Einhorn’s Greenlight to Investors: ‘Most of our Company Theses Are Intact’

In its third-quarter letter, the value-oriented hedge fund firm seeks to reassure investors about its 25.7 percent loss this year.

Steve Taub December 20, 2025

Illustration by II

It’s all good.This is the overriding message David Einhorn’s Greenlight Capital seems to stress in its third-quarter letter to investors that was obtained by Institutional Investor.Yes, the fund lost 9.1 percent in the third quarter and is now down 25.7 percent for the year. And

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