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Top 5 1st Quarter Trades of Larry Robbins

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May 17, 2022
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Larry Robbins recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Glenview Capital Management, founded in 2000 by Larry Robbins (Trades, Portfolio), is a privately held investment management firm. In its 14th year of operation, Glenview manages approximately $7.4B of assets split between two products: the Glenview Funds (long/short) and the Glenview Opportunity (“GOâ€) Funds (concentrated, opportunistic). Since inception, the compounded annualized rates of return for the Glenview and GO Funds are approximately 15% and 25%, respectively (through January 2014). Glenview is focused on delivering attractive absolute returns through an intense focus on deep fundamental research and individual security selection. Their investments are primarily focused on the US, with a smaller amount of exposure in Western Europe.

As of the latest 13F report, the guru’s equity portfolio contained 60 stocks valued at a total of $4,939,000,000. The top holdings were THC(11.11%), CI(7.74%), and GPN(6.53%).

According to GuruFocus data, these were

Larry Robbins (Trades, Portfolio)’s top five trades of the quarter.

Fiserv Inc


During the quarter,

Larry Robbins (Trades, Portfolio) bought 1,643,595 shares of NAS:FISV for a total holding of 2,142,801. The trade had a 3.37% impact on the equity portfolio. During the quarter, the stock traded for an average price of $101.22.

On 05/17/2022, Fiserv Inc traded for a price of $96.86 per share and a market cap of $62,467,522,000. The stock has returned -15.87% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 9 out of 10.

In terms of valuation, Fiserv Inc has a price-earnings ratio of 37.76, a price-book ratio of 2.00, a price-earnings-to-growth (PEG) ratio of 2.44, a EV-to-Ebitda ratio of 13.99 and a price-sales ratio of 3.87.

The price-to-GF Value ratio is 0.75, earning the stock a GF Value rank of 10.

McKesson Corp


Larry Robbins (Trades, Portfolio) reduced their investment in NYSE:MCK by 603,811 shares. The trade had a 3.2% impact on the equity portfolio. During the quarter, the stock traded for an average price of $271.69.

On 05/17/2022, McKesson Corp traded for a price of $333.7 per share and a market cap of $48,688,661,000. The stock has returned 69.06% over the past year.

GuruFocus gives the company a financial strength rating of 6 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, McKesson Corp has a price-earnings ratio of 46.45, a EV-to-Ebitda ratio of 18.39 and a price-sales ratio of 0.19.

The price-to-GF Value ratio is 1.49, earning the stock a GF Value rank of 1.

Cigna Corp


During the quarter,

Larry Robbins (Trades, Portfolio) bought 486,463 shares of NYSE:CI for a total holding of 1,595,997. The trade had a 2.36% impact on the equity portfolio. During the quarter, the stock traded for an average price of $234.16.

On 05/17/2022, Cigna Corp traded for a price of $269.57 per share and a market cap of $85,793,914,000. The stock has returned 2.69% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Cigna Corp has a price-earnings ratio of 16.76, a price-book ratio of 1.87, a price-earnings-to-growth (PEG) ratio of 0.77, a EV-to-Ebitda ratio of 10.46 and a price-sales ratio of 0.50.

The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 6.

US Foods Holding Corp


During the quarter,

Larry Robbins (Trades, Portfolio) bought 2,800,755 shares of NYSE:USFD for a total holding of 4,419,867. The trade had a 2.14% impact on the equity portfolio. During the quarter, the stock traded for an average price of $36.49.

On 05/17/2022, US Foods Holding Corp traded for a price of $34.53 per share and a market cap of $7,692,921,000. The stock has returned -14.29% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 6 out of 10.

In terms of valuation, US Foods Holding Corp has a price-earnings ratio of 65.42, a price-book ratio of 2.04, a EV-to-Ebitda ratio of 16.36 and a price-sales ratio of 0.26.

The price-to-GF Value ratio is 0.78, earning the stock a GF Value rank of 9.

Bausch Health Companies Inc


Larry Robbins (Trades, Portfolio) reduced their investment in NYSE:BHC by 3,245,486 shares. The trade had a 1.91% impact on the equity portfolio. During the quarter, the stock traded for an average price of $24.48.

On 05/17/2022, Bausch Health Companies Inc traded for a price of $11.015 per share and a market cap of $3,896,537,000. The stock has returned -62.95% over the past year.

GuruFocus gives the company a financial strength rating of 2 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Bausch Health Companies Inc has a EV-to-Ebitda ratio of 10.92 and a price-sales ratio of 0.48.

The price-to-GF Value ratio is 0.45, earning the stock a GF Value rank of 8.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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