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 15.25

-0.02 -0.13%
Volume: 4,556,878
Track AEO

BJS 18.68

-0.22 -1.16%
Volume: 4,351,933
Track BJS

CF 90.27

+4.37 +5.09%
Volume: 2,961,013
Track CF

CNW 32.07

+1.19 +3.85%
Volume: 908,878
Track CNW

CTV 25.58

-0.12 -0.47%
Volume: 1,726,718
Track CTV

DFS 15.27

-0.18 -1.17%
Volume: 6,547,700
Track DFS

DPS 26.90

+0.40 +1.51%
Volume: 1,327,886
Track DPS

EMC 16.74

-0.24 -1.41%
Volume: 23,247,814
Track EMC

GDX 54.78

+1.10 +2.05%
Volume: 17,765,354
Track GDX

GLD 119.18

+1.80 +1.53%
Volume: 30,992,618
Track GLD

HAR 37.11

+0.08 +0.22%
Volume: 599,450
Track HAR

HES 59.37

-0.43 -0.72%
Volume: 2,858,962
Track HES

JNY 16.65

-0.54 -3.14%
Volume: 2,884,395
Track JNY

PFE 18.74

-0.11 -0.58%
Volume: 47,655,207
Track PFE

URS 42.99

+0.67 +1.58%
Volume: 962,417
Track URS

WYE 50.39

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


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