NPORT-EX 2 QTLY_361_20210930.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity® Mega Cap Stock Fund
September 30, 2021
GII-NPRT1-1121
1.808770.117
Common Stocks - 97.1%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 13.5%
 
 
 
Diversified Telecommunication Services - 0.9%
 
 
 
Verizon Communications, Inc.
 
284,476
15,364,549
Entertainment - 4.0%
 
 
 
Activision Blizzard, Inc.
 
85,441
6,612,279
Nintendo Co. Ltd. ADR
 
188,800
11,186,400
The Walt Disney Co. (a)
 
205,999
34,848,851
Universal Music Group NV (b)
 
487,399
12,984,984
 
 
 
65,632,514
Interactive Media & Services - 6.5%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (a)
 
18,700
49,994,824
 Class C (a)
 
18,440
49,148,316
Facebook, Inc. Class A (a)
 
27,700
9,401,103
 
 
 
108,544,243
Media - 2.1%
 
 
 
Comcast Corp. Class A
 
503,397
28,154,994
Vivendi SA (b)
 
487,399
6,136,330
 
 
 
34,291,324
TOTAL COMMUNICATION SERVICES
 
 
223,832,630
CONSUMER DISCRETIONARY - 4.4%
 
 
 
Automobiles - 0.4%
 
 
 
General Motors Co. (a)
 
128,900
6,794,319
Hotels, Restaurants & Leisure - 1.6%
 
 
 
Booking Holdings, Inc. (a)
 
9,648
22,903,098
Marriott International, Inc. Class A (a)
 
22,000
3,257,980
 
 
 
26,161,078
Household Durables - 1.2%
 
 
 
Sony Group Corp. sponsored ADR
 
172,700
19,097,166
Internet & Direct Marketing Retail - 0.0%
 
 
 
Alibaba Group Holding Ltd. sponsored ADR (a)
 
3,400
503,370
Specialty Retail - 1.2%
 
 
 
Lowe's Companies, Inc.
 
101,511
20,592,521
TOTAL CONSUMER DISCRETIONARY
 
 
73,148,454
CONSUMER STAPLES - 4.6%
 
 
 
Beverages - 3.0%
 
 
 
Anheuser-Busch InBev SA NV ADR (b)
 
126,207
7,115,551
Diageo PLC
 
509,720
24,678,097
Keurig Dr. Pepper, Inc.
 
257,000
8,779,120
The Coca-Cola Co.
 
175,000
9,182,250
 
 
 
49,755,018
Food & Staples Retailing - 1.1%
 
 
 
Costco Wholesale Corp.
 
2,200
988,570
Sysco Corp.
 
199,099
15,629,272
Walmart, Inc.
 
6,600
919,908
 
 
 
17,537,750
Food Products - 0.1%
 
 
 
Mondelez International, Inc.
 
34,400
2,001,392
Household Products - 0.1%
 
 
 
Procter & Gamble Co.
 
15,700
2,194,860
Tobacco - 0.3%
 
 
 
Altria Group, Inc.
 
100,200
4,561,104
TOTAL CONSUMER STAPLES
 
 
76,050,124
ENERGY - 8.2%
 
 
 
Oil, Gas & Consumable Fuels - 8.2%
 
 
 
Canadian Natural Resources Ltd. (b)
 
418,200
15,281,028
Exxon Mobil Corp.
 
1,312,487
77,200,485
Hess Corp.
 
362,516
28,316,125
Imperial Oil Ltd. (b)
 
165,700
5,236,832
Phillips 66 Co.
 
138,300
9,685,149
Thungela Resources Ltd. (a)
 
30,205
186,559
 
 
 
135,906,178
FINANCIALS - 17.1%
 
 
 
Banks - 15.1%
 
 
 
Bank of America Corp.
 
1,876,661
79,664,259
JPMorgan Chase & Co. (c)
 
319,630
52,320,235
PNC Financial Services Group, Inc.
 
97,131
19,002,709
U.S. Bancorp
 
209,212
12,435,561
Wells Fargo & Co.
 
1,853,121
86,003,346
 
 
 
249,426,110
Capital Markets - 0.3%
 
 
 
Charles Schwab Corp.
 
68,000
4,953,120
Consumer Finance - 0.0%
 
 
 
American Express Co.
 
7,100
1,189,463
Diversified Financial Services - 1.7%
 
 
 
Berkshire Hathaway, Inc. Class B (a)
 
102,100
27,867,174
TOTAL FINANCIALS
 
 
283,435,867
HEALTH CARE - 12.0%
 
 
 
Health Care Equipment & Supplies - 3.5%
 
 
 
Abbott Laboratories
 
26,500
3,130,445
Boston Scientific Corp. (a)
 
564,024
24,473,001
Danaher Corp.
 
21,200
6,454,128
Koninklijke Philips Electronics NV (depositary receipt) (NY Reg.)
 
60,900
2,706,396
Medtronic PLC
 
166,296
20,845,204
 
 
 
57,609,174
Health Care Providers & Services - 2.2%
 
 
 
Cigna Corp.
 
46,662
9,339,866
Humana, Inc.
 
2,500
972,875
UnitedHealth Group, Inc.
 
66,698
26,061,577
 
 
 
36,374,318
Pharmaceuticals - 6.3%
 
 
 
Bayer AG
 
177,118
9,613,169
Bristol-Myers Squibb Co.
 
396,899
23,484,514
Eli Lilly & Co.
 
29,900
6,908,395
GlaxoSmithKline PLC sponsored ADR
 
422,433
16,141,165
Johnson & Johnson
 
173,013
27,941,600
Roche Holding AG (participation certificate)
 
20,228
7,382,613
Sanofi SA sponsored ADR
 
273,573
13,188,954
 
 
 
104,660,410
TOTAL HEALTH CARE
 
 
198,643,902
INDUSTRIALS - 14.4%
 
 
 
Aerospace & Defense - 2.9%
 
 
 
Airbus Group NV (a)
 
91,800
12,170,470
Raytheon Technologies Corp.
 
133,730
11,495,431
The Boeing Co. (a)
 
112,900
24,831,226
 
 
 
48,497,127
Air Freight & Logistics - 1.7%
 
 
 
FedEx Corp.
 
1,400
307,006
United Parcel Service, Inc. Class B
 
155,579
28,330,936
 
 
 
28,637,942
Electrical Equipment - 0.6%
 
 
 
Rockwell Automation, Inc.
 
34,900
10,261,996
Industrial Conglomerates - 7.3%
 
 
 
3M Co.
 
3,600
631,512
General Electric Co.
 
1,142,904
117,753,397
Siemens AG sponsored ADR
 
17,979
1,476,795
 
 
 
119,861,704
Machinery - 1.9%
 
 
 
Caterpillar, Inc.
 
81,300
15,607,161
Deere & Co.
 
34,600
11,593,422
Epiroc AB (B Shares)
 
206,100
3,650,398
 
 
 
30,850,981
TOTAL INDUSTRIALS
 
 
238,109,750
INFORMATION TECHNOLOGY - 18.2%
 
 
 
IT Services - 3.2%
 
 
 
Fidelity National Information Services, Inc.
 
57,000
6,935,760
Fiserv, Inc. (a)
 
26,100
2,831,850
IBM Corp.
 
1,100
152,823
MasterCard, Inc. Class A
 
25,252
8,779,615
Visa, Inc. Class A
 
151,988
33,855,327
 
 
 
52,555,375
Semiconductors & Semiconductor Equipment - 3.9%
 
 
 
Applied Materials, Inc.
 
146,774
18,894,217
ASML Holding NV
 
5,836
4,348,462
Intel Corp.
 
189,400
10,091,232
Lam Research Corp.
 
22,100
12,578,215
Qualcomm, Inc.
 
147,116
18,975,022
 
 
 
64,887,148
Software - 6.6%
 
 
 
Microsoft Corp.
 
332,966
93,869,775
Salesforce.com, Inc. (a)
 
12,800
3,471,616
SAP SE sponsored ADR
 
92,100
12,437,184
 
 
 
109,778,575
Technology Hardware, Storage & Peripherals - 4.5%
 
 
 
Apple, Inc.
 
518,632
73,386,428
TOTAL INFORMATION TECHNOLOGY
 
 
300,607,526
MATERIALS - 3.9%
 
 
 
Chemicals - 0.9%
 
 
 
DuPont de Nemours, Inc.
 
167,328
11,376,631
Linde PLC
 
10,400
3,051,152
 
 
 
14,427,783
Metals & Mining - 3.0%
 
 
 
Anglo American PLC (United Kingdom)
 
363,359
12,735,244
BHP Group Ltd. sponsored ADR (b)
 
188,570
10,092,266
Freeport-McMoRan, Inc.
 
732,000
23,811,960
Glencore Xstrata PLC
 
770,300
3,623,573
 
 
 
50,263,043
TOTAL MATERIALS
 
 
64,690,826
REAL ESTATE - 0.7%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.7%
 
 
 
American Tower Corp.
 
9,200
2,441,772
Simon Property Group, Inc.
 
68,300
8,876,951
 
 
 
11,318,723
UTILITIES - 0.1%
 
 
 
Electric Utilities - 0.1%
 
 
 
Southern Co.
 
20,100
1,245,597
 
TOTAL COMMON STOCKS
 (Cost $1,050,672,880)
 
 
 
1,606,989,577
 
 
 
 
Other - 0.3%
 
 
Shares
Value ($)
 
Other - 0.3%
 
 
 
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f)
  (Cost $9,253,725)
 
7,127,347
5,544,398
 
 
 
 
 
 
 
 
Money Market Funds - 5.6%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 0.06% (g)
 
44,542,279
44,551,187
Fidelity Securities Lending Cash Central Fund 0.06% (g)(h)
 
47,046,225
47,050,930
 
TOTAL MONEY MARKET FUNDS
 (Cost $91,602,117)
 
 
91,602,117
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 103.0%
 (Cost $1,151,528,722)
 
 
 
1,704,136,092
NET OTHER ASSETS (LIABILITIES) - (3.0)%  
(49,237,245)
NET ASSETS - 100.0%
1,654,898,847
 
 
 Written Options
 
Counterparty
Number
of Contracts
Notional
Amount ($)
Exercise
Price ($)
Expiration
Date
Value ($)
Call Options
 
 
 
 
 
 
JPMorgan Chase & Co.
Chicago Board Options Exchange
141
2,308,029
170.00
12/17/21
(64,719)
 
 
 
 
 
 
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
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 $2,308,029.
 
(d)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(e)
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues).  At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,544,398 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)
10/05/16 - 12/16/20
9,253,725
 
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
%ownership,
end
of period
Fidelity Cash Central Fund 0.06%
72,643,657
62,417,516
90,509,986
10,743
-
-
44,551,187
0.1%
Fidelity Securities Lending Cash Central Fund 0.06%
23,456,173
106,800,009
83,205,252
(20,220)
-
-
47,050,930
0.1%
Total
96,099,830
169,217,525
173,715,238
(9,477)
-
-
91,602,117
 
 
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. Securities 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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
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)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing 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 any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Options: Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date.
 
The Fund used exchange-traded options to manage its exposure to the stock market.
 
Open options at period end are presented in the Schedule of Investments under the captions "Purchased Options," "Purchased Swaptions," "Written Options" and "Written Swaptions." Writing puts and buying calls tend to increase exposure to the underlying instrument while buying puts and writing calls tend to decrease exposure to the underlying instrument. For purchased options, risk of loss is limited to the premium paid, and for written options, risk of loss is the change in value in excess of the premium received.
 
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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