Fidelity has its own mutual funds that hold stakes in SpaceX. They hold $100 million of SpaceX stake, to be precise. Together with Google, they hold 10% of Elon Musk’s rocket company. But this begs the question: what Fidelity funds hold SpaceX?
There are five Fidelity funds that show SpaceX holdings. All these funds are growth-oriented with each having roughly 0.04 percent of its assets in SpaceX. These are Contrafund, Fidelity OTC, Fidelity Advisor New Insights, Fidelity Blue Chip Growth, and Fidelity Growth Co.
In this article, we will discuss the five fidelity funds that hold a stake in SpaceX.
Fidelity Contrafund (FCNTX)
As a growth and value stock fund, Fidelity Contrafund focuses on capital gains rather than income. According to Fidelity, it is the largest independently managed equity mutual fund in the world.
Statistics as of April 2021 show that the fund has total assets of $131.82 billion invested across 393 different securities. Almost $44 million of its assets are invested in SpaceX.
The S&P benchmark for Contrafund is 500, but its sector weightings could differ. The fund gives more credence to growth sectors, with restrictions to lagging industries like energy, utilities, and telecom.
The fund has accumulated 57.35% in the previous year, 18.82 in the past three years, 19.14 in the past five years, and 15.12 percent over a decade.
Based on the evaluation done for 1229 Large Growth Funds, Contrafund was listed as number 169 in Large Growth on the list of top-rated funds for long-term investors.
Fidelity OTC Portfolio Fund
This fund falls under Morningstar’s large growth category. Usually, it invests more than 80% of its portfolio in stocks available for trading on the Nasdaq composite index and other over-the-counter markets. More than 25 percent of the fund is allocated to the technology sector.
From the findings of April 2021, the fund has total assets of at least $26.99 billion invested in 179 varying holdings. Almost $5 million of their assets is invested in SpaceX.
The fund’s expense ratio is 0.81. It is considered to be below average by MorningStar. The fund demands an initial investment of $2,500.
The fund’s risk and level of return are high for the trailing three, five, and ten-year periods compared to its peers. It has returned 75.57% in the past year, 25.69% and 26.21% over the past three and five years respectively. For the past decade, it has made a return of 18.78%.
Fidelity OTC portfolio is listed as number 13 in large growth on the evaluation of 1229 Large growth funds on the list of top-rated funds for long-term investors.
Fidelity Advisor New Insights Fund
Fidelity Advisor New Insights fund falls under the large-cap category. The fund has total assets of almost $24.15 billion invested in 452 different securities. About $11 million of these assets is invested in SpaceX.
The fund’s largest holding is the Information Holding sector. The fund has attracted a 54.37% return in the previous year and 15.24% in the past three years.
Fidelity Advisor New Insights Fund was listed as the number 215 in large growth out of 1229 Large growth funds on the list of top-rated funds for long-term investors.
Fidelity Blue Chip Growth Fund
Fidelity Blue Chip Growth Fund pays attention to long-term capital growth. 80%of this fund’s asset is invested in blue-chip stocks.
Blue-chip companies are companies that are well known or established. These stocks are targeted to bring returns that are above average over a long period.
In addition to the dividends, the potential for growth, and stability that these stocks produce, the return is less volatile. The fund had a return of 93.83% in the previous year, 29.86% in the past three years, 26.73% and 19.2% over the past five and ten years respectively.
Two thirds of these fund holdings are invested in technology and consumer cyclical sectors. The fund has total assets of $50.73 billion invested in 546 varying holdings. About $7 billion is invested in SpaceX.
Fidelity blue-chip Growth Fund is listed number 11 in larger growth out of 1229 Large growth funds on the list of top-rated funds for long-term investors.
Fidelity Growth Company Fund
Fidelity Growth Company Fund is an appreciably solid fund that operates within a different category which is the large-cap growth. Even though there was a lag on the S&P 500 for the past ten years, its returns have remained in the top quartile of the large-cap growth category a good number of times.
Fidelity Growth Company fund has total assets of $60.60 billion in 566 different securities. Almost $17 million of its total assets are invested in SpaceX. Fidelity Growth Company Fund’s portfolio covers mostly U.S large-cap stocks.
The fund earned much of the ground it lost, and at the beginning of October 2010, its year-to-date went above 7%. Its enviable positions in Apple and Salesforce.com stocks which have grown more than 30% year to date made it stand out. Over the previous year, the fund has returned 94.64% and 29.16% in the past three years.
Fidelity Growth Company Fund focuses on high-growth stocks with special interest in the healthcare and technology sector. As a result of its focus on high growth, the fund performs better than its peers in bull markets than in bear ones. Over the past five and ten years, the fund has returned 28.32 and 19.92 percent respectively.
On the list of the top-rated funds for long-term investors, Fidelity Growth Company fund is listed as number 35 in a large growth in the evaluation of 1229 other large growth funds.
Fidelity Growth Company fund pays attention to capital appreciation by investing in high growth stocks, with low valuations as a secondary consideration.
Though it is rare for public mutual funds to invest in privately held companies, Fidelity has joined the train of other funds to make this common since companies stay private longer and big fund groups have a harder time getting a large allocation of stock in initial public offerings.
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Till next time…
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