NEW YORK ( TheStreet) -- The Fidelity Select Transportation Portfolio (FSRFX) rolled to a gain of 11% last month, the most among stock mutual funds.
completed the $44 billion purchase of Burlington Northern Santa Fe railroad in February, focusing investors' attention on the transportation industry. The Department of Commerce last week said January's new orders for manufactured goods rose 1.7% and shipments climbed 0.3% over December, buoying railroads.
Other railroad stocks held by the Fidelity fund include
, which gained 11%;
(CSX - Get Report)
, which advanced 10%; and
(NSC - Get Report)
, which increased 9%. The three railroads represent more than 35% of the fund's assets.
The third- and fifth-largest holdings, respectively, are
Delta Air Lines
(DAL - Get Report)
, up 5%; and
(LUV - Get Report)
, up 11%. They're positioned for an uptick in corporate travel, as predicted by a survey from aviation consultant Ascend. Expanded travel budgets and more planned corporate trips by executives will benefit airline companies.
The fourth-best-performing mutual fund in February,
Fidelity Select Air Transportation Portfolio
, is a pure play on that segment of the transportation industry. The fund climbed 10% in one month. Southwest and Delta, the two top holdings, account for 28% of fund assets, with
(BA - Get Report)
at nearly 9%.
Six of the 10-best-performing stock mutual funds in February focus heavily on metals and other commodities. None are bigger than the $2.6 billion
Oppenheimer Gold & Special Minerals Fund
, which rose almost 10% during the month on large holdings of
(GOLD - Get Report)
Oppenheimer manager Shanquan Li makes the case for owning mining shares instead of bullion to avoid the 28% gain on the collectibles tax and to capture the inherent operating leverage of mining shares, which tend to rise and fall three times faster than the underlying metal.