Banking

Top Bank of America Shareholders


Bank of America Corp. (BAC) is one of the leading banks in the U.S. and one of the world’s largest financial institutions. It offers a range of financial products and services, including saving accounts, deposits, mortgage loans, cash and wealth management, investment funds, insurance, and more. Bank of America operates through four key business segments: Consumer Banking; Global Wealth & Investment Management; Global Banking; and Global Markets.

The top shareholders of Bank of America are Paul F. Donofrio, Brian T. Moynihan, Geoffrey S. Greener, Berkshire Hathaway Inc. (BRK.B), Vanguard Group Inc., and BlackRock Inc. (BLK).

Bank of America’s 12-month trailing net income and revenue are $26.5 billion and $98.6 billion, respectively. The company’s market cap is about $267 billion. These financial data are as of February 2024.

Below is a look in more detail at Bank of America’s 6 biggest shareholders.

Key Takeaways

  • Bank of America is one of the largest consumer banks in the United States, with $3 trillion in customer deposits and other assets.
  • The largest shareholder is Warren Buffett’s Berkshire Hathaway, which holds 13% of all marketable shares.
  • The next largest investors are institutional asset managers, like BlackRock and Vanguard.
  • Among individual insiders, the biggest investors are company insiders, like executives and board members.

Top 3 Individual Insider Shareholders

The largest individual shareholders of Bank of America are company insiders, like executives and members of the board. The following list shows only shares that are directly owned, not restricted stock units or options.

Brian T. Moynihan

Brian Moynihan owns a total of 2.4 million Bank of America shares, representing 0.03% of the company’s total shares outstanding. Mr. Moynihan is chair of the board and chief executive officer (CEO). Before becoming CEO in 2010, Moynihan directed virtually every major segment of the bank’s business, including consumer and small business banking, investment banking, and wealth management.

He joined Fleet Boston Financial as the company’s deputy general counsel in 1993, before leading the firm’s brokerage and wealth management business operations. Following a 2004 merger of Fleet Boston with Bank of America, Moynihan assumed the position of president of wealth and investment management at the bank, then was promoted to a series of executive positions before rising to CEO.

“Insider” refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company’s stock. In this context, it has nothing to do with insider trading.

Geoffrey S. Greener

Geoffrey Greener owns a total of 1.2 million Bank of America shares, representing 0.01% of the company’s shares outstanding. Mr. Greener has been the chief risk officer (CRO) for Bank of America since April 2014. Before this position, Greener was head of Enterprise Capital Management and head of Global Markets Portfolio Management. He also previously chaired several committees, including on markets regulatory reform.

Paul F. Donofrio

Paul Donofrio holds over 1 million GE shares, accounting for just under 0.01 of the company’s total float, according to the company’s 2023 proxy statement. Donofrio joined Bank of America in 1999, and served as Chief Financial Officer for six years between 2015 and 2021. As vice chairman, he now oversees the bank’s sustainability activities.

Top 3 Institutional Shareholders

Institutional investors hold approximately 68% of Bank of America’s total shares outstanding.

Berkshire Hathaway Inc.

Berkshire Hathaway owns 1.03 billion shares of Bank of America, representing 13.1% of total shares outstanding, according to the company’s 13F filing. Berkshire Hathaway is a diversified holding company that owns major subsidiaries involved in insurance, rail transportation, energy, and retailing. The company also owns a sizable investment portfolio that includes shares of major U.S. corporations. The value of Bank of America shares in Berkshire’s portfolio is $35 billion. The company reported about $347 billion of managed 13F securities as of Q4 2023.

Vanguard Group Inc.

Vanguard Group owns 608 million shares of Bank of America, representing 7.7% of total shares outstanding, according to the company’s 13F filing. The company is primarily a mutual fund and ETF management company with about $7.6 trillion in global AUM. The Vanguard S&P 500 ETF (VOO) is one of the company’s largest exchange-traded funds (ETFs) with about $404 billion in AUM. Bank of America comprises about 0.57% of VOO’s holdings.

BlackRock Inc.

BlackRock owns 491.6 million shares of Bank of America, representing 6.2% of total shares outstanding, according to the company’s 13F filing. The company is primarily a mutual fund and ETF management company with approximately $10 trillion in AUM. The iShares Core S&P 500 ETF (IVV) is one of BlackRock’s largest ETFs with approximately $443 billion in net assets. Bank of America comprises about 0.54% of IVV’s holdings.

How Much Does Bank of America Manage?

In 2023, Bank of America had just over $3.05 trillion on its balance sheets. This included $1.9 trillion of customer deposits, with the remainder accounting for loans, securities and investments.

How Many Customers Does Bank of America Have?

Bank of America had 44 million active digital customers at the end of the 2022 fiscal year, according to the bank’s 2023 annual report.

What Is the Minimum Monthly Balance for a Bank of America Account?

The Bank of America Advantage Savings Account has a monthly maintenance fee of $8.00. According to the bank, you can avoid this fee if one of the account owners is under age 25, if you keep the balance higher than $500, if you are enrolled in the bank’s Preferred Rewards program, or if the account is linked into certain other BofA accounts.

The Bottom Line

Bank of America is one of the largest consumer banks in the United States, with over $3 trillion in assets. The largest shareholder is Berkshire Hathaway, along with fund managers like BlackRock and Vanguard.



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