Berkshire once owned 224 million shares in the company, but began selling them in August. Warren Buffett’s business has reduced its position in Chinese carmaker BYD again again, yet it remains a big stakeholder.
According to a report with the Hong Kong stock exchange on Thursday, Berkshire Hathaway has sold approximately 95 million of its initial 225 million shares. This follows the sale of 4.235 million BYD shares in the previous month.
Berkshire has been lowering its shareholding since August, cutting it by more than a third.
Buffett’s firm still owns 130.3 million BYD shares, or around 12% of the stock. Berkshire invested in the firm in 2008 and never sold any stock until last August.
The corporation spent $232 million for a share that has grown in value to billions of dollars.
Many investors follow Buffett’s investments because of his long track record of success.
Berkshire Hathaway has a substantial portfolio that includes significant assets in Apple, Bank of America, Coca-Cola, and other companies.