While Intel owned about 1.8 million Arm shares earlier this year, it held no position as of the end of the June quarter, the company’s latest 13-F filing showed.

Major investors and companies with significant public holdings must provide quarterly updates on their positions, and Intel’s update came out late yesterday.

The filing does not indicate when Intel dumped its shares. At the end of the June quarter, the company’s Arm position was worth $147 million.

After being purchased by SoftBank Group Corp. in 2016, Arm went public again last September, and Intel’s position first appeared on the company’s 13-F for the September quarter of 2023.

Arm mentioned Intel in its prospectus, noting the company as one of numerous large technology players that ship Arm-based chips.

Arm shares have been hot since re-emerging on the public markets, rising 146 per cent from their initial public offering price of $51. Shares recently changed hands for more than $125, but they traded above that point for all of June, before peaking at $186.46 in July.

Intel shares, meanwhile, have struggled recently. They currently rank second to last in the S&P 500 for 2024. Intel recently announced a program to cut $10 billion in costs next year, including suspending its dividend and layoffs expected to affect 15 per cent of its staff.

At the end of the June quarter, the company continued to own a position in Astera Labs worth $357 million and one in Joby Aviation worth $144 million. Intel also had a pair of far smaller positions.