Data show that Silicon Valley darlings once again captured the interest of stock fund managers looking to cash in on the sector’s growth and dreams in the fourth quarter of 2016. In a ranking of the 20 S&P 500 stocks that U.S. funds managing more than $1 million bought the most, tech companies took eight spots: Microsoft, Apple, Alphabet, Facebook, Amazon, Cisco, Alphabet and Intel. Microsoft and Apple also saw the most buying in the S&P 500, according to data compiled by GuruFocus. The results show U.S. investment fund managers packing into a market sector that already sprinted through last year, gaining 23.5% in 2016 versus 9.54% in the S&P 500. So far, it has not broken a sweat going into 2017, rising 29.49% year to date versus 5.58% in the S&P 500.

Source: Forbes February 24, 2017 23:15 UTC