Fidelity Added in January

[Orlando]

Looks like no worries at FMR. The Fidelity website updated their monthly holdings last night for Jan 31 positions. They list all holdings, not just the top ten in a given fund. I only saw one fund with a slight decrease in shares from 12/31. The others had small increases. I also think that IOC is showing up in funds that did not have it at all at year end. While the variable annuity Contrafund has been a holder for some time, the mutual fund Contrafund now has around 248,000 shares. I believe this may be a new holding.

I think it is safe to say that Fidelity added a fair amount in January. It is also interesting that most of their holdings of IOC are in large cap funds. We have plenty of room to grow.

As of Jan 31, we know that Wells Fargo, American Funds and Fidelity have all either held steady or added. I would assume that all of those folks have pretty good access to information on the situation with IOC.

[admin]

Thanks for that Orlando

[Palm]

But Orlando do you think they missed the filing where Soros reduced his holdings? Probably because no one wants to go opposite Soros in investment picks. Also, I would guess when they saw the Flex release thay dumped, so February they will probably have sold out. See if you can find that out. Thanks.

[Getitrt2]

Palm, I don't think any of those funds would have sold for those reasons. They have reached fundamental long-term conclusions on the company and stock, and I wouldn't be surprised if they bought more on the declines and are buying more now.

[Orlando]

Palm, I checked with all three. They told me they held in February and will be holding in March as well. They said they follow Tree's posts and as long as he is holding, they are not going anywhere.

[kerekesc]

I believe that the Soros divestiture is way over-blown. We all know that there are many legitimate reasons to sell a stock, but there is only one reason to buy. If this remains true, then the only legitimate question that remains is: Why does Soros still own 3% of IOC's stock....about $90,000,000? worth?

[Palm]

Getit, I was tongue in cheek on that. Soros did what he did because that's what his new portfolio manager was hired to do, I'm convinced. I would guess they held most or all of the balance.

[Orlando]

OK, since Palm came clean I will, too. I did not check with the three institutions. Not sure whether or not they follow Tree's posts.