Fidelity Select Materials Portfolio Q4 2025 Commentary

TL;DR

Market Review Health care stocks gained 11.47% in the final quarter of 2025, topping all sectors in the broad market S&P 500® index, which returned 2.66% the past three months. The MSCI health care index had a particularly strong advance in - Health care stocks gained 11.47% in the final quarter of 2025, topping all sectors in the broad market S&P 500 index. - Against this backdrop, pharmaceuticals notched the strongest gain among the industry components of the MSCI health care index.