Buffett's firm cuts stake in Chinese automaker
Berkshire originally held 224 million shares, but began trimming its holdings in the automaker last August
Warren Buffett's company has again cut its stake in the Chinese automaker BYD, but remains a significant shareholder.
Berkshire Hathaway has sold nearly 95 million of its original 225 million shares, according to a filing with the Hong Kong stock market on Thursday.
This follows the addition of 4.235 million BYD shares sold since last month.
Berkshire has been trimming its stake since August, reducing its holdings by more than a third.
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Warren Buffett, Chairman and CEO of Berkshire Hathaway. (AP Photo/Nati Harnik, File / AP Newsroom)
Buffett's company still holds 130.3 million BYD shares or about 12% of the stock.
Berkshire invested in the company in 2008 and had never sold shares until last August.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BRK.A | BERKSHIRE HATHAWAY INC. | 711,100.00 | +7,800.01 | +1.11% |
| BRK.B | BERKSHIRE HATHAWAY INC. | 474.03 | +4.45 | +0.95% |
The company originally paid $232 million for a stake, which has increased in value to billions of dollars.
Buffett doesn't typically comment on stocks he is buying and selling while he is still making those moves.
BYD's Atto 3 electric SUV. ( REUTERS/Adnan Abidi / Reuters Photos)
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Many investors follow Buffett's investments because of his remarkably successful track record over the years.
Berkshire holds a sizable portfolio with major investments in Apple, Bank of America, Coca-Cola and other stocks.
Berkshire Hathaway shareholders walk by a video screen at the company's annual meeting in Omaha. (REUTERS/Rick Wilking/File Photo / Reuters Photos)
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The company also owns an assortment of more than 90 companies, including Geico, BNSF railroad, several major utilities and a number of manufacturing and retail firms.
The Associated Press contributed to this report.