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59095530.00000000 2.926799371267 Long EC CORP US N 1 N N N 2024-08-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_315_20240731.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Disciplined Equity Fund
July 31, 2024
FDE-NPRT3-0924
1.804820.120
Common Stocks - 97.9%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 10.4%
 
 
 
Entertainment - 1.3%
 
 
 
Netflix, Inc. (a)
 
40,434
25,407
Interactive Media & Services - 9.1%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A
 
344,500
59,096
 Class C
 
301,000
52,118
Meta Platforms, Inc. Class A
 
152,577
72,448
 
 
 
183,662
TOTAL COMMUNICATION SERVICES
 
 
209,069
CONSUMER DISCRETIONARY - 9.5%
 
 
 
Broadline Retail - 4.8%
 
 
 
Amazon.com, Inc. (a)
 
520,260
97,278
Hotels, Restaurants & Leisure - 1.9%
 
 
 
Airbnb, Inc. Class A (a)
 
69,700
9,727
Booking Holdings, Inc.
 
2,100
7,802
Chipotle Mexican Grill, Inc. (a)
 
193,600
10,516
Domino's Pizza, Inc.
 
3,800
1,629
Hilton Worldwide Holdings, Inc.
 
21,166
4,544
Marriott International, Inc. Class A
 
19,900
4,523
 
 
 
38,741
Household Durables - 2.1%
 
 
 
NVR, Inc. (a)
 
2,055
17,688
PulteGroup, Inc.
 
69,100
9,121
TopBuild Corp. (a)
 
31,100
14,883
 
 
 
41,692
Specialty Retail - 0.6%
 
 
 
Dick's Sporting Goods, Inc.
 
22,600
4,890
TJX Companies, Inc.
 
61,200
6,917
 
 
 
11,807
Textiles, Apparel & Luxury Goods - 0.1%
 
 
 
lululemon athletica, Inc. (a)
 
8,800
2,276
TOTAL CONSUMER DISCRETIONARY
 
 
191,794
CONSUMER STAPLES - 2.9%
 
 
 
Beverages - 1.2%
 
 
 
Monster Beverage Corp. (a)
 
146,100
7,517
The Coca-Cola Co.
 
265,100
17,693
 
 
 
25,210
Consumer Staples Distribution & Retail - 1.7%
 
 
 
Costco Wholesale Corp.
 
41,315
33,961
TOTAL CONSUMER STAPLES
 
 
59,171
ENERGY - 1.6%
 
 
 
Oil, Gas & Consumable Fuels - 1.6%
 
 
 
ConocoPhillips Co.
 
68,200
7,584
Devon Energy Corp.
 
72,400
3,405
Diamondback Energy, Inc.
 
13,100
2,650
EOG Resources, Inc.
 
43,267
5,486
Exxon Mobil Corp.
 
16,400
1,945
Occidental Petroleum Corp.
 
61,500
3,740
Ovintiv, Inc.
 
42,000
1,950
Valero Energy Corp.
 
28,100
4,544
 
 
 
31,304
FINANCIALS - 10.6%
 
 
 
Banks - 4.1%
 
 
 
Bank of America Corp.
 
627,883
25,310
JPMorgan Chase & Co.
 
206,114
43,861
KeyCorp
 
108,300
1,747
Wells Fargo & Co.
 
204,100
12,111
 
 
 
83,029
Capital Markets - 2.7%
 
 
 
Coinbase Global, Inc. (a)
 
8,000
1,795
KKR & Co. LP
 
96,100
11,864
LPL Financial
 
14,500
3,212
Moody's Corp.
 
40,039
18,277
MSCI, Inc.
 
9,644
5,215
S&P Global, Inc.
 
27,458
13,310
 
 
 
53,673
Financial Services - 3.1%
 
 
 
MasterCard, Inc. Class A
 
63,911
29,636
Visa, Inc. Class A
 
127,834
33,962
 
 
 
63,598
Insurance - 0.7%
 
 
 
Arthur J. Gallagher & Co.
 
31,300
8,873
The Travelers Companies, Inc.
 
26,600
5,757
 
 
 
14,630
TOTAL FINANCIALS
 
 
214,930
HEALTH CARE - 13.0%
 
 
 
Biotechnology - 1.0%
 
 
 
Alnylam Pharmaceuticals, Inc. (a)
 
12,700
3,016
Vertex Pharmaceuticals, Inc. (a)
 
35,600
17,648
 
 
 
20,664
Health Care Equipment & Supplies - 2.6%
 
 
 
Boston Scientific Corp. (a)
 
300,229
22,181
DexCom, Inc. (a)
 
35,600
2,414
Intuitive Surgical, Inc. (a)
 
29,714
13,211
Stryker Corp.
 
20,900
6,844
TransMedics Group, Inc. (a)
 
47,800
6,800
 
 
 
51,450
Health Care Providers & Services - 3.1%
 
 
 
Cigna Group
 
3,500
1,220
Elevance Health, Inc.
 
4,100
2,181
Tenet Healthcare Corp. (a)
 
59,900
8,967
UnitedHealth Group, Inc.
 
87,875
50,630
 
 
 
62,998
Life Sciences Tools & Services - 3.3%
 
 
 
Danaher Corp.
 
112,445
31,156
Mettler-Toledo International, Inc. (a)
 
5,664
8,615
Thermo Fisher Scientific, Inc.
 
42,400
26,006
 
 
 
65,777
Pharmaceuticals - 3.0%
 
 
 
Eli Lilly & Co.
 
64,200
51,634
Zoetis, Inc. Class A
 
54,744
9,856
 
 
 
61,490
TOTAL HEALTH CARE
 
 
262,379
INDUSTRIALS - 12.5%
 
 
 
Aerospace & Defense - 3.1%
 
 
 
General Electric Co.
 
164,700
28,032
HEICO Corp. Class A
 
77,047
14,647
The Boeing Co. (a)
 
14,700
2,802
TransDigm Group, Inc.
 
12,500
16,178
 
 
 
61,659
Building Products - 1.4%
 
 
 
Carlisle Companies, Inc.
 
19,300
8,079
The AZEK Co., Inc. Class A, (a)
 
201,700
9,054
Trane Technologies PLC
 
32,200
10,764
 
 
 
27,897
Commercial Services & Supplies - 1.1%
 
 
 
Cintas Corp.
 
16,563
12,653
Copart, Inc.
 
191,152
10,003
 
 
 
22,656
Construction & Engineering - 0.9%
 
 
 
Comfort Systems U.S.A., Inc.
 
22,900
7,612
EMCOR Group, Inc.
 
27,800
10,437
 
 
 
18,049
Electrical Equipment - 2.5%
 
 
 
AMETEK, Inc.
 
55,638
9,652
Eaton Corp. PLC
 
100,800
30,723
Vertiv Holdings Co.
 
132,600
10,436
 
 
 
50,811
Ground Transportation - 0.2%
 
 
 
Old Dominion Freight Lines, Inc.
 
19,600
4,120
Machinery - 3.2%
 
 
 
Ingersoll Rand, Inc.
 
41,200
4,136
ITT, Inc.
 
59,739
8,451
Parker Hannifin Corp.
 
44,500
24,972
Pentair PLC
 
47,500
4,174
Snap-On, Inc.
 
32,700
9,386
Westinghouse Air Brake Tech Co.
 
83,300
13,424
 
 
 
64,543
Trading Companies & Distributors - 0.1%
 
 
 
FTAI Aviation Ltd.
 
11,200
1,248
United Rentals, Inc.
 
1,400
1,060
 
 
 
2,308
TOTAL INDUSTRIALS
 
 
252,043
INFORMATION TECHNOLOGY - 33.3%
 
 
 
Electronic Equipment, Instruments & Components - 1.3%
 
 
 
Amphenol Corp. Class A
 
288,180
18,518
CDW Corp.
 
36,773
8,021
 
 
 
26,539
Semiconductors & Semiconductor Equipment - 13.3%
 
 
 
Advanced Micro Devices, Inc. (a)
 
115,700
16,716
Broadcom, Inc.
 
92,100
14,799
KLA Corp.
 
21,500
17,696
Lam Research Corp.
 
19,067
17,565
Micron Technology, Inc.
 
141,200
15,507
Monolithic Power Systems, Inc.
 
16,800
14,500
NVIDIA Corp.
 
1,367,080
159,976
NXP Semiconductors NV
 
14,800
3,895
ON Semiconductor Corp. (a)
 
32,900
2,574
Qorvo, Inc. (a)
 
37,400
4,481
 
 
 
267,709
Software - 13.1%
 
 
 
Adobe, Inc. (a)
 
29,459
16,251
Cadence Design Systems, Inc. (a)
 
65,747
17,598
Crowdstrike Holdings, Inc. (a)
 
6,600
1,531
Datadog, Inc. Class A (a)
 
8,700
1,013
Fortinet, Inc. (a)
 
130,360
7,566
HubSpot, Inc. (a)
 
2,062
1,025
Intuit, Inc.
 
19,526
12,640
Microsoft Corp.
 
416,738
174,341
Nutanix, Inc. Class A (a)
 
19,400
980
Palo Alto Networks, Inc. (a)
 
21,000
6,819
Salesforce, Inc.
 
17,694
4,579
ServiceNow, Inc. (a)
 
3,952
3,218
Synopsys, Inc. (a)
 
31,400
17,531
 
 
 
265,092
Technology Hardware, Storage & Peripherals - 5.6%
 
 
 
Apple, Inc.
 
509,607
113,174
TOTAL INFORMATION TECHNOLOGY
 
 
672,514
MATERIALS - 2.3%
 
 
 
Chemicals - 0.6%
 
 
 
CF Industries Holdings, Inc.
 
51,600
3,942
Sherwin-Williams Co.
 
25,983
9,115
 
 
 
13,057
Construction Materials - 1.4%
 
 
 
Martin Marietta Materials, Inc.
 
23,100
13,706
Vulcan Materials Co.
 
50,000
13,726
 
 
 
27,432
Containers & Packaging - 0.3%
 
 
 
Ball Corp.
 
98,900
6,313
TOTAL MATERIALS
 
 
46,802
REAL ESTATE - 1.1%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.6%
 
 
 
American Tower Corp.
 
57,100
12,585
Real Estate Management & Development - 0.5%
 
 
 
Jones Lang LaSalle, Inc. (a)
 
40,100
10,061
TOTAL REAL ESTATE
 
 
22,646
UTILITIES - 0.7%
 
 
 
Electric Utilities - 0.3%
 
 
 
Constellation Energy Corp.
 
31,100
5,903
Independent Power and Renewable Electricity Producers - 0.4%
 
 
 
Vistra Corp.
 
108,900
8,627
TOTAL UTILITIES
 
 
14,530
 
TOTAL COMMON STOCKS
 (Cost $929,473)
 
 
 
1,977,182
 
 
 
 
Money Market Funds - 2.0%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 5.39% (b)
 
 (Cost $39,583)
 
 
39,574,592
39,583
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
 (Cost $969,056)
 
 
 
2,016,765
NET OTHER ASSETS (LIABILITIES) - 0.1%  
1,723
NET ASSETS - 100.0%
2,018,488
 
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
Legend
 
(a)
Non-income producing
 
(b)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
 
Affiliated Central Funds
 
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 5.39%
7,011
238,922
206,350
348
-
-
39,583
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
-
57,288
57,288
-
-
-
-
0.0%
Total
7,011
296,210
263,638
348
-
-
39,583
 
 
 
 
 
 
 
 
 
 
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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