Buffett’s Berkshire Hathaway exits positions in some blue-chip stocks

Investing.com — Warren Buffett’s Berkshire Hathaway (NYSE:) exited its stake in a number of big-name publicly-listed U.S. businesses, including healthcare giant Johnson & Johnson (NYSE:) and carmaker General Motors (NYSE:), according to a closely-watched filing with the Securities and Exchange Commission on Tuesday.

It also sold off smaller positions in logistics firm United Parcel Service (NYSE:), consumer goods corporation Procter & Gamble (NYSE:), and Oreo-owner Mondelez International (NASDAQ:), while slimming down its ownership of a host of companies, including oil major Chevron (NYSE:) and e-commerce firm Amazon.com (NASDAQ:).

The cuts helped swell Berkshire’s total stock sales this year through September to a net $23.6 billion, versus net purchases of $48.9B in the corresponding period in 2022. At the end of September, its cash pile was at a record high of $157.2B, thanks in part to higher interest on its Treasury and cash holdings.

Investors normally keep close tabs on Berkshire’s moves to gain insight into how Buffett, who is widely revered for his storied career of stock-picking, viewed recent market movements.

Elsewhere, George Soros’s investment firm eliminated its stake in electric vehicle maker Rivian Automotive (NASDAQ:) in the third quarter, but purchased a position in SoftBank-backed chip designer Arm Holdings (NASDAQ:), a separate SEC filing on Tuesday.  

As of Sept. 30, Soros Fund Management had sold its remaining 4.2 million shares in Rivian, the filing showed. Rivian’s stock price has fallen about 11% since Sept. 30 despite releasing better-than-expected third-quarter results and lifting its guidance.

Along with a purchase of 325,000 shares in Arm, the fund also bought up a new stake in iPhone maker Apple (NASDAQ:) and Taiwan Semiconductor (NYSE:), while adding on to its ownership of ride-hailing service Uber (NYSE:) and food deliverer DoorDash (NASDAQ:).

Yasin Ebrahim contributed to this report.