NPORT-EX 2 QTLY_1271_20201031.htm

Quarterly Holdings Report
for

Fidelity® Blue Chip Value Fund

October 31, 2020







BCV-QTLY-1220
1.809087.117





Schedule of Investments October 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.7%   
 Shares Value 
COMMUNICATION SERVICES - 5.0%   
Diversified Telecommunication Services - 1.6%   
Verizon Communications, Inc. 99,000 $5,642,010 
Media - 3.4%   
Comcast Corp. Class A 297,800 12,579,072 
TOTAL COMMUNICATION SERVICES  18,221,082 
CONSUMER DISCRETIONARY - 7.3%   
Household Durables - 0.8%   
Newell Brands, Inc. 159,100 2,809,706 
Multiline Retail - 2.1%   
Dollar General Corp. 36,500 7,617,915 
Specialty Retail - 4.4%   
Best Buy Co., Inc. 77,800 8,678,590 
Lowe's Companies, Inc. 48,400 7,652,040 
  16,330,630 
TOTAL CONSUMER DISCRETIONARY  26,758,251 
CONSUMER STAPLES - 7.6%   
Beverages - 1.0%   
C&C Group PLC (United Kingdom) 1,700,000 3,563,402 
Food & Staples Retailing - 2.2%   
Kroger Co. 254,200 8,187,782 
Food Products - 1.4%   
Tyson Foods, Inc. Class A 90,400 5,173,592 
Household Products - 0.7%   
Procter & Gamble Co. 13,600 1,864,560 
Spectrum Brands Holdings, Inc. 13,600 773,432 
  2,637,992 
Tobacco - 2.3%   
Altria Group, Inc. 233,500 8,424,680 
TOTAL CONSUMER STAPLES  27,987,448 
ENERGY - 1.9%   
Oil, Gas & Consumable Fuels - 1.9%   
Parex Resources, Inc. (a) 485,900 4,730,258 
Teekay LNG Partners LP 213,300 2,220,453 
  6,950,711 
FINANCIALS - 26.6%   
Banks - 8.6%   
Bank of America Corp. 540,800 12,816,960 
JPMorgan Chase & Co. 106,100 10,402,044 
M&T Bank Corp. 47,400 4,909,692 
PNC Financial Services Group, Inc. 29,700 3,322,836 
  31,451,532 
Capital Markets - 3.1%   
Affiliated Managers Group, Inc. 86,200 6,496,894 
State Street Corp. 82,800 4,876,920 
  11,373,814 
Consumer Finance - 2.8%   
Capital One Financial Corp. 112,100 8,192,268 
Discover Financial Services 29,900 1,943,799 
  10,136,067 
Diversified Financial Services - 5.9%   
Berkshire Hathaway, Inc. Class B (a) 107,400 21,684,060 
Insurance - 6.2%   
Allstate Corp. 59,800 5,307,250 
Chubb Ltd. 74,100 9,626,331 
The Travelers Companies, Inc. 66,400 8,015,144 
  22,948,725 
TOTAL FINANCIALS  97,594,198 
HEALTH CARE - 25.6%   
Biotechnology - 5.6%   
Alexion Pharmaceuticals, Inc. (a) 81,000 9,326,340 
Amgen, Inc. 25,500 5,531,970 
Regeneron Pharmaceuticals, Inc. (a) 10,400 5,653,024 
  20,511,334 
Health Care Providers & Services - 14.0%   
Anthem, Inc. 33,400 9,111,520 
Cigna Corp. 56,600 9,450,502 
CVS Health Corp. 174,300 9,776,487 
Humana, Inc. 18,200 7,266,896 
UnitedHealth Group, Inc. 51,500 15,714,710 
  51,320,115 
Pharmaceuticals - 6.0%   
Bristol-Myers Squibb Co. 33,100 1,934,695 
Bristol-Myers Squibb Co. rights (a) 107,800 351,428 
Roche Holding AG (participation certificate) 39,300 12,628,329 
Sanofi SA sponsored ADR 152,800 6,921,840 
  21,836,292 
TOTAL HEALTH CARE  93,667,741 
INDUSTRIALS - 8.1%   
Air Freight & Logistics - 0.9%   
Deutsche Post AG 70,500 3,123,382 
Building Products - 1.7%   
Owens Corning 92,900 6,082,163 
Electrical Equipment - 1.8%   
Regal Beloit Corp. 65,600 6,471,440 
Industrial Conglomerates - 1.3%   
Siemens AG 42,100 4,937,499 
Machinery - 0.6%   
ITT, Inc. 18,600 1,125,486 
Oshkosh Corp. 17,000 1,145,120 
  2,270,606 
Trading Companies & Distributors - 1.8%   
HD Supply Holdings, Inc. (a) 167,300 6,668,578 
TOTAL INDUSTRIALS  29,553,668 
INFORMATION TECHNOLOGY - 8.2%   
Communications Equipment - 3.4%   
Cisco Systems, Inc. 348,800 12,521,920 
IT Services - 4.8%   
Amdocs Ltd. 122,000 6,878,360 
Capgemini SA 14,900 1,720,405 
Cognizant Technology Solutions Corp. Class A 124,100 8,863,222 
  17,461,987 
TOTAL INFORMATION TECHNOLOGY  29,983,907 
MATERIALS - 0.1%   
Metals & Mining - 0.1%   
BHP Billiton Ltd. sponsored ADR 10,900 524,399 
REAL ESTATE - 1.9%   
Real Estate Management & Development - 1.9%   
CBRE Group, Inc. (a) 139,300 7,020,720 
UTILITIES - 0.4%   
Independent Power and Renewable Electricity Producers - 0.4%   
Vistra Corp. 85,900 1,492,083 
TOTAL COMMON STOCKS   
(Cost $335,646,631)  339,754,208 
Nonconvertible Preferred Stocks - 4.0%   
INFORMATION TECHNOLOGY - 4.0%   
Technology Hardware, Storage & Peripherals - 4.0%   
Samsung Electronics Co. Ltd.   
(Cost $12,974,103) 328,000 14,559,038 
Money Market Funds - 3.1%   
Fidelity Cash Central Fund 0.10% (b)   
(Cost $11,180,761) 11,178,526 11,180,761 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $359,801,495)  365,494,007 
NET OTHER ASSETS (LIABILITIES) - 0.2%  855,003 
NET ASSETS - 100%  $366,349,010 

Legend

 (a) Non-income producing

 (b) 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.

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 $3,741 
Fidelity Securities Lending Cash Central Fund 4 
Total $3,745 

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 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. 

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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