In this article, we will look at the 11 Best Performing Large Cap Stocks So Far in 2025.
The stock market had a chaotic start to the first quarter of 2025. The uncertain tariff policy, growing fears of a recession, and inflation sent the stock market to the worst quarterly performance since the 2022 bear market. On March 31, ClearBridge Investment released its commentary on the market performance. Portfolio Managers Erica Furfaro and Margaret Vitrano highlighted that the S&P 500 index declined 4.27%, whereas the growth-heavy NASDAQ and Russell 1000 Growth Index fell 10.42% and 9.97%, respectively.
Elaborating more on the quarterly market performance, the portfolio managers noted that the Russell Growth Index underperformed the Russell Value Index by more than 1,200 basis points indicating that while large-cap stocks were impacted, the growth sector took the major hit. Tariffs were only one of the headwinds affecting the performance and the overall backdrop also includes the launch of Chinese LLM DeepSeek which questioned the AI capital expenditure of various large and mega-cap stocks. This capital expenditure bubble infected the performance of other “Magnificent Seven” to an extent that only one of the “Mag Seven” companies could outperform the Russell 1000 Index.
Erica Furfaro and Margaret Vitrano noted that their Large Cap Growth ESG strategy performed better than the benchmark amidst all the uncertainty. Their strategy takes the Russell Growth Index as a benchmark. The managers noted that the strategy revolved around being underweight for the Mag Seven and the IT sector. They also highlighted that balancing the portfolio with strong stocks across IT, communication, and financial services also played a pivotal role in generating more relative returns.
The investment fund also noted moving towards a “moving to the middle” approach, which refers to adjusting their portfolio to be less concentrated in any single sector and more balanced across different types of growth companies. Clearbridge has reduced its overweight position in healthcare and increased exposure to the IT sector, which was previously underweight. The fund believes this recalibration positions the portfolio for an economic slowdown. Lastly, Erica Furfaro and Margaret Vitrano noted that the first quarter witnessed the earnings growth broaden away from the Mag Seven and other large-cap stocks outside the big tech names delivered better earnings. They anticipate that, unless there is a recession, earnings growth from industrial and healthcare companies will begin to catch up with the technology sector in 2025.
With that let’s take a look at the 11 best-performing large-cap stocks so far in 2025.
An investor analyzing the performance of the Midstream/Energy stocks at a trading desk.
Our Methodology
To curate the list of 11 best-performing large-cap stocks so far in 2025, we used the Finviz stock screener and Yahoo Finance. Using the screener we aggregate a list of large-cap stocks that have performed well on a year-to-date. Next, we cross-checked the performance from Yahoo Finance and ranked the stocks in ascending order of their year-to-date performance. We have also added the market capitalization of each stock and the hedge fund sentiment as well, as of Q4 2024. Please note that the data was recorded on May 2, 2025.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
11 Best Performing Large Cap Stocks So Far in 2025
11. Anheuser-Busch InBev SA/NV (NYSE:BUD)
Market Capitalization: $129.282B
Number of Hedge Fund Holders: 31
Year-To-Date Performance: 32.73%
Anheuser-Busch InBev SA/NV (NYSE:BUD) is a multinational beer manufacturing and distribution company based in Belgium. It is also recognized as one of the world’s largest brewers. Its core activities include Beer Production and Sale of Soft Drinks and Non-Alcoholic Beverages.
On April 28, Jefferies analyst Ed Mundy maintained a Buy rating on the stock with a price target of €70. The company has been focusing on its three-pillar growth strategy of growing its beer categories, digitization, and monetization of the ecosystem. During fiscal 2024, this strategy delivered an all-time high revenue growth of 2.7% with 75% growth in its markets. Moreover, Anheuser-Busch InBev SA/NV (NYSE:BUD) noted that they invested $7.2 billion in sales and marketing in 2024, concentrating on its megabrands and premium platforms. These investments have driven more than 40% revenue growth for megabrands since 2021.
Lastly, one of the key focuses of Anheuser-Busch InBev SA/NV (NYSE:BUD) has been the digitization of its route-to-market. Management noted that new digital platforms now account for 75% of its revenue. The company has performed positively despite the tariff pressure, it ranks as one of the best-performing large-cap stocks so far in 2025.
10. Newmont Corporation (NYSE:NEM)
Market Capitalization: $58.5B
Number of Hedge Fund Holders: 69
Year-To-Date Performance: 34.75%
Newmont Corporation (NYSE:NEM) is the world’s largest gold mining company and a producer of silver, zinc, copper, and lead. The company operates a diverse portfolio of mines and projects across Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea.
On April 29, Goldman Sachs analyst Hugo Nicolaci maintained a Buy rating on the stock with a price target of A$93.4. In February 2024, Newmont Corporation (NYSE:NEM) announced a comprehensive divestiture program to streamline its portfolio and focus on tier-1 gold and copper. As a result, the company has divested six non-core operations. These divestitures were finalized in April 2025 and generated more than $2.5 billion in after-tax cash proceeds in 2025 and a total of $3.2 billion when including prior-year transactions.
Moreover, Newmont Corporation (NYSE:NEM) reported improvement during its fiscal first quarter of 2025. The company reported a net income of $1.9 billion, noting that it remains on track to meet its 2025 guidance. It is one of the best-performing large-cap stocks so far in 2025.
9. Sea Limited (NYSE:SE)
Market Capitalization: $84.091B
Number of Hedge Fund Holders: 86
Year-To-Date Performance: 35.63%
Sea Limited (NYSE:SE) is a leading internet and technology company based in Singapore. It operates through three main business segments including Digital Entertainment, E-commerce, and Digital Financial Services. On April 25, Bank of America Securities analyst Sachin Salgaonkar maintained a Buy rating on the stock with a price target of $160.
The analyst likes the growth potential and competitive edge of Sea Limited (NYSE:SE). He noted that despite the challenges, the company’s E-Commerce segment is anticipated to grow its GMV by 20% during the year. Moreover, the segments’ focus on growing its logistics and live streaming is a significant edge. Salgaonkar noted that Sea Limited (NYSE:SE) has shown better conversion rates via live streaming. Considering these factors, the analyst anticipates that the company will achieve 2% to 3% EBITDA margins.
During fiscal 2024, the company grew its GMV by 28% year-over-year to reach $100 billion. Moreover, management also noted that they achieved adjusted EBITDA profitability for its operations in Brazil and Asia. Sea Limited (NYSE:SE) is one of the best-performing large-cap stocks so far in 2025.
Lakehouse Global Growth Fund stated the following regarding Sea Limited (NYSE:SE) in its March 2025 investor letter:
“Sea Limited (NYSE:SE) delivered an impressive result with a healthy combination of strong growth and improving profitability. Revenue grew 37% to $5.0 billion – the fastest growth in nearly three years – and adjusted EBITDA grew 366% to $591 million. The company’s core e-commerce business, Shopee, continued to extend its leadership across key markets, namely Indonesia and Thailand, with overall Gross Merchandise Volume (GMV) increasing 28% to $28.6 billion. Shopee’s marketplace take rate also improved 160 bps year on-year to 12.8%, driven by higher commissions and increased ad adoption. Importantly, recent fee hikes haven’t slowed GMV growth, which is a testament to Shopee’s pricing power driven by the value it creates for sellers.”
8. Agnico Eagle Mines Limited (NYSE:AEM)
Market Capitalization: $56.628B
Number of Hedge Fund Holders: 53
Year-To-Date Performance: 37.04%
Agnico Eagle Mines Limited (NYSE:AEM) is a Canadian-based gold mining company, which is ranked among the top three largest producers of gold in the world. The company specializes in producing gold and other precious metals. Its operations include multiple mines such as the Canadian Malartic Complex, Detour Lake, Fosterville, Goldex, Kittilä, La India, LaRonde Complex, Macassa, Meadowbank Complex, Meliadine, and Pinos Altos.
On May 2, CIBC analyst Anita Soni maintained a Buy rating on the stock with a price target of $119. Agnico Eagle Mines Limited (NYSE:AEM) benefited significantly from the increased gold prices. During the first quarter of 2025, it produced 874,000 ounces of gold with a cash cost of $903 per ounce, identical to the cost a year ago. However, the gold prices rose more than $1000 per ounce year-over-year thereby helping the company. This led the earnings per share higher to $1.53 per share from $0.76 per share in the same period last year.
In addition, Agnico Eagle Mines Limited (NYSE:AEM) has made record investments in exploration and development, focusing on its five key value drivers. It is expanding Detour Lake and Canadian Malartic to over a million ounces per year each, progressing construction at Upper Beaver, advancing Hope Bay, and developing the San Nicolas copper project. Agnico Eagle Mines Limited (NYSE:AEM) ranks as one of the best-performing large-cap stocks so far in 2025.
7. Howmet Aerospace Inc. (NYSE:HWM)
Market Capitalization: $61.709B
Number of Hedge Fund Holders: 58
Year-To-Date Performance: 37.76%
Howmet Aerospace Inc. (NYSE:HWM) is a leading aerospace and defense company. It specializes in manufacturing complex components for aircraft, heavy vehicles, and industrial systems. The company operates through several business segments including Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.
On May 2, Truist raised the firm’s price target on the stock to $161 from $136 and kept a Buy rating on the shares. The firm noted that the company exceeded earnings expectations in Q1, driven by its execution, revenue mix, and pricing. Howmet Aerospace Inc. (NYSE:HWM) reported a record revenue of $1.94 billion during the quarter, reflecting a 6% increase year-over-year. Management noted that the growth was driven by the commercial aerospace and defense segment.
Analysts have noted that the aerospace and defense segment is one of the safest segments considering the current uncertainty. The segment is benefitting from the geo-political tensions around the globe. Management of Howmet Aerospace Inc. (NYSE:HWM) has raised its full-year revenue and EBITDA guidance and now expects revenue to be at least $7.88 billion for the full year. It is one of the best-performing large-cap stocks so far in 2025.
Delaware Ivy Core Equity Fund stated the following regarding Howmet Aerospace Inc. (NYSE:HWM) in its Q3 2024 investor letter:
“Howmet Aerospace Inc. (NYSE:HWM) – Though recovery in large airplane manufacturing is uneven due to supply constraints (affecting both Boeing and Airbus), this manufacturer of airframe and jet-engine components was a prime beneficiary of higher production rates across the industry in addition to higher content per engine. Second-quarter earnings surprised materially to the upside.”
6. Wheaton Precious Metals Corp. (NYSE:WPM)
Market Capitalization: $36.795B
Number of Hedge Fund Holders: 36
Year-To-Date Performance: 39.66%
Wheaton Precious Metals Corp. (NYSE:WPM) is a Canadian precious metal streaming company that operates by partnering with other mining companies. The company provides capital to these partners upfront in exchange for the right to purchase a fixed proposition of production at predetermined rates. This allows the company to gain exposure to these precious metals without having to extract them.
On April 23, National Bank raised its price target on the stock to C$135 from C$130 and kept an Outperform rating on the shares. During fiscal 2024, the company achieved a record revenue and operating cash flow. Wheaton Precious Metals Corp. (NYSE:WPM) delivered $1.285 billion in revenue and $1.028 billion as cash flow. Management attributed this to improved portfolio growth with 635,000 gold equivalent ounces for the year, which exceeded expectations. In addition, the company also secured four new streams and royalties and made key agreements to increase attributable production. The company’s five-year forecast projects a 40% increase in annual production, targeting 870,000 GEOs by 2029. It is one of the best-performing large-cap stocks so far in 2025.
5. Spotify Technology S.A. (NYSE:SPOT)
Market Capitalization: $132.056B
Number of Hedge Fund Holders: 101
Year-To-Date Performance: 39.83%
Spotify Technology S.A. (NYSE:SPOT) is the world’s largest music streaming platform. The company provides a platform that allows users to access, discover, and manage a vast library of over 100 million songs, nearly 7 million podcast titles, and 350,000 audiobooks. The company offers two main tiers including the freemium subscription and the premium account.
On May 2nd, Loop Capital analyst Alan Gould raised the firm’s price target on the stock from $435 to $550, while keeping a Hold rating on the shares. The analyst noted that while the company reported quarterly results reflecting above-expectation subscriptions, however, it missed the guidance on ad-supported revenues.
During the fiscal first quarter of 2025, Spotify Technology S.A. (NYSE:SPOT) grew its monthly active users by 10% year-over-year and premium subscribers by 12%. This took the total revenue up by 15% to reach $4.19 billion. Moreover, the gross profit also improved by 32% during the same time. Management noted that they have launched Partner Programs in the US, the UK, Canada, and Australia, that allow video podcast creators to monetize their content through multiple revenue streams. As a result, the video podcast consumption on the platform has increased by over 20%, and creator payouts have grown by 300% in only a month. Spotify Technology S.A. (NYSE:SPOT) is one of the best-performing large cap stocks so far in 2025.
JDP Capital Management stated the following regarding Spotify Technology S.A. (NYSE:SPOT) in its Q1 2025 investor letter:
“Spotify Technology S.A. (NYSE:SPOT) – Spotify remains our largest position. In the fourth quarter the company’s free cash flow was up 123% over last year resulting from strong operating leverage that the market had not priced in the valuation. Spotify ended 2024 with 675 million subscribers between paid and ad supported. Spotify and YouTube are the primary beneficiaries of the mega trend shift from linear media to podcasting.
One area of disappointment, and an area for possible concern, is the company’s challenges to grow advertising revenue and profitability. Advetising is an important component to the next leg of the company’s profitability inflection and ability to achieve management’s goal of €20 billion in future operating profit. The market has thus far been willing to ignore lagging advertising revenue because of continued growth in paid subscriptions and ability to sustain price hikes. In 2024 advertising only grew 7% representing about 12% of total revenue. Spotify is still struggling with targeting and performance advertising metrics that can compete with other scaled players like YouTube or Instagram. Although not yet alarming to the investment thesis, the lack of advertising revenue growth is something we are watching closely as the economy softens. The stock was up about 20% in the first quarter.”
4. Lloyds Banking Group plc (NYSE:LYG)
Market Capitalization: $79.26B
Number of Hedge Fund Holders: 11
Year-To-Date Performance: 40.19%
Lloyds Banking Group plc (NYSE:LYG) is a UK-based financial services company that provides a range of banking services. The company operates through three main business segments including the Retail, Consumer Banking, and Insurance, Pensions, and Investment Segments.
The bank benefited from the resilient economy of the United Kingdom in the fiscal first quarter of 2025. Lloyds Banking Group plc (NYSE:LYG) reported a statutory profit after tax of £1.1 billion for Q1 2025, reflecting 62% growth over the previous quarter. Moreover, the net income grew 4% year-on-year to £4.39 billion, driven by increases in both net interest income and other income streams. Management noted that it is focusing on digital innovation and new customer solutions to help individuals and businesses manage their finances more effectively.
Lloyds Banking Group plc (NYSE:LYG) has reaffirmed its guidance for the full year, with an underlying net income of £13.5 billion and an operating cost of £9.7 billion. It is one of the best-performing large-cap stocks so far in 2025.
Oakmark Global Fund stated the following regarding Lloyds Banking Group plc (NYSE:LYG) in its Q1 2025 investor letter:
“Lloyds Banking Group plc (NYSE:LYG) was the top contributor during the quarter. The U.K.-headquartered diversified bank’s stock price rose throughout the quarter as it posted fiscal-year 2024 results where net-interest income modestly outperformed consensus expectations. In addition, Lloyds issued fiscal-year 2025 and 2026 guidance forecasting robust net-interest mar gin expansion and announced a 1.7 billion GBP (Great Britain Pound) share buyback. We continue to monitor the Motor Vehicle provision following the onerous appellate court ruling and are optimistic about a favorable ruling from the Supreme Court. In our view, the bank has a strong management team and a balance sheet with high levels of capital, liquidity and reserves which can help it unlock further value.”
3. CVS Health Corporation (NYSE:CVS)
Market Capitalization: $86.599B
Number of Hedge Fund Holders: 74
Year-To-Date Performance: 54.66%
CVS Health Corporation (NYSE:CVS) is a leading health solutions company based in the United States. It operates through several segments including the Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness. It serves over 37 million people with health insurance products and operates more than 1,000 walk-in and primary care clinics.
The company recently released its first-quarter results for 2025 and its full-year guidance. CVS Health Corporation (NYSE:CVS) posted a revenue of $94.6 billion, reflecting a 7% increase year-over-year. Moreover, the operating income also grew significantly to reach $4.6 billion. The growth was driven by Health Care Benefits which grew 8% year-over-year, with medical membership stable at approximately 27.1 million. Notably, management has announced plans to exit the individual exchange business and focus on other growth areas and also introduced new solutions to improve patient care.
Looking ahead, management has raised EPS guidance for 2025 to a range of $6.00 to $6.20 from $5.75 to $6.00. Patient Capital Opportunity Equity Strategy also noted CVS Health Corporation (NYSE:CVS) in its Q1 2025 investor letter. Here’s what the fund said about the company:
Patient Capital Opportunity Equity Strategy stated the following regarding CVS Health Corporation (NYSE:CVS) in its Q1 2025 investor letter:
“CVS Health Corporation (NYSE:CVS) went from a top detractor in the fourth quarter to the top contributor in the first quarter. The company faced significant pressure last year from disappointing Medicare Advantage results—an industry-wide challenge. We felt the issues were well understood and expected improvements in pricing for 2026. We took the opportunity to add to the position. Since then, CMS (Center for Medicare & Medicaid Services) has announced 2026 rates at the high end of expectations, supporting a significant earnings power recovery. On a longer-term basis, we continue to think CVS has an attractive combination of assets owning a healthcare benefits business (Aetna), a pharmacy-benefits manager (Caremark), an in-home evaluation business (Signify Health) and in-home primary care business (Oak Street Health) supporting the industry transition to a value-based care model. With new leadership in place, a 4% dividend yield and trough earnings behind us, we see continued attractive prospects ahead.
We added to CVS Health Corp. (CVS) as it hit a decade low, believing that the problems in the Medicare Advantage business would be sorted out. So far this thesis has played out with 2026 rates showing strong improvement.”
2. Deutsche Bank Aktiengesellschaft (NYSE:DB)
Market Capitalization: $59.92B
Number of Hedge Fund Holders: 15
Year-To-Date Performance: 55.62%
Deutsche Bank Aktiengesellschaft (NYSE:DB) is an international financial services company based in Germany. The company operates a bank and a holding company for other operations. Its core business activities are administered through various segments including the Corporate Bank, Investment Bank, Private Bank, and Asset Management.
The company released its fiscal first quarter results for 2025 on April 29. Management noted that the bank is optimizing its resource allocation and transforming its operating model to reduce branches and improve digitalization. Deutsche Bank Aktiengesellschaft (NYSE:DB) generated €8.5 billion in revenue during the quarter, reflecting a 10% increase year-over-year. Notably, the profitability indicated by pretax profits grew 39% to reach €2.8 billion. Management noted that the revenue growth was broad-based with 71% growth coming from Corporate Bank, Private Bank, Asset Management, and Fixed Income & Currencies Financing divisions.
On May 1, Citi raised the firm’s price target on the stock from Euro 20.80 to EUR 22.30, while keeping a Neutral rating. It is one of the best-performing large-cap stocks so far in 2025.
1. Banco Santander, S.A. (NYSE:SAN)
Market Capitalization: $121.14B
Number of Hedge Fund Holders: 17
Year-To-Date Performance: 59.42%
Banco Santander, S.A. (NYSE:SAN) is another international financial services company. It has core operations in retail and commercial banking, along with services in asset management, insurance, and mortgage lending. Its business segments are segregated based on its geographical operations such as Continental Europe, United Kingdom, Latin America, and the United States.
The company recently released its fiscal first quarter results for 2025. Banco Santander, S.A. (NYSE:SAN) grew its attributable profit by 19% year-over-year to reach €3.4 billion. Moreover, it also grew its return on tangible equity by 15.8%, surpassing previous targets. Management noted that its “One Transformation” program is delivering results. Process automation, product simplification, and 23% growth in digital sales have contributed to cost reduction and operational leverage. The bank has reaffirmed its intention to distribute up to €10 billion to shareholders through share buybacks and dividends for 2025 and 2026. Banco Santander, S.A. (NYSE:SAN) has performed well on a year-to-date basis making it the best performing large cap stock so far in 2025.
While we acknowledge the potential of SAN to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SAN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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