Photo: Screenshot from CNBC
Billionaire hedge fund hot-shot David Einhorn, the founder of Greenlight Capital who is famous for publicly shorting Lehman Brothers before the bank’s demise, disclosed the fund’s latest moves in a letter to investors. Here’s a round up:
- “Some of the biggest winners from the first quarter, including Arkema (France: AKE), General Motors (GM) and our Yen position, were among our biggest losers in the second quarter,” the letter said.
- Marvell Technology was another “significant loser” for Greenlight, according to the letter.
- “Most of our gains in the quarter came from the short portfolio. The biggest winner was Green Mountain Coffee Roasters (GMCR), which fell from $46.84 to $21.78 per share,” the Greenlight investor letter said. Greenlight added that two other undisclosed short positions “made material contributions” during the quarter.
- Greenlight exited Best Buy (BBY) with a loss, according to the letter.
- CNBC Tweeted that Greenlight has taken new positions in Cigna and Coventry Health. CNBC’s Bertha Coombs also Tweeted that Einhorn says they don’t have exposure to the euro crisis.
- CNBC also notes that Einhorn’s fund disclosed its largest long positions in Apple, GM, gold, Marvell and Seagate.
- Meanwhile, Zerohedge Tweeted that Einhorn has sold out of Dell saying it was a disappointment. The letter said Greenlight exited with a loss.