UNH - Larry Robbins' Glenview Capital exits Alibaba in Q2 picks up stake in Warner Bros.

2023-08-15 16:57:12 ET

Billionaire Larry Robbins' Glenview Capital Management in Q2 2023 exited its stakes in Chinese e-commerce giant Alibaba ( NYSE: BABA ) and Google-parent Alphabet ( NASDAQ: GOOG ) ( NASDAQ: GOOGL ), while picking up new positions in IT services provider Hewlett Packard Enterprise ( NYSE: HPE ) and entertainment company Warner Bros. Discovery ( NASDAQ: WBD ).

Glenview Capital disclosed the information in its latest 13F filing for the three months ended June 30, 2023, published on Monday.

The hedge fund in Q2 disposed off its stakes of 403K American depositary shares in Alibaba ( BABA ) and about 317K shares in Alphabet's ( GOOGL ) class A capital stock.

Meanwhile, Glenview snapped up 1.25M shares in Hewlett Packard Enterprise ( HPE ) in Q2 and 1.62M shares of series A common stock in Warner Bros. ( WBD ).

Among other notable moves, the hedge fund in Q2 cut stakes in videogame publisher Activision Blizzard ( ATVI ) to about 684K shares from around 839K shares in Q1; in tech and retail giant Amazon ( AMZN ) to 100K shares from ~455K shares; in parcel delivery firm FedEx ( FDX ) to 96K shares from 163K shares; and in ride-hailing leader Uber ( UBER ) to 1.56M shares from 2.98M shares.

Moves in healthcare sector stocks:

Glenview in Q2 took a new stake of 1.77M shares in Bausch Health Companies ( BHC ), while shedding the following positions: ~278K shares in drug distributor AmerisourceBergen ( ABC ); 276K shares in kidney dialysis services provider DaVita ( DVA ); 50K shares in diagnostics company Labcorp ( LH ); and ~12K shares and ~37K shares in health insurance firms Elevance Health ( ELV ) and UnitedHealth ( UNH ), respectively.

The hedge fund trimmed its holding in drug distributor McKesson ( MCK ) to 378K shares in Q2 from about 640K shares in Q1 2023, and cut its stakes in hospital operators HCA Healthcare ( HCA ) and Tenet Healthcare ( THC ) to 264K shares and 6.47M shares, respectively, from 452K shares and 7.27M shares.

Glenview added to its position in drug distributor Cardinal Health ( CAH ) to 257K shares in Q2 from 141K in Q1. Furthermore, the fund raised its stake in health insurer Cigna ( CI ) to 2.07M shares from 1.85M, and in hospital operator Universal Health Services ( UHS ) to 1.41M class B shares from 862K.

According to Forbes, Larry Robbins' real time net worth is $1.9B.

More on 13F filings

• Coatue Management takes new stake in Oracle, exits GameStop, trims Tesla, adds to Amazon
• SoftBank increases bet on WeWork in Q2, exits Innoviz, Ivanhoe Electric
• Icahn boosts stake in Icahn Enterprises, Southwest Gas; exits Cheniere Energy
• Warren Buffett's Berkshire builds stakes in homebuilders DHI, NVR, Lennar

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