Buffett strikes again!
Berkshire Hathaway, owned by well-known American investor Warren Buffett, continues to reduce its holdings in BYD.
On June 25, according to documents from the Hong Kong Stock Exchange, Berkshire Hathaway sold 2.0175 million shares of BYD on June 19, with an average sales price of HK$234.57 per share. Its shareholding ratio dropped from 6.18% to 5.99%.
Buffett's history of buying BYD shares can be traced back to September 2008, when Berkshire Hathaway, owned by Buffett, spent HK$1.8 billion to subscribe for 225 million shares of BYD shares in Hong Kong stocks at a price of HK$8 per share.
According to documents previously disclosed on the official website of the Hong Kong Stock Exchange, Berkshire Hathaway, which has held BYD shares for more than ten years, began to reduce its holdings of the stock for the first time on August 24, 2022. In the past two years, Berkshire Hathaway has launched more than a dozen reductions in holdings, and its holding of BYD H shares has dropped from 19.92% at that time to only 5.99% at the latest.
Among them, Buffett sold the largest number of BYD shares on November 8, 2022, when he sold 5.7825 million shares at an average price of approximately HK$196.99 per share; and on February 9, 2023, he sold 4.235 million BYD H shares at an average price of HK$257.9 per share; in addition, on November 1, 2022, he sold 3.297 million shares at an average price of approximately HK$169.87 per share.
Regarding the issue of reducing holdings in BYD, Buffett responded at the Berkshire Hathaway shareholders meeting in May this year: "The investment in BYD is similar to the investment in Japan five years ago. We rarely make such a large investment outside the United States. But in the future, we will focus on the United States as our main investment direction."
Industry analysts generally believed that Buffett might be planning to sell off all his shares in BYD. "Once the shareholding ratio drops to 5%, the speed of selling will accelerate, because shareholders holding less than 5% do not need to disclose their selling."
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