Short Bets Cut into Gains at Glenview, Other Firms

Larry Robbins’s New York–based firm, along with several other well-known long-short equity firms, would have fared better last year if not for the short side of their portfolios.

Glenview Capital Management’s Opportunity Fund and its offshore counterpart posted a gargantuan 18 percent gain on their long positions in the fourth quarter alone, according to the firm’s fourth-quarter letter to clients, obtained by Alpha. This compares with just a 4.9 percent increase in the S&P 500, including dividends reinvested.

To continue reading, subscribe now to Premium Journalism. Already a subscriber? login.