NPORT-EX 1 QTLY_361_20190331.htm

Quarterly Holdings Report
for

Fidelity® Mega Cap Stock Fund

March 31, 2019







GII-QTLY-0519
1.799848.115





Schedule of Investments March 31, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.3%   
 Shares Value 
COMMUNICATION SERVICES - 8.7%   
Diversified Telecommunication Services - 1.8%   
Verizon Communications, Inc. 590,625 $34,923,656 
Entertainment - 2.0%   
Activision Blizzard, Inc. 164,700 7,498,791 
Electronic Arts, Inc. (a) 170,500 17,327,915 
Vivendi SA 494,800 14,339,339 
  39,166,045 
Interactive Media & Services - 1.0%   
Alphabet, Inc.:   
Class A (a) 8,750 10,297,788 
Class C (a) 8,126 9,534,317 
  19,832,105 
Media - 3.9%   
Comcast Corp. Class A 1,706,900 68,241,862 
Fox Corp. Class A (a) 172,900 6,347,159 
  74,589,021 
TOTAL COMMUNICATION SERVICES  168,510,827 
CONSUMER DISCRETIONARY - 1.8%   
Internet & Direct Marketing Retail - 0.9%   
The Booking Holdings, Inc. (a) 10,200 17,798,082 
Specialty Retail - 0.9%   
Lowe's Companies, Inc. 164,900 18,051,603 
TOTAL CONSUMER DISCRETIONARY  35,849,685 
CONSUMER STAPLES - 9.9%   
Beverages - 1.2%   
The Coca-Cola Co. 499,700 23,415,942 
Food & Staples Retailing - 1.8%   
Walmart, Inc. 363,800 35,481,414 
Household Products - 1.9%   
Procter & Gamble Co. (b) 344,100 35,803,605 
Tobacco - 5.0%   
Altria Group, Inc. (b) 1,255,505 72,103,652 
British American Tobacco PLC sponsored ADR (b) 574,100 23,951,452 
  96,055,104 
TOTAL CONSUMER STAPLES  190,756,065 
ENERGY - 12.0%   
Energy Equipment & Services - 0.4%   
Baker Hughes, a GE Co. Class A 283,200 7,850,304 
Oil, Gas & Consumable Fuels - 11.6%   
BP PLC sponsored ADR 763,711 33,389,445 
Cenovus Energy, Inc. (Canada) 2,101,000 18,237,438 
Chevron Corp. (b) 437,700 53,915,886 
Equinor ASA sponsored ADR 805,600 17,699,032 
Exxon Mobil Corp. 1,076,800 87,005,440 
Hess Corp. 220,900 13,304,807 
  223,552,048 
TOTAL ENERGY  231,402,352 
FINANCIALS - 17.3%   
Banks - 14.3%   
Bank of America Corp. 2,731,500 75,362,085 
Citigroup, Inc. 618,770 38,499,869 
JPMorgan Chase & Co. 593,000 60,029,390 
PNC Financial Services Group, Inc. 203,900 25,010,374 
U.S. Bancorp 419,800 20,230,162 
Wells Fargo & Co. 1,196,330 57,806,666 
  276,938,546 
Capital Markets - 2.6%   
Charles Schwab Corp. 199,895 8,547,510 
Goldman Sachs Group, Inc. 14,500 2,783,855 
Morgan Stanley 357,300 15,078,060 
State Street Corp. 355,500 23,395,455 
  49,804,880 
Insurance - 0.4%   
Chubb Ltd. 30,900 4,328,472 
The Travelers Companies, Inc. 21,400 2,935,224 
  7,263,696 
TOTAL FINANCIALS  334,007,122 
HEALTH CARE - 14.8%   
Biotechnology - 1.2%   
Alexion Pharmaceuticals, Inc. (a) 130,600 17,654,508 
Intercept Pharmaceuticals, Inc. (a) 52,800 5,906,208 
  23,560,716 
Health Care Equipment & Supplies - 0.9%   
Boston Scientific Corp. (a) 245,400 9,418,452 
Medtronic PLC 88,013 8,016,224 
  17,434,676 
Health Care Providers & Services - 4.6%   
Anthem, Inc. 9,782 2,807,238 
Cigna Corp. 106,700 17,159,494 
CVS Health Corp. 517,000 27,881,810 
McKesson Corp. 224,500 26,279,970 
UnitedHealth Group, Inc. 61,400 15,181,764 
  89,310,276 
Pharmaceuticals - 8.1%   
Bayer AG 329,826 21,238,126 
Bristol-Myers Squibb Co. 618,600 29,513,406 
GlaxoSmithKline PLC sponsored ADR (b) 736,000 30,757,440 
Johnson & Johnson 384,100 53,693,339 
Novartis AG sponsored ADR 50,600 4,864,684 
Sanofi SA 125,109 11,062,658 
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 354,500 5,558,560 
  156,688,213 
TOTAL HEALTH CARE  286,993,881 
INDUSTRIALS - 11.0%   
Aerospace & Defense - 2.0%   
General Dynamics Corp. 24,200 4,096,576 
United Technologies Corp. 264,400 34,078,516 
  38,175,092 
Air Freight & Logistics - 2.1%   
FedEx Corp. 39,400 7,147,554 
United Parcel Service, Inc. Class B 307,910 34,405,863 
  41,553,417 
Industrial Conglomerates - 4.1%   
General Electric Co. 7,879,000 78,711,210 
Machinery - 0.1%   
Wabtec Corp. 38,712 2,853,849 
Professional Services - 0.2%   
RELX PLC (London Stock Exchange) 161,700 3,457,100 
Road & Rail - 2.5%   
Norfolk Southern Corp. 81,900 15,306,291 
Union Pacific Corp. 201,290 33,655,688 
  48,961,979 
TOTAL INDUSTRIALS  213,712,647 
INFORMATION TECHNOLOGY - 19.0%   
Communications Equipment - 0.7%   
Cisco Systems, Inc. (b) 263,390 14,220,426 
IT Services - 3.0%   
IBM Corp. 17,300 2,441,030 
MasterCard, Inc. Class A 49,000 11,537,050 
Visa, Inc. Class A (b) 284,000 44,357,960 
  58,336,040 
Semiconductors & Semiconductor Equipment - 3.1%   
Applied Materials, Inc. 262,900 10,426,614 
Micron Technology, Inc. (a) 197,100 8,146,143 
NVIDIA Corp. 50,400 9,049,824 
Qualcomm, Inc. 548,000 31,252,440 
  58,875,021 
Software - 8.6%   
Microsoft Corp. (b) 981,290 115,733,341 
Oracle Corp. 605,832 32,539,237 
SAP SE sponsored ADR (c) 154,920 17,887,063 
  166,159,641 
Technology Hardware, Storage & Peripherals - 3.6%   
Apple, Inc. (b) 367,007 69,712,980 
TOTAL INFORMATION TECHNOLOGY  367,304,108 
MATERIALS - 0.5%   
Chemicals - 0.5%   
DowDuPont, Inc. 190,067 10,132,472 
REAL ESTATE - 1.0%   
Equity Real Estate Investment Trusts (REITs) - 1.0%   
American Tower Corp. 42,800 8,434,168 
Equinix, Inc. 22,800 10,332,048 
Simon Property Group, Inc. 4,500 819,945 
  19,586,161 
UTILITIES - 0.3%   
Electric Utilities - 0.3%   
Exelon Corp. (b) 108,500 5,439,105 
TOTAL COMMON STOCKS   
(Cost $1,346,486,345)  1,863,694,425 
Convertible Preferred Stocks - 0.1%   
HEALTH CARE - 0.1%   
Health Care Equipment & Supplies - 0.1%   
Becton, Dickinson & Co. Series A, 6.125%   
(Cost $1,585,000) 31,700 1,968,604 
Other - 0.3%   
Other - 0.3%   
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f) 7,127,346 1,149,178 
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 (d)(e)(f) 6,521,987 4,239,292 
TOTAL OTHER   
(Cost $9,603,041)  5,388,470 
Money Market Funds - 3.6%   
Fidelity Cash Central Fund, 2.48% (g) 68,656,937 68,670,668 
Fidelity Securities Lending Cash Central Fund 2.48% (g)(h) 836,661 836,745 
TOTAL MONEY MARKET FUNDS   
(Cost $69,505,717)  69,507,413 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $1,427,180,103)  1,940,558,912 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (5,147,950) 
NET ASSETS - 100%  $1,935,410,962 

Written Options       
 Counterparty Number of Contracts Notional Amount Exercise Price Expiration Date Value 
Call Options       
Altria Group, Inc. Chicago Board Options Exchange 1,257 $7,218,951 $60.00 6/21/19 $(140,784) 
Apple, Inc. Chicago Board Options Exchange 396 7,522,020 175.00 4/18/19 (613,800) 
Apple, Inc. Chicago Board Options Exchange 370 7,028,150 190.00 5/17/19 (266,400) 
Apple, Inc. Chicago Board Options Exchange 370 7,028,150 185.00 5/17/19 (373,700) 
British American Tobacco PLC Chicago Board Options Exchange 571 2,382,212 45.00 6/21/19 (54,245) 
Chevron Corp. Chicago Board Options Exchange 429 5,284,422 130.00 6/21/19 (53,625) 
Cisco Systems, Inc. Chicago Board Options Exchange 291 1,571,109 49.00 4/18/19 (144,045) 
Cisco Systems, Inc. Chicago Board Options Exchange 408 2,202,792 55.00 6/21/19 (63,240) 
Exelon Corp. Chicago Board Options Exchange 177 887,301 47.00 4/18/19 (57,525) 
Exelon Corp. Chicago Board Options Exchange 177 887,301 48.00 4/18/19 (40,268) 
Exelon Corp. Chicago Board Options Exchange 177 887,301 49.00 4/18/19 (25,223) 
GlaxoSmithKline PLC Spons ADR Chicago Board Options Exchange 741 3,096,639 40.00 5/17/19 (163,020) 
GlaxoSmithKline PLC Spons ADR Chicago Board Options Exchange 741 3,096,639 41.00 5/17/19 (105,593) 
Microsoft Corp. Chicago Board Options Exchange 1,011 11,923,734 115.00 4/18/19 (386,708) 
Microsoft Corp. Chicago Board Options Exchange 1,498 17,667,412 120.00 5/17/19 (427,679) 
Procter & Gamble Co. Chicago Board Options Exchange 356 3,704,180 97.50 6/21/19 (267,890) 
Procter & Gamble Co. Chicago Board Options Exchange 510 5,306,550 105.00 6/21/19 (122,400) 
Visa, Inc. Chicago Board Options Exchange 274 4,279,606 155.00 5/17/19 (152,753) 
TOTAL WRITTEN OPTIONS      $(3,458,898) 

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 $91,974,469.

 (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 $5,388,470 or 0.3% 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 $3,081,054 
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 10/5/16 - 4/5/18 $6,521,987 

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 $744,925 
Fidelity Securities Lending Cash Central Fund 83,701 
Total $828,626 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

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.

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