Tobias Welo

Portfolio manager and sector leader of Fidelity’s cyclicals team, which comprises the Industrials and Materials sectors


Tobias Welo is a portfolio manager for Fidelity Management & Research Company (FMRCo.), the investment advisor for Fidelity’s family of mutual funds. Mr. Welo manages Select Materials Portfolio, Fidelity Advisor Materials Fund, VIP Materials Portfolio, Fidelity Materials Central Fund, Select Industrials Portfolio, Fidelity Advisor Industrials Fund, VIP Industrials Portfolio, and Fidelity Industrials Central Fund. He also co-manages VIP Contrafund Portfolio, Fidelity Series All-Sector Equity Fund, Fidelity Series Broad Market Opportunities Fund, Fidelity Stock Selector All Cap Fund, Fidelity Advisor Stock Selector All-Cap Fund, and the equity sub-portfolios of Fidelity Balanced Fund and Fidelity Advisor Balanced Fund.

He travels frequently to visit companies and government leaders, attend trade conferences and, most importantly, to see firsthand the trends that are impacting his sectors. Mr. Welo also works very closely with the other analysts on the cyclicals team, as well as those in Fidelity’s overseas offices.

Prior to joining Fidelity, Mr. Welo was a director at BlackRock, where he served as an analyst and assistant portfolio manager. From 1999 to 2002, he was a vice president and analyst for Boston Partners, covering multiple industries, including consumer staples, consumer discretionary, industrials, and the coal industry.

Born in 1971, Mr. Welo earned a BA in government from Pomona College in 1994 and an MBA from the Wharton School of the University of Pennsylvania in 1999. He is a Chartered Financial Analyst (CFA) charterholder.