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
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02-14-24 1838ET
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