July 4, 2020

Greenlight Increases Apple Investment


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President of Greenlight Capital David Einhorn arrives for the Time 100 gala celebrating the magazine's naming of the 100 most influential people in the world for the past year, in New York

President of Greenlight Capital David Einhorn

IVC POST | Marc Castro

Greenlight Capital, David Einhorn’s investment firm, has increased its investment position in Apple Inc. He is quoted to having said that he is waiting for the company’s ‘next blockbuster product’.

In a conference call for his Greenlight Capital, which is based out of the Cayman Islands, he did not elaborate on when the hedge fund increased its stake or what is the current size of the company’s holdings in what is considered the most valuable company in the world.

According to regulatory filings, at the end of 2012, Greenlight Capital was holding 1.3 million Apple shares. As of market close last Monday, these shares were worth nearly US$600 million.

File photo of David Einhorn, President of Greenlight Capital, speakiing at 6th Annual New York Value Investing Congress in New York CityEinhorn is one of the most closely observed investors especially after his much publicized battle with Apple as to the return of Apple’s cash pile to its investors and shareholders. While he admittedly took a hit when the share prices fell by 17%, he added that Apple took a major step forward by the issuancer of US$17 billion in bonds last April 30.

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