What Will Herbalife’s Q4 Earnings Mean for These Investors?

The many-sided battle between hedge fund titans over the nature of Herbalife’s (NYSE:HLF) business and its future profitability may be clarified after the nutritional-supplement company reports its fourth-quarter earnings after the markets close on Tuesday. With such notable investors holding such opposing positions on the stock, the company’s results will have significant repercussions for shares.

Ahead of that release, several investors have slightly adjusted their positions, but others have remained committed to the previously-established battle lines.

For example, Bill Ackman has not budged. The Pershing Square Capital manager, who took a $1 billion short position on Herbalife, has held true to what he told CNBC in December; the company uses inflated pricing, misleading sales information, and a complicated incentive structure to hide what he terms is “little more than a pyramid scheme.” It was his disclosure on national television that brought the company into the spotlight in the first place…