Top 5 Stocks in Larry Robbins’ Portfolio

3. Fiserv Inc (NASDAQ:FISV)

Number of Hedge Fund Holders:64
Percentage of Glenview Capital’s Portfolio:5.33%

Headquartered in Brookfield, Wisconsin, Fiserv Inc (NASDAQ:FISV) has carved a niche in offering financial technology services to clients across the financial services sector, including banks, credit unions, and security brokers. It also provides technology infrastructure that allows merchants to accept card payments.

Fiserv Inc (NASDAQ:FISV) is up by more than 24% for the year benefiting from the easing of pressure in the financial sector and the high-interest rate environment that has made banks’ stocks and the entire sector attractive.

Glenview Capital holds 2.15 million shares in Fiserv Inc (NASDAQ:FISV), which is worth over $243.10 million, representing 5.33% of its portfolio.

According to Insider Monkey’s database, 64 hedge funds owned stakes in the company at the end of the first quarter, down from 65 in the preceding quarter. Harris Associates held the biggest stake in Fiserv Inc (NASDAQ:FISV) at the end of Q1 2023 with 17.36 shares.

Renaissance Investment Management made the following comment about Fiserv, Inc. (NASDAQ:FISV) in its Q4 2022 investor letter:

“We made one change to the portfolio in the fourth quarter, adding a new position in the Information Technology sector with Fiserv, Inc. (NASDAQ:FISV), a leading financial services technology company that facilitates the movement of money, helping to run the financial operations of banks and merchants. The company enjoys a leading market position in a rational oligopoly in which the top three companies control 70% of the entire market. We also like the company’s strategy of being a “one-stop-shop” for banks and merchants, resulting in a large financial platform that has the operating scale to outcompete smaller rivals and a recurring revenue model that is highly attractive in uncertain macroeconomic environments.”