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Warren Buffett's Berkshire Hathaway Cuts Stake in China's BYD Again
Warren Buffett has further trimmed his holding in BYD, the Chinese rival to Tesla that has emerged as one of the world's most valuable carmakers.
A share sale last week by Berkshire Hathaway, the giant investment manager founded by Mr. Buffett, took its position below 14% of BYD's Hong Kong-traded shares, a filing showed. BYD is also listed in mainland China.
It is only the latest move by Berkshire to cut its stake in recent months. Since August, Berkshire's holding has fallen by nearly one-third, to about 153.3 million shares from roughly 218.7 million, filings show.
