Stock Market

Top Funds Shovel Billions Into These Five Sectors


The latest list of new buys by the best mutual funds showcases seven members raking in over $1 billion each, including Broadcom (AVGO), Tractor Supply (TSCO) and JPMorgan Chase (JPM).


Ferguson (FERG) led the billion-dollar club, with top money managers showering over $12 billion on the plumbing and heating products distribution giant.

Steel Dynamics (STLD), Eaton (ETN) and Ameriprise (AMP) also earned membership in this exclusive club.

AVGO, TSCO And JPM Join Billion-Dollar Club
Company Symbol $ Amount Invested By Top Funds Composite Rating
Ferguson FERG $12 billion 98
Broadcom AVGO $4.5 billion 98
Tractor Supply TSCO $2.9 billion 93
JPMorgan Chase JPM $2.5 billion 93
Steel Dynamics STLD $2.3 billion 95
Eaton ETN $1.2 billion 93
Ameriprise AMP $1.2 billion 96

Browse The Full List Of New Buys By The Best Mutual Funds

Sectors In Demand Among The Best Mutual Funds

An overall look at new buys by the best mutual funds shows these well-heeled investors put a special focus on five broad sectors.


The building sector led, with 41 stocks making the grade. Nine homebuilders earned promising appraisals, including  Tri Pointe Homes (TPH), Toll Brothers (TOL), Green Brick Partners (GBRK) and PulteGroup (PHM).


TSCO stock, Crocs (CROX), AutoZone (AZO), Ulta Beauty (ULTA) and Chinese e-commerce play PDD (PDD) were among 29 retailer stocks top money managers added to their shopping carts.


Software stocks also had a strong showing. IBD Long-Term Leaders Cadence Design Systems (CDNS) and Synopsys (SNPS) joined 23 other software names in demand among top fund managers. Cloud stock Arista Networks (ANET) and cybersecurity leaders Fortinet (FTNT) and Palo Alto Networks (PANW) also secured recognition.


Top funds have also engineered clear demand for the machinery sector. Industrial powerhouses Parker-Hannifin (PH) and Trane  Technologies (TT) led, taking in $818 million and $725 million, respectively.


As the Nasdaq searches for support to continue its 2023 rally, the best mutual funds scooped up shares in 15 names in the semiconductor sector.

In addition to AVGO stock, Mobileye (MBLY), Lattice Semiconductor (LSCC), Applied Materials (AMAT), Advanced Energy Industries (AEIS), and Allegro Microsystems (ALGM) made the cut. IBD 50 and IBD Big Cap 20 member Monolithic Power Systems (MPWR) also etched its spot on this stock screen.

Stocks To Watch Forming Bases, Breakouts And Buy Zones

While the market indexes successfully test their key moving averages, there’s no shortage of names testing new breakouts and buy zones.

Just among semiconductor stocks being bought by the best mutual funds, chip names testing buy zones include AMAT, ADI, AEIS and Microchip Technology (MCHP).

Semiconductor stocks now approaching new buy points include MPWR,  STMicroelectronics (STM), Diodes (DIOD) and Global Foundries (GFS), just to name a few.

Meanwhile, AVGO stock soared Friday while MBLY, Axcelis Technologies (ACLS) and others have found support at their 10-week moving averages to continue their impressive moves.

Semiconductor stocks have already broken out include LSCC and ALGM stock.

To explore beyond just chip stocks, click to see the full list of stocks the best mutual funds are buying.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.


Here’s What’s Likely To Drive Semiconductor Stocks In 2023

Time To Buy Or Sell These Top Large-Cap Stocks?

Generate New Stock Ideas For This Uptrend With IBD Stock Screener

Identify Bases And Buy Points With This Pattern Recognition Tool





Share this news on your Fb,Twitter and Whatsapp

File source

Times News Network:Latest News Headlines
Times News Network||Health||

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button