Greenlight Capital
David Einhorn · New York, NY · Founded 1996
Greenlight Capital is a New York value-oriented hedge fund founded in 1996 by David Einhorn. It runs long/short equity with a deep-value, contrarian bent and a history of high-profile short calls — most famously a public short of Lehman Brothers ahead of its 2008 collapse, and an earlier campaign against Allied Capital.
Einhorn, also well known in the poker world, invests with a strong emphasis on valuation and downside protection. These filings come through Greenlight's management entity DME Capital Management and cover its US-listed long equity positions.
History
David Einhorn starts the value-driven long/short fund with about $1 million.
Einhorn publicly questions Lehman Brothers' accounting months before its collapse, a landmark short call.
After a lean stretch, Greenlight's classic value approach comes back into favor.
2026 Q2 holdings
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Green Brick Partners Inc | COM | $757.8M | 9.5M | 19.4% | HOLD |
| 2 | Fluor Corp | COM | $244.1M | 4.7M | 6.2% | TRIM |
| 3 | Core Natural Resources Inc | COM SHS | $182.7M | 2.3M | 4.7% | ADD |
| 4 | Brighthouse Finl Inc | COM | $179.9M | 2.8M | 4.6% | HOLD |
| 5 | Acadia Healthcare Company In | COM | $130.0M | 4.4M | 3.3% | TRIM |
| 6 | Penn Entertainment Inc | COM | $125.2M | 5.9M | 3.2% | TRIM |
| 7 | Fortune Brands Innovations I | COM | $123.1M | 2.2M | 3.1% | NEW |
| 8 | Pg&e Corp | COM | $111.6M | 6.6M | 2.9% | HOLD |
| 9 | Centene Corp Del | COM | $106.0M | 1.7M | 2.7% | TRIM |
| 10 | Graphic Packaging Hldg Co | COM | $105.2M | 10.0M | 2.7% | ADD |
| 11 | Td Synnex Corporation | COM | $101.9M | 381K | 2.6% | TRIM |
| 12 | Teva Pharmaceutical Inds Ltd | SPONSORED ADS | $97.8M | 2.9M | 2.5% | TRIM |
| 13 | Versigent Plc | ORDINARY SHARES | $95.7M | 2.3M | 2.4% | NEW |
| 14 | Capri Holdings Limited | SHS | $89.5M | 4.8M | 2.3% | TRIM |
| 15 | Bkv Corp | COM | $84.7M | 3.1M | 2.2% | ADD |
| 16 | Dht Holdings Inc | SHS NEW | $83.2M | 5.0M | 2.1% | TRIM |
| 17 | Crocs Inc | COM | $80.7M | 669K | 2.1% | HOLD |
| 18 | Roivant Sciences Ltd | SHS | $76.2M | 2.2M | 1.9% | HOLD |
| 19 | Sotera Health Co | COM | $73.4M | 4.1M | 1.9% | ADD |
| 20 | Versant Media Group Inc | COM CL A | $69.2M | 1.9M | 1.8% | TRIM |
| 21 | Primo Brands Corporation | CLASS A COM SHS | $69.0M | 2.8M | 1.8% | NEW |
| 22 | Dauch Corp | COM | $67.2M | 12.4M | 1.7% | ADD |
| 23 | PYPLPayPal Holdings, Inc.★ | COM | $61.5M | 1.4M | 1.6% | NEW |
| 24 | Schein Henry Inc | COM | $60.0M | 719K | 1.5% | ADD |
| 25 | Warner Bros Discovery Inc | COM SER A | $59.9M | 2.2M | 1.5% | NEW |
| 26 | Liberty Global Ltd | COM CL A | $56.4M | 5.0M | 1.4% | HOLD |
| 27 | Antero Resources Corp | COM | $55.3M | 1.6M | 1.4% | ADD |
| 28 | Stubhub Hldgs Inc | CL A | $54.5M | 4.2M | 1.4% | HOLD |
| 29 | Resideo Technologies Inc | COM | $52.9M | 1.7M | 1.4% | ADD |
| 30 | Deckers Outdoor Corp | COM | $50.3M | 506K | 1.3% | ADD |
| 31 | Spectrum Brands Holdings Inc | COM | $48.1M | 561K | 1.2% | TRIM |
| 32 | Cnh Indl N V | SHS | $47.0M | 4.2M | 1.2% | HOLD |
| 33 | Viatris Inc | COM | $44.0M | 2.8M | 1.1% | ADD |
| 34 | Paramount Skydance Corp | COM CL B | $38.7M | 3.9M | 1.0% | HOLD |
| 35 | Pvh Corporation | COM | $38.7M | 521K | 1.0% | NEW |
| 36 | Comcast Corp New | CL A | $33.0M | 1.3M | 0.8% | NEW |
| 37 | Slide Ins Hldgs Inc | COM | $32.7M | 1.7M | 0.8% | HOLD |
| 38 | Tripadvisor Inc | COM | $32.4M | 2.4M | 0.8% | ADD |
| 39 | Spdr Gold Tr | GOLD SHS | $30.7M | 83K | 0.8% | TRIM |
| 40 | The Cigna Group | COM | $24.4M | 88K | 0.6% | HOLD |
| 41 | Lakefront Biotherapeutics Nv | SPON ADR | $14.5M | 483K | 0.4% | HOLD |
| 42 | Coya Therapeutics Inc | COMMON STOCK | $13.7M | 2.3M | 0.3% | HOLD |
| 43 | Immunovant Inc | COM | $3.6M | 94K | 0.1% | HOLD |
| 44 | Gopro Inc | CL A | $1.3M | 1.7M | 0.0% | HOLD |
| 45 | Gain Therapeutics Inc | COM | $1.1M | 566K | 0.0% | HOLD |
| 46 | Nuvation Bio Inc | COM CL A | $199K | 35K | 0.0% | HOLD |
Notable 2026 Q2 moves
New positions
- Fortune Brands Innovations I $123.1M
- Versigent Plc $95.7M
- Primo Brands Corporation $69.0M
- PYPL PayPal Holdings, Inc. $61.5M
- Warner Bros Discovery Inc $59.9M
- Pvh Corporation $38.7M
- Comcast Corp New $33.0M
Exited
- Victorias Secret And Co was $104.6M
- Slm Corp was $45.0M
- Peloton Interactive Inc was $43.4M
- Weatherford Intl Plc was $13.8M
- Zim Integrated Shipping Serv was $9.3M
- Katapult Holdings Inc was $603
Position history in tracked names
Quarter-end value of each holding that has a page on R40, most recent first.
| Stock | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|
| PYPLPaypal Hldgs Inc | $61.5M | — | — | — |