Berkshire is selling about $1.48 billion in Bank of America shares, a filing with Reuters shows

(Reuters) – Berkshire Hathaway sold about 33.9 million shares of Bank of America for about $1.48 billion in a series of transactions this week, an official filing said.

After the sale, Berkshire owned about 999 million BofA shares.

Berkshire is one of the largest shareholders in Charlotte, North Carolina. It also has investments in several other banks, including Wells Fargo & Co and JPMorgan Chase (NYSE:

The conglomerate, owned by Warren Buffett, began investing in Bank of America in 2011, buying $5 billion in preferred stock and warrants to buy 700 million common shares, at a time when many investors were concerned about the bank's capital needs.