David Einhorn: Greenlight Capital Just Traded These Stocks

David Einhorn’s Greenlight Capital released a letter to its investors, detailing its views on the European debt crisis, as well as some of its core holdings.  Following is a brief summary of the stock positions his various funds hold, per the letter.

  • Seagate Technology (NASDAQ:STX): Greenlight has been buying this stock.  The shares are trading at $16.91, and have traded in a 52-week range of $9.84 to $18.35.  Its market capitalization is $7.27 billion.  About the company: Seagate Technology PLC designs, manufactures, and markets rigid disc drives for enterprise, personal computer, and consumer electronics applications. Competitors to Watch: STEC, Inc. (NASDAQ:STEC), OCZ Technology Group Inc. (NASDAQ:OCZ), Western Digital Corp. (NYSE:WDC), Micron Technology, Inc. (NASDAQ:MU), EMC Corporation (NYSE:EMC), SanDisk Corp (NASDAQ:SNDK), Imation Corp. (NYSE:IMN), Hutchinson Technology Inc. (NASDAQ:HTCH), Quantum Corporation (NYSE:QTM).
  • Cardinal Health (NYSE:CAH): Greenlight liquidated its position in this stock.  The shares are trading at $46.58, and have traded in a 52-week range of $29.69 to $47.06.  Its market capitalization is $16.33 billion.  About the company:  Cardinal Health, Inc. provides complementary products and services to healthcare providers and manufacturers. The Company’s services include pharmaceutical distribution, health-care product manufacturing, distribution and consulting services, drug delivery systems development, pharmaceutical packaging, automated dispensing systems manufacturing, and retail pharmacy franchising. Competitors to Watch: AmerisourceBergen Corp. (NYSE:ABC), McKesson Corporation (NYSE:MCK), Integra LifeSciences Hldgs. Corp. (NASDAQ:IART), Thermo Fisher Scientific Inc. (NYSE:TMO), Teleflex Incorporated (NYSE:TFX), Covidien plc (NYSE:COV), General Electric Company (NYSE:GE), CVS Caremark Corporation (NYSE:CVS), Walgreen Company (NYSE:WAG), and Owens & Minor, Inc. (NYSE:OMI).
  • CareFusion Corporation (NYSE:CFN): Greenlight bought shares of this company.  The shares are trading at $27.86 and have traded in a 52-week range of $20.63 to $29.97.  Its market capitalization is $6.23 billion.  About the company:  CareFusion Corporation provides health care products and services. The Company offers products that focus on breaking the cycle of harmful medication errors and reducing hospital acquired infections. CareFusion’s products include IV pumps, automated dispensing and patient identification systems, electronic infection surveillance service, and ventilation and respiratory products. Competitors to Watch: Teleflex Incorporated (NYSE:TFX), Covidien plc (NYSE:COV), Thermo Fisher Scientific Inc. (NYSE:TMO), Cardinal Health, Inc. (NYSE:CAH), Masimo Corporation (NASDAQ:MASI), Angeion Corporation (NASDAQ:ANGN), NeuroMetrix, Inc. (NASDAQ:NURO), Baxter International Inc. (NYSE:BAX), C.R. Bard, Inc. (NYSE:BCR), and Stryker Corporation (NYSE:SYK)
  • CIT Group, Inc. (NYSE:CIT): Greenlight bought shares of this company.  The shares are trading at $41.34, and have traded in a 52-week range of $34.85 to $49.57.  Its market capitalization is $8.29 billion. About the company: CIT Group Inc. operates as a holding company. The Company, through its subsidiaries, provides lending, advisory, commercial banking, vendor finance, and leasing services to small and middle market businesses. CIT Group operates globally.
  • Yahoo! (NASDAQ:YHOO): Greenlight sold its stake in this company.  The shares are trading at $15.02 and have traded in a 52-week range of $12.94 to $18.84.  Its market capitalization is $19.57 billion.  About the company: Yahoo! Inc. is a global Internet media company that offers an online guide to Web navigation, aggregated information content, communication services, and commerce. The Company’s site includes a hierarchical, subject-based directory of Web sites, which enables users to locate and access information and services through hypertext links included in the directory. Competitors to Watch: AOL, Inc. (NYSE:AOL), Microsoft (NASDAQ:MSFT), InterActive Corp (NASDAQ:IACI), Sohu.com (NASDAQ:SOHU), Demand Media (NYSE:DMD), Sina Corp (NASDAQ:SINA), Infospace (NASDAQ:INSP), News Corp (NASDAQ:NWSA) and Google Inc. (NASDAQ:GOOG).
  • Xerox (NYSE:XRX): Greenlight exited its position in this company.  The shares are trading at $10.26 and have traded in a 52-week range of $8.08 to $12.08.  Its market capitalization is $14.38 billion.  About the company:  Xerox Corporation develops, manufactures, markets, services, and finances a range of document processing products and services for use in offices around the world. The Company also, through subsidiaries, provides network management, consulting, design, and integration services for medium and large companies. Competitors to Watch: Canon Inc. (NYSE:CAJ), Pitney Bowes (NYSE:PBI), Staples (NASDAQ:SPLS), Office Depot (NYSE:ODP), OfficeMax (NYSE:OMX), Dell (NASDAQ:DELL), IBM (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ).
  • Cree, Inc. (NASDAQ:CREE): Greenlight shorted this stock, and made a profit from doing so.  The shares are trading at $31.67 and have traded in a 52-week range of $30.34 to $76.14.  Its market capitalization is $3.45 billion.  About the company:  Cree, Inc. develops and manufactures semiconductor materials and electronic devices made from silicon carbide (SiC). The Company uses proprietary technology to make enabling compound semiconductors such as blue and green light emitting diodes, SiC crystals used in the production of unique gemstones, and SiC wafers that are sold for device production and research.
  • MDC Holdings, Inc. (NYSE:MDC): Greenlight sold its remaining holdings of this company, however, it also noted that this stock delivered some of the largest returns for Greenlight since its inception in 1999.  The shares are trading at $25.25 and have traded in a 52-week range of $24.09 to $32.40.  About the company: M.D.C. Holdings, Inc., through its subsidiaries, builds and sells homes under the name Richmond American Homes. The Company also originates mortgage loans primarily for its home buyers. M.D.C. builds its single-family homes in Colorado, Virginia, Maryland, Northern and Southern California, Arizona, and Nevada. Competitors to Watch: D.R. Horton, Inc. (NYSE:DHI), PulteGroup, Inc. (NYSE:PHM), Toll Brothers, Inc. (NYSE:TOL), KB Home (NYSE:KBH), The Ryland Group, Inc. (NYSE:RYL), Standard Pacific Corp. (NYSE:SPF), Hovnanian Enterprises, Inc. (NYSE:HOV), NVR, Inc. (NYSE:NVR), Beazer Homes USA, Inc. (NYSE:BZH), and M/I Homes, Inc. (NYSE:MHO).
  • Apple (NASDAQ:AAPL): This continues to be one of Greenlight’s largest holdings.  The shares are trading at $358.72 and have traded in a 52-week range of $235.56 to $364.90.  Its market capitalization is $331.56 billion.  About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Competitors to Watch: Google Inc. (NASDAQ:GOOG), Hewlett-Packard Company (NYSE:HPQ), Dell (NASDAQ:DELL), Microsoft (NASDAQ:MSFT), Adobe (NASDAQ:ADBE), IBM (NYSE:IBM), Intel (NASDAQ:INTC), Super Micro (NASDAQ:SMCI), Verizon (NYSE:VZ) and Research In Motion Limited (NASDAQ:RIMM).
  • Microsoft (NASDAQ:MSFT): This is one of Greenglight’s largest holdings.  The shares are trading at $26.75 and have traded in a 52-week range of $23.32 to $29.46.  Its market capitalization is $225.66 billion.  Einhorn made news earlier this year, when speaking at the Ira Sohn Value Investor Conference, he suggested that the decade-long stagnation on Microsoft’s stock was sufficient evidence that its Chief Executive Officer Steve Ballmer should step down.  To date, Einhorn’s arguments have gone unheeded in Seattle.  About the company: Microsoft Corporation develops, manufactures, licenses, sells, and supports software products. The Company offers operating system software, server application software, business and consumer applications software, software development tools, and Internet and intranet software. Microsoft also develops video game consoles and digital music entertainment devices. Competitors to Watch: Google Inc. (NASDAQ:GOOG), Novell, Inc. (NASDAQ:NOVL), Oracle Corporation (NASDAQ:ORCL), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Yahoo! Inc. (NASDAQ:YHOO), Apple Inc. (NASDAQ:AAPL), Adobe Systems Incorporated (NASDAQ:ADBE), Intel Corporation (NASDAQ:INTC), and Sony Corporation (NYSE:SNE).
  • Pfizer (NYSE:PFE): This is another one of Greenlight’s largest holdings.  The shares are trading at $20.08 and have traded in a 52-week range of $14.39 to $21.45.  Its market capitalization is $158.55 billion.  About the company: Pfizer Inc. is a research-based, global pharmaceutical company that discovers, develops, manufactures, and markets medicines for humans and animals. The Company’s products include prescription pharmaceuticals, non-prescription self-medications, and animal health products such as anti-infective medicines and vaccines. Competitors to Watch: Johnson & Johnson (NYSE:JNJ), Merck & Co., Inc. (NYSE:MRK), GlaxoSmithKline plc (NYSE:GSK), Bristol Myers Squibb Co. (NYSE:BMY), Eli Lilly & Co. (NYSE:LLY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Mylan Inc. (NASDAQ:MYL), Amgen, Inc. (NASDAQ:AMGN), and Sanofi-Aventis SA (NYSE:SNY)
  • Vodafone Group plc (NASDAQ:VOD): This is another of Greenglight’s largest holdings.  The shares are trading at $26.06 and have traded in a 52-week range of $21.61 to $29.75.  Its market capitalization is $134.44 billion.  About the company: Vodafone Group Plc provides a range of mobile telecommunications services, including voice and data communications. Vodafone has equity interests in 28 countries and Partner Networks in a further 7 countries with almost all the Group’s mobile subsidiaries operating principally under the brand name Vodafone. In the United States their associated undertaking operates as Verizon Wireless. Competitors to Watch: AT&T, Inc. (NYSE:T), Qwest Communications International Inc. (NYSE:Q), MetroPCS (NYSE:PCS), Terremark (NASDAQ:TMRK), Qwest (NYSE:Q), CenturyLink (NYSE:CTL), NTELOS Holdings (NASDAQ:NTLS), Leap Wireless (NASDAQ:LEAP), Apple (NASDAQ:AAPL), Nokia (NYSE:NOK), Research in Motion (NASDAQ:RIMM) and Sprint Nextel Corp. (NYSE:S).

(Note: Certain financial data are sourced from Yahoo! Finance.  Other data are sourced from Greenlight Capital’s Letter to Investors dated July 7, 2011.  All data are assumed to be accurate.)

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