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Investing Specialists

Ultimate Stock-Pickers: Top 10 Buys and Sells

Trading activity picked up, but our top managers remained net sellers in the fourth quarter as they maintained a cautious stance toward the market.

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Our primary focus with the Ultimate Stock-Pickers concept for the past eight years has been to uncover investment ideas that our equity analysts and top investment managers find attractive, and to reveal these names in a timely enough manner for investors to gain some value from them. As part of this process, we scour the quarterly holdings of 26 different investment managers--22 of which manage mutual funds covered by Morningstar's fund research group and four of which manage the investment portfolios of large insurance companies--as they become available, attempting to identify trends and outliers among their holdings as well as any meaningful purchases and sales that took place during the period.

In our last article, we walked through some of the buying activity of our Ultimate Stock-Pickers during fourth-quarter 2016 and the beginning of 2017. This was an early read on the purchases being made during that period (focusing in on high-conviction purchases and new-money buys), based on the holdings of around 90% of our top managers. While our Ultimate Stock-Pickers were net sellers (albeit at a declining pace) during all four quarters of 2016, they did engage in an increased amount of buying and selling activity during the most recent period.

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