Clarification: Updated from Nov. 17 at 2:27 p.m. with clarification that Bruce Berkowitz did not necessarily sell his Freddie Mac and Fannie Mae positions, but is instead not required by SEC guidelines to report those holdings.
NEW YORK (TheStreet) -- Billionaire investors remained generally bullish about stocks in the third quarter despite increasing volatility in the markets. That's according to the latest regulatory filings, known as 13Fs, that were filed by big investors such as Warren Buffett, George Soros and Dan Loeb.
Though average investors should be cautious about copying the so-called "smart money," it's always fun to see what stocks billionaires like and don't like. Here's what 20 billionaires who made their fortunes in the financial markets were buying and selling in the third quarter, according to iBillionaire, a start-up that tracks the portfolios of financial billionaires.
Bye-Bye NFLX, Hello BABA
The big Netflix (NFLX) run may be slowing - at least according to how billionaires are handling it. Julian Robertson and Chase Coleman cashed out of the streaming media company in the third quarter, and Carl Icahn further reduced his stake as well. George Soros, on the other hand, initiated a position with the purchase of 98,000 shares.
Billionaires did buy into Chinese e-commerce giant Alibaba (BABA) . Robertson acquired 1.2 million shares off of BABA's IPO, and the company now makes up 28% of his equity portfolio. David Tepper, George Soros, Thomas Steyer and Dan Loeb jumped on the Alibaba boat as well.
Buffett Picks on the Rise
Billionaire investors apparently had Buffett on the brain in the third quarter. Ray Dalio picked up a $4.5 million stake in his holding company Berkshire Hathaway Class B shares (BRK.B) , and Richard Chilton upped his position in BRK.B to $3.3 million. Chilton also purchased 17 Berkshire Hathaway Class A shares (BRK.A) .
Chase Coleman doubled his position in long-time Warren Buffett favorite financial services company MasterCard (MA) to $560 million. Fellow tiger cub Steve Mandel increased his MasterCard position to $1.1 billion from $860 million; the credit card giant is now his fourth largest holding. Ray Dalio bought into financial services company American Express (AXP) and logistics company UPS (UPS) with the purchase of 224,000 and 149,000 shares, respectively, valued at $19.6 million and $14.7 million at the end of the third quarter.
The Oracle of Omaha himself cashed out of one position - farm and garden equipment company Deere (DE) - and cut back energy stakes in ConocoPhillips (COP) and National-Oilwell Varco (NOV) . He increased his stakes in cable company Charter Communications (CHTR) , satellite television company DirecTV (DTV) and car company General Motors (GM) , and initiated a new position in Express Scripts Holding (ESRX) worth $31.7 million. Buffett also requested that at least one of his trades remain secret.
Everybody (Mostly) Still Likes Apple
Billionaires largely hung onto tech giant Apple (AAPL) stock in the third quarter, though they did start to cash in. Each of the following six billionaires reduced their positions in Apple, Ray Dalio by 6%, Julian Robertson by 9%, George Soros by 37%, David Tepper by 31%, David Einhorn by 3% and Leon Cooperman by 5%. Richard Chilton, on the other hand, bought 3,452 shares. Apple bull Carl Icahn left his allocation untouched at nearly 53 million shares -- a stake valued at $5.3 billion.
Click through to see what stocks these 19 financial billionaires are buying and selling.
Ray Dalio's two biggest new acquisitions in the third quarter -- American Express (AXP) and UPS (UPS) -- are long-time Warren Buffett picks. He bought into Berkshire Hathaway (BRK.B) during the period as well, picking up nearly 33,000 shares.