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FYI: Amid the steep declines in the stock price of Valeant Pharmaceuticals International Inc., losses suffered by its largest shareholder, Sequoia Fund Inc., and by activist investor William Ackman have been well documented. But there are plenty of other funds that have likely been hit by the drop in the company’s shares. Regards, Ted http://blogs.wsj.com/moneybeat/2015/11/17/valeant-takes-bite-out-of-more-funds/tab/print/
It is more important to know how much of the fund is in Valeant rather than how much of the float is owned by a fund. SEQUX owns 3.29% of the float or 3.29% of the fund is in Valeant?
Osterweis OSTFX, as of 9/30, had Valeant Pharma @4.3%, yet it is not on M*s list. Hmmm. Well, checking their site, I see they've posted a 10/30 holdings list, and whaddayaknow---- no Valeant, poof, all gone. (also completely gone from OSTVX) O.K., not gonna wait around for the next shoe to drop. Investors will be paying a price for the excision; yr-end CG est. were released today, and OSTFX= $5.14 LTCG [obviously, just a chunk of this is Valeant, other harvesting took place elsewhere during the yr]
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