BUZZ-Valeant plunge whacks big activist investors

Mon Sep 28, 2015 2:07pm EDT
 
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** U.S. shares of Valeant Pharmaceuticals International down more than 15 percent as congressional Democrats seek to subpoena documents related to drug price increases ** Drop is inflicting hefty one-day losses on big holders, including hedge funds run by activists Bill Ackman, John Paulson and Jeffrey Ubben ** Collective loss for top five firms owning VRX shares around $2.9 bln ** Stock last down by around $30 on the day ** Here's the loss at that price drop by the top five firms with VRX stakes (all holdings as of June 30, according to ThomsonReuters data):

1 - Ruane, Cunniff & Goldfarb, operators or the Sequoia Fund, holders of 33.88 mln shares: $1.02 bln

2 - T. Rowe Price, holders of 20.46 mln shares: $614 mln

3 - Pershing Square Capital, Bill Ackman's firm, holders of 19.47 mln shares: $584 mln

4 - ValueAct Capital, Jeffrey Ubben's firm, holders of 14.99 mln share: $450 mln

5 - Paulson & Co, John Paulson's firm, holders of 9 mln shares: $270 mln