Abandoned since August of 2023, Tesla (TSLA) makes a triumphant return with a spot on the latest list of new buys by the best mutual funds, joining fellow Magnificent Seven stocks Meta Platforms (META) and Alphabet (GOOGL). But savvy investors placed their biggest bets on six stocks, including Axon Enterprise (AXON), Arista Networks (ANET) and Robinhood Markets (HOOD).
In addition to Axon, Tesla, Google and Meta, leading money managers also scooped up shares of several artificial intelligence-fueled firms like AppLovin (APP), Broadcom (AVGO), Salesforce.com (CRM) and CyberArk Software (CYBR).
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Top Ideas For 2025 And How To Handle Black Swan Events, Earnings Season: Monthly Market Report
The links below highlight just a portion of this month’s new buys and sells by top funds.
Click here to see all the stocks on the list.
Axon, Robinhood Join Exclusive Billion-Dollar Club
In the latest report, six stocks raked in at least $1 billion each from the best mutual funds.
Taser maker Axon Enterprise led, garnering a capital infusion of $6.28 billion. With demand further showcased by a B Accumulation/Distribution Rating and a 1.5 up/down volume ratio, Axon continues to close in on a 698.67 buy point in a second-stage cup pattern. Earning a stellar 98 Composite Rating to lead the Security/Safety industry group, Axon earns a spot on the IBD 50, IBD Big Cap 20 and IBD Sector Leaders.
To the tune of $2.56 billion, demand from top funds has also propelled Robinhood to new heights with its relative strength line soaring. Featured in IBD’s 2025 Best Online Brokers report, Robinhood earned accolades for its online mobile trading apps for a new generation of investors.
AppLovin — one of the best stocks of 2024 — pulled in $1.11 billion from this cadre of the best mutual funds. Looking to add to its meteoric rise off January 2023 low, the provider of a mobile app ecosystem to aid developers aims to break out past a 417.63 buy point. The specialty enterprise software firm is this week’s featured stock in the IBD Stock Analysis.
| Company | Symbol | $ Amt Invested (bil) | Comp Rating |
|---|---|---|---|
| Axon Enterprise | (AXON) | $6.28 | 98 |
| Arista Networks | (ANET) | 4.35 | 99 |
| Robinhood Markets | (HOOD) | 2.56 | 98 |
| Ameriprise Financial | (AMP) | 1.66 | 96 |
| AppLovin | (APP) | 1.11 | 99 |
| Blue Owl Capital | (OWL) | 1.05 | 96 |
Broadcom, Tesla, Meta, Google Also In Demand
While they did not take in at least $1 billion from the best mutual funds, Tesla, Meta and Google joined a battalion of stocks also in demand.
Broadcom ($974 million), Tesla ($487 million), Meta ($445 million) and Alphabet ($378 million) attracted significant investments.
Top money managers also opened their wallets for Salesforce ($313 million), CyberArk ($218 million) and yoga apparel icon Lululemon Athletica (LULU) ($631 million).
They also added $184 million worth of Walmart (WMT) to their shopping carts.
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Follow Matthew Galgani on X (formerly Twitter) at @IBD_MGalgani.
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