Fidelity Select Retailing Portfolio (FSRPX) is an actively managed, non-diversified open-end mutual fund that seeks capital appreciation by investing at least 80% of its assets in common stocks and securities of companies principally engaged in merchandising finished goods and services to consumers, including retailers, distributor-retailers and consumer services providers. The fund primarily targets large-cap blend stocks in the consumer cyclical sector, with key holdings such as Amazon.com Inc. (25.22%), Costco Wholesale Corp. (7.60%), Lowe's Companies Inc. (6.21%), Walmart Inc. (5.08%), and TJX Companies Inc. (4.35%), representing 48.46% of the portfolio; it allocates 93.56% to U.S. stocks, 6.44% to non-U.S. stocks, and emphasizes consumer cyclical (76.70%) and consumer defensive (23.30%) sectors. Launched on December 16, 1985, and domiciled in the United States, the fund is available for sale in the U.S. with total net assets of $2.70 billion, a net expense ratio of 0.66%, and no front-end or deferred loads.
Managed by Julia Pei since February 7, 2025, the portfolio operates within Fidelity Investments' suite of sector-specific equity funds. It focuses on companies serving consumer markets across retailing channels, including e-commerce, wholesale clubs, home improvement, discount stores, and off-price apparel retailers. Geographically, the fund concentrates on U.S.-based issuers while holding minor positions in Latin America (4.11%), Canada (1.49%), and the Eurozone (0.84%).
Recent leadership changes include the appointment of Julia Pei as portfolio manager on February 7, 2025, marking a transition in oversight of the fund's strategy amid its positioning in the competitive consumer cyclical category. The fund maintains its non-diversified approach, allowing concentrated investments in individual retailing issuers, with assets under management reaching approximately $2.73 billion as of late 2025. No major acquisitions, partnerships, funding rounds, or product launches have been reported for the fund in the last 1-2 years, reflecting stable operations within Fidelity's broader mutual fund offerings.