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The two funds appear to have continued using the same managers, as M* reports nearly identical teams (including changes) over the past decade. Until 2017 MDFGX's performance was virtually identical to STSEX's. Since then, STSEX has gone on wild rides (both up and down) but otherwise followed a similar trajectory. I'd guess that its huge (excessive?) bets on single stocks accounts for that.
Both funds are extremely concentrated. However, while 1/3 of STSEX is invested in Microsoft, "only" 10.37% of MDFGX is. The latter fund is not quite as concentrated, and actually turns over stocks once in awhile (21% turnover ratio).
If what you're looking for is a large cap 0% turnover fund, there's LEXCX. It's even more concentrated than STSEX, and like that fund, has BRK.B as its second largest holding (15.68%).
Comments
This fund was formerly a State Street Research fund (not to be confused with SSgA). FWIW, there is a sibling fund, formerly SRLAX, now MDFGX. It was created and managed in the late 90s by STSEX's manager at the time, Pete Woodworth.
https://www.marketwatch.com/story/big-cap-stocks-state-street-manager-looks-for-return-on-capital-1-25-99
The two funds appear to have continued using the same managers, as M* reports nearly identical teams (including changes) over the past decade. Until 2017 MDFGX's performance was virtually identical to STSEX's. Since then, STSEX has gone on wild rides (both up and down) but otherwise followed a similar trajectory. I'd guess that its huge (excessive?) bets on single stocks accounts for that.
Both funds are extremely concentrated. However, while 1/3 of STSEX is invested in Microsoft, "only" 10.37% of MDFGX is. The latter fund is not quite as concentrated, and actually turns over stocks once in awhile (21% turnover ratio).
If what you're looking for is a large cap 0% turnover fund, there's LEXCX. It's even more concentrated than STSEX, and like that fund, has BRK.B as its second largest holding (15.68%).