Greenlight Capital

Q4 2020 13F · by David Einhorn, portfolio manager

As of: Dec 31, 2020
Filed: Feb 16, 2021
US stock: $1.6B · prev $1.2B
Positions: 35 · prev 35
Options notional: $23M
Documents: 1· no amendments

Picture98.6% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 98.6%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 1.4%
Calls at notional value 0.0%

Moves34 since the prior filing

+11.9 pp in · −11.8 pp out

New 10 +11.26 pp
Added 5 +0.63 pp
Trimmed 9 −6.83 pp
Exited 10 −4.94 pp

The book

Very concentrated · behaves like 7 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 34% a year, about 2.9 years per position

Low
Moderate
High

Top 5 positions60% of US stock

GRBK Green Brick Partners, Inc held held33.8%
BHF Brighthouse Financial, Inc. held held8.0%
AER Aercap Holdings N.V. trimmed+0.19 pp trimmed+0.196.5%
AAWW Atlas Air Worldwide Holdings, Inc. added−1.82 pp added−1.825.8%
CHNG Change Healthcare Inc. trimmed−0.83 pp trimmed−0.835.5%

Positions35 in this filing · 10 exited


GRBKGreen Brick Partners, Inc	33.77%	24,118,668	$554M	held	—	13 q
BHFBrighthouse Financial, Inc.	8.04%	3,640,332	$132M	held	—	13 q
AERAercap Holdings N.V.	6.46%	2,322,890	$106M	trimmed−23%	+0.19 pp	13 q
AAWWAtlas Air Worldwide Holdings, Inc.	5.75%	1,728,102	$94M	added+15%	−1.82 pp	3 q
CHNGChange Healthcare Inc.	5.51%	4,843,005	$90M	trimmed−9%	−0.83 pp	4 q
GLDSPDR Gold Trust, SPDR Gold Shares	4.00%	367,850	$66M	trimmed−3%	−1.54 pp	3 q
CCThe Chemours Company	3.93%	2,597,249	$64M	trimmed−15%	−1.33 pp	7 q
TECKTeck Resources Limited	3.45%	3,119,330	$57M	added+38%	+0.85 pp	3 q
REZIResideo Technologies, Inc.	3.37%	2,600,300	$55M	added+20%	+1.40 pp	3 q
unresolvedDanimer Scientific Inc	2.47%	1,725,500	$41M	new	+2.47 pp	new
VYXNCR Voyix Corporation	2.35%	1,026,147	$39M	trimmed−27%	−0.22 pp	2 q
GDXVanEck Gold Miners ETF	2.13%	969,100	$35M	held	—	3 q
CNXCNX Resources Corporation	2.11%	3,209,685	$35M	added+14%	−0.08 pp	13 q
FUBOFuboTV Inc.	2.08%	1,217,872	$34M	new	+2.08 pp	new
CNXCConcentrix Corporation	2.02%	334,882	$33M	new	+2.02 pp	new
CEIXCore Natural Resources, Inc.	1.76%	4,006,560	$29M	new	+1.76 pp	new
TWTRTwitter, Inc.	1.61%	487,500	$26M	held	—	2 q
CCKCrown Holdings Inc.	1.29%	211,390	$21M	trimmed−1%	−0.07 pp	4 q
SNXTD SYNNEX Corporation	0.99%	199,753	$16M	trimmed−27%	−2.17 pp	2 q
DDSDillard's, Inc. Class A	0.88%	230,134	$15M	added+15%	+0.28 pp	2 q
ADTADT Inc.	0.86%	1,806,800	$14M	new	+0.86 pp	new
unresolvedNeubase Therapeutics Inc	0.86%	2,027,027	$14M	held	—	6 q
CLOVClover Health Investments, Corp	0.72%	700,000	$12M	new	+0.72 pp	new
APGAPi Group Corporation	0.71%	641,070	$12M	held	—	3 q
JACKJack in the Box Inc.	0.68%	121,000	$11M	trimmed−40%	−0.64 pp	3 q
ECHOEchoStar Corporation	0.65%	500,040	$11M	new	+0.65 pp	new
SONOSonos, Inc.	0.52%	364,000	$9M	new	+0.52 pp	new
UHALU-Haul Holding Company	0.40%	14,439	$7M	held	—	2 q
unresolvedPanacea Acquisition Corp	0.21%	300,000	$4M	held	—	2 q
unresolvedAequi Acquisition Corp	0.12%	200,000	$2M	new	+0.12 pp	new
ICPTIntercept Pharmaceuticals, Inc.	0.12%	81,856	$2M	trimmed−18%	−0.22 pp	2 q
MNOVMedicinova, Inc.	0.06%	185,000	$974,000	held	—	2 q
unresolvedNew Providence Acquisition	0.06%	70,000	$950,000	new	+0.06 pp	new
RTP.UReinvent Technology Partners	0.04%	50,000	$612,000	held	—	2 q
unresolvedPanacea Acquisition Corp	0.02%	100,000	$320,000	held	—	2 q
CCRConsol Coal Resources LP	—	−5,488,438	—	exited	−1.51 pp	—
INTCIntel Corp	—	−300,000	—	exited	−1.28 pp	—
INGRIngredion Incorporated	—	−164,700	—	exited	−1.03 pp	—
PVHPVH Corp.	—	−73,600	—	exited	−0.36 pp	—
GHCGraham Holdings Company	—	−8,500	—	exited	−0.28 pp	—
AORTArtivion, Inc.	—	−100,527	—	exited	−0.15 pp	—
KWKennedy-wilson Holdings, Inc.	—	−125,000	—	exited	−0.15 pp	—
unresolvedVapotherm Inc	—	−50,000	—	exited	−0.12 pp	—
unresolvedAmarin Corp PLC	—	−100,000	—	exited	−0.03 pp	—
GPORGulfport Energy Corporation	—	−653,951	—	exited	−0.03 pp	—