Vault-13

BAUSCH HEALTH COS INC BHC

COM · Common Stock · CUSIP 071734107 · ISIN CA0717341071

282 institutional holders
244,166,476244.2m shares reported held*
67.5% of all shares outstanding*
$1.7bnreported value*

* 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. Holder counts are more reliable. Shares outstanding: 361.9m as of 2022-10-28, 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 ≈ $6.93. Options: 35 managers hold calls ($196.7m notional), 18 hold puts ($84.9m).

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP — $27.1m3.9m shares
Caption Management, LLC — $19.9m2.9m shares
JANE STREET GROUP, LLC — $18.8m2.7m shares
Antara Capital LP — $15.2m2.2m shares
CITIGROUP INC — $14.6m2.1m shares
Bracebridge Capital, LLC — $14.5m21.0k shares
GROUP ONE TRADING LLC — $13.8m2.0m shares
CITADEL ADVISORS LLC — $12.0m1.7m shares
LMR Partners LLP — $9.6m1.4m shares
Parallax Volatility Advisers, L.P. — $9.1m1.3m shares

Biggest puts

Lombard Odier Asset Management (USA) Corp — $34.5m5.0m shares
Jefferies Group LLC — $9.5m1.4m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP — $9.3m1.3m shares
CITIGROUP INC — $7.0m1.0m shares
CITADEL ADVISORS LLC — $5.2m761.2k shares
Antara Capital LP — $4.8m700.0k shares
WOLVERINE TRADING, LLC — $3.8m550.5k shares
SIG North Trading, ULC — $3.1m446.0k shares
Sio Capital Management, LLC — $1.9m281.2k shares
NOMURA HOLDINGS INC — $1.6m224.4k 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.

HolderStakeChangeShares Last filed
PAULSON & CO. INC. 13D · may seek influence +10.2 pts · filed 2025-08-14 19.1% +10.2 pts 70.8m≈ $348.8m 2025-08-14
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% new 36.8m≈ $181.2m 2025-04-07
GOLDENTREE ASSET MANAGEMENT LP 13G · passive investor filed 2025-08-14 9.5% 35.2m≈ $173.8m 2025-08-14

Fell to 5% or below in the last year: NOMURA HOLDINGS INC (4.2%, 2025-11-14)

Insider purchases and sales in Q3 2022

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)

BuyingSelling
202Q4 20: 0 buyingQ4 20: 0 sellingQ1 21: 0 buyingQ1 21: 0 sellingQ1 21Q2 21: 0 buyingQ2 21: 0 sellingQ3 21: 0 buyingQ3 21: 0 sellingQ3 21Q4 21: 1 buyingQ4 21: 0 sellingQ1 22: 0 buyingQ1 22: 2 sellingQ1 22Q2 22: 0 buyingQ2 22: 1 sellingQ3 22: 0 buyingQ3 22: 0 sellingQ3 22
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q4 20200—0——
Q1 20210—0——
Q2 20210—0——
Q3 20210—0——
Q4 20211$1.5m0——
Q1 20220—2——
Q2 20220—1——
Q3 20220—0——

None reported in Q3 2022.

Holders, Q3 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ICAHN CARL C 1.13% of their portfolio SUNNY ISLES BEACH, FL 34,721,11834.7m $239.2m $239.2m 1.13% —
2 PAULSON & CO. INC. 13.33% of their portfolio JERSEY CITY, NJ 26,439,03526.4m $182.2m $182.2m 13.33% —
3 FRANKLIN RESOURCES INC 0.07% of their portfolio San Mateo, CA 18,593,72918.6m $128.1m $128.1m 0.07% —
4 NOMURA HOLDINGS INC 1.12% of their portfolio TOKYO, M0 16,488,75116.5m $114.1m $114.1m 1.12% —
5 GOLDENTREE ASSET MANAGEMENT LP 8.14% of their portfolio NEW YORK, NY 16,485,38216.5m $113.6m $113.6m 8.14% —
6 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 10,924,37510.9m $75.3m $75.3m 0.00% —
7 Laurion Capital Management LP 2.07% of their portfolio NEW YORK, NY 10,805,53210.8m $74.5m $74.5m 2.07% —
8 D. E. Shaw & Co., Inc. 0.10% of their portfolio New York, NY 8,227,9288.2m $56.7m $56.7m 0.10% —
9 NATIXIS 0.26% of their portfolio PARIS, I0 8,000,0008.0m $55.1m $55.1m 0.26% —
10 MFN Partners Management, LP 1.87% of their portfolio BOSTON, MA 6,000,0006.0m $41.3m $41.3m 1.87% —
11 Kohlberg Kravis Roberts & Co. L.P. 0.72% of their portfolio NEW YORK, NY 5,235,0005.2m $36.1m $36.1m 0.72% —
12 Segantii Capital Management Ltd 1.19% of their portfolio HONG KONG, K3 5,000,0005.0m $34.5m $34.5m 1.19% —
13 Hudson Bay Capital Management LP 0.25% of their portfolio STAMFORD, CT 3,500,0003.5m $24.1m $24.1m 0.25% —
14 NORGES BANK 0.01% of their portfolio OSLO, Q8 3,273,5833.3m $22.6m $22.6m 0.01% —
15 Rubric Capital Management LP 1.13% of their portfolio NEW YORK, NY 3,264,4713.3m $22.5m $22.5m 1.13% —
16 HSBC HOLDINGS PLC 0.04% of their portfolio LONDON, X0 3,112,5533.1m $22.2m $22.2m 0.04% —
17 Silver Point Capital L.P. 1.52% of their portfolio Greenwich, CT 2,975,0003.0m $20.5m $20.5m 1.52% —
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,443,0662.4m $16.8m $16.8m 0.00% —
19 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 2,243,3712.2m $22.4m $22.4m 0.01% —
20 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 2,219,7712.2m $15.3m $15.3m 0.00% —
21 UBS Group AG 0.01% of their portfolio ZURICH, V8 2,120,8942.1m $14.6m $14.6m 0.01% —
22 ING GROEP NV 0.23% of their portfolio AMSTERDAM, P7 2,000,0002.0m $13.8m $13.8m 0.23% —
23 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 1,929,8701.9m $13.3m $13.3m 0.02% —
24 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 1,852,0941.9m $12.8m $12.8m 0.00% —
25 PRIVATE MANAGEMENT GROUP INC 0.53% of their portfolio IRVINE, CA 1,658,1241.7m $11.4m $11.4m 0.53% —
26 GAMCO INVESTORS, INC. ET AL 0.13% of their portfolio GREENWICH, CT 1,658,0441.7m $11.4m $11.4m 0.13% —
27 Miller Value Partners, LLC 0.65% of their portfolio SARASOTA, FL 1,555,6581.6m $10.7m $10.7m 0.65% —
28 MACKENZIE FINANCIAL CORP 0.02% of their portfolio TORONTO ONTARIO, A6 1,374,0561.4m $9.5m $9.5m 0.02% —
29 Woodline Partners LP 0.14% of their portfolio San Francisco, CA 1,349,5731.3m $9.3m $9.3m 0.14% —
30 Swiss National Bank 0.01% of their portfolio ZURICH, V8 1,217,4601.2m $8.5m $8.5m 0.01% —
31 TORONTO DOMINION BANK 0.01% of their portfolio TORONTO, ONTARIO, A6 1,196,1351.2m $8.3m $8.3m 0.01% —
32 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio BOSTON, MA 1,186,9141.2m $8.2m $8.2m 0.01% —
33 CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio TORONTO ONTARIO, A6 1,143,4761.1m $7.9m $7.9m 0.01% —
34 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 1,122,5921.1m $7.7m $7.7m 0.01% —
35 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,098,1251.1m $7.6m $7.6m 0.00% —
36 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 1,096,2751.1m $8.3m $8.3m 0.00% —
37 UMB Bank, n.a. 0.13% of their portfolio Kansas City, MO 1,078,6941.1m $7.4m $7.4m 0.13% —
38 Rokos Capital Management LLP 0.56% of their portfolio LONDON, X0 1,028,0191.0m $7.3m $7.3m 0.56% —
39 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,012,2321.0m $7.0m $7.0m 0.00% —
40 Legal & General Group Plc 0.00% of their portfolio London, X0 978,100978.1k $6.8m $6.8m 0.00% —
41 Clearline Capital LP 0.83% of their portfolio NEW YORK, NY 866,263866.3k $6.0m $6.0m 0.83% —
42 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 821,656821.7k $5.7m $5.7m 0.00% —
43 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 800,501800.5k $5.6m $5.6m 0.01% —
44 Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio CHIYODA-KU, TOKYO, M0 765,123765.1k $5.3m $5.3m 0.00% —
45 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 738,849738.8k $5.1m $5.1m 0.01% —
46 Public Sector Pension Investment Board 0.04% of their portfolio MONTREAL, A8 716,281716.3k $5.0m $5.0m 0.04% —
47 Chou Associates Management Inc. 4.88% of their portfolio TORONTO, A6 715,000715.0k $4.9m $4.9m 4.88% —
48 Edgestream Partners, L.P. 0.33% of their portfolio Princeton, NJ 610,632610.6k $4.2m $4.2m 0.33% —
49 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 599,016599.0k $4.1m $4.1m 0.02% —
50 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 565,454565.5k $3.9m $3.9m 0.01% —
51 VAN ECK ASSOCIATES CORP 0.01% of their portfolio NEW YORK, NY 559,796559.8k $3.9m $3.9m 0.01% —
52 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 529,640529.6k $3.7m $3.7m 0.01% —
53 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 513,479513.5k $3.5m $3.5m 0.00% —
54 Governors Lane LP 0.33% of their portfolio NEW YORK, NY 508,445508.4k $3.5m $3.5m 0.33% —
55 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 501,535501.5k $3.5m $3.5m 0.00% —
56 WHITEBOX ADVISORS LLC 0.10% of their portfolio MINNEAPOLIS, MN 499,100499.1k $3.4m $3.4m 0.10% —
57 Jefferies Group LLC 0.10% of their portfolio NEW YORK, NY 488,580488.6k $3.4m $3.4m 0.10% —
58 AXA S.A. 0.01% of their portfolio PARIS, I0 479,276479.3k $3.3m $3.3m 0.01% —
59 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 451,094451.1k $3.1m $3.1m 0.02% —
60 ARES MANAGEMENT LLC 0.14% of their portfolio LOS ANGELES, CA 430,000430.0k $3.0m $3.0m 0.14% —
61 Centerbridge Partners, L.P. 0.34% of their portfolio NEW YORK, NY 425,000425.0k $2.9m $2.9m 0.34% —
62 BlackRock Inc. 0.00% of their portfolio New York, NY 416,704416.7k $2.9m $2.9m 0.00% —
63 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio JUPITER, FL 405,564405.6k $2.8m $2.8m 0.02% —
64 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 402,165402.2k $2.8m $2.8m 0.00% —
65 BIGLARI CAPITAL CORP. 0.51% of their portfolio San Antonio, TX 395,000395.0k $2.7m $2.7m 0.51% —
66 BANK OF NOVA SCOTIA 0.01% of their portfolio TORONTO, A6 385,339385.3k $2.7m $2.7m 0.01% —
67 Redwood Investment Management, LLC 0.52% of their portfolio SCOTTSDALE, AZ 360,045360.0k $2.5m $2.5m 0.52% —
68 TOBAM 0.16% of their portfolio PARIS, I0 336,774336.8k $2.3m $2.3m 0.16% —
69 FMR LLC 0.00% of their portfolio BOSTON, MA 312,728312.7k $2.2m $2.2m 0.00% —
70 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 285,210285.2k $2.0m $2.0m 0.00% —
71 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 283,706283.7k $2.0m $2.0m 0.00% —
72 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 283,688283.7k $2.0m $2.0m 0.00% —
73 THOMPSON INVESTMENT MANAGEMENT, INC. 0.37% of their portfolio MADISON, WI 279,512279.5k $1.9m $1.9m 0.37% —
74 OBSIDIAN CIO, LLC 0.96% of their portfolio NEW YORK, NY 277,198277.2k $1.9m $1.9m 0.96% —
75 CIBC Asset Management Inc 0.01% of their portfolio TORONTO, Z4 270,045270.0k $1.9m $1.9m 0.01% —
76 TWO SIGMA ADVISERS, LP 0.01% of their portfolio NEW YORK, NY 263,800263.8k $1.8m $1.8m 0.01% —
77 TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio AUSTIN, TX 263,000263.0k $1.8m $1.8m 0.01% —
78 EMG Holdings, L.P. 1.54% of their portfolio OLD GREENWICH, CT 263,000263.0k $1.8m $1.8m 1.54% —
79 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 261,078261.1k $1.8m $1.8m 0.01% —
80 Alberta Investment Management Corp 0.01% of their portfolio EDMONTON, A0 249,700249.7k $1.7m $1.7m 0.01% —
81 GABELLI FUNDS LLC 0.01% of their portfolio Rye, NY 238,000238.0k $1.6m $1.6m 0.01% —
82 ACADEMY CAPITAL MANAGEMENT 0.34% of their portfolio WACO, TX 231,044231.0k $1.6m $1.6m 0.34% —
83 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 213,863213.9k $1.5m $1.5m 0.00% —
84 ZAZOVE ASSOCIATES LLC 0.13% of their portfolio INCLINE VILLAGE, NV 207,000207.0k $1.4m $1.4m 0.13% —
85 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 191,476191.5k $1.3m $1.3m 0.00% —
86 Patient Capital Management, LLC 0.66% of their portfolio BALTIMORE, MD 187,600187.6k $1.3m $1.3m 0.66% —
87 GROUP ONE TRADING LLC 0.04% of their portfolio CHICAGO, IL 175,961176.0k $1.2m $1.2m 0.04% —
88 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 173,233173.2k $1.2m $1.2m 0.00% —
89 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio VICTORIA, A1 170,396170.4k $1.2m $1.2m 0.01% —
90 CIBC WORLD MARKET INC. 0.00% of their portfolio TORONTO, A6 163,173163.2k $1.1m $1.1m 0.00% —
91 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 155,458155.5k $1.1m $1.1m 0.02% —
92 Brevan Howard Capital Management LP 0.41% of their portfolio ST. HELIER, Y9 155,000155.0k $1.1m $1.1m 0.41% —
93 ETF MANAGERS GROUP, LLC 0.03% of their portfolio Summit, NJ 147,789147.8k $1.0m $1.0m 0.03% —
94 Andra AP-fonden 0.04% of their portfolio GOTEBORG, V7 143,100143.1k $1.4m $1.4m 0.04% —
95 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 140,040140.0k $976.0k $976.0k 0.00% —
96 Fiera Capital Corp 0.00% of their portfolio MONTREAL, A8 135,947135.9k $940.0k $940.0k 0.00% —
97 Magnetar Financial LLC 0.01% of their portfolio EVANSTON, IL 129,650129.7k $893.0k $893.0k 0.01% —
98 Financial Sense Advisors, Inc. 0.36% of their portfolio SAN DIEGO, CA 124,700124.7k $859.0k $859.0k 0.36% —
99 Amundi 0.00% of their portfolio Paris, I0 124,398124.4k $943.0k $943.0k 0.00% —
100 Round Hill Asset Management 0.57% of their portfolio PASADENA, CA 122,178122.2k $842.0k $842.0k 0.57% —