Great investors · David Einhorn · Q1 2025
What David Einhorn bought and sold in Q1 2025
Greenlight Capital (DME Capital Management) 13F portfolio as of Mar 31, 2025: 33 positions worth $2.0 bn. Largest: GRBK, CNR, BHF, KD. Filed with the SEC on May 15, 2025.
The 13F is filed by Greenlight Capital (DME Capital Management), not by David Einhorn personally: these are the whole firm's positions. A “position” is a distinct security in the filing (by CUSIP); share classes of the same company are shown added together.
Buys in Q1 2025
- IncreasedTECK ResourcesTECK+1.7 pp
- NewDollar TreeDLTR+1.7 pp
- IncreasedCapri HoldingsCPRI+1.4 pp
- IncreasedHPHPQ+1.3 pp
- IncreasedCore Natural ResourcesCNR+1.0 pp
- IncreasedSeadrillSDRL+1.0 pp
- IncreasedLiberty GlobalLBTYA+0.8 pp
- IncreasedDHT HoldingsDHT+0.7 pp
- IncreasedKyndryl HoldingsKD+0.6 pp
Sells in Q1 2025
- ReducedPeloton InteractivePTON−1.8 pp
- ReducedCNH IndustrialCNH−1.3 pp
- ReducedCenteneCNC−1.0 pp
- ReducedAlight, Inc. / DelawareALIT−0.7 pp
13 companies with material moves, out of 27 positions with a change. Only moves of 0.5 points of the portfolio or more are listed, measured as “traded weight” (what was bought or sold, excluding price effects). Smaller changes exist and are not listed: a position may have gone up or down without appearing above.
The full 13F, line by line
Greenlight Capital (DME Capital Management)'s Q1 2025 13F lists 33 lines of US-listed securities worth $2.0 bn; the largest is GRBK at 28.0% of the portfolio. It was accepted by the SEC on May 15, 2025 at 4:01 PM ET.
Against the previous quarter, it opened 1 position (DLTR), closed 4 (RSP, XRT, FCG and PDBC), added to 13 (TECK, CPRI, SDRL and HPQ and 9 more) and trimmed 9 (CNH, PTON, CNC and GLD and 5 more). 10 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Green Brick Partners GRBK | 9.5 M | $552M | 28.0% | no change |
| 2 | Core Natural Resources CNR | 2.2 M | $170M | 8.62% | +14% |
| 3 | Brighthouse Financial BHF | 2.8 M | $162M | 8.23% | −1.2% |
| 4 | Kyndryl Holdings KD | 4.1 M | $130M | 6.58% | +9.9% |
| 5 | PENN Entertainment PENN | 6.3 M | $102M | 5.18% | +9% |
| 6 | CNH Industrial CNH | 8.1 M | $99.2M | 5.02% | −21% |
| 7 | HP HPQ | 3.0 M | $83.6M | 4.23% | +43% |
| 8 | TECK Resources TECK | 2.0 M | $72.9M | 3.69% | +84% |
| 9 | DHT Holdings DHT | 6.6 M | $69.4M | 3.52% | +26% |
| 10 | Capri Holdings CPRI | 3.5 M | $68.6M | 3.48% | +65% |
| 11 | Liberty Global LBTYA | 5.2 M | $60.1M | 3.04% | +34% |
| 12 | Roivant Sciences ROIV | 5.4 M | $54.9M | 2.78% | +3.2% |
| 13 | Viatris VTRS | 6.0 M | $52.3M | 2.65% | +3.7% |
| 14 | SPDR Gold Shares ETF GLD | 180,151 | $51.9M | 2.63% | −11% |
| 15 | Seadrill SDRL | 1.6 M | $39.7M | 2.01% | +107% |
| 16 | Centene CNC | 547,570 | $33.2M | 1.68% | −37% |
| 17 | Dollar Tree DLTR | 436,360 | $32.8M | 1.66% | new |
| 18 | Peloton Interactive PTON | 5.0 M | $31.6M | 1.60% | −52% |
| 19 | Graphic Packaging Holding GPK | 1.0 M | $27.2M | 1.38% | no change |
| 20 | Weatherford International WFRD | 456,639 | $24.5M | 1.24% | no change |
| 21 | Lakefront Biotherapeutics LKFT | 482,746 | $12.1M | 0.61% | no change |
| 22 | Coya Therapeutics COYA | 1.6 M | $10.7M | 0.54% | no change |
| 23 | TEVA Pharmaceutical Industries TEVA | 568,200 | $8.7M | 0.44% | +21% |
| 24 | Alight, Inc. / Delaware ALIT | 1.0 M | $5.9M | 0.30% | −70% |
| 25 | TD Synnex SNX | 46,215 | $4.8M | 0.24% | −14% |
| 26 | Acadia Healthcare ACHC | 120,860 | $3.7M | 0.19% | −6% |
| 27 | Vaneck ETF Trust GDX | 76,460 | $3.5M | 0.18% | −31% |
| 28 | Vaneck ETF Trust OIH | 12,360 | $3.2M | 0.16% | +120% |
| 29 | GoPro GPRO | 2.8 M | $1.9M | 0.09% | no change |
| 30 | Gain Therapeutics GANX | 566,130 | $1.1M | 0.05% | no change |
| 31 | Nuvation Bio NUVB | 34,995 | $61.6K | 0.00% | no change |
| 32 | Nuvation Bio NUVB/WS | 100,000 | $32.0K | 0.00% | no change |
| 33 | Katapult Holdings | 262,227 | $2.3K | 0.00% | no change |
Positions it closed (4)
- Invesco Exchange Traded Fd T RSPwas 0.25% · 27,530 shares
- Spdr SER Tr XRTwas 0.24% · 59,810 shares
- First Tr Exchange-traded Fd FCGwas 0.09% · 70,830 shares
- Invesco Actvely Mngd ETC Fd PDBCwas 0.08% · 117,360 shares
One row per line of the filing (by CUSIP): share classes of the same company are listed separately here. “Change in shares” compares the count with the previous quarter, split-adjusted; the value is the one reported in the 13F at quarter end, not today's price.
Original documents: Greenlight Capital (DME Capital Management)'s 13F filings on EDGAR (SEC) ↗
Follow David Einhorn and see their Q3 2026 13F once it is filed
Free. We email you (if you turn it on) and in Following you see what each manager you follow bought and sold.
Source: 13F filings with the SEC. A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions. Not investment advice.