Fidelity Select Technology Portfolio FSPTX Fund Analysis

Despite the sudden departure of Fidelity Select Technology’s previous manager, a promising new leader and strong analyst team warrant an Above Average People rating. The stable Process Pillar remains at Average. This strategy is now in the hands of a new manager. On July 15, 2026, Fidelity announced that Adam Benjamin was leaving the firm, and that tech sector lead Priyanshu Bakshi would take over the strategy effective immediately. While such a change deserves scrutiny, several factors inspire cautious optimism. Bakshi's career at the firm began in 2016 as an energy analyst before he moved into international tech holdings, eventually taking over coverage of high-profile names like SK Hynix, Samsung, and TSMC. He became co-sector lead of Fidelity's tech team in January 2021 and took on the sole responsibility for that role in January 2025. That means he’s overseen the team responsible for much of the strategy's recent success and worked closely with Benjamin before his departure. The 22-person tech team remains a standout in the industry, with a track record of strong stock selection and early calls on broader sector trends. Bakshi's deep familiarity with both the analysts and the portfolio should support a smooth transition.