Buffett's Berkshire grabs Exxon stake

  @jtotoole November 14, 2013: 6:00 PM ET
warren buffett

Warren Buffett speaks onstage at the Fortune Most Powerful Women Summit last month.

NEW YORK (CNNMoney)

Warren Buffett is betting big on Exxon Mobil.

Buffett's Berkshire Hathaway (BRKA, Fortune 500) revealed Thursday that as of September 30, it held a stake of roughly 40 million Exxon (XOM, Fortune 500) shares. That stake would be worth $3.74 billion at Thursday's closing price.

The disclosure came on a day when investment managers made filings detailing their third-quarter holdings with the Securities and Exchange Commission.

Exxon is the world's second largest company by market capitalization after Apple (AAPL, Fortune 500), and Berkshire's stake only amounts to about 1% of the firm.

Berkshire trimmed its stake in another big oil producer, ConocoPhillips (COP, Fortune 500).

Related: SAC Capital pleads guilty

Elsewhere in the investment world, Carl Icahn revealed the size of his previously announced Apple stake, worth $2.05 billion as of Thursday's close.

John Paulson, who made a fortune betting against the housing market, revealed an $88 million stake in FedEx (FDX, Fortune 500). Fellow hedge fund celebrity Dan Loeb also announced this week that his firm, Third Point, had taken a stake in the shipping giant.

Loeb's FedEx stake was worth $272 million as of Thursday's close.

Retail's good, bad, and ugly

Bill Ackman's Pershing Square Capital sold its massive J.C. Penney stake in the third quarter, taking a loss of nearly $500 million. But a trio of other large hedge funds -- Jana Partners, Appaloosa Management and Farallon Capital Management -- revealed small stakes in the ailing retailer. To top of page



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