After a volatile start in January, the stock market bounced
back nicely in February with a good pop, helping to lift stock
funds' recent purchases.
The S&P 500 and the Dow each tacked on 4% during the
Valentine month, while the biotech-heavy Nasdaq rose nearly
The top-performing funds the past three months have been
adding medical stocks in their latest reporting periods,
),Alexion Pharmaceuticals (
),Biogen Idec (
) andSalix Pharmaceuticals (
IBD's Biotech/Biomed group has been on a tear in the past
year. As of Tuesday, the group ranked No. 2 among the 197
industries tracked by IBD.
Americans' love for leisure and business travel has helped
boost airline stocks.Spirit Airlines (
),Delta Air Lines (DAL) andSouthwest Airlines (LUV) have been
rock-solid performers, each trading near or at its 52-week high.
It's worth mentioning that travel-booking firmPriceline.com
(PCLN) has also powered to all-time highs.
Best-performing funds have been nibbling on gaming/equipment
stocks, such as casino operatorsWynn (WYNN),Las Vegas Sands (LVS)
andMelco Crown Entertainment (MPEL).
Hong Kong-based Melco is currently developing the City of
Dreams Manila casino resort in the Philippines, slated to open
later this year.
IBD tracked 40 leading funds noshing onSignature Bank (SBNY),
investing an estimated $102 million. The $3.9 billion Lord Abbett
Developing Growth Fund added the stock in its latest reporting
The New York-based bank operates 26 offices in the New York
metropolitan area. Signature Bank caters to privately held
businesses and high-net-worth individuals by providing them a
single point of contact via specialized "teams" of bankers, who
can handle all their banking needs.
As of Dec. 31, total deposits were $17.1 billion, up 21% from
a year earlier.
The stock is up more than 20% this year, clocking a fresh
52-week high of 133 on Tuesday.
The nation's leading funds are taking profits from big media
giants, such asCBS (CBS) andWalt Disney (DIS).
Oil & gas firmsHalliburton (HAL) andPDC Energy (PDCE) have
also seen some heavy selling in their latest reporting