Hedge Fund manager David Einhorn has a enviable performance, when he started hedge fund Greenlight Capital with $1 million and through 2008, he produced an annualized net eturn of 22% for his investors. He expressed no-excitement in the availabilities in new opportunities in his latest shareholder letter. This is the Q1 portfolio update of Greenlight Capital.
David Einhorn buys Xerox Corp., Nvr Inc, Flagstar Bancorp Inc., Symetra Financial Corp., Coinstar Inc., Iconix Brand Group Inc., sells Barrick Gold Corp., Ticketmaster Entertainment, Inc., Sinclair Broadcast Group Inc., Pattersonuti Energy Inc., Nike Inc., Mcdermott International Inc., Huntsman Corp., Endurance Specialty Holdings Ltd., Boston Scientific Corp., Memc Electronic Materials Inc. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 36 stocks with a total value of $3.1 billion. These are the details of the buys and sells.
This is the sector weightings of his portfolio:
These are the top 5 holdings of David Einhorn
CIT Group Inc. is a bank holding company that provides financing and leasing capital for commercial companies throughout the world. Cit Group Inc. has a market cap of $15.52 billion; its shares were traded at around $38.35 with and P/S ratio of 3.9.
Foster Wheeler AG, formerly Foster Wheeler Limited, along with its subsidiaries provide construction and engineering services to the oil and gas, oil refining, chemical/petrochemical, pharmaceutical, environmental, and power plant operation and maintenance sectors worldwide. Foster Wheeler Ag. has a market cap of $3.4 billion; its shares were traded at around $26.66 with a P/E ratio of 9.1 and P/S ratio of 0.67.
Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $130.7 billion; its shares were traded at around $16.2 with a P/E ratio of 7.79 and P/S ratio of 2.61. The dividend yield of Pfizer Inc stocks is 4.44%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
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 $38.06 billion; its shares were traded at around $18.57 with a P/E ratio of 24.76 and P/S ratio of 2.71.
Ralcorp Holdings, Inc. is primarily engaged in the manufacturing, distribution and marketing of private label and branded ready-to-eat cereal products and snacks, branded and private label crackers and cookies, and branded baby food and juices. Ralcorp Holdings Inc. has a market cap of $3.33 billion; its shares were traded at around $60.75 with a P/E ratio of 12.76 and P/S ratio of 0.85. Ralcorp Holdings Inc. had an annual average earning growth of 15.6% over the past 10 years. GuruFocus rated Ralcorp Holdings Inc. the business predictability rank of 3.5-star.
Energy Partners, Ltd. is an independent oil and natural gas exploration and production company based in New Orleans, LA and Houston. Energy Partners Ltd. has a market cap of $523.74 million; its shares were traded at around $13.08 with and P/S ratio of 2.73.
Xerox Corporation is The Document Company and a leader in the global document market, providing document solutions that enhance business productivity. Xerox Corp. has a market cap of $13.82 billion; its shares were traded at around $10.02 with a P/E ratio of 13.73 and P/S ratio of 0.91. The dividend yield of Xerox Corp. stocks is 1.7%. Xerox Corp. had an annual average earning growth of 0.5% over the past 10 years.
NVR Inc. is a holding company that operates in two business segments; the construction and marketing of homes and in financial services. Nvr Inc has a market cap of $4.18 billion; its shares were traded at around $682.43 with a P/E ratio of 20.68 and P/S ratio of 1.56. Nvr Inc had an annual average earning growth of 2.8% over the past 10 years.
Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB, a federally chartered stock savings bank. Flagstar Bancorp Inc. has a market cap of $823.09 million; its shares were traded at around $0.59 with and P/S ratio of 0.68.
Symetra Financial Corporation is a diversified financial services company based in Bellevue, Wash. Symetra Financial Corp. has a market cap of $1.51 billion; its shares were traded at around $12.79 with a P/E ratio of 8.94 and P/S ratio of 0.88.
Coinstar, Inc. operate a national network of self-service coin-counting machines in the U. Coinstar Inc. has a market cap of $1.72 billion; its shares were traded at around $55.36 with a P/E ratio of 51.74 and P/S ratio of 1.5. Coinstar Inc. had an annual average earning growth of 24.4% over the past 10 years. GuruFocus rated Coinstar Inc. the business predictability rank of 4-star.
Iconix Brand Group, Inc. is in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Iconix Brand Group Inc. has a market cap of $1.23 billion; its shares were traded at around $17.14 with a P/E ratio of 13.29 and P/S ratio of 5.28.
Health Management Associates, Inc. provides a broad range of general acute care health services in non-urban communities. Health Management Associates Inc. has a market cap of $2.31 billion; its shares were traded at around $9.25 with a P/E ratio of 17.13 and P/S ratio of 0.5. Health Management Associates Inc. had an annual average earning growth of 28.5% over the past 10 years. GuruFocus rated Health Management Associates Inc. the business predictability rank of 3.5-star.
URS Corporation offers a broad range of planning, design, and program and construction management services for transportation, hazardous waste, industrial processing and petrochemical, general building and water/wastewater projects. Urs Corp. has a market cap of $4.04 billion; its shares were traded at around $48.07 with a P/E ratio of 14.39 and P/S ratio of 0.44.
Huntsman Corporation is among the world's largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. Huntsman Corp. has a market cap of $2.35 billion; its shares were traded at around $9.87 with and P/S ratio of 0.3. The dividend yield of Huntsman Corp. stocks is 4.05%.
MEMC Electronic Materials, Inc. is a global producer of polysilicon and silicon wafers. Memc Electronic Materials Inc. has a market cap of $2.68 billion; its shares were traded at around $11.79 with and P/S ratio of 2.3.
Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. Sinclair Broadcast Group Inc. has a market cap of $570.24 million; its shares were traded at around $7.14 with a P/E ratio of 12.1 and P/S ratio of 0.87.
Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of minimally invasive medical devices. Boston Scientific Corp. has a market cap of $10.35 billion; its shares were traded at around $6.83 with a P/E ratio of 11.2 and P/S ratio of 1.26. Boston Scientific Corp. had an annual average earning growth of 5.4% over the past 10 years.
Patterson is one of the providers of domestic land drillingservices to major & independent oil & natural gas companies. Pattersonuti Energy Inc. has a market cap of $2.08 billion; its shares were traded at around $13.54 with and P/S ratio of 2.66. The dividend yield of Pattersonuti Energy Inc. stocks is 1.48%. Pattersonuti Energy Inc. had an annual average earning growth of 17.8% over the past 10 years.
Endurance Specialty Holdings Ltd., through its wholly owned operating subsidiaries, is a global provider of property and casualty insurance and reinsurance. Endurance Specialty Holdings Ltd. has a market cap of $1.93 billion; its shares were traded at around $35.45 with a P/E ratio of 4.18 and P/S ratio of 1.01. The dividend yield of Endurance Specialty Holdings Ltd. stocks is 2.82%.
Nike, Inc.'s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. Nike Inc. has a market cap of $35.82 billion; its shares were traded at around $73.74 with a P/E ratio of 19.3 and P/S ratio of 1.87. The dividend yield of Nike Inc. stocks is 1.46%. Nike Inc. had an annual average earning growth of 14.1% over the past 10 years. GuruFocus rated Nike Inc. the business predictability rank of 5-star.
McDermott International is one of the worldwide energy services companies. Mcdermott International Inc. has a market cap of $5.54 billion; its shares were traded at around $23.98 with a P/E ratio of 14.11 and P/S ratio of 0.89.
Barrick Gold Corporation is a international gold producer with low-cost mines in North and South America. Barrick Gold Corp. has a market cap of $44.91 billion; its shares were traded at around $45.62 with a P/E ratio of 19.25 and P/S ratio of 5.52. The dividend yield of Barrick Gold Corp. stocks is 0.88%. Barrick Gold Corp. had an annual average earning growth of 14.2% over the past 10 years.
David Einhorn buys Xerox Corp., Nvr Inc, Flagstar Bancorp Inc., Symetra Financial Corp., Coinstar Inc., Iconix Brand Group Inc., sells Barrick Gold Corp., Ticketmaster Entertainment, Inc., Sinclair Broadcast Group Inc., Pattersonuti Energy Inc., Nike Inc., Mcdermott International Inc., Huntsman Corp., Endurance Specialty Holdings Ltd., Boston Scientific Corp., Memc Electronic Materials Inc. during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Greenlight Capital Inc. David Einhorn owns 36 stocks with a total value of $3.1 billion. These are the details of the buys and sells.
- New Purchases: CSTR, FBC, ICON, NVR, SYA, XRX,
- Added Positions: CIT, EMC, EPL, FWLT, PFE, RAH,
- Reduced Positions: HMA, URS,
- Sold Out: ABX, BSX, ENH, HUN, MDR, NKE, PTEN, SBGI, WFR,
This is the sector weightings of his portfolio:
| Financials | 29.9% |
| Health Care | 16.5% |
| Consumer Services | 12.7% |
| Technology | 12.7% |
| Industrials | 8.5% |
| Consumer Goods | 4.4% |
| Oil & Gas | 1.2% |
| Basic Materials | 0.7% |
These are the top 5 holdings of David Einhorn
- CIT Group Inc. (CIT) - 10,590,429 shares, 13.42% of the total portfolio. Shares added by 67.55%
- Pfizer Inc (PFE) - 18,154,098 shares, 10.12% of the total portfolio. Shares added by 22.63%
- Cardinal Health Inc. (CAH) - 6,550,500 shares, 7.67% of the total portfolio.
- Carefusion Corp. (CFN) - 8,718,724 shares, 7.49% of the total portfolio.
- EMC Corp. (EMC) - 8,902,600 shares, 5.22% of the total portfolio. Shares added by 24.47%
Added: Cit Group Inc. (CIT, Financial)
David Einhorn added to his holdings in Cit Group Inc. by 67.55%. His purchase prices were between $27.61 and $39.23, with an estimated average price of $33.89. The impact to his portfolio due to this purchase was 5.41%. His holdings were 10,590,429 shares as of 03/31/2010.CIT Group Inc. is a bank holding company that provides financing and leasing capital for commercial companies throughout the world. Cit Group Inc. has a market cap of $15.52 billion; its shares were traded at around $38.35 with and P/S ratio of 3.9.
Added: Foster Wheeler Ag. (FWLT, Financial)
David Einhorn added to his holdings in Foster Wheeler Ag. by 401.01%. His purchase prices were between $24.45 and $34.82, with an estimated average price of $28.62. The impact to his portfolio due to this purchase was 2.57%. His holdings were 3,631,472 shares as of 03/31/2010.Foster Wheeler AG, formerly Foster Wheeler Limited, along with its subsidiaries provide construction and engineering services to the oil and gas, oil refining, chemical/petrochemical, pharmaceutical, environmental, and power plant operation and maintenance sectors worldwide. Foster Wheeler Ag. has a market cap of $3.4 billion; its shares were traded at around $26.66 with a P/E ratio of 9.1 and P/S ratio of 0.67.
Added: Pfizer Inc (PFE, Financial)
David Einhorn added to his holdings in Pfizer Inc by 22.63%. His purchase prices were between $16.91 and $20, with an estimated average price of $18.07. The impact to his portfolio due to this purchase was 1.87%. His holdings were 18,154,098 shares as of 03/31/2010.Pfizer Inc is a research-based, global pharmaceutical company that discovers and develops innovative, value-added products that improve the quality of life of people around the world and help them enjoy longer, healthier, and more productive lives. Pfizer Inc has a market cap of $130.7 billion; its shares were traded at around $16.2 with a P/E ratio of 7.79 and P/S ratio of 2.61. The dividend yield of Pfizer Inc stocks is 4.44%. Pfizer Inc had an annual average earning growth of 1.8% over the past 10 years.
Added: Emc Corp. (EMC, Financial)
David Einhorn added to his holdings in Emc Corp. by 24.47%. His purchase prices were between $16.63 and $18.94, with an estimated average price of $17.76. The impact to his portfolio due to this purchase was 1.03%. His holdings were 8,902,600 shares as of 03/31/2010.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 $38.06 billion; its shares were traded at around $18.57 with a P/E ratio of 24.76 and P/S ratio of 2.71.
Added: Ralcorp Holdings Inc. (RAH, Financial)
David Einhorn added to his holdings in Ralcorp Holdings Inc. by 50.04%. His purchase prices were between $59.49 and $69.29, with an estimated average price of $64.79. The impact to his portfolio due to this purchase was 0.99%. His holdings were 1,350,000 shares as of 03/31/2010.Ralcorp Holdings, Inc. is primarily engaged in the manufacturing, distribution and marketing of private label and branded ready-to-eat cereal products and snacks, branded and private label crackers and cookies, and branded baby food and juices. Ralcorp Holdings Inc. has a market cap of $3.33 billion; its shares were traded at around $60.75 with a P/E ratio of 12.76 and P/S ratio of 0.85. Ralcorp Holdings Inc. had an annual average earning growth of 15.6% over the past 10 years. GuruFocus rated Ralcorp Holdings Inc. the business predictability rank of 3.5-star.
Added: Energy Partners Ltd. (EPL, Financial)
David Einhorn added to his holdings in Energy Partners Ltd. by 2226.71%. His purchase prices were between $8.41 and $12.11, with an estimated average price of $9.98. The impact to his portfolio due to this purchase was 0.37%. His holdings were 990,574 shares as of 03/31/2010.Energy Partners, Ltd. is an independent oil and natural gas exploration and production company based in New Orleans, LA and Houston. Energy Partners Ltd. has a market cap of $523.74 million; its shares were traded at around $13.08 with and P/S ratio of 2.73.
New Purchase: Xerox Corp. (XRX, Financial)
David Einhorn initiated holdings in Xerox Corp.. His purchase prices were between $8.38 and $10.11, with an estimated average price of $9.19. The impact to his portfolio due to this purchase was 2.22%. His holdings were 7,000,000 shares as of 03/31/2010.Xerox Corporation is The Document Company and a leader in the global document market, providing document solutions that enhance business productivity. Xerox Corp. has a market cap of $13.82 billion; its shares were traded at around $10.02 with a P/E ratio of 13.73 and P/S ratio of 0.91. The dividend yield of Xerox Corp. stocks is 1.7%. Xerox Corp. had an annual average earning growth of 0.5% over the past 10 years.
New Purchase: Nvr Inc (NVR, Financial)
David Einhorn initiated holdings in Nvr Inc. His purchase prices were between $661.56 and $753, with an estimated average price of $714.89. The impact to his portfolio due to this purchase was 1.32%. His holdings were 55,719 shares as of 03/31/2010.NVR Inc. is a holding company that operates in two business segments; the construction and marketing of homes and in financial services. Nvr Inc has a market cap of $4.18 billion; its shares were traded at around $682.43 with a P/E ratio of 20.68 and P/S ratio of 1.56. Nvr Inc had an annual average earning growth of 2.8% over the past 10 years.
New Purchase: Flagstar Bancorp Inc. (FBC, Financial)
David Einhorn initiated holdings in Flagstar Bancorp Inc.. His purchase prices were between $0.57 and $0.98, with an estimated average price of $0.68. The impact to his portfolio due to this purchase was 0.64%. His holdings were 33,000,000 shares as of 03/31/2010.Flagstar Bancorp, Inc. is the holding company for Flagstar Bank, FSB, a federally chartered stock savings bank. Flagstar Bancorp Inc. has a market cap of $823.09 million; its shares were traded at around $0.59 with and P/S ratio of 0.68.
New Purchase: Symetra Financial Corp. (SYA, Financial)
David Einhorn initiated holdings in Symetra Financial Corp.. His purchase prices were between $12.65 and $13.27, with an estimated average price of $12.89. The impact to his portfolio due to this purchase was 0.43%. His holdings were 1,000,000 shares as of 03/31/2010.Symetra Financial Corporation is a diversified financial services company based in Bellevue, Wash. Symetra Financial Corp. has a market cap of $1.51 billion; its shares were traded at around $12.79 with a P/E ratio of 8.94 and P/S ratio of 0.88.
New Purchase: Coinstar Inc. (CSTR, Financial)
David Einhorn initiated holdings in Coinstar Inc.. His purchase prices were between $25.83 and $33.42, with an estimated average price of $29.06. The impact to his portfolio due to this purchase was 0.12%. His holdings were 112,798 shares as of 03/31/2010.Coinstar, Inc. operate a national network of self-service coin-counting machines in the U. Coinstar Inc. has a market cap of $1.72 billion; its shares were traded at around $55.36 with a P/E ratio of 51.74 and P/S ratio of 1.5. Coinstar Inc. had an annual average earning growth of 24.4% over the past 10 years. GuruFocus rated Coinstar Inc. the business predictability rank of 4-star.
New Purchase: Iconix Brand Group Inc. (ICON, Financial)
David Einhorn initiated holdings in Iconix Brand Group Inc.. His purchase prices were between $12.28 and $15.99, with an estimated average price of $13.74. The impact to his portfolio due to this purchase was 0.05%. His holdings were 108,249 shares as of 03/31/2010.Iconix Brand Group, Inc. is in the business of licensing the CANDIE'S, BONGO, BADGLEY MISCHKA and JOE BOXER trademarks on a variety of footwear, apparel and fashion products. Iconix Brand Group Inc. has a market cap of $1.23 billion; its shares were traded at around $17.14 with a P/E ratio of 13.29 and P/S ratio of 5.28.
Reduced: Health Management Associates Inc. (HMA)
David Einhorn reduced to his holdings in Health Management Associates Inc. by 28.53%. His sale prices were between $6.6 and $9.05, with an estimated average price of $7.54. The impact to his portfolio due to this sale was -0.52%. David Einhorn still held 6,539,241 shares as of 03/31/2010.Health Management Associates, Inc. provides a broad range of general acute care health services in non-urban communities. Health Management Associates Inc. has a market cap of $2.31 billion; its shares were traded at around $9.25 with a P/E ratio of 17.13 and P/S ratio of 0.5. Health Management Associates Inc. had an annual average earning growth of 28.5% over the past 10 years. GuruFocus rated Health Management Associates Inc. the business predictability rank of 3.5-star.
Reduced: Urs Corp. (URS)
David Einhorn reduced to his holdings in Urs Corp. by 50%. His sale prices were between $43.54 and $49.89, with an estimated average price of $47.08. The impact to his portfolio due to this sale was -1.46%. David Einhorn still held 1,804,084 shares as of 03/31/2010.URS Corporation offers a broad range of planning, design, and program and construction management services for transportation, hazardous waste, industrial processing and petrochemical, general building and water/wastewater projects. Urs Corp. has a market cap of $4.04 billion; its shares were traded at around $48.07 with a P/E ratio of 14.39 and P/S ratio of 0.44.
Sold Out: Huntsman Corp. (HUN)
David Einhorn sold out his holdings in Huntsman Corp.. His sale prices were between $11.29 and $14.01, with an estimated average price of $12.67.Huntsman Corporation is among the world's largest global manufacturers of differentiated and commodity chemical products for a variety of industrial and consumer applications. Huntsman Corp. has a market cap of $2.35 billion; its shares were traded at around $9.87 with and P/S ratio of 0.3. The dividend yield of Huntsman Corp. stocks is 4.05%.
Sold Out: Memc Electronic Materials Inc. (WFR)
David Einhorn sold out his holdings in Memc Electronic Materials Inc.. His sale prices were between $11.6 and $15.51, with an estimated average price of $13.5.MEMC Electronic Materials, Inc. is a global producer of polysilicon and silicon wafers. Memc Electronic Materials Inc. has a market cap of $2.68 billion; its shares were traded at around $11.79 with and P/S ratio of 2.3.
Sold Out: Sinclair Broadcast Group Inc. (SBGI)
David Einhorn sold out his holdings in Sinclair Broadcast Group Inc.. His sale prices were between $4.03 and $5.78, with an estimated average price of $5.17.Sinclair Broadcast Group is a diversified broadcasting company that owns or provides programming services pursuant to local marketing agreements to more television stations than any other commercial broadcasting group in the United States. Sinclair Broadcast Group Inc. has a market cap of $570.24 million; its shares were traded at around $7.14 with a P/E ratio of 12.1 and P/S ratio of 0.87.
Sold Out: Boston Scientific Corp. (BSX)
David Einhorn sold out his holdings in Boston Scientific Corp.. His sale prices were between $6.8 and $9.62, with an estimated average price of $8.14.Boston Scientific Corporation is a worldwide developer, manufacturer and marketer of minimally invasive medical devices. Boston Scientific Corp. has a market cap of $10.35 billion; its shares were traded at around $6.83 with a P/E ratio of 11.2 and P/S ratio of 1.26. Boston Scientific Corp. had an annual average earning growth of 5.4% over the past 10 years.
Sold Out: Pattersonuti Energy Inc. (PTEN)
David Einhorn sold out his holdings in Pattersonuti Energy Inc.. His sale prices were between $13.25 and $18.37, with an estimated average price of $15.87.Patterson is one of the providers of domestic land drillingservices to major & independent oil & natural gas companies. Pattersonuti Energy Inc. has a market cap of $2.08 billion; its shares were traded at around $13.54 with and P/S ratio of 2.66. The dividend yield of Pattersonuti Energy Inc. stocks is 1.48%. Pattersonuti Energy Inc. had an annual average earning growth of 17.8% over the past 10 years.
Sold Out: Endurance Specialty Holdings Ltd. (ENH)
David Einhorn sold out his holdings in Endurance Specialty Holdings Ltd.. His sale prices were between $34.86 and $39.12, with an estimated average price of $37.16.Endurance Specialty Holdings Ltd., through its wholly owned operating subsidiaries, is a global provider of property and casualty insurance and reinsurance. Endurance Specialty Holdings Ltd. has a market cap of $1.93 billion; its shares were traded at around $35.45 with a P/E ratio of 4.18 and P/S ratio of 1.01. The dividend yield of Endurance Specialty Holdings Ltd. stocks is 2.82%.
Sold Out: Nike Inc. (NKE)
David Einhorn sold out his holdings in Nike Inc.. His sale prices were between $61.3 and $74.66, with an estimated average price of $66.67.Nike, Inc.'s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. Nike Inc. has a market cap of $35.82 billion; its shares were traded at around $73.74 with a P/E ratio of 19.3 and P/S ratio of 1.87. The dividend yield of Nike Inc. stocks is 1.46%. Nike Inc. had an annual average earning growth of 14.1% over the past 10 years. GuruFocus rated Nike Inc. the business predictability rank of 5-star.
Sold Out: Mcdermott International Inc. (MDR)
David Einhorn sold out his holdings in Mcdermott International Inc.. His sale prices were between $22.01 and $26.71, with an estimated average price of $24.42.McDermott International is one of the worldwide energy services companies. Mcdermott International Inc. has a market cap of $5.54 billion; its shares were traded at around $23.98 with a P/E ratio of 14.11 and P/S ratio of 0.89.
Sold Out: Barrick Gold Corp. (ABX)
David Einhorn sold out his holdings in Barrick Gold Corp.. His sale prices were between $34 and $41.76, with an estimated average price of $38.29.Barrick Gold Corporation is a international gold producer with low-cost mines in North and South America. Barrick Gold Corp. has a market cap of $44.91 billion; its shares were traded at around $45.62 with a P/E ratio of 19.25 and P/S ratio of 5.52. The dividend yield of Barrick Gold Corp. stocks is 0.88%. Barrick Gold Corp. had an annual average earning growth of 14.2% over the past 10 years.
