Hedge-fund manager David Einhorn had a second straight small monthly loss in February, lagging some other managers in the industry, according to the investment results of Greenlight Capital Re Ltd. (GLRE), a reinsurer that invests its premiums with Einhorn.

Einhorn, who runs hedge-fund firm Greenlight Capital, is also chairman of Greenlight Capital Re, which reinsures property and casualty risks.

While most reinsurers plow premiums into bonds and other credit-related securities, Greenlight Capital Re invests almost all its premiums with Einhorn, who specializes in long/short equity trading.

Einhorn was down 0.8% in February, after a smaller loss in January. That left him 1.4% down so far in 2011, according to a disclosure on Greenlight Capital Re's website.

Einhorn's largest disclosed long positions at the end of February were: Cardinal Health Inc. (CAH) , CareFusion Corp. (CFN) , Ensco PLC (ESV), gold, Pfizer Inc. (PFE) and Vodafone Group PLC (VOD, VOD.LN), according to the disclosures.

A month earlier, his largest disclosed long holdings were: Arkema SA (AKE.FR, ARKAY), Delta Lloyd NV (DLLLF), Ensco, gold, Pfizer and Vodafone Group, according to the disclosures.

 
   Och-Ziff

Dan Och's Och-Ziff Capital Management LLC (OZM), one of the largest hedge-fund firms, said in a regulatory filing Wednesday that its main fund, the OZ Master Fund, returned 1.1% in February, leaving it up 2.83% so far this year.

The firm's European hedge fund gained 0.88% in February, while its OZ Global Special Investments fund was up 1.67%.

Och-Ziff's Asia Master Fund lost 0.1% in February, leaving it up 0.88% so far in 2011, according to the regulatory filing.

 
   Third Point

Dan Loeb's $3.1 billion Third Point Offshore hedge fund returned 3.6% in February, leaving it up 7.6% so far this year, according to a London Stock Exchange filing Wednesday.

Loeb's biggest positions are gold, securities of Chrysler Group LLC and auto-parts maker Delphi, El Paso Corp. (EP) and LyondellBasell Industries (LYB) .

The fund's top winners in February included gold, securities of NXP Semiconductors NV (NXPI) and El Paso, according to the filing.

-Alistair Barr; 415-439-6400; AskNewswires@dowjones.com
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