AbbVie Inc. and Actavis PLC were the top two buys among the top 10 pure-play hedge funds ranked by equity asset holdings during the third quarter, according to data from S&P Capital IQ.
Actavis ranked first in terms of increases to current positions, followed by AbbVie. Alibaba Group and Hertz Global ranked first and second in terms of new positions taken by the firms in the third quarter.
Apple Inc. and Baidu Inc. saw the two largest overall decreases in the third quarter. Apple topped the list of exited positions, followed by Time Warner Inc.