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Komfie Manalo, Opalesque Asia:

Hedge fund managers bought the largest volume of healthcare stocks in Q1, according to S&P Capital IQ’s latest Q1 Hedge Fund Tracker, a review of Q1 2015 13F filings by pure play hedge funds. Managers bought (net) $4.8bn in healthcare stocks in the quarter.

Valeant was the largest single stock purchase and the largest sell, with hedge funds buying $3.7bn worth of stocks in overall buys and $1.4bn in sells in the first quarter. This was the first time in eight quarters of running the research that a single company was simultaneously the top buy and top sell among hedge funds.

Canada-based Valeant Pharmaceuticals International is rapidly becoming the 800-pound gorilla of the Standard & Poor’s/TSX Composite Index, Canada’s benchmark equity gauge, after an acquisition spree supported by Bill Ackman, the drugmaker’s second-biggest shareholder, reported the Montreal Gazette.

Valeant is now the S&P/TSX’s third-most valuable company with a market weighting of about 5%.

S&P Capital IQ’s other findings include:

• • Hedge funds flocked to health care stocks, as well as industrials ($1.5 billion in buying), and energy ($1.1 billion......................

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