Big Fidelity Investor in Wells Fargo Trimmed Position in SeptemberBig Fidelity Investor in Wells Fargo Trimmed Position in September

BOSTON, Oct 31 (Reuters) - Fidelity Contrafund, one of thelargest investors in Wells Fargo & Co, reduced its stakein the scandal-hit bank by 5 percent in September, according tothe fund's latest holdings report.

Run by star portfolio manager Will Danoff, Contrafund had a$2.2 billion stake in Wells Fargo, or about 50.1 million shares,at the end of September, according to a report released onSunday. The fund owned about 52.65 million shares at the end ofAugust.

Wells Fargo is the only bank in a Contrafund top 10 holdingslist dominated by tech companies. The bank's shares dragged onContrafund's third-quarter performance, falling nearly 6 percentamid disclosure Wells Fargo branch staff opened as many as 2million accounts without customers' knowledge.

Contrafund is the third-largest mutual fund investor inWells Fargo, behind two Vanguard Group index funds, according toThomson Reuters data. (Reporting By Tim McLaughlin; Editing by Meredith Mazzilli)