Two News Articles:
Summary Of Recent Insider Stock Transactions
Dow Jones Newswires -- February 26, 1999
FLEXTRONICS INTERNATIONAL LTD. affiliate Shing Leong Hui
registered to sell a total of 100,000 shares of the company's
common stock. Hui intended to sell the shares on Feb. 23 over
the Nasdaq Stock Exchange. NationsBanc Montgomery Securities
LLC was listed as broker for the transaction.
and
quote.bloomberg.com
Jeffrey Vinik Adds Technology Shares in 4th Quarter
Boston, Feb. 23 (Bloomberg) -- Jeffrey Vinik, a former manager
of Fidelity Investments' flagship Magellan Fund who now runs a
hedge fund, added several new technology holdings to his
portfolio in the fourth quarter, according to government filings.
Boston-based Vinik Asset Management LP bought 2.3 million shares
of Compaq Computer Corp., making it the fund's seventh- largest
holding. He also bought Electronics for Imaging Inc., Rational
Software Corp. and Flextronics International Ltd.
Vinik, who has been a big technology investor since his days at
Fidelity, also sold or trimmed some computer-related shares. He
sold all of his 711,400 shares of Advanced Micro Devices Inc.
and unloaded 579,000 shares of Intel Corp., although it is still
among the fund's top 10 holdings. ''He's done stock picking in
the technology sector in the fourth quarter,'' said Fred Hult,
research analyst at Carson Group, a New York-based research firm
that tracks holdings of institutional investors.
Vinik Asset Management has $3.9 billion in stock holdings,
according to SEC filings. The filings don't reflect any of the
fund's short positions, that is shares that Vinik borrows and
immediately sells in the hope of buying them back at a lower
price.
Vinik also bought some retail shares in the last three months
of 1998. He purchased 643,200 shares of consumer electronics and
home office retailer Best Buy Co., a new position, and added to
his holding of AnnTaylor Stores Corp. His second-largest position
is Abercrombie & Fitch Co., although he sold 156,700 shares in
the fourth quarter.
Vinik is known as an active trader, meaning his portfolio today
may not look like it did at the end of December. Mark Hostetter,
Vinik's chief operating officer, wasn't available for comment.
At the end of December, Vinik's biggest holdings were Maxtor Corp.,
Abercrombie & Fitch, Tyco International Ltd., Comverse Technology
Inc. and Electronics For Imaging Inc.
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