Billionaire Larry Robbins Knows How To Pick Mega-Cap Stocks

Glenview Capital Management held 371,849 class A shares of Alphabet Inc (NASDAQ:GOOGL) worth $298.9 million at the end of the third quarter. This stock has registered a gain of 4% over the last year. Other funds having large stakes in Alphabet Inc (NASDAQ:GOOGL) included Andreas Halvorsen’s Viking Global and Ken Fisher’s Fisher Asset Management. The technology giant posted strong third quarter results with revenues beating analyst estimates and announced a $7 billion stock buyback program in October. Alphabet Inc (NASDAQ:GOOGL) enjoys a strong competitive advantage in the form of a dominant internet search product. Its core advertising business should also benefit from increasing mobile searches and video streaming. The stock is a favorite among hedge funds in our database. A total of 137 funds held $14.78 billion worth of Alphabet Inc (NASDAQ:GOOGL)’s shares as at the end of September, versus 135 funds owning $11.55 billion worth of stock in the quarter earlier.

In Charter Communications, Inc. (NASDAQ:CHTR), Glenview Capital cut its stake by 353,850 shares to 672,597 shares worth $181.58 million during the third quarter. Charter Communications, Inc. (NASDAQ:CHTR) was also the largest holding of Stephen Mandel’s Lone Pine Capital, with the fund holding 5.25 million shares worth more than $1.4 billion at the end of September. The company which is now the second-largest broadband provider in USA reaches 49 million homes and businesses. The stock is currently trading near its 52-week high and has a ‘Buy’ rating from most analysts covering the stock. Though the number of funds from our database owning shares of Charter Communications, Inc. (NASDAQ:CHTR) decreased to 112 from 134 in the second quarter, the value of their holdings went up to $18.47 billion from $18.43 billion quarter over quarter.

Glenview Capital also owned 1.8 million shares of E I Du Pont De Nemours And Co (NYSE:DD) worth $122.02 million at the end of September. The stock of the science and technology company operates in six segments. Mason Hawkins’ Southeastern Asset Management also held 4.16 million shares of E I Du Pont De Nemours worth more than $278 million. Back in October, E I Du Pont De Nemours And Co (NYSE:DD) posted earnings of $0.34 per share, which were higher than the expected $0.21 per share, and revenue of $4.92 billion for the third quarter, versus the consensus estimate of $4.87 billion. Though the number of funds tracked by us long  I Du Pont De Nemours And Co (NYSE:DD) remained constant at 36 during the third quarter, the value of their holdings declined to $3.46 billion from $3.52 billion.

Disclosure: None