Fidelity has become one of the most active investors in privately-held startups, but it looks like the investment giant is beginning to reconsider the prices it paid just earlier this year. Fortune has obtained a list of the mark downs for the private holdings in Fidelity Blue Chip Growth Fund, including Snapchat's 25% third quarter loss.
Overall, the Blue Chip Growth Fund is carrying its privately-held companies above cost — thanks in large part to appreciation in shares of Uber and The Honest Company (both of which were static between July and September). But of the 23 companies we examined , more than one-third were marked down between July and September (not including five portfolio additions during the period). Only a small handful were marked up, while the rest remained static.