Greenlight Capital’s Performance over other Funds in Micron Technology Inc (NASDAQ:MU), Apple Inc. (NASDAQ:AAPL), Marvell Technology Group Ltd (NASDAQ:MRVL), Oil States International, Inc. (NYSE:OIS) and Cigna Corporation (NYSE:CI)

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By Henry Owen on July 10, 2014 Technology & Software

Greenlight Capital of David Einhorn moved ahead of other hedge funds this year. They returned 6.7% by June’s end, as compared to S&P 500 Index’s return of 6%. Let’ glance at the holdings of the Greenlight Capital to determine if any of them are worth investing in.

Foremost is Apple Inc. (NASDAQ:AAPL) that saw a rise in its stock price by 20% from the beginning of this year. The market capitalization of the company is $578 billion. Einhorn holds 1.993 million hedge fund shares of the company that are worth over $1 billion. Despite the fund’s reduced exposure to the company, it still holds the largest shares in the company.

Meanwhile, Carl Icahn’s fund, Icahn Capital LP, bullishly increased its stake in Apple Inc. (NASDAQ:AAPL). The increase is worth over $4 billion and has a value of 7.54 million shares. This is a 59% increase.

In the equity portfolio for Einhorn, Micron Technology Inc (NASDAQ:MU) held the second largest position. But the company’s stakes also decreased. Greenlight Capital reduced its stakes by 8% over the first quarter. Now it owns a volume of 44 million shares of the company, worth over $1 billion. This is about 15% of the equity portfolio value of the fund. Thus, Einhorn is the second largest shareholder of the hedge funds in the company. The largest shareholder is Baupost Group, who owns 51.655 million shares in Micron Technology Inc (NASDAQ:MU). The stock increased by 50% in the first quarter.

Greenlight Capital reduced its exposure to Marvell Technology Group Ltd (NASDAQ:MRVL) by 11% because the stock faced a loss of 6% by the end of its first quarter. The stock has not gained much over a year-to-date basis either. The fund still holds 39.429 million shares in the company, which are worth over $620 million. This gives Marvell Technology Group Ltd (NASDAQ:MRVL) the third position in the equity portfolio under discussion. The market capitalization of the company is worth $7.4 billion.

Another fund, Arrowstreet Capital also holds shares in Marvell Technology Group Ltd (NASDAQ:MRVL). The fund holds over 7 million shares that value to over $100 million.

Cigna Corporation (NYSE:CI) comes on fourth position in the equity portfolio of Greenlight Capital. The company has increased its position by one, over the last quarter. The company’s stock increased by 5.6%. The market capitalization of the company is $24.8 billion. Meanwhile, Einhorn’s position at the corporation remains same.

Pzena Investment Management is very optimistic about Cigna Corporation (NYSE:CI) and so has increased its shares by 16% in the company. The volume now held by Pzena is 4.82 million shares which are worth $400 million.

Oil States International, Inc. (NYSE:OIS) has a small market capitalization of $3.37 billion. Einhorn’s position in the company remained same as of late June. Because of some stock sales made by Partners, Einhorn became the largest fund shareholder in the company from among other 700 funds. Einhorn holds 2.75 million shares in the company that are worth over $270 million. Jana Partners now has 2.6 million shares in the company while Atlantic Investment Management holds 2.47 million shares after increasing exposure by 29%.