Fidelity Investments and Wellington Management both increased their technology holdings in the first quarter, Bloomberg reports, citing regulatory filings. Altogether, Fidelity’s portfolios have a 20% exposure to information technology companies and 4.7% invested in telecommunication services companies.
Adding 2.9 million shares of Apple to its funds, Fidelity held 58 million shares representing 6.7% of outstanding shares as of the end of the first quarter. Wellington bought an additional 20 million shares, putting its stake at 2.3%.
Fidelity also purchased 22 million shares of Sandisk and 122 million shares of Sun Microsystems. As of the end of the quarter, Fidelity had an 11% stake in Google, making it the biggest shareholder.
Wellington bought 11 million shares of BEA Systems and 30 million shares of Oracle.