Just in time for the Oscars comes the unveiling of this month's list of new buys by the best mutual funds. Magnificent Seven stocks Nvidia, Meta Platforms and Microsoft garner the top accolades in terms of inflows. But the cast of best supporting stocks that top money managers hold dear is deep.
Other stocks in strong demand include semiconductor sector leaders Broadcom, ASML and Applied Materials. Late Thursday, Broadcom topped views on strong sales of its AI chips and data center gear, but shares in AVGO fell Friday.
Video streamer Netflix and retail giant Costco, which reported earnings after the close Thursday alongside Broadcom, also make the cut. On Friday, shares of Costco stock gapped in heavy volume.
High-profile names Uber Technologies, American Express, Lululemon Athletica, Caterpillar and Chipotle Mexican Grill also found a seat at the table.
The spotlight on artificial intelligence has also shone on enterprise software firms Salesforce.com, ServiceNow, Workday, Palantir Technologies and Parsons.
Profiled in The New America column this week, Palantir may see upside from its push into generative AI.
AI trends also boosted demand for cybersecurity leaders CrowdStrike, Palo Alto Networks, Zscaler and CyberArk Software.
Nvidia Reveals 8 'Secrets' For When To Sell Stocks. No. 2 Is Key.
Nvidia, Palantir In Demand Among Top Money Managers
Nvidia and Palantir both hit record highs this week. Fellow top AI stock Parsons did the same, soaring after earlier blasting off its 10-week moving average.
Meta, which was featured on Feb. 23 and again on March 7, has also joined the crop of stocks hitting new highs. Microsoft rebounded again Thursday to close just above the top of its buy range from a breakout in January.
But on Friday, the tech-heavy Nasdaq took a hit as leaders like Nvidia, Meta, Palantir and Microsoft pulled back. Shares of Nvidia stock, for example, fell more than 5% in above-average and rising volume. Such action within a still-intact bull market rally is a good reminder for investors to keep rules for when to sell stocks close at hand.
The links below highlight just a portion of this month's new buys and sells by top funds.
Click here to see all the stocks on the list.
The Best Mutual Funds Love Builders
Nvidia, Meta, Microsoft and others continue to ride the AI boom. Meanwhile, 34 companies hailing from the broad building sector — this month's largest grouping — skip the virtual world and drive real-world demand.
Building ranks No. 4 among the 33 sectors IBD tracks.
Core & Main, TopBuild and Builders FirstSource come from the Miscellaneous Building Products industry, which ranks No. 8 among the 197 industries IBD tracks. All three of these stocks rallied to record highs, but slipped Friday as the market encountered some turbulence.
Also from this group, Advanced Draining Systems traded within a tight range for several weeks after soaring on earnings from a breakout last month. The IBD Stock Analysis showcased WMS stock again Friday as it tested a breakout.
Homebuilders PulteGroup, Toll Brothers and Dream Finders Homes also make this month's list of new buys by the best mutual funds. Each of these stocks now trades around a record high.
Other groups from the building sector with stocks in demand among the best mutual funds include A/C and Heating Products, Heavy Construction, and Maintenance & Services.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
