Third Point buys Nvidia, exits Salesforce in Q2

Third Point LLC disclosed in an SEC filing its holdings as of June 30, 2023. The fund’s 12 new buys during the second quarter included, by size of position, Amazon (AMZN), TSMC (TSM), Nvidia (NVDA), Intercontinental Exchange (ICE), and Activision Blizzard (ATVI). Third Point exited 12 positions during the quarter, including by size of previous position Colgate-Palmolive (CP), Salesforce (CRM), UnitedHealth (UNH), National Instruments (NATI), and Teck Resources (TECK). The fund increased its stake in 12 holdings, including by size of previous position Microsoft (MSFT), Jacobs Solutions (J), Denbury (DEN), Alibaba (BABA), and DuPont (DD). Third Point reduced its stake in six holdings, including by size of previous position Alphabet Class A (GOOGL), Danaher (DHR), HCA Healthcare (HCA), PG&E (PCG), and Global Blue Group (GB). The fund’s top holdings as of June 30, in order of size, were PG&E, Danaher, Amazon, Bath & Body Works (BBWI), and Microsoft.