Looking At The Long-Term Performance of Hedge Funds’ Popular Picks from 2015

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  1. Allergan plc Ordinary Shares (NYSE:AGN)
  2. On May 15, 2015, around the time that most hedge funds reported their positions in Actavis, the company completed its acquisition of Allergan plc Ordinary Shares (NYSE:AGN). At the time, Actavis was the top pick of hedge funds, with 157 funds reporting Actavis holdings valued at $21.97 billion. Actavis then adopted Allergan’s name a month after the deal’s closure. However, the company’s stock price fell by 27.63% over the two-year period, reflective of the troubles of the pharmaceutical industry in general. Shares fell from $309.16 on May 31, 2015, to $223.75 two years later. Unsurprisingly, only 84 hedge funds remain invested in Allergan, with $6.48 billion in holdings. Looking at the long-term performance of hedge funds’ popular picks from 2015, Allergan was a rare miss for hedge funds, and the only stock on this list whose value fell.

    Nestor Rizhniak/Shutterstock.com

    Nestor Rizhniak/Shutterstock.com

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