Greenlight Q3 letter: Netflix and Tesla shorts, long on Brighthouse, Chemours

David Einhorn’s Greenlight Capital was up 5.6% for the third quarter, bringing its year-to-date return to 24% for the year. Most of the gains were in the long portfolio, although the fund’s Netflix short contributed significantly to its returns. Losing positions included Tesla and Chemours.

In their third-quarter letter to investors, which was reviewed by ValueWalk, the Greenlight team said their short book posted a small loss for the fund during the third quarter, while their macro positions posted a small gain to offset the loss on the short book.