The roller-coaster ride continues, with the market indexes under pressure once again. But despite the stormy weather, the best mutual funds continue to place large bets on three sectors: medical, energy and financial.
In the latest of new buys by top funds, four companies raked in over $1 billion each from the best-performing money managers.
Real estate research firm CoStar leads the list, garnering an estimated $2.8 billion. Power infrastructure play Quanta Services got a jolt with $1.4 billion worth of investments.
Rounding out the billion-dollar club, investment advisor LPL Financial ($1.3 billion) and biotech Regeneron ($1 billion) also earned a spot on this 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 by the best mutual funds.
The Best Mutual Funds Help Fuel Multiple Breakouts
The Federal Reserve kicked off November with another rate hike and a market decline. But despite this past week's sharp sell-off, several stocks on the list of new buys by the best mutual funds have held their recent breakouts.
Energy stocks barreling beyond their buy zones include Matador Resources, H.F. Sinclair, Hess and Texas Pacific Land Corp..
ExxonMobil continues to add gas to its October breakout and is now extended.
Even some names from the battered tech sector sparked new moves. Super Micro Computuer bolted higher after reporting a third straight quarter of triple-digit earnings growth. SMCI stock reversed lower to end the week but remain in the buy zone.
Digi International, Aspen Technology, Agilysys and Parsons are also among the crop of tech breakouts. PSN stock was featured last month in the IBD Stock Analysis.
On the medical front, Neurocrine Biosciences has rocketed past a buy point with its relative strength line soaring. NBIX made IBD's list of the Top 5 biotech stocks.
Bases And Buy Zones Galore (If Market Cooperates)
From inflation and interest-rate hikes to geopolitical turmoil and contentious midterm elections, there's no shortage of reasons for investors to be on edge. But there's also no shortage of stocks to watch from the full list of new buys by the best mutual funds.
From the medical sector alone, you'll find Vertex Pharmaceuticals, Merck and Amgen testing new buy zones. Meanwhile, Medpace, Bristol-Myers Squibb, AmerisourceBergen and Regeneron are also prepping new moves.
From the financial sector, Charles Schwab, FirstCash Financial, Amalgamated Financial and others continue to build new chart patterns. LPL Financial has already cashed in on its August breakout.
Energy stocks scooped up by the best mutual funds also continue to power new setups. Keep an eye on names like Pioneer Natural Resources, Devon Energy, Diamondback Energy and Enphase Energy. And don't forget Warren Buffett favorite Occidental Petroleum.
But Wait, There's More ...
Big buying by the best mutual funds goes beyond medical, financial and energy stocks.
This screen also highlights retailers like Ulta Beauty and other companies from a wide range of sectors.
Be sure to check the full list of new buys by the best mutual funds in this Excel document.
While the market may head lower before turning up, it will rebound. And tracking what the top money managers are buying while using stock charts to track demand is the most reliable way to profit when it does.
Follow Matthew Galgani on Twitter at @IBD_MGalgani.
