don't selL your shares to hedge funds NEW YORK, Nov 16 (Reuters) - Some of the world's biggest hedge funds extended bets on Valeant during the third quarter, only weeks before the pharmaceutical company's stock went into a tailspin after criticism over its pricing strategy and accounting practices.
Andreas Halvorsen's Viking Global Investors, long a top performing fund, bought 376,615 Valeant shares sometime between July and the end of September to own 4.9 million shares at the end of the quarter, according to a filing made on Monday.b
Brahman Capital raised its stake by 958,300 shares to own roughly 4 million shares while Hound Capital bought an additional 1.2 million shares, making Valeant the fund's biggest position with nearly 4 million shares, the filings show.
TODAY VOLUME TO=493K NY =1 M.