Quarterly Holdings Report
for
Fidelity® Disciplined Equity Fund
July 31, 2021
FDE-QTLY-0921
1.804820.117
Schedule of Investments July 31, 2021 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 100.0% | |||
Shares | Value (000s) | ||
COMMUNICATION SERVICES - 11.7% | |||
Entertainment - 3.1% | |||
Activision Blizzard, Inc. | 133,974 | $11,203 | |
Electronic Arts, Inc. | 37,955 | 5,464 | |
Live Nation Entertainment, Inc. (a) | 33,800 | 2,666 | |
Netflix, Inc. (a) | 38,900 | 20,133 | |
The Walt Disney Co. (a) | 150,665 | 26,520 | |
65,986 | |||
Interactive Media & Services - 8.6% | |||
Alphabet, Inc.: | |||
Class A (a) | 28,088 | 75,684 | |
Class C (a) | 13,366 | 36,147 | |
Facebook, Inc. Class A (a) | 178,928 | 63,752 | |
Match Group, Inc. (a) | 36,446 | 5,805 | |
181,388 | |||
TOTAL COMMUNICATION SERVICES | 247,374 | ||
CONSUMER DISCRETIONARY - 15.0% | |||
Distributors - 0.5% | |||
LKQ Corp. (a) | 39,700 | 2,015 | |
Pool Corp. | 15,700 | 7,502 | |
9,517 | |||
Diversified Consumer Services - 0.3% | |||
Service Corp. International | 91,900 | 5,743 | |
Hotels, Restaurants & Leisure - 2.9% | |||
Booking Holdings, Inc. (a) | 5,411 | 11,787 | |
Domino's Pizza, Inc. | 18,500 | 9,722 | |
Hilton Worldwide Holdings, Inc. (a) | 79,066 | 10,393 | |
Marriott International, Inc. Class A (a) | 58,800 | 8,584 | |
Planet Fitness, Inc. (a) | 104,100 | 7,831 | |
Starbucks Corp. | 102,500 | 12,447 | |
60,764 | |||
Household Durables - 1.3% | |||
D.R. Horton, Inc. | 31,600 | 3,016 | |
Lennar Corp. Class A | 81,900 | 8,612 | |
Mohawk Industries, Inc. (a) | 8,800 | 1,715 | |
NVR, Inc. (a) | 2,455 | 12,821 | |
Whirlpool Corp. | 8,500 | 1,883 | |
28,047 | |||
Internet & Direct Marketing Retail - 4.5% | |||
Amazon.com, Inc. (a) | 28,458 | 94,697 | |
Wayfair LLC Class A (a) | 5,900 | 1,424 | |
96,121 | |||
Multiline Retail - 0.5% | |||
Dollar General Corp. | 44,100 | 10,259 | |
Specialty Retail - 3.4% | |||
Bath & Body Works, Inc. | 78,000 | 6,245 | |
Best Buy Co., Inc. | 70,184 | 7,885 | |
Floor & Decor Holdings, Inc. Class A (a) | 94,052 | 11,475 | |
Ross Stores, Inc. | 64,500 | 7,914 | |
The Home Depot, Inc. | 87,111 | 28,589 | |
TJX Companies, Inc. | 149,200 | 10,266 | |
72,374 | |||
Textiles, Apparel & Luxury Goods - 1.6% | |||
lululemon athletica, Inc. (a) | 14,200 | 5,682 | |
NIKE, Inc. Class B | 154,910 | 25,949 | |
Tapestry, Inc. (a) | 69,000 | 2,919 | |
34,550 | |||
TOTAL CONSUMER DISCRETIONARY | 317,375 | ||
CONSUMER STAPLES - 2.2% | |||
Beverages - 0.4% | |||
Monster Beverage Corp. (a) | 79,100 | 7,461 | |
Food & Staples Retailing - 0.9% | |||
Costco Wholesale Corp. | 44,900 | 19,294 | |
Personal Products - 0.9% | |||
Estee Lauder Companies, Inc. Class A | 58,314 | 19,467 | |
TOTAL CONSUMER STAPLES | 46,222 | ||
ENERGY - 0.8% | |||
Oil, Gas & Consumable Fuels - 0.8% | |||
Devon Energy Corp. | 358,400 | 9,261 | |
EOG Resources, Inc. | 94,400 | 6,878 | |
16,139 | |||
FINANCIALS - 8.5% | |||
Banks - 4.4% | |||
Bank of America Corp. | 750,305 | 28,782 | |
Comerica, Inc. | 80,200 | 5,507 | |
Cullen/Frost Bankers, Inc. | 51,300 | 5,506 | |
JPMorgan Chase & Co. | 249,459 | 37,863 | |
M&T Bank Corp. | 79,563 | 10,650 | |
Regions Financial Corp. | 253,000 | 4,870 | |
93,178 | |||
Capital Markets - 3.4% | |||
CME Group, Inc. | 39,853 | 8,454 | |
Moody's Corp. | 58,170 | 21,872 | |
MSCI, Inc. | 39,791 | 23,714 | |
S&P Global, Inc. | 40,000 | 17,149 | |
71,189 | |||
Insurance - 0.7% | |||
Allstate Corp. | 25,700 | 3,342 | |
American Financial Group, Inc. | 9,300 | 1,176 | |
Arthur J. Gallagher & Co. | 56,800 | 7,913 | |
Cincinnati Financial Corp. | 16,600 | 1,957 | |
14,388 | |||
TOTAL FINANCIALS | 178,755 | ||
HEALTH CARE - 13.7% | |||
Biotechnology - 0.5% | |||
Horizon Therapeutics PLC (a) | 106,784 | 10,681 | |
Health Care Equipment & Supplies - 6.3% | |||
Boston Scientific Corp. (a) | 200,529 | 9,144 | |
Danaher Corp. | 104,938 | 31,218 | |
DexCom, Inc. (a) | 28,848 | 14,871 | |
Hologic, Inc. (a) | 47,300 | 3,549 | |
IDEXX Laboratories, Inc. (a) | 21,293 | 14,448 | |
Intuitive Surgical, Inc. (a) | 14,438 | 14,315 | |
Masimo Corp. (a) | 40,084 | 10,918 | |
ResMed, Inc. | 16,220 | 4,409 | |
Stryker Corp. | 68,448 | 18,545 | |
West Pharmaceutical Services, Inc. | 28,036 | 11,543 | |
132,960 | |||
Health Care Providers & Services - 3.2% | |||
Anthem, Inc. | 26,800 | 10,291 | |
Cigna Corp. | 27,715�� | 6,360 | |
Guardant Health, Inc. (a) | 6,200 | 681 | |
HCA Holdings, Inc. | 20,500 | 5,088 | |
Laboratory Corp. of America Holdings (a) | 9,700 | 2,873 | |
UnitedHealth Group, Inc. | 103,457 | 42,647 | |
67,940 | |||
Health Care Technology - 0.4% | |||
Veeva Systems, Inc. Class A (a) | 27,985 | 9,311 | |
Life Sciences Tools & Services - 2.6% | |||
Avantor, Inc. (a) | 190,973 | 7,177 | |
Bio-Rad Laboratories, Inc. Class A (a) | 12,054 | 8,914 | |
Bruker Corp. | 89,000 | 7,320 | |
Mettler-Toledo International, Inc. (a) | 5,064 | 7,463 | |
Thermo Fisher Scientific, Inc. | 43,187 | 23,321 | |
54,195 | |||
Pharmaceuticals - 0.7% | |||
Zoetis, Inc. Class A | 69,544 | 14,097 | |
TOTAL HEALTH CARE | 289,184 | ||
INDUSTRIALS - 11.2% | |||
Aerospace & Defense - 2.4% | |||
HEICO Corp. Class A | 90,347 | 10,958 | |
Huntington Ingalls Industries, Inc. | 14,100 | 2,892 | |
L3Harris Technologies, Inc. | 39,800 | 9,024 | |
Lockheed Martin Corp. | 25,537 | 9,491 | |
Northrop Grumman Corp. | 23,100 | 8,386 | |
Teledyne Technologies, Inc. (a) | 19,897 | 9,009 | |
49,760 | |||
Building Products - 0.9% | |||
A.O. Smith Corp. | 66,200 | 4,656 | |
Allegion PLC | 14,300 | 1,953 | |
Armstrong World Industries, Inc. | 19,900 | 2,153 | |
Fortune Brands Home & Security, Inc. | 104,900 | 10,225 | |
18,987 | |||
Commercial Services & Supplies - 1.5% | |||
Cintas Corp. | 44,483 | 17,534 | |
Copart, Inc. (a) | 94,288 | 13,860 | |
31,394 | |||
Electrical Equipment - 1.6% | |||
AMETEK, Inc. | 90,938 | 12,645 | |
Generac Holdings, Inc. (a) | 49,906 | 20,929 | |
33,574 | |||
Industrial Conglomerates - 0.6% | |||
Roper Technologies, Inc. | 26,775 | 13,156 | |
Machinery - 2.2% | |||
Dover Corp. | 77,810 | 13,004 | |
Fortive Corp. | 106,100 | 7,709 | |
IDEX Corp. | 46,600 | 10,564 | |
ITT, Inc. | 154,139 | 15,092 | |
46,369 | |||
Professional Services - 0.8% | |||
CACI International, Inc. Class A (a) | 29,200 | 7,795 | |
CoStar Group, Inc. (a) | 41,000 | 3,643 | |
IHS Markit Ltd. | 40,100 | 4,685 | |
TriNet Group, Inc. (a) | 23,000 | 1,909 | |
18,032 | |||
Road & Rail - 1.2% | |||
Norfolk Southern Corp. | 43,103 | 11,113 | |
Old Dominion Freight Lines, Inc. | 23,550 | 6,338 | |
Uber Technologies, Inc. (a) | 178,513 | 7,758 | |
25,209 | |||
TOTAL INDUSTRIALS | 236,481 | ||
INFORMATION TECHNOLOGY - 33.3% | |||
Electronic Equipment & Components - 1.7% | |||
Amphenol Corp. Class A | 118,540 | 8,593 | |
CDW Corp. | 33,873 | 6,211 | |
Keysight Technologies, Inc. (a) | 40,002 | 6,582 | |
Zebra Technologies Corp. Class A (a) | 26,541 | 14,663 | |
36,049 | |||
IT Services - 8.3% | |||
Accenture PLC Class A | 81,693 | 25,952 | |
EPAM Systems, Inc. (a) | 18,100 | 10,132 | |
Global Payments, Inc. | 74,172 | 14,346 | |
MasterCard, Inc. Class A | 88,362 | 34,102 | |
PayPal Holdings, Inc. (a) | 93,960 | 25,889 | |
Square, Inc. (a) | 52,592 | 13,004 | |
VeriSign, Inc. (a) | 22,658 | 4,903 | |
Visa, Inc. Class A | 192,688 | 47,476 | |
175,804 | |||
Semiconductors & Semiconductor Equipment - 3.5% | |||
Advanced Micro Devices, Inc. (a) | 31,000 | 3,292 | |
Lam Research Corp. | 38,085 | 24,276 | |
NVIDIA Corp. | 227,332 | 44,327 | |
Universal Display Corp. | 10,599 | 2,485 | |
74,380 | |||
Software - 15.3% | |||
Adobe, Inc. (a) | 46,059 | 28,632 | |
ANSYS, Inc. (a) | 25,400 | 9,359 | |
Aspen Technology, Inc. (a) | 12,400 | 1,814 | |
Atlassian Corp. PLC (a) | 11,741 | 3,817 | |
Autodesk, Inc. (a) | 36,738 | 11,798 | |
Cadence Design Systems, Inc. (a) | 57,847 | 8,541 | |
Ceridian HCM Holding, Inc. (a) | 50,115 | 4,931 | |
Coupa Software, Inc. (a) | 12,120 | 2,630 | |
Datadog, Inc. Class A (a) | 3,218 | 356 | |
Dynatrace, Inc. (a) | 73,203 | 4,675 | |
Fair Isaac Corp. (a) | 15,156 | 7,940 | |
Fortinet, Inc. (a) | 46,452 | 12,646 | |
HubSpot, Inc. (a) | 7,362 | 4,388 | |
Intuit, Inc. | 51,045 | 27,052 | |
Manhattan Associates, Inc. (a) | 4,628 | 739 | |
Microsoft Corp. | 519,795 | 148,098 | |
Paycom Software, Inc. (a) | 13,396 | 5,358 | |
Salesforce.com, Inc. (a) | 92,961 | 22,490 | |
ServiceNow, Inc. (a) | 17,052 | 10,025 | |
Synopsys, Inc. (a) | 27,200 | 7,833 | |
323,122 | |||
Technology Hardware, Storage & Peripherals - 4.5% | |||
Apple, Inc. | 653,825 | 95,367 | |
TOTAL INFORMATION TECHNOLOGY | 704,722 | ||
MATERIALS - 1.4% | |||
Chemicals - 1.2% | |||
Air Products & Chemicals, Inc. | 28,200 | 8,207 | |
DuPont de Nemours, Inc. | 44,900 | 3,370 | |
Sherwin-Williams Co. | 48,700 | 14,173 | |
25,750 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 7,400 | 1,046 | |
Martin Marietta Materials, Inc. | 8,600 | 3,124 | |
4,170 | |||
TOTAL MATERIALS | 29,920 | ||
REAL ESTATE - 1.6% | |||
Equity Real Estate Investment Trusts (REITs) - 0.9% | |||
American Tower Corp. | 49,000 | 13,857 | |
SBA Communications Corp. Class A | 18,200 | 6,206 | |
20,063 | |||
Real Estate Management & Development - 0.7% | |||
CBRE Group, Inc. (a) | 136,600 | 13,176 | |
Jones Lang LaSalle, Inc. (a) | 5,900 | 1,313 | |
14,489 | |||
TOTAL REAL ESTATE | 34,552 | ||
UTILITIES - 0.6% | |||
Electric Utilities - 0.6% | |||
NextEra Energy, Inc. | 158,400 | 12,339 | |
TOTAL COMMON STOCKS | |||
(Cost $1,126,498) | 2,113,063 | ||
Money Market Funds - 0.1% | |||
Fidelity Cash Central Fund 0.06% (b) | |||
(Cost $1,989) | 1,988,205 | 1,989 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% | |||
(Cost $1,128,487) | 2,115,052 | ||
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (1,399) | ||
NET ASSETS - 100% | $2,113,653 |
Legend
(a) Non-income producing
(b) 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.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
(Amounts in thousands) | |
Fidelity Cash Central Fund | $2 |
Fidelity Securities Lending Cash Central Fund | 1 |
Total | $3 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Fund (Amounts in thousands) | Value, beginning of period | Purchases | Sales Proceeds | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
Fidelity Cash Central Fund 0.06% | $2,355 | $139,349 | $139,715 | $-- | $-- | $1,989 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.06% | -- | 19,030 | 19,030 | -- | -- | -- | 0.0% |
Total | $2,355 | $158,379 | $158,745 | $-- | $-- | $1,989 |
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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