Quarterly Holdings Report
for
Fidelity® Dividend Growth Fund
April 30, 2021
Schedule of Investments April 30, 2021 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 99.8% | |||
Shares | Value (000s) | ||
COMMUNICATION SERVICES - 7.7% | |||
Entertainment - 2.6% | |||
Activision Blizzard, Inc. | 629,800 | $57,431 | |
Electronic Arts, Inc. | 189,100 | 26,867 | |
The Walt Disney Co. (a) | 553,700 | 102,999 | |
187,297 | |||
Interactive Media & Services - 3.4% | |||
Alphabet, Inc. Class A (a) | 39,300 | 92,493 | |
Facebook, Inc. Class A (a) | 290,500 | 94,436 | |
Tencent Holdings Ltd. | 534,800 | 42,662 | |
Z Holdings Corp. | 2,768,600 | 12,793 | |
242,384 | |||
Media - 1.7% | |||
Comcast Corp. Class A | 1,181,792 | 66,358 | |
Interpublic Group of Companies, Inc. | 1,618,500 | 51,387 | |
117,745 | |||
TOTAL COMMUNICATION SERVICES | 547,426 | ||
CONSUMER DISCRETIONARY - 13.3% | |||
Auto Components - 1.0% | |||
BorgWarner, Inc. | 812,800 | 39,486 | |
Lear Corp. | 155,700 | 28,624 | |
68,110 | |||
Automobiles - 1.2% | |||
General Motors Co. (a) | 978,800 | 56,007 | |
Harley-Davidson, Inc. | 452,500 | 21,887 | |
Hyundai Motor Co. | 43,960 | 8,334 | |
86,228 | |||
Hotels, Restaurants & Leisure - 3.4% | |||
Aristocrat Leisure Ltd. | 1,209,836 | 34,642 | |
Churchill Downs, Inc. | 173,500 | 36,695 | |
Domino's Pizza, Inc. | 71,900 | 30,366 | |
Hilton Worldwide Holdings, Inc. | 262,600 | 33,797 | |
Marriott International, Inc. Class A | 245,700 | 36,491 | |
Restaurant Brands International, Inc. (b) | 675,100 | 46,319 | |
Starbucks Corp. | 94,100 | 10,774 | |
Wingstop, Inc. | 59,800 | 9,473 | |
238,557 | |||
Household Durables - 2.5% | |||
Lennar Corp. Class A | 531,700 | 55,084 | |
Sony Group Corp. | 487,000 | 48,690 | |
Whirlpool Corp. | 323,000 | 76,373 | |
180,147 | |||
Internet & Direct Marketing Retail - 0.2% | |||
eBay, Inc. | 194,000 | 10,823 | |
Multiline Retail - 1.4% | |||
Dollar General Corp. | 313,800 | 67,389 | |
Target Corp. | 166,900 | 34,592 | |
101,981 | |||
Specialty Retail - 1.8% | |||
Camping World Holdings, Inc. (b) | 1,247,000 | 54,294 | |
Lowe's Companies, Inc. | 250,100 | 49,082 | |
Williams-Sonoma, Inc. | 152,500 | 26,039 | |
129,415 | |||
Textiles, Apparel & Luxury Goods - 1.8% | |||
PVH Corp. | 458,599 | 51,904 | |
Tapestry, Inc. | 1,546,200 | 73,986 | |
125,890 | |||
TOTAL CONSUMER DISCRETIONARY | 941,151 | ||
CONSUMER STAPLES - 5.5% | |||
Beverages - 2.2% | |||
Diageo PLC | 740,111 | 33,225 | |
Keurig Dr. Pepper, Inc. (b) | 1,720,300 | 61,673 | |
The Coca-Cola Co. | 1,171,000 | 63,211 | |
158,109 | |||
Household Products - 1.5% | |||
Energizer Holdings, Inc. | 714,500 | 35,225 | |
Spectrum Brands Holdings, Inc. | 767,675 | 67,663 | |
102,888 | |||
Tobacco - 1.8% | |||
Altria Group, Inc. | 1,258,214 | 60,080 | |
Swedish Match Co. AB | 796,500 | 65,334 | |
125,414 | |||
TOTAL CONSUMER STAPLES | 386,411 | ||
ENERGY - 3.7% | |||
Oil, Gas & Consumable Fuels - 3.7% | |||
Cameco Corp. (b) | 1,153,600 | 19,392 | |
Canadian Natural Resources Ltd. | 1,284,000 | 38,975 | |
Exxon Mobil Corp. | 1,514,397 | 86,684 | |
Hess Corp. | 382,500 | 28,500 | |
Reliance Industries Ltd. sponsored GDR (c) | 1,262,400 | 68,296 | |
Tourmaline Oil Corp. | 984,000 | 21,231 | |
263,078 | |||
FINANCIALS - 10.8% | |||
Banks - 5.5% | |||
Bank of America Corp. | 2,820,317 | 114,307 | |
JPMorgan Chase & Co. | 826,935 | 127,191 | |
Wells Fargo & Co. | 3,201,293 | 144,218 | |
385,716 | |||
Capital Markets - 2.5% | |||
BlackRock, Inc. Class A | 82,800 | 67,838 | |
Coinbase Global, Inc. (a) | 47,100 | 14,019 | |
Intercontinental Exchange, Inc. | 511,300 | 60,185 | |
Raymond James Financial, Inc. | 250,900 | 32,813 | |
174,855 | |||
Consumer Finance - 1.1% | |||
American Express Co. | 73,900 | 11,333 | |
Discover Financial Services | 612,800 | 69,859 | |
81,192 | |||
Insurance - 1.7% | |||
Arthur J. Gallagher & Co. | 440,700 | 63,879 | |
The Travelers Companies, Inc. | 356,500 | 55,136 | |
119,015 | |||
TOTAL FINANCIALS | 760,778 | ||
HEALTH CARE - 10.9% | |||
Biotechnology - 1.2% | |||
AbbVie, Inc. | 738,800 | 82,376 | |
Health Care Equipment & Supplies - 0.5% | |||
Envista Holdings Corp. (a) | 825,200 | 35,715 | |
Health Care Providers & Services - 4.6% | |||
Anthem, Inc. | 23,800 | 9,029 | |
Cigna Corp. | 358,200 | 89,195 | |
CVS Health Corp. | 552,800 | 42,234 | |
Humana, Inc. | 155,500 | 69,235 | |
UnitedHealth Group, Inc. | 296,306 | 118,167 | |
327,860 | |||
Life Sciences Tools & Services - 0.9% | |||
Thermo Fisher Scientific, Inc. | 128,600 | 60,472 | |
Pharmaceuticals - 3.7% | |||
AstraZeneca PLC (United Kingdom) | 333,000 | 35,446 | |
Bristol-Myers Squibb Co. | 1,042,200 | 65,054 | |
Eli Lilly & Co. | 316,600 | 57,865 | |
Merck KGaA | 205,700 | 36,143 | |
Roche Holding AG (participation certificate) | 136,000 | 44,357 | |
UCB SA | 255,700 | 23,689 | |
262,554 | |||
TOTAL HEALTH CARE | 768,977 | ||
INDUSTRIALS - 12.1% | |||
Aerospace & Defense - 1.4% | |||
Airbus Group NV | 248,500 | 29,885 | |
HEICO Corp. Class A | 118,151 | 14,920 | |
The Boeing Co. (a) | 247,000 | 57,875 | |
102,680 | |||
Air Freight & Logistics - 1.0% | |||
FedEx Corp. | 113,700 | 33,008 | |
United Parcel Service, Inc. Class B | 197,700 | 40,303 | |
73,311 | |||
Airlines - 0.3% | |||
Copa Holdings SA Class A (a) | 210,600 | 18,217 | |
Commercial Services & Supplies - 0.8% | |||
GFL Environmental, Inc. | 1,623,100 | 53,480 | |
Electrical Equipment - 0.3% | |||
AMETEK, Inc. | 158,000 | 21,319 | |
Industrial Conglomerates - 2.1% | |||
General Electric Co. | 9,428,600 | 123,703 | |
Roper Technologies, Inc. | 60,900 | 27,188 | |
150,891 | |||
Machinery - 2.8% | |||
AG Growth International, Inc. | 476,400 | 16,705 | |
Allison Transmission Holdings, Inc. | 1,299,902 | 53,907 | |
Cummins, Inc. | 121,600 | 30,648 | |
Fortive Corp. | 298,600 | 21,147 | |
PACCAR, Inc. | 445,700 | 40,060 | |
Toro Co. | 310,900 | 35,629 | |
198,096 | |||
Professional Services - 1.4% | |||
Equifax, Inc. | 165,100 | 37,846 | |
IHS Markit Ltd. | 404,100 | 43,473 | |
ManTech International Corp. Class A | 246,000 | 20,996 | |
102,315 | |||
Road & Rail - 2.0% | |||
Canadian Pacific Railway Ltd. | 74,800 | 27,910 | |
Knight-Swift Transportation Holdings, Inc. Class A | 724,184 | 34,124 | |
Ryder System, Inc. | 256,700 | 20,495 | |
TFI International, Inc. (Canada) | 648,100 | 56,788 | |
139,317 | |||
TOTAL INDUSTRIALS | 859,626 | ||
INFORMATION TECHNOLOGY - 27.1% | |||
Electronic Equipment & Components - 0.9% | |||
Hitachi Ltd. | 649,400 | 31,974 | |
Hon Hai Precision Industry Co. Ltd. (Foxconn) | 6,534,000 | 27,123 | |
Vontier Corp. (a) | 6,702 | 210 | |
59,307 | |||
IT Services - 5.7% | |||
Amadeus IT Holding SA Class A (a) | 91,700 | 6,245 | |
Amdocs Ltd. | 189,800 | 14,565 | |
Cognizant Technology Solutions Corp. Class A | 220,900 | 17,760 | |
DXC Technology Co. | 1,001,600 | 32,963 | |
Fidelity National Information Services, Inc. | 422,500 | 64,600 | |
Genpact Ltd. | 1,436,200 | 68,263 | |
Global Payments, Inc. | 147,000 | 31,551 | |
Visa, Inc. Class A | 721,900 | 168,607 | |
404,554 | |||
Semiconductors & Semiconductor Equipment - 7.7% | |||
Analog Devices, Inc. | 210,600 | 32,255 | |
Broadcom, Inc. | 217,100 | 99,041 | |
Intel Corp. | 501,000 | 28,823 | |
KLA Corp. | 152,100 | 47,965 | |
Lam Research Corp. | 111,600 | 69,242 | |
Marvell Technology, Inc. | 818,800 | 37,018 | |
NVIDIA Corp. | 149,100 | 89,517 | |
NXP Semiconductors NV | 98,400 | 18,943 | |
Qualcomm, Inc. | 281,200 | 39,031 | |
SK Hynix, Inc. | 278,100 | 31,832 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 281,800 | 32,897 | |
Universal Display Corp. | 89,900 | 20,110 | |
546,674 | |||
Software - 9.5% | |||
Intuit, Inc. | 179,800 | 74,106 | |
Microsoft Corp. | 2,080,500 | 524,658 | |
SAP SE | 196,800 | 27,556 | |
SS&C Technologies Holdings, Inc. | 654,200 | 48,555 | |
674,875 | |||
Technology Hardware, Storage & Peripherals - 3.3% | |||
Apple, Inc. | 1,142,272 | 150,163 | |
Samsung Electronics Co. Ltd. | 1,147,010 | 83,594 | |
233,757 | |||
TOTAL INFORMATION TECHNOLOGY | 1,919,167 | ||
MATERIALS - 3.9% | |||
Chemicals - 1.7% | |||
Albemarle Corp. U.S. | 122,100 | 20,534 | |
International Flavors & Fragrances, Inc. | 148,466 | 21,107 | |
LG Chemical Ltd. | 36,320 | 30,270 | |
Olin Corp. | 202,720 | 8,723 | |
The Chemours Co. LLC | 197,697 | 5,970 | |
Valvoline, Inc. | 1,080,300 | 33,921 | |
120,525 | |||
Metals & Mining - 2.2% | |||
Barrick Gold Corp. | 998,400 | 21,216 | |
First Quantum Minerals Ltd. | 708,700 | 16,334 | |
Freeport-McMoRan, Inc. | 852,900 | 32,163 | |
Glencore Xstrata PLC | 6,603,300 | 26,898 | |
Lundin Mining Corp. | 1,602,100 | 19,356 | |
Newmont Corp. | 680,300 | 42,458 | |
158,425 | |||
TOTAL MATERIALS | 278,950 | ||
REAL ESTATE - 2.8% | |||
Equity Real Estate Investment Trusts (REITs) - 2.8% | |||
American Tower Corp. | 181,900 | 46,343 | |
CoreSite Realty Corp. | 246,200 | 29,911 | |
Four Corners Property Trust, Inc. | 1,283,100 | 37,043 | |
National Retail Properties, Inc. | 250,500 | 11,628 | |
Simon Property Group, Inc. | 381,500 | 46,444 | |
The Macerich Co. | 2,036,700 | 28,086 | |
199,455 | |||
UTILITIES - 2.0% | |||
Electric Utilities - 0.5% | |||
Edison International | 575,500 | 34,213 | |
Independent Power and Renewable Electricity Producers - 0.9% | |||
NextEra Energy Partners LP | 150,400 | 11,212 | |
The AES Corp. | 1,960,200 | 54,533 | |
65,745 | |||
Multi-Utilities - 0.6% | |||
CenterPoint Energy, Inc. | 1,713,700 | 41,969 | |
TOTAL UTILITIES | 141,927 | ||
TOTAL COMMON STOCKS | |||
(Cost $5,172,832) | 7,066,946 | ||
Money Market Funds - 1.4% | |||
Fidelity Cash Central Fund 0.04% (d) | 6,279,793 | 6,281 | |
Fidelity Securities Lending Cash Central Fund 0.04% (d)(e) | 89,432,159 | 89,441 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $95,722) | 95,722 | ||
TOTAL INVESTMENT IN SECURITIES - 101.2% | |||
(Cost $5,268,554) | 7,162,668 | ||
NET OTHER ASSETS (LIABILITIES) - (1.2)% | (84,562) | ||
NET ASSETS - 100% | $7,078,106 |
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) 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 $68,296,000 or 1.0% of net assets.
(d) 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.
(e) Investment made with cash collateral received from securities on loan.
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 |
(Amounts in thousands) | |
Fidelity Cash Central Fund | $10 |
Fidelity Securities Lending Cash Central Fund | 151 |
Total | $161 |
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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