Investment objective & strategy
As of July 26, 2022 · prospectusObjective. The fund seeks long-term growth of capital.
Strategy. Normally investing at least 80% of assets in securities of disruptive finance companies. Fidelity?s disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Companies within the disruptive finance theme include but are not limited to those companies that, in the Adviser?s opinion, are engaged in digital solutions to deliver more cost effective, efficient, and customized financial services such as blockchain enabled financial services, digital payments, data … Normally investing at least 80% of assets in securities of disruptive finance companies. Fidelity?s disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Companies within the disruptive finance theme include but are not limited to those companies that, in the Adviser?s opinion, are engaged in digital solutions to deliver more cost effective, efficient, and customized financial services such as blockchain enabled financial services, digital payments, data processing, internet banks, embedded finance, AI-enabled underwriting and other disruptive lending and insurance business models. In pursuing this investment theme, the fund may invest in companies in any economic sector. Although the fund may invest across economic sectors, the fund concentrates its investments in the finance industries. Normally investing primarily in equity securities. 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 with quantitative portfolio construction. Investing in either "growth" stocks or "value" stocks or both. Investing in securities of domestic and foreign issuers.
Top holdings
As of May 31, 2023 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| VISA INC-CLASS A | — | $2.56M | 6.25% |
| MASTERCARD INC CL A | — | $2.36M | 5.77% |
| EQUIFAX INC | — | $2.34M | 5.71% |
| ARCH CAPITAL GROUP LTD | — | $2.28M | 5.58% |
| BLACKROCK INC | — | $2.04M | 4.98% |
| CAPITAL ONE FINANCIAL CORP | — | $1.91M | 4.66% |
| ADYEN NV | — | $1.84M | 4.50% |
| BRP GROUP INC-A | — | $1.68M | 4.11% |
| DLOCAL LTD/URUGUAY | DLO | $1.56M | 3.80% |
| ARTHUR J GALLAGHAR AND CO | — | $1.55M | 3.78% |
Portfolio moves
Feb 28, 2023 → May 31, 2023How 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. |
|---|---|---|
| Direxion Daily FinTech Bull 2X Shares · FNTC | 18% | 1.07% |
| Frontier MFG Global Plus Fund | 14% | 0.80% |
| Global Franchise Portfolio | 13% | 1.20% |
Footnotes
- Net assets and holdings count as of May 31, 2023, from the fund's N-PORT filing.
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