David Einhorn talking on the SOHN convention in New York, Could 6, 2019.

Heidi Gutman | CNBC

Greenlight Capital’s David Einhorn took some cash off the desk in a number of positions final quarter, decreasing his lengthy bets on shares by $25 million even because the market rose.

Einhorn has made his title as a short-seller, successful massive bets in opposition to corporations like Enron and Lehman Brothers. Final month Einhorn revealed that he had taken a brief place in opposition to Netflix, saying the streaming video firm’s story was “busted.”

The fund returned 13.8% final 12 months and has averaged an annualized return of 12.7% because it started. 2018, nonetheless, was the worst 12 months on document, as Greenlight posted a 34% loss. The fund has been struggling in recent years, with some traders pulling their cash out of the fund.

Einhorn does maintain some lengthy positions as nicely, together with 5 holdings value greater than $100 million as of the tip of the fourth quarter.

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