Einhorn's Greenlight Capital Loads Up On Pfizer (PFE), Moves Out of Gold ETF (GLD)

David Einhorn's Greenlight Capital hedge fund released his 13F for the quarter ended 6/30/09. Besides liquidating his massive position in ETF SPDR Gold Trust (NYSE: GLD), which was already known through a letter, Einhorn also notably raised his stake in Prizer (NYSE: PFE), showed a new put position in GE (NYSE: GE) with no underlying common stock position and a new position in Cardinal Health (NYSE: CAH).

Einhorn's moved out of the gold ETF because the costs were too high. He moved the money into gold bullion.

Notable Moves:

• New stake 1.75 million share stake in ATP Oil & Gas Corp. (ATPG)
  
• New 3.97 million share stake in Cardinal Health (NYSE: CAH)
  
• Lowers stake in EMC (NYSE: EMC)
  
• New PUTS on GE (NYSE: GE), but no underlying stock.
  
• Raises stake in IPC Holdings Ltd. (IPCR) from 793K sharse to 1.84 million shares
  
• Raises stake in Pfizer (NYSE: PFE) from 5.9 million shares to 12 million shares
  
• Lowers stake in MEMC Electronic Materials Inc. (WFR) from 7.3 million shares to 3.6 million shares
  
• Liquidated Con-Way (NYSE: CNW)
  
• Liquidated Dow Chemical (NYSE: DOW)
  
• Liquidated Jones Apparel (NYSE: JNY)
  
• Liquidated large stake in SPDR Gold Trust (NYSE: GLD) (Already known, went to bullion)
  
• Liquidated Western Digital (NYSE: WDC)
  
• Liquidated Williams Sonoma (NYSE: WSM)
  
• Liquidated Target (NYSE: TGT)

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