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What Were David Einhorn’s Top Buys in 3Q17?

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David Einhorn’s top buys in 3Q17

Previously in this series, we discussed activist hedge fund manager David Einhorn’s new position in Twitter (TWTR) and his largest holdings in 3Q17. In this part, we’ll discuss Einhorn’s top buys in 3Q17.

Greenlight Capital’s top buys in 3Q17 included Brighthouse Financial (BHF), Tempur Sealy International (TPX), Micron Technology (MU), Adient (ADNT), and General Motors CALL Option. The firm increased nearly 6.6%, 3.8%, 1.9%, 1.9%, and 1.3% of its holdings in these stocks in 3Q17, respectively.

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Brighthouse Financial

According to the institutional ownership report, Greenlight Capital was the third-largest investor in Brighthouse Financial with 6.7 million shares in 3Q17. Metropolitan Life Insurance Company was the largest investor in Brighthouse Financial in 3Q17 with 23.1 million shares.

Brighthouse Financial provides life insurance solution in the US (SPX-INDEX) (SPY). Greenlight Capital’s fresh and strong position in Brighthouse Financial stock indicates that Einhorn sees great potential in the stock. He has an optimistic view on Brighthouse Financial.

Micron Technology

Micron Technology is also playing an important role in Einhorn’s portfolio. In 2Q17, Micron Technology represented 1.3% of the firm’s portfolio. In 3Q17, it represented 3.1% of the firm’s portfolio. The growing demand for technology in the economy (QQQ) will play an important role for this semiconductor giant. Micron Technology was also one of the top holdings in David Tepper’s portfolio in 3Q17.

In the next part of this series, we’ll analyze Einhorn’s top sells in 3Q17.

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