Fidelity Select Health Care Portfolio
FSPHX
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- Fidelity Select Health Care Portfolio (FSPHX) is an actively managed open-end mutual fund offered by Fidelity Investments that normally invests at least 80% of its assets in securities of companies principally engaged in the design, manufacture, or sale of products or services related to health care or medicine. The fund primarily invests in common stocks of domestic and foreign issuers engaged in pharmaceuticals, biotechnology, medical devices, health care services, and diagnostics; key holdings include Danaher Corp., Penumbra Inc., argenx SE, Alnylam Pharmaceuticals Inc., Masimo Corp., CVS Health Corp., Insulet Corp., and Stryker Corp., representing approximately 46.82% of the portfolio. It employs fundamental analysis of issuers' financial condition, industry position, market trends, and economic conditions to select investments, with a portfolio composition of roughly 98% stocks, 0.3% bonds, and minimal cash or other assets. FSPHX targets large-cap growth stocks within the health care sector, serving individual and institutional investors seeking sector-specific exposure without broad market diversification. The fund operates globally, with approximately 90% U.S. stocks, 8% non-U.S. stocks, and minor allocations to bonds and cash. Fidelity Investments, headquartered in Boston, Massachusetts, launched the fund on July 14, 1981; Edward Yoon serves as the current sector leader and portfolio manager. In recent developments, the fund has navigated challenging market conditions amid macro uncertainty, with portfolio managers noting continued capital deployment by large health care companies into acquisitions and market rewards for breakthrough clinical data as of late 2025. Year-to-date performance through mid-2025 stood at 0.37%, reflecting a -9.60% one-year return, while emphasizing opportunities in innovative therapies and devices. No major structural changes, such as mergers, funding rounds, or name changes, have been reported for the fund in the last 1-2 years; it maintains its no-load share class structure with a 0.69% expense ratio.