David Einhorn
Greenlight Capital
Profile & Investment Philosophy
David Einhorn, founder of Greenlight Capital, is one of the most rigorous fundamental analysts on Wall Street, equally known for his long value investments and his forensic short-selling research. His philosophy is built on a single premise: understanding a business better than the market does — whether to identify an undervalued long or a fraudulent or overvalued short. Einhorn's long philosophy follows classic deep value principles: buying businesses trading significantly below intrinsic value with identifiable catalysts, preferring companies with strong balance sheets and predictable cash flows. His short-selling is what has earned him particular notoriety. Einhorn pioneered the practice of "short selling with research" — spending months analyzing financial statements before publicly presenting his case. His 2008 presentation on Lehman Brothers, in which he warned of the bank's precarious balance sheet, is a landmark of institutional research. Einhorn has been a vocal critic of central bank intervention, arguing that artificially low rates have distorted value investing conditions. His portfolio includes gold as a hedge against monetary debasement and concentrated equity positions. Einhorn's philosophy teaches that the most durable edge in investing comes from doing the analytical work that others are unwilling or unable to perform.
Current Portfolio
LATEST 13FLatest SEC Form 13F filing. Total portfolio value: $2.4B. Holdings: 30 positions.
| Ticker / Security | Shares | Δ vs Prev | Value | Portfolio % |
|---|---|---|---|---|
| GRBK Green Brick Partners, Inc. | 11.40 | -7.60% | $592,370,000 | 28.92% |
| CEIX CONSOL Energy Inc. | 2.11 | -12.42% | $211,670,000 | 10.34% |
| BHF Brighthouse Financial, Inc. | 3.04 | -3.15% | $161,070,000 | 7.86% |
| KD Kyndryl Holdings, Inc. | 6.36 | +13.74% | $132,080,000 | 6.45% |
| THC Tenet Healthcare Corporation | 1.32 | +44.33% | $99,450,000 | 4.86% |
| ODP The ODP Corporation | 1.75 | +8.29% | $98,420,000 | 4.81% |
| ALIT Alight, Inc. | 9.24 | NEW | $78,830,000 | 3.85% |
| GLD SPDR Gold Shares | 0.39 | -10.27% | $73,970,000 | 3.61% |
| TECK.B Teck Resources Limited | 1.55 | +6.17% | $65,610,000 | 3.20% |
| LIVN LivaNova PLC | 1.23 | +3.54% | $63,600,000 | 3.11% |
SOURCE: SEC Form 13F. See the live BMI Smart Money Tracker.