David Einhorn's fund got crushed in August
Thomson Reuters
When he talks about a company, the stock moves, or get "Einhorned."
But the founder of the $11 billion fund is having a tough run.
Dealbook's Alexandra Stevenson and Matthew Goldstein report that Einhorn's fund went into August down about 9% for the year.
During a volatile month, his fund fell 5.3%, bringing his fund down about 14% for the year.
According to the fund's second quarter investor update, Greenlight's biggest holdings had been Apple, CONSOL Energy, General Motors, gold, Micron Technology and SunEdison.
Five of the six holdings were in negative territory in August.
Here's a quick rundown. (Note: The number of shares indicates how many the fund owned during the second quarter ended June 30. It's possible that Einhorn could have traded in or out of these positions.)
- Apple (AAPL) 7,382,571 shares: -7.04%
- CONSOL Energy (CNX) 22,840,486 shares: -7.81%
- General Motors (GM) 14,645,763 shares: -6.57%
- Gold: +3.6%
- Micron Technology (MU) 37,949,546 shares: -11.35%
- SunEdison (SUNE) 24,844,588 shares: -55.33%
Einhorn isn't the only major hedge fund manager to have faltered in what was a volatile month for the markets.
Pershing Square Holdings, the publicly traded vehicle led by Bill Ackman, wiped out all of its gains for the year and fell into the red. According to an update, the fund fell 13.1% in the month was last down 4.3% for the year as of Tuesday of last week.
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