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Dec 14, 2022 05:37 AM
BUSINESS

Buffett’s Sales of BYD Shares Top 25% of Former Berkshire Holding

Warren Buffett’s Berkshire, which remains BYD’s largest shareholder in Hong Kong, invested in the automaker in September 2008
Warren Buffett’s Berkshire, which remains BYD’s largest shareholder in Hong Kong, invested in the automaker in September 2008

(Bloomberg) — Berkshire Hathaway Inc. further trimmed its stake in Chinese electric vehicle maker BYD Co., according to a filing Tuesday, offloading 1.3 million Hong Kong-traded shares to take its holding below 15%. That means the investment house has now sold more than a quarter of its position over five months.

Warren Buffett’s company started publicly reducing its stake in Shenzhen-based BYD in August, when it cut its holding from 20.49% to 19.92%. The pace of sales accelerated in November. Berkshire has to disclose only sales of 1% or more, with any transactions to counterparties under that figure not publicized. Berkshire’s holding now stands at 14.95%.

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