Glenview headlines Top Healthcare & Biotech Hedge Fund Rankings as Previous Number One – Viking Global – Falls Off List

July 20th, 2015
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The most recent Top Healthcare, Pharma and Biotech Focused Hedge Fund list has been released, revealing a new number one – Glenview Capital Management. Glenview, which previously held the second spot, moved up to number one after both recording a 10% increase in equity assets over the quarter and receiving a little help from Viking Global.

Glenview, a GARP investor, currently invests nearly 40% of its assets in healthcare and biotech. Glenview’s sector favorites include Thermo Fisher Scientific (TMO), Tenet Healthcare Corp (THC), and Community Health Systems Inc (CYH). Notably, Glenview trimmed its TMO position by nearly 1/3, reducing its position from $1.5B to less than $1B. Glenview’s positions in THC and CYH were unchanged over the quarter.

Meanwhile, Viking, last quarter’s number one, fell off the list after liquidating a number of significant positions and no longer surpassing the 35% portfolio allocation threshold. Over the last quarter, Viking liquidated its investments in the following Healthcare, Pharmaceutical and Biotechnology equities: Allergan Inc (AGN; $418M); Salix Pharmaceuticals (SLXP; $200M); Shire PLC (SHPG; $113M) and Acadia Pharmaceuticals (ACAD; $94M), among others. As a result of the position closures, less than 20% of Viking’s equity assets are now invested in healthcare and biotech.

Renowned investor John Paulson’s hedge fund firm inched up to the second spot on the Top Healthcare, Pharma and Biotech List, after having joined the list for the very first time last quarter. Paulson’s top sector positions include: Shire Plc (SHPG), Mallinckrodt Plc (MNK), Salix Pharmaceuticals (SLXP), and Mylan Inc (MYL).

This quarter’s list welcomed a new long/short equity fund betting on the sector – Highline Capital Management. Highline Capital is a hedge fund manager founded in 1995 by Jacob Doft, who was previously with Blackstone Alternative Asset Management. Highline’s most prominent sector positions include Abbvie Inc (ABBV); Community Health Systems (CYH); Universal Health Services (UHS) and Biogen Idec Inc (BIIB).

This quarter’s list boasts 22 healthcare-focused funds, including OrbiMed Advisors and Baker Bros Advisors LLC, number 4 and 5 on the list, respectively. OrbiMed focuses on the global health sciences industry and was co-founded in 1989 by Samuel Isaly through its predecessor organization, Mehta & Isaly. Orbimed manages assets across a family of hedge funds, venture capital funds and other investment vehicles, as well as serving as a sub-advisor to the Eaton Vance Worldwide Health Sciences and the Finsbury Worldwide Pharmaceutical mutual funds.

Ranking Methodology: The Top Healthcare, Pharmaceutical and Biotechnology Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms’ overall U.S. equity assets under management. The list includes the top hedge funds that have more than 35% of their U.S. equity assets invested in U.S. listed Healthcare, Pharma & Biotech companies. To view the Top Healthcare, Pharma & Biotech Hedge Fund list in its entirety, please visit HedgeTracker’s Hedge Fund Portal.
For Detailed Investor Profiles on these Investors, click below:
Glenview Capital Management
Highline Capital Management
OrbiMed Advisors
Paulson & Co.
Viking Global Investors
Related People: Andreas Halvorsen; Andrew Hoine; Brian Olson*; David Ott; Jacob Doft; John Paulson; Larry Robbins; Mena Gerowin*; Mike Barr; Samuel Isaly; Sheru Chowdhry; Stuart Merzer
Related Entities: Caduceus Asia Partners LP; Caduceus Capital LP; Eaton Vance Worldwide Health Sciences; Finsbury Worldwide Pharmaceutical; GCM Little Arbor Institutional Partners; GCM Little Arbor Master; GCM Little Arbor Partners; Glenview Capital Master; Glenview Capital Partners; Glenview Institutional Partners; Highline Capital International; Highline Capital Partners; Highline Capital Partners QP; Highline Select; OrbiMed Associates; OrbiMed Capital; Paulson Advantage Master Ltd; Paulson Advantage Plus Master Ltd; Paulson Real Estate Recovery Fund; Paulson Recovery Fund; PCI; Tiger Management*; Viking Global Equities; Viking Global Equities III; Viking Global Investors LP
Related Article Tags: Investment Management, Fund Manager and General Financial News

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