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 15.90

+0.34 +2.19%
Volume: 6,287,125
Track AEO

BJS 18.17

-0.03 -0.16%
Volume: 6,730,863
Track BJS

CF 88.55

-1.23 -1.37%
Volume: 895,575
Track CF

CNW 32.62

+0.80 +2.51%
Volume: 1,077,541
Track CNW

CTV 26.00

+0.63 +2.48%
Volume: 1,454,174
Track CTV

DFS 15.18

+0.35 +2.36%
Volume: 8,937,122
Track DFS

DPS 26.80

+0.09 +0.34%
Volume: 1,260,768
Track DPS

EMC 17.13

+0.49 +2.94%
Volume: 39,440,501
Track EMC

GDX 50.69

-2.84 -5.31%
Volume: 31,698,103
Track GDX

GLD 113.75

-4.95 -4.17%
Volume: 79,186,419
Track GLD

HAR 36.35

+0.20 +0.55%
Volume: 888,687
Track HAR

HES 57.10

-2.12 -3.58%
Volume: 5,479,092
Track HES

JNY 16.85

+0.85 +5.31%
Volume: 2,010,763
Track JNY

PFE 18.49

-0.15 -0.80%
Volume: 50,051,363
Track PFE

URS 42.42

+0.48 +1.14%
Volume: 745,547
Track URS

WYE 50.39

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


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