Fidelity Select Communication Services Portfolio is a sector-focused mutual fund that seeks capital appreciation by investing primarily in companies engaged in the development, production, or distribution of communication services. The strategy typically allocates at least 80% of assets to equities across the communication services ecosystem, spanning social media platforms, internet search and digital advertising, streaming media, cable and wireless providers, gaming, and related enabling technologies. The portfolio is actively managed and benchmarked to the MSCI U.S. IMI Communication Services 25/50 (Media Linked) Index to align with the sector’s modern composition following the GICS reclassification, emphasizing large, innovation-driven franchises alongside select mid- and small-cap names. Holdings have recently concentrated in leading global platforms and content distributors, reflecting the sector’s revenue models tied to advertising, subscription, and network services. The fund’s market role is to provide targeted exposure to the communication services sector within a diversified allocation, offering investors a focused way to capture structural trends in digital engagement, media consumption, and connectivity infrastructure under Fidelity’s active research framework.
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