Skip to Content
Investing Specialists

Our Ultimate Stock-Pickers' Top 10 Buys and Sells

Our top managers continue to be engaged in good old-fashioned stock picking, with Devon Energy and Charles Schwab standing out as top purchases during the most recent period.

Mentioned: , , , , , , , , ,

By Brett Horn | Associate Director, Equity and Credit Analysis

For most of 2011, our Ultimate Stock-Pickers were investing in a market that was headed downward, with managers in the mutual fund industry facing the prospect of a significant uptick in investor outflows from actively managed U.S. stock funds. When evaluating the activity of our top managers, we remain aware of the impact that these considerations can have on their holdings, purchases, and sales, as investor outflows will sometimes distort manager activity and limit the usefulness of the data, especially in periods like we saw during the back half of last year. While the U.S. equity markets rebounded nicely during the fourth quarter, with the S&P 500 Index up more than 11% on a price appreciation basis, investors threw in the towel on actively managed U.S. stock funds, pulling out almost as much from these funds during the period as they did during the third quarter of last year (when $49 billion flowed out of actively managed U.S. stock funds). As such, 2011 went down as the second-worst year for actively managed domestic stock fund flows since Morningstar first started tracking mutual fund flow data more than a decade ago, with investors pulling $100.9 billion out of the category (compared with $118.6 billion in outflows during the fourth quarter of 2008).

The Morningstar Ultimate Stock-Pickers Team does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.