Fidelity Select Telecommunications Portfolio
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- Fidelity Advisor Telecommunications Fund - Class I (FTUIX) is a mutual fund managed by Fidelity Investments that seeks capital appreciation by investing primarily in common stocks of companies engaged in the development, production, manufacture, distribution, or sale of telecommunications services, products, or equipment; companies providing services to those companies; and companies facilitating or benefiting from the development, manufacturing, distribution, sale, exhibition, or servicing of telecommunications equipment and services. The fund normally invests at least 80% of its assets in securities of such companies, including domestic and foreign issuers, and may utilize fundamental analysis focusing on issuers' financial condition and industry position; it also holds major positions in leading telecommunications firms such as Verizon Communications Inc., AT&T Inc., T-Mobile US Inc., Lumen Technologies Inc., Frontier Communications Parent Inc., AST SpaceMobile Inc., Gogo Inc., Iridium Communications Inc., Liberty Latin America Ltd., and Globalstar Inc. The fund targets institutional and high-net-worth investors through its Class I shares, operates within the communications services sector (Morningstar category), and maintains a portfolio with approximately 91% in U.S. stocks and the balance in non-U.S. equities and cash. Inception date for the underlying portfolio traces to July 29, 1985, with the Class I (FTUIX) share class launched December 12, 2006; Fidelity Investments, headquartered in Boston, Massachusetts, serves as the investment manager. Current portfolio managers include Nicole Abernethy (since August 2020) and Alex Boyajian (since August 2025), who oversee the fund alongside related sector strategies such as Fidelity Select Telecommunications Portfolio (FSTCX). Assets under management stand at approximately $233 million, with a net expense ratio around 0.70%, daily pricing, and geographic focus predominantly on the United States supplemented by exposure to regions including the United Kingdom and Latin America. Recent developments include portfolio management continuity amid Fidelity's broader 2025 sector fund rationalization efforts, such as mergers of other Select portfolios (e.g., Fidelity Select Utilities Portfolio into Fidelity Advisor Utilities Fund, Fidelity Select Energy Portfolio into Fidelity Advisor Energy Fund), though FTUIX itself remains independent without announced merger or reorganization as of late 2025. The fund benefited from strategic shifts in holdings like U.S. Cellular's May 2025 wireless operations sale to T-Mobile, reflecting active positioning in consolidation trends within the telecommunications industry. No major funding rounds, new product launches, or name changes affect FTUIX directly in the past 1-2 years, maintaining focus on core telecommunications equity exposure amid evolving 5G, satellite, and broadband opportunities.