According to CoinMeta, David Einhorn's Greenlight Capital reduced their holdings in SPDR Gold Trust (NYSEARCA : GLD) to 99,611 shares in the first quarter of 2026, while Daniel Loeb's Third Point opened a new position of 95,000 shares during the same quarter. These two actions, disclosed in the 13F filings submitted about 45 days after the end of the quarter, show that the two positions are almost identical but come from opposite directions. Einhorn has discussed gold as a safe-haven asset for currency on multiple occasions over the past two years, believing that central banks and sovereign nations are quietly reclassifying it as a reserve asset. Loeb is known for its stock investments and aggressive strategies, keeping it away from the traditional hard-currency circle. The current 10-year real yield is 4.75%, whereas the Federal Reserve has paused at 3.75%; the rising real yield has diminished the attractiveness of gold. Einhorn's reduction in holdings reflects a rebalancing, yet they still hold 99,611 shares of GLD, demonstrating the operational discipline of professionals.