Einhorn's Greenlight Falls 1% in April, Paring 2017 Gain

(Bloomberg) -- Greenlight Capital, the hedge fund firm led by David Einhorn, lost 1 percent in April, according to an email to clients that was seen by Bloomberg News.

The result trailed the 1.2 percent rise in the S&P 500 Total Return Index, a measure that includes reinvested dividends, during the month. The stock-market index has gained 7.2 percent this year.

Like the average hedge fund, Greenlight is trailing the U.S. stock market in 2017. April’s performance pares its gains to 0.4 percent for the first four months of the year. A preliminary estimate of hedge fund performance rose 2.1 percent this year through April 27.

Jonathan Gasthalter, a spokesman for the New York-based firm, declined to comment.