The biggest change in the portfolio of David Einhorn’s Greenlight Capital Inc in 1Q14 was the 807% increase in Sunedison Inc (NYSE:SUNE), which went from being just 0.23% of the fund’s portfolio to 3.34%, making it the 7th largest position. Of 40 long positions (not counting call options) Greenlight’s five largest positions are Apple Inc. (NASDAQ:AAPL), Micron Technology, Inc. (NASDAQ:MU), Marvell Technology Group Ltd. (NASDAQ:MRVL), CIGNA Corporation (NYSE:CI), and Oil States International, Inc. (NYSE:OIS).
Greenlight’s new and increased positions
Greenlight also doubled its stake in EMC Corporation (NYSE:EMC) and Penn National Gaming, Inc (NASDAQ:PENN) last quarter, pushing EMC to 11th largest position making up 2.42% of the total portfolio. Other significant increases were a 21% increase in Anadarko Petroleum Corporation (NYSE:APC) making it the fund’s 9th largest position and a 79% increase in McDermott International Inc. Greenlight also increased holdings of Liberty Global plc – Class C Ordinary Shares (NASDAQ:LBTYK), BP plc (ADR) (NYSE:BP), URS Corp (NYSE:URS), Chico’s FAS, Inc. (NYSE:CHS), Spirit AeroSystems Holdings, Inc. (NYSE:SPR), and Amdocs Limited (NASDAQ:DOX).
At this year's SALT New York conference, Cathie Wood, founder, and CEO of ARK Investment Management LLC, spoke about her view on Bitcoin, the outlook for Tesla and Ark's investment process. Q2 2021 hedge fund letters, conferences and more The investment manager explained that the team at ARK has a five-year investment horizon, with a Read More
Greenlight Capital’s biggest new positions this quarter were CONN’S, Inc. (NASDAQ:CONN) and American Capital Agency Corp. (NASDAQ:AGNC), with $128 million and $112 million respectively. Conns is now the funds 13th largest position. Other new positions include Talmer Bancorp Inc (NASDAQ:TLMR), Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V), Lam Research Corporation (NASDAQ:LRCX), and National-Oilwell Varco, Inc. (NYSE:NOV).
Greenlight’s reduced and closed positions
General Motors Company (NYSE:GM) was one of Greenlight Capital’s largest positions last quarter accounting for 9.55% of its portfolio, making it the most significant exit this quarter. It also closed positions on NCR Corporation (NYSE:NCR), Delphi Automotive PLC (NYSE:DLPH), and DST Systems, Inc. (NYSE:DST), each of which had made up more than 1% of the fund’s portfolios.
Aspen Insurance Holdings Limited (NYSE:AHL) was Greenlight’s biggest reduction by percentage, being cut from 1.24% of the portfolio to 0.14%. Rite Aid Corporation (NYSE:RAD) and Vodafone Group Plc (NASDAQ:VOD) (LON:VOD) were both essentially cut in half, now accounting for 0.52% and 0.41% of the total portfolio respectively. Greenlight also cut back on Apple Inc. (NASDAQ:AAPL) stocks by 16%, but it is still the fund’s largest position, and the reduction was offset by $45 million worth of Apple call options. Other reduced positions include Aetna Inc (NYSE:AET), Computer Sciences Corporation (NYSE:CSC), Marvell Technology Group (NASDAQ:MRVL), IAC/InterActiveCorp (NASDAQ:IACI), and Intrexon Corp (NYSE:XON).