Fidelity Puritan Fund NCSR Certified annual shareholder report (management investment company)

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This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.

A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.

For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Performance: The Bottom Line

Average annual total return reflects the change in the value of an investment, assuming reinvestment of distributions from dividend income and capital gains (the profits earned upon the sale of securities that have grown in value, if any) and assuming a constant rate of performance each year. The hypothetical investment and the average annual total returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. During periods of reimbursement by Fidelity, a fund's total return will be greater than it would be had the reimbursement not occurred. How a fund did yesterday is no guarantee of how it will do tomorrow.

Average Annual Total Returns

Periods ended August 31, 2023	Past 1 year	Past 5 years	Past 10 years
Fidelity® Puritan® Fund	12.00%	7.82%	9.34%
Class K	12.10%	7.90%	9.43%

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity® Puritan® Fund, a class of the fund, on August 31, 2013.

The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.

Management's Discussion of Fund Performance

Market Recap:

U.S. equities gained 15.94% for the 12 months ending August 31, 2023, according to the S&P 500® index, as continued global economic expansion, falling commodity prices and a slowing in the pace of inflation provided a favorable backdrop for higher-risk assets. Large-cap stocks spearheaded the rally, which was driven by the shares of a narrow set of mega-cap companies in the information technology and communication services sectors, largely due to exuberance related to generative artificial intelligence. Aggressive monetary tightening by the U.S. Federal Reserve continued amid consistent pressure on core inflation, a measure that excludes food and energy. Since March 2022, the Fed has hiked its benchmark interest rate 11 times. The latest bump came in late July, a fourth consecutive raise of a stepped-down 25 basis points. The S&P 500® gained 3.21% in July but snapped a five-month rally in August (-1.59%), held back by softness in manufacturing and jobs. Still, U.S. stocks ended August up 18.73% year to date. In fixed income, the Bloomberg U.S. Aggregate Bond Index returned -1.19%, as taxable investment-grade bonds showed year-to-date improvement after returning -13.01% in 2022. For the full 12 months, short-term bonds outpaced long-term issues, while lower-quality (higher yielding) bonds topped higher-quality debt. Higher-risk assets, including corporate bonds and asset-backed securities, fared better than U.S. Treasuries.

Comments from Portfolio Manager Daniel Kelley:

For the fiscal year, the fund's share classes gained roughly 12%, outperforming the 9.04% advance of the Fidelity Puritan Composite IndexSM - a 60/40 blend of the S&P 500® and the Bloomberg U.S. Aggregate Bond Index. Security selection in the equities subportfolio contributed to the fund's outperformance of the Composite index the past 12 months. Investment choices and an underweight among investment-grade bonds also helped the fund's relative result. Among stocks, my picks in the industrials sector gave the biggest boost by far. The top individual contributor was an overweight in semiconductor company Nvidia (+247%). I notably increased exposure to Nvidia the past 12 months, making it the fund's No. 2 holding as of August 31. Elsewhere, a non-Composite stake in ride-share company Uber Technologies (+64%) and an overweight in Facebook parent Meta Platforms (+81%) boosted the fund's result versus the Composite. I added to Meta this period, a large holding at the end of August. In fixed income, the fund benefited from an overweight in lower-rated corporate bonds. Conversely, stock selection and an underweight in the information technology sector detracted from relative performance for the 12 months. Positioning in the materials sector also hurt. An underweight in consumer electronics leader Apple (+20%) was the largest individual relative detractor, followed by an underweight in e-commerce giant Amazon.com (+9%).

The views expressed above reflect those of the portfolio manager(s) only through the end of the period as stated on the cover of this report and do not necessarily represent the views of Fidelity or any other person in the Fidelity organization. Any such views are subject to change at any time based upon market or other conditions and Fidelity disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for a Fidelity fund are based on numerous factors, may not be relied on as an indication of trading intent on behalf of any Fidelity fund.

Consolidated Investment Summary August 31, 2023 (Unaudited)

The information in the following tables is based on the combined Investments of the Fund and its pro-rata share of investments in Fidelity's Central Funds, other than the Money Market Central Funds.

Top Holdings (% of Fund's net assets)

Microsoft Corp.	5.8
NVIDIA Corp.	3.7
Alphabet, Inc. Class C	3.4
Amazon.com, Inc.	2.2
Meta Platforms, Inc. Class A	2.2
Eaton Corp. PLC	1.9
Apple, Inc.	1.8
MasterCard, Inc. Class A	1.7
Eli Lilly & Co.	1.4
The Boeing Co.	1.4
	25.5

Top Bond Issuers (% of Fund's net assets)
(with maturities greater than one year)
U.S. Treasury Obligations	11.5
Fannie Mae	2.2
Freddie Mac	1.9
Ginnie Mae	1.2
Uniform Mortgage Backed Securities	1.0
JPMorgan Chase & Co.	0.7
Morgan Stanley	0.4
Bank of America Corp.	0.4
Citigroup, Inc.	0.3
Ally Financial, Inc.	0.2
	19.8

Market Sectors (% of Fund's net assets)

Information Technology	20.5
Financials	11.3
Industrials	10.0
Health Care	8.5
Communication Services	8.4
Consumer Discretionary	7.6
Energy	4.6
Materials	2.5
Consumer Staples	2.2
Real Estate	0.9
Utilities	0.6

Asset Allocation (% of Fund's net assets)

Futures and Swaps - 0.7%

An unaudited holdings listing for the fund, which presents direct holdings as well as the pro-rata share of any securities and other investments held indirectly through its investment in underlying Fidelity Central Funds, other than the Money Market Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable.

Consolidated Schedule of Investments August 31, 2023

Showing Percentage of Net Assets

Common Stocks - 63.8%
	Shares	Value ($) (000s)
COMMUNICATION SERVICES - 6.9%
Entertainment - 0.8%
Electronic Arts, Inc.	77,767	9,330
LiveOne, Inc. (a)(b)(c)	6,716,730	14,374
Netflix, Inc. (a)	408,485	177,152
Spotify Technology SA (a)	54,582	8,404
Universal Music Group NV	704,536	17,468
		226,728
Interactive Media & Services - 5.6%
Alphabet, Inc. Class C (a)	6,896,198	947,193
Meta Platforms, Inc. Class A (a)	2,006,396	593,673
		1,540,866
Media - 0.5%
Comcast Corp. Class A	2,989,582	139,793
Vice Holding, Inc. (a)(d)	1,498,461	0
		139,793
TOTAL COMMUNICATION SERVICES		1,907,387
CONSUMER DISCRETIONARY - 6.7%
Automobile Components - 0.1%
Aptiv PLC (a)	168,566	17,101
Automobiles - 0.0%
Li Auto, Inc. ADR (a)	89,482	3,727
Neutron Holdings, Inc. (a)(d)(e)	4,168,198	120
		3,847
Broadline Retail - 2.3%
Amazon.com, Inc. (a)	4,383,213	604,927
Global-e Online Ltd. (a)(b)	741,350	29,380
		634,307
Hotels, Restaurants & Leisure - 1.7%
Airbnb, Inc. Class A (a)	650,425	85,563
Caesars Entertainment, Inc. (a)	656,130	36,258
Compass Group PLC	1,097,683	27,680
Domino's Pizza, Inc.	139,122	53,896
Flutter Entertainment PLC (a)	207,435	37,866
Hilton Worldwide Holdings, Inc.	743,661	110,545
Marriott International, Inc. Class A	294,472	59,928
McDonald's Corp.	201,848	56,750
		468,486
Household Durables - 0.1%
Blu Investments LLC (a)(d)(e)	14,988,638	5
Chervon Holdings Ltd.	1,418,113	4,683
D.R. Horton, Inc.	245,619	29,234
		33,922
Specialty Retail - 1.7%
Lowe's Companies, Inc.	747,175	172,209
Revolve Group, Inc. (a)	216,646	3,174
RH (a)	75,687	27,640
TJX Companies, Inc.	2,787,226	257,763
		460,786
Textiles, Apparel & Luxury Goods - 0.8%
Brunello Cucinelli SpA	1,210,391	100,274
LVMH Moet Hennessy Louis Vuitton SE	43,663	36,924
Moncler SpA	103,050	7,000
NIKE, Inc. Class B	34,146	3,473
On Holding AG (a)	53,478	1,542
Ralph Lauren Corp.	270,199	31,513
Tapestry, Inc.	327,872	10,925
Tory Burch LLC:
Class A (a)(d)(e)(f)	702,741	22,722
Class B (a)(d)(e)(f)	324,840	11,363
		225,736
TOTAL CONSUMER DISCRETIONARY		1,844,185
CONSUMER STAPLES - 1.5%
Beverages - 0.7%
Boston Beer Co., Inc. Class A (a)	59,122	21,605
Monster Beverage Corp.	2,979,795	171,070
		192,675
Consumer Staples Distribution & Retail - 0.0%
Performance Food Group Co. (a)	86,782	5,392
Household Products - 0.3%
The Clorox Co.	513,636	80,358
Personal Care Products - 0.2%
Estee Lauder Companies, Inc. Class A	163,800	26,295
Kenvue, Inc.	1,346,877	31,046
L'Oreal SA (a)	10,418	4,584
		61,925
Tobacco - 0.3%
Philip Morris International, Inc.	858,800	82,496
TOTAL CONSUMER STAPLES		422,846
ENERGY - 3.0%
Energy Equipment & Services - 1.7%
Baker Hughes Co. Class A	4,136,759	149,709
NOV, Inc.	3,766,084	79,577
Schlumberger Ltd.	3,024,433	178,321
TechnipFMC PLC	3,707,313	70,587
Weatherford International PLC (a)	49,890	4,416
		482,610
Oil, Gas & Consumable Fuels - 1.3%
Antero Resources Corp. (a)	621,246	17,190
Exxon Mobil Corp.	1,199,737	133,399
Hess Corp.	939,233	145,111
Range Resources Corp.	1,644,870	53,261
		348,961
TOTAL ENERGY		831,571
FINANCIALS - 6.8%
Banks - 0.5%
JPMorgan Chase & Co.	619,643	90,672
Starling Bank Ltd. Series D (a)(d)(e)	7,254,400	29,775
		120,447
Capital Markets - 2.3%
Ares Management Corp.	960,205	99,324
BlackRock, Inc. Class A	127,345	89,210
Cboe Global Markets, Inc.	249,423	37,341
CME Group, Inc.	233,856	47,398
Deutsche Borse AG	157,536	27,966
Goldman Sachs Group, Inc.	131,643	43,141
Intercontinental Exchange, Inc.	680,534	80,296
KKR & Co. LP	384,722	24,164
London Stock Exchange Group PLC	116,976	12,102
Moody's Corp.	66,986	22,561
Morgan Stanley	1,131,737	96,367
Raymond James Financial, Inc.	130,219	13,620
TulCo LLC (a)(d)(e)(f)	42,857	35,091
		628,581
Consumer Finance - 0.2%
American Express Co.	260,875	41,216
Capital One Financial Corp.	223,355	22,869
		64,085
Financial Services - 2.7%
Berkshire Hathaway, Inc. Class B (a)	199,181	71,745
Block, Inc. Class A (a)	703,917	40,581
MasterCard, Inc. Class A	1,123,277	463,509
New Moda LLC Class 1 (a)(d)	62,880	45
Toast, Inc. (a)	1,304,139	28,913
Visa, Inc. Class A	614,793	151,042
		755,835
Insurance - 1.1%
Arthur J. Gallagher & Co.	456,172	105,139
Chubb Ltd.	111,282	22,353
Globe Life, Inc.	226,584	25,280
Hartford Financial Services Group, Inc.	251,233	18,044
Marsh & McLennan Companies, Inc.	418,040	81,514
The Travelers Companies, Inc.	365,893	58,993
		311,323
TOTAL FINANCIALS		1,880,271
HEALTH CARE - 7.6%
Biotechnology - 1.5%
Argenx SE ADR (a)	133,881	67,274
Exact Sciences Corp. (a)	847,973	70,950
Karuna Therapeutics, Inc. (a)	66,679	12,520
Legend Biotech Corp. ADR (a)	962,760	66,777
Moderna, Inc. (a)	265,315	29,999
Nuvalent, Inc. Class A (a)	136,206	6,207
Prothena Corp. PLC (a)	157,706	8,330
Regeneron Pharmaceuticals, Inc. (a)	108,033	89,288
Vertex Pharmaceuticals, Inc. (a)	196,688	68,514
		419,859
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.	172,865	7,018
Boston Scientific Corp. (a)	5,254,152	283,409
Intuitive Surgical, Inc. (a)	176,801	55,282
Penumbra, Inc. (a)	11,798	3,121
Stryker Corp.	624,623	177,112
		525,942
Health Care Providers & Services - 1.6%
agilon health, Inc. (a)	3,845,119	68,136
Cardinal Health, Inc.	139,449	12,178
Cigna Group	35,007	9,671
CVS Health Corp.	815,934	53,174
UnitedHealth Group, Inc.	616,054	293,599
		436,758
Health Care Technology - 0.1%
Evolent Health, Inc. (e)	976,600	23,667
Life Sciences Tools & Services - 0.2%
Agilent Technologies, Inc.	241,902	29,287
Thermo Fisher Scientific, Inc.	38,653	21,534
		50,821
Pharmaceuticals - 2.3%
AstraZeneca PLC sponsored ADR	99,126	6,723
Eli Lilly & Co.	713,203	395,257
Merck & Co., Inc.	1,833,043	199,765
Novo Nordisk A/S Series B	203,959	37,621
		639,366
TOTAL HEALTH CARE		2,096,413
INDUSTRIALS - 9.1%
Aerospace & Defense - 2.4%
BWX Technologies, Inc.	25,995	1,917
Howmet Aerospace, Inc.	1,154,213	57,099
Lockheed Martin Corp.	322,957	144,798
Space Exploration Technologies Corp.:
Class A (a)(d)(e)	411,220	33,309
Class C (a)(d)(e)	56,070	4,542
The Boeing Co. (a)	1,702,487	381,408
TransDigm Group, Inc.	40,185	36,321
		659,394
Building Products - 0.7%
ASSA ABLOY AB (B Shares)	179,923	4,049
Fortune Brands Home & Security, Inc. (b)	415,423	28,672
Johnson Controls International PLC	530,310	31,320
Trane Technologies PLC	583,934	119,858
		183,899
Commercial Services & Supplies - 0.3%
Cintas Corp.	147,978	74,606
Copart, Inc.	51,578	2,312
		76,918
Construction & Engineering - 0.2%
Fluor Corp. (a)	1,262,735	44,183
Willscot Mobile Mini Holdings (a)	112,777	4,626
		48,809
Electrical Equipment - 2.4%
Eaton Corp. PLC	2,282,838	525,897
Hubbell, Inc. Class B	152,555	49,741
Prysmian SpA	396,837	16,261
Regal Rexnord Corp.	33,483	5,431
Vertiv Holdings Co.	1,676,313	66,030
		663,360
Ground Transportation - 1.0%
Canadian Pacific Kansas City Ltd.	156,925	12,457
Lyft, Inc. (a)	1,474,270	17,367
Uber Technologies, Inc. (a)	5,218,050	246,449
		276,273
Industrial Conglomerates - 0.8%
General Electric Co.	2,055,130	235,230
Machinery - 0.8%
Caterpillar, Inc.	652,600	183,465
PACCAR, Inc.	94,610	7,785
Parker Hannifin Corp.	17,296	7,211
Pentair PLC	287,877	20,226
		218,687
Passenger Airlines - 0.2%
Copa Holdings SA Class A (b)	414,319	42,136
Delta Air Lines, Inc.	404,342	17,338
		59,474
Professional Services - 0.2%
Equifax, Inc.	263,459	54,457
Paycom Software, Inc.	44,481	13,115
		67,572
Trading Companies & Distributors - 0.1%
Bunzl PLC	59,932	2,149
W.W. Grainger, Inc.	39,183	27,982
		30,131
TOTAL INDUSTRIALS		2,519,747
INFORMATION TECHNOLOGY - 20.0%
Electronic Equipment, Instruments & Components - 0.4%
Amphenol Corp. Class A	884,476	78,170
Flex Ltd. (a)	1,341,113	37,001
		115,171
IT Services - 1.4%
Accenture PLC Class A	392,681	127,138
Shopify, Inc. Class A (a)	3,536,603	235,149
Snowflake, Inc. (a)	198,573	31,146
X Holdings Corp. Class A (d)(e)	172,430	6,651
		400,084
Semiconductors & Semiconductor Equipment - 8.1%
Advanced Micro Devices, Inc. (a)	728,361	77,002
Analog Devices, Inc.	816,197	148,368
Applied Materials, Inc.	215,235	32,879
ASML Holding NV (depository receipt)	89,081	58,841
First Solar, Inc. (a)	331,333	62,662
GlobalFoundries, Inc. (a)	1,170,500	64,670
Lam Research Corp.	82,821	58,173
Lattice Semiconductor Corp. (a)	235,683	22,923
Marvell Technology, Inc.	5,899,991	343,674
Monolithic Power Systems, Inc.	69,386	36,165
NVIDIA Corp.	2,059,165	1,016,301
NXP Semiconductors NV	353,728	72,769
ON Semiconductor Corp. (a)	626,534	61,689
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	1,471,872	137,723
Universal Display Corp.	220,743	35,884
		2,229,723
Software - 8.3%
Adobe, Inc. (a)	217,331	121,562
Atom Tickets LLC (a)(d)(e)(f)	2,580,511	0
Autodesk, Inc. (a)	77,776	17,262
Confluent, Inc. (a)	256,248	8,479
Dynatrace, Inc. (a)	1,936,913	93,359
Fair Isaac Corp. (a)	16,298	14,743
HubSpot, Inc. (a)	53,888	29,451
Microsoft Corp.	4,911,038	1,609,639
Oracle Corp.	1,152,210	138,715
Salesforce, Inc. (a)	424,201	93,944
Synopsys, Inc. (a)	142,288	65,295
Tenable Holdings, Inc. (a)	101,460	4,603
UiPath, Inc. Class A (a)	316,636	5,006
Workday, Inc. Class A (a)	370,318	90,543
		2,292,601
Technology Hardware, Storage & Peripherals - 1.8%
Apple, Inc.	2,571,692	483,144
Samsung Electronics Co. Ltd.	100,000	5,049
		488,193
TOTAL INFORMATION TECHNOLOGY		5,525,772
MATERIALS - 2.2%
Chemicals - 1.6%
Linde PLC	551,275	213,365
Sherwin-Williams Co.	825,635	224,342
		437,707
Construction Materials - 0.0%
Martin Marietta Materials, Inc.	12,297	5,490
Containers & Packaging - 0.1%
Aptargroup, Inc.	14,694	1,948
Ball Corp.	402,659	21,925
		23,873
Metals & Mining - 0.5%
First Quantum Minerals Ltd.	1,529,169	41,081
Franco-Nevada Corp.	37,930	5,464
Freeport-McMoRan, Inc.	87,751	3,502
Newcrest Mining Ltd.	1,180,197	19,670
Newmont Corp.	1,492,933	58,851
Nucor Corp.	22,741	3,914
Wheaton Precious Metals Corp.	236,299	10,307
		142,789
TOTAL MATERIALS		609,859
TOTAL COMMON STOCKS (Cost $11,466,456)		17,638,051

Preferred Stocks - 0.3%
	Shares	Value ($) (000s)
Convertible Preferred Stocks - 0.3%
COMMUNICATION SERVICES - 0.1%
Interactive Media & Services - 0.1%
ByteDance Ltd. Series E1 (a)(d)(e)	145,676	32,936
Reddit, Inc. Series E (a)(d)(e)	28,500	1,019
		33,955
CONSUMER DISCRETIONARY - 0.1%
Textiles, Apparel & Luxury Goods - 0.1%
Goop International Holdings, Inc.:
Series C(a)(d)(e)	1,881,874	13,361
Series D(a)(d)(e)	342,241	2,430
		15,791
HEALTH CARE - 0.0%
Health Care Providers & Services - 0.0%
Get Heal, Inc. Series B (a)(d)(e)	8,512,822	1

INDUSTRIALS - 0.1%
Aerospace & Defense - 0.1%
Space Exploration Technologies Corp. Series H (a)(d)(e)	51,921	42,056

TOTAL CONVERTIBLE PREFERRED STOCKS		91,803
Nonconvertible Preferred Stocks - 0.0%
CONSUMER DISCRETIONARY - 0.0%
Automobiles - 0.0%
Neutron Holdings, Inc.:
Series 1C(a)(d)(e)	38,589,900	1,108
Series 1D(a)(d)(e)	40,824,742	1,172
		2,280
TOTAL PREFERRED STOCKS (Cost $66,156)		94,083

Corporate Bonds - 0.0%
	Principal Amount (g) (000s)	Value ($) (000s)
Convertible Bonds - 0.0%
CONSUMER DISCRETIONARY - 0.0%
Automobiles - 0.0%
Neutron Holdings, Inc.:
4% 5/22/27(d)(e)	1,371	1,609
4% 6/12/27(d)(e)	354	416
		2,025
Nonconvertible Bonds - 0.0%
FINANCIALS - 0.0%
Financial Services - 0.0%
Ant International Co. Ltd. 3.55% 8/14/24 (d)(e)	3,617	3,599

TOTAL CORPORATE BONDS (Cost $5,342)		5,624

Fixed-Income Funds - 35.4%
	Shares	Value ($) (000s)
Fidelity High Income Central Fund (h)	12,201,623	1,251,032
Fidelity Investment Grade Bond Central Fund (h)	88,606,556	8,540,786
TOTAL FIXED-INCOME FUNDS (Cost $10,957,775)		9,791,818

Other - 0.0%
	Shares	Value ($) (000s)
Other - 0.0%
Fidelity Private Credit Central Fund LLC (e) (Cost $5,439)	543,678	5,469

Money Market Funds - 0.7%
	Shares	Value ($) (000s)
Fidelity Cash Central Fund 5.43% (i)	119,191,365	119,215
Fidelity Securities Lending Cash Central Fund 5.44% (i)(j)	69,415,773	69,423
TOTAL MONEY MARKET FUNDS (Cost $188,638)		188,638

TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $22,689,806)	27,723,683
NET OTHER ASSETS (LIABILITIES) - (0.2)%	(62,242)
NET ASSETS - 100.0%	27,661,441

Any values shown as $0 in the Consolidated Schedule of Investments may reflect amounts less than $500

Legend

(a)	Non-income producing

(b)	Security or a portion of the security is on loan at period end.

(c)	Affiliated company

(d)	Level 3 security

(e)	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 $272,421,000 or 1.0% 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. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements,which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(i)

Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

(j)	Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:
Security	Acquisition Date	Acquisition Cost ($) (000s)
Ant International Co. Ltd. 3.55% 8/14/24	8/14/23	3,617

Atom Tickets LLC	8/15/17	15,000

Blu Investments LLC	5/21/20	26

ByteDance Ltd. Series E1	11/18/20	15,962

Evolent Health, Inc.	3/28/23	28,321

Fidelity Private Credit Central Fund LLC	5/26/23 - 8/29/23	5,439

Get Heal, Inc. Series B	8/17/23	18

Goop International Holdings, Inc. Series C	12/15/17	20,000

Goop International Holdings, Inc. Series D	6/21/19	5,000

Neutron Holdings, Inc.	2/04/21	42

Neutron Holdings, Inc. Series 1C	7/03/18 - 1/25/19	7,056

Neutron Holdings, Inc. Series 1D	7/03/18 - 1/25/19	9,900

Neutron Holdings, Inc. 4% 5/22/27	6/04/20	1,371

Neutron Holdings, Inc. 4% 6/12/27	6/12/20	354

Reddit, Inc. Series E	5/18/21	1,211

Space Exploration Technologies Corp. Class A	9/11/17	5,551

Space Exploration Technologies Corp. Class C	9/11/17	757

Space Exploration Technologies Corp. Series H	8/04/17	7,009

Starling Bank Ltd. Series D	6/18/21 - 4/05/22	13,909

Tory Burch LLC Class A	5/14/15	50,000

Tory Burch LLC Class B	12/31/12	17,505

TulCo LLC	8/24/17 - 12/14/17	15,000

X Holdings Corp. Class A	10/25/22	17,243

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

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 5.43%	642,362	5,174,596	5,697,743	12,041	-	-	119,215	0.3%
Fidelity High Income Central Fund	1,577,613	104,176	425,436	104,177	(31,806)	26,485	1,251,032	85.0%
Fidelity Investment Grade Bond Central Fund	8,577,708	312,325	5,004	312,325	102	(344,345)	8,540,786	22.7%
Fidelity Private Credit Central Fund LLC	-	5,439	-	46	-	30	5,469	0.8%
Fidelity Securities Lending Cash Central Fund 5.44%	117,626	878,367	926,570	284	-	-	69,423	0.2%
Total	10,915,309	6,474,903	7,054,753	428,873	(31,704)	(317,830)	9,985,925

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Consolidated Statement of Operations, if applicable.

Amounts in the dividend income column 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.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.

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 ($)
LiveOne, Inc.	6,720	-	4	-	(4)	7,662	14,374
Total	6,720	-	4	-	(4)	7,662	14,374

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

The following is a summary of the inputs used, as of August 31, 2023, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Consolidated Financial Statements.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	1,941,342	1,889,919	17,468	33,955
Consumer Discretionary	1,862,256	1,745,371	64,604	52,281
Consumer Staples	422,846	422,846	-	-
Energy	831,571	831,571	-	-
Financials	1,880,271	1,775,292	40,068	64,911
Health Care	2,096,414	2,035,125	61,288	1
Industrials	2,561,803	2,477,847	4,049	79,907
Information Technology	5,525,772	5,519,121	-	6,651
Materials	609,859	590,189	19,670	-

Corporate Bonds	5,624	-	-	5,624

Fixed-Income Funds	9,791,818	9,791,818	-	-

Other	5,469	-	5,469	-

Money Market Funds	188,638	188,638	-	-
Total Investments in Securities:	27,723,683	27,267,737	212,616	243,330

Consolidated Financial Statements

Consolidated Statement of Assets and Liabilities
Amounts in thousands (except per-share amounts)				August 31, 2023

Assets
Investment in securities, at value (including securities loaned of $66,822) - See accompanying schedule:
Unaffiliated issuers (cost $11,517,513)	$	17,723,384
Fidelity Central Funds (cost $11,151,852)		9,985,925
Other affiliated issuers (cost $20,441)		14,374


Total Investment in Securities (cost $22,689,806)			$	27,723,683
Cash				32
Restricted cash				891
Receivable for investments sold				76,444
Receivable for fund shares sold				7,163
Dividends receivable				10,585
Interest receivable				228
Distributions receivable from Fidelity Central Funds				1,306
Prepaid expenses				47
Other receivables				1,387
Total assets				27,821,766
Liabilities
Payable for investments purchased	$	65,306
Payable for fund shares redeemed		13,063
Accrued management fee		8,571
Other affiliated payables		2,734
Other payables and accrued expenses		1,218
Collateral on securities loaned		69,433
Total Liabilities				160,325
Commitments and contingent liabilities (see Commitments note)
Net Assets			$	27,661,441
Net Assets consist of:
Paid in capital			$	21,746,957
Total accumulated earnings (loss)				5,914,484
Net Assets			$	27,661,441

Net Asset Value and Maximum Offering Price
Puritan :
Net Asset Value, offering price and redemption price per share ($23,958,959 ÷ 1,033,465 shares)			$	23.18
Class K :
Net Asset Value, offering price and redemption price per share ($3,702,482 ÷ 159,855 shares)			$	23.16

Consolidated Statement of Operations
Amounts in thousands				Year ended August 31, 2023
Investment Income
Dividends			$	179,623
Interest				622
Income from Fidelity Central Funds (including $284 from security lending)				427,595
Total Income				607,840
Expenses
Management fee	$	100,725
Transfer agent fees		29,822
Accounting fees		2,151
Custodian fees and expenses		198
Independent trustees' fees and expenses		149
Registration fees		158
Audit		224
Legal		36
Interest		1
Miscellaneous		131
Total expenses before reductions		133,595
Expense reductions		(1,352)
Total expenses after reductions				132,243
Net Investment income (loss)				475,597
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		918,114
Redemptions in-kind		4,410
Fidelity Central Funds		(31,704)
Other affiliated issuers		(4)
Foreign currency transactions		(189)
Written options		24,780
Capital gain distributions from Fidelity Central Funds		1,278
Total net realized gain (loss)				916,685
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Investments		1,940,265
Fidelity Central Funds		(317,830)
Other affiliated issuers		7,662
Assets and liabilities in foreign currencies		59
Total change in net unrealized appreciation (depreciation)				1,630,156
Net gain (loss)				2,546,841
Net increase (decrease) in net assets resulting from operations			$	3,022,438

Consolidated Statement of Changes in Net Assets

Amount in thousands		Year ended August 31, 2023		Year ended August 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	475,597	$	420,398
Net realized gain (loss)		916,685		2,620,374
Change in net unrealized appreciation (depreciation)		1,630,156		(7,070,717)
Net increase (decrease) in net assets resulting from operations		3,022,438		(4,029,945)
Distributions to shareholders		(2,340,895)		(4,259,091)

Share transactions - net increase (decrease)		(699,333)		1,462,727
Total increase (decrease) in net assets		(17,790)		(6,826,309)

Net Assets
Beginning of period		27,679,231		34,505,540
End of period	$	27,661,441	$	27,679,231

Consolidated Financial Highlights

Fidelity® Puritan® Fund

Years ended August 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	22.76	$	29.62	$	25.87	$	22.17	$	25.10
Income from Investment Operations
Net investment income (loss) A,B		.38		.33		.25		.30		.34
Net realized and unrealized gain (loss)		1.98		(3.57)		4.79		4.35		(.27)
Total from investment operations		2.36		(3.24)		5.04		4.65		.07
Distributions from net investment income		(.35)		(.39) C		(.25)		(.32)		(.36)
Distributions from net realized gain		(1.59)		(3.23) C		(1.04)		(.63)		(2.63)
Total distributions		(1.94)		(3.62)		(1.29)		(.95)		(3.00) D
Net asset value, end of period	$	23.18	$	22.76	$	29.62	$	25.87	$	22.17
Total Return E		12.00%		(12.30)%		20.33%		21.84%		1.17%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.51%		.50%		.51%		.52%		.53%
Expenses net of fee waivers, if any		.50%		.50%		.51%		.52%		.53%
Expenses net of all reductions		.50%		.50%		.50%		.52%		.53%
Net investment income (loss)		1.76%		1.31%		.93%		1.33%		1.58%
Supplemental Data
Net assets, end of period (in millions)	$	23,959	$	23,519	$	28,846	$	24,168	$	21,319
Portfolio turnover rate H		52% I		62% I		58% I		55% I		132% I

ACalculated based on average shares outstanding during the period.

BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

CThe amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

DTotal distributions per share do not sum due to rounding.

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to consolidated Financial Statements section of the most recent Annual or Semi-Annual report. For additional expense information related to investments in Fidelity Private Credit Central Fund LLC, please refer to the Investment in Fidelity Private Credit Central Fund LLC note found in the Notes to consolidated Financial Statements section of the most recent Annual or Semi-Annual report.

HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

IPortfolio turnover rate excludes securities received or delivered in-kind.

Fidelity® Puritan® Fund Class K

Years ended August 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	22.74	$	29.60	$	25.85	$	22.15	$	25.09
Income from Investment Operations
Net investment income (loss) A,B		.40		.35		.27		.32		.36
Net realized and unrealized gain (loss)		1.98		(3.57)		4.79		4.35		(.28)
Total from investment operations		2.38		(3.22)		5.06		4.67		.08
Distributions from net investment income		(.37)		(.41) C		(.27)		(.34)		(.38)
Distributions from net realized gain		(1.59)		(3.23) C		(1.04)		(.63)		(2.63)
Total distributions		(1.96)		(3.64)		(1.31)		(.97)		(3.02) D
Net asset value, end of period	$	23.16	$	22.74	$	29.60	$	25.85	$	22.15
Total Return E		12.10%		(12.24)%		20.43%		21.97%		1.22%
Ratios to Average Net Assets B,F,G
Expenses before reductions		.43%		.43%		.43%		.44%		.45%
Expenses net of fee waivers, if any		.42%		.42%		.43%		.44%		.45%
Expenses net of all reductions		.42%		.42%		.43%		.43%		.44%
Net investment income (loss)		1.84%		1.39%		1.00%		1.41%		1.67%
Supplemental Data
Net assets, end of period (in millions)	$	3,702	$	4,160	$	5,659	$	5,478	$	5,662
Portfolio turnover rate H		52% I		62% I		58% I		55% I		132% I

ACalculated based on average shares outstanding during the period.

CThe amount shown reflects reclassifications related to book to tax differences that were made in the year shown.

DTotal distributions per share do not sum due to rounding.

ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

IPortfolio turnover rate excludes securities received or delivered in-kind.

Notes to Consolidated Financial Statements

For the period ended August 31, 2023

(Amounts in thousands except percentages)

1. Organization.

Fidelity Puritan Fund (the Fund) is a fund of Fidelity Puritan Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Puritan and Class K shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.

2. Investments in Fidelity Central Funds.

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Consolidated Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense RatioA
Fidelity High Income Central Fund	Fidelity Management & Research Company LLC (FMR)	Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities.	Loans & Direct Debt Instruments Restricted Securities	.03%
Fidelity Investment Grade Bond Central Fund	Fidelity Management & Research Company LLC (FMR)	Seeks a high level of income by normally investing in investment-grade debt securities.	Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps	Less than .005%
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%

A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

An unaudited holdings listing for the investing fund, which presents direct holdings as well as the pro-rata share of any securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.

3. Investment in Fidelity Private Credit Central Fund LLC.

The Fund invests in Fidelity Private Credit Central Fund LLC (formerly Fidelity Direct Lending Fund, LP), which is a limited liability company available only to certain investment companies managed by the investment adviser and its affiliates. On June 1, 2023, Fidelity Private Credit Central Fund elected to be regulated as a business development company (BDC). Fidelity Private Credit Central Fund LLC's units are not registered under the Securities Act of 1933 and are subject to substantial restrictions on transfer. The Fund has no redemption rights under Fidelity Private Credit Central Fund LLC's limited liability company agreement. There will be no trading market for the units.

Based on its investment objective, Fidelity Private Credit Central Fund LLC may invest or participate in various investments or strategies that are similar to those in which the Fund may invest or participate. These strategies are consistent with the investment objectives of the Fund and may involve certain economic risks which may cause a decline in value of Fidelity Private Credit Central Fund LLC and thus a decline in the value of the Fund. Fidelity Private Credit Central Fund LLC intends to invest primarily in directly originated loans to private companies but also with liquid credit investments, like broadly syndicated loans, and other select private credit investments.

The Consolidated Schedule of Investments lists Fidelity Private Credit Central Fund LLC as an investment as of period end, but does not include the underlying holdings of Fidelity Private Credit Central Fund LLC. Fidelity Private Credit Central Fund LLC represented less than 5% of the Fund's net assets at period end. The Fund indirectly bears its proportionate share of the expenses of Fidelity Private Credit Central Fund LLC. The annualized expense ratio for Fidelity Private Credit Central Fund LLC for the six month period ended June 30, 2023 was 8.51%.

4. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the consolidated financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the consolidated financial statements were issued have been evaluated in the preparation of the consolidated financial statements. The Fund's Consolidated Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted 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)

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 service 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, 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.

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate bonds are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Fidelity Private Credit Central Fund LLC is valued at its net asset value (NAV) each month end and is categorized as Level 2 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of August 31, 2023 is included at the end of the Fund's Consolidated Schedule of Investments.

Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.

Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.

The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Consolidated Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Debt obligations may be placed on non-accrual status and related interest income may be reduced by ceasing current accruals and writing off interest receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. A debt obligation is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Consolidated Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Consolidated Statement of Assets and Liabilities in dividends receivable.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying consolidated financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds (ETFs). Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund (ETF). Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Consolidated Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.

Fidelity Puritan Fund

$1,042

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of August 31, 2023, the Fund did not have any unrecognized tax benefits in the consolidated financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.

Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP. In addition, the Fund claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

Capital accounts within the consolidated financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to foreign currency transactions, redemptions in-kind and losses deferred due to wash sales.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$6,483,005
Gross unrealized depreciation	(1,480,466)
Net unrealized appreciation (depreciation)	$5,002,539
Tax Cost	$22,721,145

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$82,916
Undistributed long-term capital gain	$829,045
Net unrealized appreciation (depreciation) on securities and other investments	$5,002,523

The tax character of distributions paid was as follows:

	August 31, 2023	August 31, 2022
Ordinary Income	$433,341	$1,197,159
Long-term Capital Gains	1,907,554	3,061,932
Total	$2,340,895	$4,259,091

Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Consolidated Schedule of Investments, if applicable.

Commitments. A commitment is an agreement to acquire an investment at a future date (subject to conditions) in connection with a potential public or non-public offering. The amount of commitments outstanding at period end are presented in the table below. These commitments are not included in the net assets of the Fund at period end.

	Investment to be Acquired	Commitment Amount
Fidelity Puritan Fund	Fidelity Private Credit Central Fund LLC	$52,407

Consolidated Subsidiary. The Funds included in the table below hold certain investments through a wholly-owned subsidiary ("Subsidiary"), which may be subject to federal and state taxes upon disposition.

As of period end, investments in Subsidiaries were as follows:

	$ Amount	% of Net Assets
Fidelity Puritan Fund	70,067	.25

The financial statements have been consolidated to include the Subsidiary accounts where applicable. Accordingly, all inter-company transactions and balances have been eliminated.

At period end, any estimated tax liability for these investments is presented as "Deferred taxes" in the Consolidated Statement of Assets and Liabilities and included in "Change in net unrealized appreciation (depreciation) on investment securities" in the Consolidated Statement of Operations. The tax liability incurred may differ materially depending on conditions when these investments are disposed. Any cash held by a Subsidiary is restricted as to its use and is presented as "Restricted cash" in the Consolidated Statement of Assets and Liabilities, if applicable.

5. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including options. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.

Derivatives were used to increase or decrease exposure to the following risk(s):


Equity Risk	Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Consolidated Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Options. Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date.

Exchange-traded written covered call options were used to manage exposure to the market. When a fund writes a covered call option, a fund holds the underlying instrument which must be delivered to the holder upon the exercise of the option.

Upon entering into a written options contract, a fund will receive a premium. Premiums received are reflected as a liability on the Consolidated Statement of Assets and Liabilities. Options are valued daily and any unrealized appreciation (depreciation) is reflected in total accumulated earnings (loss) in the Consolidated Statement of Assets and Liabilities. When a written option is exercised, the premium is added to the proceeds from the sale of the underlying instrument in determining the gain or loss realized on that investment. When an option is closed, a gain or loss is realized depending on whether the proceeds or amount paid for the closing sale transaction are greater or less than the premium received. When an option expires, gains and losses are realized to the extent of premiums received. The net realized gain (loss) on closed and expired written options and the change in net unrealized appreciation (depreciation) on written options are presented in the Consolidated Statement of Operations.

Writing call options tends to decrease exposure to the underlying instrument and risk of loss is the change in value in excess of the premium received.

Any open options at period end are presented in the Consolidated Schedule of Investments under the caption "Written Options", and are representative of volume of activity during the period unless an average contracts amount is presented.

6. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Puritan Fund	13,832,717	15,796,822

Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Consolidated Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Consolidated Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

	Shares	Total net realized gain or loss ($)	Total Proceeds ($)	Participating classes
Fidelity Puritan Fund	710	4,410	15,422	Class K

Prior Fiscal Year Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Consolidated Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

	Shares	Total net realized gain or loss ($)	Total Proceeds ($)	Participating classes
Fidelity Puritan Fund	11,361	114,304	291,485	Puritan and Class K

7. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee. The management fee is the sum of an individual fund fee rate that is based on an annual rate of .15% of the Fund's average net assets and an annualized group fee rate that averaged .23% during the period. The group fee rate is based upon the monthly average net assets of a group of registered investment companies with which the investment adviser has management contracts. The group fee rate decreases as assets under management increase and increases as assets under management decrease. For the reporting period, the total annual management fee rate was .38% of the Fund's average net assets.

Transfer Agent Fees. Fidelity Investments Institutional Operations Company LLC (FIIOC), an affiliate of the investment adviser, is the transfer, dividend disbursing and shareholder servicing agent for each class of the Fund. FIIOC receives account fees and asset-based fees that vary according to the account size and type of account of the shareholders of the respective classes of the Fund, except for Class K. FIIOC receives an asset-based fee of Class K's average net assets. FIIOC pays for typesetting, printing and mailing of shareholder reports, except proxy statements.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Puritan	$28,162	.12
Class K	1,660	.04
	$29,822

Accounting Fees. Fidelity Service Company, Inc. (FSC), an affiliate of the investment adviser, maintains the Fund's accounting records. The accounting fee is based on the level of average net assets for each month. For the period, the fees were equivalent to the following annual rates:

	% of Average Net Assets
Fidelity Puritan Fund	.01

Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Consolidated Statement of Operations. The commissions paid to these affiliated firms were as follows:

	Amount
Fidelity Puritan Fund	$ 319

Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Puritan Fund	Borrower	$6,684	3.32%	$1

Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Puritan Fund	630,251	908,915	83,544

8. Committed Line of Credit.

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Consolidated Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.

	Amount
Fidelity Puritan Fund	$50

9. Security Lending.

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Consolidated Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Consolidated Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Consolidated Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:

	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 Puritan Fund	$29	$5	$-

10. Expense Reductions.

The investment adviser has contractually agreed to waive the Fund's management fee with respect to the portion of the Fund's assets invested in Fidelity Private Credit Central Fund LLC until December 31, 2024. During the period, this waiver reduced the Fund's management fee by $2.

Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $3.

In addition, during the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $1,347.

11. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended August 31, 2023	Year ended August 31, 2022
Fidelity Puritan Fund
Distributions to shareholders
Puritan	$ 1,987,615	$3,565,291
Class K	353,280	693,800
Total	$2,340,895	$4,259,091

12. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended August 31, 2023	Year ended August 31, 2022	Year ended August 31, 2023	Year ended August 31, 2022
Fidelity Puritan Fund
Puritan
Shares sold	52,955	76,593	$1,149,216	$1,980,329
Reinvestment of distributions	94,555	128,760	1,862,907	3,364,271
Shares redeemed	(147,229)	(145,883)	(3,168,970)	(3,687,223)
Net increase (decrease)	281	59,470	$(156,847)	$1,657,377
Class K
Shares sold	17,434	18,873	$375,693	$482,080
Reinvestment of distributions	17,952	26,573	353,263	693,798
Shares redeemed	(58,447)	(53,712)	(1,271,442)	(1,370,528)
Net increase (decrease)	(23,061)	(8,266)	$(542,486)	$(194,650)

13. Other.

A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.

14. Risk and Uncertainties.

Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Puritan Trust and Shareholders of Fidelity Puritan Fund

Opinion on the Financial Statements

We have audited the accompanying consolidated statement of assets and liabilities, including the consolidated schedule of investments, of Fidelity Puritan Fund and its subsidiaries (one of the funds constituting Fidelity Puritan Trust, referred to hereafter as the "Fund") as of August 31, 2023, the related consolidated statement of operations for the year ended August 31, 2023, the consolidated statement of changes in net assets for each of the two years in the period ended August 31, 2023, including the related notes, and the consolidated financial highlights for each of the five years in the period ended August 31, 2023 (collectively referred to as the "consolidated financial statements"). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2023, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2023 and the financial highlights for each of the five years in the period ended August 31, 2023 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These consolidated financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our procedures included confirmation of securities owned as of August 31, 2023 by correspondence with the custodian, issuers of privately offered securities and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 13, 2023

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

TRUSTEES AND OFFICERS

The Trustees, Members of the Advisory Board (if any), and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance. Except for Jonathan Chiel, each of the Trustees oversees 322 funds. Mr. Chiel oversees 191 funds.

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust. Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund is referred to herein as an Independent Trustee. Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs. The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees. Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years.

The fund's Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one.

Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.

Board Structure and Oversight Function. Robert A. Lawrence is an interested person and currently serves as Chair. The Trustees have determined that an interested Chair is appropriate and benefits shareholders because an interested Chair has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chair, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chair and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. David M. Thomas serves as Lead Independent Trustee and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity® funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's high income and certain equity funds, and other Boards oversee Fidelity's alternative investment, investment-grade bond, money market, asset allocation, and other equity funds. The asset allocation funds may invest in Fidelity® funds overseen by the fund's Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks. The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above. Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees. While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations, Audit, and Compliance Committees. Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds. The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees."

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Mr. Chiel also serves as Trustee of other Fidelity® funds. Mr. Chiel is Executive Vice President and General Counsel for FMR LLC (diversified financial services company, 2012-present). Previously, Mr. Chiel served as general counsel (2004-2012) and senior vice president and deputy general counsel (2000-2004) for John Hancock Financial Services; a partner with Choate, Hall & Stewart (1996-2000) (law firm); and an Assistant United States Attorney for the United States Attorney's Office of the District of Massachusetts (1986-95), including Chief of the Criminal Division (1993-1995). Mr. Chiel is a director on the boards of the Boston Bar Foundation and the Maimonides School.

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Ms. Doulton also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Doulton served in a variety of positions at Fidelity Investments, including as a managing director of research (2006-2007), portfolio manager to certain Fidelity® funds (1993-2005), equity analyst and portfolio assistant (1990-1993), and research assistant (1987-1990). Ms. Doulton currently owns and operates Phi Builders + Architects and Cellardoor Winery. Previously, Ms. Doulton served as a member of the Board of Brown Capital Management, LLC (2014-2018).

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Chair of the Board of Trustees

Mr. Lawrence also serves as Trustee of other funds. Previously, Mr. Lawrence served as a Trustee and Member of the Advisory Board of certain funds. Prior to his retirement in 2008, Mr. Lawrence served as Vice President of certain Fidelity® funds (2006-2008), Senior Vice President, Head of High Income Division of Fidelity Management & Research Company (investment adviser firm, 2006-2008), and President of Fidelity Strategic Investments (investment adviser firm, 2002-2005).

* Determined to be an "Interested Trustee" by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

+ The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Lieutenant General Bostick also serves as Trustee of other Fidelity® funds. Prior to his retirement, General Bostick (United States Army, Retired) held a variety of positions within the U.S. Army, including Commanding General and Chief of Engineers, U.S. Army Corps of Engineers (2012-2016) and Deputy Chief of Staff and Director of Human Resources, U.S. Army (2009-2012). General Bostick currently serves as a member of the Board and Finance and Governance & Sustainability Committees of CSX Corporation (transportation, 2020-present) and a member of the Board and Corporate Governance and Nominating Committee of Perma-Fix Environmental Services, Inc. (nuclear waste management, 2020-present). General Bostick serves as Chief Executive Officer of Bostick Global Strategies, LLC (consulting, 2016-present), as a member of the Board of HireVue, Inc. (video interview and assessment, 2020-present), as a member of the Board of Allonnia (biotechnology and engineering solutions, 2022-present) and on the Advisory Board of Solugen, Inc. (specialty bio-based chemicals manufacturer, 2022-present). Previously, General Bostick served as a Member of the Advisory Board of certain Fidelity® funds (2021), President, Intrexon Bioengineering (2018-2020) and Chief Operating Officer (2017-2020) and Senior Vice President of the Environment Sector (2016-2017) of Intrexon Corporation (biopharmaceutical company).

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Mr. Dirks also serves as Trustee of other Fidelity® funds. Prior to his retirement in May 2003, Mr. Dirks served as Chief Operating Officer and as a member of the Board of The Depository Trust & Clearing Corporation (financial markets infrastructure), President, Chief Operating Officer and a member of the Board of The Depository Trust Company (DTC), President and a member of the Board of the National Securities Clearing Corporation (NSCC), Chief Executive Officer and a member of the Board of the Government Securities Clearing Corporation and Chief Executive Officer and a member of the Board of the Mortgage-Backed Securities Clearing Corporation. Mr. Dirks currently serves as a member of the Finance Committee (2016-present) and Board (2017-present) and is Treasurer (2018-present) of the Asolo Repertory Theatre.

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Mr. Donahue also serves as Trustee of other Fidelity® funds. Mr. Donahue serves as President and Chief Executive Officer of Miranda Partners, LLC (risk consulting for the financial services industry, 2012-present). Previously, Mr. Donahue served as Chief Executive Officer (2006-2012), Chief Operating Officer (2003-2006) and Managing Director, Customer Marketing and Development (1999-2003) of The Depository Trust & Clearing Corporation (financial markets infrastructure). Mr. Donahue currently serves as a member (2007-present) and Co-Chairman (2016-present) of the Board of United Way of New York. Mr. Donahue previously served as a member of the Advisory Board of certain Fidelity® funds (2015-2018) and as a member of the Board of The Leadership Academy (previously NYC Leadership Academy) (2012-2022).

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Ms. Fuller also serves as Trustee of other Fidelity® funds. Previously, Ms. Fuller served as a member of the Advisory Board of certain Fidelity® funds (2018-2020), Chief Investment Officer of the New York State Common Retirement Fund (2012-2018) and held a variety of positions at AllianceBernstein L.P. (global asset management, 1985-2012), including Managing Director (2006-2012) and Senior Vice President and Senior Portfolio Manager (2001-2006). Ms. Fuller currently serves as a member of the Board, Audit Committee and Nominating and Governance Committee of two Blackstone business development companies (2020-present), as a member of the Board of Treliant, LLC (consulting, 2019-present), as a member of the Board of Ariel Alternatives, LLC (private equity, 2022-present) and as a member of the Board and Chair of the Audit Committee of Gusto, Inc. (software, 2021-present). In addition, Ms. Fuller currently serves as a member of the Board of Roosevelt University (2019-present) and as a member of the Executive Board of New York University's Stern School of Business. Ms. Fuller previously served as a member of the Board, Audit Committee and Nominating and Governance Committee of The Williams Companies, Inc. (natural gas infrastructure, 2018-2021).

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Ms. Kampling also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Kampling served as Chairman of the Board and Chief Executive Officer (2012-2019), President and Chief Operating Officer (2011-2012) and Executive Vice President and Chief Financial Officer (2010-2011) of Alliant Energy Corporation. Ms. Kampling currently serves as a member of the Board, Finance Committee and Governance, Compensation and Nominating Committee of Xcel Energy Inc. (utilities company, 2020-present) and as a member of the Board, Audit, Finance and Risk Committee and Safety, Environmental, Technology and Operations Committee and Chair of the Executive Development and Compensation Committee of American Water Works Company, Inc. (utilities company, 2019-present). In addition, Ms. Kampling currently serves as a member of the Board of the Nature Conservancy, Wisconsin Chapter (2019-present). Previously, Ms. Kampling served as a Member of the Advisory Board of certain Fidelity® funds (2020), a member of the Board, Compensation Committee and Executive Committee and Chair of the Audit Committee of Briggs & Stratton Corporation (manufacturing, 2011-2021), a member of the Board of Interstate Power and Light Company (2012-2019) and Wisconsin Power and Light Company (2012-2019) (each a subsidiary of Alliant Energy Corporation) and as a member of the Board and Workforce Development Committee of the Business Roundtable (2018-2019).

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Mr. Kennedy also serves as Trustee of other Fidelity® funds. Previously, Mr. Kennedy served as a Member of the Advisory Board of certain Fidelity® funds (2020) and held a variety of positions at Raytheon Company (aerospace and defense, 1983-2020), including Chairman and Chief Executive Officer (2014-2020) and Executive Vice President and Chief Operating Officer (2013-2014). Mr. Kennedy served as Executive Chairman of the Board of Directors of Raytheon Technologies Corporation (aerospace and defense, 2020-2021). Mr. Kennedy serves as a Director of the Board of Directors of Textron Inc. (aerospace and defense, 2023-present).

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

Mr. Munoz also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Munoz served as Executive Chairman (2020-2021), Chief Executive Officer (2015-2020), President (2015-2016) and a member of the Board (2010-2021) of United Airlines Holdings, Inc. Mr. Munoz currently serves as a member of the Board of CBRE Group, Inc. (commercial real estate, 2020-present), a member of the Board of Univision Communications, Inc. (Hispanic media, 2020-present), a member of the Board of Archer Aviation Inc. (2021-present), a member of the Defense Business Board of the United States Department of Defense (2021-present) and a member of the Board of Salesforce.com, Inc. (cloud-based software, 2022-present). Previously, Mr. Munoz served as a Member of the Advisory Board of certain Fidelity® funds (2021).

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Mr. Thomas also serves as Trustee of other Fidelity® funds. Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions). Mr. Thomas currently serves as a member of the Board of Fortune Brands Home and Security (home and security products, 2004-present) and as Director (2013-present) and Non-Executive Chairman of the Board (2022-present) of Interpublic Group of Companies, Inc. (marketing communication).

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Ms. Tomasky also serves as Trustee of other Fidelity® funds. Prior to her retirement, Ms. Tomasky served in various executive officer positions at American Electric Power Company, Inc. (1998-2011), including most recently as President of AEP Transmission (2007-2011). Ms. Tomasky currently serves as a member of the Board and Sustainability Committee and as Chair of the Audit Committee of Marathon Petroleum Corporation (2018-present) and as a member of the Board, Executive Committee, Corporate Governance Committee and Organization and Compensation Committee and as Lead Director of the Board of Public Service Enterprise Group, Inc. (utilities company, 2012-present) and as a member of the Board of its subsidiary company, Public Service Electric and Gas Co. (2021-present). In addition, Ms. Tomasky currently serves as a member (2009-present) and President (2020-present) of the Board of the Royal Shakespeare Company - America (2009-present), as a member of the Board of the Columbus Association for the Performing Arts (2011-present) and as a member of the Board and Kenyon in the World Committee of Kenyon College (2016-present). Previously, Ms. Tomasky served as a Member of the Advisory Board of certain Fidelity® funds (2020), as a member of the Board of the Columbus Regional Airport Authority (2007-2020), as a member of the Board (2011-2018) and Lead Independent Director (2015-2018) of Andeavor Corporation (previously Tesoro Corporation) (independent oil refiner and marketer) and as a member of the Board of Summit Midstream Partners LP (energy, 2012-2018).

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Mr. Wiley also serves as Trustee of other Fidelity® funds. Previously, Mr. Wiley served as a member of the Advisory Board of certain Fidelity® funds (2018-2020), Chairman, President and CEO of Baker Hughes, Inc. (oilfield services, 2000-2004). Mr. Wiley also previously served as a member of the Board of Andeavor Corporation (independent oil refiner and marketer, 2005-2018), a member of the Board of Andeavor Logistics LP (natural resources logistics, 2015-2018) and a member of the Board of High Point Resources (exploration and production, 2005-2020).

Advisory Board Members and Officers:

Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235. Correspondence intended for an officer or Peter S. Lynch may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210. Officers appear below in alphabetical order.

Name, Year of Birth; Principal Occupation

Vijay C. Advani (1960)

Year of Election or Appointment: 2023

Member of the Advisory Board

Mr. Advani also serves as Trustee or Member of the Advisory Board of other funds. Previously, Mr. Advani served as Executive Chairman (2020-2022), Chief Executive Officer (2017-2020) and Chief Operating Officer (2016-2017) of Nuveen (global investment manager). He also served in various capacities at Franklin Resources (global investment manager), including Co-President (2015-2016), Executive Vice President, Global Advisory Services (2008-2015), Head of Global Retail Distribution (2005-2008), Executive Managing Director, International Retail Development (2002-2005), Managing Director, Product Developments, Sales & Marketing, Asia, Eastern Europe and Africa (2000-2002) and President, Templeton Asset Management India (1995-2000). Mr. Advani also served as Senior Investment Officer of International Finance Corporation (private equity and venture capital arm of The World Bank, 1984-1995). Mr. Advani is Chairman Emeritus of the U.S. India Business Council (2018-present), a Director of The Global Impact Investing Network (2019-present), a Director of LOK Capital (Mauritius) (2022-present), a member of the Advisory Council of LOK Capital (2022-present), a Senior Advisor of Neuberger Berman (2021-present), a Senior Advisor of Seviora Holdings Pte. Ltd (Temasek-Singapore) (2021-present), a Director of Seviora Capital (Singapore) (2021-present) and an Advisor of EQUIAM (2021-present). Mr. Advani formerly served as a member of the Board of BowX Acquisition Corp. (special purpose acquisition company, 2020-2021), a member of the Board of Intellecap (advisory arm of The Aavishkaar Group, 2018-2020), a member of the Board of Nuveen Investments, Inc. (2017-2020) and a member of the Board of Docusign (software, 2016-2019).

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Mr. Lynch also serves as a Member of the Advisory Board of other Fidelity® funds. Mr. Lynch is Vice Chairman and a Director of Fidelity Management & Research Company LLC (investment adviser firm). In addition, Mr. Lynch serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund. Previously, Mr. Lynch served as Vice Chairman and a Director of FMR Co., Inc. (investment adviser firm) and on the Special Olympics International Board of Directors (1997-2006).

Karen B. Peetz (1955)

Year of Election or Appointment: 2023

Member of the Advisory Board

Ms. Peetz also serves as a Member of the Advisory Board of other funds. Previously, Ms. Peetz served as Chief Administration Officer (2020-2023) of Citigroup Inc. (a diversified financial service company). She also served in various capacities at Bank of New York Mellon Corporation, including President (2013-2016), Vice Chairman, Senior Executive Vice President and Chief Executive Officer of Financial Markets & Treasury Services (2010-2013), Senior Executive Vice President and Chief Executive Officer of Global Corporate Trust (2003-2008), Senior Vice President and Division Manager of Global Payments & Trade Services (2002-2003) and Senior Vice President and Division Manager of Domestic Corporate Trust (1998-2002). Ms. Peetz also served in various capacities at Chase Manhattan Corporation (1982-1998), including Senior Vice President and Manager of Corporate Trust International Business (1996-1998), Managing Director and Manager of Corporate Trust Services (1994-1996) and Managing Director and Group Manager of Financial Institution Sales (1990-1993). Ms. Peetz currently serves as Chair of Amherst Holdings Advisory Council (2018-present), Trustee of Johns Hopkins University (2016-present), Chair of the Carey Business School Advisory Council, Member of the Johns Hopkins Medicine Board and Finance Committee and Chair of the Lyme and Tick Related Disease Institute Advisory Council. Ms. Peetz previously served as a member of the Board of Guardian Life Insurance Company of America (2019-2023), a member of the Board of Trane Technologies (2018-2022), a member of the Board of Wells Fargo Corp. (2017-2019), a member of the Board of SunCoke Energy Inc. (2012-2016), a member of the Board of Private Export Funding Corporation (2010-2016) and as a Trustee of Penn State University (2010-2014) and the United Way of New York City (2008-2010).

Heather Bonner (1977)

Year of Election or Appointment: 2023

Assistant Treasurer

Ms. Bonner also serves as an officer of other funds. Ms. Bonner serves as Senior Vice President (2022-present), and is an employee of Fidelity Investments. Ms. Bonner serves as Assistant Treasurer of Fidelity CRET Trustee LLC (2022-present). Prior to joining Fidelity, Ms. Bonner served as Managing Director at AQR Capital Management (2013-2022) and was the Treasurer and Principal Financial Officer of the AQR Funds (2013-2022).

Craig S. Brown (1977)

Year of Election or Appointment: 2022

Deputy Treasurer

Mr. Brown also serves as an officer of other funds. Mr. Brown serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2013-present). Previously, Mr. Brown served as Assistant Treasurer of certain Fidelity® funds (2019-2022).

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).

Margaret Carey (1973)

Year of Election or Appointment: 2023

Secretary and Chief Legal Officer (CLO)

Ms. Carey also serves as an officer of other funds and as CLO of certain other Fidelity entities. She is a Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2019-present), and is an employee of Fidelity Investments.

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Mr. Coffey also serves as Assistant Secretary of other funds. He is Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2010-present), and is an employee of Fidelity Investments. Previously, Mr. Coffey served as Secretary and CLO of certain funds (2018-2019); CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2018-2019); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2018-2019); CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2018-2019); and Assistant Secretary of certain funds (2009-2018).

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Mr. Cohen also serves as Vice President of other funds. Mr. Cohen serves as Co-Head of Equity (2018-present), a Director of Fidelity Management & Research (Japan) Limited (investment adviser firm, 2016-present), and is an employee of Fidelity Investments. Previously, Mr. Cohen served as Executive Vice President of Fidelity SelectCo, LLC (2019), Head of Global Equity Research (2016-2018), Chief Investment Officer - Equity and a Director of Fidelity Management & Research (U.K.) Inc. (investment adviser firm, 2013-2015) and as a Director of Fidelity Management & Research (Hong Kong) Limited (investment adviser firm, 2017).

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Davis also serves as an officer of other funds. Mr. Davis serves as Vice President Assistant Treasurer and is an employee of Fidelity Investments. Mr. Davis serves as Assistant Treasurer of certain Fidelity entities.

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2017-present). Previously, Ms. Del Prato served as President and Treasurer of The North Carolina Capital Management Trust: Cash Portfolio and Term Portfolio (2018-2020). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FIMM, LLC (2021-present) and FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Deputy Treasurer of certain Fidelity® funds (2016-2020) and Assistant Treasurer of certain Fidelity® funds (2016-2018).

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Ms. Holding also serves as Vice President of other funds. Ms. Holding serves as Co-Head of Equity (2018-present) and is an employee of Fidelity Investments (2013-present). Previously, Ms. Holding served as Executive Vice President of Fidelity SelectCo, LLC (2019) and as Chief Investment Officer of Fidelity Institutional Asset Management (2013-2018).

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Mr. Maher also serves as an officer of other funds. Mr. Maher serves as Assistant Treasurer of FIMM, LLC (2021-present) and FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Maher served as Assistant Treasurer of certain funds (2013-2020); Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Mr. Pogorelec also serves as Chief Compliance Officer of other funds. Mr. Pogorelec is a Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments. Mr. Pogorelec serves as Compliance Officer of Fidelity Management & Research Company LLC (investment adviser firm, 2023-present). Previously, Mr. Pogorelec served as Vice President, Associate General Counsel for Fidelity Investments (2010-2020) and Assistant Secretary of certain Fidelity® funds (2015-2020).

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Mr. Segaloff also serves as an AML Officer of other funds and other related entities. He is Director, Anti-Money Laundering (2007-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments (1996-present).

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of certain Fidelity entities, is an employee of Fidelity Investments, and has served in other fund officer roles.

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Mr. Wegmann also serves as an officer of other funds. Mr. Wegmann serves as Assistant Treasurer of FIMM, LLC (2021-present) and is an employee of Fidelity Investments (2011-present). Previously, Mr. Wegmann served as Assistant Treasurer of certain Fidelity® funds (2019-2021).

Shareholder Expense Example

As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2023 to August 31, 2023).

Actual Expenses

The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.

Hypothetical Example for Comparison Purposes

The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Annualized Expense Ratio- A	Beginning Account Value March 1, 2023	Ending Account Value August 31, 2023	Expenses Paid During Period- C March 1, 2023 to August 31, 2023
Fidelity® Puritan® Fund
Fidelity® Puritan® Fund	.50%
Actual		$ 1,000	$ 1,108.40	$ 2.66
Hypothetical-B		$ 1,000	$ 1,022.68	$ 2.55
Class K	.42%
Actual		$ 1,000	$ 1,109.00	$ 2.23
Hypothetical-B		$ 1,000	$ 1,023.09	$ 2.14

A Annualized expense ratio reflects expenses net of applicable fee waivers.

B 5% return per year before expenses

C Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.

Distributions (Unaudited)

The dividend and capital gains distributions for the fund(s) are available on Fidelity.com or Institutional.Fidelity.com.

The fund hereby designates as a capital gain dividend with respect to the taxable year ended August 31, 2023, $886,714,874, or, if subsequently determined to be different, the net capital gain of such year.

A total of 13.91% of the dividends distributed during the fiscal year was derived from interest on U.S. Government securities which is generally exempt from state income tax.

The fund designates $216,907,640 of distributions paid in the calendar year in 2022 as qualifying to be taxed as interest-related dividends for nonresident alien shareholders.

The fund designates $212,784,842 of distributions paid during the fiscal year ended 2023 as qualifying to be taxed as section 163(j) interest dividends.

Puritan designates 25%, 40%, 40%, and 40% and Class K designates 24%, 38%, 38%, and 38% of the dividends distributed in October, December, April, and July, respectively during the fiscal year as qualifying for the dividends-received deduction for corporate shareholders.

Puritan designates 27.11%, 42.91%, 46.96%, and 46.95% and Class K designates 25.97%, 40.68%, 45.00%, and 45.05% of dividends distributed in October, December, April, and July, respectively during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

Puritan designates 0.41%, and 0.64% and Class K designates 0.39% and 0.61% of the dividends distributed in October and December, respectively during the fiscal year as a section 199A dividend.

The fund will notify shareholders in January 2024 of amounts for use in preparing 2023 income tax returns.

Board Approval of Investment Advisory Contracts

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Puritan Fund

Each year, the Board of Trustees, including the Independent Trustees (together, the Board), considers the renewal of the fund's management contract with Fidelity Management & Research Company LLC (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund. FMR and the sub-advisers are referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, requests and considers a broad range of information relevant to the renewal of the Advisory Contracts throughout the year.

The Board meets regularly and, at each of its meetings, covers an extensive agenda of topics and materials and considers factors that are relevant to its annual consideration of the renewal of the fund's Advisory Contracts, including the services and support provided to the fund and its shareholders. The Board, acting directly and through its Committees (each of which is composed of and chaired by Independent Trustees), requests and receives information concerning the annual consideration of the renewal of the fund's Advisory Contracts. The Board also meets as needed to review matters specifically related to the Board's annual consideration of the renewal of the Advisory Contracts. Members of the Board may also meet with trustees of other Fidelity funds through joint ad hoc committees to discuss certain matters relevant to all of the Fidelity funds.

Approval of Stub Period Continuation. At its May 2023 meeting, the Board of Trustees voted to continue the fund's management contract with FMR, and the sub-advisory agreements and sub-sub-advisory agreements, in each case, where applicable (together, the Advisory Contracts), without modification, for two months from June 1, 2023 through July 31, 2023. The Board considered that the approval of the fund's Advisory Contracts will not result in any changes in (i) the investment process or strategies employed in the management of the fund's assets; (ii) the fees and expenses paid by shareholders; (iii) the nature, extent or quality of services provided under the fund's Advisory Contracts; or (iv) the day-to-day management of the fund or the persons primarily responsible for such management. The Board also considered that since its last approval of the fund's Advisory Contracts, FMR had provided additional information on the fund in support of the annual contract renewal process, including competitive analyses on total expenses and management fees and in-depth reviews of fund performance and fund profitability information. The Board concluded that the fund's Advisory Contracts are fair and reasonable, and that the fund's Advisory Contracts should be renewed, without modification, through July 31, 2023, with the understanding that the Board would consider the annual renewal for a full one year period in July 2023.

At its July 2023 meeting, the Board unanimously determined to renew the fund's Advisory Contracts. In reaching its determination, the Board considered all factors it believed relevant, including (i) the nature, extent, and quality of the services provided to the fund and its shareholders (including the investment performance of the fund); (ii) the competitiveness relative to peer funds of the fund's management fee and the total expense ratio of a representative class (the retail class, which was selected because it is the largest class); (iii) the total costs of the services provided by and the profits realized by FMR and its affiliates (Fidelity) from its relationships with the fund; and (iv) the extent to which, if any, economies of scale exist and are realized as the fund grows, and whether any economies of scale are appropriately shared with fund shareholders. The Board also considered the broad range of investment choices available to shareholders from FMR's competitors and that the fund's shareholders have chosen to invest in the fund, which is part of the Fidelity family of funds. The Board's decision to renew the Advisory Contracts was not based on any single factor.

The Board reached a determination, with the assistance of fund counsel and Independent Trustees' counsel and through the exercise of its business judgment, that the renewal of the Advisory Contracts was in the best interests of the fund and its shareholders and that the compensation payable under the Advisory Contracts was fair and reasonable in light of all of the surrounding circumstances.

Nature, Extent, and Quality of Services Provided. The Board considered staffing as it relates to the fund, including the backgrounds and experience of investment personnel of the Investment Advisers, and also considered the Investment Advisers' implementation of the fund's investment program. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Resources Dedicated to Investment Management and Support Services. The Board and the Fund Oversight and Research Committees reviewed the general qualifications and capabilities of Fidelity's investment staff, including its size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted the resources devoted to expansion of Fidelity's global investment organization, and that Fidelity's analysts have extensive resources, tools, and capabilities that allow them to conduct sophisticated quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties, and guarantors. Further, the Board considered that Fidelity's investment professionals have sufficient access to global information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously, as well as to transmit new information and research conclusions rapidly around the world. Additionally, in its deliberations, the Board considered Fidelity's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process.

Shareholder and Administrative Services. The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by the Investment Advisers and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for the fund; (ii) the nature and extent of Fidelity's supervision of third party service providers, principally custodians, subcustodians, and pricing vendors; and (iii) the resources devoted by Fidelity to, and the record of compliance with, the fund's compliance policies and procedures. The Board also reviewed the allocation of fund brokerage, including allocations to brokers affiliated with the Investment Advisers, the use of brokerage commissions to pay fund expenses, and the use of "soft" commission dollars to pay for research services. The Board also considered the fund's securities lending activities and any payments made to Fidelity relating to securities lending.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value and convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information over the Internet and through telephone representatives, investor education materials, and asset allocation tools. The Board also considered that it reviews customer service metrics such as telephone response times, continuity of services on the website and metrics addressing services at Fidelity Investor Centers.

Investment in a Large Fund Family. The Board considered the benefits to shareholders of investing in a fund that is part of a large family of funds offering a variety of investment disciplines and providing a large variety of fund investor services. The Board noted that Fidelity had taken, or had made recommendations that resulted in the Fidelity funds taking, a number of actions over the previous year that benefited particular funds and/or the Fidelity funds in general.

Investment Performance. The Board took into account discussions that occur with representatives of the Investment Advisers, and reports that it receives, at Board meetings throughout the year, relating to fund investment performance. In this regard the Board noted that as part of regularly scheduled fund reviews and other reports to the Board on fund performance, the Board considered annualized return information for the fund for different time periods, measured against an appropriate securities market index (benchmark index) and an appropriate peer group of funds with similar objectives (peer group). The Board also considered information about performance attribution. In its ongoing evaluation of fund investment performance, the Board gives particular attention to information indicating changes in performance of the funds over different time periods and discussed with the Investment Advisers the reasons for any overperformance or underperformance.

In addition to reviewing absolute and relative fund performance, the Independent Trustees periodically consider the appropriateness of fund performance metrics in evaluating the results achieved. The Independent Trustees generally give greater weight to fund performance over longer time periods than over shorter time periods. Depending on the circumstances, the Independent Trustees may be satisfied with a fund's performance notwithstanding that it lags its benchmark index or peer group for certain periods.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

Competitiveness of Management Fee and Total Expense Ratio. The Board was provided with information regarding industry trends in management fees and expenses. In its review of the fund's management fee and the total expense ratio of the retail class, the Board considered the fund's management fee rate as well as other fund or class expenses, as applicable, such as transfer agent fees, pricing and bookkeeping fees, and custodial, legal, and audit fees. The Board noted that Fidelity may agree to waive fees or reimburse expenses from time to time, and the extent to which, if any, it has done so for the fund.

Comparisons of Management Fees and Total Expense Ratios. Among other things, the Board reviewed data for selected groups of competitive funds and classes (referred to as "mapped groups") that were compiled by Fidelity based on combining similar investment objective categories (as classified by Lipper) that have comparable investment mandates. The data reviewed by the Board included (i) gross management fee comparisons (before taking into account expense reimbursements or caps) relative to the total universe of funds within the mapped group; (ii) gross management fee comparisons relative to a subset of non-Fidelity funds in the mapped group that are similar in size and management fee structure to the fund (referred to as the "asset size peer group"); (iii) total expense comparisons of the retail class of the fund relative to funds and classes in the mapped group that have a similar sales load structure to the retail class of the fund (referred to as the "similar sales load structure group"); and (iv) total expense comparisons of the retail class of the fund relative to funds and classes in the similar sales load structure group that are similar in size and management fee structure to the fund (referred to as the "total expense asset size peer group"). The total expense asset size peer group comparison excludes performance adjustments and fund-paid 12b-1 fees to eliminate variability in fee structures.

The information provided to the Board indicated that the fund's management fee rate ranked below the competitive median of the mapped group for the 12-month period ended September 30, 2022 and below the competitive median of the asset size peer group for the 12-month period ended September 30, 2022. Further, the information provided to the Board indicated that the total expense ratio of the retail class of the fund ranked below the competitive median of the similar sales load structure group for the 12-month period ended September 30, 2022 and below the competitive median of the total expense asset size peer group for the 12-month period ended September 30, 2022.

The Board also considered that, for funds subject to the group fee, FMR agreed to voluntarily waive fees over a specified period of time in amounts designed to account for assets converted from certain funds to certain collective investment trusts.

Fees Charged to Other Fidelity Clients. The Board also considered Fidelity fee structures and other information with respect to clients of Fidelity, such as other funds advised or subadvised by Fidelity, pension plan clients, and other institutional clients with similar mandates. The Board noted that a joint ad hoc committee created by it and the boards of other Fidelity funds periodically reviews and compares Fidelity's institutional investment advisory business with its business of providing services to the Fidelity funds and also noted the most recent findings of the committee. The Board noted that the committee's review included a consideration of the differences in services provided, fees charged, and costs incurred, as well as competition in the markets serving the different categories of clients.

Based on its review, the Board concluded that the fund's management fee is fair and reasonable in light of the services that the fund receives and the other factors considered. Further, based on its review of total expense ratios and fees charged to other Fidelity clients, the Board concluded that the total expense ratio of each class of the fund was reasonable in light of the services that the fund and its shareholders receive and the other factors considered.

Costs of the Services and Profitability. The Board considered the revenues earned and the expenses incurred by Fidelity in conducting the business of developing, marketing, distributing, managing, administering and servicing the fund and servicing the fund's shareholders. The Board also considered the level of Fidelity's profits in respect of all the Fidelity funds.

On an annual basis, Fidelity presents to the Board information about the profitability of its relationships with the fund. Fidelity calculates profitability information for each fund, as well as aggregate profitability information for groups of Fidelity funds and all Fidelity funds, using a series of detailed revenue and cost allocation methodologies which originate with the books and records of Fidelity on which Fidelity's audited financial statements are based. The Audit Committee of the Board reviews any significant changes from the prior year's methodologies and the full Board approves such changes.

A public accounting firm has been engaged annually by the Board as part of the Board's assessment of Fidelity's profitability analysis. The engagement includes the review and assessment of the methodologies used by Fidelity in determining the revenues and expenses attributable to Fidelity's fund business, and completion of agreed-upon procedures in respect of the mathematical accuracy of certain fund profitability information and its conformity to established allocation methodologies. After considering the reports issued under the engagement and information provided by Fidelity, the Board concluded that while other allocation methods may also be reasonable, Fidelity's profitability methodologies are reasonable in all material respects.

The Board also reviewed Fidelity's non-fund businesses and potential indirect benefits such businesses may have received as a result of their association with Fidelity's fund business (i.e., fall-out benefits) as well as cases where Fidelity's affiliates may benefit from the funds' business. The Board considered areas where potential indirect benefits to the Fidelity funds from their relationships with Fidelity may exist. The Board's consideration of these matters was informed by the findings of a joint ad hoc committee created by it and the boards of other Fidelity funds to evaluate potential fall-out benefits.

The Board considered the costs of the services provided by and the profits realized by Fidelity in connection with the operation of the fund and was satisfied that the profitability was not excessive.

Economies of Scale. The Board considered whether there have been economies of scale in respect of the management of the Fidelity funds, whether the Fidelity funds (including the fund) have appropriately benefited from any such economies of scale, and whether there is potential for realization of any further economies of scale. The Board considered the extent to which the fund will benefit from economies of scale as assets grow through increased services to the fund, through waivers or reimbursements, or through fee or expense ratio reductions. The Board also noted that a committee (the Economies of Scale Committee) created by it and the boards of other Fidelity funds periodically analyzes whether Fidelity attains economies of scale in respect of the management and servicing of the Fidelity funds, whether the Fidelity funds have appropriately benefited from such economies of scale, and whether there is potential for realization of any further economies of scale.

The Board recognized that the fund's management contract incorporates a "group fee" structure, which provides for lower group fee rates as total "group assets" increase, and for higher group fee rates as total "group assets" decrease ("group assets" as defined in the management contract). FMR calculates the group fee rates based on a tiered asset "breakpoint" schedule that varies based on asset class. The Board considered that the group fee is designed to deliver the benefits of economies of scale to fund shareholders when total Fidelity fund assets increase, even if assets of any particular fund are unchanged or have declined, because some portion of Fidelity's costs are attributable to services provided to all Fidelity funds, and all funds benefit if those costs can be allocated among more assets. The Board further considered that Fidelity agreed to impose a temporary fee waiver in the form of additional breakpoints to the current breakpoint schedule. The Board concluded that, given the group fee structure, fund shareholders will benefit from lower management fees as "group assets" increase at the fund complex level, regardless of whether Fidelity achieves any such economies of scale.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

Additional Information Requested by the Board. In order to develop fully the factual basis for consideration of the Fidelity funds' advisory contracts, the Board requested and received additional information on certain topics, including: (i) fund flow and performance trends, in particular the underperformance of certain funds and strategies, and Fidelity's long-term strategies for certain funds, including any consideration of fund liquidations or mergers; (ii) the operation of performance fees and competitor use of performance fees; (iii) Fidelity's pricing philosophy compared to competitors; (iv) fund profitability methodology and data; (v) evaluation of competitive fund data and peer group classifications and fee and expense comparisons; (vi) the management fee and expense structures for different funds and classes and information about the differences between various fee and expense structures; (vii) group fee breakpoints and related voluntary fee waivers; and (viii) information regarding other accounts managed by Fidelity and the funds' sub-advisory arrangements.

Conclusion. Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board, including the Independent Trustees, concluded that the advisory and sub-advisory fee arrangements are fair and reasonable in light of all of the surrounding circumstances and that the fund's Advisory Contracts should be renewed through July 31, 2024.

1.536193.127

PUR-ANN-1023

Fidelity® Balanced Fund

Annual Report

August 31, 2023

Contents

Performance

Management's Discussion of Fund Performance

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Board Approval of Investment Advisory Contracts

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Performance: The Bottom Line

Average Annual Total Returns

Periods ended August 31, 2023	Past 1 year	Past 5 years	Past 10 years
Fidelity® Balanced Fund	11.60%	8.64%	9.53%
Class K	11.72%	8.74%	9.63%

$10,000 Over 10 Years

Let's say hypothetically that $10,000 was invested in Fidelity® Balanced Fund, a class of the fund, on August 31, 2013.

The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.

Management's Discussion of Fund Performance

Market Recap:

Comments from Co-Portfolio Manager Christopher Lee:

For the fiscal year, the fund's share classes gained about 12%, topping the 9.04% advance of the Fidelity Balanced Hybrid Composite Index. Versus the Composite index, security selection in the equity subportfolio contributed most. The fund's stock investments returned 19.99% the past 12 months, versus 15.94% for the S&P 500®. Stock picks particularly helped in the industrials sector, with consumer discretionary and energy contributing to a lesser extent. Notably, active management added value in all sectors but one. The top relative contributor among individual holdings was Nvidia, where the portfolio's overweight position rose 226% the past 12 months. Nvidia was one of our biggest holdings on August 31. An overweight in Eli Lilly also aided relative performance, gaining 85%. Lilly was also a major holding at period end. Further bolstering the equity subportfolio's relative result was an overweight stake in Meta Platforms (+81%), a major holding as well. On the flip side, the financials sector detracted a bit this period. At the stock level, avoiding Broadcom, a Composite index component that rose about 90%, detracted the most on a relative basis. Non-Composite exposure to Royalty Pharma (-27%) also hurt. The investment-grade bond central fund returned -0.38%, outpacing the -1.19% result of the Bloomberg U.S. Aggregate Bond Index. The central fund benefited from its overweight in credit, especially lower-rated corporate bonds, which continued to gain in the economy's post-COVID recovery, while favorable supply/demand trends and low issuer default rates resulted in tighter corporate-bond spreads. Other beneficial factors included exposure to AAA-rated collateralized loan obligations and an underweight in the lagging mortgage debt category.

Notes to shareholders:

After nearly four decades with Fidelity, Robert Stansky retired on December 31, 2022, and Chris Lee assumed Stansky's responsibilities for the fund. On January 1, 2023, Jody Simes retired after nearly 30 years with Fidelity, and Ashley Fernandes assumed sole responsibility for management of the equity subportfolio's materials sleeve.

Investment Summary August 31, 2023 (Unaudited)

The information in the following tables is based on the combined Investments of the Fund and its pro-rata share of investments in Fidelity's Central Funds, other than the Money Market Central Funds.

Top Holdings (% of Fund's net assets)

Microsoft Corp.	4.7
Apple, Inc.	3.8
Amazon.com, Inc.	2.5
NVIDIA Corp.	2.3
Alphabet, Inc. Class A	1.6
Meta Platforms, Inc. Class A	1.3
Exxon Mobil Corp.	1.2
UnitedHealth Group, Inc.	1.2
Eli Lilly & Co.	1.1
Tesla, Inc.	1.0
	20.7

Top Bond Issuers (% of Fund's net assets)
(with maturities greater than one year)
U.S. Treasury Obligations	13.7
Fannie Mae	2.6
Freddie Mac	2.4
Ginnie Mae	1.4
Uniform Mortgage Backed Securities	1.1
JPMorgan Chase & Co.	0.7
Morgan Stanley	0.5
Citigroup, Inc.	0.5
Bank of America Corp.	0.3
Petroleos Mexicanos	0.2
	23.4

Market Sectors (% of Fund's net assets)

Information Technology	16.8
Financials	12.8
Health Care	8.8
Consumer Discretionary	6.9
Communication Services	6.3
Industrials	5.8
Consumer Staples	4.8
Energy	3.8
Real Estate	2.5
Utilities	1.9
Materials	1.6

Quality Diversification (% of Fund's net assets)

We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes.

Asset Allocation (% of Fund's net assets)

Futures and Swaps - 1.7%

Percentages in the above tables are adjusted for the effect of TBA Sale Commitments.

Schedule of Investments August 31, 2023

Showing Percentage of Net Assets

Common Stocks - 61.5%
	Shares	Value ($) (000s)
COMMUNICATION SERVICES - 5.4%
Diversified Telecommunication Services - 0.4%
AT&T, Inc.	8,167,840	120,802
Cellnex Telecom SA (a)	398,400	15,250
Liberty Global PLC Class C (b)	571,729	11,343
		147,395
Entertainment - 0.8%
Cinemark Holdings, Inc. (b)(c)	655,287	10,668
Netflix, Inc. (b)	398,877	172,985
Sea Ltd. ADR (b)	1,020,946	38,418
Take-Two Interactive Software, Inc. (b)	238,937	33,977
The Walt Disney Co. (b)	736,529	61,633
World Wrestling Entertainment, Inc. Class A (c)	192,779	18,613
		336,294
Interactive Media & Services - 3.5%
Alphabet, Inc.:
Class A (b)	4,832,669	658,065
Class C (b)	1,512,118	207,689
Epic Games, Inc. (b)(d)(e)	12,272	7,643
Meta Platforms, Inc. Class A (b)	1,781,209	527,042
Pinterest, Inc. Class A (b)	554,540	15,244
Snap, Inc. Class A (b)	3,368,610	34,865
		1,450,548
Media - 0.5%
Altice U.S.A., Inc. Class A (b)	897,635	2,756
Charter Communications, Inc. Class A (b)	87,694	38,420
Comcast Corp. Class A	1,750,000	81,830
Liberty Broadband Corp.:
Class A (b)	513,718	48,105
Class C (b)(c)	273,537	25,592
		196,703
Wireless Telecommunication Services - 0.2%
T-Mobile U.S., Inc. (b)	603,608	82,242
TOTAL COMMUNICATION SERVICES		2,213,182
CONSUMER DISCRETIONARY - 6.6%
Automobile Components - 0.1%
Adient PLC (b)	699,915	27,416
Automobiles - 1.1%
Ferrari NV	84,361	26,805
Tesla, Inc. (b)	1,595,474	411,760
		438,565
Broadline Retail - 2.6%
Amazon.com, Inc. (b)	7,355,489	1,015,131
eBay, Inc.	1,138,456	50,980
		1,066,111
Hotels, Restaurants & Leisure - 1.2%
Booking Holdings, Inc. (b)	38,508	119,568
Caesars Entertainment, Inc. (b)	571,600	31,587
Churchill Downs, Inc.	406,853	50,971
Domino's Pizza, Inc.	101,422	39,291
Marriott International, Inc. Class A	555,023	112,953
McDonald's Corp.	256,683	72,166
Penn Entertainment, Inc. (b)	254,626	6,032
Red Rock Resorts, Inc.	164,100	7,209
Sweetgreen, Inc. Class A (b)	72,846	1,046
Yum! Brands, Inc.	546,028	70,645
		511,468
Household Durables - 0.0%
D.R. Horton, Inc.	17,701	2,107
Mohawk Industries, Inc. (b)	179,822	18,232
		20,339
Specialty Retail - 1.3%
Cazoo Group Ltd. (b)(d)	19,377	22
Fast Retailing Co. Ltd.	82,428	18,968
Lowe's Companies, Inc.	780,073	179,791
The Home Depot, Inc.	359,648	118,792
TJX Companies, Inc.	2,106,297	194,790
Valvoline, Inc.	728,661	25,095
		537,458
Textiles, Apparel & Luxury Goods - 0.3%
NIKE, Inc. Class B	490,942	49,934
PVH Corp.	378,554	31,647
Tapestry, Inc.	981,086	32,690
		114,271
TOTAL CONSUMER DISCRETIONARY		2,715,628
CONSUMER STAPLES - 4.2%
Beverages - 1.5%
Boston Beer Co., Inc. Class A (b)	45,983	16,804
Celsius Holdings, Inc. (b)	170,017	33,330
Constellation Brands, Inc. Class A (sub. vtg.)	272,173	70,917
Diageo PLC	243,330	9,965
Duckhorn Portfolio, Inc. (b)	627,767	7,809
Keurig Dr. Pepper, Inc.	1,187,927	39,974
Monster Beverage Corp.	1,223,507	70,242
PepsiCo, Inc.	957,359	170,333
Pernod Ricard SA	109,048	21,426
The Coca-Cola Co.	3,088,116	184,762
The Vita Coco Co., Inc. (b)	394,907	11,172
		636,734
Consumer Staples Distribution & Retail - 1.2%
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)	491,379	25,696
BJ's Wholesale Club Holdings, Inc. (b)	131,162	8,839
Costco Wholesale Corp.	334,666	183,825
Dollar General Corp.	113,489	15,718
Dollar Tree, Inc. (b)	203,829	24,941
Target Corp.	39,489	4,997
U.S. Foods Holding Corp. (b)	723,119	29,236
Walmart, Inc.	1,221,002	198,547
		491,799
Food Products - 0.5%
Freshpet, Inc. (b)(c)	226,377	17,094
Lamb Weston Holdings, Inc.	186,774	18,194
McCormick & Co., Inc. (non-vtg.)	346,145	28,412
Mondelez International, Inc.	1,317,418	93,879
The Hershey Co.	168,206	36,141
		193,720
Household Products - 0.8%
Colgate-Palmolive Co.	519,470	38,165
Energizer Holdings, Inc.	210,139	7,218
Procter & Gamble Co.	1,957,535	302,126
		347,509
Personal Care Products - 0.2%
elf Beauty, Inc. (b)	105,470	14,630
Estee Lauder Companies, Inc. Class A	216,417	34,741
Kenvue, Inc.	670,520	15,455
		64,826
TOTAL CONSUMER STAPLES		1,734,588
ENERGY - 2.8%
Energy Equipment & Services - 0.3%
Expro Group Holdings NV (b)	1,350,652	31,754
Schlumberger Ltd.	867,820	51,167
Weatherford International PLC (b)	517,427	45,803
		128,724
Oil, Gas & Consumable Fuels - 2.5%
Africa Oil Corp.	11,280,022	27,131
Athabasca Oil Corp. (b)	5,993,095	16,633
Canadian Natural Resources Ltd.	701,452	45,383
Eco Atlantic Oil & Gas Ltd. (b)	8,711,000	1,805
Exxon Mobil Corp.	4,529,221	503,604
Hess Corp.	698,350	107,895
Imperial Oil Ltd.	1,553,717	88,230
Kosmos Energy Ltd. (b)	3,812,970	27,758
MEG Energy Corp. (b)	3,799,699	67,968
Phillips 66 Co.	521,729	59,561
Valero Energy Corp.	562,343	73,048
		1,019,016
TOTAL ENERGY		1,147,740
FINANCIALS - 8.0%
Banks - 2.5%
AIB Group PLC	2,352,493	10,719
Bank of America Corp.	4,263,589	122,237
BNP Paribas SA	1,007,403	65,146
Citigroup, Inc.	639,618	26,410
DNB Bank ASA	1,027,993	20,320
Eurobank Ergasias Services and Holdings SA (b)	17,624,956	30,636
JPMorgan Chase & Co.	2,477,560	362,541
KBC Group NV	177,684	11,668
KeyCorp	3,878,578	43,944
M&T Bank Corp.	212,484	26,571
Piraeus Financial Holdings SA (b)	5,393,594	18,669
PNC Financial Services Group, Inc.	422,996	51,068
Starling Bank Ltd. Series D (b)(d)(e)	5,092,112	20,900
UniCredit SpA	647,371	15,772
Wells Fargo & Co.	4,670,866	192,860
Zions Bancorp NA	266,487	9,460
		1,028,921
Capital Markets - 1.4%
Bank of New York Mellon Corp.	1,309,781	58,770
BlackRock, Inc. Class A	136,429	95,574
Brookfield Corp. Class A	556,465	18,981
Cboe Global Markets, Inc.	175,461	26,268
CME Group, Inc.	299,012	60,604
Interactive Brokers Group, Inc.	345,098	31,432
MarketAxess Holdings, Inc.	128,300	30,911
Morgan Stanley	1,417,533	120,703
State Street Corp.	548,510	37,705
StepStone Group, Inc. Class A	576,556	17,798
UBS Group AG	2,391,810	63,885
Virtu Financial, Inc. Class A	561,600	10,524
		573,155
Consumer Finance - 0.1%
OneMain Holdings, Inc.	695,793	28,882
Shriram Transport Finance Co. Ltd.	579,403	13,508
		42,390
Financial Services - 2.3%
Apollo Global Management, Inc.	1,093,819	95,534
Berkshire Hathaway, Inc.:
Class A (b)	79	43,191
Class B (b)	129,828	46,764
Block, Inc. Class A (b)	857,409	49,430
Dlocal Ltd. (b)	1,250,094	26,802
Fiserv, Inc. (b)	752,309	91,323
FleetCor Technologies, Inc. (b)	117,185	31,843
Global Payments, Inc.	492,575	62,404
Jumo World Ltd. (b)(e)	1,163	1,042
One97 Communications Ltd. (b)	3,304,900	34,120
UWM Holdings Corp. Class A (c)	1,129,641	6,733
Visa, Inc. Class A	1,609,166	395,340
Voya Financial, Inc.	265,724	18,516
Worldline SA (a)(b)	570,002	18,592
		921,634
Insurance - 1.7%
Arthur J. Gallagher & Co.	401,716	92,588
Chubb Ltd.	547,070	109,890
Direct Line Insurance Group PLC	9,138,809	18,772
Everest Re Group Ltd.	130,405	47,034
Fairfax Financial Holdings Ltd. (sub. vtg.)	49,361	40,706
Globe Life, Inc.	228,201	25,460
Hartford Financial Services Group, Inc.	861,530	61,875
Marsh & McLennan Companies, Inc.	532,997	103,929
Progressive Corp.	631,919	84,342
Prudential PLC	1,057,440	12,879
The Travelers Companies, Inc.	463,927	74,799
Unum Group	840,234	41,331
		713,605
TOTAL FINANCIALS		3,279,705
HEALTH CARE - 8.1%
Biotechnology - 1.4%
Biogen, Inc. (b)	147,220	39,361
Exact Sciences Corp. (b)	452,580	37,867
Gilead Sciences, Inc.	2,576,104	197,020
Legend Biotech Corp. ADR (b)	367,760	25,508
PTC Therapeutics, Inc. (b)	404,842	15,991
Regeneron Pharmaceuticals, Inc. (b)	60,147	49,711
Sarepta Therapeutics, Inc. (b)	128,656	15,569
Vertex Pharmaceuticals, Inc. (b)	554,726	193,233
		574,260
Health Care Equipment & Supplies - 1.7%
Abbott Laboratories	353,247	36,349
Boston Scientific Corp. (b)	5,048,770	272,331
Intuitive Surgical, Inc. (b)	397,273	124,219
Masimo Corp. (b)	81,200	9,280
Penumbra, Inc. (b)	176,052	46,566
PROCEPT BioRobotics Corp. (b)	156,259	5,330
Stryker Corp.	756,046	214,377
		708,452
Health Care Providers & Services - 2.3%
agilon health, Inc. (b)	1,815,720	32,175
Cencora, Inc.	909,087	159,981
Cigna Group	374,106	103,351
Humana, Inc.	148,536	68,569
Surgery Partners, Inc. (b)	2,880,648	104,452
UnitedHealth Group, Inc.	1,011,444	482,034
		950,562
Life Sciences Tools & Services - 0.6%
10X Genomics, Inc. (b)	409,881	21,252
Danaher Corp.	253,015	67,049
Gerresheimer AG	704,665	91,616
IQVIA Holdings, Inc. (b)	105,201	23,421
Thermo Fisher Scientific, Inc.	78,681	43,833
		247,171
Pharmaceuticals - 2.1%
AstraZeneca PLC sponsored ADR	2,048,253	138,913
Eli Lilly & Co.	791,922	438,883
Indivior PLC (b)	2,021,618	46,610
Merck & Co., Inc.	1,525,060	166,201
Royalty Pharma PLC	1,820,448	54,286
		844,893
TOTAL HEALTH CARE		3,325,338
INDUSTRIALS - 5.5%
Aerospace & Defense - 1.2%
Howmet Aerospace, Inc.	1,063,049	52,589
Lockheed Martin Corp.	311,590	139,701
Northrop Grumman Corp.	111,457	48,271
RTX Corp.	379,173	32,624
Space Exploration Technologies Corp. Class A (b)(d)(e)	117,000	9,477
The Boeing Co. (b)	657,843	147,377
TransDigm Group, Inc.	73,235	66,193
		496,232
Air Freight & Logistics - 0.1%
United Parcel Service, Inc. Class B	179,756	30,451
Building Products - 0.4%
Trane Technologies PLC	787,155	161,571
Electrical Equipment - 0.6%
AMETEK, Inc.	1,027,130	163,838
Eaton Corp. PLC	340,115	78,352
		242,190
Ground Transportation - 0.9%
CSX Corp.	2,629,426	79,409
Old Dominion Freight Lines, Inc.	292,670	125,078
Uber Technologies, Inc. (b)	1,449,629	68,466
Union Pacific Corp.	402,084	88,688
		361,641
Industrial Conglomerates - 0.4%
General Electric Co.	1,412,778	161,707
Honeywell International, Inc.	110,901	20,843
		182,550
Machinery - 1.8%
Caterpillar, Inc.	418,097	117,540
Deere & Co.	100,468	41,286
Dover Corp.	796,353	118,099
Fortive Corp.	2,125,396	167,587
Ingersoll Rand, Inc.	1,768,462	123,103
Parker Hannifin Corp.	411,868	171,708
		739,323
Passenger Airlines - 0.1%
Delta Air Lines, Inc.	573,154	24,577
Professional Services - 0.0%
Dun & Bradstreet Holdings, Inc.	1,810,831	19,738
TOTAL INDUSTRIALS		2,258,273
INFORMATION TECHNOLOGY - 16.4%
Electronic Equipment, Instruments & Components - 0.2%
Amphenol Corp. Class A	912,014	80,604
IT Services - 0.8%
Accenture PLC Class A	139,526	45,174
Capgemini SA	187,207	34,937
EPAM Systems, Inc. (b)	182,477	47,260
MongoDB, Inc. Class A (b)	214,372	81,740
Shopify, Inc. Class A (b)	379,098	25,206
Snowflake, Inc. (b)	219,618	34,447
Twilio, Inc. Class A (b)	549,005	34,977
Wix.com Ltd. (b)	319,372	31,544
		335,285
Semiconductors & Semiconductor Equipment - 4.1%
Advanced Micro Devices, Inc. (b)	901,733	95,331
ASML Holding NV (Netherlands)	80,514	52,940
Lam Research Corp.	143,562	100,838
Marvell Technology, Inc.	1,191,746	69,419
Micron Technology, Inc.	2,046,867	143,158
NVIDIA Corp.	1,894,465	935,013
NXP Semiconductors NV	411,707	84,696
Renesas Electronics Corp. (b)	2,825,127	47,066
SolarEdge Technologies, Inc. (b)	228,545	37,155
Taiwan Semiconductor Manufacturing Co. Ltd.	5,593,000	96,055
		1,661,671
Software - 7.4%
Adobe, Inc. (b)	512,667	286,755
Autodesk, Inc. (b)	385,116	85,473
CCC Intelligent Solutions Holdings, Inc. (b)(d)	253,848	2,716
Elastic NV (b)	397,069	24,571
Five9, Inc. (b)	542,618	39,269
HubSpot, Inc. (b)	162,220	88,656
Intuit, Inc.	350,804	190,069
Microsoft Corp.	5,868,167	1,923,353
Salesforce, Inc. (b)	979,389	216,895
Stripe, Inc. Class B (b)(d)(e)	110,500	2,051
Synopsys, Inc. (b)	212,945	97,718
Tenable Holdings, Inc. (b)	430,567	19,535
Workday, Inc. Class A (b)	279,425	68,319
		3,045,380
Technology Hardware, Storage & Peripherals - 3.9%
Apple, Inc.	8,351,220	1,568,944
Samsung Electronics Co. Ltd.	636,060	32,117
		1,601,061
TOTAL INFORMATION TECHNOLOGY		6,724,001
MATERIALS - 1.5%
Chemicals - 1.0%
Air Products & Chemicals, Inc.	136,643	40,377
Cabot Corp.	206,351	14,952
Celanese Corp. Class A	243,408	30,757
Chemtrade Logistics Income Fund	1,227,981	7,734
Corteva, Inc.	610,041	30,813
DuPont de Nemours, Inc.	396,786	30,509
Linde PLC	438,188	169,596
LyondellBasell Industries NV Class A	396,485	39,161
Nutrien Ltd.	104,076	6,593
Olin Corp.	239,355	13,887
The Chemours Co. LLC	558,199	18,990
Tronox Holdings PLC	998,364	13,618
Westlake Corp.	64,458	8,443
		425,430
Construction Materials - 0.1%
Martin Marietta Materials, Inc.	46,140	20,597
Vulcan Materials Co.	98,801	21,563
		42,160
Containers & Packaging - 0.1%
Aptargroup, Inc.	116,603	15,457
Greif, Inc. Class A	203,765	14,791
		30,248
Metals & Mining - 0.3%
First Quantum Minerals Ltd.	1,341,203	36,031
Franco-Nevada Corp.	116,597	16,797
Freeport-McMoRan, Inc.	1,226,732	48,959
Horizonte Minerals PLC (b)	2,358,192	3,899
Ivanhoe Mines Ltd. (b)	914,987	8,140
Major Drilling Group International, Inc. (b)	479,282	3,086
Reliance Steel & Aluminum Co.	64,251	18,309
		135,221
TOTAL MATERIALS		633,059
REAL ESTATE - 1.5%
Equity Real Estate Investment Trusts (REITs) - 1.5%
American Tower Corp.	351,953	63,816
Corporate Office Properties Trust (SBI)	503,566	13,032
Crown Castle International Corp.	334,225	33,590
CubeSmart	80,732	3,367
Digital Realty Trust, Inc.	386,276	50,880
Equinix, Inc.	102,468	80,066
Equity Lifestyle Properties, Inc.	597,760	40,026
Essex Property Trust, Inc.	166,341	39,654
Extra Space Storage, Inc.	12,031	1,548
Invitation Homes, Inc.	1,046,250	35,667
Mid-America Apartment Communities, Inc.	326,660	47,441
Prologis (REIT), Inc.	721,073	89,557
Simon Property Group, Inc.	259,127	29,408
Ventas, Inc.	480,570	20,991
Welltower, Inc.	655,728	54,347
		603,390
UTILITIES - 1.5%
Electric Utilities - 1.1%
Constellation Energy Corp.	586,059	61,044
Edison International	458,363	31,558
Exelon Corp.	503,576	20,203
FirstEnergy Corp.	375,261	13,536
NextEra Energy, Inc.	1,642,098	109,692
NRG Energy, Inc.	206,028	7,736
PG&E Corp. (b)	4,377,788	71,358
PPL Corp.	1,180,232	29,411
Southern Co.	1,573,955	106,604
		451,142
Independent Power and Renewable Electricity Producers - 0.0%
The AES Corp.	463,707	8,314
Multi-Utilities - 0.3%
Dominion Energy, Inc.	799,009	38,784
NiSource, Inc.	905,901	24,242
Sempra	971,606	68,226
		131,252
Water Utilities - 0.1%
American Water Works Co., Inc.	220,811	30,635
TOTAL UTILITIES		621,343
TOTAL COMMON STOCKS (Cost $15,693,705)		25,256,247

Preferred Stocks - 0.3%
	Shares	Value ($) (000s)
Convertible Preferred Stocks - 0.2%
COMMUNICATION SERVICES - 0.1%
Interactive Media & Services - 0.1%
ByteDance Ltd. Series E1 (b)(d)(e)	143,672	32,483

FINANCIALS - 0.0%
Financial Services - 0.0%
Circle Internet Financial Ltd. Series F (b)(d)(e)	239,407	5,150

INDUSTRIALS - 0.0%
Aerospace & Defense - 0.0%
ABL Space Systems:
Series B(b)(d)(e)	120,349	3,305
Series B2(b)(d)(e)	54,288	1,454
		4,759
Construction & Engineering - 0.0%
Beta Technologies, Inc. Series A (b)(d)(e)	49,193	5,573

TOTAL INDUSTRIALS		10,332

INFORMATION TECHNOLOGY - 0.1%
Communications Equipment - 0.0%
Astranis Space Technologies Corp. Series C (b)(d)(e)	412,038	7,446

Semiconductors & Semiconductor Equipment - 0.0%
Astera Labs, Inc. Series C (b)(d)(e)	947,200	8,979
GaN Systems, Inc.:
Series F1(b)(d)(e)	97,586	1,080
Series F2(b)(d)(e)	51,529	570
Xsight Labs Ltd. Series D (b)(d)(e)	450,873	2,593
		13,222
Software - 0.1%
Algolia, Inc. Series D (b)(d)(e)	189,206	2,734
Bolt Technology OU Series E (b)(d)(e)	41,382	5,343
Databricks, Inc.:
Series G(b)(d)(e)	30,576	2,247
Series H(b)(d)(e)	125,490	9,224
Skyryse, Inc. Series B (b)(d)(e)	332,947	7,684
Stripe, Inc. Series H (b)(d)(e)	135,605	2,517
		29,749
TOTAL INFORMATION TECHNOLOGY		50,417

TOTAL CONVERTIBLE PREFERRED STOCKS		98,382
Nonconvertible Preferred Stocks - 0.1%
FINANCIALS - 0.1%
Financial Services - 0.1%
Circle Internet Financial Ltd. Series E (b)(d)(e)	467,381	10,053

INDUSTRIALS - 0.0%
Professional Services - 0.0%
Checkr, Inc. Series E (b)(e)	588,051	5,675

INFORMATION TECHNOLOGY - 0.0%
IT Services - 0.0%
Gupshup, Inc. (b)(d)(e)	403,701	5,046

TOTAL NONCONVERTIBLE PREFERRED STOCKS		20,774
TOTAL PREFERRED STOCKS (Cost $124,007)		119,156

Nonconvertible Bonds - 0.0%
	Principal Amount (f) (000s)	Value ($) (000s)
FINANCIALS - 0.0%
Financial Services - 0.0%
Ant International Co. Ltd. 3.55% 8/14/24 (d)(e) (Cost $10,087)	10,087	10,036

U.S. Treasury Obligations - 0.0%
	Principal Amount (f) (000s)	Value ($) (000s)
U.S. Treasury Bills, yield at date of purchase 5.15% to 5.34% 9/14/23 to 10/26/23 (g) (Cost $17,044)	17,170	17,043

Preferred Securities - 0.0%
	Principal Amount (f) (000s)	Value ($) (000s)
INFORMATION TECHNOLOGY - 0.0%
Semiconductors & Semiconductor Equipment - 0.0%
GaN Systems, Inc. 0% (d)(e)(h) (Cost $2,287)	2,287	2,815

Fixed-Income Funds - 36.7%
	Shares	Value ($) (000s)
Fidelity Investment Grade Bond Central Fund (i) (Cost $17,225,401)	156,243,571	15,060,318

Money Market Funds - 1.5%
	Shares	Value ($) (000s)
Fidelity Cash Central Fund 5.43% (j)	564,482,660	564,596
Fidelity Securities Lending Cash Central Fund 5.44% (j)(k)	36,229,077	36,233
TOTAL MONEY MARKET FUNDS (Cost $600,825)		600,829

TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $33,673,356)	41,066,444
NET OTHER ASSETS (LIABILITIES) - 0.0%	(11,511)
NET ASSETS - 100.0%	41,054,933

Futures Contracts
	Number of contracts	Expiration Date	Notional Amount ($) (000s)	Value ($) (000s)	Unrealized Appreciation/ (Depreciation) ($) (000s)
Purchased

Equity Index Contracts
CME E-mini S&P 500 Index Contracts (United States)	1,443	Sep 2023	325,829	10,121	10,121

The notional amount of futures purchased as a percentage of Net Assets is 0.8%

Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

(a)

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $33,842,000 or 0.1% of net assets.

(b)	Non-income producing

(c)	Security or a portion of the security is on loan at period end.

(d)	Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $169,141,000 or 0.4% of net assets.

(e)	Level 3 security

(f)	Amount is stated in United States dollars unless otherwise noted.

(g)	Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $17,023,000.

(h)	Security is perpetual in nature with no stated maturity date.

(i)

(j)

(k)	Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:
Security	Acquisition Date	Acquisition Cost ($) (000s)
ABL Space Systems Series B	3/24/21	5,420

ABL Space Systems Series B2	10/22/21	3,691

Algolia, Inc. Series D	7/23/21	5,533

Ant International Co. Ltd. 3.55% 8/14/24	8/14/23	10,087

Astera Labs, Inc. Series C	8/24/21	3,184

Astranis Space Technologies Corp. Series C	3/19/21	9,032

Beta Technologies, Inc. Series A	4/09/21	3,604

Bolt Technology OU Series E	1/03/22	10,751

ByteDance Ltd. Series E1	11/18/20	15,743

Cazoo Group Ltd.	3/28/21	3,875

CCC Intelligent Solutions Holdings, Inc.	2/02/21	2,538

Circle Internet Financial Ltd. Series E	5/11/21	7,586

Circle Internet Financial Ltd. Series F	5/09/22	10,089

Databricks, Inc. Series G	2/01/21	1,808

Databricks, Inc. Series H	8/31/21	9,222

Epic Games, Inc.	3/29/21	10,861

GaN Systems, Inc. Series F1	11/30/21	828

GaN Systems, Inc. Series F2	11/30/21	437

GaN Systems, Inc. 0%	11/30/21	2,287

Gupshup, Inc.	6/08/21	9,231

Skyryse, Inc. Series B	10/21/21	8,217

Space Exploration Technologies Corp. Class A	2/16/21	4,914

Starling Bank Ltd. Series D	6/18/21	9,104

Stripe, Inc. Class B	5/18/21	4,434

Stripe, Inc. Series H	3/15/21 - 5/25/23	5,441

Xsight Labs Ltd. Series D	2/16/21	3,605

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

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 5.43%	300,528	8,219,742	7,955,674	17,295	11	(11)	564,596	1.4%
Fidelity Investment Grade Bond Central Fund	12,494,979	3,223,209	107,385	505,556	1,867	(552,352)	15,060,318	40.1%
Fidelity Securities Lending Cash Central Fund 5.44%	48,085	782,128	793,980	549	-	-	36,233	0.1%
Total	12,843,592	12,225,079	8,857,039	523,400	1,878	(552,363)	15,661,147

Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	2,245,665	2,205,539	-	40,126
Consumer Discretionary	2,715,628	2,715,628	-	-
Consumer Staples	1,734,588	1,724,623	9,965	-
Energy	1,147,740	1,147,740	-	-
Financials	3,294,908	3,143,646	114,117	37,145
Health Care	3,325,338	3,325,338	-	-
Industrials	2,274,280	2,248,796	-	25,484
Information Technology	6,779,464	6,490,952	230,998	57,514
Materials	633,059	633,059	-	-
Real Estate	603,390	603,390	-	-
Utilities	621,343	621,343	-	-

Corporate Bonds	10,036	-	-	10,036

U.S. Government and Government Agency Obligations	17,043	-	17,043	-

Preferred Securities	2,815	-	-	2,815

Fixed-Income Funds	15,060,318	15,060,318	-	-

Money Market Funds	600,829	600,829	-	-
Total Investments in Securities:	41,066,444	40,521,201	372,123	173,120
Derivative Instruments:

Assets
Futures Contracts	10,121	10,121	-	-
Total Assets	10,121	10,121	-	-
Total Derivative Instruments:	10,121	10,121	-	-

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of August 31, 2023. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.

Primary Risk Exposure / Derivative Type	Value
(Amounts in thousands)	Asset ($)	Liability ($)
Equity Risk
Futures Contracts (a)	10,121	0
Total Equity Risk	10,121	0
Total Value of Derivatives	10,121	0

(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).

Financial Statements

Statement of Assets and Liabilities
Amounts in thousands (except per-share amounts)				August 31, 2023

Assets
Investment in securities, at value (including securities loaned of $33,956) - See accompanying schedule:
Unaffiliated issuers (cost $15,847,130)	$	25,405,297
Fidelity Central Funds (cost $17,826,226)		15,661,147


Total Investment in Securities (cost $33,673,356)			$	41,066,444
Foreign currency held at value (cost $77)				77
Receivable for investments sold				48,178
Receivable for fund shares sold				23,134
Dividends receivable				34,304
Interest receivable				14
Distributions receivable from Fidelity Central Funds				2,862
Prepaid expenses				69
Other receivables				1,554
Total assets				41,176,636
Liabilities
Payable for investments purchased	$	44,225
Payable for fund shares redeemed		21,409
Accrued management fee		12,635
Payable for daily variation margin on futures contracts		595
Other affiliated payables		3,752
Other payables and accrued expenses		2,854
Collateral on securities loaned		36,233
Total Liabilities				121,703
Net Assets			$	41,054,933
Net Assets consist of:
Paid in capital			$	33,167,632
Total accumulated earnings (loss)				7,887,301
Net Assets			$	41,054,933

Net Asset Value and Maximum Offering Price
Balanced :
Net Asset Value, offering price and redemption price per share ($33,113,351 ÷ 1,265,723 shares)			$	26.16
Class K :
Net Asset Value, offering price and redemption price per share ($7,941,582 ÷ 303,512 shares)			$	26.17

Statement of Operations
Amounts in thousands				Year ended August 31, 2023
Investment Income
Dividends			$	324,010
Interest				754
Income from Fidelity Central Funds (including $549 from security lending)				523,400
Total Income				848,164
Expenses
Management fee	$	144,714
Transfer agent fees		40,701
Accounting fees		2,374
Custodian fees and expenses		370
Independent trustees' fees and expenses		212
Registration fees		377
Audit		191
Legal		65
Interest		80
Miscellaneous		190
Total expenses before reductions		189,274
Expense reductions		(1,934)
Total expenses after reductions				187,340
Net Investment income (loss)				660,824
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers (net of foreign taxes of $35)		876,766
Redemptions in-kind		97,766
Fidelity Central Funds		1,878
Foreign currency transactions		(184)
Futures contracts		15,716
Total net realized gain (loss)				991,942
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers(net of increase in deferred foreign taxes of $455)		3,120,713
Fidelity Central Funds		(552,363)
Unfunded commitments		726
Assets and liabilities in foreign currencies		196
Futures contracts		12,148
Total change in net unrealized appreciation (depreciation)				2,581,420
Net gain (loss)				3,573,362
Net increase (decrease) in net assets resulting from operations			$	4,234,186

Statement of Changes in Net Assets

Amount in thousands		Year ended August 31, 2023		Year ended August 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	660,824	$	475,512
Net realized gain (loss)		991,942		2,615,408
Change in net unrealized appreciation (depreciation)		2,581,420		(9,077,818)
Net increase (decrease) in net assets resulting from operations		4,234,186		(5,986,898)
Distributions to shareholders		(2,942,116)		(4,444,353)

Share transactions - net increase (decrease)		423,615		1,859,354
Total increase (decrease) in net assets		1,715,685		(8,571,897)

Net Assets
Beginning of period		39,339,248		47,911,145
End of period	$	41,054,933	$	39,339,248

Financial Highlights

Fidelity® Balanced Fund

Years ended August 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	25.49	$	32.24	$	27.37	$	23.54	$	25.33
Income from Investment Operations
Net investment income (loss) A,B		.42		.30		.29		.38		.42
Net realized and unrealized gain (loss)		2.17		(4.09)		6.17		4.49		.08
Total from investment operations		2.59		(3.79)		6.46		4.87		.50
Distributions from net investment income		(.41)		(.29)		(.29)		(.41)		(.40)
Distributions from net realized gain		(1.51)		(2.67)		(1.31)		(.62)		(1.89)
Total distributions		(1.92)		(2.96)		(1.59) C		(1.04) C		(2.29)
Net asset value, end of period	$	26.16	$	25.49	$	32.24	$	27.37	$	23.54
Total Return D		11.60%		(12.80)%		24.83%		21.44%		2.61%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.51%		.50%		.51%		.52%		.53%
Expenses net of fee waivers, if any		.50%		.50%		.50%		.52%		.53%
Expenses net of all reductions		.50%		.50%		.50%		.51%		.53%
Net investment income (loss)		1.70%		1.05%		.98%		1.57%		1.82%
Supplemental Data
Net assets, end of period (in millions)	$	33,113	$	31,647	$	37,819	$	28,805	$	24,969
Portfolio turnover rate G		29% H		36% H		40% H		95% H		60%

ACalculated based on average shares outstanding during the period.

CTotal distributions per share do not sum due to rounding.

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

HPortfolio turnover rate excludes securities received or delivered in-kind.

Fidelity® Balanced Fund Class K

Years ended August 31,		2023		2022		2021		2020		2019
Selected Per-Share Data
Net asset value, beginning of period	$	25.49	$	32.24	$	27.37	$	23.55	$	25.33
Income from Investment Operations
Net investment income (loss) A,B		.43		.32		.31		.40		.44
Net realized and unrealized gain (loss)		2.19		(4.09)		6.17		4.48		.09
Total from investment operations		2.62		(3.77)		6.48		4.88		.53
Distributions from net investment income		(.42)		(.31)		(.31)		(.43)		(.42)
Distributions from net realized gain		(1.51)		(2.67)		(1.31)		(.62)		(1.89)
Total distributions		(1.94) C		(2.98)		(1.61) C		(1.06) C		(2.31)
Net asset value, end of period	$	26.17	$	25.49	$	32.24	$	27.37	$	23.55
Total Return D		11.72%		(12.73)%		24.92%		21.49%		2.74%
Ratios to Average Net Assets B,E,F
Expenses before reductions		.43%		.43%		.43%		.44%		.45%
Expenses net of fee waivers, if any		.42%		.42%		.43%		.44%		.45%
Expenses net of all reductions		.42%		.42%		.43%		.43%		.44%
Net investment income (loss)		1.78%		1.12%		1.06%		1.65%		1.91%
Supplemental Data
Net assets, end of period (in millions)	$	7,942	$	7,692	$	10,092	$	9,033	$	8,429
Portfolio turnover rate G		29% H		36% H		40% H		95% H		60%

ACalculated based on average shares outstanding during the period.

CTotal distributions per share do not sum due to rounding.

DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

GAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

HPortfolio turnover rate excludes securities received or delivered in-kind.

Notes to Financial Statements

For the period ended August 31, 2023

(Amounts in thousands except percentages)

1. Organization.

Fidelity Balanced Fund (the Fund) is a fund of Fidelity Puritan Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Balanced and Class K shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.

2. Investments in Fidelity Central Funds.

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense RatioA
Fidelity Investment Grade Bond Central Fund	Fidelity Management & Research Company LLC (FMR)	Seeks a high level of income by normally investing in investment-grade debt securities.	Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps	Less than .005%
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%

A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Significant Accounting Policies.

The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - unadjusted 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)

Valuation techniques used to value the Fund's investments by major category are as follows:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate bonds, preferred securities and U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.

Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Debt obligations may be placed on non-accrual status and related interest income may be reduced by ceasing current accruals and writing off interest receivables when the collection of all or a portion of interest has become doubtful based on consistently applied procedures. A debt obligation is removed from non-accrual status when the issuer resumes interest payments or when collectability of interest is reasonably assured. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.

Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or ETFs. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or ETF. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.

Fidelity Balanced Fund

$1,171

Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. As of August 31, 2023, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Other payables and accrued expenses on the Statement of Assets & Liabilities.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.

Book-tax differences are primarily due to the futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), market discount, redemptions in kind, partnerships and losses deferred due to wash sales and excise tax regulations.

As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:

Gross unrealized appreciation	$10,264,558
Gross unrealized depreciation	(2,928,263)
Net unrealized appreciation (depreciation)	$7,336,295
Tax Cost	$33,730,149

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income	$136,624
Undistributed long-term capital gain	$415,780
Net unrealized appreciation (depreciation) on securities and other investments	$7,336,249

The tax character of distributions paid was as follows:

	August 31, 2023	August 31, 2022
Ordinary Income	$640,900	$1,821,812
Long-term Capital Gains	2,301,216	2,622,541
Total	$2,942,116	$4,444,353

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.

Derivatives were used to increase or decrease exposure to the following risk(s):


Equity Risk	Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.

Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.

Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.

Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.

Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.

5. Purchases and Sales of Investments.

Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.

	Purchases ($)	Sales ($)
Fidelity Balanced Fund	10,929,642	12,679,674

Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

	Shares	Total net realized gain or loss ($)	Total Proceeds ($)	Participating classes
Fidelity Balanced Fund	13,857	97,766	327,304	Balanced, Class K

Prior Fiscal Year Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.

	Shares	Total net realized gain or loss ($)	Total Proceeds ($)	Participating classes
Fidelity Balanced Fund	7,482	79,467	216,180	Balanced, Class K

6. Fees and Other Transactions with Affiliates.

For the period, transfer agent fees for each class were as follows:

	Amount	% of Class-Level Average Net Assets
Balanced	$ 37,518	.12
Class K	3,183	.04
	$40,701

	% of Average Net Assets
Fidelity Balanced Fund	.01

Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:

	Amount
Fidelity Balanced Fund	$ 157

	Borrower or Lender	Average Loan Balance	Weighted Average Interest Rate	Interest Expense
Fidelity Balanced Fund	Borrower	$92,240	4.43%	$80

	Purchases ($)	Sales ($)	Realized Gain (Loss) ($)
Fidelity Balanced Fund	339,731	683,623	33,608

Other. During the period, the investment adviser reimbursed the Fund for certain losses as follows:

	Amount ($)
Fidelity Balanced Fund	105

7. Committed Line of Credit.

Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.

	Amount
Fidelity Balanced Fund	$71

8. Security Lending.

Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:

	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 Balanced Fund	$58	$33	$-

9. Expense Reductions.

During the period the investment adviser or an affiliate reimbursed and/or waived a portion of fund-level operating expenses in the amount of $1,934.

10. Distributions to Shareholders.

Distributions to shareholders of each class were as follows:

	Year ended August 31, 2023	Year ended August 31, 2022
Fidelity Balanced Fund
Distributions to shareholders
Balanced	$ 2,360,180	$3,513,610
Class K	581,936	930,743
Total	$2,942,116	$4,444,353

11. Share Transactions.

Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:

	Shares	Shares	Dollars	Dollars
	Year ended August 31, 2023	Year ended August 31, 2022	Year ended August 31, 2023	Year ended August 31, 2022
Fidelity Balanced Fund
Balanced
Shares sold	128,865	153,031	$3,183,932	$4,421,713
Reinvestment of distributions	98,805	113,479	2,193,993	3,307,115
Shares redeemed	(203,664)	(197,918)	(4,945,165)	(5,573,068)
Net increase (decrease)	24,006	68,592	$432,760	$2,155,760
Class K
Shares sold	33,384	31,940	$818,833	$913,583
Reinvestment of distributions	26,192	31,940	581,936	930,743
Shares redeemed	(57,853)	(75,095)	(1,409,914)	(2,140,732)
Net increase (decrease)	1,723	(11,215)	$(9,145)	$(296,406)

12. Other.

13. Risk and Uncertainties.

Report of Independent Registered Public Accounting Firm

To the Board of Trustees of Fidelity Puritan Trust and Shareholders of Fidelity Balanced Fund

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Fidelity Balanced Fund (one of the funds constituting Fidelity Puritan Trust, referred to hereafter as the "Fund") as of August 31, 2023, the related statement of operations for the year ended August 31, 2023, the statement of changes in net assets for each of the two years in the period ended August 31, 2023, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2023 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2023, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2023 and the financial highlights for each of the five years in the period ended August 31, 2023 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2023 by correspondence with the custodian, issuers of privately offered securities and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Boston, Massachusetts

October 13, 2023

We have served as the auditor of one or more investment companies in the Fidelity group of funds since 1932.

Trustees and Officers

TRUSTEES AND OFFICERS

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Bettina Doulton (1964)

Year of Election or Appointment: 2021

Trustee

Robert A. Lawrence (1952)

Year of Election or Appointment: 2020

Trustee

Chair of the Board of Trustees

* Determined to be an "Interested Trustee" by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR.

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Thomas P. Bostick (1956)

Year of Election or Appointment: 2021

Trustee

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Vicki L. Fuller (1957)

Year of Election or Appointment: 2020

Trustee

Patricia L. Kampling (1959)

Year of Election or Appointment: 2020

Trustee

Thomas A. Kennedy (1955)

Year of Election or Appointment: 2021

Trustee

Oscar Munoz (1959)

Year of Election or Appointment: 2021

Trustee

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Lead Independent Trustee

Susan Tomasky (1953)

Year of Election or Appointment: 2020

Trustee

Michael E. Wiley (1950)

Year of Election or Appointment: 2020

Trustee

Advisory Board Members and Officers:

Name, Year of Birth; Principal Occupation

Vijay C. Advani (1960)

Year of Election or Appointment: 2023

Member of the Advisory Board

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Karen B. Peetz (1955)

Year of Election or Appointment: 2023

Member of the Advisory Board

Heather Bonner (1977)

Year of Election or Appointment: 2023

Assistant Treasurer

Craig S. Brown (1977)

Year of Election or Appointment: 2022

Deputy Treasurer

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Margaret Carey (1973)

Year of Election or Appointment: 2023

Secretary and Chief Legal Officer (CLO)

William C. Coffey (1969)

Year of Election or Appointment: 2019

Assistant Secretary

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Colm A. Hogan (1973)

Year of Election or Appointment: 2020

Assistant Treasurer

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Chris Maher (1972)

Year of Election or Appointment: 2020

Deputy Treasurer

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2020

Chief Compliance Officer

Brett Segaloff (1972)

Year of Election or Appointment: 2021

Anti-Money Laundering (AML) Officer

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Jim Wegmann (1979)

Year of Election or Appointment: 2019

Assistant Treasurer

Shareholder Expense Example

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (March 1, 2023 to August 31, 2023).

Actual Expenses

Hypothetical Example for Comparison Purposes

	Annualized Expense Ratio- A	Beginning Account Value March 1, 2023	Ending Account Value August 31, 2023	Expenses Paid During Period- C March 1, 2023 to August 31, 2023
Fidelity® Balanced Fund
Fidelity® Balanced Fund	.50%
Actual		$ 1,000	$ 1,106.40	$ 2.65
Hypothetical-B		$ 1,000	$ 1,022.68	$ 2.55
Class K	.42%
Actual		$ 1,000	$ 1,107.10	$ 2.23
Hypothetical-B		$ 1,000	$ 1,023.09	$ 2.14

A Annualized expense ratio reflects expenses net of applicable fee waivers.

B 5% return per year before expenses

Distributions (Unaudited)

The dividend and capital gains distributions for the fund(s) are available on Fidelity.com or Institutional.Fidelity.com.

The fund hereby designates as a capital gain dividend with respect to the taxable year ended August 31, 2023, $425,851,250, or, if subsequently determined to be different, the net capital gain of such year.

A total of 16.37% of the dividends distributed during the fiscal year was derived from interest on U.S. Government securities which is generally exempt from state income tax.

The fund designates $228,512,716 of distributions paid in the calendar year 2022 as qualifying to be taxed as interest-related dividends for nonresident alien shareholders.

The fund designates $264,385,465 of distributions paid during the fiscal year ended 2023 as qualifying to be taxed as section 163(j) interest dividends.

Balanced designates 11%, 47%, 50%, and 51%; Class K designates 10%, 45%, 49%, and 49% of the dividends distributed in October, December, April, and July, respectively during the fiscal year as qualifying for the dividends-received deduction for corporate shareholders.

Balanced designates 12.76%, 44.47%, 61.89%, and 62.12%; Class K designates 12.12%, 42.45%, 60.53%, and 59.62% of the dividends distributed in October, December, April, and July, respectively during the fiscal year as amounts which may be taken into account as a dividend for purposes of the maximum rate under section 1(h)(11) of the Internal Revenue Code.

Balanced designates 3.30%, 3.29%, 1.57%, and 1.57%; and Class K designates 3.13%, 3.14%, 1.53%, and 1.51% of the dividends distributed in October, December, April, and July, respectively during the fiscal year as a section 199A dividend.

The fund will notify shareholders in January 2024 of amounts for use in preparing 2023 income tax returns.

Board Approval of Investment Advisory Contracts

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Balanced Fund

Nature, Extent, and Quality of Services Provided. The Board considered staffing as it relates to the fund, including the backgrounds and experience of investment personnel of the Investment Advisers, and also considered the Investments Advisers' implementation of the fund's investment program. The Independent Trustees also had discussions with senior management of Fidelity's investment operations and investment groups. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of the fund. Additionally, the Board considered the portfolio managers' investments, if any, in the funds that they manage.

Resources Dedicated to Investment Management and Support Services. The Board and the Fund Oversight and Research Committees reviewed the general qualifications and capabilities of Fidelity's investment staff, including its size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted the resources devoted to expansion of Fidelity's global investment organization, and that Fidelity's analysts have extensive resources, tools and capabilities that allow them to conduct sophisticated quantitative and fundamental analysis, as well as credit analysis of issuers, counterparties and guarantors. Further, the Board considered that Fidelity's investment professionals have sufficient access to global information and data so as to provide competitive investment results over time, and that those professionals also have access to sophisticated tools that permit them to assess portfolio construction and risk and performance attribution characteristics continuously, as well as to transmit new information and research conclusions rapidly around the world. Additionally, in its deliberations, the Board considered Fidelity's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value and convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information over the Internet and through telephone representatives, investor education materials and asset allocation tools. The Board also considered that it reviews customer service metrics such as telephone response times, continuity of services on the website and metrics addressing services at Fidelity Investor Centers.

Based on its review, the Board concluded that the nature, extent, and quality of services provided to the fund under the Advisory Contracts should continue to benefit the shareholders of the fund.

The Board concluded, taking into account the analysis of the Economies of Scale Committee, that economies of scale, if any, are being appropriately shared between fund shareholders and Fidelity.

1.536127.127

BAL-ANN-1023

Fidelity® Puritan® K6 Fund

Annual Report

August 31, 2023

Contents

Performance

Management's Discussion of Fund Performance

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Distributions

Board Approval of Investment Advisory Contracts

You may also call 1-800-835-5092 to request a free copy of the proxy voting guidelines.

Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.

Other third-party marks appearing herein are the property of their respective owners.

NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE

Neither the Fund nor Fidelity Distributors Corporation is a bank.

Performance: The Bottom Line

Average Annual Total Returns

Periods ended August 31, 2023	Past 1 year	Life of Fund A
Fidelity® Puritan® K6 Fund	12.05%	9.78%

A From June 14, 2019

$10,000 Over Life of Fund

Let's say hypothetically that $10,000 was invested in Fidelity® Puritan® K6 Fund, on June 14, 2019, when the fund started.

The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period.

Management's Discussion of Fund Performance

Market Recap:

Comments from Portfolio Manager Daniel Kelley:

For the fiscal year, the fund gained 12.05%, outperforming the 9.04% advance of the Fidelity Puritan Composite IndexSM - a 60/40 blend of the S&P 500® and the Bloomberg U.S. Aggregate Bond Index. Security selection in the equities subportfolio contributed to the fund's outperformance of the Composite index the past 12 months. Investment choices and an underweight among investment-grade bonds also helped the fund's relative result. Among stocks, my picks in the industrials sector gave the biggest boost by far. The top individual contributor was an overweight in semiconductor company Nvidia (+269%). I notably increased exposure to Nvidia the past 12 months, making it the fund's No. 2 holding as of August 31. Elsewhere, an overweight in Facebook parent Meta Platforms (+84%) and a non-Composite stake in ride-share company Uber Technologies (+65%) boosted the fund's result versus the Composite. I added to Meta this period, a large holding at the end of August. In fixed income, the fund benefited from an overweight in lower-rated corporate bonds. Conversely, stock selection and an underweight in the information technology sector detracted from relative performance for the 12 months. Positioning in the financials sector also detracted. An underweight in consumer electronics leader Apple (+20%) was the largest individual relative detractor, followed by an underweight in e-commerce giant Amazon.com (+8%).

Investment Summary August 31, 2023 (Unaudited)

The information in the following tables is based on the combined Investments of the Fund and its pro-rata share of investments in Fidelity's Central Funds, other than the Money Market Central Funds.

Top Holdings (% of Fund's net assets)

Microsoft Corp.	5.9
NVIDIA Corp.	3.8
Alphabet, Inc. Class C	3.5
Amazon.com, Inc.	2.2
Meta Platforms, Inc. Class A	2.2
Eaton Corp. PLC	1.9
Apple, Inc.	1.8
MasterCard, Inc. Class A	1.7
Eli Lilly & Co.	1.5
The Boeing Co.	1.4
	25.9

Top Bond Issuers (% of Fund's net assets)
(with maturities greater than one year)
U.S. Treasury Obligations	11.5
Fannie Mae	2.2
Freddie Mac	1.9
Ginnie Mae	1.2
Uniform Mortgage Backed Securities	1.0
JPMorgan Chase & Co.	0.7
Morgan Stanley	0.4
Bank of America Corp.	0.4
Citigroup, Inc.	0.3
Ally Financial, Inc.	0.2
	19.8

Market Sectors (% of Fund's net assets)

Information Technology	20.4
Financials	11.3
Industrials	10.0
Health Care	8.4
Communication Services	8.4
Consumer Discretionary	7.5
Energy	4.6
Materials	2.5
Consumer Staples	2.2
Real Estate	0.9
Utilities	0.6

Asset Allocation (% of Fund's net assets)

Futures and Swaps - 0.7%

Schedule of Investments August 31, 2023

Showing Percentage of Net Assets

Common Stocks - 63.7%
	Shares	Value ($)
COMMUNICATION SERVICES - 7.0%
Entertainment - 0.8%
Electronic Arts, Inc.	3,999	479,800
LiveOne, Inc. (a)(b)	325,553	696,683
Netflix, Inc. (a)	20,807	9,023,580
Spotify Technology SA (a)	2,497	384,463
Universal Music Group NV	35,670	884,373
		11,468,899
Interactive Media & Services - 5.7%
Alphabet, Inc. Class C (a)	348,489	47,864,964
Meta Platforms, Inc. Class A (a)	102,166	30,229,898
		78,094,862
Media - 0.5%
Comcast Corp. Class A	152,277	7,120,473
TOTAL COMMUNICATION SERVICES		96,684,234
CONSUMER DISCRETIONARY - 6.7%
Automobile Components - 0.1%
Aptiv PLC (a)	8,551	867,499
Automobiles - 0.0%
Li Auto, Inc. ADR (a)	4,558	189,841
Broadline Retail - 2.3%
Amazon.com, Inc. (a)	223,195	30,803,142
Global-e Online Ltd. (a)	37,533	1,487,433
		32,290,575
Hotels, Restaurants & Leisure - 1.8%
Airbnb, Inc. Class A (a)	33,119	4,356,804
Caesars Entertainment, Inc. (a)	33,410	1,846,237
Compass Group PLC	71,233	1,796,264
Domino's Pizza, Inc.	7,087	2,745,504
Flutter Entertainment PLC (a)	10,509	1,918,375
Hilton Worldwide Holdings, Inc.	37,867	5,628,930
Marriott International, Inc. Class A	15,388	3,131,612
McDonald's Corp.	10,436	2,934,081
		24,357,807
Household Durables - 0.1%
Chervon Holdings Ltd.	287	948
D.R. Horton, Inc.	12,457	1,482,632
		1,483,580
Specialty Retail - 1.6%
Lowe's Companies, Inc.	35,194	8,111,513
Revolve Group, Inc. (a)	3,215	47,100
RH (a)	3,854	1,407,442
TJX Companies, Inc.	141,970	13,129,386
		22,695,441
Textiles, Apparel & Luxury Goods - 0.8%
Brunello Cucinelli SpA	61,463	5,091,862
LVMH Moet Hennessy Louis Vuitton SE	3,588	3,034,220
Moncler SpA	6,501	441,572
NIKE, Inc. Class B	1,740	176,975
On Holding AG (a)	2,478	71,441
Ralph Lauren Corp.	14,322	1,670,375
Tapestry, Inc.	22,064	735,172
		11,221,617
TOTAL CONSUMER DISCRETIONARY		93,106,360
CONSUMER STAPLES - 1.5%
Beverages - 0.7%
Boston Beer Co., Inc. Class A (a)	2,556	934,039
Monster Beverage Corp.	151,675	8,707,662
		9,641,701
Consumer Staples Distribution & Retail - 0.0%
Performance Food Group Co. (a)	4,421	274,677
Household Products - 0.3%
The Clorox Co.	26,163	4,093,201
Personal Care Products - 0.2%
Estee Lauder Companies, Inc. Class A	8,861	1,422,456
Kenvue, Inc.	64,886	1,495,622
L'Oreal SA (a)	182	80,085
		2,998,163
Tobacco - 0.3%
Philip Morris International, Inc.	43,730	4,200,704
TOTAL CONSUMER STAPLES		21,208,446
ENERGY - 3.0%
Energy Equipment & Services - 1.8%
Baker Hughes Co. Class A	212,269	7,682,015
NOV, Inc.	182,457	3,855,316
Schlumberger Ltd.	154,005	9,080,135
TechnipFMC PLC	183,273	3,489,518
Weatherford International PLC (a)	10	885
		24,107,869
Oil, Gas & Consumable Fuels - 1.2%
Antero Resources Corp. (a)	29,716	822,242
Exxon Mobil Corp.	60,741	6,753,792
Hess Corp.	47,240	7,298,580
Range Resources Corp.	70,166	2,271,975
		17,146,589
TOTAL ENERGY		41,254,458
FINANCIALS - 6.7%
Banks - 0.4%
JPMorgan Chase & Co.	33,864	4,955,319
Capital Markets - 2.2%
Ares Management Corp.	48,909	5,059,147
BlackRock, Inc. Class A	6,461	4,526,189
Cboe Global Markets, Inc.	12,705	1,902,066
CME Group, Inc.	11,908	2,413,513
Deutsche Borse AG	7,990	1,418,417
Goldman Sachs Group, Inc.	6,938	2,273,652
Intercontinental Exchange, Inc.	34,469	4,066,997
KKR & Co. LP	19,597	1,230,888
London Stock Exchange Group PLC	6,881	711,868
Moody's Corp.	3,363	1,132,658
Morgan Stanley	57,509	4,896,891
Raymond James Financial, Inc.	6,593	689,562
		30,321,848
Consumer Finance - 0.2%
American Express Co.	13,915	2,198,431
Capital One Financial Corp.	12,080	1,236,871
		3,435,302
Financial Services - 2.8%
Berkshire Hathaway, Inc. Class B (a)	10,029	3,612,446
Block, Inc. Class A (a)	35,701	2,058,163
MasterCard, Inc. Class A	57,197	23,601,770
Toast, Inc. (a)	66,103	1,465,504
Visa, Inc. Class A	31,315	7,693,469
		38,431,352
Insurance - 1.1%
Arthur J. Gallagher & Co.	23,223	5,352,437
Chubb Ltd.	5,635	1,131,902
Globe Life, Inc.	11,472	1,279,931
Hartford Financial Services Group, Inc.	12,720	913,550
Marsh & McLennan Companies, Inc.	21,185	4,130,863
The Travelers Companies, Inc.	18,405	2,967,438
		15,776,121
TOTAL FINANCIALS		92,919,942
HEALTH CARE - 7.5%
Biotechnology - 1.5%
Argenx SE ADR (a)	6,759	3,396,330
Exact Sciences Corp. (a)	42,860	3,586,096
Karuna Therapeutics, Inc. (a)	21	3,943
Legend Biotech Corp. ADR (a)	48,956	3,395,588
Moderna, Inc. (a)	13,433	1,518,869
Nuvalent, Inc. Class A (a)	5,530	252,002
Prothena Corp. PLC (a)	6,178	326,322
Regeneron Pharmaceuticals, Inc. (a)	5,501	4,546,521
Vertex Pharmaceuticals, Inc. (a)	9,936	3,461,106
		20,486,777
Health Care Equipment & Supplies - 1.9%
Baxter International, Inc.	8,552	347,211
Boston Scientific Corp. (a)	261,512	14,105,957
Intuitive Surgical, Inc. (a)	9,262	2,896,042
Penumbra, Inc. (a)	435	115,058
Stryker Corp.	31,816	9,021,427
		26,485,695
Health Care Providers & Services - 1.6%
agilon health, Inc. (a)	143,356	2,540,268
Cardinal Health, Inc.	6,375	556,729
Cigna Group	2,751	759,991
CVS Health Corp.	41,561	2,708,530
UnitedHealth Group, Inc.	31,380	14,955,080
		21,520,598
Life Sciences Tools & Services - 0.2%
Agilent Technologies, Inc.	12,248	1,482,865
Thermo Fisher Scientific, Inc.	1,961	1,092,473
		2,575,338
Pharmaceuticals - 2.3%
AstraZeneca PLC sponsored ADR	4,924	333,946
Eli Lilly & Co.	36,328	20,132,978
Merck & Co., Inc.	93,339	10,172,084
Novo Nordisk A/S Series B	10,389	1,916,290
		32,555,298
TOTAL HEALTH CARE		103,623,706
INDUSTRIALS - 9.2%
Aerospace & Defense - 2.3%
BWX Technologies, Inc.	5	369
Howmet Aerospace, Inc.	60,400	2,987,988
Lockheed Martin Corp.	16,602	7,443,507
The Boeing Co. (a)	86,317	19,337,598
TransDigm Group, Inc.	2,035	1,839,335
		31,608,797
Building Products - 0.7%
ASSA ABLOY AB (B Shares)	7,781	175,119
Fortune Brands Home & Security, Inc. (b)	21,032	1,451,629
Johnson Controls International PLC	27,012	1,595,329
Trane Technologies PLC	28,737	5,898,557
		9,120,634
Commercial Services & Supplies - 0.3%
Cintas Corp.	7,538	3,800,433
Copart, Inc.	1,792	80,335
		3,880,768
Construction & Engineering - 0.2%
Fluor Corp. (a)	63,335	2,216,092
Willscot Mobile Mini Holdings (a)	4,094	167,936
		2,384,028
Electrical Equipment - 2.5%
Eaton Corp. PLC	116,243	26,778,900
Hubbell, Inc. Class B	8,001	2,608,726
Prysmian SpA	21,488	880,526
Regal Rexnord Corp.	1,262	204,684
Vertiv Holdings Co.	87,159	3,433,193
		33,906,029
Ground Transportation - 1.0%
Canadian Pacific Kansas City Ltd.	7,946	630,753
Lyft, Inc. (a)	113,733	1,339,775
Uber Technologies, Inc. (a)	265,705	12,549,247
		14,519,775
Industrial Conglomerates - 0.9%
General Electric Co.	104,127	11,918,376
Machinery - 0.8%
Caterpillar, Inc.	33,241	9,345,042
PACCAR, Inc.	5,879	483,783
Parker Hannifin Corp.	881	367,289
Pentair PLC	14,575	1,024,040
		11,220,154
Passenger Airlines - 0.2%
Copa Holdings SA Class A (b)	20,977	2,133,361
Delta Air Lines, Inc.	20,596	883,156
		3,016,517
Professional Services - 0.2%
Equifax, Inc.	13,415	2,772,881
Paycom Software, Inc.	2,252	663,980
		3,436,861
Trading Companies & Distributors - 0.1%
Bunzl PLC	2,082	74,641
W.W. Grainger, Inc.	1,984	1,416,854
		1,491,495
TOTAL INDUSTRIALS		126,503,434
INFORMATION TECHNOLOGY - 19.9%
Electronic Equipment, Instruments & Components - 0.4%
Amphenol Corp. Class A	44,858	3,964,550
Flex Ltd. (a)	50,237	1,386,039
		5,350,589
IT Services - 1.4%
Accenture PLC Class A	20,270	6,562,818
Shopify, Inc. Class A (a)	173,785	11,554,965
Snowflake, Inc. (a)	10,111	1,585,910
X Holdings Corp. Class A (c)(e)	4,690	180,893
		19,884,586
Semiconductors & Semiconductor Equipment - 7.9%
Advanced Micro Devices, Inc. (a)	37,050	3,916,926
Analog Devices, Inc.	41,574	7,557,322
Applied Materials, Inc.	10,915	1,667,375
ASML Holding NV (depository receipt)	4,662	3,079,391
First Solar, Inc. (a)	16,807	3,178,540
GlobalFoundries, Inc. (a)	59,602	3,293,011
Lam Research Corp.	4,217	2,962,021
Lattice Semiconductor Corp. (a)	11,986	1,165,758
Marvell Technology, Inc.	225,266	13,121,745
Monolithic Power Systems, Inc.	3,521	1,835,180
NVIDIA Corp.	104,853	51,750,198
NXP Semiconductors NV	16,312	3,355,705
ON Semiconductor Corp. (a)	31,914	3,142,252
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR	74,971	7,015,036
Universal Display Corp.	11,198	1,820,347
		108,860,807
Software - 8.4%
Adobe, Inc. (a)	11,070	6,191,894
Autodesk, Inc. (a)	3,962	879,326
Confluent, Inc. (a)	13,053	431,924
Dynatrace, Inc. (a)	98,192	4,732,854
Fair Isaac Corp. (a)	926	837,650
HubSpot, Inc. (a)	2,729	1,491,453
Microsoft Corp.	250,072	81,963,597
Oracle Corp.	58,689	7,065,569
Salesforce, Inc. (a)	21,608	4,785,308
Synopsys, Inc. (a)	7,245	3,324,658
Tenable Holdings, Inc. (a)	4,106	186,289
UiPath, Inc. Class A (a)	15,876	251,000
Workday, Inc. Class A (a)	18,793	4,594,889
		116,736,411
Technology Hardware, Storage & Peripherals - 1.8%
Apple, Inc.	130,992	24,609,467
Samsung Electronics Co. Ltd.	3,738	188,746
		24,798,213
TOTAL INFORMATION TECHNOLOGY		275,630,606
MATERIALS - 2.2%
Chemicals - 1.6%
Linde PLC	28,071	10,864,600
Sherwin-Williams Co.	41,874	11,378,003
		22,242,603
Construction Materials - 0.0%
Martin Marietta Materials, Inc.	629	280,792
Containers & Packaging - 0.1%
Aptargroup, Inc.	497	65,882
Ball Corp.	20,482	1,115,245
		1,181,127
Metals & Mining - 0.5%
First Quantum Minerals Ltd.	77,497	2,081,958
Franco-Nevada Corp.	1,675	241,308
Freeport-McMoRan, Inc.	3,317	132,381
Newcrest Mining Ltd.	59,867	997,783
Newmont Corp.	75,884	2,991,347
Nucor Corp.	1,157	199,120
Wheaton Precious Metals Corp.	13,175	574,700
		7,218,597
TOTAL MATERIALS		30,923,119
TOTAL COMMON STOCKS (Cost $712,485,215)		881,854,305

Fixed-Income Funds - 35.7%
	Shares	Value ($)
Fidelity High Income Central Fund (d)	627,445	64,331,981
Fidelity Investment Grade Bond Central Fund (d)	4,451,108	429,042,334
TOTAL FIXED-INCOME FUNDS (Cost $537,489,089)		493,374,315

Other - 0.0%
	Shares	Value ($)
Other - 0.0%
Fidelity Private Credit Central Fund LLC (e) (Cost $206,745)	20,665	207,892

Money Market Funds - 1.1%
	Shares	Value ($)
Fidelity Cash Central Fund 5.43% (f)	11,331,939	11,334,206
Fidelity Securities Lending Cash Central Fund 5.44% (f)(g)	3,700,680	3,701,050
TOTAL MONEY MARKET FUNDS (Cost $15,035,255)		15,035,256

TOTAL INVESTMENT IN SECURITIES - 100.5% (Cost $1,265,216,304)	1,390,471,768
NET OTHER ASSETS (LIABILITIES) - (0.5)%	(6,607,311)
NET ASSETS - 100.0%	1,383,864,457

Legend

(a)	Non-income producing

(b)	Security or a portion of the security is on loan at period end.

(c)	Level 3 security

(d)

(e)	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 $388,785 or 0.0% of net assets.

(f)

(g)	Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:
Security	Acquisition Date	Acquisition Cost ($)
Fidelity Private Credit Central Fund LLC	5/26/23 - 8/29/23	206,745

X Holdings Corp. Class A	10/25/22	469,000

Affiliated Central Funds

Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.

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 5.43%	19,963,778	576,388,258	585,017,830	594,870	-	-	11,334,206	0.0%
Fidelity High Income Central Fund	46,460,925	22,190,118	4,005,602	3,660,297	(471,666)	158,206	64,331,981	4.4%
Fidelity Investment Grade Bond Central Fund	252,910,330	189,120,466	596,201	11,083,800	(99,458)	(12,292,803)	429,042,334	1.1%
Fidelity Private Credit Central Fund LLC	-	206,746	-	1,745	-	1,146	207,892	0.0%
Fidelity Securities Lending Cash Central Fund 5.44%	496,200	11,317,994	8,113,144	12,553	-	-	3,701,050	0.0%
Total	319,831,233	799,223,582	597,732,777	15,353,265	(571,124)	(12,133,451)	508,617,463

Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.

Investment Valuation

Valuation Inputs at Reporting Date:
Description	Total ($)	Level 1 ($)	Level 2 ($)	Level 3 ($)
Investments in Securities:

Equities:
Communication Services	96,684,234	95,799,861	884,373	-
Consumer Discretionary	93,106,360	88,275,876	4,830,484	-
Consumer Staples	21,208,446	21,208,446	-	-
Energy	41,254,458	41,254,458	-	-
Financials	92,919,942	90,789,657	2,130,285	-
Health Care	103,623,706	101,707,416	1,916,290	-
Industrials	126,503,434	126,328,315	175,119	-
Information Technology	275,630,606	275,449,713	-	180,893
Materials	30,923,119	29,925,336	997,783	-

Fixed-Income Funds	493,374,315	493,374,315	-	-

Other	207,892	-	207,892	-

Money Market Funds	15,035,256	15,035,256	-	-
Total Investments in Securities:	1,390,471,768	1,379,148,649	11,142,226	180,893

Financial Statements

Statement of Assets and Liabilities
				August 31, 2023

Assets
Investment in securities, at value (including securities loaned of $3,569,916) - See accompanying schedule:
Unaffiliated issuers (cost $712,485,215)	$	881,854,305
Fidelity Central Funds (cost $552,731,089)		508,617,463


Total Investment in Securities (cost $1,265,216,304)			$	1,390,471,768
Cash				13,804
Foreign currency held at value (cost $49)				49
Receivable for investments sold				6,250,662
Receivable for fund shares sold				359,676
Dividends receivable				550,400
Distributions receivable from Fidelity Central Funds				67,546
Other receivables				4,514
Total assets				1,397,718,419
Liabilities
Payable for investments purchased	$	8,836,052
Payable for fund shares redeemed		953,813
Accrued management fee		363,047
Collateral on securities loaned		3,701,050
Total Liabilities				13,853,962
Commitments and contingent liabilities (see Commitments note)
Net Assets			$	1,383,864,457
Net Assets consist of:
Paid in capital			$	1,286,663,086
Total accumulated earnings (loss)				97,201,371
Net Assets			$	1,383,864,457
Net Asset Value, offering price and redemption price per share ($1,383,864,457 ÷ 102,420,767 shares)			$	13.51

Statement of Operations
				Year ended August 31, 2023
Investment Income
Dividends			$	6,473,371
Income from Fidelity Central Funds (including $12,553 from security lending)				15,313,807
Total Income				21,787,178
Expenses
Management fee	$	3,065,575
Independent trustees' fees and expenses		4,841
Total expenses before reductions		3,070,416
Expense reductions		(3,743)
Total expenses after reductions				3,066,673
Net Investment income (loss)				18,720,505
Realized and Unrealized Gain (Loss)
Net realized gain (loss) on:
Investment Securities:
Unaffiliated issuers		(21,994,949)
Fidelity Central Funds		(571,124)
Foreign currency transactions		(680)
Written options		807,175
Capital gain distributions from Fidelity Central Funds		39,458
Total net realized gain (loss)				(21,720,120)
Change in net unrealized appreciation (depreciation) on:
Investment Securities:
Unaffiliated issuers		125,618,970
Fidelity Central Funds		(12,133,451)
Assets and liabilities in foreign currencies		1,383
Total change in net unrealized appreciation (depreciation)				113,486,902
Net gain (loss)				91,766,782
Net increase (decrease) in net assets resulting from operations			$	110,487,287

Statement of Changes in Net Assets

		Year ended August 31, 2023		Year ended August 31, 2022
Increase (Decrease) in Net Assets
Operations
Net investment income (loss)	$	18,720,505	$	11,260,586
Net realized gain (loss)		(21,720,120)		(6,122,323)
Change in net unrealized appreciation (depreciation)		113,486,902		(113,520,029)
Net increase (decrease) in net assets resulting from operations		110,487,287		(108,381,766)
Distributions to shareholders		(17,241,436)		(31,218,292)

Share transactions
Proceeds from sales of shares		590,724,615		432,759,445
Reinvestment of distributions		17,241,436		31,218,292
Cost of shares redeemed		(148,653,415)		(143,613,464)

Net increase (decrease) in net assets resulting from share transactions		459,312,636		320,364,273
Total increase (decrease) in net assets		552,558,487		180,764,215

Net Assets
Beginning of period		831,305,970		650,541,755
End of period	$	1,383,864,457	$	831,305,970

Other Information
Shares
Sold		45,291,468		31,710,032
Issued in reinvestment of distributions		1,403,797		2,257,174
Redeemed		(11,910,163)		(10,625,081)
Net increase (decrease)		34,785,102		23,342,125

Financial Highlights

Fidelity® Puritan® K6 Fund

Years ended August 31,		2023		2022		2021		2020		2019 A
Selected Per-Share Data
Net asset value, beginning of period	$	12.29	$	14.69	$	12.36	$	10.26	$	10.00
Income from Investment Operations
Net investment income (loss) B,C		.24		.20		.16		.16		.03
Net realized and unrealized gain (loss)		1.22		(1.94)		2.36		2.07		.24
Total from investment operations		1.46		(1.74)		2.52		2.23		.27
Distributions from net investment income		(.24)		(.18)		(.14)		(.13)		(.01)
Distributions from net realized gain		-		(.47)		(.05)		-		-
Total distributions		(.24)		(.66) D		(.19)		(.13)		(.01)
Net asset value, end of period	$	13.51	$	12.29	$	14.69	$	12.36	$	10.26
Total Return E,F		12.05%		(12.35)%		20.55%		21.95%		2.65%
Ratios to Average Net Assets C,G,H
Expenses before reductions		.32%		.32%		.32%		.32%		.31% I,J
Expenses net of fee waivers, if any		.32%		.32%		.32%		.32%		.31% I,J
Expenses net of all reductions		.32%		.32%		.31%		.32%		.31% I,J
Net investment income (loss)		1.95%		1.46%		1.17%		1.48%		1.62% J
Supplemental Data
Net assets, end of period (000 omitted)	$	1,383,864	$	831,306	$	650,542	$	371,252	$	83,185
Portfolio turnover rate K,L		58%		72%		65%		67%		99% M

AFor the period June 14, 2019 (commencement of operations) through August 31, 2019.

BCalculated based on average shares outstanding during the period.

CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.

DTotal distributions per share do not sum due to rounding.

ETotal returns for periods of less than one year are not annualized.

FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report. For additional expense information related to investments in Fidelity Private Credit Central Fund LLC, please refer to the Investment in Fidelity Private Credit Central Fund LLC note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.

HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.

IThe size and fluctuation of net assets and expense amounts may cause ratios to differ from contractual rates.

JAnnualized.

KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).

LPortfolio turnover rate excludes securities received or delivered in-kind.

MAmount not annualized.

Notes to Financial Statements

For the period ended August 31, 2023

1. Organization.

Fidelity Puritan K6 Fund (the Fund) is a fund of Fidelity Puritan Trust (the Trust) and is authorized to issue an unlimited number of shares. Share transactions on the Statement of Changes in Net Assets may contain exchanges between affiliated funds. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Shares generally are available only to employer-sponsored retirement plans that are recordkept by Fidelity, or to certain employer-sponsored retirement plans that are not recordkept by Fidelity.

2. Investments in Fidelity Central Funds.

Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

Fidelity Central Fund	Investment Manager	Investment Objective	Investment Practices	Expense RatioA
Fidelity High Income Central Fund	Fidelity Management & Research Company LLC (FMR)	Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities.	Loans & Direct Debt Instruments Restricted Securities	.03%
Fidelity Investment Grade Bond Central Fund	Fidelity Management & Research Company LLC (FMR)	Seeks a high level of income by normally investing in investment-grade debt securities.	Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps	Less than .005%
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%

A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.

3. Investment in Fidelity Private Credit Central Fund LLC.

The Schedule of Investments lists Fidelity Private Credit Central Fund LLC as an investment as of period end, but does not include the underlying holdings of Fidelity Private Credit Central Fund LLC. Fidelity Private Credit Central Fund LLC represented less than 5% of the Fund's net assets at period end. The Fund indirectly bears its proportionate share of the expenses of Fidelity Private Credit Central Fund LLC. The annualized expense ratio for Fidelity Private Credit Central Fund LLC for the six month period ended June 30, 2023 was 8.51%.