This move reflects Einhorn's strategic approach to portfolio management and his bullish outlook on the market. The decision to up the bets on these stocks indicates a positive sentiment towards their future performance and reinforces Greenlight Capital's commitment to maximizing returns for its investors. With Einhorn's expertise and track record in the financial industry, the market will be closely watching the impact of these increased investments on the overall portfolio performance.
David Einhorn's Greenlight Capital has bolstered its investments in two major stocks in the last quarter of the year.
Increased Stake in CNH Industrial
During the fourth quarter, the hedge fund augmented its position in the agricultural machinery company CNH Industrial by 44.2%, as reported in the latest 13F filing with the U.S. Securities and Exchange Commission.
Boosted Holding in Peloton
Additionally, Greenlight also raised its holding in the fitness company Peloton by 10.4%.
Top 10 Holdings
By the end of 2024, Greenlight's stake in CNH was valued at approximately $116 million, while the increase in Peloton amounted to a holding worth more than $91 million. This places both CNH and Peloton within Greenlight Capital's top 10 holdings for the period, with CNH as the fund's fifth largest holding and Peloton at the seventh largest.
Snapshot of Holdings
It's important to note that the 13F filing provides a snapshot of the fund's holdings as of Dec. 31 and does not reflect any trades made since then.
Recent Developments
In a previous statement at CNBC's Delivering Alpha conference in New York, Einhorn disclosed that he had initiated a medium-sized position in CNH. The investor had also previously held a $6.8 million stake in Peloton as of June 30.
Market Performance
Both CNH and Peloton have outperformed the broader market in the last six months, with CNH gaining 32.5% and Peloton soaring by 239.2%, while the S&P 500 rose by 12% over the same period.
Expansion into Energy Plays
Einhorn also expanded his stake in three energy companies—DHT Holdings, Weatherford International, and Seadrill. In the fourth quarter of 2024, Greenlight increased its holding in DHT by nearly 21% to about $49 million, raised its stake in Weatherford by over 157% to almost $33 million, and boosted its holding in Seadrill by nearly 28% to about $30 million.
New Position in Centene
In the healthcare sector, Einhorn initiated a position in Centene, which was valued at around $53 million. However, the stock has underperformed the market significantly in the past six months, declining by more than 26%.
