David Einhorn's Greenlight Capital returned -2.9% in the second quarter of 2021 compared to 8.5% for the S&P 500. According to a copy of the fund's letter, which ValueWalk has reviewed, longs contributed 5.2% in the quarter while short positions detracted 4.6%.
Q2 2021 hedge fund letters, conferences and more
Macro positions detracted 3.3% from performance during the quarter. The fund's average exposure throughout the quarter was 127% long and 68% short.
Greenlight's relatively poor performance in the second quarter followed a 0.1% decline in the first quarter. In the first quarter, Greenlight had average long exposure of 118% and short exposure of 81%.
The most significant holdings at the end of the first quarter were, in no particular order, Atlas...
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