David Einhorn’s Greenlight bet big on CIT group last quarter.
The fund owned around 6.3 million in the 4th quarter and last quarter, Q1, Greenlight bought up 4 million more shares to bring his total to around 10 million shares worth ~$420 million.
He also bought more shares of Pfizer. Last quarter, Einhorn owned less than 3 million shares for around $50 million. As of last quarter, that stake was up to $300 million (14 million shares).
The only other big moves for Greenlight was selling out of ~$230 million worth (~6 million shares) of Cardinal Health. And selling almost entirely out of Energy Partners, which was a $12 million investment last quarter. Now Einhorn’s down to owning less than $500,000 worth of the stock (around 43,000 shares).
Einhorn also got rid of ~33 million shares in Flagstar Bancorp, worth ~$16 million.
All of this is reported in Einhorn’s 13F filing with the SEC.
Check out which bank Paulson bet big on last quarter –>
Eric Mindic’s bank bets show that he agrees with both of them –>
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