Third Point buys AIG, exits T-Mobile in Q4

Third Point disclosed in an SEC filing its holdings as of December 31, 2022. The fund’s six new buys during the fourth quarter included, by size of position, AIG (AIG), Microsoft (MSFT), International Flavors & Fragrances (IFF), Fidelity National Information Services (FIS), and LabCorp (LH). Third Point exited 21 holdings during the quarter, including by size of previous position EQT Corp. (EQT), Range Resources (RRC), T-Mobile (TMUS), Cano Health (CANO), and CSX (CSX). The fund increased its stake in four holdings, including by size of previous position Bath & Body Works (BBWI), TJX (TJX), DuPont (DD), and iShares 1-3 Year Treasury Bond ETF (SHY). Third Point reduced its stake in four holdings, including by size of previous position Ventyx Bio (VTYX), Disney (DIS), and PG&E (PCG). The fund’s top holdings as of December 31, in order of size, were PG&E, Colgate-Palmolive (CL), Danaher (DHR), Bath & Body Works, and UnitedHealth (UNH).