The Fund Grade · free · no account needed
What grade does FELCX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
Fidelity Advisor Semiconductors Fund Class C
#38 of 500 graded active funds · blend · large segment peer group
The point · specialist footprint
FELCX puts more of its book behind proven specialists than 94% of graded funds.
Bottom 20%
Bottom 40%
Middle
Top 40%
● Top 20%
That has mattered: over the past 2.7 years, funds on this rung beat bottom-rung funds by about 3.8% per quarter, and beat the S&P in 43% of fund-quarters versus their 22%. The evidence argues this fund earns its seat.
10,000+ funds tracked · the graded specialists among them drive every read
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
FELCX vs the Honor Roll · share card ↗Conviction exposure
62.7%
of the book in specialist-converged names
Late-stage weight
14.6%
of the book in Crowded or Fading names
Active share
92%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
FELCX earns an A grade and ranks 38 of 500, with 62.7% specialist ownership signaling strong conviction from proven money. Specialists are building early positions in Allegro MicroSystems, KLA Corp, and Entegris, which is where the real story is. The 12.6% weight in Broadcom is worth watching, as specialists there are fading.
→ Watch the Broadcom position closely, specialists are leaving a holding that makes up 12.6% of the fund.
→ Note early specialist building in Allegro MicroSystems and KLA Corp as evidence the fund is genuinely ahead of consensus.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.