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    Jen Wieczner 2019年04月24日




    富達投資對Pinterest的持股比例為7.1%,接近持股9.6%的硅谷著名風投公司安德森-霍洛維茨,同時高于Valiant 6%的股權占比。Valiant是Pinterest的對沖基金出資人之一。富達投資所持股份目前的總價值超過7.87億美元,其中大多數都在Fidelity Contrafund手中,這是一只提供401(k)退休計劃的熱門共同基金。

    實際上,規模龐大的Fidelity Contrafund管理著1193億美元的資產,投入Pinterest的還不到0.5%。但相比之下,投入Pinterest的資金已經超過了該基金對推特、可口可樂和迪士尼等公司的投資。

    雖然按照IPO計算的價值僅略高于最近一輪私募融資對Pinterest的估值,但富達投資仍然通過后者上市大賺了一筆。舉例來說,向證券監管部門提交的文件顯示,自從2013年年底開始購買Pinterest股票以來,Fidelity Contrafund對前者的投資回報率已經達到152%。

    富達投資的其他幾只基金也少量持股Pinterest,包括Fidelity OTC Portfolio、Fidelity Advisor New Insights Fund和Fidelity Series Opportunistic Insights Fund。


    富達投資是近年來在初創公司投資方面變得更為活躍的幾家共同基金公司之一。這些投入現在開始給基金投資人帶來回報。以Fidelity Contrafund為例,從今年年初到上周三,也就是不包括Pinterest上市當天的飆升,這只基金已經上漲近17%,表現好于標普500指數。對于在富達投資建立了401(k)賬戶的人來說,從中分一杯羹的可能性很大。(財富中文網)



    You didn’t necessarily need to buy stock in the Pinterest IPO to make money off the public market debut of the online scrapbooking company.

    It’s often difficult for regular investors to get in on the ground floor of hot startups like Pinterest—whose stock rose more than 28% from its initial public offering price of $19, to $24.4 on its first day trading last Thursday—as venture capitalists and hedge funds typically dominate private funding rounds. Yet the Pinterest IPO is an exception: One of the social media company’s largest shareholders is Fidelity, which owns Pinterest stock on behalf of many retirement savers, whether they know it or not.

    Fidelity owns 7.1% of Pinterest, nearly as much as the 9.6% stake held by Andreessen Horowitz, the famed Silicon Valley VC firm, and more than the 6% owned by Valiant, one of Pinterest’s hedge fund backers. Most of Fidelity’s shares, which are now worth more than $787 million in total, are held in the Fidelity Contrafund, a mutual fund that is a popular offering in 401(k) retirement plans.

    Indeed, the massive Contrafund oversees $119.3 billion in assets, of which just under half of 1% is invested in Pinterest. To put that in perspective, the fund has bet more money on Pinterest than it has on other holdings such as Twitter, Coca-Cola and Disney.

    And although the IPO values Pinterest just modestly above its valuation in its most recent private funding round, Fidelity still reaped a hefty profit from the public listing. Contrafund, for example, has made a 152% return on its Pinterest investment since it began buying the shares in late 2013, according to securities filings.

    A few other Fidelity funds also own smaller amounts of Pinterest stock, including the Fidelity OTC Portfolio, the Fidelity Advisor New Insights fund, and the Fidelity Series Opportunistic Insights fund.

    And Pinterest isn’t the only tech IPO the funds are benefiting from this year. Fidelity funds, including all the ones mentioned here, owned shares in Lyft before the ride-hailing company went public in March; their stakes are now worth more than $1 billion combined. They also hold stock in Uber, Lyft’s larger rival that just filed for its own IPO in the coming months, as well as other highly valued private companies such as WeWork and Airbnb.

    Fidelity is one of a handful of mutual fund companies that have become more active in startup investing in recent years. Those bets are now beginning to pay off for fund investors: Contrafund, for one, was up nearly 17% year to date through last Wednesday—not counting Pinterest’s soaring first day—ahead of the S&P 500’s gain. For those who have a 401(k) plan with Fidelity, there’s a good chance you got a piece of the action too.