Fidelity Slashes Stakes in Petrochina, Sinopec

Fidelity slashed its stake in PetroChina (PTR Quote) and Sinopec (SHI Quote) amid calls for the Boston mutual fund giant to divest its holdings in companies linked to Sudan.

According to documents filed with the Securities and Exchange Commission on Tuesday, Fidelity held 420,916 ADRs in Petrochina as of March 31. That was down 91% from 4,499,975 shares at the end of December.

The filing also indicates Fidelity had cut its stake in Sinopec ADRs to zero and the end of March from 42,000 at the end of December.

Fidelity declined to say whether it cut its holdings in response to pressure from human rights groups. A spokesman said the company's individual fund managers make their own investment decisions. ...