Loeb's Third Point buys up new stakes in Alibaba, AMD and Alphabet while dumping Disney's stock

Neptune Wellness Solutions Inc

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NEPT Neptune Wellness Solutions Inc

GLBZ Glen Burnie Bancorp

PHAR Pharming Group NV

CARD Max Auto Industry -3X Inverse Leveraged ETN

HIW Highwoods Properties Inc

HFRO Highland Opportunities and Income Fund

HDV iShares Core High Dividend ETF

HDELY Heidelberg Materials AG

HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF

HBI HanesBrands Inc

*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Consumer Staples : Personal Care Products | Small Cap Value
Based in Canada

Company profile

Neptune Wellness Solutions Inc. (Neptune) is a consumer-packaged goods (CPG) company that is primarily focused on health and wellness products. The Company focuses on developing a portfolio of consumer products for natural, plant-based, and lifestyle brands. Its brand units include nutraceuticals, beauty and personal care, and organic foods and beverages. The Company’s organic food and beverage brands include Sprout Organics, Nosh, and NurturMe, and the nutraceuticals brands include Biodroga and Forest Remedies. The Company offers a variety of specialty ingredients, including its licensed specialty ingredient MaxSimil. The Company’s trademarks also include Neptune Wellness and Ocean Remedies. Its nutraceutical, beauty and personal care products, and organic foods and beverages are manufactured by third-party manufacturers. The Company's products are available in approximately 27,000 retail locations. The Company’s geographical locations include Canada and the United States.

Loeb's Third Point buys up new stakes in Alibaba, AMD and Alphabet while dumping Disney's stock

8:09 am ET May 16, 2023 (MarketWatch) Print

By Emily Bary

Other new positions for the first quarter included Micron and Salesforce

Daniel Loeb's Third Point LLC took out new positions in Alphabet Inc., Alibaba Group Holding Ltd. and Advanced Micro Devices Inc. during the latest quarter, according to a recent filing.

Third Point amassed a new stake in Alphabet (GOOGL)(GOOGL) amounting to 4.75 million Class A shares during the first quarter, according to a 13-F filing with the Securities and Exchange Commission released after Monday's closing bell. Bill Ackman's Pershing Square Capital Management LP also revealed a new Alphabet stake bought during the first quarter in a Monday 13-F.

See more: Bill Ackman's Pershing Square reveals new Alphabet stake of 10.3 million shares

Loeb's entity bought up 1.33 million U.S.-listed shares of Alibaba (9988.HK) during the period, while also scooping up 1 million shares of AMD (AMD). Other new positions included 1.2 million shares of Micron Technology Inc. (MU), 800,000 shares of Salesforce Inc. (CRM) and 1.15 million shares of Teck Resources Ltd. (TECK.B.T)

Third Point dumped its position in SentinelOne Inc. (S) that had amounted to 14.7 million shares as of the fourth quarter. He also unloaded his stakes in Fidelity National Information Services Inc. (FIS) and Walt Disney Co. (DIS)

Loeb boosted his Dupont De Nemours Inc. (DD) position to 4 million shares as of the end of the first quarter from 3 million shares as of the end of the fourth quarter. He owned 6.35 million shares of Hertz Global Holdings Inc. (HTZ) as of the first quarter, up from 5.35 million shares before.

One sizable reduction during the latest period involved a trimming in Third Point's position in American International Group Inc. (AIG) That stake went down to 2.95 million shares in the first quarter from 5.1 million shares as of the prior 13-F filing.

-Emily Bary

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

May 16, 2023 08:09 ET (12:09 GMT)

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Loeb's Third Point buys up new stakes in Alibaba, AMD and Alphabet while dumping Disney's stock