In this article, we’ll check out the top 9 stocks billionaire Larry Robbins just added to his portfolio, which also happen to be the only nine stocks added to his portfolio during Q4. Click the following link to jump straight to Top 5 Stocks Billionaire Larry Robbins Just Added to His Portfolio.
Amazon.com, Inc. (NASDAQ:AMZN), Activision Blizzard, Inc. (NASDAQ:ATVI), and Alibaba Group Holding Limited (NYSE:BABA) are among the major new additions to billionaire investor Larry Robbins’ 13F portfolio during the fourth quarter.
Larry Robbins is the billionaire founder and CEO of Glenview Capital Management, a New York-based hedge fund that manages $6.13 billion in assets as of August 24, 2021. Prior to founding Glenview, Robbins spent six years at fellow billionaire Leon Cooperman’s Omega Advisors, where he served as an analyst and partner on the fund’s US equity long/short team.
Robbins’ successful hedge fund, which he founded in 2000, is coming off another strong showing in 2021, as it returned 21.1% for the year, including an impressive 10.3% gain in December alone. That performance vaulted Robbins into 13th place on the list of top-earning money managers in 2021, with Bloomberg estimating that he personally took home just over $340 million last year.
Glenview’s yearly performance came on the heels of solid 9.5% gains in 2020 and even heftier 26% returns in 2019. Despite the double-digit gains in December, the fund’s 13F assets declined for the second straight quarter, sliding to $4.69 billion by the end of 2021, down from $6.05 billion in the middle of 2021. Those figures are also well below the fund’s $11.42 billion 13F portfolios from the end of 2019.
Glenview Capital appeared to be somewhat bearish on the market during the fourth quarter of 2021, as it sold out of or reduced the size of 42 of its positions while buying into or adding to the size of just 22 positions. We thought it would be interesting to see which stocks Robbins was bullish enough to buy into during Q4 despite his general bearishness, so in this article, we’ll analyze all nine long positions added to his portfolio during Q4.
Larry Robbins of Glenview Capital
Our Methodology
We took a look at Glenview Capital Management’s latest 13F filing with the SEC to pinpoint the new additions to the fund’s portfolio. We have ranked them based on the value of Glenview’s stake in those new holdings.
We follow hedge funds like Glenview Capital because Insider Monkey’s research has uncovered that their consensus stock picks can deliver outstanding returns.
All hedge fund data is based on the exclusive group of 900+ funds tracked by Insider Monkey that filed 13Fs for the Q4 2021 reporting period.
Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio
9. Evolus, Inc. (NASDAQ:EOLS)
Value of Glenview Capital’s 13F Position: $2.56 million
Number of Hedge Fund Shareholders: 11
Evolus, Inc. (NASDAQ:EOLS) represents the smallest new position that Larry Robbins built during Q4, buying 393,827 shares of the beauty company. Steve Cohen’s Point72 Asset Management also built a new stake in EOLS during Q4, buying 310,600 shares.
Evolus, Inc. (NASDAQ:EOLS) added another 400 new customer accounts during Q4 for its breakthrough facial wrinkles treatment, Jeuveau, while its 7,000 overall accounts have achieved an impressive reorder rate of over 70%. That helped Evolus grow net revenue by 76% in 2021, with the company expecting 43% to 50% growth on top of that in 2022.
Alongside Amazon.com, Inc. (NASDAQ:AMZN), Activision Blizzard, Inc. (NASDAQ:ATVI), and Alibaba Group Holding Limited (NYSE:BABA), Evolus, Inc. (NASDAQ:EOLS) is a very different but equally compelling stock pick that caught Larry Robbins’ eye during Q4.
8. Digimarc Corp. (NASDAQ:DMRC)
Value of Glenview Capital’s 13F Position: $2.96 million
Number of Hedge Fund Shareholders: 12
75,000 shares of Digimarc Corp (NASDAQ:DMRC) were added to the 13F portfolio of Larry Robbins during Q4. Digimarc hasn’t been very popular among hedge funds over the years, but has slowly trended up during the last five quarters, hitting double digit hedge fund ownership for the first time.
Digimarc Corp (NASDAQ:DMRC)’s product identification solutions were bolstered in the fourth quarter with the company’s all-stock acquisition of product cloud company EVRYTHNG Limited. The deal will allow Digimarc to offer a fuller suite of solutions to its customers in terms of tracking and managing their product inventories throughout their lifecycle.
Digimarc Corp (NASDAQ:DMRC) grew revenue by 28% to $7.1 million in the fourth quarter of 2021, thanks to both growing subscription revenue and higher services revenue. However, the company’s operating loss of $8.2 million for the quarter eclipsed its sales by $1.1 million and was 5% higher than a year ago.
7. Evolv Technologies Holdings Inc. (NASDAQ:EVLV)
Value of Glenview Capital’s 13F Position: $3.34 million
Number of Hedge Fund Shareholders: 17
The select group of high performing hedge funds that are tracked in our database owned 12.6% of Evolv Technologies Holdings Inc (NASDAQ:EVLV)’s shares on December 31, 749,461 of which were added to Glenview Capital’s portfolio during Q4.
Evolv Technologies Holdings Inc (NASDAQ:EVLV) shares plunged by 55% between the middle of August and the end of 2021, which may have prompted Larry Robbins and his team to buy into the stock at a discount. EVLV shares have lost another 41.7% so far in 2022 however, as the security company’s recent guidance and initiatives have left investors with more questions than answers.
Evolv Technologies Holdings Inc (NASDAQ:EVLV) plans to transition its customers to a subscription model, with expectations for $27 million to $28 million in annualized recurring revenue from its current customer base. While such a model may prove lucrative in the long-term if Evolv can maintain a high retention rate, the company is likely to lose a lot more money in the near-term as its sales get spread out over a longer period. Evolv expects an operating loss of between $82 million and $84 million this year, nearly 150% greater than its anticipated revenue.
6. Hyperfine, Inc. (NASDAQ:HYPR)
Value of Glenview Capital’s 13F Position: $7.25 million
Number of Hedge Fund Shareholders: 29
Closing out the first half of the list is Hyperfine, Inc. (NASDAQ:HYPR), another intriguing buy-low candidate whose shares got battered late in the fourth quarter, but which offers some compelling upside as it works to disrupt the $23 billion MRI industry.
Hyperfine, Inc. (NASDAQ:HYPR) took part in a rare double-SPAC deal, merging with both Liminal Sciences and the special purpose acquisition company HealthCor Catalio Acquisition last year in a deal valued at $580 million. The deal was financed in part through private backing from several notable hedge funds, including Perceptive Advisors, ARK Investment Management, and Deerfield Management.
Hyperfine, Inc. (NASDAQ:HYPR)’s MRI-on-wheels, Swoop, gained FDA approval in 2020 for noncontrast scans, and the company is developing further innovations and uses for its scanner, including the capability to image a patient’s cervical spine and extremities.
Check out some of Larry Robbins’ biggest new buys of Q4 in the second half of this article, including Amazon.com, Inc. (NASDAQ:AMZN), Activision Blizzard, Inc. (NASDAQ:ATVI), and Alibaba Group Holding Limited (NYSE:BABA).
Click to continue reading and see Top 5 Stocks Billionaire Larry Robbins Just Added to His Portfolio.
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Disclosure: None. Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio is originally published at Insider Monkey.
