David Einhorn's hedge fund Greenlight Capital is out with its second quarter letter. Greenlight returned (1.5)% in Q2 and year-to-date is (3.3)%. Their average exposure was 103% long and 86% short, leaving them net long only 17%. The letter details numerous recent portfolio moves:
New long positions: Applied Materials (AMAT), Bank of New York Mellon (BK), CNX Coal Resources (CNXC)
Sold long positions: Altice (AMS:ATC), Conn's (CONN), EMC (EMC), Marvell Technology (MRVL), Nokia (NOK), Playtech (LON:PTEC)
Covered shorts: Intuitive Surgical (ISRG), Vale (VALE)
Einhorn talks about all of the positions in the letter and also gives commentary on Micron (MU), one of his biggest positions that has sold-off recently.
At the end of Q2, Greenlight's largest positions in alphabetical order were: Apple (AAPL), CONSOL Energy (CNX), General Motors (GM), gold, Micron Technology (MU), and SunEdison (SUNE).
Embedded below is Greenlight's Q2 letter:
ValueWalk first posted the letter.
