The nation's top-performing funds the past three months have
been ramping up their buying of medical and Internet stocks.
They've had varying degrees of success resisting the downward
pull of the
Large drug providers, such asActavisA CT,Allergan (
) andSalix Pharmaceuticals (
), have been steady performers for
Hospital stocks, such asUnited Health Services (
) andHCA Holdings (
), have been soaring.
Internet content providers, includingFacebook (FB) andBaidu
(BIDU), have continued to be mainstays in the portfolios of top
Apple (AAPL), maker of iPhones, was also a staple among
Managers of leading funds have also been adding apparel
makers, includingHanesbrands (HBI) andUnder Armour (UA).
Retailers such as luxury furniture storesRestoration Hardware
(RH) and casual fast-food chainChipotle Mexican Grill (CMG) are
also popular among best-performing funds.
IBD spotted 21 top-performing
loading upAvis Budget Group (CAR), investing an estimated $16.7
million. The $16.6 billion Fidelity Blue Chip Growth Fund added
the stock in its latest reporting period.
The Parsippany, N.J.-based firm provides car and truck rentals
to businesses and consumers through Avis and Budget brands. It
runs most of its 10,000 rental locations in North America, Europe
and Australia directly.
It also owns Zipcar, a car sharing and car club service for
its 870,000 members. You can join the club for as low as $6 a
Avis' stock has been in a steady uptrend since clearing a
22-week base in late October last year.
It saw a short pullback in mid-January, but quickly bounced
back to notch new highs. Since then, Avis gained 50% to a 52-week
high of 62 on July 3. The stock, now in the fifth week of a
possible flat base, rose 3% on Tuesday on solid second-quarter
earnings results. Earnings growth climbed 36% while revenue edged
Analysts see earnings rising 32% this year and 27% next
Top funds have been unloading leisure stocks, such as casino
gambling providerInternational Game Technology (IGT) and
educational multimedia firmDiscovery Communications (DISCK).