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Hedge Fund Glenview Capital Larry Robbins Buys BMC Software, HCA Holdings, Sealed Air, Sells Aetna Inc., Goodrich Corp., Apple Inc.

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gurufocus

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Hedge fund Glenview Capital Management just reported its third quarter portfolio. The firm is founded by Larry Robbins. According to its shareholder, for the 10-year period ended on Dec. 31, 2010, Glenview Funds gained 301%, while the average hedge fund gained 71% and S&P500 gained just 15%. For the 5-year period ended in 2010, Glenview funds gained 122%, while S&P500 gained just 9% and the average hedge fund gained 18%.

Larry Robins was proud that his firm can “continue to generate attractive risk adjusted returns”. Although he “remains constructive on the investment environment over the medium term supported by attractive valuations, excessive corporate liquidity and a growing economy”, Robbins broadened his short positions in REIS, cruise lines and other travel related equities, companies that derive a significant portion of their revenue from government and healthcare.

Glenview Capital manages about $7 billion, which is split between Glenview Funds, a short fund, and Little Arbor Funds, a multi-strategy fund. Robbins makes his returns making concentrated bets on large cap stocks. In addition, Robbins has been known to take a more activist approach to some of his large bets, voicing concerns about what management is doing and publicly demanding change.

As of 09/30/2011, Glenview Capital owns 58 stocks with a total value of $5.5 billion. These are the details of the buys and sells.

This is the portfolio chart of Larry Robbins. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Larry Robbins's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Larry+Robbins

This is the sector weightings of his portfolio:

Industrials 24.4%
Consumer Services 23.5%
Health Care 21.8%
Technology 16.6%
Financials 9.9%
Consumer Goods 2%
Oil & Gas 1%
Telecom 0.5%
Not Assigned 0.3%


These are the top 5 holdings of Larry Robbins

  1. Life Technologies Corp. (LIFE) - 14,154,289 shares, 10.0% of the total portfolio. Shares added by 10.91%
  2. McKesson Corp. (MCK) - 5,950,413 shares, 7.9% of the total portfolio. Shares added by 9.54%
  3. Crown Castle International Corp. (CCI) - 6,458,296 shares, 4.8% of the total portfolio. Shares added by 8.55%
  4. Tyco International Ltd. (TYC) - 5,924,346 shares, 4.4% of the total portfolio. Shares added by 24.36%
  5. Flextronics International Ltd. (FLEX) - 41,305,334 shares, 4.3% of the total portfolio. Shares added by 9.26%


New Purchase: Sealed Air Corp. (SEE)

Larry Robbins initiated holdings in Sealed Air Corp.. His purchase prices were between $17.02 and $23.85, with an estimated average price of $19.78. The impact to his portfolio due to this purchase was 1.32%. His holdings were 4,318,800 shares as of 09/30/2011.

New Purchase: Laboratory Corp. Of America Holdings (LH)

Larry Robbins initiated holdings in Laboratory Corp. Of America Holdings. His purchase prices were between $78.86 and $99.09, with an estimated average price of $86.66. The impact to his portfolio due to this purchase was 1.11%. His holdings were 768,200 shares as of 09/30/2011.

New Purchase: Liberty Global Inc. (LBTYA)

Larry Robbins initiated holdings in Liberty Global Inc.. His purchase prices were between $33.63 and $47.09, with an estimated average price of $39.85. The impact to his portfolio due to this purchase was 0.65%. His holdings were 979,791 shares as of 09/30/2011.

New Purchase: Pfizer Inc. (PFE)

Larry Robbins initiated holdings in Pfizer Inc.. His purchase prices were between $16.66 and $20.78, with an estimated average price of $18.73. The impact to his portfolio due to this purchase was 0.57%. His holdings were 1,750,000 shares as of 09/30/2011.

New Purchase: Agilent Technologies Inc. (A)

Larry Robbins initiated holdings in Agilent Technologies Inc.. His purchase prices were between $31.08 and $52.38, with an estimated average price of $38.81. The impact to his portfolio due to this purchase was 0.51%. His holdings were 900,000 shares as of 09/30/2011.

New Purchase: Cvs Caremark (CVS)

Larry Robbins initiated holdings in Cvs Caremark. His purchase prices were between $32.06 and $38.54, with an estimated average price of $35.73. The impact to his portfolio due to this purchase was 0.47%. His holdings were 763,800 shares as of 09/30/2011.

New Purchase: Cocacola Enterprises Inc. (CCE)

Larry Robbins initiated holdings in Cocacola Enterprises Inc.. His purchase prices were between $24.56 and $29.82, with an estimated average price of $27.24. The impact to his portfolio due to this purchase was 0.4%. His holdings were 870,837 shares as of 09/30/2011.

New Purchase: The Goldman Sachs Group Inc. (GS)

Larry Robbins initiated holdings in The Goldman Sachs Group Inc.. His purchase prices were between $93.98 and $137.6, with an estimated average price of $117.77. The impact to his portfolio due to this purchase was 0.35%. His holdings were 200,000 shares as of 09/30/2011.

New Purchase: Davita Inc. (DVA)

Larry Robbins initiated holdings in Davita Inc.. His purchase prices were between $62.93 and $89.36, with an estimated average price of $77.1. The impact to his portfolio due to this purchase was 0.26%. His holdings were 223,316 shares as of 09/30/2011.

New Purchase: Pharmaceutical Product Development Inc. (PPDI)

Larry Robbins initiated holdings in Pharmaceutical Product Development Inc.. His purchase prices were between $24.7 and $32.28, with an estimated average price of $28.77. The impact to his portfolio due to this purchase was 0.24%. His holdings were 504,406 shares as of 09/30/2011.

New Purchase: Morgan Stanley (MS)

Larry Robbins initiated holdings in Morgan Stanley. His purchase prices were between $13.06 and $24.2, with an estimated average price of $18.4. The impact to his portfolio due to this purchase was 0.17%. His holdings were 700,000 shares as of 09/30/2011.

New Purchase: Openwave Systems Inc (OPWV)

Larry Robbins initiated holdings in Openwave Systems Inc. His purchase prices were between $1.28 and $2.5, with an estimated average price of $1.87. The impact to his portfolio due to this purchase was 0.03%. His holdings were 1,000,000 shares as of 09/30/2011.

Sold Out: Aetna Inc. (AET)

Larry Robbins sold out his holdings in Aetna Inc.. His sale prices were between $34.55 and $44.89, with an estimated average price of $40.13.

Sold Out: Goodrich Corp. (GR)

Larry Robbins sold out his holdings in Goodrich Corp.. His sale prices were between $80.5 and $121.75, with an estimated average price of $94.21.

Sold Out: Apple Inc. (AAPL)

Larry Robbins sold out his holdings in Apple Inc.. His sale prices were between $349.43 and $413.45, with an estimated average price of $381.98.

Sold Out: Wellpoint Inc. (WLP)

Larry Robbins sold out his holdings in Wellpoint Inc.. His sale prices were between $57.01 and $80.22, with an estimated average price of $66.91.

Sold Out: Unitedhealth Group Inc. (UNH)

Larry Robbins sold out his holdings in Unitedhealth Group Inc.. His sale prices were between $41.85 and $53.13, with an estimated average price of $48.31.

Sold Out: Bank Of America Corp. (BAC)

Larry Robbins sold out his holdings in Bank Of America Corp.. His sale prices were between $6.06 and $11, with an estimated average price of $8.26.

Sold Out: Hartford Financial Svcs. (HIG)

Larry Robbins sold out his holdings in Hartford Financial Svcs.. His sale prices were between $15.82 and $27.03, with an estimated average price of $20.4.

Sold Out: Apollo Group Inc. (APOL)

Larry Robbins sold out his holdings in Apollo Group Inc.. His sale prices were between $40.42 and $53.86, with an estimated average price of $46.92.

Sold Out: Metlife Inc. (MET)

Larry Robbins sold out his holdings in Metlife Inc.. His sale prices were between $26.82 and $44.27, with an estimated average price of $35.25.

Sold Out: Hewlettpackard Co. (HPQ)

Larry Robbins sold out his holdings in Hewlettpackard Co.. His sale prices were between $22.32 and $37.47, with an estimated average price of $29.45.

Sold Out: Microsoft Corp. (MSFT)

Larry Robbins sold out his holdings in Microsoft Corp.. His sale prices were between $24.05 and $28.08, with an estimated average price of $26.18.

Sold Out: Computer Sciences Corp. (CSC)

Larry Robbins sold out his holdings in Computer Sciences Corp.. His sale prices were between $26.03 and $38.27, with an estimated average price of $31.75.

Sold Out: Chimera Investment (CIM)

Larry Robbins sold out his holdings in Chimera Investment. His sale prices were between $2.84 and $3.52, with an estimated average price of $3.11.

Sold Out: Tellabs Inc. (TLAB)

Larry Robbins sold out his holdings in Tellabs Inc.. His sale prices were between $3.69 and $4.65, with an estimated average price of $4.16.

Added: Bmc Software Inc. (BMC)

Larry Robbins added to his holdings in Bmc Software Inc. by 77.71%. His purchase prices were between $37.48 and $56.5, with an estimated average price of $44.06. The impact to his portfolio due to this purchase was 1.74%. His holdings were 5,630,062 shares as of 09/30/2011.

Added: Hca Holdings (HCA)

Larry Robbins added to his holdings in Hca Holdings by 142.73%. His purchase prices were between $17.66 and $34.61, with an estimated average price of $23.95. The impact to his portfolio due to this purchase was 1.7%. His holdings were 7,844,267 shares as of 09/30/2011.

Added: Lincare Holdings Inc. (LNCR)

Larry Robbins added to his holdings in Lincare Holdings Inc. by 81.92%. His purchase prices were between $20.13 and $30.3, with an estimated average price of $23.6. The impact to his portfolio due to this purchase was 1.04%. His holdings were 5,631,403 shares as of 09/30/2011.

Added: Life Technologies Corp. (LIFE)

Larry Robbins added to his holdings in Life Technologies Corp. by 10.91%. His purchase prices were between $35.84 and $52.27, with an estimated average price of $43.08. The impact to his portfolio due to this purchase was 0.98%. His holdings were 14,154,289 shares as of 09/30/2011.

Added: Fiserv Inc. (FISV)

Larry Robbins added to his holdings in Fiserv Inc. by 52.81%. His purchase prices were between $49.5 and $65.22, with an estimated average price of $56.5. The impact to his portfolio due to this purchase was 0.9%. His holdings were 2,804,616 shares as of 09/30/2011.

Added: Comcast Corp. (CMCSA)

Larry Robbins added to his holdings in Comcast Corp. by 224.18%. His purchase prices were between $19.78 and $25.97, with an estimated average price of $22.55. The impact to his portfolio due to this purchase was 0.89%. His holdings were 3,369,200 shares as of 09/30/2011.

Added: Tyco International Ltd. (TYC)

Larry Robbins added to his holdings in Tyco International Ltd. by 24.36%. His purchase prices were between $37.81 and $50.09, with an estimated average price of $43.45. The impact to his portfolio due to this purchase was 0.87%. His holdings were 5,924,346 shares as of 09/30/2011.

Added: Lowes Cos. (LOW)

Larry Robbins added to his holdings in Lowes Cos. by 79.43%. His purchase prices were between $18.11 and $23.99, with an estimated average price of $20.77. The impact to his portfolio due to this purchase was 0.71%. His holdings were 4,513,645 shares as of 09/30/2011.

Added: Mckesson Corp. (MCK)

Larry Robbins added to his holdings in Mckesson Corp. by 9.54%. His purchase prices were between $70.91 and $84.87, with an estimated average price of $78.29. The impact to his portfolio due to this purchase was 0.69%. His holdings were 5,950,413 shares as of 09/30/2011.

Added: American Tower Corp. Cl A (AMT)

Larry Robbins added to his holdings in American Tower Corp. Cl A by 30.36%. His purchase prices were between $46.35 and $55.21, with an estimated average price of $52.49. The impact to his portfolio due to this purchase was 0.57%. His holdings were 2,469,950 shares as of 09/30/2011.

Added: General Motors (GM)

Larry Robbins added to his holdings in General Motors by 56.76%. His purchase prices were between $20.24 and $31.8, with an estimated average price of $25.39. The impact to his portfolio due to this purchase was 0.39%. His holdings were 2,899,800 shares as of 09/30/2011.

Added: Crown Castle International Corp. (CCI)

Larry Robbins added to his holdings in Crown Castle International Corp. by 8.55%. His purchase prices were between $38.7 and $43.91, with an estimated average price of $42.15. The impact to his portfolio due to this purchase was 0.38%. His holdings were 6,458,296 shares as of 09/30/2011.

Added: Flextronics International Ltd. (FLEX)

Larry Robbins added to his holdings in Flextronics International Ltd. by 9.26%. His purchase prices were between $5.15 and $7.01, with an estimated average price of $5.91. The impact to his portfolio due to this purchase was 0.36%. His holdings were 41,305,334 shares as of 09/30/2011.

Added: Babcock & Wilcox Co. (BWC)

Larry Robbins added to his holdings in Babcock & Wilcox Co. by 49.05%. His purchase prices were between $18.54 and $27.51, with an estimated average price of $22.94. The impact to his portfolio due to this purchase was 0.34%. His holdings were 2,893,689 shares as of 09/30/2011.

Added: Thermo Fisher Scientific (TMO)

Larry Robbins added to his holdings in Thermo Fisher Scientific by 6.14%. His purchase prices were between $49.77 and $65.57, with an estimated average price of $56.29. The impact to his portfolio due to this purchase was 0.23%. His holdings were 4,322,964 shares as of 09/30/2011.

Added: Health Management Associates Inc. Cl A (HMA)

Larry Robbins added to his holdings in Health Management Associates Inc. Cl A by 33.01%. His purchase prices were between $6.61 and $11.17, with an estimated average price of $8.4. The impact to his portfolio due to this purchase was 0.19%. His holdings were 6,044,193 shares as of 09/30/2011.

Added: Target Corp. (TGT)

Larry Robbins added to his holdings in Target Corp. by 5.5%. His purchase prices were between $46.44 and $52.76, with an estimated average price of $50.34. The impact to his portfolio due to this purchase was 0.18%. His holdings were 3,833,282 shares as of 09/30/2011.

Added: Clearwire Corp. (CLWR)

Larry Robbins added to his holdings in Clearwire Corp. by 29.7%. His purchase prices were between $1.42 and $3.91, with an estimated average price of $2.72. The impact to his portfolio due to this purchase was 0.15%. His holdings were 15,228,264 shares as of 09/30/2011.

Added: Meritor (MTOR)

Larry Robbins added to his holdings in Meritor by 16.03%. His purchase prices were between $6.63 and $17.12, with an estimated average price of $10.61. The impact to his portfolio due to this purchase was 0.15%. His holdings were 8,683,796 shares as of 09/30/2011.

Added: Wyndham Worldwide (WYN)

Larry Robbins added to his holdings in Wyndham Worldwide by 26.33%. His purchase prices were between $25.38 and $35.4, with an estimated average price of $31.65. The impact to his portfolio due to this purchase was 0.13%. His holdings were 1,195,473 shares as of 09/30/2011.

Added: Lifepoint Hospitals Inc. (LPNT)

Larry Robbins added to his holdings in Lifepoint Hospitals Inc. by 52.8%. His purchase prices were between $29.16 and $40.43, with an estimated average price of $35.55. The impact to his portfolio due to this purchase was 0.13%. His holdings were 578,800 shares as of 09/30/2011.

Added: Seagate Technology (STX)

Larry Robbins added to his holdings in Seagate Technology by 23.73%. His purchase prices were between $10.08 and $16.99, with an estimated average price of $12.87. The impact to his portfolio due to this purchase was 0.09%. His holdings were 2,607,300 shares as of 09/30/2011.

Reduced: Expedia Inc. (EXPE)

Larry Robbins reduced to his holdings in Expedia Inc. by 71.54%. His sale prices were between $26.53 and $31.69, with an estimated average price of $29.32. The impact to his portfolio due to this sale was -2.01%. Larry Robbins still held 2,042,674 shares as of 09/30/2011.

Reduced: State Street Corp. (STT)

Larry Robbins reduced to his holdings in State Street Corp. by 72.5%. His sale prices were between $30.94 and $46.84, with an estimated average price of $37.32. The impact to his portfolio due to this sale was -0.88%. Larry Robbins still held 550,000 shares as of 09/30/2011.

Reduced: Citigroup Inc. (C)

Larry Robbins reduced to his holdings in Citigroup Inc. by 23.15%. His sale prices were between $23.96 and $42.63, with an estimated average price of $32.61. The impact to his portfolio due to this sale was -0.55%. Larry Robbins still held 3,252,710 shares as of 09/30/2011.

Reduced: Family Dollar Stores Inc. (FDO)

Larry Robbins reduced to his holdings in Family Dollar Stores Inc. by 30.68%. His sale prices were between $45.14 and $55.14, with an estimated average price of $51.76. The impact to his portfolio due to this sale was -0.26%. Larry Robbins still held 829,089 shares as of 09/30/2011.

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gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

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