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Greenlight Capital And Third Point September 30 Holdings Summary

Tyler Durden's picture




 

With the star (and legend) of John Paulson long dead and buried, and his Disadvantage Minus fund an embarrassment, wrapped in a monkeyhammering, inside a humiliation, there are few "groupied" HF managers left. One of them is Dan Loeb, who still manages to generate positive Alpha regardless of how Beta does, another one used to be William Ackman (not so much anymore, especially not with the whole JCP fiasco), some others are David Tepper, Seth Klarman, and a few others, but nobody has quite the persistent clout and following of young master, and poker maestro, David Einhorn, and his fund Greenlight. Below we breakdown his latest just released 13F, which as a reminder shows, his holdings as of September 30. Key changes: Einhorn cut his holdings in Best Buy, Carefusion, Compuware, Expedia, Hess and UnitedHealth, and started new, small, positions in Yahoo, Babcock and Wilcox, Aecon and Knight Capital. More importantly, he cut his top position, Apple, by nearly 30% from 1.45 million to 1.09 million shares, cut modestly his second biggest position Seagate, added materially to GM, making it his third position, added to Cigna at #4 and added modestly to the GDX Gold Miners ETF. Sad to say, unless he has changed his portfolio dramatically since September 30, Einhorn is likely not doing too hot, especially in the last week or two.

Source: SEC

And as a bonus here is Dan Loeb's Q3 equity holdings. Obviously this does not include bond positions such as his (not quite so) recent foray into Portugal, and (his far more recent) purchase of Greek bonds on hopes of either a distressed buy back (not happening) or an OSI cramdown (Germany just said 9-9-9).


 

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Wed, 11/14/2012 - 18:36 | 2981882 Bicycles and Beer
Bicycles and Beer's picture

0st.

Wed, 11/14/2012 - 19:52 | 2982059 spankthebernank
spankthebernank's picture

His portfolio is full of cocks (x).  How these hedgies operate, value etc..in this economyless black hole is beyond one's imagination.

Wed, 11/14/2012 - 18:40 | 2981892 fonzannoon
fonzannoon's picture

Knight capital group? Thats what 2 and 20 gets you these days?

Wed, 11/14/2012 - 18:42 | 2981898 Matt
Matt's picture

To be fair, that has to be one of the most contrarian plays out there, to balance out the conformist position in AAPL.

Wed, 11/14/2012 - 18:46 | 2981905 Squid Vicious
Squid Vicious's picture

Wow, CBS and a bagel chain, doesn't get any more kosher than that....

Wed, 11/14/2012 - 18:47 | 2981906 Dr. Engali
Dr. Engali's picture

Knight capital? Must be hoping somebody buys them out.

Wed, 11/14/2012 - 19:18 | 2981966 J 457
J 457's picture

A new position of 17mm shares of KCG with a value of $15.36mm.  That would imply less than $1.00 per share.  How is that possible? 

Wed, 11/14/2012 - 18:56 | 2981912 JustObserving
JustObserving's picture

OT: Hamas claims to be shelling Tel Aviv, first missile to ever reach the city.

This conflict is getting out of control rapidly.

http://rt.com/news/hamas-shelling-tel-aviv-729/

 

Wed, 11/14/2012 - 18:52 | 2981917 Milton Waddams
Milton Waddams's picture

Why aren't these guys required to report short positions?  They aren't even required to net shorts and longs - i.e. if they are long 1000 shares of AAPL and short 1000 shares of AAPL, the 13F will reflect a 1000 share long position in AAPL.

Wed, 11/14/2012 - 19:01 | 2981926 Cdad
Cdad's picture

On the matter of his "DGX Market Vectors" position, which I presume is GDX, today was a damn good day to take a shot...or some of your favorite gold mining company.  I saw lots of capituation-like action in that group today, and I started to buy those back at the close today...however slowly...considering the S&P breakdown today.

Next tranche on bullion weakness...

Wed, 11/14/2012 - 19:05 | 2981935 fonzannoon
fonzannoon's picture

I did not want to take a beating on the previous post but I added to a few miners today. There are a few with very healthy charts.

Wed, 11/14/2012 - 19:07 | 2981940 Cdad
Cdad's picture

Right now...I like the truly UNHEALTHY charts in this group.  I took a synthetic miner position today...where the sellers were simply out of their minds with fear.  That is the only way I play from the long side...blood in the street scenarios.  Not an easy trade...not as easy as shorting this equity crap for the last couple months, to be sure.

Wed, 11/14/2012 - 19:37 | 2982023 Yen Cross
Yen Cross's picture

I'm putting together a "Singapore iron ore chart for you CDAD" ... God knows you have helped me make some $!

Wed, 11/14/2012 - 19:52 | 2982058 Cdad
Cdad's picture

Steel and Iron ore group...not enough blood in those streets yet, Yen.  Share prices have still not caught down to deteriorating fundamentals, weak pricing, and slack demand.  

Not sure how I have helped you make money...but happy to hear it anyway...if that is the case.

Wed, 11/14/2012 - 20:27 | 2982194 Yen Cross
Yen Cross's picture

puts & calls my Friend! ;-)

Wed, 11/14/2012 - 19:03 | 2981931 GrinandBearit
GrinandBearit's picture

Did Einhorn ever cover his Green Mountain short?  If so, at what price?

Wed, 11/14/2012 - 19:06 | 2981939 Rathmullan
Rathmullan's picture

lemmings and muppets. Serves em right

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