Warren Buffett's Berkshire Hathaway (BRK.B) (BRK.A) has sold 1.33 million Hong Kong-listed shares of electric vehicle maker BYD (BYDDF) for HK$267.69 million ($34.43 million), according to a filing with the Hong Kong Stock Exchange. As per the filing, the transaction lowered Berkshire's holdings in BYD's total issued H-shares to 14.95% on Dec. 8, down from prior 15.07%. Looking at the stock performances over a period of one year, BRK.A gained around 8% whereas BYDDF lost 25% of its value.

Since CEO Warren Buffett took over in 1964, Berkshire Hathaway has grown into a conglomerate with more than 60 wholly owned businesses and a massive stock portfolio with more than four dozen different positions. Berkshire has steadily increased its book value and earnings power over time – and it operates under the same business model that has led the stock to almost double the annualized return of the S&P 500 index for more than 55 years.

Buffett and his business partner, Charlie Munger, have long kept large cash reserves to deploy when they spot opportunity as part of their value investing strategy. In his annual letter to shareholders released in February 2022, Buffett wrote that Berkshire Hathaway held $144 billion in cash and cash equivalents. But Buffett apparently spotted value investing opportunities soon after. He later revealed at Berkshire’s annual shareholder meeting that the company bought $40 billion worth of stocks in the three weeks after the shareholder letter went out.