The behemoth of artificial intelligence Nvidia (NVDA) listed new purchases by top managers for April. Nvidia stock gained ground on this screen in February and March as well. But on this month's list of best mutual funds, fellow AI and new buys by the semiconductor leader Broadcom (AVGO) has taken the crown, while Nvidia failed to even come out ahead.
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Actually, from Microsoft (MSFT) and Meta platforms From (META). the alphabet (GOOGL) and Amazon.com ( AMZN ), none of the top seven stocks declined.
But high-performing institutional investors showed their love for Broadcom, snapping up roughly $8.3 billion worth of AVGO stock. With Nvidia gone from the list, only Arm Holdings (ARM), which just posted a disappointing full-year sales outlook, joined Broadcom from Fabless Semiconductor Group.
A total of eight companies including Broadcom are involved. Super Microcomputer (SMCI), Salesforce.com (CRM) and Chipotle Mexican Grill ( CMG ), each saw more than $1 billion in capital inflows from the best mutual funds.
The links below highlight just a portion of this month's new buys and sales.
Click here to see all the stocks listed.
Broadcom, SMCI are in demand among the best mutual funds.
Best mutual funds also scooped shares of financial institutions. JP Morgan Chase (JPM) and American Express … is the name of a newspaper (AXP).
As these savvy investors did in March and April, the top funds are also betting big on the broader building sector. Train Technologies ( TT ), a maker of energy-efficient environmental products for commercial and residential applications, led the industry with nearly $1.14 billion.
| Company | symbol | $ Amt Investment (Bill) | Comp rating | EPS rating | RS rating | SMR rating |
|---|---|---|---|---|---|---|
| Broadcom | (AVGO) | 8.37 | 97 | 87 | 93 | Oh |
| Super Microcomputer | (SMCI) | 5.82 | 99 | 99 | 99 | Oh |
| JP Morgan Chase | (jpm) | 2.35 | 94 | 89 | 87 | Oh |
| American Express … is the name of a newspaper | (AXP) | 1.38 | 95 | 93 | 91 | Oh |
| Chipotle Mexican Grill | (CMG) | 1.33 | 99 | 98 | 94 | Oh |
| Eton | (ETN) | 1.33 | 96 | 95 | 94 | Oh |
| Sales force | (CRM) | 1.27 | 87 | 97 | 78 | Oh |
| Train Technologies | (TT) | 1.14 | 98 | 95 | 94 | Oh |
Buy points near Broadcom, JPM
A number of names on the list of best mutual funds new buys are in or near the new buy zone.
Finding support at its 50-day moving average, Broadcom has formed a consolidation pattern with a 1,438.17 buy point.
JPM stock finances a fresh breakout from a second-stage flat base. The global financial powerhouse continues to close at the 200.94 buy point.
Boaz Allen Hamilton (BAH), which beats Nvidia and Palantir (PLTR) has moved into buy range from a breakout in a flat base, as the driving force behind AI in the federal government.
Trade Web Markets (TW) has reached the top of its buy zone since reporting earnings on April 25.
Builders near buy points
Representing a huge demand from the building sector in the best mutual funds, Modine Manufacturing (MOD) joins the home builders. The flip group (PHM) and Toll Brothers (TOL).
Featured as the IBD Stock of the Day on May 6, Modine continues to tease a breakout following the 106.01 buy point with its relative strength line rising.
Both PulteGroup and Toll Brothers have built new fleet bases.
Follow Matthew Galgani at X, first on Twitter, at @IBD_MGalgani.
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