Now that we've established the power these hedge funds wield, here then is the list the top five stocks the biggest and most famous activist hedge funds seem to prefer to invest in. Allergan plc (NYSE: AGN ) tops this list, with 24 activist hedge funds holding $5.24 billion of company stock, followed by Yahoo! Inc. (NASDAQ: YHOO ), with 22 funds owning $2.55 billion in shares. Rounding out the top five are Bank of America Corp (NYSE: BAC ), with 20 activist investors holding $1.62 billion in the company, Apple Inc. (NASDAQ: AAPL ), with $2.35 billion in stock held by 19 hedge funds, and Microsoft Corp. (NASDAQ: MSFT ), where 18 activist hedge funds have invested $3.95 billion.