Top investor David Einhorn bets on both rising and falling share prices. In the 2008 financial crisis, he thus profited from the demise of the U.S. investment bank Lehman Brothers.
Since founding his hedge fund Greenlight Capital in 1996, he has achieved outstanding returns for his investors over many years, significantly outperforming the market. Recently, however, things have not been going quite so smoothly. It has had a dry spell since 2012, lagging the broad S&P 500 index.
Today, I’d like to share with you the current top 5 stock positions held by successful hedge fund manager David Einhorn. Here’s the full rundown of Greenlight Capital’s top 5 positions:
Green Brick Partners (NYSE:GBRK)
The largest position is Green Brick Partners stock with a portfolio weighting of 24%. Einhorn holds just over $360 million worth of Green Brick Partners stock. The hedge fund manager left the position unchanged last quarter. The company develops land and real estate in Texas, Georgia, Colorado and Florida.
Brighthouse Financial (NASDAQ:BHF)
The second-largest holding is shares of U.S.-based Brighthouse Financial. Most recently, Einhorn has continued to build the position (+7.6% in the last quarter). The equity position currently accounts for 11.9% of the portfolio. In total, Einhorn has invested about $177 million in the company. As a result, he holds 4.91% of all outstanding shares of Brighthouse Financial. Brighthouse Financial was spun off completely from Metlife in 2017 and is one of the largest providers of life insurance in the US.
Atlas Air Worldwide Holdings (NASDAQ:AAWW)
The third-largest position is Atlas Air Worldwide Holdings stock, with a portfolio weighting of 8.30%. Einhorn holds shares worth just over $123 million. Compared to the previous quarter, the fund manager has left his investment unchanged. The company provides outsourced cargo and passenger aircraft operations solutions, including contractual service arrangements such as aircraft staging, as well as value-added services such as crewing, maintenance and insurance for aircraft and other customers.
Teck Resources (NYSE:TECK)
The fourth-largest position in Einhorn’s portfolio is Teck Resources stock. After acquisitions (up 11.9% last quarter), the $112 million position accounts for about 7.5% of its total portfolio. Teck Resources is engaged in the acquisition, development and extraction of natural resources in Asia, Europe and North America. The company operates in the steel, coal, copper, zinc and energy segments.
Change Healthcare (NASDAQ:CHNG)
The fifth-largest position is shares of Change Healthcare, in which Einhorn has invested $75 million. The stock represents a weighting of about 5% of Einhorn’s total portfolio. Last quarter, Einhorn added slightly to the position again (+3.93%).
Of course, blindly following any single major investor is certainly not advisable. However I hope you can gain some insight by looking over this hedge fund managers current top stocks.