15 Feb Here are David Einhorn’s top holdings that helped propel one of Greenlight’s best years
Greenlight Capital’s David Einhorn just scored one of his best years ever as the value investor took advantage of the extreme market volatility. Here’s a look at his top holdings, according to a new regulatory filing. The star hedge fund manager previously said his fund rallied 36.6% in 2022, massively outperforming the S & P 500 , which suffered a 19.4% loss. Einhorn called 2022 “an exceptionally good year.” At the end of 2022, Green Brick Partners and Brighthouse Financial — two inflation plays he’s held for a few years — remained Einhorn’s top two holdings. Last quarter, Greenlight increased its stake in Kyndryl, an information-technology services company that was spun off from IBM, making the stock its fifth biggest holding. The stock fell 38% last year, but it has already rebounded more than 50% in 2023. CONSOL Energy and Teck Resources were also among Einhorn’s biggest stakes at the end of 2022. He previously said these two stocks were some of his biggest winners on the long side. CONSOL Energy rallied 186% in 2022, while Teck Resources gained 40%. Einhorn previously revealed that he established a new medium-sized long position in hospitals and ambulatory surgery centers operator Tenet Healthcare during the fourth quarter. He said a Covid-driven sell-off had created an attractive opportunity to participate in the company’s transformation. The filing showed the manager also bought small stakes in biotech name Coya Therapeutics and Gulfport Energy last year. Einhorn revealed previously that his stellar performance last year was partly driven by his short position in a slew of innovative technology stocks like those touted by growth investor Cathie Wood.