He said his shop has been quite slow these days, for the third quarter, his company has not bought any new stocks other than Sprint (S), which he finished buying. He talked about his long positions: Sprint (S), Apple (AAPL), Pfizer (PFE), Vodafone (VOD), and Carefusion (CFN) and short positions: St. Joe Company (JOE) and rating agencies – Moody’s (MCO) and S&P parent company, McGraw-Hill (MHP)
GuruFocus tracks Einhorm’s long positions. As he mentioned in the interview, he does not typically hedge his long positions. If he thinks a stock does not present good value to be in his portfolio and he wants to reduce exposure to it, he simply sells it. During the 3Q10, he sold out the following two stocks::
No. 1: Lockheed Martin Corp. (LMT), Sell: 1.63% of the portfolio - Total: 0 Shares Lockheed Martin Corp. is a global enterprise principally engaged in the research, design, development, manufacture and integration of advanced-technology systems, products and services. Lockheed Martin Corp. has a market cap of $24.91 billion; its shares were traded at around $69.18 with a P/E ratio of 9.7 and P/S ratio of 0.55. The dividend yield of Lockheed Martin Corp. stocks is 4.34%. Lockheed Martin Corp. had an annual average earning growth of 17% over the past 10 years. GuruFocus rated Lockheed Martin Corp. the business predictability rank of 2.5-star.
No. 2: EMC Corp. (EMC), Sell: 3.19% of the portfolio - Total: 0 Shares EMC Corporation and its subsidiaries design, manufacture, market and support a wide range of hardware and software products and provide services for the storage, management, protection and sharing ofelectronic information. Emc Corp. has a market cap of $45.6 billion; its shares were traded at around $22.13 with a P/E ratio of 23.8 and P/S ratio of 3.25. Emc Corp. had an annual average earning growth of 8.2% over the past 5 years.
Check out Einhorn’s complete stock portfolio by click on David Einhorn.