14 Nov 2017 Note to Dataroma users regarding Berkshire's stake in Bank of America ( Portfolio )

Berkshire Hathaway's reported stake in Bank of America in Q3 was due to exercise of warrants that Berkshire held. However, Berkshire owned 700 million BAC warrants, whereas the filing reports 679 million shares at qtr-end. So it appears that Berkshire in fact reduced its BAC stake by 21 million shares in Q3.