Investors in the third quarter of 2025 have been risk-on one week and risk-off the next as they mull over tariffs, economic growth, inflation and interest rates.
In a new blog post, Morningstar investment specialist Susan Dziubinski writes about where the “smart money” has been finding investment opportunities in the current market. To find out, analysts looked into the latest portfolios of fund managers they consider among the best.
They isolated top stock pickers among currently active fund managers, screening on these criteria:
- Actively managed funds that reside in Morningstar’s U.S. large value, large blend of large growth categories
- Funds with at least one share class that earns Morningstar medalist ratings of Gold, Silver or Bronze with 100% analyst coverage
- Funds that hold 50 or fewer stocks as of their most recently reported portfolios
Twenty-eight separate fund portfolios made the cut. Analysts then compared their latest portfolios with portfolios three months earlier to determine which stocks these managers have been buying.
Some of the stocks that top managers have been buying look fairly valued, according to Morningstar, while others are undervalued.
See the accompanying gallery for the 10 stocks the best fund managers are buying this year. Year-to-date performance is as of Aug. 27.
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