By: Austin Smith
Fidelity Contrafund’s contrarian pitch runs into a $157.8 billion problem: the fund is so big that its bets against the crowd often are the crowd. Fidelity Contrafund (NASDAQ:FCNTX) is an actively managed large-cap growth mutual fund whose 428 positions mix mega-cap tech, a few defensive value names, and a rare slate of private-market stakes. As ... Fidelity’s Contrafund, FCNTX, Bet Against the Crowd and Got Enormous Doing It