David Einhorn and Kathy Warden are prominent American business figures, but there is no verified evidence that they have a direct personal, professional, board, or current investment relationship. Einhorn is the co-founder and president of Greenlight Capital, while Warden is the chair, CEO, and president of aerospace and defense contractor Northrop Grumman.
The most plausible reason their names appear together in searches is the intersection of investment management, corporate leadership, and publicly traded U.S. companies. Importantly, Greenlight Capital’s latest publicly available Form 13F for the quarter ended June 30, 2026 does not list Northrop Grumman among its reported U.S. equity positions.
What Is the Connection Between David Einhorn and Kathy Warden?
There is currently no documented direct connection between David Einhorn and Kathy Warden.
A review of their official biographies, corporate roles, SEC filings, board memberships, and Greenlight Capital’s latest disclosed U.S. equity portfolio does not show that they work together, serve on the same corporate board, or have a publicly disclosed business partnership.
The distinction matters because searches combining the names of two high-profile executives or investors can create the impression that a relationship exists even when none has been established.
The available evidence shows:
| Area | David Einhorn | Kathy Warden | Verified Connection? |
|---|---|---|---|
| Main organization | Greenlight Capital | Northrop Grumman | No |
| Primary field | Investment management | Aerospace and defense | No direct link |
| Northrop Grumman executive role | None | Chair, CEO and President | No |
| Greenlight Capital role | Co-founder and President | None | No |
| Shared corporate board identified | None found | None found with Einhorn | No |
| Current Greenlight 13F position in Northrop Grumman | Not reported as of June 30, 2026 | Leads Northrop Grumman | No disclosed position |
Their careers do overlap at a broader level because Einhorn evaluates publicly traded businesses and capital allocation, while Warden runs one of the largest U.S. aerospace and defense companies.
Who Is David Einhorn?
David Einhorn is an American investor best known for co-founding Greenlight Capital in 1996 and developing a value-oriented investment strategy centered on identifying securities he believes are materially mispriced.
Cornell University’s Einhorn Center identifies him as the co-founder and president of Greenlight Capital. He graduated from Cornell University in 1991 and has also served as a Cornell trustee.
Einhorn is also chairman of Greenlight Capital Re and Green Brick Partners. Greenlight Re’s corporate biography confirms that he has served as president of Greenlight Capital since its founding and has been associated with Greenlight Re’s board since 2004.
Einhorn’s Investment Approach
Einhorn is particularly associated with fundamental and value investing. Instead of simply buying companies experiencing rapid share-price growth, Greenlight has historically examined businesses based on factors such as valuation, earnings power, balance sheets, competitive positioning, capital allocation, and situations where market expectations may differ significantly from the firm’s own analysis.
His public reputation has also been shaped by both long investments and short positions, although Form 13F disclosures provide only a limited picture of an investment manager’s overall portfolio.
That limitation is important when examining a possible Einhorn connection to any particular company.
What Greenlight Capital’s Latest SEC Filing Shows
DME Capital Management, the investment manager associated with Greenlight Capital, filed its latest available Form 13F on August 14, 2026, covering positions held as of June 30, 2026.
The filing reported approximately $3.91 billion in securities included in the Form 13F information table.
Among the companies reported were Green Brick Partners, Fluor, Brighthouse Financial, Core Natural Resources, Acadia Healthcare, Centene, PayPal, Warner Bros. Discovery, PG&E, and numerous others. The complete SEC information table does not list Northrop Grumman Corporation.
That means there is no publicly disclosed Northrop Grumman common-stock position in this particular Greenlight-associated 13F portfolio as of June 30, 2026.
What a 13F Filing Does Not Tell Us
A 13F should not be treated as a complete view of a hedge fund’s finances.
These filings primarily disclose certain U.S.-listed securities held by institutional investment managers at the end of a quarter. They generally do not provide a complete picture of:
- short positions
- cash
- many derivatives
- private investments
- some foreign-listed securities
- bonds and other instruments outside 13F reporting requirements
- transactions completed after the quarter ended
Therefore, the filing supports the narrower statement that Northrop Grumman was not among the securities reported in DME Capital Management’s June 30, 2026 13F, rather than proving that Einhorn could never have had any form of exposure to the company.
Who Is Kathy Warden?
Kathy J. Warden is the chair, chief executive officer, and president of Northrop Grumman Corporation.
She has served as CEO and president since January 1, 2019, became chair of the board in 2019, and joined Northrop Grumman’s board in 2018.
Before becoming CEO, Warden served as Northrop Grumman’s president and chief operating officer. She previously led its Mission Systems and Information Systems businesses and held a senior position in its Cyber Intelligence division.
Warden joined Northrop Grumman in 2008. Earlier in her career, she held leadership roles at General Dynamics and Veridian Corporation, worked as a principal in an internet venture, and spent nearly a decade at General Electric.
She earned a bachelor’s degree from James Madison University and an MBA from George Washington University.
Warden’s Other Leadership Roles
Outside Northrop Grumman, Warden serves on the board of Merck & Co. and has held leadership positions in organizations including the Greater Washington Partnership.
Northrop Grumman’s 2026 proxy also notes her involvement with organizations connected to aerospace, business leadership, and economic development.
None of these disclosed roles establishes a shared board position with David Einhorn.
David Einhorn and Kathy Warden Operate in Very Different Roles
The clearest way to understand David Einhorn and Kathy Warden is as leaders working on opposite sides of the public-company ecosystem.
Einhorn allocates investment capital. Warden manages a large operating company.
An investor such as Einhorn studies questions including whether a company’s shares appear undervalued, whether management is allocating capital effectively, how durable earnings may be, and what expectations are already incorporated into the stock price.
Warden’s responsibilities are fundamentally different. She oversees corporate strategy, major defense and aerospace programs, operations, employees, capital spending, customer relationships, government contracting, and shareholder returns at Northrop Grumman.
This creates a conceptual connection between their professional worlds, but not evidence of a direct relationship.
Northrop Grumman Under Kathy Warden in 2026
Northrop Grumman remains one of the largest aerospace and defense contractors in the United States.
Its businesses include Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. Programs span military aircraft, missile systems, sensors, command-and-control technology, strategic deterrence, space systems, and other national-security capabilities.
For the second quarter of 2026, Northrop Grumman reported $10.876 billion in sales, up 5 percent from the same quarter of 2025. The company reported $1.094 billion in quarterly net earnings and diluted earnings per share of $7.68.
Perhaps more significant for understanding the scale of the company, Northrop reported $20 billion in new awards during the quarter, bringing total backlog to a company record of approximately $104.7 billion.
Major awards included funding associated with Sentinel, classified programs, the F-35, Glide Phase Interceptor, and the Multi-role Electronically Scanned Array.
Northrop also increased its 2026 sales guidance in July to a range of $43.75 billion to $44.25 billion.
These figures help explain why Northrop Grumman attracts attention from institutional investors, even though Greenlight’s latest disclosed portfolio does not include the company.
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Kathy Warden’s Compensation
Unlike speculative online estimates of personal net worth, Warden’s executive compensation is publicly documented through Northrop Grumman’s SEC filings.
The company’s 2026 proxy statement reported Warden’s 2025 total compensation at $25,357,443. The figure included salary, stock awards, incentive compensation, pension-related amounts, and other compensation calculated under SEC reporting rules.
That should not be confused with annual cash salary or personal net worth. Her reported 2025 salary component was approximately $1.84 million, while much of the total compensation came from equity and incentive arrangements.
In August 2026, Northrop Grumman also disclosed a special performance-based equity award for Warden involving a target of 35,910 Market Stock Units. The award is tied to long-term share-price performance through December 31, 2031 and generally requires her continued service.
Why Northrop Grumman Could Interest Value Investors
Although there is no evidence that Einhorn currently owns Northrop Grumman through the securities disclosed in Greenlight’s latest 13F, the company contains many characteristics that professional investors routinely analyze.
Large Contract Backlog
A backlog approaching $105 billion offers visibility into future business, although backlog does not guarantee that every dollar will eventually become recognized revenue.
Government Exposure
Northrop’s 2025 annual filing shows that a very large majority of its sales are ultimately linked to the U.S. government. Of approximately $41.95 billion in 2025 sales, around $35.18 billion was categorized as U.S. government sales.
That creates significant exposure to defense budgets, procurement decisions, contract performance, government funding, and shifting national-security priorities.
Complex Long-Term Programs
Programs such as the B-21 Raider and Sentinel can provide substantial long-term revenue opportunities, but large defense projects also involve execution, engineering, cost, scheduling, and contract risks.
Northrop’s second-quarter 2026 results illustrate this tension. Sales rose across all four operating segments, but the company also reported unfavorable cost adjustments on certain programs, including SiAW and the GEM 63XL solid rocket motor program.
For an investment manager, those kinds of details can matter as much as headline revenue growth.
How Their Careers Compare
| Category | David Einhorn | Kathy Warden |
|---|---|---|
| Profession | Investor and investment manager | Corporate executive |
| Primary organization | Greenlight Capital | Northrop Grumman |
| Current primary role | Co-founder and President | Chair, CEO and President |
| Main industry | Hedge funds and investment management | Aerospace, defense and technology |
| Organization joined/founded | Greenlight co-founded in 1996 | Joined Northrop in 2008 |
| Current leadership tenure | Greenlight leader since 1996 | Northrop CEO since 2019 |
| Education | Cornell University | James Madison University; George Washington University |
| Major board roles | Greenlight Re, Green Brick Partners, Cornell and nonprofit organizations | Northrop Grumman, Merck and civic/business organizations |
| Northrop Grumman connection | No current disclosed 13F holding identified | Leads the company |
| Direct relationship between them | Not verified | Not verified |
Are David Einhorn and Kathy Warden Business Partners?
There is no credible evidence that David Einhorn and Kathy Warden are business partners.
Einhorn’s disclosed activities center on Greenlight Capital and companies and organizations where he holds investment, board, or philanthropic roles. Warden’s disclosed responsibilities center on Northrop Grumman, Merck, and several business and industry organizations.
Neither company’s official disclosures identify the other person as a partner.
Does David Einhorn Own Northrop Grumman Stock?
The latest publicly available DME Capital Management Form 13F, covering June 30, 2026, does not report Northrop Grumman shares.
It would be too broad, however, to state that Einhorn personally owns absolutely no Northrop Grumman securities. Public 13F reports have specific reporting boundaries and do not reveal every possible personal or investment-fund position.
The accurate statement is that no Northrop Grumman position appears in the latest Greenlight-associated 13F reviewed for this article.
Why Are People Searching for David Einhorn and Kathy Warden Together?
There is no authoritative source explaining the search trend.
One likely explanation is that both names are associated with influential figures in U.S. public markets. Einhorn is followed for his investment decisions and market commentary, while Warden leads a major publicly traded defense contractor whose shares are closely watched by institutional investors.
Search interest by itself should not be interpreted as evidence of a relationship.
Frequently Asked Questions
Who are David Einhorn and Kathy Warden?
David Einhorn is the co-founder and president of Greenlight Capital, a value-oriented investment firm. Kathy Warden is the chair, CEO, and president of Northrop Grumman, a major U.S. aerospace and defense company.
Are David Einhorn and Kathy Warden connected professionally?
No direct professional relationship has been verified through their official biographies, corporate filings, or other authoritative sources reviewed for this article.
Does Greenlight Capital own Northrop Grumman?
Northrop Grumman does not appear in DME Capital Management’s Form 13F portfolio for the quarter ended June 30, 2026. The filing is only a quarterly snapshot of securities subject to 13F disclosure rules and should not be interpreted as a complete inventory of every investment exposure.
Is David Einhorn on Northrop Grumman’s board?
No. Northrop Grumman’s current corporate leadership and board disclosures do not identify David Einhorn as a director.
When did Kathy Warden become CEO of Northrop Grumman?
Warden became Northrop Grumman’s CEO and president on January 1, 2019. She became chair of the company’s board later in 2019.
What is Kathy Warden’s salary?
Northrop Grumman’s 2026 proxy reported a 2025 base salary of approximately $1.84 million and total SEC-reported compensation of approximately $25.36 million. Total compensation includes stock awards and other components, so it is not equivalent to cash salary or personal income.
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