Greenlight
Greenlight Capital
Global Mid-cap
Dec 2024 → Mar 2026
Our archive holds 4 letters from this strategy, behind 8 investment theses and positions in 8 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 3 years — follow all of Greenlight for every strategy.
Its investment theses
- SLM CorporationMar 2026SLM Corporation is the leading private student lender with mitigated credit risk via cosigners, growth potential in graduate lending, and significant buyback capacity at a low multiple.
- Versant Media GroupMar 2026Versant Media Group is a Comcast spin-off with resilient live content, growing non-Pay TV assets, and an attractive sub-4x EBITDA valuation after forced selling.
- Crocs, Inc.Mar 2026Crocs, Inc. is a global footwear brand with industry-leading margins, strong international growth, attractive ~6x 2026 EPS valuation, and substantial share buybacks.
- Global PaymentsDec 2025Global Payments is reshaping its portfolio with Worldpay, targeting significant free cash flow and shareholder returns to drive re-rating.
- Capri HoldingsDec 2024CPRI is a company we increased our position in despite a court blocking its merger, as we believe its interim poor results reflect management distraction and that there is strategic potential for recovery with its Versace and Jimmy Choo brands.
- Centene CorporationDec 2024CNC is trading at a historically low valuation despite its status as the largest Managed Medicaid company, with potential for significant repricing in its core Medicaid business over the next two years amidst current concerns.
- CNH IndustrialDec 2024CNH is a leading agricultural equipment manufacturer poised for a recovery despite current downturns, with an estimated bottom earnings of $1 per share, an attractive entry price, and ongoing shareholder returns through dividends and stock buybacks.
- Peloton Interactive, Inc.Dec 2024Peloton is a company with a loyal customer base that, despite a 98% stock decline from its peak, has potential for significant upside through cost-cutting and improved profitability.