What Was David Einhorn’s Largest Holding in 2Q17?
David Einhorn’s largest holding
Activist investor David Einhorn is well known for his investment strategy. He is a strong believer in value investing. The billionaire hedge fund manager made huge profits by betting against US oil (USO) drillers in the first half of 2016. His short position in US oil drillers proved to pay off.
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In various investment conferences, he has spoken about his optimistic view on General Motors (GM). GM was the top holding of David Einhorn’s Greenlight Capital in 2Q17.
According to the 13F filings, the top holdings of Greenlight Capital were General Motors (GM), AerCap Holdings (AER), Apple (AAPL), Mylan (MYL), and CONSOL Energy (CNX) as of June 30, 2017. These stocks represent nearly 30.9%, 9.3%, 9.1%, 6.7%, and 5.5%, respectively, of Greenlight Capital’s holdings.
Greenlight Capital’s performance
Overall, Greenlight Capital returned 3.3% in the first three quarters of 2017. In 3Q17, the firm returned nearly 6.2%. Einhorn’s short positions in Amazon and Tesla are getting pricey and are affecting the overall performance of Greenlight Capital.
You may be interested to read, Leon Cooperman: The Market’s Not Cheap, but It’s Not Expensive.