By Emily Chasan
NEW YORK, Aug 16 (Reuters) - Hedge fund manager David Einhorn's Greenlight Capital on Monday reported a bigger move into the technology sector as the firm bought more shares in Microsoft Corp, Xerox Corp and took a stake in Apple Inc.
Einhorn also revealed in his quarterly regulatory filing with the U.S. Securities and Exchange Commission that he had more than doubled his stake in Microsoft to 7.66 million shares, and in Xerox by more than 90 percent to 13.5 million shares.
Einhorn, whose fund manages about $6.5 billion, also bought 312,500 shares in Apple as of June 30, according to the regulatory filing. In a second-quarter letter to investors, he had described Apple as 'iTractive' given its track record for innovation and strong balance sheet.
By contrast, Einhorn reduced his holdings by about 35 percent in corporate data storage equipment maker EMC Corp to about 5.8 million shares.
Einhorn has gained a following in the hedge fund industry over the past few years after publicly questioning the finances and accounting of Lehman Brothers four months before the investment bank collapsed in September 2008.
In the quarterly regulatory filing, Einhorn also reported he had raised his stake in Pfizer Inc by 27.5 percent to 23.1 million shares. Einhorn had said in his second-quarter letter to investors that he believes investors will gain confidence in future sustainable earnings at the drugmaker.
Greenlight also dissolved stakes in URS Corp, ADP and Coinstar Inc, and took new stakes in energy company Ensco PLC and defense contractor Lockheed Martin Corp, according to the filing.
Large investors, like Einhorn, are required to report their holdings of U.S.-listed securities at the end of each quarter, but not short positions or holdings of other securities such as bonds and over-the-counter derivatives contracts.
Einhorn has said this year he has been shorting rating agencies like Moody's, and investing in gold, but was not required to put those positions in the filing.
(Reporting by Emily Chasan; editing by Bernard Orr) Keywords: FUNDS/GREENLIGHT (emily.chasan@thomsonreuters.com; +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
NEW YORK, Aug 16 (Reuters) - Hedge fund manager David Einhorn's Greenlight Capital on Monday reported a bigger move into the technology sector as the firm bought more shares in Microsoft Corp, Xerox Corp and took a stake in Apple Inc.
Einhorn also revealed in his quarterly regulatory filing with the U.S. Securities and Exchange Commission that he had more than doubled his stake in Microsoft to 7.66 million shares, and in Xerox by more than 90 percent to 13.5 million shares.
Einhorn, whose fund manages about $6.5 billion, also bought 312,500 shares in Apple as of June 30, according to the regulatory filing. In a second-quarter letter to investors, he had described Apple as 'iTractive' given its track record for innovation and strong balance sheet.
By contrast, Einhorn reduced his holdings by about 35 percent in corporate data storage equipment maker EMC Corp to about 5.8 million shares.
Einhorn has gained a following in the hedge fund industry over the past few years after publicly questioning the finances and accounting of Lehman Brothers four months before the investment bank collapsed in September 2008.
In the quarterly regulatory filing, Einhorn also reported he had raised his stake in Pfizer Inc by 27.5 percent to 23.1 million shares. Einhorn had said in his second-quarter letter to investors that he believes investors will gain confidence in future sustainable earnings at the drugmaker.
Greenlight also dissolved stakes in URS Corp, ADP and Coinstar Inc, and took new stakes in energy company Ensco PLC and defense contractor Lockheed Martin Corp, according to the filing.
Large investors, like Einhorn, are required to report their holdings of U.S.-listed securities at the end of each quarter, but not short positions or holdings of other securities such as bonds and over-the-counter derivatives contracts.
Einhorn has said this year he has been shorting rating agencies like Moody's, and investing in gold, but was not required to put those positions in the filing.
(Reporting by Emily Chasan; editing by Bernard Orr) Keywords: FUNDS/GREENLIGHT (emily.chasan@thomsonreuters.com; +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.