(Yahoo) Several days after appointing an investment committee and new holding restrictions in response to substantial losses on Valeant Pharmaceuticals (VRX), the Sequoia Fund sold a substantial portion of its investment in the company.
The filing from a week ago and made public Tuesday afternoon documented a 47% reduction in the Sequoia Fundas Valeant position, to 16.1 million shares from 30.3 million shares. It also shrank the fund’s ownership of the company to 4.7% from 8.8%.
