Billionaire Larry Robbins’ Top 5 Stock Picks

4. Cigna Corporation (NYSE: CI)

The health care insurance and services provider Cigna Corporation (NYSE: CI) is the fourth largest stock holding of Glenview Capital, accounting for 6.46% of the overall portfolio. The hedge fund has slightly raised its stake in the insurance and services provider in the latest quarter. Billionaire Larry Robbins’ hedge fund first initiated a position in Cigna Corporation in 2007.

Avenir Capital, which has generated 7% growth in market value, commented on the underperformance of Cigna stock in the shareholders’ letter.

“The only material detractor for the quarter was Cigna, a U.S. healthcare stock, which declined 9.7% as the U.S. moved closer to the election and Joe Biden’s chances of winning the presidency increased, along with the possibility of the Democrats gaining control of the senate. Investors sold U.S. healthcare stocks due to increased fears of unfavourable policy change and following a well-established pattern of healthcare stocks underperforming leading up to an election and then materially outperforming after the election.”