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Assessing David Einhorn and Greenlight Capital’s 4Q13 positions

Smita Nair

Greenlight Capital's fourth quarter positions (Part 1 of 8)

David Einhorn and Greenlight Capital

Last month, we discussed David Einhorn and Greenlight Capital’s fourth quarter letter to investors, which said the fund has incorporated several long ideas to the portfolio, including a large position in Micron Technology (MU) and medium-sized positions in BP PLC (BP) and Anadarko Petroleum (APC). The exact sizes of the positions weren’t disclosed. You can find the article here.

Einhorn’s recent 13F filing reveals the size of these positions as well as other new positions added during the fourth quarter. In this series, we’ll go through some of the other main positions Greenlight Capital traded this past quarter.

The letter said Greenlight Capital funds returned 6.5% net of fees and expenses in the fourth quarter of 2013, bringing the full-year net return to 19.1%. Since its inception in May 1996, Greenlight Capital has returned 2,211% cumulatively or 19.5% annualized, both net of fees and expenses.

Continue to Part 2

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