Fidelity Management & Research is an esteemed investment manager founded in 1946, with its base of operations in Boston, Massachusetts. The firm primarily caters to pooled investment vehicles and other investment advisors, specializing in managing equity, fixed income, and balanced mutual funds. Besides their original focus on mutual funds, they have expanded their scope to include various financial services for individuals, employers, wealth management firms, and institutions. Apart from offering financial planning and advice, Fidelity also provides integrated employee benefit programs, investment and technology solutions for businesses, and institutional trading products. A key aspect of their operation is innovation, leading to new products and services that aim to deliver value and address the specific, evolving financial needs of their clients. They provide financial education resources and have made investing more accessible with commission-free trades and no account fees. They also manage benefits programs such as retirement savings, health and welfare, and student loan repayment programs for employers. For wealth management firms and institutions, they bring investment products, clearing and custody services, and execution expertise. Fidelity has also established Fidelity Digital Assets, which serves the growing interest in cryptocurrency and digital assets. With a presence in 11 countries and over 76,000 employees, the company sustains a strong international footprint. They celebrate a rich history, marked by innovation in the financial industry and a commitment to the financial well-being of their clients. The assets under their administration total to $15.0 trillion, with discretionary assets amounting to $5.8 trillion as of September 30, 2024. This enduring success stems from their ability to take intelligent risks and not just follow the crowd, as envisioned by their founder, Edward C. Johnson 2d. Their investment thesis emphasizes long-term strategic investments, harnessing market insights and maintaining a progressive approach to adapt to the market's demands. Within the industry, they are notably active investors in the biotech sector, among others.