巴菲特，持仓新动向！

Core Viewpoint - Berkshire Hathaway has completely divested its shares in BYD, marking the end of a 14-year investment relationship, with no response from BYD regarding this development [1][2]. Group 1: Investment History - Berkshire Hathaway initially invested in BYD in September 2008, acquiring 225 million H-shares at HKD 8 per share, totaling approximately HKD 1.8 billion, representing about 10% of BYD post-placement [1]. - At the time of investment, BYD's price-to-earnings ratio was 10.2 and price-to-book ratio was 1.53 [1]. - Over the years, BYD's stock price increased by approximately 3890% during Berkshire's holding period [1]. Group 2: Divestment Process - Starting in August 2022, Berkshire Hathaway began to gradually reduce its stake in BYD, with 13 disclosures of share reductions reported by the Hong Kong Stock Exchange, bringing its holding to 7.98% by October 2023 [1]. - In June 2024, further disclosures indicated that Berkshire's stake fell below 5%, at which point they were no longer required to report subsequent reductions, with 54 million shares still held [2]. Group 3: Management Insights - Warren Buffett attributed the initial investment decision to Charlie Munger, who expressed strong confidence in BYD's CEO Wang Chuanfu, comparing him to Thomas Edison [2]. - In a 2023 interview, Buffett mentioned that the funds from the BYD divestment would be allocated to better investment opportunities [2].