Fidelity Stock Selector Mid Cap Fund Q1 2026 Commentary
For the first quarter of 2026, the Fidelity Stock Selector Mid Cap Fund's Retail Class shares returned 4.21%, outperforming the S&P MidCap 400 Index, which rose 2.50%. The fund's outperformance was driven by an overweight position in XPO, which surged 43% due to favorable market conditions. Conversely, underweight positions in financials and a notable underweight in Lumentum Holdings, which gained 92%, weighed on relative results.
- ▪Fidelity Stock Selector Mid Cap Fund's Retail Class shares gained 4.21% in Q1 2026.
- ▪The fund outperformed the S&P MidCap 400 Index, which advanced 2.50% during the same period.
- ▪An overweight position in XPO, which rose 43%, was the top contributor to the fund's performance.
- ▪An underweight in Lumentum Holdings, which increased 92%, was the largest detractor from relative returns.
- ▪Investment decisions in the financial sector modestly hurt the fund's overall relative performance.
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