NPORT-EX 2 QTLY_2457_20220930.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Series Large Cap Stock Fund
September 30, 2022
MHT-NPRT1-1122
1.951037.109
Common Stocks - 95.1%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 7.7%
 
 
 
Diversified Telecommunication Services - 0.3%
 
 
 
Cellnex Telecom SA (a)
 
387,000
11,937,630
Verizon Communications, Inc.
 
710,633
26,982,735
 
 
 
38,920,365
Entertainment - 1.4%
 
 
 
Activision Blizzard, Inc.
 
284,322
21,136,497
Nintendo Co. Ltd. ADR
 
441,900
22,523,643
The Walt Disney Co. (b)
 
820,893
77,434,837
Universal Music Group NV
 
2,865,781
53,676,222
 
 
 
174,771,199
Interactive Media & Services - 3.8%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (b)
 
1,898,325
181,574,786
 Class C (b)
 
1,724,660
165,826,059
Match Group, Inc. (b)
 
65,600
3,132,400
Meta Platforms, Inc. Class A (b)
 
762,500
103,456,000
Snap, Inc. Class A (b)
 
1,322,400
12,985,968
 
 
 
466,975,213
Media - 2.2%
 
 
 
Comcast Corp. Class A
 
7,713,142
226,226,455
Interpublic Group of Companies, Inc.
 
1,944,570
49,780,992
 
 
 
276,007,447
TOTAL COMMUNICATION SERVICES
 
 
956,674,224
CONSUMER DISCRETIONARY - 3.7%
 
 
 
Auto Components - 0.3%
 
 
 
BorgWarner, Inc.
 
1,229,962
38,620,807
Automobiles - 0.1%
 
 
 
General Motors Co.
 
297,400
9,543,566
Hotels, Restaurants & Leisure - 1.4%
 
 
 
Booking Holdings, Inc. (b)
 
57,837
95,038,337
Expedia, Inc. (b)
 
218,600
20,480,634
Marriott International, Inc. Class A
 
268,500
37,627,590
Starbucks Corp.
 
166,000
13,987,160
 
 
 
167,133,721
Household Durables - 0.4%
 
 
 
Mohawk Industries, Inc. (b)
 
314,489
28,678,252
Sony Group Corp. sponsored ADR
 
194,500
12,457,725
Whirlpool Corp.
 
49,463
6,668,107
 
 
 
47,804,084
Internet & Direct Marketing Retail - 0.2%
 
 
 
Amazon.com, Inc. (b)
 
245,400
27,730,200
Multiline Retail - 0.1%
 
 
 
Target Corp.
 
52,000
7,716,280
Specialty Retail - 1.2%
 
 
 
Lowe's Companies, Inc.
 
791,407
148,634,149
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
NIKE, Inc. Class B
 
75,800
6,300,496
TOTAL CONSUMER DISCRETIONARY
 
 
453,483,303
CONSUMER STAPLES - 5.3%
 
 
 
Beverages - 1.8%
 
 
 
Diageo PLC sponsored ADR
 
348,900
59,246,709
Keurig Dr. Pepper, Inc.
 
1,345,700
48,202,974
The Coca-Cola Co.
 
2,167,395
121,417,468
 
 
 
228,867,151
Food & Staples Retailing - 1.5%
 
 
 
Costco Wholesale Corp.
 
17,500
8,264,725
Performance Food Group Co. (b)
 
501,900
21,556,605
Sysco Corp.
 
1,196,000
84,569,160
U.S. Foods Holding Corp. (b)
 
595,600
15,747,664
Walmart, Inc.
 
384,400
49,856,680
 
 
 
179,994,834
Food Products - 0.1%
 
 
 
Lamb Weston Holdings, Inc.
 
177,100
13,703,998
Household Products - 0.1%
 
 
 
Colgate-Palmolive Co.
 
17,300
1,215,325
Spectrum Brands Holdings, Inc.
 
285,982
11,161,877
 
 
 
12,377,202
Personal Products - 0.3%
 
 
 
Haleon PLC ADR (b)(c)
 
5,459,936
33,251,010
Tobacco - 1.5%
 
 
 
Altria Group, Inc.
 
3,760,259
151,839,258
Swedish Match Co. AB
 
3,888,200
38,461,034
 
 
 
190,300,292
TOTAL CONSUMER STAPLES
 
 
658,494,487
ENERGY - 13.4%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
Baker Hughes Co. Class A
 
110,100
2,307,696
Oil, Gas & Consumable Fuels - 13.4%
 
 
 
Canadian Natural Resources Ltd.
 
415,400
19,336,316
Cenovus Energy, Inc. (Canada)
 
10,911,081
167,613,667
EQT Corp.
 
349,400
14,238,050
Exxon Mobil Corp.
 
10,637,543
928,763,881
Hess Corp.
 
2,528,072
275,534,567
Imperial Oil Ltd.
 
1,468,400
63,579,110
Kosmos Energy Ltd. (b)
 
13,508,409
69,838,475
Phillips 66 Co.
 
258,400
20,858,048
Tourmaline Oil Corp.
 
1,709,900
88,865,039
 
 
 
1,648,627,153
TOTAL ENERGY
 
 
1,650,934,849
FINANCIALS - 16.3%
 
 
 
Banks - 12.0%
 
 
 
Bank of America Corp.
 
12,085,794
364,990,979
JPMorgan Chase & Co.
 
1,112,771
116,284,570
M&T Bank Corp.
 
170,920
30,136,614
PNC Financial Services Group, Inc.
 
888,921
132,822,576
Truist Financial Corp.
 
2,143,623
93,333,345
U.S. Bancorp
 
1,795,119
72,379,198
Wells Fargo & Co.
 
16,661,437
670,122,996
 
 
 
1,480,070,278
Capital Markets - 2.9%
 
 
 
KKR & Co. LP
 
1,408,251
60,554,793
Morgan Stanley
 
860,824
68,013,704
Northern Trust Corp.
 
1,413,446
120,934,440
Raymond James Financial, Inc.
 
373,403
36,899,684
State Street Corp.
 
1,116,441
67,890,777
 
 
 
354,293,398
Consumer Finance - 0.2%
 
 
 
Discover Financial Services
 
327,900
29,812,668
Insurance - 0.2%
 
 
 
Chubb Ltd.
 
141,397
25,717,286
Thrifts & Mortgage Finance - 1.0%
 
 
 
MGIC Investment Corp.
 
5,760,477
73,849,315
Radian Group, Inc.
 
2,718,408
52,438,090
 
 
 
126,287,405
TOTAL FINANCIALS
 
 
2,016,181,035
HEALTH CARE - 14.4%
 
 
 
Biotechnology - 0.6%
 
 
 
ADC Therapeutics SA (b)
 
243,209
1,172,267
Alnylam Pharmaceuticals, Inc. (b)
 
169,950
34,017,192
Argenx SE ADR (b)
 
14,700
5,189,835
Crinetics Pharmaceuticals, Inc. (b)
 
389,800
7,655,672
Insmed, Inc. (b)
 
691,829
14,901,997
Intercept Pharmaceuticals, Inc. (b)(c)
 
351,999
4,910,386
Vaxcyte, Inc. (b)
 
173,900
4,173,600
Verve Therapeutics, Inc. (b)
 
172,200
5,915,070
 
 
 
77,936,019
Health Care Equipment & Supplies - 1.6%
 
 
 
Abbott Laboratories
 
54,500
5,273,420
Becton, Dickinson & Co.
 
144,706
32,244,838
Boston Scientific Corp. (b)
 
3,798,319
147,108,895
iRhythm Technologies, Inc. (b)
 
1,100
137,808
Koninklijke Philips Electronics NV (depositary receipt) (NY Reg.)
 
739,476
11,380,536
 
 
 
196,145,497
Health Care Providers & Services - 6.9%
 
 
 
Cardinal Health, Inc.
 
1,221,458
81,446,819
Centene Corp. (b)
 
111,200
8,652,472
Cigna Corp.
 
671,811
186,407,398
CVS Health Corp.
 
1,459,552
139,197,474
Guardant Health, Inc. (b)
 
303,769
16,351,885
Humana, Inc.
 
45,600
22,124,664
McKesson Corp.
 
524,821
178,370,913
Oak Street Health, Inc. (b)
 
188,700
4,626,924
UnitedHealth Group, Inc.
 
422,481
213,369,804
 
 
 
850,548,353
Life Sciences Tools & Services - 0.2%
 
 
 
Danaher Corp.
 
111,500
28,799,335
Pharmaceuticals - 5.1%
 
 
 
Bayer AG
 
1,188,772
54,772,128
Bristol-Myers Squibb Co.
 
3,874,160
275,414,034
Eli Lilly & Co.
 
147,300
47,629,455
GSK PLC sponsored ADR (c)
 
2,840,028
83,582,024
Johnson & Johnson
 
924,571
151,037,919
Pliant Therapeutics, Inc. (b)
 
234,300
4,894,527
Sanofi SA sponsored ADR
 
241,600
9,185,632
Viatris, Inc.
 
185,500
1,580,460
 
 
 
628,096,179
TOTAL HEALTH CARE
 
 
1,781,525,383
INDUSTRIALS - 12.7%
 
 
 
Aerospace & Defense - 2.8%
 
 
 
Airbus Group NV
 
716,700
61,779,811
General Dynamics Corp.
 
178,160
37,800,207
Huntington Ingalls Industries, Inc.
 
111,550
24,708,325
MTU Aero Engines AG
 
51,600
7,711,858
Raytheon Technologies Corp.
 
212,969
17,433,642
Safran SA
 
110,900
10,090,764
The Boeing Co. (b)
 
1,510,696
182,915,072
 
 
 
342,439,679
Air Freight & Logistics - 1.9%
 
 
 
FedEx Corp.
 
344,947
51,214,281
United Parcel Service, Inc. Class B
 
1,114,756
180,077,684
 
 
 
231,291,965
Airlines - 0.1%
 
 
 
Copa Holdings SA Class A (b)
 
48,500
3,249,985
Ryanair Holdings PLC sponsored ADR (b)
 
113,400
6,624,828
 
 
 
9,874,813
Building Products - 0.1%
 
 
 
Johnson Controls International PLC
 
327,700
16,129,394
Commercial Services & Supplies - 0.1%
 
 
 
ACV Auctions, Inc. Class A (b)
 
1,219,100
8,765,329
Electrical Equipment - 1.0%
 
 
 
Acuity Brands, Inc.
 
234,669
36,953,327
Hubbell, Inc. Class B
 
159,914
35,660,822
Regal Rexnord Corp.
 
20,100
2,821,236
Vertiv Holdings Co.
 
4,389,300
42,663,996
 
 
 
118,099,381
Industrial Conglomerates - 5.3%
 
 
 
3M Co.
 
147,273
16,273,667
General Electric Co.
 
10,407,864
644,350,860
 
 
 
660,624,527
Machinery - 0.9%
 
 
 
Cummins, Inc.
 
79,200
16,117,992
Epiroc AB (A Shares)
 
60,100
859,761
Flowserve Corp.
 
844,685
20,525,846
Fortive Corp.
 
386,500
22,532,950
Otis Worldwide Corp.
 
238,884
15,240,799
Stanley Black & Decker, Inc.
 
111,500
8,385,915
Westinghouse Air Brake Tech Co.
 
291,985
23,752,980
 
 
 
107,416,243
Professional Services - 0.0%
 
 
 
Equifax, Inc.
 
38,400
6,582,912
Road & Rail - 0.5%
 
 
 
Knight-Swift Transportation Holdings, Inc. Class A
 
1,312,915
64,240,931
Trading Companies & Distributors - 0.0%
 
 
 
Beijer Ref AB (B Shares)
 
228,600
2,810,915
TOTAL INDUSTRIALS
 
 
1,568,276,089
INFORMATION TECHNOLOGY - 17.8%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Mirion Technologies, Inc. (b)(d)
 
3,311,098
24,733,902
IT Services - 3.7%
 
 
 
Amadeus IT Holding SA Class A (b)
 
371,500
17,223,722
Edenred SA
 
897,000
41,325,466
Fidelity National Information Services, Inc.
 
581,500
43,943,955
Genpact Ltd.
 
496,200
21,718,674
Global Payments, Inc.
 
75,200
8,125,360
IBM Corp.
 
140,100
16,645,281
MasterCard, Inc. Class A
 
114,089
32,440,066
PayPal Holdings, Inc. (b)
 
373,900
32,181,573
Sabre Corp. (b)
 
2,134,300
10,991,645
Snowflake, Inc. (b)
 
7,500
1,274,700
Twilio, Inc. Class A (b)
 
286,700
19,822,438
Unisys Corp. (b)
 
1,905,099
14,383,497
Visa, Inc. Class A
 
1,144,293
203,283,651
 
 
 
463,360,028
Semiconductors & Semiconductor Equipment - 2.4%
 
 
 
Analog Devices, Inc.
 
145,938
20,335,001
Applied Materials, Inc.
 
352,602
28,888,682
Intel Corp.
 
1,226,100
31,596,597
Lam Research Corp.
 
60,600
22,179,600
Marvell Technology, Inc.
 
761,091
32,658,415
NVIDIA Corp.
 
46,900
5,693,191
Qualcomm, Inc.
 
1,342,531
151,679,152
 
 
 
293,030,638
Software - 8.1%
 
 
 
Adobe, Inc. (b)
 
130,400
35,886,080
Autodesk, Inc. (b)
 
130,228
24,326,590
Coupa Software, Inc. (b)
 
33,800
1,987,440
DoubleVerify Holdings, Inc. (b)
 
224,600
6,142,810
Dynatrace, Inc. (b)
 
489,394
17,035,805
Elastic NV (b)
 
484,900
34,786,726
Microsoft Corp.
 
3,325,005
774,393,665
PTC, Inc. (b)
 
132,800
13,890,880
Salesforce.com, Inc. (b)
 
66,300
9,536,592
SAP SE sponsored ADR
 
919,746
74,729,363
Workday, Inc. Class A (b)
 
42,900
6,530,238
 
 
 
999,246,189
Technology Hardware, Storage & Peripherals - 3.4%
 
 
 
Apple, Inc.
 
2,973,714
410,967,275
Samsung Electronics Co. Ltd.
 
271,740
9,899,761
 
 
 
420,867,036
TOTAL INFORMATION TECHNOLOGY
 
 
2,201,237,793
MATERIALS - 2.6%
 
 
 
Chemicals - 0.6%
 
 
 
Axalta Coating Systems Ltd. (b)
 
225,300
4,744,818
DuPont de Nemours, Inc.
 
1,223,200
61,649,280
 
 
 
66,394,098
Metals & Mining - 2.0%
 
 
 
First Quantum Minerals Ltd.
 
3,684,600
62,550,309
Freeport-McMoRan, Inc.
 
4,949,542
135,270,983
Glencore PLC
 
9,928,000
52,171,811
 
 
 
249,993,103
TOTAL MATERIALS
 
 
316,387,201
REAL ESTATE - 0.7%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.7%
 
 
 
American Tower Corp.
 
141,581
30,397,441
Equinix, Inc.
 
4,422
2,515,410
Simon Property Group, Inc.
 
585,800
52,575,550
 
 
 
85,488,401
UTILITIES - 0.5%
 
 
 
Electric Utilities - 0.4%
 
 
 
Entergy Corp.
 
110,700
11,139,741
PG&E Corp. (b)
 
969,300
12,116,250
Southern Co.
 
450,000
30,600,000
 
 
 
53,855,991
Multi-Utilities - 0.1%
 
 
 
Sempra Energy
 
34,380
5,154,937
TOTAL UTILITIES
 
 
59,010,928
 
TOTAL COMMON STOCKS
 (Cost $9,107,974,201)
 
 
 
11,747,693,693
 
 
 
 
Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.0%
 
 
 
COMMUNICATION SERVICES - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Reddit, Inc. Series E (b)(d)(e)
 
17,600
697,136
 
 
 
 
Nonconvertible Preferred Stocks - 0.1%
 
 
 
INDUSTRIALS - 0.1%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Embraer SA sponsored ADR (b)
 
1,749,000
15,041,400
 
 
 
 
 
TOTAL PREFERRED STOCKS
 (Cost $20,367,805)
 
 
 
15,738,536
 
 
 
 
Other - 0.1%
 
 
Shares
Value ($)
 
Other - 0.1%
 
 
 
Utica Shale Drilling Program (non-operating revenue interest) (d)(e)(f)
  (Cost $27,721,776)
 
22,323,330
9,817,064
 
 
 
 
Money Market Funds - 4.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 3.10% (g)
 
563,538,847
563,651,555
Fidelity Securities Lending Cash Central Fund 3.10% (g)(h)
 
44,148,571
44,152,986
 
TOTAL MONEY MARKET FUNDS
 (Cost $607,804,541)
 
 
607,804,541
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.2%
 (Cost $9,763,868,323)
 
 
 
12,381,053,834
NET OTHER ASSETS (LIABILITIES) - (0.2)%  
(28,506,083)
NET ASSETS - 100.0%
12,352,547,751
 
 
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 $11,937,630 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 $35,248,102 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
27,721,776
 
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 3.10%
761,480,223
1,054,685,554
1,252,514,222
3,647,140
-
-
563,651,555
1.1%
Fidelity Securities Lending Cash Central Fund 3.10%
21,387,036
149,431,062
126,665,112
43,995
-
-
44,152,986
0.1%
Total
782,867,259
1,204,116,616
1,379,179,334
3,691,135
-
-
607,804,541
 
 
 
 
 
 
 
 
 
 
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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