Fidelity Select Telecommunications Portfolio
FSTCX
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- Fidelity Select Telecommunications Portfolio (FSTCX) 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 the development, manufacture, sale or distribution of communications services or communications equipment; such companies include providers of wireless, wired, satellite, cable, broadcasting, internet, data transmission or other communications services, as well as manufacturers and distributors of communications equipment. The fund normally invests primarily in common stocks, with a portfolio heavily weighted toward U.S. equities (approximately 90%) in the communications services sector (over 93%), including top holdings such as Verizon Communications Inc., AT&T Inc., T-Mobile US Inc., Frontier Communications Parent Inc. and AST SpaceMobile Inc.; it maintains minor allocations to non-U.S. stocks, cash and other sectors like technology. Managed by Fidelity Investments, the fund targets individual and institutional investors seeking sector-specific exposure to the telecommunications industry, with shares available for sale in the United States. Launched on July 29, 1985, the fund is domiciled and headquartered in Boston, Massachusetts, at Fidelity's address of 245 Summer Street. It operates within the Morningstar Communications category, employing a mid-cap value investment style, with no front-end or deferred loads and a minimum initial investment of zero USD. The portfolio features a turnover rate reflective of active management focused on telecommunications sub-sectors like wireless and broadband providers. As of late 2025, the fund continues under the oversight of Fidelity Management & Research Company LLC, with portfolio manager Nicole Abernethy leading the team; no major portfolio manager changes, acquisitions, partnerships, funding rounds, new product launches or strategic reorganizations specific to FSTCX have been reported in the last 1-2 years. Recent performance highlights include a year-to-date return and dividend distributions, such as 0.365 paid on July 11, 2025, amid ongoing sector volatility in telecommunications. Fidelity Investments, the fund's sponsor, maintains its position as a leading U.S. asset manager with no parent-subsidiary alterations impacting this portfolio.