Recent Changes in Fidelity Investments' Holdings

by: SA Editor Rocco Pendola

I am not sure whether it pays off or not, but it's at least interesting and, if properly contextualized, useful to see the moves the "big money" makes. The money doesn't get much bigger than Fidelity. In another Seeking Alpha article, I explore the investment firm's recent decisions to significantly scale back its holdings in Netflix (NASDAQ:NFLX). Because I spent the time delving into SEC filings -- something individual investors should probably do more of -- I wanted the research to count for something. Therefore, I pass along a few of Fidelity's recent moves that caught my eye.

In each case, I compare Fidelity's most recent reported holdings in the company via the SEC website with its stake at the end of December 2010, according to Yahoo Finance and additional SEC reports.

  • GT Solar International (SOLR). At the end of 2010, Fidelity owned 21,748,680 shares of SOLR. In an SEC filing dated, April 8, 2011, the Boston-based institution reports that it has since trimmed its stake to 9,163,100 shares. Fidelity's sales could represent profit taking. GT Solar shares have seen a nice run, hitting a 52-week high of $11.95 on January 24, 2011. Since then, SOLR has retreated a bit, closing at $10.00 on Friday. Despite the pullback, some observers see significant upside in the company, which is profitable and sits on cash reserves of about $320 million versus debt of $125 million.
  • China Finance Online (NASDAQ:JRJC). From the end of 2010, Fidelity has increased its position in this provider of premium financial information to investors in the People's Republic of China. At the end of 2010, FMR owned 2,866,404 shares of JRJC. On February 14, 2011, it reported holding more than 14,000,000 JRJC shares. In an April 8, 2011, SEC filing, Fidelity reports trimming its position to 8,005,180 shares. Shares of China Finance Online have lost considerable ground in recent months, dropping from a 52-week high of $8.59 hit twice in early November to Friday's closing price of $4.46.
  • Avnet (NYSE:AVT). According to Yahoo! Finance, Fidelity held 14,626,209 shares of AVT at the end of 2010. On it February 14, 2011, FMR filed a report noting ownership of 16,593,963 shares. Information in an April 8, 2011, report shows that Fidelity has 5,971,356 shares of Avnet. Avnet, which sells electronic components as well as enterprise computer and storage products, hit its 52-week high of $37.16 on February 16, 2011. It closed Friday's trading session at $34.26.
  • Cynosure (NASDAQ:CYNO). Fidelity appears to have closed out its position in this medical equipment supplier. As of December 2010, Fidelity held 733,468 shares of Cynosure. In an SEC filing dated April 8, 2011, the company reports a position of 0 shares. CYNO touched its 52-week high of $15.21 last week, however, the shares have since pulled back, closing at $13.74 on Friday. The shares have run up nicely in the last six months or so, ascending from a 52-week low of $8.80.
  • Auxilium Pharmaceuticals (NASDAQ:AUXL). At the end of 2010, Yahoo! Finance notes that Fidelity held 4,688,318 shares of Auxilium. This matches up to a February 14, 2011, SEC filing indicating the same position. The most recent report -- filed on April 8, 2011, shows that Fidelity now owns 2,274,784 AUXL shares. Auxilium develops and markets products to a wide range doctors, including primary care physicians, urologists, and surgeons. AUXL has slid steadily since last year's 52-week high of $38.50. They closed at $21.50 on Friday.
  • Celera (NASDAQ:CRA). Both Yahoo's 2010 year-end data and a February 14, 2011, SEC filing confirm that Fidelity held 7,467,704 shares of Celera. Fidelity decreased that number to 3,166,304, according to data from an April 8, 2011, SEC filing. Celera provides clinical products such as lab tests and other services to help physicians manage patients' diseases. The company agreed to be sold to Quest Diagnostics (NYSE:DGX) last month for $8.00 per share. On the news CRA spiked moving from March 17 closing price of $6.27 to a March 18 close of $8.40. The shares ended Friday's session at $8.11.
  • Clinical Data (NASDAQ:CLDA). Fidelity likely realized gains from the recent pop in shares of Clinical Data. Yahoo's 2010 year-end data and a February 14, 2011, SEC filing indicate that Fidelity owned 4,493,282 shares of the company. An SEC report filed on April 8, 2011, shows that Fidelity decreased its position to 988,714 shares. CLDA shares catapulted in January after the company received FDA approval for an anti-depressant drug. They jumped even further in February after receiving Forest Laboratories (NYSE:FRX) agreed to purchase Clinical Data for $30 a share. CLDA closed the day on Friday at $30.42.

Disclosure: I am short NFLX via long positions in NFLX puts.

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