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Greenlight Capital's David Einhorn has had a busy first quarter, despite the unprecedented market volatility.
Einhorn added twelve new stocks to the hedge fund's portfolio amid the worst first quarter in history for financial markets.
Einhorn has made his name as a short seller, winning big bets against companies like Enron and Lehman Brothers. At the start of 2020 Einhorn revealed that he had taken a short position against Netflix, saying the streaming video company's story was "busted." Meanwhile, Netflix stock has rallied more than 40% as the streaming giant benefits from the millions of Americans stuck in their homes during the coronavirus pandemic.
Einhorn's fund has been struggling in recent years, with some investors pulling their money out. The fund — which managed about $2.5 billion as of 2019 — returned just under 14% in 2019, according to a letter to investors, less than half the return of the S&P 500. This follows a 34% loss in 2018. Still, the fund has returned 12.7% annually, net of fees and expenses, to investors since its inception.