Fidelity Select Medical Delivery Portfolio
At least as far as holdings go, consider Fidelity Select Medical Delivery Portfolio (MUTF:FSHCX) to be life outside the fast lane.
FSHCX invests in more grounded businesses, such as health insurance providers, pharmacy benefit managers and hospital management. However, the 50-stock fund does stand out as top-heavy. More than 40% of its weight is held in the top three stocks — health benefits firms UnitedHealth Group and WellPoint (NYSE:WLP), and PHM Express Scripts (NASDAQ:ESRX) — while 72% of the fund’s assets are held in the top 10.
Fees are a low 0.84%, and minimum investment is a reasonable $2,500. The one red flag, however, is that FSHCX is under new management as of this month. That’s not to suggest the fund is doomed — new manager Steven Bullock also has run the Fidelity Select Industrial Equipment Portfolio (MUTF:FSCGX) since 2010 — but it does mean you should monitor Medical Delivery to see if Bullock took notes from the guy who helped oversee 20% gains since 2009.