Apple Inc. (AAPL), Micron Technology Inc (MU), Marvell Technology Group Ltd (MRVL): Greenlight Capital Outperforming Peers on the Back of These Stocks

David Einhorn‘s Greenlight Capital has been outperforming most other major hedge funds this year. Thru the end of June, the fund has returned 6.7%, compared to the 6% returned by the widely followed S&P 500 Index. So, let’s take a look at its most valuable holdings in order to elucidate if any of them stand as attractive investment options.

First off is Apple Inc. (NASDAQ:AAPL), the $578 billion market cap consumer electronics manufacturer that saw its stock price escalate almost 20% since the beginning of the year. Einhorn is amongst the company’s largest hedge fund shareholders, with 1.993 million shares, worth more than $1 billion. Although the fund trimmed its exposure to Apple Inc. (NASDAQ:AAPL) by 17% over the first quarter of 2014, this position is still the largest in its equity portfolio.

GREENLIGHT CAPITAL David Einhorn

Carl Icahn seems more bullish than Einhorn. His fund, Icahn Capital LP, last declared having upped its stake in to Apple Inc. (NASDAQ:AAPL) by 59%, to 7.54 million shares, worth more than $4 billion.

Micron Technology Inc (NASDAQ:MU), the second largest position in Einhorn’s equity portfolio, also saw its stakes decrease. After reducing its exposure by 8% over Q1, Greenlight Capital owns 44 million shares of the $35.2 billion market cap semiconductor manufacturer. This stake, worth more than $1 billion, accounts for more than 15% of the fund’s total equity portfolio’s value, and makes it the second largest hedge fund shareholder (amongst those we track) at Micron Technology Inc (NASDAQ:MU), only trailing Seth Klarman’s Baupost Group. Mr. Klarman’s fund owns roughly 51.655 million shares of Micron Technology Inc (NASDAQ:MU), a stock that returned almost 50% since the end of Q1.

Marvell Technology Group Ltd (NASDAQ:MRVL), a $7.4 billion market cap fabless semiconductor provider, occupies the third spot in this list, even though Greenlight last declared having cut its exposure to the stock by 11%. The fund’s 39.429 million shares of Marvell Technology Group Ltd (NASDAQ:MRVL) have lost almost 6% since the end of Q1, but have been pretty much flat, year-to-date. Nonetheless, this position is still worth more than $620 million.

In addition to Mr. Einhorn, other funds like Peter Rathjens, Bruce Clarke And John Campbell’s Arrowstreet Capital also hold millionaire stakes in Marvell Technology Group Ltd (NASDAQ:MRVL). Arrowstreet owns more than 7 million shares, worth more than $100 million.

Cigna Corporation (NYSE:CI) escalated one position in relation to the previous quarter. Greenlight’s 4.21 million shares make it the fourth most valuable holding at the fund’s equity portfolio. This $24.8 billion market cap health services organization saw its stock price rise only 5.6% year-to-date. However, Mr. Einhorn’s position at Cigna Corporation (NYSE:CI) has remained unchanged.

A fund that seems particularly bullish about Cigna Corporation (NYSE:CI) is Richard S. Pzena’s Pzena Investment Management, which last declared having upped its stake in the company by 16%, to 4.82 million shares, worth more than $400 million.

Finally, there’s a small-cap company: Oil States International, Inc. (NYSE:OIS), a $3.37 billion market cap worldwide provider of specialty products and services to oil and gas drilling and production companies. As reported in late June, Greenlight Capital’s position in Oil States International, Inc. (NYSE:OIS) remained unchanged over the last reported quarter. However, a series of stock sales that Barry Rosenstein’s Jana Partners made over June have transformed Mr. Einhorn’s fund in the largest hedge fund shareholder at the company –amongst the 700 funds that we track. Its 2.75 million Oil States International, Inc. (NYSE:OIS) shares are worth more than $270 million, and account for roughly 4% of its total equity portfolio’s value.

Following the June disposals, Jana Partners owns 2.6 million shares, down from the 6.1 million shares held by the end of Q1. Another fund with big bets on Oil States International, Inc. (NYSE:OIS) is Alexander Roepers’ Atlantic Investment Management, which last declared having increased its exposure to the company by 29%, holding a total of 2.47 million shares.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!