Einhorn Buys Syngenta, Voya, Apple, Dumps Michael Kors In 4th Quarter

By MarketWatch Markets MarketWatch Pulse

Billionaire hedge-fund manager David Einhorn's Greenlight Capital bought U.S. -listed shares of Syngenta , as well as shares of Voya Financial , Mylan Inc. , and Rite Aid Corp. in the fourth quarter, while unloading a stake in fashion company Michael Kors Holdings , according to a Tuesday regulatory filing. Among the fund's fourth-quarter moves, Greenlight held a new stake of 925,000 shares in Swiss-based seed and agricultural chemical company Syngenta as of Dec. 31, according to filings-tracker Whalewisdom.com. Greenlight also upped its stake in Voya by 14%, or 752,552 shares, to nearly 5.921 million shares, and boosted its take in Rite Aid by more than 7 million shares, or 52%, to 20.463 million shares. The fund dumped its stake 3.07 million share stake in Michael Kors. Greenlight also purchased 25 million General Motors call options, which provide the right but not the obligation to purchase shares at a set price. Greenlight also sold 3.832 million GM shares, reducing its stake by 22%. The fund also added 613,300 shares of Apple Inc. , raising his stake by 11% to more than 5.8 million shares. Large investors are required to disclose their long stock-market holdings as of the end of each quarter.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.