Einhorn's Greenlight Capital Takes New Positions in FLR and VSCO, Exits VTRS.

David Einhorn's Greenlight Capital has added Fluor and Victoria's Secret to its portfolio, while exiting VTRS. The hedge fund holds 760.6K shares of Fluor and 168.3K shares of Victoria's Secret. The exact trades are not specified in the article.

David Einhorn's Greenlight Capital has made notable adjustments to its portfolio during the second quarter of 2025. The hedge fund has added significant stakes in Fluor (NYSE: FLR) and Victoria's Secret (NYSE: VSCO), while simultaneously exiting its position in Viatris (NASDAQ: VTRS) [1]. According to the latest 13F filing released on Thursday, Greenlight Capital now holds 760.6K shares of Fluor and 168.3K shares of Victoria's Secret.

Greenlight Capital also bolstered its positions in PENN Entertainment (PENN) and Graphic Packaging Holding Company (GPK). The firm increased its stake in PENN from ~6.3M shares in Q1 to ~7.5M shares in Q2 and in GPK from ~1.1M shares to ~4.7M shares during the same period. Additionally, the hedge fund reduced its holding in Peloton Interactive (PTON) from ~5.0M shares to ~180K shares [1].

The move to add Fluor and Victoria's Secret to its portfolio could be indicative of Greenlight Capital's confidence in the future prospects of these companies. Fluor, a global engineering and construction firm, has been involved in several high-profile projects, including the construction of the LNG terminal in Santos, Brazil, which resulted in a legal dispute with Fluor. Victoria's Secret, known for its luxury lingerie and accessories, has been expanding its e-commerce presence and has recently won the FDA nod for a generic iron sucrose injection targeting Daiichi’s Venofer [1].

Conversely, the exit from Viatris could be due to various reasons, including changes in the company's strategic direction or performance. Viatris, a pharmaceutical company, has been focusing on generic drugs and has been involved in legal disputes related to its operations.

Overall, these moves by Greenlight Capital suggest a strategic realignment of its portfolio, with a focus on companies with strong growth prospects and potential for long-term value creation.

References:
[1] https://seekingalpha.com/news/4485554-david-einhorns-greenlight-capital-adds-flr-vsco-exits-vtrs-among-other-trades