According to Reuters, on November 14th local time, Berkshire Hathaway, an investment company under Warren Buffett, said it would sell its holdings of General Motors stock to increase its cash reserves to a record $157.2 billion.

　　According to a regulatory document, Berkshire Hathaway provided a detailed list of its holdings of US listed stocks as of September 30th. Among them, Berkshire Hathaway no longer holds shares in General Motors, and in June, the company still held $848 million in General Motors' stock.

　　Buffett has long been loyal to the Detroit Big Three (Ford, General Motors, and Stellantis) and has gained attention for driving a Cadillac. In 2012, Berkshire Hathaway purchased 10 million shares of General Motors, but over the past 10 years, with the recall and other developments, Berkshire Hathaway's holdings in General Motors have increased and decreased.

　　Among them, Berkshire Hathaway sold its 45% stake in General Motors in the second quarter, reducing its holdings from approximately 40 million shares to approximately 22 million shares.

　　On November 14th, General Motors' stock price rose 4.8% to close at $28.20.

　　Image source: General Motors

　　As of September 30th, Berkshire Hathaway's stock portfolio totaled $318.6 billion.

　　Berkshire Hathaway only bought $1.7 billion worth of stocks in the third quarter, but sold $7 billion worth of stocks, including a partial investment in energy company Chevron.

　　Since the beginning of this year, Berkshire Hathaway has sold $23.6 billion more stocks than it has bought.

　　Berkshire Hathaway's cash reserves have reached record levels, comparable to his $156.8 billion stake in Apple.

　　Buffett, now 93 years old, has been in charge of Berkshire Hathaway since 1965. Berkshire Hathaway also owns dozens of companies, including car insurance company Geico, railway company BNSF, energy and industrial companies, as well as consumer brands such as Benjamin Moore, Dairy Queen, Duracell, Fruit of the Room, and See's Candies.

　　This article is reprinted from Gaishi Automotive Information Network