European fund managers increased their weightings in financials and healthcare while reducing exposure to basic materials and consumer defensive sectors. BGF European sold out of Lloyds Banking Group at the end of 2025. RELX and SAP are 5-star stocks owned across fund portfolios. The top 10 holdings in large-cap European equity funds saw significant increases in financial services and healthcare sectors, with slight rises in industrials and consumer cyclicals.

Among the most widely held European stocks, ASML Holding is present in four funds, while RELX, SAP, and Schneider Electric appear in three funds. Portfolio composition varies among funds, with different allocations to value, growth, and blended strategies. Notable buys and sells among top-rated European funds include Roche Holding becoming the largest holding in BGF European Value’s portfolio.

In the top 10 holdings of leading European equity funds, Lloyds Banking Group was the most significant sale in BGF European’s portfolio. Roche Holding became the largest holding in BGF European Value’s portfolio. Deutsche Post dropped in Brandes European Value’s top 10 holdings. Inditex rose in Comgest Growth Europe’s top 10 despite sales affecting all top 10 stocks.

Fidelity European Dynamic Growth saw heavy buying of Prudential stock, pushing it into the top 10 in December. Nordea Bank entered M&G European Strategic Value’s top 10 after a purchase in December. Oil company Shell remains the most significant holding in Robeco QI European Conservative Equities portfolio. The best European funds are actively managed with at least EUR 500 million in assets and a Gold or Silver Medalist Rating.

Read more at Morningstar: 10 Stocks the Best European Fund Managers Have Been Buying and Selling