Is Mylan Inc. (MYL) Going to Burn These Hedge Funds?

What does the smart money think about Mylan Inc. (NASDAQ:MYL)?

At the end of the fourth quarter, a total of 60 of the hedge funds tracked by Insider Monkey were long this stock, a decline of 19% from one quarter earlier. With the smart money’s capital changing hands, there exists a select group of noteworthy hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Paulson & Co, managed by John Paulson, holds the largest position in Mylan Inc. (NASDAQ:MYL). Paulson & Co has a $1.23 billion position in the stock, comprising 7.4% of its 13F portfolio. On Paulson & Co’s heels is Sachem Head Capital, managed by Scott Ferguson, which holds a $181.1 million position; the fund has 5.7% of its 13F portfolio invested in the stock. The remaining members of the smart money with similar optimism include Samuel Isaly’s OrbiMed Advisors, Doug Silverman and Alexander Klabin’s Senator Investment Group and David Einhorn’s Greenlight Capital.

Due to the fact that Mylan Inc. (NASDAQ:MYL) has faced declining sentiment from the entirety of the hedge funds we track, it’s easy to see that there is a sect of money managers who were dropping their positions entirely by the end of the third quarter. At the top of the heap, Keith Meister’s Corvex Capital sold off the largest stake of the “upper crust” of funds tracked by Insider Monkey, comprising about $80.5 million in stock, and Rob Citrone’s Discovery Capital Management was right behind this move, as the fund cut about $72.8 million worth. These transactions are important to note, as total hedge fund interest dropped by 14 funds by the end of the third quarter.

The concluding page of this article reveals the smart money activity in other companies with market capitalizations similar to the one of MYL.