Quite a few big institutional money managers have taken an interest in the sector we call “genome technology.” Take a look at who invests in the companies we list in the Genome Technology Index. (But bear in mind that there are lags in reporting holdings as well as in printing this magazine, so when you read this plenty could have changed.)
At least 18 managers have GTI holdings in excess of $100 million. (A few more had been above that threshold prior to November’s downdraft.) The biggest is Fidelity, with index holdings of $1.9 billion. A good chunk of Fidelity’s slice is represented by 13 million shares of Applied Biosystems. Second biggest holder in the sector is Putnam, where 16 million shares of ABI contribute to a portfolio worth more than $1.4 billion.
For breadth of GTI holdings the award goes to another biggie, Vanguard, with 11 of our 33 index companies in a portfolio worth $290 million. Runner-up honors go to Boston’s Essex Investment Management, with its portfolio of 10 index companies representing $500 million of its total holdings of $13 billion. Major positions at Essex include ABI, Celera, Invitrogen, Packard, and Aurora.
Applied Biosystems is a core holding in the 10 biggest portfolios. But Baltimore’s T. Rowe Price has the biggest GTI portfolio that doesn’t include ABI. Price’s index holdings total $200 million, with large positions in Affymetrix, Incyte, and Aurora. Another big manager who copes without ABI is Pilgram Baxter of Wayne, Pa., with GTI holdings totaling $180 million and big positions in Invitrogen, Incyte, and Molecular Devices.