Billionaire Larry Robbins’ investment firm, Glenview Capital Management, made significant changes to its portfolio during the first quarter of 2024. The firm acquired a stake in Broadcom (AVGO) while abandoning its position in Intel (INTC) and increasing holdings in various health insurers. Glenview Capital disclosed these changes in its latest 13F filing for the period ending March 31, 2024.
In the semiconductor industry, Glenview acquired 20,000 shares of Broadcom and sold its 344,000 shares in Intel. The firm also expanded its stake in Marvell Technology, increasing it to 1.37 million shares.
In the healthcare sector, Glenview acquired new positions in Ginkgo Bioworks and Exact Sciences. The firm also increased its holdings in CVS Health, Elevance Health, and Universal Health Services, while reducing its stake in Cigna. Additionally, Glenview exited its position in Cardinal Health and increased its stake in McKesson.
Glenview also made changes to its holdings in generic drug makers, quadrupling its stake in Teva Pharmaceutical Industries while reducing its position in Viatris. The firm also reduced its stakes in Amazon and MetaPlatforms, while acquiring new positions in companies like Array Technologies, Avis Budget, and Wayfair.
Other adjustments included increasing its position in Corteva while reducing stakes in Expedia and Uber Technologies. Larry Robbins’ net worth is currently estimated at $2.2 billion according to Forbes.
Overall, Glenview Capital Management’s 13F filing for the first quarter of 2024 showcased a significant rebalancing of its portfolio, with a focus on semiconductor, healthcare, and various other industries. The firm made strategic decisions to reallocate its investments based on market trends and potential growth opportunities.
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