David Einhorn’s Greenlight Trims Apple Stake Before Shares Climb

David Einhorn, president of Greenlight Capital Inc., speaks during the 20th Annual Sohn Investment Conference in New York, U.S., on Monday, May 4, 2015. Since 1996 the Sohn Investment Conference has brought together the worldÕs savviest investors to share fresh insights and strategies in support of pediatric cancer research and treatment.

Beleaguered hedge fund manager David Einhorn sold shares of Apple Inc. in the second quarter before they continued their ascent in the third period.

Einhorn, who runs Greenlight Capital, trimmed his stake in Apple by 486,000 shares, reducing his position to about $26.3 million at the end of the second quarter, according to regulatory filings. Shares of Apple have jumped about 13 percent in the third quarter.

The hedge fund manager has piled up losses this year with wrong way bets on Tesla Inc. and General Motors Co. Greenlight’s main fund lost 0.3 percent in July, bringing the decline for the year’s first seven months to about 19 percent, the firm said in a letter to clients.

Read more about Greenlight’s holdings in the second-quarter here

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