David Einhorn

David Einhorn

Last Update: 07-01-2015

Number of Stocks: 43
Number of New Stocks: 7

Total Value: $7,653 Mil
Q/Q Turnover: 20%

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

David Einhorn Watch

  • Market Valuations and Expected Returns – June 26, 2015

    The market was up more than 30% in 2013, the best year since the go-go years of 1990s. 2014 was another strong year for the market. The S&P 500 index was up more than 13%. Since the market recovery in 2009, the stock market has been up for 6 consecutive years. Yet in January 2015, the stock market benchmark S&P 500 lost 3.10%. In February, the market regained its strength by increasing 5.49%. Throughout March, the market went down by 1.74%. In April and May, the market was up by 0.85% and 1.05% separately.


    Bernard Baruch once said, “A market without bears would be like a nation without a free press. There would be no one to criticize and restrain the false optimism that always leads to disaster.”

      


  • David Einhorn’s Three Favorite High Yield Dividend Stocks

    David Einhorn (Trades, Portfolio) is one of the most successful long/short hedge fund managers. He has averaged returns of nearly 20% a year since starting his hedge fund Greenlight Capital in 1996.


    David Einhorn (Trades, Portfolio) owns several dividend stocks with yields over 3%. This article examines the 3 dividend stocks that make up the largest percentage of David Einhorn (Trades, Portfolio)’s portfolio with dividend yields over 3%.

      


  • Why GM Is A Buy

    It has been a few years since General Motors Company (GM) resurected from the ashes of its former incarnations bankruptcy. It is still the leading automaker in the States and slowly U.S. taxpayers are forgiving the company its previous mistakes. In October 2010 the automaker integrated AmeriCredit to continue to offer credit to customers. Currently, Fiat Chrysler Automobiles CEO Sergio Marchionne is pursuing GM to merge with the Italian automaker. Sergio Marchionne has a reputation as a briliant manager who is highly skilled at creating shareholder value. His arguments are laid out in a presentation called Confessions of a Capital Junkie. His main point is that automakers are achieving RoIC below their average cost of capital. Long term that is a huge problem, and he thinks the solution lies in a few mega companies. By his estimates a combination of Fiat with another major automaker would result in between $2.8 billion to $5 billion in benefits per year. Fiat and GM’s combined Ebitda is around $19 billion, so that is signficant. GM CEO Mary Barra, meanwhile has indicated to be uninterested.


      


  • Micron May Be the Biggest Guru Bargain Of All

    Micron Technology (MU) was founded in Boise, Idaho and manufacturers and markets a basic commodity for the computer industry – DRAM, NAND Flash memory, CMOS image sensors, along with other semiconductor components. was founded in Boise, Idaho and incorporated in October 1978.


    From a consistency standpoint, Micron fails to deliver, but you don’t get paid based on the past. In the last five years, Micron has worked hard to improve margins and efficency. It has doubled revenue, increased both gross and operating margins and has built a great base of relationships to drive the company forward for years to come.

      


  • Stay Away From David Einhorn's Fourth-Largest Bet

    David Einhorn's Greenlight Capital disclosed an equity portfolio valued at some $7.65 billion as of the end of the first quarter of 2015. The equity portfolio is mainly invested in Technology (48%), Consumer Discretionary (21%) and Industrials (14%) stocks.


    In a previous article we analyzed the top three positions held as of the end of March 2015. So now, let´s take a look at his fourth-largest position, Consol Energy Inc. (CNX).

      


  • Buy the Keysight Technologies Spinoff After the Dip

    Research has shown that investing in spin-offs is a proven and consistent way of beating the market. Since massively outperforming the S&P 500 following its separation last year, shares of Keysight Technologies (KEYS) have lagged the market and its former parent Agilent Technologies (A) considerably.


    Does the pullback represent a buying opportunity for new investors?

      


  • Ken Heebner's stocks trading with low P/E

    Ken Heebner (Trades, Portfolio) is the co-founder of Capital Growth Management, which is a privately owned investment manager. It was founded in 1990 and is based in Boston and the firm invests in the public equity markets of the United States. The firm provides its services to charitable organizations, pension and profit sharing plans, investment companies, and high net worth individuals.


    His portfolio is composed of 67 stocks and 33 of them are new stock bought during the last quarter. The total value of the portfolio is now $3,656 million and the following are the stocks that are trading with lowest P/E ratio and may be attractive for other investors.

      


  • A Close Look of Herbalife Clubs Worldwide: Part I

    This is a very long post. I have done a lot of work on Herbalife that should be made public – and I am travelling on several long-haul plane journeys which gave me time to splice it all together. [Now in New York via London and the Middle East.]


    There are Herbalife groups all around the world and they reflect the character of the community they are in.

      


  • David Einhorn's Largest Bets

    David Einhorn (Trades, Portfolio)´s Greenlight Capital disclosed an equity portfolio valued at some $7.65 billion as of the end of the first quarter of 2015. The equity portfolio is mainly invested in Technology (48%), Consumer Discretionary (21%) and Industrials (14%) stocks.


    In this article we will look into the top three picks held at the end of Q1. Among the 10 largest holdings from Greenlight Capital’s equity portfolio (which accounts for 62.95% of the total portfolio value), the three top are: Apple Inc. (AAPL), Micron Technology, Inc. (MU) and SunEdison, Inc. (SUNE). 

      


  • The Most-Bought Stocks of Investment Gurus in Q1

    Most value investors pride themselves on not following the crowd and investing in stocks where they see worth but that others have declined. Sometimes their perspectives on an opportunity line up, however, and multiple investors buy shares of the same company.


    For bargain investors, values continued not to appear in abundance in the first quarter. The S&P 500 returned 0.95% for the period, and the stock market has been on its longest bull run in the past 70 years, increasing 95% over the past five years. As Steven Romick (Trades, Portfolio) of FPA Crescent Fund said:

      


  • A Look Into Morgan Stanley's Upgrade of General Motors

    Morgan Stanley analyst Adam Jonas recently upgraded General Motors (GM), saying that the company may consider radical strategic changes going forward as share buy backs are not working. In his latest report he wrote:


      


  • Apple, SunEdison and Biogen: Hellman, Jordan Management's Top 3 Stocks Outperform the Rise in the S&P 500 Index

    Hedge fund Hellman, Jordan Management Company, Inc disclosed an equity portfolio valued at some $548.6 million as of the end of the first quarter of 2015. The equity portfolio is mainly invested in Technology (32%), Consumer Discretionary (24%) and Health Care (17%) stocks. The fund’s last 13F filing showed that the fund raised its exposure towards consumer discretionary and tech stocks but reduced its holdings in the health care and industrials sector.


    In this article we will look into the top three picks held at the end of Q1. Among 10 largest holdings from Hellman, Jordan’s equity portfolio (which amass 37.07% of the total portfolio value), the three top are: Apple Inc. (AAPL), SunEdison, Inc. (SUNE) and Biogen Inc. (BIIB).

      


  • David Einhorn initiates a position in General Motors

    David Einhorn (Trades, Portfolio) is president of Greenlight Capital – a value-oriented investment adviser. He believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions. He is a noted activist investor, taking positions in companies and then pushing management to implement changes.


    Last quarter, Einhorn initiated a position in General Motors (GM) buying 9,467,986 shares of the company. General Motors is under a turnaround, and its business is improving. It has now been profitable for 21 consecutive quarters. Last quarter, GM's business delivered strong core operating performance with almost all key operating metrics including global deliveries, net income and adjusted EBIT improving.

      


  • David Einhorn Keeps Buying AerCap

    David Einhorn (Trades, Portfolio) is president of Greenlight Capital – a value-oriented investment adviser. He believes an investment approach emphasizing intrinsic value will achieve consistent absolute investment returns and safeguard capital regardless of market conditions. He is a noted activist investor, taking positions in companies and then pushing management to implement changes.


    Last quarter, Einhorn increased his stake in Aercap (AER) by buying 1,839,161 shares of the company. As of March 31, 2015, he was holding 5,581,800 shares of the company. The following chart shows his holding history in the company.

      


  • Insiders are buying General Motors Shares

    In the last couple of months, three different insiders have purchased General Motors’ (GM) stock. While the company’s directors Patricia F Russo and Linda R Gooden purchased 1,500 and 1,000 shares, respectively in April 2015; another director James J Mulva purchased 28,343 shares in May 2015.


    It’s not only insiders who are getting bullish on GM of late. General Motors' stock is also seeing significant interest from fund managers off late. Last quarter, David Einhorn (Trades, Portfolio) and Leon Cooperman (Trades, Portfolio) initiated a position in the company while several other fund managers including George Soros (Trades, Portfolio), David Tepper (Trades, Portfolio), Ken Heebner (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) increased their holdings in the company.

      


  • David Einhorn's Top 5 New Stock Buys

    David Einhorn (Trades, Portfolio) of hedge fund Greenlight Capital announced his first quarter buys this week but also told shareholders in his first quarter letter that he drastically reduced his long exposure from 30% to 14%.


    The letter, obtained by Marketfolly, went on to say: "Bottom up: short candidates are easy to find ... the opportunity set on the long side is quite constrained. Top-down: Valuations are on the high side and earnings are in a precarious spot."

      


  • David Einhorn Adds to stake in Civeo Corp

    David Einhorn (Trades, Portfolio) is the founder of Greenlight Capital, a $7,653 million’s portfolio hedge fund composed of 43 stocks.


    After his first buy on 2014 Q2 and his increase by 73.19% on Q4 (same year), on May 05 2015 he slashed his stake of Civeo Corp (CVEO) by 70.80% getting back now to 3,111,878 shares held with an average price of $12.12/share. He is now holding CVEO with an average loss of 26% (9% of which was accumulated since that sale).

      


  • David Einhorn Doubles Stake in Chicago Bridge & Iron

    Chicago Bridge and Iron (CBI) stock jumped 8% in Friday’s trading after Bloomberg reported that Anadarko Petroleum Corp (APC) is poised to select a construction team led by Chicago Bridge & Iron Co. as its main contractor for a potential $15 billion Mozambique liquefied natural gas project. Chicago Bridge & Iron’s current backlog is ~$30 bn and this win may help it significantly increase its backlog and revenue visibility in the near term. Further, Anadarko proceeding with this project will also reassure investors who are worried about the fate of energy mega-projects amid the oil market downturn.


    Chicago Bridge and Iron is trading at 9.68 time current year earnings and analysts are expecting its top and bottomline to decline slightly over the next year. A win of the size of Mozambique LNG project may help the company grow its revenue next year, instead of slight decline which analysts are modeling. So, there is a good chance of the next year numbers getting revised upwards when the deal is formally announced.

      


  • Halyard Health is a Long-Term Winner

    On October 31, 2014, Halyard Health (HYH) was spun off of Kimberly-Clark (KMB). Kimberly-Clark had planned on spinning the business into a separate entity a couple of years ago to better focus on its core consumer and professional brands.


    While HYH shares performed very well following the separation, shares are down over 15% from its highs.

      


  • Energy Guru Boone Pickens Addresses David Einhorn's Attack On Frackers

    This week David Einhorn (Trades, Portfolio) called out North American fracking companies.

    What does T. Boone Pickens a man who saw his first frack job in 1952 think about Einhorn's comments?   





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