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 16.16

+0.32 +2.02%
Volume: 5,169,595
Track AEO

BJS 19.69

+0.78 +4.12%
Volume: 2,922,060
Track BJS

CF 80.41

+1.36 +1.72%
Volume: 1,336,319
Track CF

CNW 30.06

-0.29 -0.96%
Volume: 2,076,337
Track CNW

CTV 28.77

+0.87 +3.12%
Volume: 712,058
Track CTV

DFS 15.38

+0.85 +5.85%
Volume: 9,393,506
Track DFS

DPS 26.67

+0.05 +0.19%
Volume: 2,466,975
Track DPS

EMC 17.01

+0.28 +1.67%
Volume: 24,131,225
Track EMC

GDX 49.28

+1.66 +3.49%
Volume: 15,187,759
Track GDX

GLD 108.19

+0.76 +0.71%
Volume: 18,448,963
Track GLD

HAR 39.09

+1.00 +2.63%
Volume: 580,673
Track HAR

HES 58.33

+1.35 +2.37%
Volume: 2,352,571
Track HES

JNY 19.19

+1.33 +7.45%
Volume: 2,651,463
Track JNY

PFE 17.43

+0.47 +2.77%
Volume: 46,176,906
Track PFE

URS 40.82

+0.69 +1.72%
Volume: 568,634
Track URS

WYE 50.39

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


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