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10 Top-Performing Mutual Funds of 2010

6. FIDELITY INDEPENDENCE FUND (FDFFX)

Return: 17.8%.

Assets: $4.1 billion

Manager: Robert Bertelson, since November 2006

Top stocks: Apple (AAPL - Get Report) , 5.1%, Delta Airlines (DAL), 3.5%, Google (GOOG - Get Report), 3.4%

Big winner: Bayerishche Motoren Werke, the German automaker, comprises 1.2% of fund and has doubled this year.

Strategy: The diverse portfolio has 120 stocks, and the top 10 make up 27% of the portfolio. Industrial materials is the largest sector bet, at 20%, followed by computer hardware, at 16%. Portfolio turnover is high at 173%. Performance has been volatile as it lost 48% in 2008, then rebounded in 2009 with 40%. It has won big on its fourth-largest holding, at 2.8% of the fund, airline United Continental (UAL), up 115% this year. After that, most stocks in the top 25 are less than 2% allocations, indicating lots of small bets.

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SYM TRADE IT LAST %CHG
ABX $12.00 2.60%
AAPL $131.86 -0.14%
BIDU $200.32 -0.56%
CRM $72.71 -1.70%
GOOG $539.63 -0.03%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

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