A lot has happened again in David Einhorn’s Greenlight Capital portfolio in the first quarter of 2026. These are his ten largest holdings.
The renowned value investor David Einhorn and his investment company Greenlight Capital (DME Capital Management, LP) made significant changes to his US stock portfolio in the first quarter of 2026. In total, the hedge fund managed 13F securities with a total value of $3.19 billion as of the reporting date. While the concentration at the top remained high as usual – the ten largest positions made up an impressive 57.11 percent of the entire portfolio – Einhorn was extremely active in the deeper portfolio regions.
Radical restructuring in the media sector: Einhorn completely separates itself from Warner Bros. Discovery and TKO Group
There were particularly high-profile movements in the media sector. Einhorn actively adjusted its bets in this segment and completely divested itself of its position in the industry group Warner Bros. Discovery in the first quarter by liquidating all remaining 1,533,080 shares. At the same time, the value investor showed courage for real turnaround stories and celebrated a much-noticed comeback with a former pandemic high-flyer: Greenlight Capital made a massive investment in the fitness brand Peloton, buying 9,867,480 shares straight away and thus expanding its stake by an astronomical 4,003 percent. However, it was still not enough for the top 10, which are presented in the following ranking.
Alexandra Hesse, editorial team at finanzen.net
11th place: The ranking
In the first quarter of 2026, star investor David Einhorn’s investment company Greenlight Capital (DME Capital Management, LP) managed assets of around $3.19 billion. Like all institutional investors with capital under management of over $100 million, Greenlight Capital is required to regularly disclose its holdings to the US Securities and Exchange Commission (SEC). The following list shows the ten largest positions in David Einhorn’s portfolio as of March 31, 2026, ordered by their percentage share of total assets.
Source: sec.gov, Image: Paul Bereswill/Getty Images
10th place: PENN Entertainment
The gaming and entertainment group PENN Entertainment takes tenth place. David Einhorn held back in the first quarter; the position remained completely unchanged at 6,044,440 shares. At the end of the quarter, the rounded market value of the shares was $90.85 million, which corresponded to 2.85 percent of the total portfolio.
Source: sec.gov, Image: rafapress / Shutterstock.com
9th place: DHT Holdings
The tanker shipping company DHT Holdings took profits in the first quarter. Greenlight Capital drastically reduced its holdings by 2,093,894 papers – a decrease of 28.42 percent. The remaining 5,272,770 shares had a market value of $96.33 million (3.02 percent of the portfolio).
Source: sec.gov, symbolic image: Maksims Osobenkovs / Shutterstock.com
8th place: Victoria’s Secret & Co.
Einhorn, on the other hand, made a strong purchase in the fashion brand Victoria’s Secret & Co. The position was expanded by 519,020 shares, which corresponded to a significant increase of 29.87 percent. The package of 2,256,889 papers had a value of 104.63 million US dollars (3.28 percent portfolio share) as of the reporting date.
Source: sec.gov, Image: Bandersnatch / Shutterstock.com
7th place: Acadia Healthcare
The value investor also added value to the US healthcare provider Acadia Healthcare. A purchase of 397,178 shares (+9.64 percent) increased the total holdings to 4,518,381 shares. With a market value of $105.68 million, they secured a portfolio share of 3.31 percent.
Source: sec.gov, Image: Casimiro PT / Shutterstock.com
6th place: Versant Media
A real bang at number 6: This was a brand new entry in Greenlight Capital’s portfolio. Einhorn purchased a total of 3,028,615 shares of Versant Media during the first quarter. The position immediately reached a market value of $112.12 million and immediately claimed a portfolio share of 3.51 percent.
Source: sec.gov, symbolic image: Gaurav Paswan / Shutterstock.com
5th place: PG&E
The top half of the top 10 was opened by Californian energy supplier PG&E Corp. Here Einhorn pocketed partial profits and sold 1,151,251 shares (-14.79 percent). The remaining 6,632,852 shares in the portfolio were worth around $116.54 million as of the reporting date and made up 3.65 percent of the portfolio.
Source: sec.gov, Image: Sundry Photography / Shutterstock.com
4th place: Brighthouse Financial
The US life insurance company Brighthouse Financial narrowly missed the podium. The position was rounded up slightly through a small purchase of 50,000 securities (+1.79 percent). At the end of the quarter, Greenlight held 2,842,100 shares worth $170.18 million (5.33 percent portfolio share).
Source: sec.gov, Image: madamF / Shutterstock.com
3rd place: Core Natural Resources
The bronze medal went to the coal and energy company Core Natural Resources (formed from the major merger of Arch Resources and Consol Energy). Einhorn reduced the holding by 242,340 papers (-11.54 percent). The 1,858,140 shares remaining in the portfolio had a proud market value of $194.60 million, which made up 6.10 percent of the portfolio.
Source: sec.gov, symbolic image: Sally Wallis / Shutterstock.com
2nd place: Fluor
The US plant and infrastructure manufacturer Fluor Corp secured second place. Despite a reduction in exposure by 808,550 shares (-14.55 percent), the position remained a significant heavyweight in the unicorn empire. The 4,747,350 securities held had a total value of $221.46 million (6.94 percent portfolio share) at the end of the quarter.
Source: sec.gov, Image: Piotr Swat / Shutterstock.com
1st place: Green Brick Partners
Green Brick Partners continued to hold the undisputed and lonely top position in Greenlight Capital’s portfolio. Einhorn did not change the position in the first quarter and firmly held on to his 9,467,383 shares in the construction and real estate company. With an astronomical market value of $610.17 million, this single asset accounted for a gigantic 19.12 percent of the entire US portfolio.
Source: sec.gov, Image: MacroEcon / Shutterstock.com
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