Magellan drops AOL, Time Warner, adds AT&T, Lucent
BOSTON, July 15 (Reuters) - Fidelity's Magellan fund, the world's largest mutual fund, dropped Internet service provider America Online (NYSE:AOL - news) and media giant Time Warner (NYSE:TWX - news) from the ranks of its top 10 holdings at the end of June, Fidelity reported on Thursday.
Joining the top 10 holdings of the $97.5 billion fund at the end of June were telecommunication giant AT&T (NYSE:T - news) and telecom -equipment-maker Lucent Technologies (NYSE:LU - news), the mutual fund giant said in its quarterly mutual fund guide.
Magellan's top two holdings at the end of June were General Electric Co. (NYSE:GE - news) and Microsoft Corp. (Nasdaq:MSFT - news), which also held the top two slots at the end of March.
Rounding out Magellan's top 10 at the end of June were Home Depot Inc. (NYSE:HD - news), Citigroup Inc. (NYSE:C - news), MCI Worldcom Inc. (Nasdaq:WCOM - news), Cisco Systems Inc. (Nasdaq:CSCO - news), Lucent, Merck & Co. Inc. (NYSE:MRK - news), Wal-Mart Stores Inc. (NYSE:WMT - news), and AT&T.
Home Depot moved up from fifth to third among Magellan's top 10, while Citigroup rose from number eight at the end of March to number four at the end of June.
Magellan's net assets grew to $97.5 billion at the end of June, from $91.3 billion at the end of May.
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