Buffett Strikes Again!

Well-known American investor Warren Buffett's Berkshire Hathaway has continued to reduce its stake in BYD.
On June 25, according to a Hong Kong Stock Exchange filing, Berkshire Hathaway sold 2,017,500 shares of BYD on June 19 at an average reduction price of HK $234.57 per share, reducing its stake from 6.18% to 5.99%.
Mr Buffett's history of buying BYD shares dates back to September 2008, when his Berkshire Hathaway paid HK $1.8bn for 225m shares in the Hong Kong stock market at HK $8 each.
According to documents disclosed on the official website of the Hong Kong Stock Exchange, Berkshire Hathaway, which has held BYD shares for more than a decade, began to reduce its holdings of the stock for the first time from August 24, 2022. In the past less than two years, Berkshire Hathaway has launched a dozen consecutive stake-reduction actions, and its proportion of BYD's H-shares has dropped from 19.92% to only 5.99%.
Among them, Buffett reduced the number of BYD shares more on November 8, 2022, when he reduced his holdings of 5,782,500 shares, with an average price of about HK $196.99 per share; On February 9, 2023, it reduced its holdings of 4.235 million BYD H shares at an average price of HK $257.9 per share; In addition, on November 1, 2022, it reduced its holdings by 3.297 million shares at an average price of approximately HK $169.87 per share.
On the issue of reducing the stake in BYD, Buffett responded at the Berkshire Hathaway shareholders' meeting in May this year: "BYD's investment is similar to the investment in Japan five years ago, and we rarely make such a large investment outside the United States." But in the future, we will focus on the United States."

Industry analysts have generally believed that Buffett may reduce the stake in BYD to clear the intention. "Once the stake is down to 5 per cent, Mr Buffett will sell more quickly because there is no need to disclose sales by shareholders who own less than 5 per cent."