As the market rallies but remains volatile, DoorDash, Netflix, Robinhood Markets, CrowdStrike and five others lead the newly minted list of new buys by the best mutual funds. DoorDash, Netflix and the others each raked in between $1.1 billion to $6.5 billion from these savvy investors. While Palantir Technologies just missed a seat at the billion-dollar table, top money managers scooped up roughly $964 million worth of Palantir stock prior to the company's May 5 earnings report.
This latest monthly also showed top funds placing large bets on GE Vernova ($949 million), Uber Technologies ($945 million) and NatWest ($938 million).
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.
Best Mutual Funds Bet Billions On DoorDash, Netflix And Beyond
In this month's report, leading institutional investors showed demand for companies across a diverse range of industries.
DoorDash topped the list, digesting a whopping $6.51 billion. As with this month's report on investments in Palantir, information on the huge bet on DoorDash came out just before the food-delivery platform unveiled its Q1 performance.
Together with the latest earnings report, DoorDash confirmed a deal to acquire Deliveroo, a U.K.-based food-delivery service, for $3.86 billion. That builds on a spree of deals with Lowe's, Pet Supplies Plus and an expansion of its partnership with Coco Robotics. Under the partnership with Coco Robotics, DoorDash has launched a U.S. rollout in Los Angeles and Chicago. Eligible customers can see the availability of Coco's fleet of emissions-free sidewalk robots and may have one assigned to their order via the DoorDash app.
As they did last month, the best mutual funds once again binged on Netflix stock. They picked up $2.25 billion worth of shares in the streaming giant.
These wizards of Wall Street also invested an estimated $5.32 billion into drug giant Eli Lilly while scooping up $1.25 billion worth of tobacco and vaping powerhouse Philip Morris International.
These institutional investors poured $4.55 billion in cement and building products firm CRH and $1.23 billion in online broker Robinhood Markets.
Rounding out the billion-dollar club, cybersecurity leader CrowdStrike reaped $1.91 billion as the best mutual funds poured $2.64 billion onto journalism and business intelligence stalwart Thomson Reuters and $1.12 billion into sports and entertainment powerhouse TKO Group.
| Company | Symbol | $Amt Invested (bil) | Comp Rating |
|---|---|---|---|
| DoorDash | $6.51 | 99 | |
| Eli Lilly | 5.32 | 96 | |
| CRH | 3.55 | 88 | |
| Thomson Reuters | 2.64 | 88 | |
| Netflix | 2.25 | 99 | |
| CrowdStrike | 1.91 | 98 | |
| Philip Morris International | 1.25 | 92 | |
| Robinhood Markets | 1.23 | 95 | |
| TKO Group | 1.12 | 97 |
Find Stocks To Watch: From Top IPOs To Large And Small Caps
In-Demand Sectors Highlight Palantir Stock And More
Showing market breadth, the best mutual funds spread their investments across a wide range of industry sectors.
The financial sector led, with 20 stocks making the cut. In addition to Robinhood, Tradeweb Markets, Virtu Financial and IPO Leader Marex also secured spots on this screen.
Including Palantir and CrowdStrike, 17 names from the software sector also made the list. Others include Dropbox, Atlassian, GoDaddy and IBD Long-Term Leader Cadence Design Systems.
The best mutual funds also added 11 retailers to their shopping carts, including DoorDash. Sprouts Farmers Market, Darden's Restaurants and TJX also found a seat at the table within the broad retail sector.
Ten names from the mining sector carved out a spot, led by Newmont, Osisko Gold Royalties and Agnico-Eagle Mines.
In the Leisure sector, Uber Technologies, Planet Fitness, Cinemark, Rush Street Interactive and Life Time Holdings join Netflix stock.
Other well-represented industries include insurance stocks and utilities.
Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
