David Einhorn’s main hedge fund at Greenlight Capital fell 4.3 percent in June as stock markets around the world slumped.
The loss reversed the fund’s 2015 gains, leaving it down 3 percent in the first half of the year, according to an e-mail sent to clients that was obtained by Bloomberg News.
Greenlight is trailing the average hedge fund in a year when stock pickers are besting U.S. equity markets for the first time since the 2008 financial crisis. The Standard & Poor’s 500 Index declined 1.9 percent for the month, including reinvested dividends, as squabbles over a Greek bailout provoked uncertainty. The HFRX Global Hedge Fund Index, which measures asset-weighted performance across funds globally, rose 1.2 percent this year through June 29.
Jonathan Gasthalter, a spokesman for New York-based Greenlight with Sard Verbinnen & Co., declined to comment on the performance.