Renowned hedge fund manager
David Einhorn
reported his first quarter portfolio. In the first quarter, he
sold a lot more stocks than he bought. He got into
Howard Marks
' company Oaktree Capital (
OAK
), which came to the market a few weeks ago through IPO. As of
March 31, 2012, Greenlight Capital owns 37 stocks with a total
value of $5.5 billion.
With Apple (
AAPL
) as his largest holding, Einhorn is heavy in the technology
sector, which is almost half of his holdings. He bought into more
tech companies such as Computer Science (
CSC
), Expedia Inc. (
EXPE
), DST Systems (
DST
).
This is an overview of his buys and sells:
- New Purchases:
CSC
,
EXPE
,
RNDY
,
OAK
,
- Added Positions:
DST
,
MRVL
,
- Reduced Positions:
MSFT
,
GM
,
ESV
,
CBS
,
HCA
,
NVR
,
RIMM
,
GDXJ
,
ABX
,
- Sold Out:
TRV
,
YHOO
,
EPL
,
BR
,
FURX
,
OVTI
,
His purchase prices of Computer Science were between $23.37 and
$33.26, with an estimated average price of $27.03. His holdings
were 2,400,000 shares as of 03/31/2012. Comp Science has a market
cap of $4.2 billion; its shares were traded at around $26.43 with
a P/E ratio of 6.9 and P/S ratio of 0.3. The dividend yield of
Comp Science stocks is 2.9%. Comp Science had an annual average
earnings growth of 7.6% over the past 10 years. GuruFocus rated
Comp Science
the business predictability rank of 4.5-star
.
Einhorn's new position with Expedia (
EXPE
) is 1 million shares as of the end of the first quarter. His
purchase prices were between $28.63 and $35.44, with an estimated
average price of $30.45. Expedia Inc has a market cap of $5.49
billion.
Einhorn also added to his position in DST System (
DST
). He now owns 1.5 million shares. The company has grown its
earnings 11% a year in the past 10 years very consistently.
GuruFocus rated DST Systems
the business predictability rank of 3.5-star
.
The largest sale of Einhorn in the first quarter was with
Microsoft Corp (
MSFT
). He sold about half of his position. His sale prices were
between $27.4 and $32.85, with an estimated average price of
$28.73. Microsoft stock had a good run this year. It was up more
than 20% by the end of the first quarter. The stock now has a
dividend yield of 2.6%.
The second largest sale of David Einhorn was General Motors (
GM
). He sold about 22% of his position at the average price of $23.
He still owns 14.8 million shares. It is interesting to point out
that GM is now a new position in Warren Buffett's Berkshire
Hathaway portfolio.
Here is the complete portfolio of David Einhorn. Also check out
the Undervalued Stocks, Top Growth Companies and High Yield
stocks of David Einhorn.About GuruFocus: GuruFocus.com tracks the
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.