- RBC Capital Markets put together a list of the stocks most frequently added by large-cap fund managers during the second quarter.
- RBC defines these stocks as "rising suns," and the firm said they often outperform the market in the quarters after they make the list.
- Almost half of the stocks on the second-quarter list are in the technology, media, internet, or telecommunications sectors.
- Here are the 11 stocks most loved by large -ap fund managers in the second quarter.
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When a large number of fund managers start buying a particular stock, it's usually a good sign.
RBC Capital Markets amassed a list of stocks that saw the most positions added by large-cap fund managers during the second quarter.
The firm defines these companies as "rising suns," and says the stocks usually outperform the broader market in the quarter after they make the list.
"The rising suns tend to see choppy performance trends being bought, lagging initially then eventually showing leadership again down the road," RBC said in the report.
Chipmakers dominated the list during the first quarter of 2019. Throughout the second quarter, technology, media, internet, and telecommunications companies accounted for close to half the stocks on the list.
Here are the 11 stocks that large-cap managers piled into during the second quarter, ranked in increasing order of how many new funds bought them: