Business Context and Reporting Period
This Form 8-K was filed by Greenlight Capital Re, Ltd. on January 18, 2011. The filing serves as a Regulation FD disclosure to disseminate information provided by David Einhorn, Chairman of the Board and President of Greenlight Capital, Inc., during a private investor conference on the same date. DME Advisors, LP, controlled by Mr. Einhorn, acts as the exclusive investment advisor to the Company and its subsidiaries.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, or cash flow data for Greenlight Capital Re, Ltd. The only specific financial metric disclosed relates to the assets managed by the investment advisor:
- Assets Under Management (DME Advisors): Approximately $1.07 billion as of December 31, 2010, managed under the Advisory Agreement.
Information regarding the Company's debt, liquidity, margins, or operating cash flows is not present in this document.
Material Changes and Portfolio Positions
The filing discloses specific portfolio positions held by accounts managed by Greenlight Capital, Inc. and its affiliates as of January 18, 2011. Mr. Einhorn identified the following as "key positions":
- Arkema
- CareFusion
- CIT Group
- Delta Lloyd
- Ensco
- Gold
- Pfizer
- Vodafone Group
No quantitative data regarding the size of these positions or changes from the prior period is provided in this text.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, earnings outlook, or management commentary regarding future financial performance. It includes a standard legal disclaimer stating that the information is furnished and not "filed" for purposes of Section 18 of the Exchange Act, limiting liability and preventing incorporation by reference into other filings.
Investor Verification Checklist
- Verify the specific dollar value or percentage of the "key positions" (e.g., Arkema, Pfizer) held by Greenlight Capital, Inc. versus the $1.07 billion managed by DME Advisors.
- Confirm if the disclosed positions represent new entries or existing holdings as of the reporting date.
- Review the full text of the private investor conference presentation for additional context not included in this summary.
- Check subsequent filings for updates on the $1.07 billion in assets managed by DME Advisors.