Fidelity OTC K
FOCKX
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ROIC.AI
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- Fidelity OTC Portfolio Class K (FOCKX) is an open-end mutual fund managed by Fidelity Management & Research Company LLC that seeks capital appreciation by investing primarily in common stocks of domestic and foreign issuers. The fund normally invests at least 80% of its assets in securities principally traded on the NASDAQ Stock Market or over-the-counter markets, with more than 25% allocated to the technology sector; it focuses on large-cap growth stocks including leading holdings such as NVIDIA Corp, Apple Inc, Microsoft Corp, Alphabet Inc and Amazon.com Inc. It is available to institutional and retirement plan investors in the United States, with no minimum initial investment, a net expense ratio of 0.61% to 0.65%, and total net assets exceeding $9 billion as of recent reports. The fund, part of Fidelity Investments' broad lineup of equity products, employs a growth-oriented strategy emphasizing high-growth companies in technology, communications, consumer cyclical and healthcare sectors, categorized by Morningstar as Large Growth. Portfolio management is led by Christopher Lin since September 2017, supported by a team with extensive Fidelity tenure. Geographically, it primarily targets U.S. equities (approximately 89.5% allocation) with minor non-U.S. stock exposure (7%), operating from Fidelity's headquarters in Boston, Massachusetts, where the broader Fidelity OTC Portfolio (including share classes like FOCPX) was originally established in 1984, though Class K shares launched around 2008. Recent performance highlights include strong returns, with 1-year total return around 24.43%, 3-year annualized at 28.93%, and 10-year at approximately 17.66%, ranking in the top decile of its peer group; YTD through mid-2025 showed solid gains amid market volatility. No major acquisitions, mergers, or strategic shifts have been reported in the last 1-2 years, with ongoing focus on contractual expense caps and portfolio turnover around 55%; the fund maintained its investment policies amid 2025 market conditions, including quarterly distributions and estimated capital gains payouts scheduled for late December 2025.