UPDATE 1-Fidelity Contrafund avoids Big Oil, adds to Tesla stake
April 16, 2014 at 17:36 PM EDT
BOSTON, April 16 (Reuters) - Fidelity Investments' $109 billion Contrafund continues to avoid big oil companies, but added to its position in electric car maker Tesla Motors Inc in the first quarter as portfolio manager Will Danoff cut exposure to biotech stocks ahead of the recent sell-off in that sector.