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 15.84

+0.05 +0.32%
Volume: 8,156,622
Track AEO

BJS 18.91

-0.37 -1.92%
Volume: 4,403,050
Track BJS

CF 79.05

-0.85 -1.06%
Volume: 2,187,782
Track CF

CNW 30.35

+0.39 +1.30%
Volume: 1,205,435
Track CNW

CTV 27.90

-0.23 -0.82%
Volume: 579,615
Track CTV

DFS 14.53

+0.00 +0.00%
Volume: 5,549,284
Track DFS

DPS 26.62

+0.10 +0.38%
Volume: 2,204,497
Track DPS

EMC 16.73

-0.08 -0.48%
Volume: 17,676,556
Track EMC

GDX 47.62

+0.90 +1.93%
Volume: 14,088,475
Track GDX

GLD 107.43

+0.45 +0.42%
Volume: 14,788,990
Track GLD

HAR 38.09

-0.56 -1.45%
Volume: 698,021
Track HAR

HES 56.98

+0.00 +0.00%
Volume: 3,227,272
Track HES

JNY 17.86

-0.05 -0.28%
Volume: 1,969,508
Track JNY

PFE 16.96

-0.06 -0.35%
Volume: 36,104,767
Track PFE

URS 40.13

-0.30 -0.74%
Volume: 544,008
Track URS

WYE 50.39

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


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