Fidelity Magellan Nibbles on Tech, Stays Close to S&P 500
In returns and sector weights, the fund looks a lot like its index.
Fidelity Magellan's (FMAGX) Bob Stansky apparently isn't in the mood to do anything dramatic.
At first glance, this portfolio bears more than a passing resemblance to the S&P 500 index. As of June 30, 2001, most of the fund's sector weights were roughly in line with the index's, and giant-cap stocks such as Pfizer (PFE), General Electric (GE), and Citigroup (C) occupied prominent places among the fund's top-10 holdings. The biggest exception to Stansky's indexlike stance was technology, where the fund's 14.3% stake was 4 percentage points lower than the S&P 500's. But even that bet against technology was smaller than his wager against the sector on March 31, when the fund had a 6-percentage-point tech underweight. That may indicate that Stansky has used the sector's weakness in 2001 to do some modest buying. In the past, Stansky has often tried to buy growth on the cheap by purchasing stocks in an area when it is out of favor.
Scott Cooley does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.
Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
We’d like to share more about how we work and what drives our day-to-day business.
We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.
How we use your information depends on the product and service that you use and your relationship with us. We may use it to:
To learn more about how we handle and protect your data, visit our privacy center.
Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.
To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.
Read our editorial policy to learn more about our process.