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Greenlight Capital Gives OAK Red Light, Trims Others in Third Quarter

December 05, 2013 | About:

Sally Jones

49 followers
The updated portfolio of David Einhorn of Greenlight Capital includes 30 stocks, three of them new, a total value at $5.63 billion, with a quarter-over-quarter turnover of 3%. The portfolio is weighted with top three sectors: technology at 40.4%, consumer cyclical at 18.5% and health care at 12.6%. The stocks bought by David Einhorn are averaging a 12-month return of 33.35%.

Guru Einhorn sold out his holding in Oaktree Capital Group LLC, which recently reported the formation of a new equally-owned joint venture with China Cinda Asset Management Co. Ltd. The companies will jointly invest in distressed assets in China and work together in similar markets outside China.

Oaktree’s managing principal, John Frank, commented in a company press release: “We are excited to partner with Cinda, the market leader in distressed investing in China. Cinda's experience and expertise in China is unparalleled and will afford us a unique opportunity to participate in China’s distressed debt markets. At the same time, we look forward to sharing our global insights and expertise with Cinda.”

OAK is among the high-impact sells made by Einhorn in the third quarter of 2013.

Oaktree Capital Group LLC (OAK): Sold Out

Impacts Portfolio: -1.5%

Up 27% over 12 months, Oaktree Capital Group LLC, an investment management company focused on alternative markets, has a market cap of $8.33 billion; its shares were traded at around $55.05 with a P/E ratio of 9.10. The dividend yield is 8.60%.

Guru Action: As of Sept. 30, 2013, David Einhorn sold out his OAK, unloading 1,476,744 shares at an average price of $53.20, for a gain of 4.2%.

Over three gaining quarters, Einhorn’s highest gain was the second quarter of 2012 when he made a new buy of 1,851,812 shares at an average price of $38.40 per share, gaining 44.3%.

Check out the six remaining guru stakeholders.

No insider activity was found.

Track historical share pricing, revenue and net income:

1386269429892.png

Aetna Inc. (AET): Reduced

Impacts Portfolio: -1.4%

Current Shares: 5,550,040

Up 52% over 12 months, Aetna Inc. has a market cap of $24.21 billion; its shares were traded at around $65.87 with a P/E ratio of 13.10. The dividend yield is 1.20%.

The GuruFocus analysis for AET shows that the company’s operating margin is expanding, usually a good sign, along with four warnings.

Guru Action: As of Sept. 30, 2013, David Einhorn reduced his position by 17.52%, selling 1,178,900 shares at an average price of $64.13, for a gain of 2.7%.

Over five gaining quarters, Einhorn has averaged a 53% gain on 6,728,940 shares bought at an average price of $43.08. He gained an average of 3% on 1,178,900 shares sold at an average price of $64.13 per share.

Check out guru stakeholders.

Here are the recent trades by insiders at AET.

Track historical share pricing, revenue and net income:

1386270594612.png

NCR Corporation (NCR): Reduced

Impacts Portfolio: -1.2%

Current Shares: 7,300,591

Up 29% over 12 months, NCR Corporation has a market cap of $5.33 billion; its shares were traded at around $32.03 with a P/E ratio of 24.10. The company does not pay a dividend.

Here’s the GuruFocus analysis with four warnings about NCR.

Guru Action: As of Sept. 30, 2013, David Einhorn reduced his position by 20.97%, selling 1,936,800 shares at an average price of $36.45, taking a loss of 12.1%.

Overall, Einhorn has averaged a gain of 114% on 13,910,758 shares bought at an average price of $14.96 per share. He gained 26% on 6,610,167 shares sold at an average price of $25.46 per share.

Check out more guru action in the third quarter.

The NCR insiders are selling.

Track historical share pricing, revenue and net income:

1386270450241.png

Here is the complete portfolio of Guru David Einhorn.



Use the GuruFocus Value Screen to find 52-Week Lows and discover potentially deep value stocks held by billionaire Guru investors.

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 1.0/5 (1 vote)

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