The main fund at billionaire David Einhorn’s Greenlight Capital rose 3.6 percent in May, reversing losses in 2015.
The performance lifted the fund to a gain of 1.4 percent this year, according to a person briefed on the returns, who asked not to be identified because the fund isn’t public. The fund outpaced the 1.3 percent advance of the Standard & Poor’s 500 Index during the month, including reinvested dividends.
Greenlight, which oversees about $12 billion and invests mostly in stocks, has lagged behind the average hedge fund this year. The HFRX Global Hedge Fund Index, which measures asset-weighted performance across funds around the world, rose 2.6 percent year-to-date, according to data compiled by Bloomberg.
Jonathan Gasthalter, a spokesman for New York-based Greenlight with Sard Verbinnen & Co., declined to comment on the performance.