According to three regulatory filings submitted at market close yesterday, the billionaire upped his stake in three separate companies on that date. He now owns more than 5% of each.
So what's he buying?
Avis Budget Group (CAR)
There's something about... the car rental space? According to billionaires including Carl Icahn and Chase Coleman, apparently. And it looks like Larry Robbins is in agreement. The billionaire picked up an additional 1.5 million Avis Budget Group shares on Dec. 10, bringing his total to 5.44 million. According to the 13G filed Monday, he now owns 5.12% of the car rental and sharing company.
Robbins invested in Avis during the first quarter of the year and has increased his position each subsequent quarter. He's watched the stock soar in 2014, its price climbing 45.10% for the year to date.
For competitor Hertz (HTZ) , the story has been quite different. Its price has declined 18% for the year to date, and not even Carl Icahn has been able to turn it around. The billionaire disclosed an 8.50% stake in the company on Aug. 20 and, at the same time, indicated a potential activist push could be under way. By Sept. 11, Hertz had handed over three board seats, and in late November Icahn upped his ante yet again.