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Greenlight Capital Inc., run by hedge fund manager David Einhorn, in the fourth quarter built new positions in BP PLC (BP) and Sprint Nextel Corp. (S), according to a filing Monday.
During the quarter Greenlight accumulated 55.9 million shares of Sprint Nextel; the position would be worth $254 million at Monday's closing stock price. The hedge fund firm also bought 3.3 million shares of oil giant BP.
The value of Greenlight's stock holdings was $4.94 billion on Dec. 31, 2010. The fund manager held $4.02 billion in stock at the end of the third quarter.
At the end of the third quarter, nearly a quarter of Greenlight's fund was composed of financial stocks. In the fourth quarter, Greenlight added to its financial holdings with a new stake of about 100,000 shares in Capitol Federal Financial Inc. (CFFN). As of Dec. 31 it exited its 200,000-share position in Oritani Financial Corp. (ORIT).
The most recent filing showed Greenlight also initiated positions in LyondellBasell Industries (LYB), Potash Corporation of Saskatchewan Inc. (POT) and Semgroup Corp. (SEMG).
Meanwhile, it exited Foster Wheeler (FWLT) and Ralcorp Holdings Inc. (RAH).
Many investors who manage more than $100 million are required to disclose most securities holdings within a month and a half of the end of a quarter. The filings give the public a relatively fresh look at the portfolios of well-known investors.
-By Corrie Driebusch, Dow Jones Newswires; 212-416-2143; email@example.com