NPORT-EX 2 QTLY_330_20210430.htm

Quarterly Holdings Report
for

Fidelity® Dividend Growth Fund

April 30, 2021







DGF-QTLY-0621
1.800335.117





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 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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