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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: johnd who wrote (36733)	1/18/2000 1:35:00 PM
From: johnd	Read Replies (3) \| Respond to of 74651

Fidelity's Magellan builds tech, energy holdings ------- Microsoft Corp (NasdaqNM:MSFT - news) became Magellan's largest holding, forcing General Electric Co. (NYSE:GE - news), which had been No. 1 into second place. ------- BOSTON, N.H., Jan 18 (Reuters) - Fidelity Investment's Magellan Fund, the largest U.S.-based mutual fund with more than $105.9 billion in assets, has added Exxon Mobil Corp (NYSE:XOM - news) and Texas Instruments Co (NYSE:TXN - news) to its closely watched top 10 holdings. The two issues replaced MCI WorldCom Inc (NasdaqNM:WCOM - news) and Merck & Co (NYSE:MRK - news) on the list of holdings as Dec. 31, according to Fidelity's year-end issue of its fund guide. Magellan, which is closed to most new investors, had $105,939,500 in assets under management at the century's end. It began the decade with $12.70 billion in assets. For 1999, Magellan returned 24.05 percent beating the benchmark Standard & Poor's 500 Index, which gained 21.04 percent for 1999. Magellan fund manager Robert Stansky shuffled the top 10 places on the list as well. Microsoft Corp (NasdaqNM:MSFT - news) became Magellan's largest holding, forcing General Electric Co. (NYSE:GE - news), which had been No. 1 into second place. The rest of the top 10 holdings, which represent 27.4 percent of the assets, include: Home Depot Inc. , Cisco Systems Inc. (NasdaqNM:CSCO - news), Citigroup Inc. (NYSE:C - news), Wal Mart Stores Inc (NYSE:WMT - news), Lucent Technologies Inc. (NYSE:LU - news) and Tyco International Ltd. (NYSE:TYC - news)