Warren Buffett's Berkshire Hathaway trims stake in BYD again
Nov. 11, 2022 7:58 AM ETBYD Company Limited (BYDDF), BRK.A, BRK.BOXYBy: Liz Kiesche, SA News Editor26 Comments
Getty Images
- Berkshire Hathaway (NYSE:BRK.B) (NYSE:BRK.A), the investment empire built by Warren Buffett, sold 5.78M H shares of electric vehicle manufacturer BYD (OTCPK:BYDDF) for HK$1.14B ($145M), Reuters reported Friday, citing a Hong Kong Stock Exchange filing.
- The transaction reduced Berkshire Hathaway's (BRK.B) stake in BYD's total issued Hong Kong-listed H shares to 16.6% on Nov. 8 from 17.2%.
- Earlier in November, the company had sold almost 3.3M BYD (OTCPK:BYDDF) shares. While it's been trimming its stake in the Chinese EV maker, it has been loading up on Occidental Petroleum (OXY) shares, now with a stake exceeding 20%.
- Almost a week ago, Berkshire's (BRK.B) Q3 filing showed that it was a net buyer of stocks in Q3 to the tune of $3.7B.