Fidelity Advisor Biotechnology Fund
FBTTX
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- Fidelity Advisor Biotechnology Fund (Class M) (FBTTX) is an open-end mutual fund that seeks capital appreciation by investing primarily in common stocks of companies engaged in biotechnology research, development, manufacture, and distribution of products, services, and processes; the fund normally invests at least 80% of assets in such securities, with a focus on the healthcare sector including pharmaceuticals, therapeutics, gene therapies, and autoimmune treatments. It offers multiple share classes including Class M (with a 3.50% front-end load and 1.21% net expense ratio), Class A, Class C, Class I, and Class Z, targeting individual and institutional investors seeking exposure to the biotechnology industry. The fund maintains a mid-cap blend investment style, with approximately 85.71% in U.S. stocks, 11.23% in non-U.S. stocks (primarily Europe and Canada), and top sectors dominated by healthcare at 96.91%; key holdings as of recent data include AbbVie Inc. (19.09%), Gilead Sciences Inc. (8.17%), Alnylam Pharmaceuticals Inc. (7.68%), Ascendis Pharma A/S (5.44%), and argenx SE (4.68%), managed actively by Eirene Kontopoulos since July 15, 2018. Launched on December 27, 2000 and domiciled in the United States, the fund is managed by Fidelity Investments, headquartered at 245 Summer Street, Boston, Massachusetts. Geographically, it operates primarily in U.S. markets with international diversification, and total net assets stand at approximately $1.40 billion, with the Class M share class at $107.27 million. In recent years, the fund has seen continuity in its biotechnology focus amid Fidelity's broader series of equity fund mergers to consolidate similar offerings and reduce expenses, though FBTTX itself has not undergone a merger; portfolio positioning has emphasized novel assets like antibody-drug conjugates and cell therapies from emerging markets such as China, alongside overweight positions in select large-cap names like AbbVie despite benchmark underweights.