On September 29, 2025, Bob Keiser, co-chief investment officer and senior market strategist at Aspire Strategist Portfolios, appeared on CNBC’s ‘Closing Bell Overtime’ to discuss the ongoing performance of large-cap stocks. Keiser emphasized that earnings growth remains strong in this sector, a view his firm has maintained for the past two years. He noted that the anticipated interest rate cut by the Federal Reserve, which currently has over an 80% chance of occurring this September, may bolster the macroeconomic environment but is already largely priced into the market.
Keiser pointed out that the concentration of large technology stocks within the S&P 500—where the top ten stocks constitute approximately 40% of the market capitalization—should be accepted as the new norm. The primary driver for this concentration is the growth potential in the S&P 500, which is projected to deliver four consecutive quarters of double-digit earnings growth, following similar results from the previous year. This strong performance underscores why investors continue to favor these large-cap stocks.
In light of this, we have compiled a list of the 12 best-performing large-cap stocks, selected based on their impressive year-to-date performances exceeding 40%. The stocks listed are ranked in ascending order of their performance and include details on hedge fund ownership as of the second quarter of 2025.
Top 12 Large-Cap Stocks
12. Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY)
Market Capitalization: $58.66 billion
Year-to-Date Performance: 90.17%
Hedge Fund Holders: 58
On September 29, Alnylam Pharmaceuticals announced new data from the HELIOS-B Phase 3 study of its RNAi therapeutic, AMVUTTRA (vutrisiran). The results indicated a significant reduction in gastrointestinal events associated with transthyretin-mediated amyloidosis cardiomyopathy, demonstrating a 42% lower rate of such events compared to placebo.
11. Lumentum Holdings Inc. (NASDAQ:LITE)
Market Capitalization: $11.36 billion
Year-to-Date Performance: 93.66%
Hedge Fund Holders: 59
Lumentum Holdings expanded its Optical Circuit Switch product line with the new R64 platform, designed for AI data centers. The R64, showcasing innovative MEMS technology, will be featured at the ECOC exhibition in Copenhagen from September 29 to October 1.
10. Joby Aviation Inc. (NYSE:JOBY)
Market Capitalization: $13.70 billion
Year-to-Date Performance: 96.80%
Hedge Fund Holders: 31
In a significant development, Joby Aviation announced a partnership to launch an air taxi service network in Ras Al Khaimah by 2027, aligning with the Emirate’s 2030 Mobility Master Plan.
9. AeroVironment Inc. (NASDAQ:AVAV)
Market Capitalization: $15.41 billion
Year-to-Date Performance: 100.59%
Hedge Fund Holders: 31
On September 25, AeroVironment appointed Johnathan Jones as Senior Vice President of Cyber and Mission Solutions, enhancing its capabilities in national security for U.S. government clients.
8. Cloudflare Inc. (NYSE:NET)
Market Capitalization: $76.17 billion
Year-to-Date Performance: 102.99%
Hedge Fund Holders: 59
Cloudflare announced a partnership with UNICEF to leverage its global network to improve Internet connectivity in schools worldwide, aiming to bridge the digital divide affecting 1.3 billion children.
7. Tencent Music Entertainment Group (NYSE:TME)
Market Capitalization: $13.67 billion
Year-to-Date Performance: 109.07%
Hedge Fund Holders: 31
The Board of Directors approved the appointment of Jeanette Kim Yum Chan to the audit committee, enhancing corporate governance.
6. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)
Market Capitalization: $25.26 billion
Year-to-Date Performance: 117.24%
Hedge Fund Holders: 48
Credo introduced its 224G PAM4 SerDes Intellectual Property, designed for high-bandwidth applications, critical for next-gen AI and cloud computing.
5. Symbotic Inc. (NASDAQ:SYM)
Market Capitalization: $31.73 billion
Year-to-Date Performance: 126.61%
Hedge Fund Holders: 17
Symbotic announced an advancement in battery technology for their autonomous mobile robots, significantly enhancing performance and operational efficiency.
4. Newmont Corporation (NYSE:NEM)
Market Capitalization: $92.86 billion
Year-to-Date Performance: 127.14%
Hedge Fund Holders: 66
Newmont plans a leadership transition with Tom Palmer stepping down as CEO by December 31, 2025, with Natascha Viljoen set to become the first woman to lead the company.
3. AngloGold Ashanti (NYSE:AU)
Market Capitalization: $34.89 billion
Year-to-Date Performance: 200.22%
Hedge Fund Holders: 25
The company is set to commence drilling at the Organullo Gold Project in Argentina, targeting a major gold discovery.
2. Kratos Defense & Security Solutions Inc. (NASDAQ:KTOS)
Market Capitalization: $14.87 billion
Year-to-Date Performance: 233.89%
Hedge Fund Holders: 33
Kratos announced the appointment of Brian Shepard as Chief Information Officer, a move aimed at strengthening its IT and information security operations.
1. Oklo Inc. (NYSE:OKLO)
Market Capitalization: $17.20 billion
Year-to-Date Performance: 448.80%
Hedge Fund Holders: 36
On September 29, Oklo and Sweden’s Blykalla announced a collaboration to enhance advanced nuclear technology, focusing on cost reduction and regulatory knowledge exchange.
Investors are keen on these stocks due to their strong performance and the backing of hedge funds. Research indicates that mimicking top hedge fund stock picks can lead to significant market outperformance, making these large-cap stocks worthy of consideration.
