Quarterly Holdings Report
for
Fidelity® Founders Fund
July 31, 2023
RFFF-NPRT1-0923
1.9892520.104
Common Stocks - 95.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 14.7% | |||
Entertainment - 4.0% | |||
Endeavor Group Holdings, Inc. (a) | 37,597 | 887,289 | |
Netflix, Inc. (a) | 7,153 | 3,139,952 | |
Sea Ltd. ADR (a) | 3,649 | 242,731 | |
Spotify Technology SA (a) | 898 | 134,170 | |
4,404,142 | |||
Interactive Media & Services - 9.6% | |||
Alphabet, Inc. Class C (a) | 37,720 | 5,020,909 | |
Meta Platforms, Inc. Class A (a) | 15,733 | 5,012,534 | |
VerticalScope Holdings, Inc. (a) | 7,292 | 24,055 | |
Zoominfo Technologies, Inc. (a) | 22,404 | 572,870 | |
10,630,368 | |||
Media - 1.1% | |||
Comcast Corp. Class A | 11,150 | 504,649 | |
The Trade Desk, Inc. (a) | 7,981 | 728,346 | |
1,232,995 | |||
TOTAL COMMUNICATION SERVICES | 16,267,505 | ||
CONSUMER DISCRETIONARY - 16.2% | |||
Automobiles - 0.5% | |||
Rivian Automotive, Inc. (a) | 1,109 | 30,653 | |
Tesla, Inc. (a) | 2,019 | 539,941 | |
570,594 | |||
Broadline Retail - 3.9% | |||
Amazon.com, Inc. (a) | 23,505 | 3,142,148 | |
Global-e Online Ltd. (a) | 26,500 | 1,193,825 | |
4,335,973 | |||
Hotels, Restaurants & Leisure - 5.6% | |||
Airbnb, Inc. Class A (a) | 12,334 | 1,877,111 | |
Cava Group, Inc. (b) | 300 | 17,133 | |
Draftkings Holdings, Inc. (a) | 15,505 | 492,749 | |
Dutch Bros, Inc. (a)(b) | 300 | 9,303 | |
Marriott International, Inc. Class A | 17,846 | 3,601,501 | |
Monarch Casino & Resort, Inc. | 724 | 50,188 | |
Penn Entertainment, Inc. (a) | 3,300 | 86,757 | |
Red Rock Resorts, Inc. | 1,003 | 48,646 | |
6,183,388 | |||
Household Durables - 0.7% | |||
Chervon Holdings Ltd. | 66,500 | 248,984 | |
D.R. Horton, Inc. | 3,600 | 457,272 | |
Garmin Ltd. | 756 | 80,053 | |
786,309 | |||
Specialty Retail - 1.5% | |||
Aritzia, Inc. (a) | 22,217 | 422,724 | |
Auto1 Group SE (a)(c) | 16,871 | 181,713 | |
Farfetch Ltd. Class A (a)(b) | 7,984 | 46,148 | |
Industria de Diseno Textil SA | 16,312 | 624,388 | |
Revolve Group, Inc. (a)(b) | 8,500 | 167,620 | |
thredUP, Inc. (a) | 400 | 1,408 | |
Wayfair LLC Class A (a) | 2,097 | 163,293 | |
1,607,294 | |||
Textiles, Apparel & Luxury Goods - 4.0% | |||
Brunello Cucinelli SpA | 3,512 | 297,138 | |
Capri Holdings Ltd. (a) | 10,761 | 397,189 | |
LVMH Moet Hennessy Louis Vuitton SE | 1,298 | 1,205,541 | |
Moncler SpA | 9,182 | 663,483 | |
On Holding AG (a) | 300 | 10,800 | |
Prada SpA | 108,538 | 768,919 | |
Ralph Lauren Corp. | 8,669 | 1,138,500 | |
4,481,570 | |||
TOTAL CONSUMER DISCRETIONARY | 17,965,128 | ||
CONSUMER STAPLES - 1.7% | |||
Beverages - 1.6% | |||
Boston Beer Co., Inc. Class A (a) | 600 | 222,864 | |
Monster Beverage Corp. | 26,724 | 1,536,363 | |
1,759,227 | |||
Personal Care Products - 0.1% | |||
The Beauty Health Co. (a)(b) | 9,600 | 79,584 | |
TOTAL CONSUMER STAPLES | 1,838,811 | ||
ENERGY - 4.4% | |||
Oil, Gas & Consumable Fuels - 4.4% | |||
Devon Energy Corp. | 2,021 | 109,134 | |
Hess Corp. | 14,790 | 2,244,087 | |
Reliance Industries Ltd. | 10,760 | 333,535 | |
Tourmaline Oil Corp. | 42,569 | 2,206,170 | |
4,892,926 | |||
FINANCIALS - 7.5% | |||
Banks - 0.6% | |||
Pinnacle Financial Partners, Inc. | 5,665 | 429,974 | |
Starling Bank Ltd. Series D (a)(d)(e) | 44,800 | 200,654 | |
630,628 | |||
Capital Markets - 3.7% | |||
Antin Infrastructure Partners SA | 962 | 17,273 | |
Ares Management Corp. | 7,477 | 741,868 | |
BlackRock, Inc. Class A | 3,304 | 2,441,160 | |
EQT AB | 2,811 | 67,135 | |
Intercontinental Exchange, Inc. | 5,091 | 584,447 | |
Morningstar, Inc. | 1,074 | 247,536 | |
4,099,419 | |||
Consumer Finance - 0.1% | |||
NerdWallet, Inc. (a) | 400 | 4,484 | |
Upstart Holdings, Inc. (a)(b) | 1,650 | 113,339 | |
117,823 | |||
Financial Services - 3.0% | |||
Berkshire Hathaway, Inc. Class B (a) | 3,521 | 1,239,251 | |
Block, Inc. Class A (a) | 15,520 | 1,249,826 | |
Jio Financial Services Ltd. (e) | 10,760 | 34,260 | |
Nuvei Corp. (Canada) (a)(c) | 7,008 | 238,994 | |
Remitly Global, Inc. (a) | 200 | 3,856 | |
Toast, Inc. (a) | 24,188 | 533,829 | |
3,300,016 | |||
Insurance - 0.1% | |||
Arthur J. Gallagher & Co. | 635 | 136,398 | |
TOTAL FINANCIALS | 8,284,284 | ||
HEALTH CARE - 8.0% | |||
Biotechnology - 2.1% | |||
Argenx SE ADR (a) | 2,405 | 1,213,274 | |
Blueprint Medicines Corp. (a) | 872 | 57,552 | |
Celldex Therapeutics, Inc. (a) | 5,436 | 192,217 | |
Prelude Therapeutics, Inc. (a) | 300 | 1,173 | |
Regeneron Pharmaceuticals, Inc. (a) | 944 | 700,363 | |
TG Therapeutics, Inc. (a) | 9,875 | 204,314 | |
2,368,893 | |||
Health Care Equipment & Supplies - 2.0% | |||
Inspire Medical Systems, Inc. (a) | 2,631 | 757,228 | |
Masimo Corp. (a) | 2,477 | 302,937 | |
Penumbra, Inc. (a) | 3,645 | 1,105,747 | |
TransMedics Group, Inc. (a) | 481 | 44,820 | |
2,210,732 | |||
Health Care Providers & Services - 2.0% | |||
Guardant Health, Inc. (a) | 2,678 | 104,496 | |
The Joint Corp. (a) | 1,173 | 15,836 | |
UnitedHealth Group, Inc. | 4,086 | 2,069,028 | |
2,189,360 | |||
Health Care Technology - 0.3% | |||
Doximity, Inc. (a)(b) | 1,932 | 69,030 | |
Evolent Health, Inc. (d) | 7,850 | 226,633 | |
295,663 | |||
Life Sciences Tools & Services - 1.5% | |||
Bio-Rad Laboratories, Inc. Class A (a) | 733 | 297,129 | |
Bruker Corp. | 4,388 | 301,543 | |
Danaher Corp. | 3,922 | 1,000,345 | |
Stevanato Group SpA | 1,249 | 39,006 | |
1,638,023 | |||
Pharmaceuticals - 0.1% | |||
Ventyx Biosciences, Inc. (a) | 4,324 | 160,204 | |
TOTAL HEALTH CARE | 8,862,875 | ||
INDUSTRIALS - 9.7% | |||
Aerospace & Defense - 0.6% | |||
HEICO Corp. Class A | 4,938 | 693,048 | |
Commercial Services & Supplies - 2.9% | |||
Cintas Corp. | 2,204 | 1,106,496 | |
GFL Environmental, Inc. | 17,222 | 587,959 | |
Rollins, Inc. | 34,134 | 1,393,691 | |
Waste Connections, Inc. (United States) | 824 | 116,324 | |
3,204,470 | |||
Construction & Engineering - 0.0% | |||
Bowman Consulting Group Ltd. (a) | 333 | 11,538 | |
Electrical Equipment - 0.0% | |||
Nextracker, Inc. Class A | 400 | 16,940 | |
Ground Transportation - 4.0% | |||
Uber Technologies, Inc. (a) | 89,826 | 4,442,794 | |
Professional Services - 2.2% | |||
Paycom Software, Inc. | 3,109 | 1,146,475 | |
TDCX, Inc. ADR (a) | 300 | 2,151 | |
Thomson Reuters Corp. | 9,074 | 1,224,868 | |
2,373,494 | |||
TOTAL INDUSTRIALS | 10,742,284 | ||
INFORMATION TECHNOLOGY - 28.5% | |||
Communications Equipment - 0.2% | |||
Arista Networks, Inc. (a) | 1,689 | 261,947 | |
Electronic Equipment, Instruments & Components - 0.0% | |||
Vontier Corp. | 1,083 | 33,497 | |
IT Services - 3.6% | |||
CGI, Inc. Class A (sub. vtg.) (a) | 890 | 90,441 | |
Cloudflare, Inc. (a) | 6,095 | 419,153 | |
Globant SA (a) | 4,300 | 751,339 | |
MongoDB, Inc. Class A (a) | 2,235 | 946,299 | |
Shopify, Inc. Class A (a) | 26,093 | 1,763,365 | |
3,970,597 | |||
Semiconductors & Semiconductor Equipment - 7.9% | |||
Analog Devices, Inc. | 11,476 | 2,289,806 | |
Monolithic Power Systems, Inc. | 779 | 435,843 | |
NVIDIA Corp. | 12,743 | 5,954,676 | |
8,680,325 | |||
Software - 16.8% | |||
Adobe, Inc. (a) | 3,731 | 2,037,760 | |
BlackLine, Inc. (a) | 6,322 | 367,182 | |
Dynatrace, Inc. (a) | 16,353 | 894,346 | |
Fortinet, Inc. (a) | 3,933 | 305,673 | |
HashiCorp, Inc. (a) | 200 | 5,922 | |
Intuit, Inc. | 1,223 | 625,809 | |
Microsoft Corp. | 25,739 | 8,646,242 | |
nCino, Inc. (a) | 84 | 2,717 | |
Oracle Corp. | 7,873 | 922,952 | |
Salesforce, Inc. (a) | 4,924 | 1,107,949 | |
Samsara, Inc. (a) | 800 | 22,352 | |
Synopsys, Inc. (a) | 1,096 | 495,173 | |
Tenable Holdings, Inc. (a) | 3,593 | 174,835 | |
UiPath, Inc. Class A (a) | 19,398 | 350,716 | |
Workday, Inc. Class A (a) | 9,989 | 2,368,692 | |
Zscaler, Inc. (a) | 1,454 | 233,193 | |
18,561,513 | |||
TOTAL INFORMATION TECHNOLOGY | 31,507,879 | ||
MATERIALS - 2.6% | |||
Metals & Mining - 2.6% | |||
Barrick Gold Corp. | 118,413 | 2,047,361 | |
First Quantum Minerals Ltd. | 28,978 | 859,462 | |
2,906,823 | |||
REAL ESTATE - 1.7% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Equity Residential (SBI) | 11,360 | 749,078 | |
Public Storage | 2,629 | 740,721 | |
1,489,799 | |||
Real Estate Management & Development - 0.4% | |||
Zillow Group, Inc. Class C (a) | 7,966 | 431,439 | |
TOTAL REAL ESTATE | 1,921,238 | ||
TOTAL COMMON STOCKS (Cost $78,357,380) | 105,189,753 | ||
Convertible Preferred Stocks - 0.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(d)(e) | 638 | 152,961 | |
Reddit, Inc. Series E (a)(d)(e) | 200 | 7,094 | |
160,055 | |||
INFORMATION TECHNOLOGY - 0.3% | |||
IT Services - 0.1% | |||
Yanka Industries, Inc.: | |||
Series E (a)(d)(e) | 2,484 | 18,531 | |
Series F (a)(d)(e) | 12,743 | 95,063 | |
113,594 | |||
Software - 0.2% | |||
Evozyne LLC Series A (a)(d)(e) | 1,000 | 17,240 | |
Moloco, Inc. Series A (d)(e) | 3,703 | 222,180 | |
239,420 | |||
TOTAL INFORMATION TECHNOLOGY | 353,014 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $759,264) | 513,069 | ||
Money Market Funds - 4.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.32% (f) | 4,855,665 | 4,856,636 | |
Fidelity Securities Lending Cash Central Fund 5.32% (f)(g) | 363,089 | 363,125 | |
TOTAL MONEY MARKET FUNDS (Cost $5,219,761) | 5,219,761 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $84,336,405) | 110,922,583 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (257,805) |
NET ASSETS - 100.0% | 110,664,778 |
Legend
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $420,707 or 0.4% of net assets. |
(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 $940,356 or 0.8% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
ByteDance Ltd. Series E1 | 11/18/20 | 69,908 |
Evolent Health, Inc. | 3/28/23 | 227,650 |
Evozyne LLC Series A | 4/09/21 | 22,470 |
Moloco, Inc. Series A | 6/26/23 | 222,180 |
Reddit, Inc. Series E | 5/18/21 | 8,495 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 85,152 |
Yanka Industries, Inc. Series E | 5/15/20 | 30,005 |
Yanka Industries, Inc. Series F | 4/08/21 | 406,206 |
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 5.32% | 2,147,926 | 9,902,058 | 7,193,348 | 33,684 | - | - | 4,856,636 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.32% | 320,400 | 3,020,970 | 2,978,245 | 2,391 | - | - | 363,125 | 0.0% |
Total | 2,468,326 | 12,923,028 | 10,171,593 | 36,075 | - | - | 5,219,761 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
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.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. 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 inputs to valuation techniques used to value investments are categorized 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 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 any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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