NPORT-EX 2 QTLY_2457_20220331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Series Large Cap Stock Fund
March 31, 2022
MHT-NPRT3-0522
1.951036.109
Common Stocks - 99.5%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 9.0%
 
 
 
Diversified Telecommunication Services - 0.4%
 
 
 
Cellnex Telecom SA (a)
 
387,000
18,624,146
Verizon Communications, Inc.
 
700,933
35,705,527
 
 
 
54,329,673
Entertainment - 1.8%
 
 
 
Activision Blizzard, Inc.
 
284,322
22,777,035
Nintendo Co. Ltd. ADR
 
621,400
39,092,274
The Walt Disney Co. (b)
 
859,693
117,915,492
Universal Music Group NV
 
2,678,781
71,699,499
 
 
 
251,484,300
Interactive Media & Services - 3.9%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (b)
 
76,011
211,413,195
 Class C (b)
 
67,573
188,730,713
Meta Platforms, Inc. Class A (b)
 
553,000
122,965,080
Snap, Inc. Class A (b)
 
476,400
17,145,636
 
 
 
540,254,624
Media - 2.9%
 
 
 
Comcast Corp. Class A
 
7,205,742
337,372,840
Interpublic Group of Companies, Inc.
 
1,874,670
66,457,052
 
 
 
403,829,892
TOTAL COMMUNICATION SERVICES
 
 
1,249,898,489
CONSUMER DISCRETIONARY - 4.3%
 
 
 
Auto Components - 0.4%
 
 
 
BorgWarner, Inc.
 
1,552,862
60,406,332
Automobiles - 0.1%
 
 
 
General Motors Co. (b)
 
297,400
13,008,276
Hotels, Restaurants & Leisure - 1.6%
 
 
 
Booking Holdings, Inc. (b)
 
51,237
120,327,533
Expedia, Inc. (b)
 
218,600
42,773,462
Marriott International, Inc. Class A (b)
 
240,500
42,267,875
Starbucks Corp.
 
166,000
15,101,020
 
 
 
220,469,890
Household Durables - 0.7%
 
 
 
Mohawk Industries, Inc. (b)
 
317,289
39,407,294
Sony Group Corp. sponsored ADR
 
194,500
19,977,095
Whirlpool Corp.
 
221,363
38,247,099
 
 
 
97,631,488
Internet & Direct Marketing Retail - 0.3%
 
 
 
Amazon.com, Inc. (b)
 
11,600
37,815,420
Chewy, Inc. (b)(c)
 
209,100
8,527,098
 
 
 
46,342,518
Specialty Retail - 1.2%
 
 
 
Lowe's Companies, Inc.
 
779,107
157,527,644
TOTAL CONSUMER DISCRETIONARY
 
 
595,386,148
CONSUMER STAPLES - 5.8%
 
 
 
Beverages - 1.7%
 
 
 
Diageo PLC sponsored ADR
 
333,900
67,828,446
Keurig Dr. Pepper, Inc.
 
1,122,500
42,542,750
The Coca-Cola Co.
 
1,969,795
122,127,290
 
 
 
232,498,486
Food & Staples Retailing - 1.3%
 
 
 
Costco Wholesale Corp.
 
24,600
14,165,910
Performance Food Group Co. (b)
 
431,300
21,957,483
Sysco Corp.
 
1,172,600
95,742,790
U.S. Foods Holding Corp. (b)
 
595,600
22,412,428
Walmart, Inc.
 
188,300
28,041,636
 
 
 
182,320,247
Food Products - 0.1%
 
 
 
Lamb Weston Holdings, Inc.
 
252,800
15,145,248
Household Products - 0.2%
 
 
 
Colgate-Palmolive Co.
 
17,300
1,311,859
Spectrum Brands Holdings, Inc.
 
326,182
28,938,867
 
 
 
30,250,726
Tobacco - 2.5%
 
 
 
Altria Group, Inc.
 
5,831,759
304,709,408
Swedish Match Co. AB
 
4,500,400
33,926,269
 
 
 
338,635,677
TOTAL CONSUMER STAPLES
 
 
798,850,384
ENERGY - 11.1%
 
 
 
Oil, Gas & Consumable Fuels - 11.1%
 
 
 
Canadian Natural Resources Ltd.
 
415,400
25,721,805
Cenovus Energy, Inc. (Canada)
 
10,330,481
172,209,114
EQT Corp.
 
313,500
10,787,535
Exxon Mobil Corp.
 
9,779,343
807,675,938
Harbour Energy PLC
 
4,645,500
29,682,857
Hess Corp.
 
2,524,672
270,240,891
Imperial Oil Ltd.
 
521,700
25,247,250
Kosmos Energy Ltd. (b)
 
12,369,935
88,939,833
Phillips 66 Co.
 
365,400
31,566,906
Tourmaline Oil Corp.
 
1,627,400
74,981,594
 
 
 
1,537,053,723
FINANCIALS - 16.9%
 
 
 
Banks - 12.2%
 
 
 
Bank of America Corp.
 
10,699,794
441,045,509
JPMorgan Chase & Co.
 
1,038,671
141,591,631
M&T Bank Corp.
 
162,520
27,547,140
PNC Financial Services Group, Inc.
 
892,721
164,662,388
Truist Financial Corp.
 
2,074,123
117,602,774
U.S. Bancorp
 
1,746,119
92,806,225
Wells Fargo & Co.
 
14,342,837
695,053,881
 
 
 
1,680,309,548
Capital Markets - 3.1%
 
 
 
KKR & Co. LP
 
1,216,851
71,149,278
Morgan Stanley
 
834,724
72,954,878
Northern Trust Corp.
 
1,323,946
154,173,512
Raymond James Financial, Inc.
 
358,703
39,425,047
State Street Corp.
 
1,113,941
97,046,540
 
 
 
434,749,255
Consumer Finance - 0.4%
 
 
 
Discover Financial Services
 
490,500
54,048,195
Insurance - 0.2%
 
 
 
Chubb Ltd.
 
151,197
32,341,038
Thrifts & Mortgage Finance - 1.0%
 
 
 
MGIC Investment Corp.
 
5,648,377
76,535,508
Radian Group, Inc.
 
2,892,408
64,240,382
 
 
 
140,775,890
TOTAL FINANCIALS
 
 
2,342,223,926
HEALTH CARE - 14.0%
 
 
 
Biotechnology - 0.6%
 
 
 
ADC Therapeutics SA (b)
 
220,500
3,239,145
Alnylam Pharmaceuticals, Inc. (b)
 
161,150
26,314,184
Argenx SE ADR (b)
 
14,700
4,635,057
Crinetics Pharmaceuticals, Inc. (b)
 
389,800
8,556,110
Insmed, Inc. (b)
 
691,829
16,257,982
Intercept Pharmaceuticals, Inc. (b)(c)
 
895,118
14,563,570
Vaxcyte, Inc. (b)
 
173,900
4,199,685
Verve Therapeutics, Inc.
 
134,300
3,064,726
 
 
 
80,830,459
Health Care Equipment & Supplies - 1.6%
 
 
 
Abbott Laboratories
 
77,200
9,137,392
Becton, Dickinson & Co.
 
139,206
37,028,796
Boston Scientific Corp. (b)
 
3,640,719
161,247,445
iRhythm Technologies, Inc. (b)
 
1,100
173,217
Koninklijke Philips Electronics NV (depositary receipt) (NY Reg.)
 
484,100
14,779,573
 
 
 
222,366,423
Health Care Providers & Services - 5.9%
 
 
 
Cardinal Health, Inc.
 
1,207,658
68,474,209
Centene Corp. (b)
 
158,600
13,352,534
Cigna Corp.
 
666,511
159,702,701
Covetrus, Inc. (b)
 
376,473
6,320,982
CVS Health Corp.
 
1,479,252
149,715,095
Guardant Health, Inc. (b)
 
234,100
15,506,784
Humana, Inc.
 
45,600
19,843,752
McKesson Corp.
 
544,521
166,694,214
Oak Street Health, Inc. (b)
 
188,700
5,072,256
UnitedHealth Group, Inc.
 
409,181
208,670,035
 
 
 
813,352,562
Life Sciences Tools & Services - 0.2%
 
 
 
Danaher Corp.
 
88,100
25,842,373
Pharmaceuticals - 5.7%
 
 
 
Bayer AG
 
1,954,472
133,684,118
Bristol-Myers Squibb Co.
 
3,788,960
276,707,749
Eli Lilly & Co.
 
154,800
44,330,076
GlaxoSmithKline PLC sponsored ADR
 
3,436,136
149,678,084
Johnson & Johnson
 
914,271
162,036,249
Pliant Therapeutics, Inc. (b)
 
234,300
1,642,443
Sanofi SA sponsored ADR
 
478,500
24,566,190
Viatris, Inc.
 
185,500
2,018,240
 
 
 
794,663,149
TOTAL HEALTH CARE
 
 
1,937,054,966
INDUSTRIALS - 14.3%
 
 
 
Aerospace & Defense - 2.8%
 
 
 
Airbus Group NV
 
583,100
70,361,799
General Dynamics Corp.
 
172,160
41,521,549
Huntington Ingalls Industries, Inc.
 
111,550
22,247,532
MTU Aero Engines AG
 
51,600
12,027,283
Raytheon Technologies Corp.
 
212,969
21,098,839
Safran SA
 
104,500
12,303,362
The Boeing Co. (b)
 
1,087,191
208,197,077
 
 
 
387,757,441
Air Freight & Logistics - 2.2%
 
 
 
FedEx Corp.
 
295,647
68,409,759
United Parcel Service, Inc. Class B
 
1,093,056
234,416,790
 
 
 
302,826,549
Airlines - 0.1%
 
 
 
Copa Holdings SA Class A (b)
 
48,500
4,056,540
Ryanair Holdings PLC sponsored ADR (b)
 
113,400
9,879,408
 
 
 
13,935,948
Building Products - 0.2%
 
 
 
Johnson Controls International PLC
 
327,700
21,487,289
Commercial Services & Supplies - 0.2%
 
 
 
ACV Auctions, Inc. Class A (b)
 
1,559,000
23,088,790
Electrical Equipment - 0.9%
 
 
 
Acuity Brands, Inc.
 
234,669
44,422,842
Hubbell, Inc. Class B
 
152,814
28,082,629
Regal Rexnord Corp.
 
20,100
2,990,478
Vertiv Holdings Co.
 
4,016,800
56,235,200
 
 
 
131,731,149
Industrial Conglomerates - 6.3%
 
 
 
3M Co.
 
166,373
24,769,612
General Electric Co.
 
9,332,864
853,957,056
 
 
 
878,726,668
Machinery - 1.0%
 
 
 
Cummins, Inc.
 
79,200
16,244,712
Epiroc AB (A Shares)
 
60,100
1,285,471
Flowserve Corp.
 
844,685
30,324,192
Fortive Corp.
 
386,500
23,549,445
Otis Worldwide Corp.
 
238,884
18,382,124
PACCAR, Inc.
 
88,600
7,803,002
Stanley Black & Decker, Inc.
 
121,800
17,026,422
Westinghouse Air Brake Tech Co.
 
291,985
28,080,197
 
 
 
142,695,565
Professional Services - 0.1%
 
 
 
Equifax, Inc.
 
38,400
9,104,640
Road & Rail - 0.5%
 
 
 
Knight-Swift Transportation Holdings, Inc. Class A
 
1,325,215
66,870,349
Trading Companies & Distributors - 0.0%
 
 
 
Beijer Ref AB (B Shares)
 
228,600
4,167,238
TOTAL INDUSTRIALS
 
 
1,982,391,626
INFORMATION TECHNOLOGY - 19.6%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Mirion Technologies, Inc. (d)
 
3,311,098
26,720,561
IT Services - 4.4%
 
 
 
Amadeus IT Holding SA Class A (b)
 
371,500
24,154,226
Edenred SA
 
908,400
45,140,894
Fidelity National Information Services, Inc.
 
560,500
56,285,410
Genpact Ltd.
 
530,700
23,090,757
Global Payments, Inc.
 
75,200
10,290,368
IBM Corp.
 
140,100
18,215,802
MasterCard, Inc. Class A
 
109,989
39,307,869
PayPal Holdings, Inc. (b)
 
328,000
37,933,200
Sabre Corp. (b)(c)
 
2,525,000
28,860,750
Snowflake, Inc. (b)
 
7,500
1,718,475
Twilio, Inc. Class A (b)
 
249,100
41,054,171
Unisys Corp. (b)
 
1,905,099
41,169,189
Visa, Inc. Class A
 
1,065,193
236,227,852
 
 
 
603,448,963
Semiconductors & Semiconductor Equipment - 2.8%
 
 
 
Analog Devices, Inc.
 
145,938
24,106,039
Applied Materials, Inc.
 
288,202
37,985,024
Intel Corp.
 
1,229,300
60,924,108
Lam Research Corp.
 
42,100
22,633,381
Marvell Technology, Inc.
 
508,291
36,449,548
Qualcomm, Inc.
 
1,369,131
209,230,599
 
 
 
391,328,699
Software - 8.6%
 
 
 
Adobe, Inc. (b)
 
55,100
25,104,662
Autodesk, Inc. (b)
 
122,528
26,263,877
Coupa Software, Inc. (b)
 
15,500
1,575,265
DocuSign, Inc. (b)
 
122,800
13,154,336
DoubleVerify Holdings, Inc. (b)
 
224,600
5,653,182
Dynatrace, Inc. (b)
 
416,194
19,602,737
Elastic NV (b)
 
440,100
39,146,895
Microsoft Corp.
 
2,993,405
922,896,690
PTC, Inc. (b)
 
143,900
15,500,908
Salesforce.com, Inc. (b)
 
45,500
9,660,560
SAP SE sponsored ADR
 
894,946
99,303,208
Workday, Inc. Class A (b)
 
42,900
10,272,834
 
 
 
1,188,135,154
Technology Hardware, Storage & Peripherals - 3.6%
 
 
 
Apple, Inc.
 
2,776,904
484,875,207
Samsung Electronics Co. Ltd.
 
271,740
15,515,786
 
 
 
500,390,993
TOTAL INFORMATION TECHNOLOGY
 
 
2,710,024,370
MATERIALS - 3.3%
 
 
 
Chemicals - 0.7%
 
 
 
Axalta Coating Systems Ltd. (b)
 
499,700
12,282,626
DuPont de Nemours, Inc.
 
1,199,100
88,229,778
 
 
 
100,512,404
Metals & Mining - 2.6%
 
 
 
First Quantum Minerals Ltd.
 
2,562,200
88,702,968
Freeport-McMoRan, Inc.
 
4,210,542
209,432,359
Glencore Xstrata PLC
 
8,142,300
52,979,580
 
 
 
351,114,907
TOTAL MATERIALS
 
 
451,627,311
REAL ESTATE - 0.8%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.8%
 
 
 
American Tower Corp.
 
136,381
34,261,635
Equinix, Inc.
 
4,422
3,279,444
Simon Property Group, Inc.
 
549,300
72,265,908
 
 
 
109,806,987
UTILITIES - 0.4%
 
 
 
Electric Utilities - 0.3%
 
 
 
Entergy Corp.
 
110,700
12,924,225
Southern Co.
 
405,500
29,402,805
 
 
 
42,327,030
Multi-Utilities - 0.1%
 
 
 
Sempra Energy
 
34,380
5,779,966
TOTAL UTILITIES
 
 
48,106,996
 
TOTAL COMMON STOCKS
 (Cost $8,420,634,740)
 
 
 
13,762,424,926
 
 
 
 
Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.0%
 
 
 
COMMUNICATION SERVICES - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Reddit, Inc. Series E (d)(e)
 
17,600
1,087,581
 
 
 
 
Nonconvertible Preferred Stocks - 0.1%
 
 
 
INDUSTRIALS - 0.1%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Embraer SA sponsored ADR (b)
 
1,529,100
19,281,951
 
 
 
 
 
TOTAL PREFERRED STOCKS
 (Cost $18,348,432)
 
 
 
20,369,532
 
 
 
 
Other - 0.1%
 
 
Shares
Value ($)
 
Other - 0.1%
 
 
 
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f)
  (Cost $28,495,829)
 
22,323,330
8,033,206
 
 
 
 
Money Market Funds - 2.4%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 0.31% (g)
 
296,797,164
296,856,523
Fidelity Securities Lending Cash Central Fund 0.31% (g)(h)
 
33,359,500
33,362,836
 
TOTAL MONEY MARKET FUNDS
 (Cost $330,219,359)
 
 
330,219,359
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 102.1%
 (Cost $8,797,698,360)
 
 
 
14,121,047,023
NET OTHER ASSETS (LIABILITIES) - (2.1)%  
(286,407,513)
NET ASSETS - 100.0%
13,834,639,510
 
 
Legend
 
(a)
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 $18,624,146 or 0.1% of net assets.
 
(b)
Non-income producing
 
(c)
Security or a portion of the security is on loan at period end.
 
(d)
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 $35,841,348 or 0.3% of net assets.
 
(e)
Level 3 security
 
(f)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(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 ($)
 
Mirion Technologies, Inc.
6/16/21
33,110,980
Reddit, Inc. Series E
5/18/21
747,546
Utica Shale Drilling Program (non-operating revenue interest)
10/05/16 - 12/16/20
28,495,830
 
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 0.31%
112,941,949
1,437,398,874
1,253,484,300
58,329
-
-
296,856,523
0.6%
Fidelity Securities Lending Cash Central Fund 0.31%
191,405,919
823,421,990
981,465,073
8,781,225
-
-
33,362,836
0.1%
Total
304,347,868
2,260,820,864
2,234,949,373
8,839,554
-
-
330,219,359
 
 
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 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing 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.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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