The flagship Fidelity Contrafund (MUTF: FCNTX ) is one of the biggest mutual
funds on the planet, with over $80 billion in assets. Fidelity Contrafund
invests almost exclusively in undervalued growth and value stocks, but some of
its largest single holdings such as Apple Inc. (NASDAQ: AAPL ) and Google
(NASDAQ: GOOG ) are considered industry leaders. One of the oldest funds around,
Fidelity Contrafund is suitable for growth seeking investors who tolerate some
market volatility in search of high returns. Here are the specifics for the
Fidelity Contrafund for today's mutual fund spotlight: Investing Strategy :
This is a stock fund. More than 95% of the fund's assets are invested in
common stocks, and about 4% of the assets is in cash reserves. Less than 0.5% is
allocated to bonds. Expense Ratio: With a 0.92% expense ratio and no transaction
fee, Fidelity Contrafund is low to modestly priced compared to other funds in
the category. It also is among the higher Morningstar rated stocks in the
category with four stars. Top 5 Holdings: The top stocks in the Fidelity
Contrafund include mass media giants Apple, Inc . (NYSE: AAPL ) at 7.02% and
Google, Inc . (NASDAQ: GOOG ) at 4.79%, Warren Buffet's Berkshire Hathaway
Inc. A (NYSE: BRK.A ) at 3.25%, financial services giant Wells Fargo Company
(NYSE: WFC ) at 2.30% and media legend The Walt Disney Company (NYSE: DIS
)at 2.24%. Returns: The one-year return of the fund is strong at 18.6 %,
slightly better than the 18.2% return for the S&P 500 and 17.1% return for the
Dow Jones Industrial Average over the same period. Its five-year return of 3.4%
also beats the S&P 500's near 3% return during the period, but significantly
underperforms the Dow's 10.3% 5-year performance. Other Fund Statistics Total
Assets: $81.3 Billion (as of 5/1/11) Minimum Investment: $2,500 Fund manager:
William Danoff Manager's Tenure: Since September 1990
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