Insights from Glenview Capital Management's Latest 13F Filing
Larry Robbins (Trades, Portfolio), the founder of Glenview Capital Management, has made notable adjustments to his investment portfolio in the second quarter of 2024. Established in 2000, Glenview Capital is renowned for its rigorous fundamental research and strategic security selection, primarily focusing on the U.S. market with some exposure to Western Europe. The firm operates through two main investment vehicles: the Glenview Funds and the Glenview Opportunity Funds, aiming for high absolute returns.
Summary of New Buys
In a strategic expansion of his portfolio, Larry Robbins (Trades, Portfolio) has incorporated 9 new stocks in the second quarter of 2024. Key new acquisitions include:
- Centene Corp (CNC, Financial), purchasing 1,431,312 shares, making up 1.87% of the portfolio, valued at $94.9 million.
- WESCO International Inc (WCC, Financial), with 381,766 shares, accounting for approximately 1.19% of the portfolio, totaling $60.5 million.
- Teleflex Inc (TFX, Financial), adding 122,482 shares, which represent 0.51% of the portfolio, with a total investment of $25.8 million.
Key Position Increases
Larry Robbins (Trades, Portfolio) has also increased his stakes in 13 stocks, with significant enhancements in:
- CVS Health Corp (CVS, Financial), where he added an impressive 7,465,959 shares, increasing his total holding to 9,162,389 shares. This adjustment marks a 440.1% increase in share count and impacts the portfolio by 8.68%, with a total value of $541.1 million.
- Global Payments Inc (GPN, Financial), with an additional 730,098 shares, bringing the total to 3,118,320 shares. This represents a 30.57% increase in share count, valued at $301.5 million.
Summary of Sold Out Positions
During this quarter, Larry Robbins (Trades, Portfolio) decided to exit positions in 6 stocks, including:
- Meta Platforms Inc (META, Financial), selling all 109,289 shares, impacting the portfolio by -0.93%.
- Array Technologies Inc (ARRY, Financial), liquidating all 2,204,685 shares, which had a -0.57% impact on the portfolio.
Key Position Reductions
Reductions were made in 18 stocks, with the most notable being:
- Tenet Healthcare Corp (THC, Financial), with a reduction of 1,661,470 shares, decreasing by 26.26% and impacting the portfolio by -3.05%. The stock traded at an average price of $120.38 during the quarter and has seen a return of 19.78% over the past three months and 103.77% year-to-date.
- Universal Health Services Inc (UHS, Financial), reducing by 870,253 shares or 42.36%, with a -2.77% portfolio impact. The stock's average trading price was $176.95 this quarter, with a 24.13% return over the past three months and 45.87% year-to-date.
Portfolio Overview
As of the second quarter of 2024, Larry Robbins (Trades, Portfolio)'s portfolio comprises 48 stocks. The top holdings include 12.22% in Tenet Healthcare Corp (THC), 10.65% in CVS Health Corp (CVS, Financial), and 8.42% in The Cigna Group (CI, Financial). The portfolio is mainly concentrated in eight industries: Healthcare, Technology, Industrials, Basic Materials, Consumer Cyclical, Consumer Defensive, Financial Services, and Communication Services.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
