David Einhorn’s Greenlight Top hedge fund reported new holdings in several big retailers as of the end of December.
The wherewithal reported new stakes in nearly two dozen companies, including a 6.2 million divide up stake in department store operator J.C. Penney, 125,000 shares in Nordstrom and 132,000 parts in Kohls. Greenlight also disclosed a new 103,000 share stake in Signet Jewelers, 451,000 allots in Under Armour, and 103,000 shares in Best Buy.
In the same period, Greenlight dissolved put money ons in Monsanto, Rite Aid, Hewlett Packard and Kroger.
The fund also imparted a 2.7 million share stake in Twitter. CNBC previously reported in January that Greenlight Topping had bought a stake in the social media platform.
Investment managers are ask for to report major stakes each quarter, though with a loitering that means they may have changed their holdings since the end of the arriving period.
But if Greenlight didn’t change anything, some of its new bets are already meet off. Twitter shares are up 40 percent year to date, according to FactSet. Cuts of J.C. Penney are up 16.8 percent, and Under Armour up 23 percent.
Greenlight got splintered in January, dropping 6.6 percent during the best month for the S&P 500 since first 2016. That came after the fund returned 1.6 percent for 2017 versus the trade in’s 19 percent gain. The fund’s fortunes may have reversed this month after the bazaar’s sharp sell-off.
Einhorn has talked about the fund’s struggle with bearish wagers on stocks that went the opposite direction, including Amazon, Netflix and Tesla. The reservoir also lost its bid last year to gain seats on the board of Common Motors in an activist push.