The $3.9 billion Fidelity Investment Aggressive Growth fund continued cutting its technology stock holdings in January after halving the holdings in the last two months of 2002.

At the end of January, the fund held 16.3% of its assets in technology companies, down from 41.7% in last October. Information technology stocks sank on the fund’s portfolio list from the top to third, after health care and consumer stocks, in January.

Fund manager Rajiv Kaul has cut back technology stocks since he assumed management of the fund in November. The fund lost 2% in the first two months of 2003, after a 41% loss last year.

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