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Vinik Asset Management

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BUSINESS
October 24, 1997 | Bloomberg News
Jeffrey Vinik, the former manager of Fidelity Investments' flagship Magellan Fund, posted 93.8% returns after fees in the first 11 months he's managed money on his own, said a person familiar with Vinik's performance. Vinik Asset Management, which he started in Boston on Nov. 1, 1996, invests in U.S. stocks on behalf of institutions and wealthy individuals who commit a minimum of $2 million to his hedge fund. The returns through Sept.
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BUSINESS
February 24, 1999
Jeffrey Vinik, a former manager of Fidelity Investments' flagship Magellan Fund who now runs a hedge fund, added several new technology holdings to his portfolio in the fourth quarter, according to government filings. Boston-based Vinik Asset Management LP bought 2.3 million shares of Compaq Computer Corp., making it the fund's seventh-largest holding. Vinik also bought Electronics for Imaging Inc., Rational Software Corp. and Flextronics International Ltd.
BUSINESS
June 2, 1999 | Bloomberg News
Jeffrey Vinik, former manager of Fidelity Investments' flagship Magellan Fund, cut his U.S. stock holdings by about $3 billion, or 79%, during the first quarter, regulatory filings show. Vinik's fund, the $2.5-billion Vinik Asset Management, had $817 million in 62 U.S. stocks at the end of March, compared with $3.8 billion in more than 150 domestic equities at the end of 1998, according to Securities and Exchange Commission papers. Vinik sold his stakes in Intel Corp., Microsoft Corp.
BUSINESS
October 27, 2000 | Associated Press
Vinik Asset Management, the $4.2-billion hedge fund headed by Jeffrey Vinik, announced Thursday it would return its investors' money after a four-year run in which their assets grew fivefold. Vinik, 41, who was in the spotlight in the 1990s when he ran Fidelity's mammoth Magellan Fund, said the decision to return the assets was not related to the market's recent ups and downs. "I want to spend more time with my family, and there's no meaning beyond those words whatsoever," Vinik said Thursday.
BUSINESS
August 19, 1999 | Times Staff, Bloomberg News
Jeffrey Vinik and his former employer, Fidelity Investments, may still be going their separate ways--at least when it comes to tech stocks. Vinik, former manager of Fidelity's flagship Magellan Fund, rushed back into the market in the quarter ended June 30, raising the stock investments in his hedge fund by $4 billion and loading up on technology shares in particular, according to regulatory filings released Wednesday. Meanwhile, Fidelity, the biggest U.S. mutual fund company, sold a net $4.
BUSINESS
December 29, 1996 | RUSS WILES, Russ Wiles is a financial writer for the Arizona Republic
Was it the fund or was it the manager? These days it may not be easy to tell. Dozens of visible portfolio managers switched jobs during the year, making it hard for investors to keep track of all the players, sorting out what returns were earned under whose reign. Of the roughly 6,200 stock and bond portfolios in existence, more than 550 had already switched managers by mid-December of this year, according to researcher Morningstar Inc. of Chicago.
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