5 Stocks Billionaire David Einhorn Just Bought and Sold

1. Green Brick Partners, Inc. (NYSE:GRBK)

Stake Value: $512,332,318

David Einhorn’s Greenlight Capital cut its stake in Green Brick Partners, Inc. (NYSE:GRBK) by 25% in the third quarter of 2023, ending the period with about $512 million stake in the company. Green Brick Partners, Inc. (NYSE:GRBK) is still the biggest holding of the hedge fund.

Greenlight Capital made the following comment about Green Brick Partners, Inc. (NYSE:GRBK) in its second quarter 2023 investor letter:

“If you would have told us on January 1 that for the first half of the year, Green Brick Partners, Inc. (NYSE:GRBK)’s stock price would advance 134%, from $24.23 to $56.80, but we were up only 13.1%, we would also want to ask, “How the heck did that happen?”

Putting those two conflicting questions together explains the first half of the year. We had a solid first half result, where GRBK was more than all of the return. The rest of the long portfolio contributed a few percent, the short portfolio struggled and macro was marginally positive.

We also benefitted by increasing net exposure (mostly by reducing shorts) in March, when a few regional banks failed and we assessed that the Federal Reserve would have to favor financial stability and stop fighting the stock market. In the second quarter, other than GRBK, both the long and short portfolios went up with the market. Fortunately, GRBK carried the day…” (Click here to read the full text)

You can also take a peek at 25 Worst States for Human Trafficking in America and 20 Most Common Places to Get Kidnapped.