Can Top Funds Prop Up These Big-Name, But Pressured Stocks?

While the market has come under pressure, the latest list of new buys by the best mutual funds shows top money managers continue to place their bets on Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), Nvidia (NVDA) and other big-name stocks. While AAPL, MSFT, GOOGL and NVDA try to resist the headwinds, others, such as Big Pharma plays Eli Lilly (LLY) and Vertex Pharmaceuticals (VRTX), as well as defense contractor Lockheed Martin (LMT), have so far shown more immunity to the selling.


Leading the pack, Apple and Microsoft made the billion-dollar club, taking in $1.3 billion and $1.1 billion, respectively, from top-performing institutional investors.

Alphabet, Nvidia, Eli Lilly, Pfizer (PFE) and Pioneer Natural Resources (PDX) each took in over $400 million.

The best mutual funds also invested substantial sums in Charles Schwab (SCHW), Berkshire Hathaway (BRKB), Johnson & Johnson (JNJ) and UnitedHealth (UNH).

Note: Be sure to check these Excel files, updated and published each month, to see all the stocks on the latest list of new buys and list of new sells by the best mutual funds.

Vertex Leads Breakouts Bucking This Pressured Market

Even within this volatile market, on this list of new buys by the best mutual funds you’ll find a mix of stocks that have soared alongside those that are setting up or testing new buy points and buy zones.

While Lilly and Vertex represent the crop of stocks that have broken out to nice gains, they’re not alone. Leading dividend stock Iron Mountain (IRM), and gambling stock Monarch Casino & Resort (MCRI) also join their ranks. Steel stocks Nucor (NUE) and Steel Dynamics (STLD) also fit that bill.

Chemicals leaders CF Industries (CF) and Westlake (WLK) have also jumped out to nice gains and are now extended. Westlake, however, has pulled back to its 50-day moving average.

AAPL, GOOGL, MSFT Among Stocks In Or Near Buy Zones

While a pressured market creates headwinds for individual stocks, Apple, Microsoft and Alphabet are among those showing resilience and looking to weather the storm.

Apple is near but below a double-bottom buy point it cleared earlier. Unlike GOOGL and Microsoft, the 50-day line remains solidly above the longer-term 200-day line, showing superior technical strength. Alphabet is testing support at its 50-day line as it forms a cup with handle and tries to retake its 200-day benchmark.

Arista Networks (ANET), Kinsale Capital (KNSL), Leidos (LDOS), Trinet (TNET) are among those showing potential new buy points.

Financial stocks Charles Schwab and Raymond James (RJF) also fit that bill, although both stocks — particularly Schwab — have encountered selling pressure as they form handles.

Stocks being bought by the best mutual funds that are exploring new buy zones include Regeneron Pharmaceuticals (REGN), Roche (RHHBY), ExlService (EXLS), and NV5 Global (NVEE). Regeneron has just moved beyond the buy zone and is now extended.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.


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