David Einhorn Greenlight Capital
David Einhorn is the founder of Greenlight Capital, a long/short equity firm known for deep fundamental research and high-profile idea presentations. He became widely known for critical short theses and for value-oriented long positions that can diverge sharply from consensus. Einhorn’s quarterly letters and conference talks are still closely read by professional and retail investors alike.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Chemours
CC
|
+$110M |
| 2 |
Light & Wonder
LNW
|
+$30.9M |
| 3 |
Dillards
DDS
|
+$25.7M |
| 4 |
Openlane
OPLN
|
+$19.1M |
| 5 |
Core Natural Resources Inc
CNR
|
+$10.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
General Motors
GM
|
+$122M |
| 2 |
AerCap
AER
|
+$33.3M |
| 3 |
ESV
Ensco Rowan plc
ESV
|
+$27.9M |
| 4 |
Voya Financial
VOYA
|
+$22.6M |
| 5 |
Optimum Communications Inc
OPTU
|
+$22M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 45.62% |
| 2 | Industrials | 15.54% |
| 3 | Energy | 12.11% |
| 4 | Financials | 10.2% |
| 5 | Communication Services | 7.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
General Motors
GM
$75.8B
| $226M | 16.66% |
5,860,702
-3,258,039
| -36% | -$122M |
2015 Q1
17 quarters
|
|
2
Green Brick Partners
GRBK
$2.8B
| $200M | 14.79% |
24,118,668
| – | – |
2013 Q2
24 quarters
|
|
|
3
AerCap
AER
$25.2B
| $181M | 13.37% |
3,483,069
-680,009
| -16% | -$33.3M |
2014 Q2
20 quarters
|
|
4
Brighthouse Financial
BHF
$2.36B
| $121M | 8.91% |
3,292,719
| – | – |
2017 Q3
7 quarters
|
|
|
CCR
5
DELISTED
CONSOL Coal Resources LP
CCR
| $91.5M | 6.75% |
5,488,438
| – | – |
2015 Q3
15 quarters
|
|
|
6
Chemours
CC
$1.92B
| $89.3M | 6.59% |
+3,721,823
| New | +$110M |
2019 Q2
0 quarters
|
|
|
7
Optimum Communications Inc
OPTU
$217M
| $77.6M | 5.73% |
3,187,740
-924,800
| -22% | -$22M |
2018 Q3
3 quarters
|
|
8
Adient
ADNT
$1.28B
| $53.2M | 3.93% |
2,192,587
+210,295
| +11% | +$4.33M |
2017 Q2
8 quarters
|
|
9
CNX Resources
CNX
$5.04B
| $43M | 3.17% |
5,882,261
+92,161
| +2% | +$810K |
2014 Q3
19 quarters
|
|
10
Somnigroup International
SGI
$15.6B
| $34.6M | 2.56% |
1,888,100
-749,600
| -28% | -$12.1M |
2017 Q2
8 quarters
|
|
|
11
DELISTED
Light & Wonder
LNW
| $29.6M | 2.19% |
+1,494,778
| New | +$30.9M |
2019 Q2
0 quarters
|
|
12
Hilton Grand Vacations
HGV
$3.31B
| $27.6M | 2.04% |
868,100
-251,900
| -22% | -$7.49M |
2018 Q4
2 quarters
|
|
|
MDCO
13
DELISTED
Medicines Co
MDCO
| $26.7M | 1.97% |
731,600
-217,200
| -23% | -$7.09M |
2017 Q4
6 quarters
|
|
14
EchoStar
ECHO
$26.2B
| $26.2M | 1.94% |
730,651
-9,749
| -1% | -$325K |
2018 Q4
2 quarters
|
|
|
15
Dillards
DDS
$9.41B
| $24.9M | 1.84% |
+400,000
| New | +$25.7M |
2019 Q2
0 quarters
|
|
|
16
Openlane
OPLN
$4.33B
| $22.1M | 1.63% |
+885,000
| New | +$19.1M |
2019 Q2
0 quarters
|
|
|
17
Core Natural Resources Inc
CNR
$3.73B
| $18M | 1.33% |
676,882
+336,882
| +99% | +$10.1M |
2018 Q4
2 quarters
|
|
18
DELISTED
Exela Technologies, Inc. Common Stock
XELA
| $17.6M | 1.3% |
669
| – | – |
2017 Q3
7 quarters
|
|
|
19
Voya Financial
VOYA
$8.79B
| $17.4M | 1.29% |
315,446
-421,000
| -57% | -$22.6M |
2013 Q2
24 quarters
|
|
|
TGP
20
DELISTED
Teekay LNG Partners L.P.
TGP
| $12M | 0.88% |
849,274
+349,274
| +70% | +$4.98M |
2019 Q1
1 quarter
|
|
|
ESV
21
DELISTED
Ensco Rowan plc
ESV
| $11.6M | 0.86% |
1,362,200
-2,417,800
| -64% | -$27.9M |
2017 Q4
6 quarters
|
|
22
Cars.com
CARS
$726M
| $4.12M | 0.3% |
+208,900
| New | +$4.47M |
2019 Q2
0 quarters
|
|
23
DELISTED
Seadrill Limited Common Stock
SDRL
| – | – |
-1,046,800
| Closed | -$8.7M | – |
|
Similar funds
David Einhorn's Q2 2019 Portfolio in Review
As of Q2 2019, David Einhorn held 23 positions worth $1.36B, down 3.7% from $1.41B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
David Einhorn withdrew a net $53.6M in Q2 2019, closing 1 position and reducing 9 holdings. Its most notable exit was Seadrill Limited Common Stock, an estimated $8.7M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 46% of assets, down from 46% a quarter earlier, followed by Industrials and Energy.
Against the trend, David Einhorn opened a new position in Chemours worth $89.3M.
- David Einhorn's largest Q2 2019 buy was Chemours: 3,721,823 shares worth $89.3M.
- David Einhorn added most to Core Natural Resources Inc in Q2 2019, an estimated $10.1M increase.
- David Einhorn's biggest Q2 2019 reduction was General Motors, cutting an estimated $122M.
- David Einhorn fully exited Seadrill Limited Common Stock in Q2 2019, selling an estimated $8.7M.
- David Einhorn's ten largest holdings make up 82% of its $1.36B portfolio in Q2 2019.
- David Einhorn opened 5 new positions and closed 1 in Q2 2019.
- David Einhorn's portfolio value fell 3.7% quarter-over-quarter to $1.36B.
Based on Greenlight Capital's 13F filing for Q2 2019, filed 14 Aug 2019.