Warren Buffett has dumped Berkshire Hathaway’s stake in one Tesla (TSLA) rival, securing massive profits after holding the shares for more than a decade.
New SEC filings show Buffett has sold off all its holdings in the Chinese electric vehicle (EV) maker BYD, after taking a stake in the firm about 17 years ago.
Berkshire initially purchased 225 million shares of BYD in 2008 for about $230 million. Starting in August 2022, Buffett began reducing Berkshire’s position in the EV firm.
The latest SEC financial filing shows that Berkshire Hathaway Energy, Buffett’s subsidiary that held the Hong Kong-listed shares, no longer holds any BYD stock.
As of March 31, BYD is listed at $0 in the company’s filings, down from the $415 million worth of BYD reported in December 2024.
BYD is hovering around $13.62 per share at time of writing, up 2,332% since the stock’s 2008 close at around $0.56.
Li Yunfei, BYD’s general manager for branding and public relations, says on the Chinese social media platform Weibo that “by June of last year, [Berkshire’s] stake had fallen below 5%.”
Says Yunfei,
“Stock investing is a natural process, with both buying and selling. Thank you to [the late Charlie] Munger and Buffett for your recognition of BYD! Thank you also for your investment, support and companionship over the past 17 years! Thumbs up to all long-termists!”
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