Gabriel Plotkin’s Melvin Capital Portfolio: Top 5 Picks

4. Laboratory Corporation of America Holdings (NYSE:LH)

Mr. Plotkin’s Stake Value: $537 million

Percentage of Mr. Plotkin’s 13F Portfolio: 3.09%

Number of Hedge Fund Holders: 53

By the end of the second quarter of this year, Mr. Plotkin’s investment firm held 1.9 million shares of Laboratory Corporation of America Holdings (NYSE:LH) that were worth $537 million and which represented 3.09% of the fund’s portfolio. At the same time, 53 of the 873 hedge funds polled by Insider Monkey held a stake in the company.

The company’s largest shareholder after Melvin Capital is Andreas Halvorsen’s Viking Global who owns 1.3 million shares worth $378 million.

In its second-quarter 2021 investor letter, Broyhill Asset Management mentioned Laboratory Corporation of America Holdings (NYSE:LH). Here is what the fund said:

“Analysts continued ratcheting up full-year earnings estimates for Lab Corp (LH) driving the stock steadily higher. Despite strong year-to-date gains, shares of the company are trading at lower valuations today than before the pandemic as earnings estimates have outpaced their rising stock prices. Notably, consensus estimates for Lab Corp have nearly doubled over the past year as analysts have been slow to recognize the impact of increased testing volumes on fundamentals.”