Berkshire Hathaway cuts stake in BYD by 3.23M shares By Investing.com

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Berkshire Hathaway cuts stake in BYD by 3.23M shares

Published Nov 22, 2022 11:26

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Berkshire Hathaway cuts stake in BYD by 3.23M shares

BRKa

-0.62%

Add to/Remove from a Portfolio

002594

-0.23%

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By Michael Elkins

According to filings, Warren Buffett-owned Berkshire Hathaway (NYSE:BRKa) investment company has sold 3.23 million Hong Kong-listed shares of electric vehicle maker BYD (SZ:002594) for HK$630.33M ($80.67M).

The transaction reduced the company's holding in the EV maker to 15.99%, from 16.28%. It's the third time this month, that Berkshire sold shares in BYD. At the beginning of the month, it had owned an 18.22% stake in the automaker.

Berkshire first sold BYD shares in late August when it offloaded 1.3M shares of the electric vehicle maker for $47M. The firm opened a position in BYD in 2008.

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