Fidelity Advisor Semiconductors Fund
FELTX
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- Fidelity Advisor Semiconductors Fund (Class M) (FELTX) is a sector-specific mutual fund managed by Fidelity Investments that seeks capital appreciation by investing primarily in common stocks of companies principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment. The fund normally invests at least 80% of its assets in such securities of domestic and foreign issuers, employing fundamental analysis of issuers' financial condition, industry position, and broader market and economic conditions; it is classified in the Morningstar Technology category and maintains a non-diversified portfolio with approximately 52 holdings, including major positions in NVIDIA Corp., Broadcom Inc., Marvell Technology Inc., Micron Technology Inc., Monolithic Power Systems Inc., NXP Semiconductors NV, and Lam Research Corp. Products and services consist of actively managed equity exposure to the semiconductors subsector, with a portfolio turnover rate of around 30%; the fund targets institutional and retail investors seeking concentrated technology sector growth, operating globally with primary emphasis on U.S.-listed securities but including international issuers. Launched with an inception date of December 27, 2000, the fund is headquartered in Boston, Massachusetts, as part of Fidelity Investments' broader mutual fund complex, which oversees total assets under management for FELTX of approximately $3.3 billion. Key portfolio managers include Adam Benjamin, who has co-managed the Semiconductors Portfolio since March 2020, supported by Fidelity's sector research team. In recent developments, the fund has maintained its core strategy amid robust semiconductor industry demand driven by artificial intelligence and computing advancements, with no major structural changes such as mergers, acquisitions, funding rounds, or new product launches reported in the last 1-2 years; portfolio composition reflects ongoing evolution in holdings to capture leaders in chip design, memory, and equipment manufacturing. The net expense ratio stands at 1.20%, including a 0.50% 12b-1 fee and up to a 3.50% front-end sales charge, positioning it for investors focused on high-growth technology segments.