Greenlight RE Up 2.6 Percent in July; Apple Largest Position

Greenlight RE Up 2.6 Percent in July; Apple Largest Position
David Einhorn InsiderMonkey (CC BY-ND 2.0)

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) has just released their returns and positioning as of July 31st 2013. None of this news is particularly surprising although there is a bit of new information.  We first brought you coverage of Greenlight Capital’s Q2 letter to shareholder on Friday. On Monday, we brought you comments on positioning from Greenlight RE’s SEC filings. And today, we brought you coverage on Einhorn’s remarks from the conference call. Below is more information on the month of July specifically.  After adding in July returns, Einhorn is up close to 11 percent in 2013, which is pretty good for a year in which many hedge funds are lagging the S&P 500 by over 1,000 basis points.

Greenlight RE Up 2.6 Percent in July; Apple Largest Position

Greenlight Capital Re, Ltd. (NASDAQ:GLRE)  conference call audio file

Net Monthly Returns:

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July 2013 2.6%

Net Quarterly Returns:

 2013 2012 2011 2010 2009
1st……….  5.8%    6.5% -3.4% -1.9% 4.6%
2nd………  2.0 -3.3 -1.9 2.6 13.9
3rd……….   2.6(2) 8.8 0.1 3.6 4.3
4th……….  —— 4.4 7.6 6.5 6.4
Full Year  10.7 (3)
7.1 2.1 11 32.1

As of 31-July-2013, the largest disclosed long positions in Greenlight Capital Re, Ltd. (NASDAQ:GLRE) ‘s investment portfolio are Apple Inc. (NASDAQ:AAPL), General Motors Company (NYSE:GM), gold, Marvell Technology Group Ltd. (NASDAQ:MRVL) and Oil States International, Inc. (NYSE:OIS); our investment portfolio is approximately 108% long and 69% short. This exposure analysis is calculated on a delta adjusted basis and excludes macro positions, which consist of gold, credit default swaps, sovereign debt, foreign currency positions, interest rate derivatives and others.

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