50 Top Stock Picks In Q2 That Billionaires Love

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AbbVie

Sun Times Media

Market Value: $166.4 billion
Billionaire Investor: Avidity Partners Management
Percent of Portfolio: 9.7%

AbbVie happens to be a spin off from the pharmaceutical corporation, Abbot Laboratories back in 2013. Much like Abbot, AbbVie has managed to launch a number of popular medications like Humira, a commonly used drug that’s used to treat rheumatoid arthritis and a number of other medical issues. It has even gone on to surpass the number one selling drug of all time, Lipitor, which is used to treat high blood. Avidity, which is a Dallas-based hedge fund worth AUM $1.2 billion, bought another 1,068,400 shares of AbbVie, bringing its total net value to $151.7 million, which is why it brings Avidity’s portfolio to almost 10%.