David Einhorn’s Greenlight Capital is one of the most successful hedge funds of the past decade. The fund has increased its equity portfolio to $7.29 billion in the fourth quarter of 2013 against $6.03 billion reported for the previous quarter. The fund has invested more than 50% of its portfolio value in the Technology sector. During the fourth quarter, Greenlight has initiated new positions in eight stocks and sold out its position in one company.
Greenlight holds over 18% of its equity portfolio in Apple Inc (NASDAQ:AAPL). The fund disclosed ownership of 2.40 million shares of Apple, worth $1.35 billion, the stake remained unchanged over the quarter. The competition in the smartphone business is picking up with the main fight between Apple and Samsung Electronics. Samsung has a better market share as it also sells cheaper versions of the smartphone. Apple seems to be upping the ante as reports suggest that it is already working on the release of another version of its iconic iPhone.
The second highest holding is in Micron Technology Inc (NASDAQ:MU), in which the hedge fund holds 47.70 million shares worth $1.04 billion. The fund has substantially increased its position in the company during the last quarter, adding almost 24.7 million shares.
This is followed by a $696.73 million stake, which amasses 17.05 million shares of General Motors Co (NYSE:GM). There has been no change in the holdings during the last quarter of 2013. General Motors is currently recalling more than 770,000 Chevrolet Cobalt and Pontiac G5 compact cars to address an issue with the ignition switches. The recall is being implemented in North America and the company is targeting model from 2005 to 2007. The faulty ignition switches have been blamed for near fatal crashes.
The fourth place is taken by Marvell Technology Group Ltd (NASDAQ:MRVL). The fund has invested $636.88 million in 44.29 million shares of the company.
Among the most notable investments, Cigna Corporation (NYSE:CI) takes the fifth place with a stake of $368.40 million, which contains 4.21 million shares. The fund has reduced the stake by approximately 433,200 shares during the October-December period. The company recently declared its fourth quarter results, which showed revenues of $8.15 billion for the quarter represented a 7% rise on the year; however it disappointed the analysts posting an EPS of $1.39, down in comparison with the estimates of $1.49 .