Great investors · David Einhorn · Q2 2025
What David Einhorn bought and sold in Q2 2025
Greenlight Capital (DME Capital Management) 13F portfolio as of Jun 30, 2025: 34 positions worth $2.3 bn. Largest: GRBK, FLR, CNR, BHF. Filed with the SEC on Aug 14, 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 Q2 2025
- NewFluorFLR+8.4 pp
- IncreasedGraphic Packaging HoldingGPK+3.3 pp
- IncreasedTEVA Pharmaceutical IndustriesTEVA+2.3 pp
- NewCigna GroupCI+1.3 pp
- IncreasedWeatherford InternationalWFRD+1.1 pp
- IncreasedPENN EntertainmentPENN+0.9 pp
- IncreasedAcadia HealthcareACHC+0.7 pp
- NewVictoria's SecretVSXY+0.7 pp
- IncreasedCenteneCNC+0.7 pp
Sells in Q2 2025
- Sold outViatrisVTRS−2.2 pp
- ReducedKyndryl HoldingsKD−1.5 pp
- Sold outDollar TreeDLTR−1.4 pp
- ReducedPeloton InteractivePTON−1.4 pp
13 companies with material moves, out of 23 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 Q2 2025 13F lists 34 lines of US-listed securities worth $2.3 bn; the largest is GRBK at 25.6% of the portfolio. It was accepted by the SEC on Aug 14, 2025 at 11:30 AM ET.
Against the previous quarter, it opened 4 positions (FLR, CI, VSXY and SHC), closed 3 (VTRS, DLTR and ALIT), added to 8 (TEVA, GPK, ACHC and WFRD and 4 more) and trimmed 8 (KD, ROIV, CNR and GLD and 4 more). 14 lines show the same number of shares.
| # | Company | Shares | Value | Weight | Change in shares |
|---|---|---|---|---|---|
| 1 | Green Brick Partners GRBK | 9.5 M | $595M | 25.6% | no change |
| 2 | Fluor FLR | 3.8 M | $196M | 8.42% | new |
| 3 | Core Natural Resources CNR | 2.2 M | $150M | 6.46% | −2.4% |
| 4 | Brighthouse Financial BHF | 2.8 M | $148M | 6.38% | −1.5% |
| 5 | Kyndryl Holdings KD | 3.3 M | $139M | 5.97% | −20% |
| 6 | PENN Entertainment PENN | 7.5 M | $134M | 5.76% | +20% |
| 7 | CNH Industrial CNH | 7.9 M | $102M | 4.39% | −2.5% |
| 8 | Graphic Packaging Holding GPK | 4.7 M | $99.2M | 4.26% | +349% |
| 9 | DHT Holdings DHT | 7.6 M | $82.4M | 3.54% | +15% |
| 10 | TECK Resources TECK | 2.0 M | $80.8M | 3.47% | no change |
| 11 | HP HPQ | 3.0 M | $73.8M | 3.17% | no change |
| 12 | TEVA Pharmaceutical Industries TEVA | 3.8 M | $63.3M | 2.72% | +565% |
| 13 | Capri Holdings CPRI | 3.5 M | $61.6M | 2.65% | no change |
| 14 | Liberty Global LBTYA | 5.2 M | $52.3M | 2.25% | no change |
| 15 | SPDR Gold Shares ETF GLD | 169,411 | $51.6M | 2.22% | −6% |
| 16 | Roivant Sciences ROIV | 4.6 M | $51.3M | 2.21% | −16% |
| 17 | Weatherford International WFRD | 960,810 | $48.3M | 2.08% | +110% |
| 18 | Centene CNC | 839,170 | $45.6M | 1.96% | +53% |
| 19 | Seadrill SDRL | 1.6 M | $41.7M | 1.79% | no change |
| 20 | Cigna Group CI | 93,750 | $31.0M | 1.33% | new |
| 21 | Acadia Healthcare ACHC | 865,011 | $19.6M | 0.84% | +616% |
| 22 | Victoria's Secret VSXY | 887,750 | $16.4M | 0.71% | new |
| 23 | Lakefront Biotherapeutics LKFT | 482,746 | $13.5M | 0.58% | no change |
| 24 | Coya Therapeutics COYA | 1.6 M | $9.5M | 0.41% | no change |
| 25 | TD Synnex SNX | 33,270 | $4.5M | 0.19% | −28% |
| 26 | Vaneck ETF Trust GDX | 76,460 | $4.0M | 0.17% | no change |
| 27 | Vaneck ETF Trust OIH | 15,940 | $3.7M | 0.16% | +29% |
| 28 | Sotera Health SHC | 233,690 | $2.6M | 0.11% | new |
| 29 | GoPro GPRO | 2.8 M | $2.1M | 0.09% | no change |
| 30 | Peloton Interactive PTON | 179,470 | $1.2M | 0.05% | −96% |
| 31 | Gain Therapeutics GANX | 566,130 | $1.0M | 0.04% | no change |
| 32 | Nuvation Bio NUVB | 34,995 | $68.2K | 0.00% | no change |
| 33 | Nuvation Bio NUVB/WS | 100,000 | $27.0K | 0.00% | no change |
| 34 | Katapult Holdings | 262,227 | $2.1K | 0.00% | no change |
Positions it closed (3)
- Viatris VTRSwas 2.65% · 6.0 M shares
- Dollar Tree DLTRwas 1.66% · 436,360 shares
- Alight, Inc. / Delaware ALITwas 0.30% · 1.0 M 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) ↗
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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.