Products May 4, 2001
Fidelity's Magellan Fund Adds Time Warner to Top Holdings
April 17, 2000 (PLANSPONSOR.com) - Fidelity's
Magellan fund, a favorite in 401(k) plans, replaced Wal-Mart
Stores with Time Warner in its list of top 10 holdings in the
first quarter, the fund announced Monday
Reported by editors@plansponsor.com
The Magellan fund is found in many 401(k) portfolios, and is one of the world’s largest mutual funds.
The fund also underwent a style change during the quarter, and is now designated as a large capitalization value fund. For much of last year, Magellan was classified as a large cap blend.
Magellan continued to increase its technology holdings during the first quarter, allocating 35.1% to the sector at the end of March, compared with 30.5% at the end of January. Meanwhile, General Electric replaced Microsoft as the fund’s top holding.
Magellan is Fidelity’s biggest fund with over $109 billion in assets under management at the end of March.