David Einhorn’s Greenlight Capital filed 13f today. The fund was down in April because of losses in gold and Apple Inc. (NASDAQ:AAPL), both of which are major holdings of the hedge fund. In Greenlight’s quarterly investor letter, the fund talked about its winning positions in short yen and how it is still a firm believer in Apple Inc. (NASDAQ:AAPL). The breakup of Greenlight’s long holdings at the end of Q1 are discussed below.
The fund has been stacking up its position in the iPhone maker for the past several quarters now, Greenlight bought another 1.09 million shares of Apple Inc. (NASDAQ: AAPL) in Q1, taking its aggregate holding to 2.39 million shares. Greenlight sold sold 275,000 call options of Apple Inc. (NASDAQ:AAPL) in Q1.
Sells Google, Yahoo, Xerox
Q1 saw the famous investor selling his position in Google Inc (NASDAQ:GOOG), at 63,000 shares of the company. Greenlight Capital also exited holdings in 4.76 million shares of Yahoo! Inc. (NASDAQ:YHOO) and 25.9 million shares of Xerox Corporation (NYSE:XRX).
Seagate Technology PLC (NASDAQ:STX) which was recommended as a short by Jim Chanos at the same conference, is a long position of Einhorn. Greenlight sold 2.9 million shares of STX in Q1, and the fund now holds 5.39 million shares. Greenlight also cut its holding in Microsoft Corporation (NASDAQ:MSFT) to roughly half in Q1.
Buys Oil State and Hess Corp
At the New York Ira Sohn Conference, David Einhorn shared his long thesis on Oil States International, Inc. (NYSE:OIS). In the last quarter, Greenlight Capital bought 2.7 million shares of the company. Einhorn said the stock could be worth $155 a share if the company converted its accommodation business into a REIT. Jana Partners had also disclosed a 9.6 percent stake in Oil States International, Inc. (NYSE:OIS), a couple of weeks back.
Hess Corp. (NYSE:HES) has popped up frequently in many 13F filers this quarter. Greenlight Capital also initiated a position in Elliott’s latest activism target. The fund bought 1.24 million shares of Hess Corp. (NYSE:HES) in the last quarter. Other buys of the fund in Q1 were, IAC/InterActiveCorp (NASDAQ:IACI), Spirit AeroSystems Holdings, Inc. (NYSE:SPR), Capital Bank Financial Corp (NASDAQ:CBF) and National Bank Holdings Corp (NYSE:NBHC).