Billionaire David Einhorn’s 13F Portfolio in Green Despite Sinking Sunedison

#3 Michael Kors Holdings Ltd (NYSE:KORS)

– Shares Owned by Greenlight Capital (as of December 31): 8.97 Million

– Value of Holding (as of December 31): $359.54 Million

Even a more successful bet for Greenlight Capital was the $9.3 billion global accessories, footwear and apparel company Michael Kors Holdings, whose stock advanced by more than 42% during the January-March period. Shares are still trading about 48% lower than their historical high in February 2014. Things have been going downhill for Michael Kors Holdings Ltd (NYSE:KORS) since then, as it lost more and more business to its competitors, such as Kate Spade and Coach, which also operate in the ‘affordable luxury’ pricing segment. However, impressive financial results for the company’s third fiscal quarter, ended December 31, indicated that the company is gaining back the lost ground. The top line grew by 9.9% on a year-over-year basis, if the effects of currency fluctuations are excluded and despite high costs from new store openings profit margin stood at 29% of sales. Einhorn raised Greenlight’s stake in the company by 28% during the fourth quarter. Cliff Asness‘ AQR Capital Management also hiked its Michael Kors Holdings Ltd (NYSE:KORS) holding by 14% to 2.78 million shares during the same period.

#2 General Motors Company (NYSE:GM)

– Shares Owned by Greenlight Capital (as of December 31): 8.97 Million

– Value of Holding (as of December 31): $359.54 Million

A 14% reduction in its General Motors Company (NYSE:GM) stake during the fourth trimester worked well for the firm as the stock slid by about 10.4% in the following three months. Last month, for the first time in five years, Ford managed to outsell GM in the US by 936 light vehicles as its sales rose by 7.8%, while GM registered only a 0.9% increase year-on-year. David Tepper‘s Appaloosa Management LP holds about 12.59 million shares of General Motors Company (NYSE:GM).

 

#1 Apple Inc. (NASDAQ:AAPL)

– Shares Owned by Greenlight Capital (as of December 31): 6.28 Million

– Value of Holding (as of December 31): $661.54 Million

Greenlight reduced its position in Apple Inc. (NASDAQ:AAPL) by 44% in the fourth  quarter and the stock price of the Cupertino-based tech giant advanced by 4.5% in the following three months. Many investors are worried that the iPhone Replacement cycle might be slowing, or the smartphone might have reached a saturation point in terms of market penetration, but a recent survey by Goldman Sachs revealed promising prospects for the next version of the most popular smartphone in the U.S. The majority of iPhone users were considering replacing their gadget this fall and 11% of the respondents were thinking of getting their first iPhone, of which 25% had their eyes on the iPhone 7. Renowned activist investor Carl Icahn‘s Icahn Capital Lp reduced its exposure to Apple Inc. (NASDAQ:AAPL) by 14% in the fourth quarter to 45.76 million shares.

 

Disclosure: None