Fidelity Adds to Biogen, Amazon and Sells Microsoft, Amex

Updated on

Fidelity Management & Research LLC added shares of Biogen Inc. last quarter, sold stock in Microsoft Corp. and American Express Co.

The investment firm added 2 million shares of Biogen and the value of its stake increased by $2.5 billion to $9.17 billion as of March 31, the biggest gain among previously disclosed holdings, according to a quarterly filing with the Securities and Exchange Commission. Fidelity also added 2.3 million shares of Inc. and the value of its shares gained by $1.6 billion to $5.1 billion.

Fidelity cut its investment in Microsoft by 50.2 million shares, leaving 163.5 million valued at $6.65 billion, a decline of 33 percent. It reduced holdings of American Express by almost 14 million shares, leaving 17.5 million, valued at $1.37 billion.

Fidelity’s disclosed equity holdings rose in value by 2.1 percent to $736.04 billion during the quarter, a period when the Standard & Poor’s 500 Index of U.S. equities rose 0.4 percent.

The firm owned shares in 2,384 companies at the end of the quarter and 126 of them were newly reported, led by a $224.2 million stake in Sabre Corp. and a $222.8 million holding in Vista Outdoor Inc.

Money managers who oversee more than $100 million in equities in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.

(An earlier version of this story was corrected to change description of Fidelity.)

Before it's here, it's on the Bloomberg Terminal. LEARN MORE