David Einhorn Portfolio Analysis (December 31, 2021)

Famous superinvestor, David Einhorn, revealed in a recent regulatory filing his newest positions.  In David Einhorn portfolio 2021 analysis, we will go into more detail about top 5 stocks this superinvestor had as of December 31, 2021.

Einhorn manages his investments via his fund, Greenlight Capital, which holds about $1.6 billion according to the latest available 13F filling. Click here for the latest available 13F filling.

The most notable stocks in David Einhorn’s Q4 portfolio include Green Brick Partners Inc, Brighthouse Finl Inc, Teck Resources Ltd, Change Healthcare Inc and Atlas Air Worldwide Hldgs In. In addition to others mentioned in detail below.

We used the Q4 portfolio of David Einhorn’s Greenlight Capital to select his top 5 value stocks. We ranked the securities according to Einhorn’s stake value in each holding.

Summary

  • David Einhorn’s top 5 securities make up 59.5% of the entire portfolio.
  • Greenlight Capital owns position in 56 holdings, managing approximately $1.6 billion.
  • Green Brick Partners Inc, Einhorn’s largest holding, makes up 32.2% of the total portfolio.

Green Brick Partners Inc (GRBK)

Greenlight Capital’s stake value: $528.3 Million

Percentage of Greenlight Capital’s 13F Portfolio: 32.2%

Green Brick Partners Inc does business in Construction sector and has 440 employees. Current CEO is James Brickman.

As of February 16, 2022 Green Brick Partners Inc had a market cap of $1.172 Million. Analysts predicted 1 year target price of $28.83 that exceeds the current price of $22.96 for 25.6%. Trailing twelve months P/E ratio is currently 7.55 making it much cheaper stock than the rest of the S&P500 index. If we look at revenue, Green Brick Partners Inc generated high $976 million revenue in 2020 which is a considerable increase of 23.4% compared to 2019 when it was $791 million. Net income surged according to the latest fillings, jumping in 2020 by around 93.8% adding up to total of $113.693 million. In addition, the net income margin, which in 2020 was 11.6%, shows significant improvement set side by side with last few years.

Green Brick Partners, Inc. is a diversified homebuilding and land development company.

Brighthouse Finl Inc (BHF)

Greenlight Capital’s stake value: $196.2 Million

Percentage of Greenlight Capital’s 13F Portfolio: 11.9%

Brighthouse Financial Inc does business in Direct Life Insurance Carriers industry, which is Finance and Insurance sector and has 1400 employees. Current CEO is Eric Steigerwalt.

As of February 16, 2022 Brighthouse Finl Inc had a market cap of $4.484 Million. Analysts predicted 1 year target price of $60.56 that exceeds the current price of $56.98 for 6.3%. Looking at revenue, Brighthouse Finl Inc generated significant amount of revenue, $8498 million in 2020, surging by 30.3% in comparison to 2019 when it was $6520 million. Net income surged according to the latest fillings, jumping in 2020 by around 43.4% adding up to total of $-1061.0 million.

Brighthouse Financial, Inc. (Brighthouse Financial) is on a mission to help people achieve financial security. As one of the largest providers of annuities and life insurance in United States.

Teck Resources Ltd (TECK)

Greenlight Capital’s stake value: $97.9 Million

Percentage of Greenlight Capital’s 13F Portfolio: 6.0%

Teck Resources Ltd does business in Dimension Stone Mining and Quarrying industry, which is Mining, Quarrying, and Oil and Gas Extraction sector and has 10700 employees. Current CEO is Donald Lindsay.

As of February 16, 2022 Teck Resources Ltd had a market cap of $19.402 Million. Analysts predicted 1 year target price of $35.63 that falls short of the current price which is $36.27 for 1.0%. Trailing twelve months P/E ratio is currently 27.15 making it a slightly more expensive stock than the rest of the S&P500 index. Net income surged according to the latest fillings, jumping in 2020 by around 42.8% adding up to total of $-864.0 million. Lastly, the profit margin, according to the last 10-F stands at -9.7%, has significantly deteriorated in comparison to the company’s previous years of operation.

Teck is a diversified resource company committed to responsible mining and mineral development with major business units focused on copper, zinc and steelmaking coal, as well as investments in energy assets.

Change Healthcare Inc (CHNG)

Greenlight Capital’s stake value: $77.8 Million

Percentage of Greenlight Capital’s 13F Portfolio: 4.7%

Change Healthcare Inc does business in Information sector and has 15000 employees.

As of February 16, 2022 Change Healthcare Inc had a market cap of $6.243 Million. Analysts predicted 1 year target price of $25.8 that exceeds the current price of $19.99 for 29.1%. Looking at revenue, Change Healthcare Inc generated significant amount of revenue, $3090 million in 2021, surging by 1476.5% in comparison to 2020 when it was $196 million. Net income dropped according to the latest fillings, sinking in 2021 by around -88.2% totalling $-112.21 million. Lastly, the profit margin, according to the last 10-F stands at -9.7%, has significantly deteriorated in comparison to the company’s previous years of operation.

Change Healthcare is a leading independent healthcare technology company, focused on insights, innovation and accelerating the transformation of the U.S. healthcare system.

Atlas Air Worldwide Hldgs In (AAWW)

Greenlight Capital’s stake value: $76.7 Million

Percentage of Greenlight Capital’s 13F Portfolio: 4.7%

Atlas Air Worldwide Holdings Inc. does business in Transportation and Warehousing sector and has 4061 employees. Current CEO is John Dietrich.

As of February 16, 2022 Atlas Air Worldwide Hldgs In had a market cap of $2.284 Million. Analysts predicted 1 year target price of $105.57 that exceeds the current price of $78.24 for 34.9%. Trailing twelve months P/E ratio is currently 4.65 making it much cheaper stock than the rest of the S&P500 index. If we look at revenue, Atlas Air Worldwide Hldgs In generated high $3211 million revenue in 2020 which is a considerable increase of 17.2% compared to 2019 when it was $2739 million. Net income dropped according to the latest fillings, sinking in 2020 by around -222.9% totalling $360.286 million. In addition, the net income margin, which in 2020 was 11.2%, shows significant improvement set side by side with last few years.

Atlas Air Worldwide is a leading global provider of outsourced aircraft and aviation operating services.

Conclusion

To conclude, here is the list of the top 5 holdings and most recent financial indicators of these positions as of February 16, 2022.

Stock% of portfolioMarket Cap (USD)P/ENet earnings (USDm)Net earnings y/yProfit margin
Green Brick Partners Inc (GRBK)32.2%1.172B7.511393.8%11.6%
Brighthouse Finl Inc (BHF)11.9%4.484Bnan-106143.4%-12.5%
Teck Resources Ltd (TECK)6.0%19.402B27.1-86442.8%-9.7%
Change Healthcare Inc (CHNG)4.7%6.243Bnan-112-88.2%-9.7%
Atlas Air Worldwide Hldgs In (AAWW)4.7%2.284B4.7360-222.9%11.2%

Canadians can find the above stocks on Questrade.

Other investors can use Interactive Brokers or eToro.

Disclosure & Disclaimer: Please take into consideration that this is not financial, investing, or tax advice. The information on this website is for informational and recreational purposes only. Before any financial decision do your own due diligence. Some of the links are affiliates, and I may earn a small commission when you make a purchase through them at no additional cost to you.