Billionaire investor Warren Buffett, known for his successful long-term investment strategies, has been selling more assets than he is buying in his recent portfolio adjustments, according to Berkshire Hathaway's latest 13F filing and third-quarter results. This cautious move by Buffett has caught the attention of retail investors, who often look to the legendary investor for guidance.

Buffett's decision to sell assets worth approximately $23.6 billion throughout the year has made him a net stock seller for 2022. In contrast, his portfolio adjustments in 2022 showed him to be a net buyer. This change in behavior suggests that Buffett may foresee trouble on the horizon for the upcoming year.

"The message is be cautious... I think he sees trouble next year," said Lee Munson, the President of Portfolio Wealth, in an interview with Yahoo Finance Live. Munson also highlighted Buffett's challenge in finding good companies at reasonable valuations, which may be contributing to his increased selling.

Berkshire Hathaway, Buffett's conglomerate, ended the third quarter with a record $157.2 billion in cash, an increase from $147.4 billion in the previous quarter. Morningstar analyst Greggory Warren believes this cash accumulation showcases Berkshire's discipline and ability to avoid substantial mistakes over time.

The selling of assets in the third quarter was seen as a way for Berkshire to clean out some of its legacy holdings, according to Warren. During this period, Berkshire exited positions in General Motors (GM), Procter & Gamble (PG), and Johnson & Johnson (JNJ), among others. Holdings in HP (HPQ), Amazon (AMZN), and Chevron (CVX) were also reduced.

However, one notable exception to Berkshire's selling spree was its top position in Apple (AAPL). Even with the adjustments, Apple remains the largest holding in Berkshire's stock portfolio, accounting for half of it. This move is seen as a testament to Buffett's unwavering confidence in the tech giant's promising future.

Wedbush Senior Equity Analyst Dan Ives commented on Buffett's decision to hold onto Apple, saying, "Buffett sees black clouds with GM and others while Apple has blue skies ahead. This is the beginning of the next phase of the Cupertino growth story, and Buffett knows that... Selling Apple here would be like leaving a Taylor Swift concert after the first song."

For investors who follow Buffett's strategies, their performance has likely mirrored that of the broader S&P index this year. Berkshire Hathaway shares, both Class A and Class B, have recorded gains of approximately 16% since the beginning of the year, slightly trailing the S&P 500's 17.5% increase.

As Warren Buffett makes adjustments to his portfolio, retail investors are advised to approach the market with caution. Buffett's seasoned experience and success have earned him the reputation of being a reliable voice in the investment world. His actions and decisions often reflect a prudent approach to investing, and his recent selling spree may indicate a more conservative stance in the face of potential challenges ahead.