Glenview Says Stock Valuations Went From Great To Good

After being the target of protesters upset with his hedge fund’s exposure to certain health care stocks, Larry Robbins might be having the last laugh as Glenview Capital Management’s Opportunity Fund delivered 7.2 percent return for U.S. investors in the first quarter, significantly outperforming the S&P 500.

Glenview's long exposure is standout, particularly in healthcare, as volatility drops

Glenview’s long positions in the portfolio were the standout, up 10.18 percent on a gross basis, according to a May 19 investor letter reviewed by ValueWalk. Like many long / short relative value stock pickers, during bull markets the key to success is limiting the short side of the market, and here Robbins delivered as well. Equity short performance was down -3.01...