Third Point details stakes in U.S. Steel, Kenvue in filing

Svea Herbst-Bayliss

Thu, May 15, 2025, 5:12 PM 2 min read

By Svea Herbst-Bayliss

NEW YORK (Reuters) -Billionaire capitalist Daniel Loeb's hedge money Third Point connected Thursday elaborate the size of its stakes successful U.S. Steel and Kenvue, companies that shareholders anticipation volition soon payment from being bought by someone.

U.S. Steel has been waiting to beryllium acquired by rival Nippon Steel, Japan's largest alloy producer, since 2023, but the woody has been connected clasp since the Biden medication blocked it and the Trump medication successful April ordered a caller nationalist information review.

At the extremity of the archetypal quarter, Third Point owned 12.2 cardinal shares of U.S. Steel, the alleged 13F filing released connected Thursday showed.

Loeb told investors successful a missive seen by Reuters that helium had built the "meaningful stake" successful U.S. Steel and that helium was optimistic that a merger betwixt the institution and its Japanese rival Nippon Steel tin beryllium completed.

He has not publically acknowledged the firm's presumption successful Kenvue, the shaper of Band-Aids and Tylenol, which is being pushed by different investors to see divestments oregon adjacent a merchantability of the full company. Thursday's filing shows Third Point owned 8.9 cardinal shares of Kenvue connected March 31, 2025.

While the filings, which item concern firms' stakes successful U.S. stocks astatine the extremity of the erstwhile quarter, are backward-looking, they are intimately watched for concern trends.

Separately, Toms Capital Investment Management besides built positions successful U.S. Steel and Kenvue during the archetypal quarter, according to its 13F filing. The steadfast owned 4.9 cardinal shares successful communal banal of U.S. Steel astatine the extremity of the archetypal 4th and 14.4 cardinal shares of Kenvue, the filings show.

Toms Capital has pushed Kenvue to see strategical alternatives, including a imaginable merchantability of the full institution oregon portions of it, sources acquainted with the firm's engagement said.

(Reporting by Svea Herbst-Bayliss; Editing by Diane Craft)