David Einhorn

David Einhorn

Last Update: 2014-11-14

Number of Stocks: 47
Number of New Stocks: 12

Total Value: $6,931 Mil
Q/Q Turnover: 16%

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

David Einhorn Watch

  • Hedge Fund Greenlight Capital Buys MRVL, CBS, LM, GM, GDX, AAPL

    Renowned hedge fund manager David Einhorn just reported his third quarter portfolio. Einhorn has made his fame for his long term performance and his successful short selling. As of 09/30/2011, his firm Greenlight Capital owns 39 stocks with a total value of $4.7 billion. These are the details of the buys and sells.

    His portfolio is overweight in technology and healthcare, light in industrial and basic materials.  


  • Einhorn Explains Green Mountain Short

    Hedge fund manager David Einhorn of Greenlight Capital elaborated on his short position of Green Mountain Coffee (GMCR) in his latest investor letter.

    Einhorn specifically singled out the cozy relationship between GMCR and M. Block & Sons.  


  • Hedge Fund Manager David Einhorn Bought CBS, GM, MRVL

    Renowned hedge fund manager David Einhorn released his third quarter letter. He discussed his short position in Green Mountain Coffee (GMCR) again. He also bought into CBS Corporation (CBS), General Motors Company (GM) and Marvell Technology Group Ltd. (MRVL).

    According to the shareholder letter, Greenlight Capital, L.P., Greenlight Capital Qualified, L.P. and Greenlight Capital Offshore (collectively, the "Partnerships") returned (1.2)%, (0.6)% and (0.8)%1 net of fees and expenses, respectively, in the third quarter of 2011, bringing the respective year to date net returns to (6.2)%, (5.6)% and (6.1)%.  


  • Lehman Brothers 2.0 - More Bank Earnings Hocus Pocus?

    For me, one of the largest red flags in the market has been the continued poor health of financials. The reason, of course, is that they are struggling to shrink their balance sheets, “extend and pretend” on their loan books, and earn their way out of impending Japanization. I’m not sure where I got this little piece of wisdom from (and if you can prove it wrong please let me know): There has never been a bull market in history that hasn’t been lead by financial stocks. A sobering thought.

    Banks are, despite all their crimes, still the veins and arteries that pump credit around the body of the economy which acts as a lifeblood to economic activity.  


  • Stocks to Buy on Dips: BDX

    If you have been priming your portfolio for a significant buying opportunity, this series of articles are targeted at you. In the series, I am going to look at companies with the following characteristics:
    • Companies built to last. This means wide moat, pricing power, and durable competitive advantage. We will not deal with a lot of technical hocus-pocus and will not consider most technology stocks because of the ever-changing playing field.
    • Companies with strong FCF and good history of FCF growth in the last decade, preferably with market cap which is less that 12*FCF. Why 12*FCF? Assuming a 1% growth in FCF forever, with a 10.2% discount rate, gives us the magic number 12*FCF as the terminal value of the stock. What this means is that the market is pricing the company for a less than half of the U.S. economic growth rate (which is around 2%, if seen over a period of larger than 30 years) and a 10% discount rate.
    • Companies with good ROE with little or no debt, or companies with good ROIC. We will try to look at companies which have manageable levels of debt. We will err on the side of safety.
    • Companies with good management practices and good history of shareholder returns. This will look at the share counts, buybacks, dividend along with the management compensation, options and stock awards. Good insider holding/guru holding will be a plus.
    • Companies with very good balance sheet. We don’t want the company to face any major headwinds because of credit crunch in the next year. In particular we would like the company to be well financed with a good current ratio.
    Today, I am going to pitch medical device maker Becton-Dickinson (BDX).  


  • David Einhorn Is Betting on Gold-Mining Companies

    Hedge fund manager David Einhorn is betting that gold-mining companies will outperform bullion, reversing the trend from the past six months.

    “A substantial disconnect has developed between the price of gold and the mining companies,” Einhorn said today in a conference call discussing results at Greenlight Capital Re Ltd. (GLRE), the reinsurer where he is chairman.  


  • David Einhorn's Best Stocks: BAGL, WAG

    David Einhorn is Greenlight Capital president. Greenlight Capital is a well known hedge fund founded in 1996. Since then, it has had 27% average in revenues. David Einhorn is always related to short selling, expressly, borrowing stock for a short period of time, selling it and then repurchase such stock at a lower price. In fact, that is his philosophy. He focuses on preserving capital and his goal is to buy stock that will remain strong.

    He always makes research before investing, but what´s curious is that he thinks that “you never really know what will happen”. Despite the uncertainty, the journey is well worth the effort.  


  • Einhorn Probably Regrets Selling MI Developments

    Hedge fund manager David Einhorn probably regrets bailing on his investment in Canadian real estate company MI Developments (MIM.TO).

    MI Developments owns and develops industrial real estate properties in North America and is controlled through a block of super-voting shares by Frank Stronach, its 76-year-old chairman, who is the founder of the auto parts giant Magna International.  


  • The Case for Shorting Green Mountain Coffee – Put in Perspective

    David Einhorn announced last week that he is shorting the stock of Green Mountain Coffee Roasters Inc. (GMCR). He presented a detailed presentation on why he is shorting the stock. The stock declined more than 20% this week even as market went higher.

    Einhorn certainly deserves to be followed with his shorts. His most recent publicized short was St. Joe (JOE), the controversial position he held against Bruce Berkowitz. With Bruce Berkowitz in dismal these days, St. Joe stock is moving favorably toward Einhorn.  


  • David Einhron GCMR

    David Einhorn Value Investing Congress Presentation 2011 Greenmountain[url=http://www.valuewalk.com/value-investing-congress-2/david-einhorn-qa/]  


  • Two of David Einhorn’s Largest Positions Now Involve Gold

    Value investing and gold. Do they go together?

    Over the past decade successful investing and gold certainly do. In 10 years gold has increased roughly four times while the stock market has gone virtually nowhere.  


  • David Einhorn Increases Position in CareFusion Corp. by 33%

    David Einhorn increased his position in CareFusion Corp. (CFN) by 33% at the average price of $24.76 on 08/15/2011, as reported in the latest 13G filings by David Einhorn. He owns 12,668,724 shares. CareFusion is a global corporation serving the health care industry with products and services that help hospitals measurably improve the safety and quality of care. CareFusion Corp. has a market cap of $5.72 billion; its shares were traded at around $24.76 with a P/E ratio of 15.23 and P/S ratio of 1.62.

    Andreas Halvorsen bought 1,934,612 shares in the quarter that ended on 03/31/2011, which is 0.47% of the $11.95 billion portfolio of Viking Global Investors LP. John Keeley owns 188,290 shares as of 06/30/2011, an increase of 23.69% from the previous quarter. This position accounts for 0.0835% of the $6.13 billion portfolio of Keeley Fund Management. Edward Owens owns 4,284,654 shares as of 06/30/2011, an increase of 20.07% from the previous quarter. This position accounts for 0.5852% of the $19.89 billion portfolio of Vanguard Health Care Fund. George Soros owns 9,200 shares as of 06/30/2011, a decrease of 67.03% of from the previous quarter. This position accounts for 0.0035% of the $7.11 billion portfolio of Soros Fund Management LLC.  


  • David Einhorn Adds to Tech Stocks: Microsoft, Seagate Technology and Apple

    David Einhorn is the president and founder of Greenlight Capital, a value-oriented hedge fund. Unlike other funds, Greenlight does not leverage its positions to increase returns, and the fund does not generate large trading volumes. Nevertheless, since the fund's inception in 1996, Greenlight has generated more than a 25% annualized net return. Einhorn is best known for short-selling positions, most famously Allied Capital and Lehman Brothers, and his aggressive shorts in financials helped Greenlight prosper in its early days. However, he holds mostly long positions, emphasizing intrinsic value to achieve consistent returns and safeguard capital against market conditions. According to his second quarter portfolio update, Einhorn added to his position in Microsoft (MSFT), Seagate Technology (STX), and Apple (AAPL).

    Microsoft (MSFT)  


  • Hedge Fund Greenlight Capital Reports Q2 Portfolio

    Renowned hedge fund manager David Einhorn reported his second quarter portfolio. Einhorn made many trades during the second quarter. He added to his positions in out of favor techs such as Microsoft. He exits his position in Yahoo as discussed in his latest shareholder letter. As of 06/30/2011, Greenlight Capital owns 37 stocks with a total value of $4.7 billion. These are the details of the buys and sells.

    This is the portfolio chart of David Einhorn. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.  


  • David Einhorn Initiates Position in Huntington Ingalls Industries

    David Einhorn is the president and founder of Greenlight Capital, a value-oriented hedge fund. Unlike other funds, Greenlight does not leverage its positions to increase returns, and the fund does not generate large trading volumes. Nevertheless, since the fund's inception in 1996, Greenlight has generated more than a 25% annualized net return. Einhorn is best known for short selling positions, most famously Allied Capital and Lehman Brothers, and his aggressive shorts in financials helped Greenlight prosper in its early days. However, he holds mostly long positions, emphasizing intrinsic value to achieve consistent returns and safeguard capital against market conditions. According to his latest 13G filings, Einhorn entered into a new holding in Huntington Ingalls Industries (HII) with 2,510,000 shares at an average price of $34.28.

    Huntington Ingalls Industries (HII)  


  • Friday Value Overview

    Ending the week we have David Einhorn’s quarterly letter, talking about Yahoo (YHOO), Warren Buffett on Bloomberg alluding to Berkshire Hathaway’s (BRK.B, BRK.A) Mastercard (MA) position, a note about the terrible jobs report, and the bubble in online couponing.

    One of my favorite gurus, David Einhorn, released his Q2 letter today. Not surprisingly, he dropped Yahoo (YHOO), which he had bought into in the first quarter believing the sum of the parts were worth significantly more than the stock price. As we now know, you can't trust the sum when one or more of the parts are Chinese. Einhorn also made comments on the Greek crisis, detailing how the game is rigged among rating agencies, the government, and European banks. Credit default swaps were like gasoline thrown on fire for the 2008 crisis. He is intimating that swaps on Greek and other struggling European countries have the potential to create another crisis. I've long thought credit default swaps should simply be banned, at least in the U.S. What's the economic benefit to them other than a distortion to the markets? While we're on common sense policies that will never be implemented, I also think we should implement an 80% capital gains tax rate on securities held less than a day. Call it the really short term capital gains rate.  


  • David Einhorn Buys Seagate and Drops Yahoo in Q2

    David Einhorn manages Greenlight Capital, a hedge fund with over $6 billion in assets. From inception to August 2006, Einhorn achieved 29% annual returns. He looks at companies intrinsic values which he believes will safeguard them regardless of market conditions. In his recently reported second-quarter investor letter, he announced that he bought one company, Seagate Technology (STX), and made a surprising exit out of Yahoo! (YHOO).

    Seagate Technology (STX)  


  • David Einhorn's Q2 Investor Letter

    David Einhorn of Greenlight Capital released his second quarter investor letter on Wednesday, which is full of musings and surprises. Einhorn opines about the Greek crisis, the US debt ceiling, credit ratings agencies and other pressing financial matters. Following is an overview of the Partnerships’ investing movements for the quarter, including details on their one new buy and their prompt exit from Yahoo (YHOO).

    The full letter is here.  


  • Who is Management Really Listening To?

    One of the most noticeable areas of difference between the first and fourth edition of Benjamin Graham’s “The Intelligent Investor” is that the chapter regarding management is much smaller in the final version. Graham writes in the final edition:

    Ever since 1934, we have argued in our writings for a more intelligent and energetic attitude by shareholders toward their management….Shareholders are justified in raising questions as to the competence of the management when the results (1) are unsatisfactory in themselves, (2) are poorer than those obtained by other companies that appear similarly situated, and (3) have resulted in an unsatisfactory market price of long duration.  


  • Fifth Street Finance CEO Buys 30,000 Shares

    CEO of Fifth Street Finance Corp. (FSC) Leonard M. Tannenbaum bought 30,000 shares on 06/21/2011 at an average price of $11.58. The total transaction amount is $347,400. Fifth Street Finance Corp. is a specialty finance company that lends to and invests in small and mid-sized companies in connection with an investment by private equity sponsors. The company has a market cap of $758.3 million; its shares were traded at around $11.65 with a P/E ratio of 11.7 and P/S ratio of 10.8. The dividend yield of Fifth Street Finance Corp. stocks is 11.2%.

    Leonard Tannenbaum is the CEO of Fifth Street Finance, and has been since October 2007. He is also chairman of the board. Mr. Tannenbuam founded a number of private investment firms, including Fifth Street Finance. Before that, he worked as an equity analyst for Merill Lynch. He resigned from his position as president of Fifth Street Finance in early 2010 at a board of directors meeting.  


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User Comments

Utonates@gmail.com
ReplyUtonates@gmail.com - 3 weeks ago
hihi i http://www.gurufocus.com/stock/TSE:8308&summary mentioned that David Einhorn (Trades, Portfolio) bought huge stakes in Resona holdings but why is it not reflected in his portfolio?

Wofwof
ReplyWofwof - 1 month ago
I am happy to find this site and have read this information. This is really great site! I’ll definitely be back for updates.
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