GOOGL Stock, Shopify, Nvidia Among New Buys By The Best Mutual Funds

Tech stocks like Alphabet (GOOGL), Shopify (SHOP), Nvidia (NVDA), Applied Materials (AMAT) and Adobe (ADBE) lead the latest list of new buys by the best mutual funds.


GOOGL stock and SHOP stock top the list that also features companies from other sectors, including financial stocks Charles Schwab (SCHW) and Goldman Sachs (GS). Restaurant stock Chipotle Mexican Grill (CMG) and leisure sector play Yeti (YETI) also make grade.

The best mutual funds invested an estimated $1.5 billion in Alphabet in the latest report. Shopify stock also joined the billion-dollar-club, taking in approximately $1.1 billion.

Nvidia stock, SCHW, AMAT, Yeti, CMG stock, DocuSign (DOCU) and Advanced Micro Devices (AMD) are among those raking in more than $100 million each.

Given the strong institutional demand for tech stocks, it’s no surprise that Alphabet, Shopfiy and Nvidia join several other names on both the list of buys by the best mutual funds and various IBD stock lists.

AMD, DOCU, Align Technology (ALGN) and Square (SQ) also make the IBD 50 list of leading growth stocks. You’ll also find Nvidia, Chipotle, DocuSign, Align and KLA (KLAC) on the IBD Big Cap 20.

Square stock, DocuSign and AMD also earn spots on IBD Sector Leaders, our most stringent stock screen.

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.

Stocks Near Buy Zones Being Bought By Top Funds

While GOOGL stock, which earned a spot among the Most Trusted Technology Companies, AMD, Chipotle, Adobe, Yeti are extended from earlier breakouts, other names on the list are setting up new chart patterns and buy zones.

Among semiconductor sector stocks, AMAT, KLAC and Lam Research (LRCX) are eyeing new entries.

In other sectors, GS stock, Deere (DE) and Callaway Golf (ELY) are also setting up, just to name a few on the list of new buys by leading funds.

Other Articles And Tables In This Special Report:

Customer experience (CX) leader Concentrix (CNXX) is back in a buy zone. Featured in the IBD Stock Analysis last month, the 2020 IPO has made a strong climb since going public.

Be sure to check the full list of new buys by the best mutual funds to discover additional stock ideas.

How To Read Buys & Sells By The Best Mutual Funds

Ever wonder if managers of the best mutual funds know something you don’t about your stock? Would you like an early signal showing when institutional investors — especially the best ones — are getting in or out of certain stocks? New Buys Of Top-Performing Stock Funds and Top Funds’ Latest Sells provide just that. Use the PDF and Excel files to see when companies like GOOGL stock and Nvidia that are in demand with large investors.

Updated and published each month, the New Buys list includes only new buys of the top 30% of stock funds ranked by 36-month performance. Companies are sorted by the highest combined Earnings Per Share (EPS) and Relative Price Strength (RS) Ratings. The number of top-performing funds that bought the stock in the latest reporting period is given.

As seen in the links above to the PDF and Excel files, the Total Mil$ Invested column shows the amount of money, in millions, the funds put into each stock. The column reflects both new positions and additions to existing ones. Prices, EPS and RS Ratings, and P/E are from the month-end close.

The Latest Sells list tallies the number of top-performing funds that were net sellers of each stock 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.

Follow Matthew Galgani on Twitter at @IBD_MGalgani.


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Harry Byrne

Harry Byrne

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