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