Greenlight Capital's David Einhorn — who is calling for persistent inflation — took out a new position in an exchange-traded fund that tracks the price of silver in the third quarter. Greenlight added a new $32 million position in the iShares Silver Trust ETF , a fund that mimics the precious metals' price. Commodities like silver and gold are considered hedges against rising prices. Worries about rampant inflation has plagued investors in recent months. October's consumer price index reading jumped the most in 30 years, the Labor Department reported last week. Einhorn's new stake accompanies the hedge fund manager's largest holding, Green Brick, which he also said is an inflation hedge. "The reason we're positioned for inflation is we believe that whether the Fed acts or doesn't act, there's going to be quite a lot of inflation," Einhorn told CNBC in October. Green Brick is a homebuilding and land development company. Take a look at Greenlight Capital's top holdings as of September 30, 2021. The hedge fund also took out new positions in FREYR Battery and Stryve Foods in the third quarter of this year; however, the new stakes did not crack the top ten largest holdings. Einhorn increased his position in streaming company Sonos in the third quarter, which he told investors in October. He said the smart home sound system manufacturer has a "bright growth story." Greenlight also increased its stakes in Playstudios, ODP, Danimer Scientific, Change Healthcare, Sonos, LivaNova. Greenlight Capital decreased its positions in Adamis Pharmaceuticals, EchoStar, FuboTV, AerCap, Concentric and Resideo Technologies. The hedge fund closed out its stakes in UMW, Canoo, APi Group, Katapult and TD SYNNEX.
Andrew Harrer | Bloomberg | Getty Images
Greenlight Capital's David Einhorn — who is calling for persistent inflation — took out a new position in an exchange-traded fund that tracks the price of silver in the third quarter.