UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-00215
Fidelity Hastings Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | June 30 |
Date of reporting period: | June 30, 2023 |
Item 1.
Reports to Stockholders
Contents
Average Annual Total Returns | |||
Periods ended June 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Class A (incl.5.75% sales charge) | 16.97% | 11.08% | 11.14% |
Class M (incl.3.50% sales charge) | 19.43% | 11.33% | 11.13% |
Class C (incl. contingent deferred sales charge) | 22.12% | 11.55% | 11.14% |
Fidelity® Mega Cap Stock Fund | 24.46% | 12.73% | 12.12% |
Class I | 24.43% | 12.71% | 12.12% |
Class Z | 24.62% | 12.85% | 12.27% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Mega Cap Stock Fund, a class of the fund, on June 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.0 | |
Exxon Mobil Corp. | 6.9 | |
Wells Fargo & Co. | 5.1 | |
General Electric Co.* | 4.9 | |
Apple, Inc.* | 4.8 | |
Bank of America Corp. | 3.2 | |
Alphabet, Inc. Class A | 2.4 | |
The Boeing Co. | 2.4 | |
JPMorgan Chase & Co. | 2.4 | |
Alphabet, Inc. Class C | 2.3 | |
43.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 20.7 | |
Financials | 16.7 | |
Industrials | 12.2 | |
Health Care | 11.3 | |
Energy | 10.6 | |
Communication Services | 9.4 | |
Consumer Staples | 4.8 | |
Consumer Discretionary | 3.8 | |
Materials | 3.1 | |
Real Estate | 0.8 | |
Utilities | 0.3 | |
Asset Allocation (% of Fund's net assets) |
Written Options - (0.0)% |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
Common Stocks - 93.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.4% | |||
Entertainment - 1.2% | |||
Sea Ltd. ADR (a) | 107 | 6,210 | |
The Walt Disney Co. (a) | 114,999 | 10,267,111 | |
Universal Music Group NV | 470,999 | 10,458,966 | |
20,732,287 | |||
Interactive Media & Services - 6.8% | |||
Alphabet, Inc.: | |||
Class A (a) | 348,200 | 41,679,540 | |
Class C (a) | 329,700 | 39,883,809 | |
Meta Platforms, Inc. Class A (a) | 124,600 | 35,757,708 | |
117,321,057 | |||
Media - 1.4% | |||
Charter Communications, Inc. Class A (a) | 3,400 | 1,249,058 | |
Comcast Corp. Class A | 523,697 | 21,759,610 | |
23,008,668 | |||
TOTAL COMMUNICATION SERVICES | 161,062,012 | ||
CONSUMER DISCRETIONARY - 3.8% | |||
Broadline Retail - 0.2% | |||
Amazon.com, Inc. (a) | 30,900 | 4,028,124 | |
Hotels, Restaurants & Leisure - 1.9% | |||
Booking Holdings, Inc. (a) | 9,648 | 26,052,784 | |
Marriott International, Inc. Class A | 25,500 | 4,684,095 | |
Starbucks Corp. | 12,900 | 1,277,874 | |
32,014,753 | |||
Household Durables - 0.7% | |||
Sony Group Corp. sponsored ADR | 130,600 | 11,759,224 | |
Specialty Retail - 0.9% | |||
Lowe's Companies, Inc. | 71,511 | 16,140,033 | |
Textiles, Apparel & Luxury Goods - 0.1% | |||
NIKE, Inc. Class B | 18,800 | 2,074,956 | |
TOTAL CONSUMER DISCRETIONARY | 66,017,090 | ||
CONSUMER STAPLES - 4.8% | |||
Beverages - 2.1% | |||
Diageo PLC | 393,762 | 16,928,223 | |
Keurig Dr. Pepper, Inc. | 234,700 | 7,339,069 | |
The Coca-Cola Co. | 193,900 | 11,676,658 | |
35,943,950 | |||
Consumer Staples Distribution & Retail - 1.3% | |||
Costco Wholesale Corp. | 1,300 | 699,894 | |
Sysco Corp. | 131,699 | 9,772,066 | |
Target Corp. | 24,300 | 3,205,170 | |
Walmart, Inc. | 56,000 | 8,802,080 | |
22,479,210 | |||
Food Products - 0.1% | |||
Mondelez International, Inc. | 20,100 | 1,466,094 | |
Household Products - 0.1% | |||
Procter & Gamble Co. | 16,310 | 2,474,879 | |
Personal Care Products - 0.8% | |||
Estee Lauder Companies, Inc. Class A | 13,500 | 2,651,130 | |
Haleon PLC ADR | 701,733 | 5,880,523 | |
Kenvue, Inc. | 163,900 | 4,330,238 | |
12,861,891 | |||
Tobacco - 0.4% | |||
Altria Group, Inc. | 39,690 | 1,797,957 | |
Philip Morris International, Inc. | 49,400 | 4,822,428 | |
6,620,385 | |||
TOTAL CONSUMER STAPLES | 81,846,409 | ||
ENERGY - 10.6% | |||
Oil, Gas & Consumable Fuels - 10.6% | |||
Canadian Natural Resources Ltd. | 290,700 | 16,354,782 | |
Exxon Mobil Corp. | 1,106,587 | 118,681,456 | |
Hess Corp. | 193,916 | 26,362,880 | |
Imperial Oil Ltd. | 290,700 | 14,873,483 | |
Shell PLC ADR | 93,110 | 5,621,982 | |
181,894,583 | |||
FINANCIALS - 16.7% | |||
Banks - 12.0% | |||
Bank of America Corp. | 1,916,651 | 54,988,717 | |
JPMorgan Chase & Co. | 279,930 | 40,713,019 | |
PNC Financial Services Group, Inc. | 99,431 | 12,523,334 | |
Truist Financial Corp. | 77,900 | 2,364,265 | |
U.S. Bancorp | 232,912 | 7,695,412 | |
Wells Fargo & Co. | 2,050,936 | 87,533,948 | |
205,818,695 | |||
Capital Markets - 0.2% | |||
Charles Schwab Corp. | 63,400 | 3,593,512 | |
Consumer Finance - 0.1% | |||
American Express Co. | 13,500 | 2,351,700 | |
Financial Services - 4.4% | |||
Berkshire Hathaway, Inc. Class B (a) | 49,500 | 16,879,500 | |
Fidelity National Information Services, Inc. | 53,700 | 2,937,390 | |
Fiserv, Inc. (a) | 24,800 | 3,128,520 | |
MasterCard, Inc. Class A | 28,852 | 11,347,492 | |
PayPal Holdings, Inc. (a) | 53,100 | 3,543,363 | |
Visa, Inc. Class A | 157,088 | 37,305,258 | |
75,141,523 | |||
TOTAL FINANCIALS | 286,905,430 | ||
HEALTH CARE - 11.3% | |||
Health Care Equipment & Supplies - 2.9% | |||
Abbott Laboratories | 39,500 | 4,306,290 | |
Boston Scientific Corp. (a) | 493,519 | 26,694,443 | |
GE Healthcare Holding LLC | 126,798 | 10,301,070 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) | 147,314 | 3,195,241 | |
Medtronic PLC | 58,596 | 5,162,308 | |
49,659,352 | |||
Health Care Providers & Services - 3.1% | |||
Cigna Group | 41,662 | 11,690,357 | |
Humana, Inc. | 5,400 | 2,414,502 | |
UnitedHealth Group, Inc. | 82,703 | 39,750,370 | |
53,855,229 | |||
Life Sciences Tools & Services - 0.8% | |||
Danaher Corp. | 53,810 | 12,914,400 | |
Pharmaceuticals - 4.5% | |||
Bristol-Myers Squibb Co. | 325,799 | 20,834,846 | |
Eli Lilly & Co. | 39,700 | 18,618,506 | |
GSK PLC sponsored ADR | 299,366 | 10,669,404 | |
Johnson & Johnson | 141,613 | 23,439,784 | |
Sanofi SA sponsored ADR | 80,073 | 4,315,935 | |
77,878,475 | |||
TOTAL HEALTH CARE | 194,307,456 | ||
INDUSTRIALS - 12.2% | |||
Aerospace & Defense - 4.2% | |||
Airbus Group NV | 128,100 | 18,520,921 | |
Raytheon Technologies Corp. | 132,830 | 13,012,027 | |
The Boeing Co. (a) | 193,100 | 40,774,996 | |
72,307,944 | |||
Air Freight & Logistics - 1.5% | |||
FedEx Corp. | 6,300 | 1,561,770 | |
United Parcel Service, Inc. Class B | 132,079 | 23,675,161 | |
25,236,931 | |||
Building Products - 0.0% | |||
Johnson Controls International PLC | 8,500 | 579,190 | |
Electrical Equipment - 0.4% | |||
Rockwell Automation, Inc. | 18,400 | 6,061,880 | |
Industrial Conglomerates - 4.9% | |||
General Electric Co. (b) | 763,594 | 83,880,801 | |
Machinery - 1.2% | |||
Caterpillar, Inc. | 55,000 | 13,532,750 | |
Deere & Co. | 18,380 | 7,447,392 | |
20,980,142 | |||
TOTAL INDUSTRIALS | 209,046,888 | ||
INFORMATION TECHNOLOGY - 20.7% | |||
IT Services - 0.1% | |||
Kyndryl Holdings, Inc. (a) | 220 | 2,922 | |
Snowflake, Inc. (a) | 1,000 | 175,980 | |
Twilio, Inc. Class A (a) | 25,300 | 1,609,586 | |
1,788,488 | |||
Semiconductors & Semiconductor Equipment - 4.6% | |||
Analog Devices, Inc. | 8,000 | 1,558,480 | |
Applied Materials, Inc. | 146,174 | 21,127,990 | |
ASML Holding NV (depository receipt) | 5,536 | 4,012,216 | |
Broadcom, Inc. | 1,600 | 1,387,888 | |
Lam Research Corp. | 21,700 | 13,950,062 | |
Marvell Technology, Inc. | 99,249 | 5,933,105 | |
NVIDIA Corp. | 26,100 | 11,040,822 | |
Qualcomm, Inc. (b) | 105,016 | 12,501,105 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 63,900 | 6,448,788 | |
77,960,456 | |||
Software - 11.2% | |||
Adobe, Inc. (a) | 36,010 | 17,608,530 | |
Autodesk, Inc. (a) | 800 | 163,688 | |
Intuit, Inc. | 10,100 | 4,627,719 | |
Microsoft Corp. | 452,566 | 154,116,824 | |
Salesforce, Inc. (a) | 19,300 | 4,077,318 | |
SAP SE sponsored ADR | 89,900 | 12,299,219 | |
192,893,298 | |||
Technology Hardware, Storage & Peripherals - 4.8% | |||
Apple, Inc. (b) | 428,142 | 83,046,704 | |
TOTAL INFORMATION TECHNOLOGY | 355,688,946 | ||
MATERIALS - 3.1% | |||
Chemicals - 0.7% | |||
DuPont de Nemours, Inc. | 129,818 | 9,274,198 | |
Linde PLC | 5,000 | 1,905,400 | |
LyondellBasell Industries NV Class A | 15,400 | 1,414,182 | |
12,593,780 | |||
Metals & Mining - 2.4% | |||
Freeport-McMoRan, Inc. | 809,900 | 32,396,000 | |
Glencore PLC | 1,469,600 | 8,332,464 | |
40,728,464 | |||
TOTAL MATERIALS | 53,322,244 | ||
REAL ESTATE - 0.8% | |||
Equity Real Estate Investment Trusts (REITs) - 0.8% | |||
American Tower Corp. | 18,400 | 3,568,496 | |
Crown Castle International Corp. | 15,600 | 1,777,464 | |
Simon Property Group, Inc. | 71,300 | 8,233,724 | |
13,579,684 | |||
UTILITIES - 0.3% | |||
Electric Utilities - 0.3% | |||
Southern Co. | 67,500 | 4,741,875 | |
TOTAL COMMON STOCKS (Cost $970,916,106) | 1,608,412,617 | ||
Money Market Funds - 6.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.32% (c) (Cost $106,272,490) | 106,251,240 | 106,272,490 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $1,077,188,596) | 1,714,685,107 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 1,451,352 |
NET ASSETS - 100.0% | 1,716,136,459 |
Written Options | ||||||
Counterparty | Number of Contracts | Notional Amount ($) | Exercise Price ($) | Expiration Date | Value ($) | |
Call Options | ||||||
Apple, Inc. | Chicago Board Options Exchange | 400 | 7,758,800 | 195.00 | 08/18/23 | (221,000) |
General Electric Co. | Chicago Board Options Exchange | 300 | 3,295,500 | 115.00 | 07/21/23 | (17,100) |
Qualcomm, Inc. | Chicago Board Options Exchange | 200 | 2,380,800 | 125.00 | 08/18/23 | (68,000) |
TOTAL WRITTEN OPTIONS | (306,100) |
(a) | Non-income producing |
(b) | Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $13,435,100. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 23,229,078 | 257,886,386 | 174,842,974 | 1,996,242 | - | - | 106,272,490 | 0.3% |
Fidelity Securities Lending Cash Central Fund 5.14% | - | 77,834,665 | 77,834,665 | 2,225 | - | - | - | 0.0% |
Total | 23,229,078 | 335,721,051 | 252,677,639 | 1,998,467 | - | - | 106,272,490 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 161,062,012 | 161,062,012 | - | - |
Consumer Discretionary | 66,017,090 | 66,017,090 | - | - |
Consumer Staples | 81,846,409 | 64,918,186 | 16,928,223 | - |
Energy | 181,894,583 | 181,894,583 | - | - |
Financials | 286,905,430 | 286,905,430 | - | - |
Health Care | 194,307,456 | 194,307,456 | - | - |
Industrials | 209,046,888 | 190,525,967 | 18,520,921 | - |
Information Technology | 355,688,946 | 355,688,946 | - | - |
Materials | 53,322,244 | 44,989,780 | 8,332,464 | - |
Real Estate | 13,579,684 | 13,579,684 | - | - |
Utilities | 4,741,875 | 4,741,875 | - | - |
Money Market Funds | 106,272,490 | 106,272,490 | - | - |
Total Investments in Securities: | 1,714,685,107 | 1,670,903,499 | 43,781,608 | - |
Derivative Instruments: | ||||
Liabilities | ||||
Written Options | (306,100) | (306,100) | - | - |
Total Liabilities | (306,100) | (306,100) | - | - |
Total Derivative Instruments: | (306,100) | (306,100) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Written Options (a) | 0 | (306,100) |
Total Equity Risk | 0 | (306,100) |
Total Value of Derivatives | 0 | (306,100) |
Statement of Assets and Liabilities | ||||
June 30, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $970,916,106) | $ | 1,608,412,617 | ||
Fidelity Central Funds (cost $106,272,490) | 106,272,490 | |||
Total Investment in Securities (cost $1,077,188,596) | $ | 1,714,685,107 | ||
Foreign currency held at value (cost $2) | 2 | |||
Receivable for investments sold | 139,807 | |||
Receivable for fund shares sold | 2,617,149 | |||
Dividends receivable | 1,533,255 | |||
Distributions receivable from Fidelity Central Funds | 451,769 | |||
Other receivables | 4,714 | |||
Total assets | 1,719,431,803 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,124,595 | ||
Payable for fund shares redeemed | 943,488 | |||
Accrued management fee | 586,290 | |||
Transfer agent fee payable | 183,697 | |||
Distribution and service plan fees payable | 58,662 | |||
Written options, at value (premium received $206,794) | 306,100 | |||
Other affiliated payables | 37,897 | |||
Other payables and accrued expenses | 54,615 | |||
Total Liabilities | 3,295,344 | |||
Net Assets | $ | 1,716,136,459 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,076,338,565 | ||
Total accumulated earnings (loss) | 639,797,894 | |||
Net Assets | $ | 1,716,136,459 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($133,251,952 ÷ 6,929,843 shares) (a) | $ | 19.23 | ||
Maximum offering price per share (100/94.25 of $19.23) | $ | 20.40 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($30,973,358 ÷ 1,611,667 shares) (a) | $ | 19.22 | ||
Maximum offering price per share (100/96.50 of $19.22) | $ | 19.92 | ||
Class C : | ||||
Net Asset Value and offering price per share ($23,061,492 ÷ 1,230,600 shares) (a) | $ | 18.74 | ||
Mega Cap Stock : | ||||
Net Asset Value , offering price and redemption price per share ($1,203,801,828 ÷ 61,488,933 shares) | $ | 19.58 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($132,415,857 ÷ 6,752,894 shares) | $ | 19.61 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($192,631,972 ÷ 9,897,063 shares) | $ | 19.46 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Year ended June 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 24,034,304 | ||
Income from Fidelity Central Funds (including $2,225 from security lending) | 1,998,467 | |||
Total Income | 26,032,771 | |||
Expenses | ||||
Management fee | $ | 5,876,567 | ||
Transfer agent fees | 1,913,194 | |||
Distribution and service plan fees | 616,293 | |||
Accounting fees | 387,875 | |||
Custodian fees and expenses | 38,622 | |||
Independent trustees' fees and expenses | 6,901 | |||
Registration fees | 168,938 | |||
Audit | 72,364 | |||
Legal | 3,629 | |||
Interest | 20,022 | |||
Miscellaneous | 7,642 | |||
Total expenses before reductions | 9,112,047 | |||
Expense reductions | (55,780) | |||
Total expenses after reductions | 9,056,267 | |||
Net Investment income (loss) | 16,976,504 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 4,629,700 | |||
Foreign currency transactions | (37,940) | |||
Written options | 999,161 | |||
Total net realized gain (loss) | 5,590,921 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 278,551,525 | |||
Assets and liabilities in foreign currencies | 18,286 | |||
Written options | (186,110) | |||
Total change in net unrealized appreciation (depreciation) | 278,383,701 | |||
Net gain (loss) | 283,974,622 | |||
Net increase (decrease) in net assets resulting from operations | $ | 300,951,126 |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2023 | Year ended June 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 16,976,504 | $ | 16,810,761 |
Net realized gain (loss) | 5,590,921 | 59,966,322 | ||
Change in net unrealized appreciation (depreciation) | 278,383,701 | (243,469,369) | ||
Net increase (decrease) in net assets resulting from operations | 300,951,126 | (166,692,286) | ||
Distributions to shareholders | (58,426,988) | (82,065,696) | ||
Share transactions - net increase (decrease) | 137,430,788 | (79,071,772) | ||
Total increase (decrease) in net assets | 379,954,926 | (327,829,754) | ||
Net Assets | ||||
Beginning of period | 1,336,181,533 | 1,664,011,287 | ||
End of period | $ | 1,716,136,459 | $ | 1,336,181,533 |
Fidelity Advisor® Mega Cap Stock Fund Class A |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.14 | $ | 19.05 | $ | 13.83 | $ | 15.51 | $ | 17.34 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .17 | .14 | .15 | .22 | .29 | |||||
Net realized and unrealized gain (loss) | 3.61 | (2.17) | 6.31 | .08 | .77 | |||||
Total from investment operations | 3.78 | (2.03) | 6.46 | .30 | 1.06 | |||||
Distributions from net investment income | (.18) | (.29) | (.24) | (.27) | (.26) | |||||
Distributions from net realized gain | (.51) | (.59) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.69) | (.88) | (1.24) | (1.98) C | (2.89) | |||||
Net asset value, end of period | $ | 19.23 | $ | 16.14 | $ | 19.05 | $ | 13.83 | $ | 15.51 |
Total Return D,E | 24.10% | (11.25)% F | 49.60% | 1.78% | 6.99% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .90% | .90% | .91% | .93% | .93% | |||||
Expenses net of fee waivers, if any | .90% | .89% | .91% | .93% | .93% | |||||
Expenses net of all reductions | .90% | .89% | .91% | .92% | .93% | |||||
Net investment income (loss) | .99% | .78% | .95% | 1.56% | 1.88% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 133,252 | $ | 88,064 | $ | 87,302 | $ | 54,948 | $ | 64,311 |
Portfolio turnover rate I | 18% | 13% | 43% | 49% J | 36% |
Fidelity Advisor® Mega Cap Stock Fund Class M |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.13 | $ | 19.03 | $ | 13.82 | $ | 15.50 | $ | 17.31 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .13 | .10 | .11 | .19 | .25 | |||||
Net realized and unrealized gain (loss) | 3.61 | (2.17) | 6.31 | .06 | .78 | |||||
Total from investment operations | 3.74 | (2.07) | 6.42 | .25 | 1.03 | |||||
Distributions from net investment income | (.13) | (.24) | (.20) | (.23) | (.21) | |||||
Distributions from net realized gain | (.51) | (.59) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.65) C | (.83) | (1.21) C | (1.93) | (2.84) | |||||
Net asset value, end of period | $ | 19.22 | $ | 16.13 | $ | 19.03 | $ | 13.82 | $ | 15.50 |
Total Return D,E | 23.76% | (11.45)% F | 49.19% | 1.50% | 6.79% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | 1.16% | 1.15% | 1.17% | 1.18% | 1.19% | |||||
Expenses net of fee waivers, if any | 1.16% | 1.15% | 1.17% | 1.18% | 1.19% | |||||
Expenses net of all reductions | 1.16% | 1.15% | 1.16% | 1.18% | 1.18% | |||||
Net investment income (loss) | .73% | .52% | .69% | 1.31% | 1.63% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 30,973 | $ | 25,617 | $ | 28,266 | $ | 21,208 | $ | 25,031 |
Portfolio turnover rate I | 18% | 13% | 43% | 49% J | 36% |
Fidelity Advisor® Mega Cap Stock Fund Class C |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 15.74 | $ | 18.58 | $ | 13.53 | $ | 15.20 | $ | 17.03 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .03 | - C | .03 | .11 | .17 | |||||
Net realized and unrealized gain (loss) | 3.53 | (2.12) | 6.15 | .08 | .77 | |||||
Total from investment operations | 3.56 | (2.12) | 6.18 | .19 | .94 | |||||
Distributions from net investment income | (.04) | (.15) | (.13) | (.15) | (.13) | |||||
Distributions from net realized gain | (.51) | (.58) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.56) D | (.72) D | (1.13) | (1.86) D | (2.77) D | |||||
Net asset value, end of period | $ | 18.74 | $ | 15.74 | $ | 18.58 | $ | 13.53 | $ | 15.20 |
Total Return E,F | 23.12% | (11.90)% G | 48.31% | 1.05% | 6.23% | |||||
Ratios to Average Net Assets B,H,I | ||||||||||
Expenses before reductions | 1.69% | 1.67% | 1.69% | 1.69% | 1.68% | |||||
Expenses net of fee waivers, if any | 1.68% | 1.67% | 1.69% | 1.69% | 1.67% | |||||
Expenses net of all reductions | 1.68% | 1.67% | 1.69% | 1.69% | 1.67% | |||||
Net investment income (loss) | .21% | -% J | .17% | .80% | 1.14% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 23,061 | $ | 20,255 | $ | 27,727 | $ | 24,283 | $ | 28,459 |
Portfolio turnover rate K | 18% | 13% | 43% | 49% L | 36% |
Fidelity® Mega Cap Stock Fund |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.42 | $ | 19.36 | $ | 14.04 | $ | 15.71 | $ | 17.52 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .22 | .20 | .20 | .27 | .34 | |||||
Net realized and unrealized gain (loss) | 3.68 | (2.21) | 6.40 | .07 | .78 | |||||
Total from investment operations | 3.90 | (2.01) | 6.60 | .34 | 1.12 | |||||
Distributions from net investment income | (.23) | (.34) | (.28) | (.31) | (.30) | |||||
Distributions from net realized gain | (.51) | (.59) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.74) | (.93) | (1.28) | (2.01) | (2.93) | |||||
Net asset value, end of period | $ | 19.58 | $ | 16.42 | $ | 19.36 | $ | 14.04 | $ | 15.71 |
Total Return C | 24.46% | (10.99)% D | 49.96% | 2.09% | 7.33% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .63% | .61% | .63% | .65% | .65% | |||||
Expenses net of fee waivers, if any | .62% | .61% | .63% | .64% | .65% | |||||
Expenses net of all reductions | .62% | .61% | .63% | .64% | .65% | |||||
Net investment income (loss) | 1.27% | 1.06% | 1.23% | 1.84% | 2.16% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 1,203,802 | $ | 927,217 | $ | 1,166,988 | $ | 773,080 | $ | 1,488,549 |
Portfolio turnover rate G | 18% | 13% | 43% | 49% H | 36% |
Fidelity Advisor® Mega Cap Stock Fund Class I |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.45 | $ | 19.39 | $ | 14.07 | $ | 15.72 | $ | 17.53 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .22 | .19 | .20 | .27 | .34 | |||||
Net realized and unrealized gain (loss) | 3.68 | (2.21) | 6.42 | .06 | .79 | |||||
Total from investment operations | 3.90 | (2.02) | 6.62 | .33 | 1.13 | |||||
Distributions from net investment income | (.23) | (.34) | (.29) | (.28) | (.30) | |||||
Distributions from net realized gain | (.51) | (.59) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.74) | (.92) C | (1.30) C | (1.98) | (2.94) C | |||||
Net asset value, end of period | $ | 19.61 | $ | 16.45 | $ | 19.39 | $ | 14.07 | $ | 15.72 |
Total Return D | 24.43% | (11.00)% E | 49.97% | 2.04% | 7.33% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .63% | .65% | .65% | .66% | .66% | |||||
Expenses net of fee waivers, if any | .62% | .64% | .65% | .66% | .66% | |||||
Expenses net of all reductions | .62% | .64% | .64% | .65% | .66% | |||||
Net investment income (loss) | 1.26% | 1.03% | 1.21% | 1.83% | 2.15% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 132,416 | $ | 52,884 | $ | 39,876 | $ | 20,725 | $ | 147,465 |
Portfolio turnover rate H | 18% | 13% | 43% | 49% I | 36% |
Fidelity Advisor® Mega Cap Stock Fund Class Z |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.32 | $ | 19.25 | $ | 13.97 | $ | 15.65 | $ | 17.46 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .24 | .22 | .22 | .28 | .35 | |||||
Net realized and unrealized gain (loss) | 3.66 | (2.20) | 6.36 | .08 | .79 | |||||
Total from investment operations | 3.90 | (1.98) | 6.58 | .36 | 1.14 | |||||
Distributions from net investment income | (.25) | (.36) | (.30) | (.33) | (.32) | |||||
Distributions from net realized gain | (.51) | (.59) | (1.00) | (1.70) | (2.63) | |||||
Total distributions | (.76) | (.95) | (1.30) | (2.04) C | (2.95) | |||||
Net asset value, end of period | $ | 19.46 | $ | 16.32 | $ | 19.25 | $ | 13.97 | $ | 15.65 |
Total Return D | 24.62% | (10.92)% E | 50.14% | 2.18% | 7.47% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions | .52% | .51% | .52% | .53% | .53% | |||||
Expenses net of fee waivers, if any | .52% | .51% | .52% | .52% | .53% | |||||
Expenses net of all reductions | .52% | .51% | .52% | .52% | .53% | |||||
Net investment income (loss) | 1.37% | 1.16% | 1.34% | 1.96% | 2.29% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 192,632 | $ | 222,146 | $ | 313,854 | $ | 213,832 | $ | 193,889 |
Portfolio turnover rate H | 18% | 13% | 43% | 49% I | 36% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $657,232,065 |
Gross unrealized depreciation | (29,450,852) |
Net unrealized appreciation (depreciation) | $627,781,213 |
Tax Cost | $1,086,597,794 |
Undistributed ordinary income | $9,341,794 |
Undistributed long-term capital gain | $2,681,455 |
Net unrealized appreciation (depreciation) on securities and other investments | $627,774,646 |
June 30, 2023 | June 30, 2022 | |
Ordinary Income | $17,258,351 | $48,982,782 |
Long-term Capital Gains | 41,168,637 | 33,082,914 |
Total | $58,426,988 | $82,065,696 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Mega Cap Stock Fund | 250,580,351 | 236,494,867 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $264,748 | $ 9,224 |
Class M | .25% | .25% | 140,282 | - |
Class C | .75% | .25% | 211,263 | 28,884 |
$616,293 | $38,108 |
Retained by FDC | |
Class A | $198,881 |
Class M | 7,262 |
Class C A | 17,485 |
$223,628 |
Amount | % of Class-Level Average Net Assets | |
Class A | $187,836 | .18 |
Class M | 52,045 | .19 |
Class C | 44,093 | .21 |
Mega Cap Stock | 1,455,067 | .15 |
Class I | 97,602 | .15 |
Class Z | 76,551 | .04 |
$1,913,194 |
% of Average Net Assets | |
Fidelity Mega Cap Stock Fund | .03 |
Amount | |
Fidelity Mega Cap Stock Fund | $2,910 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Mega Cap Stock Fund | Borrower | $6,447,229 | 3.16% | $19,829 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Mega Cap Stock Fund | 22,629,000 | 7,980,953 | 1,713,863 |
Amount | |
Fidelity Mega Cap Stock Fund | $2,538 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Mega Cap Stock Fund | $232 | $- | $- |
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Mega Cap Stock Fund | $466,200 | 2.98% | $193 |
Expense reduction | |
Class M | $305 |
Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Mega Cap Stock Fund | ||
Distributions to shareholders | ||
Class A | $3,853,966 | $4,168,848 |
Class M | 1,033,161 | 1,236,079 |
Class C | 718,884 | 1,054,574 |
Mega Cap Stock | 41,036,146 | 56,066,052 |
Class I | 2,435,167 | 1,998,583 |
Class Z | 9,349,664 | 17,541,560 |
Total | $58,426,988 | $82,065,696 |
Shares | Shares | Dollars | Dollars | |
Year ended June 30, 2023 | Year ended June 30, 2022 | Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Mega Cap Stock Fund | ||||
Class A | ||||
Shares sold | 2,157,526 | 1,492,302 | $37,668,977 | $27,642,806 |
Reinvestment of distributions | 228,217 | 221,711 | 3,827,312 | 4,140,030 |
Shares redeemed | (912,758) | (840,067) | (15,785,502) | (15,338,731) |
Net increase (decrease) | 1,472,985 | 873,946 | $25,710,787 | $16,444,105 |
Class M | ||||
Shares sold | 239,387 | 292,638 | $4,183,606 | $5,511,563 |
Reinvestment of distributions | 61,536 | 66,120 | 1,032,772 | 1,234,490 |
Shares redeemed | (277,862) | (255,295) | (4,825,558) | (4,693,563) |
Net increase (decrease) | 23,061 | 103,463 | $390,820 | $2,052,490 |
Class C | ||||
Shares sold | 328,805 | 260,842 | $5,600,248 | $4,755,232 |
Reinvestment of distributions | 43,647 | 57,728 | 716,292 | 1,053,354 |
Shares redeemed | (428,918) | (523,457) | (7,252,603) | (9,487,326) |
Net increase (decrease) | (56,466) | (204,887) | $(936,063) | $(3,678,740) |
Mega Cap Stock | ||||
Shares sold | 14,800,679 | 7,598,334 | $269,976,937 | $146,062,944 |
Reinvestment of distributions | 2,240,783 | 2,797,662 | 38,208,143 | 53,068,612 |
Shares redeemed | (12,025,767) | (14,201,219) | (203,167,741) | (268,561,849) |
Net increase (decrease) | 5,015,695 | (3,805,223) | $105,017,339 | $(69,430,293) |
Class I | ||||
Shares sold | 5,717,376 | 2,965,041 | $104,848,193 | $57,337,133 |
Reinvestment of distributions | 141,083 | 103,482 | 2,409,447 | 1,967,233 |
Shares redeemed | (2,320,856) | (1,909,760) | (41,167,093) | (36,447,458) |
Net increase (decrease) | 3,537,603 | 1,158,763 | $66,090,547 | $22,856,908 |
Class Z | ||||
Shares sold | 7,722,491 | 17,477,193 | $125,806,074 | $318,523,898 |
Reinvestment of distributions | 80,256 | 547,391 | 1,360,444 | 10,313,549 |
Shares redeemed | (11,514,787) | (20,717,755) | (186,009,160) | (376,153,689) |
Net increase (decrease) | (3,712,040) | (2,693,171) | $(58,842,642) | $(47,316,242) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2023 to June 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During Period- C January 1, 2023 to June 30, 2023 | |||||||
Fidelity® Mega Cap Stock Fund | ||||||||||
Class A | .90% | |||||||||
Actual | $ 1,000 | $ 1,157.00 | $ 4.81 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.33 | $ 4.51 | |||||||
Class M | 1.16% | |||||||||
Actual | $ 1,000 | $ 1,155.70 | $ 6.20 | |||||||
Hypothetical- B | $ 1,000 | $ 1,019.04 | $ 5.81 | |||||||
Class C | 1.68% | |||||||||
Actual | $ 1,000 | $ 1,152.50 | $ 8.97 | |||||||
Hypothetical- B | $ 1,000 | $ 1,016.46 | $ 8.40 | |||||||
Fidelity® Mega Cap Stock Fund | .62% | |||||||||
Actual | $ 1,000 | $ 1,158.60 | $ 3.32 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.72 | $ 3.11 | |||||||
Class I | .62% | |||||||||
Actual | $ 1,000 | $ 1,158.30 | $ 3.32 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.72 | $ 3.11 | |||||||
Class Z | .52% | |||||||||
Actual | $ 1,000 | $ 1,159.00 | $ 2.78 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.22 | $ 2.61 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Average Annual Total Returns | |||
Periods ended June 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Growth Discovery Fund | 21.46% | 14.78% | 15.74% |
Class K | 21.61% | 14.90% | 15.88% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Discovery Fund, a class of the fund, on June 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 12.2 | |
NVIDIA Corp. | 7.3 | |
Alphabet, Inc. Class A | 4.9 | |
Apple, Inc. | 4.2 | |
Uber Technologies, Inc. | 3.4 | |
Amazon.com, Inc. | 3.2 | |
Vertex Pharmaceuticals, Inc. | 2.3 | |
UnitedHealth Group, Inc. | 2.3 | |
Eli Lilly & Co | 2.0 | |
Netflix, Inc. | 1.9 | |
43.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 37.5 | |
Health Care | 16.4 | |
Industrials | 12.3 | |
Consumer Discretionary | 10.5 | |
Communication Services | 9.5 | |
Financials | 5.9 | |
Energy | 4.1 | |
Consumer Staples | 1.5 | |
Materials | 0.3 | |
Utilities | 0.0 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 97.8% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.5% | |||
Entertainment - 4.6% | |||
Netflix, Inc. (a) | 145,635 | 64,151 | |
Universal Music Group NV | 2,660,016 | 59,068 | |
Warner Music Group Corp. Class A | 1,292,346 | 33,717 | |
156,936 | |||
Interactive Media & Services - 4.9% | |||
Alphabet, Inc. Class A (a) | 1,408,369 | 168,582 | |
Epic Games, Inc. (a)(b)(c) | 2,244 | 1,580 | |
170,162 | |||
Media - 0.0% | |||
Innovid Corp. (a) | 166,306 | 181 | |
TOTAL COMMUNICATION SERVICES | 327,279 | ||
CONSUMER DISCRETIONARY - 10.5% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (d) | 17,500 | 672 | |
Automobiles - 0.9% | |||
BYD Co. Ltd. (H Shares) | 465,500 | 14,926 | |
Ferrari NV | 49,959 | 16,247 | |
31,173 | |||
Broadline Retail - 4.1% | |||
Amazon.com, Inc. (a) | 854,629 | 111,409 | |
Dollarama, Inc. | 26,400 | 1,788 | |
MercadoLibre, Inc. (a) | 24,799 | 29,377 | |
142,574 | |||
Diversified Consumer Services - 0.1% | |||
Laureate Education, Inc. Class A | 315,582 | 3,815 | |
Hotels, Restaurants & Leisure - 2.4% | |||
Airbnb, Inc. Class A (a) | 197,178 | 25,270 | |
Booking Holdings, Inc. (a) | 6,722 | 18,152 | |
Flutter Entertainment PLC (a) | 162,566 | 32,620 | |
Kura Sushi U.S.A., Inc. Class A (a)(d) | 55,600 | 5,168 | |
81,210 | |||
Household Durables - 0.0% | |||
Blu Investments LLC (a)(b)(c) | 3,320,224 | 1 | |
Specialty Retail - 1.8% | |||
Five Below, Inc. (a) | 133,116 | 26,163 | |
TJX Companies, Inc. | 424,727 | 36,013 | |
62,176 | |||
Textiles, Apparel & Luxury Goods - 1.2% | |||
Compagnie Financiere Richemont SA Series A | 5,640 | 958 | |
LVMH Moet Hennessy Louis Vuitton SE | 24,742 | 23,330 | |
On Holding AG (a) | 7,900 | 261 | |
Samsonite International SA (a)(e) | 5,936,402 | 16,743 | |
41,292 | |||
TOTAL CONSUMER DISCRETIONARY | 362,913 | ||
CONSUMER STAPLES - 1.5% | |||
Beverages - 1.2% | |||
Boston Beer Co., Inc. Class A (a) | 30,100 | 9,284 | |
Monster Beverage Corp. | 564,900 | 32,448 | |
41,732 | |||
Personal Care Products - 0.3% | |||
Estee Lauder Companies, Inc. Class A | 52,600 | 10,330 | |
TOTAL CONSUMER STAPLES | 52,062 | ||
ENERGY - 4.1% | |||
Energy Equipment & Services - 0.5% | |||
Baker Hughes Co. Class A | 530,861 | 16,781 | |
Oil, Gas & Consumable Fuels - 3.6% | |||
Cheniere Energy, Inc. | 320,600 | 48,847 | |
Denbury, Inc. (a) | 66,309 | 5,720 | |
New Fortress Energy, Inc. | 238,095 | 6,376 | |
Range Resources Corp. | 586,400 | 17,240 | |
Reliance Industries Ltd. | 1,466,547 | 45,703 | |
123,886 | |||
TOTAL ENERGY | 140,667 | ||
FINANCIALS - 5.9% | |||
Banks - 0.1% | |||
HDFC Bank Ltd. | 89,073 | 1,848 | |
Capital Markets - 1.8% | |||
CME Group, Inc. | 336,220 | 62,298 | |
Financial Services - 2.6% | |||
Block, Inc. Class A (a) | 299,133 | 19,913 | |
MasterCard, Inc. Class A | 159,503 | 62,733 | |
One97 Communications Ltd. (a) | 285,800 | 3,029 | |
Rocket Companies, Inc. (a)(d) | 480,018 | 4,301 | |
89,976 | |||
Insurance - 1.4% | |||
Arthur J. Gallagher & Co. | 129,403 | 28,413 | |
BRP Group, Inc. (a) | 254,283 | 6,301 | |
Marsh & McLennan Companies, Inc. | 79,093 | 14,876 | |
49,590 | |||
TOTAL FINANCIALS | 203,712 | ||
HEALTH CARE - 16.4% | |||
Biotechnology - 6.4% | |||
2seventy bio, Inc. (a) | 34,400 | 348 | |
Adamas Pharmaceuticals, Inc.: | |||
rights (a)(c) | 678,800 | 170 | |
rights (a)(c) | 678,800 | 75 | |
Affimed NV (a)(d) | 251,902 | 151 | |
Alnylam Pharmaceuticals, Inc. (a) | 99,066 | 18,817 | |
Arcellx, Inc. (a) | 25,300 | 800 | |
Beam Therapeutics, Inc. (a) | 25,400 | 811 | |
Biogen, Inc. (a) | 67,145 | 19,126 | |
Cytokinetics, Inc. (a) | 74,355 | 2,425 | |
Evelo Biosciences, Inc. (a)(d) | 9,380 | 30 | |
Galapagos NV sponsored ADR (a) | 196,745 | 8,000 | |
Gamida Cell Ltd. (a)(d) | 996,121 | 1,923 | |
Gamida Cell Ltd. warrants 4/21/28 (a) | 182,600 | 202 | |
Genmab A/S (a) | 14,700 | 5,571 | |
Hookipa Pharma, Inc. (a) | 454,700 | 400 | |
Immunocore Holdings PLC ADR (a) | 68,900 | 4,131 | |
Insmed, Inc. (a) | 324,197 | 6,841 | |
Legend Biotech Corp. ADR (a) | 84,700 | 5,847 | |
Regeneron Pharmaceuticals, Inc. (a) | 37,253 | 26,768 | |
Repligen Corp. (a) | 57,400 | 8,120 | |
Rubius Therapeutics, Inc. (a)(d) | 54,080 | 1 | |
Seagen, Inc. (a) | 150,809 | 29,025 | |
Seres Therapeutics, Inc. (a) | 161,000 | 771 | |
Synlogic, Inc. (a) | 442,700 | 190 | |
Vertex Pharmaceuticals, Inc. (a) | 219,522 | 77,252 | |
Vor Biopharma, Inc. (a) | 246,895 | 763 | |
XOMA Corp. (a) | 147,500 | 2,786 | |
221,344 | |||
Health Care Equipment & Supplies - 1.6% | |||
Boston Scientific Corp. (a) | 831,793 | 44,992 | |
Insulet Corp. (a) | 2,600 | 750 | |
Penumbra, Inc. (a) | 24,100 | 8,292 | |
54,034 | |||
Health Care Providers & Services - 3.2% | |||
HealthEquity, Inc. (a) | 493,463 | 31,157 | |
Option Care Health, Inc. (a) | 20,580 | 669 | |
UnitedHealth Group, Inc. | 159,782 | 76,798 | |
108,624 | |||
Health Care Technology - 0.2% | |||
Evolent Health, Inc. (b) | 159,100 | 4,580 | |
Simulations Plus, Inc. (d) | 50,400 | 2,184 | |
6,764 | |||
Life Sciences Tools & Services - 2.2% | |||
Bio-Techne Corp. | 98,799 | 8,065 | |
Bruker Corp. | 227,123 | 16,789 | |
Charles River Laboratories International, Inc. (a) | 55,914 | 11,756 | |
Codexis, Inc. (a) | 213,101 | 597 | |
Danaher Corp. | 66,714 | 16,011 | |
Sartorius Stedim Biotech | 33,800 | 8,435 | |
Thermo Fisher Scientific, Inc. | 30,111 | 15,710 | |
77,363 | |||
Pharmaceuticals - 2.8% | |||
Aclaris Therapeutics, Inc. (a) | 89,364 | 927 | |
AstraZeneca PLC sponsored ADR | 279,915 | 20,034 | |
Eli Lilly & Co | 147,889 | 69,357 | |
Nuvation Bio, Inc. (a) | 119,094 | 214 | |
Revance Therapeutics, Inc. (a) | 259,981 | 6,580 | |
97,112 | |||
TOTAL HEALTH CARE | 565,241 | ||
INDUSTRIALS - 12.3% | |||
Aerospace & Defense - 0.4% | |||
Spirit AeroSystems Holdings, Inc. Class A (d) | 508,910 | 14,855 | |
The Boeing Co. (a) | 1,114 | 235 | |
15,090 | |||
Electrical Equipment - 1.4% | |||
Bloom Energy Corp. Class A (a)(d) | 46,373 | 758 | |
Eaton Corp. PLC | 194,226 | 39,059 | |
Hubbell, Inc. Class B | 27,772 | 9,208 | |
49,025 | |||
Ground Transportation - 3.4% | |||
Uber Technologies, Inc. (a) | 2,766,635 | 119,436 | |
Industrial Conglomerates - 1.5% | |||
General Electric Co. | 458,689 | 50,387 | |
Machinery - 2.0% | |||
Energy Recovery, Inc. (a) | 103,900 | 2,904 | |
Ingersoll Rand, Inc. | 529,903 | 34,634 | |
Parker Hannifin Corp. | 56,137 | 21,896 | |
Westinghouse Air Brake Tech Co. | 84,164 | 9,230 | |
68,664 | |||
Passenger Airlines - 0.5% | |||
Ryanair Holdings PLC sponsored ADR (a) | 166,111 | 18,372 | |
Professional Services - 2.2% | |||
Equifax, Inc. | 84,200 | 19,812 | |
KBR, Inc. | 627,283 | 40,811 | |
TransUnion Holding Co., Inc. | 181,800 | 14,240 | |
74,863 | |||
Trading Companies & Distributors - 0.9% | |||
Ferguson PLC | 191,876 | 30,241 | |
TOTAL INDUSTRIALS | 426,078 | ||
INFORMATION TECHNOLOGY - 37.5% | |||
Electronic Equipment, Instruments & Components - 1.2% | |||
Flex Ltd. (a) | 873,429 | 24,142 | |
Jabil, Inc. | 170,000 | 18,348 | |
42,490 | |||
IT Services - 1.9% | |||
Gartner, Inc. (a) | 29,900 | 10,474 | |
MongoDB, Inc. Class A (a) | 100,326 | 41,233 | |
Shopify, Inc. Class A (a) | 219,000 | 14,147 | |
65,854 | |||
Semiconductors & Semiconductor Equipment - 13.5% | |||
Aixtron AG | 339,339 | 11,512 | |
Allegro MicroSystems LLC (a) | 126,600 | 5,715 | |
ASML Holding NV (depository receipt) | 26,267 | 19,037 | |
BE Semiconductor Industries NV | 167,000 | 18,095 | |
eMemory Technology, Inc. | 18,757 | 1,331 | |
KLA Corp. | 42,500 | 20,613 | |
Marvell Technology, Inc. | 138,000 | 8,250 | |
Monolithic Power Systems, Inc. | 21,093 | 11,395 | |
NVIDIA Corp. | 591,543 | 250,235 | |
NXP Semiconductors NV | 130,154 | 26,640 | |
Silicon Laboratories, Inc. (a) | 4,800 | 757 | |
SiTime Corp. (a) | 136,357 | 16,086 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 569,843 | 57,509 | |
Universal Display Corp. | 123,855 | 17,851 | |
465,026 | |||
Software - 16.7% | |||
Confluent, Inc. (a)(d) | 584,375 | 20,634 | |
HashiCorp, Inc. (a) | 250,310 | 6,553 | |
HubSpot, Inc. (a) | 49,412 | 26,292 | |
Manhattan Associates, Inc. (a) | 118,190 | 23,624 | |
Microsoft Corp. | 1,231,682 | 419,433 | |
NICE Ltd. sponsored ADR (a) | 48,800 | 10,077 | |
Oracle Corp. | 473,197 | 56,353 | |
ServiceNow, Inc. (a) | 20,100 | 11,296 | |
Volue A/S (a) | 674,149 | 1,134 | |
575,396 | |||
Technology Hardware, Storage & Peripherals - 4.2% | |||
Apple, Inc. | 750,681 | 145,610 | |
TOTAL INFORMATION TECHNOLOGY | 1,294,376 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.1% | |||
Aspen Aerogels, Inc. (a)(d) | 274,400 | 2,165 | |
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Brookfield Renewable Partners LP | 47,600 | 1,404 | |
TOTAL COMMON STOCKS (Cost $2,148,299) | 3,375,897 | ||
Convertible Preferred Stocks - 0.2% | |||
Shares | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 75,700 | 321 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
ASAPP, Inc. Series C (a)(b)(c) | 250,763 | 770 | |
MATERIALS - 0.2% | |||
Metals & Mining - 0.2% | |||
Illuminated Holdings, Inc.: | |||
Series C2 (a)(b)(c) | 50,974 | 1,866 | |
Series C3 (a)(b)(c) | 63,718 | 2,333 | |
Series C4 (a)(b)(c) | 18,303 | 670 | |
Series C5 (a)(b)(c) | 36,887 | 1,350 | |
6,219 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $7,411) | 7,310 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
Illuminated Holdings, Inc. 0% (b)(c)(g) (Cost $810) | 810 | 810 | |
Money Market Funds - 1.9% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (h) | 44,128,821 | 44,138 | |
Fidelity Securities Lending Cash Central Fund 5.14% (h)(i) | 22,188,579 | 22,191 | |
TOTAL MONEY MARKET FUNDS (Cost $66,329) | 66,329 | ||
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $2,222,849) | 3,450,346 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 3,012 |
NET ASSETS - 100.0% | 3,453,358 |
(a) | Non-income producing |
(b) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $14,281,000 or 0.4% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $16,743,000 or 0.5% of net assets. |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | Security is perpetual in nature with no stated maturity date. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(i) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ASAPP, Inc. Series C | 4/30/21 | 1,654 |
Blu Investments LLC | 5/21/20 | 6 |
ElevateBio LLC Series C | 3/09/21 | 318 |
Epic Games, Inc. | 3/29/21 | 1,986 |
Evolent Health, Inc. | 3/28/23 | 4,614 |
Illuminated Holdings, Inc. Series C2 | 7/07/20 | 1,274 |
Illuminated Holdings, Inc. Series C3 | 7/07/20 | 1,912 |
Illuminated Holdings, Inc. Series C4 | 1/08/21 | 659 |
Illuminated Holdings, Inc. Series C5 | 6/16/21 | 1,594 |
Illuminated Holdings, Inc. 0% | 6/14/23 | 810 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 6,259 | 751,631 | 713,752 | 1,432 | - | - | 44,138 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.14% | 109,945 | 564,284 | 652,038 | 561 | - | - | 22,191 | 0.1% |
Total | 116,204 | 1,315,915 | 1,365,790 | 1,993 | - | - | 66,329 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 327,279 | 325,699 | - | 1,580 |
Consumer Discretionary | 362,913 | 323,698 | 39,214 | 1 |
Consumer Staples | 52,062 | 52,062 | - | - |
Energy | 140,667 | 94,964 | 45,703 | - |
Financials | 203,712 | 198,835 | 4,877 | - |
Health Care | 565,562 | 554,643 | 10,353 | 566 |
Industrials | 426,078 | 426,078 | - | - |
Information Technology | 1,295,146 | 1,294,376 | - | 770 |
Materials | 8,384 | 2,165 | - | 6,219 |
Utilities | 1,404 | 1,404 | - | - |
Corporate Bonds | 810 | - | - | 810 |
Money Market Funds | 66,329 | 66,329 | - | - |
Total Investments in Securities: | 3,450,346 | 3,340,253 | 100,147 | 9,946 |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $21,501) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,156,520) | $ | 3,384,017 | ||
Fidelity Central Funds (cost $66,329) | 66,329 | |||
Total Investment in Securities (cost $2,222,849) | $ | 3,450,346 | ||
Foreign currency held at value (cost $60) | 60 | |||
Receivable for investments sold | 27,921 | |||
Receivable for fund shares sold | 3,891 | |||
Dividends receivable | 750 | |||
Distributions receivable from Fidelity Central Funds | 210 | |||
Other receivables | 19 | |||
Total assets | 3,483,197 | |||
Liabilities | ||||
Payable to custodian bank | $ | 45 | ||
Payable for investments purchased | 1,370 | |||
Payable for fund shares redeemed | 2,003 | |||
Accrued management fee | 1,413 | |||
Other affiliated payables | 421 | |||
Deferred taxes | 2,304 | |||
Other payables and accrued expenses | 98 | |||
Collateral on securities loaned | 22,185 | |||
Total Liabilities | 29,839 | |||
Net Assets | $ | 3,453,358 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,141,195 | ||
Total accumulated earnings (loss) | 1,312,163 | |||
Net Assets | $ | 3,453,358 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Discovery : | ||||
Net Asset Value , offering price and redemption price per share ($3,073,034 ÷ 61,235 shares) | $ | 50.18 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($380,324 ÷ 7,563 shares) | $ | 50.29 |
Statement of Operations | ||||
Amounts in thousands | Year ended June 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 33,746 | ||
Income from Fidelity Central Funds (including $561 from security lending) | 1,993 | |||
Total Income | 35,739 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 15,345 | ||
Performance adjustment | 3,506 | |||
Transfer agent fees | 3,878 | |||
Accounting fees | 757 | |||
Custodian fees and expenses | 66 | |||
Independent trustees' fees and expenses | 14 | |||
Registration fees | 119 | |||
Audit | 68 | |||
Legal | 6 | |||
Interest | 17 | |||
Miscellaneous | 59 | |||
Total expenses before reductions | 23,835 | |||
Expense reductions | (119) | |||
Total expenses after reductions | 23,716 | |||
Net Investment income (loss) | 12,023 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $432) | 92,888 | |||
Foreign currency transactions | 58 | |||
Total net realized gain (loss) | 92,946 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $511) | 498,361 | |||
Assets and liabilities in foreign currencies | 2 | |||
Total change in net unrealized appreciation (depreciation) | 498,363 | |||
Net gain (loss) | 591,309 | |||
Net increase (decrease) in net assets resulting from operations | $ | 603,332 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended June 30, 2023 | Year ended June 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,023 | $ | (4,098) |
Net realized gain (loss) | 92,946 | 226,790 | ||
Change in net unrealized appreciation (depreciation) | 498,363 | (774,350) | ||
Net increase (decrease) in net assets resulting from operations | 603,332 | (551,658) | ||
Distributions to shareholders | (98,036) | (443,712) | ||
Share transactions - net increase (decrease) | 179,647 | 389,486 | ||
Total increase (decrease) in net assets | 684,943 | (605,884) | ||
Net Assets | ||||
Beginning of period | 2,768,415 | 3,374,299 | ||
End of period | $ | 3,453,358 | $ | 2,768,415 |
Fidelity® Growth Discovery Fund |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 42.65 | $ | 58.70 | $ | 45.22 | $ | 37.74 | $ | 35.75 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .18 | (.07) | (.07) | .03 | .04 | |||||
Net realized and unrealized gain (loss) | 8.84 | (8.48) | 18.53 | 9.15 | 3.51 | |||||
Total from investment operations | 9.02 | (8.55) | 18.46 | 9.18 | 3.55 | |||||
Distributions from net investment income | (.01) | (.13) | (.01) | (.02) | (.06) | |||||
Distributions from net realized gain | (1.48) | (7.37) | (4.98) | (1.68) | (1.50) | |||||
Total distributions | (1.49) | (7.50) | (4.98) C | (1.70) | (1.56) | |||||
Net asset value, end of period | $ | 50.18 | $ | 42.65 | $ | 58.70 | $ | 45.22 | $ | 37.74 |
Total Return D | 21.46% | (17.10)% | 43.10% | 25.33% | 10.33% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .83% | .77% | .79% | .79% | .77% | |||||
Expenses net of fee waivers, if any | .83% | .77% | .79% | .79% | .77% | |||||
Expenses net of all reductions | .83% | .77% | .78% | .78% | .76% | |||||
Net investment income (loss) | .40% | (.14)% | (.12)% | .06% | .11% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 3,073 | $ | 2,339 | $ | 2,944 | $ | 2,094 | $ | 1,707 |
Portfolio turnover rate G | 53% | 45% | 51% | 54% | 49% |
Fidelity® Growth Discovery Fund Class K |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 42.71 | $ | 58.78 | $ | 45.27 | $ | 37.78 | $ | 35.78 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .22 | (.02) | (.02) | .06 | .08 | |||||
Net realized and unrealized gain (loss) | 8.87 | (8.50) | 18.56 | 9.17 | 3.52 | |||||
Total from investment operations | 9.09 | (8.52) | 18.54 | 9.23 | 3.60 | |||||
Distributions from net investment income | (.03) | (.16) | (.03) | (.06) | (.10) | |||||
Distributions from net realized gain | (1.48) | (7.40) | (5.00) | (1.68) | (1.50) | |||||
Total distributions | (1.51) | (7.55) C | (5.03) | (1.74) | (1.60) | |||||
Net asset value, end of period | $ | 50.29 | $ | 42.71 | $ | 58.78 | $ | 45.27 | $ | 37.78 |
Total Return D | 21.61% | (17.04)% | 43.25% | 25.46% | 10.47% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .73% | .68% | .69% | .69% | .66% | |||||
Expenses net of fee waivers, if any | .72% | .68% | .69% | .69% | .66% | |||||
Expenses net of all reductions | .72% | .68% | .69% | .68% | .66% | |||||
Net investment income (loss) | .50% | (.05)% | (.03)% | .17% | .22% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 380 | $ | 430 | $ | 430 | $ | 316 | $ | 366 |
Portfolio turnover rate G | 53% | 45% | 51% | 54% | 49% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Dividend Income | Net Unrealized Appreciation (Depreciation) | |
Fidelity Growth Discovery Fund | $8,426 | $(8,426) |
Gross unrealized appreciation | $1,305,824 |
Gross unrealized depreciation | (82,237) |
Net unrealized appreciation (depreciation) | $1,223,587 |
Tax Cost | $2,226,759 |
Undistributed ordinary income | $1,474 |
Undistributed long-term capital gain | $89,429 |
Net unrealized appreciation (depreciation) on securities and other investments | $1,223,565 |
June 30, 2023 | June 30, 2022 | |
Ordinary Income | $797 | $87,507 |
Long-term Capital Gains | 97,239 | 356,205 |
Total | $98,036 | $443,712 |
Purchases ($) | Sales ($) | |
Fidelity Growth Discovery Fund | 1,561,167 | 1,542,637 |
Amount | % of Class-Level Average Net Assets | |
Growth Discovery | $3,731 | .15 |
Class K | 147 | .04 |
$3,878 |
% of Average Net Assets | |
Fidelity Growth Discovery Fund | .03 |
Amount | |
Fidelity Growth Discovery Fund | $24 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Discovery Fund | Borrower | $16,173 | 3.01% | $15 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Discovery Fund | 65,102 | 118,063 | 5,690 |
Amount | |
Fidelity Growth Discovery Fund | $5 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Discovery Fund | $58 | $31 | $- |
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Discovery Fund | $1,639 | 3.58% | $2 |
Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Growth Discovery Fund | ||
Distributions to shareholders | ||
Growth Discovery | $82,690 | $386,457 |
Class K | 15,346 | 57,255 |
Total | $98,036 | $443,712 |
Shares | Shares | Dollars | Dollars | |
Year ended June 30, 2023 | Year ended June 30, 2022 | Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Growth Discovery Fund | ||||
Growth Discovery | ||||
Shares sold | 14,335 | 7,475 | $631,744 | $391,110 |
Reinvestment of distributions | 1,665 | 6,660 | 76,651 | 364,307 |
Shares redeemed | (9,599) | (9,455) | (418,829) | (488,310) |
Net increase (decrease) | 6,401 | 4,680 | $289,566 | $267,107 |
Class K | ||||
Shares sold | 4,349 | 4,366 | $188,046 | $204,465 |
Reinvestment of distributions | 333 | 1,046 | 15,346 | 57,255 |
Shares redeemed | (7,182) | (2,667) | (313,311) | (139,341) |
Net increase (decrease) | (2,500) | 2,745 | $(109,919) | $122,379 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2023 to June 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During Period- C January 1, 2023 to June 30, 2023 | |||||||
Fidelity® Growth Discovery Fund | ||||||||||
Fidelity® Growth Discovery Fund | .77% | |||||||||
Actual | $ 1,000 | $ 1,229.30 | $ 4.26 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.98 | $ 3.86 | |||||||
Class K | .66% | |||||||||
Actual | $ 1,000 | $ 1,229.90 | $ 3.65 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.52 | $ 3.31 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Average Annual Total Returns | |||
Periods ended June 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Series Large Cap Stock Fund | 23.03% | 11.98% | 11.54% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Series Large Cap Stock Fund on June 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.6 | |
Exxon Mobil Corp. | 7.1 | |
General Electric Co. | 6.6 | |
Wells Fargo & Co. | 5.6 | |
Apple, Inc. | 3.6 | |
Bank of America Corp. | 2.5 | |
The Boeing Co. | 2.2 | |
Comcast Corp. Class A | 2.0 | |
Hess Corp. | 2.0 | |
Visa, Inc. Class A | 1.9 | |
41.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 17.8 | |
Financials | 16.9 | |
Industrials | 16.1 | |
Health Care | 13.5 | |
Energy | 11.1 | |
Communication Services | 9.2 | |
Consumer Staples | 5.0 | |
Consumer Discretionary | 4.0 | |
Materials | 3.3 | |
Real Estate | 0.9 | |
Utilities | 0.7 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.3% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.2% | |||
Diversified Telecommunication Services - 0.4% | |||
Cellnex Telecom SA (a) | 653,100 | 26,361,394 | |
Verizon Communications, Inc. | 710,633 | 26,428,441 | |
52,789,835 | |||
Entertainment - 1.0% | |||
Activision Blizzard, Inc. | 232,322 | 19,584,745 | |
Sea Ltd. ADR (b) | 5,184 | 300,879 | |
The Walt Disney Co. (b) | 820,893 | 73,289,327 | |
Universal Music Group NV | 2,865,781 | 63,637,303 | |
156,812,254 | |||
Interactive Media & Services - 5.2% | |||
Alphabet, Inc.: | |||
Class A (b) | 1,969,325 | 235,728,203 | |
Class C (b) | 1,797,260 | 217,414,542 | |
Match Group, Inc. (b) | 947,800 | 39,665,430 | |
Meta Platforms, Inc. Class A (b) | 909,600 | 261,037,008 | |
Snap, Inc. Class A (b) | 3,194,600 | 37,824,064 | |
791,669,247 | |||
Media - 2.6% | |||
Charter Communications, Inc. Class A (b) | 29,300 | 10,763,941 | |
Comcast Corp. Class A | 7,506,342 | 311,888,510 | |
Interpublic Group of Companies, Inc. | 1,925,670 | 74,292,349 | |
396,944,800 | |||
TOTAL COMMUNICATION SERVICES | 1,398,216,136 | ||
CONSUMER DISCRETIONARY - 4.0% | |||
Automobile Components - 0.3% | |||
BorgWarner, Inc. | 819,562 | 40,084,777 | |
Automobiles - 0.1% | |||
General Motors Co. | 297,400 | 11,467,744 | |
Broadline Retail - 0.2% | |||
Amazon.com, Inc. (b) | 235,500 | 30,699,780 | |
Hotels, Restaurants & Leisure - 1.8% | |||
Amadeus IT Holding SA Class A | 371,500 | 28,255,042 | |
Booking Holdings, Inc. (b) | 57,837 | 156,178,986 | |
Expedia, Inc. (b) | 218,600 | 23,912,654 | |
Marriott International, Inc. Class A | 268,500 | 49,320,765 | |
Starbucks Corp. | 204,100 | 20,218,146 | |
277,885,593 | |||
Household Durables - 0.4% | |||
Mohawk Industries, Inc. (b) | 314,489 | 32,442,685 | |
Sony Group Corp. sponsored ADR | 194,500 | 17,512,780 | |
Whirlpool Corp. | 67,663 | 10,067,578 | |
60,023,043 | |||
Specialty Retail - 1.1% | |||
Lowe's Companies, Inc. | 687,207 | 155,102,620 | |
RH (b) | 53,100 | 17,501,229 | |
172,603,849 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
NIKE, Inc. Class B | 163,100 | 18,001,347 | |
TOTAL CONSUMER DISCRETIONARY | 610,766,133 | ||
CONSUMER STAPLES - 5.0% | |||
Beverages - 1.7% | |||
Diageo PLC sponsored ADR (c) | 361,600 | 62,730,368 | |
Keurig Dr. Pepper, Inc. | 2,089,600 | 65,341,792 | |
The Coca-Cola Co. | 2,190,895 | 131,935,697 | |
260,007,857 | |||
Consumer Staples Distribution & Retail - 1.6% | |||
Costco Wholesale Corp. | 17,500 | 9,421,650 | |
Performance Food Group Co. (b) | 527,100 | 31,752,504 | |
Sysco Corp. | 1,196,000 | 88,743,200 | |
Target Corp. | 208,100 | 27,448,390 | |
U.S. Foods Holding Corp. (b) | 595,600 | 26,206,400 | |
Walmart, Inc. | 394,100 | 61,944,638 | |
245,516,782 | |||
Household Products - 0.0% | |||
Colgate-Palmolive Co. | 17,300 | 1,332,792 | |
Procter & Gamble Co. | 19,800 | 3,004,452 | |
4,337,244 | |||
Personal Care Products - 0.8% | |||
Estee Lauder Companies, Inc. Class A | 98,700 | 19,382,706 | |
Haleon PLC ADR (c) | 7,568,436 | 63,423,494 | |
Kenvue, Inc. | 1,147,400 | 30,314,308 | |
113,120,508 | |||
Tobacco - 0.9% | |||
Altria Group, Inc. | 2,722,659 | 123,336,453 | |
Philip Morris International, Inc. | 129,700 | 12,661,314 | |
135,997,767 | |||
TOTAL CONSUMER STAPLES | 758,980,158 | ||
ENERGY - 11.1% | |||
Energy Equipment & Services - 0.0% | |||
Baker Hughes Co. Class A | 110,100 | 3,480,261 | |
Oil, Gas & Consumable Fuels - 11.1% | |||
Cenovus Energy, Inc. (Canada) | 6,194,581 | 105,210,849 | |
Exxon Mobil Corp. | 10,001,343 | 1,072,644,037 | |
Hess Corp. | 2,218,472 | 301,601,268 | |
Imperial Oil Ltd. | 2,097,700 | 107,327,500 | |
Kosmos Energy Ltd. (b) | 12,435,755 | 74,490,172 | |
MEG Energy Corp. (b) | 1,086,400 | 17,221,664 | |
1,678,495,490 | |||
TOTAL ENERGY | 1,681,975,751 | ||
FINANCIALS - 16.9% | |||
Banks - 11.1% | |||
Bank of America Corp. | 13,119,894 | 376,409,759 | |
JPMorgan Chase & Co. | 1,132,171 | 164,662,950 | |
M&T Bank Corp. | 255,520 | 31,623,155 | |
PNC Financial Services Group, Inc. | 956,821 | 120,511,605 | |
Truist Financial Corp. | 2,485,023 | 75,420,448 | |
U.S. Bancorp | 2,187,919 | 72,288,844 | |
Wells Fargo & Co. | 19,805,537 | 845,300,319 | |
1,686,217,080 | |||
Capital Markets - 2.2% | |||
Charles Schwab Corp. | 29,400 | 1,666,392 | |
CME Group, Inc. | 19,900 | 3,687,271 | |
KKR & Co. LP (c) | 1,510,751 | 84,602,056 | |
Morgan Stanley | 844,424 | 72,113,810 | |
Northern Trust Corp. | 1,519,446 | 112,651,726 | |
Raymond James Financial, Inc. | 373,403 | 38,748,029 | |
State Street Corp. | 159,041 | 11,638,620 | |
325,107,904 | |||
Financial Services - 3.4% | |||
Edenred SA | 897,000 | 60,039,984 | |
Fidelity National Information Services, Inc. | 589,900 | 32,267,530 | |
Global Payments, Inc. | 75,200 | 7,408,704 | |
MasterCard, Inc. Class A | 152,889 | 60,131,244 | |
PayPal Holdings, Inc. (b) | 373,900 | 24,950,347 | |
Radian Group, Inc. | 1,593,108 | 40,273,770 | |
Visa, Inc. Class A | 1,209,893 | 287,325,390 | |
512,396,969 | |||
Insurance - 0.2% | |||
Chubb Ltd. | 140,597 | 27,073,358 | |
TOTAL FINANCIALS | 2,550,795,311 | ||
HEALTH CARE - 13.5% | |||
Biotechnology - 0.5% | |||
Alnylam Pharmaceuticals, Inc. (b) | 169,950 | 32,280,303 | |
Argenx SE ADR (b) | 14,700 | 5,729,031 | |
Insmed, Inc. (b) | 691,829 | 14,597,592 | |
Vaxcyte, Inc. (b) | 407,400 | 20,345,556 | |
Verve Therapeutics, Inc. (b)(c) | 243,400 | 4,563,750 | |
77,516,232 | |||
Health Care Equipment & Supplies - 3.0% | |||
Abbott Laboratories | 68,900 | 7,511,478 | |
Becton, Dickinson & Co. | 144,706 | 38,203,831 | |
Boston Scientific Corp. (b) | 3,798,319 | 205,451,075 | |
GE Healthcare Holding LLC | 2,281,854 | 185,377,819 | |
iRhythm Technologies, Inc. (b) | 1,100 | 114,752 | |
Koninklijke Philips Electronics NV (depository receipt) (NY Reg.) | 772,502 | 16,755,568 | |
453,414,523 | |||
Health Care Providers & Services - 5.6% | |||
Cardinal Health, Inc. | 1,063,558 | 100,580,680 | |
Centene Corp. (b) | 111,200 | 7,500,440 | |
Cigna Group | 656,411 | 184,188,927 | |
CVS Health Corp. | 1,334,352 | 92,243,754 | |
Guardant Health, Inc. (b) | 390,000 | 13,962,000 | |
Humana, Inc. | 45,600 | 20,389,128 | |
McKesson Corp. | 400,821 | 171,274,822 | |
UnitedHealth Group, Inc. | 541,781 | 260,401,620 | |
850,541,371 | |||
Life Sciences Tools & Services - 0.3% | |||
Danaher Corp. | 178,500 | 42,840,000 | |
Pharmaceuticals - 4.1% | |||
Bristol-Myers Squibb Co. | 3,893,460 | 248,986,767 | |
Eli Lilly & Co. | 219,800 | 103,081,804 | |
GSK PLC sponsored ADR | 2,840,028 | 101,218,598 | |
Johnson & Johnson | 924,571 | 153,034,992 | |
Sanofi SA sponsored ADR | 241,600 | 13,022,240 | |
Viatris, Inc. | 185,500 | 1,851,290 | |
621,195,691 | |||
TOTAL HEALTH CARE | 2,045,507,817 | ||
INDUSTRIALS - 15.9% | |||
Aerospace & Defense - 3.7% | |||
Airbus Group NV | 716,700 | 103,621,735 | |
General Dynamics Corp. | 178,160 | 38,331,124 | |
Huntington Ingalls Industries, Inc. | 111,550 | 25,388,780 | |
MTU Aero Engines AG | 51,600 | 13,367,025 | |
Raytheon Technologies Corp. | 212,969 | 20,862,443 | |
Safran SA | 121,500 | 19,040,231 | |
Textron, Inc. | 145,700 | 9,853,691 | |
The Boeing Co. (b) | 1,557,696 | 328,923,087 | |
559,388,116 | |||
Air Freight & Logistics - 1.9% | |||
FedEx Corp. | 342,247 | 84,843,031 | |
United Parcel Service, Inc. Class B | 1,099,456 | 197,077,488 | |
281,920,519 | |||
Building Products - 0.1% | |||
Johnson Controls International PLC | 327,700 | 22,329,478 | |
Commercial Services & Supplies - 0.1% | |||
ACV Auctions, Inc. Class A (b) | 1,176,300 | 20,314,701 | |
Electrical Equipment - 1.3% | |||
Acuity Brands, Inc. | 227,969 | 37,177,185 | |
Hubbell, Inc. Class B | 159,914 | 53,021,086 | |
Regal Rexnord Corp. | 260,900 | 40,152,510 | |
Vertiv Holdings Co. | 2,449,400 | 60,671,638 | |
191,022,419 | |||
Ground Transportation - 0.5% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 1,238,615 | 68,817,449 | |
Industrial Conglomerates - 6.7% | |||
3M Co. | 147,273 | 14,740,555 | |
General Electric Co. | 9,117,464 | 1,001,553,420 | |
1,016,293,975 | |||
Machinery - 1.2% | |||
Chart Industries, Inc. (b)(c) | 167,200 | 26,716,888 | |
Cummins, Inc. | 91,900 | 22,530,204 | |
Flowserve Corp. | 844,685 | 31,380,048 | |
Fortive Corp. | 420,200 | 31,418,354 | |
Nordson Corp. | 13,300 | 3,300,794 | |
Otis Worldwide Corp. | 238,884 | 21,263,065 | |
Stanley Black & Decker, Inc. | 179,800 | 16,849,058 | |
Westinghouse Air Brake Tech Co. | 291,985 | 32,021,995 | |
185,480,406 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 48,500 | 5,363,130 | |
Ryanair Holdings PLC sponsored ADR (b) | 113,400 | 12,542,040 | |
17,905,170 | |||
Professional Services - 0.3% | |||
Equifax, Inc. | 52,400 | 12,329,720 | |
Genpact Ltd. | 554,700 | 20,840,079 | |
Paycom Software, Inc. | 37,300 | 11,982,252 | |
45,152,051 | |||
Trading Companies & Distributors - 0.0% | |||
Beijer Ref AB (B Shares) | 304,799 | 3,888,640 | |
TOTAL INDUSTRIALS | 2,412,512,924 | ||
INFORMATION TECHNOLOGY - 17.8% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Mirion Technologies, Inc. (b)(d) | 1,465,598 | 12,384,303 | |
IT Services - 0.3% | |||
EPAM Systems, Inc. (b) | 37,000 | 8,315,750 | |
IBM Corp. | 140,100 | 18,746,781 | |
Snowflake, Inc. (b) | 7,500 | 1,319,850 | |
Twilio, Inc. Class A (b) | 342,800 | 21,808,936 | |
Unisys Corp. (b) | 143,309 | 570,370 | |
50,761,687 | |||
Semiconductors & Semiconductor Equipment - 3.2% | |||
Analog Devices, Inc. | 154,438 | 30,086,067 | |
Applied Materials, Inc. | 368,402 | 53,248,825 | |
Broadcom, Inc. | 3,600 | 3,122,748 | |
Lam Research Corp. | 70,200 | 45,128,772 | |
Marvell Technology, Inc. | 1,944,785 | 116,259,247 | |
NVIDIA Corp. | 212,300 | 89,807,146 | |
Qualcomm, Inc. | 1,011,231 | 120,376,938 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 330,600 | 33,364,152 | |
491,393,895 | |||
Software - 10.5% | |||
Adobe, Inc. (b) | 276,900 | 135,401,331 | |
Autodesk, Inc. (b) | 173,228 | 35,444,181 | |
DoubleVerify Holdings, Inc. (b) | 224,600 | 8,741,432 | |
Elastic NV (b) | 510,700 | 32,746,084 | |
Intuit, Inc. | 101,200 | 46,368,828 | |
Microsoft Corp. | 3,383,005 | 1,152,048,524 | |
PTC, Inc. (b) | 132,800 | 18,897,440 | |
Salesforce, Inc. (b) | 98,500 | 20,809,110 | |
SAP SE sponsored ADR | 919,746 | 125,830,450 | |
Workday, Inc. Class A (b) | 42,900 | 9,690,681 | |
1,585,978,061 | |||
Technology Hardware, Storage & Peripherals - 3.7% | |||
Apple, Inc. | 2,808,714 | 544,806,255 | |
Samsung Electronics Co. Ltd. | 271,740 | 14,963,805 | |
559,770,060 | |||
TOTAL INFORMATION TECHNOLOGY | 2,700,288,006 | ||
MATERIALS - 3.3% | |||
Chemicals - 0.7% | |||
Axalta Coating Systems Ltd. (b) | 177,800 | 5,833,618 | |
DuPont de Nemours, Inc. | 1,120,900 | 80,077,096 | |
LyondellBasell Industries NV Class A | 217,400 | 19,963,842 | |
Sherwin-Williams Co. | 29,100 | 7,726,632 | |
113,601,188 | |||
Metals & Mining - 2.6% | |||
First Quantum Minerals Ltd. | 6,137,800 | 145,203,738 | |
Freeport-McMoRan, Inc. | 4,682,442 | 187,297,680 | |
Glencore PLC | 10,030,600 | 56,872,358 | |
389,373,776 | |||
TOTAL MATERIALS | 502,974,964 | ||
REAL ESTATE - 0.9% | |||
Equity Real Estate Investment Trusts (REITs) - 0.9% | |||
American Tower Corp. | 199,581 | 38,706,739 | |
Crown Castle International Corp. | 183,800 | 20,942,172 | |
Equinix, Inc. | 4,422 | 3,466,583 | |
Simon Property Group, Inc. | 592,400 | 68,410,352 | |
131,525,846 | |||
UTILITIES - 0.7% | |||
Electric Utilities - 0.7% | |||
Entergy Corp. | 110,700 | 10,778,859 | |
PG&E Corp. (b) | 886,500 | 15,318,720 | |
Southern Co. | 1,014,300 | 71,254,575 | |
97,352,154 | |||
Multi-Utilities - 0.0% | |||
Sempra Energy | 34,380 | 5,005,384 | |
TOTAL UTILITIES | 102,357,538 | ||
TOTAL COMMON STOCKS (Cost $9,160,032,829) | 14,895,900,584 | ||
Preferred Stocks - 0.2% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.0% | |||
COMMUNICATION SERVICES - 0.0% | |||
Interactive Media & Services - 0.0% | |||
Reddit, Inc. Series E (b)(d)(e) | 17,600 | 608,784 | |
Nonconvertible Preferred Stocks - 0.2% | |||
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Embraer SA sponsored ADR (b) | 1,749,000 | 27,039,540 | |
TOTAL PREFERRED STOCKS (Cost $20,367,805) | 27,648,324 | ||
Money Market Funds - 3.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (f) | 456,234,132 | 456,325,379 | |
Fidelity Securities Lending Cash Central Fund 5.14% (f)(g) | 59,606,343 | 59,612,304 | |
TOTAL MONEY MARKET FUNDS (Cost $515,937,683) | 515,937,683 | ||
TOTAL INVESTMENT IN SECURITIES - 101.9% (Cost $9,696,338,317) | 15,439,486,591 |
NET OTHER ASSETS (LIABILITIES) - (1.9)% | (292,143,055) |
NET ASSETS - 100.0% | 15,147,343,536 |
(a) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $26,361,394 or 0.2% of net assets. |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $12,993,087 or 0.1% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Mirion Technologies, Inc. | 6/16/21 | 14,655,980 |
Reddit, Inc. Series E | 5/18/21 | 747,546 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 761,480,223 | 2,906,673,545 | 3,211,828,389 | 20,803,522 | - | - | 456,325,379 | 1.2% |
Fidelity Securities Lending Cash Central Fund 5.14% | 21,387,036 | 1,060,837,805 | 1,022,612,537 | 616,323 | - | - | 59,612,304 | 0.2% |
Total | 782,867,259 | 3,967,511,350 | 4,234,440,926 | 21,419,845 | - | - | 515,937,683 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,398,824,920 | 1,398,216,136 | - | 608,784 |
Consumer Discretionary | 610,766,133 | 610,766,133 | - | - |
Consumer Staples | 758,980,158 | 758,980,158 | - | - |
Energy | 1,681,975,751 | 1,681,975,751 | - | - |
Financials | 2,550,795,311 | 2,550,795,311 | - | - |
Health Care | 2,045,507,817 | 2,045,507,817 | - | - |
Industrials | 2,439,552,464 | 2,316,890,498 | 122,661,966 | - |
Information Technology | 2,700,288,006 | 2,685,324,201 | 14,963,805 | - |
Materials | 502,974,964 | 446,102,606 | 56,872,358 | - |
Real Estate | 131,525,846 | 131,525,846 | - | - |
Utilities | 102,357,538 | 102,357,538 | - | - |
Money Market Funds | 515,937,683 | 515,937,683 | - | - |
Total Investments in Securities: | 15,439,486,591 | 15,244,379,678 | 194,498,129 | 608,784 |
Statement of Assets and Liabilities | ||||
June 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $59,416,920) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $9,180,400,634) | $ | 14,923,548,908 | ||
Fidelity Central Funds (cost $515,937,683) | 515,937,683 | |||
Total Investment in Securities (cost $9,696,338,317) | $ | 15,439,486,591 | ||
Foreign currency held at value (cost $735,930) | 735,930 | |||
Receivable for investments sold | 26,636,424 | |||
Receivable for fund shares sold | 39,801 | |||
Dividends receivable | 15,294,878 | |||
Distributions receivable from Fidelity Central Funds | 1,616,216 | |||
Total assets | 15,483,809,840 | |||
Liabilities | ||||
Payable for investments purchased | $ | 17,872 | ||
Payable for fund shares redeemed | 276,818,648 | |||
Other payables and accrued expenses | 34,291 | |||
Collateral on securities loaned | 59,595,493 | |||
Total Liabilities | 336,466,304 | |||
Net Assets | $ | 15,147,343,536 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 9,120,544,661 | ||
Total accumulated earnings (loss) | 6,026,798,875 | |||
Net Assets | $ | 15,147,343,536 | ||
Net Asset Value , offering price and redemption price per share ($15,147,343,536 ÷ 801,348,593 shares) | $ | 18.90 |
Statement of Operations | ||||
Year ended June 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 258,158,588 | ||
Income from Fidelity Central Funds (including $616,323 from security lending) | 21,419,845 | |||
Total Income | 279,578,433 | |||
Expenses | ||||
Custodian fees and expenses | $ | 279,037 | ||
Independent trustees' fees and expenses | 69,418 | |||
Total expenses before reductions | 348,455 | |||
Expense reductions | (1,263) | |||
Total expenses after reductions | 347,192 | |||
Net Investment income (loss) | 279,231,241 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 207,675,844 | |||
Foreign currency transactions | 1,356,776 | |||
Total net realized gain (loss) | 209,032,620 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,461,817,032 | |||
Assets and liabilities in foreign currencies | 137,693 | |||
Total change in net unrealized appreciation (depreciation) | 2,461,954,725 | |||
Net gain (loss) | 2,670,987,345 | |||
Net increase (decrease) in net assets resulting from operations | $ | 2,950,218,586 |
Statement of Changes in Net Assets | ||||
Year ended June 30, 2023 | Year ended June 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 279,231,241 | $ | 260,692,749 |
Net realized gain (loss) | 209,032,620 | 899,500,742 | ||
Change in net unrealized appreciation (depreciation) | 2,461,954,725 | (2,398,185,195) | ||
Net increase (decrease) in net assets resulting from operations | 2,950,218,586 | (1,237,991,704) | ||
Distributions to shareholders | (859,194,238) | (1,309,838,257) | ||
Share transactions | ||||
Proceeds from sales of shares | 2,951,775,908 | 2,398,883,246 | ||
Reinvestment of distributions | 859,194,238 | 1,309,838,257 | ||
Cost of shares redeemed | (3,553,138,409) | (3,155,193,754) | ||
Net increase (decrease) in net assets resulting from share transactions | 257,831,737 | 553,527,749 | ||
Total increase (decrease) in net assets | 2,348,856,085 | (1,994,302,212) | ||
Net Assets | ||||
Beginning of period | 12,798,487,451 | 14,792,789,663 | ||
End of period | $ | 15,147,343,536 | $ | 12,798,487,451 |
Other Information | ||||
Shares | ||||
Sold | 174,605,044 | 131,892,724 | ||
Issued in reinvestment of distributions | 51,636,302 | 69,841,877 | ||
Redeemed | (206,693,495) | (166,893,726) | ||
Net increase (decrease) | 19,547,851 | 34,840,875 | ||
Fidelity® Series Large Cap Stock Fund |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.37 | $ | 19.80 | $ | 14.07 | $ | 14.98 | $ | 15.76 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .34 | .34 | .34 | .37 | .42 | |||||
Net realized and unrealized gain (loss) | 3.27 | (2.02) | 6.27 | (.32) | .42 | |||||
Total from investment operations | 3.61 | (1.68) | 6.61 | .05 | .84 | |||||
Distributions from net investment income | (.33) | (.47) | (.37) | (.28) | (.39) | |||||
Distributions from net realized gain | (.76) | (1.28) | (.52) | (.68) | (1.22) | |||||
Total distributions | (1.08) C | (1.75) | (.88) C | (.96) | (1.62) C | |||||
Net asset value, end of period | $ | 18.90 | $ | 16.37 | $ | 19.80 | $ | 14.07 | $ | 14.98 |
Total Return D | 23.03% | (9.44)% | 49.05% | .17% | 5.83% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions G | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any G | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions G | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | 1.98% | 1.84% | 2.04% | 2.58% | 2.80% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 15,147,344 | $ | 12,798,487 | $ | 14,792,790 | $ | 11,937,391 | $ | 14,114,096 |
Portfolio turnover rate H | 12% | 17% | 15% | 28% I | 41% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $6,054,561,994 |
Gross unrealized depreciation | (382,580,622) |
Net unrealized appreciation (depreciation) | $5,671,981,372 |
Tax Cost | $9,767,505,219 |
Undistributed ordinary income | $148,504,768 |
Undistributed long-term capital gain | $206,380,752 |
Net unrealized appreciation (depreciation) on securities and other investments | $5,671,913,357 |
June 30, 2023 | June 30, 2022 | |
Ordinary Income | $262,838,082 | $491,091,246 |
Long-term Capital Gains | 596,356,156 | 818,747,011 |
Total | $859,194,238 | $1,309,838,257 |
Purchases ($) | Sales ($) | |
Fidelity Series Large Cap Stock Fund | 1,946,887,123 | 1,601,077,860 |
Amount | |
Fidelity Series Large Cap Stock Fund | $31,879 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Large Cap Stock Fund | 233,000,525 | 61,095,922 | 14,066,522 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Series Large Cap Stock Fund | $66,586 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2023 to June 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During Period- C January 1, 2023 to June 30, 2023 | |||||||
Fidelity® Series Large Cap Stock Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,143.40 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,024.79 | $- E | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Average Annual Total Returns | |||
Periods ended June 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Fund | 21.06% | 12.79% | 12.77% |
Class K | 21.18% | 12.89% | 12.88% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Fund, a class of the fund, on June 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 11.1 | |
Apple, Inc. | 10.6 | |
Alphabet, Inc. Class A | 7.9 | |
NVIDIA Corp. | 2.8 | |
UnitedHealth Group, Inc. | 2.5 | |
Amazon.com, Inc. | 2.3 | |
Eli Lilly & Co. | 2.1 | |
Costco Wholesale Corp. | 2.1 | |
Broadcom, Inc. | 1.9 | |
Visa, Inc. Class A | 1.8 | |
45.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 39.4 | |
Health Care | 14.4 | |
Communication Services | 11.3 | |
Financials | 10.0 | |
Consumer Discretionary | 8.6 | |
Consumer Staples | 5.1 | |
Industrials | 3.7 | |
Energy | 3.5 | |
Utilities | 1.0 | |
Materials | 0.4 | |
Real Estate | 0.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.4% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 11.3% | |||
Entertainment - 0.3% | |||
Activision Blizzard, Inc. | 261,000 | 22,002 | |
Interactive Media & Services - 10.3% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,194,200 | 502,046 | |
Class C (a) | 430,000 | 52,017 | |
Meta Platforms, Inc. Class A (a) | 347,700 | 99,783 | |
653,846 | |||
Media - 0.7% | |||
Comcast Corp. Class A | 1,000,000 | 41,550 | |
TOTAL COMMUNICATION SERVICES | 717,398 | ||
CONSUMER DISCRETIONARY - 8.6% | |||
Broadline Retail - 2.3% | |||
Amazon.com, Inc. (a) | 1,140,000 | 148,610 | |
Distributors - 0.2% | |||
Genuine Parts Co. | 72,794 | 12,319 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (a) | 20,400 | 2,614 | |
Cava Group, Inc. | 13,900 | 569 | |
McDonald's Corp. | 246,200 | 73,469 | |
76,652 | |||
Household Durables - 0.5% | |||
NVR, Inc. (a) | 2,570 | 16,321 | |
PulteGroup, Inc. | 205,155 | 15,936 | |
32,257 | |||
Specialty Retail - 4.4% | |||
AutoZone, Inc. (a) | 24,600 | 61,337 | |
Lowe's Companies, Inc. | 243,400 | 54,935 | |
O'Reilly Automotive, Inc. (a) | 66,400 | 63,432 | |
The Home Depot, Inc. | 300,200 | 93,254 | |
Tractor Supply Co. | 16,100 | 3,560 | |
276,518 | |||
TOTAL CONSUMER DISCRETIONARY | 546,356 | ||
CONSUMER STAPLES - 5.1% | |||
Consumer Staples Distribution & Retail - 2.7% | |||
Costco Wholesale Corp. | 240,300 | 129,373 | |
Dollar General Corp. | 196,100 | 33,294 | |
Walmart, Inc. | 45,700 | 7,183 | |
169,850 | |||
Food Products - 0.4% | |||
Lamb Weston Holdings, Inc. | 250,000 | 28,738 | |
Household Products - 1.5% | |||
Procter & Gamble Co. | 615,000 | 93,320 | |
Personal Care Products - 0.5% | |||
Estee Lauder Companies, Inc. Class A | 138,700 | 27,238 | |
Kenvue, Inc. | 126,700 | 3,347 | |
30,585 | |||
TOTAL CONSUMER STAPLES | 322,493 | ||
ENERGY - 3.5% | |||
Oil, Gas & Consumable Fuels - 3.5% | |||
Antero Resources Corp. (a) | 4,300 | 99 | |
Cheniere Energy, Inc. | 80,000 | 12,189 | |
Chevron Corp. | 185,000 | 29,110 | |
Exxon Mobil Corp. | 680,000 | 72,930 | |
Marathon Petroleum Corp. | 316,000 | 36,846 | |
Occidental Petroleum Corp. | 150,000 | 8,820 | |
PDC Energy, Inc. | 455,800 | 32,426 | |
Valero Energy Corp. | 257,208 | 30,170 | |
222,590 | |||
FINANCIALS - 10.0% | |||
Banks - 1.7% | |||
JPMorgan Chase & Co. | 730,000 | 106,171 | |
Capital Markets - 3.8% | |||
Ameriprise Financial, Inc. | 121,521 | 40,364 | |
Morgan Stanley | 557,000 | 47,568 | |
MSCI, Inc. | 186,559 | 87,550 | |
S&P Global, Inc. | 111,000 | 44,499 | |
State Street Corp. | 296,000 | 21,661 | |
T. Rowe Price Group, Inc. | 28,100 | 3,148 | |
244,790 | |||
Financial Services - 3.3% | |||
Adyen BV (a)(b) | 2,400 | 4,156 | |
MasterCard, Inc. Class A | 232,300 | 91,364 | |
PayPal Holdings, Inc. (a) | 40,000 | 2,669 | |
Visa, Inc. Class A | 470,000 | 111,616 | |
209,805 | |||
Insurance - 1.2% | |||
Arthur J. Gallagher & Co. | 303,600 | 66,661 | |
Hartford Financial Services Group, Inc. | 4,729 | 341 | |
Progressive Corp. | 57,200 | 7,572 | |
74,574 | |||
TOTAL FINANCIALS | 635,340 | ||
HEALTH CARE - 14.4% | |||
Biotechnology - 2.8% | |||
Gilead Sciences, Inc. | 300,000 | 23,121 | |
Moderna, Inc. (a) | 350,804 | 42,623 | |
Regeneron Pharmaceuticals, Inc. (a) | 84,412 | 60,653 | |
Vertex Pharmaceuticals, Inc. (a) | 145,042 | 51,042 | |
177,439 | |||
Health Care Equipment & Supplies - 1.6% | |||
Baxter International, Inc. | 580,000 | 26,425 | |
Edwards Lifesciences Corp. (a) | 336,300 | 31,723 | |
Intuitive Surgical, Inc. (a) | 70,100 | 23,970 | |
ResMed, Inc. | 93,900 | 20,517 | |
102,635 | |||
Health Care Providers & Services - 3.4% | |||
Cardinal Health, Inc. | 81,301 | 7,689 | |
McKesson Corp. | 114,300 | 48,842 | |
UnitedHealth Group, Inc. | 333,000 | 160,053 | |
216,584 | |||
Life Sciences Tools & Services - 3.0% | |||
Danaher Corp. | 385,000 | 92,400 | |
Mettler-Toledo International, Inc. (a) | 6,900 | 9,050 | |
Thermo Fisher Scientific, Inc. | 167,016 | 87,141 | |
188,591 | |||
Pharmaceuticals - 3.6% | |||
Eli Lilly & Co. | 289,900 | 135,957 | |
Merck & Co., Inc. | 641,600 | 74,034 | |
Zoetis, Inc. Class A | 127,900 | 22,026 | |
232,017 | |||
TOTAL HEALTH CARE | 917,266 | ||
INDUSTRIALS - 3.7% | |||
Building Products - 0.5% | |||
Carrier Global Corp. | 720,000 | 35,791 | |
Commercial Services & Supplies - 0.2% | |||
Copart, Inc. (a) | 130,000 | 11,857 | |
Construction & Engineering - 0.2% | |||
Quanta Services, Inc. | 63,815 | 12,536 | |
Electrical Equipment - 0.2% | |||
AMETEK, Inc. | 65,400 | 10,587 | |
Ground Transportation - 0.5% | |||
Old Dominion Freight Lines, Inc. | 93,000 | 34,387 | |
Machinery - 1.7% | |||
Otis Worldwide Corp. | 339,700 | 30,237 | |
PACCAR, Inc. | 260,000 | 21,749 | |
Parker Hannifin Corp. | 139,500 | 54,411 | |
106,397 | |||
Trading Companies & Distributors - 0.4% | |||
W.W. Grainger, Inc. | 34,500 | 27,206 | |
TOTAL INDUSTRIALS | 238,761 | ||
INFORMATION TECHNOLOGY - 39.4% | |||
Communications Equipment - 0.8% | |||
Cisco Systems, Inc. | 958,100 | 49,572 | |
Electronic Equipment, Instruments & Components - 0.8% | |||
Amphenol Corp. Class A | 610,000 | 51,820 | |
IT Services - 0.5% | |||
Accenture PLC Class A | 107,400 | 33,141 | |
Semiconductors & Semiconductor Equipment - 10.5% | |||
Analog Devices, Inc. | 285,400 | 55,599 | |
ASML Holding NV (depository receipt) | 74,200 | 53,776 | |
Broadcom, Inc. | 137,000 | 118,838 | |
KLA Corp. | 170,000 | 82,453 | |
Lam Research Corp. | 106,100 | 68,207 | |
Monolithic Power Systems, Inc. | 56,800 | 30,685 | |
NVIDIA Corp. | 429,200 | 181,560 | |
NXP Semiconductors NV | 27,877 | 5,706 | |
ON Semiconductor Corp. (a) | 646,000 | 61,099 | |
Texas Instruments, Inc. | 50,000 | 9,001 | |
666,924 | |||
Software - 16.2% | |||
Adobe, Inc. (a) | 95,000 | 46,454 | |
Autodesk, Inc. (a) | 85,589 | 17,512 | |
Cadence Design Systems, Inc. (a) | 262,500 | 61,562 | |
Fortinet, Inc. (a) | 1,173,000 | 88,667 | |
Microsoft Corp. | 2,083,000 | 709,343 | |
Roper Technologies, Inc. | 66,000 | 31,733 | |
Salesforce, Inc. (a) | 260,300 | 54,991 | |
Synopsys, Inc. (a) | 50,000 | 21,771 | |
1,032,033 | |||
Technology Hardware, Storage & Peripherals - 10.6% | |||
Apple, Inc. | 3,489,900 | 676,936 | |
TOTAL INFORMATION TECHNOLOGY | 2,510,426 | ||
MATERIALS - 0.4% | |||
Metals & Mining - 0.4% | |||
Steel Dynamics, Inc. | 210,500 | 22,930 | |
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
VICI Properties, Inc. | 14,717 | 463 | |
UTILITIES - 1.0% | |||
Electric Utilities - 1.0% | |||
NextEra Energy, Inc. | 880,900 | 65,363 | |
TOTAL COMMON STOCKS (Cost $2,658,543) | 6,199,386 | ||
Money Market Funds - 2.5% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (c) (Cost $155,556) | 155,526,578 | 155,558 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $2,814,099) | 6,354,944 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 7,807 |
NET ASSETS - 100.0% | 6,362,751 |
(a) | Non-income producing |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $4,156,000 or 0.1% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 102,346 | 2,204,630 | 2,151,418 | 4,713 | - | - | 155,558 | 0.4% |
Fidelity Securities Lending Cash Central Fund 5.14% | - | 70,453 | 70,453 | 4 | - | - | - | 0.0% |
Total | 102,346 | 2,275,083 | 2,221,871 | 4,717 | - | - | 155,558 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 717,398 | 717,398 | - | - |
Consumer Discretionary | 546,356 | 546,356 | - | - |
Consumer Staples | 322,493 | 322,493 | - | - |
Energy | 222,590 | 222,590 | - | - |
Financials | 635,340 | 631,184 | 4,156 | - |
Health Care | 917,266 | 917,266 | - | - |
Industrials | 238,761 | 238,761 | - | - |
Information Technology | 2,510,426 | 2,510,426 | - | - |
Materials | 22,930 | 22,930 | - | - |
Real Estate | 463 | 463 | - | - |
Utilities | 65,363 | 65,363 | - | - |
Money Market Funds | 155,558 | 155,558 | - | - |
Total Investments in Securities: | 6,354,944 | 6,350,788 | 4,156 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2023 | |||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,658,543) | $ | 6,199,386 | ||
Fidelity Central Funds (cost $155,556) | 155,558 | |||
Total Investment in Securities (cost $2,814,099) | $ | 6,354,944 | ||
Cash | 3 | |||
Receivable for investments sold | 20,954 | |||
Receivable for fund shares sold | 1,196 | |||
Dividends receivable | 2,072 | |||
Distributions receivable from Fidelity Central Funds | 614 | |||
Other receivables | 29 | |||
Total assets | 6,379,812 | |||
Liabilities | ||||
Payable for investments purchased | $ | 12,121 | ||
Payable for fund shares redeemed | 2,518 | |||
Accrued management fee | 1,630 | |||
Other affiliated payables | 698 | |||
Other payables and accrued expenses | 94 | |||
Total Liabilities | 17,061 | |||
Net Assets | $ | 6,362,751 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,768,345 | ||
Total accumulated earnings (loss) | 3,594,406 | |||
Net Assets | $ | 6,362,751 | ||
Net Asset Value and Maximum Offering Price | ||||
Fidelity Fund : | ||||
Net Asset Value , offering price and redemption price per share ($6,125,431 ÷ 87,694 shares) | $ | 69.85 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($237,320 ÷ 3,396 shares) | $ | 69.88 |
Statement of Operations | ||||
Amounts in thousands | Year ended June 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 64,263 | ||
Income from Fidelity Central Funds (including $4 from security lending) | 4,717 | |||
Total Income | 68,980 | |||
Expenses | ||||
Management fee | $ | 18,635 | ||
Transfer agent fees | 7,240 | |||
Accounting fees | 995 | |||
Custodian fees and expenses | 55 | |||
Independent trustees' fees and expenses | 30 | |||
Registration fees | 60 | |||
Audit | 74 | |||
Legal | 14 | |||
Miscellaneous | 22 | |||
Total expenses before reductions | 27,125 | |||
Expense reductions | (244) | |||
Total expenses after reductions | 26,881 | |||
Net Investment income (loss) | 42,099 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 218,732 | |||
Redemptions in-kind | 115,227 | |||
Foreign currency transactions | (2) | |||
Total net realized gain (loss) | 333,957 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 800,749 | |||
Assets and liabilities in foreign currencies | 2 | |||
Total change in net unrealized appreciation (depreciation) | 800,751 | |||
Net gain (loss) | 1,134,708 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,176,807 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended June 30, 2023 | Year ended June 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 42,099 | $ | 27,117 |
Net realized gain (loss) | 333,957 | (83,073) | ||
Change in net unrealized appreciation (depreciation) | 800,751 | (1,118,766) | ||
Net increase (decrease) in net assets resulting from operations | 1,176,807 | (1,174,722) | ||
Distributions to shareholders | (38,569) | (363,444) | ||
Share transactions - net increase (decrease) | (917,156) | 510,634 | ||
Total increase (decrease) in net assets | 221,082 | (1,027,532) | ||
Net Assets | ||||
Beginning of period | 6,141,669 | 7,169,201 | ||
End of period | $ | 6,362,751 | $ | 6,141,669 |
Fidelity® Fund |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 58.06 | $ | 72.20 | $ | 54.21 | $ | 47.60 | $ | 46.86 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .44 | .25 | .28 | .39 | .46 | |||||
Net realized and unrealized gain (loss) | 11.74 | (10.75) | 19.40 | 8.96 | 3.26 | |||||
Total from investment operations | 12.18 | (10.50) | 19.68 | 9.35 | 3.72 | |||||
Distributions from net investment income | (.39) | (.21) | (.32) | (.42) | (.44) | |||||
Distributions from net realized gain | - | (3.44) | (1.38) | (2.32) | (2.54) | |||||
Total distributions | (.39) | (3.64) C | (1.69) C | (2.74) | (2.98) | |||||
Net asset value, end of period | $ | 69.85 | $ | 58.06 | $ | 72.20 | $ | 54.21 | $ | 47.60 |
Total Return D | 21.06% | (15.60)% | 36.94% | 20.51% | 8.27% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .46% | .45% | .47% | .48% | .50% | |||||
Expenses net of fee waivers, if any | .46% | .45% | .47% | .48% | .49% | |||||
Expenses net of all reductions | .46% | .45% | .46% | .48% | .49% | |||||
Net investment income (loss) | .71% | .35% | .44% | .79% | 1.01% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 6,125 | $ | 5,468 | $ | 6,758 | $ | 4,402 | $ | 4,019 |
Portfolio turnover rate G | 43% H | 39% | 34% I | 51% | 45% |
Fidelity® Fund Class K |
Years ended June 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 58.07 | $ | 72.21 | $ | 54.20 | $ | 47.60 | $ | 46.86 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .50 | .30 | .33 | .43 | .50 | |||||
Net realized and unrealized gain (loss) | 11.74 | (10.74) | 19.41 | 8.96 | 3.26 | |||||
Total from investment operations | 12.24 | (10.44) | 19.74 | 9.39 | 3.76 | |||||
Distributions from net investment income | (.43) | (.26) | (.35) | (.46) | (.48) | |||||
Distributions from net realized gain | - | (3.44) | (1.38) | (2.32) | (2.54) | |||||
Total distributions | (.43) | (3.70) | (1.73) | (2.79) C | (3.02) | |||||
Net asset value, end of period | $ | 69.88 | $ | 58.07 | $ | 72.21 | $ | 54.20 | $ | 47.60 |
Total Return D | 21.18% | (15.54)% | 37.07% | 20.60% | 8.37% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .38% | .38% | .39% | .40% | .40% | |||||
Expenses net of fee waivers, if any | .37% | .37% | .39% | .40% | .40% | |||||
Expenses net of all reductions | .37% | .37% | .38% | .39% | .40% | |||||
Net investment income (loss) | .79% | .43% | .52% | .87% | 1.10% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 237 | $ | 674 | $ | 411 | $ | 522 | $ | 326 |
Portfolio turnover rate G | 43% H | 39% | 34% I | 51% | 45% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Fund | $29 |
Gross unrealized appreciation | $3,542,391 |
Gross unrealized depreciation | (3,590) |
Net unrealized appreciation (depreciation) | $3,538,801 |
Tax Cost | $2,816,143 |
Undistributed ordinary income | $20,741 |
Undistributed long-term capital gain | $34,849 |
Net unrealized appreciation (depreciation) on securities and other investments | $3,538,817 |
June 30, 2023 | June 30, 2022 | |
Ordinary Income | $38,569 | $21,231 |
Long-term Capital Gains | - | 342,213 |
Total | $38,569 | $363,444 |
Purchases ($) | Sales ($) | |
Fidelity Fund | 2,515,752 | 3,369,143 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Fund | 1,769 | 115,227 | 121,521 | Fidelity Fund |
Amount | % of Class-Level Average Net Assets | |
Fidelity Fund | $7,115 | .13 |
Class K | 125 | .04 |
$7,240 |
% of Average Net Assets | |
Fidelity Fund | .02 |
Amount | |
Fidelity Fund | $ 27 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Fund | 87,559 | 126,557 | 3,642 |
Amount | |
Fidelity Fund | $11 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Fund | $- A | $- | $- |
Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Fund | ||
Distributions to shareholders | ||
Fidelity Fund | $35,624 | $341,399 |
Class K | 2,945 | 22,045 |
Total | $38,569 | $363,444 |
Shares | Shares | Dollars | Dollars | |
Year ended June 30, 2023 | Year ended June 30, 2022 | Year ended June 30, 2023 | Year ended June 30, 2022 | |
Fidelity Fund | ||||
Fidelity Fund | ||||
Shares sold | 4,202 | 6,458 | $272,154 | $468,923 |
Reinvestment of distributions | 522 | 4,251 | 32,237 | 314,473 |
Shares redeemed | (11,210) | (10,130) | (706,252) | (715,852) |
Net increase (decrease) | (6,486) | 579 | $(401,861) | $67,544 |
Class K | ||||
Shares sold | 661 | 11,006 | $40,690 | $775,725 |
Reinvestment of distributions | 47 | 296 | 2,945 | 22,045 |
Shares redeemed | (8,917) | (5,394) | (558,930) | (354,680) |
Net increase (decrease) | (8,209) | 5,908 | $(515,295) | $443,090 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (January 1, 2023 to June 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value January 1, 2023 | Ending Account Value June 30, 2023 | Expenses Paid During Period- C January 1, 2023 to June 30, 2023 | |||||||
Fidelity® Fund | ||||||||||
Fidelity® Fund | .46% | |||||||||
Actual | $ 1,000 | $ 1,197.90 | $ 2.51 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.51 | $ 2.31 | |||||||
Class K | .38% | |||||||||
Actual | $ 1,000 | $ 1,198.40 | $ 2.07 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.91 | $ 1.91 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Item 2.
Code of Ethics
As of the end of the period, June 30, 2023, Fidelity Hastings Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Fund, Fidelity Growth Discovery Fund, Fidelity Mega Cap Stock Fund and Fidelity Series Large Cap Stock Fund (the “Funds”):
Services Billed by PwC
June 30, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Fund | $48,900 | $4,200 | $10,900 | $1,400 |
Fidelity Growth Discovery Fund | $36,800 | $3,300 | $12,600 | $1,100 |
Fidelity Mega Cap Stock Fund | $44,400 | $3,900 | $17,900 | $1,300 |
Fidelity Series Large Cap Stock Fund | $41,600 | $3,700 | $16,600 | $1,200 |
June 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Fund | $49,600 | $4,500 | $10,400 | $1,500 |
Fidelity Growth Discovery Fund | $35,100 | $3,400 | $9,100 | $1,100 |
Fidelity Mega Cap Stock Fund | $42,200 | $3,900 | $8,500 | $1,300 |
Fidelity Series Large Cap Stock Fund | $38,700 | $3,600 | $8,300 | $1,200 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by PwC
June 30, 2023A | June 30, 2022A | |
Audit-Related Fees | $8,284,200 | $7,914,600 |
Tax Fees | $1,000 | $353,200 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | June 30, 2023A | June 30, 2022A |
PwC | $13,665,900 | $13,342,000 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by PwC to Fund Service Providers to be compatible with maintaining the independence of PwC in its(their) audit of the Fund(s), taking into account representations from PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal
years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Hastings Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | August 22, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | August 22, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | August 22, 2023 |