This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Apple Inc. (AAPL), MU, MRVL Rally In November As Einhorn Returns 5%

Stocks in this article: aapl GLRE GM MRVL MU

Greenlight Capital Re, Ltd. (GLRE) had a very profitable November, according to data posted on the company's website. The reinsurer was up 4.9 percent in the month of November compared to the S&P 500 .INX return of 2.8 percent for the month. Last month, GLRE was only up one percent as losses in short positions detracted from gains in long as Einhorn noted in the GLRE conference call for the third quarter. The strong returns were helped by longs in technology companies, Apple Inc. (AAPL), Micron Technology, Inc. (MU) and Marvell Technology Group Ltd. (MRVL).

See Greenlight Q3 letter to shareholders here.

Apple Inc. (AAPL) still largest holding

As of 30-November-2013, the largest disclosed long positions in our investment portfolio are Apple Inc. (AAPL), General Motors Company (GM), Marvell Technology Group Ltd. (MRVL), Micron Technology, Inc. (MU) and Vodafone Group Plc (VOD) (VOD). The investment portfolio is approximately 115% long and 66% short. This exposure analysis is calculated on a delta adjusted basis and excludes macro positions, which consist of gold, credit default swaps, sovereign debt, foreign currency positions, interest rate derivatives and others.

The portfolio positioning was largely unchanged from Greenlight’s top holdings as of October 31st. One new position, Micron Technology, Inc. (MU). Einhorn disclosed a stake in Micron at The Robin Hood Conference.

The stock was a strong performer in November with a return of approximately 20 percent. Einhorn’s largest holding, Apple Inc. (AAPL), was another strong performer with a monthly return of over 6 percent. The company’s second largest holding, GM, returned close to 5 percent. Marvel soared 18 percent in the past thirty days helping Einhorn to produce hefty returns.

However, other top positions had more modest returns. Vodafone Group Plc (VOD) (VOD) returned slightly less than one percent, while Oil States International, Inc. (OIS) was down close than 6 percent. Einhorn’s favorite precious metal, gold, had one of its worst months in 13 years.

Separately, closely watched hedge fund rival Dan Loeb, had another stellar month. The hedge fund re-insurer Third Point Reinsurance Ltd (TPRE) returned 2.5 percent in November, and 21.2 percent for YTD, according to a press release.

Below readers can find detailed returns from GLRE

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs