Einhorn's Greenlight Buys BP, Sprint - Filing
15 February 2011 - 1:13PM
Dow Jones News
Greenlight Capital Inc., run by hedge fund manager David
Einhorn, in the fourth quarter built new positions in BP PLC (BP)
and Sprint Nextel Corp. (S), according to a filing Monday.
During the quarter Greenlight accumulated 55.9 million shares of
Sprint Nextel; the position would be worth $254 million at Monday's
closing stock price. The hedge fund firm also bought 3.3 million
shares of oil giant BP.
The value of Greenlight's stock holdings was $4.94 billion on
Dec. 31, 2010. The fund manager held $4.02 billion in stock at the
end of the third quarter.
At the end of the third quarter, nearly a quarter of
Greenlight's fund was composed of financial stocks. In the fourth
quarter, Greenlight added to its financial holdings with a new
stake of about 100,000 shares in Capitol Federal Financial Inc.
(CFFN). As of Dec. 31 it exited its 200,000-share position in
Oritani Financial Corp. (ORIT).
The most recent filing showed Greenlight also initiated
positions in LyondellBasell Industries (LYB), Potash Corporation of
Saskatchewan Inc. (POT) and Semgroup Corp. (SEMG).
Meanwhile, it exited Foster Wheeler (FWLT) and Ralcorp Holdings
Inc. (RAH).
Many investors who manage more than $100 million are required to
disclose most securities holdings within a month and a half of the
end of a quarter. The filings give the public a relatively fresh
look at the portfolios of well-known investors.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143;
corrie.driebusch@dowjones.com
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