The Investment Research Update features Fidelity’s data-driven views of the markets, equity sectors, and other investment building blocks like factors and thematic strategies. Fidelity’s thought leaders will share insights into trends in the marketplace and discuss what historical probabilities may suggest about the market outlook across different investment disciplines. Our presenters will share potential ideas on how this information could impact your investments in this evolution of the Quarterly Sector Update.
Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal.
Past performance is no guarantee of future results.
Investing involves risk, including risk of loss
Because of their narrow focus, sector investments tend to be more volatile than investments that diversify across many sectors and companies.
This information is intended to be educational and is not tailored to the investment needs of any specific investor.
Views expressed are as of the date indicated, based on the information available at that time, and may change based on market or other conditions. Unless otherwise noted, the opinions provided are those of the speaker or author and not necessarily those of Fidelity Investments or its affiliates. Fidelity does not assume any duty to update any of the information.
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Bryan Sajjadi is a vice president and global equity strategist for FundsNetwork and FI Product at Fidelity Institutional® (FI). Fidelity Institutional is a division of Fidelity Investments that offers investment insights, strategies, and solutions, as well as trading services to a wide range of wealth management firms and institutional investors. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals.
In this role, Mr. Sajjadi is responsible for collaborating with Fidelity’s portfolio managers, product development, and distribution channels to act as liaison between Fidelity’s domestic and international equity strategies and FI clients. Additionally, he provides timely and actionable insights on the domestic and international equity markets.
Prior to assuming his current position in September 2016, Mr. Sajjadi was a domestic equity strategist who collaborated with field wholesalers and Fidelity’s relationship management team to drive flows into domestic equity and sector mutual funds, exchange-traded funds (ETFs), and separately managed accounts (SMAs). Mr. Sajjadi held multiple roles within the Fidelity Financial Advisor Solutions group, including internal sector specialist, inside sales representative, and an intern on their sales desk. He has been in the financial industry since 2012.
Mr. Sajjadi earned his bachelor of business administration degree in finance from Midwestern State University and his master of business administration degree and master of finance degree from Texas Tech University. He is also a CFA® charterholder and holds the Financial Industry Regulatory Authority (FINRA) Series 7 and 63 licenses.
Denise Chisholm is director of quantitative market strategy in the Quantitative Research and Investments (QRI) division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals.
In this role, Ms. Chisholm is focused on historical analysis, its application in diversified portfolio strategies, and ways to combine investment building blocks, such as factors, sectors, and themes. In addition to her research responsibilities, Ms. Chisholm is a popular contributor at various Fidelity client forums, is a LinkedIn 2020 Top Voice, and frequently appears in the media.
Prior to assuming her current position, Ms. Chisholm was a sector strategist focused on sector strategy research, its application in diversified portfolio strategies, and ways to combine sector-based investment vehicles. Ms. Chisholm also held multiple roles within Fidelity, including research analyst on the mega cap research team, research analyst
on the international team, and sector specialist.
Previously, Ms. Chisholm performed dual roles as an equity research analyst and director of Independent Research at Ameriprise Financial. In this capacity, she focused on the integration of differentiated research platforms and methodologies. Before joining Fidelity in 1999, Ms. Chisholm served as a cost-of-living consultant for ARINC and as a Department of Defense statistical consultant at MCR Federal. She has been in the financial industry since 1999.
Ms. Chisholm earned her bachelor of arts degree in economics from Boston University.
Boris Shepov is a portfolio manager and research analyst in the Equity division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals.
In this role, Mr. Shepov is responsible for managing Fidelity Select Retailing Portfolio* and Fidelity Select Gold Portfolio. Additionally, his research coverage is primarily focused on companies in the retail industry.
Prior to assuming his current responsibilities, Mr. Shepov was responsible for researching companies in the machinery sector. He also managed Select Industrial Equipment Fund.
Before joining Fidelity in 2008, Mr. Shepov worked as a summer associate at Barclays Capital and as an associate at Withum Smith & Brown, PC. Previously, he was an analyst at Ingis & Company, PA. He has been in the financial industry since 2008.
Mr. Shepov earned his Bachelor of Science and Master of Science in finance from Kyiv University of Trade and Economics, and his Master of Business Administration in finance from the Johnson Graduate School of Management at Cornell University. He is also a Certified Public Accountant (CPA).
*Mr. Shepov is expected to transition off the Fidelity Select Railing Portfolio on or about June 30, 3025.
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Holger Boerner is a portfolio manager and sector leader in the Equity division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals.
In this role, Mr. Boerner is responsible for the real estate related securities in investments for the Fidelity Core REIT Fund.
Prior to assuming his current responsibilities, Mr. Boerner managed Fidelity Select Construction and Housing Fund. He joined Fidelity as a Real Estate Investment Trust (REIT) research analyst in 2006 and has served as sector leader since 2012.
Before joining Fidelity, Mr. Boerner was an intern at Janus Capital and an analyst for L.E.K. Consulting. He also held various internships with Merrill Lynch, Roland Berger and Partner GmbH, Lucent Technologies, and Reebok. He has been in the financial industry since 2004.
Mr. Boerner earned his bachelor of arts degree in economics from ESB Reutlingen in Germany and his bachelor of science degree in international business studies from Northeastern University. Additionally, Mr. Boerner earned his master of business administration degree in finance from the Wharton School of the University of Pennsylvania and his master of arts degree in international studies from the Lauder Institute at the University of Pennsylvania.
