Glenview Capital Management Sells $71 Million of Alight Stake After Stock's 71% Drop

Glenview Capital Management, LLC cut its stake in Alight, Inc. (NYSE:ALIT) by 4,004,556 shares in the third quarter, reducing exposure by an estimated $71.57 million, according to a November 14, 2025, SEC filing.

What Happened

According to a Securities and Exchange Commission (SEC) filing dated November 14, 2025, Glenview Capital Management, LLC sold 4,004,556 shares of Alight during the third quarter. Following the transaction, the fund reported holding 20,377,772 shares worth $66.43 million as of September 30, 2025.

What Else to Know

The sale reduced Alight to 1.48% of Glenview's 13F reportable assets under management; the position was previously 3.87% of AUM as of the prior quarter.

Top five holdings after the filing:

• NYSE:CVS: $617.96 million (13.8% of AUM)
• NYSE:THC: $471.80 million (10.5% of AUM)
• NYSE:GPN: $427.19 million (9.5% of AUM)
• NYSE:TEVA: $337.19 million (7.5% of AUM)
• NASDAQ:GTM: $201.89 million (4.5% of AUM)

As of December 5, 2025, shares of Alight were priced at $2.08, down 70.8% over the past year, underperforming the S&P 500 by 84.7 percentage points.

Company Overview

Company Snapshot

• Offers integrated digital human capital and business solutions, including benefits administration, healthcare navigation, financial health, payroll, and cloud-based professional services.
• Generates revenue through a mix of recurring employer solutions, consulting, and hosted service contracts, leveraging a cloud-based delivery model.
• Targets large enterprises and organizations seeking to optimize employee wellbeing, benefits, and payroll processes worldwide.

Alight, Inc. is a technology-driven provider of cloud-based human capital and business solutions, serving a global client base from its headquarters in Lincolnshire, Illinois. The company’s strategy centers on delivering integrated platforms that streamline benefits, payroll, and employee wellbeing, positioning itself as a partner for organizations aiming to enhance workforce performance. With a differentiated suite of digital solutions and a focus on recurring service revenue, Alight competes by enabling clients to achieve operational efficiency and improved employee outcomes.

Foolish Take

According to a recent filing with the SEC, Glenview Capital Management, a New York-based hedge fund, reduced its stake in Alight stock to the tune of $71 million. Here's what investors need to know about this transaction.

First, a little about Glenview Capital Management. In short, Glenview is a major hedge fund, with nearly $4.5 billion in assets under management (AUM). The fund specializes in the healthcare, technology, and consumer sectors, with a reliance on fundamental research to identify undervalued stocks.

However, that approach doesn't always pay off -- which seems to be what has occurred with Alight. All told, Alight stock has crashed over the last year, losing 71% of its value. Overall, Alight's decline coincides with the rise of artificial intelligence (AI), and fears that AI systems will take market share from traditional software companies that provide services for payroll, human resources, and benefits.

Indeed, over the last three years, Alight's revenue has declined by 26%. What's more, the company is also in the midst of a CEO transition, with a new leader expected to take over in January 2026.

The bottom line? Alight is in free fall, which explains why a major institutional holder like Glenview appears headed for the exit. Average investors should take note and should exercise caution with Alight stock.

Glossary

13F: A quarterly SEC filing by institutional investment managers disclosing their equity holdings.
AUM (Assets Under Management): The total market value of investments managed by a fund or investment firm.
Dividend Yield: A financial ratio showing how much a company pays in dividends each year relative to its share price.
TTM: The 12-month period ending with the most recent quarterly report.
Cloud-based: Services or software delivered over the internet rather than installed locally on computers.
Benefits Administration: Managing employee benefits programs, such as health insurance and retirement plans, for organizations.
Hosted Service Contracts: Agreements where a provider manages and delivers software or services remotely for clients.
Human Capital: The collective skills, knowledge, and experience possessed by an organization's employees.
Professional Services: Specialized business support services, such as consulting or advisory work, provided to organizations.

Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends CVS Health. The Motley Fool has a disclosure policy.