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 811-01400
Fidelity Contrafund
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 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: | December 31 |
Date of reporting period: | June 30, 2023 |
Item 1.
Reports to Stockholders
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Contents
Top Holdings (% of Fund's net assets) | ||
Meta Platforms, Inc. Class A | 8.4 | |
Microsoft Corp. | 7.4 | |
Alphabet, Inc. Class A | 5.4 | |
Berkshire Hathaway, Inc. Class A | 4.9 | |
Amazon.com, Inc. | 4.3 | |
Apple, Inc. | 4.3 | |
NVIDIA Corp. | 4.1 | |
UnitedHealth Group, Inc. | 2.9 | |
Eli Lilly & Co. | 2.6 | |
Netflix, Inc. | 1.9 | |
46.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 24.9 | |
Communication Services | 17.0 | |
Health Care | 13.8 | |
Financials | 12.4 | |
Consumer Discretionary | 10.1 | |
Industrials | 9.1 | |
Energy | 5.1 | |
Materials | 3.7 | |
Consumer Staples | 2.3 | |
Utilities | 0.7 | |
Real Estate | 0.0 | |
Asset Allocation (% of Fund's net assets) |
![]() |
Common Stocks - 97.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 16.8% | |||
Entertainment - 2.5% | |||
Activision Blizzard, Inc. | 451,100 | 38,028 | |
Liberty Media Corp. Liberty Formula One Series C (a) | 416,276 | 31,337 | |
Netflix, Inc. (a) | 725,190 | 319,439 | |
Sea Ltd. ADR (a) | 263,700 | 15,305 | |
The Walt Disney Co. (a) | 8,400 | 750 | |
Universal Music Group NV | 815,932 | 18,119 | |
422,978 | |||
Interactive Media & Services - 13.9% | |||
Alphabet, Inc.: | |||
Class A (a) | 7,670,220 | 918,125 | |
Class C (a) | 22,900 | 2,770 | |
Bumble, Inc. (a) | 240,284 | 4,032 | |
Epic Games, Inc. (a)(b)(c) | 23,900 | 16,825 | |
Meta Platforms, Inc. Class A (a) | 4,916,816 | 1,411,029 | |
2,352,781 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 24,200 | 1,006 | |
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. (a) | 489,600 | 68,005 | |
TOTAL COMMUNICATION SERVICES | 2,844,770 | ||
CONSUMER DISCRETIONARY - 10.1% | |||
Automobiles - 0.3% | |||
BYD Co. Ltd. (H Shares) | 124,500 | 3,992 | |
General Motors Co. | 87,640 | 3,379 | |
Harley-Davidson, Inc. | 46,900 | 1,651 | |
Hyundai Motor Co. Ltd. | 77,337 | 12,165 | |
Rad Power Bikes, Inc. (a)(b)(c) | 474,452 | 1,058 | |
Rivian Automotive, Inc. (a) | 26,456 | 441 | |
Tesla, Inc. (a) | 88,052 | 23,049 | |
Toyota Motor Corp. | 541,702 | 8,706 | |
54,441 | |||
Broadline Retail - 4.5% | |||
Amazon.com, Inc. (a) | 5,633,200 | 734,344 | |
Coupang, Inc. Class A (a) | 902,565 | 15,705 | |
Dollarama, Inc. | 63,672 | 4,312 | |
Global-e Online Ltd. (a) | 143,500 | 5,875 | |
MercadoLibre, Inc. (a) | 6,000 | 7,108 | |
767,344 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 2,800 | 400 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (a) | 310,696 | 39,819 | |
Booking Holdings, Inc. (a) | 3,000 | 8,101 | |
Caesars Entertainment, Inc. (a) | 270,000 | 13,762 | |
Cava Group, Inc. | 37,400 | 1,532 | |
Chipotle Mexican Grill, Inc. (a) | 8,427 | 18,025 | |
Churchill Downs, Inc. | 17,200 | 2,394 | |
Deliveroo PLC Class A (a)(d) | 3,535,620 | 5,141 | |
Evolution AB (d) | 12,200 | 1,545 | |
Hilton Worldwide Holdings, Inc. | 527,468 | 76,773 | |
Hyatt Hotels Corp. Class A | 12,900 | 1,478 | |
Las Vegas Sands Corp. (a) | 31,200 | 1,810 | |
Marriott International, Inc. Class A | 5,200 | 955 | |
McDonald's Corp. | 41,200 | 12,294 | |
Restaurant Brands International, Inc. | 45,100 | 3,497 | |
Starbucks Corp. | 10,100 | 1,001 | |
Sweetgreen, Inc. Class A (a) | 247,700 | 3,176 | |
Zomato Ltd. (a) | 2,766,561 | 2,538 | |
193,841 | |||
Household Durables - 0.3% | |||
Blu Investments LLC (a)(b)(c) | 98,215,581 | 30 | |
D.R. Horton, Inc. | 158,675 | 19,309 | |
Lennar Corp. Class A | 264,318 | 33,122 | |
PulteGroup, Inc. | 3,200 | 249 | |
52,710 | |||
Leisure Products - 0.0% | |||
Bandai Namco Holdings, Inc. | 30,900 | 716 | |
Specialty Retail - 2.7% | |||
Academy Sports & Outdoors, Inc. | 593,806 | 32,095 | |
Auto1 Group SE (a)(d) | 51,600 | 479 | |
AutoZone, Inc. (a) | 2,650 | 6,607 | |
Dick's Sporting Goods, Inc. | 320,045 | 42,307 | |
Fanatics, Inc. Class A (a)(b)(c) | 372,921 | 28,640 | |
Fast Retailing Co. Ltd. | 12,300 | 3,155 | |
Floor & Decor Holdings, Inc. Class A (a)(e) | 217,500 | 22,611 | |
FSN E-Commerce Ventures Private Ltd. | 10,674 | 19 | |
Lowe's Companies, Inc. | 387,500 | 87,459 | |
O'Reilly Automotive, Inc. (a) | 44,271 | 42,292 | |
The Home Depot, Inc. | 220,413 | 68,469 | |
TJX Companies, Inc. | 723,403 | 61,337 | |
Ulta Beauty, Inc. (a) | 49,600 | 23,342 | |
Wayfair LLC Class A (a) | 96,078 | 6,246 | |
Williams-Sonoma, Inc. | 246,932 | 30,901 | |
455,959 | |||
Textiles, Apparel & Luxury Goods - 1.1% | |||
Brunello Cucinelli SpA | 753,200 | 66,244 | |
China Hongxing Sports Ltd. (a)(c) | 5,977,800 | 0 | |
Deckers Outdoor Corp. (a) | 20,982 | 11,071 | |
Dr. Martens Ltd. | 96,532 | 150 | |
lululemon athletica, Inc. (a) | 14,144 | 5,354 | |
LVMH Moet Hennessy Louis Vuitton SE | 32,800 | 30,928 | |
NIKE, Inc. Class B | 91,803 | 10,132 | |
On Holding AG (a) | 597,100 | 19,704 | |
Ralph Lauren Corp. (e) | 61,500 | 7,583 | |
Samsonite International SA (a)(d) | 4,331,100 | 12,215 | |
Tapestry, Inc. | 511,229 | 21,881 | |
185,262 | |||
TOTAL CONSUMER DISCRETIONARY | 1,710,673 | ||
CONSUMER STAPLES - 2.3% | |||
Beverages - 1.1% | |||
Anheuser-Busch InBev SA NV | 101,524 | 5,754 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 17,400 | 4,283 | |
Diageo PLC | 49,885 | 2,145 | |
PepsiCo, Inc. | 246,460 | 45,649 | |
The Coca-Cola Co. | 1,936,818 | 116,635 | |
174,466 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 167,500 | 8,589 | |
BJ's Wholesale Club Holdings, Inc. (a) | 107,200 | 6,755 | |
Casey's General Stores, Inc. | 28,800 | 7,024 | |
Costco Wholesale Corp. | 179,600 | 96,693 | |
Dollar Tree, Inc. (a) | 132,300 | 18,985 | |
138,046 | |||
Food Products - 0.1% | |||
Lamb Weston Holdings, Inc. | 24,900 | 2,862 | |
Mondelez International, Inc. | 223,800 | 16,324 | |
19,186 | |||
Household Products - 0.2% | |||
Procter & Gamble Co. | 233,900 | 35,492 | |
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 144,700 | 3,823 | |
L'Oreal SA (a) | 29,812 | 13,907 | |
L'Oreal SA | 1,300 | 606 | |
Olaplex Holdings, Inc. (a) | 561,746 | 2,090 | |
20,426 | |||
TOTAL CONSUMER STAPLES | 387,616 | ||
ENERGY - 5.0% | |||
Energy Equipment & Services - 0.0% | |||
Nextier Oilfield Solutions, Inc. (a) | 606,900 | 5,426 | |
Noble Corp. PLC | 4,432 | 183 | |
5,609 | |||
Oil, Gas & Consumable Fuels - 5.0% | |||
Antero Resources Corp. (a) | 542,400 | 12,491 | |
Birchcliff Energy Ltd. (e) | 169,400 | 1,003 | |
Canadian Natural Resources Ltd. | 1,130,888 | 63,581 | |
Cenovus Energy, Inc. (e) | 687,700 | 11,677 | |
Cheniere Energy, Inc. | 697,217 | 106,228 | |
Chevron Corp. | 265,705 | 41,809 | |
ConocoPhillips Co. | 657,011 | 68,073 | |
Diamondback Energy, Inc. | 5,943 | 781 | |
EOG Resources, Inc. | 258,816 | 29,619 | |
Exxon Mobil Corp. | 2,201,007 | 236,058 | |
GoviEx Uranium, Inc. (a) | 642,355 | 63 | |
GoviEx Uranium, Inc. (a)(d) | 23,200 | 2 | |
GoviEx Uranium, Inc. Class A (a)(d) | 2,625,135 | 258 | |
Hess Corp. | 1,185,390 | 161,154 | |
Marathon Petroleum Corp. | 22,600 | 2,635 | |
Occidental Petroleum Corp. | 604,361 | 35,536 | |
Ovintiv, Inc. | 122,600 | 4,667 | |
Pioneer Natural Resources Co. | 47,565 | 9,855 | |
PrairieSky Royalty Ltd. | 55,400 | 969 | |
Reliance Industries Ltd. | 243,531 | 7,589 | |
Suncor Energy, Inc. | 420,900 | 12,347 | |
Tourmaline Oil Corp. | 54,500 | 2,568 | |
Valero Energy Corp. | 231,200 | 27,120 | |
836,083 | |||
TOTAL ENERGY | 841,692 | ||
FINANCIALS - 12.3% | |||
Banks - 2.7% | |||
AIB Group PLC | 344,600 | 1,448 | |
Banco Santander SA (Spain) | 1,348,100 | 4,991 | |
Bank of America Corp. | 3,685,865 | 105,747 | |
Bank of Ireland Group PLC | 497,200 | 4,741 | |
East West Bancorp, Inc. | 75,700 | 3,996 | |
First Citizens Bancshares, Inc. | 2,200 | 2,824 | |
HDFC Bank Ltd. sponsored ADR | 643,371 | 44,843 | |
JPMorgan Chase & Co. | 501,159 | 72,889 | |
Nu Holdings Ltd. (a) | 1,060,866 | 8,370 | |
Royal Bank of Canada | 514,460 | 49,133 | |
Starling Bank Ltd. Series D (a)(b)(c) | 3,787,848 | 14,047 | |
Wells Fargo & Co. | 3,544,016 | 151,259 | |
464,288 | |||
Capital Markets - 0.5% | |||
BlackRock, Inc. Class A | 790 | 546 | |
Brookfield Asset Management Ltd. Class A | 5,622 | 184 | |
Brookfield Corp. (Canada) Class A | 37,400 | 1,259 | |
Goldman Sachs Group, Inc. | 1,704 | 550 | |
Morgan Stanley | 492,747 | 42,081 | |
MSCI, Inc. | 35,419 | 16,622 | |
TulCo LLC (a)(b)(c)(f) | 17,377 | 15,123 | |
76,365 | |||
Consumer Finance - 0.2% | |||
American Express Co. | 163,808 | 28,535 | |
Capital One Financial Corp. | 33,900 | 3,708 | |
32,243 | |||
Financial Services - 6.5% | |||
Adyen BV (a)(d) | 844 | 1,462 | |
Berkshire Hathaway, Inc. Class A (a) | 1,588 | 822,282 | |
Dlocal Ltd. (a) | 633,300 | 7,729 | |
Fiserv, Inc. (a) | 106,000 | 13,372 | |
MasterCard, Inc. Class A | 475,700 | 187,093 | |
Remitly Global, Inc. (a) | 202,100 | 3,804 | |
Visa, Inc. Class A | 287,300 | 68,228 | |
1,103,970 | |||
Insurance - 2.4% | |||
American International Group, Inc. | 537,226 | 30,912 | |
Aon PLC | 8,770 | 3,027 | |
Arthur J. Gallagher & Co. | 294,400 | 64,641 | |
Brookfield Asset Management Reinsurance Partners Ltd. | 889 | 30 | |
Chubb Ltd. | 513,307 | 98,842 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 45,667 | 34,206 | |
Hartford Financial Services Group, Inc. | 79,153 | 5,701 | |
Hiscox Ltd. | 2,665,843 | 36,937 | |
Intact Financial Corp. | 110,374 | 17,042 | |
Marsh & McLennan Companies, Inc. | 81,137 | 15,260 | |
Progressive Corp. | 452,010 | 59,833 | |
The Travelers Companies, Inc. | 224,838 | 39,045 | |
405,476 | |||
TOTAL FINANCIALS | 2,082,342 | ||
HEALTH CARE - 13.7% | |||
Biotechnology - 3.2% | |||
Alnylam Pharmaceuticals, Inc. (a) | 74,522 | 14,155 | |
Argenx SE ADR (a) | 101,785 | 39,669 | |
Arrowhead Pharmaceuticals, Inc. (a) | 28,600 | 1,020 | |
Ascendis Pharma A/S sponsored ADR (a) | 29,200 | 2,606 | |
Biogen, Inc. (a) | 3,000 | 855 | |
Biohaven Ltd. | 4,450 | 106 | |
Exact Sciences Corp. (a) | 23,600 | 2,216 | |
Galapagos NV sponsored ADR (a) | 181,269 | 7,370 | |
Gilead Sciences, Inc. | 363,600 | 28,023 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(c) | 26,062 | 0 | |
Intellia Therapeutics, Inc. (a) | 17,114 | 698 | |
Krystal Biotech, Inc. (a) | 8,300 | 974 | |
Legend Biotech Corp. ADR (a) | 139,700 | 9,643 | |
Light Sciences Oncology, Inc. (a)(c) | 2,708,254 | 0 | |
Moderna, Inc. (a) | 5,700 | 693 | |
Moonlake Immunotherapeutics (a) | 39,000 | 1,989 | |
Nuvalent, Inc. Class A (a) | 46,000 | 1,940 | |
Regeneron Pharmaceuticals, Inc. (a) | 366,699 | 263,488 | |
Roivant Sciences Ltd. (a) | 217,900 | 2,196 | |
Sarepta Therapeutics, Inc. (a) | 9,200 | 1,054 | |
Seagen, Inc. (a) | 5,100 | 982 | |
United Therapeutics Corp. (a) | 75,294 | 16,621 | |
Vertex Pharmaceuticals, Inc. (a) | 426,246 | 150,000 | |
Zai Lab Ltd. (a) | 560,720 | 1,543 | |
547,841 | |||
Health Care Equipment & Supplies - 1.1% | |||
Align Technology, Inc. (a) | 2,800 | 990 | |
Boston Scientific Corp. (a) | 1,250,208 | 67,624 | |
DexCom, Inc. (a) | 24,600 | 3,161 | |
Edwards Lifesciences Corp. (a) | 17,250 | 1,627 | |
Figs, Inc. Class A (a)(e) | 363,500 | 3,006 | |
GE Healthcare Holding LLC | 99,634 | 8,094 | |
I-Pulse, Inc. (a)(b)(c) | 58,562 | 164 | |
Inspire Medical Systems, Inc. (a) | 3,600 | 1,169 | |
Intuitive Surgical, Inc. (a) | 169,051 | 57,805 | |
Lantheus Holdings, Inc. (a) | 10,800 | 906 | |
Penumbra, Inc. (a) | 3,200 | 1,101 | |
Shockwave Medical, Inc. (a) | 7,300 | 2,083 | |
Straumann Holding AG | 25,745 | 4,175 | |
Stryker Corp. | 16,900 | 5,156 | |
Surgical Science Sweden AB (a) | 46,500 | 1,040 | |
TransMedics Group, Inc. (a) | 209,200 | 17,569 | |
175,670 | |||
Health Care Providers & Services - 4.1% | |||
23andMe Holding Co. Class A (a)(e) | 589,099 | 1,031 | |
agilon health, Inc. (a) | 945,500 | 16,395 | |
AmerisourceBergen Corp. | 31,420 | 6,046 | |
Cardinal Health, Inc. | 40,000 | 3,783 | |
Centene Corp. (a) | 574,000 | 38,716 | |
Cigna Group | 387,500 | 108,733 | |
Elevance Health, Inc. | 22,115 | 9,825 | |
HCA Holdings, Inc. | 46,057 | 13,977 | |
Henry Schein, Inc. (a) | 11,200 | 908 | |
P3 Health Partners, Inc. Class A (a) | 193,779 | 579 | |
UnitedHealth Group, Inc. | 1,027,708 | 493,958 | |
693,951 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. (a) | 61,500 | 2,092 | |
Schrodinger, Inc. (a)(e) | 53,761 | 2,684 | |
4,776 | |||
Life Sciences Tools & Services - 0.9% | |||
Danaher Corp. | 458,889 | 110,133 | |
Mettler-Toledo International, Inc. (a) | 14,754 | 19,352 | |
Olink Holding AB ADR (a) | 162,700 | 3,051 | |
Seer, Inc. (a) | 59,354 | 253 | |
Thermo Fisher Scientific, Inc. | 27,408 | 14,300 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 176,934 | 9,542 | |
156,631 | |||
Pharmaceuticals - 4.4% | |||
AstraZeneca PLC: | |||
(United Kingdom) | 270,800 | 38,820 | |
sponsored ADR | 70,800 | 5,067 | |
DICE Therapeutics, Inc. (a) | 83,800 | 3,893 | |
Eli Lilly & Co. | 917,483 | 430,281 | |
Euroapi SASU (a) | 23,468 | 269 | |
Intra-Cellular Therapies, Inc. (a) | 77,017 | 4,877 | |
Johnson & Johnson | 110,928 | 18,361 | |
Merck & Co., Inc. | 765,392 | 88,319 | |
Novo Nordisk A/S Series B | 19,600 | 3,166 | |
Nuvation Bio, Inc. (a) | 212,427 | 382 | |
Roche Holding AG (participation certificate) | 183,833 | 56,155 | |
Royalty Pharma PLC | 897,050 | 27,575 | |
Sanofi SA | 539,800 | 58,113 | |
Structure Therapeutics, Inc. ADR | 63,100 | 2,623 | |
UCB SA | 15,667 | 1,388 | |
Ventyx Biosciences, Inc. (a) | 26,200 | 859 | |
Verona Pharma PLC ADR (a) | 35,300 | 746 | |
Zoetis, Inc. Class A | 16,400 | 2,824 | |
743,718 | |||
TOTAL HEALTH CARE | 2,322,587 | ||
INDUSTRIALS - 7.7% | |||
Aerospace & Defense - 3.2% | |||
BWX Technologies, Inc. | 47,900 | 3,428 | |
Lockheed Martin Corp. | 122,514 | 56,403 | |
Northrop Grumman Corp. | 309,986 | 141,292 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(b)(c) | 2,573,450 | 208,449 | |
Class C (a)(b)(c) | 45,460 | 3,682 | |
The Boeing Co. (a) | 237,800 | 50,214 | |
TransDigm Group, Inc. | 81,962 | 73,288 | |
Woodward, Inc. | 80,700 | 9,596 | |
546,352 | |||
Air Freight & Logistics - 0.4% | |||
Delhivery Private Ltd. (a) | 444,255 | 2,066 | |
GXO Logistics, Inc. (a) | 416,470 | 26,163 | |
United Parcel Service, Inc. Class B | 201,482 | 36,116 | |
Zipline International, Inc. (a)(b)(c) | 74,930 | 3,012 | |
67,357 | |||
Building Products - 0.2% | |||
Carrier Global Corp. | 64,400 | 3,201 | |
Toto Ltd. | 409,376 | 12,378 | |
Trane Technologies PLC | 71,500 | 13,675 | |
29,254 | |||
Commercial Services & Supplies - 0.2% | |||
Cintas Corp. | 33,112 | 16,459 | |
Clean Harbors, Inc. (a) | 73,944 | 12,159 | |
Clean TeQ Water Pty Ltd. (a) | 3,189 | 1 | |
GFL Environmental, Inc. | 30,600 | 1,188 | |
Republic Services, Inc. | 20,600 | 3,155 | |
Waste Connections, Inc. (United States) | 6,800 | 972 | |
33,934 | |||
Construction & Engineering - 0.0% | |||
Bowman Consulting Group Ltd. (a) | 231,800 | 7,390 | |
Larsen & Toubro Ltd. | 35,900 | 1,085 | |
8,475 | |||
Electrical Equipment - 0.7% | |||
AMETEK, Inc. | 6,500 | 1,052 | |
Eaton Corp. PLC | 323,200 | 64,996 | |
Hubbell, Inc. Class B | 68,200 | 22,612 | |
Nextracker, Inc. Class A (e) | 25,600 | 1,019 | |
nVent Electric PLC | 74,125 | 3,830 | |
Prysmian SpA | 25,000 | 1,044 | |
Regal Rexnord Corp. | 130,700 | 20,115 | |
114,668 | |||
Ground Transportation - 0.9% | |||
Canadian Pacific Kansas City Ltd. | 992,664 | 80,177 | |
J.B. Hunt Transport Services, Inc. | 51,456 | 9,315 | |
Old Dominion Freight Lines, Inc. | 55,600 | 20,558 | |
RXO, Inc. | 428,170 | 9,707 | |
Uber Technologies, Inc. (a) | 722,400 | 31,186 | |
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 23,600 | 60 | |
151,003 | |||
Industrial Conglomerates - 0.5% | |||
General Electric Co. | 753,203 | 82,739 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 37,300 | 9,178 | |
Crane Nxt Co. | 8,200 | 463 | |
Deere & Co. | 85,798 | 34,764 | |
Fortive Corp. | 73,200 | 5,473 | |
Indutrade AB | 42,800 | 964 | |
Ingersoll Rand, Inc. | 109,100 | 7,131 | |
PACCAR, Inc. | 395,642 | 33,095 | |
Parker Hannifin Corp. | 99,100 | 38,653 | |
129,721 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 18,000 | 1,990 | |
Ryanair Holdings PLC sponsored ADR (a) | 88,200 | 9,755 | |
11,745 | |||
Professional Services - 0.4% | |||
CACI International, Inc. Class A (a) | 81,000 | 27,608 | |
KBR, Inc. | 336,600 | 21,899 | |
Science Applications International Corp. | 140,400 | 15,792 | |
Thomson Reuters Corp. | 12,798 | 1,728 | |
Verisk Analytics, Inc. | 32,000 | 7,233 | |
74,260 | |||
Trading Companies & Distributors - 0.3% | |||
United Rentals, Inc. | 21,500 | 9,575 | |
W.W. Grainger, Inc. | 43,300 | 34,146 | |
43,721 | |||
TOTAL INDUSTRIALS | 1,293,229 | ||
INFORMATION TECHNOLOGY - 24.8% | |||
Communications Equipment - 0.3% | |||
Arista Networks, Inc. (a) | 257,553 | 41,739 | |
Motorola Solutions, Inc. | 10,900 | 3,197 | |
44,936 | |||
Electronic Equipment, Instruments & Components - 1.1% | |||
Amphenol Corp. Class A | 1,975,438 | 167,813 | |
CDW Corp. | 37,179 | 6,822 | |
Jabil, Inc. | 59,400 | 6,411 | |
181,046 | |||
IT Services - 0.8% | |||
Accenture PLC Class A | 268,411 | 82,826 | |
ASAC II LP (a)(b)(c) | 9,408,021 | 1,581 | |
Cloudflare, Inc. (a) | 800 | 52 | |
Gartner, Inc. (a) | 73,500 | 25,748 | |
MongoDB, Inc. Class A (a) | 13,000 | 5,343 | |
Okta, Inc. (a) | 47,200 | 3,273 | |
Shopify, Inc. Class A (a) | 86,108 | 5,565 | |
X Holdings Corp. Class A (c) | 97,100 | 3,760 | |
128,148 | |||
Semiconductors & Semiconductor Equipment - 7.5% | |||
Advanced Micro Devices, Inc. (a) | 1,086,834 | 123,801 | |
Advantest Corp. | 21,000 | 2,828 | |
AEHR Test Systems (a) | 87,709 | 3,618 | |
Allegro MicroSystems LLC (a) | 73,300 | 3,309 | |
Analog Devices, Inc. | 227,092 | 44,240 | |
Applied Materials, Inc. | 348,800 | 50,416 | |
ASML Holding NV: | |||
(depository receipt) | 5,500 | 3,986 | |
(Netherlands) | 32,900 | 23,863 | |
Broadcom, Inc. | 23,900 | 20,732 | |
First Solar, Inc. (a) | 53,300 | 10,132 | |
Lam Research Corp. | 65,500 | 42,107 | |
Lattice Semiconductor Corp. (a) | 237,705 | 22,836 | |
Marvell Technology, Inc. | 762,400 | 45,576 | |
Microchip Technology, Inc. | 12,300 | 1,102 | |
Monolithic Power Systems, Inc. | 40,732 | 22,005 | |
NVIDIA Corp. | 1,629,686 | 689,390 | |
NXP Semiconductors NV | 194,513 | 39,813 | |
ON Semiconductor Corp. (a) | 552,900 | 52,293 | |
Qualcomm, Inc. | 135,504 | 16,130 | |
SolarEdge Technologies, Inc. (a) | 23,300 | 6,269 | |
Synaptics, Inc. (a) | 15,444 | 1,319 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 522,900 | 52,771 | |
1,278,536 | |||
Software - 10.4% | |||
Adobe, Inc. (a) | 373,956 | 182,861 | |
Agilysys, Inc. (a) | 36,800 | 2,526 | |
ANSYS, Inc. (a) | 2,700 | 892 | |
Autodesk, Inc. (a) | 42,631 | 8,723 | |
Cadence Design Systems, Inc. (a) | 241,957 | 56,744 | |
Check Point Software Technologies Ltd. (a) | 46,023 | 5,781 | |
Clear Secure, Inc. (e) | 189,900 | 4,400 | |
Dynatrace, Inc. (a) | 142,400 | 7,329 | |
Fortinet, Inc. (a) | 298,565 | 22,569 | |
HashiCorp, Inc. (a) | 7,000 | 183 | |
HubSpot, Inc. (a) | 6,800 | 3,618 | |
Intuit, Inc. | 69,962 | 32,056 | |
Magic Leap, Inc.: | |||
Class A (a)(c) | 30,863 | 191 | |
warrants (a)(c) | 46,794 | 290 | |
Microsoft Corp. | 3,690,115 | 1,256,632 | |
Palo Alto Networks, Inc. (a) | 41,800 | 10,680 | |
Roper Technologies, Inc. | 2,200 | 1,058 | |
Salesforce, Inc. (a) | 568,893 | 120,184 | |
Samsara, Inc. (a) | 9,214 | 255 | |
ServiceNow, Inc. (a) | 22,799 | 12,812 | |
Stripe, Inc. Class B (a)(b)(c) | 83,200 | 1,675 | |
Synopsys, Inc. (a) | 34,900 | 15,196 | |
Tanium, Inc. Class B (a)(b)(c) | 1,259,978 | 9,954 | |
Tenable Holdings, Inc. (a) | 168,800 | 7,351 | |
Volue A/S (a) | 365,396 | 615 | |
1,764,575 | |||
Technology Hardware, Storage & Peripherals - 4.7% | |||
Apple, Inc. | 3,775,110 | 732,258 | |
Dell Technologies, Inc. | 22,471 | 1,216 | |
Samsung Electronics Co. Ltd. | 1,252,410 | 68,966 | |
802,440 | |||
TOTAL INFORMATION TECHNOLOGY | 4,199,681 | ||
MATERIALS - 3.7% | |||
Chemicals - 0.6% | |||
Air Products & Chemicals, Inc. | 27,400 | 8,207 | |
CF Industries Holdings, Inc. | 185,600 | 12,884 | |
Corteva, Inc. | 525,800 | 30,128 | |
Linde PLC | 9,000 | 3,430 | |
Sherwin-Williams Co. | 147,269 | 39,103 | |
Westlake Corp. | 70,287 | 8,397 | |
102,149 | |||
Construction Materials - 0.0% | |||
Vulcan Materials Co. | 14,300 | 3,224 | |
Metals & Mining - 3.1% | |||
Agnico Eagle Mines Ltd. (Canada) | 16,800 | 839 | |
B2Gold Corp. | 13,305,579 | 47,407 | |
Barrick Gold Corp. (Canada) | 235,269 | 3,980 | |
Cleveland-Cliffs, Inc. (a) | 334,200 | 5,601 | |
Franco-Nevada Corp. | 1,043,236 | 148,687 | |
Freeport-McMoRan, Inc. | 2,265,600 | 90,624 | |
Glencore PLC | 700,400 | 3,971 | |
Ivanhoe Electric, Inc. | 76,997 | 1,004 | |
Ivanhoe Mines Ltd. (a) | 8,031,618 | 73,359 | |
Lundin Gold, Inc. | 4,100 | 49 | |
Newcrest Mining Ltd. | 55,849 | 996 | |
Newmont Corp. | 115,500 | 4,927 | |
Novagold Resources, Inc. (a) | 3,196,709 | 12,669 | |
Nucor Corp. | 386,525 | 63,382 | |
Orla Mining Ltd. (a) | 1,082,800 | 4,545 | |
POSCO sponsored ADR (e) | 5,275 | 390 | |
Steel Dynamics, Inc. | 301,696 | 32,864 | |
Wheaton Precious Metals Corp. | 706,000 | 30,532 | |
525,826 | |||
TOTAL MATERIALS | 631,199 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Equity Commonwealth | 176,424 | 3,574 | |
Gaming & Leisure Properties | 4,888 | 237 | |
3,811 | |||
UTILITIES - 0.7% | |||
Electric Utilities - 0.7% | |||
Constellation Energy Corp. | 516,293 | 47,267 | |
NextEra Energy, Inc. | 159,700 | 11,850 | |
PG&E Corp. (a) | 2,425,200 | 41,907 | |
Southern Co. | 316,300 | 22,220 | |
123,244 | |||
TOTAL COMMON STOCKS (Cost $7,291,596) | 16,440,844 | ||
Preferred Stocks - 2.0% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 1.8% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 130,945 | 29,573 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 30,200 | 1,045 | |
Series F(a)(b)(c) | 127,549 | 4,412 | |
35,030 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 61,855 | 138 | |
Series C(a)(b)(c) | 243,394 | 543 | |
Series D(a)(b)(c) | 411,659 | 918 | |
1,599 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 2,800 | 861 | |
Textiles, Apparel & Luxury Goods - 0.0% | |||
Bolt Threads, Inc.: | |||
Series D(a)(b)(c) | 1,324,673 | 79 | |
Series E(a)(b)(c) | 627,820 | 44 | |
123 | |||
TOTAL CONSUMER DISCRETIONARY | 2,583 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 8,102 | 734 | |
Series H(a)(b)(c) | 10,223 | 926 | |
1,660 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (a)(b)(c) | 82,543 | 710 | |
TOTAL CONSUMER STAPLES | 2,370 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (a)(b)(c) | 68,639 | 1,651 | |
HEALTH CARE - 0.1% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 594,600 | 2,521 | |
Intarcia Therapeutics, Inc. Series CC (a)(b)(c) | 516,522 | 0 | |
2,521 | |||
Health Care Providers & Services - 0.1% | |||
Lyra Health, Inc.: | |||
Series E(a)(b)(c) | 270,000 | 4,514 | |
Series F(a)(b)(c) | 10,070 | 168 | |
Somatus, Inc. Series E (a)(b)(c) | 2,206 | 2,235 | |
6,917 | |||
TOTAL HEALTH CARE | 9,438 | ||
INDUSTRIALS - 1.4% | |||
Aerospace & Defense - 1.3% | |||
Relativity Space, Inc. Series E (a)(b)(c) | 308,359 | 5,424 | |
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 145,254 | 117,656 | |
Series H(a)(b)(c) | 42,094 | 34,096 | |
Series N(a)(b)(c) | 66,208 | 53,628 | |
210,804 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E(a)(b)(c) | 208,789 | 8,393 | |
Series F(c) | 79,020 | 3,177 | |
11,570 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 52,096 | 5,648 | |
TOTAL INDUSTRIALS | 228,022 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
Moloco, Inc. Series A (b)(c) | 39,638 | 2,378 | |
Nuro, Inc.: | |||
Series C(a)(b)(c) | 491,080 | 3,118 | |
Series D(a)(b)(c) | 94,265 | 599 | |
Stripe, Inc.: | |||
Series H(a)(b)(c) | 34,900 | 703 | |
Series I(b)(c) | 611,900 | 12,318 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 36,600 | 2,159 | |
21,275 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 300,369 | ||
Nonconvertible Preferred Stocks - 0.2% | |||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 953,047 | 13,181 | |
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 615,508 | 14,803 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Magic Leap, Inc. Series AA (a)(c) | 325,855 | 3,741 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 31,725 | ||
TOTAL PREFERRED STOCKS (Cost $201,172) | 332,094 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (b)(c)(h)(i) | 2,280 | 0 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(i) | 2,040 | 2,024 | |
TOTAL PREFERRED SECURITIES (Cost $4,320) | 2,024 | ||
Money Market Funds - 1.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (j) | 182,874,812 | 182,911 | |
Fidelity Securities Lending Cash Central Fund 5.14% (j)(k) | 41,561,794 | 41,566 | |
TOTAL MONEY MARKET FUNDS (Cost $224,477) | 224,477 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $7,721,565) | 16,999,439 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (61,283) |
NET ASSETS - 100.0% | 16,938,156 |
(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 $627,801,000 or 3.7% of net assets. |
(c) | Level 3 security |
(d) | 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 $21,102,000 or 0.1% of net assets. |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Non-income producing - Security is in default. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(k) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ASAC II LP | 10/10/13 | 725 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 5,375 |
Blu Investments LLC | 5/21/20 | 170 |
Bolt Threads, Inc. Series D | 12/13/17 | 21,247 |
Bolt Threads, Inc. Series E | 2/07/20 | 9,657 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 4,973 |
ByteDance Ltd. Series E1 | 11/18/20 | 14,348 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 9,990 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 2,892 |
Discord, Inc. Series I | 9/15/21 | 1,542 |
ElevateBio LLC Series C | 3/09/21 | 2,494 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 13,743 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 12,264 |
GoBrands, Inc. Series G | 3/02/21 | 2,023 |
GoBrands, Inc. Series H | 7/22/21 | 3,972 |
I-Pulse, Inc. | 3/18/10 | 81 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 7,040 |
Intarcia Therapeutics, Inc. 6% | 1/03/20 | 2,280 |
Lyra Health, Inc. Series E | 1/14/21 | 2,472 |
Lyra Health, Inc. Series F | 6/04/21 | 158 |
Moloco, Inc. Series A | 6/26/23 | 2,378 |
Nuro, Inc. Series C | 10/30/20 | 6,411 |
Nuro, Inc. Series D | 10/29/21 | 1,965 |
Rad Power Bikes, Inc. | 1/21/21 | 2,289 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 298 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 1,174 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 3,945 |
Reddit, Inc. Series E | 5/18/21 | 1,283 |
Reddit, Inc. Series F | 8/11/21 | 7,882 |
Relativity Space, Inc. Series E | 5/27/21 | 7,041 |
Somatus, Inc. Series E | 1/31/22 | 1,925 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 2/16/21 | 29,628 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 614 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 11,251 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 5,683 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 17,876 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 7,252 |
Stripe, Inc. Class B | 5/18/21 | 3,339 |
Stripe, Inc. Series H | 3/15/21 | 1,400 |
Stripe, Inc. Series I | 3/20/23 - 5/12/23 | 12,320 |
Tanium, Inc. Class B | 4/21/17 - 9/18/20 | 9,907 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 2,176 |
Tenstorrent, Inc. 0% | 4/23/21 | 2,040 |
TulCo LLC | 8/24/17 | 5,885 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 12/16/22 | 6,613 |
Zipline International, Inc. | 10/12/21 | 2,697 |
Zipline International, Inc. Series E | 12/21/20 | 6,813 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 68,583 | 1,783,339 | 1,669,011 | 5,358 | - | - | 182,911 | 0.5% |
Fidelity Securities Lending Cash Central Fund 5.14% | 52,379 | 370,767 | 381,580 | 50 | - | - | 41,566 | 0.1% |
Total | 120,962 | 2,154,106 | 2,050,591 | 5,408 | - | - | 224,477 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,879,800 | 2,827,945 | - | 51,855 |
Consumer Discretionary | 1,713,256 | 1,618,726 | 62,219 | 32,311 |
Consumer Staples | 389,986 | 365,204 | 22,412 | 2,370 |
Energy | 854,873 | 847,284 | 7,589 | - |
Financials | 2,098,796 | 2,046,719 | 6,453 | 45,624 |
Health Care | 2,332,025 | 2,155,084 | 157,797 | 19,144 |
Industrials | 1,521,251 | 1,062,556 | 15,530 | 443,165 |
Information Technology | 4,224,697 | 4,086,573 | 95,657 | 42,467 |
Materials | 631,199 | 626,232 | 4,967 | - |
Real Estate | 3,811 | 3,811 | - | - |
Utilities | 123,244 | 123,244 | - | - |
Preferred Securities | 2,024 | - | - | 2,024 |
Money Market Funds | 224,477 | 224,477 | - | - |
Total Investments in Securities: | 16,999,439 | 15,987,855 | 372,624 | 638,960 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 412,312 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 27,677 | ||
Cost of Purchases | 3,176 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 443,165 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2023 | $ | 27,677 | |
Other Investments in Securities | |||
Beginning Balance | $ | 199,630 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (18,556) | ||
Cost of Purchases | 14,721 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 195,795 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2023 | $ | (18,556) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $41,012) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $7,497,088) | $ | 16,774,962 | ||
Fidelity Central Funds (cost $224,477) | 224,477 | |||
Total Investment in Securities (cost $7,721,565) | $ | 16,999,439 | ||
Cash | 34 | |||
Restricted cash | 141 | |||
Foreign currency held at value (cost $1,091) | 1,091 | |||
Receivable for investments sold | 7,019 | |||
Receivable for fund shares sold | 17,151 | |||
Dividends receivable | 9,303 | |||
Distributions receivable from Fidelity Central Funds | 954 | |||
Other receivables | 889 | |||
Total assets | 17,036,021 | |||
Liabilities | ||||
Payable for investments purchased | $ | 31,711 | ||
Payable for fund shares redeemed | 13,349 | |||
Accrued management fee | 3,639 | |||
Distribution and service plan fees payable | 2,376 | |||
Other affiliated payables | 2,164 | |||
Other payables and accrued expenses | 3,090 | |||
Collateral on securities loaned | 41,536 | |||
Total Liabilities | 97,865 | |||
Net Assets | $ | 16,938,156 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 7,016,075 | ||
Total accumulated earnings (loss) | 9,922,081 | |||
Net Assets | $ | 16,938,156 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($5,945,580 ÷ 192,693 shares) (a) | $ | 30.86 | ||
Maximum offering price per share (100/94.25 of $30.86) | $ | 32.74 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($1,459,793 ÷ 50,706 shares) (a) | $ | 28.79 | ||
Maximum offering price per share (100/96.50 of $28.79) | $ | 29.83 | ||
Class C : | ||||
Net Asset Value and offering price per share ($682,224 ÷ 29,300 shares) (a) | $ | 23.28 | ||
Class I : | ||||
Net Asset Value , offering price and redemption price per share ($7,453,822 ÷ 231,201 shares) | $ | 32.24 | ||
Class Z : | ||||
Net Asset Value , offering price and redemption price per share ($1,396,737 ÷ 43,126 shares) | $ | 32.39 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Amounts in thousands | Six months ended June 30, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 78,575 | ||
Income from Fidelity Central Funds (including $50 from security lending) | 5,408 | |||
Total Income | 83,983 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 41,293 | ||
Performance adjustment | (22,239) | |||
Transfer agent fees | 11,953 | |||
Distribution and service plan fees | 13,559 | |||
Accounting fees | 699 | |||
Custodian fees and expenses | 122 | |||
Independent trustees' fees and expenses | 56 | |||
Registration fees | 127 | |||
Audit | 75 | |||
Legal | 14 | |||
Miscellaneous | 50 | |||
Total expenses before reductions | 45,709 | |||
Expense reductions | (357) | |||
Total expenses after reductions | 45,352 | |||
Net Investment income (loss) | 38,631 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 731,387 | |||
Foreign currency transactions | (81) | |||
Total net realized gain (loss) | 731,306 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of increase in deferred foreign taxes of $171) | 2,472,497 | |||
Unfunded commitments | 1,477 | |||
Assets and liabilities in foreign currencies | 30 | |||
Total change in net unrealized appreciation (depreciation) | 2,474,004 | |||
Net gain (loss) | 3,205,310 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,243,941 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended June 30, 2023 (Unaudited) | Year ended December 31, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 38,631 | $ | 78,687 |
Net realized gain (loss) | 731,306 | 2,614,201 | ||
Change in net unrealized appreciation (depreciation) | 2,474,004 | (9,619,706) | ||
Net increase (decrease) in net assets resulting from operations | 3,243,941 | (6,926,818) | ||
Distributions to shareholders | (227,200) | (2,142,096) | ||
Share transactions - net increase (decrease) | (923,262) | (2,521,800) | ||
Total increase (decrease) in net assets | 2,093,479 | (11,590,714) | ||
Net Assets | ||||
Beginning of period | 14,844,677 | 26,435,391 | ||
End of period | $ | 16,938,156 | $ | 14,844,677 |
Fidelity Advisor® New Insights Fund Class A |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 25.50 | $ | 40.22 | $ | 36.57 | $ | 32.08 | $ | 26.50 | $ | 31.38 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .06 | .10 | (.16) | (.10) | .06 | .03 | ||||||
Net realized and unrealized gain (loss) | 5.70 | (10.99) | 8.90 | 7.57 | 7.60 | (1.26) | ||||||
Total from investment operations | 5.76 | (10.89) | 8.74 | 7.47 | 7.66 | (1.23) | ||||||
Distributions from net investment income | - C | (.12) | - | - C | (.04) | - | ||||||
Distributions from net realized gain | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Total distributions | (.40) | (3.83) | (5.09) | (2.98) D | (2.08) | (3.65) | ||||||
Net asset value, end of period | $ | 30.86 | $ | 25.50 | $ | 40.22 | $ | 36.57 | $ | 32.08 | $ | 26.50 |
Total Return E,F,G | 22.77% | (27.48)% | 24.30% | 23.64% | 29.15% | (4.42)% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .67% J | .70% | .93% | 1.10% | 1.08% | 1.04% | ||||||
Expenses net of fee waivers, if any | .66% J | .70% | .93% | 1.10% | 1.08% | 1.04% | ||||||
Expenses net of all reductions | .66% J | .70% | .93% | 1.10% | 1.07% | 1.04% | ||||||
Net investment income (loss) | .40% J | .32% | (.40)% | (.30)% | .20% | .08% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 5,946 | $ | 5,101 | $ | 8,124 | $ | 6,753 | $ | 6,156 | $ | 4,747 |
Portfolio turnover rate K | 17% J | 32% L | 29% | 53% | 27% L | 36% |
Fidelity Advisor® New Insights Fund Class M |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.85 | $ | 37.93 | $ | 34.81 | $ | 30.73 | $ | 25.49 | $ | 30.39 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .02 | .02 | (.25) | (.17) | (.01) | (.05) | ||||||
Net realized and unrealized gain (loss) | 5.32 | (10.34) | 8.46 | 7.22 | 7.29 | (1.20) | ||||||
Total from investment operations | 5.34 | (10.32) | 8.21 | 7.05 | 7.28 | (1.25) | ||||||
Distributions from net investment income | - C | (.05) | - | - | - | - | ||||||
Distributions from net realized gain | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Total distributions | (.40) | (3.76) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Net asset value, end of period | $ | 28.79 | $ | 23.85 | $ | 37.93 | $ | 34.81 | $ | 30.73 | $ | 25.49 |
Total Return D,E,F | 22.59% | (27.64)% | 24.00% | 23.33% | 28.79% | (4.64)% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .92% I | .95% | 1.18% | 1.35% | 1.32% | 1.29% | ||||||
Expenses net of fee waivers, if any | .91% I | .94% | 1.18% | 1.35% | 1.32% | 1.29% | ||||||
Expenses net of all reductions | .91% I | .94% | 1.18% | 1.35% | 1.32% | 1.29% | ||||||
Net investment income (loss) | .15% I | .07% | (.65)% | (.54)% | (.05)% | (.17)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 1,460 | $ | 1,254 | $ | 2,027 | $ | 1,856 | $ | 1,844 | $ | 1,638 |
Portfolio turnover rate J | 17% I | 32% K | 29% | 53% | 27% K | 36% |
Fidelity Advisor® New Insights Fund Class C |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 19.41 | $ | 31.89 | $ | 30.09 | $ | 27.03 | $ | 22.73 | $ | 27.63 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.04) | (.11) | (.38) | (.29) | (.15) | (.19) | ||||||
Net realized and unrealized gain (loss) | 4.31 | (8.66) | 7.27 | 6.32 | 6.49 | (1.06) | ||||||
Total from investment operations | 4.27 | (8.77) | 6.89 | 6.03 | 6.34 | (1.25) | ||||||
Distributions from net investment income | - C | - | - | - | - | - | ||||||
Distributions from net realized gain | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Total distributions | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Net asset value, end of period | $ | 23.28 | $ | 19.41 | $ | 31.89 | $ | 30.09 | $ | 27.03 | $ | 22.73 |
Total Return D,E,F | 22.23% | (28.02)% | 23.36% | 22.74% | 28.15% | (5.11)% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | 1.43% I | 1.46% | 1.70% | 1.86% | 1.83% | 1.79% | ||||||
Expenses net of fee waivers, if any | 1.43% I | 1.46% | 1.69% | 1.86% | 1.83% | 1.79% | ||||||
Expenses net of all reductions | 1.43% I | 1.46% | 1.69% | 1.86% | 1.83% | 1.79% | ||||||
Net investment income (loss) | (.36)% I | (.45)% | (1.17)% | (1.05)% | (.55)% | (.67)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 682 | $ | 672 | $ | 1,376 | $ | 1,973 | $ | 2,228 | $ | 2,932 |
Portfolio turnover rate J | 17% I | 32% K | 29% | 53% | 27% K | 36% |
Fidelity Advisor® New Insights Fund Class I |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.60 | $ | 41.73 | $ | 37.69 | $ | 32.90 | $ | 27.14 | $ | 32.03 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .10 | .19 | (.06) | (.01) | .15 | .11 | ||||||
Net realized and unrealized gain (loss) | 5.94 | (11.41) | 9.19 | 7.78 | 7.77 | (1.27) | ||||||
Total from investment operations | 6.04 | (11.22) | 9.13 | 7.77 | 7.92 | (1.16) | ||||||
Distributions from net investment income | - C | (.20) | - | - C | (.12) | (.07) | ||||||
Distributions from net realized gain | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Total distributions | (.40) | (3.91) | (5.09) | (2.98) D | (2.16) | (3.73) D | ||||||
Net asset value, end of period | $ | 32.24 | $ | 26.60 | $ | 41.73 | $ | 37.69 | $ | 32.90 | $ | 27.14 |
Total Return E,F | 22.89% | (27.28)% | 24.62% | 23.96% | 29.42% | (4.14)% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .42% I | .45% | .68% | .85% | .82% | .79% | ||||||
Expenses net of fee waivers, if any | .41% I | .44% | .68% | .85% | .82% | .79% | ||||||
Expenses net of all reductions | .41% I | .44% | .68% | .84% | .82% | .78% | ||||||
Net investment income (loss) | .66% I | .57% | (.15)% | (.04)% | .46% | .33% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 7,454 | $ | 6,585 | $ | 12,335 | $ | 12,219 | $ | 13,870 | $ | 12,581 |
Portfolio turnover rate J | 17% I | 32% K | 29% | 53% | 27% K | 36% |
Fidelity Advisor® New Insights Fund Class Z |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.70 | $ | 41.89 | $ | 37.77 | $ | 32.93 | $ | 27.16 | $ | 32.06 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .11 | .23 | (.01) | .03 | .18 | .15 | ||||||
Net realized and unrealized gain (loss) | 5.98 | (11.47) | 9.22 | 7.79 | 7.79 | (1.28) | ||||||
Total from investment operations | 6.09 | (11.24) | 9.21 | 7.82 | 7.97 | (1.13) | ||||||
Distributions from net investment income | - C | (.24) | - | - C | (.17) | (.12) | ||||||
Distributions from net realized gain | (.40) | (3.71) | (5.09) | (2.97) | (2.04) | (3.65) | ||||||
Total distributions | (.40) | (3.95) | (5.09) | (2.98) D | (2.20) D | (3.77) | ||||||
Net asset value, end of period | $ | 32.39 | $ | 26.70 | $ | 41.89 | $ | 37.77 | $ | 32.93 | $ | 27.16 |
Total Return E,F | 22.99% | (27.21)% | 24.79% | 24.09% | 29.60% | (4.03)% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .30% I | .33% | .56% | .73% | .70% | .66% | ||||||
Expenses net of fee waivers, if any | .29% I | .32% | .56% | .73% | .70% | .66% | ||||||
Expenses net of all reductions | .29% I | .32% | .56% | .72% | .70% | .66% | ||||||
Net investment income (loss) | .77% I | .69% | (.03)% | .08% | .58% | .46% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 1,397 | $ | 1,233 | $ | 2,572 | $ | 2,101 | $ | 2,306 | $ | 1,741 |
Portfolio turnover rate J | 17% I | 32% K | 29% | 53% | 27% K | 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% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $636,936 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 22.0 / 15.0 | Increase |
Enterprise value/Revenue multiple (EV/R) | 0.6 - 43.7 / 9.3 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 14.5 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.17 / $0.15 | Increase | ||
Market approach | Transaction price | $59.45 - $60.00 / $59.74 | Increase | ||
Premium rate | 10.0% | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.0% | Decrease | ||
Exit multiple | 1.8 | Increase | |||
Black scholes | Discount rate | 4.0% - 4.7% / 4.2% | Increase | ||
Volatility | 70.0% - 80.0% / 74.6% | Increase | |||
Term | 2.0 - 5.0 / 3.7 | Increase | |||
Preferred Securities | $2,024 | Recovery value | Recovery value | $0.00 | Increase |
Market approach | Transaction price | $59.45 | Increase | ||
Premium rate | 10.0% | Increase | |||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 70.0% | Increase | |||
Term | 2.0 | Increase |
Fidelity Advisor New Insights Fund | $748 |
Gross unrealized appreciation | $9,483,662 |
Gross unrealized depreciation | (296,904) |
Net unrealized appreciation (depreciation) | $9,186,758 |
Tax cost | $7,812,681 |
$ Amount | % of Net Assets | |
Fidelity Advisor New Insights Fund | 24,806 | .15 |
Purchases ($) | Sales ($) | |
Fidelity Advisor New Insights Fund | 1,317,425 | 2,548,978 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Advisor New Insights Fund | 7,454 | 226,546 | 257,752 | Class I |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | - % | .25% | $6,839 | $76 |
Class M | .25% | .25% | 3,363 | 31 |
Class C | .75% | .25% | 3,357 | 182 |
$13,559 | $289 |
Retained by FDC | |
Class A | $841 |
Class M | 48 |
Class C A | 77 |
$966 |
Amount | % of Class-Level Average Net Assets A | |
Class A | $4,450 | .16 |
Class M | 1,083 | .16 |
Class C | 590 | .18 |
Class I | 5,557 | .16 |
Class Z | 273 | .04 |
$11,953 |
% of Average Net Assets | |
Fidelity Advisor New Insights Fund | .01 |
Amount | |
Fidelity Advisor New Insights Fund | $29 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Advisor New Insights Fund | 49,171 | 298,820 | 171,394 |
Amount | |
Fidelity Advisor New Insights Fund | $16 |
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 Advisor New Insights Fund | $5 | $- A | $- |
Six months ended June 30, 2023 | Year ended December 31, 2022 | |
Fidelity Advisor New Insights Fund | ||
Distributions to shareholders | ||
Class A | $78,682 | $711,262 |
Class M | 20,661 | 180,873 |
Class C | 13,284 | 122,166 |
Class I | 96,510 | 949,674 |
Class Z | 18,063 | 178,121 |
Total | $227,200 | $2,142,096 |
Shares | Shares | Dollars | Dollars | |
Six months ended June 30, 2023 | Year ended December 31, 2022 | Six months ended June 30, 2023 | Year ended December 31, 2022 | |
Fidelity Advisor New Insights Fund | ||||
Class A | ||||
Shares sold | 6,676 | 14,534 | $184,758 | $453,687 |
Reinvestment of distributions | 2,710 | 24,711 | 74,254 | 668,926 |
Shares redeemed | (16,742) | (41,188) | (463,073) | (1,253,113) |
Net increase (decrease) | (7,356) | (1,943) | $(204,061) | $(130,500) |
Class M | ||||
Shares sold | 1,115 | 2,238 | $28,815 | $66,425 |
Reinvestment of distributions | 790 | 6,959 | 20,204 | 176,641 |
Shares redeemed | (3,785) | (10,054) | (98,107) | (289,096) |
Net increase (decrease) | (1,880) | (857) | $(49,088) | $(46,030) |
Class C | ||||
Shares sold | 936 | 2,448 | $19,602 | $60,323 |
Reinvestment of distributions | 630 | 5,756 | 13,071 | 120,314 |
Shares redeemed | (6,901) | (16,733) | (144,232) | (408,395) |
Net increase (decrease) | (5,335) | (8,529) | $(111,559) | $(227,758) |
Class I | ||||
Shares sold | 11,049 | 33,193 | $318,858 | $1,080,944 |
Reinvestment of distributions | 3,100 | 30,686 | 88,670 | 869,015 |
Shares redeemed | (30,533) | (111,868) | (879,368) | (3,533,622) |
Net increase (decrease) | (16,384) | (47,989) | $(471,840) | $(1,583,663) |
Class Z | ||||
Shares sold | 3,024 | 7,855 | $87,573 | $262,400 |
Reinvestment of distributions | 532 | 5,259 | 15,278 | 149,168 |
Shares redeemed | (6,593) | (28,356) | (189,565) | (945,417) |
Net increase (decrease) | (3,037) | (15,242) | $(86,714) | $(533,849) |
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 Advisor® New Insights Fund | ||||||||||
Class A | .66% | |||||||||
Actual | $ 1,000 | $ 1,227.70 | $ 3.65 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.52 | $ 3.31 | |||||||
Class M | .91% | |||||||||
Actual | $ 1,000 | $ 1,225.90 | $ 5.02 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.28 | $ 4.56 | |||||||
Class C | 1.43% | |||||||||
Actual | $ 1,000 | $ 1,222.30 | $ 7.88 | |||||||
Hypothetical- B | $ 1,000 | $ 1,017.70 | $ 7.15 | |||||||
Class I | .41% | |||||||||
Actual | $ 1,000 | $ 1,228.90 | $ 2.27 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.76 | $ 2.06 | |||||||
Class Z | .29% | |||||||||
Actual | $ 1,000 | $ 1,229.90 | $ 1.60 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.36 | $ 1.45 | |||||||
- 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
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![](https://capedge.com/proxy/N-CSRS/0000024238-23-000037/img91628_1.jpg)
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Contents
Top Holdings (% of Fund's net assets) | ||
Meta Platforms, Inc. Class A | 10.2 | |
Berkshire Hathaway, Inc. Class A | 8.2 | |
Microsoft Corp. | 6.6 | |
Apple, Inc. | 5.1 | |
Amazon.com, Inc. | 5.0 | |
NVIDIA Corp. | 4.0 | |
UnitedHealth Group, Inc. | 3.7 | |
Eli Lilly & Co. | 2.6 | |
Alphabet, Inc. Class A | 2.5 | |
Alphabet, Inc. Class C | 2.2 | |
50.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 24.9 | |
Communication Services | 17.6 | |
Financials | 14.9 | |
Health Care | 13.5 | |
Consumer Discretionary | 9.4 | |
Industrials | 5.7 | |
Energy | 4.4 | |
Materials | 2.9 | |
Consumer Staples | 2.7 | |
Utilities | 0.3 | |
Real Estate | 0.0 | |
Asset Allocation (% of Fund's net assets) |
![]() |
Common Stocks - 95.6% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 17.5% | |||
Entertainment - 2.4% | |||
Activision Blizzard, Inc. | 317,710 | 26,782,953 | |
Liberty Media Corp. Liberty Formula One Series C (a) | 853,255 | 64,233,036 | |
Netflix, Inc. (a) | 1,055,179 | 464,795,798 | |
The Walt Disney Co. (a) | 35,928 | 3,207,652 | |
Universal Music Group NV | 1,773,619 | 39,384,842 | |
598,404,281 | |||
Interactive Media & Services - 15.0% | |||
Alphabet, Inc.: | |||
Class A (a) | 5,212,149 | 623,894,235 | |
Class C (a) | 4,443,212 | 537,495,356 | |
Bumble, Inc. (a)(b) | 438,262 | 7,354,036 | |
Epic Games, Inc. (a)(c)(d) | 14,010 | 9,862,480 | |
Meta Platforms, Inc. Class A (a) | 8,798,577 | 2,525,015,615 | |
3,703,621,722 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 59,294 | 2,463,666 | |
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. (a) | 196,130 | 27,242,457 | |
TOTAL COMMUNICATION SERVICES | 4,331,732,126 | ||
CONSUMER DISCRETIONARY - 9.4% | |||
Automobiles - 0.3% | |||
BYD Co. Ltd. (H Shares) | 310,181 | 9,945,848 | |
General Motors Co. | 186,565 | 7,193,946 | |
Harley-Davidson, Inc. | 104,680 | 3,685,783 | |
Hyundai Motor Co. Ltd. | 155,010 | 24,383,676 | |
Rad Power Bikes, Inc. (a)(c)(d) | 331,574 | 739,410 | |
Rivian Automotive, Inc. (a) | 104,766 | 1,745,402 | |
Tesla, Inc. (a) | 35,575 | 9,312,468 | |
Toyota Motor Corp. | 1,011,025 | 16,249,284 | |
73,255,817 | |||
Broadline Retail - 5.3% | |||
Amazon.com, Inc. (a) | 9,507,963 | 1,239,458,057 | |
Coupang, Inc. Class A (a) | 2,297,748 | 39,980,815 | |
Dollarama, Inc. | 131,721 | 8,920,935 | |
MercadoLibre, Inc. (a) | 14,784 | 17,513,126 | |
1,305,872,933 | |||
Hotels, Restaurants & Leisure - 1.1% | |||
Airbnb, Inc. Class A (a) | 856,874 | 109,816,972 | |
Booking Holdings, Inc. (a) | 7,453 | 20,125,559 | |
Cava Group, Inc. (b) | 56,400 | 2,309,580 | |
Chipotle Mexican Grill, Inc. (a) | 15,758 | 33,706,362 | |
Churchill Downs, Inc. | 30,877 | 4,297,152 | |
Deliveroo PLC Class A (a)(e) | 8,895,740 | 12,935,740 | |
Doordash, Inc. (a) | 309 | 23,614 | |
Evolution AB (e) | 27,250 | 3,450,797 | |
Hilton Worldwide Holdings, Inc. | 291,302 | 42,399,006 | |
Hyatt Hotels Corp. Class A (b) | 24,062 | 2,757,024 | |
Las Vegas Sands Corp. (a) | 77,142 | 4,474,236 | |
Marriott International, Inc. Class A | 12,797 | 2,350,681 | |
McDonald's Corp. | 96,851 | 28,901,307 | |
Restaurant Brands International, Inc. | 106,275 | 8,239,672 | |
Starbucks Corp. | 25,300 | 2,506,218 | |
278,293,920 | |||
Household Durables - 0.3% | |||
D.R. Horton, Inc. | 115,528 | 14,058,602 | |
Lennar Corp. Class A | 461,013 | 57,769,539 | |
PulteGroup, Inc. | 4,653 | 361,445 | |
72,189,586 | |||
Leisure Products - 0.0% | |||
Bandai Namco Holdings, Inc. | 44,802 | 1,037,494 | |
Specialty Retail - 2.0% | |||
Academy Sports & Outdoors, Inc. | 818,087 | 44,217,602 | |
AutoZone, Inc. (a) | 9,388 | 23,407,664 | |
Dick's Sporting Goods, Inc. | 600,712 | 79,408,119 | |
Fanatics, Inc. Class A (a)(c)(d) | 332,480 | 25,534,464 | |
Fast Retailing Co. Ltd. | 38,806 | 9,952,761 | |
O'Reilly Automotive, Inc. (a) | 86,864 | 82,981,179 | |
The Home Depot, Inc. | 245,268 | 76,190,052 | |
TJX Companies, Inc. | 364,331 | 30,891,625 | |
Ulta Beauty, Inc. (a) | 110,459 | 51,981,453 | |
Wayfair LLC Class A (a) | 11,402 | 741,244 | |
Williams-Sonoma, Inc. (b) | 500,353 | 62,614,174 | |
487,920,337 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Deckers Outdoor Corp. (a) | 23,298 | 12,293,423 | |
Dr. Martens Ltd. | 216,050 | 335,571 | |
lululemon athletica, Inc. (a) | 16,931 | 6,408,384 | |
NIKE, Inc. Class B | 355,288 | 39,213,137 | |
On Holding AG (a) | 1,401,042 | 46,234,386 | |
Ralph Lauren Corp. (b) | 20,316 | 2,504,963 | |
Tapestry, Inc. | 165,947 | 7,102,532 | |
114,092,396 | |||
TOTAL CONSUMER DISCRETIONARY | 2,332,662,483 | ||
CONSUMER STAPLES - 2.7% | |||
Beverages - 1.0% | |||
Anheuser-Busch InBev SA NV | 219,664 | 12,449,995 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 40,501 | 9,968,511 | |
Diageo PLC | 72,671 | 3,124,199 | |
PepsiCo, Inc. | 626,882 | 116,111,084 | |
The Coca-Cola Co. | 1,732,864 | 104,353,070 | |
246,006,859 | |||
Consumer Staples Distribution & Retail - 1.3% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 362,403 | 18,583,156 | |
Casey's General Stores, Inc. | 63,191 | 15,411,021 | |
Costco Wholesale Corp. | 534,480 | 287,753,342 | |
Walmart, Inc. | 309 | 48,569 | |
321,796,088 | |||
Food Products - 0.2% | |||
Lamb Weston Holdings, Inc. | 60,314 | 6,933,094 | |
Mondelez International, Inc. | 522,591 | 38,117,788 | |
45,050,882 | |||
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 117,879 | 23,149,078 | |
L'Oreal SA | 1,900 | 886,305 | |
L'Oreal SA (a) | 56,282 | 26,254,207 | |
Olaplex Holdings, Inc. (a) | 748,152 | 2,783,125 | |
53,072,715 | |||
TOTAL CONSUMER STAPLES | 665,926,544 | ||
ENERGY - 4.3% | |||
Oil, Gas & Consumable Fuels - 4.3% | |||
Birchcliff Energy Ltd. (b) | 222,518 | 1,316,883 | |
Canadian Natural Resources Ltd. | 1,243,339 | 69,902,917 | |
Cheniere Energy, Inc. | 273,048 | 41,601,593 | |
Chevron Corp. | 730,911 | 115,008,846 | |
ConocoPhillips Co. | 1,623,399 | 168,200,370 | |
Diamondback Energy, Inc. | 51,615 | 6,780,146 | |
EOG Resources, Inc. | 554,505 | 63,457,552 | |
Exxon Mobil Corp. | 2,869,735 | 307,779,079 | |
Hess Corp. | 719,600 | 97,829,620 | |
Marathon Petroleum Corp. | 52,307 | 6,098,996 | |
Occidental Petroleum Corp. (b) | 1,303,384 | 76,638,979 | |
Pioneer Natural Resources Co. | 130,115 | 26,957,226 | |
PrairieSky Royalty Ltd. | 139,600 | 2,440,563 | |
Reliance Industries Ltd. | 77,582 | 2,417,763 | |
Suncor Energy, Inc. | 169,734 | 4,978,949 | |
Tourmaline Oil Corp. (b) | 126,670 | 5,968,478 | |
Valero Energy Corp. | 505,133 | 59,252,101 | |
1,056,630,061 | |||
FINANCIALS - 14.9% | |||
Banks - 2.3% | |||
AIB Group PLC | 774,600 | 3,254,188 | |
Banco Santander SA (Spain) | 3,659,711 | 13,548,755 | |
Bank of America Corp. | 5,425,420 | 155,655,300 | |
Bank of Ireland Group PLC | 1,111,297 | 10,596,112 | |
East West Bancorp, Inc. | 180,423 | 9,524,530 | |
First Citizens Bancshares, Inc. | 7,149 | 9,175,384 | |
JPMorgan Chase & Co. | 1,342,412 | 195,240,401 | |
Nu Holdings Ltd. (a) | 2,221,202 | 17,525,284 | |
Royal Bank of Canada | 1,081,082 | 103,248,533 | |
Starling Bank Ltd. Series D (a)(c)(d) | 4,139,223 | 15,349,895 | |
Wells Fargo & Co. | 888,106 | 37,904,364 | |
571,022,746 | |||
Capital Markets - 0.4% | |||
BlackRock, Inc. Class A | 2,558 | 1,767,936 | |
Brookfield Asset Management Ltd. Class A | 13,030 | 425,301 | |
Brookfield Corp. (Canada) Class A | 91,575 | 3,083,031 | |
Coinbase Global, Inc. (a) | 309 | 22,109 | |
Goldman Sachs Group, Inc. | 5,122 | 1,652,050 | |
Morgan Stanley | 1,088,462 | 92,954,655 | |
MSCI, Inc. | 8,806 | 4,132,568 | |
TulCo LLC (a)(c)(d)(f) | 1,552 | 1,350,706 | |
105,388,356 | |||
Consumer Finance - 0.2% | |||
American Express Co. | 254,579 | 44,347,662 | |
Financial Services - 10.1% | |||
Adyen BV (a)(e) | 4,051 | 7,014,986 | |
Berkshire Hathaway, Inc. Class A (a) | 3,940 | 2,040,171,400 | |
MasterCard, Inc. Class A | 110,665 | 43,524,545 | |
Visa, Inc. Class A | 1,709,041 | 405,863,057 | |
2,496,573,988 | |||
Insurance - 1.9% | |||
American International Group, Inc. | 1,165,063 | 67,037,725 | |
Aon PLC | 21,289 | 7,348,963 | |
Arthur J. Gallagher & Co. | 167,359 | 36,747,016 | |
Brookfield Asset Management Reinsurance Partners Ltd. | 1,943 | 65,737 | |
Chubb Ltd. | 347,339 | 66,883,598 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 40,313 | 30,196,027 | |
Hartford Financial Services Group, Inc. | 124,267 | 8,949,709 | |
Intact Financial Corp. | 192,555 | 29,730,289 | |
Marsh & McLennan Companies, Inc. | 178,299 | 33,534,476 | |
Progressive Corp. | 865,313 | 114,541,482 | |
The Travelers Companies, Inc. | 417,254 | 72,460,330 | |
467,495,352 | |||
TOTAL FINANCIALS | 3,684,828,104 | ||
HEALTH CARE - 13.4% | |||
Biotechnology - 3.8% | |||
Alnylam Pharmaceuticals, Inc. (a) | 128,193 | 24,348,978 | |
Argenx SE ADR (a) | 72,185 | 28,132,660 | |
Arrowhead Pharmaceuticals, Inc. (a) | 72,200 | 2,574,652 | |
Biogen, Inc. (a) | 7,500 | 2,136,375 | |
Biohaven Ltd. | 5,818 | 139,167 | |
Exact Sciences Corp. (a)(b) | 59,116 | 5,550,992 | |
Galapagos NV sponsored ADR (a) | 323,505 | 13,153,713 | |
Gilead Sciences, Inc. | 299,369 | 23,072,369 | |
Intellia Therapeutics, Inc. (a) | 46,601 | 1,900,389 | |
Krystal Biotech, Inc. (a) | 12,213 | 1,433,806 | |
Legend Biotech Corp. ADR (a) | 280,208 | 19,342,758 | |
Moderna, Inc. (a) | 11,186 | 1,359,099 | |
Moonlake Immunotherapeutics (a) | 95,100 | 4,850,100 | |
Nuvalent, Inc. Class A (a) | 61,110 | 2,577,009 | |
Regeneron Pharmaceuticals, Inc. (a) | 653,778 | 469,765,644 | |
Roivant Sciences Ltd. (a) | 418,508 | 4,218,561 | |
Sarepta Therapeutics, Inc. (a) | 22,872 | 2,619,301 | |
Seagen, Inc. (a) | 12,487 | 2,403,248 | |
United Therapeutics Corp. (a) | 139,193 | 30,726,855 | |
Vertex Pharmaceuticals, Inc. (a) | 825,776 | 290,598,832 | |
Zai Lab Ltd. (a) | 878,491 | 2,417,054 | |
933,321,562 | |||
Health Care Equipment & Supplies - 0.9% | |||
Align Technology, Inc. (a) | 10,274 | 3,633,297 | |
Boston Scientific Corp. (a) | 615,656 | 33,300,833 | |
DexCom, Inc. (a) | 57,152 | 7,344,604 | |
Edwards Lifesciences Corp. (a) | 17,110 | 1,613,986 | |
GE Healthcare Holding LLC | 122,578 | 9,958,237 | |
Inspire Medical Systems, Inc. (a) | 12,840 | 4,168,378 | |
Intuitive Surgical, Inc. (a) | 367,888 | 125,795,623 | |
Lantheus Holdings, Inc. (a) | 26,865 | 2,254,511 | |
Penumbra, Inc. (a) | 11,569 | 3,980,430 | |
Shockwave Medical, Inc. (a) | 25,275 | 7,213,738 | |
Straumann Holding AG | 54,319 | 8,808,897 | |
Stryker Corp. | 46,917 | 14,313,908 | |
Surgical Science Sweden AB (a) | 89,200 | 1,994,839 | |
224,381,281 | |||
Health Care Providers & Services - 4.0% | |||
23andMe Holding Co. Class A (a) | 558,254 | 976,945 | |
agilon health, Inc. (a) | 194,065 | 3,365,087 | |
AmerisourceBergen Corp. | 45,075 | 8,673,782 | |
Cardinal Health, Inc. | 86,112 | 8,143,612 | |
Elevance Health, Inc. | 37,078 | 16,473,385 | |
HCA Holdings, Inc. | 101,877 | 30,917,632 | |
Henry Schein, Inc. (a) | 27,695 | 2,246,065 | |
P3 Health Partners, Inc. Class A (a) | 307,680 | 919,963 | |
UnitedHealth Group, Inc. | 1,919,104 | 922,398,147 | |
994,114,618 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. (a)(b) | 140,600 | 4,783,212 | |
Schrodinger, Inc. (a)(b) | 77,891 | 3,888,319 | |
8,671,531 | |||
Life Sciences Tools & Services - 0.6% | |||
Danaher Corp. | 229,362 | 55,046,880 | |
Lonza Group AG | 22 | 13,111 | |
Mettler-Toledo International, Inc. (a) | 44,020 | 57,738,393 | |
Thermo Fisher Scientific, Inc. | 62,801 | 32,766,422 | |
Veterinary Emergency Group LLC Class A (a)(c)(d)(f) | 185,166 | 9,986,002 | |
155,550,808 | |||
Pharmaceuticals - 4.1% | |||
AstraZeneca PLC sponsored ADR | 159,016 | 11,380,775 | |
Bristol-Myers Squibb Co. | 316,240 | 20,223,548 | |
DICE Therapeutics, Inc. (a)(b) | 214,324 | 9,957,493 | |
Eli Lilly & Co. | 1,361,267 | 638,406,998 | |
Intra-Cellular Therapies, Inc. (a) | 134,745 | 8,532,053 | |
Johnson & Johnson | 238,467 | 39,471,058 | |
Merck & Co., Inc. | 1,897,134 | 218,910,292 | |
Novo Nordisk A/S Series B | 47,750 | 7,713,528 | |
Nuvation Bio, Inc. (a) | 2,064,621 | 3,716,318 | |
Royalty Pharma PLC | 1,517,848 | 46,658,648 | |
Structure Therapeutics, Inc. ADR | 91,828 | 3,817,290 | |
Ventyx Biosciences, Inc. (a) | 38,622 | 1,266,802 | |
Verona Pharma PLC ADR (a) | 85,613 | 1,809,859 | |
Zoetis, Inc. Class A | 40,579 | 6,988,110 | |
1,018,852,772 | |||
TOTAL HEALTH CARE | 3,334,892,572 | ||
INDUSTRIALS - 5.4% | |||
Aerospace & Defense - 1.2% | |||
Lockheed Martin Corp. | 309,550 | 142,510,629 | |
Northrop Grumman Corp. | 283,705 | 129,312,739 | |
Space Exploration Technologies Corp. Class A (a)(c)(d) | 73,000 | 5,913,000 | |
TransDigm Group, Inc. | 30,615 | 27,375,015 | |
305,111,383 | |||
Air Freight & Logistics - 0.5% | |||
United Parcel Service, Inc. Class B | 732,124 | 131,233,227 | |
Zipline International, Inc. (a)(c)(d) | 87,466 | 3,516,133 | |
134,749,360 | |||
Building Products - 0.1% | |||
Carrier Global Corp. (b) | 160,700 | 7,988,397 | |
Toto Ltd. | 215,189 | 6,506,543 | |
Trane Technologies PLC | 87,707 | 16,774,841 | |
31,269,781 | |||
Commercial Services & Supplies - 0.2% | |||
Aurora Innovation, Inc. (a) | 330,839 | 972,667 | |
Cintas Corp. | 37,617 | 18,698,658 | |
Clean Harbors, Inc. (a)(b) | 149,648 | 24,606,621 | |
Clean TeQ Water Pty Ltd. (a)(b) | 326,711 | 52,196 | |
GFL Environmental, Inc. | 74,689 | 2,900,171 | |
Republic Services, Inc. | 51,000 | 7,811,670 | |
Waste Connections, Inc. (United States) | 16,615 | 2,374,782 | |
57,416,765 | |||
Construction & Engineering - 0.0% | |||
Larsen & Toubro Ltd. | 88,800 | 2,684,476 | |
Electrical Equipment - 0.5% | |||
AMETEK, Inc. | 15,987 | 2,587,976 | |
Eaton Corp. PLC | 352,515 | 70,890,767 | |
Hubbell, Inc. Class B | 151,726 | 50,306,273 | |
nVent Electric PLC | 167,843 | 8,672,448 | |
Prysmian SpA | 63,000 | 2,631,582 | |
135,089,046 | |||
Ground Transportation - 0.6% | |||
Canadian Pacific Kansas City Ltd. | 743,982 | 60,091,394 | |
J.B. Hunt Transport Services, Inc. | 97,496 | 17,649,701 | |
Old Dominion Freight Lines, Inc. | 119,673 | 44,249,092 | |
Uber Technologies, Inc. (a) | 396,662 | 17,123,899 | |
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 30,800 | 77,897 | |
139,191,983 | |||
Industrial Conglomerates - 0.7% | |||
General Electric Co. | 1,503,742 | 165,186,059 | |
Machinery - 0.9% | |||
Caterpillar, Inc. | 100,322 | 24,684,228 | |
Crane Nxt Co. | 15,917 | 898,355 | |
Deere & Co. | 211,198 | 85,575,318 | |
Fortive Corp. | 173,492 | 12,971,997 | |
Indutrade AB | 95,175 | 2,143,464 | |
PACCAR, Inc. | 888,559 | 74,327,960 | |
Parker Hannifin Corp. | 32,845 | 12,810,864 | |
213,412,186 | |||
Passenger Airlines - 0.2% | |||
Copa Holdings SA Class A | 45,199 | 4,998,105 | |
Ryanair Holdings PLC sponsored ADR (a) | 324,100 | 35,845,460 | |
40,843,565 | |||
Professional Services - 0.1% | |||
Thomson Reuters Corp. | 26,308 | 3,551,952 | |
Verisk Analytics, Inc. | 86,063 | 19,452,820 | |
23,004,772 | |||
Trading Companies & Distributors - 0.4% | |||
United Rentals, Inc. | 53,932 | 24,019,695 | |
W.W. Grainger, Inc. | 99,857 | 78,746,232 | |
102,765,927 | |||
TOTAL INDUSTRIALS | 1,350,725,303 | ||
INFORMATION TECHNOLOGY - 24.8% | |||
Communications Equipment - 0.4% | |||
Arista Networks, Inc. (a) | 577,746 | 93,629,517 | |
Motorola Solutions, Inc. | 32,171 | 9,435,111 | |
103,064,628 | |||
Electronic Equipment, Instruments & Components - 1.9% | |||
Amphenol Corp. Class A | 5,155,216 | 437,935,599 | |
CDW Corp. | 98,583 | 18,089,981 | |
Jabil, Inc. | 143,153 | 15,450,503 | |
471,476,083 | |||
IT Services - 1.0% | |||
Accenture PLC Class A | 639,309 | 197,277,971 | |
Cloudflare, Inc. (a) | 143,969 | 9,411,254 | |
Gartner, Inc. (a) | 33,479 | 11,728,028 | |
MongoDB, Inc. Class A (a) | 36,887 | 15,160,188 | |
Okta, Inc. (a) | 108,174 | 7,501,867 | |
Shopify, Inc. Class A (a) | 193,648 | 12,515,676 | |
X Holdings Corp. Class A (d) | 102,340 | 3,962,605 | |
257,557,589 | |||
Semiconductors & Semiconductor Equipment - 7.1% | |||
Advanced Micro Devices, Inc. (a) | 1,658,479 | 188,917,343 | |
Advantest Corp. | 52,409 | 7,058,654 | |
Allegro MicroSystems LLC (a) | 101,031 | 4,560,539 | |
Analog Devices, Inc. | 579,128 | 112,819,926 | |
Applied Materials, Inc. | 71,360 | 10,314,374 | |
ASML Holding NV (depository receipt) | 13,800 | 10,001,550 | |
Broadcom, Inc. | 57,803 | 50,140,056 | |
First Solar, Inc. (a) | 140,207 | 26,651,949 | |
Lattice Semiconductor Corp. (a) | 478,487 | 45,968,246 | |
Microchip Technology, Inc. | 30,768 | 2,756,505 | |
Monolithic Power Systems, Inc. | 50,232 | 27,136,833 | |
NVIDIA Corp. | 2,331,029 | 986,071,888 | |
ON Semiconductor Corp. (a) | 1,221,171 | 115,498,353 | |
Qualcomm, Inc. | 1,059,894 | 126,169,782 | |
Synaptics, Inc. (a) | 25,981 | 2,218,258 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 403,677 | 40,739,083 | |
1,757,023,339 | |||
Software - 9.3% | |||
Adobe, Inc. (a) | 257,597 | 125,962,357 | |
ANSYS, Inc. (a) | 4,024 | 1,329,006 | |
Cadence Design Systems, Inc. (a) | 534,676 | 125,392,216 | |
Check Point Software Technologies Ltd. (a) | 99,318 | 12,476,327 | |
Clear Secure, Inc. (b) | 357,040 | 8,272,617 | |
Dynatrace, Inc. (a) | 351,300 | 18,081,411 | |
Fortinet, Inc. (a) | 649,030 | 49,060,178 | |
HubSpot, Inc. (a) | 20,188 | 10,741,833 | |
Intuit, Inc. | 15,310 | 7,014,889 | |
Microsoft Corp. | 4,795,577 | 1,633,085,792 | |
Palo Alto Networks, Inc. (a)(b) | 102,670 | 26,233,212 | |
Roper Technologies, Inc. | 5,500 | 2,644,400 | |
Salesforce, Inc. (a) | 1,051,554 | 222,151,298 | |
Samsara, Inc. (a) | 20,465 | 567,085 | |
ServiceNow, Inc. (a) | 26,785 | 15,052,366 | |
Stripe, Inc. Class B (a)(c)(d) | 75,100 | 1,511,763 | |
Synopsys, Inc. (a) | 83,574 | 36,388,955 | |
Tanium, Inc. Class B (a)(c)(d) | 449,538 | 3,551,350 | |
ZenPayroll, Inc. (a)(c)(d) | 50,300 | 1,583,947 | |
2,301,101,002 | |||
Technology Hardware, Storage & Peripherals - 5.1% | |||
Apple, Inc. | 6,525,105 | 1,265,674,617 | |
Dell Technologies, Inc. | 49,344 | 2,670,004 | |
Samsung Electronics Co. Ltd. | 46,510 | 2,561,149 | |
1,270,905,770 | |||
TOTAL INFORMATION TECHNOLOGY | 6,161,128,411 | ||
MATERIALS - 2.9% | |||
Chemicals - 0.3% | |||
Air Products & Chemicals, Inc. | 69,325 | 20,764,917 | |
Corteva, Inc. | 110,017 | 6,303,974 | |
Linde PLC | 24,633 | 9,387,144 | |
Sherwin-Williams Co. | 39,143 | 10,393,249 | |
Westlake Corp. | 150,699 | 18,004,010 | |
64,853,294 | |||
Construction Materials - 0.0% | |||
Vulcan Materials Co. | 35,400 | 7,980,576 | |
Metals & Mining - 2.6% | |||
Agnico Eagle Mines Ltd. (Canada) | 41,865 | 2,090,485 | |
B2Gold Corp. | 10,786,934 | 38,433,160 | |
Barrick Gold Corp. (Canada) | 467,905 | 7,915,268 | |
Cleveland-Cliffs, Inc. (a) | 649,160 | 10,879,922 | |
Franco-Nevada Corp. | 985,176 | 140,412,214 | |
Freeport-McMoRan, Inc. | 2,552,487 | 102,099,480 | |
Glencore PLC | 1,655,709 | 9,387,681 | |
Ivanhoe Electric, Inc. | 606,613 | 7,910,234 | |
Ivanhoe Mines Ltd. (a) | 9,531,892 | 87,062,384 | |
Ivanhoe Mines Ltd. (a)(e) | 1,400,665 | 12,793,392 | |
Lundin Gold, Inc. | 5,800 | 69,394 | |
Newcrest Mining Ltd. | 136,903 | 2,442,132 | |
Novagold Resources, Inc. (a) | 1,659,560 | 6,576,856 | |
Nucor Corp. (b) | 798,559 | 130,947,705 | |
POSCO sponsored ADR (b) | 6,907 | 510,773 | |
Steel Dynamics, Inc. | 602,745 | 65,657,013 | |
Sunrise Energy Metals Ltd. (a) | 635,031 | 449,639 | |
Wheaton Precious Metals Corp. | 381,793 | 16,510,980 | |
642,148,712 | |||
TOTAL MATERIALS | 714,982,582 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Equity Commonwealth | 333,302 | 6,752,699 | |
UTILITIES - 0.3% | |||
Electric Utilities - 0.3% | |||
Constellation Energy Corp. | 453,492 | 41,517,193 | |
PG&E Corp. (a) | 1,597,208 | 27,599,754 | |
69,116,947 | |||
TOTAL COMMON STOCKS (Cost $16,167,457,313) | 23,709,377,832 | ||
Preferred Stocks - 0.7% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.6% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 80,736 | 18,233,418 | |
Reddit, Inc.: | |||
Series E(a)(c)(d) | 27,300 | 944,307 | |
Series F(a)(c)(d) | 149,136 | 5,158,614 | |
24,336,339 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(c)(d) | 43,228 | 96,398 | |
Series C(a)(c)(d) | 170,098 | 379,319 | |
Series D(a)(c)(d) | 404,900 | 902,927 | |
1,378,644 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(c)(d) | 2,700 | 830,061 | |
TOTAL CONSUMER DISCRETIONARY | 2,208,705 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(c)(d) | 8,352 | 756,775 | |
Series H(a)(c)(d) | 11,788 | 1,068,111 | |
1,824,886 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (a)(c)(d) | 37,316 | 320,918 | |
TOTAL CONSUMER STAPLES | 2,145,804 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Acrisure Holdings, Inc. Series B (a)(c)(d) | 57,282 | 1,603,323 | |
Circle Internet Financial Ltd. Series F (a)(c)(d) | 118,667 | 2,853,941 | |
4,457,264 | |||
HEALTH CARE - 0.1% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(c)(d) | 486,500 | 2,062,760 | |
Health Care Providers & Services - 0.1% | |||
Lyra Health, Inc.: | |||
Series E(a)(c)(d) | 190,800 | 3,190,176 | |
Series F(a)(c)(d) | 11,519 | 192,598 | |
Somatus, Inc. Series E (a)(c)(d) | 2,766 | 2,802,677 | |
6,185,451 | |||
TOTAL HEALTH CARE | 8,248,211 | ||
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.2% | |||
Relativity Space, Inc.: | |||
Series D(a)(c)(d) | 207,384 | 3,133,572 | |
Series E(a)(c)(d) | 143,887 | 2,530,972 | |
Space Exploration Technologies Corp. Series N (a)(c)(d) | 49,490 | 40,086,900 | |
45,751,444 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E(a)(c)(d) | 178,019 | 7,156,364 | |
Series F(d) | 286,824 | 11,530,325 | |
18,686,689 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(c)(d) | 47,990 | 5,202,596 | |
TOTAL INDUSTRIALS | 69,640,729 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
ASAPP, Inc. Series C (a)(c)(d) | 204,122 | 626,655 | |
Carbon, Inc.: | |||
Series D(a)(c)(d) | 9,678 | 95,038 | |
Series E(a)(c)(d) | 7,351 | 86,080 | |
Moloco, Inc. Series A (c)(d) | 95,881 | 5,752,860 | |
Nuro, Inc.: | |||
Series C(a)(c)(d) | 405,967 | 2,577,890 | |
Series D(a)(c)(d) | 114,603 | 727,729 | |
Stripe, Inc.: | |||
Series H(a)(c)(d) | 29,000 | 583,770 | |
Series I(c)(d) | 321,951 | 6,480,874 | |
Tenstorrent, Inc. Series C1 (a)(c)(d) | 33,000 | 1,946,340 | |
ZenPayroll, Inc.: | |||
Series D(a)(c)(d) | 184,203 | 5,800,552 | |
Series E(a)(c)(d) | 28,063 | 883,704 | |
25,561,492 | |||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
High Power Exploration, Inc. Series A (a)(c)(d) | 1,289,012 | 5,400,960 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 141,999,504 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 2,041,109 | 28,228,537 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (a)(c)(d) | 175,323 | 4,216,518 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 32,445,055 | ||
TOTAL PREFERRED STOCKS (Cost $154,029,316) | 174,444,559 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (c)(d)(h) (Cost $1,840,000) | 1,840,000 | 1,825,280 | |
Money Market Funds - 4.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (i) | 946,547,310 | 946,736,619 | |
Fidelity Securities Lending Cash Central Fund 5.14% (i)(j) | 146,152,966 | 146,167,581 | |
TOTAL MONEY MARKET FUNDS (Cost $1,092,903,207) | 1,092,904,200 | ||
TOTAL INVESTMENT IN SECURITIES - 100.7% (Cost $17,416,229,836) | 24,978,551,871 |
NET OTHER ASSETS (LIABILITIES) - (0.7)% | (162,856,186) |
NET ASSETS - 100.0% | 24,815,695,685 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $215,410,127 or 0.9% of net assets. |
(d) | Level 3 security |
(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 $36,194,915 or 0.1% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security is perpetual in nature with no stated maturity date. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Acrisure Holdings, Inc. Series B | 3/22/21 | 1,043,678 |
ASAPP, Inc. Series C | 4/30/21 | 1,346,613 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 4,951,128 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 2,248,263 |
ByteDance Ltd. Series E1 | 11/18/20 | 8,846,581 |
Carbon, Inc. Series D | 12/15/17 | 225,990 |
Carbon, Inc. Series E | 3/22/19 | 205,787 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 2,845,500 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 5,000,627 |
Discord, Inc. Series I | 9/15/21 | 1,486,686 |
ElevateBio LLC Series C | 3/09/21 | 2,040,868 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 8,055,750 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 12,844,485 |
GoBrands, Inc. Series G | 3/02/21 | 2,085,639 |
GoBrands, Inc. Series H | 7/22/21 | 4,579,527 |
High Power Exploration, Inc. Series A | 11/15/19 - 3/04/21 | 6,793,094 |
Lyra Health, Inc. Series E | 1/14/21 | 1,747,079 |
Lyra Health, Inc. Series F | 6/04/21 | 180,899 |
Moloco, Inc. Series A | 6/26/23 | 5,752,860 |
Nuro, Inc. Series C | 10/30/20 | 5,299,737 |
Nuro, Inc. Series D | 10/29/21 | 2,388,982 |
Rad Power Bikes, Inc. | 1/21/21 | 1,599,460 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 208,525 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 820,526 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 3,880,481 |
Reddit, Inc. Series E | 5/18/21 | 1,159,546 |
Reddit, Inc. Series F | 8/11/21 | 9,215,770 |
Relativity Space, Inc. Series D | 11/20/20 | 3,095,642 |
Relativity Space, Inc. Series E | 5/27/21 | 3,285,674 |
Somatus, Inc. Series E | 1/31/22 | 2,413,708 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 3,065,927 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 13,362,300 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 8,226,276 |
Stripe, Inc. Class B | 5/18/21 | 3,013,641 |
Stripe, Inc. Series H | 3/15/21 | 1,163,625 |
Stripe, Inc. Series I | 3/20/23 - 5/12/23 | 6,482,206 |
Tanium, Inc. Class B | 9/18/20 | 5,122,575 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 1,961,992 |
Tenstorrent, Inc. 0% | 4/23/21 | 1,840,000 |
TulCo LLC | 8/24/17 - 9/07/18 | 651,224 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 12/16/22 | 7,182,374 |
ZenPayroll, Inc. | 10/01/21 | 1,448,054 |
ZenPayroll, Inc. Series D | 7/16/19 | 2,452,184 |
ZenPayroll, Inc. Series E | 7/13/21 | 852,984 |
Zipline International, Inc. | 10/12/21 | 3,148,776 |
Zipline International, Inc. Series E | 12/21/20 | 5,808,653 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 962,008,110 | 2,157,717,579 | 2,172,989,070 | 18,219,986 | - | - | 946,736,619 | 2.4% |
Fidelity Securities Lending Cash Central Fund 5.14% | 120,547,595 | 726,164,130 | 700,544,144 | 94,887 | - | - | 146,167,581 | 0.5% |
Total | 1,082,555,705 | 2,883,881,709 | 2,873,533,214 | 18,314,873 | - | - | 1,092,904,200 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,356,068,465 | 4,321,869,646 | - | 34,198,819 |
Consumer Discretionary | 2,334,871,188 | 2,244,819,546 | 61,569,063 | 28,482,579 |
Consumer Staples | 668,072,348 | 623,211,838 | 42,714,706 | 2,145,804 |
Energy | 1,084,858,598 | 1,082,440,835 | 2,417,763 | - |
Financials | 3,693,501,886 | 3,647,563,762 | 20,563,741 | 25,374,383 |
Health Care | 3,343,140,783 | 3,314,775,988 | 10,130,582 | 18,234,213 |
Industrials | 1,420,366,032 | 1,332,052,955 | 9,243,215 | 79,069,862 |
Information Technology | 6,186,689,903 | 6,140,898,943 | 9,619,803 | 36,171,157 |
Materials | 720,383,542 | 702,703,130 | 12,279,452 | 5,400,960 |
Real Estate | 6,752,699 | 6,752,699 | - | - |
Utilities | 69,116,947 | 69,116,947 | - | - |
Preferred Securities | 1,825,280 | - | - | 1,825,280 |
Money Market Funds | 1,092,904,200 | 1,092,904,200 | - | - |
Total Investments in Securities: | 24,978,551,871 | 24,579,110,489 | 168,538,325 | 230,903,057 |
Statement of Assets and Liabilities | ||||
June 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $143,974,020) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $16,323,326,629) | $ | 23,885,647,671 | ||
Fidelity Central Funds (cost $1,092,903,207) | 1,092,904,200 | |||
Total Investment in Securities (cost $17,416,229,836) | $ | 24,978,551,871 | ||
Restricted cash | 14,557 | |||
Foreign currency held at value (cost $2,765,524) | 2,764,812 | |||
Receivable for investments sold | 2,452,621 | |||
Receivable for fund shares sold | 15,667,562 | |||
Dividends receivable | 10,526,399 | |||
Distributions receivable from Fidelity Central Funds | 4,534,832 | |||
Other receivables | 153,556 | |||
Total assets | 25,014,666,210 | |||
Liabilities | ||||
Payable for investments purchased | $ | 30,616,117 | ||
Payable for fund shares redeemed | 12,947,668 | |||
Accrued management fee | 9,051,370 | |||
Other payables and accrued expenses | 187,440 | |||
Collateral on securities loaned | 146,167,930 | |||
Total Liabilities | 198,970,525 | |||
Net Assets | $ | 24,815,695,685 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 17,962,531,377 | ||
Total accumulated earnings (loss) | 6,853,164,308 | |||
Net Assets | $ | 24,815,695,685 | ||
Net Asset Value , offering price and redemption price per share ($24,815,695,685 ÷ 1,189,950,620 shares) | $ | 20.85 |
Statement of Operations | ||||
Six months ended June 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 105,888,127 | ||
Income from Fidelity Central Funds (including $94,887 from security lending) | 18,314,873 | |||
Total Income | 124,203,000 | |||
Expenses | ||||
Management fee | $ | 48,489,938 | ||
Independent trustees' fees and expenses | 68,388 | |||
Total expenses before reductions | 48,558,326 | |||
Expense reductions | (13,870) | |||
Total expenses after reductions | 48,544,456 | |||
Net Investment income (loss) | 75,658,544 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (167,398,870) | |||
Foreign currency transactions | (125,599) | |||
Total net realized gain (loss) | (167,524,469) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of increase in deferred foreign taxes of $79,006) | 4,778,656,648 | |||
Unfunded commitments | 777,124 | |||
Assets and liabilities in foreign currencies | (6,691) | |||
Total change in net unrealized appreciation (depreciation) | 4,779,427,081 | |||
Net gain (loss) | 4,611,902,612 | |||
Net increase (decrease) in net assets resulting from operations | $ | 4,687,561,156 |
Statement of Changes in Net Assets | ||||
Six months ended June 30, 2023 (Unaudited) | Year ended December 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 75,658,544 | $ | 134,044,290 |
Net realized gain (loss) | (167,524,469) | (161,744,148) | ||
Change in net unrealized appreciation (depreciation) | 4,779,427,081 | (7,153,578,023) | ||
Net increase (decrease) in net assets resulting from operations | 4,687,561,156 | (7,181,277,881) | ||
Distributions to shareholders | (16,982,185) | (224,884,344) | ||
Share transactions | ||||
Proceeds from sales of shares | 3,036,476,128 | 5,373,501,397 | ||
Reinvestment of distributions | 16,953,405 | 224,688,774 | ||
Cost of shares redeemed | (1,992,542,915) | (5,254,427,380) | ||
Net increase (decrease) in net assets resulting from share transactions | 1,060,886,618 | 343,762,791 | ||
Total increase (decrease) in net assets | 5,731,465,589 | (7,062,399,434) | ||
Net Assets | ||||
Beginning of period | 19,084,230,096 | 26,146,629,530 | ||
End of period | $ | 24,815,695,685 | $ | 19,084,230,096 |
Other Information | ||||
Shares | ||||
Sold | 161,586,504 | 285,619,497 | ||
Issued in reinvestment of distributions | 933,556 | 12,078,442 | ||
Redeemed | (106,744,063) | (283,595,105) | ||
Net increase (decrease) | 55,775,997 | 14,102,834 | ||
Fidelity® Contrafund® K6 |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.83 | $ | 23.34 | $ | 18.89 | $ | 14.47 | $ | 11.08 | $ | 11.36 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .07 | .12 | .03 | .03 | .05 | .05 | ||||||
Net realized and unrealized gain (loss) | 3.97 | (6.43) | 4.53 | 4.43 | 3.38 | (.29) | ||||||
Total from investment operations | 4.04 | (6.31) | 4.56 | 4.46 | 3.43 | (.24) | ||||||
Distributions from net investment income | (.02) | (.11) | (.05) | (.04) | (.04) | (.04) | ||||||
Distributions from net realized gain | - | (.09) | (.06) | - | - | - | ||||||
Total distributions | (.02) | (.20) | (.11) | (.04) | (.04) | (.04) | ||||||
Net asset value, end of period | $ | 20.85 | $ | 16.83 | $ | 23.34 | $ | 18.89 | $ | 14.47 | $ | 11.08 |
Total Return C,D | 23.99% | (27.12)% | 24.14% | 30.83% | 31.00% | (2.15)% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .45% G | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of fee waivers, if any | .45% G | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of all reductions | .45% G | .45% | .45% | .45% | .45% | .45% | ||||||
Net investment income (loss) | .70% G | .64% | .12% | .18% | .39% | .39% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 24,815,696 | $ | 19,084,230 | $ | 26,146,630 | $ | 17,402,109 | $ | 11,849,878 | $ | 5,278,087 |
Portfolio turnover rate H | 32% G,I | 38% I | 40% I | 45% I | 39% I | 54% I |
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 | $7,770,538,080 |
Gross unrealized depreciation | (283,169,644) |
Net unrealized appreciation (depreciation) | $7,487,368,436 |
Tax cost | $17,491,183,435 |
Short-term | $(499,921,123) |
$ Amount | % of Net Assets | |
Fidelity Contrafund K6 | 11,351,265 | .05 |
Purchases ($) | Sales ($) | |
Fidelity Contrafund K6 | 3,695,538,451 | 3,342,868,066 |
Shares | Total Proceeds ($) | |
Fidelity Contrafund K6 | 43,028,081 | 787,276,717 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Contrafund K6 | 55,666,002 | 367,380,483 | 992,024,707 |
Shares | Total Proceeds ($) | |
Fidelity Contrafund K6 | 44,817,858 | 914,186,580 |
Amount | |
Fidelity Contrafund K6 | $49,419 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Contrafund K6 | 359,442,164 | 230,327,619 | (2,754,569) |
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 Contrafund K6 | $10,201 | $1 | $- |
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® Contrafund® K6 | .45% | |||||||||
Actual | $ 1,000 | $ 1,239.90 | $ 2.50 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.56 | $ 2.26 | |||||||
- 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
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Contents
Top Holdings (% of Fund's net assets) | ||
Meta Platforms, Inc. Class A | 11.0 | |
Berkshire Hathaway, Inc. Class A | 9.0 | |
Microsoft Corp. | 6.8 | |
Amazon.com, Inc. | 5.8 | |
Apple, Inc. | 4.9 | |
UnitedHealth Group, Inc. | 4.0 | |
NVIDIA Corp. | 3.9 | |
Alphabet, Inc. Class A | 2.4 | |
Eli Lilly & Co. | 2.4 | |
Alphabet, Inc. Class C | 2.1 | |
52.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 24.3 | |
Communication Services | 18.1 | |
Financials | 15.3 | |
Health Care | 12.8 | |
Consumer Discretionary | 10.1 | |
Industrials | 6.3 | |
Energy | 4.0 | |
Materials | 2.9 | |
Consumer Staples | 2.6 | |
Utilities | 0.3 | |
Real Estate | 0.0 | |
Asset Allocation (% of Fund's net assets) |
![]() |
Common Stocks - 95.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 17.9% | |||
Entertainment - 2.2% | |||
Activision Blizzard, Inc. | 1,295,688 | 109,226 | |
Liberty Media Corp. Liberty Formula One Series C (a) | 3,478,443 | 261,857 | |
Netflix, Inc. (a) | 4,061,694 | 1,789,136 | |
The Walt Disney Co. (a) | 133,451 | 11,915 | |
Universal Music Group NV | 7,166,647 | 159,142 | |
2,331,276 | |||
Interactive Media & Services - 15.6% | |||
Alphabet, Inc.: | |||
Class A (a) | 21,903,320 | 2,621,827 | |
Class C (a) | 18,670,761 | 2,258,602 | |
Bumble, Inc. (a) | 1,829,135 | 30,693 | |
Epic Games, Inc. (a)(b)(c) | 123,700 | 87,080 | |
Meta Platforms, Inc. Class A (a) | 41,359,091 | 11,869,230 | |
16,867,432 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 249,086 | 10,350 | |
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. (a) | 743,487 | 103,270 | |
TOTAL COMMUNICATION SERVICES | 19,312,328 | ||
CONSUMER DISCRETIONARY - 10.1% | |||
Automobiles - 0.2% | |||
BYD Co. Ltd. (H Shares) | 1,303,455 | 41,795 | |
General Motors Co. | 499,647 | 19,266 | |
Harley-Davidson, Inc. | 317,996 | 11,197 | |
Hyundai Motor Co. Ltd. | 651,600 | 102,499 | |
Rad Power Bikes, Inc. (a)(b)(c) | 2,588,458 | 5,772 | |
Rivian Automotive, Inc. (a) | 351,417 | 5,855 | |
Tesla, Inc. (a) | 105,291 | 27,562 | |
Toyota Motor Corp. | 3,442,651 | 55,331 | |
269,277 | |||
Broadline Retail - 6.1% | |||
Amazon.com, Inc. (a) | 48,417,620 | 6,311,721 | |
Coupang, Inc. Class A (a) | 9,532,003 | 165,857 | |
Dollarama, Inc. | 489,443 | 33,148 | |
MercadoLibre, Inc. (a) | 58,502 | 69,301 | |
6,580,027 | |||
Hotels, Restaurants & Leisure - 1.1% | |||
Airbnb, Inc. Class A (a) | 3,601,863 | 461,615 | |
Booking Holdings, Inc. (a) | 29,621 | 79,986 | |
Cava Group, Inc. | 237,000 | 9,705 | |
Chipotle Mexican Grill, Inc. (a) | 66,168 | 141,533 | |
Churchill Downs, Inc. | 129,806 | 18,065 | |
Deliveroo PLC Class A (a)(d) | 32,996,514 | 47,982 | |
Doordash, Inc. (a) | 990 | 76 | |
Evolution AB (d) | 114,485 | 14,498 | |
Hilton Worldwide Holdings, Inc. | 1,212,328 | 176,454 | |
Hyatt Hotels Corp. Class A | 101,184 | 11,594 | |
Las Vegas Sands Corp. (a) | 324,072 | 18,796 | |
Marriott International, Inc. Class A | 53,955 | 9,911 | |
McDonald's Corp. | 388,258 | 115,860 | |
Restaurant Brands International, Inc. | 446,632 | 34,628 | |
Starbucks Corp. | 106,300 | 10,530 | |
1,151,233 | |||
Household Durables - 0.3% | |||
D.R. Horton, Inc. | 485,704 | 59,105 | |
Lennar Corp. Class A | 1,941,064 | 243,235 | |
PulteGroup, Inc. | 19,651 | 1,526 | |
303,866 | |||
Leisure Products - 0.0% | |||
Bandai Namco Holdings, Inc. | 188,369 | 4,362 | |
Specialty Retail - 1.9% | |||
Academy Sports & Outdoors, Inc. | 3,438,920 | 185,874 | |
AutoZone, Inc. (a) | 29,899 | 74,549 | |
Dick's Sporting Goods, Inc. | 2,385,244 | 315,305 | |
Fanatics, Inc. Class A (a)(b)(c) | 2,461,391 | 189,035 | |
Fast Retailing Co. Ltd. | 128,480 | 32,952 | |
O'Reilly Automotive, Inc. (a) | 365,331 | 349,001 | |
The Home Depot, Inc. | 957,271 | 297,367 | |
TJX Companies, Inc. | 1,535,876 | 130,227 | |
Ulta Beauty, Inc. (a) | 463,300 | 218,027 | |
Wayfair LLC Class A (a) | 67,258 | 4,372 | |
Williams-Sonoma, Inc. | 2,071,510 | 259,229 | |
2,055,938 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
Deckers Outdoor Corp. (a) | 113,809 | 60,052 | |
Dr. Martens Ltd. | 684,065 | 1,062 | |
lululemon athletica, Inc. (a) | 89,826 | 33,999 | |
NIKE, Inc. Class B | 1,410,736 | 155,703 | |
On Holding AG (a) | 8,215,449 | 271,110 | |
Ralph Lauren Corp. (e) | 85,309 | 10,519 | |
Tapestry, Inc. | 697,537 | 29,855 | |
562,300 | |||
TOTAL CONSUMER DISCRETIONARY | 10,927,003 | ||
CONSUMER STAPLES - 2.6% | |||
Beverages - 0.9% | |||
Anheuser-Busch InBev SA NV | 836,606 | 47,417 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 136,931 | 33,703 | |
Diageo PLC | 26,603 | 1,144 | |
PepsiCo, Inc. | 2,603,145 | 482,155 | |
The Coca-Cola Co. | 7,283,954 | 438,640 | |
1,003,059 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 1,530,519 | 78,481 | |
Casey's General Stores, Inc. | 245,023 | 59,756 | |
Costco Wholesale Corp. | 2,179,043 | 1,173,153 | |
Walmart, Inc. | 984 | 155 | |
1,311,545 | |||
Food Products - 0.2% | |||
Lamb Weston Holdings, Inc. | 247,033 | 28,396 | |
Mondelez International, Inc. | 2,196,552 | 160,217 | |
188,613 | |||
Personal Care Products - 0.3% | |||
Estee Lauder Companies, Inc. Class A | 379,297 | 74,486 | |
L'Oreal SA (a) | 375,100 | 174,975 | |
L'Oreal SA | 8,200 | 3,825 | |
Olaplex Holdings, Inc. (a) | 3,144,844 | 11,699 | |
264,985 | |||
TOTAL CONSUMER STAPLES | 2,768,202 | ||
ENERGY - 3.9% | |||
Oil, Gas & Consumable Fuels - 3.9% | |||
Birchcliff Energy Ltd. (e) | 935,234 | 5,535 | |
Canadian Natural Resources Ltd. | 5,178,969 | 291,172 | |
Cheniere Energy, Inc. | 1,147,869 | 174,889 | |
Chevron Corp. | 2,719,223 | 427,870 | |
ConocoPhillips Co. | 6,413,202 | 664,472 | |
Diamondback Energy, Inc. | 141,214 | 18,550 | |
EOG Resources, Inc. | 2,220,019 | 254,059 | |
Exxon Mobil Corp. | 11,674,685 | 1,252,110 | |
Hess Corp. | 3,005,761 | 408,633 | |
Marathon Petroleum Corp. | 174,655 | 20,365 | |
Occidental Petroleum Corp. | 5,350,347 | 314,600 | |
Pioneer Natural Resources Co. | 492,143 | 101,962 | |
PrairieSky Royalty Ltd. | 586,900 | 10,261 | |
Reliance Industries Ltd. | 172,039 | 5,361 | |
Suncor Energy, Inc. | 713,253 | 20,922 | |
Tourmaline Oil Corp. (e) | 431,833 | 20,347 | |
Valero Energy Corp. | 2,095,878 | 245,846 | |
4,236,954 | |||
FINANCIALS - 15.3% | |||
Banks - 2.2% | |||
AIB Group PLC | 3,255,976 | 13,679 | |
Banco Santander SA (Spain) | 12,950,658 | 47,945 | |
Bank of America Corp. | 21,637,292 | 620,774 | |
Bank of Ireland Group PLC | 4,154,101 | 39,609 | |
East West Bancorp, Inc. | 758,269 | 40,029 | |
First Citizens Bancshares, Inc. | 23,430 | 30,071 | |
JPMorgan Chase & Co. | 5,621,122 | 817,536 | |
Nu Holdings Ltd. (a) | 8,727,329 | 68,859 | |
Royal Bank of Canada (e) | 4,504,426 | 430,194 | |
Starling Bank Ltd. Series D (a)(b)(c) | 26,724,113 | 99,104 | |
Wells Fargo & Co. | 3,566,126 | 152,202 | |
2,360,002 | |||
Capital Markets - 0.5% | |||
BlackRock, Inc. Class A | 7,339 | 5,072 | |
Brookfield Asset Management Ltd. Class A | 54,679 | 1,785 | |
Brookfield Corp. (Canada) Class A | 384,783 | 12,954 | |
Coinbase Global, Inc. (a) | 988 | 71 | |
Goldman Sachs Group, Inc. | 17,049 | 5,499 | |
Morgan Stanley | 4,373,325 | 373,482 | |
MSCI, Inc. | 33,340 | 15,646 | |
TulCo LLC (a)(b)(c)(f) | 140,771 | 122,513 | |
537,022 | |||
Consumer Finance - 0.1% | |||
American Express Co. | 982,291 | 171,115 | |
Financial Services - 10.7% | |||
Adyen BV (a)(d) | 11,655 | 20,183 | |
Berkshire Hathaway, Inc. Class A (a)(e) | 18,775 | 9,721,883 | |
MasterCard, Inc. Class A | 448,270 | 176,305 | |
Rapyd Financial Network 2016 Ltd. (a)(b)(c) | 340,545 | 25,098 | |
Visa, Inc. Class A (e) | 6,661,478 | 1,581,968 | |
11,525,437 | |||
Insurance - 1.8% | |||
American International Group, Inc. | 4,706,222 | 270,796 | |
Aon PLC | 77,814 | 26,861 | |
Arthur J. Gallagher & Co. | 702,672 | 154,286 | |
Brookfield Asset Management Reinsurance Partners Ltd. (e) | 7,520 | 254 | |
Chubb Ltd. | 1,563,994 | 301,163 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 156,380 | 117,135 | |
Hartford Financial Services Group, Inc. | 382,876 | 27,575 | |
Intact Financial Corp. | 809,508 | 124,987 | |
Marsh & McLennan Companies, Inc. | 753,105 | 141,644 | |
Progressive Corp. | 3,601,342 | 476,710 | |
The Travelers Companies, Inc. | 1,742,327 | 302,573 | |
1,943,984 | |||
TOTAL FINANCIALS | 16,537,560 | ||
HEALTH CARE - 12.8% | |||
Biotechnology - 3.6% | |||
Alnylam Pharmaceuticals, Inc. (a) | 538,999 | 102,377 | |
Argenx SE ADR (a) | 303,290 | 118,201 | |
Arrowhead Pharmaceuticals, Inc. (a) | 303,300 | 10,816 | |
Biogen, Inc. (a) | 31,500 | 8,973 | |
Biohaven Ltd. | 24,326 | 582 | |
Exact Sciences Corp. (a) | 248,564 | 23,340 | |
Galapagos NV sponsored ADR (a) | 1,287,930 | 52,367 | |
Gilead Sciences, Inc. | 1,258,274 | 96,975 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(c) | 105,983 | 0 | |
Intellia Therapeutics, Inc. (a) | 81,236 | 3,313 | |
Krystal Biotech, Inc. (a) | 51,510 | 6,047 | |
Legend Biotech Corp. ADR (a) | 1,122,964 | 77,518 | |
Moderna, Inc. (a) | 46,965 | 5,706 | |
Moonlake Immunotherapeutics (a) | 413,900 | 21,109 | |
Nuvalent, Inc. Class A (a) | 257,047 | 10,840 | |
Regeneron Pharmaceuticals, Inc. (a) | 2,640,815 | 1,897,531 | |
Roivant Sciences Ltd. (a) | 1,776,216 | 17,904 | |
Sarepta Therapeutics, Inc. (a) | 92,764 | 10,623 | |
Seagen, Inc. (a) | 52,467 | 10,098 | |
United Therapeutics Corp. (a) | 585,202 | 129,183 | |
Vertex Pharmaceuticals, Inc. (a) | 3,447,757 | 1,213,300 | |
Zai Lab Ltd. (a) | 3,692,584 | 10,160 | |
3,826,963 | |||
Health Care Equipment & Supplies - 0.7% | |||
Align Technology, Inc. (a) | 29,400 | 10,397 | |
Boston Scientific Corp. (a) | 2,399,997 | 129,816 | |
DexCom, Inc. (a) | 240,199 | 30,868 | |
Edwards Lifesciences Corp. (a) | 43,702 | 4,122 | |
GE Healthcare Holding LLC | 409,916 | 33,302 | |
Inspire Medical Systems, Inc. (a) | 36,927 | 11,988 | |
Intuitive Surgical, Inc. (a) | 1,244,999 | 425,715 | |
Lantheus Holdings, Inc. (a) | 112,835 | 9,469 | |
Penumbra, Inc. (a) | 33,102 | 11,389 | |
Shockwave Medical, Inc. (a) | 76,358 | 21,793 | |
Straumann Holding AG | 179,507 | 29,111 | |
Stryker Corp. | 173,530 | 52,942 | |
Surgical Science Sweden AB (a) | 388,600 | 8,691 | |
779,603 | |||
Health Care Providers & Services - 4.2% | |||
23andMe Holding Co. Class A (a)(e) | 3,409,886 | 5,967 | |
agilon health, Inc. (a) | 872,331 | 15,126 | |
AmerisourceBergen Corp. | 145,943 | 28,084 | |
Cardinal Health, Inc. | 310,475 | 29,362 | |
Elevance Health, Inc. | 110,510 | 49,098 | |
HCA Holdings, Inc. | 364,051 | 110,482 | |
Henry Schein, Inc. (a) | 116,402 | 9,440 | |
P3 Health Partners, Inc. Class A (a) | 1,293,201 | 3,867 | |
UnitedHealth Group, Inc. | 8,905,730 | 4,280,450 | |
4,531,876 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. (a)(e) | 590,846 | 20,101 | |
Schrodinger, Inc. (a)(e) | 328,932 | 16,420 | |
36,521 | |||
Life Sciences Tools & Services - 0.6% | |||
Danaher Corp. | 882,518 | 211,804 | |
Mettler-Toledo International, Inc. (a) | 172,717 | 226,543 | |
Thermo Fisher Scientific, Inc. | 217,447 | 113,453 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 1,038,192 | 55,990 | |
607,790 | |||
Pharmaceuticals - 3.7% | |||
AstraZeneca PLC sponsored ADR | 661,826 | 47,367 | |
Bristol-Myers Squibb Co. | 972,773 | 62,209 | |
DICE Therapeutics, Inc. (a) | 745,852 | 34,652 | |
Eli Lilly & Co. | 5,450,021 | 2,555,951 | |
Intra-Cellular Therapies, Inc. (a) | 503,516 | 31,883 | |
Johnson & Johnson | 898,272 | 148,682 | |
Merck & Co., Inc. | 7,269,945 | 838,879 | |
Novo Nordisk A/S Series B | 200,773 | 32,433 | |
Nuvation Bio, Inc. (a) | 8,688,470 | 15,639 | |
Royalty Pharma PLC | 6,236,384 | 191,706 | |
Structure Therapeutics, Inc. ADR | 387,695 | 16,116 | |
Ventyx Biosciences, Inc. (a) | 162,141 | 5,318 | |
Verona Pharma PLC ADR (a) | 359,782 | 7,606 | |
Zoetis, Inc. Class A | 170,470 | 29,357 | |
4,017,798 | |||
TOTAL HEALTH CARE | 13,800,551 | ||
INDUSTRIALS - 5.3% | |||
Aerospace & Defense - 1.4% | |||
Lockheed Martin Corp. | 1,125,114 | 517,980 | |
Northrop Grumman Corp. | 1,222,364 | 557,154 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(b)(c) | 3,585,070 | 290,391 | |
Class C (a)(b)(c) | 129,910 | 10,523 | |
TransDigm Group, Inc. | 124,581 | 111,397 | |
1,487,445 | |||
Air Freight & Logistics - 0.5% | |||
United Parcel Service, Inc. Class B | 2,836,060 | 508,364 | |
Zipline International, Inc. (a)(b)(c) | 515,816 | 20,736 | |
529,100 | |||
Building Products - 0.1% | |||
Carrier Global Corp. | 683,100 | 33,957 | |
Toto Ltd. | 817,273 | 24,711 | |
Trane Technologies PLC | 372,627 | 71,269 | |
129,937 | |||
Commercial Services & Supplies - 0.2% | |||
Aurora Innovation, Inc. (a) | 1,390,942 | 4,089 | |
Cintas Corp. | 142,283 | 70,726 | |
Clean Harbors, Inc. (a) | 613,418 | 100,864 | |
Clean TeQ Water Pty Ltd. (a)(e) | 2,080,985 | 332 | |
GFL Environmental, Inc. | 313,734 | 12,182 | |
Republic Services, Inc. | 217,000 | 33,238 | |
Waste Connections, Inc. (United States) | 69,850 | 9,984 | |
231,415 | |||
Construction & Engineering - 0.0% | |||
Larsen & Toubro Ltd. | 373,200 | 11,282 | |
Electrical Equipment - 0.5% | |||
AMETEK, Inc. | 67,254 | 10,887 | |
Eaton Corp. PLC | 1,481,636 | 297,957 | |
Hubbell, Inc. Class B | 637,934 | 211,513 | |
nVent Electric PLC | 705,534 | 36,455 | |
Prysmian SpA | 264,700 | 11,057 | |
567,869 | |||
Ground Transportation - 0.5% | |||
Canadian Pacific Kansas City Ltd. | 3,070,843 | 248,032 | |
J.B. Hunt Transport Services, Inc. | 301,118 | 54,511 | |
Old Dominion Freight Lines, Inc. | 387,319 | 143,211 | |
Uber Technologies, Inc. (a) | 1,667,512 | 71,986 | |
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 132,800 | 336 | |
518,076 | |||
Industrial Conglomerates - 0.7% | |||
General Electric Co. | 6,214,417 | 682,654 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 413,150 | 101,656 | |
Crane Nxt Co. | 66,965 | 3,780 | |
Deere & Co. | 844,125 | 342,031 | |
Fortive Corp. | 660,651 | 49,397 | |
Indutrade AB | 399,852 | 9,005 | |
PACCAR, Inc. | 3,726,354 | 311,710 | |
Parker Hannifin Corp. | 138,233 | 53,916 | |
871,495 | |||
Passenger Airlines - 0.1% | |||
Copa Holdings SA Class A | 190,116 | 21,023 | |
Ryanair Holdings PLC sponsored ADR (a) | 915,084 | 101,208 | |
122,231 | |||
Professional Services - 0.1% | |||
Thomson Reuters Corp. | 113,509 | 15,325 | |
Verisk Analytics, Inc. | 334,641 | 75,639 | |
90,964 | |||
Trading Companies & Distributors - 0.4% | |||
United Rentals, Inc. | 224,738 | 100,092 | |
W.W. Grainger, Inc. | 420,346 | 331,481 | |
431,573 | |||
TOTAL INDUSTRIALS | 5,674,041 | ||
INFORMATION TECHNOLOGY - 24.1% | |||
Communications Equipment - 0.4% | |||
Arista Networks, Inc. (a) | 2,431,092 | 393,983 | |
Motorola Solutions, Inc. | 107,286 | 31,465 | |
425,448 | |||
Electronic Equipment, Instruments & Components - 1.8% | |||
Amphenol Corp. Class A | 21,214,988 | 1,802,213 | |
CDW Corp. | 352,841 | 64,746 | |
Jabil, Inc. | 525,224 | 56,687 | |
1,923,646 | |||
IT Services - 1.0% | |||
Accenture PLC Class A | 2,635,597 | 813,293 | |
ASAC II LP (a)(b)(c) | 39,494,500 | 6,635 | |
Cloudflare, Inc. (a) | 365,042 | 23,863 | |
Gartner, Inc. (a) | 119,890 | 41,999 | |
MongoDB, Inc. Class A (a) | 136,741 | 56,199 | |
Okta, Inc. (a) | 454,832 | 31,543 | |
Shopify, Inc. Class A (a) | 813,952 | 52,607 | |
X Holdings Corp. Class A (c) | 534,690 | 20,703 | |
1,046,842 | |||
Semiconductors & Semiconductor Equipment - 6.7% | |||
Advanced Micro Devices, Inc. (a) | 6,656,329 | 758,222 | |
Advantest Corp. | 220,296 | 29,670 | |
Allegro MicroSystems LLC (a) | 424,807 | 19,176 | |
Analog Devices, Inc. | 1,969,805 | 383,738 | |
Applied Materials, Inc. | 302,372 | 43,705 | |
ASML Holding NV (depository receipt) | 58,000 | 42,036 | |
Broadcom, Inc. | 241,740 | 209,693 | |
First Solar, Inc. (a) | 580,635 | 110,373 | |
Lattice Semiconductor Corp. (a) | 1,957,000 | 188,009 | |
Microchip Technology, Inc. | 129,318 | 11,586 | |
Monolithic Power Systems, Inc. | 195,734 | 105,741 | |
NVIDIA Corp. | 9,824,717 | 4,156,052 | |
ON Semiconductor Corp. (a) | 5,017,005 | 474,508 | |
Qualcomm, Inc. | 4,065,815 | 483,995 | |
Synaptics, Inc. (a) | 33,101 | 2,826 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,628,095 | 164,307 | |
7,183,637 | |||
Software - 9.3% | |||
Adobe, Inc. (a) | 939,075 | 459,198 | |
ANSYS, Inc. (a) | 16,985 | 5,610 | |
Cadence Design Systems, Inc. (a) | 2,034,790 | 477,199 | |
Check Point Software Technologies Ltd. (a) | 417,366 | 52,430 | |
Clear Secure, Inc. (e) | 1,332,904 | 30,883 | |
Dynatrace, Inc. (a) | 1,476,876 | 76,015 | |
Fortinet, Inc. (a) | 2,732,844 | 206,576 | |
HubSpot, Inc. (a) | 70,268 | 37,389 | |
Intuit, Inc. | 58,360 | 26,740 | |
Microsoft Corp. | 21,656,463 | 7,374,892 | |
Palo Alto Networks, Inc. (a) | 433,323 | 110,718 | |
Roper Technologies, Inc. | 23,000 | 11,058 | |
Salesforce, Inc. (a) | 4,102,461 | 866,686 | |
Samsara, Inc. (a) | 86,081 | 2,385 | |
ServiceNow, Inc. (a) | 99,461 | 55,894 | |
Stripe, Inc. Class B (a)(b)(c) | 455,600 | 9,171 | |
Synopsys, Inc. (a) | 345,920 | 150,617 | |
Tanium, Inc. Class B (a)(b)(c) | 6,742,751 | 53,268 | |
ZenPayroll, Inc. (a)(b)(c) | 289,200 | 9,107 | |
10,015,836 | |||
Technology Hardware, Storage & Peripherals - 4.9% | |||
Apple, Inc. | 27,428,315 | 5,320,270 | |
Dell Technologies, Inc. | 181,231 | 9,806 | |
Samsung Electronics Co. Ltd. | 195,500 | 10,766 | |
5,340,842 | |||
TOTAL INFORMATION TECHNOLOGY | 25,936,251 | ||
MATERIALS - 2.8% | |||
Chemicals - 0.2% | |||
Air Products & Chemicals, Inc. | 290,316 | 86,958 | |
Corteva, Inc. | 388,993 | 22,289 | |
Linde PLC | 85,269 | 32,494 | |
Sherwin-Williams Co. | 132,625 | 35,215 | |
Westlake Corp. | 575,476 | 68,752 | |
245,708 | |||
Construction Materials - 0.0% | |||
Vulcan Materials Co. | 150,500 | 33,929 | |
Metals & Mining - 2.6% | |||
Agnico Eagle Mines Ltd. (Canada) | 175,780 | 8,777 | |
B2Gold Corp. | 45,343,143 | 161,555 | |
Barrick Gold Corp. (Canada) | 1,247,725 | 21,107 | |
Cleveland-Cliffs, Inc. (a) | 2,728,614 | 45,732 | |
Franco-Nevada Corp. | 4,141,381 | 590,250 | |
Freeport-McMoRan, Inc. | 10,489,528 | 419,581 | |
Glencore PLC | 6,549,510 | 37,135 | |
Ivanhoe Electric, Inc. (g) | 4,816,069 | 62,802 | |
Ivanhoe Mines Ltd. (a) | 41,202,654 | 376,337 | |
Ivanhoe Mines Ltd. (a)(d) | 11,924,516 | 108,916 | |
Lundin Gold, Inc. | 23,500 | 281 | |
Newcrest Mining Ltd. | 575,454 | 10,265 | |
Novagold Resources, Inc. (a) | 6,976,038 | 27,646 | |
Nucor Corp. | 3,335,114 | 546,892 | |
POSCO sponsored ADR (e) | 29,179 | 2,158 | |
Steel Dynamics, Inc. | 2,491,300 | 271,377 | |
Sunrise Energy Metals Ltd. (a) | 2,669,366 | 1,890 | |
Wheaton Precious Metals Corp. | 1,604,667 | 69,395 | |
2,762,096 | |||
TOTAL MATERIALS | 3,041,733 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Equity Commonwealth | 1,296,841 | 26,274 | |
UTILITIES - 0.3% | |||
Electric Utilities - 0.3% | |||
Constellation Energy Corp. | 1,843,233 | 168,748 | |
PG&E Corp. (a) | 6,587,403 | 113,830 | |
282,578 | |||
TOTAL COMMON STOCKS (Cost $38,105,374) | 102,543,475 | ||
Preferred Stocks - 1.6% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 1.5% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 653,587 | 147,606 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 165,300 | 5,718 | |
Series F(a)(b)(c) | 878,650 | 30,393 | |
183,717 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 337,463 | 753 | |
Series C(a)(b)(c) | 1,327,879 | 2,961 | |
Series D(a)(b)(c) | 2,329,100 | 5,194 | |
8,908 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 15,500 | 4,765 | |
TOTAL CONSUMER DISCRETIONARY | 13,673 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 55,517 | 5,030 | |
Series H(a)(b)(c) | 69,898 | 6,333 | |
11,363 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (a)(b)(c) | 226,491 | 1,948 | |
TOTAL CONSUMER STAPLES | 13,311 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Acrisure Holdings, Inc. Series B (a)(b)(c) | 379,681 | 10,627 | |
Circle Internet Financial Ltd. Series F (a)(b)(c) | 637,828 | 15,340 | |
25,967 | |||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 3,224,900 | 13,674 | |
Intarcia Therapeutics, Inc. Series CC (a)(b)(c) | 2,100,446 | 0 | |
13,674 | |||
Health Care Providers & Services - 0.0% | |||
Get Heal, Inc. Series B (a)(b)(c) | 35,877,127 | 39 | |
Lyra Health, Inc.: | |||
Series E(a)(b)(c) | 1,478,100 | 24,714 | |
Series F(a)(b)(c) | 69,520 | 1,162 | |
Somatus, Inc. Series E (a)(b)(c) | 15,253 | 15,455 | |
41,370 | |||
TOTAL HEALTH CARE | 55,044 | ||
INDUSTRIALS - 1.0% | |||
Aerospace & Defense - 0.9% | |||
Relativity Space, Inc.: | |||
Series D(a)(b)(c) | 1,673,085 | 25,280 | |
Series E(a)(b)(c) | 436,722 | 7,682 | |
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 558,215 | 452,154 | |
Series H(a)(b)(c) | 120,282 | 97,428 | |
Series N(a)(b)(c) | 428,458 | 347,051 | |
929,595 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E(a)(b)(c) | 1,317,166 | 52,950 | |
Series F(c) | 682,143 | 27,422 | |
80,372 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 259,581 | 28,141 | |
TOTAL INDUSTRIALS | 1,038,108 | ||
INFORMATION TECHNOLOGY - 0.2% | |||
Software - 0.2% | |||
ASAPP, Inc. Series C (a)(b)(c) | 1,300,504 | 3,993 | |
Carbon, Inc.: | |||
Series D(a)(b)(c) | 915,425 | 8,989 | |
Series E(a)(b)(c) | 81,735 | 957 | |
Delphix Corp. Series D (a)(b)(c) | 3,712,687 | 15,445 | |
Moloco, Inc. Series A (b)(c) | 419,608 | 25,176 | |
Nuro, Inc.: | |||
Series C(a)(b)(c) | 3,293,118 | 20,911 | |
Series D(a)(b)(c) | 643,113 | 4,084 | |
Stripe, Inc.: | |||
Series H(a)(b)(c) | 190,300 | 3,831 | |
Series I(b)(c) | 2,114,059 | 42,556 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 200,200 | 11,808 | |
ZenPayroll, Inc.: | |||
Series D(a)(b)(c) | 2,436,137 | 76,714 | |
Series E(a)(b)(c) | 167,099 | 5,262 | |
219,726 | |||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
High Power Exploration, Inc. Series A (a)(b)(c) | 14,154,085 | 59,306 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,608,852 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 8,303,093 | 114,832 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 1,059,433 | 25,479 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 140,311 | ||
TOTAL PREFERRED STOCKS (Cost $1,087,118) | 1,749,163 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (b)(c)(i)(j) | 9,273 | 0 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(j) | 11,130 | 11,041 | |
TOTAL PREFERRED SECURITIES (Cost $20,403) | 11,041 | ||
Money Market Funds - 3.7% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (k) | 3,696,065,006 | 3,696,804 | |
Fidelity Securities Lending Cash Central Fund 5.14% (k)(l) | 340,393,051 | 340,427 | |
TOTAL MONEY MARKET FUNDS (Cost $4,037,230) | 4,037,231 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $43,250,125) | 108,340,910 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (472,836) |
NET ASSETS - 100.0% | 107,868,074 |
(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 $2,602,373,000 or 2.4% of net assets. |
(c) | Level 3 security |
(d) | 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 $191,579,000 or 0.2% of net assets. |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Affiliated company |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Non-income producing - Security is in default. |
(j) | Security is perpetual in nature with no stated maturity date. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(l) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Acrisure Holdings, Inc. Series B | 3/22/21 | 6,918 |
ASAC II LP | 10/10/13 | 3,041 |
ASAPP, Inc. Series C | 4/30/21 | 8,580 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 26,781 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 13,646 |
ByteDance Ltd. Series E1 | 11/18/20 | 71,616 |
Carbon, Inc. Series D | 12/15/17 | 21,376 |
Carbon, Inc. Series E | 3/22/19 | 2,288 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 17,195 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 26,878 |
Delphix Corp. Series D | 7/10/15 | 33,414 |
Discord, Inc. Series I | 9/15/21 | 8,535 |
ElevateBio LLC Series C | 3/09/21 | 13,528 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 71,128 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 82,369 |
Get Heal, Inc. Series B | 1/27/23 | 112 |
GoBrands, Inc. Series G | 3/02/21 | 13,864 |
GoBrands, Inc. Series H | 7/22/21 | 27,155 |
High Power Exploration, Inc. Series A | 11/15/19 - 3/04/21 | 74,592 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 28,629 |
Intarcia Therapeutics, Inc. 6% | 1/03/20 | 9,273 |
Lyra Health, Inc. Series E | 1/14/21 | 13,534 |
Lyra Health, Inc. Series F | 6/04/21 | 1,092 |
Moloco, Inc. Series A | 6/26/23 | 25,176 |
Nuro, Inc. Series C | 10/30/20 | 42,990 |
Nuro, Inc. Series D | 10/29/21 | 13,406 |
Rad Power Bikes, Inc. | 1/21/21 | 12,486 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 1,628 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 6,405 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 22,322 |
Rapyd Financial Network 2016 Ltd. | 3/30/21 | 25,000 |
Reddit, Inc. Series E | 5/18/21 | 7,021 |
Reddit, Inc. Series F | 8/11/21 | 54,296 |
Relativity Space, Inc. Series D | 11/20/20 | 24,974 |
Relativity Space, Inc. Series E | 5/27/21 | 9,973 |
Somatus, Inc. Series E | 1/31/22 | 13,310 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 5/24/22 | 60,159 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 1,754 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 43,239 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 16,238 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 115,684 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 52,246 |
Stripe, Inc. Class B | 5/18/21 | 18,282 |
Stripe, Inc. Series H | 3/15/21 | 7,636 |
Stripe, Inc. Series I | 3/20/23 - 5/12/23 | 42,565 |
Tanium, Inc. Class B | 4/21/17 - 9/18/20 | 57,901 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 11,903 |
Tenstorrent, Inc. 0% | 4/23/21 | 11,130 |
TulCo LLC | 8/24/17 - 9/07/18 | 51,985 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 12/16/22 | 39,966 |
ZenPayroll, Inc. | 10/01/21 | 8,326 |
ZenPayroll, Inc. Series D | 7/16/19 | 32,431 |
ZenPayroll, Inc. Series E | 7/13/21 | 5,079 |
Zipline International, Inc. | 10/12/21 | 18,569 |
Zipline International, Inc. Series E | 12/21/20 | 42,978 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 2,285,580 | 5,489,123 | 4,077,899 | 70,447 | - | - | 3,696,804 | 9.4% |
Fidelity Securities Lending Cash Central Fund 5.14% | 710,703 | 2,132,169 | 2,502,445 | 416 | - | - | 340,427 | 1.2% |
Total | 2,996,283 | 7,621,292 | 6,580,344 | 70,863 | - | - | 4,037,231 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
Ivanhoe Electric, Inc. | 65,377 | - | 6,439 | - | 308 | 3,556 | 62,802 |
P3 Health Partners, Inc. | 5,033 | - | - | - | - | 22,321 | - |
Zai Lab Ltd. | 20,591 | - | 9,817 | - | (11,610) | 10,995 | - |
Total | 91,001 | - | 16,256 | - | (11,302) | 36,872 | 62,802 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 19,496,045 | 19,225,248 | - | 270,797 |
Consumer Discretionary | 10,940,676 | 10,495,257 | 236,939 | 208,480 |
Consumer Staples | 2,781,513 | 2,540,841 | 227,361 | 13,311 |
Energy | 4,351,786 | 4,346,425 | 5,361 | - |
Financials | 16,589,006 | 16,222,717 | 68,128 | 298,161 |
Health Care | 13,855,595 | 13,701,968 | 42,593 | 111,034 |
Industrials | 6,712,149 | 5,316,066 | 36,325 | 1,359,758 |
Information Technology | 26,155,977 | 25,796,931 | 40,436 | 318,610 |
Materials | 3,101,039 | 2,992,443 | 49,290 | 59,306 |
Real Estate | 26,274 | 26,274 | - | - |
Utilities | 282,578 | 282,578 | - | - |
Preferred Securities | 11,041 | - | - | 11,041 |
Money Market Funds | 4,037,231 | 4,037,231 | - | - |
Total Investments in Securities: | 108,340,910 | 104,983,979 | 706,433 | 2,650,498 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 1,231,006 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 101,332 | ||
Cost of Purchases | 27,420 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 1,359,758 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2023 | $ | 101,332 | |
Other Investments in Securities | |||
Beginning Balance | $ | 1,209,666 | |
Net Realized Gain (Loss) on Investment Securities | (10,714) | ||
Net Unrealized Gain (Loss) on Investment Securities | 24,141 | ||
Cost of Purchases | 67,876 | ||
Proceeds of Sales | (229) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 1,290,740 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2023 | $ | 24,141 | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $335,035) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $39,199,470) | $ | 104,240,877 | ||
Fidelity Central Funds (cost $4,037,230) | 4,037,231 | |||
Other affiliated issuers (cost $13,425) | 62,802 | |||
Total Investment in Securities (cost $43,250,125) | $ | 108,340,910 | ||
Cash | 578 | |||
Restricted cash | 1,137 | |||
Foreign currency held at value (cost $10,628) | 10,660 | |||
Receivable for investments sold | 10,686 | |||
Receivable for fund shares sold | 25,084 | |||
Dividends receivable | 45,694 | |||
Distributions receivable from Fidelity Central Funds | 16,482 | |||
Other receivables | 4,175 | |||
Total assets | 108,455,406 | |||
Liabilities | ||||
Payable for investments purchased | $ | 144,350 | ||
Payable for fund shares redeemed | 45,998 | |||
Accrued management fee | 25,951 | |||
Other affiliated payables | 9,554 | |||
Other payables and accrued expenses | 21,235 | |||
Collateral on securities loaned | 340,244 | |||
Total Liabilities | 587,332 | |||
Net Assets | $ | 107,868,074 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 40,216,832 | ||
Total accumulated earnings (loss) | 67,651,242 | |||
Net Assets | $ | 107,868,074 | ||
Net Asset Value and Maximum Offering Price | ||||
Contrafund : | ||||
Net Asset Value , offering price and redemption price per share ($98,809,151 ÷ 6,621,389 shares) | $ | 14.92 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($9,058,923 ÷ 604,707 shares) | $ | 14.98 |
Statement of Operations | ||||
Amounts in thousands | Six months ended June 30, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 448,607 | ||
Income from Fidelity Central Funds (including $416 from security lending) | 70,863 | |||
Total Income | 519,470 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 258,195 | ||
Performance adjustment | (118,329) | |||
Transfer agent fees | 53,960 | |||
Accounting fees | 1,586 | |||
Custodian fees and expenses | 361 | |||
Independent trustees' fees and expenses | 331 | |||
Registration fees | 173 | |||
Audit | 148 | |||
Legal | 67 | |||
Miscellaneous | 282 | |||
Total expenses before reductions | 196,774 | |||
Expense reductions | (2,190) | |||
Total expenses after reductions | 194,584 | |||
Net Investment income (loss) | 324,886 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $1,559) | 2,248,371 | |||
Redemptions in-kind | 568,537 | |||
Affiliated issuers | (11,302) | |||
Foreign currency transactions | (726) | |||
Total net realized gain (loss) | 2,804,880 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $1,594) | 19,058,315 | |||
Affiliated issuers | 36,872 | |||
Unfunded commitments | 5,103 | |||
Assets and liabilities in foreign currencies | 19 | |||
Total change in net unrealized appreciation (depreciation) | 19,100,309 | |||
Net gain (loss) | 21,905,189 | |||
Net increase (decrease) in net assets resulting from operations | $ | 22,230,075 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended June 30, 2023 (Unaudited) | Year ended December 31, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 324,886 | $ | 445,648 |
Net realized gain (loss) | 2,804,880 | 11,425,226 | ||
Change in net unrealized appreciation (depreciation) | 19,100,309 | (51,437,288) | ||
Net increase (decrease) in net assets resulting from operations | 22,230,075 | (39,566,414) | ||
Distributions to shareholders | (1,378,547) | (10,115,716) | ||
Share transactions - net increase (decrease) | (3,884,328) | (4,582,140) | ||
Total increase (decrease) in net assets | 16,967,200 | (54,264,270) | ||
Net Assets | ||||
Beginning of period | 90,900,874 | 145,165,144 | ||
End of period | $ | 107,868,074 | $ | 90,900,874 |
Fidelity® Contrafund® |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 12.09 | $ | 18.76 | $ | 16.77 | $ | 13.71 | $ | 11.01 | $ | 12.24 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .04 | .06 | (.05) | (.04) | - D | - D | ||||||
Net realized and unrealized gain (loss) | 2.98 | (5.29) | 4.07 | 4.44 | 3.27 | (.22) | ||||||
Total from investment operations | 3.02 | (5.23) | 4.02 | 4.40 | 3.27 | (.22) | ||||||
Distributions from net investment income | - | (.08) | - | - | - | - | ||||||
Distributions from net realized gain | (.19) | (1.36) | (2.03) | (1.34) | (.57) | (1.01) | ||||||
Total distributions | (.19) | (1.44) | (2.03) | (1.34) | (.57) | (1.01) | ||||||
Net asset value, end of period | $ | 14.92 | $ | 12.09 | $ | 18.76 | $ | 16.77 | $ | 13.71 | $ | 11.01 |
Total Return E,F | 25.19% | (28.26)% | 24.36% | 32.58% | 29.98% | (2.13)% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .41% I | .55% | .81% | .86% | .85% | .82% | ||||||
Expenses net of fee waivers, if any | .40% I | .54% | .81% | .86% | .85% | .81% | ||||||
Expenses net of all reductions | .40% I | .54% | .81% | .85% | .85% | .81% | ||||||
Net investment income (loss) | .65% I | .41% | (.26)% | (.23)% | (.02)% | .01% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 98,809 | $ | 82,279 | $ | 128,577 | $ | 113,100 | $ | 97,098 | $ | 82,628 |
Portfolio turnover rate J | 16% I | 25% K | 27% K | 32% K | 26% K | 32% K |
Fidelity® Contrafund® Class K |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 12.13 | $ | 18.82 | $ | 16.81 | $ | 13.73 | $ | 11.01 | $ | 12.24 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .05 | .07 | (.03) | (.02) | .01 | .01 | ||||||
Net realized and unrealized gain (loss) | 2.99 | (5.31) | 4.07 | 4.44 | 3.28 | (.23) | ||||||
Total from investment operations | 3.04 | (5.24) | 4.04 | 4.42 | 3.29 | (.22) | ||||||
Distributions from net investment income | - | (.09) | - | - | - | - | ||||||
Distributions from net realized gain | (.19) | (1.36) | (2.03) | (1.34) | (.57) | (1.01) | ||||||
Total distributions | (.19) | (1.45) | (2.03) | (1.34) | (.57) | (1.01) | ||||||
Net asset value, end of period | $ | 14.98 | $ | 12.13 | $ | 18.82 | $ | 16.81 | $ | 13.73 | $ | 11.01 |
Total Return D,E | 25.27% | (28.22)% | 24.42% | 32.68% | 30.17% | (2.07)% | ||||||
Ratios to Average Net Assets C,F,G | ||||||||||||
Expenses before reductions | .33% H | .47% | .74% | .78% | .77% | .73% | ||||||
Expenses net of fee waivers, if any | .33% H | .47% | .74% | .78% | .76% | .73% | ||||||
Expenses net of all reductions | .33% H | .47% | .74% | .78% | .76% | .72% | ||||||
Net investment income (loss) | .73% H | .48% | (.18)% | (.16)% | .06% | .10% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 9,059 | $ | 8,622 | $ | 16,588 | $ | 23,196 | $ | 22,626 | $ | 25,502 |
Portfolio turnover rate I | 16% H,J | 25% J | 27% J | 32% J | 26% J | 32% 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% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $2,639,457 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 22.0 / 14.3 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.3 - 43.7 / 10.7 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 14.5 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.17 / $0.17 | Increase | ||
Market approach | Transaction price | $59.45 - $60.00 / $59.83 | Increase | ||
Discount rate | 10.0% | Decrease | |||
Premium rate | 10.0% | Increase | |||
Book value | Book value multiple | 1.0 | Increase | ||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.0% | Decrease | ||
Exit multiple | 1.8 | Increase | |||
Black scholes | Discount rate | 4.0% - 5.4% / 4.4% | Increase | ||
Volatility | 70.0% - 85.0% / 76.6% | Increase | |||
Term | 0.3 - 5.0 / 3.6 | Increase | |||
Preferred Securities | $11,041 | Recovery value | Recovery value | $0.00 | Increase |
Market approach | Transaction price | 59.45 | Increase | ||
Premium rate | 10.0% | Increase | |||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 70.0% | Increase | |||
Term | 2.0 | Increase |
Fidelity Contrafund | $3,721 |
Gross unrealized appreciation | $65,710,225 |
Gross unrealized depreciation | (1,070,305) |
Net unrealized appreciation (depreciation) | $64,639,920 |
Tax cost | $43,700,990 |
$ Amount | % of Net Assets | |
Fidelity Contrafund | 179,640 | .17 |
Purchases ($) | Sales ($) | |
Fidelity Contrafund | 7,603,033 | 13,043,231 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Contrafund | 67,242 | 568,537 | 882,791 | Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Contrafund | 103,972 | 964,453 | 1,619,588 | Contrafund, Class K |
Amount | % of Class-Level Average Net Assets A | |
Contrafund | $52,116 | .12 |
Class K | 1,844 | .04 |
$53,960 |
% of Average Net Assets | |
Fidelity Contrafund | - A |
Amount | |
Fidelity Contrafund | $165 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Contrafund | 341,315 | 900,535 | 251,001 |
Amount | |
Fidelity Contrafund | $93 |
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 Contrafund | $44 | $- A | $- |
Six months ended June 30, 2023 | Year ended December 31, 2022 | |
Fidelity Contrafund | ||
Distributions to shareholders | ||
Contrafund | $1,249,206 | $9,128,177 |
Class K | 129,341 | 987,539 |
Total | $1,378,547 | $10,115,716 |
Shares | Shares | Dollars | Dollars | |
Six months ended June 30, 2023 | Year ended December 31, 2022 | Six months ended June 30, 2023 | Year ended December 31, 2022 | |
Fidelity Contrafund | ||||
Contrafund | ||||
Shares sold | 148,498 | 348,710 | $1,993,786 | $5,094,513 |
Reinvestment of distributions | 89,917 | 657,388 | 1,159,027 | 8,457,516 |
Shares redeemed | (425,066) | (1,050,982) | (5,636,012) | (15,394,010) |
Net increase (decrease) | (186,651) | (44,884) | $(2,483,199) | $(1,841,981) |
Class K | ||||
Shares sold | 46,601 | 63,881 | $631,286 | $958,814 |
Reinvestment of distributions | 10,003 | 76,064 | 129,337 | 987,511 |
Shares redeemed | (162,866) | (310,293) | (2,161,752) | (4,686,484) |
Net increase (decrease) | (106,262) | (170,348) | $(1,401,129) | $(2,740,159) |
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® Contrafund® | ||||||||||
Fidelity® Contrafund® | .40% | |||||||||
Actual | $ 1,000 | $ 1,251.90 | $ 2.23 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.81 | $ 2.01 | |||||||
Class K | .33% | |||||||||
Actual | $ 1,000 | $ 1,252.70 | $ 1.84 | |||||||
Hypothetical- B | $ 1,000 | $ 1,023.16 | $ 1.66 | |||||||
- 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
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Contents
Top Holdings (% of Fund's net assets) | ||
Meta Platforms, Inc. Class A | 8.4 | |
Berkshire Hathaway, Inc. Class A | 5.9 | |
Microsoft Corp. | 5.4 | |
Apple, Inc. | 4.5 | |
NVIDIA Corp. | 4.2 | |
Amazon.com, Inc. | 3.6 | |
Exxon Mobil Corp. | 2.6 | |
Vertex Pharmaceuticals, Inc. | 2.5 | |
Netflix, Inc. | 2.3 | |
Eli Lilly & Co. | 2.2 | |
41.6 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 25.0 | |
Communication Services | 15.4 | |
Health Care | 14.5 | |
Financials | 12.5 | |
Consumer Discretionary | 8.7 | |
Industrials | 8.1 | |
Energy | 7.3 | |
Materials | 3.4 | |
Consumer Staples | 2.9 | |
Utilities | 0.2 | |
Real Estate | 0.0 | |
Asset Allocation (% of Fund's net assets) |
![]() |
Common Stocks - 96.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 15.3% | |||
Entertainment - 2.9% | |||
Activision Blizzard, Inc. | 117,300 | 9,888,390 | |
Liberty Media Corp. Liberty Formula One Series C (a) | 221,698 | 16,689,425 | |
Netflix, Inc. (a) | 479,809 | 211,351,066 | |
The Walt Disney Co. (a) | 7,700 | 687,456 | |
Universal Music Group NV | 1,185,508 | 26,325,296 | |
264,941,633 | |||
Interactive Media & Services - 12.3% | |||
Alphabet, Inc.: | |||
Class A (a) | 1,389,912 | 166,372,466 | |
Class C (a) | 1,407,000 | 170,204,790 | |
Bumble, Inc. (a) | 94,000 | 1,577,320 | |
Epic Games, Inc. (a)(b)(c) | 7,100 | 4,998,116 | |
Meta Platforms, Inc. Class A (a) | 2,642,754 | 758,417,547 | |
1,101,570,239 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 22,300 | 926,565 | |
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. (a) | 68,400 | 9,500,760 | |
TOTAL COMMUNICATION SERVICES | 1,376,939,197 | ||
CONSUMER DISCRETIONARY - 8.7% | |||
Automobiles - 0.5% | |||
BYD Co. Ltd. (H Shares) | 113,500 | 3,639,339 | |
Harley-Davidson, Inc. | 327,900 | 11,545,359 | |
Hyundai Motor Co. Ltd. | 86,200 | 13,559,595 | |
Rad Power Bikes, Inc. (a)(b)(c) | 145,919 | 325,399 | |
Rivian Automotive, Inc. (a) | 11,042 | 183,960 | |
Tesla, Inc. (a) | 16,700 | 4,371,559 | |
Toyota Motor Corp. | 846,100 | 13,598,595 | |
47,223,806 | |||
Broadline Retail - 3.8% | |||
Amazon.com, Inc. (a) | 2,524,040 | 329,033,854 | |
Coupang, Inc. Class A (a) | 377,926 | 6,575,912 | |
Dollarama, Inc. | 32,400 | 2,194,322 | |
MercadoLibre, Inc. (a) | 4,900 | 5,804,540 | |
343,608,628 | |||
Hotels, Restaurants & Leisure - 1.8% | |||
Airbnb, Inc. Class A (a) | 422,500 | 54,147,600 | |
Booking Holdings, Inc. (a) | 2,400 | 6,480,792 | |
Cava Group, Inc. | 20,000 | 819,000 | |
Chipotle Mexican Grill, Inc. (a) | 11,254 | 24,072,306 | |
Churchill Downs, Inc. | 12,278 | 1,708,729 | |
Deliveroo PLC Class A (a)(d) | 1,530,738 | 2,225,923 | |
Evolution AB (d) | 9,100 | 1,152,376 | |
Hilton Worldwide Holdings, Inc. | 147,513 | 21,470,517 | |
Hyatt Hotels Corp. Class A | 7,708 | 883,183 | |
Las Vegas Sands Corp. (a) | 29,200 | 1,693,600 | |
Marriott International, Inc. Class A | 4,800 | 881,712 | |
McDonald's Corp. | 136,200 | 40,643,442 | |
Restaurant Brands International, Inc. | 39,500 | 3,062,499 | |
Starbucks Corp. | 9,000 | 891,540 | |
160,133,219 | |||
Household Durables - 0.4% | |||
Blu Investments LLC (a)(b)(c) | 21,093,998 | 6,539 | |
D.R. Horton, Inc. | 42,200 | 5,135,318 | |
Lennar Corp. Class A | 276,054 | 34,592,327 | |
PulteGroup, Inc. | 1,800 | 139,824 | |
39,874,008 | |||
Leisure Products - 0.0% | |||
Bandai Namco Holdings, Inc. | 16,500 | 382,096 | |
Specialty Retail - 1.9% | |||
Academy Sports & Outdoors, Inc. | 218,568 | 11,813,600 | |
Dick's Sporting Goods, Inc. | 218,804 | 28,923,701 | |
Fanatics, Inc. Class A (a)(b)(c) | 139,938 | 10,747,238 | |
Fast Retailing Co. Ltd. | 11,500 | 2,949,460 | |
O'Reilly Automotive, Inc. (a) | 40,846 | 39,020,184 | |
The Home Depot, Inc. | 366 | 113,694 | |
TJX Companies, Inc. | 226,900 | 19,238,851 | |
Ulta Beauty, Inc. (a) | 77,603 | 36,519,584 | |
Wayfair LLC Class A (a) | 6,160 | 400,462 | |
Williams-Sonoma, Inc. | 142,114 | 17,784,146 | |
167,510,920 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
China Hongxing Sports Ltd. (a)(c) | 22,200 | 0 | |
Deckers Outdoor Corp. (a) | 13,084 | 6,903,903 | |
Dr. Martens Ltd. | 24,809 | 38,534 | |
lululemon athletica, Inc. (a) | 10,834 | 4,100,669 | |
NIKE, Inc. Class B | 3,900 | 430,443 | |
On Holding AG (a) | 302,700 | 9,989,100 | |
Ralph Lauren Corp. (e) | 7,600 | 937,080 | |
Tapestry, Inc. | 61,000 | 2,610,800 | |
25,010,529 | |||
TOTAL CONSUMER DISCRETIONARY | 783,743,206 | ||
CONSUMER STAPLES - 2.9% | |||
Beverages - 1.5% | |||
Anheuser-Busch InBev SA NV | 181,200 | 10,269,953 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 52,200 | 12,847,986 | |
Diageo PLC | 1,061 | 45,613 | |
PepsiCo, Inc. | 389,900 | 72,217,278 | |
The Coca-Cola Co. | 614,950 | 37,032,289 | |
132,413,119 | |||
Consumer Staples Distribution & Retail - 0.9% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 109,800 | 5,630,280 | |
Casey's General Stores, Inc. | 20,700 | 5,048,316 | |
Costco Wholesale Corp. | 128,937 | 69,417,102 | |
80,095,698 | |||
Food Products - 0.4% | |||
Lamb Weston Holdings, Inc. | 194,600 | 22,369,270 | |
Mondelez International, Inc. | 178,600 | 13,027,084 | |
35,396,354 | |||
Personal Care Products - 0.1% | |||
L'Oreal SA (a) | 25,928 | 12,094,792 | |
L'Oreal SA | 621 | 289,682 | |
Olaplex Holdings, Inc. (a) | 228,724 | 850,853 | |
13,235,327 | |||
TOTAL CONSUMER STAPLES | 261,140,498 | ||
ENERGY - 7.2% | |||
Oil, Gas & Consumable Fuels - 7.2% | |||
Antero Resources Corp. (a) | 16,900 | 389,207 | |
Birchcliff Energy Ltd. (e) | 75,900 | 449,184 | |
Canadian Natural Resources Ltd. | 359,600 | 20,217,406 | |
Cheniere Energy, Inc. | 96,936 | 14,769,169 | |
Chevron Corp. | 294,700 | 46,371,045 | |
ConocoPhillips Co. | 1,069,177 | 110,777,429 | |
Diamondback Energy, Inc. | 93,246 | 12,248,795 | |
EOG Resources, Inc. | 275,900 | 31,573,996 | |
Exxon Mobil Corp. | 2,174,800 | 233,247,300 | |
Hess Corp. | 466,122 | 63,369,286 | |
Marathon Petroleum Corp. | 80,400 | 9,374,640 | |
Occidental Petroleum Corp. | 760,900 | 44,740,920 | |
Pioneer Natural Resources Co. | 56,700 | 11,747,106 | |
PrairieSky Royalty Ltd. | 49,600 | 867,134 | |
Suncor Energy, Inc. | 61,300 | 1,798,164 | |
Tourmaline Oil Corp. (e) | 32,700 | 1,540,769 | |
Valero Energy Corp. | 317,900 | 37,289,670 | |
640,771,220 | |||
FINANCIALS - 12.5% | |||
Banks - 2.2% | |||
AIB Group PLC | 263,600 | 1,107,415 | |
Banco Santander SA (Spain) | 1,006,700 | 3,726,942 | |
Bank of America Corp. | 2,252,362 | 64,620,266 | |
Bank of Ireland Group PLC | 343,600 | 3,276,194 | |
East West Bancorp, Inc. | 68,200 | 3,600,278 | |
First Citizens Bancshares, Inc. | 2,100 | 2,695,245 | |
HDFC Bank Ltd. sponsored ADR | 64,600 | 4,502,620 | |
JPMorgan Chase & Co. | 511,424 | 74,381,507 | |
Nu Holdings Ltd. (a) | 645,700 | 5,094,573 | |
Royal Bank of Canada | 266,300 | 25,432,932 | |
Starling Bank Ltd. Series D (a)(b)(c) | 1,611,012 | 5,974,277 | |
Wells Fargo & Co. | 182,600 | 7,793,368 | |
202,205,617 | |||
Capital Markets - 0.6% | |||
BlackRock, Inc. Class A | 600 | 414,684 | |
Brookfield Asset Management Ltd. Class A | 4,520 | 147,533 | |
Brookfield Corp. (Canada) Class A | 34,000 | 1,144,669 | |
Goldman Sachs Group, Inc. | 2,873 | 926,657 | |
Morgan Stanley | 505,200 | 43,144,080 | |
MSCI, Inc. | 1,511 | 709,097 | |
TulCo LLC (a)(b)(c)(f) | 7,549 | 6,569,895 | |
53,056,615 | |||
Consumer Finance - 0.1% | |||
American Express Co. | 75,100 | 13,082,420 | |
Financial Services - 6.8% | |||
Adyen BV (a)(d) | 1,095 | 1,896,176 | |
Berkshire Hathaway, Inc. Class A (a) | 1,022 | 529,201,820 | |
MasterCard, Inc. Class A | 34,000 | 13,372,200 | |
Visa, Inc. Class A | 267,300 | 63,478,404 | |
607,948,600 | |||
Insurance - 2.8% | |||
American International Group, Inc. | 250,600 | 14,419,524 | |
Aon PLC | 4,400 | 1,518,880 | |
Arthur J. Gallagher & Co. | 43,411 | 9,531,753 | |
Brookfield Asset Management Reinsurance Partners Ltd. | 480 | 16,240 | |
Chubb Ltd. | 155,768 | 29,994,686 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 29,600 | 22,171,567 | |
Hartford Financial Services Group, Inc. | 2,700 | 194,454 | |
Intact Financial Corp. | 104,185 | 16,086,054 | |
Marsh & McLennan Companies, Inc. | 50,800 | 9,554,464 | |
Progressive Corp. | 625,800 | 82,837,146 | |
The Travelers Companies, Inc. | 356,508 | 61,911,179 | |
248,235,947 | |||
TOTAL FINANCIALS | 1,124,529,199 | ||
HEALTH CARE - 14.5% | |||
Biotechnology - 5.6% | |||
Alnylam Pharmaceuticals, Inc. (a) | 102,400 | 19,449,856 | |
Argenx SE ADR (a) | 22,327 | 8,701,502 | |
Arrowhead Pharmaceuticals, Inc. (a) | 25,600 | 912,896 | |
Biogen, Inc. (a) | 2,700 | 769,095 | |
Biohaven Ltd. | 1,466 | 35,067 | |
Exact Sciences Corp. (a) | 21,800 | 2,047,020 | |
Galapagos NV sponsored ADR (a) | 82,379 | 3,349,530 | |
Gilead Sciences, Inc. | 106,500 | 8,207,955 | |
Krystal Biotech, Inc. (a) | 4,700 | 551,780 | |
Legend Biotech Corp. ADR (a) | 88,443 | 6,105,220 | |
Moderna, Inc. (a) | 3,500 | 425,250 | |
Moonlake Immunotherapeutics (a) | 35,000 | 1,785,000 | |
Nuvalent, Inc. Class A (a) | 21,700 | 915,089 | |
Regeneron Pharmaceuticals, Inc. (a) | 277,261 | 199,223,119 | |
Roivant Sciences Ltd. (a) | 151,200 | 1,524,096 | |
Sarepta Therapeutics, Inc. (a) | 8,800 | 1,007,776 | |
Seagen, Inc. (a) | 4,700 | 904,562 | |
United Therapeutics Corp. (a) | 83,974 | 18,537,261 | |
Vertex Pharmaceuticals, Inc. (a) | 636,300 | 223,920,333 | |
Zai Lab Ltd. (a) | 222,960 | 613,446 | |
498,985,853 | |||
Health Care Equipment & Supplies - 1.0% | |||
Align Technology, Inc. (a) | 2,600 | 919,464 | |
Boston Scientific Corp. (a) | 210,000 | 11,358,900 | |
DexCom, Inc. (a) | 20,500 | 2,634,455 | |
Edwards Lifesciences Corp. (a) | 7,347 | 693,043 | |
GE Healthcare Holding LLC | 17,679 | 1,436,242 | |
Inspire Medical Systems, Inc. (a) | 3,300 | 1,071,312 | |
Intuitive Surgical, Inc. (a) | 176,350 | 60,301,119 | |
Lantheus Holdings, Inc. (a) | 10,100 | 847,592 | |
Penumbra, Inc. (a) | 2,900 | 997,774 | |
Shockwave Medical, Inc. (a) | 6,900 | 1,969,329 | |
Straumann Holding AG | 13,083 | 2,121,666 | |
Stryker Corp. | 15,500 | 4,728,895 | |
Surgical Science Sweden AB (a) | 32,800 | 733,528 | |
89,813,319 | |||
Health Care Providers & Services - 2.6% | |||
23andMe Holding Co. Class A (a)(e) | 144,779 | 253,363 | |
agilon health, Inc. (a) | 78,241 | 1,356,699 | |
AmerisourceBergen Corp. | 2,800 | 538,804 | |
Cardinal Health, Inc. | 92,500 | 8,747,725 | |
Elevance Health, Inc. | 28,000 | 12,440,120 | |
HCA Holdings, Inc. | 52,200 | 15,841,656 | |
Henry Schein, Inc. (a) | 10,400 | 843,440 | |
P3 Health Partners, Inc. Class A (a) | 57,586 | 172,182 | |
UnitedHealth Group, Inc. | 392,778 | 188,784,818 | |
228,978,807 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. (a)(e) | 49,200 | 1,673,784 | |
Schrodinger, Inc. (a)(e) | 29,595 | 1,477,382 | |
3,151,166 | |||
Life Sciences Tools & Services - 0.6% | |||
Danaher Corp. | 80,435 | 19,304,400 | |
Mettler-Toledo International, Inc. (a) | 13,756 | 18,042,920 | |
Thermo Fisher Scientific, Inc. | 24,860 | 12,970,705 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 59,096 | 3,187,047 | |
53,505,072 | |||
Pharmaceuticals - 4.7% | |||
AstraZeneca PLC sponsored ADR | 414,600 | 29,672,922 | |
Bristol-Myers Squibb Co. | 333,000 | 21,295,350 | |
DICE Therapeutics, Inc. (a) | 61,197 | 2,843,213 | |
Eli Lilly & Co. | 427,852 | 200,654,031 | |
Intra-Cellular Therapies, Inc. (a) | 31,880 | 2,018,642 | |
Johnson & Johnson | 164,100 | 27,161,832 | |
Merck & Co., Inc. | 969,000 | 111,812,910 | |
Novo Nordisk A/S Series B | 17,900 | 2,891,563 | |
Nuvation Bio, Inc. (a) | 82,324 | 148,183 | |
Royalty Pharma PLC | 554,200 | 17,036,108 | |
Structure Therapeutics, Inc. ADR | 34,200 | 1,421,694 | |
Ventyx Biosciences, Inc. (a) | 14,200 | 465,760 | |
Verona Pharma PLC ADR (a) | 32,200 | 680,708 | |
Zoetis, Inc. Class A | 40,500 | 6,974,505 | |
425,077,421 | |||
TOTAL HEALTH CARE | 1,299,511,638 | ||
INDUSTRIALS - 7.3% | |||
Aerospace & Defense - 1.7% | |||
Lockheed Martin Corp. | 185,000 | 85,170,300 | |
Northrop Grumman Corp. | 90,900 | 41,432,220 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(b)(c) | 212,910 | 17,245,710 | |
Class C (a)(b)(c) | 7,830 | 634,230 | |
TransDigm Group, Inc. | 10,800 | 9,657,036 | |
154,139,496 | |||
Air Freight & Logistics - 0.5% | |||
United Parcel Service, Inc. Class B | 270,915 | 48,561,514 | |
Zipline International, Inc. (a)(b)(c) | 28,830 | 1,158,966 | |
49,720,480 | |||
Building Products - 0.3% | |||
Carrier Global Corp. | 57,700 | 2,868,267 | |
Toto Ltd. | 65,320 | 1,975,042 | |
Trane Technologies PLC | 103,800 | 19,852,788 | |
24,696,097 | |||
Commercial Services & Supplies - 0.3% | |||
Cintas Corp. | 16,631 | 8,266,937 | |
Clean Harbors, Inc. (a) | 96,075 | 15,797,612 | |
Clean TeQ Water Pty Ltd. (a) | 2,653 | 424 | |
GFL Environmental, Inc. | 27,800 | 1,079,473 | |
Republic Services, Inc. | 18,300 | 2,803,011 | |
Waste Connections, Inc. (United States) | 6,239 | 891,740 | |
28,839,197 | |||
Construction & Engineering - 0.0% | |||
Larsen & Toubro Ltd. | 33,200 | 1,003,656 | |
Electrical Equipment - 1.3% | |||
AMETEK, Inc. | 6,000 | 971,280 | |
Eaton Corp. PLC | 334,100 | 67,187,510 | |
Hubbell, Inc. Class B | 129,956 | 43,088,211 | |
nVent Electric PLC | 63,700 | 3,291,379 | |
Prysmian SpA | 22,400 | 935,673 | |
115,474,053 | |||
Ground Transportation - 0.5% | |||
Canadian Pacific Kansas City Ltd. | 302,600 | 24,440,989 | |
J.B. Hunt Transport Services, Inc. | 11,678 | 2,114,068 | |
Old Dominion Freight Lines, Inc. | 24,400 | 9,021,900 | |
Uber Technologies, Inc. (a) | 146,800 | 6,337,356 | |
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 10,600 | 26,809 | |
41,941,122 | |||
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 705,237 | 77,470,284 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 42,900 | 10,555,545 | |
Crane Nxt Co. | 6,100 | 344,284 | |
Deere & Co. | 58,000 | 23,501,020 | |
Fortive Corp. | 120,925 | 9,041,562 | |
Indutrade AB | 34,800 | 783,741 | |
PACCAR, Inc. | 289,790 | 24,240,934 | |
Parker Hannifin Corp. | 12,400 | 4,836,496 | |
73,303,582 | |||
Passenger Airlines - 0.3% | |||
Copa Holdings SA Class A | 16,300 | 1,802,454 | |
Ryanair Holdings PLC sponsored ADR (a) | 233,600 | 25,836,160 | |
27,638,614 | |||
Professional Services - 0.1% | |||
Thomson Reuters Corp. | 9,591 | 1,294,921 | |
Verisk Analytics, Inc. | 29,300 | 6,622,679 | |
7,917,600 | |||
Trading Companies & Distributors - 0.6% | |||
United Rentals, Inc. | 58,800 | 26,187,756 | |
W.W. Grainger, Inc. | 35,419 | 27,931,069 | |
54,118,825 | |||
TOTAL INDUSTRIALS | 656,263,006 | ||
INFORMATION TECHNOLOGY - 24.9% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 257,295 | 41,697,228 | |
Motorola Solutions, Inc. | 9,500 | 2,786,160 | |
44,483,388 | |||
Electronic Equipment, Instruments & Components - 1.9% | |||
Amphenol Corp. Class A | 1,876,087 | 159,373,591 | |
CDW Corp. | 61,436 | 11,273,506 | |
Jabil, Inc. | 44,600 | 4,813,678 | |
175,460,775 | |||
IT Services - 1.1% | |||
Accenture PLC Class A | 266,329 | 82,183,803 | |
ASAC II LP (a)(b)(c) | 2,013,117 | 338,204 | |
Cloudflare, Inc. (a) | 508 | 33,208 | |
Gartner, Inc. (a) | 10,813 | 3,787,902 | |
MongoDB, Inc. Class A (a) | 11,900 | 4,890,781 | |
Okta, Inc. (a) | 39,900 | 2,767,065 | |
Shopify, Inc. Class A (a) | 69,168 | 4,470,401 | |
X Holdings Corp. Class A (c) | 32,510 | 1,258,787 | |
99,730,151 | |||
Semiconductors & Semiconductor Equipment - 8.0% | |||
Advanced Micro Devices, Inc. (a) | 832,153 | 94,790,548 | |
Advantest Corp. | 19,500 | 2,626,338 | |
Allegro MicroSystems LLC (a) | 38,400 | 1,733,376 | |
Analog Devices, Inc. | 352,200 | 68,612,082 | |
Applied Materials, Inc. | 25,900 | 3,743,586 | |
ASML Holding NV (depository receipt) | 4,900 | 3,551,275 | |
Broadcom, Inc. | 21,400 | 18,563,002 | |
First Solar, Inc. (a) | 60,600 | 11,519,454 | |
Lattice Semiconductor Corp. (a) | 281,291 | 27,023,626 | |
Microchip Technology, Inc. | 11,300 | 1,012,367 | |
Monolithic Power Systems, Inc. | 33,232 | 17,952,923 | |
NVIDIA Corp. | 895,260 | 378,712,885 | |
ON Semiconductor Corp. (a) | 482,200 | 45,606,476 | |
Qualcomm, Inc. | 144,437 | 17,193,780 | |
Synaptics, Inc. (a) | 1,931 | 164,869 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 249,200 | 25,149,264 | |
717,955,851 | |||
Software - 8.9% | |||
Adobe, Inc. (a) | 79,266 | 38,760,281 | |
ANSYS, Inc. (a) | 1,600 | 528,432 | |
Cadence Design Systems, Inc. (a) | 487,262 | 114,272,684 | |
Check Point Software Technologies Ltd. (a) | 25,700 | 3,228,434 | |
Clear Secure, Inc. (e) | 92,332 | 2,139,332 | |
Dynatrace, Inc. (a) | 234,800 | 12,085,156 | |
Fortinet, Inc. (a) | 396,327 | 29,958,358 | |
HubSpot, Inc. (a) | 6,100 | 3,245,749 | |
Intuit, Inc. | 6,083 | 2,787,170 | |
Magic Leap, Inc.: | |||
Class A (a)(c) | 72,297 | 447,518 | |
warrants (a)(c) | 39,573 | 244,957 | |
Microsoft Corp. | 1,419,149 | 483,277,000 | |
Palo Alto Networks, Inc. (a) | 38,400 | 9,811,584 | |
Roper Technologies, Inc. | 1,900 | 913,520 | |
Salesforce, Inc. (a) | 343,894 | 72,651,046 | |
Samsara, Inc. (a) | 6,900 | 191,199 | |
ServiceNow, Inc. (a) | 8,700 | 4,889,139 | |
Stripe, Inc. Class B (a)(b)(c) | 26,700 | 537,471 | |
Synopsys, Inc. (a) | 31,000 | 13,497,710 | |
Tanium, Inc. Class B (a)(b)(c) | 408,212 | 3,224,875 | |
796,691,615 | |||
Technology Hardware, Storage & Peripherals - 4.5% | |||
Apple, Inc. | 2,077,600 | 402,992,072 | |
Dell Technologies, Inc. | 19,519 | 1,056,173 | |
Samsung Electronics Co. Ltd. | 17,090 | 941,089 | |
404,989,334 | |||
TOTAL INFORMATION TECHNOLOGY | 2,239,311,114 | ||
MATERIALS - 3.4% | |||
Chemicals - 0.4% | |||
Air Products & Chemicals, Inc. | 29,500 | 8,836,135 | |
Corteva, Inc. | 121,100 | 6,939,030 | |
Linde PLC | 7,000 | 2,667,560 | |
Sherwin-Williams Co. | 9,634 | 2,558,020 | |
Westlake Corp. | 88,852 | 10,615,148 | |
31,615,893 | |||
Construction Materials - 0.0% | |||
Vulcan Materials Co. | 12,700 | 2,863,088 | |
Metals & Mining - 3.0% | |||
Agnico Eagle Mines Ltd. (Canada) | 15,400 | 768,983 | |
B2Gold Corp. | 1,897,333 | 6,760,077 | |
Cleveland-Cliffs, Inc. (a) | 148,053 | 2,481,368 | |
Franco-Nevada Corp. | 316,617 | 45,125,839 | |
Freeport-McMoRan, Inc. | 813,500 | 32,540,000 | |
Glencore PLC | 452,400 | 2,565,056 | |
Ivanhoe Electric, Inc. | 46,500 | 606,360 | |
Ivanhoe Mines Ltd. (a) | 3,410,287 | 31,148,875 | |
Lundin Gold, Inc. | 2,400 | 28,715 | |
Newcrest Mining Ltd. | 51,639 | 921,158 | |
Novagold Resources, Inc. (a) | 493,634 | 1,956,277 | |
Nucor Corp. | 514,773 | 84,412,477 | |
Orla Mining Ltd. (a) | 997,300 | 4,185,686 | |
POSCO sponsored ADR (e) | 2,050 | 151,598 | |
Steel Dynamics, Inc. | 398,940 | 43,456,534 | |
Wheaton Precious Metals Corp. | 332,000 | 14,357,637 | |
271,466,640 | |||
TOTAL MATERIALS | 305,945,621 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Equity Commonwealth | 67,691 | 1,371,420 | |
UTILITIES - 0.2% | |||
Electric Utilities - 0.2% | |||
Constellation Energy Corp. | 131,348 | 12,024,909 | |
PG&E Corp. (a) | 396,600 | 6,853,248 | |
18,878,157 | |||
TOTAL COMMON STOCKS (Cost $5,032,800,377) | 8,708,404,276 | ||
Preferred Stocks - 1.1% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.0% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 37,932 | 8,566,563 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 9,600 | 332,064 | |
Series F(a)(b)(c) | 49,896 | 1,725,903 | |
10,624,530 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 19,024 | 42,424 | |
Series C(a)(b)(c) | 74,857 | 166,931 | |
Series D(a)(b)(c) | 127,700 | 284,771 | |
494,126 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 800 | 245,944 | |
TOTAL CONSUMER DISCRETIONARY | 740,070 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 3,340 | 302,637 | |
Series H(a)(b)(c) | 3,970 | 359,722 | |
662,359 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (a)(b)(c) | 13,266 | 114,088 | |
TOTAL CONSUMER STAPLES | 776,447 | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (a)(b)(c) | 38,025 | 914,501 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 194,500 | 824,680 | |
Health Care Providers & Services - 0.0% | |||
Lyra Health, Inc.: | |||
Series E(a)(b)(c) | 79,800 | 1,334,256 | |
Series F(a)(b)(c) | 4,099 | 68,535 | |
Somatus, Inc. Series E (a)(b)(c) | 842 | 853,165 | |
2,255,956 | |||
TOTAL HEALTH CARE | 3,080,636 | ||
INDUSTRIALS - 0.8% | |||
Aerospace & Defense - 0.7% | |||
Relativity Space, Inc. Series E (a)(b)(c) | 125,290 | 2,203,851 | |
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 36,460 | 29,532,600 | |
Series H(a)(b)(c) | 7,256 | 5,877,360 | |
Series N(a)(b)(c) | 24,552 | 19,887,120 | |
57,500,931 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E(a)(b)(c) | 66,084 | 2,656,577 | |
Series F(c) | 129,467 | 5,204,573 | |
7,861,150 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 15,787 | 1,711,469 | |
TOTAL INDUSTRIALS | 67,073,550 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
Delphix Corp. Series D (a)(b)(c) | 232,855 | 968,677 | |
Moloco, Inc. Series A (b)(c) | 35,442 | 2,126,520 | |
Nuro, Inc.: | |||
Series C(a)(b)(c) | 190,290 | 1,208,342 | |
Series D(a)(b)(c) | 36,736 | 233,274 | |
Stripe, Inc.: | |||
Series H(a)(b)(c) | 11,500 | 231,495 | |
Series I(b)(c) | 128,075 | 2,578,150 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 12,300 | 725,454 | |
8,071,912 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 91,281,646 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 463,600 | 6,411,588 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 61,811 | 1,486,555 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Magic Leap, Inc. Series AA (a)(c) | 275,569 | 3,163,532 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 11,061,675 | ||
TOTAL PREFERRED STOCKS (Cost $62,300,047) | 102,343,321 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(h) (Cost $680,000) | 680,000 | 674,560 | |
Money Market Funds - 3.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (i) | 340,781,431 | 340,849,587 | |
Fidelity Securities Lending Cash Central Fund 5.14% (i)(j) | 7,943,009 | 7,943,803 | |
TOTAL MONEY MARKET FUNDS (Cost $348,793,390) | 348,793,390 | ||
TOTAL INVESTMENT IN SECURITIES - 101.9% (Cost $5,444,573,814) | 9,160,215,547 |
NET OTHER ASSETS (LIABILITIES) - (1.9)% | (170,800,272) |
NET ASSETS - 100.0% | 8,989,415,275 |
(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 $143,186,155 or 1.6% of net assets. |
(c) | Level 3 security |
(d) | 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 $5,274,475 or 0.1% of net assets. |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security is perpetual in nature with no stated maturity date. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
ASAC II LP | 10/10/13 | 155,030 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 1,628,745 |
Blu Investments LLC | 5/21/20 | 36,484 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 799,267 |
ByteDance Ltd. Series E1 | 11/18/20 | 4,156,368 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 1,003,200 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 1,602,374 |
Delphix Corp. Series D | 7/10/15 | 2,095,695 |
Discord, Inc. Series I | 9/15/21 | 440,500 |
ElevateBio LLC Series C | 3/09/21 | 815,928 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 4,082,500 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 4,645,244 |
GoBrands, Inc. Series G | 3/02/21 | 834,056 |
GoBrands, Inc. Series H | 7/22/21 | 1,542,308 |
Lyra Health, Inc. Series E | 1/14/21 | 730,697 |
Lyra Health, Inc. Series F | 6/04/21 | 64,372 |
Moloco, Inc. Series A | 6/26/23 | 2,126,520 |
Nuro, Inc. Series C | 10/30/20 | 2,484,160 |
Nuro, Inc. Series D | 10/29/21 | 765,788 |
Rad Power Bikes, Inc. | 1/21/21 | 703,890 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 91,769 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 361,098 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 1,223,851 |
Reddit, Inc. Series E | 5/18/21 | 407,752 |
Reddit, Inc. Series F | 8/11/21 | 3,083,293 |
Relativity Space, Inc. Series E | 5/27/21 | 2,861,010 |
Somatus, Inc. Series E | 1/31/22 | 734,759 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 2/16/21 | 3,185,238 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 105,705 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 2,824,191 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 979,560 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 6,629,040 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 3,151,959 |
Stripe, Inc. Class B | 5/18/21 | 1,071,428 |
Stripe, Inc. Series H | 3/15/21 | 461,438 |
Stripe, Inc. Series I | 3/20/23 - 5/12/23 | 2,578,680 |
Tanium, Inc. Class B | 4/21/17 - 9/18/20 | 3,439,433 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 731,288 |
Tenstorrent, Inc. 0% | 4/23/21 | 680,000 |
TulCo LLC | 8/24/17 - 12/14/17 | 2,643,700 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 12/16/22 | 2,307,320 |
Zipline International, Inc. | 10/12/21 | 1,037,880 |
Zipline International, Inc. Series E | 12/21/20 | 2,156,281 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 440,690,320 | 1,332,094,349 | 1,431,935,082 | 7,977,501 | - | - | 340,849,587 | 0.9% |
Fidelity Securities Lending Cash Central Fund 5.14% | 6,128,103 | 149,324,507 | 147,508,807 | 14,223 | - | - | 7,943,803 | 0.0% |
Total | 446,818,423 | 1,481,418,856 | 1,579,443,889 | 7,991,724 | - | - | 348,793,390 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,387,563,727 | 1,371,941,081 | - | 15,622,646 |
Consumer Discretionary | 784,483,276 | 738,534,945 | 34,129,085 | 11,819,246 |
Consumer Staples | 261,916,945 | 238,440,458 | 22,700,040 | 776,447 |
Energy | 647,182,808 | 647,182,808 | - | - |
Financials | 1,126,930,255 | 1,106,361,909 | 5,623,118 | 14,945,228 |
Health Care | 1,302,592,274 | 1,292,819,582 | 3,505,009 | 6,267,683 |
Industrials | 723,336,556 | 634,244,978 | 2,979,122 | 86,112,456 |
Information Technology | 2,250,546,558 | 2,229,691,875 | 3,567,427 | 17,287,256 |
Materials | 305,945,621 | 302,459,407 | 3,486,214 | - |
Real Estate | 1,371,420 | 1,371,420 | - | - |
Utilities | 18,878,157 | 18,878,157 | - | - |
Preferred Securities | 674,560 | - | - | 674,560 |
Money Market Funds | 348,793,390 | 348,793,390 | - | - |
Total Investments in Securities: | 9,160,215,547 | 8,930,720,010 | 75,990,015 | 153,505,522 |
Investments in Securities: | |||
Beginning Balance | $ | 138,926,567 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 4,646,518 | ||
Cost of Purchases | 9,932,437 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 153,505,522 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2023 | $ | 4,646,518 | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions, corporate actions or exchanges. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
June 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $7,741,421) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,095,780,424) | $ | 8,811,422,157 | ||
Fidelity Central Funds (cost $348,793,390) | 348,793,390 | |||
Total Investment in Securities (cost $5,444,573,814) | $ | 9,160,215,547 | ||
Restricted cash | 61,365 | |||
Foreign currency held at value (cost $904,362) | 904,374 | |||
Receivable for investments sold | 905,922 | |||
Receivable for fund shares sold | 10,116 | |||
Dividends receivable | 4,541,527 | |||
Distributions receivable from Fidelity Central Funds | 1,282,955 | |||
Other receivables | 42,653 | |||
Total assets | 9,167,964,459 | |||
Liabilities | ||||
Payable for investments purchased | $ | 24,900,777 | ||
Payable for fund shares redeemed | 144,761,899 | |||
Other payables and accrued expenses | 945,683 | |||
Collateral on securities loaned | 7,940,825 | |||
Total Liabilities | 178,549,184 | |||
Net Assets | $ | 8,989,415,275 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,290,858,101 | ||
Total accumulated earnings (loss) | 3,698,557,174 | |||
Net Assets | $ | 8,989,415,275 | ||
Net Asset Value , offering price and redemption price per share ($8,989,415,275 ÷ 523,412,743 shares) | $ | 17.17 |
Statement of Operations | ||||
Six months ended June 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 50,387,964 | ||
Income from Fidelity Central Funds (including $14,223 from security lending) | 7,991,724 | |||
Total Income | 58,379,688 | |||
Expenses | ||||
Custodian fees and expenses | $ | 66,785 | ||
Independent trustees' fees and expenses | 26,336 | |||
Total expenses before reductions | 93,121 | |||
Expense reductions | (2,073) | |||
Total expenses after reductions | 91,048 | |||
Net Investment income (loss) | 58,288,640 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (26,317,143) | |||
Foreign currency transactions | (91,879) | |||
Total net realized gain (loss) | (26,409,022) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of increase in deferred foreign taxes of $46,673) | 1,542,623,762 | |||
Unfunded commitments | 309,148 | |||
Assets and liabilities in foreign currencies | (6,320) | |||
Total change in net unrealized appreciation (depreciation) | 1,542,926,590 | |||
Net gain (loss) | 1,516,517,568 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,574,806,208 |
Statement of Changes in Net Assets | ||||
Six months ended June 30, 2023 (Unaudited) | Year ended December 31, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 58,288,640 | $ | 91,855,692 |
Net realized gain (loss) | (26,409,022) | 321,739,744 | ||
Change in net unrealized appreciation (depreciation) | 1,542,926,590 | (2,587,093,534) | ||
Net increase (decrease) in net assets resulting from operations | 1,574,806,208 | (2,173,498,098) | ||
Distributions to shareholders | - | (568,513,318) | ||
Share transactions | ||||
Proceeds from sales of shares | 464,866,821 | 3,429,424,120 | ||
Reinvestment of distributions | - | 568,513,318 | ||
Cost of shares redeemed | (1,118,490,994) | (1,208,298,984) | ||
Net increase (decrease) in net assets resulting from share transactions | (653,624,173) | 2,789,638,454 | ||
Total increase (decrease) in net assets | 921,182,035 | 47,627,038 | ||
Net Assets | ||||
Beginning of period | 8,068,233,240 | 8,020,606,202 | ||
End of period | $ | 8,989,415,275 | $ | 8,068,233,240 |
Other Information | ||||
Shares | ||||
Sold | 30,225,518 | 215,811,257 | ||
Issued in reinvestment of distributions | - | 36,485,463 | ||
Redeemed | (70,539,802) | (75,287,602) | ||
Net increase (decrease) | (40,314,284) | 177,009,118 | ||
Fidelity® Series Opportunistic Insights Fund |
Six months ended (Unaudited) June 30, 2023 | Years ended December 31, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.31 | $ | 20.74 | $ | 20.25 | $ | 18.10 | $ | 15.18 | $ | 17.32 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .11 | .20 | .14 | .12 | .15 | .15 | ||||||
Net realized and unrealized gain (loss) | 2.75 | (5.44) | 4.79 | 5.36 | 4.43 | (.42) | ||||||
Total from investment operations | 2.86 | (5.24) | 4.93 | 5.48 | 4.58 | (.27) | ||||||
Distributions from net investment income | - | (.18) | (.20) | (.16) | (.15) | (.13) | ||||||
Distributions from net realized gain | - | (1.00) | (4.24) | (3.18) | (1.51) | (1.75) | ||||||
Total distributions | - | (1.19) C | (4.44) | (3.33) C | (1.66) | (1.87) C | ||||||
Net asset value, end of period | $ | 17.17 | $ | 14.31 | $ | 20.74 | $ | 20.25 | $ | 18.10 | $ | 15.18 |
Total Return D,E | 19.99% | (25.73)% | 24.81% | 31.18% | 30.53% | (1.87)% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | -% H | -% | -% | -% | -% | -% | ||||||
Expenses net of fee waivers, if any | -% H | -% | -% | -% | -% | -% | ||||||
Expenses net of all reductions | -% H | -% | -% | -% | -% | -% | ||||||
Net investment income (loss) | 1.35% H | 1.23% | .61% | .61% | .81% | .80% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 8,989,415 | $ | 8,068,233 | $ | 8,020,606 | $ | 7,673,290 | $ | 6,899,733 | $ | 6,419,232 |
Portfolio turnover rate I | 37% H | 36% | 43% | 33% | 27% J | 32% K |
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% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $152,830,962 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 22.0 / 14.3 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.3 - 43.7 / 11.7 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 14.5 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.17 / $0.16 | Increase | ||
Market approach | Transaction price | $59.45 - $60.00 / $59.86 | Increase | ||
Premium rate | 10% | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29% | Decrease | ||
Exit multiple | 1.8 | Increase | |||
Black scholes | Discount rate | 4.0% - 4.7% / 4.3% | Increase | ||
Volatility | 70.0% - 80.0% / 73.2% | Increase | |||
Term | 2.0 - 5.0 / 3.5 | Increase | |||
Preferred Securities | $674,560 | Market approach | Transaction price | 59.45 | Increase |
Premium rate | 10% | Increase | |||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 70% | Increase | |||
Term | 2 | Increase |
Gross unrealized appreciation | $3,815,038,296 |
Gross unrealized depreciation | (130,817,776) |
Net unrealized appreciation (depreciation) | $3,684,220,520 |
Tax cost | $5,475,995,027 |
$ Amount | % of Net Assets | |
Fidelity Series Opportunistic Insights Fund | 9,818,307 | .11 |
Purchases ($) | Sales ($) | |
Fidelity Series Opportunistic Insights Fund | 1,530,846,815 | 1,679,265,306 |
Amount | |
Fidelity Series Opportunistic Insights Fund | $23,118 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Opportunistic Insights Fund | 53,651,899 | 79,247,975 | 1,952,435 |
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 Opportunistic Insights Fund | $1,488 | $- | $- |
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 Opportunistic Insights Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,199.90 | $- 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
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Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
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 Fidelity Contrafund’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Contrafund’s (the “Trust”) 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) | Not applicable. |
(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 Contrafund
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 |