Fidelity Select Materials Portfolio (FMFEX)

The fund chiefly allocates its capital to common equities. A minimum of 80% of its total assets is directed towards companies whose main business activities encompass the manufacturing, mining, processing, or distribution of raw materials and intermediate products. Its holdings may include both domestic and foreign entities. Investment selection is guided by comprehensive fundamental analysis, evaluating each issuer's financial strength, industry competitive position, and the broader economic and market environment. Notably, the fund operates on a non-diversified basis.