Fidelity's Top Holdings Reveal Bullish Surprises

If the favorite stocks of Fidelity -- the nation's largest mutual fund company -- are any barometer, it's not bargain-hunting time in the markets.

A list of the Boston behemoth's top holdings is chock full of pricey, fast-growing companies and is light on value stocks -- those companies that typically have slower earnings growth and more modest price tags.

The quarterly list shows that Fidelity's top holdings as of June 30 are Cisco (CSCO Quote), Intel (INTC Quote) and General Electric (GE Quote). Fidelity is the largest institutional shareholder in Cisco and Intel, and the third-largest in GE. ...