The Fund Grade · free · no account needed
What grade does FSELX 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 Select Semiconductors Portfolio
#40 of 500 graded active funds · blend · large segment peer group
The point · specialist footprint
FSELX 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.
FSELX vs the Honor Roll · share card ↗Conviction exposure
62.6%
of the book in specialist-converged names
Late-stage weight
15%
of the book in Crowded or Fading names
Active share
92.7%
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
FSELX earns an A grade, ranking 40 out of 500, with 62.6% specialist ownership placing it in the top 20% of peers. Specialists are building early positions in ALGM, KLAC, and ENTG, which is the most compelling signal here. The catch is that AVGO, at nearly 13% of the fund, is in a Fading stage.
→ Watch the AVGO position closely, specialists are leaving a holding that represents nearly 13% of the fund.
→ Note the early Emerging and Early Conviction signals in ALGM, KLAC, and ENTG as areas where proven specialists are building ahead of consensus.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.