Anytime you have a very long, protracted up-move in the stock market, the portfolio managers at the top growth mutual funds usually have to start taking some profits and reallocate those funds to other stocks that can hopefully outperform going forward. Most managers are expected to be fully invested, with no more than 3% to 5% maximum allocated to cash.

An interesting new report from Credit Suisse highlights the stocks where large-cap fund managers have been placing new bets the most. We screened those stocks for ones that were rated Outperform at Credit Suisse. It is an interesting cross-section of sectors that may make good sense for growth portfolios.

Dow Chemical Co. (NYSE: DOW) is a stock to buy for investors in the materials and chemicals. It has reported consistent strong earnings, thicker plastics margins and higher agricultural sales. The company reported second-quarter earnings per share of $0.73, and it also continues to expand the authorized share repurchase program, now near $4.5 billion. Investors are paid a very solid 2.8% dividend. The Credit Suisse price target for the stock is $56. The Thomson/First Call consensus price target is $54.72. Dow closed Thursday at $53.84.

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EOG Resources Inc. (NYSE: EOG) is a top energy stock that many Wall Street analysts feel can beat current estimates. The company is fueling record oil and natural gas production that is revolutionizing the U.S. energy position. Its position in the three biggest tight oil plays makes it a huge player in the exploration and production field. EOG is the top producer in the Eagle Ford Shale and it has solid positions in both the Bakken and Permian Basin. Investors are paid a tiny 0.4% dividend. Credit Suisse has a $124 price target, and the consensus price target is $121.35. EOG closed Thursday at $116.20.

Facebook Inc. (NASDAQ: FB) makes the list, and the social media giant is on a roll. The company destroyed earnings estimates Thursday and almost all of Wall Street ratcheted up price targets. With mobile revenue and advertising numbers skyrocketing, the company has been a stellar performer the past year. With over a billion registered users around the world, the company is expected to continue to grow massive earnings and is now competitive in search. The Credit Suisse price target is a huge $90, and the consensus target is $78.09 and going higher soon. Shares ended Thursday at $74.98.

Gilead Sciences Inc. (NASDAQ: GILD) is a top stock that also crushed earnings as its leading drug Sovaldi continues massive sales. During the quarter just reported, revenue for Sovaldi, its drug to treat hepatitis C, delivered product sales of $3.48 billion, exceeding average analysts’ estimates of $2.92 billion, as well as the $2.98 billion the Credit Suisse team expected. Total revenues for Gilead were $6.53 billion, versus the analysts’ expectation of $5.86 billion. Clearly, the company absolutely killed it. Credit Suisse has a $110 price objective and the consensus is at $102.26. Shares closed trading Thursday at $90.54.

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Macy’s Inc. (NYSE: M) is a top retail stock that the mutual funds are loading up on. The company raised guidance last month but announced store closures and worker firings. Analysts at Wall Street firms applauded the great strides the company is making in improving its online sales ability. Investors are paid a 2.1% dividend. The Credit Suisse price target is $60, and the consensus target is $63.21. The stock closed Thursday at $57.92.

Microsoft Corp. (NASDAQ: MSFT) is another technology stock rated Outperform at Credit Suisse and is being snapped up at the mutual funds. While posting strong earnings this week, Microsoft also announced huge layoffs of up to 17,000 employees as a result of the Nokia handset purchase. The company continues to evolve away from its core Office suite of products and is focused on multiple areas of growth. Investors are paid a respectable 2.7 % dividend. The Credit Suisse price target is $50, and the consensus target is $46.37. Microsoft closed Thursday at $44.40.

Raytheon Corp. (NYSE: RTN) is a top aerospace and defense stock being added at the big mutual funds. The company is the world’s largest missile maker, but its second-quarter sales fell 6.8% as all four of its divisions reported declines. However, profits rose 13%, and the company maintained its outlook for the rest of the year. Investors are paid a 2.5% dividend. The Credit Suisse price objective is $100, and the consensus target is $104.21. Raytheon closed Thursday at $93.55.

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Just because the top mutual funds are buying these stocks is not necessarily a reason for an individual to do so. However, they have vast amounts of research capability, so a vote for a stock and large accumulation numbers by top funds is a very good endorsement.

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