Glenview Capital's Bold Bet on Apple and Chinese Stocks as Tech Giants See Major Exits
1min read Glenview Capital, a prominent Chinese investor in U.S. stocks, recently disclosed notable shifts in its portfolio as of the end of the third quarter of 2024. The firm, which manages an overseas equity portfolio valued at $3.151 billion, made surprising adjustments to its holdings, signaling potential shifts in its investment strategy.
In a striking move, Glenview Capital substantially increased its stake in Apple Inc., even as Apple's stock saw a more than 10% price increase during the quarter. This decision contrasts sharply with that of other investors who have been reducing their positions in the tech giant. The asset manager also bolstered its investments in companies such as ZTO Express and a selection of Chinese concept stocks, including Tencent Music, Alibaba, and Tal Education, underscoring its growing interest in the potential of these markets.
Simultaneously, Glenview executed significant reductions in other areas of its portfolio. The firm fully divested its shares in Amazon and Tesla, two major players in the e-commerce and electric vehicle sectors, respectively. Additionally, Glenview exited its positions in Li Auto, ASML, and Zhihu, reflecting a cautious stance toward these industries' futures.
Notably, Glenview reduced its holdings in semiconductor titan NVIDIA, a move complemented by a reduction in a semiconductor-focused ETF, suggesting a cautious outlook on the semiconductor sector. In another substantial shift, the firm cut its stake in Microsoft by a remarkable 87%, further indicating its strategic re-evaluation of certain technology investments.
These portfolio adjustments highlight Glenview Capital's strategic decision-making in response to evolving market conditions, as it seeks to balance risk and opportunity in a dynamic global investment landscape.