Warren Buffett’s company has again cut its stake in the Chinese automaker BYD, but remains a significant shareholder.
Berkshire Hathaway sold nearly 95 million of its original 225 million shares, according to a filing with the Hong Kong stock market on Thursday.
This is in addition to the 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.
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.
|BRK.A||BERKSHIRE HATHAWAY INC.||466,020.00||-1,979.00||-0.42%|
|BRK.B||BERKSHIRE HATHAWAY INC.||307.21||-1.27||-0.41%|
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.
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.
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.