Berkshire Trims GM Stake While Einhorn Exits Amid Recalls
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Warren Buffett’s Berkshire Hathaway Inc. cut its stake in General Motors Co. in the first quarter and some hedge funds including Greenlight Capital Inc. exited completely as the carmaker recalled a record number of vehicles.
Berkshire reduced its GM holdings by 25 percent during the three-month period to 30 million shares, the Omaha, Nebraska-based company said in a regulatory filing. Greenlight, run by David Einhorn, liquidated about 17 million shares worth about $697 million as of March 31, according to a filing.