It would appear that Fidelity Magellan -- which was once the biggest mutual fund by holdings back in the 1990s -- is on a rebound under new management, according to Ross Kerber of the Boston Globe ("Magellan rebounding after change of manager").

The reason cited by Kerber is that manager Harry Lange "piled into" foreign and tech stocks since taking over in October. Specific stock information is not forthcoming, but there's a rough breakdown of holdings by sector:

Most notably, [Lange] is credited with increasing its foreign holdings, which were just 2 percent of Magellan's stocks in September, according to Morningstar. As of Nov. 30 the figure had risen to 20 percent, including 7 percent in Japan.

Lange also has changed some of Magellan's domestic stakes dramatically. Information-technology stocks were 21 percent of the portfolio at the end of October, but 28 percent as of Nov. 30. Internet-search company Google is one stock that's drawn a lot of attention from Fidelity; securities filings show that Fidelity has become the largest institutional shareholder of the search company.

Healthcare and materials-companies holdings are also up as a percentage of Magellan's holdings. Meanwhile Lange has cut the fund's stake drastically in 'consumer staples,' such as drugstores, beer companies, and soft drink makers.