15 Most Feared Activist Hedge Funds

6. Glenview Capital

Portfolio size: $5.72 billion

Glenview Capital is one of the prominent hedge funds on Wall Street, controlling a portfolio worth about $5.72 billion. The hedge fund made a name for itself in 2013 when it returned 84.2% profit, the highest of any hedge fund. Likewise, it averaged an annualized return of 13.4% between 2003 and 2013, shrugging off the financial crisis that wiped out many hedge funds.

Founded in 2000, the hedge fund oversees several private investment funds, investing in the equity market and pursuing activist targets. Its portfolio includes vast holdings in the healthcare sector, with the service sector accounting for a chunk of the portfolio. Some of the hedge fund’s most significant holdings include Tenet Healthcare Corporation (NYSE:THC) and The Cigna Group (NYSE:CI), which account for about 20% of the portfolio.

Glenview’s approach to investing often involves looking for companies growing at a reasonable rate, known as “GARP,” like Tenet Healthcare Corporation (NYSE:THC). This strategy emphasizes investing in businesses within sectors that are stable and consistent, boasting regular income or strong market dominance.

In its activist campaign at Tenet Healthcare Corporation (NYSE:THC), the activist hedge fund pushed for changing the company’s bylaws to allow shareholders to take action by written consent without a meeting. It also pushed for removing the company’s directors as it sought management changes.