Greenlight Up 19.6% In 2013

Jan 6 2014 | 1:22pm ET

Greenlight Capital returned nearly 20% last year, according to its reinsurance business.

Greenlight Capital Re, which invests its premiums with the hedge fund, said that its namesake returned 19.6% last year after a 0.6% rise in December. Greenlight managed the strong returns in spite of a large short book in the face of surging equities markets and a big position in gold.

Firm founder David Einhorn's long bets more than made up for it, however. Greenlight's largest position, in General Motors, returned 46% this year. Other top-five holdings, including Vodafone Group and Marvell Technology Group, rewarded Einhorn with double- and triple-digit returns.

Einhorn also avoided losses by slashing his gold investments, once among his top-five holdings. Gold suffered its worst year in decades in 2013, losing 28%.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel Supports Manhattan Real Estate With Record Deal

Sep 16 2015 | 3:04pm ET

Never count hedge funds out of a big property deal. The Manhattan real estate market...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note

Upcoming Events