Quarterly Holdings Report
for
Fidelity® Mega Cap Stock Fund
September 30, 2019
Schedule of Investments September 30, 2019 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 95.9% | |||
Shares | Value | ||
COMMUNICATION SERVICES - 10.9% | |||
Diversified Telecommunication Services - 1.9% | |||
Verizon Communications, Inc. | 570,825 | $34,454,997 | |
Entertainment - 3.5% | |||
Activision Blizzard, Inc. | 147,200 | 7,789,824 | |
Electronic Arts, Inc. (a) | 85,400 | 8,353,828 | |
The Walt Disney Co. | 222,100 | 28,944,072 | |
Vivendi SA | 720,600 | 19,776,824 | |
64,864,548 | |||
Interactive Media & Services - 1.3% | |||
Alphabet, Inc.: | |||
Class A (a) | 7,350 | 8,975,379 | |
Class C (a) | 6,726 | 8,198,994 | |
IAC/InterActiveCorp (a) | 29,900 | 6,517,303 | |
23,691,676 | |||
Media - 4.2% | |||
Comcast Corp. Class A | 1,702,200 | 76,735,176 | |
Fox Corp. Class A | 40,400 | 1,274,014 | |
78,009,190 | |||
TOTAL COMMUNICATION SERVICES | 201,020,411 | ||
CONSUMER DISCRETIONARY - 2.4% | |||
Internet & Direct Marketing Retail - 1.4% | |||
The Booking Holdings, Inc. (a) | 13,500 | 26,495,235 | |
Specialty Retail - 1.0% | |||
Lowe's Companies, Inc. | 168,900 | 18,572,244 | |
TOTAL CONSUMER DISCRETIONARY | 45,067,479 | ||
CONSUMER STAPLES - 8.5% | |||
Beverages - 1.5% | |||
The Coca-Cola Co. | 503,500 | 27,410,540 | |
Food & Staples Retailing - 2.3% | |||
Walmart, Inc. | 357,000 | 42,368,760 | |
Food Products - 1.6% | |||
Nestle SA sponsored ADR | 270,400 | 29,311,360 | |
Household Products - 1.3% | |||
Procter & Gamble Co. | 194,400 | 24,179,472 | |
Tobacco - 1.8% | |||
Altria Group, Inc. | 826,405 | 33,799,965 | |
TOTAL CONSUMER STAPLES | 157,070,097 | ||
ENERGY - 9.3% | |||
Oil, Gas & Consumable Fuels - 9.3% | |||
BP PLC sponsored ADR (b) | 307,303 | 11,674,441 | |
Cenovus Energy, Inc. (Canada) | 2,110,700 | 19,802,997 | |
Chevron Corp. | 41,800 | 4,957,480 | |
Equinor ASA sponsored ADR | 1,011,500 | 19,167,925 | |
Exxon Mobil Corp. | 1,382,600 | 97,625,386 | |
Hess Corp. | 327,700 | 19,819,296 | |
173,047,525 | |||
FINANCIALS - 18.9% | |||
Banks - 14.7% | |||
Bank of America Corp. | 2,486,000 | 72,516,620 | |
Citigroup, Inc. | 357,570 | 24,700,936 | |
JPMorgan Chase & Co. | 514,500 | 60,551,505 | |
PNC Financial Services Group, Inc. | 203,900 | 28,578,624 | |
U.S. Bancorp | 390,300 | 21,599,202 | |
Wells Fargo & Co. | 1,284,530 | 64,791,693 | |
272,738,580 | |||
Capital Markets - 1.2% | |||
Charles Schwab Corp. | 149,795 | 6,265,925 | |
State Street Corp. | 266,500 | 15,774,135 | |
22,040,060 | |||
Diversified Financial Services - 2.6% | |||
Berkshire Hathaway, Inc. Class B (a) | 235,100 | 48,905,502 | |
Insurance - 0.4% | |||
Chubb Ltd. | 30,900 | 4,988,496 | |
The Travelers Companies, Inc. | 13,600 | 2,022,184 | |
7,010,680 | |||
TOTAL FINANCIALS | 350,694,822 | ||
HEALTH CARE - 16.8% | |||
Biotechnology - 0.9% | |||
AbbVie, Inc. | 60,000 | 4,543,200 | |
Amgen, Inc. | 58,100 | 11,242,931 | |
15,786,131 | |||
Health Care Equipment & Supplies - 1.2% | |||
Becton, Dickinson & Co. | 12,000 | 3,035,520 | |
Boston Scientific Corp. (a) | 220,300 | 8,964,007 | |
Medtronic PLC | 88,013 | 9,559,972 | |
21,559,499 | |||
Health Care Providers & Services - 4.8% | |||
Anthem, Inc. | 9,782 | 2,348,658 | |
Cigna Corp. | 113,700 | 17,258,523 | |
CVS Health Corp. | 539,900 | 34,051,493 | |
McKesson Corp. | 124,100 | 16,959,506 | |
UnitedHealth Group, Inc. | 88,100 | 19,145,892 | |
89,764,072 | |||
Pharmaceuticals - 9.9% | |||
Bayer AG | 418,526 | 29,486,445 | |
Bristol-Myers Squibb Co. | 900,300 | 45,654,213 | |
GlaxoSmithKline PLC sponsored ADR | 792,500 | 33,823,900 | |
Johnson & Johnson | 490,300 | 63,435,014 | |
Roche Holding AG (participation certificate) | 36,910 | 10,746,889 | |
183,146,461 | |||
TOTAL HEALTH CARE | 310,256,163 | ||
INDUSTRIALS - 10.8% | |||
Aerospace & Defense - 1.8% | |||
General Dynamics Corp. | 24,200 | 4,422,066 | |
The Boeing Co. | 7,400 | 2,815,478 | |
United Technologies Corp. | 192,700 | 26,307,404 | |
33,544,948 | |||
Air Freight & Logistics - 2.7% | |||
FedEx Corp. | 58,400 | 8,501,288 | |
United Parcel Service, Inc. Class B | 339,610 | 40,692,070 | |
49,193,358 | |||
Industrial Conglomerates - 5.5% | |||
General Electric Co. | 11,335,700 | 101,341,158 | |
Professional Services - 0.7% | |||
RELX PLC (London Stock Exchange) | 562,263 | 13,359,961 | |
Road & Rail - 0.1% | |||
Union Pacific Corp. | 10,190 | 1,650,576 | |
TOTAL INDUSTRIALS | 199,090,001 | ||
INFORMATION TECHNOLOGY - 17.1% | |||
Communications Equipment - 0.2% | |||
Cisco Systems, Inc. | 73,690 | 3,641,023 | |
IT Services - 2.9% | |||
MasterCard, Inc. Class A | 39,900 | 10,835,643 | |
Visa, Inc. Class A | 245,100 | 42,159,651 | |
52,995,294 | |||
Semiconductors & Semiconductor Equipment - 3.0% | |||
Applied Materials, Inc. | 161,500 | 8,058,850 | |
Qualcomm, Inc. | 537,000 | 40,962,360 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 140,900 | 6,549,032 | |
55,570,242 | |||
Software - 7.8% | |||
Microsoft Corp. | 733,090 | 101,921,505 | |
Oracle Corp. | 453,632 | 24,963,369 | |
SAP SE sponsored ADR | 146,320 | 17,246,738 | |
144,131,612 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 269,207 | 60,294,292 | |
TOTAL INFORMATION TECHNOLOGY | 316,632,463 | ||
MATERIALS - 0.4% | |||
Metals & Mining - 0.4% | |||
BHP Billiton Ltd. sponsored ADR (b) | 164,200 | 8,108,196 | |
REAL ESTATE - 0.7% | |||
Equity Real Estate Investment Trusts (REITs) - 0.7% | |||
American Tower Corp. | 11,200 | 2,476,656 | |
Equinix, Inc. | 15,000 | 8,652,000 | |
Simon Property Group, Inc. | 7,600 | 1,182,940 | |
12,311,596 | |||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
Exelon Corp. | 47,600 | 2,299,556 | |
TOTAL COMMON STOCKS | |||
(Cost $1,299,394,497) | 1,775,598,309 | ||
Convertible Preferred Stocks - 0.2% | |||
HEALTH CARE - 0.2% | |||
Health Care Equipment & Supplies - 0.2% | |||
Becton, Dickinson & Co. Series A, 6.125% | |||
(Cost $2,609,222) | 49,400 | 3,054,896 | |
Other - 0.3% | |||
Other - 0.3% | |||
Utica Shale Drilling Program (non-operating revenue interest) (c)(d)(e) | 7,127,346 | 735,820 | |
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 (c)(d)(e) | 6,161,487 | 4,004,967 | |
TOTAL OTHER | |||
(Cost $9,243,469) | 4,740,787 | ||
Money Market Funds - 3.8% | |||
Fidelity Cash Central Fund 1.96% (f) | 66,724,519 | 66,737,863 | |
Fidelity Securities Lending Cash Central Fund 1.96% (f)(g) | 4,520,789 | 4,521,241 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $71,257,408) | 71,259,104 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% | |||
(Cost $1,382,504,596) | 1,854,653,096 | ||
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (4,112,139) | ||
NET ASSETS - 100% | $1,850,540,957 |
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
(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 $4,740,787 or 0.3% 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 |
Utica Shale Drilling Program (non-operating revenue interest) | 10/5/16 - 9/1/17 | $3,081,982 |
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 | 10/5/16 - 4/5/18 | $6,161,487 |
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 | $464,855 |
Fidelity Securities Lending Cash Central Fund | 1,083 |
Total | $465,938 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount 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. 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. 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.
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