Greenlight Capital

Q2 2015 13F · by David Einhorn, portfolio manager

As of: Jun 30, 2015
Filed: Aug 14, 2015
US stock: $8.0B · prev $7.8B
Positions: 41 · prev 44
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves38 since the prior filing

+9.9 pp in · −9.9 pp out

New 6 +7.50 pp
Added 8 +2.36 pp
Trimmed 15 −0.25 pp
Exited 9 −9.62 pp

The book

Concentrated · behaves like 19 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 47% a year, about 2.1 years per position

Low
Moderate
High

Top 5 positions42% of US stock

AAPL Apple Inc. trimmed−0.27 pp trimmed−0.2711.6%
SUNEQ Sunedison Inc trimmed+1.63 pp trimmed+1.639.3%
MU Micron Technology, Inc. added−2.72 pp added−2.729.0%
unresolved Consol Energy Inc added−1.14 pp added−1.146.2%
GM General Motors Company added+1.56 pp added+1.566.1%

Positions41 in this filing · 9 exited


AAPLApple Inc.	11.61%	7,382,571	$926M	trimmed−1%	−0.27 pp	9 q
SUNEQSunedison Inc	9.32%	24,844,588	$743M	trimmed−0%	+1.63 pp	7 q
MUMicron Technology, Inc.	8.97%	37,949,546	$715M	added+13%	−2.72 pp	8 q
unresolvedConsol Energy Inc	6.23%	22,840,486	$497M	added+11%	−1.14 pp	4 q
GMGeneral Motors Company	6.12%	14,645,763	$488M	added+55%	+1.56 pp	2 q
CFGCitizens Financial Group, Inc.	4.30%	12,558,800	$343M	trimmed−0%	+0.39 pp	4 q
unresolvedChicago Bridge & Iron Co N V	4.22%	6,723,457	$336M	trimmed−0%	−0.05 pp	3 q
TWXTime Warner Inc	4.14%	3,778,400	$330M	held	—	3 q
VOYAVoya Financial, Inc.	3.42%	5,876,368	$273M	trimmed−1%	+0.15 pp	5 q
GRBKGreen Brick Partners, Inc	3.31%	24,118,668	$264M	added+54%	+1.65 pp	3 q
AERAercap Holdings N.V.	3.21%	5,581,800	$256M	held	—	5 q
unresolvedUIL Holdings Corporation	2.87%	4,991,123	$229M	added+92%	+1.15 pp	2 q
ACMAecom	2.70%	6,513,504	$215M	trimmed−1%	+0.10 pp	4 q
ONON Semiconductor Corp	2.54%	17,305,600	$202M	trimmed−1%	−0.19 pp	4 q
BNYBank of New York Mellon Corporation	2.11%	4,000,000	$168M	added×12.1	+1.94 pp	2 q
LBTYKLiberty Global Ltd. Class C	1.97%	3,109,080	$157M	held	—	9 q
AMATApplied Materials Inc	1.93%	8,000,000	$154M	new	+1.93 pp	new
unresolvedMichael Kors Hldgs Ltd	1.91%	3,620,000	$152M	new	+1.91 pp	new
unresolvedMkt Vectors Gld Miners ETF	1.90%	8,517,796	$151M	held	—	9 q
LRCXLam Research Corp	1.67%	1,636,700	$133M	trimmed−1%	+0.18 pp	6 q
IACIIac / Interactivecorp (De) Com Stk	1.60%	1,598,390	$127M	trimmed−37%	−0.60 pp	9 q
S9QSpirit Aerosystems Hold-cl A	1.48%	2,136,685	$118M	trimmed−3%	0.00 pp	9 q
TTWOTake-Two Interactive Software Inc	1.44%	4,158,306	$115M	trimmed−12%	−0.10 pp	7 q
OIO-I Glass, Inc.	1.25%	4,329,433	$99M	new	+1.25 pp	new
unresolvedHertz Global Holdings Inc	1.23%	5,400,000	$98M	new	+1.23 pp	new
unresolvedYahoo Inc	1.00%	2,025,000	$80M	held	—	3 q
TPHTri Pointe Homes, Inc.	0.92%	4,786,061	$73M	held	—	3 q
MMacy's Inc.	0.86%	1,019,200	$69M	trimmed−39%	−0.54 pp	2 q
unresolvedSunedison Semiconductor Ltd	0.80%	3,700,000	$64M	added+37%	−0.10 pp	2 q
LBTYALiberty Global Ltd. Class A	0.79%	1,168,418	$63M	held	—	9 q
unresolvedNorthstar Asset Mgmt Group I	0.71%	3,054,474	$56M	trimmed−4%	−0.24 pp	4 q
SCSantander Consumer USA Holdings Inc	0.70%	2,172,251	$56M	held	—	2 q
unresolvedTwenty First Centy Fox Inc	0.69%	1,700,000	$55M	new	+0.69 pp	new
DDSDillard's, Inc. Class A	0.49%	375,000	$39M	new	+0.49 pp	new
LNWOLight & Wonder Inc	0.40%	2,035,000	$32M	held	—	2 q
unresolvedIngram Micro Inc	0.38%	1,208,204	$30M	added+9%	+0.02 pp	2 q
VODVodafone Group PLC	0.29%	639,294	$23M	held	—	6 q
unresolvedKapstone Paper & Packaging C	0.27%	939,998	$22M	trimmed−33%	−0.32 pp	3 q
OISOil States International, Inc.	0.12%	265,028	$10M	held	—	9 q
FSAMFifth Street Asset Managemen	0.08%	599,000	$6M	held	—	3 q
unresolvedHalyard Health Inc	0.06%	127,532	$5M	trimmed−82%	−0.39 pp	3 q
KEYSKeysight Technologies, Inc.	—	−4,426,446	—	exited	−2.11 pp	—
MRVLMarvell Technology, Inc.	—	−9,048,864	—	exited	−1.71 pp	—
unresolvedLife Time Fitness Inc	—	−1,811,085	—	exited	−1.65 pp	—
CONNQConn's Inc	—	−3,563,000	—	exited	−1.39 pp	—
unresolvedE M C Corp Mass	—	−4,218,200	—	exited	−1.38 pp	—
NOKNokia Corporation	—	−6,450,000	—	exited	−0.63 pp	—
unresolvedCiveo Corp	—	−10,658,929	—	exited	−0.35 pp	—
TIMETime Inc	—	−740,000	—	exited	−0.21 pp	—
unresolvedFcb Finl Hldgs Inc	—	−550,000	—	exited	−0.19 pp	—