Were Hedge Funds Right about Their Top 10 Picks in Q3?

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The “cherry on the top” is Allergan PLC (NYSE:AGN), which was the most popular stock among hedge funds from our database, being included in 151 equity portfolios, with stakes carrying a total value of $20.73 billion, equal to over 17% of the company at the end of June. The stock lost 10.4% in the third quarter, but it is still up by more than 11% since the beginning of the year. The decline is more related to the overall market turmoil, since Allergan PLC (NYSE:AGN) has been on a steady track to expand its portfolio of drugs and is unquestionably one of the leaders in the healthcare sector. John Paulson’s Paulson & Co. and Viking Global are the two largest shareholders of Allergan PLC (NYSE:AGN) in our database, holding stakes of 7.17 million shares and 6.80 million shares respectively. Daniel S. Och, Dan Loeb, and Stephen Mandel are also among the investors bullish on the company.

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