New York, February 18, 2026, 15:30 (EST) — Regular session rolls on.
Bank of America shares moved higher Wednesday after investors parsed a new Berkshire Hathaway filing that revealed the firm had cut back its long-standing position in the bank. The stock climbed 1.1% to $53.31 in afternoon action, with JPMorgan Chase, Wells Fargo, and Citigroup also trading up.
The reduction is notable—Berkshire is still among the largest holders of Bank of America, and its trades are parsed closely, justified or otherwise. This shift lands as bank stocks react to changing interest rate expectations, a factor that directly affects lender profit on bread-and-butter banking.
Large money managers send a 13F to U.S. regulators every quarter, showing what U.S.-traded stocks they held at the end of the period. It’s a static snapshot—not real-time data.
Berkshire reported holding 517,295,934 Bank of America shares at the end of December, valued around $28.5 billion. That’s a drop of about 9% from the 568,070,012 shares listed the previous quarter. The same SEC filing revealed Berkshire picked up a new stake in the New York Times and pared back several other large holdings, according to Reuters. (SEC)
On Wednesday, Bank of America announced a new take on its customer loyalty initiative, introducing “BofA Rewards”—a broader program that drops the previous enrollment hurdle of a minimum balance. The bank said it’s targeting a May 27 launch. This update retires the Preferred Rewards program, which has brought in over 11 million members since kicking off in 2014. (Reuters)
Bank of America is rolling out a new art consulting service for its wealthy clients at both Bank of America and Merrill, targeting collectors increasingly interested in borrowing against art instead of selling. “It’s a very interesting moment to look for new long-term trends in the art market with all the recent change,” said Drew Watson, head of art services at the bank, in an interview with Reuters. (Reuters)
Big tech pushed the broader market higher, reversing some of the nerves that hit risk appetite earlier this month. The S&P 500 rose 0.61%, while the Nasdaq added 0.99%, according to Reuters. (Reuters)
Traders kept a close eye on rate bets after the Federal Reserve’s late-January minutes revealed a divided committee—“several” policymakers signaled willingness to consider hikes if inflation doesn’t cool, while others maintained there’s scope to cut rates down the line. The Fed convenes again March 17-18, set to refresh its economic and rate forecasts. (Reuters)
Still, 13F filings are a double-edged sword—they only reveal a major holder’s position at quarter-end, not what’s changed since then. Headlines move first. Should rate-cut expectations wobble or credit concerns pop up, that noise tends to override whatever’s in the latest filing for bank stocks.
Traders are now zeroing in on the Fed’s March 17-18 policy meeting—a date circled on calendars—when fresh projections might shake up expectations for both the timing and the level of future rate moves. (Federalreserve)
