Bausch Health Cos Inc (BHC): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

Q: Is it too late to buy Bausch Health Cos Inc (BHC) following the 2026 Q1 hedge fund 13F filings?

As of today, BHC has moved -6.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of -12.6%. Since the quarter end (March 31, 2026), BHC gained -6.3% vs +4.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Bausch Health Cos Inc (BHC)

224 + Investors. Track Smart Money conviction in BHC. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — BHC

Based on 225 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their BHC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

🏔️

At the ownership peak (95% of max)

95% of all-time peak

225 hedge funds hold BHC right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.

〰️

Stable — ownership unchanged year-over-year

fund count last 6Q

The number of hedge funds holding BHC is almost the same as a year ago (-7 funds, -3% change). No significant rush to buy or sell — institutional backing is holding steady.

🟡

Slight buying edge — 53% buying

115 buying104 selling

Last quarter: 115 funds bought or added vs 104 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

⚠️

Fewer new buyers each quarter (-23 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 24 → 32 → 51 → 28. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔒

67% of holders stayed for 2+ years

■ 67% conviction (2yr+) ■ 18% medium ■ 15% new

151 out of 225 hedge funds have held BHC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

💎

Buying through price weakness — shares -1%, value -25%

Value

-24%

-1%

Last quarter: funds added -1% more shares while total portfolio value only changed -25%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

📈

Growing discovery — still being found

36 → 24 → 32 → 51 → 28 new funds/Q

New funds entering each quarter: 24 → 32 → 51 → 28. A growing number of institutions are discovering BHC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Deep conviction — 73% of holders stayed 2+ years

■ 73% veterans ■ 10% 1-2yr ■ 17% new

Of 240 current holders: 175 (73%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.

📋

Smaller funds dominant — 18% AUM from top-100

18% from top-100 AUM funds

40 of 225 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

3.2

out of 10

Low Exit Risk

Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	224	237	-5.49%
13F Shares	238M	241M	-1.26%
Total Value	$1.27B	$1.68B	-24.65%
New Positions	27	51	-24
Increased Positions	82	87	-5
Closed Positions	40	31	+9
Reduced Positions	59	51	+8
Total Calls	10	9	11.11%
Total Puts	10	11	-9.09%
PUT/CALL Ratio	1.0	1.22	Neutral

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

224

237

-5.49%

13F Shares

238M

241M

-1.26%

Total Value

$1.27B

$1.68B

-24.65%

New Positions

-24

Increased Positions

-5

Closed Positions

Reduced Positions

Total Calls

11.11%

Total Puts

-9.09%

PUT/CALL Ratio

1.0

1.22

Neutral

Institutional Holders (2026 Q1)

224 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BHC. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 BHC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Paulson & CO. INC.	12.71%	73,255,869	$395.6M
2	Goldentree Asset Management LP	11.09%	34,665,731	$187.0M
3	Fore Capital, LLC	1.34%	400,000	$2.2M
4	MFN Partners Management, LP	0.68%	6,000,000	$32.4M
5	Kohlberg Kravis Roberts & Co. L.P.	0.53%	5,235,000	$28.3M
6	LuminArx Capital Management LP	0.50%	125,000	$675K
7	Lombard Odier Asset Management (USA) Corp	0.38%	666,000	$3.6M
8	Range Financial Group LLC	0.35%	193,925	$1.0M
9	Private Management Group Inc	0.26%	1,703,511	$9.2M
10	Round Hill Asset Management	0.26%	73,035	$394K
11	Fore Capital, LLC	0.23%	70,000	$378K
12	Gendell Jeffrey L	0.22%	2,969,840	$16.0M
13	Eschler Asset Management LLP	0.20%	37,506	$203K
14	ING Groep NV	0.17%	5,000,000	$27.0M
15	First Growth Capital LLC	0.16%	32,452	$181K
16	Nomura Holdings Inc	0.13%	8,986,372	$48.5M
17	Macquarie Group Ltd	0.10%	3,250,000	$17.6M
18	Poehling Capital Management, INC.	0.10%	85,604	$462K
19	Crawford Fund Management, LLC	0.09%	90,000	$486K
20	Hudson Bay Capital Management LP	0.09%	5,000,000	$27.0M
21	Healthcare of Ontario Pension Plan Trust Fund	0.07%	8,000,000	$43.2M
22	MQS Management LLC	0.06%	17,492	$94K
23	Lebenthal Global Advisors, LLC	0.06%	72,956	$394K
24	Scientech Research LLC	0.06%	12,358	$67K
25	SIG North Trading, ULC	0.05%	487,800	$2.6M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Bausch Health Cos Inc (BHC)

What does the Smart Money Trend signal show for BHC?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their BHC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BHC?

Slight buying edge — 53% buying: Last quarter: 115 funds bought or added vs 104 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for BHC holders?

Smaller funds dominant — 18% AUM from top-100: 40 of 225 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held BHC?

67% of holders stayed for 2+ years: 151 out of 225 hedge funds have held BHC for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Bausch Health Cos Inc (BHC) following the 2026 Q1 hedge fund 13F filings?

As of today, BHC has moved -6.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +6.0% for the XLV sector ETF — an outperformance of -12.6%. Since the quarter end (March 31, 2026), BHC has gained -6.3% vs +4.9% for XLV. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Bausch Health Cos Inc (BHC)

Smart Money Signals — BHC

Selling streak — 1 quarter in a row

At the ownership peak (95% of max)

Stable — ownership unchanged year-over-year

Slight buying edge — 53% buying

Fewer new buyers each quarter (-23 vs last Q)

67% of holders stayed for 2+ years

Buying through price weakness — shares -1%, value -25%

Growing discovery — still being found

Deep conviction — 73% of holders stayed 2+ years

Smaller funds dominant — 18% AUM from top-100

Institutional Sentiment Summary — BHC

Hedge Fund Ownership: BHC

Market Analysis: BHC

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: BHC

Is It Too Late to Buy Bausch Health Cos Inc (BHC) Based on Hedge Fund 13F Filings?

Hedge Fund Positioning: BHC

Statistics: BHC

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Bausch Health Cos Inc (BHC)

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