David Einhorn

David Einhorn

Last Update: 11-14-2016

Number of Stocks: 36
Number of New Stocks: 2

Total Value: $5,232 Mil
Q/Q Turnover: 6%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

David Einhorn Watch

  • Why Did David Einhorn Buy Yelp?

    Greenlight Capital, the hedge fund run by David Einhorn (Trades, Portfolio) with over $10 billion in assets under management, purchased 380,000 shares in Yelp (NYSE:YELP), the beleaguered local search site and app. With the stock down almost 65% in the last year, why did Einhorn make the purchase?


    The new stake, which is worth about $6.46 million, represents 0.065% of Greenlight’s total capital, so it’s not the biggest or highest confidence stake in the company. Also, at 0.57% of the company’s total shares outstanding, Greenlight’s purchase isn’t a sign that he is planning on becoming an activist owner – at least not yet.

      


  • David Einhorn's Top 5 New Q4 Buys

    In the final quarter of a year that would end with his Greenlight Capital hedge fund down more than 20%, David Einhorn (Trades, Portfolio) purchased 15 new stocks, he disclosed Tuesday.


    Einhorn discussed his biggest new holding, Macy’s Inc. (NYSE:M), in his quarterly letter. He also bought Avandgrid Inc. (NYSE:AGR), Mylan NV (NASDAQ:MYL), Allergan PLC (NYSE:AGN) and DSW Inc. (NYSE:DSW) has his next largest positions. Greenlight’s public equity portfolio had a value of $5.5 billion and 48 stocks listed in total at quarter-end.

      


  • David Einhorn Rebounds – Somewhat

    After suffering the worst year in his fund’s history, David Einhorn (Trades, Portfolio) has started 2016 on a better foot as some of his earlier ideas began to prove correct.


    Einhorn’s Greenlight Capital fell 20.2% in 2015 as Einhorn shorted the top two performing stocks in the S&P 500, Netflix (NASDAQ:NFLX) and Amazon (NASDAQ:AMZN), and was long two of its 10 worst performing stocks, among other missteps. Greenlight also lost money in each quarter of the year, in which the S&P 500 returned 1.4% including reinvested dividends.

      


  • Guru Stocks Trading Below Peter Lynch Value

    According to GuruFocus All-in-One Screener, several gurus are focusing on stocks whose Peter Lynch fair value is far above the current price. The following stocks are trading with a wide margin of safety, and at least five gurus are shareholders.


    AerCap Holdings NV (AER) is trading at about $28 per share, and the Peter Lynch value gives the stock a fair price of $135.01, giving the stock a margin of safety of 79%.

      


  • Stocks in the Spotlight

    Indexes had a nice rebound along with oil on Tuesday on renewed optimism that oil producers will look to curb production in the near future. The problem with this is twofold. For one, Saudi Arabia has been pretty adamant that it plans to keep producing oil in order to preserve market share. Second, more supply is set to hit the market, this time from Iran whose sanctions have been lifted. Neighboring Iraq is also set to increase its oil production from 3.8 million barrels per day to 4 million plus.


    The main stock to watch on Wednesday, Jan. 27, will be Apple (NASDAQ:AAPL) whose shares are down after hours after it reported better-than-expected earnings but missed analyst estimates on revenue. Earnings came in at $3.28 per share on $75.9 billion in revenue vs. analyst expectations of $3.23 per share on revenue of $76.54 billion.

      


  • David Einhorn May Push for SunEdison Sale

    SunEdison (SUNE) is an important position for David Einhorn (Trades, Portfolio) with a 6.8% stake (4% through Greenlight Capital). SunEdison does everything from development and finances, up to installment and operation of solar power plants. It is one of the largest renewable energy companies in the world (market cap of nearly $1 billion) and is headquartered in the U.S.


    Last year, it was one of Einhorn's biggest losers as the firm declined over 90% after announcing a controversial deal with Vivint in July 2015. This deal involves a complicated transaction with Vivint and TerraForm Power (NASDAQ:TERP). The latter is a company that often buys developed projects from SunEdison. Guru, and now activist shareholder, David Tepper (Trades, Portfolio) has been railing against the deal.

      


  • Polaris Industries and Spirit Airlines Are on the Casualty List

    Sometimes bad things happen to good stocks.


    In an effort to find bounce-back candidates, I compile a quarterly Casualty List of stocks that I think have been unduly punished by the marketplace.

      


  • Einhorn Invests in Macy's

    David Einhorn (Trades, Portfolio) has also jumped on the Macy's (NYSE:M) express along with fellow activist Starboard Value. The guru, who had a terrible 2015, is looking for some redemption, and the Macy's thesis makes a lot of sense.


    Retail, as a whole, is currently out of favor. Many firms are struggling, distressed or already bankrupt. Macy's is doing much better by comparison but isn't exactly knocking the ball out of the park, either, and its share price has suffered:

      


  • David Einhorn Comments on ARM Holdings

    Our thesis for our short position in ARM Holdings (ARM) was that falling chip prices,slowing smartphone growth and more competition from Intel would limit ARM’s potentialroyalty pool. Two of the three have occurred, but Intel’s progress has been disappointing.Also, ARM was more successful than we expected in offsetting its problems by increasing theroyalty rate it charges its customers. We covered the position at a small loss and moved on.

    From David Einhorn (Trades, Portfolio)'s Green Light Capital fourth quarter 2015 shareholder letter.  


  • David Einhorn Comments on Micron Technology

    MU (NASDAQ:MU) was our biggest winner in 2014 and our biggest loser in 2015. We have written a lotabout it and have exited the position. When all the dust settled, our average purchase was at$19.93 and our average sale was at $22.14, generating an IRR of 14%. The coulda-woulda-shoulda perspective that this was a disaster is belied by the overall decent return we made onthe investment.

    From David Einhorn (Trades, Portfolio)'s Green Light Capital fourth quarter 2015 shareholder letter.  


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