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iso4217:USD xbrli:pure xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES


Investment Company Act file number   811-00215


Fidelity Hastings Street Trust

 (Exact name of registrant as specified in charter)


245 Summer St., Boston, MA 02210

 (Address of principal executive offices)       (Zip code)


Nicole Macarchuk, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)



Registrant's telephone number, including area code:

617-563-7000



Date of fiscal year end:

June 30

 

 

Date of reporting period:

December 31, 2025


Item 1.

Reports to Stockholders



 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Series Large Cap Stock Fund
Fidelity® Series Large Cap Stock Fund :  FGLGX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Series Large Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Series Large Cap Stock Fund 
$ 0 A
0.00%B
 
A Amount represents less than $.50
B Amount represents less than 0.005%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$24,355,496,025
 
Number of Holdings
181
 
Portfolio Turnover
20%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
24.1
 
Industrials
18.3
 
Financials
15.1
 
Communication Services
10.6
 
Health Care
10.5
 
Energy
8.2
 
Consumer Staples
4.6
 
Consumer Discretionary
3.5
 
Materials
2.0
 
Utilities
1.0
 
Real Estate
0.4
 
 
Common Stocks
98.2
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
1.7
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 98.2                    
 
Preferred Stocks - 0.1                  
 
Short-Term Investments and Net Other Assets (Liabilities) - 1.7
 
United States
91.0
Canada
2.0
Zambia
1.3
Belgium
1.2
United Kingdom
1.2
Germany
0.8
Taiwan
0.7
Netherlands
0.7
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 91.0                    
 
Canada - 2.0                            
 
Zambia - 1.3                            
 
Belgium - 1.2                           
 
United Kingdom - 1.2                    
 
Germany - 0.8                           
 
Taiwan - 0.7                            
 
Netherlands - 0.7                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
7.5
 
Microsoft Corp
6.1
 
Wells Fargo & Co
5.6
 
Boeing Co
5.0
 
GE Aerospace
4.5
 
GE Vernova Inc
4.0
 
Exxon Mobil Corp
3.7
 
Alphabet Inc Class A
3.4
 
Bank of America Corp
2.9
 
Alphabet Inc Class C
2.9
 
 
45.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915162.101    2457-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity® Mega Cap Stock Fund :  FGRTX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Mega Cap Stock Fund 
$ 31 
0.58%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915160.101    361-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity Advisor® Mega Cap Stock Fund Class Z :  FZALX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class Z 
$ 25 
0.47%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915159.101    2537-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity Advisor® Mega Cap Stock Fund Class M :  FTGRX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class M 
$ 60 
1.11%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915157.101    2037-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity Advisor® Mega Cap Stock Fund Class I :  FTRIX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class I 
$ 32 
0.59%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915158.101    2038-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity Advisor® Mega Cap Stock Fund Class C :  FGRCX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class C 
$ 87 
1.63%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915156.101    2036-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Mega Cap Stock Fund
Fidelity Advisor® Mega Cap Stock Fund Class A :  FGTAX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class A 
$ 46 
0.86%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
26.1
 
Industrials
15.6
 
Financials
13.2
 
Communication Services
11.1
 
Energy
8.1
 
Health Care
8.1
 
Consumer Staples
5.0
 
Consumer Discretionary
4.1
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.3
 
 
Common Stocks
93.2
Short-Term Investments and Net Other Assets (Liabilities)
6.8
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 93.2                    
 
Short-Term Investments and Net Other Assets (Liabilities) - 6.8
 
United States
92.6
Canada
1.4
United Kingdom
1.2
Taiwan
1.1
Zambia
0.8
Belgium
0.7
Germany
0.6
Netherlands
0.5
France
0.4
Others
0.7
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 92.6                    
 
Canada - 1.4                            
 
United Kingdom - 1.2                    
 
Taiwan - 1.1                            
 
Zambia - 0.8                            
 
Belgium - 0.7                           
 
Germany - 0.6                           
 
Netherlands - 0.5                       
 
France - 0.4                            
 
Others - 0.7                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
8.3
 
Microsoft Corp
6.5
 
Boeing Co
5.1
 
Wells Fargo & Co
4.8
 
GE Aerospace
4.1
 
GE Vernova Inc
3.8
 
Alphabet Inc Class A
3.8
 
Exxon Mobil Corp
3.6
 
Apple Inc
3.4
 
Alphabet Inc Class C
3.2
 
 
46.6
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915155.101    2034-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Growth Discovery Fund
Fidelity® Growth Discovery Fund :  FDSVX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Growth Discovery Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Growth Discovery Fund 
$ 25 
0.47%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$6,416,410,117
 
Number of Holdings
144
 
Portfolio Turnover
78%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
45.8
 
Communication Services
13.5
 
Consumer Discretionary
11.3
 
Financials
8.2
 
Health Care
8.1
 
Industrials
7.4
 
Materials
2.0
 
Consumer Staples
1.5
 
Utilities
0.9
 
Real Estate
0.6
 
Energy
0.5
 
 
Common Stocks
99.0
Preferred Stocks
0.8
Preferred Securities
0.0
Bonds
0.0
Short-Term Investments and Net Other Assets (Liabilities)
0.2
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 99.0                    
 
Preferred Stocks - 0.8                  
 
Preferred Securities - 0.0              
 
Bonds - 0.0                             
 
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
 
United States
91.1
Taiwan
2.9
Canada
1.7
China
1.0
Korea (South)
1.0
Belgium
0.9
Netherlands
0.4
Germany
0.4
Brazil
0.4
Others
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 91.1                    
 
Taiwan - 2.9                            
 
Canada - 1.7                            
 
China - 1.0                             
 
Korea (South) - 1.0                     
 
Belgium - 0.9                           
 
Netherlands - 0.4                       
 
Germany - 0.4                           
 
Brazil - 0.4                            
 
Others - 0.2                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
13.5
 
Microsoft Corp
10.0
 
Alphabet Inc Class A
6.6
 
Apple Inc
5.4
 
Amazon.com Inc
5.2
 
Broadcom Inc
4.8
 
Meta Platforms Inc Class A
4.1
 
Mastercard Inc Class A
3.6
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
2.9
 
Eli Lilly & Co
2.6
 
 
58.7
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915154.101    339-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Growth Discovery Fund
Fidelity® Growth Discovery Fund Class K :  FGDKX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Growth Discovery Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class K 
$ 21 
0.40%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$6,416,410,117
 
Number of Holdings
144
 
Portfolio Turnover
78%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
45.8
 
Communication Services
13.5
 
Consumer Discretionary
11.3
 
Financials
8.2
 
Health Care
8.1
 
Industrials
7.4
 
Materials
2.0
 
Consumer Staples
1.5
 
Utilities
0.9
 
Real Estate
0.6
 
Energy
0.5
 
 
Common Stocks
99.0
Preferred Stocks
0.8
Preferred Securities
0.0
Bonds
0.0
Short-Term Investments and Net Other Assets (Liabilities)
0.2
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 99.0                    
 
Preferred Stocks - 0.8                  
 
Preferred Securities - 0.0              
 
Bonds - 0.0                             
 
Short-Term Investments and Net Other Assets (Liabilities) - 0.2
 
United States
91.1
Taiwan
2.9
Canada
1.7
China
1.0
Korea (South)
1.0
Belgium
0.9
Netherlands
0.4
Germany
0.4
Brazil
0.4
Others
0.2
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 91.1                    
 
Taiwan - 2.9                            
 
Canada - 1.7                            
 
China - 1.0                             
 
Korea (South) - 1.0                     
 
Belgium - 0.9                           
 
Netherlands - 0.4                       
 
Germany - 0.4                           
 
Brazil - 0.4                            
 
Others - 0.2                            
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
13.5
 
Microsoft Corp
10.0
 
Alphabet Inc Class A
6.6
 
Apple Inc
5.4
 
Amazon.com Inc
5.2
 
Broadcom Inc
4.8
 
Meta Platforms Inc Class A
4.1
 
Mastercard Inc Class A
3.6
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
2.9
 
Eli Lilly & Co
2.6
 
 
58.7
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915153.101    2091-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Fund
Fidelity® Fund :  FFIDX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Fund 
$ 23 
0.42%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$9,113,136,791
 
Number of Holdings
88
 
Portfolio Turnover
53%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
24.8
 
Communication Services
16.9
 
Financials
16.0
 
Consumer Discretionary
12.6
 
Health Care
11.0
 
Industrials
8.3
 
Consumer Staples
4.9
 
Energy
2.8
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.5
 
 
Common Stocks
99.3
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
0.6
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 99.3                    
 
Preferred Stocks - 0.1                  
 
Short-Term Investments and Net Other Assets (Liabilities) - 0.6
 
United States
97.9
Canada
1.0
Belgium
0.4
United Kingdom
0.4
Netherlands
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 97.9                    
 
Canada - 1.0                            
 
Belgium - 0.4                           
 
United Kingdom - 0.4                    
 
Netherlands - 0.3                       
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
9.5
 
Alphabet Inc Class A
9.2
 
Microsoft Corp
7.3
 
Amazon.com Inc
5.6
 
Meta Platforms Inc Class A
5.0
 
Apple Inc
4.2
 
Bank of America Corp
3.3
 
Mastercard Inc Class A
3.2
 
Wells Fargo & Co
3.1
 
Coca-Cola Co/The
2.9
 
 
53.3
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915151.101    3-TSRS-0226    
 
 
 
SEMI-ANNUAL SHAREHOLDER REPORT | AS OF DECEMBER 31, 2025
 
 
Fidelity® Fund
Fidelity® Fund Class K :  FFDKX 
 
 
 
 
This semi-annual shareholder report contains information about Fidelity® Fund for the period July 1, 2025 to December 31, 2025. You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.
 
What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class K 
$ 18 
0.34%
 
Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$9,113,136,791
 
Number of Holdings
88
 
Portfolio Turnover
53%
 
What did the Fund invest in?
(as of December 31, 2025)
 
 
 
MARKET SECTORS
(% of Fund's net assets)
 
 
Information Technology
24.8
 
Communication Services
16.9
 
Financials
16.0
 
Consumer Discretionary
12.6
 
Health Care
11.0
 
Industrials
8.3
 
Consumer Staples
4.9
 
Energy
2.8
 
Materials
0.9
 
Utilities
0.7
 
Real Estate
0.5
 
 
Common Stocks
99.3
Preferred Stocks
0.1
Short-Term Investments and Net Other Assets (Liabilities)
0.6
ASSET ALLOCATION (% of Fund's net assets)
 
 
Common Stocks - 99.3                    
 
Preferred Stocks - 0.1                  
 
Short-Term Investments and Net Other Assets (Liabilities) - 0.6
 
United States
97.9
Canada
1.0
Belgium
0.4
United Kingdom
0.4
Netherlands
0.3
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)
 
 
United States - 97.9                    
 
Canada - 1.0                            
 
Belgium - 0.4                           
 
United Kingdom - 0.4                    
 
Netherlands - 0.3                       
 
 
 
TOP HOLDINGS
(% of Fund's net assets)
 
 
NVIDIA Corp
9.5
 
Alphabet Inc Class A
9.2
 
Microsoft Corp
7.3
 
Amazon.com Inc
5.6
 
Meta Platforms Inc Class A
5.0
 
Apple Inc
4.2
 
Bank of America Corp
3.3
 
Mastercard Inc Class A
3.2
 
Wells Fargo & Co
3.1
 
Coca-Cola Co/The
2.9
 
 
53.3
 
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2026 FMR LLC. All rights reserved.
 
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec
1.9915150.101    2088-TSRS-0226    
 

Item 2.

Code of Ethics


Not applicable.

 

Item 3.

Audit Committee Financial Expert


Not applicable.


Item 4.

Principal Accountant Fees and Services


Not applicable.


Item 5.

Audit Committee of Listed Registrants


Not applicable.


Item 6.  

Investments


(a)

Not applicable.


(b)

Not applicable


Item 7.

Financial Statements and Financial Highlights for Open-End Management Investment Companies



Fidelity® Series Large Cap Stock Fund
 
 
 
Semi-Annual Report
December 31, 2025

Contents

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)

Fidelity® Series Large Cap Stock Fund

Notes to Financial Statements

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2026 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)
Fidelity® Series Large Cap Stock Fund
Schedule of Investments December 31, 2025 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.2%
 
 
Shares
Value ($)
 
AUSTRALIA - 0.1%
 
 
 
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Santos Ltd
 
6,090,843
25,079,348
BELGIUM - 1.2%
 
 
 
Health Care - 1.2%
 
 
 
Pharmaceuticals - 1.2%
 
 
 
UCB SA
 
1,076,100
301,741,368
CANADA - 2.0%
 
 
 
Energy - 1.6%
 
 
 
Oil, Gas & Consumable Fuels - 1.6%
 
 
 
Athabasca Oil Corp (c)
 
7,492,000
38,372,926
Imperial Oil Ltd (b)
 
3,917,400
338,439,614
TOTAL ENERGY
 
 
376,812,540
Industrials - 0.4%
 
 
 
Aerospace & Defense - 0.4%
 
 
 
Bombardier Inc Class B (c)
 
596,500
101,477,360
TOTAL CANADA
 
 
478,289,900
DENMARK - 0.3%
 
 
 
Health Care - 0.3%
 
 
 
Pharmaceuticals - 0.3%
 
 
 
Novo Nordisk A/S Class B ADR (b)
 
1,272,600
64,749,888
FRANCE - 0.4%
 
 
 
Consumer Staples - 0.1%
 
 
 
Beverages - 0.1%
 
 
 
Pernod Ricard SA
 
415,400
35,685,818
Industrials - 0.3%
 
 
 
Aerospace & Defense - 0.3%
 
 
 
Airbus SE
 
305,900
71,037,318
TOTAL FRANCE
 
 
106,723,136
GERMANY - 0.8%
 
 
 
Information Technology - 0.8%
 
 
 
Software - 0.8%
 
 
 
SAP SE ADR
 
754,246
183,213,896
ITALY - 0.1%
 
 
 
Consumer Staples - 0.1%
 
 
 
Beverages - 0.1%
 
 
 
Davide Campari-Milano NV (b)
 
3,000,200
19,526,075
KOREA (SOUTH) - 0.0%
 
 
 
Information Technology - 0.0%
 
 
 
Semiconductors & Semiconductor Equipment - 0.0%
 
 
 
SK Hynix Inc
 
21,150
9,573,853
NETHERLANDS - 0.7%
 
 
 
Communication Services - 0.2%
 
 
 
Entertainment - 0.2%
 
 
 
Universal Music Group NV
 
1,970,081
51,359,690
Health Care - 0.1%
 
 
 
Biotechnology - 0.1%
 
 
 
Argenx SE ADR (c)
 
24,200
20,350,990
Information Technology - 0.4%
 
 
 
Semiconductors & Semiconductor Equipment - 0.4%
 
 
 
ASML Holding NV depository receipt
 
42,900
45,896,994
BE Semiconductor Industries NV
 
294,212
46,245,125
TOTAL INFORMATION TECHNOLOGY
 
 
92,142,119
TOTAL NETHERLANDS
 
 
163,852,799
SPAIN - 0.1%
 
 
 
Communication Services - 0.1%
 
 
 
Diversified Telecommunication Services - 0.1%
 
 
 
Cellnex Telecom SA (e)(f)
 
915,000
29,464,522
SWEDEN - 0.1%
 
 
 
Industrials - 0.1%
 
 
 
Machinery - 0.1%
 
 
 
Atlas Copco AB A Shares
 
1,579,300
28,115,612
TAIWAN - 0.7%
 
 
 
Information Technology - 0.7%
 
 
 
Semiconductors & Semiconductor Equipment - 0.7%
 
 
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
 
587,700
178,596,153
UNITED KINGDOM - 1.2%
 
 
 
Consumer Staples - 0.9%
 
 
 
Beverages - 0.2%
 
 
 
Diageo PLC ADR (b)
 
443,100
38,226,237
Tobacco - 0.7%
 
 
 
British American Tobacco PLC ADR
 
2,720,600
154,040,372
TOTAL CONSUMER STAPLES
 
 
192,266,609
Financials - 0.0%
 
 
 
Capital Markets - 0.0%
 
 
 
3i Group PLC
 
219,700
9,633,589
Industrials - 0.3%
 
 
 
Aerospace & Defense - 0.3%
 
 
 
Rolls-Royce Holdings PLC
 
5,217,500
80,692,357
TOTAL UNITED KINGDOM
 
 
282,592,555
UNITED STATES - 89.2%
 
 
 
Communication Services - 10.3%
 
 
 
Entertainment - 0.3%
 
 
 
Walt Disney Co/The
 
784,393
89,240,392
Interactive Media & Services - 9.1%
 
 
 
Alphabet Inc Class A
 
2,614,325
818,283,725
Alphabet Inc Class C
 
2,225,160
698,255,208
Meta Platforms Inc Class A
 
1,045,900
690,388,131
 
 
 
2,206,927,064
Media - 0.9%
 
 
 
Comcast Corp Class A
 
7,024,142
209,951,604
TOTAL COMMUNICATION SERVICES
 
 
2,506,119,060
Consumer Discretionary - 3.5%
 
 
 
Broadline Retail - 1.2%
 
 
 
Amazon.com Inc (c)
 
1,208,300
278,899,806
Hotels, Restaurants & Leisure - 0.7%
 
 
 
Booking Holdings Inc
 
6,837
36,614,391
Cava Group Inc (b)(c)
 
245,700
14,420,133
Chipotle Mexican Grill Inc (c)
 
328,500
12,154,500
Marriott International Inc/MD Class A1
 
150,400
46,660,096
Starbucks Corp
 
593,400
49,970,214
Wingstop Inc
 
55,837
13,316,566
 
 
 
173,135,900
Household Durables - 0.7%
 
 
 
Somnigroup International Inc
 
1,492,300
133,232,544
Whirlpool Corp (b)
 
360,363
25,996,587
 
 
 
159,229,131
Specialty Retail - 0.8%
 
 
 
Home Depot Inc/The
 
84,800
29,179,680
Lowe's Cos Inc
 
657,207
158,492,040
RH (c)
 
101,593
18,200,386
 
 
 
205,872,106
Textiles, Apparel & Luxury Goods - 0.1%
 
 
 
Lululemon Athletica Inc (c)
 
19,900
4,135,419
NIKE Inc Class B
 
436,000
27,777,560
 
 
 
31,912,979
TOTAL CONSUMER DISCRETIONARY
 
 
849,049,922
Consumer Staples - 3.5%
 
 
 
Beverages - 1.4%
 
 
 
Brown-Forman Corp Class B
 
1,514,986
39,480,535
Coca-Cola Co/The
 
2,270,095
158,702,342
Keurig Dr Pepper Inc
 
5,324,600
149,142,046
 
 
 
347,324,923
Consumer Staples Distribution & Retail - 0.8%
 
 
 
Performance Food Group Co (c)
 
304,600
27,389,632
Sprouts Farmers Market Inc (c)
 
343,408
27,359,315
Sysco Corp
 
487,700
35,938,613
Target Corp
 
707,900
69,197,225
US Foods Holding Corp (c)
 
403,000
30,353,960
 
 
 
190,238,745
Food Products - 0.0%
 
 
 
Lamb Weston Holdings Inc
 
1,891
79,214
Mondelez International Inc
 
131,300
7,067,879
 
 
 
7,147,093
Household Products - 0.0%
 
 
 
Procter & Gamble Co/The
 
96,100
13,772,091
Personal Care Products - 0.8%
 
 
 
Estee Lauder Cos Inc/The Class A
 
516,400
54,077,408
Kenvue Inc
 
7,943,411
137,023,840
 
 
 
191,101,248
Tobacco - 0.5%
 
 
 
Philip Morris International Inc
 
702,300
112,648,920
TOTAL CONSUMER STAPLES
 
 
862,233,020
Energy - 6.5%
 
 
 
Oil, Gas & Consumable Fuels - 6.5%
 
 
 
Chevron Corp
 
462,300
70,459,143
ConocoPhillips
 
790,300
73,979,983
Exxon Mobil Corp
 
7,574,101
911,467,314
Murphy Oil Corp
 
1,239,000
38,718,750
Shell PLC ADR
 
6,567,700
482,594,596
TOTAL ENERGY
 
 
1,577,219,786
Financials - 15.1%
 
 
 
Banks - 10.3%
 
 
 
Bank of America Corp
 
12,704,694
698,758,170
M&T Bank Corp
 
501,520
101,046,250
PNC Financial Services Group Inc/The
 
1,168,721
243,947,134
Truist Financial Corp
 
1,294,600
63,707,266
US Bancorp
 
689,519
36,792,734
Wells Fargo & Co
 
14,593,889
1,360,150,455
 
 
 
2,504,402,009
Capital Markets - 1.8%
 
 
 
Blue Owl Capital Inc Class A
 
3,782,900
56,516,526
Charles Schwab Corp/The
 
437,200
43,680,652
KKR & Co Inc Class A
 
1,512,951
192,870,993
Moody's Corp
 
34,000
17,368,900
MSCI Inc
 
5,500
3,155,515
Northern Trust Corp
 
828,851
113,212,758
Raymond James Financial Inc
 
106,903
17,167,553
 
 
 
443,972,897
Financial Services - 2.3%
 
 
 
Apollo Global Management Inc
 
318,100
46,048,156
Corpay Inc (c)
 
69,600
20,944,728
Global Payments Inc
 
126,400
9,783,360
Mastercard Inc Class A
 
147,489
84,198,520
PayPal Holdings Inc
 
373,900
21,828,282
Visa Inc Class A
 
1,058,693
371,294,222
 
 
 
554,097,268
Insurance - 0.7%
 
 
 
Arthur J Gallagher & Co
 
222,200
57,503,138
Brown & Brown Inc
 
1,065,800
84,944,260
Chubb Ltd
 
89,997
28,089,864
 
 
 
170,537,262
TOTAL FINANCIALS
 
 
3,673,009,436
Health Care - 8.8%
 
 
 
Biotechnology - 0.5%
 
 
 
Alnylam Pharmaceuticals Inc (c)
 
158,850
63,166,703
Biogen Inc (c)
 
72,400
12,741,676
Gilead Sciences Inc
 
140,800
17,281,792
Nuvalent Inc Class A (c)
 
22,300
2,243,156
Vaxcyte Inc (c)
 
432,100
19,937,094
 
 
 
115,370,421
Health Care Equipment & Supplies - 1.9%
 
 
 
Abbott Laboratories
 
175,300
21,963,337
Alcon AG (United States)
 
564,800
44,511,888
Baxter International Inc
 
5,249,500
100,317,945
Becton Dickinson & Co
 
144,706
28,083,093
Boston Scientific Corp (c)
 
2,229,695
212,601,419
Masimo Corp (c)
 
262,700
34,166,762
Medline Inc Class A
 
228,500
9,597,000
Solventum Corp (c)
 
178,118
14,114,070
 
 
 
465,355,514
Health Care Providers & Services - 2.8%
 
 
 
Cardinal Health Inc
 
245,058
50,359,419
Cigna Group/The
 
506,511
139,407,023
Humana Inc
 
351,200
89,952,856
McKesson Corp
 
110,821
90,905,358
Molina Healthcare Inc (c)
 
125,800
21,831,332
UnitedHealth Group Inc
 
814,881
269,000,367
 
 
 
661,456,355
Life Sciences Tools & Services - 1.0%
 
 
 
Bruker Corp
 
1,833,300
86,366,763
Danaher Corp
 
312,200
71,468,824
Thermo Fisher Scientific Inc
 
160,200
92,827,890
 
 
 
250,663,477
Pharmaceuticals - 2.6%
 
 
 
Eli Lilly & Co (d)
 
106,200
114,131,016
GSK PLC ADR
 
4,653,928
228,228,629
Haleon PLC ADR
 
14,872,736
150,363,361
Johnson & Johnson
 
486,077
100,593,635
Merck & Co Inc
 
482,400
50,777,424
 
 
 
644,094,065
TOTAL HEALTH CARE
 
 
2,136,939,832
Industrials - 17.2%
 
 
 
Aerospace & Defense - 10.2%
 
 
 
Boeing Co (c)
 
5,552,186
1,205,490,624
GE Aerospace
 
3,576,006
1,101,517,128
General Dynamics Corp
 
210,660
70,920,796
Howmet Aerospace Inc
 
127,300
26,099,046
Huntington Ingalls Industries Inc
 
215,150
73,166,061
RTX Corp
 
13,600
2,494,240
Textron Inc
 
68,368
5,959,639
 
 
 
2,485,647,534
Air Freight & Logistics - 1.0%
 
 
 
United Parcel Service Inc Class B
 
2,512,256
249,190,673
Building Products - 0.2%
 
 
 
A O Smith Corp
 
644,300
43,090,784
AAON Inc
 
38,065
2,902,456
Trex Co Inc (c)
 
253,000
8,875,240
 
 
 
54,868,480
Commercial Services & Supplies - 0.0%
 
 
 
Veralto Corp
 
101,866
10,164,189
Electrical Equipment - 4.5%
 
 
 
Emerson Electric Co
 
101,700
13,497,623
GE Vernova Inc (d)
 
1,478,159
966,080,378
Hubbell Inc
 
56,014
24,876,378
Vertiv Holdings Co Class A
 
535,696
86,788,109
 
 
 
1,091,242,488
Ground Transportation - 0.2%
 
 
 
Knight-Swift Transportation Holdings Inc
 
784,015
40,988,304
Machinery - 1.0%
 
 
 
Allison Transmission Holdings Inc
 
228,800
22,399,520
Cummins Inc
 
81,600
41,652,720
Deere & Co
 
69,400
32,310,558
Donaldson Co Inc
 
253,600
22,484,176
Nordson Corp
 
73,300
17,623,519
Otis Worldwide Corp
 
288,484
25,199,077
Stanley Black & Decker Inc
 
120,500
8,950,740
Westinghouse Air Brake Technologies Corp
 
367,219
78,382,896
 
 
 
249,003,206
Trading Companies & Distributors - 0.1%
 
 
 
Watsco Inc
 
52,900
17,824,655
TOTAL INDUSTRIALS
 
 
4,198,929,529
Information Technology - 22.2%
 
 
 
IT Services - 0.0%
 
 
 
Gartner Inc (c)
 
19,500
4,919,460
Semiconductors & Semiconductor Equipment - 12.3%
 
 
 
Applied Materials Inc
 
214,302
55,073,471
Broadcom Inc
 
1,756,600
607,959,260
First Solar Inc (c)
 
53,200
13,897,436
Lam Research Corp
 
551,300
94,371,534
Marvell Technology Inc
 
1,504,385
127,842,637
Micron Technology Inc
 
843,600
240,771,876
NVIDIA Corp
 
9,802,700
1,828,203,551
Teradyne Inc
 
113,800
22,027,128
 
 
 
2,990,146,893
Software - 7.1%
 
 
 
Adobe Inc (c)
 
292,600
102,407,074
Autodesk Inc (c)
 
211,728
62,673,605
Intuit Inc
 
57,000
37,757,940
Microsoft Corp
 
3,058,805
1,479,299,274
Synopsys Inc (c)
 
77,800
36,544,216
 
 
 
1,718,682,109
Technology Hardware, Storage & Peripherals - 2.8%
 
 
 
Apple Inc
 
2,356,614
640,669,082
Seagate Technology Holdings PLC
 
42,800
11,786,692
Western Digital Corp
 
186,300
32,093,901
 
 
 
684,549,675
TOTAL INFORMATION TECHNOLOGY
 
 
5,398,298,137
Materials - 0.7%
 
 
 
Chemicals - 0.5%
 
 
 
Air Products and Chemicals Inc
 
113,300
27,987,366
Dow Inc
 
298,900
6,988,282
LyondellBasell Industries NV Class A1
 
270,700
11,721,310
Mosaic Co/The
 
2,503,400
60,306,906
Sherwin-Williams Co/The
 
13,100
4,244,793
 
 
 
111,248,657
Construction Materials - 0.2%
 
 
 
James Hardie Industries PLC (c)
 
2,513,900
52,163,425
TOTAL MATERIALS
 
 
163,412,082
Real Estate - 0.4%
 
 
 
Industrial REITs - 0.0%
 
 
 
Terreno Realty Corp
 
254,600
14,947,565
Real Estate Management & Development - 0.1%
 
 
 
Compass Inc Class A (c)
 
3,363,831
35,555,694
Residential REITs - 0.1%
 
 
 
Sun Communities Inc
 
159,100
19,714,081
Specialized REITs - 0.2%
 
 
 
American Tower Corp
 
275,781
48,418,870
Equinix Inc
 
4,422
3,387,960
 
 
 
51,806,830
TOTAL REAL ESTATE
 
 
122,024,170
Utilities - 1.0%
 
 
 
Electric Utilities - 0.9%
 
 
 
Duke Energy Corp
 
71,400
8,368,794
Edison International
 
241,300
14,482,826
Entergy Corp
 
221,400
20,464,002
PG&E Corp
 
491,300
7,895,191
Southern Co/The
 
1,812,300
158,032,560
 
 
 
209,243,373
Independent Power and Renewable Electricity Producers - 0.0%
 
 
 
Vistra Corp
 
116,600
18,811,078
Multi-Utilities - 0.1%
 
 
 
Sempra
 
243,100
21,463,299
TOTAL UTILITIES
 
 
249,517,750
TOTAL UNITED STATES
 
 
21,736,752,724
ZAMBIA - 1.3%
 
 
 
Materials - 1.3%
 
 
 
Metals & Mining - 1.3%
 
 
 
First Quantum Minerals Ltd (c)
 
11,605,103
311,149,168
 
TOTAL COMMON STOCKS
 (Cost $11,684,364,667)
 
 
 
23,919,420,997
 
 
 
 
Convertible Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
UNITED STATES - 0.1%
 
 
 
Health Care - 0.1%
 
 
 
Life Sciences Tools & Services - 0.1%
 
 
 
Bruker Corp 6.375% Series A
  (Cost $21,978,529)
 
87,200
31,669,295
 
 
 
 
U.S. Treasury Obligations - 0.2%
 
 
Yield (%) (g)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 2/26/2026 (d)
 (Cost $49,634,165)
 
3.67
49,917,000
49,643,317
 
 
 
 
 
Money Market Funds - 2.8%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (h)
 
3.79
509,569,083
509,670,996
Fidelity Securities Lending Cash Central Fund (h)(i)
 
3.77
170,091,793
170,108,803
 
TOTAL MONEY MARKET FUNDS
 (Cost $679,782,267)
 
 
 
679,779,799
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.3%
 (Cost $12,435,759,628)
 
 
 
24,680,513,408
NET OTHER ASSETS (LIABILITIES) - (1.3)%  
(325,017,383)
NET ASSETS - 100.0%
24,355,496,025
 
 
 Written Options
 
Counterparty
Number
of Contracts
Notional
Amount ($)
Exercise
Price ($)
Expiration
Date
Value ($)
Call Options
 
 
 
 
 
 
Eli Lilly & Co
Chicago Board Options Exchange
195
20,956,260
1,130.00
2/2026
(670,313)
GE Vernova Inc
Chicago Board Options Exchange
729
47,645,253
700.00
2/2026
(1,888,110)
GE Vernova Inc
Chicago Board Options Exchange
730
47,710,610
740.00
2/2026
(1,109,600)
GE Vernova Inc
Chicago Board Options Exchange
730
47,710,610
750.00
2/2026
(974,550)
GE Vernova Inc
Chicago Board Options Exchange
728
47,579,896
850.00
2/2026
(311,220)
 
 
 
 
 
 
 
 
 
 
 
 
 
(4,953,793)
Put Options
 
 
 
 
 
 
GE Vernova Inc
Chicago Board Options Exchange
1,000
65,357,000
480.00
2/2026
(180,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
(180,000)
TOTAL WRITTEN OPTIONS
 
 
 
 
 
(5,133,793)
 
 
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Non-income producing.
 
(d)
Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $216,746,272.
 
(e)
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $29,464,522 or 0.1% of net assets.
 
(f)
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 $29,464,522 or 0.1% of net assets.
 
(g)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
 
(h)
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.
 
(i)
Investment made with cash collateral received from securities on loan.
 
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 ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
529,076,106
1,927,387,600
1,946,813,279
11,408,569
23,037
(2,468)
509,670,996
509,569,083
0.9%
Fidelity Securities Lending Cash Central Fund
126,479,306
761,877,132
718,245,194
460,723
(2,441)
-
170,108,803
170,091,793
0.6%
Total
655,555,412
2,689,264,732
2,665,058,473
11,869,292
20,596
(2,468)
679,779,799
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column 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 income received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of December 31, 2025, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Common Stocks
 
 
 
 
Communication Services
2,586,943,272
2,506,119,060
80,824,212
-
Consumer Discretionary
849,049,922
849,049,922
-
-
Consumer Staples
1,109,711,522
1,109,711,522
-
-
Energy
1,979,111,674
1,979,111,674
-
-
Financials
3,682,643,025
3,673,009,436
9,633,589
-
Health Care
2,523,782,078
2,523,782,078
-
-
Industrials
4,480,252,176
4,300,406,889
179,845,287
-
Information Technology
5,861,824,158
5,852,250,305
9,573,853
-
Materials
474,561,250
474,561,250
-
-
Real Estate
122,024,170
122,024,170
-
-
Utilities
249,517,750
249,517,750
-
-
 Convertible Preferred Stocks
 
 
 
 
Health Care
31,669,295
-
31,669,295
-
 U.S. Treasury Obligations
49,643,317
-
49,643,317
-
 Money Market Funds
679,779,799
679,779,799
-
-
 Total Investments in Securities:
24,680,513,408
24,319,323,855
361,189,553
-
 Derivative Instruments:
 
 
 
 
 Liabilities
 
 
 
 
Written Options
(5,133,793)
(5,133,793)
-
-
  Total Liabilities
(5,133,793)
(5,133,793)
-
-
 Total Derivative Instruments:
(5,133,793)
(5,133,793)
-
-
 
 
 
 
 
 Net Unrealized Appreciation (Depreciation) on Unfunded Commitments
5,024,805
5,024,805
-
-
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of December 31, 2025. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Written Options (a) 
-
(5,133,793)
Total Equity Risk
-
(5,133,793)
Total Value of Derivatives
-
(5,133,793)
 
(a)Gross value is presented in the Statement of Assets and Liabilities in the written options, at value line-item.
Financial Statements (Unaudited)
Statement of Assets and Liabilities
 
As of December 31, 2025 (Unaudited)
Assets
 
 
 
 
Investment in securities, at value (including  securities loaned of $173,212,461) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $11,755,977,361)
$
24,000,733,609
 
 
Fidelity Central Funds (cost $679,782,267)
679,779,799
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $12,435,759,628)
 
 
$
24,680,513,408
Cash
 
 
1,094,293
Foreign currency held at value (cost $4,442)
 
 
4,436
Receivable for investments sold
 
 
31,906,388
Unrealized appreciation on unfunded commitments
 
 
5,024,805
Receivable for fund shares sold
 
 
5,362,926
Dividends receivable
 
 
18,564,886
Distributions receivable from Fidelity Central Funds
 
 
1,760,791
Other receivables
 
 
393,867
  Total assets
 
 
24,744,625,800
Liabilities
 
 
 
 
Payable for investments purchased
$
1,187,732
 
 
Payable for fund shares redeemed
212,289,212
 
 
Written options, at value (premium received $7,987,234)
5,133,793
 
 
Other payables and accrued expenses
424,605
 
 
Collateral on securities loaned
170,094,433
 
 
  Total liabilities
 
 
 
389,129,775
Commitments and contingent liabilities (see Significant Accounting Policies note)
 
 
 
 
Net Assets  
 
 
$
24,355,496,025
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
11,763,852,547
Total accumulated earnings (loss)
 
 
 
12,591,643,478
Net Assets
 
 
$
24,355,496,025
Net Asset Value, offering price and redemption price per share ($24,355,496,025 ÷ 912,115,270 shares)
 
 
$
26.70
Statement of Operations
Six months ended December 31, 2025 (Unaudited)
 
 
Investment Income
 
 
 
 
Dividends
 
 
$
151,976,957
Interest  
 
 
169,779
Income from Fidelity Central Funds (including $460,723 from security lending)
 
 
11,869,292
 Total income
 
 
 
164,016,028
Expenses
 
 
 
 
Custodian fees and expenses
$
89,472
 
 
Independent trustees' fees and expenses
45,997
 
 
 Total expenses before reductions
 
135,469
 
 
 Expense reductions
 
(71,795)
 
 
 Total expenses after reductions
 
 
 
63,674
Net Investment income (loss)
 
 
 
163,952,354
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
1,261,634,027
 
 
   Fidelity Central Funds
 
20,596
 
 
 Foreign currency transactions
 
(113,058)
 
 
 Written options
 
15,522,173
 
 
Total net realized gain (loss)
 
 
 
1,277,063,738
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
1,550,806,665
 
 
   Fidelity Central Funds
 
(2,468)
 
 
 Unfunded commitments
 
5,024,805
 
 
 Assets and liabilities in foreign currencies
 
(8,490)
 
 
 Written options
 
1,310,190
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
1,557,130,702
Net gain (loss)
 
 
 
2,834,194,440
Net increase (decrease) in net assets resulting from operations
 
 
$
2,998,146,794
Statement of Changes in Net Assets
 
 
Six months ended
December 31, 2025
(Unaudited)
 
Year ended
June 30, 2025
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
163,952,354
$
302,918,717
Net realized gain (loss)
 
1,277,063,738
 
1,562,888,094
Change in net unrealized appreciation (depreciation)
 
1,557,130,702
 
2,290,439,332
Net increase (decrease) in net assets resulting from operations
 
2,998,146,794
 
4,156,246,143
Distributions to shareholders
 
(2,245,087,816)
 
(1,506,107,434)
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,579,102,576
 
3,650,707,884
  Reinvestment of distributions
 
2,245,087,816
 
1,506,107,434
Cost of shares redeemed
 
(1,841,642,484)
 
(4,850,928,137)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,982,547,908
 
305,887,181
Total increase (decrease) in net assets
 
2,735,606,886
 
2,956,025,890
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
21,619,889,139
 
18,663,863,249
End of period
$
24,355,496,025
$
21,619,889,139
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
59,666,101
 
157,593,314
  Issued in reinvestment of distributions
 
86,628,827
 
68,243,065
Redeemed
 
(69,161,387)
 
(204,590,685)
Net increase (decrease)
 
77,133,541
 
21,245,694
 
 
 
 
 
Financial Highlights
 
Fidelity® Series Large Cap Stock Fund
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
25.89
$
22.94
$
18.90
$
16.37
$
19.80
$
14.07
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.19
 
.35
 
.35
 
.34
 
.34 C
 
.34
     Net realized and unrealized gain (loss)
 
3.25
 
4.43
 
4.72
 
3.27
 
(2.02)
 
6.27
  Total from investment operations
 
3.44  
 
4.78  
 
5.07  
 
3.61  
 
(1.68)
 
6.61
  Distributions from net investment income
 
(.37)
 
(.36)
 
(.36)
 
(.33)
 
(.47)
 
(.37)
  Distributions from net realized gain
 
(2.25)
 
(1.47)
 
(.68)
 
(.76)
 
(1.28)
 
(.52)
     Total distributions
 
(2.63) D
 
(1.83)
 
(1.03) D
 
(1.08) D
 
(1.75)
 
(.88) D
  Net asset value, end of period
$
26.70
$
25.89
$
22.94
$
18.90
$
16.37
$
19.80
 Total Return E,F
 
13.85
%
 
22.41%
 
28.11%
 
23.03%
 
(9.44)%
 
49.05%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions I
 
-% J
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of fee waivers, if any I
 
-
% J
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions, if any I
 
-% J
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
1.41% J
 
1.52%
 
1.73%
 
1.98%
 
1.84% C
 
2.04%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
24,355,496
$
21,619,889
$
18,663,863
$
15,147,344
$
12,798,487
$
14,792,790
    Portfolio turnover rate K
 
20
% J
 
17%
 
18%
 
12%
 
17%
 
15%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CNet investment income per share reflects one or more large, non-recurring dividend(s) which amounted to $.11 per share. Excluding such non-recurring dividend(s), the ratio of net investment income (loss) to average net assets would have been 1.24%.
DTotal distributions per share do not sum due to rounding.
ETotal returns for periods of less than one year are not annualized.
FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
IAmount represents less than .005%.
JAnnualized.
KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
Notes to Financial Statements
 (Unaudited)
For the period ended December 31, 2025
 
1. Organization.
Fidelity Series Large Cap Stock Fund (the Fund) is a fund of Fidelity Hastings Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments 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 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 service 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.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of December 31, 2025 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to foreign currency transactions, passive foreign investment companies (PFIC), certain corporate actions, and losses deferred due to wash sales and options transactions.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$12,642,072,880
Gross unrealized depreciation
(411,297,230)
Net unrealized appreciation (depreciation)
$12,230,775,650
Tax cost
$12,452,591,199
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
 
Commitments. A commitment is an agreement to acquire an investment at a future date (subject to conditions) in connection with a potential public or non-public offering. Commitments outstanding at period end are presented in the table below. Unrealized appreciation (depreciation) on any commitments outstanding at period end is separately presented in the Statement of Assets and Liabilities as Unrealized appreciation (depreciation) on unfunded commitments, and any change in unrealized appreciation (depreciation) on unfunded commitments during the period is separately presented in the Statement of Operations, as applicable based on contractual conditions of each commitment.
 
 
Investment to be Acquired
Commitment Amount ($)
Unrealized Appreciation (Depreciation)($)
Fidelity Series Large Cap Stock Fund
CompoSecure, Inc. Class A
119,178,073
5,024,805
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including options. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Options. Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date. Exchange-traded and/or OTC options were used to manage exposure to the market.
 
Upon entering into an options contract, a fund will pay or receive a premium. Premiums paid on purchased options are reflected as cost of investments and premiums received on written options are reflected as a liability on the Statement of Assets and Liabilities. Certain options may be purchased or written with premiums to be paid or received on a future date. Options are valued daily and any unrealized appreciation (depreciation) is reflected in total accumulated earnings (loss) in the Statement of Assets and Liabilities. When an option is exercised, the cost or proceeds of the underlying instrument purchased or sold is adjusted by the amount of the premium. When an option is closed, a gain or loss is realized depending on whether the proceeds or amount paid for the closing sale transaction is greater or less than the premium received or paid. When an option expires, gains and losses are realized to the extent of premiums received and paid, respectively. The net realized and unrealized gains (losses) on purchased options are included in the Statement of Operations in net realized gain (loss) and change in net unrealized appreciation (depreciation) on investment securities. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on written options are presented in the Statement of Operations.
 
Any open options at period end are presented in the Schedule of Investments under the captions "Purchased Options," "Purchased Swaptions," "Written Options" and "Written Swaptions," as applicable.
 
Writing puts and buying calls tend to increase exposure to the underlying instrument while buying puts and writing calls tend to decrease exposure to the underlying instrument. For purchased options, risk of loss is limited to the premium paid, and for written options, risk of loss is the change in value in excess of the premium received.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Series Large Cap Stock Fund
2,289,681,121
2,595,847,197
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.
 
Fidelity Series Large Cap Stock Fund
$393,867
 
Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:
 
 
Amount ($)
Fidelity Series Large Cap Stock Fund
 30,936
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.
 
 
Purchases ($)
Sales ($)
Realized Gain (Loss) ($)
Fidelity Series Large Cap Stock Fund
 178,794,591
 118,198,006
 64,669,349
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.
 
Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are borne by the investment adviser.
 
Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR plus a .10% spread adjustment, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.  
 
The line of credit agreement will expire in March 2026 unless extended or renewed.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received, or for non-cash collateral, fees received from borrowers as compensation for the securities loaned. Securities lending income is reduced by any lending agent fees associated with the loan. Any security lending income earned on investing cash collateral is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Any security lending income earned on non-cash collateral is presented in the Statement of Operations as a component of dividends. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Series Large Cap Stock Fund
49,776
 2,151
-
 
At period end, the value of any non-cash collateral is presented below. Non-cash collateral is held by a third-party bank for the benefit of a fund and the borrower. A fund is not permitted to sell or re-pledge non-cash collateral except in the event of borrower default, and therefore it is not included in the Schedule of Investments or Statement of Assets and Liabilities.
 
 
Amount ($)
Fidelity Series Large Cap Stock Fund
10,736,299
9. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $71,795.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, mutual funds and accounts managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
 
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 9: Proxy Disclosures for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies
(Unaudited)
Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract
(Unaudited)
Note: This is not applicable for any fund included in this document.
 
1.951032.113
MHT-SANN-0226
Fidelity® Mega Cap Stock Fund
 
 
 
Semi-Annual Report
December 31, 2025
Includes Fidelity and Fidelity Advisor share classes

Contents

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)

Fidelity® Mega Cap Stock Fund

Notes to Financial Statements

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2026 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)
Fidelity® Mega Cap Stock Fund
Schedule of Investments December 31, 2025 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 93.2%
 
 
Shares
Value ($)
 
AUSTRALIA - 0.0%
 
 
 
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
Santos Ltd
 
1,760,455
7,248,760
BELGIUM - 0.7%
 
 
 
Health Care - 0.7%
 
 
 
Pharmaceuticals - 0.7%
 
 
 
UCB SA
 
139,500
39,116,180
CANADA - 1.4%
 
 
 
Energy - 1.4%
 
 
 
Oil, Gas & Consumable Fuels - 1.4%
 
 
 
Imperial Oil Ltd (b)
 
924,805
79,897,546
DENMARK - 0.4%
 
 
 
Health Care - 0.4%
 
 
 
Pharmaceuticals - 0.4%
 
 
 
Novo Nordisk A/S Class B ADR
 
424,110
21,578,717
FRANCE - 0.4%
 
 
 
Industrials - 0.4%
 
 
 
Aerospace & Defense - 0.4%
 
 
 
Airbus SE
 
111,400
25,869,752
GERMANY - 0.6%
 
 
 
Information Technology - 0.6%
 
 
 
Software - 0.6%
 
 
 
SAP SE ADR
 
134,500
32,671,395
NETHERLANDS - 0.5%
 
 
 
Communication Services - 0.2%
 
 
 
Entertainment - 0.2%
 
 
 
Universal Music Group NV
 
398,599
10,391,411
Information Technology - 0.3%
 
 
 
Semiconductors & Semiconductor Equipment - 0.3%
 
 
 
ASML Holding NV depository receipt
 
17,436
18,654,079
TOTAL NETHERLANDS
 
 
29,045,490
SWEDEN - 0.3%
 
 
 
Industrials - 0.3%
 
 
 
Machinery - 0.3%
 
 
 
Atlas Copco AB A Shares
 
889,300
15,831,833
TAIWAN - 1.1%
 
 
 
Information Technology - 1.1%
 
 
 
Semiconductors & Semiconductor Equipment - 1.1%
 
 
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
 
208,500
63,361,065
UNITED KINGDOM - 1.2%
 
 
 
Consumer Staples - 1.2%
 
 
 
Beverages - 0.3%
 
 
 
Diageo PLC
 
929,662
20,032,277
Tobacco - 0.9%
 
 
 
British American Tobacco PLC ADR
 
851,500
48,211,930
TOTAL UNITED KINGDOM
 
 
68,244,207
UNITED STATES - 85.8%
 
 
 
Communication Services - 10.9%
 
 
 
Entertainment - 0.3%
 
 
 
Walt Disney Co/The
 
174,899
19,898,259
Interactive Media & Services - 10.0%
 
 
 
Alphabet Inc Class A
 
688,000
215,344,001
Alphabet Inc Class C
 
595,310
186,808,278
Meta Platforms Inc Class A
 
261,400
172,547,526
 
 
 
574,699,805
Media - 0.6%
 
 
 
Comcast Corp Class A
 
1,231,797
36,818,412
TOTAL COMMUNICATION SERVICES
 
 
631,416,476
Consumer Discretionary - 4.1%
 
 
 
Broadline Retail - 2.1%
 
 
 
Amazon.com Inc (c)
 
525,900
121,388,238
Hotels, Restaurants & Leisure - 0.7%
 
 
 
Booking Holdings Inc
 
2,038
10,914,163
Chipotle Mexican Grill Inc (c)
 
257,200
9,516,400
Marriott International Inc/MD Class A1
 
19,000
5,894,560
Starbucks Corp
 
166,700
14,037,807
 
 
 
40,362,930
Specialty Retail - 1.1%
 
 
 
Home Depot Inc/The
 
75,900
26,117,190
Lowe's Cos Inc
 
145,311
35,043,201
 
 
 
61,160,391
Textiles, Apparel & Luxury Goods - 0.2%
 
 
 
Lululemon Athletica Inc (c)
 
7,200
1,496,231
NIKE Inc Class B
 
204,500
13,028,695
 
 
 
14,524,926
TOTAL CONSUMER DISCRETIONARY
 
 
237,436,485
Consumer Staples - 3.8%
 
 
 
Beverages - 1.5%
 
 
 
Coca-Cola Co/The
 
501,000
35,024,910
Keurig Dr Pepper Inc
 
1,473,700
41,278,337
Monster Beverage Corp (c)
 
32,100
2,461,107
PepsiCo Inc
 
19,100
2,741,232
 
 
 
81,505,586
Consumer Staples Distribution & Retail - 0.4%
 
 
 
Target Corp
 
224,610
21,955,628
Food Products - 0.1%
 
 
 
Mondelez International Inc
 
157,800
8,494,374
Household Products - 0.2%
 
 
 
Procter & Gamble Co/The
 
97,120
13,918,267
Personal Care Products - 1.0%
 
 
 
Estee Lauder Cos Inc/The Class A
 
162,900
17,058,888
Kenvue Inc
 
2,123,457
36,629,633
 
 
 
53,688,521
Tobacco - 0.6%
 
 
 
Philip Morris International Inc
 
233,000
37,373,200
TOTAL CONSUMER STAPLES
 
 
216,935,576
Energy - 6.7%
 
 
 
Oil, Gas & Consumable Fuels - 6.7%
 
 
 
Chevron Corp
 
154,800
23,593,068
ConocoPhillips
 
387,905
36,311,787
Exxon Mobil Corp
 
1,688,109
203,147,037
Shell PLC
 
6,968
256,786
Shell PLC ADR
 
1,658,313
121,852,840
TOTAL ENERGY
 
 
385,161,518
Financials - 13.2%
 
 
 
Banks - 9.6%
 
 
 
Bank of America Corp
 
2,931,674
161,242,070
JPMorgan Chase & Co
 
151,330
48,761,553
PNC Financial Services Group Inc/The
 
182,131
38,016,204
Truist Financial Corp
 
456,500
22,464,365
US Bancorp
 
158,112
8,436,856
Wells Fargo & Co
 
2,970,676
276,867,003
 
 
 
555,788,051
Capital Markets - 0.6%
 
 
 
Charles Schwab Corp/The
 
165,200
16,505,132
CME Group Inc Class A
 
9,200
2,512,336
KKR & Co Inc Class A
 
141,214
18,001,961
 
 
 
37,019,429
Consumer Finance - 0.1%
 
 
 
American Express Co
 
13,500
4,994,325
Financial Services - 2.2%
 
 
 
Apollo Global Management Inc
 
219,200
31,731,392
Fiserv Inc (c)
 
26,600
1,786,722
Mastercard Inc Class A
 
38,052
21,723,126
PayPal Holdings Inc
 
60,000
3,502,800
Visa Inc Class A
 
193,788
67,963,389
 
 
 
126,707,429
Insurance - 0.7%
 
 
 
Arthur J Gallagher & Co
 
102,900
26,629,491
Marsh & McLennan Cos Inc
 
65,100
12,077,352
 
 
 
38,706,843
TOTAL FINANCIALS
 
 
763,216,077
Health Care - 7.0%
 
 
 
Biotechnology - 0.0%
 
 
 
Gilead Sciences Inc
 
19,700
2,417,977
Health Care Equipment & Supplies - 1.2%
 
 
 
Abbott Laboratories
 
119,400
14,959,626
Alcon AG (United States) (b)
 
216,000
17,022,960
Boston Scientific Corp (c)
 
404,517
38,570,696
 
 
 
70,553,282
Health Care Providers & Services - 2.1%
 
 
 
Cigna Group/The
 
79,362
21,842,803
Humana Inc
 
54,700
14,010,311
UnitedHealth Group Inc
 
246,203
81,274,073
 
 
 
117,127,187
Life Sciences Tools & Services - 1.0%
 
 
 
Danaher Corp
 
148,210
33,928,233
Thermo Fisher Scientific Inc
 
44,400
25,727,580
 
 
 
59,655,813
Pharmaceuticals - 2.7%
 
 
 
Eli Lilly & Co (d)
 
28,300
30,413,444
GSK PLC ADR
 
1,048,266
51,406,965
Haleon PLC ADR
 
2,822,833
28,538,842
Johnson & Johnson
 
101,314
20,966,932
Merck & Co Inc
 
196,500
20,683,590
 
 
 
152,009,773
TOTAL HEALTH CARE
 
 
401,764,032
Industrials - 14.9%
 
 
 
Aerospace & Defense - 9.4%
 
 
 
Boeing Co (c)
 
1,319,570
286,505,038
GE Aerospace
 
771,384
237,609,414
General Dynamics Corp
 
17,300
5,824,218
RTX Corp
 
33,500
6,143,900
 
 
 
536,082,570
Air Freight & Logistics - 1.1%
 
 
 
United Parcel Service Inc Class B
 
651,979
64,669,797
Electrical Equipment - 3.9%
 
 
 
Emerson Electric Co
 
55,000
7,299,600
GE Vernova Inc (d)
 
334,918
218,892,357
 
 
 
226,191,957
Industrial Conglomerates - 0.0%
 
 
 
Honeywell International Inc
 
8,600
1,677,774
Machinery - 0.5%
 
 
 
Caterpillar Inc
 
40,200
23,029,374
Deere & Co
 
17,080
7,951,936
 
 
 
30,981,310
TOTAL INDUSTRIALS
 
 
859,603,408
Information Technology - 24.1%
 
 
 
IT Services - 0.1%
 
 
 
Accenture PLC Class A
 
11,900
3,192,770
Kyndryl Holdings Inc (c)
 
220
5,843
 
 
 
3,198,613
Semiconductors & Semiconductor Equipment - 13.1%
 
 
 
Applied Materials Inc
 
78,674
20,218,431
Broadcom Inc
 
396,605
137,264,991
Lam Research Corp
 
189,200
32,387,256
Marvell Technology Inc
 
230,465
19,584,916
Micron Technology Inc
 
237,700
67,841,957
NVIDIA Corp
 
2,551,750
475,901,375
 
 
 
753,198,926
Software - 7.5%
 
 
 
Adobe Inc (c)
 
63,700
22,294,363
Autodesk Inc (c)
 
29,100
8,613,891
Intuit Inc
 
8,200
5,431,844
Microsoft Corp
 
780,376
377,405,441
Oracle Corp
 
36,000
7,016,760
Salesforce Inc
 
17,300
4,582,943
Synopsys Inc (c)
 
18,500
8,689,820
 
 
 
434,035,062
Technology Hardware, Storage & Peripherals - 3.4%
 
 
 
Apple Inc
 
731,422
198,844,385
TOTAL INFORMATION TECHNOLOGY
 
 
1,389,276,986
Materials - 0.1%
 
 
 
Chemicals - 0.1%
 
 
 
Air Products and Chemicals Inc
 
14,600
3,606,492
Linde PLC
 
6,700
2,856,813
Solstice Advanced Materials Inc
 
2,150
104,446
TOTAL MATERIALS
 
 
6,567,751
Real Estate - 0.3%
 
 
 
Industrial REITs - 0.1%
 
 
 
Prologis Inc
 
22,800
2,910,648
Specialized REITs - 0.2%
 
 
 
American Tower Corp
 
75,510
13,257,291
TOTAL REAL ESTATE
 
 
16,167,939
Utilities - 0.7%
 
 
 
Electric Utilities - 0.6%
 
 
 
Duke Energy Corp
 
15,200
1,781,592
NextEra Energy Inc
 
37,900
3,042,612
Southern Co/The
 
304,000
26,508,800
 
 
 
31,333,004
Multi-Utilities - 0.1%
 
 
 
Sempra
 
81,400
7,186,806
TOTAL UTILITIES
 
 
38,519,810
TOTAL UNITED STATES
 
 
4,946,066,058
ZAMBIA - 0.8%
 
 
 
Materials - 0.8%
 
 
 
Metals & Mining - 0.8%
 
 
 
First Quantum Minerals Ltd (c)
 
1,769,515
47,443,191
 
TOTAL COMMON STOCKS
 (Cost $3,210,408,203)
 
 
 
5,376,374,194
 
 
 
 
U.S. Treasury Obligations - 0.2%
 
 
Yield (%) (e)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 2/26/2026 (d)
 (Cost $11,168,358)
 
3.67
11,232,000
11,170,417
 
 
 
 
 
Money Market Funds - 8.0%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (f)
 
3.79
376,617,482
376,692,806
Fidelity Securities Lending Cash Central Fund (f)(g)
 
3.77
82,711,902
82,720,173
 
TOTAL MONEY MARKET FUNDS
 (Cost $459,415,259)
 
 
 
459,412,979
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.4%
 (Cost $3,680,991,820)
 
 
 
5,846,957,590
NET OTHER ASSETS (LIABILITIES) - (1.4)%  
(80,181,617)
NET ASSETS - 100.0%
5,766,775,973
 
 
 Written Options
 
Counterparty
Number
of Contracts
Notional
Amount ($)
Exercise
Price ($)
Expiration
Date
Value ($)
Call Options
 
 
 
 
 
 
Eli Lilly & Co
Chicago Board Options Exchange
56
6,018,208
1,130.00
2/2026
(192,500)
GE Vernova Inc
Chicago Board Options Exchange
100
6,535,700
740.00
2/2026
(152,000)
GE Vernova Inc
Chicago Board Options Exchange
100
6,535,700
700.00
2/2026
(259,000)
GE Vernova Inc
Chicago Board Options Exchange
100
6,535,700
750.00
2/2026
(133,500)
 
 
 
 
 
 
 
 
 
 
 
 
 
(737,000)
Put Options
 
 
 
 
 
 
GE Vernova Inc
Chicago Board Options Exchange
225
14,705,325
480.00
2/2026
(40,500)
 
 
 
 
 
 
 
 
 
 
 
 
 
(40,500)
TOTAL WRITTEN OPTIONS
 
 
 
 
 
(777,500)
 
 
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Non-income producing.
 
(d)
Security or a portion of the security is pledged as collateral for options written. At period end, the value of securities pledged amounted to $26,865,471.
 
(e)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
 
(f)
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.
 
(g)
Investment made with cash collateral received from securities on loan.
 
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 ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
281,679,974
502,486,550
407,472,305
7,084,409
867
(2,280)
376,692,806
376,617,482
0.7%
Fidelity Securities Lending Cash Central Fund
48,867,560
153,410,311
119,558,421
101,305
723
-
82,720,173
82,711,902
0.3%
Total
330,547,534
655,896,861
527,030,726
7,185,714
1,590
(2,280)
459,412,979
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column 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 income received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of December 31, 2025, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Common Stocks
 
 
 
 
Communication Services
641,807,887
631,416,476
10,391,411
-
Consumer Discretionary
237,436,485
237,436,485
-
-
Consumer Staples
285,179,783
265,147,506
20,032,277
-
Energy
472,307,824
472,051,038
256,786
-
Financials
763,216,077
763,216,077
-
-
Health Care
462,458,929
462,458,929
-
-
Industrials
901,304,993
859,603,408
41,701,585
-
Information Technology
1,503,963,525
1,503,963,525
-
-
Materials
54,010,942
54,010,942
-
-
Real Estate
16,167,939
16,167,939
-
-
Utilities
38,519,810
38,519,810
-
-
 U.S. Treasury Obligations
11,170,417
-
11,170,417
-
 Money Market Funds
459,412,979
459,412,979
-
-
 Total Investments in Securities:
5,846,957,590
5,763,405,114
83,552,476
-
 Derivative Instruments:
 
 
 
 
 Liabilities
 
 
 
 
Written Options
(777,500)
(777,500)
-
-
  Total Liabilities
(777,500)
(777,500)
-
-
 Total Derivative Instruments:
(777,500)
(777,500)
-
-
 
 
 
 
 
 Net Unrealized Appreciation (Depreciation) on Unfunded Commitments
536,223
536,223
-
-
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of December 31, 2025. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Written Options (a) 
-
(777,500)
Total Equity Risk
-
(777,500)
Total Value of Derivatives
-
(777,500)
 
(a)Gross value is presented in the Statement of Assets and Liabilities in the written options, at value line-item.
Financial Statements (Unaudited)
Statement of Assets and Liabilities
 
As of December 31, 2025 (Unaudited)
Assets
 
 
 
 
Investment in securities, at value (including  securities loaned of $78,339,275) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $3,221,576,561)
$
5,387,544,611
 
 
Fidelity Central Funds (cost $459,415,259)
459,412,979
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $3,680,991,820)
 
 
$
5,846,957,590
Cash
 
 
1
Foreign currency held at value (cost $6,335)
 
 
6,326
Receivable for investments sold
 
 
581,636
Unrealized appreciation on unfunded commitments
 
 
536,223
Receivable for fund shares sold
 
 
16,786,571
Dividends receivable
 
 
3,825,229
Interest receivable
 
 
107
Distributions receivable from Fidelity Central Funds
 
 
1,227,087
Prepaid expenses
 
 
3,537
Other receivables
 
 
4,304
  Total assets
 
 
5,869,928,611
Liabilities
 
 
 
 
Payable for investments purchased
$
10,363,447
 
 
Payable for fund shares redeemed
6,490,364
 
 
Accrued management fee
2,586,233
 
 
Distribution and service plan fees payable
137,075
 
 
Written options, at value (premium received $1,171,439)
777,500
 
 
Other payables and accrued expenses
78,569
 
 
Collateral on securities loaned
82,719,450
 
 
  Total liabilities
 
 
 
103,152,638
Commitments and contingent liabilities (see Significant Accounting Policies note)
 
 
 
 
Net Assets  
 
 
$
5,766,775,973
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
3,590,671,386
Total accumulated earnings (loss)
 
 
 
2,176,104,587
Net Assets
 
 
$
5,766,775,973
 
 
 
 
 
Net Asset Value and Maximum Offering Price
 
 
 
 
Class A :
 
 
 
 
Net Asset Value and redemption price per share ($338,349,243 ÷ 11,036,418 shares)(a)
 
 
$
30.66
Maximum offering price per share (100/94.25 of $30.66)
 
 
$
32.53
Class M :
 
 
 
 
Net Asset Value and redemption price per share ($46,951,299 ÷ 1,529,211 shares)(a)
 
 
$
30.70
Maximum offering price per share (100/96.50 of $30.70)
 
 
$
31.81
Class C :
 
 
 
 
Net Asset Value and offering price per share ($59,626,497 ÷ 1,998,216 shares)(a)
 
 
$
29.84
Mega Cap Stock :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($3,374,252,018 ÷ 107,975,409 shares)
 
 
$
31.25
Class I :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($819,189,611 ÷ 26,191,023 shares)
 
 
$
31.28
Class Z :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($1,128,407,305 ÷ 36,378,550 shares)
 
 
$
31.02
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge.
Statement of Operations
Six months ended December 31, 2025 (Unaudited)
 
 
Investment Income
 
 
 
 
Dividends
 
 
$
31,733,105
Interest  
 
 
33,326
Income from Fidelity Central Funds (including $101,305 from security lending)
 
 
7,185,714
 Total income
 
 
 
38,952,145
Expenses
 
 
 
 
Management fee
$
13,764,096
 
 
Distribution and service plan fees
763,262
 
 
Custodian fees and expenses
32,534
 
 
Independent trustees' fees and expenses
9,323
 
 
Registration fees
211,042
 
 
Audit fees
31,557
 
 
Legal
5,168
 
 
Miscellaneous
5,939
 
 
 Total expenses before reductions
 
14,822,921
 
 
 Expense reductions
 
(1,508)
 
 
 Total expenses after reductions
 
 
 
14,821,413
Net Investment income (loss)
 
 
 
24,130,732
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
71,778,547
 
 
   Fidelity Central Funds
 
1,590
 
 
 Foreign currency transactions
 
(54,369)
 
 
 Written options
 
1,028,305
 
 
Total net realized gain (loss)
 
 
 
72,754,073
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
511,735,929
 
 
   Fidelity Central Funds
 
(2,280)
 
 
 Unfunded commitments
 
536,223
 
 
 Assets and liabilities in foreign currencies
 
3,616
 
 
 Written options
 
257,730
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
512,531,218
Net gain (loss)
 
 
 
585,285,291
Net increase (decrease) in net assets resulting from operations
 
 
$
609,416,023
Statement of Changes in Net Assets
 
 
Six months ended
December 31, 2025
(Unaudited)
 
Year ended
June 30, 2025
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
24,130,732
$
38,000,257
Net realized gain (loss)
 
72,754,073
 
135,946,700
Change in net unrealized appreciation (depreciation)
 
512,531,218
 
498,496,616
Net increase (decrease) in net assets resulting from operations
 
609,416,023
 
672,443,573
Distributions to shareholders
 
(199,362,877)
 
(89,177,833)
 
 
 
 
 
Share transactions - net increase (decrease)
 
1,110,275,461
 
604,795,252
Total increase (decrease) in net assets
 
1,520,328,606
 
1,188,060,992
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
4,246,447,367
 
3,058,386,375
End of period
$
5,766,775,973
$
4,246,447,367
 
 
 
 
 
 
 
 
 
 
Financial Highlights
 
Fidelity Advisor® Mega Cap Stock Fund Class A
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
28.19
$
24.18
$
19.23
$
16.14
$
19.05
$
13.83
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.10
 
.21
 
.21
 
.17
 
.14
 
.15
     Net realized and unrealized gain (loss)
 
3.51
 
4.42
 
5.12
 
3.61
 
(2.17)
 
6.31
  Total from investment operations
 
3.61  
 
4.63  
 
5.33  
 
3.78  
 
(2.03)
 
6.46
  Distributions from net investment income
 
(.19)
 
(.20)
 
(.17)
 
(.18)
 
(.29)
 
(.24)
  Distributions from net realized gain
 
(.95)
 
(.42)
 
(.21)
 
(.51)
 
(.59)
 
(1.00)
     Total distributions
 
(1.14)
 
(.62)
 
(.38)
 
(.69)
 
(.88)
 
(1.24)
  Net asset value, end of period
$
30.66
$
28.19
$
24.18
$
19.23
$
16.14
$
19.05
 Total Return C,D,E
 
13.06
%
 
19.63%
 
28.13%
 
24.10%
 
(11.25)% F
 
49.60%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.86% I
 
.86%
 
.88%
 
.90%
 
.90%
 
.91%
    Expenses net of fee waivers, if any
 
.86
% I
 
.86%
 
.88%
 
.90%
 
.89%
 
.91%
    Expenses net of all reductions, if any
 
.86% I
 
.86%
 
.88%
 
.90%
 
.89%
 
.91%
    Net investment income (loss)
 
.70% I
 
.83%
 
1.01%
 
.99%
 
.78%
 
.95%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
338,349
$
271,642
$
208,007
$
133,252
$
88,064
$
87,302
    Portfolio turnover rate J
 
10
% I
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal returns for periods of less than one year are not annualized.
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
ETotal returns do not include the effect of the sales charges.
FAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (11.29)%.
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
IAnnualized.
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
 
Fidelity Advisor® Mega Cap Stock Fund Class M
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
28.19
$
24.17
$
19.22
$
16.13
$
19.03
$
13.82
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.07
 
.15
 
.16
 
.13
 
.10
 
.11
     Net realized and unrealized gain (loss)
 
3.50
 
4.43
 
5.12
 
3.61
 
(2.17)
 
6.31
  Total from investment operations
 
3.57  
 
4.58  
 
5.28  
 
3.74  
 
(2.07)
 
6.42
  Distributions from net investment income
 
(.10)
 
(.14)
 
(.12)
 
(.13)
 
(.24)
 
(.20)
  Distributions from net realized gain
 
(.95)
 
(.42)
 
(.21)
 
(.51)
 
(.59)
 
(1.00)
     Total distributions
 
(1.06) C
 
(.56)
 
(.33)
 
(.65) C
 
(.83)
 
(1.21) C
  Net asset value, end of period
$
30.70
$
28.19
$
24.17
$
19.22
$
16.13
$
19.03
 Total Return D,E,F
 
12.88
%
 
19.34%
 
27.81%
 
23.76%
 
(11.45)% G
 
49.19%
 Ratios to Average Net Assets B,H,I
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
1.11% J
 
1.11%
 
1.12%
 
1.16%
 
1.15%
 
1.17%
    Expenses net of fee waivers, if any
 
1.11
% J
 
1.11%
 
1.11%
 
1.16%
 
1.15%
 
1.17%
    Expenses net of all reductions, if any
 
1.11% J
 
1.11%
 
1.11%
 
1.16%
 
1.15%
 
1.16%
    Net investment income (loss)
 
.45% J
 
.58%
 
.78%
 
.73%
 
.52%
 
.69%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
46,951
$
41,900
$
36,231
$
30,973
$
25,617
$
28,266
    Portfolio turnover rate K
 
10
% J
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FTotal returns do not include the effect of the sales charges.
GAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (11.49)%.
HFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
IExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
JAnnualized.
KAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
 
Fidelity Advisor® Mega Cap Stock Fund Class C
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
27.40
$
23.53
$
18.74
$
15.74
$
18.58
$
13.53
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
(.01)
 
.01
 
.05
 
.03
 
- C
 
.03 C
     Net realized and unrealized gain (loss)
 
3.40
 
4.32
 
4.99
 
3.53
 
(2.12)
 
6.15
  Total from investment operations
 
3.39  
 
4.33  
 
5.04  
 
3.56  
 
(2.12)
 
6.18
  Distributions from net investment income
 
(.01)
 
(.04)
 
(.04)
 
(.04)
 
(.15)
 
(.13)
  Distributions from net realized gain
 
(.94)
 
(.42)
 
(.21)
 
(.51)
 
(.58)
 
(1.00)
     Total distributions
 
(.95)
 
(.46)
 
(.25)
 
(.56) D
 
(.72) D
 
(1.13)
  Net asset value, end of period
$
29.84
$
27.40
$
23.53
$
18.74
$
15.74
$
18.58
 Total Return E,F,G
 
12.60
%
 
18.75%
 
27.12%
 
23.12%
 
(11.90)% H
 
48.31%
 Ratios to Average Net Assets B,I,J
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
1.63% K
 
1.64%
 
1.66%
 
1.69%
 
1.67%
 
1.69%
    Expenses net of fee waivers, if any
 
1.63
% K
 
1.64%
 
1.65%
 
1.68%
 
1.67%
 
1.69%
    Expenses net of all reductions, if any
 
1.63% K
 
1.63%
 
1.65%
 
1.68%
 
1.67%
 
1.69%
    Net investment income (loss)
 
(.07)% K
 
.06%
 
.24%
 
.21%
 
-% L
 
.17%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
59,626
$
47,843
$
34,772
$
23,061
$
20,255
$
27,727
    Portfolio turnover rate M
 
10
% K
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CAmount represents less than $.005 per share.
DTotal distributions per share do not sum due to rounding.
ETotal returns for periods of less than one year are not annualized.
FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
GTotal returns do not include the effect of the contingent deferred sales charge.
HAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (11.94)%.
IFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
JExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
KAnnualized.
LAmount represents less than .005%.
MAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
 
Fidelity® Mega Cap Stock Fund
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
28.75
$
24.63
$
19.58
$
16.42
$
19.36
$
14.04
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.15
 
.29
 
.28
 
.22
 
.20
 
.20
     Net realized and unrealized gain (loss)
 
3.57
 
4.52
 
5.20
 
3.68
 
(2.21)
 
6.40
  Total from investment operations
 
3.72  
 
4.81  
 
5.48  
 
3.90  
 
(2.01)
 
6.60
  Distributions from net investment income
 
(.26)
 
(.27)
 
(.22)
 
(.23)
 
(.34)
 
(.28)
  Distributions from net realized gain
 
(.95)
 
(.42)
 
(.21)
 
(.51)
 
(.59)
 
(1.00)
     Total distributions
 
(1.22) C
 
(.69)
 
(.43)
 
(.74)
 
(.93)
 
(1.28)
  Net asset value, end of period
$
31.25
$
28.75
$
24.63
$
19.58
$
16.42
$
19.36
 Total Return D,E
 
13.19
%
 
20.02%
 
28.44%
 
24.46%
 
(10.99)% F
 
49.96%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.58% I
 
.58%
 
.61%
 
.63%
 
.61%
 
.63%
    Expenses net of fee waivers, if any
 
.58
% I
 
.58%
 
.60%
 
.62%
 
.61%
 
.63%
    Expenses net of all reductions, if any
 
.58% I
 
.58%
 
.60%
 
.62%
 
.61%
 
.63%
    Net investment income (loss)
 
.98% I
 
1.11%
 
1.29%
 
1.27%
 
1.06%
 
1.23%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
3,374,252
$
2,534,999
$
1,973,946
$
1,203,802
$
927,217
$
1,166,988
    Portfolio turnover rate J
 
10
% I
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (11.03)%.
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
IAnnualized.
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
 
Fidelity Advisor® Mega Cap Stock Fund Class I
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
28.78
$
24.66
$
19.61
$
16.45
$
19.39
$
14.07
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.15
 
.28
 
.27
 
.22
 
.19
 
.20
     Net realized and unrealized gain (loss)
 
3.57
 
4.53
 
5.22
 
3.68
 
(2.21)
 
6.42
  Total from investment operations
 
3.72  
 
4.81  
 
5.49  
 
3.90  
 
(2.02)
 
6.62
  Distributions from net investment income
 
(.27)
 
(.27)
 
(.23)
 
(.23)
 
(.34)
 
(.29)
  Distributions from net realized gain
 
(.95)
 
(.42)
 
(.21)
 
(.51)
 
(.59)
 
(1.00)
     Total distributions
 
(1.22)
 
(.69)
 
(.44)
 
(.74)
 
(.92) C
 
(1.30) C
  Net asset value, end of period
$
31.28
$
28.78
$
24.66
$
19.61
$
16.45
$
19.39
 Total Return D,E
 
13.20
%
 
20.00%
 
28.45%
 
24.43%
 
(11.00)% F
 
49.97%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.59% I
 
.59%
 
.63%
 
.63%
 
.65%
 
.65%
    Expenses net of fee waivers, if any
 
.59
% I
 
.59%
 
.62%
 
.62%
 
.64%
 
.65%
    Expenses net of all reductions, if any
 
.59% I
 
.59%
 
.62%
 
.62%
 
.64%
 
.64%
    Net investment income (loss)
 
.97% I
 
1.10%
 
1.27%
 
1.26%
 
1.03%
 
1.21%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
819,190
$
531,235
$
382,995
$
132,416
$
52,884
$
39,876
    Portfolio turnover rate J
 
10
% I
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (11.04)%.
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
IAnnualized.
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
 
Fidelity Advisor® Mega Cap Stock Fund Class Z
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
28.56
$
24.48
$
19.46
$
16.32
$
19.25
$
13.97
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.16
 
.31
 
.30
 
.24
 
.22
 
.22
     Net realized and unrealized gain (loss)
 
3.55
 
4.49
 
5.17
 
3.66
 
(2.20)
 
6.36
  Total from investment operations
 
3.71  
 
4.80  
 
5.47  
 
3.90  
 
(1.98)
 
6.58
  Distributions from net investment income
 
(.30)
 
(.30)
 
(.24)
 
(.25)
 
(.36)
 
(.30)
  Distributions from net realized gain
 
(.95)
 
(.42)
 
(.21)
 
(.51)
 
(.59)
 
(1.00)
     Total distributions
 
(1.25)
 
(.72)
 
(.45)
 
(.76)
 
(.95)
 
(1.30)
  Net asset value, end of period
$
31.02
$
28.56
$
24.48
$
19.46
$
16.32
$
19.25
 Total Return C,D
 
13.27
%
 
20.14%
 
28.59%
 
24.62%
 
(10.92)% E
 
50.14%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.47% H
 
.47%
 
.52%
 
.52%
 
.51%
 
.52%
    Expenses net of fee waivers, if any
 
.47
% H
 
.47%
 
.51%
 
.52%
 
.51%
 
.52%
    Expenses net of all reductions, if any
 
.47% H
 
.47%
 
.51%
 
.52%
 
.51%
 
.52%
    Net investment income (loss)
 
1.09% H
 
1.22%
 
1.38%
 
1.37%
 
1.16%
 
1.34%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
1,128,407
$
818,829
$
422,435
$
192,632
$
222,146
$
313,854
    Portfolio turnover rate I
 
10
% H
 
15%
 
9%
 
18%
 
13%
 
43%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal returns for periods of less than one year are not annualized.
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
EAmount includes a reimbursement from the investment adviser for an operational error which amounted to less than $.01 per share. Excluding this reimbursement, the total return would have been (10.96)%.
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
HAnnualized.
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
Notes to Financial Statements
 (Unaudited)
For the period ended December 31, 2025
 
1. Organization.
Fidelity Mega Cap Stock Fund (the Fund) is a fund of Fidelity Hastings Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Class A, Class M, Class C, Mega Cap Stock, Class I and Class Z shares, each of which has equal rights as to assets and voting privileges. Class A, Class M, Class C, Class I and Class Z are Fidelity Advisor classes. Each class has exclusive voting rights with respect to matters that affect that class. Class C shares will automatically convert to Class A shares after a holding period of eight years from the initial date of purchase, with certain exceptions.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments 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 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 service 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.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Exchange-traded options are valued using the last sale price or, in the absence of a sale, the last offering price and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of December 31, 2025 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to foreign currency transactions, certain corporate actions, losses deferred due to wash sales and options transactions.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$2,258,965,260
Gross unrealized depreciation
(97,546,585)
Net unrealized appreciation (depreciation)
$2,161,418,675
Tax cost
$3,685,932,854
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
 
Commitments. A commitment is an agreement to acquire an investment at a future date (subject to conditions) in connection with a potential public or non-public offering. Commitments outstanding at period end are presented in the table below. Unrealized appreciation (depreciation) on any commitments outstanding at period end is separately presented in the Statement of Assets and Liabilities as Unrealized appreciation (depreciation) on unfunded commitments, and any change in unrealized appreciation (depreciation) on unfunded commitments during the period is separately presented in the Statement of Operations, as applicable based on contractual conditions of each commitment.
 
 
Investment to be Acquired
Commitment Amount ($)
Unrealized Appreciation (Depreciation)($)
Fidelity Mega Cap Stock Fund
CompoSecure, Inc. Class A
12,718,103
536,223
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including options. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Options. Options give the purchaser the right, but not the obligation, to buy (call) or sell (put) an underlying security or financial instrument at an agreed exercise or strike price between or on certain dates. Options obligate the seller (writer) to buy (put) or sell (call) an underlying instrument at the exercise or strike price or cash settle an underlying derivative instrument if the holder exercises the option on or before the expiration date. Exchange-traded and/or OTC options were used to manage exposure to the market.
 
Upon entering into an options contract, a fund will pay or receive a premium. Premiums paid on purchased options are reflected as cost of investments and premiums received on written options are reflected as a liability on the Statement of Assets and Liabilities. Certain options may be purchased or written with premiums to be paid or received on a future date. Options are valued daily and any unrealized appreciation (depreciation) is reflected in total accumulated earnings (loss) in the Statement of Assets and Liabilities. When an option is exercised, the cost or proceeds of the underlying instrument purchased or sold is adjusted by the amount of the premium. When an option is closed, a gain or loss is realized depending on whether the proceeds or amount paid for the closing sale transaction is greater or less than the premium received or paid. When an option expires, gains and losses are realized to the extent of premiums received and paid, respectively. The net realized and unrealized gains (losses) on purchased options are included in the Statement of Operations in net realized gain (loss) and change in net unrealized appreciation (depreciation) on investment securities. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on written options are presented in the Statement of Operations.
 
Any open options at period end are presented in the Schedule of Investments under the captions "Purchased Options," "Purchased Swaptions," "Written Options" and "Written Swaptions," as applicable.
 
Writing puts and buying calls tend to increase exposure to the underlying instrument while buying puts and writing calls tend to decrease exposure to the underlying instrument. For purchased options, risk of loss is limited to the premium paid, and for written options, risk of loss is the change in value in excess of the premium received.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Mega Cap Stock Fund
1,075,077,717
223,725,058
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.
 
The Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.
 
 
Maximum Management Fee Rate %
Class A
.60
Class M
.60
Class C
.62
Mega Cap Stock
.57
Class I
.58
Class Z
.46
 
One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:
 
 
Total Management Fee Rate %
Class A
.60
Class M
.60
Class C
.62
Mega Cap Stock
.57
Class I
.58
Class Z
.46
 
Distribution and Service Plan Fees. In accordance with Rule 12b-1 of the 1940 Act, the Fund has adopted separate Distribution and Service Plans for each class of shares. Certain classes pay Fidelity Distributors Company LLC (FDC), an affiliate of the investment adviser, separate Distribution and Service Fees, each of which is based on an annual percentage of each class' average net assets. In addition, FDC may pay financial intermediaries for selling shares of the Fund and providing shareholder support services. For the period, the Distribution and Service Fee rates, total fees and amounts retained by FDC were as follows:
 
 
Distribution Fee
Service Fee
Total Fees ($)
Retained by FDC ($)
Class A
 - %
 .25%
382,121
19,378
Class M
 .25%
 .25%
 110,584
 -
Class C
 .75%
 .25%
270,557
81,925
 
 
 
763,262
101,303
Sales Load. FDC may receive a front-end sales charge of up to 5.75% for selling Class A shares and 3.50% for selling Class M shares, some of which is paid to financial intermediaries for selling shares of the Fund. Depending on the holding period, FDC may receive contingent deferred sales charges levied on Class A, Class M and Class C redemptions. The deferred sales charges are 1.00% for Class C shares, 1.00% for certain purchases of Class A shares and .25% for certain purchases of Class M shares.
For the period, sales charge amounts retained by FDC were as follows:
 
 
Retained by FDC ($)
Class A
 137,829
Class M
 2,240
Class CA
 150
 
     140,219
 
A When Class C shares are initially sold, FDC pays commissions from its own resources to financial intermediaries through which the sales are made.
 
Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:
 
 
Amount ($)
Fidelity Mega Cap Stock Fund
 6,423
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.
 
 
Purchases ($)
Sales ($)
Realized Gain (Loss) ($)
Fidelity Mega Cap Stock Fund
 70,076,155
 22,532,960
 6,959,674
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.
 
Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.
 
Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR plus a .10% spread adjustment, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.  
 
The line of credit agreement will expire in March 2026 unless extended or renewed.
 
 
 
Amount ($)
Fidelity Mega Cap Stock Fund
2,385
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received, or for non-cash collateral, fees received from borrowers as compensation for the securities loaned. Securities lending income is reduced by any lending agent fees associated with the loan. Any security lending income earned on investing cash collateral is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Any security lending income earned on non-cash collateral is presented in the Statement of Operations as a component of dividends. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Mega Cap Stock Fund
10,888
 -
-
 
9. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses. During the period, custodian credits reduced the Fund's expenses by $1,508.
10. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
 
 
Six months ended
December 31, 2025
Year ended
June 30, 2025
Fidelity Mega Cap Stock Fund
 
 
Distributions to shareholders
 
 
Class A
$11,656,881
 $5,497,190
Class M
 1,553,367
 831,613
Class C
 1,755,697
 716,276
Mega Cap Stock
 117,539,238
 56,920,560
Class I
 27,071,109
 10,394,212
Class Z
39,786,585
14,817,982
Total  
$199,362,877
$89,177,833
 
 
11. Share Transactions.
Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:
 
 
Shares
Shares
Dollars
Dollars
 
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Fidelity Mega Cap Stock Fund
 
 
 
 
Class A
 
 
 
 
Shares sold
1,602,194
2,257,768
$47,328,905
$57,316,050
Reinvestment of distributions 
396,803
226,275
11,561,811
5,446,810
Shares redeemed
(597,632)
(1,452,835)
(17,633,190)
(36,329,356)
Net increase (decrease)
1,401,365
1,031,208
$41,257,526
$26,433,504
Class M
 
 
 
 
Shares sold
151,260
274,899
$4,469,967
$7,029,016
Reinvestment of distributions 
53,288
34,505
1,552,225
830,344
Shares redeemed
(161,712)
(322,309)
(4,754,250)
(8,260,393)
Net increase (decrease)
42,836
(12,905)
$1,267,942
$(401,033)
Class C
 
 
 
 
Shares sold
370,690
613,877
$10,623,727
$15,117,464
Reinvestment of distributions 
61,969
30,558
1,752,876
714,530
Shares redeemed
(180,585)
(375,984)
(5,187,759)
(9,195,448)
Net increase (decrease)
252,074
268,451
$7,188,844
$6,636,546
Mega Cap Stock
 
 
 
 
Shares sold
26,242,083
28,871,381
$793,090,809
$746,504,089
Reinvestment of distributions 
3,599,225
2,114,955
107,066,791
51,888,381
Shares redeemed
(10,050,748)
(22,938,304)
(303,300,137)
(585,929,361)
Net increase (decrease)
19,790,560
8,048,032
$596,857,463
$212,463,109
Class I
 
 
 
 
Shares sold
9,676,265
10,205,393
$292,217,092
$264,428,691
Reinvestment of distributions 
897,849
414,797
26,773,221
10,192,705
Shares redeemed
(2,841,863)
(7,691,002)
(85,976,816)
(195,541,442)
Net increase (decrease)
7,732,251
2,929,188
$233,013,497
$79,079,954
Class Z
 
 
 
 
Shares sold
8,969,641
21,046,412
$268,665,039
$516,960,294
Reinvestment of distributions 
541,957
278,046
16,071,557
6,781,731
Shares redeemed
(1,802,770)
(9,908,650)
(54,046,407)
(243,158,853)
Net increase (decrease)
7,708,828
11,415,808
$230,690,189
$280,583,172
12. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
13. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
 
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 9: Proxy Disclosures for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies
(Unaudited)
Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract
(Unaudited)
Note: This is not applicable for any fund included in this document.
 
1.714809.129
GII-SANN-0226
Fidelity® Growth Discovery Fund
 
 
 
Semi-Annual Report
December 31, 2025

Contents

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)

Fidelity® Growth Discovery Fund

Notes to Financial Statements

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2026 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)
Fidelity® Growth Discovery Fund
Schedule of Investments December 31, 2025 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 99.0%
 
 
Shares
Value ($)
 
AUSTRALIA - 0.1%
 
 
 
Information Technology - 0.1%
 
 
 
Software - 0.1%
 
 
 
Canva Australia Holdings Pty Ltd Class A (b)(c)(d)
 
2,900
4,773,806
BELGIUM - 0.9%
 
 
 
Health Care - 0.9%
 
 
 
Pharmaceuticals - 0.9%
 
 
 
UCB SA
 
206,300
57,847,081
BRAZIL - 0.4%
 
 
 
Consumer Discretionary - 0.1%
 
 
 
Broadline Retail - 0.1%
 
 
 
MercadoLibre Inc (d)
 
2,141
4,312,531
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
NU Holdings Ltd/Cayman Islands Class A (d)
 
327,900
5,489,046
Materials - 0.2%
 
 
 
Metals & Mining - 0.2%
 
 
 
Vale SA ADR
 
1,086,000
14,150,580
TOTAL BRAZIL
 
 
23,952,157
CANADA - 1.7%
 
 
 
Information Technology - 0.7%
 
 
 
IT Services - 0.7%
 
 
 
Shopify Inc Class A (United States) (d)
 
279,800
45,039,406
Materials - 1.0%
 
 
 
Metals & Mining - 1.0%
 
 
 
Agnico Eagle Mines Ltd/CA (United States) (e)
 
209,500
35,516,535
Franco-Nevada Corp
 
150,400
31,175,771
TOTAL MATERIALS
 
 
66,692,306
TOTAL CANADA
 
 
111,731,712
CHINA - 1.0%
 
 
 
Communication Services - 0.8%
 
 
 
Interactive Media & Services - 0.8%
 
 
 
Tencent Holdings Ltd
 
652,735
50,093,194
Consumer Discretionary - 0.2%
 
 
 
Broadline Retail - 0.2%
 
 
 
Alibaba Group Holding Ltd ADR
 
76,700
11,242,686
TOTAL CHINA
 
 
61,335,880
GERMANY - 0.4%
 
 
 
Consumer Discretionary - 0.4%
 
 
 
Specialty Retail - 0.4%
 
 
 
Auto1 Group SE (d)
 
866,200
27,790,260
GRAND CAYMAN (UK OVERSEAS TER) - 0.0%
 
 
 
Financials - 0.0%
 
 
 
Capital Markets - 0.0%
 
 
 
Bullish
 
11,200
424,144
ISRAEL - 0.0%
 
 
 
Health Care - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
Gamida Cell Ltd rights (b)(d)(e)
 
993,684
10
KOREA (SOUTH) - 1.0%
 
 
 
Information Technology - 1.0%
 
 
 
Semiconductors & Semiconductor Equipment - 1.0%
 
 
 
SK Hynix Inc
 
135,490
61,331,513
NETHERLANDS - 0.4%
 
 
 
Health Care - 0.4%
 
 
 
Biotechnology - 0.4%
 
 
 
Argenx SE ADR (d)
 
33,202
27,921,222
TAIWAN - 2.9%
 
 
 
Information Technology - 2.9%
 
 
 
Electronic Equipment, Instruments & Components - 0.0%
 
 
 
Chroma ATE Inc
 
174,000
4,301,161
Semiconductors & Semiconductor Equipment - 2.9%
 
 
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
 
605,801
184,096,866
TOTAL TAIWAN
 
 
188,398,027
THAILAND - 0.0%
 
 
 
Information Technology - 0.0%
 
 
 
Electronic Equipment, Instruments & Components - 0.0%
 
 
 
Fabrinet (d)
 
6,400
2,913,792
UNITED KINGDOM - 0.1%
 
 
 
Consumer Discretionary - 0.1%
 
 
 
Hotels, Restaurants & Leisure - 0.1%
 
 
 
Flutter Entertainment PLC (d)
 
33,900
7,289,856
UNITED STATES - 90.1%
 
 
 
Communication Services - 12.7%
 
 
 
Entertainment - 2.0%
 
 
 
Live Nation Entertainment Inc (d)(e)
 
118,734
16,919,595
Netflix Inc (d)
 
1,128,297
105,789,127
ROBLOX Corp Class A (d)
 
140,585
11,391,603
Spotify Technology SA (d)
 
900
522,638
 
 
 
134,622,963
Interactive Media & Services - 10.7%
 
 
 
Alphabet Inc Class A
 
1,336,268
418,251,884
Epic Games Inc (b)(c)(d)
 
2,244
1,458,802
Meta Platforms Inc Class A
 
399,536
263,729,718
 
 
 
683,440,404
TOTAL COMMUNICATION SERVICES
 
 
818,063,367
Consumer Discretionary - 10.5%
 
 
 
Automobiles - 2.4%
 
 
 
Tesla Inc (d)
 
344,812
155,068,853
Broadline Retail - 5.2%
 
 
 
Amazon.com Inc (d)
 
1,439,812
332,337,406
Diversified Consumer Services - 0.1%
 
 
 
Duolingo Inc Class A (d)(e)
 
39,111
6,863,981
Hotels, Restaurants & Leisure - 1.2%
 
 
 
Airbnb Inc Class A (d)
 
32,377
4,394,206
Hilton Worldwide Holdings Inc
 
115,021
33,039,782
Viking Holdings Ltd (d)
 
556,735
39,756,447
 
 
 
77,190,435
Household Durables - 0.8%
 
 
 
Blu Homes Inc (b)(c)(d)
 
3,320,224
1,029
DR Horton Inc
 
156,704
22,570,077
Lennar Corp Class A
 
25,500
2,621,400
SharkNinja Inc (d)
 
213,900
23,935,410
 
 
 
49,127,916
Specialty Retail - 0.8%
 
 
 
AutoZone Inc (d)
 
3,400
11,531,100
Lowe's Cos Inc
 
20,007
4,824,888
Ross Stores Inc
 
45,200
8,142,328
Williams-Sonoma Inc
 
153,817
27,470,178
 
 
 
51,968,494
TOTAL CONSUMER DISCRETIONARY
 
 
672,557,085
Consumer Staples - 1.5%
 
 
 
Consumer Staples Distribution & Retail - 0.7%
 
 
 
Costco Wholesale Corp
 
51,100
44,065,574
Personal Care Products - 0.3%
 
 
 
Estee Lauder Cos Inc/The Class A
 
231,700
24,263,624
Tobacco - 0.5%
 
 
 
Philip Morris International Inc
 
182,700
29,305,080
TOTAL CONSUMER STAPLES
 
 
97,634,278
Energy - 0.5%
 
 
 
Oil, Gas & Consumable Fuels - 0.5%
 
 
 
APA Corp
 
467,600
11,437,496
Cheniere Energy Inc
 
71,379
13,875,364
EQT Corp
 
180,200
9,658,720
TOTAL ENERGY
 
 
34,971,580
Financials - 8.1%
 
 
 
Banks - 0.9%
 
 
 
Bank of America Corp
 
1,002,900
55,159,500
US Bancorp
 
93,900
5,010,504
 
 
 
60,170,004
Capital Markets - 2.4%
 
 
 
Cboe Global Markets Inc
 
118,100
29,643,100
Charles Schwab Corp/The
 
325,900
32,560,669
Coinbase Global Inc Class A (d)
 
53,800
12,166,332
Gemini Space Station Inc Class A (e)
 
5,300
52,576
Morgan Stanley
 
431,710
76,641,476
Wealthfront Corp (d)
 
46,000
625,140
 
 
 
151,689,293
Consumer Finance - 0.6%
 
 
 
Capital One Financial Corp
 
152,136
36,871,681
Financial Services - 4.2%
 
 
 
Apollo Global Management Inc
 
294,200
42,588,392
Mastercard Inc Class A
 
400,438
228,602,046
 
 
 
271,190,438
TOTAL FINANCIALS
 
 
519,921,416
Health Care - 6.8%
 
 
 
Biotechnology - 2.0%
 
 
 
Adamas Pharmaceuticals Inc rights (b)(d)
 
678,800
6,788
Adamas Pharmaceuticals Inc rights (b)(d)
 
678,800
7
Alnylam Pharmaceuticals Inc (d)
 
163,449
64,995,495
Blueprint Medicines Corp rights (b)(d)
 
20,114
0
Cogent Biosciences Inc (d)
 
162,200
5,761,344
Cytokinetics Inc (d)
 
50,201
3,189,772
Gilead Sciences Inc
 
81,102
9,954,459
Insmed Inc (d)
 
219,676
38,232,411
Legend Biotech Corp ADR (d)
 
240,613
5,230,927
Moderna Inc (d)
 
136,800
4,034,232
 
 
 
131,405,435
Health Care Equipment & Supplies - 1.7%
 
 
 
Edwards Lifesciences Corp (d)
 
450,400
38,396,600
Insulet Corp (d)
 
105,400
29,958,896
Medline Inc Class A
 
366,800
15,405,600
Penumbra Inc (d)
 
71,392
22,196,487
 
 
 
105,957,583
Health Care Providers & Services - 0.3%
 
 
 
CVS Health Corp
 
252,700
20,054,272
Health Care Technology - 0.2%
 
 
 
Veeva Systems Inc Class A (d)
 
68,800
15,358,223
Pharmaceuticals - 2.6%
 
 
 
Crinetics Pharmaceuticals Inc (d)
 
11,300
526,015
Eli Lilly & Co
 
151,056
162,336,862
 
 
 
162,862,877
TOTAL HEALTH CARE
 
 
435,638,390
Industrials - 7.3%
 
 
 
Aerospace & Defense - 1.2%
 
 
 
Anduril Industries Inc Class B (b)(c)
 
800
36,528
Beta Technologies Inc Class A (d)
 
34,600
976,066
Boeing Co (d)
 
196,400
42,642,368
GE Aerospace
 
117,877
36,309,652
 
 
 
79,964,614
Air Freight & Logistics - 0.1%
 
 
 
CH Robinson Worldwide Inc
 
26,301
4,228,149
Building Products - 0.8%
 
 
 
Trane Technologies PLC
 
127,910
49,782,572
Construction & Engineering - 0.5%
 
 
 
Dycom Industries Inc (d)
 
58,100
19,631,990
EMCOR Group Inc
 
20,900
12,786,411
 
 
 
32,418,401
Electrical Equipment - 1.6%
 
 
 
GE Vernova Inc
 
107,007
69,936,565
Nextpower Inc Class A (d)
 
396,500
34,539,115
 
 
 
104,475,680
Machinery - 2.0%
 
 
 
Cummins Inc
 
77,100
39,355,695
Deere & Co
 
39,779
18,519,909
Parker-Hannifin Corp
 
34,800
30,587,808
Westinghouse Air Brake Technologies Corp
 
187,961
40,120,275
 
 
 
128,583,687
Passenger Airlines - 0.1%
 
 
 
Delta Air Lines Inc
 
115,805
8,036,867
Trading Companies & Distributors - 1.0%
 
 
 
Ferguson Enterprises Inc (United Kingdom)
 
176,118
39,431,851
United Rentals Inc
 
28,400
22,984,688
 
 
 
62,416,539
TOTAL INDUSTRIALS
 
 
469,906,509
Information Technology - 40.4%
 
 
 
Communications Equipment - 0.6%
 
 
 
Arista Networks Inc (d)
 
105,500
13,823,665
Lumentum Holdings Inc (d)
 
65,900
24,290,081
 
 
 
38,113,746
Electronic Equipment, Instruments & Components - 1.8%
 
 
 
Amphenol Corp Class A
 
505,074
68,255,700
Coherent Corp (d)
 
195,800
36,138,806
Corning Inc
 
113,200
9,911,792
 
 
 
114,306,298
Semiconductors & Semiconductor Equipment - 20.1%
 
 
 
Advanced Micro Devices Inc (d)
 
65,100
13,941,816
Broadcom Inc
 
878,893
304,184,867
First Solar Inc (d)
 
131,100
34,247,253
Lam Research Corp
 
91,000
15,577,380
Marvell Technology Inc
 
425,300
36,141,994
Micron Technology Inc
 
66,500
18,979,765
NVIDIA Corp
 
4,609,694
859,707,932
SiTime Corp (d)
 
8,800
3,108,072
 
 
 
1,285,889,079
Software - 12.5%
 
 
 
Asapp Inc warrants 8/28/2028 (b)(c)(d)
 
1,014,955
588,674
Cadence Design Systems Inc (d)
 
72,600
22,693,308
Datadog Inc Class A (d)
 
204,700
27,837,153
Microsoft Corp
 
1,318,699
637,749,210
Oracle Corp
 
182,111
35,495,255
Palantir Technologies Inc Class A (d)
 
207,600
36,900,900
Synopsys Inc (d)
 
73,200
34,383,504
Via Transportation Inc Class A (d)(e)
 
6,300
182,763
 
 
 
795,830,767
Technology Hardware, Storage & Peripherals - 5.4%
 
 
 
Apple Inc
 
1,282,644
348,699,598
TOTAL INFORMATION TECHNOLOGY
 
 
2,582,839,488
Materials - 0.8%
 
 
 
Chemicals - 0.5%
 
 
 
Corteva Inc
 
330,500
22,153,416
Sherwin-Williams Co/The
 
33,000
10,692,990
 
 
 
32,846,406
Construction Materials - 0.1%
 
 
 
Vulcan Materials Co
 
23,905
6,818,184
Metals & Mining - 0.2%
 
 
 
Alcoa Corp
 
193,960
10,307,034
TOTAL MATERIALS
 
 
49,971,624
Real Estate - 0.6%
 
 
 
Health Care REITs - 0.3%
 
 
 
Ventas Inc
 
235,200
18,199,776
Real Estate Management & Development - 0.3%
 
 
 
Zillow Group Inc Class C (d)
 
256,860
17,522,989
TOTAL REAL ESTATE
 
 
35,722,765
Utilities - 0.9%
 
 
 
Electric Utilities - 0.7%
 
 
 
Constellation Energy Corp
 
30,700
10,845,389
NRG Energy Inc
 
203,600
32,421,264
 
 
 
43,266,653
Independent Power and Renewable Electricity Producers - 0.2%
 
 
 
Vistra Corp
 
85,300
13,761,449
TOTAL UTILITIES
 
 
57,028,102
TOTAL UNITED STATES
 
 
5,774,254,604
 
TOTAL COMMON STOCKS
 (Cost $4,266,840,448)
 
 
 
6,349,964,064
 
 
 
 
Convertible Corporate Bonds - 0.0%
 
 
Principal
Amount (a)
 
Value ($)
 
UNITED STATES - 0.0%
 
 
 
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Illuminated Holdings Inc 15% (b)(c)(f)
  (Cost $809,600)
 
809,600
522,272
 
 
 
 
Convertible Preferred Stocks - 0.8%
 
 
Shares
Value ($)
 
AUSTRALIA - 0.0%
 
 
 
Information Technology - 0.0%
 
 
 
Software - 0.0%
 
 
 
Canva Australia Holdings Pty Ltd Series A (b)(c)(d)
 
423
696,317
Canva Australia Holdings Pty Ltd Series A2 (b)(c)(d)
 
77
126,753
 
 
 
 
TOTAL AUSTRALIA
 
 
823,070
UNITED STATES - 0.8%
 
 
 
Financials - 0.0%
 
 
 
Financial Services - 0.0%
 
 
 
Akeana Series C (b)(c)(d)
 
30,000
357,600
Health Care - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
ElevateBio LLC Series C (b)(c)(d)
 
75,700
144,587
Industrials - 0.1%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Anduril Industries Inc Series F (b)(c)(d)
 
114,642
5,234,554
Anduril Industries Inc Series G (b)(c)
 
7,400
337,884
 
 
 
5,572,438
Air Freight & Logistics - 0.0%
 
 
 
Zipline International Inc Series H (b)(c)
 
58,100
3,268,953
TOTAL INDUSTRIALS
 
 
8,841,391
Information Technology - 0.7%
 
 
 
IT Services - 0.3%
 
 
 
X.Ai Holdings Corp Series C (b)(c)
 
204,100
15,401,386
Software - 0.4%
 
 
 
Anthropic PBC Series F (b)(c)
 
25,300
5,902,490
Asapp Inc Series C (b)(c)(d)
 
250,763
268,316
Asapp Inc Series D (b)(c)(d)
 
1,768,998
1,503,649
Databricks Inc Series K (b)(c)
 
23,900
4,541,000
OpenAI Group Pbc Series A-2 (b)(c)
 
18,274
8,725,470
 
 
 
20,940,925
TOTAL INFORMATION TECHNOLOGY
 
 
36,342,311
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Illuminated Holdings Inc Series C2 (b)(c)(d)
 
50,974
608,120
Illuminated Holdings Inc Series C3 (b)(c)(d)
 
63,718
760,156
Illuminated Holdings Inc Series C4 (b)(c)(d)
 
18,303
218,354
Illuminated Holdings Inc Series C5 (b)(c)(d)
 
36,887
440,062
TOTAL MATERIALS
 
 
2,026,692
TOTAL UNITED STATES
 
 
47,712,581
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $36,223,986)
 
 
 
48,535,651
 
 
 
 
Preferred Securities - 0.0%
 
 
Principal
Amount (a)
 
Value ($)
 
UNITED STATES - 0.0%
 
 
 
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Illuminated Holdings Inc 15% (b)(c)(f)
  (Cost $1,098,800)
 
1,098,800
1,028,367
 
 
 
 
Money Market Funds - 0.5%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (g)
 
3.79
11,569,987
11,572,301
Fidelity Securities Lending Cash Central Fund (g)(h)
 
3.77
20,852,869
20,854,954
 
TOTAL MONEY MARKET FUNDS
 (Cost $32,427,704)
 
 
 
32,427,255
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.3%
 (Cost $4,337,400,538)
 
 
 
6,432,477,609
NET OTHER ASSETS (LIABILITIES) - (0.3)%  
(16,067,492)
NET ASSETS - 100.0%
6,416,410,117
 
 
Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Level 3 security.
 
(c)
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 $56,945,129 or 0.9% of net assets.
 
(d)
Non-income producing.
 
(e)
Security or a portion of the security is on loan at period end.
 
(f)
Security is perpetual in nature with no stated maturity date.
 
(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 ($)
 
Akeana Series C
1/23/2024
382,824
 
 
 
Anduril Industries Inc Class B
6/16/2025
32,706
 
 
 
Anduril Industries Inc Series F
8/7/2024
2,491,927
 
 
 
Anduril Industries Inc Series G
4/17/2025
302,533
 
 
 
Anthropic PBC Series F
8/18/2025
3,566,480
 
 
 
Asapp Inc Series C
4/30/2021
1,654,309
 
 
 
Asapp Inc Series D
8/29/2023
6,830,986
 
 
 
Asapp Inc warrants 8/28/2028
8/29/2023
1
 
 
 
Blu Homes Inc
5/21/2020
5,743
 
 
 
Canva Australia Holdings Pty Ltd Class A
8/19/2025 - 11/12/2025
4,773,806
 
 
 
Canva Australia Holdings Pty Ltd Series A
9/22/2023
451,198
 
 
 
Canva Australia Holdings Pty Ltd Series A2
9/22/2023
82,133
 
 
 
Databricks Inc Series K
9/8/2025
3,585,000
 
 
 
ElevateBio LLC Series C
3/9/2021
317,561
 
 
 
Epic Games Inc
3/29/2021
1,985,940
 
 
 
Illuminated Holdings Inc 15%
6/14/2023
809,600
 
 
 
Illuminated Holdings Inc 15%
9/27/2023
1,098,800
 
 
 
Illuminated Holdings Inc Series C2
7/7/2020
1,274,350
 
 
 
Illuminated Holdings Inc Series C3
7/7/2020
1,911,540
 
 
 
Illuminated Holdings Inc Series C4
1/8/2021
658,908
 
 
 
Illuminated Holdings Inc Series C5
6/16/2021
1,593,518
 
 
 
OpenAI Group Pbc Series A-2
9/30/2024
3,433,000
 
 
 
X.Ai Holdings Corp Series C
11/22/2024
4,418,765
 
 
 
Zipline International Inc Series H
12/3/2025
3,268,954
 
 
 
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 ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
63,622,227
668,879,022
720,929,150
509,963
651
(449)
11,572,301
11,569,987
0.0%
Fidelity Securities Lending Cash Central Fund
186,613,316
255,416,704
421,176,445
316,183
1,379
-
20,854,954
20,852,869
0.1%
Total
250,235,543
924,295,726
1,142,105,595
826,146
2,030
(449)
32,427,255
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column 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 income received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of December 31, 2025, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Common Stocks
 
 
 
 
Communication Services
868,156,561
816,604,565
50,093,194
1,458,802
Consumer Discretionary
723,192,418
723,191,389
-
1,029
Consumer Staples
97,634,278
97,634,278
-
-
Energy
34,971,580
34,971,580
-
-
Financials
525,834,606
525,834,606
-
-
Health Care
521,406,703
521,399,898
-
6,805
Industrials
469,906,509
469,869,981
-
36,528
Information Technology
2,885,296,032
2,818,602,039
61,331,513
5,362,480
Materials
130,814,510
130,814,510
-
-
Real Estate
35,722,765
35,722,765
-
-
Utilities
57,028,102
57,028,102
-
-
 Convertible Corporate Bonds
 
 
 
 
Materials
522,272
-
-
522,272
 Convertible Preferred Stocks
 
 
 
 
Financials
357,600
-
-
357,600
Health Care
144,587
-
-
144,587
Industrials
8,841,391
-
-
8,841,391
Information Technology
37,165,381
-
-
37,165,381
Materials
2,026,692
-
-
2,026,692
 Preferred Securities
 
 
 
 
Materials
1,028,367
-
-
1,028,367
 Money Market Funds
32,427,255
32,427,255
-
-
 Total Investments in Securities:
6,432,477,609
6,264,100,968
111,424,707
56,951,934
Financial Statements (Unaudited)
Statement of Assets and Liabilities
 
As of December 31, 2025 (Unaudited)
Assets
 
 
 
 
Investment in securities, at value (including  securities loaned of $20,204,717) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $4,304,972,834)
$
6,400,050,354
 
 
Fidelity Central Funds (cost $32,427,704)
32,427,255
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $4,337,400,538)
 
 
$
6,432,477,609
Foreign currency held at value (cost $233,356)
 
 
232,878
Receivable for investments sold
 
 
7,700,861
Receivable for fund shares sold
 
 
1,671,721
Dividends receivable
 
 
1,705,644
Interest receivable
 
 
234,709
Distributions receivable from Fidelity Central Funds
 
 
29,754
Prepaid expenses
 
 
5,182
Other receivables
 
 
15,552
  Total assets
 
 
6,444,073,910
Liabilities
 
 
 
 
Payable for fund shares redeemed
$
4,388,051
 
 
Accrued management fee
2,369,995
 
 
Other payables and accrued expenses
57,977
 
 
Collateral on securities loaned
20,847,770
 
 
  Total liabilities
 
 
 
27,663,793
Commitments and contingent liabilities (see Significant Accounting Policies note)
 
 
 
 
Net Assets  
 
 
$
6,416,410,117
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
3,791,300,397
Total accumulated earnings (loss)
 
 
 
2,625,109,720
Net Assets
 
 
$
6,416,410,117
 
 
 
 
 
Net Asset Value and Maximum Offering Price
 
 
 
 
Growth Discovery :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($5,722,017,515 ÷ 81,945,865 shares)
 
 
$
69.83
Class K :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($694,392,602 ÷ 9,919,626 shares)
 
 
$
70.00
Statement of Operations
Six months ended December 31, 2025 (Unaudited)
 
 
Investment Income
 
 
 
 
Dividends
 
 
$
15,520,101
Interest  
 
 
114,681
Income from Fidelity Central Funds (including $316,183 from security lending)
 
 
826,146
 Total income
 
 
 
16,460,928
Expenses
 
 
 
 
Management fee
 
 
 
 
 Basic fee
$
19,482,236
 
 
 Performance adjustment
(4,598,096)
 
 
Custodian fees and expenses
39,365
 
 
Independent trustees' fees and expenses
13,129
 
 
Registration fees
59,329
 
 
Audit fees
45,095
 
 
Legal
5,787
 
 
Interest
34,065
 
 
Miscellaneous
8,760
 
 
 Total expenses
 
 
 
15,089,670
Net Investment income (loss)
 
 
 
1,371,258
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(6,469,603)
 
 
   Redemptions in-kind
 
554,951,694
 
 
   Fidelity Central Funds
 
2,030
 
 
 Foreign currency transactions
 
(131,002)
 
 
 Futures contracts
 
1,660,672
 
 
Total net realized gain (loss)
 
 
 
550,013,791
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(25,518,596)
 
 
   Fidelity Central Funds
 
(449)
 
 
 Assets and liabilities in foreign currencies
 
(15,335)
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
(25,534,380)
Net gain (loss)
 
 
 
524,479,411
Net increase (decrease) in net assets resulting from operations
 
 
$
525,850,669
Statement of Changes in Net Assets
 
 
Six months ended
December 31, 2025
(Unaudited)
 
Year ended
June 30, 2025
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
1,371,258
$
32,348
Net realized gain (loss)
 
550,013,791
 
676,202,460
Change in net unrealized appreciation (depreciation)
 
(25,534,380)
 
(3,389,348)
Net increase (decrease) in net assets resulting from operations
 
525,850,669
 
672,845,460
Distributions to shareholders
 
(111,294,245)
 
(728,368,940)
 
 
 
 
 
Share transactions - net increase (decrease)
 
(311,621,720)
 
479,939,387
Total increase (decrease) in net assets
 
102,934,704
 
424,415,907
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
6,313,475,413
 
5,889,059,506
End of period
$
6,416,410,117
$
6,313,475,413
 
 
 
 
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Growth Discovery Fund
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
65.48
$
66.33
$
50.18
$
42.65
$
58.70
$
45.22
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.01
 
- C
 
(.04)
 
.18
 
(.07)
 
(.07)
     Net realized and unrealized gain (loss)
 
5.45
 
7.05
 
17.56
 
8.84
 
(8.48)
 
18.53
  Total from investment operations
 
5.46  
 
7.05  
 
17.52  
 
9.02  
 
(8.55)
 
18.46
  Distributions from net investment income
 
(.12)
 
-
 
(.03)
 
(.01)
 
(.13)
 
(.01)
  Distributions from net realized gain
 
(.99)
 
(7.90)
 
(1.35)
 
(1.48)
 
(7.37)
 
(4.98)
     Total distributions
 
(1.11)
 
(7.90)
 
(1.37) D
 
(1.49)
 
(7.50)
 
(4.98) D
  Net asset value, end of period
$
69.83
$
65.48
$
66.33
$
50.18
$
42.65
$
58.70
 Total Return E,F
 
8.41
%
 
12.24%
 
35.89%
 
21.46%
 
(17.10)%
 
43.10%
 Ratios to Average Net Assets B,G,H
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.47% I
 
.62%
 
.69%
 
.83%
 
.77%
 
.79%
    Expenses net of fee waivers, if any
 
.47
% I
 
.62%
 
.69%
 
.83%
 
.77%
 
.79%
    Expenses net of all reductions, if any
 
.47% I
 
.62%
 
.69%
 
.83%
 
.77%
 
.78%
    Net investment income (loss)
 
.03% I
 
(.01)%
 
(.08)%
 
.40%
 
(.14)%
 
(.12)%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
5,722,018
$
5,621,912
$
5,286,394
$
3,073,034
$
2,338,597
$
2,944,158
    Portfolio turnover rate J
 
78
% I,K
 
60% K
 
41% K
 
53%
 
45%
 
51%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CAmount represents less than $.005 per share.
DTotal distributions per share do not sum due to rounding.
ETotal returns for periods of less than one year are not annualized.
FTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
GFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
HExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
IAnnualized.
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
KPortfolio turnover rate excludes securities received or delivered in-kind.
 
Fidelity® Growth Discovery Fund Class K
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
65.66
$
66.47
$
50.29
$
42.71
$
58.78
$
45.27
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.04
 
.04
 
.01
 
.22
 
(.02)
 
(.02)
     Net realized and unrealized gain (loss)
 
5.46
 
7.07
 
17.59
 
8.87
 
(8.50)
 
18.56
  Total from investment operations
 
5.50  
 
7.11  
 
17.60  
 
9.09  
 
(8.52)
 
18.54
  Distributions from net investment income
 
(.17)
 
-
 
(.08)
 
(.03)
 
(.16)
 
(.03)
  Distributions from net realized gain
 
(.99)
 
(7.92)
 
(1.35)
 
(1.48)
 
(7.40)
 
(5.00)
     Total distributions
 
(1.16)
 
(7.92)
 
(1.42) C
 
(1.51)
 
(7.55) C
 
(5.03)
  Net asset value, end of period
$
70.00
$
65.66
$
66.47
$
50.29
$
42.71
$
58.78
 Total Return D,E
 
8.45
%
 
12.32%
 
36.00%
 
21.61%
 
(17.04)%
 
43.25%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.40% H
 
.54%
 
.59%
 
.73%
 
.68%
 
.69%
    Expenses net of fee waivers, if any
 
.40
% H
 
.54%
 
.59%
 
.72%
 
.68%
 
.69%
    Expenses net of all reductions, if any
 
.40% H
 
.54%
 
.59%
 
.72%
 
.68%
 
.69%
    Net investment income (loss)
 
.10% H
 
.07%
 
.02%
 
.50%
 
(.05)%
 
(.03)%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
694,393
$
691,564
$
602,666
$
380,324
$
429,818
$
430,141
    Portfolio turnover rate I
 
78
% H,J
 
60% J
 
41% J
 
53%
 
45%
 
51%
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
HAnnualized.
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
JPortfolio turnover rate excludes securities received or delivered in-kind.
Notes to Financial Statements
 (Unaudited)
For the period ended December 31, 2025
 
1. Organization.
Fidelity Growth Discovery Fund (the Fund) is a non-diversified fund of Fidelity Hastings Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Growth Discovery and Class K shares, each of which has equal rights as to assets and voting privileges. Each class has exclusive voting rights with respect to matters that affect that class.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments 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 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 service 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.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Corporate bonds and preferred securities are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Investments in open-end mutual funds, including the Fidelity Central 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. The aggregate value of investments by input level as of December 31, 2025 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), redemptions in-kind, partnerships and losses deferred due to wash sales and excise tax regulations.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$2,253,801,027
Gross unrealized depreciation
(160,764,056)
Net unrealized appreciation (depreciation)
$2,093,036,971
Tax cost
$4,339,440,638
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
 
Commitments. A commitment is an agreement to acquire an investment at a future date (subject to conditions) in connection with a potential public or non-public offering. Commitments outstanding at period end are presented in the table below. Unrealized appreciation (depreciation) on any commitments outstanding at period end is separately presented in the Statement of Assets and Liabilities as Unrealized appreciation (depreciation) on unfunded commitments, and any change in unrealized appreciation (depreciation) on unfunded commitments during the period is separately presented in the Statement of Operations, as applicable based on contractual conditions of each commitment.
 
 
Investment to be Acquired
Commitment Amount ($)
Unrealized Appreciation (Depreciation)($)
Fidelity Growth Discovery Fund
Space Exploration Technologies Corp. Class A
3,057,723
-
 
Space Exploration Technologies Corp. Class C
5,290,286
-
 
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period.
 
Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Growth Discovery Fund
3,430,686,188
2,543,940,186
 
Unaffiliated Redemptions In-Kind. Unaffiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The total net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Net realized gain or loss on Affiliated Issuers ($)
Net realized gain or loss on Unaffiliated Issuers ($)
Total net realized gain or loss on Investments ($)
Total Proceeds ($)
Fidelity Growth Discovery Fund
19,242,053
-
554,951,694
554,951,694
1,284,554,781
 
Prior Fiscal Year Unaffiliated Redemptions In-Kind. Unaffiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Total net realized gain or loss on Investments ($)
Total Proceeds ($)
Fidelity Growth Discovery Fund
5,541,301
268,261,597
344,296,738
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.
 
The Fund's management contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. The management fee is determined by calculating a basic fee and then applying a performance adjustment. When determining a class's basic fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual basic fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.
 
 
Maximum Management Fee Rate %
Growth Discovery
.66
Class K
.56
 
One-twelfth of the basic fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the basic fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:
 
 
Total Management Fee Rate %
Growth Discovery
.60
Class K
.53
 
The performance adjustment rate is calculated monthly by comparing over the performance period the Fund's performance to that of the performance adjustment index listed below. Returns for certain performance adjustment indexes are adjusted for tax withholding rates applicable to U.S. based mutual funds.
 
 
Performance Adjustment Index
Fidelity Growth Discovery Fund
Russell 3000 Growth Index
 
For the purposes of calculating the performance adjustment for the Fund, the Fund's investment performance is based on the performance of Growth Discovery. To the extent that other classes of the Fund have higher expenses, this could result in those classes bearing a larger positive performance adjustment and smaller negative performance adjustment than would be the case if each class's own performance were considered. The performance period is the most recent 36 month period. The maximum annualized performance adjustment rate is ±.20% of the Fund's average net assets over the performance period. The performance adjustment rate is divided by twelve and multiplied by the Fund's average net assets over the performance period, and the resulting dollar amount is proportionately added to or subtracted from a class's basic fee. For the reporting period, the total annualized performance adjustment was (.14)%.
 
Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:
 
 
Amount ($)
Fidelity Growth Discovery Fund
 46,791
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds at rates that are beneficial to both the borrowing and lending fund. Borrowings under the program are generally for temporary or emergency purposes, including meeting fund shareholder redemptions. The interfund loan rate is determined, as specified in the Exemptive Order, by averaging, (1) the higher of the overnight time deposit rate and the current overnight repurchase agreement rate, and (2) a benchmark rate representing the lowest bank loan rate available to the funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
 
 
 
Borrower or Lender
Average Loan Balance ($)
Weighted Average Interest Rate
Interest Expense ($)
Fidelity Growth Discovery Fund 
 Borrower
 19,141,714
4.58%
 34,065
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.
 
 
Purchases ($)
Sales ($)
Realized Gain (Loss) ($)
Fidelity Growth Discovery Fund
 262,094,329
 205,590,089
 7,314,417
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.
 
Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.
 
Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR plus a .10% spread adjustment, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.  
 
The line of credit agreement will expire in March 2026 unless extended or renewed.
 
 
 
Amount ($)
Fidelity Growth Discovery Fund
3,553
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received, or for non-cash collateral, fees received from borrowers as compensation for the securities loaned. Securities lending income is reduced by any lending agent fees associated with the loan. Any security lending income earned on investing cash collateral is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Any security lending income earned on non-cash collateral is presented in the Statement of Operations as a component of dividends. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Growth Discovery Fund
27,389
 13,423
-
9. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
 
 
Six months ended
December 31, 2025
Year ended
June 30, 2025
Fidelity Growth Discovery Fund
 
 
Distributions to shareholders
 
 
Growth Discovery
$99,232,719
 $656,325,543
Class K
12,061,526
72,043,397
Total  
$111,294,245
$728,368,940
10. Share Transactions.
Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:
 
 
Shares
Shares
Dollars
Dollars
 
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Fidelity Growth Discovery Fund
 
 
 
 
Growth Discovery
 
 
 
 
Shares sold
22,633,758
25,370,863
$1,519,724,009
$1,578,561,607
Reinvestment of distributions 
1,292,252
10,154,732
86,219,060
601,890,192
Shares redeemed
(27,841,485)
(29,364,939)
(1,874,639,131)
(1,791,187,382)
Net increase (decrease)
(3,915,475)
6,160,656
$(268,696,062)
$389,264,417
Class K
 
 
 
 
Shares sold
482,778
3,855,430
$33,094,902
$238,997,686
Reinvestment of distributions 
180,400
1,214,747
12,061,526
72,043,397
Shares redeemed
(1,275,440)
(3,604,447)
(88,082,086)
(220,366,113)
Net increase (decrease)
(612,262)
1,465,730
$(42,925,658)
$90,674,970
11. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
12. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
 
 
 
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 9: Proxy Disclosures for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies
(Unaudited)
Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract
(Unaudited)
Note: This is not applicable for any fund included in this document.
 
1.714430.127
CII-SANN-0226
Fidelity® Fund
 
 
 
Semi-Annual Report
December 31, 2025

Contents

Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)

Fidelity® Fund

Notes to Financial Statements

Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies

Item 9: Proxy Disclosures for Open-End Management Investment Companies

Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies

Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 if you're an individual investing directly with Fidelity, call 1-800-835-5092 if you're a plan sponsor or participant with Fidelity as your recordkeeper or call 1-877-208-0098 on institutional accounts or if you're an advisor or invest through one to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2026 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies (Semi-Annual Report)
Fidelity® Fund
Schedule of Investments December 31, 2025 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 99.3%
 
 
Shares
Value ($)
 
BELGIUM - 0.4%
 
 
 
Health Care - 0.4%
 
 
 
Pharmaceuticals - 0.4%
 
 
 
UCB SA
 
140,200
39,312,461
CANADA - 1.0%
 
 
 
Energy - 1.0%
 
 
 
Oil, Gas & Consumable Fuels - 1.0%
 
 
 
Imperial Oil Ltd
 
983,708
84,986,408
Health Care - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
Xenon Pharmaceuticals Inc (a)
 
63,900
2,863,998
TOTAL CANADA
 
 
87,850,406
NETHERLANDS - 0.3%
 
 
 
Health Care - 0.3%
 
 
 
Biotechnology - 0.3%
 
 
 
Argenx SE ADR (a)
 
27,000
22,705,650
Newamsterdam Pharma Co NV (a)
 
243,800
8,552,504
 
 
 
 
TOTAL NETHERLANDS
 
 
31,258,154
UNITED KINGDOM - 0.4%
 
 
 
Financials - 0.2%
 
 
 
Insurance - 0.2%
 
 
 
Hiscox Ltd
 
997,500
19,133,375
Industrials - 0.2%
 
 
 
Aerospace & Defense - 0.2%
 
 
 
Rolls-Royce Holdings PLC
 
1,167,500
18,056,220
TOTAL UNITED KINGDOM
 
 
37,189,595
UNITED STATES - 97.2%
 
 
 
Communication Services - 16.9%
 
 
 
Diversified Telecommunication Services - 0.8%
 
 
 
AT&T Inc
 
2,862,600
71,106,984
Entertainment - 1.9%
 
 
 
Netflix Inc (a)
 
1,020,200
95,653,952
Walt Disney Co/The
 
679,500
77,306,715
 
 
 
172,960,667
Interactive Media & Services - 14.2%
 
 
 
Alphabet Inc Class A
 
2,668,054
835,100,902
Meta Platforms Inc Class A
 
691,501
456,452,895
 
 
 
1,291,553,797
TOTAL COMMUNICATION SERVICES
 
 
1,535,621,448
Consumer Discretionary - 12.6%
 
 
 
Automobiles - 1.6%
 
 
 
General Motors Co
 
777,297
63,209,792
Tesla Inc (a)
 
184,500
82,973,340
 
 
 
146,183,132
Broadline Retail - 5.6%
 
 
 
Amazon.com Inc (a)
 
2,194,430
506,518,333
Hotels, Restaurants & Leisure - 3.1%
 
 
 
Booking Holdings Inc
 
14,400
77,116,752
Carnival Corp (a)
 
1,715,200
52,382,208
Expedia Group Inc Class A
 
179,700
50,910,807
Viking Holdings Ltd (a)
 
1,444,900
103,180,309
 
 
 
283,590,076
Household Durables - 0.2%
 
 
 
Somnigroup International Inc
 
253,100
22,596,768
Specialty Retail - 2.1%
 
 
 
O'Reilly Automotive Inc (a)
 
597,200
54,470,612
Ross Stores Inc
 
328,900
59,248,046
TJX Cos Inc/The
 
476,300
73,164,443
 
 
 
186,883,101
TOTAL CONSUMER DISCRETIONARY
 
 
1,145,771,410
Consumer Staples - 4.9%
 
 
 
Beverages - 3.3%
 
 
 
Coca-Cola Co/The
 
3,800,900
265,720,919
Keurig Dr Pepper Inc
 
1,166,000
32,659,660
 
 
 
298,380,579
Food Products - 0.5%
 
 
 
Mondelez International Inc
 
891,300
47,978,679
Household Products - 0.8%
 
 
 
Procter & Gamble Co/The
 
494,400
70,852,464
Personal Care Products - 0.3%
 
 
 
Kenvue Inc
 
1,890,049
32,603,345
TOTAL CONSUMER STAPLES
 
 
449,815,067
Energy - 1.8%
 
 
 
Oil, Gas & Consumable Fuels - 1.8%
 
 
 
Exxon Mobil Corp
 
1,013,085
121,914,649
Shell PLC ADR
 
600,900
44,154,132
TOTAL ENERGY
 
 
166,068,781
Financials - 15.8%
 
 
 
Banks - 10.3%
 
 
 
Bank of America Corp
 
5,312,800
292,204,000
Citigroup Inc
 
1,184,900
138,265,981
M&T Bank Corp
 
521,900
105,152,412
US Bancorp
 
2,068,425
110,371,158
Wells Fargo & Co
 
3,052,700
284,511,640
 
 
 
930,505,191
Financial Services - 3.2%
 
 
 
Mastercard Inc Class A
 
510,508
291,438,807
Insurance - 2.3%
 
 
 
Arthur J Gallagher & Co
 
822,000
212,725,380
Reinsurance Group of America Inc
 
4,100
834,186
 
 
 
213,559,566
TOTAL FINANCIALS
 
 
1,435,503,564
Health Care - 10.3%
 
 
 
Biotechnology - 2.1%
 
 
 
AbbVie Inc
 
178,500
40,785,465
Alnylam Pharmaceuticals Inc (a)
 
18,600
7,396,290
Biogen Inc (a)
 
102,300
18,003,777
Cogent Biosciences Inc (a)
 
476,900
16,939,488
Cytokinetics Inc (a)
 
151,800
9,645,372
Gilead Sciences Inc
 
477,200
58,571,528
Insmed Inc (a)
 
175,900
30,613,636
Moderna Inc (a)
 
313,900
9,256,911
Soleno Therapeutics Inc (a)
 
48,500
2,245,550
 
 
 
193,458,017
Health Care Equipment & Supplies - 3.1%
 
 
 
Boston Scientific Corp (a)
 
1,565,100
149,232,285
Edwards Lifesciences Corp (a)
 
692,700
59,052,675
Insulet Corp (a)
 
146,800
41,726,432
Medline Inc Class A
 
783,500
32,907,000
TransMedics Group Inc (a)
 
1
122
 
 
 
282,918,514
Health Care Providers & Services - 2.2%
 
 
 
Cencora Inc
 
111,300
37,591,575
CVS Health Corp
 
1,465,000
116,262,400
Humana Inc
 
164,526
42,140,044
 
 
 
195,994,019
Life Sciences Tools & Services - 1.2%
 
 
 
Danaher Corp
 
169,900
38,893,508
Thermo Fisher Scientific Inc
 
123,700
71,677,965
 
 
 
110,571,473
Pharmaceuticals - 1.7%
 
 
 
Eli Lilly & Co
 
145,800
156,688,344
TOTAL HEALTH CARE
 
 
939,630,367
Industrials - 8.1%
 
 
 
Aerospace & Defense - 3.4%
 
 
 
Anduril Industries Inc Class B (b)(c)
 
1,799
82,142
Anduril Industries Inc Class C (b)(c)
 
1
46
Boeing Co (a)
 
923,834
200,582,839
GE Aerospace
 
226,400
69,737,992
Howmet Aerospace Inc
 
159,100
32,618,682
 
 
 
303,021,701
Air Freight & Logistics - 0.7%
 
 
 
FedEx Corp
 
215,700
62,307,102
Building Products - 0.3%
 
 
 
Trane Technologies PLC
 
77,100
30,007,320
Construction & Engineering - 0.0%
 
 
 
Bowman Consulting Group Ltd (a)
 
82,524
2,724,942
Machinery - 2.0%
 
 
 
Parker-Hannifin Corp
 
148,600
130,613,456
Westinghouse Air Brake Technologies Corp
 
248,700
53,085,015
 
 
 
183,698,471
Passenger Airlines - 0.8%
 
 
 
Delta Air Lines Inc
 
539,100
37,413,540
United Airlines Holdings Inc (a)
 
332,900
37,224,878
 
 
 
74,638,418
Professional Services - 0.5%
 
 
 
Leidos Holdings Inc
 
251,000
45,280,400
Trading Companies & Distributors - 0.4%
 
 
 
WW Grainger Inc
 
36,300
36,628,515
TOTAL INDUSTRIALS
 
 
738,306,869
Information Technology - 24.7%
 
 
 
IT Services - 1.5%
 
 
 
IBM Corporation
 
465,500
137,885,755
Semiconductors & Semiconductor Equipment - 10.7%
 
 
 
Broadcom Inc
 
327,700
113,416,970
NVIDIA Corp
 
4,569,700
852,249,050
 
 
 
965,666,020
Software - 8.3%
 
 
 
Autodesk Inc (a)
 
326,000
96,499,260
Microsoft Corp
 
1,369,240
662,191,849
 
 
 
758,691,109
Technology Hardware, Storage & Peripherals - 4.2%
 
 
 
Apple Inc
 
1,420,600
386,204,316
TOTAL INFORMATION TECHNOLOGY
 
 
2,248,447,200
Materials - 0.9%
 
 
 
Chemicals - 0.9%
 
 
 
Corteva Inc
 
665,000
44,574,950
Mosaic Co/The
 
1,533,500
36,942,015
TOTAL MATERIALS
 
 
81,516,965
Real Estate - 0.5%
 
 
 
Residential REITs - 0.1%
 
 
 
Camden Property Trust
 
105,640
11,628,851
Retail REITs - 0.4%
 
 
 
Macerich Co/The
 
2,052,377
37,886,880
TOTAL REAL ESTATE
 
 
49,515,731
Utilities - 0.7%
 
 
 
Electric Utilities - 0.3%
 
 
 
Exelon Corp
 
717,300
31,267,107
Multi-Utilities - 0.4%
 
 
 
Sempra
 
391,600
34,574,364
TOTAL UTILITIES
 
 
65,841,471
TOTAL UNITED STATES
 
 
8,856,038,873
 
TOTAL COMMON STOCKS
 (Cost $5,466,254,426)
 
 
 
9,051,649,489
 
 
 
 
Convertible Preferred Stocks - 0.1%
 
 
Shares
Value ($)
 
UNITED STATES - 0.1%
 
 
 
Industrials - 0.0%
 
 
 
Aerospace & Defense - 0.0%
 
 
 
Anduril Industries Inc Series G (b)(c)
 
17,400
794,484
Information Technology - 0.1%
 
 
 
Software - 0.1%
 
 
 
OpenAI Group Pbc Series A-2 (b)(c)
 
13,233
6,318,493
TOTAL UNITED STATES
 
 
7,112,977
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $3,197,400)
 
 
 
7,112,977
 
 
 
 
Money Market Funds - 0.0%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (d)
 
3.79
208
208
Fidelity Securities Lending Cash Central Fund (d)(e)
 
3.77
9,947
9,948
 
TOTAL MONEY MARKET FUNDS
 (Cost $9,948)
 
 
 
10,156
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.4%
 (Cost $5,469,461,774)
 
 
 
9,058,772,622
NET OTHER ASSETS (LIABILITIES) - 0.6%  
54,364,169
NET ASSETS - 100.0%
9,113,136,791
 
 
Legend
 
(a)
Non-income producing.
 
(b)
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 $7,195,165 or 0.1% of net assets.
 
(c)
Level 3 security.
 
(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.
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Anduril Industries Inc Class B
6/16/2025
73,548
 
 
 
Anduril Industries Inc Class C
6/16/2025
41
 
 
 
Anduril Industries Inc Series G
4/17/2025
711,361
 
 
 
OpenAI Group Pbc Series A-2
9/30/2024
2,486,039
 
 
 
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 ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
95,235,248
1,477,822,514
1,573,054,068
3,296,701
(3,462)
(24)
208
208
0.0%
Fidelity Securities Lending Cash Central Fund
80,332,269
239,068,389
319,400,658
71,749
9,948
-
9,948
9,947
0.0%
Total
175,567,517
1,716,890,903
1,892,454,726
3,368,450
6,486
(24)
10,156
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column 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 income received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of December 31, 2025, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Common Stocks
 
 
 
 
Communication Services
1,535,621,448
1,535,621,448
-
-
Consumer Discretionary
1,145,771,410
1,145,771,410
-
-
Consumer Staples
449,815,067
449,815,067
-
-
Energy
251,055,189
251,055,189
-
-
Financials
1,454,636,939
1,454,636,939
-
-
Health Care
1,013,064,980
1,013,064,980
-
-
Industrials
756,363,089
738,224,681
18,056,220
82,188
Information Technology
2,248,447,200
2,248,447,200
-
-
Materials
81,516,965
81,516,965
-
-
Real Estate
49,515,731
49,515,731
-
-
Utilities
65,841,471
65,841,471
-
-
 Convertible Preferred Stocks
 
 
 
 
Industrials
794,484
-
-
794,484
Information Technology
6,318,493
-
-
6,318,493
 Money Market Funds
10,156
10,156
-
-
 Total Investments in Securities:
9,058,772,622
9,033,521,237
18,056,220
7,195,165
Financial Statements (Unaudited)
Statement of Assets and Liabilities
 
As of December 31, 2025 (Unaudited)
Assets
 
 
 
 
Investment in securities, at value - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $5,469,451,826)
$
9,058,762,466
 
 
Fidelity Central Funds (cost $9,948)
10,156
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $5,469,461,774)
 
 
$
9,058,772,622
Receivable for investments sold
 
 
69,410,891
Receivable for fund shares sold
 
 
1,637,548
Dividends receivable
 
 
3,494,604
Distributions receivable from Fidelity Central Funds
 
 
131,371
Prepaid expenses
 
 
6,920
Other receivables
 
 
27,197
  Total assets
 
 
9,133,481,153
Liabilities
 
 
 
 
Payable to custodian bank
$
1,722
 
 
Payable for investments purchased
2,002,995
 
 
Payable for fund shares redeemed
2,188,504
 
 
Accrued management fee
3,177,706
 
 
Notes payable to affiliates
12,896,000
 
 
Other payables and accrued expenses
77,435
 
 
  Total liabilities
 
 
 
20,344,362
Net Assets  
 
 
$
9,113,136,791
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
4,387,893,225
Total accumulated earnings (loss)
 
 
 
4,725,243,566
Net Assets
 
 
$
9,113,136,791
 
 
 
 
 
Net Asset Value and Maximum Offering Price
 
 
 
 
Fidelity Fund :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($8,809,047,562 ÷ 78,433,079 shares)
 
 
$
112.31
Class K :
 
 
 
 
Net Asset Value, offering price and redemption price per share ($304,089,229 ÷ 2,705,293 shares)
 
 
$
112.41
Statement of Operations
Six months ended December 31, 2025 (Unaudited)
 
 
Investment Income
 
 
 
 
Dividends
 
 
$
31,406,843
Interest  
 
 
18,385
Income from Fidelity Central Funds (including $71,749 from security lending)
 
 
3,368,450
 Total income
 
 
 
34,793,678
Expenses
 
 
 
 
Management fee
$
18,643,267
 
 
Custodian fees and expenses
61,120
 
 
Independent trustees' fees and expenses
17,742
 
 
Registration fees
40,238
 
 
Audit fees
45,114
 
 
Legal
8,840
 
 
Interest
4,270
 
 
Miscellaneous
11,087
 
 
 Total expenses
 
 
 
18,831,678
Net Investment income (loss)
 
 
 
15,962,000
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $1,157,619)
 
185,082,046
 
 
   Redemptions in-kind
 
1,016,477,964
 
 
   Fidelity Central Funds
 
6,486
 
 
 Foreign currency transactions
 
451,995
 
 
 Futures contracts
 
6,016,330
 
 
Total net realized gain (loss)
 
 
 
1,208,034,821
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(183,723,377)
 
 
   Fidelity Central Funds
 
(24)
 
 
 Assets and liabilities in foreign currencies
 
5,518
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
(183,717,883)
Net gain (loss)
 
 
 
1,024,316,938
Net increase (decrease) in net assets resulting from operations
 
 
$
1,040,278,938
Statement of Changes in Net Assets
 
 
Six months ended
December 31, 2025
(Unaudited)
 
Year ended
June 30, 2025
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
15,962,000
$
26,749,666
Net realized gain (loss)
 
1,208,034,821
 
1,739,805,867
Change in net unrealized appreciation (depreciation)
 
(183,717,883)
 
(830,051,188)
Net increase (decrease) in net assets resulting from operations
 
1,040,278,938
 
936,504,345
Distributions to shareholders
 
(107,608,837)
 
-
 
 
 
 
 
Share transactions - net increase (decrease)
 
(301,667,625)
 
(685,113,318)
Total increase (decrease) in net assets
 
631,002,476
 
251,391,027
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
8,482,134,315
 
8,230,743,288
End of period
$
9,113,136,791
$
8,482,134,315
 
 
 
 
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Fund
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
101.22
$
90.56
$
69.85
$
58.06
$
72.20
$
54.21
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.19
 
.30
 
.42
 
.44
 
.25
 
.28
     Net realized and unrealized gain (loss)
 
12.22
 
10.36
 
22.08
 
11.74
 
(10.75)
 
19.40
  Total from investment operations
 
12.41  
 
10.66  
 
22.50  
 
12.18  
 
(10.50)
 
19.68
  Distributions from net investment income
 
(.45)
 
-
 
(.49)
 
(.39)
 
(.21)
 
(.32)
  Distributions from net realized gain
 
(.87)
 
-
 
(1.31)
 
-
 
(3.44)
 
(1.38)
     Total distributions
 
(1.32)
 
-
 
(1.79) C
 
(.39)
 
(3.64) C
 
(1.69) C
  Net asset value, end of period
$
112.31
$
101.22
$
90.56
$
69.85
$
58.06
$
72.20
 Total Return D,E
 
12.29
%
 
11.77%
 
32.89%
 
21.06%
 
(15.60)%
 
36.94%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.42% H
 
.42%
 
.45%
 
.46%
 
.45%
 
.47%
    Expenses net of fee waivers, if any
 
.42
% H
 
.42%
 
.44%
 
.46%
 
.45%
 
.47%
    Expenses net of all reductions, if any
 
.42% H
 
.42%
 
.44%
 
.46%
 
.45%
 
.46%
    Net investment income (loss)
 
.35% H
 
.32%
 
.55%
 
.71%
 
.35%
 
.44%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
8,809,048
$
8,184,621
$
7,905,243
$
6,125,431
$
5,467,793
$
6,757,824
    Portfolio turnover rate I
 
53
% H,J
 
31% J
 
25% J
 
43% J
 
39%
 
34% K
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
HAnnualized.
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
JPortfolio turnover rate excludes securities received or delivered in-kind.
KThe portfolio turnover rate does not include the assets acquired in the reorganization.
 
Fidelity® Fund Class K
 
 
Six months ended
December 31, 2025
(Unaudited) 
 
Years ended June 30, 2025 
 
2024  
 
2023 
 
2022 
 
2021   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
101.34
$
90.60
$
69.88
$
58.07
$
72.21
$
54.20
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.24
 
.38
 
.48
 
.50
 
.30
 
.33
     Net realized and unrealized gain (loss)
 
12.24
 
10.36
 
22.09
 
11.74
 
(10.74)
 
19.41
  Total from investment operations
 
12.48  
 
10.74  
 
22.57  
 
12.24  
 
(10.44)
 
19.74
  Distributions from net investment income
 
(.53)
 
-
 
(.55)
 
(.43)
 
(.26)
 
(.35)
  Distributions from net realized gain
 
(.87)
 
-
 
(1.31)
 
-
 
(3.44)
 
(1.38)
     Total distributions
 
(1.41) C
 
-
 
(1.85) C
 
(.43)
 
(3.70)
 
(1.73)
  Net asset value, end of period
$
112.41
$
101.34
$
90.60
$
69.88
$
58.07
$
72.21
 Total Return D,E
 
12.34
%
 
11.85%
 
33.00%
 
21.18%
 
(15.54)%
 
37.07%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.34% H
 
.34%
 
.37%
 
.38%
 
.38%
 
.39%
    Expenses net of fee waivers, if any
 
.34
% H
 
.34%
 
.36%
 
.37%
 
.37%
 
.39%
    Expenses net of all reductions, if any
 
.34% H
 
.34%
 
.36%
 
.37%
 
.37%
 
.38%
    Net investment income (loss)
 
.43% H
 
.40%
 
.63%
 
.79%
 
.43%
 
.52%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
304,089
$
297,513
$
325,500
$
237,320
$
673,876
$
411,377
    Portfolio turnover rate I
 
53
% H,J
 
31% J
 
25% J
 
43% J
 
39%
 
34% K
 
ACalculated based on average shares outstanding during the period.
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
CTotal distributions per share do not sum due to rounding.
DTotal returns for periods of less than one year are not annualized.
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
HAnnualized.
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs), derivatives or securities that mature within one year from acquisition.
JPortfolio turnover rate excludes securities received or delivered in-kind.
KThe portfolio turnover rate does not include the assets acquired in the reorganization.
Notes to Financial Statements
 (Unaudited)
For the period ended December 31, 2025
 
1. Organization.
Fidelity Fund (the Fund) is a fund of Fidelity Hastings Street Trust (the Trust) and is authorized to issue an unlimited number of shares. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. The Fund offers Fidelity Fund and Class K shares, each of which has equal rights as to assets and voting privileges.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. The Fund operates as a single operating segment. The Fund's income, expenses, assets, and performance are regularly monitored and assessed as a whole by the investment adviser and other individuals responsible for oversight functions of the Trust, using the information presented in the financial statements and financial highlights. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments 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 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 service 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 (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. The aggregate value of investments by input level as of December 31, 2025 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
 
Class Allocations and Expenses. Investment income, realized and unrealized capital gains and losses, common expenses of a fund, and certain fund-level expense reductions, if any, are allocated daily on a pro-rata basis to each class based on the relative net assets of each class to the total net assets of a fund. Each class differs with respect to transfer agent and distribution and service plan fees incurred, as applicable. Certain expense reductions may also differ by class, if applicable. For the reporting period, the allocated portion of income and expenses to each class as a percent of its average net assets may vary due to the timing of recording these transactions in relation to fluctuating net assets of the classes. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. The Fund is subject to a tax imposed on capital gains by certain countries in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are declared separately for each class. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, redemptions in-kind and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$3,666,474,042
Gross unrealized depreciation
(77,532,974)
Net unrealized appreciation (depreciation)
$3,588,941,068
Tax cost
$5,469,831,554
 
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end.
 
Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Fund
3,752,763,022
2,319,894,379
 
Unaffiliated Redemptions In-Kind. Unaffiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The total net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Net realized gain or loss on Affiliated Issuers ($)
Net realized gain or loss on Unaffiliated Issuers ($)
Total net realized gain or loss on Investments ($)
Total Proceeds ($)
Fidelity Fund
16,175,685
-
1,016,477,964
1,016,477,964
1,790,557,386
 
Prior Fiscal Year Unaffiliated Redemptions In-Kind. Unaffiliated shareholders that redeemed shares in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Total net realized gain or loss on Investments ($)
Total Proceeds ($)
Fidelity Fund
26,276,518
1,467,282,026
2,399,477,110
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee.
 
The Fund's management contract incorporates a management fee rate that may vary by class. The investment adviser or an affiliate pays certain expenses of managing and operating the Fund out of each class's management fee. Each class of the Fund pays a management fee to the investment adviser. The management fee is calculated and paid to the investment adviser every month. When determining a class's management fee, a mandate rate is calculated based on the monthly average net assets of a group of funds advised by FMR within a designated asset class. A discount rate is subtracted from the mandate rate once the Fund's monthly average net assets reach a certain level. The mandate rate and discount rate may vary by class. The annual management fee rate for a class of shares of the Fund is the lesser of (1) the class's mandate rate reduced by the class's discount rate (if applicable) or (2) the amount set forth in the following table.
 
 
Maximum Management Fee Rate %
Fidelity Fund
.42
Class K
.34
 
One-twelfth of the management fee rate for a class is applied to the average net assets of the class for the month, giving a dollar amount which is the management fee for the class for that month. A different management fee rate may be applicable to each class of the Fund. The difference between classes is the result of separate arrangements for class-level services and/or waivers of certain expenses. It is not the result of any difference in advisory or custodial fees or other expenses related to the management of the Fund's assets, which do not vary by class. For the reporting period, the total annualized management fee rates were as follows:
 
 
Total Management Fee Rate %
Fidelity Fund
.42
Class K
.34
 
Deferred Trustee Compensation. Under a Deferred Compensation Plan (the Plan) for certain Funds, certain independent Trustees have elected to defer receipt of a portion of their annual compensation. Deferred amounts are invested in affiliated mutual funds, are marked-to-market and remain in a fund until distributed in accordance with the Plan. The investment of deferred amounts and the offsetting payable to the Trustees presented below are included in the accompanying Statement of Assets and Liabilities in other receivables and other payables and accrued expenses, as applicable.
 
Fidelity Fund
$26,929
 
Brokerage Commissions. A portion of portfolio transactions were placed with brokerage firms which are affiliates of the investment adviser. Brokerage commissions are included in net realized gain (loss) and change in net unrealized appreciation (depreciation) in the Statement of Operations. The commissions paid to these affiliated firms were as follows:
 
 
Amount ($)
Fidelity Fund
 71,168
 
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds at rates that are beneficial to both the borrowing and lending fund. Borrowings under the program are generally for temporary or emergency purposes, including meeting fund shareholder redemptions. The interfund loan rate is determined, as specified in the Exemptive Order, by averaging, (1) the higher of the overnight time deposit rate and the current overnight repurchase agreement rate, and (2) a benchmark rate representing the lowest bank loan rate available to the funds.  Any open loans, including accrued interest, at period end are presented as Notes payable to affiliates in the Statement of Assets and Liabilities. Activity in this program during the period for which loans were outstanding was as follows:
 
 
Borrower or Lender
Average Loan Balance ($)
Weighted Average Interest Rate
Interest Expense ($)
Fidelity Fund
 Borrower
 12,665,000
4.05%
 4,270
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board of Trustees. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. Interfund trades during the period are noted in the table below.
 
 
Purchases ($)
Sales ($)
Realized Gain (Loss) ($)
Fidelity Fund
 596,856,156
 311,030,456
 23,393,852
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes.
 
Commitment fees are charged based on the unused amount of the line of credit at an annual rate of .10%, and then allocated to each participating fund based on its pro-rata portion of the line of credit. The commitment fees are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below.
 
Interest is charged to a participating fund based on its borrowings at an annual rate of .75% plus the highest of (i) daily SOFR plus a .10% spread adjustment, (ii) Federal Funds Effective Rate, or (iii) Overnight Bank Funding Rate. During the period, there were no borrowings on this line of credit.  
 
The line of credit agreement will expire in March 2026 unless extended or renewed.
 
 
Amount ($)
Fidelity Fund
4,759
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, the borrowers provide collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the fair value of the loaned securities during the period of the loan. The fair value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned or gaining access to non-cash collateral. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral less rebates paid to borrowers, plus any premium income received, or for non-cash collateral, fees received from borrowers as compensation for the securities loaned. Securities lending income is reduced by any lending agent fees associated with the loan. Any security lending income earned on investing cash collateral is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Any security lending income earned on non-cash collateral is presented in the Statement of Operations as a component of dividends. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Fund
7,196
 46
-
9. Distributions to Shareholders.
Distributions to shareholders of each class were as follows:
 
 
Six months ended
December 31, 2025
Year ended
June 30, 2025
Fidelity Fund
 
 
Distributions to shareholders
 
 
Fidelity Fund
$103,761,865
 $ -
Class K
  3,846,972
                 -
Total  
$107,608,837
$ -
10. Share Transactions.
Share transactions for each class were as follows and may contain in-kind transactions, automatic conversions between classes or exchanges between affiliated funds:
 
 
Shares
Shares
Dollars
Dollars
 
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Six months ended
 December 31, 2025
Year ended
 June 30, 2025
Fidelity Fund
 
 
 
 
Fidelity Fund
 
 
 
 
Shares sold
17,013,060
29,228,915
$1,866,946,028
$2,644,849,576
Reinvestment of distributions 
842,256
-
92,963,395
-
Shares redeemed
(20,283,362)
(35,662,230)
(2,236,569,371)
(3,270,137,564)
Net increase (decrease)
(2,428,046)
(6,433,315)
$(276,659,948)
$(625,287,988)
Class K
 
 
 
 
Shares sold
75,104
346,185
$8,041,912
$32,047,616
Reinvestment of distributions 
34,903
-
3,846,972
-
Shares redeemed
(340,497)
(1,003,321)
(36,896,561)
(91,872,946)
Net increase (decrease)
(230,490)
(657,136)
$(25,007,677)
$(59,825,330)
11. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
12. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as public health emergencies, military conflicts, terrorism, government restrictions, political changes, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 9: Proxy Disclosures for Open-End Management Investment Companies
(Unaudited)
Note: This is not applicable for any fund included in this document.
Item 10: Remuneration Paid to Directors, Officers, and others of Open-End Management Investment Companies
(Unaudited)
Note: This information is disclosed as part of the financial statements for each Fund as part of Item 7: Financial Statements and Financial Highlights for Open-End Management Investment Companies.
Item 11: Statement Regarding Basis for Approval of Investment Advisory Contract
(Unaudited)
Note: This is not applicable for any fund included in this document.
 
1.540016.128
FID-SANN-0226

Item 8.

Changes in and Disagreements with Accountants for Open-End Management Investment Companies


See Item 7.


Item 9.

Proxy Disclosures for Open-End Management Investment Companies


See Item 7.


Item 10.

Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies


See Item 7.


Item 11.

Statement Regarding Basis for Approval of Investment Advisory Contract


See Item 7.


Item 12.

Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies


Not applicable.


Item 13.

Portfolio Managers of Closed-End Management Investment Companies


Not applicable.


Item 14.  

Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers


Not applicable.


Item 15.

Submission of Matters to a Vote of Security Holders


There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Hastings Street Trust’s Board of Trustees.


Item 16.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Hastings Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.


Item 17.

Disclosure of Securities Lending Activities for Closed-End Management Investment Companies


Not applicable.


Item 18.

Recovery of Erroneously Awarded Compensation


(a)

Not applicable.


(b)

Not applicable.


Item 19.

Exhibits


(a)

(1)

Not applicable.

(a)

(2)

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

(a)

(3)

Not applicable.

(b)

 

Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.




SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Fidelity Hastings Street Trust



By:

/s/Stacie M. Smith

 

Stacie M. Smith

 

President and Treasurer (Principal Executive Officer)

 

 

Date:

February 20, 2026


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:

/s/Stacie M. Smith

 

Stacie M. Smith

 

President and Treasurer (Principal Executive Officer)

 

 

Date:

February 20, 2026



By:

/s/Stephanie Caron

 

Stephanie Caron

 

Chief Financial Officer (Principal Financial Officer)

 

 

Date:

February 20, 2026

 





                                                      Exhibit EX-99.CERT

     

I, Stacie M. Smith, certify that:



1.

I have reviewed this report on Form N-CSR of Fidelity Hastings Street Trust;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.



Date:

 February 20, 2026

/s/Stacie M. Smith

Stacie M. Smith

President and Treasurer (Principal Executive Officer)









I, Stephanie Caron, certify that:

1.

I have reviewed this report on Form N-CSR of Fidelity Hastings Street Trust;

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.

The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.



Date:

February 20, 2026

/s/Stephanie Caron

Stephanie Caron

Chief Financial Officer (Principal Financial Officer)













Exhibit EX-99.906CERT





Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code)



In connection with the attached Report of Fidelity Hastings Street Trust (the “Trust”) on Form N-CSR to be filed with the Securities and Exchange Commission (the “Report”), each of the undersigned officers of the Trust does hereby certify that, to the best of such officer’s knowledge:



1.

The Report fully complies with the requirements of 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.

The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Trust as of, and for, the periods presented in the Report.



Dated: February 20, 2026





/s/Stacie M. Smith

Stacie M. Smith

President and Treasurer (Principal Executive Officer)





 

Dated: February 20, 2026





/s/Stephanie Caron

Stephanie Caron

Chief Financial Officer (Principal Financial Officer)







A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Trust and will be retained by the Trust and furnished to the Securities and Exchange Commission or its staff upon request.







v3.25.4
Form N-CSR Cover
6 Months Ended
Dec. 31, 2025
Shareholder Report [Line Items]  
Document Type N-CSRS
Amendment Flag false
Registrant Name Fidelity Hastings Street Trust
Entity Central Index Key 0000035348
Entity Investment Company Type N-1A
Document Period End Date Dec. 31, 2025

v3.25.4
Shareholder Report
6 Months Ended
Dec. 31, 2025
USD ($)
shares
Shareholder Report [Line Items]  
Document Type N-CSRS
Amendment Flag false
Registrant Name Fidelity Hastings Street Trust
Entity Central Index Key 0000035348
Entity Investment Company Type N-1A
Document Period End Date Dec. 31, 2025
Fidelity Series Large Cap Stock Fund  
Shareholder Report [Line Items]  
Fund Name Fidelity® Series Large Cap Stock Fund
Class Name Fidelity® Series Large Cap Stock Fund
Trading Symbol FGLGX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Series Large Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544.
Additional Information Phone Number 1-800-544-8544
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Series Large Cap Stock Fund 
$ 0 A
0.00%B
 
A Amount represents less than $.50
B Amount represents less than 0.005%
 
Expenses Paid, Amount $ 0
Expense Ratio, Percent 0.00%
Net Assets $ 24,355,496,025
Holdings Count | shares 181
Investment Company Portfolio Turnover 20.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$24,355,496,025
 
Number of Holdings
181
 
Portfolio Turnover
20%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 24.1   Industrials 18.3   Financials 15.1   Communication Services 10.6   Health Care 10.5   Energy 8.2   Consumer Staples 4.6   Consumer Discretionary 3.5   Materials 2.0   Utilities 1.0   Real Estate 0.4     Common Stocks 98.2 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 1.7 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 98.2                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 1.7   United States 91.0 Canada 2.0 Zambia 1.3 Belgium 1.2 United Kingdom 1.2 Germany 0.8 Taiwan 0.7 Netherlands 0.7 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.0                       Canada - 2.0                               Zambia - 1.3                               Belgium - 1.2                              United Kingdom - 1.2                       Germany - 0.8                              Taiwan - 0.7                               Netherlands - 0.7                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 7.5   Microsoft Corp 6.1   Wells Fargo & Co 5.6   Boeing Co 5.0   GE Aerospace 4.5   GE Vernova Inc 4.0   Exxon Mobil Corp 3.7   Alphabet Inc Class A 3.4   Bank of America Corp 2.9   Alphabet Inc Class C 2.9     45.6  
Fidelity Mega Cap Stock Fund  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity® Mega Cap Stock Fund
Trading Symbol FGRTX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-800-544-8544
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Mega Cap Stock Fund 
$ 31 
0.58%
 
Expenses Paid, Amount $ 31
Expense Ratio, Percent 0.58%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Advisor Mega Cap Stock Fund - Class Z  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity Advisor® Mega Cap Stock Fund Class Z
Trading Symbol FZALX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-877-208-0098
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class Z 
$ 25 
0.47%
 
Expenses Paid, Amount $ 25
Expense Ratio, Percent 0.47%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Advisor Mega Cap Stock Fund - Class M  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity Advisor® Mega Cap Stock Fund Class M
Trading Symbol FTGRX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-877-208-0098
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class M 
$ 60 
1.11%
 
Expenses Paid, Amount $ 60
Expense Ratio, Percent 1.11%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Advisor Mega Cap Stock Fund - Class I  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity Advisor® Mega Cap Stock Fund Class I
Trading Symbol FTRIX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-877-208-0098
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class I 
$ 32 
0.59%
 
Expenses Paid, Amount $ 32
Expense Ratio, Percent 0.59%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Advisor Mega Cap Stock Fund - Class C  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity Advisor® Mega Cap Stock Fund Class C
Trading Symbol FGRCX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-877-208-0098
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class C 
$ 87 
1.63%
 
Expenses Paid, Amount $ 87
Expense Ratio, Percent 1.63%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Advisor Mega Cap Stock Fund - Class A  
Shareholder Report [Line Items]  
Fund Name Fidelity® Mega Cap Stock Fund
Class Name Fidelity Advisor® Mega Cap Stock Fund Class A
Trading Symbol FGTAX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Mega Cap Stock Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-877-208-0098
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class A 
$ 46 
0.86%
 
Expenses Paid, Amount $ 46
Expense Ratio, Percent 0.86%
Net Assets $ 5,766,775,973
Holdings Count | shares 116
Investment Company Portfolio Turnover 10.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$5,766,775,973
 
Number of Holdings
116
 
Portfolio Turnover
10%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 26.1   Industrials 15.6   Financials 13.2   Communication Services 11.1   Energy 8.1   Health Care 8.1   Consumer Staples 5.0   Consumer Discretionary 4.1   Materials 0.9   Utilities 0.7   Real Estate 0.3     Common Stocks 93.2 Short-Term Investments and Net Other Assets (Liabilities) 6.8 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 93.2                       Short-Term Investments and Net Other Assets (Liabilities) - 6.8   United States 92.6 Canada 1.4 United Kingdom 1.2 Taiwan 1.1 Zambia 0.8 Belgium 0.7 Germany 0.6 Netherlands 0.5 France 0.4 Others 0.7 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 92.6                       Canada - 1.4                               United Kingdom - 1.2                       Taiwan - 1.1                               Zambia - 0.8                               Belgium - 0.7                              Germany - 0.6                              Netherlands - 0.5                          France - 0.4                               Others - 0.7                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 8.3   Microsoft Corp 6.5   Boeing Co 5.1   Wells Fargo & Co 4.8   GE Aerospace 4.1   GE Vernova Inc 3.8   Alphabet Inc Class A 3.8   Exxon Mobil Corp 3.6   Apple Inc 3.4   Alphabet Inc Class C 3.2     46.6  
Fidelity Growth Discovery Fund  
Shareholder Report [Line Items]  
Fund Name Fidelity® Growth Discovery Fund
Class Name Fidelity® Growth Discovery Fund
Trading Symbol FDSVX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Growth Discovery Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-800-544-8544
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Growth Discovery Fund 
$ 25 
0.47%
 
Expenses Paid, Amount $ 25
Expense Ratio, Percent 0.47%
Net Assets $ 6,416,410,117
Holdings Count | shares 144
Investment Company Portfolio Turnover 78.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$6,416,410,117
 
Number of Holdings
144
 
Portfolio Turnover
78%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 45.8   Communication Services 13.5   Consumer Discretionary 11.3   Financials 8.2   Health Care 8.1   Industrials 7.4   Materials 2.0   Consumer Staples 1.5   Utilities 0.9   Real Estate 0.6   Energy 0.5     Common Stocks 99.0 Preferred Stocks 0.8 Preferred Securities 0.0 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.0                       Preferred Stocks - 0.8                     Preferred Securities - 0.0                 Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 0.2   United States 91.1 Taiwan 2.9 Canada 1.7 China 1.0 Korea (South) 1.0 Belgium 0.9 Netherlands 0.4 Germany 0.4 Brazil 0.4 Others 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.1                       Taiwan - 2.9                               Canada - 1.7                               China - 1.0                                Korea (South) - 1.0                        Belgium - 0.9                              Netherlands - 0.4                          Germany - 0.4                              Brazil - 0.4                               Others - 0.2                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 13.5   Microsoft Corp 10.0   Alphabet Inc Class A 6.6   Apple Inc 5.4   Amazon.com Inc 5.2   Broadcom Inc 4.8   Meta Platforms Inc Class A 4.1   Mastercard Inc Class A 3.6   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.9   Eli Lilly & Co 2.6     58.7  
Fidelity Growth Discovery Fund - Class K  
Shareholder Report [Line Items]  
Fund Name Fidelity® Growth Discovery Fund
Class Name Fidelity® Growth Discovery Fund Class K
Trading Symbol FGDKX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Growth Discovery Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-800-835-5092
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class K 
$ 21 
0.40%
 
Expenses Paid, Amount $ 21
Expense Ratio, Percent 0.40%
Net Assets $ 6,416,410,117
Holdings Count | shares 144
Investment Company Portfolio Turnover 78.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$6,416,410,117
 
Number of Holdings
144
 
Portfolio Turnover
78%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 45.8   Communication Services 13.5   Consumer Discretionary 11.3   Financials 8.2   Health Care 8.1   Industrials 7.4   Materials 2.0   Consumer Staples 1.5   Utilities 0.9   Real Estate 0.6   Energy 0.5     Common Stocks 99.0 Preferred Stocks 0.8 Preferred Securities 0.0 Bonds 0.0 Short-Term Investments and Net Other Assets (Liabilities) 0.2 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.0                       Preferred Stocks - 0.8                     Preferred Securities - 0.0                 Bonds - 0.0                                Short-Term Investments and Net Other Assets (Liabilities) - 0.2   United States 91.1 Taiwan 2.9 Canada 1.7 China 1.0 Korea (South) 1.0 Belgium 0.9 Netherlands 0.4 Germany 0.4 Brazil 0.4 Others 0.2 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 91.1                       Taiwan - 2.9                               Canada - 1.7                               China - 1.0                                Korea (South) - 1.0                        Belgium - 0.9                              Netherlands - 0.4                          Germany - 0.4                              Brazil - 0.4                               Others - 0.2                                  
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 13.5   Microsoft Corp 10.0   Alphabet Inc Class A 6.6   Apple Inc 5.4   Amazon.com Inc 5.2   Broadcom Inc 4.8   Meta Platforms Inc Class A 4.1   Mastercard Inc Class A 3.6   Taiwan Semiconductor Manufacturing Co Ltd ADR 2.9   Eli Lilly & Co 2.6     58.7  
Fidelity Fund  
Shareholder Report [Line Items]  
Fund Name Fidelity® Fund
Class Name Fidelity® Fund
Trading Symbol FFIDX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-800-544-8544
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Fidelity® Fund 
$ 23 
0.42%
 
Expenses Paid, Amount $ 23
Expense Ratio, Percent 0.42%
Net Assets $ 9,113,136,791
Holdings Count | shares 88
Investment Company Portfolio Turnover 53.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$9,113,136,791
 
Number of Holdings
88
 
Portfolio Turnover
53%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 24.8   Communication Services 16.9   Financials 16.0   Consumer Discretionary 12.6   Health Care 11.0   Industrials 8.3   Consumer Staples 4.9   Energy 2.8   Materials 0.9   Utilities 0.7   Real Estate 0.5     Common Stocks 99.3 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.6 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 0.6   United States 97.9 Canada 1.0 Belgium 0.4 United Kingdom 0.4 Netherlands 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.9                       Canada - 1.0                               Belgium - 0.4                              United Kingdom - 0.4                       Netherlands - 0.3                             
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 9.5   Alphabet Inc Class A 9.2   Microsoft Corp 7.3   Amazon.com Inc 5.6   Meta Platforms Inc Class A 5.0   Apple Inc 4.2   Bank of America Corp 3.3   Mastercard Inc Class A 3.2   Wells Fargo & Co 3.1   Coca-Cola Co/The 2.9     53.3  
Fidelity Fund - Class K  
Shareholder Report [Line Items]  
Fund Name Fidelity® Fund
Class Name Fidelity® Fund Class K
Trading Symbol FFDKX
Annual or Semi-Annual Statement [Text Block] This semi-annual shareholder report contains information about Fidelity® Fund for the period July 1, 2025 to December 31, 2025.
Shareholder Report Annual or Semi-Annual semi-annual shareholder report
Additional Information [Text Block] You can find additional information about the Fund at fundresearch.fidelity.com/prospectus/sec. You can also request this information by contacting us at 1-800-835-5092 or by sending an e-mail to fidfunddocuments@fidelity.com.
Additional Information Phone Number 1-800-835-5092
Additional Information Email fidfunddocuments@fidelity.com
Additional Information Website fundresearch.fidelity.com/prospectus/sec
Expenses [Text Block] What were your Fund costs for the last six months?
(based on hypothetical $10,000 investment)
 
 
 
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment
 
Class K 
$ 18 
0.34%
 
Expenses Paid, Amount $ 18
Expense Ratio, Percent 0.34%
Net Assets $ 9,113,136,791
Holdings Count | shares 88
Investment Company Portfolio Turnover 53.00%
Additional Fund Statistics [Text Block] Key Fund Statistics
(as of December 31, 2025)
 
KEY FACTS 
 
 
Fund Size
$9,113,136,791
 
Number of Holdings
88
 
Portfolio Turnover
53%
 
Holdings [Text Block]       MARKET SECTORS (% of Fund's net assets)     Information Technology 24.8   Communication Services 16.9   Financials 16.0   Consumer Discretionary 12.6   Health Care 11.0   Industrials 8.3   Consumer Staples 4.9   Energy 2.8   Materials 0.9   Utilities 0.7   Real Estate 0.5     Common Stocks 99.3 Preferred Stocks 0.1 Short-Term Investments and Net Other Assets (Liabilities) 0.6 ASSET ALLOCATION (% of Fund's net assets)     Common Stocks - 99.3                       Preferred Stocks - 0.1                     Short-Term Investments and Net Other Assets (Liabilities) - 0.6   United States 97.9 Canada 1.0 Belgium 0.4 United Kingdom 0.4 Netherlands 0.3 GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets)     United States - 97.9                       Canada - 1.0                               Belgium - 0.4                              United Kingdom - 0.4                       Netherlands - 0.3                             
Largest Holdings [Text Block] TOP HOLDINGS(% of Fund's net assets)     NVIDIA Corp 9.5   Alphabet Inc Class A 9.2   Microsoft Corp 7.3   Amazon.com Inc 5.6   Meta Platforms Inc Class A 5.0   Apple Inc 4.2   Bank of America Corp 3.3   Mastercard Inc Class A 3.2   Wells Fargo & Co 3.1   Coca-Cola Co/The 2.9     53.3  

v3.25.4
Shareholder Report, Holdings (Details)
Dec. 31, 2025
Fidelity Series Large Cap Stock Fund | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 7.50%
Fidelity Series Large Cap Stock Fund | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.10%
Fidelity Series Large Cap Stock Fund | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.60%
Fidelity Series Large Cap Stock Fund | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Series Large Cap Stock Fund | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.50%
Fidelity Series Large Cap Stock Fund | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.00%
Fidelity Series Large Cap Stock Fund | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.70%
Fidelity Series Large Cap Stock Fund | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Series Large Cap Stock Fund | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Series Large Cap Stock Fund | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Series Large Cap Stock Fund | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 15.10%
Fidelity Series Large Cap Stock Fund | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 24.10%
Fidelity Series Large Cap Stock Fund | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 10.50%
Fidelity Series Large Cap Stock Fund | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Series Large Cap Stock Fund | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 18.30%
Fidelity Series Large Cap Stock Fund | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.00%
Fidelity Series Large Cap Stock Fund | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.50%
Fidelity Series Large Cap Stock Fund | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.60%
Fidelity Series Large Cap Stock Fund | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 10.60%
Fidelity Series Large Cap Stock Fund | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.20%
Fidelity Series Large Cap Stock Fund | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Series Large Cap Stock Fund | United States  
Holdings [Line Items]  
Percent of Net Asset Value 91.00%
Fidelity Series Large Cap Stock Fund | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 2.00%
Fidelity Series Large Cap Stock Fund | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 1.30%
Fidelity Series Large Cap Stock Fund | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Series Large Cap Stock Fund | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Series Large Cap Stock Fund | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Series Large Cap Stock Fund | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Series Large Cap Stock Fund | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Series Large Cap Stock Fund | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Series Large Cap Stock Fund | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Series Large Cap Stock Fund | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 98.20%
Fidelity Series Large Cap Stock Fund | AAPreferredStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.10%
Fidelity Series Large Cap Stock Fund | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 1.70%
Fidelity Mega Cap Stock Fund | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Mega Cap Stock Fund | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Mega Cap Stock Fund | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Mega Cap Stock Fund | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Mega Cap Stock Fund | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Mega Cap Stock Fund | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Mega Cap Stock Fund | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Mega Cap Stock Fund | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Mega Cap Stock Fund | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Mega Cap Stock Fund | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Mega Cap Stock Fund | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Mega Cap Stock Fund | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Mega Cap Stock Fund | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Mega Cap Stock Fund | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Mega Cap Stock Fund | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Mega Cap Stock Fund | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Mega Cap Stock Fund | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Mega Cap Stock Fund | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Mega Cap Stock Fund | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Mega Cap Stock Fund | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Mega Cap Stock Fund | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Mega Cap Stock Fund | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Mega Cap Stock Fund | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Mega Cap Stock Fund | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Mega Cap Stock Fund | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Mega Cap Stock Fund | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Mega Cap Stock Fund | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Mega Cap Stock Fund | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Mega Cap Stock Fund | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Mega Cap Stock Fund | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Mega Cap Stock Fund | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Mega Cap Stock Fund | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Mega Cap Stock Fund | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Advisor Mega Cap Stock Fund - Class Z | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Advisor Mega Cap Stock Fund - Class Z | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class Z | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class Z | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Advisor Mega Cap Stock Fund - Class Z | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Advisor Mega Cap Stock Fund - Class Z | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Advisor Mega Cap Stock Fund - Class Z | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class Z | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Advisor Mega Cap Stock Fund - Class Z | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Advisor Mega Cap Stock Fund - Class M | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Advisor Mega Cap Stock Fund - Class M | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Advisor Mega Cap Stock Fund - Class M | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Advisor Mega Cap Stock Fund - Class M | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Advisor Mega Cap Stock Fund - Class M | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Advisor Mega Cap Stock Fund - Class M | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Advisor Mega Cap Stock Fund - Class M | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class M | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Advisor Mega Cap Stock Fund - Class M | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Advisor Mega Cap Stock Fund - Class M | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Advisor Mega Cap Stock Fund - Class M | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class M | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Advisor Mega Cap Stock Fund - Class M | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Advisor Mega Cap Stock Fund - Class M | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Advisor Mega Cap Stock Fund - Class M | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Advisor Mega Cap Stock Fund - Class M | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Advisor Mega Cap Stock Fund - Class M | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class M | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Advisor Mega Cap Stock Fund - Class M | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Advisor Mega Cap Stock Fund - Class I | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Advisor Mega Cap Stock Fund - Class I | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Advisor Mega Cap Stock Fund - Class I | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Advisor Mega Cap Stock Fund - Class I | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Advisor Mega Cap Stock Fund - Class I | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Advisor Mega Cap Stock Fund - Class I | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Advisor Mega Cap Stock Fund - Class I | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class I | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Advisor Mega Cap Stock Fund - Class I | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Advisor Mega Cap Stock Fund - Class I | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Advisor Mega Cap Stock Fund - Class I | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class I | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Advisor Mega Cap Stock Fund - Class I | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Advisor Mega Cap Stock Fund - Class I | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Advisor Mega Cap Stock Fund - Class I | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Advisor Mega Cap Stock Fund - Class I | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Advisor Mega Cap Stock Fund - Class I | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class I | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Advisor Mega Cap Stock Fund - Class I | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Advisor Mega Cap Stock Fund - Class C | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Advisor Mega Cap Stock Fund - Class C | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Advisor Mega Cap Stock Fund - Class C | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Advisor Mega Cap Stock Fund - Class C | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Advisor Mega Cap Stock Fund - Class C | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Advisor Mega Cap Stock Fund - Class C | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Advisor Mega Cap Stock Fund - Class C | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class C | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Advisor Mega Cap Stock Fund - Class C | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Advisor Mega Cap Stock Fund - Class C | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Advisor Mega Cap Stock Fund - Class C | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class C | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Advisor Mega Cap Stock Fund - Class C | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Advisor Mega Cap Stock Fund - Class C | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Advisor Mega Cap Stock Fund - Class C | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Advisor Mega Cap Stock Fund - Class C | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Advisor Mega Cap Stock Fund - Class C | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class C | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Advisor Mega Cap Stock Fund - Class C | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.50%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.80%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.40%
Fidelity Advisor Mega Cap Stock Fund - Class A | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Advisor Mega Cap Stock Fund - Class A | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 13.20%
Fidelity Advisor Mega Cap Stock Fund - Class A | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 26.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Advisor Mega Cap Stock Fund - Class A | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 15.60%
Fidelity Advisor Mega Cap Stock Fund - Class A | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Advisor Mega Cap Stock Fund - Class A | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Advisor Mega Cap Stock Fund - Class A | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class A | United States  
Holdings [Line Items]  
Percent of Net Asset Value 92.60%
Fidelity Advisor Mega Cap Stock Fund - Class A | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.40%
Fidelity Advisor Mega Cap Stock Fund - Class A | Zambia  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Advisor Mega Cap Stock Fund - Class A | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class A | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 1.20%
Fidelity Advisor Mega Cap Stock Fund - Class A | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Advisor Mega Cap Stock Fund - Class A | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 1.10%
Fidelity Advisor Mega Cap Stock Fund - Class A | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Advisor Mega Cap Stock Fund - Class A | France  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Advisor Mega Cap Stock Fund - Class A | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Advisor Mega Cap Stock Fund - Class A | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 93.20%
Fidelity Advisor Mega Cap Stock Fund - Class A | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 6.80%
Fidelity Growth Discovery Fund | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 13.50%
Fidelity Growth Discovery Fund | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 10.00%
Fidelity Growth Discovery Fund | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.60%
Fidelity Growth Discovery Fund | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.40%
Fidelity Growth Discovery Fund | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.20%
Fidelity Growth Discovery Fund | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Growth Discovery Fund | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Growth Discovery Fund | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Growth Discovery Fund | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Growth Discovery Fund | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.60%
Fidelity Growth Discovery Fund | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 8.20%
Fidelity Growth Discovery Fund | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 45.80%
Fidelity Growth Discovery Fund | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Growth Discovery Fund | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Growth Discovery Fund | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 7.40%
Fidelity Growth Discovery Fund | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.00%
Fidelity Growth Discovery Fund | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.30%
Fidelity Growth Discovery Fund | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 1.50%
Fidelity Growth Discovery Fund | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 13.50%
Fidelity Growth Discovery Fund | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Growth Discovery Fund | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Growth Discovery Fund | United States  
Holdings [Line Items]  
Percent of Net Asset Value 91.10%
Fidelity Growth Discovery Fund | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.70%
Fidelity Growth Discovery Fund | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Growth Discovery Fund | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Growth Discovery Fund | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.20%
Fidelity Growth Discovery Fund | China  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Growth Discovery Fund | Korea, Republic of  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Growth Discovery Fund | Brazil  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 99.00%
Fidelity Growth Discovery Fund | AAPreferredStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Growth Discovery Fund | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.20%
Fidelity Growth Discovery Fund | AAPreferredSecuritiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.00%
Fidelity Growth Discovery Fund | AABondsMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.00%
Fidelity Growth Discovery Fund - Class K | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 13.50%
Fidelity Growth Discovery Fund - Class K | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 10.00%
Fidelity Growth Discovery Fund - Class K | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 6.60%
Fidelity Growth Discovery Fund - Class K | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.40%
Fidelity Growth Discovery Fund - Class K | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.20%
Fidelity Growth Discovery Fund - Class K | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.80%
Fidelity Growth Discovery Fund - Class K | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.10%
Fidelity Growth Discovery Fund - Class K | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.60%
Fidelity Growth Discovery Fund - Class K | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Growth Discovery Fund - Class K | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.60%
Fidelity Growth Discovery Fund - Class K | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 8.20%
Fidelity Growth Discovery Fund - Class K | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 45.80%
Fidelity Growth Discovery Fund - Class K | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 8.10%
Fidelity Growth Discovery Fund - Class K | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Growth Discovery Fund - Class K | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 7.40%
Fidelity Growth Discovery Fund - Class K | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.00%
Fidelity Growth Discovery Fund - Class K | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 11.30%
Fidelity Growth Discovery Fund - Class K | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 1.50%
Fidelity Growth Discovery Fund - Class K | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 13.50%
Fidelity Growth Discovery Fund - Class K | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Growth Discovery Fund - Class K | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Growth Discovery Fund - Class K | United States  
Holdings [Line Items]  
Percent of Net Asset Value 91.10%
Fidelity Growth Discovery Fund - Class K | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.70%
Fidelity Growth Discovery Fund - Class K | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Growth Discovery Fund - Class K | Germany  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund - Class K | Taiwan  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Growth Discovery Fund - Class K | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund - Class K | OtherMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.20%
Fidelity Growth Discovery Fund - Class K | China  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Growth Discovery Fund - Class K | Korea, Republic of  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Growth Discovery Fund - Class K | Brazil  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Growth Discovery Fund - Class K | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 99.00%
Fidelity Growth Discovery Fund - Class K | AAPreferredStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.80%
Fidelity Growth Discovery Fund - Class K | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.20%
Fidelity Growth Discovery Fund - Class K | AAPreferredSecuritiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.00%
Fidelity Growth Discovery Fund - Class K | AABondsMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.00%
Fidelity Fund | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 9.50%
Fidelity Fund | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 9.20%
Fidelity Fund | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 7.30%
Fidelity Fund | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.60%
Fidelity Fund | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Fund | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.20%
Fidelity Fund | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.30%
Fidelity Fund | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Fund | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.10%
Fidelity Fund | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Fund | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 16.00%
Fidelity Fund | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 24.80%
Fidelity Fund | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 11.00%
Fidelity Fund | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Fund | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Fund | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Fund | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 12.60%
Fidelity Fund | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.90%
Fidelity Fund | Communications Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 16.90%
Fidelity Fund | Energy Sector  
Holdings [Line Items]  
Percent of Net Asset Value 2.80%
Fidelity Fund | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Fund | United States  
Holdings [Line Items]  
Percent of Net Asset Value 97.90%
Fidelity Fund | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Fund | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Fund | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Fund | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Fund | AACommonStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 99.30%
Fidelity Fund | AAPreferredStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.10%
Fidelity Fund | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%
Fidelity Fund - Class K | TH0Member  
Holdings [Line Items]  
Percent of Net Asset Value 9.50%
Fidelity Fund - Class K | TH1Member  
Holdings [Line Items]  
Percent of Net Asset Value 9.20%
Fidelity Fund - Class K | TH2Member  
Holdings [Line Items]  
Percent of Net Asset Value 7.30%
Fidelity Fund - Class K | TH3Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.60%
Fidelity Fund - Class K | TH4Member  
Holdings [Line Items]  
Percent of Net Asset Value 5.00%
Fidelity Fund - Class K | TH5Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.20%
Fidelity Fund - Class K | TH6Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.30%
Fidelity Fund - Class K | TH7Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.20%
Fidelity Fund - Class K | TH8Member  
Holdings [Line Items]  
Percent of Net Asset Value 3.10%
Fidelity Fund - Class K | TH9Member  
Holdings [Line Items]  
Percent of Net Asset Value 2.90%
Fidelity Fund - Class K | MSFinancialsSectorMember  
Holdings [Line Items]  
Percent of Net Asset Value 16.00%
Fidelity Fund - Class K | Information Technology Member  
Holdings [Line Items]  
Percent of Net Asset Value 24.80%
Fidelity Fund - Class K | Healthcare Sector  
Holdings [Line Items]  
Percent of Net Asset Value 11.00%
Fidelity Fund - Class K | Real Estate Sector  
Holdings [Line Items]  
Percent of Net Asset Value 0.50%
Fidelity Fund - Class K | Industrial Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 8.30%
Fidelity Fund - Class K | Materials Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.90%
Fidelity Fund - Class K | Consumer Discretionary Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 12.60%
Fidelity Fund - Class K | Consumer Staples Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 4.90%
Fidelity Fund - Class K | Communications Sector Member  
Holdings [Line Items]  
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Fidelity Fund - Class K | Energy Sector  
Holdings [Line Items]  
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Fidelity Fund - Class K | Utilities Sector Member  
Holdings [Line Items]  
Percent of Net Asset Value 0.70%
Fidelity Fund - Class K | United States  
Holdings [Line Items]  
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Fidelity Fund - Class K | Canada  
Holdings [Line Items]  
Percent of Net Asset Value 1.00%
Fidelity Fund - Class K | Belgium  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Fund - Class K | United Kingdom  
Holdings [Line Items]  
Percent of Net Asset Value 0.40%
Fidelity Fund - Class K | Netherlands  
Holdings [Line Items]  
Percent of Net Asset Value 0.30%
Fidelity Fund - Class K | AACommonStocksMember  
Holdings [Line Items]  
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Fidelity Fund - Class K | AAPreferredStocksMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.10%
Fidelity Fund - Class K | AAShortTermInvestmentsandNetOtherAssetsLiabilitiesMember  
Holdings [Line Items]  
Percent of Net Asset Value 0.60%

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