Fidelity SAI Real Estate Income Fund
Conservative allocation fund
Fidelity SAI Real Estate Income Fund seeks higher than average income. As a secondary objective, the fund also seeks capital growth.
The fund invests at least 80% of assets in debt and income-producing equity securities of real estate companies, with emphasis on preferred and common stocks of REITs, debt securities of real estate entities, and mortgage-backed securities, including lower-quality high-yield debt. The manager uses fundamental analysis of issuers' financial condition and industry position to select investments across domestic and foreign markets. Because the fund emphasizes high-yield debt securities, it carries credit risk from lower-quality borrowers.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Fidelity Revere Street Trust | 5.44% | $106.23M | — | — |
EQIXEQUINIX INC | 2.20% | $42.88M | 39.6K | $1,082.83 |
2.17% | $42.31M | 231.6K | $182.71 | |
WELLWELLTOWER INC | 1.65% | $32.28M | 148.5K | $217.34 |
PLDPROLOGIS INC | 1.64% | $32.08M | 225.9K | $142.02 |
1.38% | $27.01M | 938.9K | $28.77 | |
1.25% | $24.42M | 385.9K | $63.29 | |
UDRUDR INC | 0.94% | $18.28M | 503.1K | $36.34 |
VTRVENTAS INC | 0.84% | $16.44M | 187.1K | $87.86 |
VICIVICI PPTYS INC | 0.77% | $15.05M | 515.3K | $29.20 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
The 200 largest of 587 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 36.94% |
| Stocks | 35.38% |
| Securitized | 20.41% |
| Cash & short-term | 5.44% |
| Loans | 1.29% |
By sector
- Real Estate
- 46.8%
- Securitized
- 22.9%
- Other
- 19.6%
- Financials
- 5.7%
- 6 other sectors
- 4.9%
- Real Estate
- 46.8%
- Securitized
- 22.9%
- Other
- 19.6%
- Financials
- 5.7%
- Cash
- 2.4%
- Consumer Discretionary
- 1.6%
- Industrials
- 0.6%
- Energy
- 0.3%
- Utilities
- 0.1%
- International
- 0.0%
How it has done
FHLPX share class · total returns with dividends reinvested
Past returns are a record, not a forecast.
Fees & fund details
Fidelity SAI Real Estate Income Fund is a conservative allocation fund. 25% of FHLPX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 98% of the fund’s equity).
- Asset class
- Allocation (multi-asset)
- Region
- United States
- Management
- Actively managed
- Equity exposure
- Conservative
- Expense ratio, by class
- 0.55%· FHLPX 0.55%
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
59 new· the largest 7
29 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 69.8% |
| Floating rate | 30.2% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.9% |
| 1-3y | 6.5% |
| 3-5y | 13.4% |
| 5-10y | 41.2% |
| 10y+ | 37.1% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 53% |
| Interest rates | 47% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +2.29 yr |
| High yield | +0.62 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.21 yr | 8% |
| 5 yr | 1.09 yr | 42% |
| 10 yr | 0.92 yr | 36% |
| 30 yr | 0.35 yr | 14% |
| 3 mo | 0.25 yr | 9% |
| 1 yr | 0.90 yr | 31% |
| 5 yr | 1.28 yr | 44% |
| 10 yr | 0.41 yr | 14% |
| 30 yr | 0.07 yr | 2% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.19 | +0.06 | $37.6k | $11.7k |
| 1 yr | +0.21 | +0.65 | +0.26 | $126.0k | $49.9k |
| 5 yr | +1.09 | +0.99 | +0.29 | $192.8k | $56.8k |
| 10 yr | +0.92 | +0.39 | +0.02 | $77.1k | $3.1k |
| 30 yr | +0.35 | +0.07 | +0.00 | $13.2k | $182 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
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