New York (HedgeCo.net) – Through the first three quarters, 2015 has been a rough one for David Einhorn and Greenlight Capital. According to a Reuter’s report, the fund was down another 3.6 percent in the month of September and that puts the year to date loss at 16.9 percent. Greenlight had been averaging annual returns of approximately 20 percent and they haven’t had a down year since 2008. At this point it would take a miracle for the fund to keep its annual winning streak alive.

Einhorn has had several investments go against him this year, but one of that has likely hurt the most is SunEdison. Renewable energy stocks have been hurt with oil prices staying depressed for so long and as a result Sun Edison as fallen sharply. In fact, since mid-July the stock is down over 75 percent from its high and that is after being up almost 65% in the first half of the year.

Other investments that have worked against him have included Console Energy, Keurig Green Mountain and Micron Technology. One investment that is certainly working for Mr. Einhorn is his bearish bet on Pioneer Natural Resources. Pioneer is down almost 32 percent since mid-April.

Rick Pendergraft
Research Analyst
HedgeCoVest