Warren Buffett dumped Berkshire Hathaway stakes on one Tesla rival, securing a massive profit after holding shares for over a decade.
The new SEC Filings Showbuffett sold all of Chinese electric vehicle (EV) manufacturer BYD after acquiring stake in the company about 17 years ago.
Berkshire originally purchased 225 million shares in 2008 for approximately $230 million. Starting in August 2022, Buffett began reducing Berkshire's position in the EV company.
The latest SEC Financial Filing shows that Berkshire Hathaway Energy, a subsidiary of Buffett, which owns Hong Kong-listed stocks, is no longer holding BYD stakes.
As of March 31, BYDs are listed in $0 on the company's application that has decreased from the $415 million worth of BYD reported in December 2024.
BYD is about $13.62 per share at the time of writing, an increase of 2,332% since its shares ended in 2008 at around $0.56.
Li Yunfei, general manager of branding and public relations at BYD, said on Chinese social media platform Weibo, “by June last year, (Berkshire) stocks had fallen below 5%.”
Yun Fei says,
“Equity investment is a natural process both in buying and selling. I would like to thank (the late Charlie) Munger and Buffett. I would also like to thank the investment, support and relationships over the past 17 years!
Generated Image: Midjourney
