| Quarter Ending 03/31/2009 | Back to the Enlightened American Website | |||||||||
| David Einhorn (Greenlight Capital) | ||||||||||
| ***** NEW POSITIONS TAKEN | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| N/A | N/A | AMERICAN EAGLE OUTFITTERS NE | 1,050,000 | $12.24 | $12,852,000 | |||||
| N/A | N/A | BJ SVCS CO | 2,300,000 | $9.95 | $22,885,000 | |||||
| N/A | N/A | CAL DIVE INTL INCNOTE 3.250% | 53,000,000 | $0.47 | $24,645,000 | |||||
| N/A | N/A | CON-WAY INC | 1,805,305 | $17.93 | $32,369,000 | |||||
| N/A | N/A | DISCOVER FINL SVCS | 4,450,000 | $6.31 | $28,080,000 | |||||
| N/A | N/A | HARMAN INTL INDS INC | 3,705,757 | $13.53 | $50,139,000 | |||||
| N/A | N/A | HESS CORP | 1,300,000 | $54.20 | $70,460,000 | |||||
| N/A | N/A | JONES APPAREL GROUP INC | 5,612,900 | $4.22 | $23,686,000 | |||||
| N/A | N/A | KKR FINANCIAL HLDGS LLC | 351,352 | $0.89 | $313,000 | |||||
| N/A | N/A | LIZ CLAIBORNE INC | 50,000 | $2.48 | $124,000 | |||||
| N/A | N/A | MICROSOFT CORP | 1,000,000 | $18.37 | $18,370,000 | |||||
| N/A | N/A | NIKE INC | 7,500 | $46.93 | $352,000 | |||||
| N/A | N/A | PFIZER INC | 5,930,000 | $13.62 | $80,767,000 | |||||
| N/A | N/A | ROHM & HAAS CO | 387,500 | $78.84 | $30,550,000 | |||||
| N/A | N/A | WYETH | 1,430,000 | $43.04 | $61,547,000 | |||||
| N/A | N/A | EVEREST RE GROUP LTD | 90,173 | $70.80 | $6,384,000 | |||||
| N/A | N/A | IPC HLDGS LTD | 792,851 | $27.04 | $21,439,000 | |||||
| N/A | N/A | MAX CAPITAL GROUP LTD | 72,100 | $17.24 | $1,243,000 | |||||
| ***** SOLD OFF | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| N/A | N/A | CF INDS HLDGS INC | 1,812,938 | $49.16 | $89,124,000 | |||||
| N/A | N/A | DR PEPPER SNAPPLE GROUP INC | 859,614 | $16.25 | $13,969,000 | |||||
| N/A | N/A | ENSCO INTL INC | 138,412 | $28.39 | $3,929,000 | |||||
| N/A | N/A | PROSHARES TR PSHSULTSH 20YRS | 429,600 | $37.73 | $16,208,000 | |||||
| N/A | N/A | SEARS HLDGS CORP | 38,753 | $38.86 | $1,506,000 | |||||
| N/A | N/A | TRIPLE-S MGMT CORP CL B | 587,588 | $11.50 | $6,757,000 | |||||
| ***** HOLD POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 0.00% | 22.95% | AMKOR TECHNOLOGY INC | 1,005,631 | 1,005,631 | $2.68 | $2.18 | $2,695,000 | $2,192,000 | ||
| 0.00% | 5.13% | ANIXTER INTL INC | 52,387 | 52,387 | $31.67 | $30.12 | $1,659,000 | $1,578,000 | ||
| 0.00% | -45.47% | BEAZER HOMES USA INC 4.625% | 5,165,000 | 5,165,000 | $0.24 | $0.44 | $1,239,000 | $2,272,000 | ||
| 0.00% | -40.09% | BELDEN INC | 92,600 | 92,600 | $12.51 | $20.87 | $1,158,000 | $1,933,000 | ||
| 0.00% | 5.72% | BIOFUEL ENERGY CORP | 7,542,104 | 7,542,104 | $0.37 | $0.35 | $2,791,000 | $2,640,000 | ||
| 0.00% | -63.03% | BRANDYWINE RLTY TR | 277,148 | 277,148 | $2.85 | $7.71 | $790,000 | $2,137,000 | ||
| 0.00% | 14.76% | CADENCE DESIGN SYSTEM INC | 2,573,535 | 2,573,535 | $4.20 | $3.66 | $10,809,000 | $9,419,000 | ||
| 0.00% | 21.83% | CADENCE DESIGN SYSTEM 1.375% | 12,500,000 | 12,500,000 | $0.72 | $0.60 | $9,062,000 | $7,438,000 | ||
| 0.00% | -31.26% | CARPENTER TECHNOLOGY CORP | 432,044 | 432,044 | $14.12 | $20.54 | $6,100,000 | $8,874,000 | ||
| 0.00% | -54.27% | COLONIAL PPTYS TR | 431,573 | 431,573 | $3.81 | $8.33 | $1,644,000 | $3,595,000 | ||
| 0.00% | 39.27% | CORNING INC | 296,341 | 296,341 | $13.27 | $9.53 | $3,933,000 | $2,824,000 | ||
| 0.00% | -57.96% | CROSSTEX ENERGY INC | 462,167 | 462,167 | $1.64 | $3.90 | $758,000 | $1,803,000 | ||
| 0.00% | -37.86% | DANA HOLDING CORP | 986,161 | 986,161 | $0.46 | $0.74 | $453,000 | $729,000 | ||
| 0.00% | -49.83% | DUKE REALTY CORP | 246,579 | 246,579 | $5.50 | $10.96 | $1,356,000 | $2,703,000 | ||
| 0.00% | 1.39% | EINSTEIN NOAH REST GROUP INC | 10,733,469 | 10,733,469 | $5.83 | $5.75 | $62,577,000 | $61,718,000 | ||
| 0.00% | -42.18% | EMPLOYERS HOLDINGS INC | 2,325,000 | 2,325,000 | $9.54 | $16.50 | $22,181,000 | $38,362,000 | ||
| 0.00% | -93.35% | ENERGY PARTNERS LTD | 690,433 | 690,433 | $0.09 | $1.35 | $62,000 | $932,000 | ||
| 0.00% | 2.51% | FIFTH STREET FINANCE CORP | 2,259,492 | 2,259,492 | $7.74 | $7.55 | $17,488,000 | $17,059,000 | ||
| 0.00% | -25.19% | FOCUS MEDIA HLDG LTD | 1,089,407 | 1,089,407 | $6.80 | $9.09 | $7,408,000 | $9,903,000 | ||
| 0.00% | 12.01% | GENERAL CABLE CORP DEL NEW | 123,743 | 123,743 | $19.82 | $17.69 | $2,452,000 | $2,189,000 | ||
| 0.00% | -59.77% | GUARANTY FINL GROUP INC | 8,317,242 | 8,317,242 | $1.05 | $2.61 | $8,734,000 | $21,708,000 | ||
| 0.00% | 44.13% | HEALTH MGMT ASSOC INC NEW CL A | 14,406,185 | 14,406,185 | $2.58 | $1.79 | $37,168,000 | $25,787,000 | ||
| 0.00% | 32.98% | HEALTH NET INC | 807,047 | 807,047 | $14.48 | $10.89 | $11,686,000 | $8,788,000 | ||
| 0.00% | -9.01% | HUNTSMAN CORP | 965,000 | 965,000 | $3.13 | $3.44 | $3,021,000 | $3,320,000 | ||
| 0.00% | -22.88% | JA SOLAR HOLDINGS CO LTD | 2,515,068 | 2,515,068 | $3.37 | $4.37 | $8,476,000 | $10,990,000 | ||
| 0.00% | 4.58% | LAWSON SOFTWARE INC NEW 2.5% | 10,800,000 | 10,800,000 | $0.80 | $0.77 | $8,640,000 | $8,262,000 | ||
| 0.00% | -7.00% | LIBERTY MEDIA CORP NEW | 549,529 | 549,529 | $2.90 | $3.12 | $1,594,000 | $1,714,000 | ||
| 0.00% | 2.77% | M D C HLDGS INC | 70,324 | 70,324 | $31.14 | $30.30 | $2,190,000 | $2,131,000 | ||
| 0.00% | 8.18% | MDC PARTNERS INC CL A | 249,356 | 249,356 | $3.29 | $3.04 | $820,000 | $758,000 | ||
| 0.00% | 15.48% | MEMC ELECTR MATLS INC | 7,287,698 | 7,287,698 | $16.49 | $14.28 | $120,174,000 | $104,069,000 | ||
| 0.00% | 8.85% | MARKET VECTOR GOLD MINER ETF | 3,200,000 | 3,200,000 | $36.88 | $33.88 | $118,016,000 | $108,416,000 | ||
| 0.00% | -45.07% | MERCER INTL INC 8.5% | 13,500,000 | 13,500,000 | $0.39 | $0.71 | $5,265,000 | $9,585,000 | ||
| 0.00% | -24.18% | OSHKOSH CORP | 216,300 | 216,300 | $6.74 | $8.89 | $1,458,000 | $1,923,000 | ||
| 0.00% | -32.76% | SMITHFIELD FOODS INC | 239,263 | 239,263 | $9.46 | $14.07 | $2,264,000 | $3,367,000 | ||
| 0.00% | -2.24% | SUPERVALU INC | 128,201 | 128,201 | $14.27 | $14.60 | $1,830,000 | $1,872,000 | ||
| 0.00% | -0.41% | TARGET CORP | 3,475,444 | 3,475,444 | $34.39 | $34.53 | $119,520,000 | $120,007,000 | ||
| 0.00% | 68.91% | WESTERN DIGITAL CORP | 686,458 | 686,458 | $19.34 | $11.45 | $13,276,000 | $7,860,000 | ||
| 0.00% | 28.24% | WILLIAMS SONOMA INC | 935,613 | 935,613 | $10.08 | $7.86 | $9,431,000 | $7,354,000 | ||
| 0.00% | -2.74% | AIRCASTLE LTD | 381,941 | 381,941 | $4.65 | $4.78 | $1,776,000 | $1,826,000 | ||
| 0.00% | -25.28% | FOSTER WHEELER LTD | 375,775 | 375,775 | $17.47 | $23.38 | $6,565,000 | $8,786,000 | ||
| 0.00% | 7.97% | AERCAP HOLDINGS NV | 1,000,000 | 1,000,000 | $3.25 | $3.01 | $3,250,000 | $3,010,000 | ||
| 0.00% | -50.61% | DANAOS CORPORATION | 194,705 | 194,705 | $3.34 | $6.76 | $650,000 | $1,316,000 | ||
| 0.00% | -27.56% | TEEKAY CORPORATION | 84,365 | 84,365 | $14.24 | $19.65 | $1,201,000 | $1,658,000 | ||
| ***** AUGMENTED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| 30.65% | -44.13% | 950,000 | DOW CHEM CO | 4,050,000 | 3,100,000 | $8.43 | $15.09 | $34,142,000 | $46,779,000 | |
| 29.08% | 8.88% | 2,888,525 | E M C CORP MASS | 12,820,000 | 9,931,475 | $11.40 | $10.47 | $146,148,000 | $103,982,000 | |
| 0.96% | -0.27% | 30,000 | ECHOSTAR CORP CL A | 3,167,130 | 3,137,130 | $14.83 | $14.87 | $46,969,000 | $46,649,000 | |
| 13.86% | -29.01% | 794,827 | HELIX ENERGY SOLUTIONS GRP I | 6,527,645 | 5,732,818 | $5.14 | $7.24 | $33,552,000 | $41,506,000 | |
| 76.48% | 34.22% | 8,500,000 | JA SOLAR HOLDINGS CO LTD 4.50% | 19,614,000 | 11,114,000 | $0.51 | $0.38 | $10,003,000 | $4,223,000 | |
| 4.97% | -17.69% | 267,700 | MI DEVS INC CL A | 5,655,235 | 5,387,535 | $6.14 | $7.46 | $34,723,000 | $40,191,000 | |
| 319.37% | 35.53% | 2,773,261 | MCDERMOTT INTL INC | 3,641,620 | 868,359 | $13.39 | $9.88 | $48,762,000 | $8,579,000 | |
| 142.04% | -40.65% | 1,876,417 | PATRIOT COAL CORP | 3,197,506 | 1,321,089 | $3.71 | $6.25 | $11,862,000 | $8,257,000 | |
| 339.86% | -22.15% | 2,688,847 | PATTERSON UTI ENERGY INC | 3,480,000 | 791,153 | $8.96 | $11.51 | $31,181,000 | $9,106,000 | |
| 94.25% | -39.27% | 1,641,300 | REPUBLIC AWYS HLDGS INC | 3,382,800 | 1,741,500 | $6.48 | $10.67 | $21,920,000 | $18,581,000 | |
| 13.91% | 4.31% | 514,000 | SPDR GOLD TRUST | 4,209,090 | 3,695,090 | $90.28 | $86.55 | $379,996,000 | $319,810,000 | |
| 101.08% | -66.82% | 226,209 | SINCLAIR BROADCAST GROUP INC | 450,000 | 223,791 | $1.03 | $3.10 | $463,000 | $694,000 | |
| 22.37% | -57.47% | 60,287 | SUNSTONE HOTEL INVS INC NEW | 329,787 | 269,500 | $2.63 | $6.19 | $868,000 | $1,668,000 | |
| 5.79% | 9.37% | 377,300 | TERADATA CORP DEL | 6,895,017 | 6,517,717 | $16.22 | $14.83 | $111,838,000 | $96,657,000 | |
| 89.92% | -42.52% | 2,290,654 | TICKETMASTER ENTMT INC | 4,838,000 | 2,547,346 | $3.69 | $6.42 | $17,852,000 | $16,354,000 | |
| 159.35% | -7.38% | 1,461,413 | ASPEN INSURANCE HOLDINGS LTD | 2,378,532 | 917,119 | $22.46 | $24.25 | $53,422,000 | $22,240,000 | |
| ***** REDUCED POSITIONS | ||||||||||
| % pos ch | % val ch | Change | COMPANY | Cur. Pos. | Prev. Pos. | Approx PPS | Prev PPS | Value | Prev Value | |
| -3.75% | -31.57% | -167,654 | ALLEGHENY ENERGY INC | 4,305,000 | 4,472,654 | $23.17 | $33.86 | $99,746,000 | $151,444,000 | |
| -46.89% | -26.90% | -3,282,110 | COMMSCOPE INC | 3,717,890 | 7,000,000 | $11.36 | $15.54 | $42,235,000 | $108,780,000 | |
| -4.68% | -0.88% | -217,909 | URS CORP NEW | 4,434,924 | 4,652,833 | $40.41 | $40.77 | $179,215,000 | $189,696,000 | |