Buffett’s firm cuts stakes in U.S. Bank and EV maker BYD

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Warren Buffett’s company revealed that it had cut its holdings in U.S. Bank’s parent company and in Chinese electric car maker BYD ahead of offering a full update on its stock portfolio Monday. Berkshire Hathaway disclosed those sales in filings with the SEC and Hong Kong stock exchanges. The new filing expected Monday afternoon will detail all the other stock moves it made in the third quarter. Berkshire now holds 3.5% of U.S. Bancorp’s stock, down from nearly 10% at the start of the year. The Omaha, Nebraska-based company has cut its BYD stake from 225 million shares to 182 million since it started selling them in August.