Compass (COMP) in Fidelity Small Cap Value Fund Q3 2024

Residential Real Estate Broker Poised for Growth Amid Interest Rate Cuts

Apr 14, 2025

Summary

Non-index stake in Compass contributed significantly to fund performance.
Anticipated growth in existing-home sales due to expected interest rate cuts.
Trimmed exposure but maintained a constructive outlook on the stock.

In the Fidelity Small Cap Value Fund's Q3 2024 review, Compass (COMP, Financial) emerged as the biggest individual contributor to the fund's outperformance. The fund, managed by Gabriela Kelleher, highlighted Compass as a non-index stake that benefited from the favorable market conditions, particularly the anticipated interest rate cuts that are expected to boost existing-home sales.

"The biggest individual contributor was a non-index stake in residential real estate broker Compass (+70%). With additional interest-rate cuts on the horizon, we anticipate growth in existing-home sales, a situation we believe should help Compass. During the quarter, we trimmed our exposure but remained constructive on the stock." — Fidelity Small Cap Value Fund, Q3 2024 Fund Letter

Read full letter at gurufocus fidelity small cap value fund q3 2024 review 2024 Q3 page.

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