Einhorn’s Greenlight Said to Erase Drop With Gain in May

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.