Fidelity Select Brokerage & Investment Mgt Pt.
FSLBX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Fidelity Select Portfolios MA United States of America
- IPO Date
- Jul 29, 1985
- CIK
- 0000320351
- Website
- fundresearch.fidelity.com
- Similar Companies
- Business
- Fidelity Select Brokerage & Investment Management Portfolio (FSLBX) is an open-end mutual fund that seeks capital appreciation by investing at least 80% of its assets in securities of companies principally engaged in stock brokerage, commodity brokerage, investment banking, tax-advantaged investment or investment sales, investment management, related investment advisory services, and financial decision support services; it primarily holds common stocks of domestic and foreign issuers and is non-diversified. The fund, with total net assets of approximately $1.5 billion as of recent data, features a net expense ratio of 0.69%, daily pricing, and no front-end or deferred loads, targeting investors seeking exposure to the financial sector, particularly brokerage and asset management firms. Launched on July 29, 1985, and managed by Fidelity Management & Research Company LLC, a subsidiary of Fidelity Investments headquartered at 245 Summer Street, Boston, Massachusetts, the portfolio operates primarily in the United States market with minor non-U.S. stock holdings comprising about 2.37% of assets. The fund's investment approach emphasizes active management of high-quality financial stocks across subsectors such as diversified financial services, investment banking and brokerage, and asset management, balancing exposures to interest rate-sensitive companies, market volatility beneficiaries, and economic cycle performers; it maintains a portfolio turnover rate of around 16% and holds approximately 41 securities. Key characteristics include a mid-cap growth style tilt within the Morningstar Financial category, with top holdings typically concentrated in leading brokerage and investment firms like Charles Schwab and others in the sector. Nadim Rabaia serves as the lead portfolio manager since June 15, 2023, succeeding prior management and contributing to recent positioning adjustments, including increased stakes in firms such as Apollo Global Management and new investments in Charles Schwab, BGC Group, and Robinhood Markets amid evolving market dynamics. Under his tenure, the fund has demonstrated strong performance metrics, including a 5-year alpha of 3.45 and beta of 1.25 relative to the S&P 500, reflecting skilled security selection in the financial sector. No major acquisitions, funding rounds, or structural reorganizations have been reported for the fund itself in the last 1-2 years, though parent Fidelity Investments has pursued broader expansions such as new ETF launches, digital asset offerings for IRAs, and model portfolio enhancements in 2025, indirectly supporting the ecosystem for FSLBX holdings.