Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Glenview Capital Boosts Stake in HealthSouth Corp (HLS) to 6.5%

Glenview Capital, led by Larry Robbins, is bullish on HealthSouth Corp (NYSE:HLS) and has raised its stake to 5.90 million shares from 1.70 million shares. According to a filing with the SEC, the position is passive by nature and represents 6.46% of the company’s common stock. HealthSouth Corp (NYSE:HLS) is engaged in providing post-acute healthcare services. Glenview Capital initiated its position in the company during the first quarter of 2015.


Glenview Capital was founded by Larry Robbins in 2000. Previously, Robbins worked as a trader at Leon Cooperman’s Omega Advisors. Glenview Capital returned 301% after fees and expenses between January 2001 and December 2010. During the peak of the financial crisis in 2008, the hedge fund lost about 50%, but quickly got back on its feet the following year, when it posted gains of 82.7%. The market value of Glenview Capital’s public equity portfolio totaled $21.9 billion at the end of March 2015. The fund loves to invest in healthcare stocks, which represents 36% of the fund’s holdings.

Larry Robbins
Larry Robbins
Glenview Capital

We pay attention to hedge funds’ moves because our research has shown that hedge funds are extremely talented at picking stocks on the long side of their portfolios. It is true that hedge fund investors have been underperforming the market in recent years. However, this was mainly because hedge funds’ short stock picks lost a ton of money during the bull market that started in March 2009. Hedge fund investors also paid an arm and a leg for the services that they received. We have been tracking the performance of hedge funds’ 15 most popular stock picks in real time since the end of August 2012. These stocks have returned 123% since then and outperformed the S&P 500 ETF (SPY) by around 67 percentage points (see more details here). That’s why we believe it is important to pay attention to hedge fund sentiment; we also don’t like paying huge fees.

Alabama-based HealthSouth Corp (NYSE:HLS) is a provider of both facility-based and home-based post-acute services in 33 states and Puerto Rico. It has a network of inpatient rehabilitation hospitals, home health agencies, and hospice agencies. The market cap of the company is $4.18 billion.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.