In January, the Warren Buffett-owned investment company Berkshire Hathaway sold more than 1 million shares of electric vehicle manufacturer BYD at an average price of about $24.52 per share, according to Hong Kong stock filings.

Buffett first bought shares in BYD back in 2008, according to The Associated Press. Berkshire's been selling off incremental amounts since August 2022, with holdings decreasing from 225 million to 153.3 million as of the latest filing.

"Buffett previously praised BYD founder Wang Chanfu generously and even visited a BYD factory in China back in 2010," the AP reported.

It's not clear yet what prompted the stock sales, but Buffett is expected to present an annual letter to shareholders this month. However, as the AP notes, he may not discuss it in the letter if stock sales are expected to continue: "Buffett doesn't routinely comment on his stock moves until after he is done making them."

The Motley Fool reported that Berkshire Hathaway has sold BYD stock shares five times since August. It advised readers with BYD holdings not to follow Buffett's example because BYD is in growth mode.

"If you're currently invested in BYD, you might be tempted to follow Buffett's lead and dump your shares," the financial website stated. "But Berkshire's recent stock sales aren't necessarily a reason to panic."