1. Clover Health Investments, Corp. (NASDAQ:CLOV)
Number of Hedge Fund Holders: 23
The Tennessee-based business Clover Health Investments, Corp. (NASDAQ:CLOV) offers older adults Medicare Advantage (MA) insurance products. To give customers a detailed view of the people covered by their plan, the firm makes use of its specialized software, the Clover Assistant. Chamath Palihapitiya, a Canadian venture capitalist of Sri Lankan descent, took the business public in June 2021. Sequoia Capital and Alphabet Inc. (NASDAQ: GOOGL) were additional investors.
The Center for Medicare and Medicaid Services (CMS) of the US Department of Health gave Clover Health Investments Corp. (NASDAQ:CLOV) permission to expand its coverage to 101 more US counties starting in September 2021. Additionally, the CMS raised the PPO plan from Clover Health to 3.5 stars early in October.
At the conclusion of the second quarter of 2021, 23 of the 873 hedge funds that Insider Monkey tracks had holdings in Clover Health Investments, Corp. (NASDAQ:CLOV). The position’s entire worth exceeds $1.4 billion, which is close to 70% of the company’s market capitalization. This illustrates how heavily hedge funds are invested in Clover Health Investments Corp. (NASDAQ:CLOV).
