David Einhorn's Greenlight Capital adds Kenvue, ETFs and exits Southwestern Energy

Dow Jones02-15

MW David Einhorn's Greenlight Capital adds Kenvue, ETFs and exits Southwestern Energy

By Joy Wiltermuth

David Einhorn's hedge fund Greenlight Capital picked up a new stake in Kenvue Inc. (KVUE) - formerly the consumer healthcare division of Johnson & Johnson $(JNJ)$ - in the fourth quarter, according to a public filing Wednesday.

Greenlight acquired about a $12 million stake in Kenvue in the fourth quarter, while also adding a nearly $2.7 million exposure to Israeli generic-drug giant Teva Pharmaceutical Industries Ltd. $(TEVA)$, according to a 13F quarterly filing with the U.S. Securities and Exchange Commission.

The hedge fund also added exposure to a smattering of exchange-traded funds, while keeping a roughly steady stake in the SPDR Gold shares fund GLD of about $74 million.

Gold prices (GC00) closed at a record high of $2,093.10 an ounce in December, before slipping back to about $2,000 on Wednesday, according to FactSet.

Greenlight exited Activision Blizzard Inc. and Southwestern Energy Co., $(SWN)$ according to the filing.

Einhorn founded Greenlight in 1996 and rose to prominence for shorting stocks, including shares of Lehman Brothers months before the company went bankrupt.

-Joy Wiltermuth

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 14, 2024 18:38 ET (23:38 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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(KVUE)  - formerly the consumer healthcare division of Johnson & Johnson $(JNJ)$ - in the fourth quarter, according to a public filing Wednesday. \n\n\n     Greenlight acquired about a $12 million stake in Kenvue in the fourth quarter, while also adding a nearly $2.7 million exposure to Israeli generic-drug giant Teva Pharmaceutical Industries Ltd. $(TEVA)$, according to a 13F quarterly filing with the U.S. Securities and Exchange Commission. \n\n\n     The hedge fund also added exposure to a smattering of exchange-traded funds, while keeping a roughly steady stake in the SPDR  Gold shares fund GLD  of about $74 million. \n\n\n     Gold prices (GC00) closed at a record high of $2,093.10 an ounce in December, before slipping back to about $2,000 on Wednesday, according to FactSet. \n\n\n     Greenlight exited Activision Blizzard Inc. and Southwestern Energy Co., $(SWN)$ according to the filing. \n\n\n     Einhorn founded Greenlight in 1996 and rose to prominence for shorting stocks, including shares of Lehman Brothers months before the company went bankrupt. \n\n\n     -Joy Wiltermuth \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. 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