Magellan increases health, finance stake


BOSTON -- Fidelity Investments Magellan Fund, the largest U.S. mutual fund, boosted its holdings of finance and health stocks in December, while cutting its investments in technology and energy.

The fund's assets under management climbed to $83.8 billion during the month from $63.0 billion at the end of November. According to the company's monthly fund guide, Magellan's holdings in finance stocks had risen to 13.1 percent of assets by the end of December from 12.3 percent at the end of November.


Technology stocks dropped to 12.9 percent from 14.6 percent, health shares rose to 10.5 percent from 10.1 percent and energy-related shares fell to 10.2 percent from 10.5 percent.

Most of Magellan's holdings in other sectors held steady during the month. The fund's cash investments fell to 6.3 percent from 6.8 percent. Holdings in foreign assets edged down to 8.9 percent of assets from 9.0 percent.

Among individual stocks, Magellan's 10 largest holdings at the end of December were General Electric Co., Microsoft Corp., Citicorp, Philip Morris Cos. Inc., Merck & Co. Inc., Cendant Corp., Home Depot Inc., Bristol-Myers Squibb Co., Wal-Mart Stores Inc., and Federal National Mortgage Association (Fannie Mae)..

Webmaster's Comments.

Magellan is the real parent of Charter Hospital ( a for Profit ) corporation and we all know that mom and pop does not let their babies get hurt specially when the child brings home so much money. Then there is me. An immigrant on the land of milk and honey whom was so naïve to think that in a capitalist country the little poor guy has a chance. Even if I was to win my case does any one think that I truly will get employment in a hospital setting? And if I do will they forget ? $83 Billion dollars? What can't they buy in this country.?

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