Greenlight Masters, the fund of funds managed by David Einhorn, returned 26.2% net of fees in 2020, outperforming the S&P 500, which returned 18.4% throughout the year.
Q4 2020 hedge fund letters, conferences and more
According to a copy of the firm's letter, which ValueWalk has been able to review, the dispersion of returns in the portfolio of hedge funds was vast, replicating a pattern seen across the rest of the hedge fund industry in 2020.
Up 270% On Revenue Share Fund
The letter noted that four managers in the portfolio lost money last year, including one who reported a loss of -40%.
However, 14 managers generated a positive performance, with returns ranging as high as 266%.
Thanks to favorable arrangements with several investee funds, the letter noted, the performance was improved by an estimated 11%.
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