Linde PLC (LIN) in Fidelity Select Materials Portfolio Q3 2024

Strategic Positioning in Industrial Gases with Defensive Qualities

Apr 14, 2025

Summary

Strong presence in the industrial gases sector with steady earnings growth.
Defensive qualities and pricing power make it a top holding.
Potential risks include economic downturns affecting industrial demand.
Recent performance supported by favorable market conditions.
Outlook remains positive with potential for continued outperformance.

In the Fidelity Select Materials Portfolio's Q3 2024 review, Linde PLC (LIN, Financial) was highlighted as the portfolio's top holding, reflecting its strategic importance in the industrial gases sector. The fund manager emphasized Linde's defensive qualities, steady earnings growth, and strong pricing power, which make it an attractive investment in both stable and recovering economic environments.

"Linde's position in the industrial gases group, which constituted 24% of total fund assets at quarter end, underscores its role as a cornerstone of our portfolio. We believe companies in this sector offer an attractive mix of defensive qualities and the ability to participate in an economic recovery." — Fidelity Select Materials Portfolio, Q3 2024 Fund Letter

Read full letter at gurufocus fidelity select materials portfolio q3 2024 review 2024 Q3 page.

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