Hedge Funds Snap Up Actavis, Facebook, Allergan In Q2

Pharmaceuticals company, Actavis plc (NYSE:ACT) came from behind in the historical back and forth between Apple Inc. (NASDAQ:AAPL) and Google Inc (NASDAQ:GOOG), and became the top hedge fund holding in the second quarter, according to Goldman Sachs' quarterly hedge fund trend monitor.

The quarterly report publishes a list of the 50 stocks that appear most frequently in the top ten holdings of hedge funds. After underperforming the return on S&P 500 in 1Q2014, the VIP list was back up by 266 bps YTD as of August 18.

Hedge funds: Healthcare jumps up in ranks

Technology names have held the top spots for some...