Wednesday, February 4, 2009

Einhorn's Portfolio and Latest Letter

Just for those that missed the post, or haven't read the letter, SeekingAlpha lists Einhorn's positions. For the full article, go to the site; for the good stuff, read on:

...Greenlight Capital's top five long equity positions were Allegheny Energy (AYE), Arkema (ARKAY.PK), Criteria Caixa, Österreichische Post, and URS Corp.(URS), and that it had an average exposure of 76% long and 37% short.

During the last quarter, it sold out of its long position in Ameriprise Financial. Additionally, it covered the following short positions: American Reprographics (ARP), Aurelian Resources (AUREF.PK)(Canadian), Equinix (EQIX), Great Atlantic & Pacific Tea (GAJ), Itron (ITRI), Macquarie Airports (MQRSF.PK)(Australian), and McGraw-Hill (MHP).

It also added some new long positions in the last quarter. These additions include Allegheny Energy (AYE), Commscope (CTV), MEMC Electronic Materials (WFR), gold and an index of gold miners (GDX), and the Japanese Yen.

Additionally, Greenlight also mentions that it was buying bank debt, high yield bonds, convertible bonds, gold, select foreign currencies, and equities. It’s also interesting to note that Greenlight was short Volkswagen and got caught up in the massive short squeeze...

As for Einhorn's latest letter, which I strongly recomend reading, click here. (An older letter, is online at the Dealbreaker site.)

No comments:

Post a Comment