Buffett's Berkshire grabs Exxon stake

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) revealed Thursday that as of September 30, it held a stake of roughly 40 million Exxon (XOM) 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), and Berkshire's stake only amounts to about 1% of the firm.

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

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). 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.

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