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 16.10

-0.06 -0.37%
Volume: 1,380,364
Track AEO

BJS 19.33

-0.36 -1.83%
Volume: 1,167,528
Track BJS

CF 78.21

-2.20 -2.74%
Volume: 778,836
Track CF

CNW 30.75

+0.69 +2.30%
Volume: 699,871
Track CNW

CTV 29.01

+0.24 +0.83%
Volume: 381,342
Track CTV

DFS 15.11

-0.27 -1.76%
Volume: 2,297,159
Track DFS

DPS 27.37

+0.70 +2.62%
Volume: 820,023
Track DPS

EMC 17.07

+0.06 +0.35%
Volume: 11,217,894
Track EMC

GDX 48.86

-0.42 -0.85%
Volume: 6,229,515
Track GDX

GLD 108.08

-0.11 -0.10%
Volume: 8,525,604
Track GLD

HAR 38.26

-0.83 -2.12%
Volume: 212,762
Track HAR

HES 57.91

-0.42 -0.72%
Volume: 881,181
Track HES

JNY 19.06

-0.13 -0.68%
Volume: 576,777
Track JNY

PFE 17.57

+0.14 +0.80%
Volume: 15,836,646
Track PFE

URS 40.70

-0.12 -0.29%
Volume: 242,093
Track URS

WYE 50.39

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


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