Activision Blizzard, Inc. (NASDAQ: ATVI) is the largest interactive gaming company in the world and is the result of the merger of Blizzard Entertainment and Activision Publishing. The company is segmented into media, technology and entertainment verticals, and the business is centered around a robust portfolio of video game titles. The company owns "Overwatch," "Call of Duty" and "World of Warcraft," among other franchises.

In June 2017, Activision Blizzard joined the Fortune 500 as only the third video game company to do so, after Atari and Electronic Arts. Most recently, Activision Blizzard has been betting big on e-sports, hoping that it's popular competitive games like "Overwatch" and "Heroes of the Storm" will lead them into the future. 

1. Fidelity Contrafund

As a growth fund, the Fidelity Contrafund (FCNTX) is focused on generating capital gains as opposed to income. Manager Will Danoff and his team  choose stocks of companies with a market value of over $10 billion. FCNTX is the biggest fund investor in Activision Blizzard, with 34.7 million held shares, nearly 4.6% of all of ATVI's stock. As of October, 2017, FCNTX is reported to have assets of around $124 billion, dedicating 1.85% of those assets to Activision Blizzard. The three-year annualized returns for the fund as of December 5, 2017 is 12.26%.

2. Vanguard Total Stock Mkt Idx Inv (VTSMX)

The Vanguard Total Stock Mkt Idx Inv (VTSMX) was created in 1992 as a way for investors to gain exposure to the entire U.S. stock market, including small-, medium- and large-cap stocks. The fund's most attractive attributes are its low fees and high diversification.

Activision Blizzard represents a smaller overall position in this fund than it does in the Fidelity Contrafund Portfolio. The company is not part of the fund's top 10 positions. The fund currently holds over 17 million shares of Activision Blizzard. The fund has total assets over $657 billion, which makes its holdings of Activision Blizzard less than 1% of the total fund. The three-year annualized returns for the fund as of December 5, 2017 is 10.40%.

3.Vanguard 500 Index Inv (VFINX)

The Vanguard 500 Index Inv (VFINX) is the oldest Vanguard fund available for personal investors. The fund offers a low-cost way to access diversified exposure to the U.S. stock market. The fund is made up of the 500 largest American companies. These 500 companies make up over 75% of the total U.S. equity market.

The fund owns over 12.5 million shares of Activision Blizzard. With over $383 billion in fund assets, Activision Blizzard makes up a very small position in the overall fund, given that it is made up of most of the U.S. equity market. The three-year annualized returns for the fund as of December 5, 2017 is 10.56%.

4. Fidelity OTC Portfolio (FOCPX)

The investment goal of the Fidelity OTC Portfolio (FOCPX) is capital appreciation. The fund typically invests at least 80% of its assets in equities traded on the Nasdaq or over-the-counter (OTC) markets. This means that the Fidelity OTC Portfolio predominantly invests in small- and medium-sized companies, with a few blue-chip exceptions. Activision Blizzard accounts for the third-largest position in the Fidelity OTC Portfolio. The fund owns over 12.4 million shares of Activision Blizzard, representing over 1.6% of all shares outstanding. Nearly, 4.7% of FOCPX's $17.4 billion assets are dedicated to Activision Blizzard. The three-year annualized returns for the fund as of December 5, 2017 is 15.94%.

5. Fidelity Growth Company  (FDGRX)

The Fidelity Growth Company (FDGRX) also seeks capital appreciation as its investment goal. This fund invests in domestic and international stocks that have the potential for abnormal returns and large gains.

This fund owns over 8.5 million shares of Activision Blizzard. The fund has over $41.7 billion in total assets, meaning Activision Blizzard's percentage portfolio weight of 1.35% is fairly small. The three-year annualized returns for the fund as of December 5, 2017 is 15.15%.

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