David Einhorn Makes Adjustments To Top Holdings Apple Inc. (AAPL), Micron Technology, Inc. (MU), More

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Einhorn boosted his fund’s holding in Micron Technology, Inc. (NASDAQ:MU) by 13% to 37.95 million shares valued at $714.97 million, a position which amasses about 3.54% of the company’s outstanding shares. In his aforementioned investor letter, the billionaire fund manager expressed the belief that the $19.18 billion semiconductor company might face a couple of disappointing quarters in the future owing to the cyclical nature of the business, but that its shares have fallen too far, and are due for a rebound. Micron Technology, Inc. (NASDAQ:MU)’s stock has slumped by more than 51% year-to-date. Daniel S. Och‘s OZ Management slashed its holding in Micron Technology, Inc. (NASDAQ:MU) by 40% during the June quarter to 7.87 million shares valued at $148.22 million.

Einhorn increased his fund’s holding in CONSOL Energy Inc. (NYSE:CNX) by 10% during the second quarter, which was followed by further additions in July, taking the total stake to 29.61 million shares, amassing nearly 13% of the $2.97 billion energy company’s outstanding stake. The company’s stock price has cratered by more than 61% so far this year on account of decreasing coal and natural gas prices, but Einhorn seems to be undeterred by this as he clarified in his letter that CONSOL Energy Inc. (NYSE:CNX) prices are locked in under long-term contracts for almost all of 2015 and about half of 2016-2018’s production. Mason Hawkins’ Southeatern Asset Management is the largest stockholder of CONSOL Energy Inc. (NYSE:CNX), holding 48.21 million shares as of its latest 13D filing in July.

Einhorn’s General Motors Company (NYSE:GM) holding saw a big increase of 54% to 14.65 million shares valued at $488.14 million. The renewed belief in the company comes despite the $49.20 billion Detroit-based car manufacturer battling a deadly ignition defect. General Motors Company (NYSE:GM)’s stock price is down by nearly 10% year-to-date. Legendary investor Warren Buffett’s Berkshire Hathaway currently holds 41.0 million shares of General Motors Company (NYSE:GM) valued at $1.37 billion.

Disclosure: None

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