Fund Spy: What Top Fund Managers Bought and Sold in the Third Quarter

[Morningstar Logo]( [Company Site]( [Company News]( [Membership]( [Portfolio]( [Stocks]( [Options]( [Funds]( [ETFs]( [Markets]( [Tools]( [Personal Finance]( [Discuss]( Fund Spy What Top Fund Managers Bought and Sold in the Third Quarter Across the board, Morningstar Medalists got defensive. [tab_bar] by Jack Shannon | 11/24/2020 2:00:00 PM Stock market volatility persisted in 2020's third quarter, providing fund managers with ample buying and selling opportunities. On top of the turbulence, 136 companies completed IPOs on either the Nasdaq or New York Stock Exchange, a more than 140% increase from 2019's third quarter. To get a sense of how active stock managers positioned themselves during this volatility, we looked at the buys and sells of the aggregated portfolios of all U.S. equity funds with Morningstar Analyst Ratings of Gold, Silver, or Bronze. Overall, Morningstar Medalist managers shifted into more-defensive names, such as tobacco company Philip Morris PM and beverage company Coca-Cola KO while trimming strong-performing mega-cap technology and Internet stocks like Microsoft MSFT, Apple AAPL, and Amazon.com AMZN. Here is a look at some of the medalists' most popular trades, broken out by market capitalization. The following data represents 168 large-cap, 63 mid-cap, and 59 small-cap strategies that have at least one medalist-rated share class and reported a third-quarter portfolio as of Nov. 18, 2020. To read more, click [here](. Sponsored Links [Buy a Link Now]( Free Issue | Morningstar's Fund Newsletter >> Morningstar FundInvestor brings you critical data and analysis on the 500 biggest and best mutual funds around. Includes online access to the monthly, full-page Analyst Reports, plus exclusive research and commentary from Morningstar's Director of Manager Research, Russ Kinnel. [Click for your free issue](. Search Most Recent Articles [Rocky Road for Roku?]( [Gender Diversity on Corporate Boards Is Good for Investors]( [Tesla Finally Joins the S&P 500]( ABOUT OUR EMAIL To unsubscribe and update your preferences, go to our [email newsletter page](. All subscription changes will take effect within one business day. If you have questions about Morningstar.com or your membership, send a note to premium@morningstar.com. ABOUT OUR PRIVACY POLICY Please [click here]( to learn about Morningstar's privacy policy. (c) Copyright 2020. Morningstar, Inc. 22 W. Washington Chicago, Illinois, 60602 All rights reserved.