David Einhorn's Greenlight Capital poured money into PG & E and other consumer-facing stocks in the third quarter, while also reducing some technology exposure. The hedge fund manager built out a stake worth nearly $100 million in California-based utility PG & E during the three months ended Sept. 30, regulatory fillings show, making it the seventh-largest holding in the hedge fund, according to InsiderScore. Einhorn dove into PG & E as it rebounded after selling off 31% in the first half of the year in the wake of the deadly Los Angeles-area wildfires in January. Shares rose more than 8% in the third quarter and are up another 9% since the end of September. PCG YTD mountain PG & E, year to date The 56-year-old investor also opened a position valued at just under $25 million in United Park
Einhorn's Greenlight bet on beaten-down California utility after wildfires
CNBC Investing1 hrs ago
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