New York — Goldman Sachs’s bets on four companies delighted investors a quarter ago. This time around, they’re inflicting about $260m worth of pain.

Those losses are driven by investments made for its own account in Uber Technologies and Avantor, which both slumped in the third quarter. The ride-hailing company has seen a third of its market value erased after a woeful public-market debut, while Avantor lost 23% in the same period. That led to hits of more than $100m each for Goldman...

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