David Einhorn's Greenlight Capital Boosts Fluor Corp, Exits Viatris, Peloton, and Kyndryl

David Einhorn's Greenlight Capital has filed its Q2 2025 13F, showing significant moves in its portfolio. Notable additions include Fluor Corp (8.42% of the portfolio), The Cigna Group, and Victoria's Secret & Co. Einhorn also increased stakes in Graphic Packaging Holding Co and Teva Pharmaceutical Industries Ltd. He sold out of Viatris Inc, Dollar Tree Inc, and reduced positions in Peloton Interactive Inc and Kyndryl Holdings Inc.

In the latest 13F filing for the second quarter of 2025, David Einhorn, president of Greenlight Capital, has made significant moves in his portfolio. The filing provides insights into the investment strategies and changes made by Einhorn, a noted activist investor. Notable additions include Fluor Corp (NYSE: FLR), The Cigna Group (NYSE: CI), and Victoria's Secret & Co (NYSE: VSCO). Einhorn also increased stakes in Graphic Packaging Holding Co (NYSE: GPK) and Teva Pharmaceutical Industries Ltd (NYSE: TEVA). Additionally, he sold out of Viatris Inc (NASDAQ: VTRS) and Dollar Tree Inc (NASDAQ: DLTR), and reduced positions in Peloton Interactive Inc (NASDAQ: PTON) and Kyndryl Holdings Inc (NYSE: KD).

One of the most significant additions was Fluor Corp, which now accounts for 8.42% of the portfolio and has a total value of $195.83 million. The Cigna Group was added with 93,750 shares, representing approximately 1.33% of the portfolio and a total value of $30.99 million. Victoria's Secret & Co was added with 887,750 shares, accounting for 0.71% of the portfolio and a total value of $16.44 million.

Einhorn also increased his stake in Graphic Packaging Holding Co by an additional 3,658,850 shares, bringing the total to 4,705,950 shares. This represents a significant 349.43% increase in share count and a 3.31% impact on the current portfolio, with a total value of $99.15 million. Similarly, he increased his stake in Teva Pharmaceutical Industries Ltd by an additional 3,210,577 shares, bringing the total to 3,778,777 shares. This adjustment represents a significant 565.04% increase in share count, with a total value of $63.33 million.

Notably, Einhorn sold all 6,000,830 shares of Viatris Inc, resulting in a -2.65% impact on the portfolio. He also liquidated all 436,360 shares of Dollar Tree Inc, causing a -1.66% impact on the portfolio. Additionally, he reduced his position in Peloton Interactive Inc by 4,823,938 shares, resulting in a -96.41% decrease in shares and a -1.54% impact on the portfolio. He also reduced his position in Kyndryl Holdings Inc by 823,910 shares, resulting in a -19.92% reduction in shares and a -1.31% impact on the portfolio.

These moves reflect Einhorn's strategy of emphasizing intrinsic value and pushing management to implement changes. The portfolio overview at the end of the second quarter of 2025 included 34 stocks, with top holdings including 25.59% in Green Brick Partners Inc (NYSE: GRBK), 8.42% in Fluor Corp (NYSE: FLR), 6.46% in Core Natural Resources Inc (NYSE: CNR), 6.38% in Brighthouse Financial Inc (NASDAQ: BHF), and 5.97% in Kyndryl Holdings Inc (NYSE: KD).

Reference List:
[1] https://ca.finance.yahoo.com/news/david-einhorns-strategic-moves-fluor-190255593.html
[2] https://www.tradingview.com/news/tradingview:0ce9c15714637:0-greenlight-capital-re-executive-sells-shares/
[3] https://finance.yahoo.com/news/david-einhorns-strategic-moves-fluor-190255593.html
[4] https://www.marketbeat.com/instant-alerts/filing-mitsubishi-ufj-asset-management-co-ltd-acquires-53443-shares-of-teva-pharmaceutical-industries-ltd-nyseteva-2025-08-12/