Greenlight Capital Adds PayPal and Comcast in Q2; Exits VSXY
In the second quarter of 2026, David Einhorn's hedge fund, Greenlight Capital, returned -4.3%, significantly underperforming the S&P 500 index which gained 15.2% for the same period. Year-to-date returns were also lower at 1.9% compared to the market’s 10.2%. During this time, the firm added positions in PayPal and Comcast while exiting its position in VSXY. The underperformance highlights a challenging quarter for Greenlight Capital's investment strategy relative to broader equity markets. The addition of PayPal and Comcast suggests a shift toward more stable or growth-oriented sectors such as financial services and media/telecoms, whereas the exit from VSXY—a volatility product—may reflect strategic rebalancing in response to market conditions. The move could signal Greenlight's confidence in long-term value within these new holdings while reducing exposure to high-volatility instruments.
Tickers: $PYPL