Copyright Investor's Business Daily
Nvidia (NVDA) and Palantir Technologies (PLTR) joined Alphabet (GOOGL) and Apple (AAPL) on the latest list of new buys by the best mutual funds. But while these savvy investors nibbled on these AI megacaps just ahead of Thanksgiving, they feasted on billions of dollars worth of four other stocks. After raking in a whopping $14.76 billion on last month's list, Spanish bank Banco Santander (SAN) returned again to lead the screen. The best mutual funds scooped up another $16.12 billion worth of shares. Geothermal energy firm Ormat Technologies (ORA), aerospace leader AAR Corp (AIR) and Nextracker (NXT), which focuses on optimizing solar energy production, also saw massive capital inflows. The links below highlight just a portion of this month's new buys and sells by top funds. New Buys By The Best Mutual Funds Latest Sells By The Best Mutual 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. Where The Best Mutual Funds Placed Their Biggest Bets While Banco Santander led the latest list, top money managers poured an impressive $14.31 billion into shares of Ormat Technologies. That demand has helped boost the 2022 IPO to an all-time high as its 10-week moving average and relative strength line continue to soar. AAR Corp saw a capital inflow of $8.89 billion. While already trading near a record high, the provider of aviation services continues to work on a second-stage flat base with an 89.69 buy point. An influx of $1.96 billion from the best mutual funds has also energized Nextracker. Having weathered a slump one year after its 2023 IPO, the solar energy stock rocketed to a record high Wednesday before pulling back on Thursday. Company Symbol $ Amt Invested (bil) Composite Rating Banco Santander (SAN) $16.12 95 Ormat Technologies (ORA) 14.31 98 AAR Corp (AIR) 8.89 96 Nextracker (NXT) 1.96 98 Nvidia, Palantir, Google And Apple Also Make The Cut Showing investments across a wide swath of sectors, the best mutual funds also picked up substantial shares of electronic parts maker Celestica (CLS), data storage firm Seagate Technology (STX), medical powerhouse GSK (GSK) and connectivity specialist TE Connectivity (TEL). Celestica raked in $734 million, while Seagate saw capital inflows of $669 million. Top funds scooped up $288 million worth of GSK stock and $202 million worth of TE Connectivity. While big-name AI stocks Nvidia, Palantir, Alphabet and Apple did not rake in the huge sums seen in prior months, they did earn a spot on the latest list of new buys by top funds. These megacaps each took in tens of millions of dollars, a far cry from the billions seen in earlier reports. But it is worth noting that Apple's return to the list marks its first appearance on this screen since the March report. Shares of the iPhone maker have seen resurgence since April. Apple stock now trades right around its all-time high on the heels of an upbeat holiday-sales forecast. Another titan of tech that popped onto the screen this month is IBM (IBM). Bucking the recent troubles of fellow AI-fueled companies, IBM stock jumped the top of its buy zone Thursday following its Oct. 22 earnings report. Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani. YOU MAY ALSO LIKE: This Dancing Elephant Stomps All Magnificent 7 Stocks Except Google, Nvidia AppLovin Sets Up As Google, GE Lead Eclectic Breakout Brigade Catch The Next Palantir, Nvidia Or IPO Gem. Here's How. See Which Stock Just Came On – And Off – These Premier Stock Screens
