End of an Era: Will Danoff's Retirement Signals Change at Fidelity Contrafund

Renowned fund manager Will Danoff is set to retire as the lead manager of Fidelity Contrafund at the end of 2026 after a remarkable 35-year career. He will pass the reins to co-managers Jason Weiner and Asher Anolic, preserving his advisory role at Fidelity. Danoff's tenure is marked by exceptional returns and influential stock-picking strategies.

Renowned fund manager Will Danoff, who has been instrumental in securing college educations and retirements for millions of Americans, is set to retire as the lead manager of the Fidelity Contrafund at the end of 2026. The Boston-based company announced his retirement on Tuesday.

Danoff, aged 65, has managed the $176.3 billion fund since 1990, with investors enjoying a cumulative return of 10,423%, more than double the S&P 500 index's return in the same period. Under his leadership, the Contrafund emerged as one of Fidelity's largest and most successful mutual funds, with assets peaking at over $360 billion.

While Danoff will step down, he will remain with Fidelity as an advisor, marking the end of an era of star solo managers. The transition will usher in co-managers Jason Weiner and Asher Anolic, who have embraced the Contrafund investment approach. Danoff's understated presence on and off Wall Street and his philanthropic efforts stand testament to his impactful career.