Warren Buffett's Berkshire Hathaway (BRK-A, BRK-B) has cut its shares in Bank of America (BAC) below the 10 percent threshold, capping a three-month sale that netted the conglomerate around $10 billion.

Berkshire said Thursday that it reduced its stake in Bank of America by an additional 9.5 million shares and made a profit of about $382 million from those sales between Tuesday and Thursday.

The recent sale has brought Berkshire's stake in Bank of America down to 9.99%. Falling below the 10 percent threshold means the conglomerate is no longer required by federal securities laws to report its holdings in the nation's second-largest bank to the Securities and Exchange Commission within days.

Unless Buffett or Berkshire decide to publicly address their position in Bank of America, investors will have to wait for Berkshire's quarterly 13F filing.

Buffett and Berkshire have not yet commented on the motives for the sale. And Berkshire remains the bank's largest shareholder, with over 775 million shares worth about $31 billion.

Berkshire began selling its BofA position three months ago. The company sold a total of 257 million shares over the past 13 weeks, earning $9.98 billion on those sales.

The price of Bank of America shares has fallen more than 9% since Buffett began selling his company's longest-held bank stock position.

BofA is still up over 18% so far this year, but trails rivals Goldman Sachs (GS), JPMorgan Chase (JPM) and Citigroup (C).

Bank of America reports third-quarter results on Tuesday morning. Analysts expect profits to decline both year-over-year and quarter-on-quarter.

However, according to recent comments from CFO Alastair Borthwick, the main source of lending revenue, net interest income, is expected to have bottomed out in the second quarter and will grow from there through the end of the year.

Given Buffett's long history with the bank, Berkshire's recent moves are notable. He invested $5 billion in Bank of America in 2011 as the lender struggled to emerge from the wreckage of the subprime housing crisis that caused the 2008-2009 financial crisis.

And Berkshire's investment in the Charlotte, North Carolina-based bank more than a decade ago wasn't just a bet on its recovery. It also provided an important boost to the new leadership of CEO Brian Moynihan, who took the top job in 2009.

“I don’t know exactly what he’s doing because, frankly, we can’t ask and we wouldn’t,” Bank of America CEO Brian Moynihan said at a Barclays conference last month.

In June of this year, Bank of America accounted for 15% of Berkshire's portfolio as the company reduced its stake in Apple (AAPL).

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It is now the company's third-largest position behind Apple and American Express (AXP).

“We buy the stock, part of the stock, and life goes on like that. But he was a great investor in our company and stabilized our company when we needed it at the time,” Moynihan added.

David Hollerith is a senior reporter at Yahoo Finance, covering banking, crypto and other financial areas.

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