Apple, Micron, Sune Propel Greenlight To 9% Return In 2014

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2014 is not yet over but with the market closed we are getting our first news on hedge fund results for the year. We will follow up with more details (so stay tuned) – but ValueWalk has obtained investment returns for Dan Loeb’s Third Point and David Einhorn’s Greenlight Capital. Before we start with the numbers, see the chart below that has some almost complete 2014 returns from a copy of hedge weekly dated December 19th.

ISAM looks like it will take the crown and Pershing will be near the top. We will have more numbers on Ackman’s hedge fund very soon – we also wanted to note that we have numbers through December 30th and the hedge fund has returned 40.9% YTD. What drove those returns (again more info soon) but this screenshot is from the Nov stat sheet.

UPDATE 1/1/15 10:48AM EST: Jana Partners was up 0.3% in December for a 2014 net return of 3.7%, according to a letter to investors seen by ValueWalk.

For Loeb we do not have much data on holdings but Third Point returned negative -1.2% in December and 5.8% YTD ( you can view his stat sheet below). Einhorn we have the most info about (although Q4 should provide a lot more) – but here we go

[pdfjs-viewer url= viewer_width=700px viewer_height=800px fullscreen=true print=true download=false openfile=false]

Net Monthly Returns:

December 2014: (2.2)%

Net Quarterly Returns:

 2014 2013 2012 2011 2010
1st……….      (0.7)%    5.8%  6.5%    (3.4)% (1.9)%
2nd………    8.1 2.0 (3.3) (1.9) 2.6
3rd……….  (3.7) 4.0 8.8 0.1 3.6
4th……….   5.3  6.6 (4.4) 7.6 6.5
Full Year      8.8(1)
19.6 7.1 2.1  11.0 


As of 31-December-2014, the largest disclosed long positions in Greenlight’s investment portfolio are Apple, Consol Energy, gold, Marvell Technology, Micron Technology and SunEdison; our investment portfolio is approximately 106% long and 67% short.

Einhorn had a tough year – the latest being his holding in CVEO down about 50% in the past few days (JANA Partners just dumped their stake in the company). Einhorn also took some hits from his GMCR short, CONN long, Greek bank warrants etc. But despite the bumps the hedge fund was almost up nearly 9% – how? Many of the top holdings did fantastic –

YTD approximate returns

Apple 38%

Micron 63%

Marvell 7%

Sune 52%

Gold flat

Consol Energy -12% * – interesting to note that CNX is now a top holding. In his Q3 letter, Einhorn disclosed the ‘medium-sized’ long position.

 More to come!

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