"Berkshire paid $232 million, or just over $1 a share, for 225 million shares of BYD in late 2008. It bought around 25% of the automaker's Hong Kong-listed shares, or 9.9% of the entire company. BYD stock soared about 50-fold from there to trade around the Hong Kong dollar equivalent of $50 on March 31, the last day of Berkshire's final quarter as a shareholder. Adjusted for a three-for-one stock split in July, BYD shares have fallen 16% since then."
"Berkshire's BYD position was worth $9 billion at its peak in June 2022. Buffett and his team foreshadowed their exit by listing their entire stake on the Hong Kong Stock Exchange's clearing system in July 2022. They hadn't touched the position in nearly 14 years, reflecting Buffett's commitment to long-term, buy-and-hold investing. However, Berkshire began cutting the holding in August 2022 and pared it by 76% by July 2024, at which point its ownership fell below 5% and it no longer had to disclose further sales."
BYD shares fell 3% in Hong Kong after Berkshire Hathaway exited its remaining stake in the Chinese EV maker. Berkshire purchased 225 million BYD shares in late 2008 for $232 million, representing about 25% of Hong Kong-listed shares and 9.9% of the company. The holding rose roughly 50-fold to a peak value near $9 billion in June 2022. Adjusted for a three-for-one stock split, BYD traded near a Hong Kong-dollar equivalent of $50 on March 31 and has declined about 16% since. Berkshire listed the stake on Hong Kong's clearing system in July 2022, began trimming in August 2022, and reduced ownership by 76% by July 2024, falling below 5% and ceasing public disclosures.
Read at Business Insider
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