BAUSCH HEALTH COS INC BHC
COM · Common Stock · CUSIP 071734107 · ISIN CA0717341071
- SectorHealth care
- IndustryPharmaceutical Preparations
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($38.5k this quarter). Holder counts are more reliable. Shares outstanding: 374.0m as of 2026-07-24, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $4.97. Options: 17 managers hold calls ($24.0m notional), 15 hold puts ($48.2m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 282 |
| Q4 2022 | 262 |
| Q1 2023 | 236 |
| Q2 2023 | 232 |
| Q3 2023 | 224 |
| Q4 2023 | 234 |
| Q1 2024 | 236 |
| Q2 2024 | 234 |
| Q3 2024 | 210 |
| Q4 2024 | 225 |
| Q1 2025 | 229 |
| Q2 2025 | 211 |
| Q3 2025 | 217 |
| Q4 2025 | 235 |
| Q1 2026 | 226 |
| Q2 2026 | 220 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 70 | 120 |
| Q4 2024 | 84 | 100 |
| Q1 2025 | 100 | 94 |
| Q2 2025 | 86 | 106 |
| Q3 2025 | 91 | 89 |
| Q4 2025 | 128 | 79 |
| Q1 2026 | 105 | 92 |
| Q2 2026 | 94 | 97 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $15.4m | $33.0m | 2.15 |
| Q4 2025 | $15.2m | $33.1m | 2.18 |
| Q1 2026 | $15.3m | $23.9m | 1.57 |
| Q2 2026 | $24.0m | $48.2m | 2.01 |
Biggest buyers
| SG Americas Securities, LLC | Added | +5.5m |
| D. E. Shaw & Co., Inc. | Added | +2.1m |
| GENDELL JEFFREY L | Added | +1.1m |
| GOLDMAN SACHS GROUP INC | Added | +1.0m |
| Man Group plc | Added | +924.1k |
| Point72 Asset Management, L.P. | Added | +885.6k |
| MILLENNIUM MANAGEMENT LLC | Added | +658.3k |
| ACADIAN ASSET MANAGEMENT LLC | Added | +603.5k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +574.6k |
| Qube Research & Technologies Ltd | Added | +571.2k |
Biggest sellers
| NOMURA HOLDINGS INC | Reduced | -8.6m |
| Nuveen, LLC | Reduced | -3.6m |
| Walleye Capital LLC | Reduced | -1.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -800.8k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Sold out | -684.0k |
| ROYAL BANK OF CANADA | Reduced | -530.9k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -363.7k |
| Lido Advisors, LLC | Reduced | -300.2k |
| UBS Group AG | Reduced | -297.6k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -251.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.1m1.0m shares |
| DEUTSCHE BANK AG\ | New | $4.9m1.0m shares |
| SIG North Trading, ULC | Added | $4.4m884.5k shares |
| GROUP ONE TRADING LLC | Reduced | $2.7m554.3k shares |
| Fore Capital, LLC | Reduced | $1.7m350.0k shares |
| SIMPLEX TRADING, LLC | Added | $1.4m289.3k shares |
| Sequoia Financial Advisors, LLC | Added | $879.0k178.3k shares |
| CITADEL ADVISORS LLC | Reduced | $711.9k144.4k shares |
| TRUIST FINANCIAL CORP | New | $670.5k136.0k shares |
| NATIONAL BANK OF CANADA /FI/ | Added | $461.7k937 shares |
Biggest puts
| Lombard Odier Asset Management (USA) Corp | Added | $19.7m4.0m shares |
| BARCLAYS PLC | Added | $8.1m1.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $6.9m1.4m shares |
| CITADEL ADVISORS LLC | Added | $3.7m742.5k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Added | $2.7m543.7k shares |
| GROUP ONE TRADING LLC | Reduced | $2.5m508.8k shares |
| Walleye Trading LLC | Added | $1.3m263.3k shares |
| Caption Management, LLC | New | $827.7k167.9k shares |
| JANE STREET GROUP, LLC | Reduced | $785.8k159.4k shares |
| SIG North Trading, ULC | Reduced | $576.3k116.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| PAULSON & CO. INC. 13D · may seek influence +10.2 pts · filed 2025-08-14 | 19.1% |
MERUELO ALEX
13D · may seek influence
new · filed 2025-04-07
Stated purposeOn March 31, 2025, Mr. Meruelo spoke with Thomas Appio, the Chief Executive Officer of the Issuer, regarding the market reaction to the Issuer's recently announced debt refinancing as well as the Issuer's future debt maturities and plans to maximize shareholder value. During the course of the conversation, it became clear to the Reporting Person that the Issuer could benefit from the Reporting Person's financial and business experience and, therefore, the Reporting Person expressed his willingness to join the board of directors of the Issuer (the "Board") and to help the Issuer identify other strategic individuals to join the Board. The Reporting Person has since determined to continue to engage with the Issuer with respect to joining the Board and identifying other strategic individuals… Full filing |
10.0% |
| GOLDENTREE ASSET MANAGEMENT LP 13G · passive investor filed 2025-08-14 | 9.5% |
Fell to 5% or below in the last year: NOMURA HOLDINGS INC (4.2%, 2025-11-14)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 1 | $3.7k | $3.7k |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 1 | $35.9m | 0 | — | — |
| Q3 2025 | 1 | $333.8m | 2 | $219.6k | $97.7k |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 1 | $115.0k | $115.0k |
| Q2 2026 | 0 | — | 1 | $132.8k | $132.8k |
| Q3 2026 | 0 | — | 1 | $258.9k | $258.9k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-19 | Lenar Aimee J. President, US Pharma | Sold plan | $258.9k36.8k shares |
| 2026-05-19 | Lee Frank D. Director | Sold plan | $132.8k24.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| PAULSON & CO. INC. 14.02% of their portfolio | 73.3m $361.2m | Unchanged |
| GOLDENTREE ASSET MANAGEMENT LP 9.92% of their portfolio | 34.7m $170.7m | Unchanged |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 10.8m $53.4m | Reduced -530.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio | 8.0m $39.4m | Unchanged |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 7.5m $36.8m | Added +61.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 6.2m $30.7m | Added +1.0m |
| MFN Partners Management, LP 0.61% of their portfolio | 6.0m $29.6m | Unchanged |
| SG Americas Securities, LLC 0.02% of their portfolio | 5.5m $27.3m | Added +5.5m |
| ACADIAN ASSET MANAGEMENT LLC 0.03% of their portfolio | 5.5m $27.0m | Added +603.5k |
| Kohlberg Kravis Roberts & Co. L.P. 0.45% of their portfolio | 5.2m $25.8m | Unchanged |
| ING GROEP NV 0.12% of their portfolio | 5.0m $24.6m | Unchanged |
| Hudson Bay Capital Management LP 0.12% of their portfolio | 5.0m $24.6m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 4.8m $33.2m | Added +574.6k |
| GENDELL JEFFREY L 0.18% of their portfolio | 4.0m $19.9m | Added +1.1m |
| NORGES BANK 0.00% of their portfolio | 3.4m $16.9m | Not comparable |
| MACQUARIE GROUP LTD 0.07% of their portfolio | 3.2m $16.0m | Unchanged |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 3.2m $16.0m | Reduced -363.7k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 2.7m $13.3m | Added +2.1m |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 2.3m $11.1m | Added +29.7k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 2.2m $11.0m | Added +885.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.2m $10.8m | Reduced -23.3k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 2.1m $10.5m | Added +557.4k |
| PRIVATE MANAGEMENT GROUP INC 0.22% of their portfolio | 1.7m $8.3m | Reduced -19.7k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 1.7m $8.3m | Added +571.2k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.01% of their portfolio | 1.5m $7.4m | Added +380.4k |
| Man Group plc 0.01% of their portfolio | 1.5m $7.2m | Added +924.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 1.3m $6.5m | Reduced -251.2k |
| MORGAN STANLEY 0.00% of their portfolio | 1.3m $6.2m | Added +99.1k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 1.1m $5.4m | Added +192.9k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 1.1m $5.4m | Added +658.3k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 986.4k $4.9m | Added +56.9k |
| TD Asset Management Inc 0.00% of their portfolio | 938.7k $4.6m | Added +45.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 880.8k $4.3m | Added +427.0k |
| Bridgewater Associates, LP 0.02% of their portfolio | 866.3k $4.3m | Added +195.9k |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 855.7k $4.2m | Added +59.9k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.02% of their portfolio | 753.0k $3.7m | Reduced -44.5k |
| UBS Group AG 0.00% of their portfolio | 744.2k $3.7m | Reduced -297.6k |
| GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio | 707.3k $3.5m | Reduced -41.5k |
| WHITEBOX ADVISORS LLC 0.05% of their portfolio | 614.7k $3.0m | Added +50.0k |
| Jump Financial, LLC 0.03% of their portfolio | 611.1k $3.0m | Added +149.7k |
| TORONTO DOMINION BANK 0.00% of their portfolio | 592.4k $2.9m | Reduced -30.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 571.2k $2.8m | Reduced -12.9k |
| Trexquant Investment LP 0.02% of their portfolio | 536.4k $2.6m | Added +430.1k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 520.6k $2.6m | Added +91.4k |
| Swiss National Bank 0.00% of their portfolio | 508.5k $2.5m | Reduced -5.7k |
| Federation des caisses Desjardins du Quebec 0.01% of their portfolio | 496.8k $2.4m | Added +482.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.00% of their portfolio | 491.2k $2.4m | Unchanged |
| Inspire Investing, LLC 0.09% of their portfolio | 467.6k $2.3m | New |
| Quadrature Capital Ltd 0.02% of their portfolio | 415.1k $2.0m | Added +267.8k |
| NOMURA HOLDINGS INC 0.01% of their portfolio | 399.4k $2.0m | Reduced -8.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 394.4k $1.9m | Reduced -800.8k |
| NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio | 387.1k $1.9m | Added +3.4k |
| MACKENZIE FINANCIAL CORP 0.00% of their portfolio | 365.6k $2.6m | Added +45.2k |
| Legal & General Group Plc 0.00% of their portfolio | 331.7k $1.6m | Unchanged |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 327.0k $1.6m | Added +101.9k |
| PICTON MAHONEY ASSET MANAGEMENT 0.01% of their portfolio | 299.2k $1.5m | Added +117.7k |
| CIBC Asset Management Inc 0.00% of their portfolio | 265.3k $1.3m | Added +14.5k |
| Engineers Gate Manager LP 0.02% of their portfolio | 250.0k $1.2m | Added +149.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 237.2k $1.2m | Added +233 |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 223.2k $1.1m | Unchanged |
| Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio | 211.1k $1.0m | Reduced -183.1k |
| Claret Asset Management Corp 0.11% of their portfolio | 204.1k $1.0m | New |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio | 204.0k $1.0m | Reduced -13.3k |
| Nuveen, LLC 0.00% of their portfolio | 189.4k $933.3k | Reduced -3.6m |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 187.4k $923.8k | Reduced -23.5k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 186.3k $918.4k | New |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 185.5k $914.8k | Reduced -52.5k |
| RITHOLTZ WEALTH MANAGEMENT 0.01% of their portfolio | 181.5k $895.0k | Reduced -40.9k |
| Kazazian Asset Management, LLC 0.66% of their portfolio | 150.0k $739.5k | New |
| CIBC WORLD MARKET INC. 0.00% of their portfolio | 147.3k $725.2k | Added +17.5k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 146.6k $722.4k | Added +46.8k |
| FEDERATED HERMES, INC. 0.00% of their portfolio | 143.8k $708.9k | Added +7.5k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 142.6k $702.6k | Reduced -14.5k |
| FOX RUN MANAGEMENT, L.L.C. 0.11% of their portfolio | 139.7k $688.9k | New |
| Invesco Ltd. 0.00% of their portfolio | 138.6k $683.5k | Reduced -60.1k |
| Thrivent Financial for Lutherans 0.00% of their portfolio | 137.3k $676.0k | Added +30.7k |
| Walleye Trading LLC 0.01% of their portfolio | 135.2k $666.5k | Added +113.2k |
| BlackRock, Inc. 0.00% of their portfolio | 134.5k $662.9k | Reduced -10.1k |
| INTACT INVESTMENT MANAGEMENT INC. 0.02% of their portfolio | 118.1k $582.0k | Reduced -57.0k |
| Graham Capital Management, L.P. 0.01% of their portfolio | 102.0k $502.7k | Added +17.9k |
| Squarepoint Ops LLC 0.00% of their portfolio | 101.7k $501.6k | Reduced -36.7k |
| BARCLAYS PLC 0.00% of their portfolio | 93.9k $462.7k | Reduced -29.9k |
| Y-Intercept (Hong Kong) Ltd 0.01% of their portfolio | 93.1k $458.8k | Reduced -11.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 89.0k $438.3k | Unchanged |
| Vontobel Holding Ltd. 0.00% of their portfolio | 86.5k $426.3k | Added +38.4k |
| XTX Topco Ltd 0.01% of their portfolio | 85.1k $419.6k | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 83.5k $411.9k | Reduced -123.6k |
| Marex Group Ltd 0.00% of their portfolio | 83.2k $410.1k | Added +8.4k |
| Poehling Capital Management, INC. 0.09% of their portfolio | 82.5k $406.6k | Reduced -3.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 82.4k $405.8k | Added +20.3k |
| Fore Capital, LLC 0.52% of their portfolio | 80.0k $394.4k | Added +10.0k |
| Annis Gardner Whiting Capital Advisors, LLC 0.06% of their portfolio | 79.7k $392.9k | New |
| TRUIST FINANCIAL CORP 0.00% of their portfolio | 78.5k $387.1k | Reduced -2.0k |
| Schonfeld Strategic Advisors LLC 0.00% of their portfolio | 78.4k $386.5k | Added +59.9k |
| BLAIR WILLIAM & CO/IL 0.00% of their portfolio | 78.0k $384.5k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 75.4k $371.3k | Reduced -135.5k |
| Leonteq Securities AG 0.03% of their portfolio | 75.0k $523.6k | Added +25.0k |
| Caprock Group, LLC 0.01% of their portfolio | 74.8k $368.6k | Reduced -20.5k |
| WOLVERINE ASSET MANAGEMENT LLC 0.00% of their portfolio | 73.1k $360.4k | Reduced -2.3k |
| Lebenthal Global Advisors, LLC 0.05% of their portfolio | 73.0k $359.7k | Added +13 |