Investment objective & strategy
As of April 24, 2025 · prospectusObjective. Wireless Portfolio seeks capital appreciation.
Strategy. Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies principally engaged in activities relating to wireless communications services or products. These companies may include, for example, companies involved in cellular communications, paging, mobile radio, wireless LANs, microwave transmission, personal communications devices and networks, related software, or other companies with products or services related to wireless communications. For purposes of the fund's policy to normally invest at least 80% of its assets in securities of companies principally engaged in the business activity or activities identified for the fund, Fidelity may consider a company to be principally engaged in the designated business activity or activities based on: (i) the level of a company's assets, … Normally investing primarily in common stocks. Normally investing at least 80% of assets in securities of companies principally engaged in activities relating to wireless communications services or products. These companies may include, for example, companies involved in cellular communications, paging, mobile radio, wireless LANs, microwave transmission, personal communications devices and networks, related software, or other companies with products or services related to wireless communications. For purposes of the fund's policy to normally invest at least 80% of its assets in securities of companies principally engaged in the business activity or activities identified for the fund, Fidelity may consider a company to be principally engaged in the designated business activity or activities based on: (i) the level of a company's assets, income, sales, or profits that are committed to, derived from, or related to the designated business activity or activities, or (ii) whether a third party has given the company an industry or sector classification consistent with the designated business activity or activities. Whether a company is principally engaged in the designated business activity or activities can be determined under any of these factors. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Investing in domestic and foreign issuers. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $45.53M | 14.85% |
| APPLE INC | — | $42.70M | 13.93% |
| T-MOBILE US INC | — | $22.54M | 7.35% |
| AT&T INC | — | $21.16M | 6.90% |
| MOTOROLA SOLUTIONS INC | — | $19.85M | 6.48% |
| VERIZON COMMUNICATIONS INC | — | $17.70M | 5.77% |
| MARVELL TECHNOLOGY INC | — | $14.75M | 4.81% |
| QUALCOMM INC | — | $13.87M | 4.53% |
| Nokia Oyj ADR | NOK | $12.26M | 4.00% |
| AMERICAN TOWER CORP | — | $10.90M | 3.55% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Telecommunications Fund · RYMIX, RYMAX, RYTLX, RYCSX | 41% | 1.39% |
| Telecommunications Fund | 41% | 1.77% |
| Select Telecommunications Portfolio · FSTCX, FTUAX, FTUCX, FTUTX, FTUIX, FIJGX | 34% | 0.64% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of April 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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