What Is David Einhorn's Largest Long Position?
Today at the Ira Sohn Conference, David Einhorn suggested that one company may be worth $1 trillion someday. It may come as no surprise that this company happens to be Greenlight Capital's largest holding.
Greenlight released their latest 13F holdings yesterday. The fund is a long-short value-oriented hedge fund. Einhorn founded Greenlight Capital in 1996 with $900,000 and has managed to expand it into a $5 billion dollar fund.
So what company is it? Einhorn's largest position is in Apple, (AAPL) and it makes up nearly 16% of the portfolio, valued at $878 million. Einhorn has been building his position in Apple since the second quarter of 2010. You can see below that the results have been fruitful.
In addition to Apple, Seagate Technology (STX), General Motors (GM), Market Vectors Gold Miners ETF (GDX), and Marvell Technology Group (MRVL) make up the top 5 holdings. Seagate and Apple were the top performers YTD with the Gold Miner ETF lagging the market by a wide margin.
Several positions were completely closed out during the first quarter including Yahoo!. Einhorn sold over 3 million shares of Yahoo! (YHOO). The other closed positions are noted in the YTD chart below.