Greenlight Capital Rose 3.4% in February as Stock Market Gained

David Einhorn’s Greenlight Capital posted a 3.4 percent return in its main hedge fund in February, according to an e-mail sent to investors that was obtained by Bloomberg News.

The increase pushed returns since the start of the year to 0.8 percent, the note said. The Standard & Poor’s 500 Index returned 2.6 percent this year, including dividends.

The $12 billion firm, which invests mainly in equities, outperformed its peers in 2014 even as it trailed broader stock markets. Einhorn told investors in January that the firm was giving up its goal of gaining 20 percent per year and replacing it with relative goals to account for lower interest rates and the record prices of stocks, two people familiar with the matter said last month.

Jonathan Gasthalter, a spokesman for Greenlight with Sard Verbinnen & Co., declined to comment on the performance.

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