The Portfolio Selector features the Argus Focus List, a group of 30 "best idea" stocks generated and regularly updated by Argus' analysts and investment policy committee. It also includes the director of research’s monthly investment strategy column, stock recommendations and sector picks, economic forecasts, and an asset allocation model. This month, the Focus List additions are Capital One Financial Corp. (COF); Dominos Pizza Inc (DPZ); Novo Nordisk (NVO); Shell Plc (SHEL) and the Focus List deletions are Alcon Inc. (ALC); Expedia Group Inc (EXPE); Morgan Stanley (MS); Exxon Mobil Corp. (XOM).

Stock indices dipped in October 2023, with the S&P 500 falling a sharp 10% off summer highs. Looking at 13F filings of big institutional portfolios, we see that the big guns were busy last quarter taking advantage of that dip. Citadel Advisors went on a buying spree, adding to its $100 billion portfolio across a range of sectors. As did D.E. Shaw, adding to its $67 billion portfolio. Vickers Stock Research, a subsidiary of Argus Research Group, analyzes insider trading and institutional stock ownership. Form 13-Fs, which institutions must file to report their holdings, are due 45 days after the end of calendar quarters and have come in for 4Q24. We review 13Fs of major activists to determine core holdings and new purchases. Activist investing is now less about generating a short-term return and more about achieving long-term returns through an active management/investor partnership. Based on data from Vickers, here are some recent new purchases and key holdings of activist investors, as well as other high-profile money managers.

Expedia Group Inc. is an online travel agency (OTA). The company's technology provides tools and information that help consumers to research, plan and book trips. With a market cap of approximately $20.6 billion, the shares are generally regarded as large-cap growth.

Stock indices are at all-time highs, while the overall tone in current and recent sell/buy ratios from Vickers Stock Research remains one of clear caution. Indeed, at 5.47, Vickers' Total One-Week Sell/Buy ratio, which measures activity across the NYSE, Nasdaq, and American Stock Exchange, is at its highest level since July 2023, shortly before the market experienced a 10% pullback in stock prices that extended until late October 2023. With readings above 2.50 signifying bearish sentiment, the Total One-Week ratio has now been in bearish territory since late November, fueling a rise in the Total Eight-Week Sell/Buy ratio to its current reading of 4.51. These cautious readings align with other developing concerns, such as overbought momentum, overbought breadth, and market sentiment that is exceedingly hot. Stocks have performed nicely so far in 2024, but insiders, with a recent uptick in pre-planned sales and decrease in buying, still seem to be building a defensive case.