Valeant - a nightmare of hedge funds

The company's shares Valeant Pharmaceuticals plummeted on Monday, this is bad news for a number of hedge funds.

Embattled, Canadian pharmaceutical company confirmed involvement in a number of the investigations, in particular, the Prosecutor's Office of the US state of Massachusetts and the Southern District of New York, the Commission on the Securities and Exchange Commission (SEC), as well as the US Congress.

The paper fell to 18.44% after losing almost $ 15, trading closed at US $ 65.78 per share. During the session, shares reached 63.75 dollar mark this 52-week low.

The tragic start to the week continues a series of hard landings for Valeant, which began with the end of 2015 because of the attention in Washington, because of the growth of prices for medicines and accusations of profiteering.

The action was a favorite of hedge funds. According raitings Goldman Sachs — Hedge Fund Trend Monitor, Valeant shares occupied 26th place and is designated as the most important (necessary) for hedge funds, must have other words. Later, on a background of sales in the 3rd quarter of the shares Valeant disappeared from the list of Goldman, but again returned to the rankings in the 4th quarter.

Below is a brief list of the 10 largest owners among hedge funds, according to the data and documents compiled by Bloomberg. Data on the balance sheet date December 31 the results of the 4th quarter, since the money could be redistributed differently.

1. Pershing Square (Bill Ackman): 21,591,122 shares, 6.33% (added 5 million shares on February 5)
2. ValueAct Holdings (Jeff Ubben): 14,994,261 shares, 4.39%
3. Paulson and Co. (John Paulson): 13,265,900 million shares, 3.89% (added 4.375 million shares in Q4)
4. Brahman Capital: 8,117,753, 2.38% (added 4.1 million shares in Q4)
5. Viking Global (Andreas Halvorsen): 7,793,397, 2.28% (added 2.8 million shares in Q4)
6. Lone Pine Capital (Steven Mandel): 5,829,079 shares, 1.71% (sold 1.63 million shares in Q4)
7. Hound Partners (Jonathan Auerbach): 4,881,835, 1.43% (added 983,187 in Q4)
8. Iridian Asset Management: 4,324,602, 1.27% (added 1.6 million shares in Q4)
9. Okumus Fund Management (Ahmet Okumus): 1,875,600, 0.55% (bought position in Q4)
10. Coatue Management (Philippe Laffont): 1,673,007, 0.49% (bought position in Q4)

If these items have not been changed, it is generally a paper loss on shares will amount to more than 1.25 billion. Dollars.

Bill Ackman, founder of Pershing Square, has lost more than 321 million. Dollars from the close of trading on Friday. To date, the loss of his hedge fund investment in Valeant, estimated at 2 billion. Dollars. Other investors, apparently, also unsweetened.

From http://www.businessinsider.com/hedge-funds-in-valeant-2016-2