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Tuesday June 14, 2011
Mega cap funds: 3 favorites for growth & value
by Jim Lowell, editor Fidelity Investor  My recent trades underlie my view that any sell off will be fodder for top notch stock pickers, but also that buying defensively in line with a good offense is best done in the mega-cap camp. I’m thinking of the mega cap stocks of the battle ship balance sheet variety, Texas- sized dividend producing, more cash than they can count let alone spend, emerging market capable kind. And as commodity prices dip, these companies could finally see performance lift such boats. Here are three mega stock funds that earn my buy rating: Fidelity Blue Chip Growth (FBGRX) Manager Sonu Kalra invests in well- known companies either included in the S&P 500 or DJIA or having a market cap of $1 billion or greater. He invests in companies that Fidelity believes show high potential for growth. It began trading in December 1987 and has a market value of close to $13 billion. Foreign investments make up 8.8% of the holdings. 
The top three sectors are information technology (34.8%), consumer discretionary (17%), and industrials (12.9%). The top ten holdings are Apple, Google, Exxon Mobil, Qualcomm, Amazon.com, Oracle, Philip Morris, Coca Cola, Walgreen, and Halliburton. Fidelity Blue Chip Value (FBCVX) Manager Michael Chren invests in well-known companies either included in the S&P 500 or DJIA or having a market cap of $1 billion or greater. He invests in companies that Fidelity believes are undervalued in the marketplace. It began trading in June 2003 and has a market value of almost $500 million. Foreign investments make up 16.8% of the holdings. The top three sectors are financials (24%), health care (15.9%), and energy (12.1%). The top ten holdings are Pfizer, Sprint Nextel, Seagate Technology, GE, Grupo Modelo, Chevron, Garmin, Citigroup, JPMorgan, and Wells Fargo. Fidelity Mega Cap Stock (FGRTX) Manager Matthew Fruhan invests in companies with mega market capitalizations such as stocks found in the S&P 100 Index, which is made up of 100 major, blue chip companies across the U.S. It began trading in December 1998 and has a market value of approximately $790 million. Foreign investments make up 11.8% of the holdings. The top three sectors are information technology (22.2%), financials (19.4%), and energy (11.9%). The top ten holdings are Wells Fargo, Exxon Mobil, JPMorgan, Apple, Chevron, Bank of America, PepsiCo, Pfizer, Cisco Systems, and Proctor & Gamble. Learn more about this financial newsletter at Jim Lowell's Fidelity Investor. 
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