Greenlight Capital Announces Q2 2025 Trades: New Positions in FLR and VSCO, Exit From VTRS

Greenlight Capital, led by David Einhorn, has disclosed its Q2 2025 13F filing trades. The hedge fund has established new stakes in Fluor Corp. (FLR) and Victoria's Secret & Co. (VSCO), while exiting its position in Varex Imaging Corp. (VTRS). Greenlight also made adjustments to its existing stakes, adding to its shares in Albireo Pharma Inc. (ABIO) and Amgen Inc. (AMGN), while reducing its holdings in Activision Blizzard Inc. (ATVI) and Bristol Myers Squibb Co. (BMY). The trades provide insight into Greenlight's investment strategy and market outlook, indicating potential confidence in FLR and VSCO, and a less optimistic view of VTRS.

Greenlight Capital, a prominent hedge fund led by David Einhorn, has released its Q2 2025 13F filing, offering valuable insights into the fund's investment strategy and market outlook. The filing reveals significant changes in the portfolio, including new stakes in Fluor Corp. (FLR) and Victoria's Secret & Co. (VSCO), as well as the exit of Varex Imaging Corp. (VTRS) [2].

Among the notable additions, Greenlight increased its stake in Fluor Corp. (FLR) by purchasing 3,819,580 shares, accounting for 8.42% of the portfolio and a total value of $195.83 million. The purchase of Victoria's Secret & Co. (VSCO) involved 887,750 shares, representing 0.71% of the portfolio and a total value of $16.44 million. Additionally, the fund increased its holdings in Graphic Packaging Holding Co. (GPK) by 3,658,850 shares and Teva Pharmaceutical Industries Ltd. (TEVA) by 3,210,577 shares, indicating a significant increase in the portfolio's exposure to these stocks [2].

Conversely, the fund exited its position in Varex Imaging Corp. (VTRS), selling all 6,000,830 shares, resulting in a -2.65% impact on the portfolio. Furthermore, Greenlight reduced its positions in several other stocks, including Peloton Interactive Inc. (PTON) and Kyndryl Holdings Inc. (KD) [2].

The trades suggest a cautious approach to certain sectors, with a notable reduction in shares of Peloton Interactive Inc. (PTON) and Kyndryl Holdings Inc. (KD). This strategic shift aligns with Greenlight's value-oriented investment approach, emphasizing intrinsic value and consistent absolute returns [2].

Greenlight's portfolio remains heavily diversified, with top holdings including Green Brick Partners Inc. (GRBK), Fluor Corp. (FLR), Core Natural Resources Inc. (CNR), Brighthouse Financial Inc. (BHF), and Kyndryl Holdings Inc. (KD) [2].

In conclusion, Greenlight Capital's Q2 2025 13F filing provides a comprehensive overview of the fund's investment activities and market outlook. The filing indicates potential confidence in Fluor Corp. (FLR) and Victoria's Secret & Co. (VSCO), while also suggesting a less optimistic view of Varex Imaging Corp. (VTRS). The fund's strategic adjustments underscore its commitment to a value-oriented investment strategy, emphasizing long-term fundamentals and consistent returns.

References:
[1] https://www.tradingview.com/news/tradingview:0ce9c15714637:0-greenlight-capital-re-executive-sells-shares/
[2] https://finance.yahoo.com/news/david-einhorns-strategic-moves-fluor-190255593.html