N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-1400

Fidelity Contrafund
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices)       (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:

December 31

 

 

Date of reporting period:

September 30, 2011

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Advisor New Insights Fund
Class A
Class T
Class B
Class C
Institutional Class

September 30, 2011

1.808768.107
ANIF-QTLY-1111

Investments September 30, 2011 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 92.0%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 20.5%

Auto Components - 0.2%

Autoliv, Inc.

57,600

$ 2,794

Gentex Corp.

644,900

15,510

TRW Automotive Holdings Corp. (a)

430,900

14,103

 

32,407

Automobiles - 0.4%

Hyundai Motor Co.

209,782

36,579

Tesla Motors, Inc. (a)(d)

769,500

18,768

 

55,347

Diversified Consumer Services - 0.3%

Anhanguera Educacional Participacoes SA

375,544

4,832

Kroton Educacional SA unit (a)

368,900

3,520

New Oriental Education & Technology Group, Inc. sponsored ADR (a)

1,109,200

25,478

Weight Watchers International, Inc.

261,600

15,238

 

49,068

Hotels, Restaurants & Leisure - 6.5%

Ajisen (China) Holdings Ltd.

2,941,000

3,364

Arcos Dorados Holdings, Inc.

705,600

16,363

Buffalo Wild Wings, Inc. (a)

213,667

12,777

Chipotle Mexican Grill, Inc. (a)

583,428

176,750

Ctrip.com International Ltd. sponsored ADR (a)

302,900

9,741

Dunkin' Brands Group, Inc. (a)(d)

503,000

13,933

Galaxy Entertainment Group Ltd. (a)

8,197,000

11,909

Hyatt Hotels Corp. Class A (a)

48,800

1,531

InterContinental Hotel Group PLC

50,500

819

Las Vegas Sands Corp. (a)

894,322

34,288

Little Sheep Group Ltd.

3,289,000

2,361

McDonald's Corp.

5,191,752

455,940

Paradise Co. Ltd.

310,061

2,160

Red Robin Gourmet Burgers, Inc. (a)

96,200

2,317

Shangri-La Asia Ltd.

672,000

1,285

Starbucks Corp.

2,999,182

111,839

Tim Hortons, Inc.

34,100

1,578

Tim Hortons, Inc. (Canada)

2,742,700

127,441

Wyndham Worldwide Corp.

110,400

3,148

Wynn Resorts Ltd.

250,400

28,816

 

1,018,360

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Household Durables - 0.2%

SodaStream International Ltd.

145,200

$ 4,799

Tempur-Pedic International, Inc. (a)

571,525

30,068

 

34,867

Internet & Catalog Retail - 3.1%

Amazon.com, Inc. (a)

1,560,000

337,319

ASOS PLC (a)

445,581

10,585

HomeAway, Inc. (d)

44,400

1,493

Liberty Media Corp. Interactive Series A (a)

306,300

4,524

Netflix, Inc. (a)

24,200

2,738

Ocado Group PLC (a)(d)

4,956,900

7,306

Priceline.com, Inc. (a)

271,800

122,163

Start Today Co. Ltd.

150,400

3,259

 

489,387

Leisure Equipment & Products - 0.0%

Mattel, Inc.

186,200

4,821

Polaris Industries, Inc.

31,600

1,579

 

6,400

Media - 3.1%

DIRECTV (a)

1,300,156

54,932

Discovery Communications, Inc. (a)

3,523,800

132,565

Legend Pictures LLC (a)(g)(h)

5,533

4,150

Liberty Media Corp. Capital Series A (a)

127,132

8,406

Naspers Ltd. Class N

15,928

692

Scripps Networks Interactive, Inc. Class A

877,300

32,609

The Walt Disney Co.

8,436,280

254,438

Weinstein Co. Holdings LLC Class A-1 (a)(g)(h)

2,267

850

 

488,642

Multiline Retail - 1.2%

Dollar General Corp. (a)

134,400

5,075

Dollar Tree, Inc. (a)

2,163,309

162,486

Dollarama, Inc.

285,400

9,883

Dollarama, Inc. (a)(f)

229,600

7,950

Macy's, Inc.

247,900

6,525

Maoye International Holdings Ltd.

3,353,000

693

Marisa Lojas SA

208,500

2,404

Springland International Holdings Ltd.

83,000

54

 

195,070

Specialty Retail - 3.3%

AutoZone, Inc. (a)

87,100

27,801

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Bed Bath & Beyond, Inc. (a)

1,503,400

$ 86,160

Belle International Holdings Ltd.

1,583,000

2,729

Cia.Hering SA

75,500

1,261

Dick's Sporting Goods, Inc. (a)

178,100

5,959

DSW, Inc. Class A

43,569

2,012

Foschini Ltd.

267,100

2,808

GNC Holdings, Inc.

293,700

5,909

L'Occitane Ltd. (a)

1,312,000

2,643

Limited Brands, Inc.

482,500

18,581

O'Reilly Automotive, Inc. (a)

253,000

16,857

Penske Automotive Group, Inc.

139,700

2,235

Ross Stores, Inc.

982,450

77,309

Sa Sa International Holdings Ltd.

2,074,000

1,230

Sally Beauty Holdings, Inc. (a)

196,546

3,263

TJX Companies, Inc.

4,310,500

239,103

Tractor Supply Co.

33,400

2,089

Ulta Salon, Cosmetics & Fragrance, Inc. (a)

214,602

13,355

Vitamin Shoppe, Inc. (a)

292,435

10,949

 

522,253

Textiles, Apparel & Luxury Goods - 2.2%

Arezzo Industria e Comercio SA

44,000

444

Burberry Group PLC

1,578,800

28,910

China Hongxing Sports Ltd.

6,000,000

528

Deckers Outdoor Corp. (a)

100

9

Hanesbrands, Inc. (a)

116,800

2,921

lululemon athletica, Inc. (a)

154,000

7,492

NIKE, Inc. Class B

2,551,800

218,204

PVH Corp.

123,216

7,176

Ralph Lauren Corp.

169,951

22,043

Under Armour, Inc. Class A (sub. vtg.) (a)

337,000

22,380

Vera Bradley, Inc.

19,800

714

VF Corp.

251,800

30,599

 

341,420

TOTAL CONSUMER DISCRETIONARY

3,233,221

CONSUMER STAPLES - 7.3%

Beverages - 2.9%

Anheuser-Busch InBev SA NV ADR

221,300

11,724

Coca-Cola Icecek AS

259,000

3,526

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Beverages - continued

Dr Pepper Snapple Group, Inc.

376,300

$ 14,593

Hansen Natural Corp. (a)

56,400

4,923

The Coca-Cola Co.

6,295,987

425,357

Tsingtao Brewery Co. Ltd. (H Shares)

524,000

2,876

 

462,999

Food & Staples Retailing - 0.7%

Bim Birlesik Magazalar A/S JSC

243,000

6,733

C.P. Seven Eleven PCL (For. Reg.)

1,145,300

1,745

Costco Wholesale Corp.

889,300

73,029

Droga Raia SA

241,000

3,293

Eurocash SA

170,900

1,223

Shoprite Holdings Ltd.

217,600

3,057

Wal-Mart Stores, Inc.

29,200

1,515

Whole Foods Market, Inc.

331,600

21,657

 

112,252

Food Products - 1.4%

Diamond Foods, Inc. (d)

422,718

33,729

General Mills, Inc.

395,600

15,219

Green Mountain Coffee Roasters, Inc. (a)

557,700

51,833

Kraft Foods, Inc. Class A

236,800

7,952

Mead Johnson Nutrition Co. Class A

276,700

19,045

Orion Corp.

4,038

1,761

Shenguan Holdings Group Ltd.

1,866,000

947

Tingyi (Cayman Islands) Holding Corp.

5,628,000

13,796

TreeHouse Foods, Inc. (a)

686,993

42,484

Unilever PLC sponsored ADR (d)

94,400

2,944

Want Want China Holdings Ltd.

30,156,000

27,311

 

217,021

Household Products - 1.4%

Colgate-Palmolive Co.

2,394,200

212,318

Kimberly-Clark Corp.

167,400

11,887

Procter & Gamble Co.

6,867

434

 

224,639

Personal Products - 0.8%

Estee Lauder Companies, Inc. Class A

1,311,200

115,176

Hengan International Group Co. Ltd.

183,500

1,466

Nu Skin Enterprises, Inc. Class A

72,900

2,954

 

119,596

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Tobacco - 0.1%

Philip Morris International, Inc.

123,239

$ 7,688

TOTAL CONSUMER STAPLES

1,144,195

ENERGY - 6.7%

Energy Equipment & Services - 0.8%

Schlumberger Ltd.

2,053,000

122,626

Weatherford International Ltd. (a)

72,848

889

 

123,515

Oil, Gas & Consumable Fuels - 5.9%

Anadarko Petroleum Corp.

2,227,800

140,463

Apache Corp.

355,761

28,546

Baytex Energy Corp. (d)

29,600

1,237

BG Group PLC

730,939

14,154

Birchcliff Energy Ltd. (a)

1,304,400

12,667

Canadian Natural Resources Ltd.

819,800

24,063

Celtic Exploration Ltd. (a)

143,100

3,081

CNOOC Ltd. sponsored ADR (d)

49,500

7,935

Concho Resources, Inc. (a)

1,127,180

80,188

Continental Resources, Inc. (a)

723,100

34,976

El Paso Corp.

85,100

1,488

EOG Resources, Inc.

444,800

31,585

GoviEx Uranium, Inc. (a)(h)

3,477,000

8,693

Gran Tierra Energy, Inc. (Canada) (a)

156,200

741

Ivanhoe Energy, Inc. (f)

772,500

833

Kodiak Oil & Gas Corp. (a)(d)

724,500

3,775

Kosmos Energy Ltd.

669,300

7,838

Noble Energy, Inc.

3,717,100

263,171

Oasis Petroleum, Inc. (a)

213,352

4,764

Occidental Petroleum Corp.

2,050,400

146,604

OGX Petroleo e Gas Participacoes SA (a)

406,900

2,488

Painted Pony Petroleum Ltd. Class A (a)

648,231

6,783

QEP Resources, Inc.

476,300

12,893

Sable Mining Africa Ltd. (a)

38,756,373

6,498

Skope Energy, Inc. (f)

784,000

6,581

Southwestern Energy Co. (a)

36,300

1,210

Tourmaline Oil Corp. (a)

1,200,300

35,289

Tourmaline Oil Corp. (a)(f)

303,400

8,920

TransAtlantic Petroleum Ltd. (a)(f)

918,400

753

Tullow Oil PLC

760,500

15,527

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

Ultrapar Participacoes SA

570,000

$ 8,939

Williams Companies, Inc.

226,100

5,503

World Fuel Services Corp.

96,000

3,134

 

931,320

TOTAL ENERGY

1,054,835

FINANCIALS - 7.1%

Capital Markets - 0.2%

BlackRock, Inc. Class A

150,500

22,276

Morgan Stanley

884,400

11,939

 

34,215

Commercial Banks - 2.1%

Banco do Brasil SA

107,700

1,422

Bank of China Ltd. (H Shares)

4,955,000

1,532

Bank of Ireland (h)

74,831,644

7,720

Commonwealth Bank of Australia

35,632

1,550

First Republic Bank

156,000

3,613

HDFC Bank Ltd. sponsored ADR

223,500

6,515

Industrial & Commercial Bank of China Ltd. (H Shares)

5,015,000

2,422

Itau Unibanco Banco Multiplo SA sponsored ADR

1,726,600

26,797

M&T Bank Corp.

116,300

8,129

PT Bank Central Asia Tbk

7,269,500

6,301

Standard Chartered PLC (United Kingdom)

740,767

14,870

SVB Financial Group (a)

29,300

1,084

The Toronto-Dominion Bank

98,900

7,037

Wells Fargo & Co.

9,807,985

236,569

 

325,561

Consumer Finance - 0.0%

American Express Co.

32,300

1,450

Credit Acceptance Corp. (a)

38,700

2,491

Discover Financial Services

91,000

2,088

 

6,029

Diversified Financial Services - 0.8%

Citigroup, Inc.

3,010,570

77,131

JPMorgan Chase & Co.

1,592,314

47,960

MSCI, Inc. Class A (a)

64,761

1,964

NBH Holdings Corp. Class A (a)(f)

10,500

174

 

127,229

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Insurance - 3.6%

ACE Ltd.

346,800

$ 21,016

Admiral Group

1,677,600

33,048

AIA Group Ltd.

7,278,200

20,611

Berkshire Hathaway, Inc. Class A (a)

3,781

403,811

Fairfax Financial Holdings Ltd. (sub. vtg.)

34,700

13,300

MetLife, Inc.

321,000

8,991

The Chubb Corp.

1,028,300

61,688

The Travelers Companies, Inc.

182,500

8,893

 

571,358

Real Estate Management & Development - 0.3%

BR Malls Participacoes SA

3,897,650

39,805

Thrifts & Mortgage Finance - 0.1%

BankUnited, Inc.

435,600

9,043

TOTAL FINANCIALS

1,113,240

HEALTH CARE - 9.8%

Biotechnology - 3.1%

Alexion Pharmaceuticals, Inc. (a)

1,265,400

81,062

Amarin Corp. PLC ADR (a)

852,000

7,838

Amgen, Inc.

179,600

9,869

Anthera Pharmaceuticals, Inc. (a)

60,400

288

ARIAD Pharmaceuticals, Inc. (a)

2,535,472

22,287

ArQule, Inc. (a)

934,336

4,718

AVEO Pharmaceuticals, Inc. (a)

240,900

3,707

Biogen Idec, Inc. (a)

1,539,900

143,442

BioMarin Pharmaceutical, Inc. (a)

131,900

4,204

Celgene Corp. (a)

181,300

11,226

Cepheid, Inc. (a)

100,600

3,906

Cubist Pharmaceuticals, Inc. (a)

88,500

3,126

Gilead Sciences, Inc. (a)

3,864,700

149,950

Incyte Corp. (a)(d)

399,800

5,585

Inhibitex, Inc. (a)

214,400

527

ONYX Pharmaceuticals, Inc. (a)

67,708

2,032

RXi Pharmaceuticals Corp. warrants 2/4/15 (a)

228,571

118

Targacept, Inc. (a)

1,215,200

18,228

Theravance, Inc. (a)

101,614

2,047

Vertex Pharmaceuticals, Inc. (a)

267,200

11,901

 

486,061

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Health Care Equipment & Supplies - 0.8%

Baxter International, Inc.

31,100

$ 1,746

C. R. Bard, Inc.

44,499

3,895

Covidien PLC

224,700

9,909

Edwards Lifesciences Corp. (a)

291,397

20,771

Hill-Rom Holdings, Inc.

757,119

22,729

I-Pulse, Inc.

58,562

94

ICU Medical, Inc. (a)

122,800

4,519

Intuitive Surgical, Inc. (a)

77,500

28,232

Mako Surgical Corp. (a)

232,500

7,956

Shandong Weigao Group Medical Polymer Co. Ltd. (H Shares)

7,460,000

8,292

Sirona Dental Systems, Inc. (a)

161,800

6,862

Varian Medical Systems, Inc. (a)

145,200

7,574

Volcano Corp. (a)

160,933

4,768

 

127,347

Health Care Providers & Services - 1.0%

Accretive Health, Inc. (a)

60,000

1,274

Aetna, Inc.

61,700

2,243

AmerisourceBergen Corp.

256,500

9,560

Cardinal Health, Inc.

464,900

19,470

HMS Holdings Corp. (a)

425,100

10,368

Humana, Inc.

156,500

11,382

McKesson Corp.

188,800

13,726

UnitedHealth Group, Inc.

1,762,300

81,277

Universal Health Services, Inc. Class B

247,600

8,418

Wellcare Health Plans, Inc. (a)

76,400

2,902

WellPoint, Inc.

49,500

3,231

 

163,851

Health Care Technology - 0.9%

athenahealth, Inc. (a)

211,200

12,577

Cerner Corp. (a)

1,267,646

86,859

Quality Systems, Inc.

405,002

39,285

SXC Health Solutions Corp. (a)

29,600

1,651

 

140,372

Life Sciences Tools & Services - 1.3%

Agilent Technologies, Inc. (a)

740,200

23,131

Fluidigm Corp. (h)

112,607

1,569

Illumina, Inc. (a)

138,500

5,667

Luminex Corp. (a)

52,400

1,162

Mettler-Toledo International, Inc. (a)

748,900

104,816

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Life Sciences Tools & Services - continued

Thermo Fisher Scientific, Inc. (a)

54,400

$ 2,755

Waters Corp. (a)

884,300

66,756

 

205,856

Pharmaceuticals - 2.7%

Abbott Laboratories

809,028

41,374

Allergan, Inc.

225,000

18,536

AstraZeneca PLC (United Kingdom)

58,471

2,595

Bayer AG

476,705

26,474

Bristol-Myers Squibb Co.

715,300

22,446

Endocyte, Inc.

75,700

802

Forest Laboratories, Inc. (a)

110,200

3,393

Jazz Pharmaceuticals, Inc. (a)

162,900

6,764

MAP Pharmaceuticals, Inc. (a)

599,800

8,769

Merck & Co., Inc.

317,100

10,372

Mylan, Inc. (a)

162,300

2,759

Novartis AG sponsored ADR

176,300

9,832

Novo Nordisk A/S Series B

804,320

80,215

Perrigo Co.

744,700

72,318

Piramal Healthcare Ltd.

7,377

53

Questcor Pharmaceuticals, Inc. (a)

500,000

13,630

Shire PLC

1,535,100

47,882

Valeant Pharmaceuticals International, Inc. (Canada)

821,706

30,617

ViroPharma, Inc. (a)

88,600

1,601

Watson Pharmaceuticals, Inc. (a)

299,400

20,434

 

420,866

TOTAL HEALTH CARE

1,544,353

INDUSTRIALS - 4.9%

Aerospace & Defense - 0.1%

AeroVironment, Inc. (a)

97,700

2,750

Precision Castparts Corp.

66,800

10,385

TransDigm Group, Inc. (a)

88,500

7,228

 

20,363

Air Freight & Logistics - 0.6%

C.H. Robinson Worldwide, Inc.

1,298,172

88,886

Expeditors International of Washington, Inc.

106,900

4,335

 

93,221

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Commercial Services & Supplies - 0.6%

Aggreko PLC

207,912

$ 5,283

Edenred

328,900

7,905

KAR Auction Services, Inc. (a)

130,800

1,584

Stericycle, Inc. (a)

694,315

56,045

Swisher Hygiene, Inc.

1,395,310

5,651

Waste Connections, Inc.

476,600

16,119

 

92,587

Construction & Engineering - 0.0%

Jacobs Engineering Group, Inc. (a)

48,500

1,566

Electrical Equipment - 0.4%

Cooper Industries PLC Class A

182,045

8,396

Polypore International, Inc. (a)

440,563

24,901

Rockwell Automation, Inc.

29,800

1,669

Roper Industries, Inc.

412,100

28,398

Sensata Technologies Holding BV (a)

246,200

6,514

 

69,878

Industrial Conglomerates - 0.8%

Danaher Corp.

3,059,454

128,314

Machinery - 0.4%

China Automation Group Ltd.

1,661,000

419

Cummins, Inc.

95,800

7,823

Deere & Co.

17,700

1,143

Dover Corp.

218,200

10,168

Graco, Inc.

144,300

4,926

Nordson Corp.

636,300

25,287

Pall Corp.

19,400

823

Rotork PLC

55,900

1,354

Westport Innovations, Inc. (a)

79,600

2,303

 

54,246

Professional Services - 0.3%

Experian PLC

989,100

11,185

IHS, Inc. Class A (a)

257,995

19,301

Nielsen Holdings B.V. (a)

299,700

7,816

Qualicorp SA

736,000

5,478

 

43,780

Road & Rail - 1.3%

Canadian National Railway Co.

1,012,300

67,625

CSX Corp.

2,787,600

52,044

Localiza Rent A Car SA

573,000

7,585

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Road & Rail - continued

Norfolk Southern Corp.

28,900

$ 1,763

Union Pacific Corp.

936,800

76,508

 

205,525

Trading Companies & Distributors - 0.4%

Air Lease Corp.:

Class A (a)(f)

320,800

6,159

Class A (d)

416,800

8,003

Mills Estruturas e Servicos de Engenharia SA

252,000

2,586

Noble Group Ltd.

4,386,000

4,378

W.W. Grainger, Inc.

284,200

42,499

 

63,625

TOTAL INDUSTRIALS

773,105

INFORMATION TECHNOLOGY - 29.2%

Communications Equipment - 1.5%

Acme Packet, Inc. (a)

716,900

30,533

Aruba Networks, Inc. (a)

944,949

19,759

Calix Networks, Inc. (a)

310,334

2,421

Cisco Systems, Inc.

282,300

4,373

HTC Corp.

237,192

5,210

Motorola Solutions, Inc.

190,400

7,978

Polycom, Inc. (a)

1,192,000

21,897

QUALCOMM, Inc.

2,668,451

129,767

Riverbed Technology, Inc. (a)

828,000

16,527

 

238,465

Computers & Peripherals - 9.1%

Apple, Inc. (a)

3,424,946

1,305,529

Dell, Inc. (a)

2,826,100

39,989

EMC Corp. (a)

3,370,100

70,738

NetApp, Inc. (a)

410,815

13,943

 

1,430,199

Electronic Equipment & Components - 0.8%

Amphenol Corp. Class A

2,396,840

97,719

Arrow Electronics, Inc. (a)

188,600

5,239

IPG Photonics Corp. (a)

387,686

16,841

National Instruments Corp.

216,200

4,942

 

124,741

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Internet Software & Services - 6.5%

Active Network, Inc. (d)

220,552

$ 3,253

Baidu.com, Inc. sponsored ADR (a)

567,900

60,714

Blinkx PLC (a)

814,600

1,880

Constant Contact, Inc. (a)(d)

405,700

7,015

eBay, Inc. (a)

3,482,361

102,695

Equinix, Inc. (a)

14,200

1,261

Facebook, Inc. Class B (a)(h)

763,842

19,096

Google, Inc. Class A (a)

1,398,305

719,260

LinkedIn Corp. (a)(d)

59,000

4,607

LogMeIn, Inc. (a)

276,300

9,176

Marchex, Inc. Class B (d)

829,200

7,048

Mercadolibre, Inc. (d)

341,100

18,334

OpenTable, Inc. (a)(d)

239,000

10,996

RightNow Technologies, Inc. (a)

60,454

1,998

Stamps.com, Inc.

593,900

12,139

Tencent Holdings Ltd.

1,608,500

33,363

WebMD Health Corp. (a)

103,136

3,110

Yahoo!, Inc. (a)

423,900

5,579

Zillow, Inc. (a)(d)

21,400

585

 

1,022,109

IT Services - 3.6%

Accenture PLC Class A

2,703,500

142,420

Alliance Data Systems Corp. (a)(d)

263,830

24,457

Atos Origin SA

29,623

1,293

Broadridge Financial Solutions, Inc.

73,100

1,472

CACI International, Inc. Class A (a)

135,000

6,742

Cognizant Technology Solutions Corp. Class A (a)

990,500

62,104

Fidelity National Information Services, Inc.

610,497

14,847

Fiserv, Inc. (a)

268,381

13,626

International Business Machines Corp.

307,000

53,734

MasterCard, Inc. Class A

280,200

88,868

ServiceSource International, Inc.

410,200

5,419

Visa, Inc. Class A

1,762,400

151,073

 

566,055

Semiconductors & Semiconductor Equipment - 3.1%

Altera Corp.

2,596,000

81,852

Analog Devices, Inc.

789,500

24,672

ARM Holdings PLC sponsored ADR

3,435,300

87,600

ASML Holding NV

489,300

16,900

Atmel Corp. (a)

1,575,200

12,712

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Avago Technologies Ltd.

2,046,300

$ 67,057

Broadcom Corp. Class A

438,000

14,581

Cavium, Inc. (a)

70,600

1,907

Cymer, Inc. (a)

13,400

498

Cypress Semiconductor Corp.

287,400

4,302

GT Advanced Technologies, Inc. (a)(d)

513,600

3,605

KLA-Tencor Corp.

84,700

3,242

Lam Research Corp. (a)

85,000

3,228

Linear Technology Corp.

33,200

918

Maxim Integrated Products, Inc.

103,500

2,415

NVE Corp. (a)(d)(e)

398,000

24,143

NVIDIA Corp. (a)

383,300

4,791

NXP Semiconductors NV (a)

175,300

2,475

RF Micro Devices, Inc. (a)

995,900

6,314

Samsung Electronics Co. Ltd.

113,307

78,913

Skyworks Solutions, Inc. (a)

2,336,476

41,916

 

484,041

Software - 4.6%

Activision Blizzard, Inc.

150,300

1,789

ANSYS, Inc. (a)

260,700

12,785

BMC Software, Inc. (a)

911,500

35,147

BroadSoft, Inc. (a)

28,000

850

Check Point Software Technologies Ltd. (a)

1,877,900

99,078

Citrix Systems, Inc. (a)

1,117,600

60,943

CommVault Systems, Inc. (a)

170,175

6,307

Fortinet, Inc. (a)

1,036,800

17,418

Informatica Corp. (a)

1,438,879

58,922

Intuit, Inc.

1,052,800

49,945

NetSuite, Inc. (a)(d)

69,400

1,874

Oracle Corp.

5,551,750

159,557

Pegasystems, Inc.

105,060

3,216

QLIK Technologies, Inc. (a)

228,400

4,947

Red Hat, Inc. (a)

350,000

14,791

Rovi Corp. (a)

678,900

29,179

salesforce.com, Inc. (a)

965,800

110,372

SolarWinds, Inc. (a)

145,700

3,208

Solera Holdings, Inc.

460,100

23,235

TIBCO Software, Inc. (a)

663,600

14,858

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Software - continued

Trion World Network, Inc. warrants 8/10/17 (a)(h)

18,952

$ 0

VMware, Inc. Class A (a)

302,100

24,283

 

732,704

TOTAL INFORMATION TECHNOLOGY

4,598,314

MATERIALS - 5.6%

Chemicals - 0.3%

CF Industries Holdings, Inc.

62,300

7,687

CVR Partners LP

128,200

3,017

Ecolab, Inc. (d)

289,100

14,134

Monsanto Co.

24,300

1,459

Potash Corp. of Saskatchewan, Inc.

207,000

8,985

PPG Industries, Inc.

181,700

12,839

Praxair, Inc.

74,100

6,927

W.R. Grace & Co. (a)

25,400

846

 

55,894

Containers & Packaging - 0.1%

Ball Corp.

181,500

5,630

Crown Holdings, Inc. (a)

81,800

2,504

Lock & Lock Co. Ltd. rights 10/26/11 (a)

2,310

7

Rock-Tenn Co. Class A

31,800

1,548

Silgan Holdings, Inc.

148,892

5,470

 

15,159

Metals & Mining - 5.2%

Alacer Gold Corp. (a)

370,900

3,619

Alamos Gold, Inc.

114,600

1,722

Allied Nevada Gold Corp. (Canada) (a)

418,800

15,097

Altius Minerals Corp. (a)

1,500

15

AngloGold Ashanti Ltd. sponsored ADR

914,200

37,811

Aurizon Mines Ltd. (a)

446,900

2,281

Avion Gold Corp. (a)

7,936,000

15,216

B2Gold Corp. (a)

6,176,500

22,978

B2Gold Corp. (a)(f)

660,000

2,455

Dalradian Resources, Inc. (a)

883,300

1,508

Eldorado Gold Corp.

5,579,603

96,072

Extorre Gold Mines Ltd. (a)

1,425,700

8,337

Extorre Gold Mines Ltd. (a)(f)

128,900

754

Exxaro Resources Ltd.

47,900

1,011

Franco-Nevada Corp.

2,433,900

88,018

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Metals & Mining - continued

Franco-Nevada Corp. warrants 6/16/17 (a)(f)

62,150

$ 388

Freeport-McMoRan Copper & Gold, Inc.

818,800

24,932

Gabriel Resources Ltd. (a)

467,000

2,588

Goldcorp, Inc.

3,002,901

137,699

Ivanhoe Australia Ltd. (a)

607,013

557

Ivanhoe Mines Ltd. (a)

4,808,155

66,277

Kinross Gold Corp. warrants 9/17/14 (a)

132,322

308

Kirkland Lake Gold, Inc. (a)

141,000

2,285

Medusa Mining Ltd.

2,928,411

19,176

New Gold, Inc. (a)

2,994,000

30,902

Newcrest Mining Ltd.

5,167,081

170,392

Osisko Mining Corp. (a)

929,600

11,767

Pilot Gold, Inc. (a)

4,475

5

Premier Gold Mines Ltd. (a)

132,800

699

Rainy River Resources Ltd. (a)

820,800

5,089

Randgold Resources Ltd. sponsored ADR

148,622

14,375

Royal Gold, Inc. (d)

155,000

9,929

SEMAFO, Inc. (a)

701,900

5,792

Tahoe Resources, Inc. (a)(f)

1,074,200

15,473

Tigray Resources, Inc.

209,960

232

Torex Gold Resources, Inc. (a)(d)

1,000,000

1,240

 

816,999

TOTAL MATERIALS

888,052

TELECOMMUNICATION SERVICES - 0.7%

Diversified Telecommunication Services - 0.1%

Telecomunicacoes de Sao Paulo SA sponsored ADR

849,975

22,482

Wireless Telecommunication Services - 0.6%

American Tower Corp. Class A (a)

1,248,400

67,164

Millicom International Cellular SA (depositary receipt)

63,600

6,398

TIM Participacoes SA sponsored ADR

801,619

18,886

 

92,448

TOTAL TELECOMMUNICATION SERVICES

114,930

UTILITIES - 0.2%

Electric Utilities - 0.0%

Southern Co.

80,900

3,428

Common Stocks - continued

Shares

Value (000s)

UTILITIES - continued

Gas Utilities - 0.1%

ONEOK, Inc.

124,700

$ 8,235

Multi-Utilities - 0.1%

Consolidated Edison, Inc.

88,800

5,063

YTL Corp. Bhd

18,974,550

7,844

 

12,907

TOTAL UTILITIES

24,570

TOTAL COMMON STOCKS

(Cost $11,818,068)

14,488,815

Preferred Stocks - 0.6%

 

 

 

 

Convertible Preferred Stocks - 0.6%

CONSUMER DISCRETIONARY - 0.2%

Diversified Consumer Services - 0.1%

Groupon, Inc. Series G (a)(h)

539,680

17,048

Media - 0.1%

Zynga Game Network, Inc. (a)(h)

1,265,654

17,756

TOTAL CONSUMER DISCRETIONARY

34,804

HEALTH CARE - 0.3%

Biotechnology - 0.1%

Light Sciences Oncology, Inc. (a)(h)

463,700

3,881

Light Sciences Oncology, Inc. Series B (a)(h)

1,792,115

15,000

 

18,881

Health Care Equipment & Supplies - 0.0%

superDimension Ltd.:

Series D, 6.00% (a)(h)

91,600

1,963

Series E, 6.00% (h)

6,622

142

superDimension Ltd. warrants 6/16/20 (a)(h)

1,656

0

 

2,105

Pharmaceuticals - 0.2%

Kythera Biopharmaceuticals, Inc. (a)(h)

3,803,655

20,000

TOTAL HEALTH CARE

40,986

Preferred Stocks - continued

Shares

Value (000s)

Convertible Preferred Stocks - continued

INFORMATION TECHNOLOGY - 0.1%

Internet Software & Services - 0.1%

Digg, Inc. Series C, 8.00% (a)(h)

64,821

$ 159

Ning, Inc. Series D 8.00% (a)(h)

541,260

3,191

 

3,350

Software - 0.0%

Trion World Network, Inc.:

Series C, 8.00% (a)(h)

602,295

2,578

Series C-1, 8.00% (a)(h)

47,380

203

 

2,781

TOTAL INFORMATION TECHNOLOGY

6,131

TOTAL CONVERTIBLE PREFERRED STOCKS

81,921

Nonconvertible Preferred Stocks - 0.0%

CONSUMER DISCRETIONARY - 0.0%

Automobiles - 0.0%

Volkswagen AG

11,534

1,546

TOTAL PREFERRED STOCKS

(Cost $85,103)

83,467

Nonconvertible Bonds - 0.0%

 

Principal Amount (000s)

 

CONSUMER DISCRETIONARY - 0.0%

Specialty Retail - 0.0%

J. Crew Group, Inc. 8.125% 3/1/19

(Cost $1,690)

  

$ 1,849

1,609

Notes - 0.0%

 

 

Principal Amount (000s)

Value (000s)

HEALTH CARE - 0.0%

Biotechnology - 0.0%

Light Sciences Oncology, Inc. convertible note

15% 11/4/11 (h)(i)

(Cost $3,210)

$ 3,210

$ 3,210

Money Market Funds - 8.6%

Shares

 

Fidelity Cash Central Fund, 0.12% (b)

1,223,267,502

1,223,268

Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)

131,894,406

131,894

TOTAL MONEY MARKET FUNDS

(Cost $1,355,162)

1,355,162

TOTAL INVESTMENT PORTFOLIO - 101.2%

(Cost $13,263,233)

15,932,263

NET OTHER ASSETS (LIABILITIES) - (1.2)%

(186,087)

NET ASSETS - 100%

$ 15,746,176

Legend

(a) Non-income producing

(b) Affiliated fund that is 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.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Affiliated company

(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 $50,440,000 or 0.3% of net assets.

(g) Investment is owned by an entity that is treated as a corporation for U.S. tax purposes which is owned by the Fund.

(h) Restricted securities - 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 $127,209,000 or 0.9% of net assets.

Additional information on each restricted holding is as follows:

Security

Acquisition Date

Acquisition Cost (000s)

Bank of Ireland

7/29/11

$ 10,752

Digg, Inc. Series C, 8.00%

9/23/08

$ 683

Facebook, Inc.
Class B

3/31/11 - 5/19/11

$ 19,101

Fluidigm Corp.

10/9/07 - 1/6/11

$ 1,992

GoviEx Uranium, Inc.

9/28/07 - 4/6/10

$ 7,499

Groupon, Inc.
Series G

12/17/10

$ 17,048

Kythera Biopharmaceuticals, Inc.

8/30/11

$ 20,000

Legend Pictures LLC

9/23/10

$ 4,150

Light Sciences Oncology, Inc.

7/9/08

$ 3,881

Security

Acquisition Date

Acquisition Cost (000s)

Light Sciences Oncology, Inc. convertible note 15% 11/4/11

5/4/10 - 6/6/11

$ 3,210

Light Sciences Oncology, Inc. Series B

4/4/07

$ 15,000

Ning, Inc. Series D 8.00%

3/19/08

$ 3,870

superDimension Ltd. warrants 6/16/20

6/15/10

$ 0

superDimension Ltd. Series D, 6.00%

2/27/08 - 5/22/08

$ 1,963

superDimension Ltd. Series E, 6.00%

6/15/10

$ 142

Trion World Network, Inc. warrants 8/10/17

8/10/10

$ 0

Trion World Network, Inc.
Series C, 8.00%

8/22/08

$ 3,307

Trion World Network, Inc.
Series C-1, 8.00%

8/10/10

$ 260

Weinstein Co. Holdings LLC
Class A-1

10/19/05

$ 2,267

Zynga Game Network, Inc.

2/18/11

$ 17,756

(i) Includes a facility warrant

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 1,250

Fidelity Securities Lending Cash Central Fund

1,116

Total

$ 2,366

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value,
end of
period

NVE Corp.

$ -

$ 24,180

$ -

$ -

$ 24,143

Sable Mining Africa Ltd.

26,460

-

10,029

-

-

Total

$ 26,460

$ 24,180

$ 10,029

$ -

$ 24,143

Other Information

The following is a summary of the inputs used, as of September 30, 2011, 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 in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 3,269,571

$ 3,160,154

$ 69,085

$ 40,332

Consumer Staples

1,144,195

1,094,293

49,902

-

Energy

1,054,835

1,046,142

-

8,693

Financials

1,113,240

1,080,650

32,590

-

Health Care

1,585,339

1,405,104

139,155

41,080

Industrials

773,105

768,308

4,797

-

Information Technology

4,604,445

4,461,732

117,486

25,227

Materials

888,052

697,920

190,132

-

Telecommunication Services

114,930

114,930

-

-

Utilities

24,570

16,726

7,844

-

Corporate Bonds

1,609

-

1,609

-

Notes

3,210

-

-

3,210

Money Market Funds

1,355,162

1,355,162

-

-

Total Investments in Securities:

$ 15,932,263

$ 15,201,121

$ 612,600

$ 118,542

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

(Amounts in thousands)

 

Investments in Securities:

Beginning Balance

$ 39,538

Total Realized Gain (Loss)

-

Total Unrealized Gain (Loss)

11,215

Cost of Purchases

57,950

Proceeds of Sales

(1,177)

Amortization/Accretion

-

Transfers in to Level 3

17,797

Transfers out of Level 3

(6,781)

Ending Balance

$ 118,542

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at September 30, 2011

$ 11,215

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period and includes the value of securities received. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

Income Tax Information

At September 30, 2011, the cost of investment securities for income tax purposes was $13,408,853,000. Net unrealized appreciation aggregated $2,523,410,000, of which $3,434,736,000 related to appreciated investment securities and $911,326,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent 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 significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy. For restricted debt and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These 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 each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Contrafund® -
Contrafund
Class K

September 30, 2011

1.807733.107
CON-QTLY-1111

Investments September 30, 2011 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 94.8%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 21.0%

Auto Components - 0.1%

Autoliv, Inc.

382,200

$ 18,537

Gentex Corp.

2,774,408

66,725

 

85,262

Automobiles - 0.4%

Hyundai Motor Co.

911,415

158,920

Tesla Motors, Inc. (a)(d)

3,583,141

87,393

 

246,313

Diversified Consumer Services - 0.3%

Anhanguera Educacional Participacoes SA

2,044,209

26,300

Kroton Educacional SA unit (a)

1,632,900

15,582

New Oriental Education & Technology Group, Inc. sponsored ADR (a)

4,372,982

100,447

Weight Watchers International, Inc.

939,780

54,742

 

197,071

Hotels, Restaurants & Leisure - 6.8%

Ajisen (China) Holdings Ltd.

14,218,000

16,261

Arcos Dorados Holdings, Inc.

3,336,852

77,382

Buffalo Wild Wings, Inc. (a)

898,267

53,716

Chipotle Mexican Grill, Inc. (a)(e)

2,928,280

887,122

Ctrip.com International Ltd. sponsored ADR (a)

1,397,353

44,939

Dunkin' Brands Group, Inc. (a)(d)

2,257,400

62,530

Galaxy Entertainment Group Ltd. (a)

35,584,000

51,698

Hyatt Hotels Corp. Class A (a)

215,000

6,745

InterContinental Hotel Group PLC

412,281

6,687

Las Vegas Sands Corp. (a)

3,845,900

147,452

Little Sheep Group Ltd.

19,780,000

14,198

McDonald's Corp.

22,826,663

2,004,638

Paradise Co. Ltd.

1,416,032

9,865

Red Robin Gourmet Burgers, Inc. (a)

426,000

10,262

Shangri-La Asia Ltd.

3,000,000

5,736

Starbucks Corp.

12,813,254

477,806

Tim Hortons, Inc.

147,400

6,822

Tim Hortons, Inc. (Canada)

12,168,732

565,429

Wyndham Worldwide Corp.

479,900

13,682

Wynn Resorts Ltd.

1,054,600

121,363

 

4,584,333

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Household Durables - 0.2%

SodaStream International Ltd.

569,889

$ 18,835

Tempur-Pedic International, Inc. (a)

2,545,752

133,932

 

152,767

Internet & Catalog Retail - 3.1%

Amazon.com, Inc. (a)

6,553,308

1,417,022

ASOS PLC (a)

1,688,738

40,116

HomeAway, Inc. (d)

195,926

6,587

Netflix, Inc. (a)(d)

114,400

12,946

Ocado Group PLC (a)

19,785,281

29,163

Priceline.com, Inc. (a)

1,208,100

542,993

Start Today Co. Ltd.

662,700

14,360

 

2,063,187

Leisure Equipment & Products - 0.0%

Mattel, Inc.

848,200

21,960

Polaris Industries, Inc.

139,800

6,986

 

28,946

Media - 3.3%

DIRECTV (a)

5,318,033

224,687

Discovery Communications, Inc. (a)(e)

15,571,234

585,790

Legend Pictures LLC (a)(g)(h)

27,800

20,850

Liberty Media Corp.:

Capital Series A (a)

640,538

42,352

Interactive Series A (a)

1,335,200

19,721

Naspers Ltd. Class N

75,751

3,291

Scripps Networks Interactive, Inc. Class A

4,088,052

151,953

The Walt Disney Co.

38,596,819

1,164,080

Weinstein Co. Holdings LLC Class A-1 (a)(g)(h)

41,234

15,463

 

2,228,187

Multiline Retail - 1.3%

Dollar General Corp. (a)

594,700

22,456

Dollar Tree, Inc. (a)(e)

9,509,400

714,251

Dollarama, Inc.

1,471,150

50,942

Dollarama, Inc. (a)(f)

1,194,200

41,352

Macy's, Inc.

1,047,730

27,576

Maoye International Holdings Ltd.

15,198,000

3,143

Marisa Lojas SA

985,800

11,367

Springland International Holdings Ltd.

372,000

244

 

871,331

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - 3.4%

AutoZone, Inc. (a)

363,710

$ 116,093

Bed Bath & Beyond, Inc. (a)

6,485,400

371,678

Belle International Holdings Ltd.

6,930,000

11,947

Cia.Hering SA

335,000

5,594

Dick's Sporting Goods, Inc. (a)

787,900

26,363

DSW, Inc. Class A

360,633

16,654

Foschini Ltd.

1,210,000

12,719

GNC Holdings, Inc.

1,314,300

26,444

L'Occitane Ltd. (a)

5,788,000

11,658

Limited Brands, Inc.

2,014,100

77,563

O'Reilly Automotive, Inc. (a)

1,123,300

74,845

Penske Automotive Group, Inc.

630,300

10,085

Ross Stores, Inc.

4,473,094

351,988

Sa Sa International Holdings Ltd.

9,110,000

5,402

Sally Beauty Holdings, Inc. (a)

972,709

16,147

TJX Companies, Inc. (e)

19,067,462

1,057,672

Tractor Supply Co.

175,200

10,959

Ulta Salon, Cosmetics & Fragrance, Inc. (a)

1,157,560

72,035

Vitamin Shoppe, Inc. (a)

1,303,641

48,808

 

2,324,654

Textiles, Apparel & Luxury Goods - 2.1%

Burberry Group PLC

6,972,678

127,680

Deckers Outdoor Corp. (a)

50,023

4,665

Hanesbrands, Inc. (a)

515,200

12,885

lululemon athletica, Inc. (a)

244,400

11,890

NIKE, Inc. Class B

11,204,500

958,097

PVH Corp.

105,400

6,138

Ralph Lauren Corp.

782,190

101,450

Under Armour, Inc. Class A (sub. vtg.) (a)

1,337,551

88,827

VF Corp.

1,064,571

129,367

 

1,440,999

TOTAL CONSUMER DISCRETIONARY

14,223,050

CONSUMER STAPLES - 7.6%

Beverages - 3.1%

Anheuser-Busch InBev SA NV ADR

1,536,500

81,404

Coca-Cola Icecek AS

1,163,500

15,838

Dr Pepper Snapple Group, Inc.

1,904,700

73,864

Hansen Natural Corp. (a)

252,900

22,076

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Beverages - continued

The Coca-Cola Co.

27,410,591

$ 1,851,860

Tsingtao Brewery Co. Ltd. (H Shares)

2,400,000

13,170

 

2,058,212

Food & Staples Retailing - 0.7%

Bim Birlesik Magazalar A/S JSC

916,000

25,382

C.P. Seven Eleven PCL (For. Reg.)

5,000,000

7,617

Costco Wholesale Corp.

3,754,323

308,305

Droga Raia SA

1,198,400

16,374

Eurocash SA

78,250

560

Shoprite Holdings Ltd.

1,040,200

14,614

Wal-Mart Stores, Inc.

128,400

6,664

Whole Foods Market, Inc.

1,398,550

91,339

 

470,855

Food Products - 1.5%

Diamond Foods, Inc. (d)(e)

1,680,091

134,054

General Mills, Inc.

1,762,100

67,788

Green Mountain Coffee Roasters, Inc. (a)

2,490,900

231,504

Kraft Foods, Inc. Class A

1,128,700

37,902

Mead Johnson Nutrition Co. Class A

1,223,400

84,207

Nestle SA

710,168

39,254

Orion Corp.

18,103

7,897

Shenguan Holdings Group Ltd.

11,420,000

5,798

Tingyi (Cayman Islands) Holding Corp.

24,956,000

61,173

TreeHouse Foods, Inc. (a)(e)

3,408,796

210,800

Unilever PLC sponsored ADR (d)

525,300

16,384

Want Want China Holdings Ltd.

131,571,000

119,157

 

1,015,918

Household Products - 1.5%

Colgate-Palmolive Co.

10,246,611

908,669

Kimberly-Clark Corp.

729,300

51,788

Procter & Gamble Co.

1,118,919

70,693

 

1,031,150

Personal Products - 0.8%

Estee Lauder Companies, Inc. Class A

5,634,200

494,908

Hengan International Group Co. Ltd.

804,500

6,425

Nu Skin Enterprises, Inc. Class A

226,125

9,163

 

510,496

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Tobacco - 0.0%

Philip Morris International, Inc.

418,000

$ 26,075

TOTAL CONSUMER STAPLES

5,112,706

ENERGY - 6.7%

Energy Equipment & Services - 0.8%

Schlumberger Ltd.

8,959,100

535,127

Oil, Gas & Consumable Fuels - 5.9%

Anadarko Petroleum Corp.

9,326,670

588,047

Apache Corp.

1,467,969

117,790

Baytex Energy Corp. (d)

132,800

5,550

BG Group PLC

3,440,867

66,630

Birchcliff Energy Ltd. (a)(e)

8,465,100

82,204

Cabot Oil & Gas Corp.

4,000

248

Canadian Natural Resources Ltd.

3,537,812

103,843

Celtic Exploration Ltd. (a)

695,000

14,963

CNOOC Ltd. sponsored ADR

193,666

31,045

Concho Resources, Inc. (a)

5,131,459

365,052

Continental Resources, Inc. (a)

3,181,300

153,879

El Paso Corp.

378,200

6,611

Encana Corp.

332,348

6,395

EOG Resources, Inc.

2,021,857

143,572

Gran Tierra Energy, Inc. (Canada) (a)

2,100,400

9,958

Ivanhoe Energy, Inc. (f)

4,102,500

4,422

Kodiak Oil & Gas Corp. (a)(d)

3,198,600

16,665

Kosmos Energy Ltd.

3,459,555

40,511

Noble Energy, Inc. (e)

16,525,736

1,170,022

Oasis Petroleum, Inc. (a)

936,626

20,915

Occidental Petroleum Corp.

8,998,641

643,403

OGX Petroleo e Gas Participacoes SA (a)

1,972,300

12,058

QEP Resources, Inc.

2,149,000

58,173

Southwestern Energy Co. (a)

251,259

8,374

Tourmaline Oil Corp. (a)

5,253,800

154,462

Tourmaline Oil Corp. (a)(f)

1,363,300

40,081

TransAtlantic Petroleum Ltd. (a)(f)

4,894,651

4,015

Tullow Oil PLC

3,256,300

66,484

Ultrapar Participacoes SA

2,500,000

39,208

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

Williams Companies, Inc.

1,051,700

$ 25,598

World Fuel Services Corp.

440,500

14,382

 

4,014,560

TOTAL ENERGY

4,549,687

FINANCIALS - 8.0%

Capital Markets - 0.2%

BlackRock, Inc. Class A

736,794

109,053

Morgan Stanley

3,861,100

52,125

T. Rowe Price Group, Inc.

89,796

4,290

 

165,468

Commercial Banks - 2.3%

Banco do Brasil SA

473,000

6,246

Bank of China Ltd. (H Shares)

22,933,000

7,091

Bank of Ireland (h)

330,348,980

34,080

Commonwealth Bank of Australia

155,921

6,784

First Republic Bank

690,000

15,980

HDFC Bank Ltd. sponsored ADR

996,000

29,033

Itau Unibanco Banco Multiplo SA sponsored ADR

7,580,800

117,654

M&T Bank Corp.

623,300

43,569

Metro Bank PLC Class A (e)(h)

1,658,250

12,725

PT Bank Central Asia Tbk

37,962,000

32,903

Standard Chartered PLC (United Kingdom)

3,742,451

75,126

SVB Financial Group (a)

140,000

5,180

The Toronto-Dominion Bank

465,800

33,143

Wells Fargo & Co.

46,011,297

1,109,792

 

1,529,306

Consumer Finance - 0.0%

American Express Co.

135,000

6,062

Credit Acceptance Corp. (a)

246,122

15,840

Discover Financial Services

443,369

10,171

 

32,073

Diversified Financial Services - 0.8%

Citigroup, Inc.

13,322,620

341,326

JPMorgan Chase & Co.

7,046,232

212,233

MSCI, Inc. Class A (a)

304,836

9,246

 

562,805

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Insurance - 4.3%

ACE Ltd.

1,479,600

$ 89,664

Admiral Group

7,495,359

147,656

AIA Group Ltd.

29,711,800

84,141

Berkshire Hathaway, Inc. Class A (a)

20,420

2,180,856

Fairfax Financial Holdings Ltd. (sub. vtg.)

195,422

74,901

MetLife, Inc.

1,838,800

51,505

The Chubb Corp.

4,522,300

271,293

The Travelers Companies, Inc.

724,928

35,326

 

2,935,342

Real Estate Management & Development - 0.3%

BR Malls Participacoes SA

17,871,300

182,513

Thrifts & Mortgage Finance - 0.1%

BankUnited, Inc.

2,048,900

42,535

TOTAL FINANCIALS

5,450,042

HEALTH CARE - 9.7%

Biotechnology - 2.8%

Alexion Pharmaceuticals, Inc. (a)

4,172,860

267,313

Amarin Corp. PLC ADR (a)

24,985

230

Amgen, Inc.

842,840

46,314

Anthera Pharmaceuticals, Inc. (a)

268,642

1,281

ARIAD Pharmaceuticals, Inc. (a)

2,824,023

24,823

AVEO Pharmaceuticals, Inc. (a)

1,197,970

18,437

Biogen Idec, Inc. (a)

6,286,600

585,597

BioMarin Pharmaceutical, Inc. (a)

671,560

21,403

Celgene Corp. (a)

692,300

42,867

Cepheid, Inc. (a)

436,458

16,948

Cubist Pharmaceuticals, Inc. (a)

393,000

13,881

Gilead Sciences, Inc. (a)

17,825,997

691,649

Incyte Corp. (a)(d)

2,159,900

30,174

Inhibitex, Inc. (a)

952,574

2,343

ONYX Pharmaceuticals, Inc. (a)

181,793

5,456

Targacept, Inc. (a)(e)

2,012,929

30,194

Theravance, Inc. (a)

502,362

10,118

Vertex Pharmaceuticals, Inc. (a)

1,300,100

57,906

 

1,866,934

Health Care Equipment & Supplies - 0.9%

Baxter International, Inc.

682,300

38,304

C. R. Bard, Inc.

265,140

23,210

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Health Care Equipment & Supplies - continued

Covidien PLC

1,031,900

$ 45,507

Edwards Lifesciences Corp. (a)

1,286,558

91,706

Hill-Rom Holdings, Inc. (e)

3,349,113

100,540

ICU Medical, Inc. (a)

381,600

14,043

Intuitive Surgical, Inc. (a)

330,400

120,358

Mako Surgical Corp. (a)

1,067,490

36,530

Shandong Weigao Group Medical Polymer Co. Ltd. (H Shares)

41,040,000

45,619

Sirona Dental Systems, Inc. (a)

714,500

30,302

superDimension Ltd. warrants 6/16/20 (a)(h)

12,142

0

The Cooper Companies, Inc.

105,000

8,311

Varian Medical Systems, Inc. (a)

635,400

33,142

Volcano Corp. (a)

779,815

23,106

 

610,678

Health Care Providers & Services - 1.1%

Accretive Health, Inc. (a)

263,400

5,592

Aetna, Inc.

273,400

9,938

AmerisourceBergen Corp.

1,146,600

42,734

Cardinal Health, Inc.

1,946,000

81,498

HMS Holdings Corp. (a)

2,231,100

54,417

Humana, Inc.

685,700

49,871

McKesson Corp.

874,100

63,547

Medco Health Solutions, Inc. (a)

308,302

14,456

UnitedHealth Group, Inc.

7,694,600

354,875

Universal Health Services, Inc. Class B

1,287,940

43,790

Wellcare Health Plans, Inc. (a)

238,200

9,047

WellPoint, Inc.

217,610

14,206

 

743,971

Health Care Technology - 0.9%

athenahealth, Inc. (a)

931,369

55,463

Cerner Corp. (a)

5,396,474

369,766

Quality Systems, Inc. (d)(e)

2,113,942

205,052

SXC Health Solutions Corp. (a)

238,810

13,318

 

643,599

Life Sciences Tools & Services - 1.3%

Agilent Technologies, Inc. (a)

3,135,405

97,981

Fluidigm Corp. (h)

1,027,387

14,312

Illumina, Inc. (a)

619,042

25,331

Luminex Corp. (a)

227,646

5,047

Mettler-Toledo International, Inc. (a)(e)

3,234,000

452,631

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Life Sciences Tools & Services - continued

Thermo Fisher Scientific, Inc. (a)

241,900

$ 12,250

Waters Corp. (a)

3,790,157

286,119

 

893,671

Pharmaceuticals - 2.7%

Abbott Laboratories

5,058,255

258,679

Allergan, Inc.

1,009,200

83,138

AstraZeneca PLC (United Kingdom)

295,463

13,115

Bayer AG

1,887,555

104,825

Bristol-Myers Squibb Co.

3,144,700

98,681

Endocyte, Inc.

333,900

3,539

Forest Laboratories, Inc. (a)

507,300

15,620

Jazz Pharmaceuticals, Inc. (a)

726,400

30,160

MAP Pharmaceuticals, Inc. (a)

775,598

11,339

Merck & Co., Inc.

1,393,300

45,575

Mylan, Inc. (a)

703,300

11,956

Novartis AG sponsored ADR

777,500

43,361

Novo Nordisk A/S Series B

3,560,381

355,079

Perrigo Co.

3,153,200

306,207

Piramal Healthcare Ltd.

35,231

255

Shire PLC

6,891,100

214,944

Valeant Pharmaceuticals International, Inc. (Canada)

3,629,777

135,247

ViroPharma, Inc. (a)

430,000

7,770

Watson Pharmaceuticals, Inc. (a)

1,223,600

83,511

 

1,823,001

TOTAL HEALTH CARE

6,581,854

INDUSTRIALS - 5.1%

Aerospace & Defense - 0.2%

AeroVironment, Inc. (a)

448,003

12,611

Precision Castparts Corp.

306,800

47,695

TransDigm Group, Inc. (a)

427,000

34,873

United Technologies Corp.

33,700

2,371

 

97,550

Air Freight & Logistics - 0.6%

C.H. Robinson Worldwide, Inc.

5,541,625

379,435

Expeditors International of Washington, Inc.

615,200

24,946

 

404,381

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Commercial Services & Supplies - 0.6%

Aggreko PLC

922,869

$ 23,449

Edenred

1,664,281

40,003

KAR Auction Services, Inc. (a)

554,976

6,721

Stericycle, Inc. (a)

3,074,108

248,142

Swisher Hygiene, Inc.

6,357,060

25,746

Waste Connections, Inc.

1,835,096

62,063

 

406,124

Construction & Engineering - 0.0%

Jacobs Engineering Group, Inc. (a)

428,279

13,829

Electrical Equipment - 0.5%

Cooper Industries PLC Class A

855,541

39,458

Polypore International, Inc. (a)

2,037,521

115,161

Rockwell Automation, Inc.

135,400

7,582

Roper Industries, Inc.

1,794,100

123,631

Sensata Technologies Holding BV (a)

1,048,765

27,750

 

313,582

Industrial Conglomerates - 0.8%

Danaher Corp.

13,310,127

558,227

Machinery - 0.3%

China Automation Group Ltd.

9,687,000

2,445

Cummins, Inc.

236,153

19,284

Deere & Co.

57,100

3,687

Dover Corp.

1,008,400

46,991

Graco, Inc.

638,400

21,795

Nordson Corp.

2,867,314

113,947

PACCAR, Inc.

223,441

7,557

Pall Corp.

10,153

430

Rotork PLC

272,800

6,608

Westport Innovations, Inc. (a)

347,458

10,052

 

232,796

Professional Services - 0.3%

Experian PLC

4,585,002

51,848

IHS, Inc. Class A (a)

1,245,399

93,168

Nielsen Holdings B.V. (a)

1,415,270

36,910

Qualicorp SA

3,243,100

24,138

 

206,064

Road & Rail - 1.4%

Canadian National Railway Co.

4,948,200

330,557

CSX Corp.

11,380,800

212,480

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Road & Rail - continued

Localiza Rent A Car SA

2,909,200

$ 38,511

Norfolk Southern Corp.

228,000

13,913

Union Pacific Corp.

3,976,854

324,790

 

920,251

Trading Companies & Distributors - 0.4%

Air Lease Corp.:

Class A (a)(f)

1,624,500

31,190

Class A

1,878,677

36,071

Mills Estruturas e Servicos de Engenharia SA

1,678,700

17,224

Noble Group Ltd.

21,812,000

21,771

W.W. Grainger, Inc.

1,115,600

166,827

 

273,083

TOTAL INDUSTRIALS

3,425,887

INFORMATION TECHNOLOGY - 30.1%

Communications Equipment - 1.5%

Acme Packet, Inc. (a)

3,197,834

136,196

Aruba Networks, Inc. (a)

4,268,386

89,252

Calix Networks, Inc. (a)

1,411,282

11,008

Cisco Systems, Inc.

1,242,500

19,246

HTC Corp.

1,067,882

23,455

Motorola Solutions, Inc.

836,000

35,028

Polycom, Inc. (a)

5,043,700

92,653

QUALCOMM, Inc.

11,474,743

558,017

Riverbed Technology, Inc. (a)

3,888,766

77,620

 

1,042,475

Computers & Peripherals - 9.8%

Apple, Inc. (a)

15,905,947

6,063,023

Dell, Inc. (a)

12,244,800

173,264

EMC Corp. (a)

14,624,400

306,966

NetApp, Inc. (a)

1,922,185

65,239

 

6,608,492

Electronic Equipment & Components - 0.9%

Amphenol Corp. Class A (e)

11,321,472

461,576

Arrow Electronics, Inc. (a)

1,045,817

29,053

IPG Photonics Corp. (a)

1,826,924

79,362

National Instruments Corp.

1,059,045

24,210

 

594,201

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Internet Software & Services - 6.5%

Active Network, Inc.

961,781

$ 14,186

Baidu.com, Inc. sponsored ADR (a)

2,396,802

256,242

Blinkx PLC (a)

4,000,000

9,234

Constant Contact, Inc. (a)(d)(e)

1,854,870

32,071

eBay, Inc. (a)

14,875,109

438,667

Equinix, Inc. (a)

64,600

5,738

Facebook, Inc. Class B (a)(h)

3,464,225

86,606

Google, Inc. Class A (a)

6,257,521

3,218,744

LinkedIn Corp. (a)(d)

259,100

20,231

LogMeIn, Inc. (a)(e)

1,388,154

46,101

Marchex, Inc. Class B

679,096

5,772

Mercadolibre, Inc.

1,525,624

82,002

RightNow Technologies, Inc. (a)

260,776

8,619

Stamps.com, Inc.

226,300

4,626

Tencent Holdings Ltd.

7,211,700

149,584

WebMD Health Corp. (a)

504,904

15,223

Yahoo!, Inc. (a)

1,934,800

25,462

Zillow, Inc. (a)(d)

94,750

2,591

 

4,421,699

IT Services - 3.6%

Accenture PLC Class A

11,508,100

606,247

Alliance Data Systems Corp. (a)(d)

1,186,786

110,015

Atos Origin SA

135,000

5,894

Broadridge Financial Solutions, Inc.

350,000

7,049

Cognizant Technology Solutions Corp. Class A (a)

4,426,922

277,568

Fidelity National Information Services, Inc.

3,070,958

74,686

Fiserv, Inc. (a)

1,094,800

55,583

International Business Machines Corp.

1,335,836

233,811

MasterCard, Inc. Class A

1,133,046

359,357

ServiceSource International, Inc. (d)

1,858,039

24,545

Visa, Inc. Class A

7,703,593

660,352

 

2,415,107

Semiconductors & Semiconductor Equipment - 3.0%

Altera Corp.

12,281,249

387,228

Analog Devices, Inc.

3,532,554

110,392

ARM Holdings PLC sponsored ADR

14,027,000

357,689

ASML Holding NV

2,014,400

69,577

Atmel Corp. (a)

7,062,500

56,994

Avago Technologies Ltd.

9,064,490

297,043

Broadcom Corp. Class A

2,512,100

83,628

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Cavium, Inc. (a)

187,632

$ 5,068

Cypress Semiconductor Corp.

1,273,900

19,070

GT Advanced Technologies, Inc. (a)(d)

2,079,919

14,601

KLA-Tencor Corp.

400,000

15,312

Lam Research Corp. (a)

371,600

14,113

Linear Technology Corp.

62,781

1,736

Maxim Integrated Products, Inc.

448,191

10,456

NVIDIA Corp. (a)

1,715,956

21,449

NXP Semiconductors NV (a)

811,600

11,460

RF Micro Devices, Inc. (a)

4,356,370

27,619

Samsung Electronics Co. Ltd.

496,120

345,524

Skyworks Solutions, Inc. (a)(e)

10,477,467

187,966

 

2,036,925

Software - 4.8%

Activision Blizzard, Inc.

675,000

8,033

ANSYS, Inc. (a)

1,224,783

60,063

BMC Software, Inc. (a)

3,960,747

152,726

Check Point Software Technologies Ltd. (a)

8,080,500

426,327

Citrix Systems, Inc. (a)

5,109,700

278,632

CommVault Systems, Inc. (a)

774,917

28,718

Fortinet, Inc. (a)

4,601,721

77,309

Informatica Corp. (a)(e)

6,236,131

255,370

Intuit, Inc.

4,625,200

219,419

NetSuite, Inc. (a)(d)

411,038

11,102

Oracle Corp.

24,499,092

704,104

Pegasystems, Inc.

469,943

14,385

QLIK Technologies, Inc. (a)

1,182,500

25,613

Red Hat, Inc. (a)

1,695,625

71,657

Rovi Corp. (a)

2,944,440

126,552

salesforce.com, Inc. (a)

4,274,135

488,448

SolarWinds, Inc. (a)

675,000

14,864

Solera Holdings, Inc.

1,932,888

97,611

TIBCO Software, Inc. (a)

2,807,488

62,860

Trion World Network, Inc. warrants 8/10/17 (a)(h)

124,282

0*

VMware, Inc. Class A (a)

1,304,000

104,816

 

3,228,609

TOTAL INFORMATION TECHNOLOGY

20,347,508

Common Stocks - continued

Shares

Value (000s)

MATERIALS - 5.7%

Chemicals - 0.4%

CF Industries Holdings, Inc.

298,600

$ 36,844

CVR Partners LP

571,800

13,454

Ecolab, Inc. (d)

1,281,263

62,641

Monsanto Co.

106,300

6,382

Potash Corp. of Saskatchewan, Inc.

918,000

39,845

PPG Industries, Inc.

805,100

56,888

Praxair, Inc.

347,600

32,494

W.R. Grace & Co. (a)

115,895

3,859

 

252,407

Containers & Packaging - 0.1%

Ball Corp.

879,344

27,277

Crown Holdings, Inc. (a)

433,600

13,272

Lock & Lock Co. Ltd. rights 10/26/11 (a)

10,202

29

Rock-Tenn Co. Class A

175,100

8,524

Silgan Holdings, Inc.

677,700

24,899

 

74,001

Metals & Mining - 5.2%

Alacer Gold Corp. (a)

1,623,400

15,842

Alamos Gold, Inc.

495,200

7,440

Allied Nevada Gold Corp. (Canada) (a)

1,870,200

67,419

Altius Minerals Corp. (a)

6,400

66

AngloGold Ashanti Ltd. sponsored ADR

3,798,919

157,123

Aurizon Mines Ltd. (a)

2,392,334

12,209

Avion Gold Corp. (a)(e)

35,721,315

68,492

B2Gold Corp. (a)(e)

27,049,049

100,631

B2Gold Corp. (a)(e)(f)

5,850,000

21,764

Dalradian Resources, Inc. (a)(e)

3,991,600

6,816

Eldorado Gold Corp.

21,954,288

378,017

Extorre Gold Mines Ltd. (a)(e)

6,833,959

39,962

Extorre Gold Mines Ltd. (a)(e)(f)

569,000

3,327

Exxaro Resources Ltd.

211,584

4,465

Franco-Nevada Corp. (e)

10,695,700

386,792

Franco-Nevada Corp. warrants 6/16/17 (a)(e)(f)

342,250

2,138

Freeport-McMoRan Copper & Gold, Inc.

3,274,600

99,712

Gabriel Resources Ltd. (a)

2,043,300

11,325

Goldcorp, Inc.

13,155,283

603,238

Ivanhoe Australia Ltd. (a)

2,708,961

2,487

Ivanhoe Mines Ltd. (a)(d)

19,070,049

262,866

Kinross Gold Corp.

955,827

14,197

Kinross Gold Corp. warrants 9/17/14 (a)

1,076,758

2,506

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Metals & Mining - continued

Kirkland Lake Gold, Inc. (a)

671,900

$ 10,890

Medusa Mining Ltd. (e)

13,814,079

90,459

New Gold, Inc. (a)

13,103,111

135,243

Newcrest Mining Ltd.

22,244,740

733,553

Osisko Mining Corp. (a)

3,410,100

43,167

Pilot Gold, Inc. (a)

22,725

26

Premier Gold Mines Ltd. (a)

614,400

3,235

Rainy River Resources Ltd. (a)

385,900

2,393

Randgold Resources Ltd. sponsored ADR

848,246

82,042

Royal Gold, Inc.

697,344

44,672

SEMAFO, Inc. (a)

2,463,900

20,331

Tahoe Resources, Inc. (a)(f)

5,376,500

77,445

Tigray Resources, Inc.

969,860

1,073

 

3,513,363

TOTAL MATERIALS

3,839,771

TELECOMMUNICATION SERVICES - 0.7%

Diversified Telecommunication Services - 0.1%

Telecomunicacoes de Sao Paulo SA sponsored ADR

4,082,730

107,988

Wireless Telecommunication Services - 0.6%

American Tower Corp. Class A (a)

5,234,900

281,638

Millicom International Cellular SA (depositary receipt)

282,100

28,377

TIM Participacoes SA sponsored ADR

3,286,263

77,424

 

387,439

TOTAL TELECOMMUNICATION SERVICES

495,427

UTILITIES - 0.2%

Electric Utilities - 0.0%

Southern Co.

355,200

15,050

Gas Utilities - 0.1%

ONEOK, Inc.

570,800

37,696

Common Stocks - continued

Shares

Value (000s)

UTILITIES - continued

Multi-Utilities - 0.1%

Consolidated Edison, Inc.

389,100

$ 22,186

YTL Corp. Bhd

124,728,150

51,561

 

73,747

TOTAL UTILITIES

126,493

TOTAL COMMON STOCKS

(Cost $46,208,588)

64,152,425

Convertible Preferred Stocks - 0.3%

 

 

 

 

CONSUMER DISCRETIONARY - 0.2%

Diversified Consumer Services - 0.1%

Groupon, Inc. Series G (a)(h)

2,625,879

82,952

Media - 0.1%

Zynga Game Network, Inc. (a)(h)

5,862,380

82,244

TOTAL CONSUMER DISCRETIONARY

165,196

HEALTH CARE - 0.0%

Health Care Equipment & Supplies - 0.0%

superDimension Ltd.:

Series D, 6.00% (a)(h)

698,064

14,960

Series E, 6.00% (h)

48,567

1,041

 

16,001

INFORMATION TECHNOLOGY - 0.1%

Internet Software & Services - 0.1%

Digg, Inc. Series C, 8.00% (a)(h)

410,013

1,005

Ning, Inc. Series D 8.00% (a)(h)

4,021,166

23,705

 

24,710

Convertible Preferred Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Software - 0.0%

Trion World Network, Inc.:

Series C, 8.00% (a)(h)

3,950,196

$ 16,907

Series C-1, 8.00% (a)(h)

310,705

1,330

 

18,237

TOTAL INFORMATION TECHNOLOGY

42,947

TOTAL CONVERTIBLE PREFERRED STOCKS

(Cost $237,662)

224,144

Nonconvertible Bonds - 0.0%

 

Principal Amount (000s)

 

CONSUMER DISCRETIONARY - 0.0%

Specialty Retail - 0.0%

J. Crew Group, Inc. 8.125% 3/1/19

(Cost $7,470)

$ 8,171

7,109

Money Market Funds - 5.7%

Shares

 

Fidelity Cash Central Fund, 0.12% (b)

3,595,618,362

3,595,618

Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)

231,896,944

231,897

TOTAL MONEY MARKET FUNDS

(Cost $3,827,515)

3,827,515

TOTAL INVESTMENT PORTFOLIO - 100.8%

(Cost $50,281,235)

68,211,193

NET OTHER ASSETS (LIABILITIES) - (0.8)%

(525,506)

NET ASSETS - 100%

$ 67,685,687

Legend

(a) Non-income producing

(b) Affiliated fund that is 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.

(c) Investment made with cash collateral received from securities on loan.

(d) Security or a portion of the security is on loan at period end.

(e) Affiliated company

(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 $225,734,000 or 0.3% of net assets.

(g) Investment is owned by an entity that is treated as a corporation for U.S. tax purposes which is owned by the Fund.

(h) Restricted securities - 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 $408,180,000 or 0.6% of net assets.

Additional information on each restricted holding is as follows:

Security

Acquisition Date

Acquisition Cost (000s)

Bank of Ireland

7/29/11

$ 47,466

Security

Acquisition Date

Acquisition Cost (000s)

Digg, Inc.
Series C, 8.00%

9/23/08

$ 4,317

Facebook, Inc. Class B

3/31/11 - 5/19/11

$ 86,629

Fluidigm Corp.

10/9/07 - 1/6/11

$ 18,170

Groupon, Inc. Series G

12/17/10

$ 82,952

Legend Pictures LLC

9/23/10

$ 20,850

Metro Bank PLC Class A

12/8/09 - 12/1/10

$ 21,310

Ning, Inc.
Series D 8.00%

3/19/08

$ 28,751

superDimension Ltd. warrants 6/16/20

6/15/10

$ 0

superDimension Ltd. Series D, 6.00%

2/27/08 - 5/22/08

$ 14,960

superDimension Ltd. Series E, 6.00%

6/15/10

$ 1,041

Trion World Network, Inc. warrants 8/10/17

8/10/10

$ 0*

Trion World Network, Inc. Series C, 8.00%

8/22/08

$ 21,691

Trion World Network, Inc. Series C-1, 8.00%

8/10/10

$ 1,706

Weinstein Co. Holdings LLC Class A-1

10/19/05

$ 41,234

Zynga Game Network, Inc.

2/18/11

$ 82,244

* Amount represents less than $1,000.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 3,313

Fidelity Securities Lending Cash Central Fund

3,030

Total

$ 6,343

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value,
end of
period

Altera Corp.

$ 634,370

$ 69,099

$ 270,330

$ 3,526

$ -

Amphenol Corp.
Class A

550,918

54,590

8,041

499

461,576

Avion Gold Corp.

-

66,645

-

-

68,492

B2Gold Corp.

74,594

13,703

-

-

122,395

Birchcliff Energy Ltd.

80,976

-

-

-

82,204

Cavium, Inc.

100,452

47,862

121,957

-

-

Chipotle Mexican Grill, Inc.

631,915

13,860

28,239

-

887,122

Cirrus Logic, Inc.

66,844

16,478

79,969

-

-

Constant Contact, Inc.

57,482

-

-

-

32,071

Dalradian Resources, Inc.

-

8,089

-

-

6,816

Diamond Foods, Inc.

74,649

29,181

8,710

193

134,054

Discovery Communications, Inc.

559,889

88,576

-

-

585,790

Dollar Tree, Inc.

508,287

75,547

40,470

-

714,251

Extorre Gold Mines Ltd.

-

91,995

9,971

-

43,289

Franco-Nevada Corp.

331,629

59,495

30,177

2,403

388,930

Hill-Rom Holdings, Inc.

127,108

106,420

76,273

1,415

100,540

Informatica Corp.

207,780

97,193

23,423

-

255,370

J. Crew Group, Inc.

275,365

-

277,661

-

-

LogMeIn, Inc.

49,453

8,927

-

-

46,101

Medusa Mining Ltd.

48,539

48,888

-

1,034

90,459

Metro Bank PLC
Class A

23,284

-

-

-

12,725

Mettler-Toledo International, Inc.

489,149

7,138

7,903

-

452,631

Micrel, Inc.

81,148

-

73,073

351

-

Affiliate
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value,
end of
period

Noble Energy, Inc.

$ 1,143,438

$ 287,519

$ -

$ 8,660

$ 1,170,022

Polypore International, Inc.

95,480

5,263

22,564

-

-

Quality Systems, Inc.

133,299

41,227

20,171

2,017

205,052

Skyworks Solutions, Inc.

358,487

46,787

96,958

-

187,966

Targacept, Inc.

41,953

8,811

-

-

30,194

Tim Hortons, Inc.

480,467

6,902

-

-

-

TJX Companies, Inc.

909,199

45,178

114,525

10,518

1,057,672

TreeHouse Foods, Inc.

174,155

-

-

-

210,800

Total

$ 8,310,309

$ 1,345,373

$ 1,310,415

$ 30,616

$ 7,346,522

Other Information

The following is a summary of the inputs used, as of September 30, 2011, 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 in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 14,388,246

$ 13,876,618

$ 310,119

$ 201,509

Consumer Staples

5,112,706

4,891,469

221,237

-

Energy

4,549,687

4,549,687

-

-

Financials

5,450,042

5,306,398

130,919

12,725

Health Care

6,597,855

5,952,842

629,012

16,001

Industrials

3,425,887

3,401,671

24,216

-

Information Technology

20,390,455

19,742,339

518,563

129,553

Materials

3,839,771

3,013,243

826,528

-

Telecommunication Services

495,427

495,427

-

-

Utilities

126,493

74,932

51,561

-

Corporate Bonds

7,109

-

7,109

-

Money Market Funds

3,827,515

3,827,515

-

-

Total Investments in Securities:

$ 68,211,193

$ 65,132,141

$ 2,719,264

$ 359,788

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

(Amounts in thousands)

 

Investments in Securities:

Beginning Balance

$ 162,291

Total Realized Gain (Loss)

-

Total Unrealized Gain (Loss)

(11,579)

Cost of Purchases

169,914

Proceeds of Sales

(10,488)

Amortization/Accretion

-

Transfers in to Level 3

82,952

Transfers out of Level 3

(33,302)

Ending Balance

$ 359,788

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at September 30, 2011

$ (11,579)

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

Income Tax Information

At September 30, 2011, the cost of investment securities for income tax purposes was $50,988,296,000. Net unrealized appreciation aggregated $17,222,897,000, of which $20,172,354,000 related to appreciated investment securities and $2,949,457,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent 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 significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated prices received from independent pricing services or from dealers who make markets in such securities. For corporate bonds, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These 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 each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly Report

The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please

see the fund's most recent prospectus and annual report.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Contrafund'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 Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

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.

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 Contrafund

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 2011

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/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

November 29, 2011

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

November 29, 2011