Fidelity Growth Strategies Fund cites Coherent as a top performer amid broader market volatility in Q1 2026.
Coherent Corp (COHR) contributed to outperformance in Fidelity Growth Strategies Fund’s Q1 2026 results, returning -3.21% versus the Russell Midcap Growth Index’s -6.35%. The fund attributed gains to stock selection, particularly in industrials, as AI infrastructure demand bolstered Coherent’s position.
The US equity market began 2026 on a positive note but declined in late February due to AI investment concerns and geopolitical tensions. Defensive strategies favored large-cap stocks, with value equities outperforming growth. Fidelity’s fund maintained focus on companies with strong competitive advantages and growth potential.
Fidelity highlighted Coherent’s role in engineered materials and optoelectronic components, key to data center and industrial applications. The fund’s top holdings reflect a preference for midcap growth stocks with steady above-average performance.