GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

David Einhorn's Top 5 Second Quarter Positions

August 16, 2013 | About:
Monica Wolfe

Monica Wolfe

127 followers
During the second quarter David Einhorn of Greenlight Capital bought seven new stocks. The guru’s portfolio now carries 30 stocks and is valued at $5.33 billion.



David Einhorn’s Top Five Holdings:

Apple (AAPL)

Einhorn’s largest holding is in Apple. The guru currently holds 2,397,706 shares, representing 0.26% of the company’s shares outstanding and a massive 17.8% of his total portfolio.

The guru did not make any changes to his holdings in Apple over the second quarter.

Einhorn’s holding history of Apple as of the second quarter:

1376671830774.png

The company designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players and sell a variety of related software, services, peripherals and networking solutions.

Apple’s historical revenue and net income:

1376674959421.png

The Peter Lynch Chart suggests that Apple is currently undervalued:

1376675033219.png

Apple has a market cap of $454.68 billion. Its shares are currently trading at around $500.57 with a P/E ratio of 12.60, a P/S ratio of 2.80 and a P/B ratio of 3.80. The company has seen an annual average earnings growth of 82.7% over the past 10 years.

GuruFocus rated Apple the business predictability rank of 4.5-star.

General Motors (GM)

Einhorn’s second largest holding is in General Motors where he holds 10.7% of his total portfolio. The guru currently holds 17,047,339 shares of GM, representing 1.25% of the company’s shares outstanding.

During the second quarter Einhorn cut his position in GM by 19.48%. The guru sold a total of 4,124,724 shares in the second quarter price range of $27.53 to $35.03, with an estimated average price of $31.68. Since then the price per share has increased approximately 9.5%.

Einhorn’s holding history as of the second quarter:

1376672761326.png

The company develops, produces and markets cars, trucks and parts worldwide. It does so through its three segments: General Motors North America, General Motors Europe and General Motors International Operations.

GM’s historical revenue and net income:

1376679688024.png

The Peter Lynch Chart suggests that the company is currently undervalued:

1376679889025.png

General Motors has a market cap of $47.45 billion. Its shares are currently trading at around $34.28 with a P/E ratio of 9.90, a P/S ratio of 0.40 and a P/B ratio of 1.70.

Marvell Technology Group (MRVL)

Einhorn’s third largest position is in Marvell Technology Group where he maintains 9.7% of his total portfolio. As of the close of the second quarter, Einhorn held 44,289,000 shares of Marvell, representing 8.83% of the company’s shares outstanding.

During the second quarter Einhorn reduced his position by 14.5%. The guru sold 7,513,443 shares at an estimated average quarterly price of $10.84 per share. Since then the price per share has increased approximately 20.1%

Einhorn’s holding history as of the second quarter:

1376673625752.png

Marvell Technology is a global semiconductor provider of high-performance analog, mixed-signal, digital signal processing and embedded microprocessor integrated circuits.

Marvell’s historical revenue and net income:

1376680307003.png

The Peter Lynch Chart suggests that Marvell is currently overvalued:

1376680476339.png

Marvell has a market cap of $6.4 billion. Its shares are currently trading at around $13.02 with a P/E ratio of 26.60, a P/S ratio of 2.30 and a P/B ratio of 1.50. The company had an annual average earnings growth of 14% over the past ten years.

GuruFocus rated Marvell Technology the business predictability rank of 2-star.

Aetna (AET)

Einhorn currently holds 6,728,940 shares of Aetna, representing 2.05% of the company’s shares outstanding and 8% of his total portfolio.

During the second quarter, Einhorn made a slight increase in his holdings in Aetna. The guru upped his stake 3.39% by adding 220,725 shares. Einhorn bought these shares at an estimated average quarterly price of $58.75. The price per share has since then increased approximately 5.6%.

Einhorn’s holding history as of the second quarter:

1376673840080.png

The company is one of the nation's health care benefits companies. It offers a range of traditional and consumer-directed health insurance products and related services, including medical, pharmacy, dental, behavioral health, group life and disability plans, medical management capabilities, Medicaid health care management services and health information exchange technology services.

Aetna’s historical revenue and net income:

1376680878364.png

The Peter Lynch Chart suggests that Aetna is currently undervalued:

1376681040312.png

Aetna has a market cap of $23.07 billion. Its shares are currently trading at around $62.08 with a P/E ratio of 12.30, a P/S ratio of 0.50 and a P/B ratio of 1.50. The company had an annual average earnings growth of 13.7% over the past ten years.

GuruFocus rated Aetna the business predictability rank of 4.5-star.

Cigna (CI)

David Einhorn’s fifth largest position is in Cigna Corp where he holds 4,974,174 shares, representing 1.74% of the company’s shares outstanding and 6.8% of his total portfolio.

During the second quarter, Einhorn cut his position by 39.24%. The guru sold a total of 3,211,826 shares at an estimated average quarterly price of $67.40. Since then the price per share has increased approximately 13.8%.

Einhorn’s holding history as of the second quarter:

1376674368159.png

Cigna is a global health services organization with insurance subsidiaries that are providers of medical, dental, disability, life and accident insurance and related products and services.

Cigna’s historical revenue and earnings growth:

1376681623399.png

The Peter Lynch Chart shows that the company currently appears to be overvalued:

1376681707347.png

Cigna has a market cap of $21.89 billion. Its shares were traded at around $77.39 with a P/E ratio of 15.30, a P/S ratio of 0.70 and a P/B ratio of 2.20. The company had an annual average earnings growth of 10.4% over the past ten years.

Check out David Einhorn’s second quarter portfolio here.

Try a free 7-day premium membership trial.


Rating: 3.5/5 (2 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK