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, 2024 |
Item 1.
Reports to Stockholders
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Series Opportunistic Insights Fund Fidelity® Series Opportunistic Insights Fund : FVWSX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Series Opportunistic Insights Fund | $ 0 A | 0.00%B |
KEY FACTS | ||
Fund Size | $10,875,480,742 | |
Number of Holdings | 354 | |
Portfolio Turnover | 19% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 27.9 | |
Communication Services | 19.8 | |
Financials | 13.8 | |
Health Care | 12.4 | |
Consumer Discretionary | 10.5 | |
Industrials | 8.8 | |
Energy | 1.8 | |
Consumer Staples | 1.7 | |
Materials | 1.5 | |
Utilities | 0.5 | |
Common Stocks | 97.7 |
Preferred Stocks | 1.0 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.3 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 94.5 |
Canada | 2.3 |
Netherlands | 0.5 |
Korea (South) | 0.3 |
Italy | 0.3 |
Switzerland | 0.3 |
Taiwan | 0.3 |
Japan | 0.2 |
United Kingdom | 0.2 |
Others | 1.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 12.1 | |
NVIDIA Corp | 10.0 | |
Microsoft Corp | 5.8 | |
Berkshire Hathaway Inc Class A | 5.7 | |
Amazon.com Inc | 5.3 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.8 | |
Regeneron Pharmaceuticals Inc | 2.6 | |
Vertex Pharmaceuticals Inc | 2.6 | |
Netflix Inc | 2.4 | |
52.6 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916152.100 2459-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity Advisor® New Insights Fund Fidelity Advisor® New Insights Fund Class A : FNIAX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class A | $ 51 | 0.91% |
KEY FACTS | ||
Fund Size | $21,213,878,625 | |
Number of Holdings | 435 | |
Portfolio Turnover | 14% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Communication Services | 20.0 | |
Financials | 12.8 | |
Health Care | 10.8 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.3 | |
Energy | 2.5 | |
Materials | 2.2 | |
Consumer Staples | 1.4 | |
Utilities | 1.1 | |
Real Estate | 0.0 | |
Common Stocks | 97.5 |
Preferred Stocks | 1.9 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 92.6 |
Canada | 2.4 |
Netherlands | 0.7 |
Taiwan | 0.6 |
United Kingdom | 0.6 |
Korea (South) | 0.5 |
Italy | 0.5 |
China | 0.4 |
India | 0.3 |
Others | 1.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 10.8 | |
NVIDIA Corp | 9.3 | |
Microsoft Corp | 7.8 | |
Alphabet Inc Class A | 6.3 | |
Amazon.com Inc | 5.4 | |
Berkshire Hathaway Inc Class A | 4.7 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.6 | |
Netflix Inc | 2.0 | |
Regeneron Pharmaceuticals | 1.9 | |
54.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916051.100 1277-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity Advisor® New Insights Fund Fidelity Advisor® New Insights Fund Class Z : FZANX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class Z | $ 30 | 0.54% |
KEY FACTS | ||
Fund Size | $21,213,878,625 | |
Number of Holdings | 435 | |
Portfolio Turnover | 14% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Communication Services | 20.0 | |
Financials | 12.8 | |
Health Care | 10.8 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.3 | |
Energy | 2.5 | |
Materials | 2.2 | |
Consumer Staples | 1.4 | |
Utilities | 1.1 | |
Real Estate | 0.0 | |
Common Stocks | 97.5 |
Preferred Stocks | 1.9 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 92.6 |
Canada | 2.4 |
Netherlands | 0.7 |
Taiwan | 0.6 |
United Kingdom | 0.6 |
Korea (South) | 0.5 |
Italy | 0.5 |
China | 0.4 |
India | 0.3 |
Others | 1.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 10.8 | |
NVIDIA Corp | 9.3 | |
Microsoft Corp | 7.8 | |
Alphabet Inc Class A | 6.3 | |
Amazon.com Inc | 5.4 | |
Berkshire Hathaway Inc Class A | 4.7 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.6 | |
Netflix Inc | 2.0 | |
Regeneron Pharmaceuticals | 1.9 | |
54.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916055.100 2539-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Contrafund® K6 Fidelity® Contrafund® K6 : FLCNX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Contrafund® K6 | $ 25 | 0.45% |
KEY FACTS | ||
Fund Size | $35,374,886,492 | |
Number of Holdings | 371 | |
Portfolio Turnover | 20% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 27.9 | |
Communication Services | 20.3 | |
Financials | 14.5 | |
Health Care | 11.6 | |
Consumer Discretionary | 10.2 | |
Industrials | 6.4 | |
Energy | 2.4 | |
Consumer Staples | 2.1 | |
Materials | 1.9 | |
Utilities | 0.5 | |
Common Stocks | 97.0 |
Preferred Stocks | 0.8 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 2.2 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 94.8 |
Canada | 2.3 |
Korea (South) | 0.3 |
Switzerland | 0.3 |
Netherlands | 0.3 |
Taiwan | 0.3 |
United Kingdom | 0.2 |
Brazil | 0.2 |
Japan | 0.2 |
Others | 1.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 12.9 | |
NVIDIA Corp | 9.0 | |
Berkshire Hathaway Inc Class A | 6.9 | |
Microsoft Corp | 6.7 | |
Amazon.com Inc | 5.5 | |
Eli Lilly & Co | 3.6 | |
Apple Inc | 3.5 | |
Alphabet Inc Class A | 2.7 | |
Alphabet Inc Class C | 2.2 | |
Regeneron Pharmaceuticals Inc | 2.1 | |
55.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916167.100 2946-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Contrafund® Fidelity® Contrafund® Class K : FCNKX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class K | $ 32 | 0.57% |
KEY FACTS | ||
Fund Size | $143,273,299,484 | |
Number of Holdings | 375 | |
Portfolio Turnover | 18% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 27.0 | |
Communication Services | 21.9 | |
Financials | 15.5 | |
Health Care | 11.0 | |
Consumer Discretionary | 11.0 | |
Industrials | 6.5 | |
Energy | 2.0 | |
Consumer Staples | 1.9 | |
Materials | 1.7 | |
Utilities | 0.5 | |
Common Stocks | 97.6 |
Preferred Stocks | 1.4 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 94.9 |
Canada | 2.1 |
Switzerland | 0.4 |
Korea (South) | 0.3 |
Netherlands | 0.3 |
Taiwan | 0.3 |
United Kingdom | 0.2 |
Brazil | 0.2 |
Japan | 0.2 |
Others | 1.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 14.6 | |
NVIDIA Corp | 8.7 | |
Berkshire Hathaway Inc Class A | 8.0 | |
Microsoft Corp | 6.8 | |
Amazon.com Inc | 6.5 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 3.2 | |
Alphabet Inc Class A | 2.6 | |
Alphabet Inc Class C | 2.2 | |
Regeneron Pharmaceuticals Inc | 2.0 | |
57.9 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9915929.100 2080-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity® Contrafund® Fidelity® Contrafund® : FCNTX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Contrafund® | $ 36 | 0.64% |
KEY FACTS | ||
Fund Size | $143,273,299,484 | |
Number of Holdings | 375 | |
Portfolio Turnover | 18% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 27.0 | |
Communication Services | 21.9 | |
Financials | 15.5 | |
Health Care | 11.0 | |
Consumer Discretionary | 11.0 | |
Industrials | 6.5 | |
Energy | 2.0 | |
Consumer Staples | 1.9 | |
Materials | 1.7 | |
Utilities | 0.5 | |
Common Stocks | 97.6 |
Preferred Stocks | 1.4 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 94.9 |
Canada | 2.1 |
Switzerland | 0.4 |
Korea (South) | 0.3 |
Netherlands | 0.3 |
Taiwan | 0.3 |
United Kingdom | 0.2 |
Brazil | 0.2 |
Japan | 0.2 |
Others | 1.1 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 14.6 | |
NVIDIA Corp | 8.7 | |
Berkshire Hathaway Inc Class A | 8.0 | |
Microsoft Corp | 6.8 | |
Amazon.com Inc | 6.5 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 3.2 | |
Alphabet Inc Class A | 2.6 | |
Alphabet Inc Class C | 2.2 | |
Regeneron Pharmaceuticals Inc | 2.0 | |
57.9 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9915930.100 22-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity Advisor® New Insights Fund Fidelity Advisor® New Insights Fund Class I : FINSX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class I | $ 37 | 0.65% |
KEY FACTS | ||
Fund Size | $21,213,878,625 | |
Number of Holdings | 435 | |
Portfolio Turnover | 14% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Communication Services | 20.0 | |
Financials | 12.8 | |
Health Care | 10.8 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.3 | |
Energy | 2.5 | |
Materials | 2.2 | |
Consumer Staples | 1.4 | |
Utilities | 1.1 | |
Real Estate | 0.0 | |
Common Stocks | 97.5 |
Preferred Stocks | 1.9 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 92.6 |
Canada | 2.4 |
Netherlands | 0.7 |
Taiwan | 0.6 |
United Kingdom | 0.6 |
Korea (South) | 0.5 |
Italy | 0.5 |
China | 0.4 |
India | 0.3 |
Others | 1.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 10.8 | |
NVIDIA Corp | 9.3 | |
Microsoft Corp | 7.8 | |
Alphabet Inc Class A | 6.3 | |
Amazon.com Inc | 5.4 | |
Berkshire Hathaway Inc Class A | 4.7 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.6 | |
Netflix Inc | 2.0 | |
Regeneron Pharmaceuticals | 1.9 | |
54.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916054.100 1281-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity Advisor® New Insights Fund Fidelity Advisor® New Insights Fund Class C : FNICX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class C | $ 92 | 1.66% |
KEY FACTS | ||
Fund Size | $21,213,878,625 | |
Number of Holdings | 435 | |
Portfolio Turnover | 14% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Communication Services | 20.0 | |
Financials | 12.8 | |
Health Care | 10.8 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.3 | |
Energy | 2.5 | |
Materials | 2.2 | |
Consumer Staples | 1.4 | |
Utilities | 1.1 | |
Real Estate | 0.0 | |
Common Stocks | 97.5 |
Preferred Stocks | 1.9 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 92.6 |
Canada | 2.4 |
Netherlands | 0.7 |
Taiwan | 0.6 |
United Kingdom | 0.6 |
Korea (South) | 0.5 |
Italy | 0.5 |
China | 0.4 |
India | 0.3 |
Others | 1.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 10.8 | |
NVIDIA Corp | 9.3 | |
Microsoft Corp | 7.8 | |
Alphabet Inc Class A | 6.3 | |
Amazon.com Inc | 5.4 | |
Berkshire Hathaway Inc Class A | 4.7 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.6 | |
Netflix Inc | 2.0 | |
Regeneron Pharmaceuticals | 1.9 | |
54.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916052.100 1279-TSRS-0824 |
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF JUNE 30, 2024 | ||
| Fidelity Advisor® New Insights Fund Fidelity Advisor® New Insights Fund Class M : FNITX | |
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class M | $ 65 | 1.16% |
KEY FACTS | ||
Fund Size | $21,213,878,625 | |
Number of Holdings | 435 | |
Portfolio Turnover | 14% |
(as of June 30, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 28.5 | |
Communication Services | 20.0 | |
Financials | 12.8 | |
Health Care | 10.8 | |
Consumer Discretionary | 10.8 | |
Industrials | 9.3 | |
Energy | 2.5 | |
Materials | 2.2 | |
Consumer Staples | 1.4 | |
Utilities | 1.1 | |
Real Estate | 0.0 | |
Common Stocks | 97.5 |
Preferred Stocks | 1.9 |
Preferred Securities | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.6 |
ASSET ALLOCATION (% of Fund's net assets) |
![]() |
United States | 92.6 |
Canada | 2.4 |
Netherlands | 0.7 |
Taiwan | 0.6 |
United Kingdom | 0.6 |
Korea (South) | 0.5 |
Italy | 0.5 |
China | 0.4 |
India | 0.3 |
Others | 1.4 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
![]() |
TOP HOLDINGS (% of Fund's net assets) | ||
Meta Platforms Inc Class A | 10.8 | |
NVIDIA Corp | 9.3 | |
Microsoft Corp | 7.8 | |
Alphabet Inc Class A | 6.3 | |
Amazon.com Inc | 5.4 | |
Berkshire Hathaway Inc Class A | 4.7 | |
Eli Lilly & Co | 3.3 | |
Apple Inc | 2.6 | |
Netflix Inc | 2.0 | |
Regeneron Pharmaceuticals | 1.9 | |
54.1 | ||
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
![]() | ![]() | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec 1.9916053.100 1280-TSRS-0824 |
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.
Financial Statements and Financial Highlights for Open-End Management Investment Companies
![](https://capedge.com/proxy/N-CSRS/0000024238-24-000038/img99799_1.jpg)
![](https://capedge.com/proxy/N-CSRS/0000024238-24-000038/img99799_2.jpg)
Contents
Common Stocks - 97.4% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 19.9% | |||
Entertainment - 2.5% | |||
Liberty Media Corp. Liberty Formula One Class C | 356,276 | 25,595 | |
Liberty Media Corp. Liberty Live Class C | 17,816 | 682 | |
Lionsgate Studios Corp. (a) | 192,194 | 1,549 | |
Netflix, Inc. (b) | 636,790 | 429,757 | |
Sea Ltd. ADR Class A (b) | 217,580 | 15,540 | |
Spotify Technology SA (b) | 13,000 | 4,079 | |
The Walt Disney Co. | 157,300 | 15,618 | |
Universal Music Group NV | 950,129 | 28,265 | |
521,085 | |||
Interactive Media & Services - 17.1% | |||
Alphabet, Inc. Class A | 7,282,020 | 1,326,420 | |
Bumble, Inc. (b) | 197,784 | 2,079 | |
Epic Games, Inc. (a)(b)(c) | 23,900 | 14,340 | |
Match Group, Inc. (b) | 77,400 | 2,351 | |
Meta Platforms, Inc. Class A | 4,503,416 | 2,270,707 | |
Pinterest, Inc. Class A (b) | 87,300 | 3,847 | |
Reddit, Inc.: | |||
Class A (d) | 95,700 | 6,114 | |
Class B (l) | 157,749 | 10,079 | |
3,635,937 | |||
Wireless Telecommunication Services - 0.3% | |||
T-Mobile U.S., Inc. | 328,200 | 57,822 | |
TOTAL COMMUNICATION SERVICES | 4,214,844 | ||
CONSUMER DISCRETIONARY - 10.8% | |||
Automobiles - 0.2% | |||
BYD Co. Ltd. (H Shares) | 95,000 | 2,821 | |
General Motors Co. | 216,940 | 10,079 | |
Hyundai Motor Co. Ltd. | 99,857 | 21,346 | |
Li Auto, Inc. ADR (b)(d) | 89,800 | 1,606 | |
Rad Power Bikes, Inc. (a)(b)(c) | 474,452 | 119 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 488,383 | 757 | |
Toyota Motor Corp. | 157,102 | 3,223 | |
39,951 | |||
Broadline Retail - 5.6% | |||
Amazon.com, Inc. (b) | 5,907,300 | 1,141,586 | |
Coupang, Inc. Class A (b) | 976,865 | 20,465 | |
Dollarama, Inc. | 79,672 | 7,274 | |
JD.com, Inc. sponsored ADR | 89,100 | 2,302 | |
MercadoLibre, Inc. (b) | 9,500 | 15,612 | |
Pan Pacific International Holdings Ltd. | 52,300 | 1,223 | |
PDD Holdings, Inc. ADR (b) | 46,000 | 6,116 | |
1,194,578 | |||
Diversified Consumer Services - 0.1% | |||
Duolingo, Inc. (b) | 48,465 | 10,113 | |
Hotels, Restaurants & Leisure - 1.4% | |||
Airbnb, Inc. Class A (b) | 381,696 | 57,877 | |
Booking Holdings, Inc. | 7,500 | 29,711 | |
Cava Group, Inc. (d) | 143,400 | 13,300 | |
Chipotle Mexican Grill, Inc. (b) | 641,350 | 40,181 | |
Deliveroo PLC Class A (b)(e) | 1,945,220 | 3,219 | |
Domino's Pizza, Inc. | 9,800 | 5,060 | |
Doordash, Inc. (b) | 15,000 | 1,632 | |
Dutch Bros, Inc. (b) | 62,700 | 2,596 | |
Hilton Worldwide Holdings, Inc. | 572,268 | 124,869 | |
Marriott International, Inc. Class A | 16,100 | 3,892 | |
Misa Investments Ltd. | 115,500 | 3,920 | |
Restaurant Brands International, Inc. | 104,300 | 7,350 | |
Zomato Ltd. (b) | 2,766,561 | 6,656 | |
300,263 | |||
Household Durables - 0.5% | |||
Blu Investments LLC (a)(b)(c) | 98,215,581 | 30 | |
D.R. Horton, Inc. | 198,275 | 27,943 | |
Garmin Ltd. | 20,341 | 3,314 | |
Lennar Corp. Class A | 373,568 | 55,987 | |
PulteGroup, Inc. | 32,300 | 3,556 | |
TopBuild Corp. (b) | 21,200 | 8,168 | |
98,998 | |||
Specialty Retail - 2.0% | |||
Abercrombie & Fitch Co. Class A (b) | 41,300 | 7,345 | |
Auto1 Group SE (b)(e) | 51,600 | 336 | |
Dick's Sporting Goods, Inc. | 81,345 | 17,477 | |
Fanatics, Inc. Class A (a)(b)(c) | 372,921 | 25,340 | |
Fast Retailing Co. Ltd. | 20,900 | 5,286 | |
Floor & Decor Holdings, Inc. Class A (b)(d) | 127,700 | 12,695 | |
FSN E-Commerce Ventures Ltd. (b) | 10,674 | 23 | |
Gap, Inc. | 388,230 | 9,275 | |
Group 1 Automotive, Inc. | 900 | 268 | |
Industria de Diseno Textil SA | 26,100 | 1,295 | |
Lowe's Companies, Inc. | 387,500 | 85,428 | |
O'Reilly Automotive, Inc. (b) | 51,171 | 54,040 | |
Ross Stores, Inc. | 40,300 | 5,856 | |
The Home Depot, Inc. | 147,300 | 50,707 | |
TJX Companies, Inc. | 991,603 | 109,175 | |
Wayfair LLC Class A (b) | 84,161 | 4,438 | |
Williams-Sonoma, Inc. | 154,985 | 43,763 | |
432,747 | |||
Textiles, Apparel & Luxury Goods - 1.0% | |||
adidas AG | 40,000 | 9,553 | |
Asics Corp. | 110,400 | 1,702 | |
Birkenstock Holding PLC | 20,100 | 1,094 | |
Bolt Threads, Inc. (a)(c) | 195,249 | 467 | |
Brunello Cucinelli SpA | 692,800 | 69,373 | |
Canva, Inc. Class A (a)(c) | 11,950 | 12,747 | |
China Hongxing Sports Ltd. (b)(c) | 5,977,800 | 0 | |
Crocs, Inc. (b) | 28,200 | 4,116 | |
Deckers Outdoor Corp. (b) | 20,982 | 20,310 | |
lululemon athletica, Inc. (b) | 34,444 | 10,288 | |
LVMH Moet Hennessy Louis Vuitton SE | 15,400 | 11,824 | |
On Holding AG (b) | 597,100 | 23,167 | |
Prada SpA | 171,100 | 1,280 | |
Ralph Lauren Corp. Class A | 89,700 | 15,703 | |
Samsonite International SA (e) | 4,331,100 | 12,923 | |
Tapestry, Inc. | 444,929 | 19,039 | |
213,586 | |||
TOTAL CONSUMER DISCRETIONARY | 2,290,236 | ||
CONSUMER STAPLES - 1.4% | |||
Beverages - 0.5% | |||
Kweichow Moutai Co. Ltd. (A Shares) | 4,200 | 848 | |
The Coca-Cola Co. | 1,560,618 | 99,333 | |
100,181 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Alimentation Couche-Tard, Inc. (multi-vtg.) | 364,700 | 20,466 | |
Casey's General Stores, Inc. | 38,500 | 14,690 | |
Costco Wholesale Corp. | 151,400 | 128,688 | |
Maplebear, Inc. (NASDAQ) | 16,100 | 517 | |
Walmart, Inc. | 59,000 | 3,995 | |
168,356 | |||
Food Products - 0.0% | |||
Ajinomoto Co., Inc. | 32,900 | 1,158 | |
Bowery Farming, Inc. (b)(c) | 466,405 | 9 | |
Bowery Farming, Inc. warrants (a)(b)(c) | 383,862 | 8 | |
1,175 | |||
Household Products - 0.1% | |||
Procter & Gamble Co. | 92,500 | 15,255 | |
Personal Care Products - 0.0% | |||
AMOREPACIFIC Corp. | 11,310 | 1,371 | |
L'Oreal SA | 27,112 | 11,934 | |
Oddity Tech Ltd. | 10,300 | 404 | |
13,709 | |||
TOTAL CONSUMER STAPLES | 298,676 | ||
ENERGY - 2.5% | |||
Energy Equipment & Services - 0.0% | |||
Noble Corp. PLC | 4,432 | 198 | |
TechnipFMC PLC | 57,200 | 1,496 | |
1,694 | |||
Oil, Gas & Consumable Fuels - 2.5% | |||
Antero Resources Corp. (b) | 542,400 | 17,699 | |
ARC Resources Ltd. | 66,500 | 1,187 | |
Cameco Corp. | 256,600 | 12,625 | |
Cameco Corp. | 22,700 | 1,117 | |
Canadian Natural Resources Ltd. | 2,015,976 | 71,809 | |
Cenovus Energy, Inc. (d) | 687,700 | 13,520 | |
Cenovus Energy, Inc. (Canada) | 59,700 | 1,173 | |
Cheniere Energy, Inc. | 478,100 | 83,586 | |
Diamondback Energy, Inc. | 32,643 | 6,535 | |
EOG Resources, Inc. | 37,006 | 4,658 | |
Exxon Mobil Corp. | 1,473,407 | 169,619 | |
GoviEx Uranium, Inc. (b)(d) | 642,355 | 38 | |
GoviEx Uranium, Inc. (b)(e) | 23,200 | 1 | |
GoviEx Uranium, Inc. Class A (b)(e) | 2,625,135 | 154 | |
Hess Corp. | 365,997 | 53,992 | |
Marathon Petroleum Corp. | 120,500 | 20,904 | |
Occidental Petroleum Corp. | 288,161 | 18,163 | |
Ovintiv, Inc. | 122,600 | 5,746 | |
Phillips 66 Co. | 32,200 | 4,546 | |
PrairieSky Royalty Ltd. | 107,200 | 2,037 | |
Reliance Industries Ltd. | 277,931 | 10,438 | |
Sable Offshore Corp. (a) | 460,290 | 6,937 | |
Shell PLC ADR | 109,000 | 7,868 | |
Valero Energy Corp. | 115,700 | 18,137 | |
532,489 | |||
TOTAL ENERGY | 534,183 | ||
FINANCIALS - 12.6% | |||
Banks - 2.9% | |||
AIB Group PLC | 1,046,200 | 5,530 | |
Banco Santander SA (Spain) | 1,348,100 | 6,272 | |
Bank of America Corp. | 2,781,765 | 110,631 | |
Bank of Ireland Group PLC | 357,600 | 3,741 | |
Citigroup, Inc. | 293,900 | 18,651 | |
East West Bancorp, Inc. | 15,400 | 1,128 | |
First Citizens Bancshares, Inc. | 6,500 | 10,943 | |
HDFC Bank Ltd. sponsored ADR | 643,371 | 41,388 | |
JPMorgan Chase & Co. | 726,959 | 147,035 | |
Nu Holdings Ltd. Class A (b) | 1,298,766 | 16,741 | |
Royal Bank of Canada | 115,660 | 12,314 | |
Starling Bank Ltd. Series D (a)(b)(c) | 3,787,848 | 14,700 | |
Wells Fargo & Co. | 3,849,816 | 228,641 | |
617,715 | |||
Capital Markets - 0.6% | |||
Blackstone, Inc. | 36,200 | 4,482 | |
Brookfield Asset Management Ltd.: | |||
Class A | 5,622 | 214 | |
Class A | 235,300 | 8,953 | |
Brookfield Corp. (Canada) Class A | 37,400 | 1,556 | |
Coinbase Global, Inc. (b) | 45,100 | 10,023 | |
Goldman Sachs Group, Inc. | 28,900 | 13,072 | |
Interactive Brokers Group, Inc. | 20,500 | 2,513 | |
KKR & Co. LP | 65,000 | 6,841 | |
London Stock Exchange Group PLC | 71,700 | 8,502 | |
Moody's Corp. | 17,930 | 7,547 | |
Morgan Stanley | 190,653 | 18,530 | |
MSCI, Inc. | 32,519 | 15,666 | |
Raymond James Financial, Inc. | 3,500 | 433 | |
TulCo LLC (a)(b)(c)(f) | 17,377 | 12,282 | |
UBS Group AG | 412,770 | 12,152 | |
122,766 | |||
Consumer Finance - 0.3% | |||
American Express Co. | 239,008 | 55,342 | |
Capital One Financial Corp. | 48,100 | 6,659 | |
Discover Financial Services | 35,800 | 4,683 | |
66,684 | |||
Financial Services - 6.7% | |||
Berkshire Hathaway, Inc. Class A (b) | 1,586 | 971,014 | |
Block, Inc. Class A (b) | 26,867 | 1,733 | |
Fiserv, Inc. (b) | 163,300 | 24,338 | |
Jio Financial Services Ltd. | 224,200 | 963 | |
MasterCard, Inc. Class A | 540,400 | 238,403 | |
PayPal Holdings, Inc. (b) | 109,700 | 6,366 | |
Toast, Inc. (b) | 46,100 | 1,188 | |
Visa, Inc. Class A | 695,900 | 182,653 | |
1,426,658 | |||
Insurance - 2.1% | |||
American International Group, Inc. | 531,226 | 39,438 | |
Arthur J. Gallagher & Co. | 266,700 | 69,158 | |
Chubb Ltd. | 475,207 | 121,216 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 49,167 | 55,934 | |
Hiscox Ltd. | 2,665,843 | 38,754 | |
Intact Financial Corp. | 145,412 | 24,236 | |
Marsh & McLennan Companies, Inc. | 129,837 | 27,359 | |
Progressive Corp. | 253,010 | 52,553 | |
The Travelers Companies, Inc. | 109,538 | 22,273 | |
450,921 | |||
TOTAL FINANCIALS | 2,684,744 | ||
HEALTH CARE - 10.8% | |||
Biotechnology - 3.3% | |||
Alnylam Pharmaceuticals, Inc. (b) | 57,884 | 14,066 | |
Apogee Therapeutics, Inc. | 39,200 | 1,543 | |
Argenx SE ADR (b) | 63,732 | 27,407 | |
Ascendis Pharma A/S sponsored ADR (b) | 29,200 | 3,982 | |
Blueprint Medicines Corp. (b) | 6,500 | 701 | |
Celldex Therapeutics, Inc. (b) | 160,200 | 5,929 | |
Cytokinetics, Inc. (b) | 42,200 | 2,286 | |
Dyne Therapeutics, Inc. (b) | 37,300 | 1,316 | |
Galapagos NV sponsored ADR (b) | 99,562 | 2,467 | |
Gilead Sciences, Inc. | 233,100 | 15,993 | |
Incyte Corp. (b) | 20,800 | 1,261 | |
Insmed, Inc. (b) | 23,600 | 1,581 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(b)(c) | 26,062 | 0 | |
Janux Therapeutics, Inc. (b) | 45,900 | 1,923 | |
Keros Therapeutics, Inc. (b) | 68,700 | 3,140 | |
Krystal Biotech, Inc. (b) | 1,300 | 239 | |
Legend Biotech Corp. ADR (b) | 245,500 | 10,873 | |
Light Sciences Oncology, Inc. (b)(c) | 2,708,254 | 0 | |
Moderna, Inc. (b) | 129,900 | 15,426 | |
Neurocrine Biosciences, Inc. (b) | 8,700 | 1,198 | |
Recursion Pharmaceuticals, Inc. Class A (b)(d) | 192,200 | 1,442 | |
Regeneron Pharmaceuticals, Inc. (b) | 372,099 | 391,087 | |
Sarepta Therapeutics, Inc. (b) | 6,100 | 964 | |
Vaxcyte, Inc. (b) | 69,300 | 5,233 | |
Vertex Pharmaceuticals, Inc. (b) | 419,446 | 196,603 | |
Viking Therapeutics, Inc. (b) | 25,900 | 1,373 | |
Xenon Pharmaceuticals, Inc. (b) | 78,500 | 3,061 | |
711,094 | |||
Health Care Equipment & Supplies - 1.5% | |||
Alcon, Inc. | 115,700 | 10,307 | |
Boston Scientific Corp. (b) | 1,848,608 | 142,361 | |
DexCom, Inc. (b) | 46,900 | 5,318 | |
EssilorLuxottica SA | 11,343 | 2,444 | |
I-Pulse, Inc. (a)(b)(c) | 58,562 | 158 | |
Intuitive Surgical, Inc. (b) | 214,151 | 95,265 | |
Straumann Holding AG | 16,995 | 2,105 | |
Stryker Corp. | 63,400 | 21,572 | |
The Cooper Companies, Inc. | 36,800 | 3,213 | |
TransMedics Group, Inc. (b) | 209,200 | 31,510 | |
314,253 | |||
Health Care Providers & Services - 1.1% | |||
Centene Corp. (b) | 467,000 | 30,962 | |
Cigna Group | 155,600 | 51,437 | |
Elevance Health, Inc. | 13,400 | 7,261 | |
Tenet Healthcare Corp. (b) | 57,100 | 7,596 | |
UnitedHealth Group, Inc. | 260,308 | 132,564 | |
229,820 | |||
Life Sciences Tools & Services - 0.7% | |||
Danaher Corp. | 407,989 | 101,936 | |
Mettler-Toledo International, Inc. (b) | 554 | 774 | |
Olink Holding AB ADR (b) | 162,700 | 4,146 | |
Thermo Fisher Scientific, Inc. | 55,132 | 30,488 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 184,081 | 10,101 | |
147,445 | |||
Pharmaceuticals - 4.2% | |||
AstraZeneca PLC (United Kingdom) | 212,900 | 33,134 | |
Eli Lilly & Co. | 760,183 | 688,254 | |
Euroapi SASU (b)(d) | 23,468 | 64 | |
Intra-Cellular Therapies, Inc. (b) | 142,317 | 9,747 | |
Merck & Co., Inc. | 843,892 | 104,474 | |
Novo Nordisk A/S Series B | 148,400 | 21,234 | |
Royalty Pharma PLC | 87,649 | 2,311 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) | 1,002,120 | 16,284 | |
UCB SA | 104,867 | 15,577 | |
891,079 | |||
TOTAL HEALTH CARE | 2,293,691 | ||
INDUSTRIALS - 7.7% | |||
Aerospace & Defense - 3.1% | |||
Axon Enterprise, Inc. (b) | 21,200 | 6,238 | |
BWX Technologies, Inc. | 47,900 | 4,551 | |
General Dynamics Corp. | 12,500 | 3,627 | |
General Electric Co. | 825,303 | 131,198 | |
Howmet Aerospace, Inc. | 336,300 | 26,107 | |
Loar Holdings, Inc. (d) | 24,100 | 1,287 | |
Northrop Grumman Corp. | 133,630 | 58,256 | |
Relativity Space, Inc. warrants (a)(b)(c) | 9,464 | 154 | |
Rolls-Royce Holdings PLC (b) | 1,660,800 | 9,538 | |
Space Exploration Technologies Corp. (a)(b)(c) | 2,573,450 | 288,226 | |
Space Exploration Technologies Corp. Class C (a)(b)(c) | 45,460 | 5,092 | |
TransDigm Group, Inc. | 95,962 | 122,602 | |
Woodward, Inc. | 34,100 | 5,946 | |
662,822 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. (b) | 444,255 | 2,133 | |
GXO Logistics, Inc. (b) | 416,470 | 21,032 | |
Zipline International, Inc. (a)(b)(c) | 74,930 | 3,143 | |
26,308 | |||
Building Products - 0.3% | |||
Carrier Global Corp. | 100,900 | 6,365 | |
The AZEK Co., Inc. Class A, (b) | 24,600 | 1,036 | |
Trane Technologies PLC | 149,300 | 49,109 | |
56,510 | |||
Commercial Services & Supplies - 0.4% | |||
Cintas Corp. | 45,212 | 31,660 | |
Clean Harbors, Inc. (b) | 76,244 | 17,243 | |
Clean TeQ Water Pty Ltd. (b) | 3,189 | 1 | |
GFL Environmental, Inc. | 243,300 | 9,476 | |
RB Global, Inc. | 32,300 | 2,466 | |
Republic Services, Inc. | 46,700 | 9,076 | |
Veralto Corp. | 83,516 | 7,973 | |
Waste Connections, Inc. (United States) | 14,800 | 2,595 | |
80,490 | |||
Construction & Engineering - 0.1% | |||
Bowman Consulting Group Ltd. (b) | 350,800 | 11,152 | |
Centuri Holdings, Inc. | 67,031 | 1,306 | |
Quanta Services, Inc. | 29,600 | 7,521 | |
19,979 | |||
Electrical Equipment - 1.2% | |||
Eaton Corp. PLC | 403,316 | 126,460 | |
Fuji Electric Co. Ltd. | 18,900 | 1,080 | |
GE Vernova LLC | 334,525 | 57,374 | |
Generac Holdings, Inc. (b) | 27,700 | 3,662 | |
Hubbell, Inc. | 79,300 | 28,983 | |
Nextracker, Inc. Class A (b) | 68,700 | 3,221 | |
nVent Electric PLC | 94,825 | 7,265 | |
Vertiv Holdings Co. | 286,600 | 24,811 | |
252,856 | |||
Ground Transportation - 0.5% | |||
Canadian Pacific Kansas City Ltd. | 536,864 | 42,280 | |
Old Dominion Freight Lines, Inc. | 41,300 | 7,294 | |
Uber Technologies, Inc. (b) | 757,000 | 55,019 | |
104,593 | |||
Industrial Conglomerates - 0.2% | |||
3M Co. | 109,900 | 11,231 | |
Hitachi Ltd. | 890,000 | 20,040 | |
31,271 | |||
Machinery - 0.8% | |||
Caterpillar, Inc. | 58,500 | 19,486 | |
Chart Industries, Inc. (b) | 182,800 | 26,385 | |
Deere & Co. | 3,498 | 1,307 | |
Energy Recovery, Inc. (b) | 156,000 | 2,073 | |
Indutrade AB | 42,800 | 1,097 | |
Ingersoll Rand, Inc. | 169,600 | 15,406 | |
Mitsubishi Heavy Industries Ltd. | 277,300 | 2,985 | |
PACCAR, Inc. | 463,642 | 47,727 | |
Parker Hannifin Corp. | 116,300 | 58,826 | |
Westinghouse Air Brake Tech Co. | 22,100 | 3,493 | |
178,785 | |||
Passenger Airlines - 0.1% | |||
Ryanair Holdings PLC sponsored ADR | 255,600 | 29,762 | |
Professional Services - 0.5% | |||
CACI International, Inc. (b) | 40,200 | 17,291 | |
KBR, Inc. | 335,100 | 21,493 | |
RELX PLC (London Stock Exchange) | 291,630 | 13,362 | |
Thomson Reuters Corp. | 66,098 | 11,142 | |
UL Solutions, Inc. Class A | 33,000 | 1,392 | |
Verisk Analytics, Inc. | 69,600 | 18,761 | |
Wolters Kluwer NV | 71,900 | 11,920 | |
95,361 | |||
Trading Companies & Distributors - 0.4% | |||
Fastenal Co. | 14,600 | 917 | |
Ferguson PLC | 23,600 | 4,570 | |
FTAI Aviation Ltd. | 43,700 | 4,511 | |
Itochu Corp. | 82,600 | 4,060 | |
Mitsui & Co. Ltd. | 105,600 | 2,408 | |
United Rentals, Inc. | 27,800 | 17,979 | |
W.W. Grainger, Inc. | 58,400 | 52,691 | |
87,136 | |||
TOTAL INDUSTRIALS | 1,625,873 | ||
INFORMATION TECHNOLOGY - 28.4% | |||
Communications Equipment - 0.6% | |||
Arista Networks, Inc. (b) | 307,053 | 107,616 | |
Motorola Solutions, Inc. | 20,800 | 8,030 | |
115,646 | |||
Electronic Equipment, Instruments & Components - 1.1% | |||
Amphenol Corp. Class A | 3,539,160 | 238,433 | |
Fabrinet (b) | 12,300 | 3,011 | |
241,444 | |||
IT Services - 0.3% | |||
ASAC II LP (a)(b)(c) | 9,408,021 | 1,581 | |
Cloudflare, Inc. (b) | 27,770 | 2,300 | |
Gartner, Inc. (b) | 60,300 | 27,078 | |
GoDaddy, Inc. (b) | 9,100 | 1,271 | |
Okta, Inc. (b) | 11,500 | 1,077 | |
Shopify, Inc. Class A (b) | 386,908 | 25,569 | |
Wix.com Ltd. (b) | 6,599 | 1,050 | |
X Holdings Corp. Class A (a)(b)(c) | 97,100 | 2,826 | |
62,752 | |||
Semiconductors & Semiconductor Equipment - 12.9% | |||
Advanced Micro Devices, Inc. (b) | 687,734 | 111,557 | |
Advantest Corp. | 84,000 | 3,404 | |
AEHR Test Systems (b)(d) | 87,709 | 980 | |
Analog Devices, Inc. | 78,805 | 17,988 | |
Applied Materials, Inc. | 390,400 | 92,130 | |
Arm Holdings Ltd. ADR (d) | 66,300 | 10,848 | |
ASM International NV (Netherlands) | 13,600 | 10,367 | |
ASML Holding NV: | |||
(depository receipt) | 16,000 | 16,364 | |
(Netherlands) | 32,900 | 33,531 | |
Astera Labs, Inc. | 40,300 | 2,439 | |
BE Semiconductor Industries NV | 50,000 | 8,361 | |
Broadcom, Inc. | 50,200 | 80,598 | |
First Solar, Inc. (b) | 5,000 | 1,127 | |
KLA Corp. | 11,800 | 9,729 | |
Lam Research Corp. | 51,900 | 55,266 | |
Marvell Technology, Inc. | 762,400 | 53,292 | |
Micron Technology, Inc. | 28,700 | 3,775 | |
Monolithic Power Systems, Inc. | 60,932 | 50,067 | |
NVIDIA Corp. | 15,830,760 | 1,955,732 | |
NXP Semiconductors NV | 192,413 | 51,776 | |
ON Semiconductor Corp. (b) | 69,700 | 4,778 | |
Qualcomm, Inc. | 191,600 | 38,163 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 730,600 | 126,986 | |
2,739,258 | |||
Software - 10.5% | |||
Adobe, Inc. (b) | 253,800 | 140,996 | |
Agilysys, Inc. (b) | 36,800 | 3,832 | |
ANSYS, Inc. (b) | 7,400 | 2,379 | |
Autodesk, Inc. (b) | 42,631 | 10,549 | |
Cadence Design Systems, Inc. (b) | 232,857 | 71,662 | |
Check Point Software Technologies Ltd. (b) | 46,023 | 7,594 | |
Clear Secure, Inc. (d) | 306,000 | 5,725 | |
Constellation Software, Inc. | 500 | 1,441 | |
CoreWeave, Inc. Class A (c) | 41,335 | 32,178 | |
Crowdstrike Holdings, Inc. (b) | 46,100 | 17,665 | |
CyberArk Software Ltd. (b) | 10,200 | 2,789 | |
Datadog, Inc. Class A (b) | 57,500 | 7,457 | |
Fair Isaac Corp. (b) | 300 | 447 | |
Figma, Inc. (a)(c) | 159,400 | 3,696 | |
HashiCorp, Inc. (b) | 7,000 | 236 | |
HubSpot, Inc. (b) | 6,456 | 3,808 | |
Intuit, Inc. | 74,962 | 49,266 | |
Klaviyo, Inc. Class A (d) | 15,800 | 393 | |
Magic Leap, Inc.: | |||
Class A (a)(b)(c) | 30,863 | 0 | |
warrants (a)(b)(c) | 46,794 | 0 | |
Microsoft Corp. | 3,643,115 | 1,628,290 | |
Monday.com Ltd. (b) | 6,800 | 1,637 | |
Oracle Corp. | 39,200 | 5,535 | |
Palo Alto Networks, Inc. (b) | 24,400 | 8,272 | |
Roper Technologies, Inc. | 1,400 | 789 | |
Rubrik, Inc. (d) | 51,500 | 1,579 | |
Salesforce, Inc. | 420,893 | 108,212 | |
Samsara, Inc. (b) | 213,565 | 7,197 | |
ServiceNow, Inc. (b) | 47,199 | 37,130 | |
Stripe, Inc. Class B (a)(b)(c) | 83,200 | 2,163 | |
Synopsys, Inc. (b) | 93,000 | 55,341 | |
Tanium, Inc. Class B (a)(b)(c) | 1,259,978 | 10,685 | |
Volue A/S (b) | 365,396 | 1,025 | |
Zoom Video Communications, Inc. Class A (b) | 71,300 | 4,220 | |
2,234,188 | |||
Technology Hardware, Storage & Peripherals - 3.0% | |||
Apple, Inc. | 2,602,010 | 548,035 | |
Dell Technologies, Inc. | 120,875 | 16,670 | |
Samsung Electronics Co. Ltd. | 1,104,180 | 65,209 | |
629,914 | |||
TOTAL INFORMATION TECHNOLOGY | 6,023,202 | ||
MATERIALS - 2.2% | |||
Chemicals - 0.5% | |||
Corteva, Inc. | 465,900 | 25,131 | |
Linde PLC | 16,400 | 7,196 | |
Sherwin-Williams Co. | 164,869 | 49,202 | |
Shin-Etsu Chemical Co. Ltd. | 268,200 | 10,428 | |
Westlake Corp. | 86,587 | 12,540 | |
104,497 | |||
Construction Materials - 0.2% | |||
CRH PLC | 98,300 | 7,371 | |
Martin Marietta Materials, Inc. | 40,000 | 21,672 | |
Vulcan Materials Co. | 38,300 | 9,524 | |
38,567 | |||
Containers & Packaging - 0.0% | |||
International Paper Co. | 89,400 | 3,858 | |
Metals & Mining - 1.5% | |||
ATI, Inc. (b) | 96,500 | 5,351 | |
B2Gold Corp. | 7,869,379 | 21,111 | |
Franco-Nevada Corp. | 230,036 | 27,274 | |
Freeport-McMoRan, Inc. | 1,627,900 | 79,116 | |
Ivanhoe Electric, Inc. (b) | 384,197 | 3,604 | |
Ivanhoe Mines Ltd. (b)(d) | 7,654,018 | 98,749 | |
Lundin Gold, Inc. | 81,553 | 1,205 | |
Novagold Resources, Inc. (b) | 3,059,092 | 10,711 | |
Nucor Corp. | 173,325 | 27,399 | |
Orla Mining Ltd. (b) | 1,816,503 | 6,971 | |
Steel Dynamics, Inc. | 229,996 | 29,784 | |
Wheaton Precious Metals Corp. | 403,500 | 21,156 | |
332,431 | |||
TOTAL MATERIALS | 479,353 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Gaming & Leisure Properties | 4,888 | 221 | |
UTILITIES - 1.1% | |||
Electric Utilities - 0.9% | |||
Constellation Energy Corp. | 574,224 | 115,000 | |
Kansai Electric Power Co., Inc. | 86,000 | 1,444 | |
NextEra Energy, Inc. | 159,700 | 11,308 | |
NRG Energy, Inc. | 79,200 | 6,167 | |
PG&E Corp. | 1,678,300 | 29,303 | |
Southern Co. | 316,300 | 24,535 | |
187,757 | |||
Gas Utilities - 0.0% | |||
Southwest Gas Holdings, Inc. | 9,400 | 662 | |
Independent Power and Renewable Electricity Producers - 0.2% | |||
Vistra Corp. | 423,800 | 36,438 | |
TOTAL UTILITIES | 224,857 | ||
TOTAL COMMON STOCKS (Cost $6,673,544) | 20,669,880 | ||
Convertible Preferred Stocks - 2.0% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 130,945 | 31,655 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A (a)(b)(c) | 61,855 | 15 | |
Series C (a)(b)(c) | 243,394 | 117 | |
Series D (a)(b)(c) | 411,659 | 296 | |
428 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 2,800 | 743 | |
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (a)(c) | 2,032 | 2,167 | |
Series A2 (a)(c) | 368 | 393 | |
2,560 | |||
TOTAL CONSUMER DISCRETIONARY | 3,731 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G (a)(b)(c) | 8,102 | 255 | |
Series H (a)(b)(c) | 10,223 | 412 | |
667 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Akeana Series C (a)(c) | 125,700 | 1,652 | |
Circle Internet Financial Ltd.: | |||
Series E (a)(b)(c) | 615,508 | 19,075 | |
Series F (a)(b)(c) | 68,639 | 2,127 | |
Tenstorrent Holdings, Inc. Series C1 (a)(c) | 70,912 | 4,940 | |
27,794 | |||
HEALTH CARE - 0.1% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 594,600 | 1,819 | |
Intarcia Therapeutics, Inc. (a)(b)(c) | 516,522 | 0 | |
1,819 | |||
Health Care Providers & Services - 0.1% | |||
Lyra Health, Inc.: | |||
Series E (a)(b)(c) | 270,000 | 3,772 | |
Series F (a)(b)(c) | 10,070 | 141 | |
Somatus, Inc. Series E (a)(b)(c) | 2,206 | 2,293 | |
6,206 | |||
TOTAL HEALTH CARE | 8,025 | ||
INDUSTRIALS - 1.5% | |||
Aerospace & Defense - 1.4% | |||
Relativity Space, Inc.: | |||
Series E (a)(b)(c) | 308,359 | 6,781 | |
Series F (a)(c) | 94,642 | 2,076 | |
Space Exploration Technologies Corp.: | |||
Series G (a)(b)(c) | 145,254 | 162,684 | |
Series H (a)(b)(c) | 42,094 | 47,145 | |
Series N (a)(b)(c) | 66,208 | 74,153 | |
292,839 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E (a)(b)(c) | 208,789 | 8,759 | |
Series F (a)(b)(c) | 79,020 | 3,315 | |
Series G (a)(c) | 182,718 | 7,665 | |
19,739 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 52,096 | 6,533 | |
TOTAL INDUSTRIALS | 319,111 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
Magic Leap, Inc. Series AA (a)(b)(c) | 325,855 | 0 | |
Moloco, Inc. Series A (a)(c) | 39,638 | 2,161 | |
Nuro, Inc.: | |||
Series C (a)(b)(c) | 491,080 | 1,409 | |
Series D (a)(b)(c) | 94,265 | 346 | |
Stripe, Inc.: | |||
Series H (a)(b)(c) | 34,900 | 907 | |
Series I (a)(b)(c) | 611,900 | 15,909 | |
20,732 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $159,775) | 411,715 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (a)(c) | 488 | 709 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (a)(c)(h)(i) | 2,280 | 0 | |
TOTAL PREFERRED SECURITIES (Cost $2,768) | 709 | ||
Money Market Funds - 1.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.38% (j) | 149,098,798 | 149,129 | |
Fidelity Securities Lending Cash Central Fund 5.38% (j)(k) | 129,732,332 | 129,745 | |
TOTAL MONEY MARKET FUNDS (Cost $278,874) | 278,874 | ||
TOTAL INVESTMENT IN SECURITIES - 100.7% (Cost $7,114,961) | 21,361,178 |
NET OTHER ASSETS (LIABILITIES) - (0.7)% | (147,299) |
NET ASSETS - 100.0% | 21,213,879 |
(a) | 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 $829,525,000 or 3.9% of net assets. |
(b) | Non-income producing |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $16,633,000 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) | 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. |
(l) | Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $10,079,000 and all restrictions are set to expire on or before September 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Akeana Series C | 1/23/24 | 1,604 |
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. | 12/13/17 - 2/07/20 | 30,904 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 14,348 |
Canva, Inc. Class A | 3/18/24 | 12,747 |
Canva, Inc. Series A | 9/22/23 | 2,167 |
Canva, Inc. Series A2 | 9/22/23 | 393 |
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 |
Figma, Inc. | 5/15/24 | 3,697 |
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. | 11/14/12 | 7,040 |
Intarcia Therapeutics, Inc. warrants 12/31/24 | 1/03/20 | 0 |
Intarcia Therapeutics, Inc. 6% | 1/03/20 | 2,280 |
Lionsgate Studios Corp. | 12/22/23 | 1,851 |
Lyra Health, Inc. Series E | 1/14/21 | 2,472 |
Lyra Health, Inc. Series F | 6/04/21 | 158 |
Magic Leap, Inc. Class A | 10/06/17 | 15,000 |
Magic Leap, Inc. Series AA | 7/07/20 | 5,624 |
Magic Leap, Inc. warrants | 7/07/20 | 0 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 488 |
Relativity Space, Inc. Series E | 5/27/21 | 7,041 |
Relativity Space, Inc. Series F | 11/14/23 | 2,145 |
Relativity Space, Inc. warrants | 11/14/23 | 0 |
Sable Offshore Corp. | 1/16/24 | 4,603 |
Somatus, Inc. Series E | 1/31/22 | 1,925 |
Space Exploration Technologies Corp. | 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 Holdings, Inc. Series C1 | 4/23/21 | 4,216 |
TulCo LLC | 8/24/17 | 5,885 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 11/13/23 | 7,038 |
X Holdings Corp. Class A | 10/25/22 | 9,710 |
Zipline International, Inc. | 10/12/21 | 2,697 |
Zipline International, Inc. Series E | 12/21/20 | 6,813 |
Zipline International, Inc. Series F | 4/11/23 | 3,176 |
Zipline International, Inc. Series G | 6/07/24 | 7,665 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 230,569 | 1,962,336 | 2,043,808 | 5,923 | 32 | - | 149,129 | 0.3% |
Fidelity Securities Lending Cash Central Fund 5.38% | 61,315 | 436,656 | 368,226 | 176 | - | - | 129,745 | 0.5% |
Total | 291,884 | 2,398,992 | 2,412,034 | 6,099 | 32 | - | 278,874 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,246,499 | 4,172,239 | 28,265 | 45,995 |
Consumer Discretionary | 2,293,967 | 2,223,402 | 27,374 | 43,191 |
Consumer Staples | 299,343 | 285,567 | 13,092 | 684 |
Energy | 534,183 | 534,183 | - | - |
Financials | 2,712,538 | 2,642,988 | 14,774 | 54,776 |
Health Care | 2,301,716 | 2,229,064 | 54,368 | 18,284 |
Industrials | 1,944,984 | 1,275,785 | 53,473 | 615,726 |
Information Technology | 6,043,934 | 5,933,138 | 36,935 | 73,861 |
Materials | 479,353 | 468,925 | 10,428 | - |
Real Estate | 221 | 221 | - | - |
Utilities | 224,857 | 223,413 | 1,444 | - |
Preferred Securities | 709 | - | - | 709 |
Money Market Funds | 278,874 | 278,874 | - | - |
Total Investments in Securities: | 21,361,178 | 20,267,799 | 240,153 | 853,226 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 529,180 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 78,882 | ||
Cost of Purchases | 7,664 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 615,726 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 78,882 | |
Other Investments in Securities | |||
Beginning Balance | $ | 211,086 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 13,579 | ||
Cost of Purchases | 18,094 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (5,259) | ||
Ending Balance | $ | 237,500 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 13,579 | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2024 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $125,066) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $6,836,087) | $ | 21,082,304 | ||
Fidelity Central Funds (cost $278,874) | 278,874 | |||
Total Investment in Securities (cost $7,114,961) | $ | 21,361,178 | ||
Foreign currency held at value (cost $48) | 87 | |||
Receivable for investments sold | 2,240 | |||
Receivable for fund shares sold | 9,758 | |||
Dividends receivable | 8,010 | |||
Distributions receivable from Fidelity Central Funds | 711 | |||
Other receivables | 838 | |||
Total assets | 21,382,822 | |||
Liabilities | ||||
Payable to custodian bank | $ | 88 | ||
Payable for investments purchased | 9,209 | |||
Payable for fund shares redeemed | 13,065 | |||
Accrued management fee | 11,843 | |||
Distribution and service plan fees payable | 2,900 | |||
Other payables and accrued expenses | 2,123 | |||
Collateral on securities loaned | 129,715 | |||
Total liabilities | 168,943 | |||
Net Assets | $ | 21,213,879 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 6,240,995 | ||
Total accumulated earnings (loss) | 14,972,884 | |||
Net Assets | $ | 21,213,879 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($7,590,877 ÷ 188,268 shares)(a) | $ | 40.32 | ||
Maximum offering price per share (100/94.25 of $40.32) | $ | 42.78 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($1,838,329 ÷ 49,083 shares)(a) | $ | 37.45 | ||
Maximum offering price per share (100/96.50 of $37.45) | $ | 38.81 | ||
Class C : | ||||
Net Asset Value and offering price per share ($690,579 ÷ 23,243 shares)(a) | $ | 29.71 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($8,943,621 ÷ 211,712 shares) | $ | 42.24 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($2,150,473 ÷ 50,660 shares) | $ | 42.45 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Consolidated Statement of Operations | ||||
Amounts in thousands | Six months ended June 30, 2024 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 64,841 | ||
Interest | 2 | |||
Income from Fidelity Central Funds (including $176 from security lending) | 6,099 | |||
Total income | 70,942 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 60,397 | ||
Performance adjustment | (1,220) | |||
Transfer agent fees | 4,777 | |||
Distribution and service plan fees | 16,472 | |||
Accounting fees | 265 | |||
Custodian fees and expenses | 139 | |||
Independent trustees' fees and expenses | 41 | |||
Registration fees | 113 | |||
Audit | 62 | |||
Legal | 14 | |||
Miscellaneous | 118 | |||
Total expenses before reductions | 81,178 | |||
Expense reductions | (829) | |||
Total expenses after reductions | 80,349 | |||
Net Investment income (loss) | (9,407) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $56) | 774,405 | |||
Redemptions in-kind | 70,529 | |||
Fidelity Central Funds | 32 | |||
Foreign currency transactions | (67) | |||
Total net realized gain (loss) | 844,899 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of increase in deferred foreign taxes of $489) | 3,515,377 | |||
Unfunded commitments | 119 | |||
Assets and liabilities in foreign currencies | (78) | |||
Total change in net unrealized appreciation (depreciation) | 3,515,418 | |||
Net gain (loss) | 4,360,317 | |||
Net increase (decrease) in net assets resulting from operations | $ | 4,350,910 |
Consolidated Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (9,407) | $ | 62,781 |
Net realized gain (loss) | 844,899 | 1,041,997 | ||
Change in net unrealized appreciation (depreciation) | 3,515,418 | 3,926,099 | ||
Net increase (decrease) in net assets resulting from operations | 4,350,910 | 5,030,877 | ||
Distributions to shareholders | (104,081) | (1,099,713) | ||
Share transactions - net increase (decrease) | (1,017,101) | (791,690) | ||
Total increase (decrease) in net assets | 3,229,728 | 3,139,474 | ||
Net Assets | ||||
Beginning of period | 17,984,151 | 14,844,677 | ||
End of period | $ | 21,213,879 | $ | 17,984,151 |
Fidelity Advisor® New Insights Fund Class A |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 32.50 | $ | 25.50 | $ | 40.22 | $ | 36.57 | $ | 32.08 | $ | 26.50 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.04) | .09 | .10 | (.16) | (.10) | .06 | ||||||
Net realized and unrealized gain (loss) | 8.05 | 8.92 | (10.99) | 8.90 | 7.57 | 7.60 | ||||||
Total from investment operations | 8.01 | 9.01 | (10.89) | 8.74 | 7.47 | 7.66 | ||||||
Distributions from net investment income | (.01) | (.07) | (.12) | - | - C | (.04) | ||||||
Distributions from net realized gain | (.19) | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Total distributions | (.19) D | (2.01) | (3.83) | (5.09) | (2.98) D | (2.08) | ||||||
Net asset value, end of period | $ | 40.32 | $ | 32.50 | $ | 25.50 | $ | 40.22 | $ | 36.57 | $ | 32.08 |
Total Return E,F,G | 24.72 % | 35.95% | (27.48)% | 24.30% | 23.64% | 29.15% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .91% J | .69% | .70% | .93% | 1.10% | 1.08% | ||||||
Expenses net of fee waivers, if any | .91 % J | .68% | .70% | .93% | 1.10% | 1.08% | ||||||
Expenses net of all reductions | .91% J | .68% | .70% | .93% | 1.10% | 1.07% | ||||||
Net investment income (loss) | (.19)% J | .29% | .32% | (.40)% | (.30)% | .20% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 7,591 | $ | 6,311 | $ | 5,101 | $ | 8,124 | $ | 6,753 | $ | 6,156 |
Portfolio turnover rate K | 14 % J,L | 15% | 32% L | 29% | 53% | 27% L |
Fidelity Advisor® New Insights Fund Class M |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 30.24 | $ | 23.85 | $ | 37.93 | $ | 34.81 | $ | 30.73 | $ | 25.49 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.08) | .01 | .02 | (.25) | (.17) | (.01) | ||||||
Net realized and unrealized gain (loss) | 7.48 | 8.32 | (10.34) | 8.46 | 7.22 | 7.29 | ||||||
Total from investment operations | 7.40 | 8.33 | (10.32) | 8.21 | 7.05 | 7.28 | ||||||
Distributions from net investment income | (.01) | - C | (.05) | - | - | - | ||||||
Distributions from net realized gain | (.19) | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Total distributions | (.19) D | (1.94) | (3.76) | (5.09) | (2.97) | (2.04) | ||||||
Net asset value, end of period | $ | 37.45 | $ | 30.24 | $ | 23.85 | $ | 37.93 | $ | 34.81 | $ | 30.73 |
Total Return E,F,G | 24.55 % | 35.60% | (27.64)% | 24.00% | 23.33% | 28.79% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.16% J | .94% | .95% | 1.18% | 1.35% | 1.32% | ||||||
Expenses net of fee waivers, if any | 1.16 % J | .93% | .94% | 1.18% | 1.35% | 1.32% | ||||||
Expenses net of all reductions | 1.16% J | .93% | .94% | 1.18% | 1.35% | 1.32% | ||||||
Net investment income (loss) | (.44)% J | .04% | .07% | (.65)% | (.54)% | (.05)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 1,838 | $ | 1,537 | $ | 1,254 | $ | 2,027 | $ | 1,856 | $ | 1,844 |
Portfolio turnover rate K | 14 % J,L | 15% | 32% L | 29% | 53% | 27% L |
Fidelity Advisor® New Insights Fund Class C |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 24.08 | $ | 19.41 | $ | 31.89 | $ | 30.09 | $ | 27.03 | $ | 22.73 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | (.13) | (.11) | (.11) | (.38) | (.29) | (.15) | ||||||
Net realized and unrealized gain (loss) | 5.95 | 6.72 | (8.66) | 7.27 | 6.32 | 6.49 | ||||||
Total from investment operations | 5.82 | 6.61 | (8.77) | 6.89 | 6.03 | 6.34 | ||||||
Distributions from net investment income | (.01) | - C | - | - | - | - | ||||||
Distributions from net realized gain | (.19) | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Total distributions | (.19) D | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Net asset value, end of period | $ | 29.71 | $ | 24.08 | $ | 19.41 | $ | 31.89 | $ | 30.09 | $ | 27.03 |
Total Return E,F,G | 24.27 % | 34.86% | (28.02)% | 23.36% | 22.74% | 28.15% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | 1.67% J | 1.45% | 1.46% | 1.70% | 1.86% | 1.83% | ||||||
Expenses net of fee waivers, if any | 1.66 % J | 1.45% | 1.46% | 1.69% | 1.86% | 1.83% | ||||||
Expenses net of all reductions | 1.66% J | 1.45% | 1.46% | 1.69% | 1.86% | 1.83% | ||||||
Net investment income (loss) | (.94)% J | (.47)% | (.45)% | (1.17)% | (1.05)% | (.55)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 691 | $ | 642 | $ | 672 | $ | 1,376 | $ | 1,973 | $ | 2,228 |
Portfolio turnover rate K | 14 % J,L | 15% | 32% L | 29% | 53% | 27% L |
Fidelity Advisor® New Insights Fund Class I |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 34.00 | $ | 26.60 | $ | 41.73 | $ | 37.69 | $ | 32.90 | $ | 27.14 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | .17 | .19 | (.06) | (.01) | .15 | ||||||
Net realized and unrealized gain (loss) | 8.42 | 9.31 | (11.41) | 9.19 | 7.78 | 7.77 | ||||||
Total from investment operations | 8.43 | 9.48 | (11.22) | 9.13 | 7.77 | 7.92 | ||||||
Distributions from net investment income | (.01) | (.14) | (.20) | - | - C | (.12) | ||||||
Distributions from net realized gain | (.19) | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Total distributions | (.19) D | (2.08) | (3.91) | (5.09) | (2.98) D | (2.16) | ||||||
Net asset value, end of period | $ | 42.24 | $ | 34.00 | $ | 26.60 | $ | 41.73 | $ | 37.69 | $ | 32.90 |
Total Return E,F | 24.87 % | 36.26% | (27.28)% | 24.62% | 23.96% | 29.42% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .66% I | .44% | .45% | .68% | .85% | .82% | ||||||
Expenses net of fee waivers, if any | .65 % I | .43% | .44% | .68% | .85% | .82% | ||||||
Expenses net of all reductions | .65% I | .43% | .44% | .68% | .84% | .82% | ||||||
Net investment income (loss) | .06% I | .54% | .57% | (.15)% | (.04)% | .46% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 8,944 | $ | 7,796 | $ | 6,585 | $ | 12,335 | $ | 12,219 | $ | 13,870 |
Portfolio turnover rate J | 14 % I,K | 15% | 32% K | 29% | 53% | 27% K |
Fidelity Advisor® New Insights Fund Class Z |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 34.14 | $ | 26.70 | $ | 41.89 | $ | 37.77 | $ | 32.93 | $ | 27.16 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .03 | .21 | .23 | (.01) | .03 | .18 | ||||||
Net realized and unrealized gain (loss) | 8.47 | 9.35 | (11.47) | 9.22 | 7.79 | 7.79 | ||||||
Total from investment operations | 8.50 | 9.56 | (11.24) | 9.21 | 7.82 | 7.97 | ||||||
Distributions from net investment income | (.01) | (.18) | (.24) | - | - C | (.17) | ||||||
Distributions from net realized gain | (.19) | (1.94) | (3.71) | (5.09) | (2.97) | (2.04) | ||||||
Total distributions | (.19) D | (2.12) | (3.95) | (5.09) | (2.98) D | (2.20) D | ||||||
Net asset value, end of period | $ | 42.45 | $ | 34.14 | $ | 26.70 | $ | 41.89 | $ | 37.77 | $ | 32.93 |
Total Return E,F | 24.97 % | 36.43% | (27.21)% | 24.79% | 24.09% | 29.60% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .55% I | .32% | .33% | .56% | .73% | .70% | ||||||
Expenses net of fee waivers, if any | .54 % I | .31% | .32% | .56% | .73% | .70% | ||||||
Expenses net of all reductions | .54% I | .31% | .32% | .56% | .72% | .70% | ||||||
Net investment income (loss) | .18% I | .66% | .69% | (.03)% | .08% | .58% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 2,150 | $ | 1,698 | $ | 1,233 | $ | 2,572 | $ | 2,101 | $ | 2,306 |
Portfolio turnover rate J | 14 % I,K | 15% | 32% K | 29% | 53% | 27% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $852,517 | Recovery value | Recovery value | $0.00 - $0.17 / $0.08 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 0.6 - 55.7 / 11.9 | Increase | ||
Enterprise value/EBITDA multiple (EV/EBITDA) | 19.5 - 22.0 / 21.2 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 15.5 | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.5% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.3% - 5.1% / 4.5% | Increase | ||
Volatility | 60.0% - 100.0% / 77.6% | Increase | |||
Term | 0.1 - 5.0 / 3.7 | Increase | |||
Discount for lack of marketability (DLOM) | 6.1% | Decrease | |||
Preferred Securities | $709 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.6 | Increase | ||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 60.0% | Increase | |||
Term | 2.1 | Increase |
Fidelity Advisor New Insights Fund | $838 |
Gross unrealized appreciation | $14,376,950 |
Gross unrealized depreciation | (217,026) |
Net unrealized appreciation (depreciation) | $14,159,924 |
Tax cost | $7,201,254 |
Amount ($) | % of Net Assets | |
Fidelity Advisor New Insights Fund | 22,383 | .11 |
Purchases ($) | Sales ($) | |
Fidelity Advisor New Insights Fund | 1,399,742 | 2,332,734 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Advisor New Insights Fund | 2,337 | 70,529 | 90,374 |
Maximum Management Fee Rate % | |
Class A | .66 |
Class M | .66 |
Class C | .68 |
Class I | .66 |
Class Z | .54 |
Total Management Fee Rate % | |
Class A | .66 |
Class M | .66 |
Class C | .67 |
Class I | .66 |
Class Z | .54 |
Performance Adjustment Index | |
Fidelity Advisor New Insights Fund | S&P 500 Index |
Distribution Fee | Service Fee | Total Fees ($) | Retained by FDC ($) | |
Class A | - % | .25% | 8,817 | 97 |
Class M | .25% | .25% | 4,273 | 31 |
Class C | .75% | .25% | 3,382 | 235 |
16,472 | 363 |
Retained by FDC ($) | |
Class A | 370 |
Class M | 34 |
Class CA | 4 |
408 |
Amount ($) | % of Class-Level Average Net Assets | ||
Class A | 1,799 | .1618 | |
Class M | 431 | .1598 | |
Class C | 194 | .1752 | |
Class I | 2,227 | .1627 | |
Class Z | 126 | .0420 | |
4,777 | |||
% of Average Net Assets | |
Fidelity Advisor New Insights Fund | .0084 |
Amount ($) | |
Fidelity Advisor New Insights Fund | 21 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Advisor New Insights Fund | 87,144 | 172,135 | 67,226 |
Amount ($) | |
Fidelity Advisor New Insights Fund | 17 |
Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) | |
Fidelity Advisor New Insights Fund | 19 | 2 | - |
Six months ended June 30, 2024 | Year ended December 31, 2023 | |
Fidelity Advisor New Insights Fund | ||
Distributions to shareholders | ||
Class A | $36,764 | $378,730 |
Class M | 9,591 | 95,811 |
Class C | 4,940 | 53,086 |
Class I | 43,319 | 472,396 |
Class Z | 9,467 | 99,690 |
Total | $104,081 | $1,099,713 |
Shares | Shares | Dollars | Dollars | |
Six months ended June 30, 2024 | Year ended December 31, 2023 | Six months ended June 30, 2024 | Year ended December 31, 2023 | |
Fidelity Advisor New Insights Fund | ||||
Class A | ||||
Shares sold | 5,906 | 12,899 | $216,437 | $381,822 |
Reinvestment of distributions | 973 | 11,776 | 34,815 | 358,110 |
Shares redeemed | (12,807) | (30,528) | (469,820) | (898,023) |
Net increase (decrease) | (5,928) | (5,853) | $(218,568) | $(158,091) |
Class M | ||||
Shares sold | 1,499 | 2,295 | $51,469 | $63,582 |
Reinvestment of distributions | 282 | 3,312 | 9,378 | 93,718 |
Shares redeemed | (3,531) | (7,360) | (120,052) | (203,356) |
Net increase (decrease) | (1,750) | (1,753) | $(59,205) | $(46,056) |
Class C | ||||
Shares sold | 1,048 | 1,913 | $28,372 | $42,814 |
Reinvestment of distributions | 184 | 2,321 | 4,876 | 52,323 |
Shares redeemed | (4,627) | (12,231) | (125,172) | (271,137) |
Net increase (decrease) | (3,395) | (7,997) | $(91,924) | $(176,000) |
Class I | ||||
Shares sold | 14,913 | 25,282 | $578,878 | $785,847 |
Reinvestment of distributions | 1,070 | 13,706 | 40,077 | 436,108 |
Shares redeemed | (33,557) | (57,287) | (1,303,208) | (1,762,093) |
Net increase (decrease) | (17,574) | (18,299) | $(684,253) | $(540,138) |
Class Z | ||||
Shares sold | 5,145 | 12,388 | $200,315 | $395,001 |
Reinvestment of distributions | 212 | 2,612 | 7,986 | 83,691 |
Shares redeemed | (4,426) | (11,434) | (171,452) | (350,097) |
Net increase (decrease) | 931 | 3,566 | $36,849 | $128,595 |
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Contents
Common Stocks - 97.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 20.2% | |||
Entertainment - 2.5% | |||
Liberty Media Corp. Liberty Formula One Class C | 912,878 | 65,581,156 | |
Liberty Media Corp. Liberty Live Class C | 49,828 | 1,906,918 | |
Lionsgate Studios Corp. (a) | 508,514 | 4,098,623 | |
Netflix, Inc. (b) | 996,601 | 672,586,083 | |
Sea Ltd. ADR Class A (b) | 108,509 | 7,749,713 | |
Spotify Technology SA (b) | 29,359 | 9,212,561 | |
The Walt Disney Co. | 455,209 | 45,197,702 | |
Universal Music Group NV | 2,247,664 | 66,864,093 | |
873,196,849 | |||
Interactive Media & Services - 17.7% | |||
Alphabet, Inc.: | |||
Class A | 5,111,487 | 931,057,357 | |
Class C | 4,277,181 | 784,520,539 | |
Bumble, Inc. (b) | 474,029 | 4,982,045 | |
Epic Games, Inc. (a)(b)(c) | 14,010 | 8,406,000 | |
Meta Platforms, Inc. Class A | 8,955,277 | 4,515,429,765 | |
Pinterest, Inc. Class A (b) | 235,074 | 10,359,711 | |
Reddit, Inc.: | |||
Class A (d) | 176,739 | 11,291,855 | |
Class B (j) | 176,436 | 11,272,496 | |
6,277,319,768 | |||
Wireless Telecommunication Services - 0.0% | |||
T-Mobile U.S., Inc. | 18,781 | 3,308,837 | |
TOTAL COMMUNICATION SERVICES | 7,153,825,454 | ||
CONSUMER DISCRETIONARY - 10.2% | |||
Automobiles - 0.2% | |||
BYD Co. Ltd. (H Shares) | 264,951 | 7,868,738 | |
General Motors Co. | 520,256 | 24,171,094 | |
Hyundai Motor Co. Ltd. | 235,000 | 50,234,233 | |
Rad Power Bikes, Inc. (a)(b)(c) | 331,574 | 82,894 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 389,358 | 603,505 | |
Toyota Motor Corp. | 417,248 | 8,560,876 | |
91,521,340 | |||
Broadline Retail - 5.9% | |||
Amazon.com, Inc. (b) | 10,138,175 | 1,959,202,319 | |
Coupang, Inc. Class A (b) | 2,718,978 | 56,962,589 | |
Dollarama, Inc. | 164,329 | 15,004,083 | |
JD.com, Inc. sponsored ADR | 242,093 | 6,255,683 | |
MercadoLibre, Inc. (b) | 23,645 | 38,858,193 | |
Pan Pacific International Holdings Ltd. | 136,438 | 3,191,536 | |
PDD Holdings, Inc. ADR (b) | 46,551 | 6,188,955 | |
2,085,663,358 | |||
Diversified Consumer Services - 0.1% | |||
Duolingo, Inc. (b) | 105,296 | 21,972,116 | |
Hotels, Restaurants & Leisure - 1.7% | |||
Airbnb, Inc. Class A (b) | 1,084,660 | 164,466,996 | |
Booking Holdings, Inc. | 26,816 | 106,231,584 | |
Cava Group, Inc. (d) | 322,202 | 29,884,236 | |
Chipotle Mexican Grill, Inc. (b) | 1,996,700 | 125,093,255 | |
Deliveroo PLC Class A (b)(e) | 4,163,248 | 6,888,955 | |
Domino's Pizza, Inc. | 24,214 | 12,502,415 | |
Doordash, Inc. (b) | 66,169 | 7,197,864 | |
Dutch Bros, Inc. (b) | 126,121 | 5,221,409 | |
Hilton Worldwide Holdings, Inc. | 437,742 | 95,515,304 | |
Marriott International, Inc. Class A | 44,442 | 10,744,742 | |
Misa Investments Ltd. | 296,651 | 10,068,335 | |
Restaurant Brands International, Inc. (d) | 265,525 | 18,710,288 | |
592,525,383 | |||
Household Durables - 0.5% | |||
D.R. Horton, Inc. | 213,091 | 30,030,915 | |
Garmin Ltd. | 60,269 | 9,819,025 | |
Lennar Corp. Class A | 780,378 | 116,955,251 | |
PulteGroup, Inc. | 87,308 | 9,612,611 | |
TopBuild Corp. (b) | 2,836 | 1,092,626 | |
167,510,428 | |||
Specialty Retail - 1.4% | |||
Abercrombie & Fitch Co. Class A (b) | 98,145 | 17,454,107 | |
Dick's Sporting Goods, Inc. | 257,866 | 55,402,510 | |
Fanatics, Inc. Class A (a)(b)(c) | 332,480 | 22,592,016 | |
Fast Retailing Co. Ltd. | 58,444 | 14,782,896 | |
Gap, Inc. | 1,008,402 | 24,090,724 | |
Group 1 Automotive, Inc. | 1,680 | 499,430 | |
Industria de Diseno Textil SA | 68,219 | 3,385,257 | |
O'Reilly Automotive, Inc. (b) | 86,285 | 91,122,137 | |
Ross Stores, Inc. | 123,007 | 17,875,377 | |
The Home Depot, Inc. | 15,820 | 5,445,877 | |
TJX Companies, Inc. | 1,153,744 | 127,027,214 | |
Williams-Sonoma, Inc. | 451,002 | 127,349,435 | |
507,026,980 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
adidas AG | 91,144 | 21,767,179 | |
Asics Corp. | 286,736 | 4,420,945 | |
Birkenstock Holding PLC | 33,368 | 1,815,553 | |
Canva, Inc. Class A (a)(c) | 21,800 | 23,253,188 | |
Crocs, Inc. (b) | 74,193 | 10,827,726 | |
Deckers Outdoor Corp. (b) | 21,772 | 21,074,207 | |
lululemon athletica, Inc. (b) | 7,226 | 2,158,406 | |
NIKE, Inc. Class B | 14,480 | 1,091,358 | |
On Holding AG (b) | 1,365,380 | 52,976,744 | |
Prada SpA | 442,621 | 3,310,142 | |
Ralph Lauren Corp. Class A | 78,596 | 13,759,016 | |
156,454,464 | |||
TOTAL CONSUMER DISCRETIONARY | 3,622,674,069 | ||
CONSUMER STAPLES - 2.1% | |||
Beverages - 0.3% | |||
Kweichow Moutai Co. Ltd. (A Shares) | 11,900 | 2,402,827 | |
The Coca-Cola Co. | 1,659,381 | 105,619,601 | |
108,022,428 | |||
Consumer Staples Distribution & Retail - 1.6% | |||
Alimentation Couche-Tard, Inc. (multi-vtg.) | 428,633 | 24,053,328 | |
Casey's General Stores, Inc. | 86,423 | 32,975,560 | |
Costco Wholesale Corp. | 560,762 | 476,642,092 | |
Walmart, Inc. | 488,981 | 33,108,904 | |
566,779,884 | |||
Food Products - 0.1% | |||
Ajinomoto Co., Inc. | 87,384 | 3,075,500 | |
Bowery Farming, Inc. (b)(c) | 57,529 | 1,151 | |
Bowery Farming, Inc. warrants (a)(b)(c) | 20,213 | 404 | |
Mondelez International, Inc. | 241,347 | 15,793,748 | |
18,870,803 | |||
Personal Care Products - 0.1% | |||
AMOREPACIFIC Corp. | 22,271 | 2,699,887 | |
Estee Lauder Companies, Inc. Class A | 23,183 | 2,466,671 | |
L'Oreal SA | 77,423 | 34,078,937 | |
39,245,495 | |||
TOTAL CONSUMER STAPLES | 732,918,610 | ||
ENERGY - 2.4% | |||
Energy Equipment & Services - 0.0% | |||
TechnipFMC PLC | 149,101 | 3,898,991 | |
Oil, Gas & Consumable Fuels - 2.4% | |||
ARC Resources Ltd. | 171,827 | 3,065,895 | |
Cameco Corp. | 676,823 | 33,299,692 | |
Cameco Corp. | 61,189 | 3,010,586 | |
Canadian Natural Resources Ltd. | 2,430,020 | 86,557,417 | |
Cenovus Energy, Inc. (Canada) | 154,420 | 3,035,235 | |
ConocoPhillips Co. | 733,754 | 83,926,783 | |
Diamondback Energy, Inc. | 117,607 | 23,543,745 | |
EOG Resources, Inc. | 106,686 | 13,428,567 | |
Exxon Mobil Corp. | 2,825,806 | 325,306,787 | |
Hess Corp. | 340,220 | 50,189,254 | |
Marathon Petroleum Corp. | 302,403 | 52,460,872 | |
Occidental Petroleum Corp. | 509,517 | 32,114,857 | |
Phillips 66 Co. | 83,850 | 11,837,105 | |
PrairieSky Royalty Ltd. | 276,366 | 5,252,378 | |
Reliance Industries Ltd. | 164,882 | 6,192,532 | |
Sable Offshore Corp. (a) | 1,076,300 | 16,219,841 | |
Shell PLC ADR | 292,861 | 21,138,707 | |
Valero Energy Corp. | 444,912 | 69,744,405 | |
840,324,658 | |||
TOTAL ENERGY | 844,223,649 | ||
FINANCIALS - 14.5% | |||
Banks - 2.7% | |||
AIB Group PLC | 2,086,967 | 11,032,144 | |
Banco Santander SA (Spain) | 3,415,798 | 15,892,936 | |
Bank of America Corp. | 4,163,953 | 165,600,411 | |
Bank of Ireland Group PLC | 676,662 | 7,078,588 | |
Citigroup, Inc. | 766,446 | 48,638,663 | |
East West Bancorp, Inc. | 40,175 | 2,942,015 | |
First Citizens Bancshares, Inc. | 17,689 | 29,781,377 | |
JPMorgan Chase & Co. | 2,069,669 | 418,611,252 | |
Nu Holdings Ltd. Class A (b) | 2,826,995 | 36,439,966 | |
Royal Bank of Canada | 626,130 | 66,661,185 | |
Starling Bank Ltd. Series D (a)(b)(c) | 4,139,223 | 16,063,443 | |
Wells Fargo & Co. | 2,186,337 | 129,846,554 | |
948,588,534 | |||
Capital Markets - 0.8% | |||
Blackstone, Inc. | 86,181 | 10,669,208 | |
Brookfield Asset Management Ltd.: | |||
Class A | 13,381 | 509,398 | |
Class A (d) | 595,497 | 22,658,661 | |
Brookfield Corp. (Canada) Class A | 109,037 | 4,535,072 | |
Coinbase Global, Inc. (b) | 121,561 | 27,014,501 | |
Goldman Sachs Group, Inc. | 76,710 | 34,697,467 | |
Interactive Brokers Group, Inc. | 55,507 | 6,805,158 | |
KKR & Co. LP | 160,587 | 16,900,176 | |
London Stock Exchange Group PLC | 174,803 | 20,727,857 | |
Moody's Corp. | 41,860 | 17,620,130 | |
Morgan Stanley | 817,391 | 79,442,231 | |
MSCI, Inc. | 22,771 | 10,969,929 | |
Raymond James Financial, Inc. | 5,595 | 691,598 | |
TulCo LLC (a)(b)(c)(f) | 1,552 | 1,096,923 | |
UBS Group AG | 1,088,429 | 32,042,904 | |
286,381,213 | |||
Consumer Finance - 0.5% | |||
American Express Co. | 610,560 | 141,375,168 | |
Capital One Financial Corp. | 127,995 | 17,720,908 | |
Discover Financial Services | 108,330 | 14,170,647 | |
173,266,723 | |||
Financial Services - 8.6% | |||
Berkshire Hathaway, Inc. Class A (b) | 3,938 | 2,411,005,058 | |
Block, Inc. Class A (b) | 54,116 | 3,489,941 | |
Fiserv, Inc. (b) | 22,044 | 3,285,438 | |
MasterCard, Inc. Class A | 235,252 | 103,783,772 | |
PayPal Holdings, Inc. (b) | 296,461 | 17,203,632 | |
Toast, Inc. (b) | 123,466 | 3,181,719 | |
Visa, Inc. Class A | 1,924,695 | 505,174,697 | |
3,047,124,257 | |||
Insurance - 1.9% | |||
American International Group, Inc. | 1,443,271 | 107,148,439 | |
Arthur J. Gallagher & Co. | 186,625 | 48,393,729 | |
Chubb Ltd. | 430,220 | 109,740,518 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 71,027 | 80,802,201 | |
Intact Financial Corp. | 313,323 | 52,220,882 | |
Marsh & McLennan Companies, Inc. | 330,532 | 69,649,703 | |
Progressive Corp. | 779,494 | 161,908,699 | |
The Travelers Companies, Inc. | 308,339 | 62,697,652 | |
692,561,823 | |||
TOTAL FINANCIALS | 5,147,922,550 | ||
HEALTH CARE - 11.6% | |||
Biotechnology - 3.5% | |||
Apogee Therapeutics, Inc. | 62,724 | 2,468,189 | |
Blueprint Medicines Corp. (b) | 10,348 | 1,115,307 | |
Celldex Therapeutics, Inc. (b) | 186,594 | 6,905,844 | |
Dyne Therapeutics, Inc. (b) | 100,532 | 3,547,774 | |
Galapagos NV sponsored ADR (b) | 146,876 | 3,639,587 | |
Incyte Corp. (b) | 57,000 | 3,455,340 | |
Insmed, Inc. (b) | 52,112 | 3,491,504 | |
Janux Therapeutics, Inc. (b) | 73,520 | 3,079,753 | |
Krystal Biotech, Inc. (b) | 1,957 | 359,383 | |
Moderna, Inc. (b) | 342,805 | 40,708,094 | |
Neurocrine Biosciences, Inc. (b) | 22,303 | 3,070,454 | |
Recursion Pharmaceuticals, Inc. Class A (b)(d) | 481,654 | 3,612,405 | |
Regeneron Pharmaceuticals, Inc. (b) | 688,134 | 723,249,478 | |
Sarepta Therapeutics, Inc. (b) | 9,719 | 1,535,602 | |
Vaxcyte, Inc. (b) | 159,406 | 12,036,747 | |
Vertex Pharmaceuticals, Inc. (b) | 870,732 | 408,129,503 | |
Viking Therapeutics, Inc. (b) | 52,317 | 2,773,324 | |
1,223,178,288 | |||
Health Care Equipment & Supplies - 1.3% | |||
Alcon, Inc. | 302,018 | 26,903,763 | |
Boston Scientific Corp. (b) | 1,927,776 | 148,458,030 | |
DexCom, Inc. (b) | 122,789 | 13,921,817 | |
EssilorLuxottica SA | 29,690 | 6,397,457 | |
Intuitive Surgical, Inc. (b) | 460,603 | 204,899,245 | |
Straumann Holding AG | 29,208 | 3,618,288 | |
Stryker Corp. | 173,275 | 58,956,819 | |
The Cooper Companies, Inc. | 95,900 | 8,372,070 | |
471,527,489 | |||
Health Care Providers & Services - 1.8% | |||
Elevance Health, Inc. | 36,179 | 19,603,953 | |
Tenet Healthcare Corp. (b) | 143,725 | 19,119,737 | |
UnitedHealth Group, Inc. | 1,202,306 | 612,286,354 | |
651,010,044 | |||
Life Sciences Tools & Services - 0.2% | |||
Danaher Corp. | 115,186 | 28,779,222 | |
Lonza Group AG | 22 | 12,008 | |
Mettler-Toledo International, Inc. (b) | 2,806 | 3,921,638 | |
Thermo Fisher Scientific, Inc. | 22,088 | 12,214,664 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 203,735 | 11,178,939 | |
56,106,471 | |||
Pharmaceuticals - 4.8% | |||
Eli Lilly & Co. | 1,387,990 | 1,256,658,386 | |
Intra-Cellular Therapies, Inc. (b) | 289,221 | 19,808,746 | |
Merck & Co., Inc. | 2,458,796 | 304,398,945 | |
Novo Nordisk A/S Series B | 387,678 | 55,470,856 | |
Royalty Pharma PLC | 804,913 | 21,225,556 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) | 2,368,867 | 38,494,089 | |
UCB SA | 84,816 | 12,598,634 | |
1,708,655,212 | |||
TOTAL HEALTH CARE | 4,110,477,504 | ||
INDUSTRIALS - 5.7% | |||
Aerospace & Defense - 1.6% | |||
Axon Enterprise, Inc. (b) | 55,010 | 16,186,142 | |
General Dynamics Corp. | 33,911 | 9,838,938 | |
General Electric Co. | 1,885,233 | 299,695,490 | |
Howmet Aerospace, Inc. | 434,341 | 33,717,892 | |
Loar Holdings, Inc. (d) | 39,442 | 2,106,597 | |
Lockheed Martin Corp. | 3,899 | 1,821,223 | |
Northrop Grumman Corp. | 48,311 | 21,061,180 | |
Relativity Space, Inc. warrants (a)(b)(c) | 24,482 | 399,057 | |
Rolls-Royce Holdings PLC (b) | 4,386,427 | 25,192,304 | |
Space Exploration Technologies Corp. (a)(b)(c) | 502,424 | 56,271,488 | |
Space Exploration Technologies Corp. Class C (a)(b)(c) | 127,720 | 14,304,640 | |
TransDigm Group, Inc. | 64,223 | 82,051,947 | |
562,646,898 | |||
Air Freight & Logistics - 0.0% | |||
Zipline International, Inc. (a)(b)(c) | 87,466 | 3,669,199 | |
Building Products - 0.3% | |||
Carrier Global Corp. | 271,238 | 17,109,693 | |
The AZEK Co., Inc. Class A, (b) | 39,264 | 1,654,192 | |
Trane Technologies PLC | 310,319 | 102,073,229 | |
120,837,114 | |||
Commercial Services & Supplies - 0.5% | |||
Cintas Corp. | 72,496 | 50,766,049 | |
Clean Harbors, Inc. (b) | 165,002 | 37,315,202 | |
Clean TeQ Water Pty Ltd. (b)(d) | 506,362 | 91,204 | |
GFL Environmental, Inc. | 618,001 | 24,068,633 | |
RB Global, Inc. (d) | 87,298 | 6,666,075 | |
Republic Services, Inc. | 124,692 | 24,232,643 | |
Veralto Corp. | 224,798 | 21,461,465 | |
Waste Connections, Inc. (United States) | 38,576 | 6,764,687 | |
171,365,958 | |||
Construction & Engineering - 0.0% | |||
Centuri Holdings, Inc. | 137,552 | 2,679,513 | |
Electrical Equipment - 1.1% | |||
Eaton Corp. PLC | 523,001 | 163,986,964 | |
Fuji Electric Co. Ltd. | 49,484 | 2,827,545 | |
GE Vernova LLC | 672,954 | 115,418,341 | |
Generac Holdings, Inc. (b) | 63,511 | 8,397,424 | |
Hubbell, Inc. | 197,318 | 72,115,783 | |
Nextracker, Inc. Class A (b) | 85,563 | 4,011,193 | |
nVent Electric PLC | 233,952 | 17,923,063 | |
384,680,313 | |||
Ground Transportation - 0.2% | |||
Canadian Pacific Kansas City Ltd. | 333,182 | 26,239,559 | |
Old Dominion Freight Lines, Inc. | 35,909 | 6,341,529 | |
Uber Technologies, Inc. (b) | 604,614 | 43,943,346 | |
76,524,434 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 289,875 | 29,622,326 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 201,368 | 67,075,681 | |
Deere & Co. | 46,455 | 17,356,982 | |
Indutrade AB | 121,940 | 3,124,720 | |
Ingersoll Rand, Inc. | 164,277 | 14,922,923 | |
Mitsubishi Heavy Industries Ltd. | 741,546 | 7,982,800 | |
PACCAR, Inc. | 1,150,630 | 118,445,852 | |
Parker Hannifin Corp. | 76,005 | 38,444,089 | |
Westinghouse Air Brake Tech Co. | 58,915 | 9,311,516 | |
276,664,563 | |||
Passenger Airlines - 0.1% | |||
Ryanair Holdings PLC sponsored ADR | 446,229 | 51,958,905 | |
Professional Services - 0.3% | |||
RELX PLC (London Stock Exchange) | 76,552 | 3,507,528 | |
Thomson Reuters Corp. | 181,297 | 30,560,945 | |
UL Solutions, Inc. Class A | 88,669 | 3,740,945 | |
Verisk Analytics, Inc. | 192,848 | 51,982,178 | |
89,791,596 | |||
Trading Companies & Distributors - 0.7% | |||
Fastenal Co. | 38,592 | 2,425,121 | |
Ferguson PLC | 61,687 | 11,945,688 | |
FTAI Aviation Ltd. | 117,970 | 12,178,043 | |
Itochu Corp. | 216,867 | 10,660,792 | |
Mitsui & Co. Ltd. | 279,102 | 6,365,373 | |
United Rentals, Inc. | 78,183 | 50,563,292 | |
W.W. Grainger, Inc. | 150,175 | 135,493,892 | |
229,632,201 | |||
TOTAL INDUSTRIALS | 2,000,073,020 | ||
INFORMATION TECHNOLOGY - 27.9% | |||
Communications Equipment - 0.8% | |||
Arista Networks, Inc. (b) | 760,769 | 266,634,319 | |
Motorola Solutions, Inc. | 53,249 | 20,556,776 | |
287,191,095 | |||
Electronic Equipment, Instruments & Components - 2.1% | |||
Amphenol Corp. Class A | 10,610,127 | 714,804,256 | |
Fabrinet (b) | 31,751 | 7,772,327 | |
722,576,583 | |||
IT Services - 0.5% | |||
Accenture PLC Class A | 227,080 | 68,898,343 | |
Cloudflare, Inc. (b) | 147,264 | 12,197,877 | |
Gartner, Inc. (b) | 37,700 | 16,929,562 | |
GoDaddy, Inc. (b) | 24,614 | 3,438,822 | |
Okta, Inc. (b) | 30,036 | 2,811,670 | |
Shopify, Inc. Class A (b) | 1,024,995 | 67,738,605 | |
Wix.com Ltd. (b) | 11,214 | 1,783,811 | |
X Holdings Corp. Class A (a)(b)(c) | 102,340 | 2,978,094 | |
176,776,784 | |||
Semiconductors & Semiconductor Equipment - 12.0% | |||
Advanced Micro Devices, Inc. (b) | 1,383,574 | 224,429,539 | |
Advantest Corp. | 233,794 | 9,474,724 | |
Analog Devices, Inc. | 232,504 | 53,071,363 | |
Applied Materials, Inc. | 397,854 | 93,889,565 | |
Arm Holdings Ltd. ADR (d) | 101,199 | 16,558,180 | |
ASML Holding NV (depository receipt) | 42,435 | 43,399,548 | |
Astera Labs, Inc. | 64,588 | 3,908,220 | |
Broadcom, Inc. | 155,093 | 249,006,464 | |
First Solar, Inc. (b) | 13,444 | 3,031,084 | |
KLA Corp. | 31,564 | 26,024,834 | |
Lam Research Corp. | 29,124 | 31,012,691 | |
Micron Technology, Inc. | 77,296 | 10,166,743 | |
Monolithic Power Systems, Inc. | 105,513 | 86,697,922 | |
NVIDIA Corp. | 25,606,710 | 3,163,452,953 | |
Qualcomm, Inc. | 651,382 | 129,742,267 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 611,909 | 106,355,903 | |
4,250,222,000 | |||
Software - 8.9% | |||
Adobe, Inc. (b) | 25,366 | 14,091,828 | |
ANSYS, Inc. (b) | 19,203 | 6,173,765 | |
Aurora Innovation, Inc. Class A, (b)(d) | 584,648 | 1,619,475 | |
Cadence Design Systems, Inc. (b) | 562,880 | 173,226,320 | |
Check Point Software Technologies Ltd. (b)(d) | 106,617 | 17,591,805 | |
Clear Secure, Inc. (d) | 592,361 | 11,083,074 | |
Constellation Software, Inc. | 1,186 | 3,417,324 | |
CoreWeave, Inc. Class A (c) | 23,380 | 18,200,629 | |
Crowdstrike Holdings, Inc. (b) | 133,080 | 50,994,925 | |
CyberArk Software Ltd. (b) | 27,900 | 7,628,418 | |
Datadog, Inc. Class A (b) | 169,993 | 22,046,392 | |
Fair Isaac Corp. (b) | 490 | 729,443 | |
Figma, Inc. (a)(c) | 264,700 | 6,138,393 | |
HubSpot, Inc. (b) | 13,841 | 8,163,283 | |
Intuit, Inc. | 32,071 | 21,077,382 | |
Microsoft Corp. | 5,212,577 | 2,329,761,290 | |
Monday.com Ltd. (b) | 18,189 | 4,379,184 | |
Oracle Corp. | 106,377 | 15,020,432 | |
Palo Alto Networks, Inc. (b) | 71,714 | 24,311,763 | |
Roper Technologies, Inc. | 2,350 | 1,324,601 | |
Rubrik, Inc. (d) | 84,320 | 2,585,251 | |
Salesforce, Inc. | 677,357 | 174,148,485 | |
Samsara, Inc. (b) | 430,009 | 14,491,303 | |
ServiceNow, Inc. (b) | 96,810 | 76,157,523 | |
Stripe, Inc. Class B (a)(b)(c) | 75,100 | 1,952,600 | |
Synopsys, Inc. (b) | 193,980 | 115,429,739 | |
Tanium, Inc. Class B (a)(b)(c) | 449,538 | 3,812,082 | |
ZenPayroll, Inc. (a)(b)(c) | 50,300 | 1,605,073 | |
Zoom Video Communications, Inc. Class A (b) | 185,908 | 11,003,895 | |
3,138,165,677 | |||
Technology Hardware, Storage & Peripherals - 3.6% | |||
Apple, Inc. | 5,839,917 | 1,230,003,319 | |
Dell Technologies, Inc. | 276,196 | 38,090,190 | |
Samsung Electronics Co. Ltd. | 231,640 | 13,679,841 | |
1,281,773,350 | |||
TOTAL INFORMATION TECHNOLOGY | 9,856,705,489 | ||
MATERIALS - 1.9% | |||
Chemicals - 0.2% | |||
Linde PLC | 40,845 | 17,923,194 | |
Sherwin-Williams Co. | 85,374 | 25,478,163 | |
Westlake Corp. | 180,285 | 26,108,874 | |
69,510,231 | |||
Construction Materials - 0.2% | |||
CRH PLC | 257,220 | 19,286,356 | |
Martin Marietta Materials, Inc. | 22,986 | 12,453,815 | |
Vulcan Materials Co. | 100,995 | 25,115,437 | |
56,855,608 | |||
Containers & Packaging - 0.0% | |||
International Paper Co. | 241,188 | 10,407,262 | |
Metals & Mining - 1.5% | |||
ATI, Inc. (b) | 245,293 | 13,601,497 | |
B2Gold Corp. | 7,549,658 | 20,253,094 | |
Franco-Nevada Corp. | 231,316 | 27,425,500 | |
Freeport-McMoRan, Inc. | 2,405,992 | 116,931,211 | |
High Power Exploration, Inc. (a)(b)(c) | 2,010,004 | 2,653,205 | |
Ivanhoe Electric, Inc. (b) | 1,241,104 | 11,641,556 | |
Ivanhoe Mines Ltd. (b)(d) | 12,841,221 | 165,671,979 | |
Ivanhoe Mines Ltd. (b)(e) | 1,332,254 | 17,188,175 | |
Lundin Gold, Inc. | 136,201 | 2,012,077 | |
Novagold Resources, Inc. (b) | 1,539,141 | 5,389,047 | |
Nucor Corp. | 488,600 | 77,237,888 | |
Orla Mining Ltd. (b) | 22,681 | 87,040 | |
Steel Dynamics, Inc. | 454,299 | 58,831,721 | |
Sunrise Energy Metals Ltd. (b) | 649,534 | 142,990 | |
519,066,980 | |||
TOTAL MATERIALS | 655,840,081 | ||
UTILITIES - 0.5% | |||
Electric Utilities - 0.5% | |||
Constellation Energy Corp. | 750,539 | 150,310,446 | |
Kansai Electric Power Co., Inc. | 224,289 | 3,766,218 | |
NRG Energy, Inc. | 202,202 | 15,743,448 | |
169,820,112 | |||
Gas Utilities - 0.0% | |||
Southwest Gas Holdings, Inc. | 24,893 | 1,751,969 | |
Independent Power and Renewable Electricity Producers - 0.0% | |||
Vistra Corp. | 278,846 | 23,975,179 | |
TOTAL UTILITIES | 195,547,260 | ||
TOTAL COMMON STOCKS (Cost $17,626,514,918) | 34,320,207,686 | ||
Convertible Preferred Stocks - 0.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 80,736 | 19,517,121 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A (a)(b)(c) | 43,228 | 10,807 | |
Series C (a)(b)(c) | 170,098 | 81,647 | |
Series D (a)(b)(c) | 404,900 | 291,528 | |
383,982 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 2,700 | 716,607 | |
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (a)(c) | 3,132 | 3,340,779 | |
Series A2 (a)(c) | 568 | 605,863 | |
3,946,642 | |||
TOTAL CONSUMER DISCRETIONARY | 5,047,231 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G (a)(b)(c) | 8,352 | 262,670 | |
Series H (a)(b)(c) | 11,788 | 475,646 | |
738,316 | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Acrisure Holdings, Inc. Series B (a)(b)(c) | 57,282 | 1,386,797 | |
Circle Internet Financial Ltd.: | |||
Series E (a)(b)(c) | 175,323 | 5,433,260 | |
Series F (a)(b)(c) | 118,667 | 3,677,490 | |
Tenstorrent Holdings, Inc. Series C1 (a)(c) | 63,948 | 4,455,257 | |
14,952,804 | |||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 486,500 | 1,488,690 | |
Health Care Providers & Services - 0.0% | |||
Lyra Health, Inc.: | |||
Series E (a)(b)(c) | 190,800 | 2,665,476 | |
Series F (a)(b)(c) | 11,519 | 160,920 | |
Somatus, Inc. Series E (a)(b)(c) | 2,766 | 2,874,980 | |
5,701,376 | |||
TOTAL HEALTH CARE | 7,190,066 | ||
INDUSTRIALS - 0.6% | |||
Aerospace & Defense - 0.5% | |||
Relativity Space, Inc.: | |||
Series D (a)(b)(c) | 207,384 | 4,058,505 | |
Series E (a)(b)(c) | 143,887 | 3,164,075 | |
Series F (a)(c) | 244,823 | 5,371,417 | |
Space Exploration Technologies Corp.: | |||
Series G (a)(b)(c) | 11,832 | 13,251,840 | |
Series J (a)(c) | 79,868 | 89,452,160 | |
Series N (a)(b)(c) | 49,490 | 55,428,800 | |
170,726,797 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E (a)(b)(c) | 178,019 | 7,467,897 | |
Series F (a)(b)(c) | 286,824 | 12,032,267 | |
Series G (a)(c) | 190,338 | 7,984,679 | |
27,484,843 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 47,990 | 6,018,426 | |
TOTAL INDUSTRIALS | 204,230,066 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
ASAPP, Inc. Series C (a)(b)(c) | 204,122 | 418,450 | |
Carbon, Inc.: | |||
Series D (a)(b)(c) | 9,678 | 66,875 | |
Series E (a)(b)(c) | 7,351 | 60,719 | |
Moloco, Inc. Series A (a)(c) | 95,881 | 5,228,391 | |
Nuro, Inc.: | |||
Series C (a)(b)(c) | 405,967 | 1,165,125 | |
Series D (a)(b)(c) | 114,603 | 420,593 | |
Stripe, Inc.: | |||
Series H (a)(b)(c) | 29,000 | 754,000 | |
Series I (a)(b)(c) | 321,951 | 8,370,726 | |
ZenPayroll, Inc.: | |||
Series D (a)(b)(c) | 184,203 | 5,877,918 | |
Series E (a)(b)(c) | 28,063 | 895,490 | |
23,258,287 | |||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
High Power Exploration, Inc. Series A (a)(b)(c) | 1,289,012 | 2,822,936 | |
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $207,736,293) | 277,756,827 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (a)(c) (Cost $389,358) | 389,358 | 565,222 | |
Money Market Funds - 2.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (h) | 762,386,204 | 762,538,681 | |
Fidelity Securities Lending Cash Central Fund 5.38% (h)(i) | 168,596,439 | 168,613,299 | |
TOTAL MONEY MARKET FUNDS (Cost $931,150,987) | 931,151,980 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $18,765,791,556) | 35,529,681,715 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (154,795,223) |
NET ASSETS - 100.0% | 35,374,886,492 |
(a) | 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 $475,701,656 or 1.3% of net assets. |
(b) | Non-income producing |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $24,077,130 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) | 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. |
(i) | Investment made with cash collateral received from securities on loan. |
(j) | Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $11,272,496 and all restrictions are set to expire on or before September 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
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. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 8,846,581 |
Canva, Inc. Class A | 3/18/24 | 23,253,212 |
Canva, Inc. Series A | 9/22/23 | 3,340,783 |
Canva, Inc. Series A2 | 9/22/23 | 605,864 |
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 |
Figma, Inc. | 5/15/24 | 6,139,187 |
GoBrands, Inc. Series G | 3/02/21 | 2,085,639 |
GoBrands, Inc. Series H | 7/22/21 | 4,579,527 |
High Power Exploration, Inc. | 6/03/24 | 2,653,205 |
High Power Exploration, Inc. Series A | 11/15/19 - 3/04/21 | 6,793,094 |
Lionsgate Studios Corp. | 12/22/23 | 4,896,990 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 389,358 |
Relativity Space, Inc. Series D | 11/20/20 | 3,095,642 |
Relativity Space, Inc. Series E | 5/27/21 | 3,285,674 |
Relativity Space, Inc. Series F | 11/14/23 | 5,549,403 |
Relativity Space, Inc. warrants | 11/14/23 | 0 |
Sable Offshore Corp. | 1/16/24 | 10,763,000 |
Somatus, Inc. Series E | 1/31/22 | 2,413,708 |
Space Exploration Technologies Corp. | 2/16/21 - 4/02/24 | 44,720,055 |
Space Exploration Technologies Corp. Class C | 4/02/24 | 12,388,840 |
Space Exploration Technologies Corp. Series G | 9/07/23 | 9,583,920 |
Space Exploration Technologies Corp. Series J | 9/07/23 | 64,693,080 |
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 Holdings, Inc. Series C1 | 4/23/21 | 3,801,992 |
TulCo LLC | 8/24/17 - 9/07/18 | 651,224 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 11/13/23 | 8,225,615 |
X Holdings Corp. Class A | 10/25/22 | 10,234,000 |
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 |
Zipline International, Inc. Series F | 4/11/23 | 11,529,493 |
Zipline International, Inc. Series G | 6/07/24 | 7,983,975 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 1,100,128,067 | 1,549,987,590 | 1,887,571,239 | 22,581,882 | (5,737) | - | 762,538,681 | 1.5% |
Fidelity Securities Lending Cash Central Fund 5.38% | 251,076,876 | 877,659,319 | 960,122,896 | 252,068 | - | - | 168,613,299 | 0.7% |
Total | 1,351,204,943 | 2,427,646,909 | 2,847,694,135 | 22,833,950 | (5,737) | - | 931,151,980 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 7,173,342,575 | 7,078,555,361 | 66,864,093 | 27,923,121 |
Consumer Discretionary | 3,627,721,300 | 3,533,932,218 | 42,210,248 | 51,578,834 |
Consumer Staples | 733,656,926 | 695,762,618 | 37,154,437 | 739,871 |
Energy | 844,223,649 | 844,223,649 | - | - |
Financials | 5,162,875,354 | 5,094,141,391 | 36,620,793 | 32,113,170 |
Health Care | 4,117,667,570 | 4,043,827,709 | 55,470,856 | 18,369,005 |
Industrials | 2,204,303,086 | 1,868,892,294 | 56,536,342 | 278,874,450 |
Information Technology | 9,879,963,776 | 9,812,543,894 | 9,474,724 | 57,945,158 |
Materials | 658,663,017 | 653,186,876 | - | 5,476,141 |
Utilities | 195,547,260 | 191,781,042 | 3,766,218 | - |
Preferred Securities | 565,222 | - | - | 565,222 |
Money Market Funds | 931,151,980 | 931,151,980 | - | - |
Total Investments in Securities: | 35,529,681,715 | 34,747,999,032 | 308,097,711 | 473,584,972 |
Investments in Securities: | |||
Beginning Balance | $ | 348,573,502 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 36,777,245 | ||
Cost of Purchases | 94,116,601 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (5,882,376) | ||
Ending Balance | $ | 473,584,972 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 36,777,245 | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
June 30, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $163,630,289) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $17,834,640,569) | $ | 34,598,529,735 | ||
Fidelity Central Funds (cost $931,150,987) | 931,151,980 | |||
Total Investment in Securities (cost $18,765,791,556) | $ | 35,529,681,715 | ||
Cash | 101,677 | |||
Foreign currency held at value (cost $266,718) | 266,732 | |||
Receivable for investments sold | 9,727,033 | |||
Receivable for fund shares sold | 24,460,561 | |||
Dividends receivable | 8,129,993 | |||
Distributions receivable from Fidelity Central Funds | 3,139,994 | |||
Other receivables | 177 | |||
Total assets | 35,575,507,882 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,949,593 | ||
Payable for fund shares redeemed | 16,571,629 | |||
Accrued management fee | 13,170,017 | |||
Other payables and accrued expenses | 316,503 | |||
Collateral on securities loaned | 168,613,648 | |||
Total liabilities | 200,621,390 | |||
Commitments and contingent liabilities (see Commitments note) | ||||
Net Assets | $ | 35,374,886,492 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 18,921,395,038 | ||
Total accumulated earnings (loss) | 16,453,491,454 | |||
Net Assets | $ | 35,374,886,492 | ||
Net Asset Value, offering price and redemption price per share ($35,374,886,492 ÷ 1,223,275,390 shares) | $ | 28.92 |
Consolidated Statement of Operations | ||||
Six months ended June 30, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 105,023,224 | ||
Income from Fidelity Central Funds (including $252,068 from security lending) | 22,833,950 | |||
Total income | 127,857,174 | |||
Expenses | ||||
Management fee | $ | 73,652,186 | ||
Independent trustees' fees and expenses | 67,517 | |||
Miscellaneous | 156,362 | |||
Total expenses before reductions | 73,876,065 | |||
Expense reductions | (6,152) | |||
Total expenses after reductions | 73,869,913 | |||
Net Investment income (loss) | 53,987,261 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 208,769,134 | |||
Redemptions in-kind | 261,903,459 | |||
Fidelity Central Funds | (5,737) | |||
Foreign currency transactions | (243,207) | |||
Total net realized gain (loss) | 470,423,649 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of increase in deferred foreign taxes of $130,873) | 6,783,696,865 | |||
Unfunded commitments | 315,279 | |||
Assets and liabilities in foreign currencies | (45,001) | |||
Total change in net unrealized appreciation (depreciation) | 6,783,967,143 | |||
Net gain (loss) | 7,254,390,792 | |||
Net increase (decrease) in net assets resulting from operations | $ | 7,308,378,053 |
Consolidated Statement of Changes in Net Assets | ||||
Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 53,987,261 | $ | 152,378,140 |
Net realized gain (loss) | 470,423,649 | 175,763,351 | ||
Change in net unrealized appreciation (depreciation) | 6,783,967,143 | 7,196,866,404 | ||
Net increase (decrease) in net assets resulting from operations | 7,308,378,053 | 7,525,007,895 | ||
Distributions to shareholders | (32,384,986) | (138,038,744) | ||
Share transactions | ||||
Proceeds from sales of shares | 3,062,315,120 | 6,872,796,883 | ||
Reinvestment of distributions | 32,334,795 | 137,821,339 | ||
Cost of shares redeemed | (3,755,383,172) | (4,722,190,787) | ||
Net increase (decrease) in net assets resulting from share transactions | (660,733,257) | 2,288,427,435 | ||
Total increase (decrease) in net assets | 6,615,259,810 | 9,675,396,586 | ||
Net Assets | ||||
Beginning of period | 28,759,626,682 | 19,084,230,096 | ||
End of period | $ | 35,374,886,492 | $ | 28,759,626,682 |
Other Information | ||||
Shares | ||||
Sold | 116,377,958 | 339,925,449 | ||
Issued in reinvestment of distributions | 1,256,712 | 6,351,213 | ||
Redeemed | (142,228,140) | (232,582,425) | ||
Net increase (decrease) | (24,593,470) | 113,694,237 | ||
Fidelity® Contrafund® K6 |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.05 | $ | 16.83 | $ | 23.34 | $ | 18.89 | $ | 14.47 | $ | 11.08 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .04 | .13 | .12 | .03 | .03 | .05 | ||||||
Net realized and unrealized gain (loss) | 5.86 | 6.20 | (6.43) | 4.53 | 4.43 | 3.38 | ||||||
Total from investment operations | 5.90 | 6.33 | (6.31) | 4.56 | 4.46 | 3.43 | ||||||
Distributions from net investment income | (.03) | (.11) | (.11) | (.05) | (.04) | (.04) | ||||||
Distributions from net realized gain | - | - | (.09) | (.06) | - | - | ||||||
Total distributions | (.03) | (.11) | (.20) | (.11) | (.04) | (.04) | ||||||
Net asset value, end of period | $ | 28.92 | $ | 23.05 | $ | 16.83 | $ | 23.34 | $ | 18.89 | $ | 14.47 |
Total Return C,D | 25.59 % | 37.67% | (27.12)% | 24.14% | 30.83% | 31.00% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .45% G,H | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of fee waivers, if any | .45 % G,H | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of all reductions | .45% G,H | .45% | .45% | .45% | .45% | .45% | ||||||
Net investment income (loss) | .33% G,H | .63% | .64% | .12% | .18% | .39% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 35,374,886 | $ | 28,759,627 | $ | 19,084,230 | $ | 26,146,630 | $ | 17,402,109 | $ | 11,849,878 |
Portfolio turnover rate I | 20 % H,J | 25% J | 38% J | 40% J | 45% J | 39% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $473,019,750 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 0.9 - 55.7 / 15.0 | Increase | ||
Enterprise value/EBITDA multiple (EV/EBITDA) | 19.5 - 22.0 / 21.2 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 15.5 | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.5% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Book value | Book value multiple | 1.0 | Increase | ||
Black scholes | Discount rate | 4.3% - 5.1% / 4.4% | Increase | ||
Volatility | 60.0% - 100.0% / 78.0% | Increase | |||
Term | 1.0 - 5.0 / 4.0 | Increase | |||
Preferred Securities | $565,222 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.6 | Increase | ||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 60.0% | Increase | |||
Term | 2.1 | Increase |
Gross unrealized appreciation | $16,862,512,479 |
Gross unrealized depreciation | (155,604,077) |
Net unrealized appreciation (depreciation) | $16,706,908,402 |
Tax cost | $18,822,773,313 |
Short-term | $(737,716,482) |
Total capital loss carryforward | $(737,716,482) |
Investment to be Acquired | Commitment Amount ($) | Unrealized Appreciation (Depreciation)($) | |
Fidelity Contrafund K6 | Space Exploration Technologies Corp. | 3,068,800 | - |
Amount ($) | % of Net Assets | |
Fidelity Contrafund K6 | 12,275,862 | .03 |
Purchases ($) | Sales ($) | |
Fidelity Contrafund K6 | 3,235,433,424 | 3,158,593,746 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Contrafund K6 | 18,506,847 | 261,903,459 | 496,555,103 |
Shares | Total Proceeds ($) | |
Fidelity Contrafund K6 | 2,577,029 | 70,327,132 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Contrafund K6 | 36,779,822 | 396,537,801 | 806,748,004 |
Shares | Total Proceeds ($) | |
Fidelity Contrafund K6 | 43,028,081 | 787,276,717 |
Amount ($) | |
Fidelity Contrafund K6 | 38,243 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Contrafund K6 | 126,823,392 | 189,365,064 | 24,521,757 |
Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) | |
Fidelity Contrafund K6 | 26,855 | 9,725 | - |
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Contents
Common Stocks - 97.5% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 21.8% | |||
Entertainment - 2.3% | |||
Liberty Media Corp. Liberty Formula One Class C | 2,755,103 | 197,927 | |
Liberty Media Corp. Liberty Live Class C | 149,278 | 5,713 | |
Lionsgate Studios Corp. (a) | 2,062,963 | 16,627 | |
Netflix, Inc. (b) | 3,847,273 | 2,596,448 | |
Sea Ltd. ADR Class A (b) | 448,700 | 32,046 | |
Spotify Technology SA (b) | 121,000 | 37,969 | |
The Walt Disney Co. | 1,731,947 | 171,965 | |
Universal Music Group NV | 8,583,629 | 255,348 | |
3,314,043 | |||
Interactive Media & Services - 19.5% | |||
Alphabet, Inc.: | |||
Class A | 20,574,673 | 3,747,677 | |
Class C | 17,034,843 | 3,124,531 | |
Bumble, Inc. (b) | 1,947,140 | 20,464 | |
Epic Games, Inc. (a)(b)(c) | 123,700 | 74,220 | |
Meta Platforms, Inc. Class A | 41,213,191 | 20,780,519 | |
Pinterest, Inc. Class A (b) | 964,400 | 42,501 | |
Reddit, Inc.: | |||
Class A | 725,149 | 46,330 | |
Class B (m) | 1,043,950 | 66,698 | |
27,902,940 | |||
Wireless Telecommunication Services - 0.0% | |||
T-Mobile U.S., Inc. | 77,000 | 13,566 | |
TOTAL COMMUNICATION SERVICES | 31,230,549 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Automobiles - 0.2% | |||
BYD Co. Ltd. (H Shares) | 991,414 | 29,444 | |
General Motors Co. | 1,929,797 | 89,658 | |
Hyundai Motor Co. Ltd. | 893,860 | 191,074 | |
Rad Power Bikes, Inc. (a)(b)(c) | 2,588,458 | 647 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 2,698,575 | 4,183 | |
Toyota Motor Corp. | 1,661,059 | 34,081 | |
349,087 | |||
Broadline Retail - 6.8% | |||
Amazon.com, Inc. (b) | 48,088,120 | 9,293,029 | |
Coupang, Inc. Class A (b) | 10,062,912 | 210,818 | |
Dollarama, Inc. | 661,376 | 60,387 | |
JD.com, Inc. sponsored ADR | 985,200 | 25,458 | |
MercadoLibre, Inc. (b) | 94,100 | 154,644 | |
Pan Pacific International Holdings Ltd. | 561,886 | 13,144 | |
PDD Holdings, Inc. ADR (b) | 189,900 | 25,247 | |
9,782,727 | |||
Diversified Consumer Services - 0.1% | |||
Duolingo, Inc. (b) | 423,821 | 88,439 | |
Hotels, Restaurants & Leisure - 1.4% | |||
Airbnb, Inc. Class A (b) | 4,190,991 | 635,480 | |
Booking Holdings, Inc. | 78,130 | 309,512 | |
Cava Group, Inc. (d) | 1,258,323 | 116,709 | |
Chipotle Mexican Grill, Inc. (b) | 5,715,850 | 358,098 | |
Deliveroo PLC Class A (b)(e) | 15,920,815 | 26,344 | |
Domino's Pizza, Inc. | 99,551 | 51,401 | |
Doordash, Inc. (b) | 165,884 | 18,045 | |
Dutch Bros, Inc. (b) | 517,073 | 21,407 | |
Hilton Worldwide Holdings, Inc. | 1,689,659 | 368,684 | |
Marriott International, Inc. Class A | 169,423 | 40,961 | |
Misa Investments Ltd. | 1,220,100 | 41,410 | |
Restaurant Brands International, Inc. | 1,056,024 | 74,413 | |
2,062,464 | |||
Household Durables - 0.5% | |||
D.R. Horton, Inc. | 855,214 | 120,525 | |
Garmin Ltd. | 247,293 | 40,289 | |
Lennar Corp. Class A | 3,033,521 | 454,634 | |
PulteGroup, Inc. | 358,200 | 39,438 | |
TopBuild Corp. (b) | 11,473 | 4,420 | |
659,306 | |||
Specialty Retail - 1.4% | |||
Abercrombie & Fitch Co. Class A (b) | 385,254 | 68,514 | |
Dick's Sporting Goods, Inc. | 1,062,534 | 228,285 | |
Fanatics, Inc. Class A (a)(b)(c) | 2,461,391 | 167,252 | |
Fast Retailing Co. Ltd. | 221,828 | 56,109 | |
Gap, Inc. | 3,584,103 | 85,624 | |
Group 1 Automotive, Inc. | 5,524 | 1,642 | |
Industria de Diseno Textil SA | 280,943 | 13,941 | |
O'Reilly Automotive, Inc. (b) | 247,583 | 261,463 | |
Ross Stores, Inc. | 429,549 | 62,422 | |
The Home Depot, Inc. | 36,056 | 12,412 | |
TJX Companies, Inc. | 4,407,500 | 485,266 | |
Williams-Sonoma, Inc. | 1,718,725 | 485,316 | |
1,928,246 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
adidas AG | 377,284 | 90,104 | |
Asics Corp. (d) | 1,189,200 | 18,335 | |
Birkenstock Holding PLC | 136,504 | 7,427 | |
Canva, Inc. Class A (a)(c) | 88,378 | 94,269 | |
Crocs, Inc. (b) | 307,100 | 44,818 | |
Deckers Outdoor Corp. (b) | 113,703 | 110,059 | |
lululemon athletica, Inc. (b) | 53,895 | 16,098 | |
On Holding AG (b)(d) | 8,233,069 | 319,443 | |
Prada SpA | 1,836,200 | 13,732 | |
Ralph Lauren Corp. Class A | 308,897 | 54,076 | |
768,361 | |||
TOTAL CONSUMER DISCRETIONARY | 15,638,630 | ||
CONSUMER STAPLES - 2.0% | |||
Beverages - 0.3% | |||
Kweichow Moutai Co. Ltd. (A Shares) | 44,700 | 9,026 | |
The Coca-Cola Co. | 6,404,001 | 407,615 | |
416,641 | |||
Consumer Staples Distribution & Retail - 1.5% | |||
Alimentation Couche-Tard, Inc. (multi-vtg.) | 1,701,352 | 95,474 | |
Casey's General Stores, Inc. | 342,815 | 130,804 | |
Costco Wholesale Corp. | 2,162,477 | 1,838,084 | |
Walmart, Inc. | 1,770,043 | 119,850 | |
2,184,212 | |||
Food Products - 0.1% | |||
Ajinomoto Co., Inc. | 361,100 | 12,709 | |
Bowery Farming, Inc. (b)(c) | 349,177 | 7 | |
Bowery Farming, Inc. warrants (a)(b)(c) | 122,686 | 2 | |
Mondelez International, Inc. | 748,429 | 48,977 | |
61,695 | |||
Personal Care Products - 0.1% | |||
AMOREPACIFIC Corp. | 90,500 | 10,971 | |
Estee Lauder Companies, Inc. Class A | 50,932 | 5,419 | |
L'Oreal SA | 345,600 | 152,121 | |
168,511 | |||
TOTAL CONSUMER STAPLES | 2,831,059 | ||
ENERGY - 2.0% | |||
Energy Equipment & Services - 0.0% | |||
TechnipFMC PLC | 614,537 | 16,070 | |
Oil, Gas & Consumable Fuels - 2.0% | |||
ARC Resources Ltd. | 713,000 | 12,722 | |
Cameco Corp. | 250,800 | 12,340 | |
Cameco Corp. | 2,751,325 | 135,365 | |
Canadian Natural Resources Ltd. | 9,664,160 | 344,238 | |
Cenovus Energy, Inc. (Canada) | 640,800 | 12,595 | |
ConocoPhillips Co. | 2,260,857 | 258,597 | |
Diamondback Energy, Inc. | 428,672 | 85,816 | |
EOG Resources, Inc. | 360,770 | 45,410 | |
Exxon Mobil Corp. | 10,079,690 | 1,160,374 | |
Hess Corp. | 818,231 | 120,705 | |
Marathon Petroleum Corp. | 1,223,988 | 212,337 | |
Occidental Petroleum Corp. | 950,334 | 59,900 | |
Phillips 66 Co. | 345,358 | 48,754 | |
PrairieSky Royalty Ltd. | 1,137,135 | 21,611 | |
Reliance Industries Ltd. | 536,039 | 20,132 | |
Sable Offshore Corp. (a)(f) | 4,367,875 | 65,824 | |
Shell PLC ADR | 1,200,800 | 86,674 | |
Valero Energy Corp. | 1,327,862 | 208,156 | |
2,911,550 | |||
TOTAL ENERGY | 2,927,620 | ||
FINANCIALS - 15.4% | |||
Banks - 2.6% | |||
AIB Group PLC | 8,321,017 | 43,987 | |
Banco Santander SA (Spain) | 12,967,854 | 60,336 | |
Bank of America Corp. | 14,775,201 | 587,610 | |
Bank of Ireland Group PLC | 2,663,524 | 27,863 | |
Citigroup, Inc. | 3,158,767 | 200,455 | |
East West Bancorp, Inc. | 165,848 | 12,145 | |
First Citizens Bancshares, Inc. | 70,660 | 118,964 | |
JPMorgan Chase & Co. | 8,059,469 | 1,630,108 | |
Nu Holdings Ltd. Class A (b) | 11,284,698 | 145,460 | |
Royal Bank of Canada | 2,425,572 | 258,240 | |
Starling Bank Ltd. Series D (a)(b)(c) | 26,724,113 | 103,711 | |
Wells Fargo & Co. | 8,999,059 | 534,454 | |
3,723,333 | |||
Capital Markets - 0.8% | |||
Blackstone, Inc. | 355,440 | 44,003 | |
Brookfield Asset Management Ltd.: | |||
Class A | 54,733 | 2,084 | |
Class A | 2,397,691 | 91,232 | |
Brookfield Corp. (Canada) Class A | 385,439 | 16,031 | |
Coinbase Global, Inc. (b) | 467,964 | 103,996 | |
Goldman Sachs Group, Inc. | 316,072 | 142,966 | |
Interactive Brokers Group, Inc. | 226,900 | 27,818 | |
KKR & Co. LP | 665,847 | 70,074 | |
London Stock Exchange Group PLC | 690,980 | 81,935 | |
Moody's Corp. | 171,278 | 72,096 | |
Morgan Stanley | 2,475,681 | 240,611 | |
MSCI, Inc. | 104,571 | 50,377 | |
Raymond James Financial, Inc. | 23,079 | 2,853 | |
TulCo LLC (a)(b)(c)(g) | 140,771 | 99,494 | |
UBS Group AG | 4,417,958 | 130,063 | |
1,175,633 | |||
Consumer Finance - 0.5% | |||
American Express Co. | 2,410,115 | 558,062 | |
Capital One Financial Corp. | 527,604 | 73,047 | |
Discover Financial Services | 446,079 | 58,352 | |
689,461 | |||
Financial Services - 9.7% | |||
Berkshire Hathaway, Inc. Class A (b)(d) | 18,764 | 11,488,090 | |
Block, Inc. Class A (b) | 225,880 | 14,567 | |
Fiserv, Inc. (b) | 90,300 | 13,458 | |
MasterCard, Inc. Class A | 917,417 | 404,728 | |
PayPal Holdings, Inc. (b) | 1,183,637 | 68,686 | |
Rapyd Financial Network 2016 Ltd. (a)(b)(c) | 340,545 | 15,447 | |
Toast, Inc. (b) | 507,900 | 13,089 | |
Visa, Inc. Class A | 7,442,380 | 1,953,401 | |
13,971,466 | |||
Insurance - 1.8% | |||
American International Group, Inc. | 5,583,894 | 414,548 | |
Arthur J. Gallagher & Co. | 691,773 | 179,384 | |
Chubb Ltd. | 1,676,041 | 427,525 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 193,721 | 220,382 | |
Intact Financial Corp. | 1,174,370 | 195,730 | |
Marsh & McLennan Companies, Inc. | 1,265,656 | 266,699 | |
Progressive Corp. | 3,009,055 | 625,011 | |
The Travelers Companies, Inc. | 1,174,464 | 238,816 | |
2,568,095 | |||
TOTAL FINANCIALS | 22,127,988 | ||
HEALTH CARE - 11.1% | |||
Biotechnology - 3.3% | |||
Apogee Therapeutics, Inc. | 260,262 | 10,241 | |
Blueprint Medicines Corp. (b) | 40,619 | 4,378 | |
Celldex Therapeutics, Inc. (b) | 767,196 | 28,394 | |
Dyne Therapeutics, Inc. (b) | 412,500 | 14,557 | |
Galapagos NV sponsored ADR (b) | 571,772 | 14,169 | |
Incyte Corp. (b) | 230,500 | 13,973 | |
Insmed, Inc. (b) | 213,600 | 14,311 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(b)(c) | 105,983 | 0 | |
Janux Therapeutics, Inc. (b) | 302,523 | 12,673 | |
Krystal Biotech, Inc. (b) | 8,492 | 1,559 | |
Moderna, Inc. (b) | 1,413,340 | 167,834 | |
Neurocrine Biosciences, Inc. (b) | 93,134 | 12,822 | |
Recursion Pharmaceuticals, Inc. Class A (b)(d) | 1,691,778 | 12,688 | |
Regeneron Pharmaceuticals, Inc. (b) | 2,656,503 | 2,792,064 | |
Sarepta Therapeutics, Inc. (b) | 40,253 | 6,360 | |
Vaxcyte, Inc. (b) | 656,213 | 49,551 | |
Vertex Pharmaceuticals, Inc. (b) | 3,383,647 | 1,585,983 | |
Viking Therapeutics, Inc. (b) | 215,103 | 11,403 | |
4,752,960 | |||
Health Care Equipment & Supplies - 1.3% | |||
Alcon, Inc. | 1,250,683 | 111,411 | |
Boston Scientific Corp. (b) | 7,420,036 | 571,417 | |
DexCom, Inc. (b) | 508,020 | 57,599 | |
EssilorLuxottica SA | 122,621 | 26,422 | |
Intuitive Surgical, Inc. (b) | 1,734,295 | 771,501 | |
Straumann Holding AG | 86,566 | 10,724 | |
Stryker Corp. | 674,796 | 229,599 | |
The Cooper Companies, Inc. | 395,837 | 34,557 | |
1,813,230 | |||
Health Care Providers & Services - 1.8% | |||
Elevance Health, Inc. | 148,500 | 80,466 | |
Tenet Healthcare Corp. (b) | 589,126 | 78,371 | |
UnitedHealth Group, Inc. | 4,729,503 | 2,408,547 | |
2,567,384 | |||
Life Sciences Tools & Services - 0.1% | |||
Danaher Corp. | 306,998 | 76,703 | |
Mettler-Toledo International, Inc. (b) | 7,548 | 10,549 | |
Thermo Fisher Scientific, Inc. | 90,264 | 49,916 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(g) | 1,114,406 | 61,147 | |
198,315 | |||
Pharmaceuticals - 4.6% | |||
Eli Lilly & Co. | 5,274,022 | 4,774,994 | |
Intra-Cellular Therapies, Inc. (b) | 1,179,319 | 80,772 | |
Merck & Co., Inc. | 9,329,118 | 1,154,945 | |
Novo Nordisk A/S Series B | 1,550,941 | 221,916 | |
Royalty Pharma PLC | 2,838,190 | 74,843 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) | 9,542,765 | 155,070 | |
UCB SA | 350,900 | 52,123 | |
6,514,663 | |||
TOTAL HEALTH CARE | 15,846,552 | ||
INDUSTRIALS - 5.4% | |||
Aerospace & Defense - 1.6% | |||
Axon Enterprise, Inc. (b) | 225,910 | 66,472 | |
General Dynamics Corp. | 135,670 | 39,363 | |
General Electric Co. | 7,284,391 | 1,158,000 | |
Howmet Aerospace, Inc. | 1,792,683 | 139,166 | |
Loar Holdings, Inc. (d) | 163,150 | 8,714 | |
Lockheed Martin Corp. | 28,225 | 13,184 | |
Northrop Grumman Corp. | 56,064 | 24,441 | |
Relativity Space, Inc. warrants (a)(b)(c) | 100,694 | 1,641 | |
Rolls-Royce Holdings PLC (b) | 18,075,856 | 103,814 | |
Space Exploration Technologies Corp. (a)(b)(c) | 3,585,070 | 401,528 | |
Space Exploration Technologies Corp. Class C (a)(b)(c) | 129,910 | 14,550 | |
TransDigm Group, Inc. | 208,880 | 266,867 | |
2,237,740 | |||
Air Freight & Logistics - 0.0% | |||
Zipline International, Inc. (a)(b)(c) | 515,816 | 21,638 | |
Building Products - 0.3% | |||
Carrier Global Corp. | 1,065,381 | 67,204 | |
The AZEK Co., Inc. Class A, (b) | 162,707 | 6,855 | |
Trane Technologies PLC | 1,206,651 | 396,904 | |
470,963 | |||
Commercial Services & Supplies - 0.5% | |||
Cintas Corp. | 270,346 | 189,312 | |
Clean Harbors, Inc. (b) | 655,708 | 148,288 | |
Clean TeQ Water Pty Ltd. (b)(d) | 2,083,150 | 375 | |
GFL Environmental, Inc. | 2,486,018 | 96,820 | |
RB Global, Inc. | 356,500 | 27,222 | |
Republic Services, Inc. | 496,927 | 96,573 | |
Veralto Corp. | 901,864 | 86,101 | |
Waste Connections, Inc. (United States) | 158,954 | 27,874 | |
672,565 | |||
Construction & Engineering - 0.0% | |||
Centuri Holdings, Inc. | 569,870 | 11,101 | |
Electrical Equipment - 1.1% | |||
Eaton Corp. PLC | 2,005,739 | 628,899 | |
Fuji Electric Co. Ltd. | 203,900 | 11,651 | |
GE Vernova LLC | 2,653,097 | 455,033 | |
Generac Holdings, Inc. (b) | 263,392 | 34,826 | |
Hubbell, Inc. | 752,698 | 275,096 | |
Nextracker, Inc. Class A (b) | 357,213 | 16,746 | |
nVent Electric PLC | 927,154 | 71,029 | |
1,493,280 | |||
Ground Transportation - 0.2% | |||
Canadian Pacific Kansas City Ltd. | 1,230,340 | 96,895 | |
Old Dominion Freight Lines, Inc. | 5,130 | 906 | |
Uber Technologies, Inc. (b) | 2,432,830 | 176,818 | |
274,619 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 1,194,049 | 122,020 | |
Machinery - 0.7% | |||
Caterpillar, Inc. | 783,178 | 260,877 | |
Deere & Co. | 39,685 | 14,828 | |
Indutrade AB | 400,700 | 10,268 | |
Ingersoll Rand, Inc. | 649,701 | 59,019 | |
Mitsubishi Heavy Industries Ltd. | 3,026,500 | 32,581 | |
PACCAR, Inc. | 4,458,998 | 459,009 | |
Parker Hannifin Corp. | 305,354 | 154,451 | |
Westinghouse Air Brake Tech Co. | 242,500 | 38,327 | |
1,029,360 | |||
Passenger Airlines - 0.1% | |||
Ryanair Holdings PLC sponsored ADR | 1,528,108 | 177,933 | |
Professional Services - 0.2% | |||
RELX PLC (London Stock Exchange) | 316,080 | 14,482 | |
Thomson Reuters Corp. | 657,773 | 110,880 | |
UL Solutions, Inc. Class A | 364,100 | 15,361 | |
Verisk Analytics, Inc. | 724,861 | 195,386 | |
336,109 | |||
Trading Companies & Distributors - 0.6% | |||
Fastenal Co. | 148,316 | 9,320 | |
Ferguson PLC | 254,822 | 49,346 | |
FTAI Aviation Ltd. | 482,300 | 49,788 | |
Itochu Corp. | 894,131 | 43,954 | |
Mitsui & Co. Ltd. | 1,148,044 | 26,183 | |
United Rentals, Inc. | 292,806 | 189,366 | |
W.W. Grainger, Inc. | 580,275 | 523,547 | |
891,504 | |||
TOTAL INDUSTRIALS | 7,738,832 | ||
INFORMATION TECHNOLOGY - 26.7% | |||
Communications Equipment - 0.8% | |||
Arista Networks, Inc. (b) | 2,939,165 | 1,030,119 | |
Motorola Solutions, Inc. | 203,332 | 78,496 | |
1,108,615 | |||
Electronic Equipment, Instruments & Components - 1.9% | |||
Amphenol Corp. Class A | 40,344,598 | 2,718,016 | |
Fabrinet (b) | 130,537 | 31,954 | |
2,749,970 | |||
IT Services - 0.4% | |||
Accenture PLC Class A | 768,155 | 233,066 | |
ASAC II LP (a)(b)(c) | 39,494,500 | 6,635 | |
Cloudflare, Inc. (b) | 450,421 | 37,308 | |
Gartner, Inc. (b) | 147,886 | 66,410 | |
GoDaddy, Inc. (b) | 100,800 | 14,083 | |
Okta, Inc. (b) | 123,287 | 11,541 | |
Shopify, Inc. Class A (b) | 4,005,086 | 264,683 | |
Wix.com Ltd. (b) | 45,571 | 7,249 | |
X Holdings Corp. Class A (a)(b)(c) | 534,690 | 15,559 | |
656,534 | |||
Semiconductors & Semiconductor Equipment - 11.4% | |||
Advanced Micro Devices, Inc. (b) | 4,812,000 | 780,555 | |
Advantest Corp. | 882,382 | 35,759 | |
Analog Devices, Inc. | 869,246 | 198,414 | |
Applied Materials, Inc. | 1,543,562 | 364,265 | |
Arm Holdings Ltd. ADR (d) | 373,915 | 61,180 | |
ASML Holding NV (depository receipt) | 175,047 | 179,026 | |
Astera Labs, Inc. | 266,456 | 16,123 | |
Broadcom, Inc. | 527,446 | 846,830 | |
First Solar, Inc. (b) | 55,300 | 12,468 | |
KLA Corp. | 130,182 | 107,336 | |
Lam Research Corp. | 116,844 | 124,421 | |
Micron Technology, Inc. | 316,300 | 41,603 | |
Monolithic Power Systems, Inc. | 405,685 | 333,343 | |
NVIDIA Corp. | 100,079,050 | 12,363,766 | |
Qualcomm, Inc. | 2,506,155 | 499,176 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 2,402,402 | 417,561 | |
16,381,826 | |||
Software - 8.8% | |||
Adobe, Inc. (b) | 45,066 | 25,036 | |
ANSYS, Inc. (b) | 79,064 | 25,419 | |
Aurora Innovation, Inc. Class A, (b)(d) | 2,420,151 | 6,704 | |
Cadence Design Systems, Inc. (b) | 1,929,574 | 593,826 | |
Check Point Software Technologies Ltd. (b) | 417,853 | 68,946 | |
Clear Secure, Inc. (d) | 2,305,277 | 43,132 | |
Constellation Software, Inc. | 5,000 | 14,407 | |
CoreWeave, Inc. Class A (c) | 96,706 | 75,283 | |
Crowdstrike Holdings, Inc. (b) | 497,515 | 190,643 | |
CyberArk Software Ltd. (b) | 113,000 | 30,896 | |
Datadog, Inc. Class A (b) | 611,220 | 79,269 | |
Fair Isaac Corp. (b) | 938 | 1,396 | |
Figma, Inc. (a)(c) | 1,076,100 | 24,955 | |
HubSpot, Inc. (b) | 47,476 | 28,001 | |
Intuit, Inc. | 110,119 | 72,371 | |
Microsoft Corp. | 21,332,763 | 9,534,678 | |
Monday.com Ltd. (b) | 74,700 | 17,985 | |
Oracle Corp. | 433,600 | 61,224 | |
Palo Alto Networks, Inc. (b) | 235,433 | 79,814 | |
Roper Technologies, Inc. | 5,145 | 2,900 | |
Rubrik, Inc. (d) | 348,500 | 10,685 | |
Salesforce, Inc. | 2,556,809 | 657,356 | |
Samsara, Inc. (b) | 1,731,120 | 58,339 | |
ServiceNow, Inc. (b) | 358,874 | 282,315 | |
Stripe, Inc. Class B (a)(b)(c) | 455,600 | 11,846 | |
Synopsys, Inc. (b) | 759,722 | 452,080 | |
Tanium, Inc. Class B (a)(b)(c) | 6,742,751 | 57,179 | |
ZenPayroll, Inc. (a)(b)(c) | 289,200 | 9,228 | |
Zoom Video Communications, Inc. Class A (b) | 764,299 | 45,239 | |
12,561,152 | |||
Technology Hardware, Storage & Peripherals - 3.4% | |||
Apple, Inc. | 21,972,570 | 4,627,863 | |
Dell Technologies, Inc. | 1,112,932 | 153,484 | |
Samsung Electronics Co. Ltd. | 890,650 | 52,599 | |
4,833,946 | |||
TOTAL INFORMATION TECHNOLOGY | 38,292,043 | ||
MATERIALS - 1.7% | |||
Chemicals - 0.2% | |||
Linde PLC | 162,845 | 71,458 | |
Sherwin-Williams Co. | 300,626 | 89,716 | |
Westlake Corp. | 715,721 | 103,651 | |
264,825 | |||
Construction Materials - 0.2% | |||
CRH PLC | 1,053,565 | 78,996 | |
Martin Marietta Materials, Inc. | 95,675 | 51,837 | |
Vulcan Materials Co. | 408,457 | 101,575 | |
232,408 | |||
Containers & Packaging - 0.0% | |||
International Paper Co. | 987,200 | 42,598 | |
Metals & Mining - 1.3% | |||
ATI, Inc. (b) | 1,007,019 | 55,839 | |
B2Gold Corp. | 25,276,140 | 67,807 | |
Franco-Nevada Corp. | 955,960 | 113,341 | |
Freeport-McMoRan, Inc. | 6,388,930 | 310,502 | |
High Power Exploration, Inc. (a)(b)(c) | 14,027,051 | 18,516 | |
Ivanhoe Electric, Inc. (b) | 4,854,811 | 45,538 | |
Ivanhoe Mines Ltd. (b) | 42,729,882 | 551,283 | |
Ivanhoe Mines Ltd. (b)(e) | 11,916,217 | 153,738 | |
Lundin Gold, Inc. | 553,500 | 8,177 | |
Novagold Resources, Inc. (b) | 5,873,279 | 20,564 | |
Nucor Corp. | 1,814,990 | 286,914 | |
Orla Mining Ltd. (b) | 94,526 | 363 | |
Steel Dynamics, Inc. | 1,708,368 | 221,234 | |
Sunrise Energy Metals Ltd. (b) | 2,491,045 | 548 | |
1,854,364 | |||
TOTAL MATERIALS | 2,394,195 | ||
UTILITIES - 0.5% | |||
Electric Utilities - 0.4% | |||
Constellation Energy Corp. | 2,902,812 | 581,346 | |
Kansai Electric Power Co., Inc. | 924,054 | 15,517 | |
NRG Energy, Inc. | 833,784 | 64,918 | |
661,781 | |||
Gas Utilities - 0.0% | |||
Southwest Gas Holdings, Inc. | 104,684 | 7,368 | |
Independent Power and Renewable Electricity Producers - 0.1% | |||
Vistra Corp. | 1,088,038 | 93,550 | |
TOTAL UTILITIES | 762,699 | ||
TOTAL COMMON STOCKS (Cost $40,335,979) | 139,790,167 | ||
Convertible Preferred Stocks - 1.4% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 653,587 | 157,998 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A (a)(b)(c) | 337,463 | 84 | |
Series C (a)(b)(c) | 1,327,879 | 637 | |
Series D (a)(b)(c) | 2,329,100 | 1,677 | |
2,398 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 15,500 | 4,114 | |
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A (a)(c) | 13,120 | 13,995 | |
Series A2 (a)(c) | 2,380 | 2,539 | |
16,534 | |||
TOTAL CONSUMER DISCRETIONARY | 23,046 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G (a)(b)(c) | 55,517 | 1,746 | |
Series H (a)(b)(c) | 69,898 | 2,820 | |
4,566 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Acrisure Holdings, Inc. Series B (a)(b)(c) | 379,681 | 9,192 | |
Circle Internet Financial Ltd.: | |||
Series E (a)(b)(c) | 1,059,433 | 32,832 | |
Series F (a)(b)(c) | 637,828 | 19,766 | |
Tenstorrent Holdings, Inc. Series C1 (a)(c) | 387,402 | 26,990 | |
88,780 | |||
HEALTH CARE - 0.1% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 3,224,900 | 9,868 | |
Intarcia Therapeutics, Inc. (a)(b)(c) | 2,100,446 | 0 | |
9,868 | |||
Health Care Providers & Services - 0.1% | |||
Get Heal, Inc. Series B (a)(b)(c) | 35,877,127 | 60 | |
Lyra Health, Inc.: | |||
Series E (a)(b)(c) | 1,478,100 | 20,649 | |
Series F (a)(b)(c) | 69,520 | 971 | |
Somatus, Inc. Series E (a)(b)(c) | 15,253 | 15,854 | |
37,534 | |||
TOTAL HEALTH CARE | 47,402 | ||
INDUSTRIALS - 1.0% | |||
Aerospace & Defense - 0.9% | |||
Relativity Space, Inc.: | |||
Series D (a)(b)(c) | 1,673,085 | 32,742 | |
Series E (a)(b)(c) | 436,722 | 9,604 | |
Series F (a)(c) | 1,006,942 | 22,092 | |
Space Exploration Technologies Corp.: | |||
Series G (a)(b)(c) | 558,215 | 625,201 | |
Series H (a)(b)(c) | 120,282 | 134,716 | |
Series N (a)(b)(c) | 428,458 | 479,873 | |
1,304,228 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E (a)(b)(c) | 1,317,166 | 55,255 | |
Series F (a)(b)(c) | 682,143 | 28,616 | |
Series G (a)(c) | 772,245 | 32,396 | |
116,267 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 259,581 | 32,554 | |
TOTAL INDUSTRIALS | 1,453,049 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
ASAPP, Inc. Series C (a)(b)(c) | 1,300,504 | 2,666 | |
Carbon, Inc.: | |||
Series D (a)(b)(c) | 915,425 | 6,326 | |
Series E (a)(b)(c) | 81,735 | 675 | |
Moloco, Inc. Series A (a)(c) | 419,608 | 22,881 | |
Nuro, Inc.: | |||
Series C (a)(b)(c) | 3,293,118 | 9,451 | |
Series D (a)(b)(c) | 643,113 | 2,360 | |
Stripe, Inc.: | |||
Series H (a)(b)(c) | 190,300 | 4,948 | |
Series I (a)(b)(c) | 2,114,059 | 54,966 | |
ZenPayroll, Inc.: | |||
Series D (a)(b)(c) | 2,436,137 | 77,737 | |
Series E (a)(b)(c) | 167,099 | 5,332 | |
187,342 | |||
MATERIALS - 0.0% | |||
Metals & Mining - 0.0% | |||
High Power Exploration, Inc. Series A (a)(b)(c) | 14,154,085 | 30,997 | |
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $950,876) | 1,993,180 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (a)(c) | 2,699 | 3,918 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (a)(c)(i)(j) | 9,273 | 0 | |
TOTAL PREFERRED SECURITIES (Cost $11,972) | 3,918 | ||
Money Market Funds - 1.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.38% (k) | 1,508,437,208 | 1,508,739 | |
Fidelity Securities Lending Cash Central Fund 5.38% (k)(l) | 189,265,437 | 189,284 | |
TOTAL MONEY MARKET FUNDS (Cost $1,698,022) | 1,698,023 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $42,996,849) | 143,485,288 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (211,989) |
NET ASSETS - 100.0% | 143,273,299 |
(a) | 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 $3,283,196,000 or 2.3% of net assets. |
(b) | Non-income producing |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $180,082,000 or 0.1% of net assets. |
(f) | Affiliated company |
(g) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(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. |
(m) | Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $66,698 and all restrictions are set to expire on or before September 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (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. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 71,616 |
Canva, Inc. Class A | 3/18/24 | 94,269 |
Canva, Inc. Series A | 9/22/23 | 13,995 |
Canva, Inc. Series A2 | 9/22/23 | 2,539 |
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 |
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 |
Figma, Inc. | 5/15/24 | 24,958 |
Get Heal, Inc. Series B | 8/17/23 | 77 |
GoBrands, Inc. Series G | 3/02/21 | 13,864 |
GoBrands, Inc. Series H | 7/22/21 | 27,155 |
High Power Exploration, Inc. | 6/03/24 | 18,516 |
High Power Exploration, Inc. Series A | 11/15/19 - 3/04/21 | 74,592 |
Intarcia Therapeutics, Inc. | 11/14/12 | 28,629 |
Intarcia Therapeutics, Inc. warrants 12/31/24 | 1/03/20 | 0 |
Intarcia Therapeutics, Inc. 6% | 1/03/20 | 9,273 |
Lionsgate Studios Corp. | 12/22/23 | 19,866 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 2,699 |
Rapyd Financial Network 2016 Ltd. | 3/30/21 | 25,000 |
Relativity Space, Inc. Series D | 11/20/20 | 24,974 |
Relativity Space, Inc. Series E | 5/27/21 | 9,973 |
Relativity Space, Inc. Series F | 11/14/23 | 22,824 |
Relativity Space, Inc. warrants | 11/14/23 | 0 |
Sable Offshore Corp. | 1/16/24 | 43,679 |
Somatus, Inc. Series E | 1/31/22 | 13,310 |
Space Exploration Technologies Corp. | 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 Holdings, Inc. Series C1 | 4/23/21 | 23,033 |
TulCo LLC | 8/24/17 - 9/07/18 | 51,985 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 11/13/23 | 44,293 |
X Holdings Corp. Class A | 10/25/22 | 53,469 |
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 |
Zipline International, Inc. Series F | 4/11/23 | 27,420 |
Zipline International, Inc. Series G | 6/07/24 | 32,393 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 2,624,919 | 5,644,519 | 6,760,697 | 61,473 | (2) | - | 1,508,739 | 2.9% |
Fidelity Securities Lending Cash Central Fund 5.38% | 559,473 | 1,672,954 | 2,043,143 | 455 | - | - | 189,284 | 0.8% |
Total | 3,184,392 | 7,317,473 | 8,803,840 | 61,928 | (2) | - | 1,698,023 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
Sable Offshore Corp. | - | 43,679 | - | - | - | 22,145 | 65,824 |
Total | - | 43,679 | - | - | - | 22,145 | 65,824 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 31,388,547 | 30,900,981 | 255,348 | 232,218 |
Consumer Discretionary | 15,661,676 | 15,207,225 | 165,054 | 289,397 |
Consumer Staples | 2,835,625 | 2,666,220 | 164,830 | 4,575 |
Energy | 2,927,620 | 2,927,620 | - | - |
Financials | 22,216,768 | 21,767,065 | 142,271 | 307,432 |
Health Care | 15,893,954 | 15,563,489 | 221,916 | 108,549 |
Industrials | 9,191,881 | 7,066,810 | 232,665 | 1,892,406 |
Information Technology | 38,479,385 | 38,055,599 | 35,759 | 388,027 |
Materials | 2,425,192 | 2,375,679 | - | 49,513 |
Utilities | 762,699 | 747,182 | 15,517 | - |
Preferred Securities | 3,918 | - | - | 3,918 |
Money Market Funds | 1,698,023 | 1,698,023 | - | - |
Total Investments in Securities: | 143,485,288 | 138,975,893 | 1,233,360 | 3,276,035 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 1,628,316 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 231,697 | ||
Cost of Purchases | 32,393 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 1,892,406 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 231,697 | |
Other Investments in Securities | |||
Beginning Balance | $ | 1,332,063 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (18,007) | ||
Cost of Purchases | 137,792 | ||
Proceeds of Sales | (33,414) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (34,805) | ||
Ending Balance | $ | 1,383,629 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | (34,195) | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | June 30, 2024 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $178,994) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $41,255,148) | $ | 141,721,441 | ||
Fidelity Central Funds (cost $1,698,022) | 1,698,023 | |||
Other affiliated issuers (cost $43,679) | 65,824 | |||
Total Investment in Securities (cost $42,996,849) | $ | 143,485,288 | ||
Foreign currency held at value (cost $465) | 466 | |||
Receivable for investments sold | 39,463 | |||
Receivable for fund shares sold | 39,272 | |||
Dividends receivable | 33,483 | |||
Distributions receivable from Fidelity Central Funds | 8,076 | |||
Other receivables | 4,218 | |||
Total assets | 143,610,266 | |||
Liabilities | ||||
Payable to custodian bank | $ | 97 | ||
Payable for investments purchased | 7,975 | |||
Payable for fund shares redeemed | 55,152 | |||
Accrued management fee | 78,441 | |||
Other payables and accrued expenses | 6,200 | |||
Collateral on securities loaned | 189,102 | |||
Total liabilities | 336,967 | |||
Commitments and contingent liabilities (see Commitments note) | ||||
Net Assets | $ | 143,273,299 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 38,597,738 | ||
Total accumulated earnings (loss) | 104,675,561 | |||
Net Assets | $ | 143,273,299 | ||
Net Asset Value and Maximum Offering Price | ||||
Contrafund : | ||||
Net Asset Value, offering price and redemption price per share ($131,410,234 ÷ 6,506,590 shares) | $ | 20.20 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($11,863,065 ÷ 585,363 shares) | $ | 20.27 |
Consolidated Statement of Operations | ||||
Amounts in thousands | Six months ended June 30, 2024 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 401,491 | ||
Income from Fidelity Central Funds (including $455 from security lending) | 61,928 | |||
Total income | 463,419 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 379,960 | ||
Performance adjustment | 21,613 | |||
Transfer agent fees | 22,672 | |||
Accounting fees | 624 | |||
Custodian fees and expenses | 491 | |||
Independent trustees' fees and expenses | 274 | |||
Registration fees | 457 | |||
Audit | 102 | |||
Legal | 58 | |||
Miscellaneous | 782 | |||
Total expenses before reductions | 427,033 | |||
Expense reductions | (5,444) | |||
Total expenses after reductions | 421,589 | |||
Net Investment income (loss) | 41,830 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $875) | 3,696,699 | |||
Redemptions in-kind | 980,509 | |||
Fidelity Central Funds | (2) | |||
Foreign currency transactions | (524) | |||
Total net realized gain (loss) | 4,676,682 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $399) | 24,911,902 | |||
Affiliated issuers | 22,145 | |||
Unfunded commitments | 1,279 | |||
Assets and liabilities in foreign currencies | (401) | |||
Total change in net unrealized appreciation (depreciation) | 24,934,925 | |||
Net gain (loss) | 29,611,607 | |||
Net increase (decrease) in net assets resulting from operations | $ | 29,653,437 |
Consolidated Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 41,830 | $ | 600,684 |
Net realized gain (loss) | 4,676,682 | 3,986,916 | ||
Change in net unrealized appreciation (depreciation) | 24,934,925 | 29,562,685 | ||
Net increase (decrease) in net assets resulting from operations | 29,653,437 | 34,150,285 | ||
Distributions to shareholders | (100,329) | (4,919,432) | ||
Share transactions - net increase (decrease) | (3,139,830) | (3,271,706) | ||
Total increase (decrease) in net assets | 26,413,278 | 25,959,147 | ||
Net Assets | ||||
Beginning of period | 116,860,021 | 90,900,874 | ||
End of period | $ | 143,273,299 | $ | 116,860,021 |
Fidelity® Contrafund® |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.09 | $ | 12.09 | $ | 18.76 | $ | 16.77 | $ | 13.71 | $ | 11.01 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | .08 | .06 | (.05) | (.04) | - C | ||||||
Net realized and unrealized gain (loss) | 4.11 | 4.61 | (5.29) | 4.07 | 4.44 | 3.27 | ||||||
Total from investment operations | 4.12 | 4.69 | (5.23) | 4.02 | 4.40 | 3.27 | ||||||
Distributions from net investment income | - C | (.08) | (.08) | - | - | - | ||||||
Distributions from net realized gain | (.01) | (.61) | (1.36) | (2.03) | (1.34) | (.57) | ||||||
Total distributions | (.01) | (.69) | (1.44) | (2.03) | (1.34) | (.57) | ||||||
Net asset value, end of period | $ | 20.20 | $ | 16.09 | $ | 12.09 | $ | 18.76 | $ | 16.77 | $ | 13.71 |
Total Return D,E | 25.63 % | 39.33% | (28.26)% | 24.36% | 32.58% | 29.98% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .65% H | .42% | .55% | .81% | .86% | .85% | ||||||
Expenses net of fee waivers, if any | .64 % H | .42% | .54% | .81% | .86% | .85% | ||||||
Expenses net of all reductions | .64% H | .42% | .54% | .81% | .85% | .85% | ||||||
Net investment income (loss) | .06% H | .57% | .41% | (.26)% | (.23)% | (.02)% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 131,410 | $ | 106,982 | $ | 82,279 | $ | 128,577 | $ | 113,100 | $ | 97,098 |
Portfolio turnover rate I,J | 18 % H | 16% | 25% | 27% | 32% | 26% |
Fidelity® Contrafund® Class K |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 16.15 | $ | 12.13 | $ | 18.82 | $ | 16.81 | $ | 13.73 | $ | 11.01 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | .09 | .07 | (.03) | (.02) | .01 | ||||||
Net realized and unrealized gain (loss) | 4.13 | 4.63 | (5.31) | 4.07 | 4.44 | 3.28 | ||||||
Total from investment operations | 4.14 | 4.72 | (5.24) | 4.04 | 4.42 | 3.29 | ||||||
Distributions from net investment income | (.02) | (.09) | (.09) | - | - | - | ||||||
Distributions from net realized gain | (.01) | (.61) | (1.36) | (2.03) | (1.34) | (.57) | ||||||
Total distributions | (.02) C | (.70) | (1.45) | (2.03) | (1.34) | (.57) | ||||||
Net asset value, end of period | $ | 20.27 | $ | 16.15 | $ | 12.13 | $ | 18.82 | $ | 16.81 | $ | 13.73 |
Total Return D,E | 25.68 % | 39.47% | (28.22)% | 24.42% | 32.68% | 30.17% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .58% H | .35% | .47% | .74% | .78% | .77% | ||||||
Expenses net of fee waivers, if any | .57 % H | .34% | .47% | .74% | .78% | .76% | ||||||
Expenses net of all reductions | .57% H | .34% | .47% | .74% | .78% | .76% | ||||||
Net investment income (loss) | .13% H | .64% | .48% | (.18)% | (.16)% | .06% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 11,863 | $ | 9,878 | $ | 8,622 | $ | 16,588 | $ | 23,196 | $ | 22,626 |
Portfolio turnover rate I,J | 18 % H | 16% | 25% | 27% | 32% | 26% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $3,272,117 | Recovery value | Recovery value | $0.00 - $0.17 / $0.08 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 0.9 - 55.7 / 12.3 | Increase | ||
Enterprise value/EBITDA multiple (EV/EBITDA) | 19.5 - 22.0 / 21.1 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 15.5 | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.5% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Book value | Book value multiple | 1.0 | Increase | ||
Black scholes | Discount rate | 4.3% - 5.1% / 4.5% | Increase | ||
Volatility | 60.0% - 100.0% / 77.3% | Increase | |||
Term | 1.0 - 5.0 / 3.8 | Increase | |||
Preferred Securities | $3,918 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.6 | Increase | ||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 60.0% | Increase | |||
Term | 2.1 | Increase |
Fidelity Contrafund | $4,220 |
Gross unrealized appreciation | $100,812,908 |
Gross unrealized depreciation | (726,959) |
Net unrealized appreciation (depreciation) | $100,085,949 |
Tax cost | $43,399,339 |
Investment to be Acquired | Commitment Amount ($) | Unrealized Appreciation (Depreciation)($) | |
Fidelity Contrafund | Space Exploration Technologies Corp. | 12,443 | - |
Amount ($) | % of Net Assets | |
Fidelity Contrafund | 160,641 | .11 |
Purchases ($) | Sales ($) | |
Fidelity Contrafund | 11,707,392 | 12,556,939 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Contrafund | 62,272 | 980,509 | 1,145,843 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Contrafund | 70,792 | 598,967 | 935,466 |
Shares | Total Proceeds ($) | |
Fidelity Contrafund | 21,380 | 341,440 |
Maximum Management Fee Rate % | |
Contrafund | .61 |
Class K | .54 |
Total Management Fee Rate % | |
Contrafund | .60 |
Class K | .53 |
Performance Adjustment Index | |
Fidelity Contrafund | S&P 500 Index |
Amount ($) | % of Class-Level Average Net Assets | ||
Contrafund | 21,934 | .1152 | |
Class K | 738 | .0420 | |
22,672 | |||
% of Average Net Assets | |
Fidelity Contrafund | .0030 |
Amount ($) | |
Fidelity Contrafund | 147 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Contrafund | 479,786 | 687,238 | 230,619 |
Amount ($) | |
Fidelity Contrafund | 114 |
Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) | |
Fidelity Contrafund | 47 | 25 | - |
Six months ended June 30, 2024 | Year ended December 31, 2023 | |
Fidelity Contrafund | ||
Distributions to shareholders | ||
Contrafund | $85,792 | $4,485,640 |
Class K | 14,537 | 433,792 |
Total | $100,329 | $4,919,432 |
Shares | Shares | Dollars | Dollars | |
Six months ended June 30, 2024 | Year ended December 31, 2023 | Six months ended June 30, 2024 | Year ended December 31, 2023 | |
Fidelity Contrafund | ||||
Contrafund | ||||
Shares sold | 349,427 | 340,492 | $6,461,893 | $4,969,610 |
Reinvestment of distributions | 4,388 | 281,456 | 79,113 | 4,141,294 |
Shares redeemed | (497,771) | (779,442) | (9,181,516) | (11,096,644) |
Net increase (decrease) | (143,956) | (157,494) | $(2,640,510) | $(1,985,740) |
Class K | ||||
Shares sold | 55,809 | 103,349 | $1,021,807 | $1,509,223 |
Reinvestment of distributions | 802 | 29,492 | 14,513 | 433,760 |
Shares redeemed | (83,091) | (231,967) | (1,535,640) | (3,228,949) |
Net increase (decrease) | (26,480) | (99,126) | $(499,320) | $(1,285,966) |
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Contents
Common Stocks - 97.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 19.8% | |||
Entertainment - 3.1% | |||
Liberty Media Corp. Liberty Formula One Class C | 234,198 | 16,824,784 | |
Liberty Media Corp. Liberty Live Class C | 9,488 | 363,106 | |
Lionsgate Studios Corp. (a) | 165,588 | 1,334,639 | |
Netflix, Inc. (b) | 388,009 | 261,859,514 | |
Sea Ltd. ADR Class A (b) | 35,000 | 2,499,700 | |
Spotify Technology SA (b) | 9,364 | 2,938,330 | |
The Walt Disney Co. | 135,000 | 13,404,150 | |
Universal Music Group NV | 1,308,753 | 38,933,124 | |
338,157,347 | |||
Interactive Media & Services - 16.7% | |||
Alphabet, Inc.: | |||
Class A | 1,337,312 | 243,591,381 | |
Class C | 1,343,300 | 246,388,086 | |
Bumble, Inc. (b) | 154,490 | 1,623,690 | |
Epic Games, Inc. (a)(b)(c) | 7,100 | 4,260,000 | |
Meta Platforms, Inc. Class A | 2,582,254 | 1,302,024,108 | |
Pinterest, Inc. Class A (b) | 75,600 | 3,331,692 | |
Reddit, Inc.: | |||
Class A (d) | 56,500 | 3,609,785 | |
Class B (j) | 59,496 | 3,801,199 | |
1,808,629,941 | |||
Wireless Telecommunication Services - 0.0% | |||
T-Mobile U.S., Inc. | 5,900 | 1,039,462 | |
TOTAL COMMUNICATION SERVICES | 2,147,826,750 | ||
CONSUMER DISCRETIONARY - 10.5% | |||
Automobiles - 0.3% | |||
BYD Co. Ltd. (H Shares) | 93,000 | 2,761,992 | |
General Motors Co. | 115,500 | 5,366,130 | |
Hyundai Motor Co. Ltd. | 105,760 | 22,607,543 | |
Rad Power Bikes, Inc. (a)(b)(c) | 145,919 | 36,480 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 150,652 | 233,511 | |
Toyota Motor Corp. | 132,600 | 2,720,617 | |
33,726,273 | |||
Broadline Retail - 5.6% | |||
Amazon.com, Inc. (b) | 3,009,540 | 581,593,605 | |
Coupang, Inc. Class A (b) | 419,326 | 8,784,880 | |
Dollarama, Inc. | 45,800 | 4,181,776 | |
JD.com, Inc. sponsored ADR | 76,300 | 1,971,592 | |
MercadoLibre, Inc. (b) | 7,700 | 12,654,180 | |
Pan Pacific International Holdings Ltd. | 44,000 | 1,029,241 | |
PDD Holdings, Inc. ADR (b) | 14,600 | 1,941,070 | |
612,156,344 | |||
Diversified Consumer Services - 0.1% | |||
Duolingo, Inc. (b) | 33,604 | 7,012,147 | |
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (b) | 469,600 | 71,205,448 | |
Booking Holdings, Inc. | 6,500 | 25,749,750 | |
Cava Group, Inc. (d) | 101,374 | 9,402,439 | |
Chipotle Mexican Grill, Inc. (b) | 752,700 | 47,156,655 | |
Deliveroo PLC Class A (b)(e) | 189,638 | 313,795 | |
Domino's Pizza, Inc. | 8,000 | 4,130,640 | |
Doordash, Inc. (b) | 12,900 | 1,403,262 | |
Dutch Bros, Inc. (b) | 40,500 | 1,676,700 | |
Hilton Worldwide Holdings, Inc. | 186,413 | 40,675,317 | |
Marriott International, Inc. Class A | 14,700 | 3,554,019 | |
Misa Investments Ltd. | 95,000 | 3,224,300 | |
Restaurant Brands International, Inc. | 88,000 | 6,200,943 | |
214,693,268 | |||
Household Durables - 0.6% | |||
Blu Investments LLC (a)(b)(c) | 21,093,998 | 6,539 | |
D.R. Horton, Inc. | 72,311 | 10,190,789 | |
Garmin Ltd. | 19,738 | 3,215,715 | |
Lennar Corp. Class A | 326,136 | 48,878,002 | |
PulteGroup, Inc. | 28,100 | 3,093,810 | |
TopBuild Corp. (b) | 1,000 | 385,270 | |
65,770,125 | |||
Specialty Retail - 1.4% | |||
Abercrombie & Fitch Co. Class A (b) | 31,300 | 5,566,392 | |
Dick's Sporting Goods, Inc. | 86,019 | 18,481,182 | |
Fanatics, Inc. Class A (a)(b)(c) | 139,938 | 9,508,787 | |
Fast Retailing Co. Ltd. | 19,000 | 4,805,883 | |
Gap, Inc. | 286,432 | 6,842,860 | |
Group 1 Automotive, Inc. | 300 | 89,184 | |
Industria de Diseno Textil SA | 22,000 | 1,091,714 | |
O'Reilly Automotive, Inc. (b) | 31,346 | 33,103,257 | |
Ross Stores, Inc. | 34,600 | 5,028,072 | |
TJX Companies, Inc. | 458,400 | 50,469,840 | |
Williams-Sonoma, Inc. | 78,514 | 22,169,998 | |
157,157,169 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
adidas AG | 29,600 | 7,069,127 | |
Asics Corp. | 93,200 | 1,436,974 | |
Birkenstock Holding PLC | 10,400 | 565,864 | |
Canva, Inc. Class A (a)(c) | 6,900 | 7,359,954 | |
China Hongxing Sports Ltd. (b)(c) | 22,200 | 0 | |
Crocs, Inc. (b) | 24,200 | 3,531,748 | |
Deckers Outdoor Corp. (b) | 13,084 | 12,664,658 | |
lululemon athletica, Inc. (b) | 5,334 | 1,593,266 | |
On Holding AG (b) | 302,700 | 11,744,760 | |
Prada SpA | 143,500 | 1,073,165 | |
Ralph Lauren Corp. Class A | 25,300 | 4,429,018 | |
51,468,534 | |||
TOTAL CONSUMER DISCRETIONARY | 1,141,983,860 | ||
CONSUMER STAPLES - 1.6% | |||
Beverages - 0.2% | |||
Kweichow Moutai Co. Ltd. (A Shares) | 3,589 | 724,684 | |
The Coca-Cola Co. | 386,350 | 24,591,178 | |
25,315,862 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. (multi-vtg.) | 123,600 | 6,935,983 | |
Casey's General Stores, Inc. | 28,623 | 10,921,392 | |
Costco Wholesale Corp. | 127,537 | 108,405,175 | |
Walmart, Inc. | 140,700 | 9,526,797 | |
135,789,347 | |||
Food Products - 0.1% | |||
Ajinomoto Co., Inc. | 28,000 | 985,466 | |
Bowery Farming, Inc. (b)(c) | 20,452 | 409 | |
Bowery Farming, Inc. warrants (a)(b)(c) | 7,186 | 144 | |
Mondelez International, Inc. | 65,700 | 4,299,408 | |
5,285,427 | |||
Personal Care Products - 0.1% | |||
AMOREPACIFIC Corp. | 6,989 | 847,268 | |
L'Oreal SA | 23,628 | 10,400,232 | |
11,247,500 | |||
TOTAL CONSUMER STAPLES | 177,638,136 | ||
ENERGY - 1.9% | |||
Energy Equipment & Services - 0.0% | |||
TechnipFMC PLC | 48,400 | 1,265,660 | |
Oil, Gas & Consumable Fuels - 1.9% | |||
Antero Resources Corp. (b) | 16,900 | 551,447 | |
ARC Resources Ltd. | 55,700 | 993,850 | |
Cameco Corp. | 19,900 | 979,108 | |
Cameco Corp. | 221,200 | 10,883,040 | |
Canadian Natural Resources Ltd. | 769,800 | 27,420,309 | |
Cenovus Energy, Inc. (Canada) | 50,100 | 984,751 | |
ConocoPhillips Co. | 133,977 | 15,324,289 | |
Diamondback Energy, Inc. | 59,746 | 11,960,552 | |
Exxon Mobil Corp. | 629,300 | 72,445,016 | |
Marathon Petroleum Corp. | 131,900 | 22,882,012 | |
Phillips 66 Co. | 27,100 | 3,825,707 | |
PrairieSky Royalty Ltd. | 95,300 | 1,811,191 | |
Reliance Industries Ltd. | 29,800 | 1,119,209 | |
Sable Offshore Corp. (a) | 352,000 | 5,304,640 | |
Shell PLC ADR | 93,000 | 6,712,740 | |
Valero Energy Corp. | 108,200 | 16,961,432 | |
200,159,293 | |||
TOTAL ENERGY | 201,424,953 | ||
FINANCIALS - 13.8% | |||
Banks - 2.9% | |||
AIB Group PLC | 664,900 | 3,514,800 | |
Banco Santander SA (Spain) | 1,006,700 | 4,683,947 | |
Bank of America Corp. | 1,552,362 | 61,737,437 | |
Bank of Ireland Group PLC | 225,600 | 2,360,011 | |
Citigroup, Inc. | 253,400 | 16,080,764 | |
East West Bancorp, Inc. | 13,500 | 988,605 | |
First Citizens Bancshares, Inc. | 5,800 | 9,764,938 | |
JPMorgan Chase & Co. | 705,224 | 142,638,606 | |
Nu Holdings Ltd. Class A (b) | 847,400 | 10,922,986 | |
Royal Bank of Canada | 110,300 | 11,743,134 | |
Starling Bank Ltd. Series D (a)(b)(c) | 1,611,012 | 6,251,994 | |
Wells Fargo & Co. | 704,500 | 41,840,255 | |
312,527,477 | |||
Capital Markets - 0.9% | |||
Blackstone, Inc. | 28,500 | 3,528,300 | |
Brookfield Asset Management Ltd.: | |||
Class A | 4,520 | 172,071 | |
Class A | 192,500 | 7,324,625 | |
Brookfield Corp. (Canada) Class A | 34,000 | 1,414,130 | |
Coinbase Global, Inc. (b) | 39,531 | 8,784,974 | |
Goldman Sachs Group, Inc. | 24,900 | 11,262,768 | |
Interactive Brokers Group, Inc. | 17,700 | 2,170,020 | |
KKR & Co. LP | 52,900 | 5,567,196 | |
London Stock Exchange Group PLC | 55,300 | 6,557,385 | |
Moody's Corp. | 13,604 | 5,726,332 | |
Morgan Stanley | 263,100 | 25,570,689 | |
MSCI, Inc. | 7,211 | 3,473,899 | |
Raymond James Financial, Inc. | 1,800 | 222,498 | |
TulCo LLC (a)(b)(c)(f) | 7,549 | 5,335,482 | |
UBS Group AG | 355,110 | 10,454,293 | |
97,564,662 | |||
Consumer Finance - 0.5% | |||
American Express Co. | 188,800 | 43,716,640 | |
Capital One Financial Corp. | 41,300 | 5,717,985 | |
Discover Financial Services | 34,871 | 4,561,476 | |
53,996,101 | |||
Financial Services - 7.4% | |||
Berkshire Hathaway, Inc. Class A (b) | 1,004 | 614,689,964 | |
Block, Inc. Class A (b) | 17,900 | 1,154,371 | |
Fiserv, Inc. (b) | 7,100 | 1,058,184 | |
MasterCard, Inc. Class A | 71,800 | 31,675,288 | |
PayPal Holdings, Inc. (b) | 93,800 | 5,443,214 | |
Toast, Inc. (b) | 40,000 | 1,030,800 | |
Visa, Inc. Class A | 591,400 | 155,224,758 | |
810,276,579 | |||
Insurance - 2.1% | |||
American International Group, Inc. | 449,900 | 33,400,576 | |
Arthur J. Gallagher & Co. | 42,411 | 10,997,596 | |
Chubb Ltd. | 162,868 | 41,544,369 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 32,600 | 37,086,625 | |
Intact Financial Corp. | 132,185 | 22,030,994 | |
Marsh & McLennan Companies, Inc. | 91,700 | 19,323,024 | |
Progressive Corp. | 191,000 | 39,672,610 | |
The Travelers Companies, Inc. | 93,908 | 19,095,253 | |
223,151,047 | |||
TOTAL FINANCIALS | 1,497,515,866 | ||
HEALTH CARE - 12.3% | |||
Biotechnology - 5.3% | |||
Apogee Therapeutics, Inc. | 20,200 | 794,870 | |
Blueprint Medicines Corp. (b) | 3,800 | 409,564 | |
Celldex Therapeutics, Inc. (b) | 60,400 | 2,235,404 | |
Dyne Therapeutics, Inc. (b) | 32,600 | 1,150,454 | |
Galapagos NV sponsored ADR (b) | 35,822 | 887,669 | |
Incyte Corp. (b) | 17,900 | 1,085,098 | |
Insmed, Inc. (b) | 16,900 | 1,132,300 | |
Janux Therapeutics, Inc. (b) | 23,800 | 996,982 | |
Krystal Biotech, Inc. (b) | 800 | 146,912 | |
Moderna, Inc. (b) | 111,100 | 13,193,125 | |
Neurocrine Biosciences, Inc. (b) | 7,500 | 1,032,525 | |
Recursion Pharmaceuticals, Inc. Class A (b)(d) | 141,700 | 1,062,750 | |
Regeneron Pharmaceuticals, Inc. (b) | 262,561 | 275,959,488 | |
Sarepta Therapeutics, Inc. (b) | 3,300 | 521,400 | |
Vaxcyte, Inc. (b) | 53,100 | 4,009,581 | |
Vertex Pharmaceuticals, Inc. (b) | 571,400 | 267,826,608 | |
Viking Therapeutics, Inc. (b) | 16,900 | 895,869 | |
573,340,599 | |||
Health Care Equipment & Supplies - 1.7% | |||
Alcon, Inc. | 97,400 | 8,676,392 | |
Boston Scientific Corp. (b) | 610,700 | 47,030,007 | |
DexCom, Inc. (b) | 39,800 | 4,512,524 | |
EssilorLuxottica SA | 9,503 | 2,047,660 | |
Intuitive Surgical, Inc. (b) | 215,150 | 95,709,478 | |
Straumann Holding AG | 5,653 | 700,294 | |
Stryker Corp. | 55,600 | 18,917,900 | |
The Cooper Companies, Inc. | 30,900 | 2,697,570 | |
180,291,825 | |||
Health Care Providers & Services - 0.2% | |||
Elevance Health, Inc. | 11,700 | 6,339,762 | |
Tenet Healthcare Corp. (b) | 46,502 | 6,186,161 | |
UnitedHealth Group, Inc. | 12,178 | 6,201,768 | |
18,727,691 | |||
Life Sciences Tools & Services - 0.1% | |||
Danaher Corp. | 24,535 | 6,130,070 | |
Mettler-Toledo International, Inc. (b) | 556 | 777,060 | |
Thermo Fisher Scientific, Inc. | 7,260 | 4,014,780 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 65,157 | 3,575,165 | |
14,497,075 | |||
Pharmaceuticals - 5.0% | |||
Eli Lilly & Co. | 396,052 | 358,577,560 | |
Intra-Cellular Therapies, Inc. (b) | 84,805 | 5,808,294 | |
Merck & Co., Inc. | 1,157,700 | 143,323,260 | |
Novo Nordisk A/S Series B | 127,500 | 18,243,321 | |
Royalty Pharma PLC | 270,242 | 7,126,282 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (b) | 752,325 | 12,225,281 | |
UCB SA | 27,300 | 4,055,163 | |
549,359,161 | |||
TOTAL HEALTH CARE | 1,336,216,351 | ||
INDUSTRIALS - 7.8% | |||
Aerospace & Defense - 1.8% | |||
Axon Enterprise, Inc. (b) | 17,900 | 5,266,896 | |
General Dynamics Corp. | 10,700 | 3,104,498 | |
General Electric Co. | 766,937 | 121,919,975 | |
Howmet Aerospace, Inc. | 142,700 | 11,077,801 | |
Loar Holdings, Inc. (d) | 12,700 | 678,307 | |
Lockheed Martin Corp. | 3,200 | 1,494,720 | |
Relativity Space, Inc. warrants (a)(b)(c) | 8,037 | 131,003 | |
Rolls-Royce Holdings PLC (b) | 1,410,400 | 8,100,266 | |
Space Exploration Technologies Corp. (a)(b)(c) | 212,910 | 23,845,920 | |
Space Exploration Technologies Corp. Class C (a)(b)(c) | 7,830 | 876,960 | |
TransDigm Group, Inc. | 17,400 | 22,230,414 | |
198,726,760 | |||
Air Freight & Logistics - 0.0% | |||
Zipline International, Inc. (a)(b)(c) | 28,830 | 1,209,419 | |
Building Products - 0.7% | |||
Carrier Global Corp. | 89,200 | 5,626,736 | |
The AZEK Co., Inc. Class A, (b) | 12,700 | 535,051 | |
Trane Technologies PLC | 209,500 | 68,910,835 | |
75,072,622 | |||
Commercial Services & Supplies - 0.6% | |||
Cintas Corp. | 26,931 | 18,858,702 | |
Clean Harbors, Inc. (b) | 99,575 | 22,518,886 | |
Clean TeQ Water Pty Ltd. (b)(d) | 2,653 | 478 | |
GFL Environmental, Inc. | 199,200 | 7,758,032 | |
RB Global, Inc. | 27,900 | 2,130,444 | |
Republic Services, Inc. | 40,800 | 7,929,072 | |
Veralto Corp. | 74,951 | 7,155,572 | |
Waste Connections, Inc. (United States) | 12,700 | 2,227,072 | |
68,578,258 | |||
Construction & Engineering - 0.0% | |||
Centuri Holdings, Inc. | 44,397 | 864,854 | |
Electrical Equipment - 2.2% | |||
Eaton Corp. PLC | 412,713 | 129,406,161 | |
Fuji Electric Co. Ltd. | 15,900 | 908,535 | |
GE Vernova LLC | 256,834 | 44,049,599 | |
Generac Holdings, Inc. (b) | 21,200 | 2,803,064 | |
Hubbell, Inc. | 139,156 | 50,858,735 | |
Nextracker, Inc. Class A (b) | 29,100 | 1,364,208 | |
nVent Electric PLC | 81,300 | 6,228,393 | |
235,618,695 | |||
Ground Transportation - 0.3% | |||
Canadian Pacific Kansas City Ltd. | 156,300 | 12,309,318 | |
Old Dominion Freight Lines, Inc. | 3,800 | 671,080 | |
Uber Technologies, Inc. (b) | 204,700 | 14,877,596 | |
27,857,994 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 93,200 | 9,524,108 | |
Machinery - 0.7% | |||
Caterpillar, Inc. | 47,400 | 15,788,940 | |
Indutrade AB | 34,800 | 891,752 | |
Ingersoll Rand, Inc. | 52,100 | 4,732,764 | |
Mitsubishi Heavy Industries Ltd. | 235,000 | 2,529,793 | |
PACCAR, Inc. | 347,990 | 35,822,091 | |
Parker Hannifin Corp. | 25,800 | 13,049,898 | |
Westinghouse Air Brake Tech Co. | 18,900 | 2,987,145 | |
75,802,383 | |||
Passenger Airlines - 0.3% | |||
Ryanair Holdings PLC sponsored ADR | 282,500 | 32,894,300 | |
Professional Services - 0.2% | |||
RELX PLC (London Stock Exchange) | 24,779 | 1,135,346 | |
Thomson Reuters Corp. | 53,291 | 8,983,179 | |
UL Solutions, Inc. Class A | 28,700 | 1,210,853 | |
Verisk Analytics, Inc. | 61,100 | 16,469,505 | |
27,798,883 | |||
Trading Companies & Distributors - 0.9% | |||
Fastenal Co. | 12,400 | 779,216 | |
Ferguson PLC | 20,000 | 3,873,000 | |
FTAI Aviation Ltd. | 38,000 | 3,922,740 | |
Itochu Corp. | 70,300 | 3,455,822 | |
Mitsui & Co. Ltd. | 90,400 | 2,061,719 | |
United Rentals, Inc. | 64,300 | 41,584,739 | |
W.W. Grainger, Inc. | 48,419 | 43,685,559 | |
99,362,795 | |||
TOTAL INDUSTRIALS | 853,311,071 | ||
INFORMATION TECHNOLOGY - 28.0% | |||
Communications Equipment - 1.2% | |||
Arista Networks, Inc. (b) | 336,849 | 118,058,838 | |
Motorola Solutions, Inc. | 17,200 | 6,640,060 | |
124,698,898 | |||
Electronic Equipment, Instruments & Components - 1.9% | |||
Amphenol Corp. Class A | 2,976,662 | 200,537,719 | |
Fabrinet (b) | 10,400 | 2,545,816 | |
203,083,535 | |||
IT Services - 0.5% | |||
Accenture PLC Class A | 57,529 | 17,454,874 | |
ASAC II LP (a)(b)(c) | 2,013,117 | 338,204 | |
Cloudflare, Inc. (b) | 20,930 | 1,733,632 | |
Gartner, Inc. (b) | 13,013 | 5,843,618 | |
GoDaddy, Inc. (b) | 8,000 | 1,117,680 | |
Okta, Inc. (b) | 9,700 | 908,017 | |
Shopify, Inc. Class A (b) | 326,268 | 21,561,997 | |
Wix.com Ltd. (b) | 3,635 | 578,219 | |
X Holdings Corp. Class A (a)(b)(c) | 32,510 | 946,041 | |
50,482,282 | |||
Semiconductors & Semiconductor Equipment - 12.9% | |||
Advanced Micro Devices, Inc. (b) | 433,353 | 70,294,190 | |
Advantest Corp. | 78,000 | 3,161,024 | |
Analog Devices, Inc. | 68,500 | 15,635,810 | |
Applied Materials, Inc. | 124,700 | 29,427,953 | |
Arm Holdings Ltd. ADR (d) | 29,110 | 4,762,978 | |
ASML Holding NV (depository receipt) | 14,000 | 14,318,220 | |
Astera Labs, Inc. | 21,000 | 1,270,710 | |
Broadcom, Inc. | 44,400 | 71,285,532 | |
First Solar, Inc. (b) | 4,400 | 992,024 | |
KLA Corp. | 10,100 | 8,327,551 | |
Lam Research Corp. | 9,200 | 9,796,620 | |
Micron Technology, Inc. | 24,500 | 3,222,485 | |
Monolithic Power Systems, Inc. | 41,932 | 34,454,686 | |
NVIDIA Corp. | 8,716,800 | 1,076,873,472 | |
Qualcomm, Inc. | 164,100 | 32,685,438 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 158,700 | 27,583,647 | |
1,404,092,340 | |||
Software - 8.6% | |||
Adobe, Inc. (b) | 8,466 | 4,703,202 | |
ANSYS, Inc. (b) | 6,200 | 1,993,300 | |
Cadence Design Systems, Inc. (b) | 425,162 | 130,843,606 | |
Check Point Software Technologies Ltd. (b) | 25,700 | 4,240,500 | |
Clear Secure, Inc. (d) | 170,318 | 3,186,650 | |
Constellation Software, Inc. | 400 | 1,152,554 | |
CoreWeave, Inc. Class A (c) | 7,760 | 6,040,927 | |
Crowdstrike Holdings, Inc. (b) | 39,300 | 15,059,367 | |
CyberArk Software Ltd. (b) | 8,800 | 2,406,096 | |
Datadog, Inc. Class A (b) | 48,607 | 6,303,842 | |
Fair Isaac Corp. (b) | 200 | 297,732 | |
Figma, Inc. (a)(c) | 84,800 | 1,966,512 | |
HubSpot, Inc. (b) | 4,969 | 2,930,667 | |
Intuit, Inc. | 10,483 | 6,889,532 | |
Magic Leap, Inc.: | |||
Class A (a)(b)(c) | 72,297 | 1 | |
warrants (a)(b)(c) | 39,573 | 0 | |
Microsoft Corp. | 1,380,349 | 616,946,986 | |
Monday.com Ltd. (b) | 5,900 | 1,420,484 | |
Oracle Corp. | 33,500 | 4,730,200 | |
Palo Alto Networks, Inc. (b) | 23,600 | 8,000,636 | |
Roper Technologies, Inc. | 700 | 394,562 | |
Rubrik, Inc. (d) | 27,000 | 827,820 | |
Salesforce, Inc. | 175,294 | 45,068,087 | |
Samsara, Inc. (b) | 139,969 | 4,716,955 | |
ServiceNow, Inc. (b) | 29,500 | 23,206,765 | |
Stripe, Inc. Class B (a)(b)(c) | 26,700 | 694,200 | |
Synopsys, Inc. (b) | 63,930 | 38,042,186 | |
Tanium, Inc. Class B (a)(b)(c) | 408,212 | 3,461,638 | |
Zoom Video Communications, Inc. Class A (b) | 60,200 | 3,563,238 | |
939,088,245 | |||
Technology Hardware, Storage & Peripherals - 2.9% | |||
Apple, Inc. | 1,434,100 | 302,050,142 | |
Dell Technologies, Inc. | 93,619 | 12,910,996 | |
Samsung Electronics Co. Ltd. | 71,700 | 4,234,349 | |
319,195,487 | |||
TOTAL INFORMATION TECHNOLOGY | 3,040,640,787 | ||
MATERIALS - 1.5% | |||
Chemicals - 0.2% | |||
Linde PLC | 13,200 | 5,792,292 | |
Sherwin-Williams Co. | 23,691 | 7,070,105 | |
Westlake Corp. | 99,952 | 14,475,049 | |
27,337,446 | |||
Construction Materials - 0.2% | |||
CRH PLC | 84,300 | 6,320,814 | |
Martin Marietta Materials, Inc. | 7,600 | 4,117,680 | |
Vulcan Materials Co. | 33,200 | 8,256,176 | |
18,694,670 | |||
Containers & Packaging - 0.0% | |||
International Paper Co. | 77,400 | 3,339,810 | |
Metals & Mining - 1.1% | |||
ATI, Inc. (b) | 79,650 | 4,416,593 | |
B2Gold Corp. | 322,433 | 864,975 | |
Franco-Nevada Corp. | 75,217 | 8,917,947 | |
Freeport-McMoRan, Inc. | 631,300 | 30,681,180 | |
Ivanhoe Electric, Inc. (b) | 327,100 | 3,068,198 | |
Ivanhoe Mines Ltd. (b) | 3,572,189 | 46,086,865 | |
Lundin Gold, Inc. | 42,800 | 632,278 | |
Novagold Resources, Inc. (b) | 420,034 | 1,470,679 | |
Nucor Corp. | 23,473 | 3,710,612 | |
Orla Mining Ltd. (b) | 1,620,700 | 6,219,564 | |
Steel Dynamics, Inc. | 86,340 | 11,181,030 | |
117,249,921 | |||
TOTAL MATERIALS | 166,621,847 | ||
UTILITIES - 0.5% | |||
Electric Utilities - 0.4% | |||
Constellation Energy Corp. | 216,348 | 43,328,014 | |
Kansai Electric Power Co., Inc. | 75,000 | 1,259,386 | |
NRG Energy, Inc. | 65,400 | 5,092,044 | |
49,679,444 | |||
Gas Utilities - 0.0% | |||
Southwest Gas Holdings, Inc. | 7,800 | 548,964 | |
Independent Power and Renewable Electricity Producers - 0.1% | |||
Vistra Corp. | 87,100 | 7,488,858 | |
TOTAL UTILITIES | 57,717,266 | ||
TOTAL COMMON STOCKS (Cost $4,132,254,842) | 10,620,896,887 | ||
Convertible Preferred Stocks - 1.1% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 37,932 | 9,169,682 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A (a)(b)(c) | 19,024 | 4,756 | |
Series C (a)(b)(c) | 74,857 | 35,931 | |
Series D (a)(b)(c) | 127,700 | 91,944 | |
132,631 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 800 | 212,328 | |
TOTAL CONSUMER DISCRETIONARY | 344,959 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G (a)(b)(c) | 3,340 | 105,043 | |
Series H (a)(b)(c) | 3,970 | 160,190 | |
265,233 | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd.: | |||
Series E (a)(b)(c) | 61,811 | 1,915,523 | |
Series F (a)(b)(c) | 38,025 | 1,178,395 | |
Tenstorrent Holdings, Inc. Series C1 (a)(c) | 23,737 | 1,653,757 | |
4,747,675 | |||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 194,500 | 595,170 | |
Health Care Providers & Services - 0.0% | |||
Lyra Health, Inc.: | |||
Series E (a)(b)(c) | 79,800 | 1,114,806 | |
Series F (a)(b)(c) | 4,099 | 57,263 | |
Somatus, Inc. Series E (a)(b)(c) | 842 | 875,175 | |
2,047,244 | |||
TOTAL HEALTH CARE | 2,642,414 | ||
INDUSTRIALS - 0.9% | |||
Aerospace & Defense - 0.8% | |||
Relativity Space, Inc.: | |||
Series E (a)(b)(c) | 125,290 | 2,755,127 | |
Series F (a)(c) | 80,375 | 1,763,428 | |
Space Exploration Technologies Corp.: | |||
Series G (a)(b)(c) | 36,460 | 40,835,200 | |
Series H (a)(b)(c) | 7,256 | 8,126,720 | |
Series N (a)(b)(c) | 24,552 | 27,498,240 | |
80,978,715 | |||
Air Freight & Logistics - 0.1% | |||
Zipline International, Inc.: | |||
Series E (a)(b)(c) | 66,084 | 2,772,224 | |
Series F (a)(b)(c) | 129,467 | 5,431,141 | |
Series G (a)(c) | 59,655 | 2,502,527 | |
10,705,892 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c) | 15,787 | 1,979,848 | |
TOTAL INDUSTRIALS | 93,664,455 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Software - 0.1% | |||
Magic Leap, Inc. Series AA (a)(b)(c) | 275,569 | 3 | |
Moloco, Inc. Series A (a)(c) | 35,442 | 1,932,652 | |
Nuro, Inc.: | |||
Series C (a)(b)(c) | 190,290 | 546,132 | |
Series D (a)(b)(c) | 36,736 | 134,821 | |
Stripe, Inc.: | |||
Series H (a)(b)(c) | 11,500 | 299,000 | |
Series I (a)(b)(c) | 128,075 | 3,329,950 | |
6,242,558 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $54,792,709) | 117,076,976 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (a)(c) (Cost $150,652) | 150,652 | 218,698 | |
Money Market Funds - 2.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.38% (h) | 284,517,043 | 284,573,946 | |
Fidelity Securities Lending Cash Central Fund 5.38% (h)(i) | 15,249,563 | 15,251,088 | |
TOTAL MONEY MARKET FUNDS (Cost $299,825,034) | 299,825,034 | ||
TOTAL INVESTMENT IN SECURITIES - 101.5% (Cost $4,487,023,237) | 11,038,017,595 |
NET OTHER ASSETS (LIABILITIES) - (1.5)% | (162,536,853) |
NET ASSETS - 100.0% | 10,875,480,742 |
(a) | 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 $193,972,907 or 1.8% of net assets. |
(b) | Non-income producing |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $313,795 or 0.0% 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) | 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. |
(i) | Investment made with cash collateral received from securities on loan. |
(j) | Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $3,801,199 and all restrictions are set to expire on or before September 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
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. warrants | 10/25/23 | 0 |
ByteDance Ltd. Series E1 | 11/18/20 | 4,156,368 |
Canva, Inc. Class A | 3/18/24 | 7,359,962 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 1,003,200 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 1,602,374 |
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 |
Figma, Inc. | 5/15/24 | 1,966,766 |
GoBrands, Inc. Series G | 3/02/21 | 834,056 |
GoBrands, Inc. Series H | 7/22/21 | 1,542,308 |
Lionsgate Studios Corp. | 12/22/23 | 1,594,612 |
Lyra Health, Inc. Series E | 1/14/21 | 730,697 |
Lyra Health, Inc. Series F | 6/04/21 | 64,372 |
Magic Leap, Inc. Class A | 10/17/14 - 10/06/17 | 35,136,389 |
Magic Leap, Inc. Series AA | 7/07/20 | 4,756,362 |
Magic Leap, Inc. warrants | 7/07/20 | 0 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 150,652 |
Relativity Space, Inc. Series E | 5/27/21 | 2,861,010 |
Relativity Space, Inc. Series F | 11/14/23 | 1,821,860 |
Relativity Space, Inc. warrants | 11/14/23 | 0 |
Sable Offshore Corp. | 1/16/24 | 3,520,000 |
Somatus, Inc. Series E | 1/31/22 | 734,759 |
Space Exploration Technologies Corp. | 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 Holdings, Inc. Series C1 | 4/23/21 | 1,411,288 |
TulCo LLC | 8/24/17 - 12/14/17 | 2,643,700 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 11/13/23 | 2,650,269 |
X Holdings Corp. Class A | 10/25/22 | 3,251,000 |
Zipline International, Inc. | 10/12/21 | 1,037,880 |
Zipline International, Inc. Series E | 12/21/20 | 2,156,281 |
Zipline International, Inc. Series F | 4/11/23 | 5,204,198 |
Zipline International, Inc. Series G | 6/07/24 | 2,502,307 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.38% | 252,115,689 | 1,220,523,422 | 1,188,064,497 | 6,417,545 | (668) | - | 284,573,946 | 0.5% |
Fidelity Securities Lending Cash Central Fund 5.38% | 29,369,645 | 86,920,392 | 101,038,949 | 37,628 | - | - | 15,251,088 | 0.1% |
Total | 281,485,334 | 1,307,443,814 | 1,289,103,446 | 6,455,173 | (668) | - | 299,825,034 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,156,996,432 | 2,104,633,626 | 38,933,124 | 13,429,682 |
Consumer Discretionary | 1,142,328,819 | 1,110,992,168 | 13,846,421 | 17,490,230 |
Consumer Staples | 177,903,369 | 166,251,885 | 11,385,698 | 265,786 |
Energy | 201,424,953 | 201,424,953 | - | - |
Financials | 1,502,263,541 | 1,474,687,058 | 11,241,332 | 16,335,151 |
Health Care | 1,338,858,765 | 1,314,397,865 | 18,243,321 | 6,217,579 |
Industrials | 946,975,526 | 809,056,288 | 18,191,481 | 119,727,757 |
Information Technology | 3,046,883,345 | 3,024,032,240 | 3,161,024 | 19,690,081 |
Materials | 166,621,847 | 166,621,847 | - | - |
Utilities | 57,717,266 | 56,457,880 | 1,259,386 | - |
Preferred Securities | 218,698 | - | - | 218,698 |
Money Market Funds | 299,825,034 | 299,825,034 | - | - |
Total Investments in Securities: | 11,038,017,595 | 10,728,380,844 | 116,261,787 | 193,374,964 |
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 102,933,952 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 14,291,498 | ||
Cost of Purchases | 2,502,307 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 119,727,757 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 14,291,498 | |
Other Investments in Securities | |||
Beginning Balance | $ | 66,089,885 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 2,263,968 | ||
Cost of Purchases | 9,372,646 | ||
Proceeds of Sales | (2,095,695) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (1,983,597) | ||
Ending Balance | $ | 73,647,207 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at June 30, 2024 | $ | 1,248,720 | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
June 30, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $14,812,591) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $4,187,198,203) | $ | 10,738,192,561 | ||
Fidelity Central Funds (cost $299,825,034) | 299,825,034 | |||
Total Investment in Securities (cost $4,487,023,237) | $ | 11,038,017,595 | ||
Foreign currency held at value (cost $27,971) | 28,160 | |||
Receivable for investments sold | 84,112,407 | |||
Receivable for fund shares sold | 104,247 | |||
Dividends receivable | 2,928,396 | |||
Distributions receivable from Fidelity Central Funds | 818,404 | |||
Total assets | 11,126,009,209 | |||
Liabilities | ||||
Payable to custodian bank | $ | 9,026 | ||
Payable for investments purchased | 608,212 | |||
Payable for fund shares redeemed | 234,542,935 | |||
Other payables and accrued expenses | 120,184 | |||
Collateral on securities loaned | 15,248,110 | |||
Total liabilities | 250,528,467 | |||
Commitments and contingent liabilities (see Commitments note) | ||||
Net Assets | $ | 10,875,480,742 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 3,910,901,518 | ||
Total accumulated earnings (loss) | 6,964,579,224 | |||
Net Assets | $ | 10,875,480,742 | ||
Net Asset Value, offering price and redemption price per share ($10,875,480,742 ÷ 455,282,492 shares) | $ | 23.89 |
Consolidated Statement of Operations | ||||
Six months ended June 30, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 32,973,233 | ||
Income from Fidelity Central Funds (including $37,628 from security lending) | 6,455,173 | |||
Total income | 39,428,406 | |||
Expenses | ||||
Custodian fees and expenses | $ | 73,266 | ||
Independent trustees' fees and expenses | 21,678 | |||
Miscellaneous | 54 | |||
Total expenses before reductions | 94,998 | |||
Expense reductions | (1,755) | |||
Total expenses after reductions | 93,243 | |||
Net Investment income (loss) | 39,335,163 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $78,546) | 431,885,769 | |||
Fidelity Central Funds | (668) | |||
Foreign currency transactions | (68,627) | |||
Total net realized gain (loss) | 431,816,474 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $50,450) | 1,955,200,268 | |||
Unfunded commitments | 102,665 | |||
Assets and liabilities in foreign currencies | (17,957) | |||
Total change in net unrealized appreciation (depreciation) | 1,955,284,976 | |||
Net gain (loss) | 2,387,101,450 | |||
Net increase (decrease) in net assets resulting from operations | $ | 2,426,436,613 |
Consolidated Statement of Changes in Net Assets | ||||
Six months ended June 30, 2024 (Unaudited) | Year ended December 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 39,335,163 | $ | 102,703,707 |
Net realized gain (loss) | 431,816,474 | (9,905,289) | ||
Change in net unrealized appreciation (depreciation) | 1,955,284,976 | 2,422,989,554 | ||
Net increase (decrease) in net assets resulting from operations | 2,426,436,613 | 2,515,787,972 | ||
Distributions to shareholders | - | (95,371,154) | ||
Share transactions | ||||
Proceeds from sales of shares | 655,925,204 | 874,791,955 | ||
Reinvestment of distributions | - | 95,371,154 | ||
Cost of shares redeemed | (1,592,140,294) | (2,073,553,948) | ||
Net increase (decrease) in net assets resulting from share transactions | (936,215,090) | (1,103,390,839) | ||
Total increase (decrease) in net assets | 1,490,221,523 | 1,317,025,979 | ||
Net Assets | ||||
Beginning of period | 9,385,259,219 | 8,068,233,240 | ||
End of period | $ | 10,875,480,742 | $ | 9,385,259,219 |
Other Information | ||||
Shares | ||||
Sold | 31,261,023 | 53,382,549 | ||
Issued in reinvestment of distributions | - | 5,254,609 | ||
Redeemed | (73,708,362) | (124,634,354) | ||
Net increase (decrease) | (42,447,339) | (65,997,196) | ||
Fidelity® Series Opportunistic Insights Fund |
Six months ended (Unaudited) June 30, 2024 | Years ended December 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 18.86 | $ | 14.31 | $ | 20.74 | $ | 20.25 | $ | 18.10 | $ | 15.18 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .08 | .19 | .20 | .14 | .12 | .15 | ||||||
Net realized and unrealized gain (loss) | 4.95 | 4.55 | (5.44) | 4.79 | 5.36 | 4.43 | ||||||
Total from investment operations | 5.03 | 4.74 | (5.24) | 4.93 | 5.48 | 4.58 | ||||||
Distributions from net investment income | - | (.19) | (.18) | (.20) | (.16) | (.15) | ||||||
Distributions from net realized gain | - | - | (1.00) | (4.24) | (3.18) | (1.51) | ||||||
Total distributions | - | (.19) | (1.19) C | (4.44) | (3.33) C | (1.66) | ||||||
Net asset value, end of period | $ | 23.89 | $ | 18.86 | $ | 14.31 | $ | 20.74 | $ | 20.25 | $ | 18.10 |
Total Return D,E | 26.67 % | 33.20% | (25.73)% | 24.81% | 31.18% | 30.53% | ||||||
Ratios to Average Net Assets A,F,G | ||||||||||||
Expenses before reductions H | -% I,J | -% | -% | -% | -% | -% | ||||||
Expenses net of fee waivers, if any H | - % I,J | -% | -% | -% | -% | -% | ||||||
Expenses net of all reductions H | -% I,J | -% | -% | -% | -% | -% | ||||||
Net investment income (loss) | .75% I,J | 1.17% | 1.23% | .61% | .61% | .81% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 10,875,481 | $ | 9,385,259 | $ | 8,068,233 | $ | 8,020,606 | $ | 7,673,290 | $ | 6,899,733 |
Portfolio turnover rate K | 19 % J | 29% | 36% | 43% | 33% | 27% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $193,156,266 | Recovery value | Recovery value | $0.00 - $0.17 / $0.08 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 0.9 - 55.7 / 14.7 | Increase | ||
Enterprise value/EBITDA multiple (EV/EBITDA) | 19.5 - 22.0 / 21.1 | Increase | |||
Enterprise value/Net income multiple (EV/NI) | 15.5 | Increase | |||
Discounted cash flow | Weighted average cost of capital (WACC) | 29.5% | Decrease | ||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.3% - 5.1% / 4.4% | Increase | ||
Volatility | 60.0% - 100.0% / 78.3% | Increase | |||
Term | 1.0 - 5.0 / 4.0 | Increase | |||
Preferred Securities | $218,698 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.6 | Increase | ||
Black scholes | Discount rate | 4.7% | Increase | ||
Volatility | 60.0% | Increase | |||
Term | 2.1 | Increase |
Gross unrealized appreciation | $6,606,154,437 |
Gross unrealized depreciation | (82,150,202) |
Net unrealized appreciation (depreciation) | $6,524,004,235 |
Tax cost | $4,514,013,360 |
Short-term | $(25,037,847) |
Long-term | - |
Total capital loss carryforward | $(25,037,847) |
Investment to be Acquired | Commitment Amount ($) | Unrealized Appreciation (Depreciation)($) | |
Fidelity Series Opportunistic Insights Fund | Space Exploration Technologies Corp. | 963,200 | - |
Amount ($) | % of Net Assets | |
Fidelity Series Opportunistic Insights Fund | 8,910,647 | .08 |
Purchases ($) | Sales ($) | |
Fidelity Series Opportunistic Insights Fund | 965,725,162 | 1,759,086,529 |
Amount ($) | |
Fidelity Series Opportunistic Insights Fund | 17,158 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Series Opportunistic Insights Fund | 37,129,831 | 95,282,922 | 29,099,443 |
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 | 3,886 | - | - |
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Item 8.
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
See Item 7.
Item 9.
Proxy Disclosures for Open-End Management Investment Companies
See Item 7.
Item 10.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
See Item 7.
Item 11.
Statement Regarding Basis for Approval of Investment Advisory Contract
See Item 7.
Item 12.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14.
Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15.
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 16.
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 17.
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
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 (Principal Executive Officer) | |
Date: | August 22, 2024 |
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 (Principal Executive Officer) | |
Date: | August 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer (Principal Financial Officer) | |
Date: | August 22, 2024 |