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Which Mutual Funds Hold Twitter?

T. Rowe Price to close New Horizons to most new investors, Vanguard's fixed-income group head to retire in March, Columbia Wanger's Chuck McQuaid to step down as CIO and Columbia Acorn comanager, and some tragic news at First Eagle.

Morningstar Fund Analysts, 11/07/2013

With Twitter TWTR going public today, we thought it might be worth providing a list of U.S. open-end funds with exposure to Twitter. Except where noted, the portfolio dates are as of Sept. 30.

Both T. Rowe Price and Morgan Stanley became big holders of Twitter by investing in Twitter early on, in private fundraising. 

T. Rowe Price New Horizons PRNHX--$112 million (0.82% weight)
T. Rowe Price Growth Stock PRGFX--$111 million (0.30% weight)
T. Rowe Price Science & Tech PRSCX--$54 million (1.75% weight)
Morgan Stanley Institutional Small Company Growth MSSGX--$37 million (2.16% weight), as of June 30
T. Rowe Price New America Growth PRWAX--$9.9 million (0.24% weight)
ING T. Rowe Price Growth Equity ITGIX--$4.4 million (0.31% weight)
T. Rowe Price Global Technology PRGTX--$4.1 million (0.49% weight)
VALIC Company I Science & Technology VCSTX--$3.3 million (1.3% weight), as of Aug. 31
Optimum Large Cap Growth OALGX--$774,000 (0.08% weight)

T. Rowe Price to Slow Inflows at New Horizons
Bronze-rated T. Rowe Price New Horizons PRNHX will close to new investors after the market's close on Dec. 31. The fund's category-topping performance over the trailing three and five years has attracted $1.5 billion of new money since January 2012. Inflows and market appreciation have pushed assets up to $14.3 billion as of October, making it the biggest actively managed small-cap fund. The fund, which is up nearly 40% for the year to date through Nov. 6, will likely get a big boost from today's Twitter IPO: The fund was an early investor when it was a private company.

Silver-rated $9.5 billion T. Rowe Price Small-Cap Stock OTCFX and its $1.5 billion clone, T. Rowe Price Institutional Small-Cap Stock TRSSX, will also close to new investors after the market's close on Dec. 31, given strong inflows. Bronze-rated T. Rowe Price Small-Cap Value PRSVX, which has $9.4 billion in assets and has experienced net outflows in 2013, remains open.

Vanguard's Auwaerter to Retire
Vanguard's Bob Auwaerter has decided to retire from his post as the head of its fixed-income group after 32 years with the firm. He plans to step down in March 2014. His name isn't currently listed on any of Vanguard's bond funds, but Auwaerter, 58, has a long history of directly managing investor assets to good effect in earlier years, and he was instrumental in starting and building the firm's fixed-income group, according to CEO Bill McNabb. In Auwaerter's latest role of heading up the firm's fixed-income efforts, meanwhile, Vanguard notes that he has overseen nearly $750 billion in 70 different funds, across a broad swath of sectors, styles, and structures, including open-end, exchange-traded, and money market portfolios.

Vanguard's Gregory Davis is slated to take over Auwaerter's responsibilities, following what has turned out to be a relatively brief stint as the firm's CIO for the Asia Pacific region. Davis, 43, has overseen some $64 billion in that capacity but has also been responsible for $240 billion in assets managed by Vanguard's bond index group. Davis has been with Vanguard since 1999. 

Columbia Wanger CIO Stepping Back in 2014
In March 2014, Charles P. "Chuck" McQuaid is planning to step down as the president and chief investment officer of Chicago-based Columbia Wanger Asset Management. He will also relinquish his role as a comanager of the $21 billion, Bronze-rated Columbia Acorn LACAX, which he has managed since 1995. McQuaid, 60, will remain with the firm covering stocks (he's focused on the telecom sector in recent years). He will also continue to manage the $1.3 billion Columbia Thermostat CTFAX, though one of Columbia Wanger's international analysts--Christopher Olsen--will join him as a comanager in January 2014. Olsen is a potential successor to lead Columbia Thermostat when McQuaid officially retires, though McQuaid hasn't mentioned a retirement date yet.

Morningstar fund analysts cover more than 1,700 mutual funds and write regular commentary covering fund industry news, fund investing trends, picks, portfolio planning, international investing, and more.

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