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"We
held steady our investment in Chipotle, a longtime holding,
deciding to hang in there, based in part on management's focus
on productivity and comparable-restaurant sales," Contrafund
portfolio manager Will Danoff said in his most recent commentary
for investors. His fourth-quarter update was released this week.
Danoff is one of the mutual fund industry's most influential
investors, running a portfolio with $110 billion in assets. His
fund held a 6.29 percent stake in Chipotle, as of November 30.
Chipotle was the largest detractor to Danoff's performance in
the fourth quarter, when its shares lost about one-third of
their value because of the outbreak.
Last month, Chipotle said it may never pinpoint what caused an
E. coli outbreak linked to two restaurants in Kansas and
Oklahoma, extending a mystery over dozens of illnesses tied to
the burrito chain.
(Reporting By Tim McLaughlin)
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