Fidelity Select Industrials Portfolio Q1 2025 Commentary
Source: SeekingAlpha
2025-05-07 04:00:00 ET
Summary
- Fidelity Select Industrials Portfolio is a sector-based equity-focused strategy that seeks to outperform its benchmark through active management.
- Within the S&P 500, industrials ended with the eighth-best result for the quarter among the 11 market sectors.
- For the first quarter, the fund returned -2.87%, trailing the fund's sector benchmark, the MSCI U.S. IMI Industrials 25/50 Index, but topping the S&P 500.
Investment Approach
- Fidelity® Select Industrials Portfolio is a sector-based equity-focused strategy that seeks to outperform its benchmark through active management.
- We believe that uncertainty provides investment opportunity. Stock prices can become disengaged from a company's intrinsic (fair) value at cyclical extremes because of investor overreaction.
- Cyclical stocks exhibit repeatable patterns. We believe this can present opportunities for a disciplined investor whose time horizon spans the next cycle.
- We strive to capitalize on these opportunities through intensive, academic-style research on cyclical drivers and company-specific fundamentals, along with disciplined portfolio construction. The fund's success is predicated on finding the right mix of undervalued cyclicals and more-consistent earnings growers throughout the cycle.
- Sector strategies could be used by investors as alternatives to individual stocks for either tactical- or strategic-allocation purposes.
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Fidelity Select Industrials Portfolio Q1 2025 Commentary
Fidelity MSCI Materials Index
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