Fidelity Magellan drops Lucent from its top holdings, maintains Cisco among its top 10 holdings for the future:
Friday April 16, 1:08 pm Eastern Time
Fidelity's Magellan adds Time Warner, Citigroup
BOSTON, April 16 (Reuters) - Fidelity Investments' flagship Magellan fund added Time Warner Inc. (NYSE:TWX - news) and Citigroup Inc. (NYSE:C - news) to its top 10 holdings as of the end of March, the world's largest mutual fund family reported on Friday.
The two stocks squeezed Intel Corp. (Nasdaq:INTC - news) and Lucent Technologies (NYSE:LU - news) from the ranks of Magellan's top holdings, Fidelity reported in its monthly mutual fund guide.
Fidelity said Magellan's assets under management reached $90.7 billion at the end of March, increasing from $85.8 billion at the end of February.
General Electric Co (NYSE:GE - news). held its position as Magellan's top holding at the end of the first quarter, Fidelity reported.
Other stocks keeping their spots in Magellan's top 10 holdings included Microsoft Corp. (Nasdaq:MSFT - news), MCI WorldCom Inc.(Nasdaq:WCOM - news), America Online Inc (NYSE:AOL - news). , Home Depot Inc., MCI WorldCom Inc.(Nasdaq:WCOM - news), America Online Inc (NYSE:AOL - news). , Home Depot Inc.., Cisco Systems Inc (Nasdaq:CSCO - news). , Merck and Co. Inc. (NYSE:MRK - news) , and Wal-Mart Stores Inc. (NYSE:WMT - news).
Fidelity closed Magellan, the nation's largest mutual fund, to most new investors in August 1997.
biz.yahoo.com
|
