I think way too much import is attached to the investment actions of most of the institutions.
All of the funds are run by people who don't risk their own money, they risk other people's money. They pay themselves very, very well even when the investments do poorly (and even much more when the investments do well). The biggest of the funds, like Blackrock, are so big that by necessity they have to make substantial investments in a great many companies. The "wisdom" of the funds managers is dubious.
Only occasionally, a manager of a fund will distinguish himself with very superior results. And only rarely, will he be able to replicate such results.