How Did Billionaire Larry Robbins’ Top Long-Term Picks Perform Over Years?

#3 Thermo Fisher Scientific Inc. (NYSE:TMO)

– Shares Owned by Glenview Capital (as of December 31): 5.93 million

– Value of Holding (as of December 31): $841.64 million

Thermo Fisher Scientific Inc. (NYSE:TMO) has been a part of Glenview Capital’s portfolio since the second quarter of 2006, when its stock used to trade near the $35 levels. In the period between 2012 and 2015, shares of Thermo Fisher Scientific Inc. (NYSE:TMO) rose gradually and made their lifetime high of $143.65 in late-December last year. While Glenview went against the popular saying of “cut your losses short and let your winners run” during the fourth quarter and reduced its stake in the company by 30%, Billionaire Ken Griffin‘s Citadel Investment Group increased its stake in the company by 25% to 780,000 shares during the same period. Thermo Fisher Scientific Inc.’s stock also saw a notable decline amid a decline in the broader market at the beginning of 2016, but it has recouped those losses in the last couple of weeks and is currently trading very close to its lifetime high. On March 31, the company completed its $1.3 billion acquisition of Affymetrix, Inc. (NASDAQ:AFFX), which it announced in early-January.

#2 HCA Holdings Inc (NYSE:HCA)

– Shares Owned by Glenview Capital (as of December 31): 14.30 million

– Value of Holding (as of December 31): $967 million

Glenview Capital has held a stake in HCA Holdings Inc (NYSE:HCA) since the first quarter of 2011, when the company made its debut on the New York Stock Exchange. However, the fund really displayed its conviction in the stock during the second-half of last year, when shares of HCA Holdings Inc (NYSE:HCA) fell significantly. After increasing its stake in the company by 7% during the third quarter, Glenview Capital again increased it by a whopping 160% during the fourth quarter and became the largest shareholder of  HCA Holdings Inc going into 2016 among funds tracked by us. The fund’s conviction in the stock has been rewarded handsomely this year with shares of HCA Holdings Inc trading up over 15% year-to-date. According to a lot of analysts, HCA Holdings is undervalued right now because it is better positioned than its peers to capitalize on the expansion of Medicaid and despite that it is currently trading at a trailing P/E of 15.79, much below the hospital industry average trailing P/E of 22.42. Richard Perry‘s Perry Capital initiated a stake in the company during the fourth quarter of 2015 by purchasing 3 million shares.

#1 CIGNA Corporation (NYSE:CI)

– Shares Owned by Glenview Capital (as of December 31): 7 million

– Value of Holding (as of December 31): $1 billion

Though shares of CIGNA Corporation (NYSE:CI) fell by over 60% within a year after Glenview Capital initiated a stake in the company in the fourth quarter of 2007, they saw an amazing bull run after the financial crisis, rising tenfold in the period between 2009 and mid-2015. When that bull run ended in late-June last year after Anthem Inc (NYSE:ANTM) announced that it will acquire the company for $54 billion and CIGNA Corporation (NYSE:CI)’s stock started falling, Glenview Capital proceeded to solidify its stake in the company, boosting it by 63% and 53% during the third and fourth quarter, respectively. The Anthem-Cigna deal was approved by the shareholders of both the companies last December, but it is still being scrutinized by antitrust regulators. CIGNA Corporation’s stock currently sports an average rating of ‘Overweight’ and an average price target of $171.14 from the 17 leading analysts on the Street who cover it. With ownership of 2.21 million shares of CIGNA Corporation, D. E. Shaw & Co. trailed Glenview Capital as the largest shareholder of the company at the end of December among the funds in our database.

Disclosure: None