UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-215
Fidelity Hastings Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
William C. Coffey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | June 30 |
Date of reporting period: | September 30, 2018 |
Item 1.
Schedule of Investments
Quarterly Holdings Report
for
Fidelity® Fund
September 30, 2018
Schedule of Investments September 30, 2018 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.8% | |||
Shares | Value (000s) | ||
CONSUMER DISCRETIONARY - 11.8% | |||
Auto Components - 0.6% | |||
Aptiv PLC | 267,415 | $22,436 | |
Lear Corp. | 33,600 | 4,872 | |
27,308 | |||
Diversified Consumer Services - 0.3% | |||
Weight Watchers International, Inc. (a) | 191,028 | 13,752 | |
Hotels, Restaurants & Leisure - 1.7% | |||
Domino's Pizza, Inc. | 54,000 | 15,919 | |
Vail Resorts, Inc. | 17,000 | 4,665 | |
Wyndham Destinations, Inc. | 580,000 | 25,149 | |
Wyndham Hotels & Resorts, Inc. | 612,000 | 34,009 | |
79,742 | |||
Internet & Direct Marketing Retail - 5.1% | |||
Amazon.com, Inc. (a) | 98,100 | 196,494 | |
The Booking Holdings, Inc. (a) | 25,200 | 49,997 | |
246,491 | |||
Media - 0.5% | |||
Comcast Corp. Class A | 710,000 | 25,141 | |
Specialty Retail - 3.6% | |||
Home Depot, Inc. | 389,000 | 80,581 | |
Lowe's Companies, Inc. | 510,000 | 58,558 | |
TJX Companies, Inc. | 311,917 | 34,941 | |
174,080 | |||
TOTAL CONSUMER DISCRETIONARY | 566,514 | ||
CONSUMER STAPLES - 4.4% | |||
Beverages - 0.5% | |||
Brown-Forman Corp. Class B (non-vtg.) | 110,000 | 5,561 | |
PepsiCo, Inc. | 180,000 | 20,124 | |
25,685 | |||
Food & Staples Retailing - 2.4% | |||
Costco Wholesale Corp. | 238,000 | 55,901 | |
Walmart, Inc. | 614,321 | 57,691 | |
113,592 | |||
Personal Products - 0.7% | |||
Estee Lauder Companies, Inc. Class A | 240,000 | 34,877 | |
Tobacco - 0.8% | |||
Philip Morris International, Inc. | 440,150 | 35,890 | |
TOTAL CONSUMER STAPLES | 210,044 | ||
ENERGY - 3.2% | |||
Oil, Gas & Consumable Fuels - 3.2% | |||
ConocoPhillips Co. | 700,000 | 54,180 | |
Marathon Petroleum Corp. | 224,700 | 17,969 | |
Phillips 66 Co. | 233,000 | 26,264 | |
Valero Energy Corp. | 466,071 | 53,016 | |
151,429 | |||
FINANCIALS - 16.7% | |||
Banks - 9.8% | |||
Bank of America Corp. | 5,265,000 | 155,107 | |
Citigroup, Inc. | 667,066 | 47,855 | |
JPMorgan Chase & Co. | 1,776,000 | 200,404 | |
SunTrust Banks, Inc. | 991,000 | 66,189 | |
469,555 | |||
Capital Markets - 3.2% | |||
Ameriprise Financial, Inc. | 191,000 | 28,203 | |
Charles Schwab Corp. | 124,648 | 6,126 | |
E*TRADE Financial Corp. (a) | 456,000 | 23,890 | |
MSCI, Inc. | 217,600 | 38,604 | |
S&P Global, Inc. | 291,200 | 56,898 | |
153,721 | |||
Insurance - 3.7% | |||
AFLAC, Inc. | 1,430,931 | 67,354 | |
Allstate Corp. | 640,000 | 63,168 | |
Marsh & McLennan Companies, Inc. | 90,000 | 7,445 | |
Progressive Corp. | 500,000 | 35,520 | |
173,487 | |||
TOTAL FINANCIALS | 796,763 | ||
HEALTH CARE - 17.7% | |||
Biotechnology - 4.0% | |||
AbbVie, Inc. | 559,000 | 52,870 | |
Amgen, Inc. | 256,200 | 53,108 | |
Celgene Corp. (a) | 408,400 | 36,548 | |
Gilead Sciences, Inc. | 620,000 | 47,870 | |
190,396 | |||
Health Care Equipment & Supplies - 5.6% | |||
Abbott Laboratories | 630,000 | 46,217 | |
Baxter International, Inc. | 442,000 | 34,074 | |
Becton, Dickinson & Co. | 231,000 | 60,291 | |
Boston Scientific Corp. (a) | 670,000 | 25,795 | |
Danaher Corp. | 468,000 | 50,853 | |
Intuitive Surgical, Inc. (a) | 57,000 | 32,718 | |
ResMed, Inc. | 174,000 | 20,069 | |
270,017 | |||
Health Care Providers & Services - 6.5% | |||
AmerisourceBergen Corp. | 53,025 | 4,890 | |
Cigna Corp. | 335,000 | 69,764 | |
Elanco Animal Health, Inc. | 22,400 | 782 | |
Humana, Inc. | 189,300 | 64,082 | |
UnitedHealth Group, Inc. | 543,969 | 144,718 | |
Wellcare Health Plans, Inc. (a) | 87,700 | 28,107 | |
312,343 | |||
Life Sciences Tools & Services - 0.5% | |||
Agilent Technologies, Inc. | 83,000 | 5,855 | |
Illumina, Inc. (a) | 22,000 | 8,075 | |
Waters Corp. (a) | 40,000 | 7,787 | |
21,717 | |||
Pharmaceuticals - 1.1% | |||
Johnson & Johnson | 310,000 | 42,833 | |
Zoetis, Inc. Class A | 124,520 | 11,401 | |
54,234 | |||
TOTAL HEALTH CARE | 848,707 | ||
INDUSTRIALS - 7.7% | |||
Aerospace & Defense - 4.2% | |||
Huntington Ingalls Industries, Inc. | 186,300 | 47,708 | |
Northrop Grumman Corp. | 129,000 | 40,941 | |
Raytheon Co. | 390,000 | 80,597 | |
The Boeing Co. | 81,041 | 30,139 | |
199,385 | |||
Building Products - 0.2% | |||
Masco Corp. | 278,350 | 10,188 | |
Commercial Services & Supplies - 0.7% | |||
Copart, Inc. (a) | 98,800 | 5,091 | |
KAR Auction Services, Inc. | 468,457 | 27,962 | |
33,053 | |||
Electrical Equipment - 0.8% | |||
AMETEK, Inc. | 60,000 | 4,747 | |
Fortive Corp. (b) | 415,000 | 34,943 | |
39,690 | |||
Industrial Conglomerates - 0.9% | |||
3M Co. | 190,000 | 40,035 | |
Machinery - 0.1% | |||
Cummins, Inc. | 38,000 | 5,551 | |
Road & Rail - 0.8% | |||
Norfolk Southern Corp. | 218,000 | 39,349 | |
TOTAL INDUSTRIALS | 367,251 | ||
INFORMATION TECHNOLOGY - 34.0% | |||
Electronic Equipment & Components - 1.3% | |||
Amphenol Corp. Class A | 648,002 | 60,925 | |
Internet Software & Services - 7.1% | |||
Alphabet, Inc.: | |||
Class A (a) | 171,000 | 206,411 | |
Class C (a) | 25,000 | 29,837 | |
Facebook, Inc. Class A (a) | 634,900 | 104,416 | |
340,664 | |||
IT Services - 3.7% | |||
Adyen BV (c) | 2,400 | 1,959 | |
MasterCard, Inc. Class A | 327,000 | 72,793 | |
PayPal Holdings, Inc. (a) | 60,000 | 5,270 | |
Visa, Inc. Class A | 630,000 | 94,557 | |
174,579 | |||
Semiconductors & Semiconductor Equipment - 3.6% | |||
Applied Materials, Inc. | 463,617 | 17,919 | |
Intel Corp. | 1,325,100 | 62,664 | |
Lam Research Corp. | 165,000 | 25,031 | |
ON Semiconductor Corp. (a) | 782,523 | 14,422 | |
Texas Instruments, Inc. | 494,300 | 53,033 | |
173,069 | |||
Software - 12.7% | |||
Activision Blizzard, Inc. | 264,148 | 21,974 | |
Adobe Systems, Inc. (a) | 260,000 | 70,187 | |
Black Knight, Inc. (a) | 132,100 | 6,863 | |
Check Point Software Technologies Ltd. (a) | 141,000 | 16,591 | |
Citrix Systems, Inc. (a) | 501,200 | 55,713 | |
Electronic Arts, Inc. (a) | 343,400 | 41,376 | |
Microsoft Corp. | 2,467,939 | 282,256 | |
Parametric Technology Corp. (a) | 196,000 | 20,813 | |
Red Hat, Inc. (a) | 113,000 | 15,400 | |
Salesforce.com, Inc. (a) | 275,256 | 43,774 | |
Take-Two Interactive Software, Inc. (a) | 243,000 | 33,532 | |
608,479 | |||
Technology Hardware, Storage & Peripherals - 5.6% | |||
Apple, Inc. | 1,187,000 | 267,953 | |
TOTAL INFORMATION TECHNOLOGY | 1,625,669 | ||
MATERIALS - 1.0% | |||
Chemicals - 1.0% | |||
LyondellBasell Industries NV Class A | 54,000 | 5,536 | |
Sherwin-Williams Co. | 53,400 | 24,308 | |
The Chemours Co. LLC | 501,000 | 19,759 | |
49,603 | |||
REAL ESTATE - 0.6% | |||
Equity Real Estate Investment Trusts (REITs) - 0.6% | |||
American Tower Corp. | 202,000 | 29,351 | |
TELECOMMUNICATION SERVICES - 0.4% | |||
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. (a) | 240,000 | 16,843 | |
UTILITIES - 1.3% | |||
Electric Utilities - 1.0% | |||
NextEra Energy, Inc. | 292,000 | 48,939 | |
Independent Power and Renewable Electricity Producers - 0.3% | |||
NRG Energy, Inc. | 362,000 | 13,539 | |
TOTAL UTILITIES | 62,478 | ||
TOTAL COMMON STOCKS | |||
(Cost $2,952,832) | 4,724,652 | ||
Money Market Funds - 2.0% | |||
Fidelity Cash Central Fund, 2.11% (d) | 70,263,649 | 70,278 | |
Fidelity Securities Lending Cash Central Fund 2.11% (d)(e) | 25,999,300 | 26,002 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $96,280) | 96,280 | ||
TOTAL INVESTMENT IN SECURITIES - 100.8% | |||
(Cost $3,049,112) | 4,820,932 | ||
NET OTHER ASSETS (LIABILITIES) - (0.8)% | (38,943) | ||
NET ASSETS - 100% | $4,781,989 |
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 $1,959,000 or 0.0% of net assets.
(d) 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.
(e) Investment made with cash collateral received from securities on loan.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
(Amounts in thousands) | |
Fidelity Cash Central Fund | $357 |
Fidelity Securities Lending Cash Central Fund | 1 |
Total | $358 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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 open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
Quarterly Holdings Report
for
Fidelity® Growth Discovery Fund
September 30, 2018
Schedule of Investments September 30, 2018 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 96.9% | |||
Shares | Value (000s) | ||
CONSUMER DISCRETIONARY - 14.0% | |||
Diversified Consumer Services - 0.6% | |||
Grand Canyon Education, Inc. (a) | 110,300 | $12,442 | |
Hotels, Restaurants & Leisure - 0.8% | |||
Domino's Pizza, Inc. | 6,700 | 1,975 | |
Hilton Worldwide Holdings, Inc. | 113,612 | 9,178 | |
Wingstop, Inc. | 82,300 | 5,619 | |
16,772 | |||
Household Durables - 0.4% | |||
Panasonic Corp. | 666,400 | 7,724 | |
Internet & Direct Marketing Retail - 6.6% | |||
Amazon.com, Inc. (a) | 66,500 | 133,200 | |
Media - 1.0% | |||
Charter Communications, Inc. Class A (a) | 58,600 | 19,097 | |
China Literature Ltd. (a)(b) | 286 | 2 | |
19,099 | |||
Specialty Retail - 3.8% | |||
Home Depot, Inc. | 306,024 | 63,393 | |
Ross Stores, Inc. | 20,800 | 2,061 | |
Ulta Beauty, Inc. (a) | 40,300 | 11,369 | |
76,823 | |||
Textiles, Apparel & Luxury Goods - 0.8% | |||
LVMH Moet Hennessy - Louis Vuitton SA | 37,780 | 13,350 | |
Michael Kors Holdings Ltd. (a) | 34,900 | 2,393 | |
Pinduoduo, Inc. ADR (c) | 15,000 | 394 | |
Puma AG | 208 | 103 | |
16,240 | |||
TOTAL CONSUMER DISCRETIONARY | 282,300 | ||
CONSUMER STAPLES - 3.8% | |||
Beverages - 1.4% | |||
Constellation Brands, Inc. Class A (sub. vtg.) | 39,100 | 8,431 | |
Fever-Tree Drinks PLC | 99,067 | 4,659 | |
Kweichow Moutai Co. Ltd. (A Shares) | 48,729 | 5,179 | |
Monster Beverage Corp. (a) | 80,700 | 4,703 | |
Pernod Ricard SA ADR | 133,100 | 4,356 | |
27,328 | |||
Food & Staples Retailing - 0.1% | |||
BJ's Wholesale Club Holdings, Inc. | 84,200 | 2,255 | |
Food Products - 0.4% | |||
McCormick & Co., Inc. (non-vtg.) | 38,000 | 5,007 | |
The Simply Good Foods Co. (a) | 146,800 | 2,855 | |
7,862 | |||
Household Products - 0.5% | |||
Energizer Holdings, Inc. | 167,600 | 9,830 | |
Personal Products - 1.4% | |||
Coty, Inc. Class A | 321,300 | 4,036 | |
Estee Lauder Companies, Inc. Class A | 81,900 | 11,902 | |
Unilever NV (NY Reg.) | 231,400 | 12,854 | |
28,792 | |||
TOTAL CONSUMER STAPLES | 76,067 | ||
ENERGY - 2.5% | |||
Oil, Gas & Consumable Fuels - 2.5% | |||
Cheniere Energy, Inc. (a) | 549,600 | 38,192 | |
Reliance Industries Ltd. | 697,453 | 12,100 | |
50,292 | |||
FINANCIALS - 8.3% | |||
Banks - 2.7% | |||
First Republic Bank | 147,000 | 14,112 | |
HDFC Bank Ltd. | 36,455 | 1,007 | |
HDFC Bank Ltd. sponsored ADR | 42,900 | 4,037 | |
JPMorgan Chase & Co. | 180,100 | 20,322 | |
M&T Bank Corp. | 83,800 | 13,788 | |
Metro Bank PLC (a) | 25,300 | 981 | |
54,247 | |||
Capital Markets - 5.6% | |||
Charles Schwab Corp. | 1,023,500 | 50,305 | |
CME Group, Inc. | 220,445 | 37,522 | |
JMP Group, Inc. | 75,200 | 399 | |
MSCI, Inc. | 78,800 | 13,980 | |
The Blackstone Group LP | 276,600 | 10,533 | |
112,739 | |||
Diversified Financial Services - 0.0% | |||
Prosegur Cash SA (b) | 373,447 | 819 | |
TOTAL FINANCIALS | 167,805 | ||
HEALTH CARE - 11.9% | |||
Biotechnology - 2.8% | |||
AC Immune SA (a) | 140,900 | 1,127 | |
Acceleron Pharma, Inc. (a) | 39,500 | 2,261 | |
Affimed NV (a) | 200,400 | 872 | |
Biogen, Inc. (a) | 62,000 | 21,905 | |
Calyxt, Inc. (a) | 100,888 | 1,541 | |
Cytokinetics, Inc. (a) | 147,971 | 1,458 | |
Insmed, Inc. (a) | 343,378 | 6,943 | |
Prothena Corp. PLC (a) | 96,400 | 1,261 | |
Rubius Therapeutics, Inc. | 18,700 | 449 | |
Vertex Pharmaceuticals, Inc. (a) | 94,693 | 18,251 | |
56,068 | |||
Health Care Equipment & Supplies - 5.4% | |||
Becton, Dickinson & Co. | 133,000 | 34,713 | |
Boston Scientific Corp. (a) | 459,700 | 17,698 | |
Danaher Corp. | 120,755 | 13,121 | |
Intuitive Surgical, Inc. (a) | 63,800 | 36,621 | |
ResMed, Inc. | 54,000 | 6,228 | |
108,381 | |||
Health Care Providers & Services - 0.9% | |||
Elanco Animal Health, Inc. | 9,400 | 328 | |
National Vision Holdings, Inc. | 5,600 | 253 | |
Neuronetics, Inc. | 4,200 | 135 | |
UnitedHealth Group, Inc. | 64,600 | 17,186 | |
17,902 | |||
Health Care Technology - 0.3% | |||
Veeva Systems, Inc. Class A (a) | 56,600 | 6,162 | |
Life Sciences Tools & Services - 0.5% | |||
Codexis, Inc. (a) | 81,800 | 1,403 | |
Mettler-Toledo International, Inc. (a) | 8,600 | 5,237 | |
Sartorius Stedim Biotech | 27,000 | 3,715 | |
10,355 | |||
Pharmaceuticals - 2.0% | |||
AstraZeneca PLC sponsored ADR | 698,100 | 27,624 | |
Mallinckrodt PLC (a) | 173,600 | 5,088 | |
Mylan NV (a) | 232,000 | 8,491 | |
41,203 | |||
TOTAL HEALTH CARE | 240,071 | ||
INDUSTRIALS - 6.5% | |||
Aerospace & Defense - 0.4% | |||
TransDigm Group, Inc. | 19,727 | 7,344 | |
Commercial Services & Supplies - 0.6% | |||
Copart, Inc. (a) | 237,500 | 12,238 | |
Electrical Equipment - 2.1% | |||
AMETEK, Inc. | 198,400 | 15,697 | |
Fortive Corp. (c) | 232,127 | 19,545 | |
Nidec Corp. | 43,000 | 6,186 | |
41,428 | |||
Industrial Conglomerates - 0.4% | |||
Roper Technologies, Inc. | 28,914 | 8,565 | |
Machinery - 1.9% | |||
Allison Transmission Holdings, Inc. | 466,400 | 24,257 | |
Gardner Denver Holdings, Inc. (a) | 481,300 | 13,640 | |
Rational AG | 2,000 | 1,449 | |
39,346 | |||
Professional Services - 1.1% | |||
IHS Markit Ltd. (a) | 170,000 | 9,173 | |
TransUnion Holding Co., Inc. | 178,100 | 13,105 | |
22,278 | |||
TOTAL INDUSTRIALS | 131,199 | ||
INFORMATION TECHNOLOGY - 45.0% | |||
Electronic Equipment & Components - 0.7% | |||
Amphenol Corp. Class A | 20,700 | 1,946 | |
Cognex Corp. | 111,300 | 6,213 | |
Zebra Technologies Corp. Class A (a) | 31,500 | 5,570 | |
13,729 | |||
Internet Software & Services - 12.6% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 64,500 | 10,627 | |
Alphabet, Inc. Class A (a) | 114,152 | 137,787 | |
DocuSign, Inc. (c) | 5,200 | 273 | |
Dropbox, Inc. Class A (a) | 8,800 | 236 | |
Facebook, Inc. Class A (a) | 149,591 | 24,602 | |
GoDaddy, Inc. (a) | 186,000 | 15,511 | |
MercadoLibre, Inc. | 21,200 | 7,218 | |
NetEase, Inc. ADR | 15,000 | 3,424 | |
Shopify, Inc. Class A (a) | 44,500 | 7,314 | |
Stamps.com, Inc. (a) | 79,171 | 17,908 | |
Tencent Holdings Ltd. | 337,800 | 13,793 | |
VeriSign, Inc. (a) | 96,100 | 15,388 | |
Wix.com Ltd. (a) | 900 | 108 | |
254,189 | |||
IT Services - 7.6% | |||
Adyen BV (b) | 4,037 | 3,295 | |
Fidelity National Information Services, Inc. | 127,700 | 13,928 | |
Global Payments, Inc. | 108,100 | 13,772 | |
MasterCard, Inc. Class A | 69,500 | 15,471 | |
PayPal Holdings, Inc. (a) | 343,700 | 30,191 | |
Square, Inc. (a) | 130,300 | 12,901 | |
Visa, Inc. Class A | 429,596 | 64,478 | |
154,036 | |||
Semiconductors & Semiconductor Equipment - 3.2% | |||
ASML Holding NV | 48,200 | 9,063 | |
Broadcom, Inc. | 23,200 | 5,724 | |
Cree, Inc. (a) | 66,200 | 2,507 | |
Maxim Integrated Products, Inc. | 153,705 | 8,667 | |
Monolithic Power Systems, Inc. | 36,818 | 4,622 | |
NVIDIA Corp. | 103,300 | 29,029 | |
Semtech Corp. (a) | 79,000 | 4,392 | |
64,004 | |||
Software - 16.3% | |||
Activision Blizzard, Inc. | 173,887 | 14,466 | |
Adobe Systems, Inc. (a) | 210,900 | 56,932 | |
Autodesk, Inc. (a) | 83,600 | 13,051 | |
Avalara, Inc. (c) | 2,575 | 90 | |
Black Knight, Inc. (a) | 189,700 | 9,855 | |
Electronic Arts, Inc. (a) | 108,434 | 13,065 | |
Intuit, Inc. | 115,400 | 26,242 | |
Microsoft Corp. | 1,184,800 | 135,506 | |
Pluralsight, Inc. | 38,900 | 1,245 | |
Red Hat, Inc. (a) | 86,500 | 11,788 | |
Salesforce.com, Inc. (a) | 228,464 | 36,333 | |
Splunk, Inc. (a) | 55,500 | 6,711 | |
Zscaler, Inc. (a) | 80,172 | 3,269 | |
328,553 | |||
Technology Hardware, Storage & Peripherals - 4.6% | |||
Apple, Inc. | 417,100 | 94,156 | |
TOTAL INFORMATION TECHNOLOGY | 908,667 | ||
MATERIALS - 3.3% | |||
Chemicals - 3.2% | |||
CF Industries Holdings, Inc. | 199,800 | 10,877 | |
DowDuPont, Inc. | 367,700 | 23,647 | |
Sherwin-Williams Co. | 25,100 | 11,426 | |
The Chemours Co. LLC | 205,000 | 8,085 | |
Umicore SA | 207,391 | 11,599 | |
65,634 | |||
Containers & Packaging - 0.1% | |||
Aptargroup, Inc. | 18,300 | 1,972 | |
TOTAL MATERIALS | 67,606 | ||
REAL ESTATE - 1.6% | |||
Equity Real Estate Investment Trusts (REITs) - 1.6% | |||
American Tower Corp. | 227,200 | 33,012 | |
TOTAL COMMON STOCKS | |||
(Cost $1,287,037) | 1,957,019 | ||
Preferred Stocks - 0.6% | |||
Convertible Preferred Stocks - 0.5% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Household Durables - 0.0% | |||
Blu Homes, Inc. Series A, 5.00% (a)(d)(e) | 239,736 | 5 | |
HEALTH CARE - 0.1% | |||
Biotechnology - 0.1% | |||
BioNTech AG Series A (d)(e) | 7,174 | 2,114 | |
INFORMATION TECHNOLOGY - 0.4% | |||
Internet Software & Services - 0.4% | |||
Uber Technologies, Inc. Series D, 8.00% (a)(d)(e) | 162,572 | 7,929 | |
IT Services - 0.0% | |||
AppNexus, Inc. Series E (Escrow) (a)(d)(e) | 48,212 | 47 | |
TOTAL INFORMATION TECHNOLOGY | 7,976 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS | 10,095 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
FINANCIALS - 0.1% | |||
Banks - 0.1% | |||
Itau Unibanco Holding SA sponsored ADR | 269,900 | 2,964 | |
TOTAL PREFERRED STOCKS | |||
(Cost $8,977) | 13,059 | ||
Money Market Funds - 2.7% | |||
Fidelity Cash Central Fund, 2.11% (f) | 32,933,884 | 32,940 | |
Fidelity Securities Lending Cash Central Fund 2.11% (f)(g) | 20,850,072 | 20,852 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $53,792) | 53,792 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% | |||
(Cost $1,349,806) | 2,023,870 | ||
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (3,862) | ||
NET ASSETS - 100% | $2,020,008 |
Legend
(a) Non-income producing
(b) 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 $4,116,000 or 0.2% of net assets.
(c) Security or a portion of the security is on loan at period end.
(d) Restricted securities - 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 $10,095,000 or 0.5% 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 (000s) |
AppNexus, Inc. Series E (Escrow) | 8/1/14 | $87 |
BioNTech AG Series A | 12/29/17 | $1,571 |
Blu Homes, Inc. Series A, 5.00% | 6/21/13 | $1,108 |
Uber Technologies, Inc. Series D, 8.00% | 6/6/14 | $2,522 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
(Amounts in thousands) | |
Fidelity Cash Central Fund | $137 |
Fidelity Securities Lending Cash Central Fund | 5 |
Total | $142 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
The following is a summary of the inputs used, as of September 30, 2018, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
(Amounts in thousands) | ||||
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $282,305 | $261,226 | $21,074 | $5 |
Consumer Staples | 76,067 | 76,067 | -- | -- |
Energy | 50,292 | 50,292 | -- | -- |
Financials | 170,769 | 169,762 | 1,007 | -- |
Health Care | 242,185 | 240,071 | -- | 2,114 |
Industrials | 131,199 | 131,199 | -- | -- |
Information Technology | 916,643 | 894,874 | 13,793 | 7,976 |
Materials | 67,606 | 67,606 | -- | -- |
Real Estate | 33,012 | 33,012 | -- | -- |
Money Market Funds | 53,792 | 53,792 | -- | -- |
Total Investments in Securities: | $2,023,870 | $1,977,901 | $35,874 | $10,095 |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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 open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
Quarterly Holdings Report
for
Fidelity® Mega Cap Stock Fund
September 30, 2018
Schedule of Investments September 30, 2018 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.3% | |||
Shares | Value | ||
CONSUMER DISCRETIONARY - 7.6% | |||
Automobiles - 0.1% | |||
General Motors Co. | 50,400 | $1,696,968 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Starbucks Corp. | 8,200 | 466,088 | |
Media - 5.1% | |||
Charter Communications, Inc. Class A (a) | 21,300 | 6,941,244 | |
Comcast Corp. Class A | 1,831,800 | 64,864,038 | |
The Walt Disney Co. | 238,700 | 27,913,578 | |
Vivendi SA | 228,700 | 5,881,492 | |
105,600,352 | |||
Multiline Retail - 0.2% | |||
Target Corp. | 56,300 | 4,966,223 | |
Specialty Retail - 2.2% | |||
Lowe's Companies, Inc. | 292,000 | 33,527,440 | |
TJX Companies, Inc. (b) | 96,500 | 10,809,930 | |
44,337,370 | |||
TOTAL CONSUMER DISCRETIONARY | 157,067,001 | ||
CONSUMER STAPLES - 8.9% | |||
Beverages - 2.1% | |||
PepsiCo, Inc. | 72,705 | 8,128,419 | |
The Coca-Cola Co. | 747,600 | 34,531,644 | |
42,660,063 | |||
Food & Staples Retailing - 1.7% | |||
Walmart, Inc. | 368,700 | 34,624,617 | |
Food Products - 0.0% | |||
The Hershey Co. | 2,100 | 214,200 | |
Household Products - 1.8% | |||
Kimberly-Clark Corp. | 21,700 | 2,465,988 | |
Procter & Gamble Co. | 431,000 | 35,872,130 | |
38,338,118 | |||
Tobacco - 3.3% | |||
Altria Group, Inc. | 819,205 | 49,406,254 | |
British American Tobacco PLC sponsored ADR | 411,700 | 19,197,571 | |
68,603,825 | |||
TOTAL CONSUMER STAPLES | 184,440,823 | ||
ENERGY - 12.8% | |||
Energy Equipment & Services - 0.7% | |||
Baker Hughes, a GE Co. Class A | 252,800 | 8,552,224 | |
Schlumberger Ltd. | 93,100 | 5,671,652 | |
TechnipFMC PLC | 39,700 | 1,240,625 | |
15,464,501 | |||
Oil, Gas & Consumable Fuels - 12.1% | |||
BP PLC sponsored ADR | 639,249 | 29,469,379 | |
Cenovus Energy, Inc. (Canada) | 1,842,600 | 18,502,320 | |
Chevron Corp. | 555,000 | 67,865,400 | |
Equinor ASA sponsored ADR (c) | 618,000 | 17,427,600 | |
Exxon Mobil Corp. | 930,500 | 79,111,110 | |
Imperial Oil Ltd. | 251,100 | 8,126,025 | |
Suncor Energy, Inc. | 651,100 | 25,194,115 | |
The Williams Companies, Inc. | 137,660 | 3,742,975 | |
249,438,924 | |||
TOTAL ENERGY | 264,903,425 | ||
FINANCIALS - 19.4% | |||
Banks - 15.4% | |||
Bank of America Corp. | 2,780,300 | 81,907,638 | |
Citigroup, Inc. | 809,570 | 58,078,552 | |
JPMorgan Chase & Co. | 638,800 | 72,082,192 | |
PNC Financial Services Group, Inc. | 159,300 | 21,695,067 | |
U.S. Bancorp | 545,300 | 28,797,293 | |
Wells Fargo & Co. | 1,046,130 | 54,984,593 | |
317,545,335 | |||
Capital Markets - 3.0% | |||
Charles Schwab Corp. | 210,700 | 10,355,905 | |
Goldman Sachs Group, Inc. | 12,200 | 2,735,728 | |
Morgan Stanley | 359,100 | 16,723,287 | |
State Street Corp. | 388,000 | 32,506,640 | |
62,321,560 | |||
Insurance - 1.0% | |||
Chubb Ltd. | 22,400 | 2,993,536 | |
Marsh & McLennan Companies, Inc. | 86,980 | 7,194,986 | |
MetLife, Inc. | 172,900 | 8,077,888 | |
The Travelers Companies, Inc. | 8,000 | 1,037,680 | |
19,304,090 | |||
TOTAL FINANCIALS | 399,170,985 | ||
HEALTH CARE - 15.6% | |||
Biotechnology - 1.9% | |||
Alexion Pharmaceuticals, Inc. (a) | 125,300 | 17,417,953 | |
Amgen, Inc. | 56,043 | 11,617,153 | |
Biogen, Inc. (a) | 12,300 | 4,345,713 | |
Intercept Pharmaceuticals, Inc. (a) | 47,200 | 5,964,192 | |
39,345,011 | |||
Health Care Equipment & Supplies - 1.1% | |||
Becton, Dickinson & Co. | 8,300 | 2,166,300 | |
Boston Scientific Corp. (a) | 262,100 | 10,090,850 | |
Danaher Corp. | 37,500 | 4,074,750 | |
Medtronic PLC | 70,613 | 6,946,201 | |
23,278,101 | |||
Health Care Providers & Services - 5.6% | |||
Anthem, Inc. | 58,800 | 16,114,140 | |
Cardinal Health, Inc. | 122,600 | 6,620,400 | |
Cigna Corp. | 60,600 | 12,619,950 | |
CVS Health Corp. | 486,400 | 38,289,408 | |
Humana, Inc. | 21,400 | 7,244,328 | |
McKesson Corp. | 144,700 | 19,194,455 | |
UnitedHealth Group, Inc. | 53,900 | 14,339,556 | |
114,422,237 | |||
Pharmaceuticals - 7.0% | |||
Allergan PLC | 28,600 | 5,447,728 | |
AstraZeneca PLC sponsored ADR | 194,800 | 7,708,236 | |
Bayer AG | 155,426 | 13,786,390 | |
Eli Lilly & Co. | 65,500 | 7,028,805 | |
GlaxoSmithKline PLC sponsored ADR | 800,400 | 32,152,068 | |
Johnson & Johnson | 405,700 | 56,055,569 | |
Novartis AG sponsored ADR | 41,600 | 3,584,256 | |
Sanofi SA | 116,309 | 10,391,887 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR | 370,000 | 7,969,800 | |
144,124,739 | |||
TOTAL HEALTH CARE | 321,170,088 | ||
INDUSTRIALS - 8.4% | |||
Aerospace & Defense - 2.3% | |||
General Dynamics Corp. | 23,200 | 4,749,504 | |
United Technologies Corp. | 304,600 | 42,586,126 | |
47,335,630 | |||
Air Freight & Logistics - 1.9% | |||
FedEx Corp. | 26,400 | 6,356,856 | |
United Parcel Service, Inc. Class B | 274,200 | 32,012,850 | |
38,369,706 | |||
Industrial Conglomerates - 1.7% | |||
General Electric Co. | 3,187,800 | 35,990,262 | |
Road & Rail - 2.5% | |||
Norfolk Southern Corp. | 89,200 | 16,100,600 | |
Union Pacific Corp. | 212,690 | 34,632,313 | |
50,732,913 | |||
TOTAL INDUSTRIALS | 172,428,511 | ||
INFORMATION TECHNOLOGY - 21.0% | |||
Communications Equipment - 1.5% | |||
Cisco Systems, Inc. | 628,600 | 30,581,390 | |
Internet Software & Services - 1.8% | |||
Alphabet, Inc.: | |||
Class A (a) | 15,450 | 18,649,386 | |
Class C (a) | 15,026 | 17,933,080 | |
36,582,466 | |||
IT Services - 3.1% | |||
IBM Corp. | 19,700 | 2,978,837 | |
MasterCard, Inc. Class A | 59,200 | 13,178,512 | |
Visa, Inc. Class A | 312,100 | 46,843,089 | |
63,000,438 | |||
Semiconductors & Semiconductor Equipment - 2.2% | |||
Applied Materials, Inc. | 111,400 | 4,305,610 | |
Qualcomm, Inc. | 565,400 | 40,725,762 | |
45,031,372 | |||
Software - 8.3% | |||
Adobe Systems, Inc. (a) | 42,600 | 11,499,870 | |
Microsoft Corp. | 1,025,200 | 117,252,122 | |
Oracle Corp. | 605,732 | 31,231,542 | |
SAP SE sponsored ADR | 92,500 | 11,377,500 | |
171,361,034 | |||
Technology Hardware, Storage & Peripherals - 4.1% | |||
Apple, Inc. | 379,007 | 85,557,040 | |
TOTAL INFORMATION TECHNOLOGY | 432,113,740 | ||
MATERIALS - 1.3% | |||
Chemicals - 0.9% | |||
DowDuPont, Inc. | 153,967 | 9,901,618 | |
LyondellBasell Industries NV Class A | 90,000 | 9,225,900 | |
19,127,518 | |||
Metals & Mining - 0.4% | |||
BHP Billiton Ltd. sponsored ADR (c) | 168,300 | 8,388,072 | |
TOTAL MATERIALS | 27,515,590 | ||
REAL ESTATE - 0.8% | |||
Equity Real Estate Investment Trusts (REITs) - 0.8% | |||
American Tower Corp. | 42,800 | 6,218,840 | |
Crown Castle International Corp. | 4,000 | 445,320 | |
Equinix, Inc. | 16,800 | 7,272,552 | |
Public Storage | 11,600 | 2,338,908 | |
Simon Property Group, Inc. | 1,200 | 212,100 | |
16,487,720 | |||
TELECOMMUNICATION SERVICES - 1.9% | |||
Diversified Telecommunication Services - 1.9% | |||
AT&T, Inc. | 108,947 | 3,658,440 | |
Verizon Communications, Inc. | 665,325 | 35,521,702 | |
39,180,142 | |||
UTILITIES - 0.6% | |||
Electric Utilities - 0.6% | |||
Exelon Corp. | 262,700 | 11,469,482 | |
TOTAL COMMON STOCKS | |||
(Cost $1,308,508,534) | 2,025,947,507 | ||
Convertible Preferred Stocks - 0.1% | |||
HEALTH CARE - 0.1% | |||
Health Care Equipment & Supplies - 0.1% | |||
Becton, Dickinson & Co. Series A, 6.125% | |||
(Cost $1,940,000) | 38,800 | 2,540,240 | |
Other - 0.2% | |||
ENERGY - 0.2% | |||
Oil, Gas, & Consumable Fuels - 0.2% | |||
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f) | |||
(Cost $9,242,241) | 9,242,241 | 4,561,970 | |
Money Market Funds - 2.7% | |||
Fidelity Cash Central Fund, 2.11% (g) | 32,087,246 | 32,093,664 | |
Fidelity Securities Lending Cash Central Fund 2.11% (g)(h) | 22,517,874 | 22,520,126 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $54,613,790) | 54,613,790 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% | |||
(Cost $1,374,304,565) | 2,087,663,507 | ||
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (26,023,369) | ||
NET ASSETS - 100% | $2,061,640,138 |
Written Options | ||||||
Counterparty | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | |
Call Options | ||||||
TJX Companies, Inc. | Chicago Board Options Exchange | 445 | $4,984,890 | $97.50 | 10/19/18 | $(654,150) |
Legend
(a) Non-income producing
(b) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $4,984,890.
(c) Security or a portion of the security is on loan at period end.
(d) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
(e) Restricted securities - 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 $4,561,970 or 0.2% of net assets.
(f) Level 3 security
(g) 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.
(h) Investment made with cash collateral received from securities on loan.
Additional information on each restricted holding is as follows:
Security | Acquisition Date | Acquisition Cost |
Utica Shale Drilling Program (non-operating revenue interest) | 10/5/16 - 9/1/17 | $9,242,241 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $68,730 |
Fidelity Securities Lending Cash Central Fund | 39,221 |
Total | $107,951 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
The following is a summary of the inputs used, as of September 30, 2018, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $157,067,001 | $151,185,509 | $5,881,492 | $-- |
Consumer Staples | 184,440,823 | 184,440,823 | -- | -- |
Energy | 264,903,425 | 264,903,425 | -- | -- |
Financials | 399,170,985 | 399,170,985 | -- | -- |
Health Care | 323,710,328 | 296,991,811 | 26,718,517 | -- |
Industrials | 172,428,511 | 172,428,511 | -- | -- |
Information Technology | 432,113,740 | 432,113,740 | -- | -- |
Materials | 27,515,590 | 27,515,590 | -- | -- |
Real Estate | 16,487,720 | 16,487,720 | -- | -- |
Telecommunication Services | 39,180,142 | 39,180,142 | -- | -- |
Utilities | 11,469,482 | 11,469,482 | -- | -- |
Other | 4,561,970 | -- | -- | 4,561,970 |
Money Market Funds | 54,613,790 | 54,613,790 | -- | -- |
Total Investments in Securities: | $2,087,663,507 | $2,050,501,528 | $32,600,009 | $4,561,970 |
Derivative Instruments: | ||||
Liabilities | ||||
Written Options | $(654,150) | $(654,150) | $-- | $-- |
Total Liabilities | $(654,150) | $(654,150) | $-- | $-- |
Total Derivative Instruments: | $(654,150) | $(654,150) | $-- | $-- |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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.
Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price 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 each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
Quarterly Holdings Report
for
Fidelity® Series Large Cap Stock Fund (formerly Fidelity® Series Growth & Income Fund)
September 30, 2018
Schedule of Investments September 30, 2018 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 97.3% | |||
Shares | Value | ||
CONSUMER DISCRETIONARY - 8.4% | |||
Auto Components - 0.1% | |||
Gentex Corp. | 508,900 | $10,920,994 | |
Automobiles - 0.1% | |||
General Motors Co. | 345,700 | 11,639,719 | |
Hotels, Restaurants & Leisure - 0.4% | |||
Cedar Fair LP (depositary unit) | 107,600 | 5,603,808 | |
Dunkin' Brands Group, Inc. | 583,600 | 43,022,992 | |
Starbucks Corp. | 61,200 | 3,478,608 | |
52,105,408 | |||
Media - 5.0% | |||
Comcast Corp. Class A | 12,589,580 | 445,797,028 | |
Interpublic Group of Companies, Inc. | 3,654,300 | 83,573,841 | |
Omnicom Group, Inc. | 427,700 | 29,092,154 | |
The Walt Disney Co. | 1,325,400 | 154,992,276 | |
Viacom, Inc. Class B (non-vtg.) | 301,200 | 10,168,512 | |
Vivendi SA | 1,540,900 | 39,627,417 | |
763,251,228 | |||
Multiline Retail - 0.2% | |||
Target Corp. | 384,638 | 33,928,918 | |
Specialty Retail - 2.6% | |||
L Brands, Inc. | 1,536,200 | 46,546,860 | |
Lowe's Companies, Inc. | 1,544,377 | 177,325,367 | |
Ross Stores, Inc. | 616,200 | 61,065,420 | |
TJX Companies, Inc. (a) | 1,035,800 | 116,030,316 | |
400,967,963 | |||
TOTAL CONSUMER DISCRETIONARY | 1,272,814,230 | ||
CONSUMER STAPLES - 8.2% | |||
Beverages - 1.3% | |||
The Coca-Cola Co. | 4,233,316 | 195,536,866 | |
Food & Staples Retailing - 1.6% | |||
Walgreens Boots Alliance, Inc. | 474,800 | 34,612,920 | |
Walmart, Inc. | 2,167,700 | 203,568,707 | |
238,181,627 | |||
Food Products - 0.4% | |||
The Hershey Co. | 517,300 | 52,764,600 | |
The Kraft Heinz Co. | 65,100 | 3,587,661 | |
56,352,261 | |||
Household Products - 1.6% | |||
Kimberly-Clark Corp. | 385,200 | 43,774,128 | |
Procter & Gamble Co. | 2,176,587 | 181,157,336 | |
Spectrum Brands Holdings, Inc. | 277,600 | 20,742,272 | |
245,673,736 | |||
Tobacco - 3.3% | |||
Altria Group, Inc. | 5,992,000 | 361,377,520 | |
British American Tobacco PLC sponsored ADR | 3,148,100 | 146,795,903 | |
508,173,423 | |||
TOTAL CONSUMER STAPLES | 1,243,917,913 | ||
ENERGY - 13.1% | |||
Energy Equipment & Services - 1.5% | |||
Baker Hughes, a GE Co. Class A | 2,254,500 | 76,269,735 | |
Nabors Industries Ltd. | 1,538,000 | 9,474,080 | |
National Oilwell Varco, Inc. | 1,065,100 | 45,884,508 | |
Oceaneering International, Inc. | 1,473,430 | 40,666,668 | |
Schlumberger Ltd. | 708,900 | 43,186,188 | |
TechnipFMC PLC | 290,700 | 9,084,375 | |
224,565,554 | |||
Oil, Gas & Consumable Fuels - 11.6% | |||
BP PLC sponsored ADR | 3,437,930 | 158,488,573 | |
Cabot Oil & Gas Corp. | 2,281,500 | 51,379,380 | |
Cenovus Energy, Inc. | 76,100 | 763,283 | |
Cenovus Energy, Inc. (Canada) | 18,034,751 | 181,094,507 | |
Chevron Corp. | 2,633,823 | 322,063,876 | |
Enterprise Products Partners LP | 726,100 | 20,860,853 | |
Equinor ASA sponsored ADR | 3,616,000 | 101,971,200 | |
Exxon Mobil Corp. | 6,082,800 | 517,159,656 | |
Golar LNG Ltd. | 612,787 | 17,035,479 | |
Imperial Oil Ltd. | 1,754,600 | 56,781,853 | |
Kosmos Energy Ltd. (b) | 5,242,600 | 49,018,310 | |
Legacy Reserves, Inc. (b) | 2,251,567 | 10,920,100 | |
Suncor Energy, Inc. | 4,770,500 | 184,593,032 | |
Teekay LNG Partners LP | 743,600 | 12,418,120 | |
The Williams Companies, Inc. | 2,840,302 | 77,227,811 | |
1,761,776,033 | |||
TOTAL ENERGY | 1,986,341,587 | ||
FINANCIALS - 19.2% | |||
Banks - 12.8% | |||
Bank of America Corp. | 16,230,842 | 478,160,605 | |
Citigroup, Inc. (a) | 4,917,914 | 352,811,150 | |
First Hawaiian, Inc. | 721,000 | 19,582,360 | |
JPMorgan Chase & Co. | 3,439,637 | 388,128,639 | |
M&T Bank Corp. | 51,790 | 8,521,527 | |
PNC Financial Services Group, Inc. | 900,068 | 122,580,261 | |
SunTrust Banks, Inc. (a) | 2,032,090 | 135,723,291 | |
U.S. Bancorp | 2,566,110 | 135,516,269 | |
Wells Fargo & Co. | 5,835,999 | 306,740,107 | |
1,947,764,209 | |||
Capital Markets - 5.1% | |||
Apollo Global Management LLC Class A | 742,300 | 25,646,465 | |
Brookfield Asset Management, Inc. | 107,600 | 4,791,428 | |
Charles Schwab Corp. | 1,416,435 | 69,617,780 | |
KKR & Co. LP | 3,553,889 | 96,914,553 | |
Morgan Stanley | 1,842,780 | 85,818,265 | |
Northern Trust Corp. | 1,803,261 | 184,167,046 | |
Oaktree Capital Group LLC Class A | 792,924 | 32,827,054 | |
S&P Global, Inc. | 232,000 | 45,330,480 | |
State Street Corp. | 2,711,175 | 227,142,242 | |
Virtu Financial, Inc. Class A | 279,700 | 5,719,865 | |
777,975,178 | |||
Insurance - 1.0% | |||
Chubb Ltd. | 176,200 | 23,547,368 | |
Marsh & McLennan Companies, Inc. | 498,226 | 41,213,255 | |
MetLife, Inc. | 1,376,200 | 64,296,064 | |
The Travelers Companies, Inc. | 178,400 | 23,140,264 | |
152,196,951 | |||
Thrifts & Mortgage Finance - 0.3% | |||
Radian Group, Inc. | 2,026,616 | 41,890,153 | |
TOTAL FINANCIALS | 2,919,826,491 | ||
HEALTH CARE - 14.3% | |||
Biotechnology - 1.4% | |||
Alexion Pharmaceuticals, Inc. (b) | 770,900 | 107,162,809 | |
Amgen, Inc. | 348,227 | 72,183,975 | |
AnaptysBio, Inc. (b) | 25,100 | 2,504,227 | |
Intercept Pharmaceuticals, Inc. (b) | 312,065 | 39,432,533 | |
221,283,544 | |||
Health Care Equipment & Supplies - 0.9% | |||
Becton, Dickinson & Co. | 36,200 | 9,448,200 | |
Boston Scientific Corp. (b) | 727,000 | 27,989,500 | |
Danaher Corp. | 507,200 | 55,112,352 | |
Fisher & Paykel Healthcare Corp. | 741,573 | 7,397,853 | |
ResMed, Inc. | 101,000 | 11,649,340 | |
Steris PLC | 115,600 | 13,224,640 | |
Zimmer Biomet Holdings, Inc. | 112,900 | 14,842,963 | |
139,664,848 | |||
Health Care Providers & Services - 6.5% | |||
AmerisourceBergen Corp. | 1,093,200 | 100,814,904 | |
Anthem, Inc. | 333,400 | 91,368,270 | |
Cardinal Health, Inc. | 1,941,600 | 104,846,400 | |
Cigna Corp. | 554,400 | 115,453,800 | |
CVS Health Corp. | 3,534,110 | 278,205,139 | |
Fresenius Medical Care AG & Co. KGaA sponsored ADR | 371,200 | 19,087,104 | |
HCA Holdings, Inc. | 87,900 | 12,228,648 | |
Humana, Inc. | 112,200 | 37,981,944 | |
McKesson Corp. | 889,777 | 118,028,919 | |
Patterson Companies, Inc. | 1,615,810 | 39,506,555 | |
UnitedHealth Group, Inc. | 255,700 | 68,026,428 | |
985,548,111 | |||
Pharmaceuticals - 5.5% | |||
Allergan PLC | 101,800 | 19,390,864 | |
AstraZeneca PLC sponsored ADR | 1,491,100 | 59,002,827 | |
Bayer AG | 1,190,742 | 105,619,611 | |
Eli Lilly & Co. | 228,200 | 24,488,142 | |
GlaxoSmithKline PLC sponsored ADR | 5,988,940 | 240,575,720 | |
Johnson & Johnson | 1,706,444 | 235,779,367 | |
Novartis AG sponsored ADR | 131,662 | 11,343,998 | |
Perrigo Co. PLC | 327,900 | 23,215,320 | |
Sanofi SA | 582,996 | 52,089,077 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR | 2,773,033 | 59,731,131 | |
831,236,057 | |||
TOTAL HEALTH CARE | 2,177,732,560 | ||
INDUSTRIALS - 11.3% | |||
Aerospace & Defense - 2.3% | |||
General Dynamics Corp. | 352,300 | 72,122,856 | |
Meggitt PLC | 437,027 | 3,226,333 | |
Rolls-Royce Holdings PLC | 2,505,300 | 32,231,683 | |
United Technologies Corp. | 1,714,220 | 239,665,098 | |
347,245,970 | |||
Air Freight & Logistics - 1.7% | |||
C.H. Robinson Worldwide, Inc. | 459,500 | 44,994,240 | |
Expeditors International of Washington, Inc. | 47,700 | 3,507,381 | |
United Parcel Service, Inc. Class B | 1,782,605 | 208,119,134 | |
256,620,755 | |||
Commercial Services & Supplies - 0.2% | |||
Healthcare Services Group, Inc. (c) | 535,100 | 21,735,762 | |
Ritchie Brothers Auctioneers, Inc. | 41,600 | 1,501,162 | |
Stericycle, Inc. (b) | 168,511 | 9,888,225 | |
33,125,149 | |||
Electrical Equipment - 0.9% | |||
Acuity Brands, Inc. | 427,500 | 67,203,000 | |
Hubbell, Inc. Class B | 380,740 | 50,855,442 | |
Melrose Industries PLC | 586,600 | 1,528,384 | |
Rockwell Automation, Inc. | 57,700 | 10,819,904 | |
130,406,730 | |||
Industrial Conglomerates - 1.6% | |||
3M Co. | 58,300 | 12,284,393 | |
General Electric Co. | 20,960,722 | 236,646,551 | |
248,930,944 | |||
Machinery - 1.1% | |||
Donaldson Co., Inc. | 453,900 | 26,444,214 | |
Flowserve Corp. | 1,633,400 | 89,330,646 | |
PACCAR, Inc. | 42,200 | 2,877,618 | |
Wabtec Corp. | 444,000 | 46,566,720 | |
165,219,198 | |||
Professional Services - 0.2% | |||
Nielsen Holdings PLC | 1,306,000 | 36,123,960 | |
Road & Rail - 2.3% | |||
J.B. Hunt Transport Services, Inc. | 730,858 | 86,928,251 | |
Knight-Swift Transportation Holdings, Inc. Class A | 354,100 | 12,209,368 | |
Norfolk Southern Corp. | 482,514 | 87,093,777 | |
Union Pacific Corp. | 984,800 | 160,354,984 | |
346,586,380 | |||
Trading Companies & Distributors - 1.0% | |||
Bunzl PLC | 322,820 | 10,153,025 | |
Fastenal Co. | 932,400 | 54,097,848 | |
Howden Joinery Group PLC | 446,100 | 2,726,404 | |
MSC Industrial Direct Co., Inc. Class A | 220,600 | 19,437,066 | |
Watsco, Inc. | 356,429 | 63,480,005 | |
149,894,348 | |||
TOTAL INDUSTRIALS | 1,714,153,434 | ||
INFORMATION TECHNOLOGY - 16.5% | |||
Communications Equipment - 1.2% | |||
Cisco Systems, Inc. | 3,578,673 | 174,102,441 | |
Electronic Equipment & Components - 0.1% | |||
Avnet, Inc. | 253,600 | 11,353,672 | |
Philips Lighting NV (d) | 285,800 | 7,399,766 | |
18,753,438 | |||
Internet Software & Services - 0.8% | |||
Alphabet, Inc.: | |||
Class A (b) | 53,663 | 64,775,534 | |
Class C (b) | 50,799 | 60,627,083 | |
125,402,617 | |||
IT Services - 2.9% | |||
IBM Corp. | 220,600 | 33,356,926 | |
MasterCard, Inc. Class A | 146,450 | 32,601,235 | |
Paychex, Inc. | 1,406,155 | 103,563,316 | |
Unisys Corp. (b)(c) | 1,824,517 | 37,220,147 | |
Visa, Inc. Class A (a) | 1,511,080 | 226,797,997 | |
433,539,621 | |||
Semiconductors & Semiconductor Equipment - 2.0% | |||
Analog Devices, Inc. | 142,300 | 13,157,058 | |
Applied Materials, Inc. | 911,900 | 35,244,935 | |
Lam Research Corp. | 61,800 | 9,375,060 | |
Qualcomm, Inc. | 3,497,410 | 251,918,442 | |
309,695,495 | |||
Software - 6.6% | |||
Micro Focus International PLC | 1,899,540 | 35,325,473 | |
Microsoft Corp. (a) | 5,848,125 | 668,850,056 | |
Oracle Corp. | 3,926,282 | 202,439,100 | |
SAP SE sponsored ADR | 777,900 | 95,681,700 | |
1,002,296,329 | |||
Technology Hardware, Storage & Peripherals - 2.9% | |||
Apple, Inc. | 1,868,866 | 421,877,811 | |
Western Digital Corp. | 292,000 | 17,093,680 | |
438,971,491 | |||
TOTAL INFORMATION TECHNOLOGY | 2,502,761,432 | ||
MATERIALS - 2.0% | |||
Chemicals - 1.7% | |||
CF Industries Holdings, Inc. | 523,100 | 28,477,564 | |
DowDuPont, Inc. | 719,500 | 46,271,045 | |
International Flavors & Fragrances, Inc. | 173,400 | 24,123,408 | |
LyondellBasell Industries NV Class A | 496,300 | 50,875,713 | |
Nutrien Ltd. | 1,476,824 | 85,271,965 | |
The Scotts Miracle-Gro Co. Class A | 285,700 | 22,493,161 | |
257,512,856 | |||
Metals & Mining - 0.3% | |||
BHP Billiton Ltd. sponsored ADR (c) | 779,900 | 38,870,216 | |
TOTAL MATERIALS | 296,383,072 | ||
REAL ESTATE - 1.5% | |||
Equity Real Estate Investment Trusts (REITs) - 1.5% | |||
American Tower Corp. | 327,100 | 47,527,630 | |
CoreSite Realty Corp. | 334,700 | 37,198,558 | |
Equinix, Inc. | 132,700 | 57,444,503 | |
Omega Healthcare Investors, Inc. | 294,700 | 9,657,319 | |
Public Storage | 184,300 | 37,160,409 | |
Sabra Health Care REIT, Inc. | 533,000 | 12,322,960 | |
Simon Property Group, Inc. | 41,900 | 7,405,825 | |
Spirit MTA REIT | 200,580 | 2,310,682 | |
Spirit Realty Capital, Inc. | 1,969,300 | 15,872,558 | |
226,900,444 | |||
TELECOMMUNICATION SERVICES - 1.5% | |||
Diversified Telecommunication Services - 1.5% | |||
AT&T, Inc. | 780,765 | 26,218,089 | |
Verizon Communications, Inc. | 3,897,282 | 208,075,886 | |
234,293,975 | |||
UTILITIES - 1.3% | |||
Electric Utilities - 1.2% | |||
Duke Energy Corp. | 119,000 | 9,522,380 | |
Exelon Corp. | 2,243,790 | 97,963,871 | |
PPL Corp. | 1,507,200 | 44,100,672 | |
Southern Co. | 496,400 | 21,643,040 | |
173,229,963 | |||
Multi-Utilities - 0.1% | |||
Sempra Energy | 187,700 | 21,350,875 | |
TOTAL UTILITIES | 194,580,838 | ||
TOTAL COMMON STOCKS | |||
(Cost $11,695,635,307) | 14,769,705,976 | ||
Preferred Stocks - 0.2% | |||
Convertible Preferred Stocks - 0.2% | |||
HEALTH CARE - 0.2% | |||
Health Care Equipment & Supplies - 0.2% | |||
Becton, Dickinson & Co. Series A, 6.125% | 388,900 | 25,461,322 | |
Nonconvertible Preferred Stocks - 0.0% | |||
INDUSTRIALS - 0.0% | |||
Aerospace & Defense - 0.0% | |||
Rolls-Royce Holdings PLC (C Shares) | 720,527,770 | 939,136 | |
TOTAL PREFERRED STOCKS | |||
(Cost $20,712,271) | 26,400,458 | ||
Principal Amount | Value | ||
Convertible Bonds - 0.1% | |||
HEALTH CARE - 0.1% | |||
Pharmaceuticals - 0.1% | |||
Bayer Capital Corp. BV 5.625% 11/22/19 (Cost $13,277,549)(d) | EUR | 12,000,000 | 12,845,997 |
Shares | Value | ||
Other - 0.1% | |||
Energy - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 (e)(f)(g) | |||
(Cost $28,952,535) | 28,952,535 | 14,290,971 | |
Money Market Funds - 2.4% | |||
Fidelity Cash Central Fund, 2.11% (h) | 317,634,763 | 317,698,290 | |
Fidelity Securities Lending Cash Central Fund 2.11% (h)(i) | 50,769,945 | 50,775,022 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $368,473,312) | 368,473,312 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% | |||
(Cost $12,127,050,974) | 15,191,716,714 | ||
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (17,360,640) | ||
NET ASSETS - 100% | $15,174,356,074 |
Written Options | ||||||
Counterparty | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | |
Call Options | ||||||
Citigroup, Inc. | Chicago Board Options Exchange | 5,313 | $38,115,462 | $72.50 | 10/19/18 | $(693,347) |
Microsoft Corp. | Chicago Board Options Exchange | 5,939 | 67,924,343 | 115.00 | 10/19/18 | (1,018,539) |
SunTrust Banks, Inc. | Chicago Board Options Exchange | 2,404 | 16,056,316 | 75.00 | 10/19/18 | (10,818) |
SunTrust Banks, Inc. | Chicago Board Options Exchange | 2,404 | 16,056,316 | 77.50 | 10/19/18 | (7,212) |
TJX Companies, Inc. | Chicago Board Options Exchange | 4,223 | 47,306,046 | 97.50 | 10/19/18 | (6,207,810) |
Visa, Inc. | Chicago Board Options Exchange | 1,585 | 23,789,265 | 145.00 | 10/19/18 | (935,150) |
Visa, Inc. | Chicago Board Options Exchange | 1,585 | 23,789,265 | 150.00 | 10/19/18 | (353,455) |
TOTAL WRITTEN OPTIONS | $(9,226,331) |
Currency Abbreviations
EUR – European Monetary Unit
Legend
(a) Security or a portion of the security is pledged as collateral for call options written. At period end, the value of securities pledged amounted to $233,037,013.
(b) Non-income producing
(c) Security or a portion of the security is on loan at period end.
(d) 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 $20,245,763 or 0.1% of net assets.
(e) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
(f) Restricted securities - 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 $14,290,971 or 0.1% of net assets.
(g) Level 3 security
(h) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(i) Investment made with cash collateral received from securities on loan.
Additional information on each restricted holding is as follows:
Security | Acquisition Date | Acquisition Cost |
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 | 10/5/16 - 4/5/18 | $28,952,535 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $1,021,903 |
Fidelity Securities Lending Cash Central Fund | 141,898 |
Total | $1,163,801 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
The following is a summary of the inputs used, as of September 30, 2018, 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. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Consumer Discretionary | $1,272,814,230 | $1,233,186,813 | $39,627,417 | $-- |
Consumer Staples | 1,243,917,913 | 1,243,917,913 | -- | -- |
Energy | 1,986,341,587 | 1,986,341,587 | -- | -- |
Financials | 2,919,826,491 | 2,919,826,491 | -- | -- |
Health Care | 2,203,193,882 | 2,020,023,872 | 183,170,010 | -- |
Industrials | 1,715,092,570 | 1,682,860,887 | 32,231,683 | -- |
Information Technology | 2,502,761,432 | 2,467,435,959 | 35,325,473 | -- |
Materials | 296,383,072 | 296,383,072 | -- | -- |
Real Estate | 226,900,444 | 226,900,444 | -- | -- |
Telecommunication Services | 234,293,975 | 234,293,975 | -- | -- |
Utilities | 194,580,838 | 194,580,838 | -- | -- |
Corporate Bonds | 12,845,997 | -- | 12,845,997 | -- |
Other | 14,290,971 | -- | -- | 14,290,971 |
Money Market Funds | 368,473,312 | 368,473,312 | -- | -- |
Total Investments in Securities: | $15,191,716,714 | $14,874,225,163 | $303,200,580 | $14,290,971 |
Derivative Instruments: | ||||
Liabilities | ||||
Written Options | $(9,226,331) | $(9,226,331) | $-- | $-- |
Total Liabilities | $(9,226,331) | $(9,226,331) | $-- | $-- |
Total Derivative Instruments: | $(9,226,331) | $(9,226,331) | $-- | $-- |
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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 vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors 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 vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price 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 each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
Item 2.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Hastings Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 3.
Exhibits
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Hastings Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | November 28, 2018 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | November 28, 2018 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | November 28, 2018 |
Exhibit EX-99.CERT
I, Stacie M. Smith, certify that:
1.
I have reviewed this report on Form N-Q of Fidelity Hastings Street Trust;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:
November 28, 2018
/s/Stacie M. Smith |
Stacie M. Smith |
President and Treasurer |
I, John J. Burke III, certify that:
1.
I have reviewed this report on Form N-Q of Fidelity Hastings Street Trust;
2.
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.
Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;
4.
The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:
a.
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.
Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and
d.
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.
The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and
b.
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date:
November 28, 2018
/s/John J. Burke III |
John J. Burke III |
Chief Financial Officer |