In this article, we discuss the top 15 stock picks of billionaire Larry Robbins.
Larry Robbins is an American hedge fund manager, philanthropist, and the founder, CEO, and portfolio manager of Glenview Capital, a leading New York-based investment firm. Known for his sharp analytical skills and a focus on the healthcare sector, Robbins has built a reputation as one of the most influential figures in the hedge fund industry. He was born in 1983 and grew up in a middle-class family in New Jersey. He displayed a keen interest in mathematics and analytics from an early age, which later guided his career in finance. Robbins graduated from the Wharton School of the University of Pennsylvania with a degree in economics. While at Wharton, he developed a deep understanding of market structures, investment strategies, and corporate behavior, which became the foundation of his success in the hedge fund world.
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Before founding Glenview Capital, Robbins worked as a portfolio manager at Omega Advisors, a prominent hedge fund founded by Leon Cooperman. In 2000, Larry Robbins founded Glenview Capital, which quickly rose to prominence as one of the most successful hedge funds in the world. The firm specializes in fundamental, research-driven investing and focuses on sectors such as healthcare, technology, and consumer goods. Glenview’s annualized returns have been strong, with some years delivering returns above 20%. As of the end of the third quarter of 2024, Glenview Capital manages approximately $5.7 billion in 13F securities. Robbins is particularly known for his expertise in healthcare investing, where he has consistently identified undervalued opportunities.
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For this article, we selected stocks by combing through the 13F portfolio of Glenview Capital at the end of the third quarter of 2024. Only the companies that have been in the 13F portfolio of the fund consistently for the past three years were selected. These stocks are also popular among other hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Larry Robbins of Glenview Capital
Billionaire Larry Robbins’ Long-Term Stock Picks
15. Rapid Micro Biosystems, Inc. (NASDAQ:RPID)
Number of Hedge Fund Holders: 3
Glenview Capital’s Stake: $487,711
Rapid Micro Biosystems, Inc. (NASDAQ:RPID) creates, sells, validates, and services innovative products for fast, accurate, and efficient detection of microbial contamination. There are several compelling factors that make this company a strong investment. The first is, as per the report for the third quarter of 2024, revenue was $7.6 million, representing a growth of 24% compared to the third quarter of the prior year. This indicates that the company is successfully executing its business strategies, attracting more customers or increasing sales. Secondly, the company has launched the Growth Direct Rapid Sterility application. This innovative solution delivers time-to-organism detection in as little as 12 hours and final time-to-result in as little as one to three days. This capability represents a significant improvement over widely used traditional test methods, which generally require a 14-day endpoint incubation, and provides compelling differentiation when compared to current rapid sterility products.
14. Digimarc Corporation (NASDAQ:DMRC)
Number of Hedge Fund Holders: 13
Glenview Capital’s Stake: $5.3 million
Digimarc Corporation (NASDAQ:DMRC) provides media identification and management solutions to commercial entities and government customers in the United States and internationally. The following key aspects make this company a standout investment. To start with, as per the report for the third quarter of 2024, operating expenses increased to $17.3 million compared to $16.4 million for the third quarter of 2023, primarily reflecting $0.6 million of cash severance costs and $0.4 million of lower labor costs allocated to cost of revenue due to the amount and mix of billable labor hours incurred. Secondly, the company released the GS1-Conformant Resolver standard by GS1, a leading not-for-profit global standards organization. Digimarc pioneered the open standard to provide critical functionality and to help advance industry adoption of the GS1 Digital Link standard. With the GS1-Conformant Resolver standard, a GS1 Digital Link can be redirected to multiple sources of information – creating a universal way for applications to request specific information about a product.
13. Brookdale Senior Living Inc. (NYSE:BKD)
Number of Hedge Fund Holders: 30
Glenview Capital’s Stake: $16.9 million
Brookdale Senior Living Inc. (NYSE:BKD) operates independent living and assisted living facilities, continuing care retirement communities, and skilled nursing. The following key aspects make this company a standout investment. To start with, the report for the third quarter of 2024 showed a significant improvement in cash generation, reflecting strong operational efficiency and profitability. For instance, net cash provided by operating activities increased 45% to $66.5 million, and adjusted free cash flow of $13.9 million was five times the amount for the prior year period. Secondly, the company is acquiring 41 communities currently managed under triple-net leases for $610 million. The acquisition totals 2,789 units in three different portfolios of communities, which may hold investment potential. Moreover, the company aims to improve 2025 cash flows by an expected $15 million through Ventas Lease Amendment with incremental upside in 2026 and beyond.
12. Butterfly Network, Inc. (NYSE:BFLY)
Number of Hedge Fund Holders: 15
Glenview Capital’s Stake: $17.6 million
Butterfly Network, Inc. (NYSE:BFLY) develops, manufactures, and commercializes ultrasound imaging solutions in the United States and internationally. This company emerges as a prime investment opportunity for several reasons. First and foremost, the company delivered quarterly revenue of $20.6 million in the third quarter, representing 33% year-over-year growth, highlighting the company’s increasing market demand and potential for continued expansion. Secondly, the company announced a five-year co-development agreement with Forest Neurotech for next-generation brain-computer interfaces using ultrasound-on-chip technology. Moreover, the company has announced the commercial launch of its third-generation handheld point-of-care ultrasound (POCUS) system, Butterfly iQ3 in Europe. Butterfly iQ3 is powered by the company’s most advanced semiconductor chip.
11. Evolv Technologies Holdings, Inc. (NASDAQ:EVLV)
Number of Hedge Fund Holders: 18
Glenview Capital’s Stake: $19.8 million
Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) provides artificial intelligence-based weapons detection for security screening in the United States and internationally. The following elements demonstrate why this company is an excellent investment choice. First of all, as per the report for the second quarter of 2024, total revenue was $25.5 million, an increase of 29% compared to $19.8 million for the second quarter of 2023. This demonstrates improved business performance and potential for sustained revenue expansion in the future. Secondly, the company’s partnership with Boston Common Golf aims to bring leading security technology and enhanced guest experiences to the new international golf league. Moreover, the company has also announced its partnership with Toyota Center, home of the NBA’s Houston Rockets, aiming to utilize Evolv’s technology to create a safer and more efficient screening process.
10. Myriad Genetics, Inc. (NASDAQ:MYGN)
Number of Hedge Fund Holders: 23
Glenview Capital’s Stake: $34.6 million
Myriad Genetics, Inc. (NASDAQ:MYGN) is a leading genetic testing and precision medicine company dedicated to advancing health and well-being for all. This company presents a solid investment opportunity, supported by the following points. To begin, the report for the third quarter of 2024 showed an 11% increase in revenue year-over-year to $213 million, driven by Pharmacogenomics (34%) and Prenatal (10%) and progress on payor coverage and revenue cycle initiatives. This indicates the company’s successful expansion in key areas and effective execution of strategic initiatives. Secondly, the company’s collaboration with Flatiron Health aims to expand the possibilities of point-of-care solutions in oncology. This collaboration allows physicians to order Myriad’s MyRisk Hereditary Cancer Test and view the results of the test directly in Flatiron’s cloud-based Electronic Medical Record (EMR) platform, OncoEMR. MyRisk is the first hereditary cancer test to be incorporated into Flatiron’s OncoEMR. Moreover, the company has collaborated with GSK, aimed at improving access to homologous recombination deficiency (HRD) diagnostic testing for high-grade serous ovarian cancer (HGSOC) patients.
9. Uber Technologies, Inc. (NYSE:UBER)
Number of Hedge Fund Holders: 136
Glenview Capital’s Stake: $78.7 million
Uber Technologies, Inc. (NYSE:UBER) develops and operates proprietary technology applications worldwide. The firm has featured in the Glenview portfolio consistently since the second quarter of 2021. Back then, the stake consisted of around 460,000 shares purchased at an average price of $52.23. The holding climbed up to more than 4 million shares at one point, but has since declined to around 1 million shares at the end of the third quarter of 2024. Robbins has slashed the fund’s stake in the firm in five of the last seven quarters.
8. US Foods Holding Corp. (NYSE:USFD)
Number of Hedge Fund Holders: 50
Glenview Capital’s Stake: $111.5 million
US Foods Holding Corp. (NYSE:USFD) engages in the marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States. This company presents a solid investment opportunity, supported by the following points. To begin, the report for the third quarter of 2024 showed a 6.8% increase in net sales to $9.7 billion, highlighting strong revenue growth, while the 3.8% rise in total case volume, including a 4.1% increase in independent restaurant case volume. This reflects growing demand, especially from the restaurant sector. Secondly, the company has collaborated with the Military Family Advisory Network (MFAN), contributing $250,000 to support military families affected by food insecurity. This initiative underscores the company’s dedication to community engagement and social responsibility. Moreover, the company has also expanded its CHECK Business Tools program by partnering with Square, a leading financial services and mobile payment company. This collaboration aims to equip restaurants with advanced technology solutions to streamline operations and enhance profitability.
7. Element Solutions Inc (NYSE:ESI)
Number of Hedge Fund Holders: 46
Glenview Capital’s Stake: $122.4 million
Element Solutions Inc (NYSE:ESI) is a diversified producer of high-technology specialty chemical products. This company emerges as a prime investment opportunity for several reasons. First and foremost, as per the report for the third quarter of 2024, net sales reported were $645 million, an increase of 8% on a reported basis or 6% on an organic basis from the third quarter of 2023. This growth signals strong business performance, indicating both expansion in overall sales and solid organic growth, which is important for sustainable long-term success. Secondly, the company has made an agreement to sell its MacDermid Graphics Solutions business to XSYS, a portfolio company of Platinum Equity. This would allow Element Solutions to focus on its core businesses and enhance shareholder value.
6. McKesson Corporation (NYSE:MCK)
Number of Hedge Fund Holders: 57
Glenview Capital’s Stake: $131.9 million
McKesson Corporation (NYSE:MCK) provides healthcare services. The following key aspects make this company a standout investment. To start with, as per the report for the fourth quarter of 2024, consolidated revenues of $76.4 billion increased by 11%, reflecting strong overall sales performance. Also, earnings per diluted share from continuing operations of $6.02 increased by $0.31, showing improved profitability and financial strength, which is positive for investors. Secondly, McKesson’s dedicated business unit, InspiroGene, partnered with Vertex Pharmaceuticals to expand distribution options for CASGEVY, the first CRISPR-based gene-editing therapy approved by the US Food and Drug Administration. This partnership demonstrates a commitment to advancing cell and gene therapies for patients living with debilitating diseases.
5. DXC Technology Company (NYSE:DXC)
Number of Hedge Fund Holders: 30
Glenview Capital’s Stake: $231.8 million
DXC Technology Company (NYSE:DXC) is a multinational information technology (IT) services and consulting company headquartered in Ashburn, Virginia. This company emerges as a prime investment opportunity for several reasons. First and foremost, the report for the fiscal year 2024 showed great financial growth and operational efficiency. For instance, operating cash flow of $1,361 million, less capital expenditures of $605 million, resulted in free cash flow of $756 million, representing the third consecutive year where DXC generated more than $700 million in free cash flow. This indicates that the company is effectively managing its cash, creating value for shareholders, and maintaining flexibility for strategic investments or debt reduction. Secondly, the company has made an agreement with Ferrari to extend their partnership to develop the next generations of Ferrari’s in-vehicle infotainment systems enabling drivers to be closer to the high-performance functionality of Ferrari vehicles. Moreover, DXC Technology has extended a strategic partnership with ServiceNow to fast-track generative AI value for businesses globally. The companies have formed a Center of Excellence, bringing together DXC’s industry and implementation expertise with ServiceNow’s GenAI solutions, to streamline AI adoption for customers.
4. Corteva, Inc. (NYSE:CTVA)
Number of Hedge Fund Holders: 33
Glenview Capital’s Stake: $308.2 million
Corteva, Inc. (NYSE:CTVA) operates in the agriculture business. This company presents a solid investment opportunity, supported by the following points. To begin, a commendable financial growth was witnessed in the report for the third quarter of 2024. For instance, volume increased by 3% as compared to the prior-year period as crop protection growth offset lower seed volumes. Crop protection volume increased 11% over the prior year driven primarily by Latin America and North America’s demand for new products and spinons. This demonstrates the company’s strong demand for innovative offerings in key regions and its ability to adapt to market dynamics and leverage new product introductions for growth. Secondly, the company has collaborated with Pairwise to accelerate the delivery of advanced gene editing solutions to farmers, ultimately benefitting both the environment and everyday consumers. Moreover, the company has further collaborated with BP on the companies’ shared intent to form a crop-based biofuel feedstock joint venture that would produce and deliver crop-based biofuel feedstocks to help meet the anticipated growth in demand for sustainable aviation fuel.
3. The Cigna Group (NYSE:CI)
Number of Hedge Fund Holders: 66
Glenview Capital’s Stake: $364.3 million
The Cigna Group (NYSE:CI) is a global company dedicated to improving health and wellness. The following elements demonstrate why this company is an excellent investment choice. First of all, as per the report for the third quarter of 2024, adjusted income from operations was $2.1 billion, or $7.51 per share, compared with $2 billion, or $6.77 per share, for the third quarter of the prior year, reflecting strong contributions from Evernorth Health Services, particularly within Specialty and Care Services, signaling robust operational efficiency. Secondly, the company has collaborated with Progyny, which will enable employers to offer expanded coverage throughout the entire fertility journey, from pre-conception planning to postpartum care, along with coverage options for family-building services such as surrogacy and adoption. Moreover, the company’s collaboration with HelloFresh offers discounted access to HelloFresh’s affordable meals to as many as 12 million Cigna Healthcare customers. The two companies will also team up to support HelloFresh’s Meals with Meaning.
2. Global Payments Inc. (NYSE:GPN)
Number of Hedge Fund Holders: 66
Glenview Capital’s Stake: $424.1 million
Global Payments Inc. (NYSE:GPN) is a multinational financial technology company that provides payment technology and services to merchants, issuers and consumers. The following elements demonstrate why this company is an excellent investment choice. First of all, as per the report for the third quarter of 2024, adjusted net revenues increased 6% to $2.36 billion, compared to $2.23 billion in the third quarter of the prior year. This reflects rising demand or effective operational execution, which could drive higher profitability and shareholder returns in the future. Secondly, the company has partnered with Google to deliver innovative cloud-based products and capabilities, enabling best-in-class digital merchant customer experiences worldwide. As part of the partnership, Global Payments will migrate its merchant-acquiring technology to Google Cloud and will provide merchant-acquiring services to Google to extend its global market reach. In addition, Global Payments and Google Cloud will be launching a series of strategic go-to-market and co-sell activities together.
1. Tenet Healthcare Corporation (NYSE:THC)
Number of Hedge Fund Holders: 66
Glenview Capital’s Stake: $441.9 million
Tenet Healthcare Corporation (NYSE:THC) is a Texas-based diversified healthcare company. The investment potential of this company can be attributed to several factors. The first of these is the exceptional performance of the company in the report for the third quarter of 2024. For instance, net income available to common shareholders was $472 million, or $4.89 per diluted share, including an after-tax gain of $209 million, or $2.16 per diluted share, primarily associated with previously announced hospital divestitures. The divestiture gains can support reinvestment in strategic areas, improve financial flexibility, or fund shareholder returns, indicating effective capital management. Secondly, Novant Health and Tenet Healthcare Corporation have announced a definitive agreement regarding the acquisition by Novant Health of three Tenet hospitals and affiliated operations in South Carolina. This agreement will help the company to ensure seamless continuity of care for patients, improve revenue cycle services, and enhance access to surgical procedures in convenient and safe outpatient settings.
While we acknowledge the potential of Tenet Healthcare Corporation (NYSE:THC) as an investment, our conviction lies in the belief that some stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a stock that is more promising than Tenet Healthcare Corporation (NYSE:THC) but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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