After making the list of new buys by the best mutual funds for three straight months, Nvidia went AWOL in the latest report. But Broadcom, Alphabet, Interactive Brokers, Carvana and a slew of others stepped into the spotlight. Meta Platforms, Palantir Technologies, Shopify and GE Aerospace also landed a spot on the list.
Three companies — Broadcom, Alphabet and Interactive Brokers — each raked in over $10 billion from leading money managers. An additional 18 stocks, including Palantir, Carvana, Meta and Robinhood Markets, saw capital inflows ranging from $1 billion to $8 billion.
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.
Note: The New Buys list includes only new buys of the mutual funds rated from A+ to B- based on 36-month performance before screening for other proprietary criteria. The Latest Sells list tallies the number of top funds that were net sellers of each stock with ratings ranging from A+ to B+ in the fund's latest reporting period. Because some funds bought the same stocks sold by others, we also looked at the total number of buyers of each stock.
Biggest Bets By The Best Mutual Funds
Leading institutional investors scooped up an eye-popping $22.75 billion worth of Broadcom stock ahead of the artificial intelligence chipmaker's latest earnings report, which beat and raised Wall Street estimates. Shares gapped up in huge volume at Friday's open, closing with a gain of over 9%.
This latest report of new buys by the best mutual funds came out before a favorable antitrust ruling sent Alphabet stock soaring to an all-time high Wednesday. Shares have continued to soar. The AI and search giant now boasts a stellar 2.3 up/down volume ratio. That more than doubles a 1.0 reading to indicate demand.
Top funds also set their sights on Interactive Brokers — to the tune of $10.37 billion.
| Company | Symbol | Amt invested (bil) | Comp Rating |
|---|---|---|---|
| Broadcom | $22.75 | 99 | |
| Alphabet | 21.12 | 98 | |
| Interactive Brokers | 10.37 | 97 |
Palantir, Meta, Carvana Also Drive Into Billion-Dollar Club
With the market indexes notching all-time highs, the best mutual funds continued to pour large sums into the likes of Carvana, Robinhood, Palantir, Cloudflare, Meta, Shopify, Reddit, AppLovin and more.
Ireland-based electronics maker TE Connectivity sparked capital inflows of $8.11 billion. Carvana, which soared a stunning 11,318% from a new low in December of 2022 until hitting a new high in August, took in $6.02 billion.
Featured as an IBD Leaderboard stock on Aug. 26, AppLovin also joined the billion-dollar club. Defense stocks GE Aerospace and Curtiss-Wright also secured a spot on this month's list of new buys by the best mutual funds.
| Company | Symbol | Amt invested (bil) | Comp Rating |
|---|---|---|---|
| TE Connectivity | $8.11 | 95 | |
| Carvana | 6.02 | 98 | |
| Montrose Environmental | 4.77 | 95 | |
| Robinhood | 4.05 | 97 | |
| Palantir Technologies | 3.75 | 98 | |
| Cloudflare | 3.12 | 95 | |
| Meta Platforms | 2.8 | 97 | |
| Nextracker | 2.03 | 98 | |
| Shopify | 1.78 | 95 | |
| 1.62 | 96 | ||
| GE Aerospace | 1.52 | 98 | |
| Curtiss-Wright | 1.41 | 95 | |
| Astera Labs | 1.39 | 99 | |
| Axon Enterprise | 1.22 | 96 | |
| Aptiv | 1.15 | 92 | |
| MongoDB | 1.11 | 98 | |
| AppLovin | 1.06 | 99 | |
| Valaris | 1.03 | 87 |
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
