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David Einhorn Greenlight Capital
AUM
$2.05B
Turnover
28.26%
1-Year Est. Return
78.75%
David Einhorn is the founder of Greenlight Capital, a long/short equity firm known for deep fundamental research and high-profile idea presentations. He became widely known for critical short theses and for value-oriented long positions that can diverge sharply from consensus. Einhorn’s quarterly letters and conference talks are still closely read by professional and retail investors alike.
This Fund
S&P 500
This Quarter Est. Return
-1.03%
1 Year Est. Return
+78.75%
3 Year Est. Return
+169.15%
5 Year Est. Return
+457.09%
10 Year Est. Return
+683.15%
AUM
$6.93B
AUM Growth
-$246M
(-3.4%)
Cap. Flow
-$36.2M
Cap. Flow % of AUM
Cap. Flow %
-0.52%
Top 10 Holdings %
Top 10 Hldgs %
56.61%
Holding
52
New
12
Increased
7
Reduced
16
Closed
5
Avg Time Held
0.7
years
Top 10 Avg Time Held
0.7
years
Top 20 Avg Time Held
0.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CNX Resources
CNX
|
+$196M |
| 2 |
Citizens Financial Group
CFG
|
+$186M |
| 3 |
ON Semiconductor
ON
|
+$139M |
| 4 |
Aecom
ACM
|
+$108M |
| 5 |
DigitalBridge
DBRG
|
+$85.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Micron Technology
MU
|
+$320M |
| 2 |
Marvell Technology
MRVL
|
+$182M |
| 3 |
CSC
Computer Sciences
CSC
|
+$147M |
| 4 |
Somnigroup International
SGI
|
+$107M |
| 5 |
Cigna
CI
|
+$95.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 49.02% |
| 2 | Financials | 11.15% |
| 3 | Energy | 10.46% |
| 4 | Communication Services | 9.51% |
| 5 | Industrials | 6.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Micron Technology
MU
$1.02T
| $1.04B | 15.06% |
30,474,593
-9,869,700
| -24% | -$320M |
2013 Q3
4 quarters
|
|
2
Apple
AAPL
$5.02T
| $924M | 13.33% |
36,688,168
-1,121,200
| -3% | -$27.5M |
2013 Q2
5 quarters
|
|
3
DELISTED
SUNEDISON, INC COM
SUNE
| $402M | 5.8% |
21,274,288
-29,200
| -0.1% | -$626K |
2013 Q4
3 quarters
|
|
|
4
Marvell Technology
MRVL
$210B
| $356M | 5.13% |
26,383,588
-13,195,740
| -33% | -$182M |
2013 Q2
5 quarters
|
|
|
AET
5
DELISTED
Aetna Inc
AET
| $244M | 3.52% |
3,009,188
-211,252
| -7% | -$17.2M |
2013 Q2
5 quarters
|
|
6
People Inc
PPLI
$2.84B
| $197M | 2.85% |
16,757,854
+6,238,880
| +59% | +$75.4M |
2013 Q2
5 quarters
|
|
7
Lam Research
LRCX
$297B
| $197M | 2.85% |
26,400,000
| – | – |
2014 Q1
2 quarters
|
|
|
8
Cigna
CI
$80.8B
| $188M | 2.71% |
2,073,800
-1,022,430
| -33% | -$95.6M |
2013 Q2
5 quarters
|
|
|
9
Citizens Financial Group
CFG
$27.5B
| $187M | 2.7% |
+8,000,000
| New | +$186M |
2014 Q3
0 quarters
|
|
|
10
CNX Resources
CNX
$5.57B
| $185M | 2.66% |
+5,850,000
| New | +$196M |
2014 Q3
0 quarters
|
|
11
DELISTED
EMC CORPORATION
EMC
| $169M | 2.44% |
5,780,200
-119,800
| -2% | -$3.46M |
2013 Q4
3 quarters
|
|
12
NOV
NOV
$7.2B
| $169M | 2.44% |
2,222,162
+468,015
| +27% | +$38.7M |
2014 Q1
2 quarters
|
|
13
Oil States International
OIS
$527M
| $167M | 2.41% |
2,700,688
-49,312
| -2% | -$3.09M |
2013 Q2
5 quarters
|
|
14
Voya Financial
VOYA
$8.75B
| $158M | 2.28% |
4,041,368
| – | – |
2013 Q2
5 quarters
|
|
|
BAGL
15
DELISTED
EINSTEIN NOAH RESTAURANT GROUP, INC CMN STK (DELAWARE)
BAGL
| $136M | 1.96% |
6,733,469
| – | – |
2013 Q2
5 quarters
|
|
16
VanEck Gold Miners ETF
GDX
$24.9B
| $135M | 1.95% |
6,319,308
-2,334,588
| -27% | -$59.7M |
2013 Q2
5 quarters
|
|
|
17
ON Semiconductor
ON
$28.8B
| $134M | 1.93% |
+15,000,000
| New | +$139M |
2014 Q3
0 quarters
|
|
18
Liberty Global Class C
LBTYK
$2.56B
| $128M | 1.84% |
3,843,121
| – | – |
2013 Q2
5 quarters
|
|
19
AGNC Investment
AGNC
$10.4B
| $121M | 1.74% |
5,688,308
+450,000
| +9% | +$10.4M |
2014 Q1
2 quarters
|
|
20
DELISTED
Anadarko Petroleum
APC
| $113M | 1.63% |
1,115,000
| – | – |
2013 Q4
3 quarters
|
|
|
URS
21
DELISTED
URS CORP
URS
| $110M | 1.59% |
1,913,879
| – | – |
2013 Q2
5 quarters
|
|
22
Take-Two Interactive
TTWO
$38B
| $109M | 1.57% |
4,704,600
-95,400
| -2% | -$2.16M |
2013 Q4
3 quarters
|
|
23
DELISTED
Conn's Inc.
CONN
| $108M | 1.56% |
3,563,000
+63,000
| +2% | +$2.45M |
2014 Q1
2 quarters
|
|
24
Amdocs
DOX
$6.54B
| $106M | 1.52% |
2,302,245
| – | – |
2013 Q2
5 quarters
|
|
25
DELISTED
Time Inc.
TIME
| $103M | 1.49% |
4,416,091
+1,066,091
| +32% | +$25.7M |
2014 Q2
1 quarter
|
|
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AAM
David Einhorn's Q3 2014 Portfolio in Review
As of Q3 2014, David Einhorn held 52 positions worth $6.93B, down 3.4% from $7.18B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
David Einhorn's Q3 2014 filing shows 12 new, 7 increased, 16 reduced and 5 closed positions. Its largest new stake was CNX Resources: 5,850,000 shares worth $185M. The largest sale was Micron Technology, an estimated $320M.
By sector, the portfolio is most concentrated in Technology at 49% of assets, down from 54% a quarter earlier, followed by Financials and Energy.
- David Einhorn's largest Q3 2014 buy was CNX Resources: 5,850,000 shares worth $185M.
- David Einhorn added most to People Inc in Q3 2014, an estimated $75.4M increase.
- David Einhorn's biggest Q3 2014 reduction was Micron Technology, cutting an estimated $320M.
- David Einhorn fully exited Computer Sciences in Q3 2014, selling an estimated $147M.
- David Einhorn's ten largest holdings make up 57% of its $6.93B portfolio in Q3 2014.
- David Einhorn opened 12 new positions and closed 5 in Q3 2014.
- David Einhorn's portfolio value fell 3.4% quarter-over-quarter to $6.93B.
Based on Greenlight Capital's 13F filing for Q3 2014, filed 14 Nov 2014.