Einhorn's Greenlight Capital Continues to Build Gold Position (GLD, GDX), Raises EMC Stake, Gets Long PFE/WYE Merger

May 18, 2009 11:05 AM EDT

David Einhorn's Greenlight Capital hedge fund issued its 13F for the quarter ended 3/31/09 on Friday. Einhorn increased his long 'Gold' exposure (GLD, GDX) on inflation fears, raised his stake in EMC, built a new position in merger-duo PFE and WYE. He also got long a couple of retailers: AEO & JNY.

Highlights From the Filing:

  • -Raises stake in SPDR Gold Shares (NYSE: GLD) by 514K shares to 4,209,090 shares. This is the 1st largest position valued at $385 million.
  • -Raises stake in EMC Corp (NYSE: EMC) by 2.89M shares to 12,820,000 shares. This is the 4th largest position.
  • -New 5,930,000 share stake in Pfizer (NYSE: PFE)
  • -New 1,300,000 share stake in Hess Corporation (NYSE: HES)
  • -New 1,430,000 share stake in Wyeth (NYSE: WYE)
  • -New 3,705,757 share stake in Harman International Industries Inc. (NYSE: HAR)
  • -New 1,805, 305 share stake in Con-Way, Inc. (NYSE: CNW)
  • -New 5,612,900 share stake in Jones Apparel Group, Inc. (NYSE: JNY)
  • -New 4,450,000 share stake in Discover Financial Services (NYSE: DFS)
  • -New 2,300,000 share stake in BJ Services Company (NYSE: BJS)
  • -New 1,050,000 share stake in American Eagle Outfitters Inc. (NYSE: AEO).
  • -Liquidated 1.81 million share stake in CF Industries Holdings, Inc. (NYSE: CF)
  • -Liquidated 859K share stake in Dr Pepper Snapple Group, Inc. (NYSE: DPS)
  • -Lowers stake in URS Corp (NYSE: URS) by 218K to 4,434,924 shares. This is the 2nd largest position.
  • -Lowers stake in CommScope Inc. (NYSE: CTV) by 3.28M shares to 3,717,890 shares.
  • -Maintains 3,200,000 shares stake in Market Vectors Gold Miners ETF (NYSE: GDX)


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Stocks Mentioned

AEO 16.25

+0.09 +0.56%
Volume: 4,108,071
Track AEO

BJS 19.45

-0.24 -1.22%
Volume: 5,641,221
Track BJS

CF 78.48

-1.93 -2.40%
Volume: 2,876,372
Track CF

CNW 31.46

+1.40 +4.66%
Volume: 1,848,679
Track CNW

CTV 29.09

+0.32 +1.11%
Volume: 1,074,791
Track CTV

DFS 15.40

+0.02 +0.13%
Volume: 7,322,827
Track DFS

DPS 27.56

+0.89 +3.34%
Volume: 2,893,744
Track DPS

EMC 17.05

+0.04 +0.24%
Volume: 22,068,388
Track EMC

GDX 49.66

+0.38 +0.77%
Volume: 13,193,075
Track GDX

GLD 108.39

+0.20 +0.18%
Volume: 15,979,844
Track GLD

HAR 38.88

-0.21 -0.54%
Volume: 620,866
Track HAR

HES 58.25

-0.08 -0.14%
Volume: 2,146,535
Track HES

JNY 19.19

+0.00 +0.00%
Volume: 2,761,002
Track JNY

PFE 17.56

+0.13 +0.75%
Volume: 50,982,737
Track PFE

URS 40.67

-0.15 -0.37%
Volume: 560,848
Track URS

WYE 50.39

+0.00 +0.00%
Volume: 50,253,011
Track WYE


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