Greenlight Capital was up 13.8% in 2019, underperforming the S&P 500's 31.5% gain. According to the fund's fourth-quarter letter to investors, which was reviewed by ValueWalk, the short portfolio lost 20.1%, while the macro holdings added 1.5% to returns before fees. Their shorts went up a little less than the market but remained a sore spot for Greenlight.
The fund highlighted its 10 top positions during the fourth quarter, three of which were shorts.
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