The Pershing Square head teamed up with Valeant (VRX) at the start of the year to initiate a hostile takeover of the Botox maker. And with AGN comprising 38% of his equity portfolio in the second quarter, for Ackman the stakes couldn't be higher.
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But Bill Ackman isn't the only one with an interest in how the Allergan-Valeant battle plays out. In fact, a number of billionaire investors are caught in the crossfire.
Valeant. As of its most recent 13F filings, released in August, Steve Mandel, Jorge Lemann, George Soros, John Paulson and Richard Chilton have positions in Valeant, as does Thomas Steyer's fund, Farallon Capital. With 10.1 million VRX shares in his portfolio as of Q2, it is Mandel who stands to gain the most should the bid succeed - and lose in the case that it fails.