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Einhorn's Greenlight Buys NVR, Intrexon, Sells Oaktree, Rite Aid


David Einhorn's Greenlight Capital, a long-short hedge fund that focuses on finding good value, sold its position on Oaktree Capital Group LLC"" />, opened a position on real estate companyaNVR, Inc. and took some profits out of rising Rite Aid Corporation stocks. The fund was founded in 1996 with $900,000 in assets under management and now has a total portfolio value of $5.4 billion and holds positions on 29 separate stocks as of its most recent SEC filing. Einhorn is probably most famous for shorting Lehman Brothers in 2007, making a huge profit once its actual financial situation became known. Greenlight Capital���s new positions Einhorn has discussedaNVR, Inc."" /> in past newsletters, so it's no surprise that he bought 22,500 shares worth about $20.6 million. He also opened positions on Intrexon Corp"" />, buying 2 million shares worth about $48 million, and 1.1 million shares ofaTempur Sealy International Inc"" />, worth $50 million. Additionally, Greenlight increased its position inaWPX Energy Inc"" /> by 77% to 2 million shares andaSpirit AeroSystems Holdings, Inc. by 41% to 782,000 shares. Greenlight Capital���s closed positions Greenlight closed positions on Oaktree Capital Group LLC"" /> 1.4 million shares,aState Bank Financial Corp"" /> 1.8 million shares, andaCapital Bank Financial Corp"" /> 940,000 shares. It also sold 20% of its shares in Rite Aid Corporation"" />, bringing its position down to 4 million shares, but the total value of its position actually increased by about $18 million, so the sale can be seen as a combination of profit-taking. It also reduced shares ofaAspen Insurance Holdings Limited"" /> by 34% to 1.5 million shares,aLegg Mason Inc by 30% to 710,000 shares,aNCR Corporation"" /> by 21% to 1.9 million shares,aAetna Inc"" /> by 17.5% to 1.2 million shares, Einstein Noah Restaurant Group, Inc."" /> by 14% to 1.5 million shares, Computer Sciences Corporation"" /> by 13.4% to 550,000 shares, andaCIGNA Corporation by 6.63% to 330,000 shares. Greenlight Capital's biggest positions Greenlight's biggest positions are Apple Inc,"" />, which is 21.12% of the portfolio,aGeneral Motors Company"" /> which makes up 11.33%,aMarvell Technology Group Ltd."" /> at 9.41%,aCIGNA Corporation"" /> with 6.6%, and Aetna Inc"" /> with 6.56%. With such a heavy investment in Apple Inc, , 32% of Greenlight's funds are investing in the tech sector, followed by 14% in health care, and 13.5% in consumer discretionary. -By Michael Ide