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 811-1352

Fidelity Devonshire Trust
(Exact name of registrant as specified in charter)

245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Scott C. Goebel, 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:	January 31

Date of reporting period:	April 30, 2013

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Advisor®
Series Equity-Income Fund

April 30, 2013

1.950933.100

AEDTI-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.1%
	Shares		Value
CONSUMER DISCRETIONARY - 9.3%
Auto Components - 0.2%
Gentex Corp.	83,500		$ 1,878,750
Hotels, Restaurants & Leisure - 1.1%
McDonald's Corp.	37,500		3,830,250
Texas Roadhouse, Inc. Class A	77,300		1,816,550
Yum! Brands, Inc.	39,900		2,717,988
			8,364,788
Media - 4.6%
Comcast Corp. Class A	556,100		22,966,930
DIRECTV (a)	14,200		803,152
Time Warner, Inc.	185,009		11,059,838
			34,829,920
Multiline Retail - 2.4%
Kohl's Corp.	65,100		3,063,606
Target Corp.	211,700		14,937,552
			18,001,158
Specialty Retail - 1.0%
Lowe's Companies, Inc.	145,600		5,593,952
Staples, Inc.	146,527		1,940,017
			7,533,969
TOTAL CONSUMER DISCRETIONARY			70,608,585
CONSUMER STAPLES - 10.6%
Beverages - 1.1%
Molson Coors Brewing Co. Class B	44,300		2,285,880
The Coca-Cola Co.	138,600		5,866,938
			8,152,818
Food & Staples Retailing - 3.0%
CVS Caremark Corp.	26,700		1,553,406
Safeway, Inc.	113,499		2,555,997
Sysco Corp.	71,100		2,478,546
Wal-Mart Stores, Inc.	49,300		3,831,596
Walgreen Co.	256,245		12,686,690
			23,106,235
Food Products - 1.4%
Kellogg Co.	160,100		10,412,904
Household Products - 2.9%
Procter & Gamble Co.	285,690		21,932,421
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Tobacco - 2.2%
Altria Group, Inc.	276,100		$ 10,080,411
Lorillard, Inc.	99,879		4,283,810
Philip Morris International, Inc.	26,400		2,523,576
			16,887,797
TOTAL CONSUMER STAPLES			80,492,175
ENERGY - 14.2%
Energy Equipment & Services - 1.1%
Halliburton Co.	44,900		1,920,373
National Oilwell Varco, Inc.	27,800		1,813,116
Noble Corp.	76,200		2,857,500
Schlumberger Ltd.	22,244		1,655,621
			8,246,610
Oil, Gas & Consumable Fuels - 13.1%
Apache Corp.	59,195		4,373,327
Chevron Corp.	285,321		34,812,015
EV Energy Partners LP	41,600		1,936,896
Exxon Mobil Corp.	328,100		29,197,619
Hess Corp.	41,800		3,017,124
Holly Energy Partners LP	36,300		1,426,590
HollyFrontier Corp.	34,200		1,691,190
Legacy Reserves LP	36,700		978,973
Markwest Energy Partners LP	52,400		3,311,680
Murphy Oil Corp.	31,300		1,943,417
Occidental Petroleum Corp.	64,778		5,782,084
Pioneer Southwest Energy Partners LP	31,200		817,440
The Williams Companies, Inc.	224,100		8,544,933
Tsakos Energy Navigation Ltd.	92,703		350,417
Western Gas Equity Partners LP	5,700		202,635
Williams Partners LP	19,600		1,071,140
			99,457,480
TOTAL ENERGY			107,704,090
FINANCIALS - 23.3%
Capital Markets - 3.4%
Apollo Investment Corp.	307,900		2,712,599
Artisan Partners Asset Management, Inc.	9,200		343,160
BlackRock, Inc. Class A	17,900		4,770,350
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
Charles Schwab Corp.	264,900		$ 4,492,704
KKR & Co. LP	193,100		4,055,100
Morgan Stanley	340,200		7,535,430
The Blackstone Group LP	91,900		1,888,545
			25,797,888
Commercial Banks - 6.9%
CIT Group, Inc. (a)	16,800		714,168
Comerica, Inc.	91,700		3,324,125
Cullen/Frost Bankers, Inc.	45,200		2,730,532
M&T Bank Corp.	55,600		5,571,120
PNC Financial Services Group, Inc.	22,600		1,534,088
SunTrust Banks, Inc.	41,100		1,202,175
U.S. Bancorp	206,700		6,878,976
Wells Fargo & Co.	802,600		30,482,748
			52,437,932
Diversified Financial Services - 4.8%
Bank of America Corp.	158,503		1,951,172
JPMorgan Chase & Co.	613,500		30,067,635
KKR Financial Holdings LLC	451,566		4,827,241
			36,846,048
Insurance - 5.8%
ACE Ltd.	73,000		6,507,220
AFLAC, Inc.	97,000		5,280,680
Assured Guaranty Ltd.	65,600		1,353,328
Hanover Insurance Group, Inc.	38,800		1,956,684
MetLife, Inc.	494,200		19,268,858
Prudential Financial, Inc.	96,700		5,842,614
Validus Holdings Ltd.	101,400		3,915,054
			44,124,438
Real Estate Investment Trusts - 2.3%
American Capital Agency Corp.	75,100		2,501,581
Annaly Capital Management, Inc.	302,100		4,815,474
CommonWealth REIT	33,650		751,405
DCT Industrial Trust, Inc.	62,900		492,507
First Potomac Realty Trust	57,633		922,128
Home Properties, Inc.	24,800		1,598,608
Lexington Corporate Properties Trust	39,300		503,433
Rayonier, Inc.	49,800		2,959,116
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - continued
Retail Properties America, Inc.	95,800		$ 1,466,698
Ventas, Inc.	15,300		1,218,339
			17,229,289
Thrifts & Mortgage Finance - 0.1%
Radian Group, Inc.	47,100		562,845
TOTAL FINANCIALS			176,998,440
HEALTH CARE - 12.1%
Biotechnology - 0.6%
Amgen, Inc.	27,915		2,909,022
PDL BioPharma, Inc. (d)	158,200		1,224,468
			4,133,490
Health Care Equipment & Supplies - 0.7%
Baxter International, Inc.	14,200		992,154
Covidien PLC	41,900		2,674,896
St. Jude Medical, Inc.	44,800		1,846,656
			5,513,706
Health Care Providers & Services - 2.6%
Aetna, Inc.	74,200		4,262,048
Quest Diagnostics, Inc.	45,435		2,559,354
UnitedHealth Group, Inc.	66,241		3,969,823
WellPoint, Inc.	121,092		8,830,029
			19,621,254
Health Care Technology - 0.1%
Quality Systems, Inc.	36,760		656,901
Pharmaceuticals - 8.1%
AbbVie, Inc.	118,500		5,456,925
Eli Lilly & Co.	96,300		5,333,094
Johnson & Johnson	229,500		19,560,285
Merck & Co., Inc.	385,000		18,095,000
Pfizer, Inc.	345,785		10,051,970
Warner Chilcott PLC	202,353		2,909,836
			61,407,110
TOTAL HEALTH CARE			91,332,461
Common Stocks - continued
	Shares		Value
INDUSTRIALS - 9.4%
Aerospace & Defense - 1.0%
Raytheon Co.	56,650		$ 3,477,177
United Technologies Corp.	48,400		4,418,436
			7,895,613
Air Freight & Logistics - 2.0%
C.H. Robinson Worldwide, Inc.	81,400		4,834,346
United Parcel Service, Inc. Class B	123,000		10,558,320
			15,392,666
Commercial Services & Supplies - 1.3%
Pitney Bowes, Inc. (d)	58,600		801,062
Republic Services, Inc.	254,100		8,659,728
			9,460,790
Electrical Equipment - 0.8%
Eaton Corp. PLC	20,300		1,246,623
Emerson Electric Co.	32,900		1,826,279
Hubbell, Inc. Class B	15,556		1,492,754
Rockwell Automation, Inc.	13,000		1,102,140
			5,667,796
Industrial Conglomerates - 2.7%
General Electric Co.	929,800		20,725,242
Machinery - 1.2%
Briggs & Stratton Corp.	42,105		946,941
Cummins, Inc.	14,600		1,553,294
Illinois Tool Works, Inc.	23,700		1,530,072
Stanley Black & Decker, Inc.	66,500		4,974,865
			9,005,172
Road & Rail - 0.4%
CSX Corp.	137,600		3,383,584
TOTAL INDUSTRIALS			71,530,863
INFORMATION TECHNOLOGY - 9.7%
Communications Equipment - 2.2%
Cisco Systems, Inc.	811,983		16,986,684
Computers & Peripherals - 0.6%
Apple, Inc.	9,796		4,337,179
IT Services - 3.9%
Fidelity National Information Services, Inc.	14,500		609,725
IBM Corp.	36,000		7,291,440
Paychex, Inc.	547,600		19,938,116
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - continued
The Western Union Co.	65,100		$ 964,131
Visa, Inc. Class A	6,400		1,078,144
			29,881,556
Semiconductors & Semiconductor Equipment - 1.4%
Applied Materials, Inc.	570,200		8,273,602
KLA-Tencor Corp.	37,795		2,050,379
			10,323,981
Software - 1.6%
CA Technologies, Inc.	106,200		2,864,214
Microsoft Corp.	267,107		8,841,242
			11,705,456
TOTAL INFORMATION TECHNOLOGY			73,234,856
MATERIALS - 0.5%
Chemicals - 0.3%
Eastman Chemical Co.	21,785		1,451,970
RPM International, Inc.	30,665		993,546
			2,445,516
Metals & Mining - 0.2%
Commercial Metals Co.	104,725		1,531,080
TOTAL MATERIALS			3,976,596
TELECOMMUNICATION SERVICES - 4.0%
Diversified Telecommunication Services - 4.0%
AT&T, Inc.	431,700		16,171,482
CenturyLink, Inc.	111,900		4,204,083
Verizon Communications, Inc.	183,400		9,887,094
			30,262,659
UTILITIES - 4.0%
Electric Utilities - 3.2%
Duke Energy Corp.	52,800		3,970,560
Edison International	31,300		1,683,940
FirstEnergy Corp.	76,500		3,564,900
Hawaiian Electric Industries, Inc.	40,800		1,154,640
Northeast Utilities	48,700		2,207,571
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Electric Utilities - continued
PPL Corp.	233,349		$ 7,789,190
Southern Co.	78,200		3,771,586
			24,142,387
Multi-Utilities - 0.8%
PG&E Corp.	50,800		2,460,752
Sempra Energy	47,600		3,943,660
			6,404,412
TOTAL UTILITIES			30,546,799
TOTAL COMMON STOCKS (Cost $661,220,513)		736,687,524
Money Market Funds - 3.1%

Fidelity Cash Central Fund, 0.13% (b)	21,737,230		21,737,230
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	2,138,315		2,138,315
TOTAL MONEY MARKET FUNDS (Cost $23,875,545)		23,875,545
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $685,096,058)			760,563,069
NET OTHER ASSETS (LIABILITIES) - (0.2)%			(1,853,103)
NET ASSETS - 100%		$ 758,709,966

Legend

(a) Non-income producing

(b) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 6,929
Fidelity Securities Lending Cash Central Fund	11,466
Total	$ 18,395

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. 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, please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $685,393,961. Net unrealized appreciation aggregated $75,169,108, of which $77,573,812 related to appreciated investment securities and $2,404,704 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

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 Advisor®
Series Stock Selector
Large Cap Value Fund

April 30, 2013

1.950918.100

ALDTI-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.9%
	Shares		Value
CONSUMER DISCRETIONARY - 8.5%
Auto Components - 1.3%
Delphi Automotive PLC	144,042		$ 6,656,181
TRW Automotive Holdings Corp. (a)	58,577		3,518,720
			10,174,901
Household Durables - 1.3%
Jarden Corp. (a)	79,423		3,574,829
Whirlpool Corp.	52,539		6,004,157
			9,578,986
Internet & Catalog Retail - 0.6%
Liberty Media Corp. Interactive Series A (a)	231,086		4,919,821
Media - 2.7%
Comcast Corp. Class A	262,931		10,859,050
News Corp. Class A	315,260		9,763,602
			20,622,652
Multiline Retail - 1.9%
Macy's, Inc.	121,100		5,401,060
Target Corp.	126,401		8,918,855
			14,319,915
Specialty Retail - 0.7%
Staples, Inc.	376,800		4,988,832
TOTAL CONSUMER DISCRETIONARY			64,605,107
CONSUMER STAPLES - 7.6%
Beverages - 1.4%
Coca-Cola Enterprises, Inc.	95,600		3,501,828
Dr. Pepper Snapple Group, Inc.	53,400		2,607,522
Molson Coors Brewing Co. Class B	84,653		4,368,095
			10,477,445
Food & Staples Retailing - 1.5%
Wal-Mart Stores, Inc.	49,732		3,865,171
Walgreen Co.	160,983		7,970,268
			11,835,439
Food Products - 2.6%
Archer Daniels Midland Co.	146,608		4,975,876
Mondelez International, Inc.	329,800		10,372,210
The J.M. Smucker Co.	42,915		4,430,115
			19,778,201
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Household Products - 1.7%
Procter & Gamble Co.	171,687		$ 13,180,411
Tobacco - 0.4%
Lorillard, Inc.	64,595		2,770,480
TOTAL CONSUMER STAPLES			58,041,976
ENERGY - 15.1%
Energy Equipment & Services - 1.8%
Cameron International Corp. (a)	105,800		6,511,990
National Oilwell Varco, Inc.	108,376		7,068,283
			13,580,273
Oil, Gas & Consumable Fuels - 13.3%
Anadarko Petroleum Corp.	139,600		11,832,496
Energen Corp.	119,800		5,680,916
Exxon Mobil Corp.	542,700		48,294,872
Occidental Petroleum Corp.	247,382		22,081,317
Phillips 66	152,300		9,282,685
The Williams Companies, Inc.	109,259		4,166,046
			101,338,332
TOTAL ENERGY			114,918,605
FINANCIALS - 26.4%
Capital Markets - 3.2%
BlackRock, Inc. Class A	46,700		12,445,550
State Street Corp.	200,300		11,711,541
			24,157,091
Commercial Banks - 8.2%
CIT Group, Inc. (a)	188,000		7,991,880
PNC Financial Services Group, Inc.	162,900		11,057,652
Popular, Inc. (a)	154,400		4,398,856
U.S. Bancorp	404,000		13,445,120
Wells Fargo & Co.	663,500		25,199,730
			62,093,238
Consumer Finance - 1.5%
Capital One Financial Corp.	194,900		11,261,322
Diversified Financial Services - 0.9%
The NASDAQ Stock Market, Inc.	228,435		6,734,264
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - 10.1%
ACE Ltd.	112,300		$ 10,010,422
AFLAC, Inc.	135,000		7,349,400
Axis Capital Holdings Ltd.	203,600		9,086,668
Berkshire Hathaway, Inc. Class B (a)	249,200		26,494,944
MetLife, Inc.	219,900		8,573,901
Reinsurance Group of America, Inc.	104,600		6,542,730
The Travelers Companies, Inc.	107,200		9,155,952
			77,214,017
Real Estate Investment Trusts - 1.7%
Boston Properties, Inc.	68,600		7,506,898
Simon Property Group, Inc.	30,500		5,431,135
			12,938,033
Real Estate Management & Development - 0.8%
CBRE Group, Inc. (a)	247,510		5,994,692
TOTAL FINANCIALS			200,392,657
HEALTH CARE - 11.4%
Biotechnology - 0.0%
Prothena Corp. PLC (a)	9		74
Health Care Equipment & Supplies - 0.8%
St. Jude Medical, Inc.	141,800		5,844,996
Health Care Providers & Services - 4.9%
HCA Holdings, Inc.	181,400		7,236,046
Quest Diagnostics, Inc.	132,400		7,458,092
UnitedHealth Group, Inc.	248,000		14,862,640
WellPoint, Inc.	107,800		7,860,776
			37,417,554
Pharmaceuticals - 5.7%
Endo Health Solutions, Inc. (a)	122,000		4,470,080
Johnson & Johnson	124,405		10,603,038
Merck & Co., Inc.	505,900		23,777,300
Pfizer, Inc.	150,700		4,380,849
			43,231,267
TOTAL HEALTH CARE			86,493,891
Common Stocks - continued
	Shares		Value
INDUSTRIALS - 8.3%
Aerospace & Defense - 0.8%
General Dynamics Corp.	86,590		$ 6,404,196
Air Freight & Logistics - 0.9%
FedEx Corp.	68,283		6,419,285
Commercial Services & Supplies - 0.6%
Waste Management, Inc.	104,062		4,264,461
Construction & Engineering - 1.7%
AECOM Technology Corp. (a)	211,496		6,148,189
URS Corp.	153,386		6,736,713
			12,884,902
Industrial Conglomerates - 3.1%
Danaher Corp.	39,401		2,401,097
General Electric Co.	955,242		21,292,344
			23,693,441
Machinery - 0.3%
Terex Corp. (a)	86,601		2,476,789
Professional Services - 0.3%
Towers Watson & Co.	29,750		2,169,370
Road & Rail - 0.6%
CSX Corp.	191,982		4,720,837
TOTAL INDUSTRIALS			63,033,281
INFORMATION TECHNOLOGY - 6.0%
Communications Equipment - 1.4%
Cisco Systems, Inc.	500,293		10,466,130
Computers & Peripherals - 0.8%
Hewlett-Packard Co.	301,900		6,219,140
Electronic Equipment & Components - 1.3%
Corning, Inc.	211,000		3,059,500
Jabil Circuit, Inc.	217,659		3,874,330
Tech Data Corp. (a)	55,823		2,608,609
			9,542,439
IT Services - 0.6%
Amdocs Ltd.	47,500		1,695,750
Global Payments, Inc.	60,765		2,819,496
			4,515,246
Semiconductors & Semiconductor Equipment - 1.6%
Avago Technologies Ltd.	99,243		3,171,806
Broadcom Corp. Class A	110,910		3,992,760
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Freescale Semiconductor Holdings I Ltd. (a)	115,111		$ 1,781,918
Intersil Corp. Class A	238,777		1,852,910
ON Semiconductor Corp. (a)	200,200		1,573,572
			12,372,966
Software - 0.3%
Symantec Corp. (a)	98,734		2,399,236
TOTAL INFORMATION TECHNOLOGY			45,515,157
MATERIALS - 3.4%
Chemicals - 2.5%
Air Products & Chemicals, Inc.	66,500		5,782,840
Ashland, Inc.	42,600		3,629,946
Eastman Chemical Co.	60,600		4,038,990
LyondellBasell Industries NV Class A	97,800		5,936,460
			19,388,236
Containers & Packaging - 0.9%
Rock-Tenn Co. Class A	65,900		6,599,226
TOTAL MATERIALS			25,987,462
TELECOMMUNICATION SERVICES - 3.4%
Diversified Telecommunication Services - 2.8%
AT&T, Inc.	341,905		12,807,761
CenturyLink, Inc.	194,542		7,308,943
Frontier Communications Corp. (d)	280,513		1,166,934
			21,283,638
Wireless Telecommunication Services - 0.6%
NII Holdings, Inc. (a)(d)	517,057		4,498,396
TOTAL TELECOMMUNICATION SERVICES			25,782,034
UTILITIES - 6.8%
Electric Utilities - 3.4%
Edison International	100,000		5,380,000
ITC Holdings Corp.	50,800		4,684,776
NextEra Energy, Inc.	54,000		4,429,620
Northeast Utilities	163,239		7,399,624
NV Energy, Inc.	168,200		3,638,166
			25,532,186
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 0.8%
Atmos Energy Corp.	62,569		$ 2,776,187
Questar Corp.	145,059		3,683,048
			6,459,235
Multi-Utilities - 2.6%
CMS Energy Corp.	160,800		4,814,352
NiSource, Inc.	137,300		4,219,229
PG&E Corp.	75,500		3,657,220
Sempra Energy	84,500		7,000,825
			19,691,626
TOTAL UTILITIES			51,683,047
TOTAL COMMON STOCKS (Cost $656,497,860)		736,453,217

U.S. Treasury Obligations - 0.1%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.04% to 0.05% 7/5/13 to 7/18/13 (e) (Cost $209,983)	$ 210,000	209,988

Money Market Funds - 3.3%
	Shares
Fidelity Cash Central Fund, 0.13% (b)	22,839,189		22,839,189
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	2,379,900		2,379,900
TOTAL MONEY MARKET FUNDS (Cost $25,219,089)		25,219,089
TOTAL INVESTMENT PORTFOLIO - 100.3% (Cost $681,926,932)			761,882,294
NET OTHER ASSETS (LIABILITIES) - (0.3)%			(2,019,351)
NET ASSETS - 100%		$ 759,862,943

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
92 ICE Russell 1000 Value Index Contracts	June 2013	$ 7,432,680	$ 30,768

The face value of futures purchased as a percentage of net assets is 1%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $209,988.

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 6,193
Fidelity Securities Lending Cash Central Fund	10,982
Total	$ 17,175

Other Information

The following is a summary of the inputs used, as of April 30, 2013, 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 table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 64,605,107	$ 64,605,107	$ -	$ -
Consumer Staples	58,041,976	58,041,976	-	-
Energy	114,918,605	114,918,605	-	-
Financials	200,392,657	200,392,657	-	-
Health Care	86,493,891	86,493,891	-	-
Industrials	63,033,281	63,033,281	-	-
Information Technology	45,515,157	45,515,157	-	-
Materials	25,987,462	25,987,462	-	-
Telecommunication Services	25,782,034	25,782,034	-	-
Utilities	51,683,047	51,683,047	-	-
U.S. Government and Government Agency Obligations	209,988	-	209,988	-
Money Market Funds	25,219,089	25,219,089	-	-
Total Investments in Securities:	$ 761,882,294	$ 761,672,306	$ 209,988	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 30,768	$ 30,768	$ -	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $682,017,749. Net unrealized appreciation aggregated $79,864,545, of which $81,988,703 related to appreciated investment securities and $2,124,158 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. 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:

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 vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded 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 each business day and are categorized as Level 1 in the hierarchy.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Equity-Income Fund

April 30, 2013

1.800336.109

EQU-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 89.4%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 9.1%
Auto Components - 0.2%
Gentex Corp.	740,772		$ 16,667
Diversified Consumer Services - 0.1%
Strayer Education, Inc. (e)	214,950		10,180
Hotels, Restaurants & Leisure - 1.6%
CEC Entertainment, Inc.	296,876		9,907
Cedar Fair LP (depositary unit)	193,119		8,111
McDonald's Corp.	695,436		71,032
Texas Roadhouse, Inc. Class A	1,164,252		27,360
The Restaurant Group PLC	567,053		4,245
Yum! Brands, Inc.	364,217		24,810
			145,465
Household Durables - 0.0%
Coway Co. Ltd.	61,350		3,108
Media - 4.3%
Comcast Corp. Class A	5,928,806		244,860
DIRECTV (a)	156,911		8,875
Informa PLC	315,423		2,342
Ipsos SA	40,777		1,367
Time Warner, Inc.	2,196,473		131,305
			388,749
Multiline Retail - 1.8%
Kohl's Corp.	505,438		23,786
Springland International Holdings Ltd.	3,238,000		1,686
Target Corp.	1,920,549		135,514
			160,986
Specialty Retail - 0.9%
Dunelm Group PLC	135,200		1,775
Inditex SA	16,609		2,232
L Brands, Inc.	40,300		2,032
Lowe's Companies, Inc.	1,321,192		50,760
Point, Inc.	110,320		5,359
Staples, Inc.	1,209,804		16,018
WH Smith PLC	336,292		3,863
Workman Co. Ltd.	23,200		762
			82,801
Textiles, Apparel & Luxury Goods - 0.2%
Coach, Inc.	246,106		14,486
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - continued
Hugo Boss AG	16,300		$ 1,897
VF Corp.	17,900		3,190
			19,573
TOTAL CONSUMER DISCRETIONARY			827,529
CONSUMER STAPLES - 10.2%
Beverages - 2.3%
Anheuser-Busch InBev SA NV	243,122		23,357
Dr. Pepper Snapple Group, Inc.	67,719		3,307
Molson Coors Brewing Co. Class B	490,295		25,299
PepsiCo, Inc.	1,178,887		97,223
The Coca-Cola Co.	1,352,146		57,236
			206,422
Food & Staples Retailing - 2.5%
Clicks Group Ltd.	292,223		1,863
CVS Caremark Corp.	596,700		34,716
Loblaw Companies Ltd. (e)	38,600		1,638
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.	64,504		2,980
Safeway, Inc. (e)	1,607,771		36,207
Sysco Corp.	454,675		15,850
Wal-Mart Stores, Inc.	551,791		42,885
Walgreen Co.	1,869,249		92,547
			228,686
Food Products - 1.0%
Astral Foods Ltd.	179,340		1,889
Hilton Food Group PLC	500,312		2,763
Kellogg Co.	1,237,491		80,486
Nestle Foods Nigeria PLC	194,336		1,095
Nestle SA	51,489		3,672
Unilever NV (Certificaten Van Aandelen) (Bearer)	65,300		2,783
			92,688
Household Products - 2.5%
Procter & Gamble Co.	2,892,829		222,082
Reckitt Benckiser Group PLC	61,811		4,509
			226,591
Tobacco - 1.9%
Altria Group, Inc.	1,729,239		63,135
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Tobacco - continued
British American Tobacco PLC:
(United Kingdom)	132,700		$ 7,356
sponsored ADR	195,572		21,712
Imperial Tobacco Group PLC	46,782		1,671
Japan Tobacco, Inc.	102,900		3,890
KT&G Corp.	22,638		1,630
Lorillard, Inc.	1,130,292		48,478
Philip Morris International, Inc.	268,078		25,626
Swedish Match Co. AB (e)	79,400		2,754
			176,252
TOTAL CONSUMER STAPLES			930,639
ENERGY - 11.3%
Energy Equipment & Services - 1.2%
Ensco PLC Class A	264,071		15,232
Halliburton Co.	421,070		18,009
National Oilwell Varco, Inc.	222,639		14,521
Noble Corp.	825,302		30,949
Schlumberger Ltd.	249,800		18,593
Trinidad Drilling Ltd.	1,688,100		11,528
			108,832
Oil, Gas & Consumable Fuels - 10.1%
Apache Corp.	552,703		40,834
BG Group PLC	232,000		3,908
BP PLC	6,260		45
Canadian Natural Resources Ltd.	1,135,200		33,297
Chevron Corp.	2,124,697		259,234
ENI SpA	110,300		2,632
EV Energy Partners LP	480,797		22,386
Exxon Mobil Corp.	2,236,884		199,060
Holly Energy Partners LP	415,144		16,315
HollyFrontier Corp.	358,558		17,731
Legacy Reserves LP	415,700		11,089
Markwest Energy Partners LP	621,488		39,278
Occidental Petroleum Corp.	724,400		64,660
Penn West Petroleum Ltd. (e)	1,190,445		10,989
Royal Dutch Shell PLC:
Class A (United Kingdom)	178,965		6,093
Class A sponsored ADR	626,613		42,591
Common Stocks - continued
	Shares		Value (000s)
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Southcross Energy Partners LP	197,500		$ 4,272
Suncor Energy, Inc.	1,455,900		45,392
Tesoro Logistics LP	21,200		1,264
The Williams Companies, Inc.	2,124,294		80,999
Total SA	44,100		2,220
Tsakos Energy Navigation Ltd.	1,026,250		3,879
Western Gas Equity Partners LP	61,267		2,178
Western Gas Partners LP	35,800		2,164
Williams Partners LP	220,600		12,056
			924,566
TOTAL ENERGY			1,033,398
FINANCIALS - 20.2%
Capital Markets - 3.6%
Apollo Investment Corp.	2,258,702		19,899
Artisan Partners Asset Management, Inc.	275,218		10,266
Ashmore Group PLC	3,343,732		20,734
AURELIUS AG	38,730		3,009
BlackRock, Inc. Class A	157,900		42,080
Charles Schwab Corp.	2,503,066		42,452
KKR & Co. LP	3,097,800		65,054
Manning & Napier, Inc. Class A (f)	679,190		11,893
Morgan Stanley	2,313,831		51,251
The Blackstone Group LP	2,973,735		61,110
UBS AG	153,154		2,732
			330,480
Commercial Banks - 5.2%
Australia & New Zealand Banking Group Ltd.	97,202		3,208
Banco Santander Chile	12,730,039		850
Barclays PLC	765,214		3,415
Comerica, Inc.	470,000		17,038
Cullen/Frost Bankers, Inc.	362,697		21,911
DGB Financial Group Co. Ltd.	94,370		1,319
HSBC Holdings PLC (United Kingdom)	1		0
Itau Unibanco Holding SA sponsored ADR	206,000		3,467
M&T Bank Corp.	307,800		30,842
National Penn Bancshares, Inc.	188,300		1,843
PNC Financial Services Group, Inc.	250,000		16,970
Seven Bank Ltd.	888,300		3,154
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Commercial Banks - continued
Standard Chartered PLC (United Kingdom)	1,260,658		$ 31,665
SunTrust Banks, Inc.	866,119		25,334
Svenska Handelsbanken AB (A Shares)	128,000		5,814
U.S. Bancorp	2,162,202		71,958
United Overseas Bank Ltd.	134,000		2,323
Wells Fargo & Co.	6,224,593		236,410
			477,521
Diversified Financial Services - 4.5%
Bank of America Corp.	1,743,916		21,468
Citigroup, Inc.	255,000		11,898
Inversiones La Construccion SA	46,228		886
JPMorgan Chase & Co.	6,494,402		318,284
KKR Financial Holdings LLC	5,221,045		55,813
London Stock Exchange Group PLC	94,000		1,958
			410,307
Insurance - 4.7%
ACE Ltd.	744,827		66,394
AFLAC, Inc.	569,000		30,976
Assured Guaranty Ltd.	738,280		15,231
Berkshire Hathaway, Inc. Class B (a)	217,644		23,140
esure Group PLC	2,656,000		12,264
Fairfax Financial Holdings Ltd. (sub. vtg.)	4,500		1,805
FBD Holdings PLC	80,280		1,304
Hanover Insurance Group, Inc.	348,968		17,598
MetLife, Inc.	3,921,469		152,898
MetLife, Inc. unit	477,100		23,888
Power Corp. of Canada (sub. vtg.)	60,300		1,624
Prudential Financial, Inc.	564,400		34,101
Resolution Ltd.	446,800		1,832
Sampo Oyj (A Shares) (e)	52,500		2,095
Validus Holdings Ltd.	1,078,191		41,629
			426,779
Real Estate Investment Trusts - 2.0%
American Capital Agency Corp.	765,702		25,506
American Tower Corp.	39,300		3,301
Annaly Capital Management, Inc.	1,629,100		25,968
CommonWealth REIT	374,317		8,358
Coresite Realty Corp.	77,703		2,811
DCT Industrial Trust, Inc.	665,600		5,212
First Potomac Realty Trust	506,885		8,110
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Real Estate Investment Trusts - continued
Home Properties, Inc.	245,300		$ 15,812
Japan Retail Fund Investment Corp.	1,308		3,101
Lexington Corporate Properties Trust	458,400		5,872
Rayonier, Inc.	568,261		33,766
Retail Properties America, Inc.	1,470,871		22,519
Silver Bay Realty Trust Corp.	34,167		652
Two Harbors Investment Corp.	699,778		8,383
Ventas, Inc.	152,903		12,176
			181,547
Real Estate Management & Development - 0.2%
Beazer Pre-Owned Rental Homes, Inc. (k)	393,400		8,261
Daito Trust Construction Co. Ltd.	26,100		2,531
Relo Holdings Corp.	47,200		2,654
			13,446
Thrifts & Mortgage Finance - 0.0%
Radian Group, Inc.	245		3
TOTAL FINANCIALS			1,840,083
HEALTH CARE - 12.4%
Biotechnology - 0.5%
Amgen, Inc.	259,910		27,085
Grifols SA ADR	113,944		3,558
PDL BioPharma, Inc. (e)	1,863,326		14,422
			45,065
Health Care Equipment & Supplies - 0.6%
Baxter International, Inc.	124,657		8,710
Covidien PLC	422,600		26,979
St. Jude Medical, Inc.	505,977		20,856
			56,545
Health Care Providers & Services - 2.4%
Aetna, Inc.	884,393		50,800
McKesson Corp.	126,840		13,422
Psychemedics Corp.	113,100		1,262
Quest Diagnostics, Inc.	289,200		16,291
UnitedHealth Group, Inc.	920,000		55,136
WellPoint, Inc.	1,078,272		78,628
			215,539
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Health Care Technology - 0.1%
Quality Systems, Inc.	411,108		$ 7,346
Pharmaceuticals - 8.8%
AbbVie, Inc.	1,366,644		62,934
AstraZeneca PLC sponsored ADR	1,171,000		60,798
Eli Lilly & Co.	848,141		46,970
GlaxoSmithKline PLC	182,800		4,717
Johnson & Johnson	2,511,879		214,087
Merck & Co., Inc.	4,081,246		191,819
Novo Nordisk A/S Series B	10,500		1,848
Pfizer, Inc.	3,807,879		110,695
Roche Holding AG (participation certificate)	25,549		6,386
Sanofi SA	370,064		40,010
Teva Pharmaceutical Industries Ltd. sponsored ADR	901,180		34,506
Warner Chilcott PLC	2,067,200		29,726
			804,496
TOTAL HEALTH CARE			1,128,991
INDUSTRIALS - 9.4%
Aerospace & Defense - 1.4%
Raytheon Co.	666,857		40,932
United Technologies Corp.	949,515		86,681
			127,613
Air Freight & Logistics - 1.7%
C.H. Robinson Worldwide, Inc.	740,700		43,990
United Parcel Service, Inc. Class B	1,309,965		112,447
			156,437
Airlines - 0.1%
Copa Holdings SA Class A	43,700		5,488
Commercial Services & Supplies - 1.3%
Edenred SA	58,200		1,938
Intrum Justitia AB (e)	1,238,600		25,513
Pitney Bowes, Inc. (e)	660,900		9,035
Republic Services, Inc.	2,519,167		85,853
			122,339
Electrical Equipment - 0.6%
Eaton Corp. PLC	192,500		11,821
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Electrical Equipment - continued
Emerson Electric Co.	357,333		$ 19,836
Hubbell, Inc. Class B	226,849		21,768
			53,425
Industrial Conglomerates - 2.2%
General Electric Co.	8,410,010		187,459
Koninklijke Philips Electronics NV	162,557		4,499
Reunert Ltd.	213,200		1,853
Siemens AG	21,839		2,282
			196,093
Machinery - 1.2%
Briggs & Stratton Corp.	422,688		9,506
Cummins, Inc.	140,935		14,994
Douglas Dynamics, Inc.	848,483		11,870
Harsco Corp.	376,207		8,213
Illinois Tool Works, Inc.	268,828		17,356
Muehlbauer Holding AG & Co.	43,045		1,190
Stanley Black & Decker, Inc.	577,278		43,186
			106,315
Marine - 0.0%
Irish Continental Group PLC unit	83,300		2,271
Professional Services - 0.3%
Acacia Research Corp.	146,459		3,489
Dun & Bradstreet Corp.	16,600		1,468
Michael Page International PLC	3,902,783		22,588
			27,545
Road & Rail - 0.3%
Union Pacific Corp.	195,844		28,977
Trading Companies & Distributors - 0.3%
Watsco, Inc.	318,094		26,841
Wolseley PLC	53,079		2,624
			29,465
TOTAL INDUSTRIALS			855,968
INFORMATION TECHNOLOGY - 9.1%
Communications Equipment - 1.8%
Cisco Systems, Inc.	8,053,001		168,469
Computers & Peripherals - 0.6%
Apple, Inc.	121,711		53,888
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
IT Services - 4.4%
Accenture PLC Class A	818,133		$ 66,629
Cognizant Technology Solutions Corp. Class A (a)	287,123		18,606
Fidelity National Information Services, Inc.	209,332		8,802
IBM Corp.	558,292		113,076
Paychex, Inc.	5,130,171		186,790
The Western Union Co.	745,400		11,039
			404,942
Semiconductors & Semiconductor Equipment - 1.1%
Analog Devices, Inc.	74,600		3,282
Applied Materials, Inc.	3,510,100		50,932
Chipbond Technology Corp.	821,000		2,088
KLA-Tencor Corp.	322,535		17,498
Siliconware Precision Industries Co. Ltd. sponsored ADR	3,574,448		21,768
			95,568
Software - 1.2%
CA Technologies, Inc.	568,600		15,335
Microsoft Corp.	2,928,722		96,941
			112,276
TOTAL INFORMATION TECHNOLOGY			835,143
MATERIALS - 0.5%
Chemicals - 0.4%
Akzo Nobel NV	24,392		1,471
Arkema SA	22,400		2,099
BASF AG (e)	24,732		2,310
Clariant AG (Reg.)	129,712		1,897
Eastman Chemical Co.	203,784		13,582
LyondellBasell Industries NV Class A	40,905		2,483
Monsanto Co.	21,954		2,345
RPM International, Inc.	337,400		10,932
			37,119
Metals & Mining - 0.1%
Commercial Metals Co.	921,717		13,476
TOTAL MATERIALS			50,595
Common Stocks - continued
	Shares		Value (000s)
TELECOMMUNICATION SERVICES - 4.5%
Diversified Telecommunication Services - 3.3%
AT&T, Inc.	2,598,909		$ 97,355
CenturyLink, Inc.	647,657		24,332
HKT Trust / HKT Ltd. unit	2,952,000		3,100
LG Telecom Ltd.	306,190		2,891
Nippon Telegraph & Telephone Corp.	41,000		2,039
PT Telkomunikasi Indonesia Tbk Series B	1,826,500		2,201
Telenor ASA	176,200		3,960
Telstra Corp. Ltd.	422,275		2,180
Verizon Communications, Inc.	3,055,592		164,727
			302,785
Wireless Telecommunication Services - 1.2%
Empresa Nacional de Telecomunicaciones SA (ENTEL)	87,402		1,685
Far EasTone Telecommunications Co. Ltd.	579,000		1,412
Mobile TeleSystems OJSC (a)	255,900		2,253
Vodafone Group PLC	33,905,289		103,455
			108,805
TOTAL TELECOMMUNICATION SERVICES			411,590
UTILITIES - 2.7%
Electric Utilities - 1.8%
FirstEnergy Corp.	657,730		30,650
Hawaiian Electric Industries, Inc.	454,800		12,871
ITC Holdings Corp.	31,893		2,941
NextEra Energy, Inc.	391		32
Northeast Utilities	504,835		22,884
PPL Corp.	1,576,486		52,623
Southern Co.	769,025		37,090
SP AusNet unit	1,397,908		1,819
Spark Infrastructure Group unit	996,438		1,849
			162,759
Multi-Utilities - 0.9%
CMS Energy Corp.	13,400		401
GDF Suez (e)	476,400		10,227
PG&E Corp.	466,010		22,574
Sempra Energy	545,243		45,173
			78,375
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - continued
Water Utilities - 0.0%
Aguas Andinas SA	2,404,767		$ 1,915
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR	97,800		1,399
			3,314
TOTAL UTILITIES			244,448
TOTAL COMMON STOCKS (Cost $6,616,578)		8,158,384
Preferred Stocks - 2.3%

Convertible Preferred Stocks - 1.8%
CONSUMER DISCRETIONARY - 0.3%
Automobiles - 0.2%
General Motors Co. 4.75%	408,016		18,965
Media - 0.1%
Interpublic Group of Companies, Inc. 5.25%	7,300		8,981
TOTAL CONSUMER DISCRETIONARY			27,946
ENERGY - 0.1%
Oil, Gas & Consumable Fuels - 0.1%
Apache Corp. 6.00%	108,200		4,579
FINANCIALS - 0.3%
Commercial Banks - 0.2%
Huntington Bancshares, Inc. 8.50%	14,900		19,966
Real Estate Investment Trusts - 0.1%
Health Care REIT, Inc. Series I, 6.50%	146,900		9,829
TOTAL FINANCIALS			29,795
HEALTH CARE - 0.3%
Health Care Equipment & Supplies - 0.1%
Alere, Inc. 3.00%	41,700		10,040
Health Care Providers & Services - 0.2%
HealthSouth Corp. Series A, 6.50%	12,600		15,215
TOTAL HEALTH CARE			25,255
Preferred Stocks - continued
	Shares		Value (000s)
Convertible Preferred Stocks - continued
INDUSTRIALS - 0.2%
Aerospace & Defense - 0.2%
United Technologies Corp. 7.50%	338,600		$ 20,025
MATERIALS - 0.1%
Metals & Mining - 0.1%
ArcelorMittal SA 6.00% (a)	256,000		5,294
Cliffs Natural Resources, Inc. 7.00% (a)	394,600		7,995
			13,289
TELECOMMUNICATION SERVICES - 0.0%
Diversified Telecommunication Services - 0.0%
Intelsat SA Series A, 5.75% (a)	67,000		3,685
UTILITIES - 0.5%
Electric Utilities - 0.4%
NextEra Energy, Inc.:
5.889%	203,449		11,558
Series E, 5.599%	221,000		12,710
PPL Corp. 8.75%	168,700		9,712
			33,980
Multi-Utilities - 0.1%
CenterPoint Energy, Inc. $1.165 ZENS (a)	180,600		8,669
TOTAL UTILITIES			42,649
TOTAL CONVERTIBLE PREFERRED STOCKS			167,223
Nonconvertible Preferred Stocks - 0.5%
CONSUMER DISCRETIONARY - 0.2%
Automobiles - 0.2%
Volkswagen AG (e)	82,909		16,804
FINANCIALS - 0.3%
Consumer Finance - 0.3%
Ally Financial, Inc. 7.00% (g)	28,901		28,612
TOTAL NONCONVERTIBLE PREFERRED STOCKS			45,416
TOTAL PREFERRED STOCKS (Cost $189,832)		212,639

Corporate Bonds - 3.6%
		Principal Amount (000s)(d)		Value (000s)
Convertible Bonds - 3.4%
CONSUMER DISCRETIONARY - 0.1%
Automobiles - 0.1%
Volkswagen International Finance NV 5.5% 11/9/15 (g)	EUR	9,200		$ 12,528
ENERGY - 0.4%
Oil, Gas & Consumable Fuels - 0.4%
Alpha Natural Resources, Inc. 2.375% 4/15/15		$ 3,380		3,173
Amyris, Inc. 3% 2/27/17		2,101		1,470
Chesapeake Energy Corp. 2.5% 5/15/37		9,670		9,378
Cobalt International Energy, Inc. 2.625% 12/1/19		3,300		3,696
Massey Energy Co. 3.25% 8/1/15		12,090		11,486
Peabody Energy Corp. 4.75% 12/15/66		2,386		1,927
Ship Finance International Ltd. 3.25% 2/1/18		5,870		5,800
Western Refining, Inc. 5.75% 6/15/14		590		1,877
				38,807
FINANCIALS - 0.4%
Insurance - 0.1%
Fidelity National Financial, Inc. 4.25% 8/15/18		6,180		8,517
Thrifts & Mortgage Finance - 0.3%
MGIC Investment Corp. 9% 4/1/63 (g)		17,382		17,925
Radian Group, Inc. 2.25% 3/1/19		4,470		5,886
				23,811
TOTAL FINANCIALS				32,328
HEALTH CARE - 0.5%
Biotechnology - 0.0%
InterMune, Inc. 2.5% 12/15/17		860		914
Theravance, Inc. 2.125% 1/15/23		2,670		3,756
				4,670
Health Care Equipment & Supplies - 0.1%
Teleflex, Inc. 3.875% 8/1/17		6,640		9,133
Health Care Providers & Services - 0.4%
Molina Healthcare, Inc. 1.125% 1/15/20 (g)		3,160		3,332
WellPoint, Inc. 2.75% 10/15/42 (g)		27,800		33,160
				36,492
TOTAL HEALTH CARE				50,295
Corporate Bonds - continued
		Principal Amount (000s)(d)		Value (000s)
Convertible Bonds - continued
INDUSTRIALS - 0.4%
Commercial Services & Supplies - 0.2%
Covanta Holding Corp. 3.25% 6/1/14		$ 16,680		$ 21,601
Construction & Engineering - 0.2%
MasTec, Inc.:
4% 6/15/14		5,860		10,500
4.25% 12/15/14		1,790		3,306
				13,806
TOTAL INDUSTRIALS				35,407
INFORMATION TECHNOLOGY - 1.5%
Communications Equipment - 0.2%
InterDigital, Inc. 2.5% 3/15/16		11,920		13,082
Liberty Interactive LLC 0.75% 3/30/43 (g)		3,000		3,109
				16,191
Computers & Peripherals - 0.2%
EMC Corp. 1.75% 12/1/13		5,650		7,957
SanDisk Corp. 1.5% 8/15/17		8,600		10,858
				18,815
Internet Software & Services - 0.1%
VeriSign, Inc. 3.25% 8/15/37		6,990		10,223
IT Services - 0.1%
CACI International, Inc. 2.125% 5/1/14		4,900		5,598
Semiconductors & Semiconductor Equipment - 0.5%
GT Advanced Technologies, Inc. 3% 10/1/17		15,320		13,003
Intel Corp. 3.25% 8/1/39		12,130		15,542
Microchip Technology, Inc. 2.125% 12/15/37		3,500		4,953
Micron Technology, Inc.:
1.625% 2/15/33 (g)		700		795
2.125% 2/15/33 (g)		700		783
3.125% 5/1/32 (g)		12,070		14,612
				49,688
Software - 0.4%
Nuance Communications, Inc.:
2.75% 8/15/27		4,480		5,412
Corporate Bonds - continued
		Principal Amount (000s)(d)		Value (000s)
Convertible Bonds - continued
INFORMATION TECHNOLOGY - continued
Software - continued
Nuance Communications, Inc.: - continued
2.75% 11/1/31		$ 25,250		$ 26,370
Symantec Corp. 1% 6/15/13		1,240		1,573
				33,355
TOTAL INFORMATION TECHNOLOGY				133,870
TELECOMMUNICATION SERVICES - 0.1%
Wireless Telecommunication Services - 0.1%
Clearwire Communications LLC/Clearwire Finance, Inc. 8.25% 12/1/40 (g)		8,370		8,966
TOTAL CONVERTIBLE BONDS				312,201
Nonconvertible Bonds - 0.2%
FINANCIALS - 0.2%
Consumer Finance - 0.1%
GMAC LLC 8% 11/1/31		2,370		3,122
Diversified Financial Services - 0.1%
Goldman Sachs Capital II 4% (h)(i)		11,520		9,827
TOTAL FINANCIALS				12,949
TOTAL CORPORATE BONDS (Cost $297,937)			325,150

Other - 0.4%

ENERGY - 0.4%
Oil, Gas & Consumable Fuels - 0.4%
EQTY ER Holdings, LLC 12% 1/28/18 (f)(k)(j)	22,667		22,667
	Shares
EQTY ER Holdings, LLC (f)(k)(j)	11,333,334		11,333
TOTAL OTHER (Cost $34,000)		34,000
Money Market Funds - 5.1%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.13% (b)	377,047,186		$ 377,047
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	93,076,044		93,076
TOTAL MONEY MARKET FUNDS (Cost $470,123)		470,123
TOTAL INVESTMENT PORTFOLIO - 100.8% (Cost $7,608,470)			9,200,296
NET OTHER ASSETS (LIABILITIES) - (0.8)%			(76,524)
NET ASSETS - 100%		$ 9,123,772

Currency Abbreviations
EUR	-	European Monetary Unit

Legend

(a) Non-income producing

(d) Amount is stated in United States dollars unless otherwise noted.

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

(f) Affiliated company

(g) 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 $123,822,000 or 1.4% of net assets.

(h) Security is perpetual in nature with no stated maturity date.

(i) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

(j) Investments represent a non-operating interest in oil and gas wells through an entity owned by the fund that is treated as a corporation for U.S. tax purposes.

(k) 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 $42,261,000 or 0.5% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Beazer Pre-Owned Rental Homes, Inc.	5/3/12 - 10/23/12	$ 7,868
EQTY ER Holdings, LLC 12% 1/28/18	1/29/13	$ 22,667
EQTY ER Holdings, LLC	1/29/13	$ 11,333

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	$ 128
Fidelity Securities Lending Cash Central Fund	517
Total	$ 645

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
EQTY ER Holdings, LLC 12% 1/28/18	$ 22,667	$ -	$ -	$ -	$ 22,667
EQTY ER Holdings, LLC	11,333	-	-	-	11,333
Manning & Napier, Inc. Class A	9,577	-	-	109	11,893
Total	$ 43,577	$ -	$ -	$ 109	$ 45,893

Other Information

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 872,279	$ 857,177	$ 15,102	$ -
Consumer Staples	930,639	889,581	41,058	-
Energy	1,037,977	1,026,987	10,990	-
Financials	1,898,490	1,810,313	79,916	8,261
Health Care	1,154,246	1,092,456	61,790	-
Industrials	875,993	869,212	6,781	-
Information Technology	835,143	835,143	-	-
Materials	63,884	50,595	13,289	-
Telecommunication Services	415,275	307,580	107,695	-
Utilities	287,097	257,158	29,939	-
Corporate Bonds	325,150	-	325,150	-
Other/Energy	34,000	-	-	34,000
Money Market Funds	470,123	470,123	-	-
Total Investments in Securities:	$ 9,200,296	$ 8,466,325	$ 691,710	$ 42,261

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $7,627,907,000. Net unrealized appreciation aggregated $1,572,389,000, of which $1,701,072,000 related to appreciated investment securities and $128,683,000 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. 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:

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. For corporate bonds, pricing vendors utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as 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 vendors. 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 each business day and are categorized as Level 1 in the hierarchy.

Quarterly Report

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

Quarterly Holdings Report

for

Fidelity ® Large Cap Growth Fund

April 30, 2013

1.800355.109

LCG-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.7%
	Shares		Value
CONSUMER DISCRETIONARY - 18.0%
Automobiles - 0.2%
Harley-Davidson, Inc.	5,200		$ 284,180
Distributors - 0.8%
LKQ Corp. (a)	59,229		1,426,234
Diversified Consumer Services - 0.3%
H&R Block, Inc.	15,400		427,196
Hotels, Restaurants & Leisure - 1.9%
Las Vegas Sands Corp.	5,464		307,350
McDonald's Corp.	11,178		1,141,721
Starbucks Corp.	28,474		1,732,358
Yum! Brands, Inc.	1,092		74,387
			3,255,816
Household Durables - 1.2%
Toll Brothers, Inc. (a)	28,770		987,099
Whirlpool Corp.	8,599		982,694
			1,969,793
Internet & Catalog Retail - 2.4%
Amazon.com, Inc. (a)	9,647		2,448,505
priceline.com, Inc. (a)	2,260		1,572,937
			4,021,442
Leisure Equipment & Products - 0.4%
Mattel, Inc.	15,200		694,032
Media - 2.1%
CBS Corp. Class B	23,174		1,060,906
Comcast Corp. Class A	58,444		2,413,737
			3,474,643
Multiline Retail - 0.5%
Dollar General Corp. (a)	17,500		911,575
Specialty Retail - 5.0%
American Eagle Outfitters, Inc.	62,621		1,217,978
Dick's Sporting Goods, Inc.	18,188		874,843
Home Depot, Inc.	47,593		3,490,947
Lowe's Companies, Inc.	18,494		710,539
Rent-A-Center, Inc.	10,900		380,737
Ross Stores, Inc.	19,906		1,315,189
Tractor Supply Co.	3,989		427,501
			8,417,734
Textiles, Apparel & Luxury Goods - 3.2%
Coach, Inc.	12,147		714,972
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - continued
lululemon athletica, Inc. (a)	13,461		$ 1,024,786
Michael Kors Holdings Ltd. (a)	12,619		718,526
NIKE, Inc. Class B	26,600		1,691,760
PVH Corp.	5,200		600,132
Ralph Lauren Corp.	3,599		653,506
			5,403,682
TOTAL CONSUMER DISCRETIONARY			30,286,327
CONSUMER STAPLES - 13.1%
Beverages - 4.8%
Beam, Inc.	6,537		423,009
Fomento Economico Mexicano S.A.B. de CV sponsored ADR	6,900		782,391
Monster Beverage Corp. (a)	14,330		808,212
PepsiCo, Inc.	16,773		1,383,269
The Coca-Cola Co.	111,601		4,724,070
			8,120,951
Food & Staples Retailing - 3.2%
CVS Caremark Corp.	40,044		2,329,760
Safeway, Inc.	24,951		561,897
Wal-Mart Stores, Inc.	21,356		1,659,788
Walgreen Co.	16,968		840,086
			5,391,531
Food Products - 0.9%
Bunge Ltd.	6,900		498,249
Mead Johnson Nutrition Co. Class A	11,800		956,862
			1,455,111
Household Products - 0.9%
Procter & Gamble Co.	21,000		1,612,170
Tobacco - 3.3%
Altria Group, Inc.	45,229		1,651,311
British American Tobacco PLC (United Kingdom)	18,500		1,025,552
Japan Tobacco, Inc.	37,400		1,413,766
Lorillard, Inc.	32,862		1,409,451
			5,500,080
TOTAL CONSUMER STAPLES			22,079,843
Common Stocks - continued
	Shares		Value
ENERGY - 3.8%
Energy Equipment & Services - 2.5%
Cameron International Corp. (a)	14,870		$ 915,249
Ensco PLC Class A	17,484		1,008,477
Halliburton Co.	20,200		863,954
National Oilwell Varco, Inc.	7,614		496,585
Schlumberger Ltd.	12,175		906,185
			4,190,450
Oil, Gas & Consumable Fuels - 1.3%
Noble Energy, Inc.	6,048		685,178
Suncor Energy, Inc.	5,000		155,889
The Williams Companies, Inc.	33,250		1,267,823
			2,108,890
TOTAL ENERGY			6,299,340
FINANCIALS - 6.5%
Capital Markets - 0.9%
The Blackstone Group LP	71,629		1,471,976
Commercial Banks - 0.9%
Wells Fargo & Co.	39,594		1,503,780
Consumer Finance - 1.2%
Capital One Financial Corp.	8,800		508,464
SLM Corp.	73,245		1,512,509
			2,020,973
Diversified Financial Services - 2.2%
Bank of America Corp.	110,886		1,365,007
Citigroup, Inc.	33,936		1,583,454
McGraw-Hill Companies, Inc.	14,053		760,408
			3,708,869
Real Estate Investment Trusts - 1.0%
American Tower Corp.	20,100		1,688,199
Real Estate Management & Development - 0.3%
Hongkong Land Holdings Ltd.	75,000		544,500
TOTAL FINANCIALS			10,938,297
HEALTH CARE - 16.0%
Biotechnology - 6.9%
Alexion Pharmaceuticals, Inc. (a)	8,300		813,400
Alkermes PLC (a)	9,100		278,551
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Amgen, Inc.	33,870		$ 3,529,593
Biogen Idec, Inc. (a)	3,618		792,089
BioMarin Pharmaceutical, Inc. (a)	9,800		642,880
Celgene Corp. (a)	13,181		1,556,281
Gilead Sciences, Inc. (a)	71,003		3,595,592
Theravance, Inc. (a)	13,315		449,381
			11,657,767
Health Care Equipment & Supplies - 2.3%
Align Technology, Inc. (a)	12,907		427,480
Ansell Ltd.	40,222		658,831
Boston Scientific Corp. (a)	111,978		838,715
Intuitive Surgical, Inc. (a)	900		443,061
The Cooper Companies, Inc.	13,348		1,473,619
			3,841,706
Health Care Providers & Services - 2.3%
Brookdale Senior Living, Inc. (a)	31,660		816,511
Catamaran Corp. (a)	15,530		896,700
Express Scripts Holding Co. (a)	35,876		2,129,958
			3,843,169
Health Care Technology - 0.1%
Cerner Corp. (a)	1,600		154,832
Life Sciences Tools & Services - 0.8%
Illumina, Inc. (a)	21,808		1,410,760
Pharmaceuticals - 3.6%
AbbVie, Inc.	40,523		1,866,084
Actavis, Inc. (a)	7,567		800,059
Johnson & Johnson	13,550		1,154,867
Merck & Co., Inc.	26,305		1,236,335
Valeant Pharmaceuticals International, Inc. (Canada) (a)	12,200		926,398
			5,983,743
TOTAL HEALTH CARE			26,891,977
INDUSTRIALS - 10.8%
Aerospace & Defense - 1.7%
TransDigm Group, Inc.	3,000		440,400
United Technologies Corp.	26,945		2,459,809
			2,900,209
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - 1.4%
United Parcel Service, Inc. Class B	27,910		$ 2,395,794
Airlines - 0.3%
Delta Air Lines, Inc. (a)	27,400		469,636
Electrical Equipment - 2.3%
Eaton Corp. PLC	27,154		1,667,527
Emerson Electric Co.	25,679		1,425,441
Generac Holdings, Inc.	22,405		805,012
			3,897,980
Industrial Conglomerates - 0.1%
3M Co.	1,900		198,949
Machinery - 2.1%
Cummins, Inc.	10,292		1,094,966
Ingersoll-Rand PLC	25,200		1,355,760
Manitowoc Co., Inc.	56,946		1,068,307
			3,519,033
Professional Services - 0.8%
Nielsen Holdings B.V.	13,034		451,237
Towers Watson & Co.	11,831		862,717
			1,313,954
Road & Rail - 1.7%
CSX Corp.	56,385		1,386,507
Hertz Global Holdings, Inc. (a)	20,200		486,416
Union Pacific Corp.	6,350		939,546
			2,812,469
Trading Companies & Distributors - 0.4%
WESCO International, Inc. (a)	9,681		694,031
TOTAL INDUSTRIALS			18,202,055
INFORMATION TECHNOLOGY - 27.4%
Communications Equipment - 2.0%
Cisco Systems, Inc.	32,600		681,992
QUALCOMM, Inc.	43,397		2,674,123
			3,356,115
Computers & Peripherals - 5.0%
Apple, Inc.	17,489		7,743,255
EMC Corp. (a)	29,000		650,470
			8,393,725
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - 6.0%
eBay, Inc. (a)	11,980		$ 627,632
Facebook, Inc. Class A	37,596		1,043,665
Google, Inc. Class A (a)	9,394		7,746,011
LinkedIn Corp. (a)	2,900		557,061
NIC, Inc.	9,110		153,412
			10,127,781
IT Services - 5.3%
Accenture PLC Class A	19,444		1,583,519
Amdocs Ltd.	24,237		865,261
Cognizant Technology Solutions Corp. Class A (a)	2,052		132,970
IBM Corp.	7,954		1,611,003
MasterCard, Inc. Class A	3,433		1,898,209
Visa, Inc. Class A	16,500		2,779,590
			8,870,552
Semiconductors & Semiconductor Equipment - 2.0%
Altera Corp.	27,496		880,147
Broadcom Corp. Class A	53,929		1,941,444
Intel Corp.	11,643		278,850
NXP Semiconductors NV (a)	12,400		341,620
			3,442,061
Software - 7.1%
Check Point Software Technologies Ltd. (a)	15,791		736,176
Concur Technologies, Inc. (a)(d)	6,909		505,117
Guidewire Software, Inc. (a)	21,073		844,606
Microsoft Corp.	87,378		2,892,212
Oracle Corp.	121,042		3,967,757
salesforce.com, Inc. (a)	32,600		1,340,186
Splunk, Inc.	11,398		465,038
Workday, Inc. Class A	17,595		1,102,327
			11,853,419
TOTAL INFORMATION TECHNOLOGY			46,043,653
MATERIALS - 3.2%
Chemicals - 2.1%
Eastman Chemical Co.	15,794		1,052,670
Monsanto Co.	22,723		2,427,271
			3,479,941
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Construction Materials - 0.6%
Vulcan Materials Co.	22,070		$ 1,100,852
Paper & Forest Products - 0.5%
Boise Cascade Co.	25,316		810,871
TOTAL MATERIALS			5,391,664
TELECOMMUNICATION SERVICES - 0.9%
Wireless Telecommunication Services - 0.9%
Vodafone Group PLC sponsored ADR	50,290		1,538,371
TOTAL COMMON STOCKS (Cost $149,270,954)		167,671,527
Money Market Funds - 0.4%

Fidelity Cash Central Fund, 0.13% (b)	147,196		147,196
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	500,250		500,250
TOTAL MONEY MARKET FUNDS (Cost $647,446)		647,446
TOTAL INVESTMENT PORTFOLIO - 100.1% (Cost $149,918,400)			168,318,973
NET OTHER ASSETS (LIABILITIES) - (0.1)%			(172,094)
NET ASSETS - 100%		$ 168,146,879

Legend

(a) Non-income producing

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 911
Fidelity Securities Lending Cash Central Fund	1,570
Total	$ 2,481

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 30,286,327	$ 30,286,327	$ -	$ -
Consumer Staples	22,079,843	19,640,525	2,439,318	-
Energy	6,299,340	6,299,340	-	-
Financials	10,938,297	10,938,297	-	-
Health Care	26,891,977	26,891,977	-	-
Industrials	18,202,055	18,202,055	-	-
Information Technology	46,043,653	46,043,653	-	-
Materials	5,391,664	5,391,664	-	-
Telecommunication Services	1,538,371	1,538,371	-	-
Money Market Funds	647,446	647,446	-	-
Total Investments in Securities:	$ 168,318,973	$ 165,879,655	$ 2,439,318	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $150,152,825. Net unrealized appreciation aggregated $18,166,148, of which $20,038,890 related to appreciated investment securities and $1,872,742 related to depreciated investment securities.

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity Advisor® Large Cap
Growth Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity ® Large Cap
Growth Fund

1.847927.106

ALCG-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.7%
	Shares		Value
CONSUMER DISCRETIONARY - 18.0%
Automobiles - 0.2%
Harley-Davidson, Inc.	5,200		$ 284,180
Distributors - 0.8%
LKQ Corp. (a)	59,229		1,426,234
Diversified Consumer Services - 0.3%
H&R Block, Inc.	15,400		427,196
Hotels, Restaurants & Leisure - 1.9%
Las Vegas Sands Corp.	5,464		307,350
McDonald's Corp.	11,178		1,141,721
Starbucks Corp.	28,474		1,732,358
Yum! Brands, Inc.	1,092		74,387
			3,255,816
Household Durables - 1.2%
Toll Brothers, Inc. (a)	28,770		987,099
Whirlpool Corp.	8,599		982,694
			1,969,793
Internet & Catalog Retail - 2.4%
Amazon.com, Inc. (a)	9,647		2,448,505
priceline.com, Inc. (a)	2,260		1,572,937
			4,021,442
Leisure Equipment & Products - 0.4%
Mattel, Inc.	15,200		694,032
Media - 2.1%
CBS Corp. Class B	23,174		1,060,906
Comcast Corp. Class A	58,444		2,413,737
			3,474,643
Multiline Retail - 0.5%
Dollar General Corp. (a)	17,500		911,575
Specialty Retail - 5.0%
American Eagle Outfitters, Inc.	62,621		1,217,978
Dick's Sporting Goods, Inc.	18,188		874,843
Home Depot, Inc.	47,593		3,490,947
Lowe's Companies, Inc.	18,494		710,539
Rent-A-Center, Inc.	10,900		380,737
Ross Stores, Inc.	19,906		1,315,189
Tractor Supply Co.	3,989		427,501
			8,417,734
Textiles, Apparel & Luxury Goods - 3.2%
Coach, Inc.	12,147		714,972
Common Stocks - continued
	Shares		Value
CONSUMER DISCRETIONARY - continued
Textiles, Apparel & Luxury Goods - continued
lululemon athletica, Inc. (a)	13,461		$ 1,024,786
Michael Kors Holdings Ltd. (a)	12,619		718,526
NIKE, Inc. Class B	26,600		1,691,760
PVH Corp.	5,200		600,132
Ralph Lauren Corp.	3,599		653,506
			5,403,682
TOTAL CONSUMER DISCRETIONARY			30,286,327
CONSUMER STAPLES - 13.1%
Beverages - 4.8%
Beam, Inc.	6,537		423,009
Fomento Economico Mexicano S.A.B. de CV sponsored ADR	6,900		782,391
Monster Beverage Corp. (a)	14,330		808,212
PepsiCo, Inc.	16,773		1,383,269
The Coca-Cola Co.	111,601		4,724,070
			8,120,951
Food & Staples Retailing - 3.2%
CVS Caremark Corp.	40,044		2,329,760
Safeway, Inc.	24,951		561,897
Wal-Mart Stores, Inc.	21,356		1,659,788
Walgreen Co.	16,968		840,086
			5,391,531
Food Products - 0.9%
Bunge Ltd.	6,900		498,249
Mead Johnson Nutrition Co. Class A	11,800		956,862
			1,455,111
Household Products - 0.9%
Procter & Gamble Co.	21,000		1,612,170
Tobacco - 3.3%
Altria Group, Inc.	45,229		1,651,311
British American Tobacco PLC (United Kingdom)	18,500		1,025,552
Japan Tobacco, Inc.	37,400		1,413,766
Lorillard, Inc.	32,862		1,409,451
			5,500,080
TOTAL CONSUMER STAPLES			22,079,843
Common Stocks - continued
	Shares		Value
ENERGY - 3.8%
Energy Equipment & Services - 2.5%
Cameron International Corp. (a)	14,870		$ 915,249
Ensco PLC Class A	17,484		1,008,477
Halliburton Co.	20,200		863,954
National Oilwell Varco, Inc.	7,614		496,585
Schlumberger Ltd.	12,175		906,185
			4,190,450
Oil, Gas & Consumable Fuels - 1.3%
Noble Energy, Inc.	6,048		685,178
Suncor Energy, Inc.	5,000		155,889
The Williams Companies, Inc.	33,250		1,267,823
			2,108,890
TOTAL ENERGY			6,299,340
FINANCIALS - 6.5%
Capital Markets - 0.9%
The Blackstone Group LP	71,629		1,471,976
Commercial Banks - 0.9%
Wells Fargo & Co.	39,594		1,503,780
Consumer Finance - 1.2%
Capital One Financial Corp.	8,800		508,464
SLM Corp.	73,245		1,512,509
			2,020,973
Diversified Financial Services - 2.2%
Bank of America Corp.	110,886		1,365,007
Citigroup, Inc.	33,936		1,583,454
McGraw-Hill Companies, Inc.	14,053		760,408
			3,708,869
Real Estate Investment Trusts - 1.0%
American Tower Corp.	20,100		1,688,199
Real Estate Management & Development - 0.3%
Hongkong Land Holdings Ltd.	75,000		544,500
TOTAL FINANCIALS			10,938,297
HEALTH CARE - 16.0%
Biotechnology - 6.9%
Alexion Pharmaceuticals, Inc. (a)	8,300		813,400
Alkermes PLC (a)	9,100		278,551
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Biotechnology - continued
Amgen, Inc.	33,870		$ 3,529,593
Biogen Idec, Inc. (a)	3,618		792,089
BioMarin Pharmaceutical, Inc. (a)	9,800		642,880
Celgene Corp. (a)	13,181		1,556,281
Gilead Sciences, Inc. (a)	71,003		3,595,592
Theravance, Inc. (a)	13,315		449,381
			11,657,767
Health Care Equipment & Supplies - 2.3%
Align Technology, Inc. (a)	12,907		427,480
Ansell Ltd.	40,222		658,831
Boston Scientific Corp. (a)	111,978		838,715
Intuitive Surgical, Inc. (a)	900		443,061
The Cooper Companies, Inc.	13,348		1,473,619
			3,841,706
Health Care Providers & Services - 2.3%
Brookdale Senior Living, Inc. (a)	31,660		816,511
Catamaran Corp. (a)	15,530		896,700
Express Scripts Holding Co. (a)	35,876		2,129,958
			3,843,169
Health Care Technology - 0.1%
Cerner Corp. (a)	1,600		154,832
Life Sciences Tools & Services - 0.8%
Illumina, Inc. (a)	21,808		1,410,760
Pharmaceuticals - 3.6%
AbbVie, Inc.	40,523		1,866,084
Actavis, Inc. (a)	7,567		800,059
Johnson & Johnson	13,550		1,154,867
Merck & Co., Inc.	26,305		1,236,335
Valeant Pharmaceuticals International, Inc. (Canada) (a)	12,200		926,398
			5,983,743
TOTAL HEALTH CARE			26,891,977
INDUSTRIALS - 10.8%
Aerospace & Defense - 1.7%
TransDigm Group, Inc.	3,000		440,400
United Technologies Corp.	26,945		2,459,809
			2,900,209
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - 1.4%
United Parcel Service, Inc. Class B	27,910		$ 2,395,794
Airlines - 0.3%
Delta Air Lines, Inc. (a)	27,400		469,636
Electrical Equipment - 2.3%
Eaton Corp. PLC	27,154		1,667,527
Emerson Electric Co.	25,679		1,425,441
Generac Holdings, Inc.	22,405		805,012
			3,897,980
Industrial Conglomerates - 0.1%
3M Co.	1,900		198,949
Machinery - 2.1%
Cummins, Inc.	10,292		1,094,966
Ingersoll-Rand PLC	25,200		1,355,760
Manitowoc Co., Inc.	56,946		1,068,307
			3,519,033
Professional Services - 0.8%
Nielsen Holdings B.V.	13,034		451,237
Towers Watson & Co.	11,831		862,717
			1,313,954
Road & Rail - 1.7%
CSX Corp.	56,385		1,386,507
Hertz Global Holdings, Inc. (a)	20,200		486,416
Union Pacific Corp.	6,350		939,546
			2,812,469
Trading Companies & Distributors - 0.4%
WESCO International, Inc. (a)	9,681		694,031
TOTAL INDUSTRIALS			18,202,055
INFORMATION TECHNOLOGY - 27.4%
Communications Equipment - 2.0%
Cisco Systems, Inc.	32,600		681,992
QUALCOMM, Inc.	43,397		2,674,123
			3,356,115
Computers & Peripherals - 5.0%
Apple, Inc.	17,489		7,743,255
EMC Corp. (a)	29,000		650,470
			8,393,725
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Internet Software & Services - 6.0%
eBay, Inc. (a)	11,980		$ 627,632
Facebook, Inc. Class A	37,596		1,043,665
Google, Inc. Class A (a)	9,394		7,746,011
LinkedIn Corp. (a)	2,900		557,061
NIC, Inc.	9,110		153,412
			10,127,781
IT Services - 5.3%
Accenture PLC Class A	19,444		1,583,519
Amdocs Ltd.	24,237		865,261
Cognizant Technology Solutions Corp. Class A (a)	2,052		132,970
IBM Corp.	7,954		1,611,003
MasterCard, Inc. Class A	3,433		1,898,209
Visa, Inc. Class A	16,500		2,779,590
			8,870,552
Semiconductors & Semiconductor Equipment - 2.0%
Altera Corp.	27,496		880,147
Broadcom Corp. Class A	53,929		1,941,444
Intel Corp.	11,643		278,850
NXP Semiconductors NV (a)	12,400		341,620
			3,442,061
Software - 7.1%
Check Point Software Technologies Ltd. (a)	15,791		736,176
Concur Technologies, Inc. (a)(d)	6,909		505,117
Guidewire Software, Inc. (a)	21,073		844,606
Microsoft Corp.	87,378		2,892,212
Oracle Corp.	121,042		3,967,757
salesforce.com, Inc. (a)	32,600		1,340,186
Splunk, Inc.	11,398		465,038
Workday, Inc. Class A	17,595		1,102,327
			11,853,419
TOTAL INFORMATION TECHNOLOGY			46,043,653
MATERIALS - 3.2%
Chemicals - 2.1%
Eastman Chemical Co.	15,794		1,052,670
Monsanto Co.	22,723		2,427,271
			3,479,941
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Construction Materials - 0.6%
Vulcan Materials Co.	22,070		$ 1,100,852
Paper & Forest Products - 0.5%
Boise Cascade Co.	25,316		810,871
TOTAL MATERIALS			5,391,664
TELECOMMUNICATION SERVICES - 0.9%
Wireless Telecommunication Services - 0.9%
Vodafone Group PLC sponsored ADR	50,290		1,538,371
TOTAL COMMON STOCKS (Cost $149,270,954)		167,671,527
Money Market Funds - 0.4%

Fidelity Cash Central Fund, 0.13% (b)	147,196		147,196
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	500,250		500,250
TOTAL MONEY MARKET FUNDS (Cost $647,446)		647,446
TOTAL INVESTMENT PORTFOLIO - 100.1% (Cost $149,918,400)			168,318,973
NET OTHER ASSETS (LIABILITIES) - (0.1)%			(172,094)
NET ASSETS - 100%		$ 168,146,879

Legend

(a) Non-income producing

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 911
Fidelity Securities Lending Cash Central Fund	1,570
Total	$ 2,481

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 30,286,327	$ 30,286,327	$ -	$ -
Consumer Staples	22,079,843	19,640,525	2,439,318	-
Energy	6,299,340	6,299,340	-	-
Financials	10,938,297	10,938,297	-	-
Health Care	26,891,977	26,891,977	-	-
Industrials	18,202,055	18,202,055	-	-
Information Technology	46,043,653	46,043,653	-	-
Materials	5,391,664	5,391,664	-	-
Telecommunication Services	1,538,371	1,538,371	-	-
Money Market Funds	647,446	647,446	-	-
Total Investments in Securities:	$ 168,318,973	$ 165,879,655	$ 2,439,318	$ -

Income Tax Information

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Mid Cap Value Fund

April 30, 2013

1.800359.109

MCV-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.0%
	Shares		Value
CONSUMER DISCRETIONARY - 9.0%
Diversified Consumer Services - 0.2%
DeVry, Inc.	93,100		$ 2,607,731
Household Durables - 3.3%
Jarden Corp. (a)	229,900		10,347,799
PulteGroup, Inc. (a)	582,700		12,230,873
Whirlpool Corp.	150,200		17,164,856
			39,743,528
Media - 1.6%
Gannett Co., Inc.	485,600		9,789,696
Washington Post Co. Class B	20,500		9,088,470
			18,878,166
Multiline Retail - 1.3%
Macy's, Inc.	355,800		15,868,680
Specialty Retail - 2.6%
Best Buy Co., Inc.	400,800		10,416,792
GameStop Corp. Class A (d)	221,800		7,740,820
Staples, Inc.	928,800		12,297,312
			30,454,924
TOTAL CONSUMER DISCRETIONARY			107,553,029
CONSUMER STAPLES - 5.3%
Beverages - 1.0%
Molson Coors Brewing Co. Class B	218,800		11,290,080
Food Products - 2.9%
ConAgra Foods, Inc.	434,300		15,361,191
The J.M. Smucker Co.	104,300		10,766,889
Tyson Foods, Inc. Class A	363,600		8,955,468
			35,083,548
Household Products - 0.9%
Energizer Holdings, Inc.	112,100		10,827,739
Tobacco - 0.5%
Lorillard, Inc.	136,700		5,863,063
TOTAL CONSUMER STAPLES			63,064,430
Common Stocks - continued
	Shares		Value
ENERGY - 8.6%
Energy Equipment & Services - 1.8%
Cameron International Corp. (a)	142,900		$ 8,795,495
Helmerich & Payne, Inc.	217,000		12,720,540
			21,516,035
Oil, Gas & Consumable Fuels - 6.8%
Denbury Resources, Inc. (a)	826,800		14,791,452
Hess Corp.	155,500		11,223,990
Marathon Petroleum Corp.	254,745		19,961,818
Murphy Oil Corp.	271,700		16,869,853
Valero Energy Corp.	454,900		18,341,568
			81,188,681
TOTAL ENERGY			102,704,716
FINANCIALS - 30.4%
Capital Markets - 3.1%
Apollo Global Management LLC Class A	488,800		13,158,496
KKR & Co. LP	575,000		12,075,000
The Blackstone Group LP	572,100		11,756,655
			36,990,151
Commercial Banks - 5.2%
Comerica, Inc.	245,300		8,892,125
Commerce Bancshares, Inc.	360,000		14,439,600
East West Bancorp, Inc.	260,300		6,333,099
Fifth Third Bancorp	828,657		14,112,029
Huntington Bancshares, Inc.	1,928,500		13,827,345
Popular, Inc. (a)	148,900		4,242,161
			61,846,359
Consumer Finance - 1.3%
SLM Corp.	766,400		15,826,160
Insurance - 8.6%
Allied World Assurance Co. Holdings Ltd.	155,500		14,120,955
Everest Re Group Ltd.	121,000		16,333,790
Hartford Financial Services Group, Inc.	634,100		17,811,869
ProAssurance Corp.	294,000		14,403,060
Reinsurance Group of America, Inc.	241,100		15,080,805
Torchmark Corp.	237,800		14,760,246
Validus Holdings Ltd.	252,000		9,729,720
			102,240,445
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - 11.1%
American Campus Communities, Inc.	295,500		$ 13,191,120
American Capital Agency Corp.	534,500		17,804,195
Camden Property Trust (SBI)	169,900		12,290,566
Corrections Corp. of America	349,900		12,666,380
Host Hotels & Resorts, Inc.	964,300		17,617,761
MFA Financial, Inc.	762,400		7,067,448
The Macerich Co.	233,600		16,363,680
Vornado Realty Trust	221,600		19,403,296
Weyerhaeuser Co.	522,700		15,947,577
			132,352,023
Real Estate Management & Development - 1.1%
Jones Lang LaSalle, Inc.	127,800		12,654,756
TOTAL FINANCIALS			361,909,894
HEALTH CARE - 7.1%
Health Care Providers & Services - 3.8%
CIGNA Corp.	306,400		20,274,488
Community Health Systems, Inc.	309,500		14,103,915
Omnicare, Inc.	243,900		10,675,503
			45,053,906
Life Sciences Tools & Services - 0.9%
Life Technologies Corp. (a)	153,100		11,281,939
Pharmaceuticals - 2.4%
Actavis, Inc. (a)	86,900		9,187,937
Endo Health Solutions, Inc. (a)	352,600		12,919,264
Mylan, Inc. (a)	211,900		6,168,409
			28,275,610
TOTAL HEALTH CARE			84,611,455
INDUSTRIALS - 10.8%
Aerospace & Defense - 1.7%
Alliant Techsystems, Inc.	135,100		10,046,036
Esterline Technologies Corp. (a)	133,900		10,047,856
			20,093,892
Airlines - 1.1%
Delta Air Lines, Inc. (a)	791,800		13,571,452
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 2.3%
Avery Dennison Corp.	312,100		$ 12,936,545
Republic Services, Inc.	424,500		14,466,960
			27,403,505
Construction & Engineering - 2.0%
AECOM Technology Corp. (a)	389,600		11,325,672
URS Corp.	279,803		12,288,948
			23,614,620
Machinery - 1.7%
Oshkosh Truck Corp. (a)	220,700		8,664,682
Terex Corp. (a)	418,400		11,966,240
			20,630,922
Professional Services - 2.0%
Manpower, Inc.	241,100		12,816,876
Towers Watson & Co.	154,200		11,244,264
			24,061,140
TOTAL INDUSTRIALS			129,375,531
INFORMATION TECHNOLOGY - 10.0%
Communications Equipment - 1.3%
Brocade Communications Systems, Inc. (a)	2,203,100		12,822,042
Juniper Networks, Inc. (a)	161,900		2,679,445
			15,501,487
Computers & Peripherals - 1.3%
Western Digital Corp.	279,200		15,434,176
Electronic Equipment & Components - 0.7%
Avnet, Inc. (a)	256,000		8,384,000
IT Services - 1.3%
Computer Sciences Corp.	325,600		15,254,360
Office Electronics - 1.1%
Xerox Corp.	1,549,600		13,295,568
Semiconductors & Semiconductor Equipment - 1.6%
Avago Technologies Ltd.	303,700		9,706,252
Marvell Technology Group Ltd.	140,000		1,506,400
Skyworks Solutions, Inc. (a)	364,700		8,048,929
			19,261,581
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 2.7%
CA Technologies, Inc.	621,000		$ 16,748,370
Symantec Corp. (a)	637,300		15,486,390
			32,234,760
TOTAL INFORMATION TECHNOLOGY			119,365,932
MATERIALS - 5.5%
Chemicals - 1.7%
Ashland, Inc.	104,700		8,921,487
Eastman Chemical Co.	163,600		10,903,940
			19,825,427
Containers & Packaging - 0.8%
Ball Corp.	97,700		4,310,524
Graphic Packaging Holding Co. (a)	702,900		5,285,808
			9,596,332
Metals & Mining - 1.3%
Commercial Metals Co.	621,400		9,084,868
Reliance Steel & Aluminum Co.	93,300		6,071,031
			15,155,899
Paper & Forest Products - 1.7%
International Paper Co.	436,600		20,511,467
TOTAL MATERIALS			65,089,125
TELECOMMUNICATION SERVICES - 1.1%
Diversified Telecommunication Services - 1.1%
CenturyLink, Inc.	150,700		5,661,799
Frontier Communications Corp. (d)	1,754,800		7,299,968
			12,961,767
UTILITIES - 10.2%
Electric Utilities - 7.5%
Edison International	377,300		20,298,740
Hawaiian Electric Industries, Inc. (d)	463,400		13,114,220
IDACORP, Inc.	232,300		11,431,483
NV Energy, Inc.	687,200		14,864,136
PNM Resources, Inc.	480,200		11,529,602
PPL Corp.	542,900		18,122,002
			89,360,183
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 1.2%
UGI Corp.	355,100		$ 14,551,998
Multi-Utilities - 1.5%
DTE Energy Co.	247,400		18,030,512
TOTAL UTILITIES			121,942,693
TOTAL COMMON STOCKS (Cost $1,050,615,968)		1,168,578,572
Money Market Funds - 3.3%

Fidelity Cash Central Fund, 0.13% (b)	20,158,326		20,158,326
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	18,845,468		18,845,468
TOTAL MONEY MARKET FUNDS (Cost $39,003,794)		39,003,794
TOTAL INVESTMENT PORTFOLIO - 101.3% (Cost $1,089,619,762)			1,207,582,366
NET OTHER ASSETS (LIABILITIES) - (1.3)%			(15,576,360)
NET ASSETS - 100%		$ 1,192,006,006

Legend

(a) Non-income producing

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 5,860
Fidelity Securities Lending Cash Central Fund	26,981
Total	$ 32,841

Other Information

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $1,090,891,318. Net unrealized appreciation aggregated $116,691,048, of which $130,283,522 related to appreciated investment securities and $13,592,474 related to depreciated investment securities.

Investment Valuation

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price (last ask price to value short positions) 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 in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity Advisor® Mid Cap Value Fund
Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity® Mid Cap Value Fund

1.847930.106

AMCV-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.0%
	Shares		Value
CONSUMER DISCRETIONARY - 9.0%
Diversified Consumer Services - 0.2%
DeVry, Inc.	93,100		$ 2,607,731
Household Durables - 3.3%
Jarden Corp. (a)	229,900		10,347,799
PulteGroup, Inc. (a)	582,700		12,230,873
Whirlpool Corp.	150,200		17,164,856
			39,743,528
Media - 1.6%
Gannett Co., Inc.	485,600		9,789,696
Washington Post Co. Class B	20,500		9,088,470
			18,878,166
Multiline Retail - 1.3%
Macy's, Inc.	355,800		15,868,680
Specialty Retail - 2.6%
Best Buy Co., Inc.	400,800		10,416,792
GameStop Corp. Class A (d)	221,800		7,740,820
Staples, Inc.	928,800		12,297,312
			30,454,924
TOTAL CONSUMER DISCRETIONARY			107,553,029
CONSUMER STAPLES - 5.3%
Beverages - 1.0%
Molson Coors Brewing Co. Class B	218,800		11,290,080
Food Products - 2.9%
ConAgra Foods, Inc.	434,300		15,361,191
The J.M. Smucker Co.	104,300		10,766,889
Tyson Foods, Inc. Class A	363,600		8,955,468
			35,083,548
Household Products - 0.9%
Energizer Holdings, Inc.	112,100		10,827,739
Tobacco - 0.5%
Lorillard, Inc.	136,700		5,863,063
TOTAL CONSUMER STAPLES			63,064,430
Common Stocks - continued
	Shares		Value
ENERGY - 8.6%
Energy Equipment & Services - 1.8%
Cameron International Corp. (a)	142,900		$ 8,795,495
Helmerich & Payne, Inc.	217,000		12,720,540
			21,516,035
Oil, Gas & Consumable Fuels - 6.8%
Denbury Resources, Inc. (a)	826,800		14,791,452
Hess Corp.	155,500		11,223,990
Marathon Petroleum Corp.	254,745		19,961,818
Murphy Oil Corp.	271,700		16,869,853
Valero Energy Corp.	454,900		18,341,568
			81,188,681
TOTAL ENERGY			102,704,716
FINANCIALS - 30.4%
Capital Markets - 3.1%
Apollo Global Management LLC Class A	488,800		13,158,496
KKR & Co. LP	575,000		12,075,000
The Blackstone Group LP	572,100		11,756,655
			36,990,151
Commercial Banks - 5.2%
Comerica, Inc.	245,300		8,892,125
Commerce Bancshares, Inc.	360,000		14,439,600
East West Bancorp, Inc.	260,300		6,333,099
Fifth Third Bancorp	828,657		14,112,029
Huntington Bancshares, Inc.	1,928,500		13,827,345
Popular, Inc. (a)	148,900		4,242,161
			61,846,359
Consumer Finance - 1.3%
SLM Corp.	766,400		15,826,160
Insurance - 8.6%
Allied World Assurance Co. Holdings Ltd.	155,500		14,120,955
Everest Re Group Ltd.	121,000		16,333,790
Hartford Financial Services Group, Inc.	634,100		17,811,869
ProAssurance Corp.	294,000		14,403,060
Reinsurance Group of America, Inc.	241,100		15,080,805
Torchmark Corp.	237,800		14,760,246
Validus Holdings Ltd.	252,000		9,729,720
			102,240,445
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Investment Trusts - 11.1%
American Campus Communities, Inc.	295,500		$ 13,191,120
American Capital Agency Corp.	534,500		17,804,195
Camden Property Trust (SBI)	169,900		12,290,566
Corrections Corp. of America	349,900		12,666,380
Host Hotels & Resorts, Inc.	964,300		17,617,761
MFA Financial, Inc.	762,400		7,067,448
The Macerich Co.	233,600		16,363,680
Vornado Realty Trust	221,600		19,403,296
Weyerhaeuser Co.	522,700		15,947,577
			132,352,023
Real Estate Management & Development - 1.1%
Jones Lang LaSalle, Inc.	127,800		12,654,756
TOTAL FINANCIALS			361,909,894
HEALTH CARE - 7.1%
Health Care Providers & Services - 3.8%
CIGNA Corp.	306,400		20,274,488
Community Health Systems, Inc.	309,500		14,103,915
Omnicare, Inc.	243,900		10,675,503
			45,053,906
Life Sciences Tools & Services - 0.9%
Life Technologies Corp. (a)	153,100		11,281,939
Pharmaceuticals - 2.4%
Actavis, Inc. (a)	86,900		9,187,937
Endo Health Solutions, Inc. (a)	352,600		12,919,264
Mylan, Inc. (a)	211,900		6,168,409
			28,275,610
TOTAL HEALTH CARE			84,611,455
INDUSTRIALS - 10.8%
Aerospace & Defense - 1.7%
Alliant Techsystems, Inc.	135,100		10,046,036
Esterline Technologies Corp. (a)	133,900		10,047,856
			20,093,892
Airlines - 1.1%
Delta Air Lines, Inc. (a)	791,800		13,571,452
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 2.3%
Avery Dennison Corp.	312,100		$ 12,936,545
Republic Services, Inc.	424,500		14,466,960
			27,403,505
Construction & Engineering - 2.0%
AECOM Technology Corp. (a)	389,600		11,325,672
URS Corp.	279,803		12,288,948
			23,614,620
Machinery - 1.7%
Oshkosh Truck Corp. (a)	220,700		8,664,682
Terex Corp. (a)	418,400		11,966,240
			20,630,922
Professional Services - 2.0%
Manpower, Inc.	241,100		12,816,876
Towers Watson & Co.	154,200		11,244,264
			24,061,140
TOTAL INDUSTRIALS			129,375,531
INFORMATION TECHNOLOGY - 10.0%
Communications Equipment - 1.3%
Brocade Communications Systems, Inc. (a)	2,203,100		12,822,042
Juniper Networks, Inc. (a)	161,900		2,679,445
			15,501,487
Computers & Peripherals - 1.3%
Western Digital Corp.	279,200		15,434,176
Electronic Equipment & Components - 0.7%
Avnet, Inc. (a)	256,000		8,384,000
IT Services - 1.3%
Computer Sciences Corp.	325,600		15,254,360
Office Electronics - 1.1%
Xerox Corp.	1,549,600		13,295,568
Semiconductors & Semiconductor Equipment - 1.6%
Avago Technologies Ltd.	303,700		9,706,252
Marvell Technology Group Ltd.	140,000		1,506,400
Skyworks Solutions, Inc. (a)	364,700		8,048,929
			19,261,581
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 2.7%
CA Technologies, Inc.	621,000		$ 16,748,370
Symantec Corp. (a)	637,300		15,486,390
			32,234,760
TOTAL INFORMATION TECHNOLOGY			119,365,932
MATERIALS - 5.5%
Chemicals - 1.7%
Ashland, Inc.	104,700		8,921,487
Eastman Chemical Co.	163,600		10,903,940
			19,825,427
Containers & Packaging - 0.8%
Ball Corp.	97,700		4,310,524
Graphic Packaging Holding Co. (a)	702,900		5,285,808
			9,596,332
Metals & Mining - 1.3%
Commercial Metals Co.	621,400		9,084,868
Reliance Steel & Aluminum Co.	93,300		6,071,031
			15,155,899
Paper & Forest Products - 1.7%
International Paper Co.	436,600		20,511,467
TOTAL MATERIALS			65,089,125
TELECOMMUNICATION SERVICES - 1.1%
Diversified Telecommunication Services - 1.1%
CenturyLink, Inc.	150,700		5,661,799
Frontier Communications Corp. (d)	1,754,800		7,299,968
			12,961,767
UTILITIES - 10.2%
Electric Utilities - 7.5%
Edison International	377,300		20,298,740
Hawaiian Electric Industries, Inc. (d)	463,400		13,114,220
IDACORP, Inc.	232,300		11,431,483
NV Energy, Inc.	687,200		14,864,136
PNM Resources, Inc.	480,200		11,529,602
PPL Corp.	542,900		18,122,002
			89,360,183
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 1.2%
UGI Corp.	355,100		$ 14,551,998
Multi-Utilities - 1.5%
DTE Energy Co.	247,400		18,030,512
TOTAL UTILITIES			121,942,693
TOTAL COMMON STOCKS (Cost $1,050,615,968)		1,168,578,572
Money Market Funds - 3.3%

Fidelity Cash Central Fund, 0.13% (b)	20,158,326		20,158,326
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	18,845,468		18,845,468
TOTAL MONEY MARKET FUNDS (Cost $39,003,794)		39,003,794
TOTAL INVESTMENT PORTFOLIO - 101.3% (Cost $1,089,619,762)			1,207,582,366
NET OTHER ASSETS (LIABILITIES) - (1.3)%			(15,576,360)
NET ASSETS - 100%		$ 1,192,006,006

Legend

(a) Non-income producing

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 5,860
Fidelity Securities Lending Cash Central Fund	26,981
Total	$ 32,841

Other Information

Income Tax Information

Investment Valuation

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price (last ask price to value short positions) 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 in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2.

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Series All-Sector
Equity Fund

April 30, 2013

1.884782.101

ASE-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.3%
	Shares		Value
CONSUMER DISCRETIONARY - 12.1%
Hotels, Restaurants & Leisure - 1.9%
Icahn Enterprises LP rights	270,377		$ 3
Starbucks Corp.	1,677,156		102,038,171
Wynn Resorts Ltd.	195,800		26,883,340
Yum! Brands, Inc.	1,051,207		71,608,221
			200,529,735
Internet & Catalog Retail - 1.5%
Liberty Media Corp. Interactive Series A (a)	4,650,625		99,011,806
priceline.com, Inc. (a)	86,336		60,088,993
			159,100,799
Media - 5.0%
Comcast Corp. Class A	3,816,421		157,618,187
DIRECTV (a)	1,049,006		59,331,779
Legend Pictures LLC (a)(f)(g)	3,706		6,867,885
Liberty Global, Inc. Class A (a)(d)	784,200		56,752,554
News Corp. Class A	4,292,653		132,943,463
Sirius XM Radio, Inc.	10,630,854		34,550,276
Time Warner, Inc.	1,244,200		74,378,276
			522,442,420
Multiline Retail - 0.8%
Dollar General Corp. (a)	1,596,811		83,177,885
Specialty Retail - 1.6%
Lowe's Companies, Inc.	2,363,474		90,804,671
TJX Companies, Inc.	1,535,490		74,885,847
			165,690,518
Textiles, Apparel & Luxury Goods - 1.3%
NIKE, Inc. Class B	502,900		31,984,440
PVH Corp.	645,376		74,482,844
Under Armour, Inc. Class A (sub. vtg.) (a)	555,813		31,725,806
			138,193,090
TOTAL CONSUMER DISCRETIONARY			1,269,134,447
CONSUMER STAPLES - 10.0%
Beverages - 2.7%
Brown-Forman Corp. Class B (non-vtg.)	364,150		25,672,575
Constellation Brands, Inc. Class A (sub. vtg.) (a)	411,504		20,307,722
Molson Coors Brewing Co. Class B	714,424		36,864,278
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Beverages - continued
Monster Beverage Corp. (a)	333,300		$ 18,798,120
The Coca-Cola Co.	4,337,892		183,622,968
			285,265,663
Food & Staples Retailing - 2.3%
CVS Caremark Corp.	1,821,981		106,002,855
Kroger Co.	2,348,500		80,741,430
Safeway, Inc.	259,528		5,844,571
Walgreen Co.	909,382		45,023,503
			237,612,359
Food Products - 0.9%
Bunge Ltd.	320,752		23,161,502
Green Mountain Coffee Roasters, Inc. (a)	171,680		9,854,432
Mead Johnson Nutrition Co. Class A	739,600		59,974,164
			92,990,098
Household Products - 1.0%
Colgate-Palmolive Co.	861,242		102,840,907
Personal Products - 0.3%
Estee Lauder Companies, Inc. Class A	378,156		26,225,119
Nu Skin Enterprises, Inc. Class A (d)	139,478		7,075,719
			33,300,838
Tobacco - 2.8%
Altria Group, Inc.	2,767,730		101,049,822
Philip Morris International, Inc.	2,032,798		194,315,161
			295,364,983
TOTAL CONSUMER STAPLES			1,047,374,848
ENERGY - 10.0%
Energy Equipment & Services - 2.1%
Atwood Oceanics, Inc. (a)	353,500		17,339,175
Cameron International Corp. (a)	634,282		39,040,057
Halliburton Co.	409,140		17,498,918
National Oilwell Varco, Inc.	553,374		36,091,052
Oceaneering International, Inc.	355,818		24,967,749
Oil States International, Inc. (a)	164,800		14,726,528
Rowan Companies PLC (a)	816,109		26,548,026
Common Stocks - continued
	Shares		Value
ENERGY - continued
Energy Equipment & Services - continued
Schlumberger Ltd.	433,281		$ 32,249,105
Unit Corp. (a)	244,055		10,257,632
			218,718,242
Oil, Gas & Consumable Fuels - 7.9%
Anadarko Petroleum Corp.	761,681		64,560,082
Apache Corp.	182,991		13,519,375
Cabot Oil & Gas Corp.	436,900		29,731,045
Chevron Corp.	1,039,729		126,857,335
Cimarex Energy Co.	255,900		18,726,762
Cobalt International Energy, Inc. (a)	400,900		11,201,146
Concho Resources, Inc. (a)	240,731		20,734,161
ConocoPhillips	369,400		22,330,230
EQT Corp.	234,400		17,608,128
Exxon Mobil Corp.	2,456,320		218,587,917
Hess Corp.	420,021		30,317,116
Marathon Oil Corp.	1,286,189		42,019,795
Marathon Petroleum Corp.	491,615		38,522,951
Murphy Oil Corp.	291,595		18,105,134
Noble Energy, Inc.	358,912		40,661,140
Occidental Petroleum Corp.	455,755		40,680,691
Phillips 66	490,700		29,908,165
SM Energy Co.	138,600		8,454,600
The Williams Companies, Inc.	833,200		31,769,916
			824,295,689
TOTAL ENERGY			1,043,013,931
FINANCIALS - 16.5%
Capital Markets - 2.1%
Ameriprise Financial, Inc.	717,300		53,460,369
BlackRock, Inc. Class A	305,818		81,500,497
E*TRADE Financial Corp. (a)	1,563,052		16,083,805
Northern Trust Corp.	320,000		17,254,400
State Street Corp.	567,000		33,152,490
TD Ameritrade Holding Corp.	1,160,000		23,095,600
			224,547,161
Commercial Banks - 3.4%
CIT Group, Inc. (a)	429,033		18,238,193
Comerica, Inc.	242,161		8,778,336
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
First Horizon National Corp.	889,600		$ 9,251,840
Huntington Bancshares, Inc.	1,597,257		11,452,333
M&T Bank Corp.	230,739		23,120,048
PNC Financial Services Group, Inc.	225,800		15,327,304
Synovus Financial Corp.	3,989,160		10,730,840
U.S. Bancorp	4,648,678		154,708,004
Wells Fargo & Co.	2,682,892		101,896,238
			353,503,136
Consumer Finance - 2.9%
Capital One Financial Corp.	3,307,880		191,129,306
Discover Financial Services	836,632		36,594,284
SLM Corp.	3,432,346		70,877,945
			298,601,535
Diversified Financial Services - 4.2%
Bank of America Corp.	11,865,587		146,065,376
Citigroup, Inc.	2,517,684		117,475,135
JPMorgan Chase & Co.	3,573,234		175,124,198
			438,664,709
Insurance - 2.9%
ACE Ltd.	545,231		48,601,891
AFLAC, Inc.	431,900		23,512,636
Berkshire Hathaway, Inc.:
Class A (a)	174		27,666,000
Class B (a)	436,903		46,451,527
Hartford Financial Services Group, Inc.	897,642		25,214,764
Marsh & McLennan Companies, Inc.	1,098,600		41,757,786
MetLife, Inc.	869,741		33,911,202
The Travelers Companies, Inc.	391,673		33,452,791
Validus Holdings Ltd.	463,261		17,886,507
			298,455,104
Real Estate Investment Trusts - 1.0%
American Campus Communities, Inc.	421,300		18,806,832
Camden Property Trust (SBI)	197,142		14,261,252
Equity Lifestyle Properties, Inc.	618,600		50,261,250
The Macerich Co.	355,418		24,897,031
			108,226,365
TOTAL FINANCIALS			1,721,998,010
Common Stocks - continued
	Shares		Value
HEALTH CARE - 12.5%
Biotechnology - 3.7%
Alexion Pharmaceuticals, Inc. (a)	263,000		$ 25,774,000
Amgen, Inc.	1,049,465		109,364,748
Biogen Idec, Inc. (a)	285,986		62,610,915
BioMarin Pharmaceutical, Inc. (a)	232,078		15,224,317
Gilead Sciences, Inc. (a)	2,138,892		108,313,491
Onyx Pharmaceuticals, Inc. (a)	362,900		34,402,920
Regeneron Pharmaceuticals, Inc. (a)	141,400		30,420,796
Vertex Pharmaceuticals, Inc. (a)	60,000		4,609,200
			390,720,387
Health Care Equipment & Supplies - 1.8%
Covidien PLC	1,065,851		68,043,928
Edwards Lifesciences Corp. (a)	94,448		6,024,838
Stryker Corp.	948,200		62,182,956
The Cooper Companies, Inc.	455,715		50,310,936
			186,562,658
Health Care Providers & Services - 2.2%
Catamaran Corp. (a)	357,558		20,645,341
CIGNA Corp.	815,034		53,930,800
HCA Holdings, Inc.	420,000		16,753,800
Henry Schein, Inc. (a)	487,887		44,104,985
McKesson Corp.	349,654		37,000,386
MEDNAX, Inc. (a)	244,200		21,667,866
Quest Diagnostics, Inc.	475,500		26,784,915
UnitedHealth Group, Inc.	175,651		10,526,764
			231,414,857
Health Care Technology - 0.4%
Cerner Corp. (a)	379,900		36,762,923
Life Sciences Tools & Services - 0.5%
Illumina, Inc. (a)	205,000		13,261,450
Thermo Fisher Scientific, Inc.	476,300		38,427,884
			51,689,334
Pharmaceuticals - 3.9%
AbbVie, Inc.	2,086,600		96,087,930
Allergan, Inc.	507,713		57,650,811
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Merck & Co., Inc.	1,252,746		$ 58,879,062
Pfizer, Inc.	6,675,683		194,062,105
			406,679,908
TOTAL HEALTH CARE			1,303,830,067
INDUSTRIALS - 10.4%
Aerospace & Defense - 1.9%
Honeywell International, Inc.	1,296,805		95,367,040
Precision Castparts Corp.	328,790		62,894,239
TransDigm Group, Inc.	288,500		42,351,800
			200,613,079
Building Products - 0.4%
Armstrong World Industries, Inc.	802,153		40,941,889
Electrical Equipment - 3.2%
AMETEK, Inc.	1,627,300		66,247,383
Eaton Corp. PLC	1,119,200		68,730,072
Hubbell, Inc. Class B	661,300		63,458,348
Regal-Beloit Corp.	478,388		37,610,865
Rockwell Automation, Inc.	407,000		34,505,460
Roper Industries, Inc.	513,322		61,418,977
			331,971,105
Industrial Conglomerates - 1.9%
3M Co.	965,400		101,087,034
Danaher Corp.	1,520,696		92,671,214
			193,758,248
Machinery - 1.1%
Cummins, Inc.	513,082		54,586,794
Ingersoll-Rand PLC	1,041,600		56,038,080
			110,624,874
Professional Services - 0.5%
Verisk Analytics, Inc. (a)	891,600		54,646,164
Road & Rail - 0.4%
J.B. Hunt Transport Services, Inc.	639,350		45,438,605
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Trading Companies & Distributors - 1.0%
MSC Industrial Direct Co., Inc. Class A	579,998		$ 45,703,842
W.W. Grainger, Inc.	250,043		61,628,098
			107,331,940
TOTAL INDUSTRIALS			1,085,325,904
INFORMATION TECHNOLOGY - 16.6%
Communications Equipment - 1.6%
Cisco Systems, Inc.	6,959,200		145,586,464
Juniper Networks, Inc. (a)	601,200		9,949,860
Polycom, Inc. (a)	550,000		5,775,000
			161,311,324
Computers & Peripherals - 2.4%
Apple, Inc.	500,806		221,731,860
SanDisk Corp. (a)	226,107		11,857,051
Western Digital Corp.	348,000		19,237,440
			252,826,351
Electronic Equipment & Components - 0.4%
Jabil Circuit, Inc.	2,386,865		42,486,197
Internet Software & Services - 2.5%
eBay, Inc. (a)	1,876,900		98,330,791
Google, Inc. Class A (a)	199,700		164,666,629
			262,997,420
IT Services - 2.3%
Amdocs Ltd.	1,132,657		40,435,855
Fidelity National Information Services, Inc.	1,338,800		56,296,540
Fiserv, Inc. (a)	432,000		39,359,520
FleetCor Technologies, Inc. (a)	91,600		7,044,040
Global Payments, Inc.	754,900		35,027,360
Total System Services, Inc.	468,700		11,070,694
Visa, Inc. Class A	309,900		52,205,754
			241,439,763
Semiconductors & Semiconductor Equipment - 2.1%
Altera Corp.	1,446,659		46,307,555
Analog Devices, Inc.	584,082		25,693,767
Avago Technologies Ltd.	355,475		11,360,981
Broadcom Corp. Class A	1,802,000		64,872,000
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Micron Technology, Inc. (a)	5,068,700		$ 47,747,154
Skyworks Solutions, Inc. (a)	1,107,231		24,436,588
			220,418,045
Software - 5.3%
Autodesk, Inc. (a)	701,800		27,636,884
BMC Software, Inc. (a)	403,900		18,369,372
Compuware Corp. (a)	3,091,000		37,092,000
Concur Technologies, Inc. (a)	523,700		38,287,707
Electronic Arts, Inc. (a)	2,429,100		42,776,451
Intuit, Inc.	614,966		36,676,572
Microsoft Corp.	2,120,100		70,175,310
Nuance Communications, Inc. (a)	1,149,900		21,894,096
Oracle Corp.	4,769,700		156,350,766
Red Hat, Inc. (a)	251,600		12,059,188
salesforce.com, Inc. (a)	640,604		26,335,230
ServiceNow, Inc.	150,000		6,144,000
SolarWinds, Inc. (a)	35,000		1,779,750
Symantec Corp. (a)	853,800		20,747,340
Synopsys, Inc. (a)	397,100		14,124,847
VMware, Inc. Class A (a)	369,100		26,021,550
			556,471,063
TOTAL INFORMATION TECHNOLOGY			1,737,950,163
MATERIALS - 3.7%
Chemicals - 2.8%
Albemarle Corp.	338,905		20,757,931
Ashland, Inc.	294,100		25,060,261
Eastman Chemical Co.	444,903		29,652,785
Ecolab, Inc.	401,495		33,974,507
FMC Corp.	453,700		27,539,590
LyondellBasell Industries NV Class A	685,778		41,626,725
Monsanto Co.	526,800		56,272,776
PPG Industries, Inc.	218,200		32,105,948
Sigma Aldrich Corp.	325,000		25,574,250
			292,564,773
Construction Materials - 0.2%
Vulcan Materials Co.	387,500		19,328,500
Common Stocks - continued
	Shares		Value
MATERIALS - continued
Containers & Packaging - 0.5%
Ball Corp.	431,477		$ 19,036,765
Rock-Tenn Co. Class A	358,130		35,863,138
			54,899,903
Metals & Mining - 0.2%
Royal Gold, Inc.	265,300		14,745,374
TOTAL MATERIALS			381,538,550
TELECOMMUNICATION SERVICES - 2.9%
Diversified Telecommunication Services - 1.8%
AT&T, Inc.	220,290		8,252,063
CenturyLink, Inc.	602,616		22,640,283
Level 3 Communications, Inc. (a)	580,700		11,689,491
tw telecom, inc. (a)	201,800		5,464,744
Verizon Communications, Inc.	2,615,693		141,012,010
			189,058,591
Wireless Telecommunication Services - 1.1%
Crown Castle International Corp. (a)	352,312		27,128,024
MetroPCS Communications, Inc. (a)	722,527		8,554,720
SBA Communications Corp. Class A (a)	727,100		57,433,629
Sprint Nextel Corp. (a)	2,536,227		17,880,400
			110,996,773
TOTAL TELECOMMUNICATION SERVICES			300,055,364
UTILITIES - 3.6%
Electric Utilities - 1.7%
American Electric Power Co., Inc.	786,547		40,452,112
Duke Energy Corp.	967,331		72,743,291
Edison International	633,373		34,075,467
FirstEnergy Corp.	722,739		33,679,637
			180,950,507
Gas Utilities - 0.1%
ONEOK, Inc.	155,082		7,965,012
Independent Power Producers & Energy Traders - 0.5%
NRG Energy, Inc.	914,918		25,498,765
The AES Corp.	1,454,764		20,163,029
			45,661,794
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Multi-Utilities - 1.3%
Ameren Corp.	103,800		$ 3,762,750
CenterPoint Energy, Inc.	1,271,056		31,369,662
Dominion Resources, Inc.	247,400		15,259,632
NiSource, Inc.	476,136		14,631,659
PG&E Corp.	832,167		40,310,169
Sempra Energy	399,439		33,093,521
			138,427,393
TOTAL UTILITIES			373,004,706
TOTAL COMMON STOCKS (Cost $8,548,076,558)		10,263,225,990

U.S. Treasury Obligations - 0.0%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.05% to 0.05% 7/5/13 to 7/18/13 (e) (Cost $4,399,618)	$ 4,400,000	4,399,742

Money Market Funds - 2.3%
	Shares
Fidelity Cash Central Fund, 0.13% (b)	196,382,338		196,382,338
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	46,119,900		46,119,900
TOTAL MONEY MARKET FUNDS (Cost $242,502,238)		242,502,238
TOTAL INVESTMENT PORTFOLIO - 100.6% (Cost $8,794,978,414)			10,510,127,970
NET OTHER ASSETS (LIABILITIES) - (0.6)%			(63,842,962)
NET ASSETS - 100%		$ 10,446,285,008

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
1,192 CME E-mini S&P 500 Index Contracts	June 2013	$ 94,895,120	$ 2,169,483

The face value of futures purchased as a percentage of net assets is 0.9%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $4,399,742.

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

(g) 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 $6,867,885 or 0.1% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
Legend Pictures LLC	9/23/10	$ 2,779,500

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 86,722
Fidelity Securities Lending Cash Central Fund	52,852
Total	$ 139,574

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 1,269,134,447	$ 1,262,266,559	$ -	$ 6,867,888
Consumer Staples	1,047,374,848	1,047,374,848	-	-
Energy	1,043,013,931	1,043,013,931	-	-
Financials	1,721,998,010	1,721,998,010	-	-
Health Care	1,303,830,067	1,303,830,067	-	-
Industrials	1,085,325,904	1,085,325,904	-	-
Information Technology	1,737,950,163	1,737,950,163	-	-
Materials	381,538,550	381,538,550	-	-
Telecommunication Services	300,055,364	300,055,364	-	-
Utilities	373,004,706	373,004,706	-	-
U.S. Government and Government Agency Obligations	4,399,742	-	4,399,742	-
Money Market Funds	242,502,238	242,502,238	-	-
Total Investments in Securities:	$ 10,510,127,970	$ 10,498,860,340	$ 4,399,742	$ 6,867,888
Derivative Instruments:
Assets
Futures Contracts	$ 2,169,483	$ 2,169,483	$ -	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $8,812,702,456. Net unrealized appreciation aggregated $1,697,425,514, of which $1,761,771,152 related to appreciated investment securities and $64,345,638 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. 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:

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Series
Equity-Income Fund

April 30, 2013

1.950996.100

EDT-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 95.8%
	Shares		Value
CONSUMER DISCRETIONARY - 9.2%
Auto Components - 0.2%
Gentex Corp.	626,100		$ 14,087,250
Hotels, Restaurants & Leisure - 0.9%
McDonald's Corp.	278,500		28,445,990
Texas Roadhouse, Inc. Class A	630,137		14,808,220
Yum! Brands, Inc.	125,600		8,555,872
			51,810,082
Media - 4.5%
Comcast Corp. Class A	4,131,300		170,622,690
Time Warner, Inc.	1,372,346		82,038,844
			252,661,534
Multiline Retail - 2.6%
Kohl's Corp.	719,600		33,864,376
Target Corp.	1,572,400		110,948,544
			144,812,920
Specialty Retail - 1.0%
Lowe's Companies, Inc.	1,070,668		41,135,065
Staples, Inc.	1,093,700		14,480,588
			55,615,653
TOTAL CONSUMER DISCRETIONARY			518,987,439
CONSUMER STAPLES - 10.7%
Beverages - 1.2%
Molson Coors Brewing Co. Class B	443,500		22,884,600
The Coca-Cola Co.	1,019,900		43,172,367
			66,056,967
Food & Staples Retailing - 3.0%
CVS Caremark Corp.	199,200		11,589,456
Safeway, Inc. (d)	847,379		19,082,975
Sysco Corp.	530,600		18,496,716
Wal-Mart Stores, Inc.	369,500		28,717,540
Walgreen Co.	1,904,738		94,303,578
			172,190,265
Food Products - 1.4%
Kellogg Co.	1,189,700		77,378,088
Household Products - 2.9%
Procter & Gamble Co.	2,121,500		162,867,555
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Tobacco - 2.2%
Altria Group, Inc.	2,052,400		$ 74,933,124
Lorillard, Inc.	746,624		32,022,703
Philip Morris International, Inc.	196,800		18,812,112
			125,767,939
TOTAL CONSUMER STAPLES			604,260,814
ENERGY - 14.0%
Energy Equipment & Services - 0.7%
Halliburton Co.	335,700		14,357,889
National Oilwell Varco, Inc.	207,100		13,507,062
Schlumberger Ltd.	165,000		12,280,950
			40,145,901
Oil, Gas & Consumable Fuels - 13.3%
Apache Corp.	457,935		33,832,238
Chevron Corp.	2,119,503		258,600,559
EV Energy Partners LP	311,400		14,498,784
Exxon Mobil Corp.	2,437,300		216,895,327
Hess Corp.	312,300		22,541,814
Holly Energy Partners LP	271,200		10,658,160
HollyFrontier Corp.	255,673		12,643,030
Legacy Reserves LP	275,000		7,335,625
Markwest Energy Partners LP	391,377		24,735,026
Murphy Oil Corp.	233,900		14,522,851
Occidental Petroleum Corp.	622,932		55,602,910
Pioneer Southwest Energy Partners LP	233,300		6,112,460
The Williams Companies, Inc.	1,654,100		63,070,833
Tsakos Energy Navigation Ltd.	693,398		2,621,044
Williams Partners LP	145,700		7,962,505
			751,633,166
TOTAL ENERGY			791,779,067
FINANCIALS - 23.6%
Capital Markets - 3.3%
Apollo Investment Corp.	2,290,213		20,176,777
Artisan Partners Asset Management, Inc.	9,300		346,890
BlackRock, Inc. Class A	134,400		35,817,600
Charles Schwab Corp.	1,983,700		33,643,552
KKR & Co. LP	1,434,779		30,130,359
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Capital Markets - continued
Morgan Stanley	2,530,400		$ 56,048,360
The Blackstone Group LP	682,800		14,031,540
			190,195,078
Commercial Banks - 6.9%
CIT Group, Inc. (a)	124,600		5,296,746
Comerica, Inc.	681,100		24,689,875
Cullen/Frost Bankers, Inc.	335,700		20,279,637
M&T Bank Corp.	413,500		41,432,700
PNC Financial Services Group, Inc.	169,400		11,498,872
SunTrust Banks, Inc.	306,800		8,973,900
U.S. Bancorp	1,525,800		50,778,624
Wells Fargo & Co.	5,962,200		226,444,356
			389,394,710
Diversified Financial Services - 4.9%
Bank of America Corp.	1,180,687		14,534,257
JPMorgan Chase & Co.	4,558,700		223,421,887
KKR Financial Holdings LLC	3,604,100		38,527,829
			276,483,973
Insurance - 6.0%
ACE Ltd.	539,518		48,092,635
AFLAC, Inc.	721,100		39,256,684
Assured Guaranty Ltd.	487,400		10,055,062
Hanover Insurance Group, Inc.	289,900		14,619,657
MetLife, Inc.	3,672,400		143,186,876
Prudential Financial, Inc.	905,100		54,686,142
Validus Holdings Ltd.	756,100		29,193,021
			339,090,077
Real Estate Investment Trusts - 2.4%
American Capital Agency Corp.	557,900		18,583,649
Annaly Capital Management, Inc.	2,245,200		35,788,488
CommonWealth REIT	250,052		5,583,661
DCT Industrial Trust, Inc.	467,440		3,660,055
First Potomac Realty Trust	478,483		7,655,728
Home Properties, Inc.	270,700		17,449,322
Lexington Corporate Properties Trust	294,440		3,771,776
Rayonier, Inc.	370,300		22,003,226
Retail Properties America, Inc.	722,250		11,057,648
Ventas, Inc.	114,500		9,117,635
			134,671,188
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Thrifts & Mortgage Finance - 0.1%
Radian Group, Inc.	511,600		$ 6,113,620
TOTAL FINANCIALS			1,335,948,646
HEALTH CARE - 11.9%
Biotechnology - 0.2%
PDL BioPharma, Inc. (d)	1,180,400		9,136,296
Health Care Equipment & Supplies - 0.7%
Baxter International, Inc.	105,519		7,372,613
Covidien PLC	313,400		20,007,456
St. Jude Medical, Inc.	334,500		13,788,090
			41,168,159
Health Care Providers & Services - 2.8%
Aetna, Inc.	553,400		31,787,296
Quest Diagnostics, Inc.	339,716		19,136,202
UnitedHealth Group, Inc.	691,900		41,465,567
WellPoint, Inc.	894,800		65,248,816
			157,637,881
Health Care Technology - 0.1%
Quality Systems, Inc.	422,614		7,552,112
Pharmaceuticals - 8.1%
AbbVie, Inc.	885,300		40,768,065
Eli Lilly & Co.	715,943		39,648,923
Johnson & Johnson	1,704,600		145,283,058
Merck & Co., Inc.	2,860,500		134,443,500
Pfizer, Inc.	2,566,677		74,613,300
Warner Chilcott PLC	1,509,975		21,713,441
			456,470,287
TOTAL HEALTH CARE			671,964,735
INDUSTRIALS - 9.2%
Aerospace & Defense - 1.0%
Raytheon Co.	420,645		25,819,190
United Technologies Corp.	359,400		32,809,626
			58,628,816
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - 2.0%
C.H. Robinson Worldwide, Inc.	599,000		$ 35,574,610
United Parcel Service, Inc. Class B	914,000		78,457,760
			114,032,370
Commercial Services & Supplies - 1.2%
Pitney Bowes, Inc. (d)	434,798		5,943,689
Republic Services, Inc.	1,875,407		63,913,871
			69,857,560
Electrical Equipment - 0.6%
Eaton Corp. PLC	151,500		9,303,615
Emerson Electric Co.	245,440		13,624,374
Hubbell, Inc. Class B	116,081		11,139,133
			34,067,122
Industrial Conglomerates - 2.7%
General Electric Co.	6,910,800		154,041,732
Machinery - 1.2%
Briggs & Stratton Corp.	310,610		6,985,619
Cummins, Inc.	110,268		11,731,413
Illinois Tool Works, Inc.	176,485		11,393,872
Stanley Black & Decker, Inc.	494,641		37,004,093
			67,114,997
Road & Rail - 0.5%
CSX Corp.	1,022,600		25,145,734
TOTAL INDUSTRIALS			522,888,331
INFORMATION TECHNOLOGY - 9.5%
Communications Equipment - 2.3%
Cisco Systems, Inc.	6,167,900		129,032,468
Computers & Peripherals - 0.6%
Apple, Inc.	71,697		31,743,847
IT Services - 3.8%
Fidelity National Information Services, Inc.	108,406		4,558,472
IBM Corp.	267,929		54,266,340
Paychex, Inc.	4,070,110		148,192,705
The Western Union Co.	670,300		9,927,143
			216,944,660
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - 1.3%
Applied Materials, Inc.	4,238,330		$ 61,498,168
KLA-Tencor Corp.	282,900		15,347,325
			76,845,493
Software - 1.5%
CA Technologies, Inc.	789,000		21,279,330
Microsoft Corp.	1,972,100		65,276,510
			86,555,840
TOTAL INFORMATION TECHNOLOGY			541,122,308
MATERIALS - 0.5%
Chemicals - 0.3%
Eastman Chemical Co.	162,415		10,824,960
RPM International, Inc.	227,952		7,385,645
			18,210,605
Metals & Mining - 0.2%
Commercial Metals Co.	780,861		11,416,188
TOTAL MATERIALS			29,626,793
TELECOMMUNICATION SERVICES - 3.5%
Diversified Telecommunication Services - 3.5%
AT&T, Inc.	3,208,400		120,186,664
CenturyLink, Inc.	860,000		32,310,200
Verizon Communications, Inc.	855,500		46,120,005
			198,616,869
UTILITIES - 3.7%
Electric Utilities - 2.9%
Duke Energy Corp.	392,460		29,512,992
Edison International	178,238		9,589,204
FirstEnergy Corp.	570,600		26,589,960
Hawaiian Electric Industries, Inc.	304,000		8,603,200
Northeast Utilities	300,100		13,603,533
PPL Corp.	1,380,008		46,064,667
Southern Co.	583,500		28,142,205
			162,105,761
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Multi-Utilities - 0.8%
PG&E Corp.	379,100		$ 18,363,604
Sempra Energy	353,402		29,279,356
			47,642,960
TOTAL UTILITIES			209,748,721
TOTAL COMMON STOCKS (Cost $4,881,473,069)		5,424,943,723
Money Market Funds - 4.4%

Fidelity Cash Central Fund, 0.13% (b)	232,227,095		232,227,095
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	16,577,525		16,577,525
TOTAL MONEY MARKET FUNDS (Cost $248,804,620)		248,804,620
TOTAL INVESTMENT PORTFOLIO - 100.2% (Cost $5,130,277,689)			5,673,748,343
NET OTHER ASSETS (LIABILITIES) - (0.2)%			(8,877,917)
NET ASSETS - 100%		$ 5,664,870,426

Legend

(a) Non-income producing

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

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 60,789
Fidelity Securities Lending Cash Central Fund	71,492
Total	$ 132,281

Other Information

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $5,131,496,666. Net unrealized appreciation aggregated $542,251,677, of which $559,524,093 related to appreciated investment securities and $17,272,416 related to depreciated investment securities.

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Series Large Cap
Value Fund

April 30, 2013

1.884775.101

LPV-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.7%
	Shares		Value
CONSUMER DISCRETIONARY - 5.8%
Automobiles - 0.7%
Ford Motor Co.	2,865,682		$ 39,288,500
Diversified Consumer Services - 2.4%
Apollo Group, Inc. Class A (non-vtg.) (a)	5,808,320		106,698,838
DeVry, Inc.	1,536,748		43,044,311
			149,743,149
Media - 2.1%
DISH Network Corp. Class A	731,042		28,649,536
Washington Post Co. Class B (d)	232,001		102,855,323
			131,504,859
Multiline Retail - 0.6%
J.C. Penney Co., Inc. (d)	2,240,983		36,796,941
TOTAL CONSUMER DISCRETIONARY			357,333,449
CONSUMER STAPLES - 7.9%
Beverages - 0.3%
PepsiCo, Inc.	259,264		21,381,502
Food & Staples Retailing - 2.6%
CVS Caremark Corp.	1,226,382		71,350,905
Wal-Mart Stores, Inc.	1,110,900		86,339,148
			157,690,053
Food Products - 3.2%
Kraft Foods Group, Inc.	1,886,085		97,114,517
Mondelez International, Inc.	2,801,012		88,091,827
Pinnacle Foods, Inc.	657,011		15,682,853
			200,889,197
Household Products - 1.8%
Procter & Gamble Co.	1,446,424		111,041,970
TOTAL CONSUMER STAPLES			491,002,722
ENERGY - 17.1%
Energy Equipment & Services - 3.1%
Cameron International Corp. (a)	747,332		45,998,285
Halliburton Co.	3,414,626		146,043,554
			192,041,839
Oil, Gas & Consumable Fuels - 14.0%
Anadarko Petroleum Corp.	1,841,576		156,091,982
Apache Corp.	329,438		24,338,879
Common Stocks - continued
	Shares		Value
ENERGY - continued
Oil, Gas & Consumable Fuels - continued
Chevron Corp.	1,922,152		$ 234,521,766
Exxon Mobil Corp.	3,082,688		274,328,405
Occidental Petroleum Corp.	1,814,189		161,934,510
Phillips 66	264,964		16,149,556
			867,365,098
TOTAL ENERGY			1,059,406,937
FINANCIALS - 24.4%
Capital Markets - 4.1%
Bank of New York Mellon Corp.	1,934,600		54,594,412
E*TRADE Financial Corp. (a)	7,994,086		82,259,145
Goldman Sachs Group, Inc.	233,131		34,053,445
Raymond James Financial, Inc.	422,400		17,495,808
State Street Corp.	1,134,799		66,351,698
			254,754,508
Commercial Banks - 6.4%
Comerica, Inc.	357,600		12,963,000
Fifth Third Bancorp	4,927,242		83,910,931
KeyCorp	12,771,224		127,329,103
PNC Financial Services Group, Inc.	172,497		11,709,096
U.S. Bancorp	1,181,721		39,327,675
Wells Fargo & Co.	2,232,449		84,788,413
Zions Bancorporation	1,438,552		35,417,150
			395,445,368
Consumer Finance - 1.6%
Capital One Financial Corp.	1,718,191		99,277,076
Diversified Financial Services - 7.2%
Bank of America Corp.	7,087,432		87,246,288
Citigroup, Inc.	4,602,861		214,769,494
JPMorgan Chase & Co.	2,972,550		145,684,676
			447,700,458
Insurance - 4.8%
Allstate Corp.	953,560		46,972,366
American International Group, Inc. (a)	904,161		37,450,349
Assurant, Inc.	475,370		22,599,090
MetLife, Inc.	426,121		16,614,458
RenaissanceRe Holdings Ltd.	641,130		60,195,696
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - continued
The Chubb Corp.	651,761		$ 57,400,591
XL Group PLC Class A	1,807,172		56,275,336
			297,507,886
Real Estate Investment Trusts - 0.3%
Weyerhaeuser Co.	554,990		16,932,745
TOTAL FINANCIALS			1,511,618,041
HEALTH CARE - 12.0%
Health Care Providers & Services - 0.6%
HCA Holdings, Inc.	969,543		38,675,070
Pharmaceuticals - 11.4%
Eli Lilly & Co.	132,357		7,329,931
Johnson & Johnson	396,889		33,826,849
Merck & Co., Inc.	5,270,278		247,703,066
Pfizer, Inc.	10,643,922		309,418,811
Zoetis, Inc. Class A	3,204,971		105,828,142
			704,106,799
TOTAL HEALTH CARE			742,781,869
INDUSTRIALS - 7.5%
Aerospace & Defense - 2.2%
Textron, Inc.	5,158,299		132,826,199
Construction & Engineering - 0.7%
Jacobs Engineering Group, Inc. (a)	879,807		44,412,657
Industrial Conglomerates - 4.6%
General Electric Co.	12,759,071		284,399,693
TOTAL INDUSTRIALS			461,638,549
INFORMATION TECHNOLOGY - 11.8%
Communications Equipment - 0.9%
Cisco Systems, Inc.	2,718,315		56,867,150
Computers & Peripherals - 0.9%
Hewlett-Packard Co.	2,587,429		53,301,037
Internet Software & Services - 2.5%
Yahoo!, Inc. (a)	6,081,200		150,388,076
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Office Electronics - 1.6%
Xerox Corp.	11,590,182		$ 99,443,762
Semiconductors & Semiconductor Equipment - 1.2%
Intel Corp.	780,600		18,695,370
Micron Technology, Inc. (a)	6,013,468		56,646,869
			75,342,239
Software - 4.7%
Activision Blizzard, Inc.	5,503,042		82,270,478
Comverse, Inc.	898,573		23,839,142
Microsoft Corp.	707,750		23,426,525
Symantec Corp. (a)	4,538,300		110,280,690
Verint Systems, Inc. (a)	1,579,198		52,176,702
			291,993,537
TOTAL INFORMATION TECHNOLOGY			727,335,801
MATERIALS - 4.9%
Chemicals - 1.1%
The Dow Chemical Co.	1,995,803		67,677,680
Containers & Packaging - 0.6%
Crown Holdings, Inc. (a)	861,047		36,749,486
Metals & Mining - 2.3%
Freeport-McMoRan Copper & Gold, Inc.	844,671		25,703,339
Newmont Mining Corp.	3,595,994		116,510,206
			142,213,545
Paper & Forest Products - 0.9%
International Paper Co.	1,265,102		59,434,492
TOTAL MATERIALS			306,075,203
TELECOMMUNICATION SERVICES - 1.9%
Diversified Telecommunication Services - 0.4%
tw telecom, inc. (a)	807,661		21,871,460
Wireless Telecommunication Services - 1.5%
Sprint Nextel Corp. (a)	13,537,623		95,440,242
TOTAL TELECOMMUNICATION SERVICES			117,311,702
UTILITIES - 0.4%
Multi-Utilities - 0.4%
Sempra Energy	264,200		21,888,970
TOTAL COMMON STOCKS (Cost $4,849,200,375)		5,796,393,243

U.S. Treasury Obligations - 0.1%
	Principal Amount	Value
U.S. Treasury Bills, yield at date of purchase 0.07% 5/30/13 (e) (Cost $5,669,697)	$ 5,670,000	$ 5,669,898

Money Market Funds - 7.3%
	Shares
Fidelity Cash Central Fund, 0.13% (b)	406,218,191		406,218,191
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	46,588,245		46,588,245
TOTAL MONEY MARKET FUNDS (Cost $452,806,436)		452,806,436
TOTAL INVESTMENT PORTFOLIO - 101.1% (Cost $5,307,676,508)			6,254,869,577
NET OTHER ASSETS (LIABILITIES) - (1.1)%			(70,415,878)
NET ASSETS - 100%		$ 6,184,453,699

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
1,152 ICE Russell 1000 Value Index Contracts	June 2013	$ 93,070,080	$ 1,207,066

The face value of futures purchased as a percentage of net assets is 1.5%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $2,554,954.

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 152,568
Fidelity Securities Lending Cash Central Fund	456,897
Total	$ 609,465

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 357,333,449	$ 357,333,449	$ -	$ -
Consumer Staples	491,002,722	491,002,722	-	-
Energy	1,059,406,937	1,059,406,937	-	-
Financials	1,511,618,041	1,511,618,041	-	-
Health Care	742,781,869	742,781,869	-	-
Industrials	461,638,549	461,638,549	-	-
Information Technology	727,335,801	727,335,801	-	-
Materials	306,075,203	306,075,203	-	-
Telecommunication Services	117,311,702	117,311,702	-	-
Utilities	21,888,970	21,888,970	-	-
U.S. Government and Government Agency Obligations	5,669,898	-	5,669,898	-
Money Market Funds	452,806,436	452,806,436	-	-
Total Investments in Securities:	$ 6,254,869,577	$ 6,249,199,679	$ 5,669,898	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 1,207,066	$ 1,207,066	$ -	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $5,345,543,560. Net unrealized appreciation aggregated $909,326,017, of which $1,035,316,837 related to appreciated investment securities and $125,990,820 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. 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:

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Series Stock Selector
Large Cap Value Fund

April 30, 2013

1.950976.100

LDT-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.1%
	Shares		Value
CONSUMER DISCRETIONARY - 8.5%
Auto Components - 1.3%
Delphi Automotive PLC	1,073,458		$ 49,604,494
TRW Automotive Holdings Corp. (a)	436,723		26,233,951
			75,838,445
Household Durables - 1.3%
Jarden Corp. (a)	592,177		26,653,887
Whirlpool Corp.	391,668		44,759,819
			71,413,706
Internet & Catalog Retail - 0.6%
Liberty Media Corp. Interactive Series A (a)	1,722,714		36,676,581
Media - 2.7%
Comcast Corp. Class A	1,959,767		80,938,377
News Corp. Class A	2,349,740		72,771,448
			153,709,825
Multiline Retail - 1.9%
Macy's, Inc.	903,024		40,274,870
Target Corp.	941,927		66,462,369
			106,737,239
Specialty Retail - 0.7%
Staples, Inc.	2,808,888		37,189,677
TOTAL CONSUMER DISCRETIONARY			481,565,473
CONSUMER STAPLES - 7.6%
Beverages - 1.4%
Coca-Cola Enterprises, Inc.	713,000		26,117,190
Dr. Pepper Snapple Group, Inc.	397,800		19,424,574
Molson Coors Brewing Co. Class B	631,147		32,567,185
			78,108,949
Food & Staples Retailing - 1.5%
Wal-Mart Stores, Inc.	370,868		28,823,861
Walgreen Co.	1,200,317		59,427,695
			88,251,556
Food Products - 2.6%
Archer Daniels Midland Co.	1,092,792		37,089,360
Mondelez International, Inc.	2,458,400		77,316,680
The J.M. Smucker Co.	319,885		33,021,729
			147,427,769
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Household Products - 1.7%
Procter & Gamble Co.	1,279,513		$ 98,228,213
Tobacco - 0.4%
Lorillard, Inc.	481,505		20,651,749
TOTAL CONSUMER STAPLES			432,668,236
ENERGY - 15.1%
Energy Equipment & Services - 1.8%
Cameron International Corp. (a)	789,700		48,606,035
National Oilwell Varco, Inc.	808,624		52,738,457
			101,344,492
Oil, Gas & Consumable Fuels - 13.3%
Anadarko Petroleum Corp.	1,041,700		88,294,492
Energen Corp.	894,000		42,393,480
Exxon Mobil Corp.	4,050,100		360,418,401
Occidental Petroleum Corp.	1,845,818		164,757,715
Phillips 66	1,137,000		69,300,150
The Williams Companies, Inc.	815,541		31,096,578
			756,260,816
TOTAL ENERGY			857,605,308
FINANCIALS - 26.4%
Capital Markets - 3.1%
BlackRock, Inc. Class A	348,600		92,901,900
State Street Corp.	1,479,600		86,512,212
			179,414,112
Commercial Banks - 8.1%
CIT Group, Inc. (a)	1,404,100		59,688,291
PNC Financial Services Group, Inc.	1,216,600		82,582,808
Popular, Inc. (a)	1,141,017		32,507,574
U.S. Bancorp	2,985,300		99,350,784
Wells Fargo & Co.	4,902,800		186,208,344
			460,337,801
Consumer Finance - 1.5%
Capital One Financial Corp.	1,439,900		83,197,422
Diversified Financial Services - 0.9%
The NASDAQ Stock Market, Inc.	1,687,365		49,743,520
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Insurance - 10.1%
ACE Ltd.	838,400		$ 74,734,976
AFLAC, Inc.	1,008,200		54,886,408
Axis Capital Holdings Ltd.	1,519,600		67,819,748
Berkshire Hathaway, Inc. Class B (a)	1,861,200		197,882,784
MetLife, Inc.	1,642,300		64,033,277
Reinsurance Group of America, Inc.	781,500		48,882,825
The Travelers Companies, Inc.	791,700		67,619,097
			575,859,115
Real Estate Investment Trusts - 1.9%
Boston Properties, Inc.	512,500		56,082,875
Simon Property Group, Inc.	286,744		51,060,504
			107,143,379
Real Estate Management & Development - 0.8%
CBRE Group, Inc. (a)	1,828,790		44,293,294
TOTAL FINANCIALS			1,499,988,643
HEALTH CARE - 11.3%
Health Care Equipment & Supplies - 0.8%
St. Jude Medical, Inc.	1,055,700		43,515,954
Health Care Providers & Services - 4.9%
HCA Holdings, Inc.	1,350,600		53,875,434
Quest Diagnostics, Inc.	985,500		55,513,215
UnitedHealth Group, Inc.	1,846,400		110,654,752
WellPoint, Inc.	802,800		58,540,176
			278,583,577
Pharmaceuticals - 5.6%
Endo Health Solutions, Inc. (a)	908,496		33,287,293
Johnson & Johnson	925,959		78,919,486
Merck & Co., Inc.	3,766,900		177,044,300
Pfizer, Inc.	1,121,536		32,603,052
			321,854,131
TOTAL HEALTH CARE			643,953,662
INDUSTRIALS - 8.3%
Aerospace & Defense - 0.8%
General Dynamics Corp.	648,440		47,958,622
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Air Freight & Logistics - 0.9%
FedEx Corp.	510,777		$ 48,018,146
Commercial Services & Supplies - 0.6%
Waste Management, Inc.	778,505		31,903,135
Construction & Engineering - 1.7%
AECOM Technology Corp. (a)	1,583,004		46,017,926
URS Corp.	1,148,373		50,436,542
			96,454,468
Industrial Conglomerates - 3.1%
Danaher Corp.	294,699		17,958,957
General Electric Co.	7,149,348		159,358,967
			177,317,924
Machinery - 0.3%
Terex Corp. (a)	647,899		18,529,911
Professional Services - 0.3%
Towers Watson & Co.	222,512		16,225,575
Road & Rail - 0.6%
CSX Corp.	1,436,717		35,328,871
TOTAL INDUSTRIALS			471,736,652
INFORMATION TECHNOLOGY - 6.1%
Communications Equipment - 1.4%
Cisco Systems, Inc.	3,790,507		79,297,406
Computers & Peripherals - 0.8%
Hewlett-Packard Co.	2,287,100		47,114,260
Electronic Equipment & Components - 1.3%
Corning, Inc.	1,598,200		23,173,900
Jabil Circuit, Inc.	1,649,241		29,356,490
Tech Data Corp. (a)	423,277		19,779,734
			72,310,124
IT Services - 0.6%
Amdocs Ltd.	360,200		12,859,140
Global Payments, Inc.	460,135		21,350,264
			34,209,404
Semiconductors & Semiconductor Equipment - 1.7%
Avago Technologies Ltd.	751,557		24,019,762
Broadcom Corp. Class A	839,890		30,236,040
Freescale Semiconductor Holdings I Ltd. (a)	872,089		13,499,938
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Intersil Corp. Class A	1,808,823		$ 14,036,466
ON Semiconductor Corp. (a)	1,516,800		11,922,048
			93,714,254
Software - 0.3%
Symantec Corp. (a)	747,966		18,175,574
TOTAL INFORMATION TECHNOLOGY			344,821,022
MATERIALS - 3.5%
Chemicals - 2.6%
Air Products & Chemicals, Inc.	514,800		44,767,008
Ashland, Inc.	329,900		28,110,779
Eastman Chemical Co.	468,700		31,238,855
LyondellBasell Industries NV Class A	756,700		45,931,690
			150,048,332
Containers & Packaging - 0.9%
Rock-Tenn Co. Class A	510,300		51,101,442
TOTAL MATERIALS			201,149,774
TELECOMMUNICATION SERVICES - 3.5%
Diversified Telecommunication Services - 2.9%
AT&T, Inc.	2,617,795		98,062,601
CenturyLink, Inc.	1,489,358		55,955,180
Frontier Communications Corp. (d)	2,148,287		8,936,874
			162,954,655
Wireless Telecommunication Services - 0.6%
NII Holdings, Inc. (a)(d)	3,959,440		34,447,128
TOTAL TELECOMMUNICATION SERVICES			197,401,783
UTILITIES - 6.8%
Electric Utilities - 3.4%
Edison International	746,200		40,145,560
ITC Holdings Corp.	378,700		34,923,714
NextEra Energy, Inc.	402,800		33,041,684
Northeast Utilities	1,218,161		55,219,238
NV Energy, Inc.	1,255,500		27,156,465
			190,486,661
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 0.8%
Atmos Energy Corp.	467,331		$ 20,735,476
Questar Corp.	1,082,761		27,491,302
			48,226,778
Multi-Utilities - 2.6%
CMS Energy Corp.	1,200,200		35,933,988
NiSource, Inc.	1,024,800		31,492,104
PG&E Corp.	563,100		27,276,564
Sempra Energy	630,900		52,270,065
			146,972,721
TOTAL UTILITIES			385,686,160
TOTAL COMMON STOCKS (Cost $4,914,642,809)		5,516,576,713

U.S. Treasury Obligations - 0.0%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.04% to 0.06% 7/5/13 to 7/18/13 (e) (Cost $1,539,837)	$ 1,540,000	1,539,908

Money Market Funds - 2.9%
	Shares
Fidelity Cash Central Fund, 0.13% (b)	156,380,699		156,380,699
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	6,710,584		6,710,584
TOTAL MONEY MARKET FUNDS (Cost $163,091,283)		163,091,283
TOTAL INVESTMENT PORTFOLIO - 100.0% (Cost $5,079,273,929)			5,681,207,904
NET OTHER ASSETS (LIABILITIES) - 0.0%			354,397
NET ASSETS - 100%		$ 5,681,562,301

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
692 ICE Russell 1000 Value Index Contracts	June 2013	$ 55,906,680	$ 263,432

The face value of futures purchased as a percentage of net assets is 1%

Legend

(a) Non-income producing

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

(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $1,539,908.

Affiliated Central Funds

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

Fund	Income earned
Fidelity Cash Central Fund	$ 35,007
Fidelity Securities Lending Cash Central Fund	51,776
Total	$ 86,783

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 481,565,473	$ 481,565,473	$ -	$ -
Consumer Staples	432,668,236	432,668,236	-	-
Energy	857,605,308	857,605,308	-	-
Financials	1,499,988,643	1,499,988,643	-	-
Health Care	643,953,662	643,953,662	-	-
Industrials	471,736,652	471,736,652	-	-
Information Technology	344,821,022	344,821,022	-	-
Materials	201,149,774	201,149,774	-	-
Telecommunication Services	197,401,783	197,401,783	-	-
Utilities	385,686,160	385,686,160	-	-
U.S. Government and Government Agency Obligations	1,539,908	-	1,539,908	-
Money Market Funds	163,091,283	163,091,283	-	-
Total Investments in Securities:	$ 5,681,207,904	$ 5,679,667,996	$ 1,539,908	$ -
Derivative Instruments:
Assets
Futures Contracts	$ 263,432	$ 263,432	$ -	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $5,079,885,098. Net unrealized appreciation aggregated $601,322,806, of which $615,826,813 related to appreciated investment securities and $14,504,007 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. In accordance with valuation policies and procedures approved by the Board of Trustees (the Board), the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Fidelity Management & Research Company (FMR) Fair Value Committee (the Committee), in accordance with procedures adopted by the Fund's Board. Factors used in determining fair value vary by investment type and may include market or investment 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 Committee oversees the Fund's valuation policies and procedures and is responsible for approving and reporting to the Board all fair value determinations. 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:

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Stock Selector Large Cap Value Fund

April 30, 2013

1.800356.109

LCV-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%
	Shares		Value
CONSUMER DISCRETIONARY - 7.7%
Auto Components - 0.9%
Delphi Automotive PLC	103,200		$ 4,768,872
Household Durables - 1.2%
Jarden Corp. (a)	52,392		2,358,164
Whirlpool Corp.	34,500		3,942,660
			6,300,824
Internet & Catalog Retail - 0.5%
Liberty Media Corp. Interactive Series A (a)	132,300		2,816,667
Media - 2.7%
Comcast Corp. Class A	154,575		6,383,948
News Corp. Class A	188,400		5,834,748
Omnicom Group, Inc.	35,300		2,109,881
			14,328,577
Multiline Retail - 1.8%
Macy's, Inc.	77,450		3,454,270
Target Corp.	81,434		5,745,983
			9,200,253
Specialty Retail - 0.6%
Staples, Inc.	231,900		3,070,356
TOTAL CONSUMER DISCRETIONARY			40,485,549
CONSUMER STAPLES - 7.9%
Beverages - 1.4%
Coca-Cola Enterprises, Inc.	52,000		1,904,760
Dr. Pepper Snapple Group, Inc.	49,250		2,404,878
Molson Coors Brewing Co. Class B	53,900		2,781,240
			7,090,878
Food & Staples Retailing - 1.4%
Wal-Mart Stores, Inc.	28,500		2,215,020
Walgreen Co.	107,440		5,319,354
			7,534,374
Food Products - 2.6%
Archer Daniels Midland Co.	92,500		3,139,450
Mondelez International, Inc.	228,990		7,201,736
The J.M. Smucker Co.	30,120		3,109,288
			13,450,474
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Household Products - 2.1%
Procter & Gamble Co.	107,380		$ 8,243,563
Reckitt Benckiser Group PLC	35,400		2,582,264
			10,825,827
Tobacco - 0.4%
Lorillard, Inc.	55,000		2,358,950
TOTAL CONSUMER STAPLES			41,260,503
ENERGY - 15.4%
Energy Equipment & Services - 1.6%
Cameron International Corp. (a)	60,200		3,705,310
National Oilwell Varco, Inc.	70,400		4,591,488
			8,296,798
Oil, Gas & Consumable Fuels - 13.8%
Anadarko Petroleum Corp.	111,220		9,427,007
Canadian Natural Resources Ltd.	255,900		7,505,926
Exxon Mobil Corp.	154,600		13,757,854
Marathon Petroleum Corp.	63,800		4,999,368
Murphy Oil Corp.	54,500		3,383,905
Noble Energy, Inc.	39,680		4,495,347
Occidental Petroleum Corp.	143,578		12,815,772
Phillips 66	33,100		2,017,445
Suncor Energy, Inc.	301,700		9,406,320
The Williams Companies, Inc.	120,398		4,590,776
			72,399,720
TOTAL ENERGY			80,696,518
FINANCIALS - 26.3%
Capital Markets - 3.6%
Bank of New York Mellon Corp.	198,000		5,587,560
Invesco Ltd.	165,800		5,262,492
Morgan Stanley	153,700		3,404,455
State Street Corp.	62,000		3,625,140
SWS Group, Inc. (a)	196,000		1,115,240
			18,994,887
Commercial Banks - 8.2%
CIT Group, Inc. (a)	95,900		4,076,709
First Citizen Bancshares, Inc.	18,200		3,392,844
First Citizen Bancshares, Inc. (e)	10,000		1,677,780
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Itau Unibanco Holding SA sponsored ADR	197,800		$ 3,328,974
PNC Financial Services Group, Inc.	92,100		6,251,748
Popular, Inc. (a)	123,280		3,512,247
U.S. Bancorp	159,100		5,294,848
Wells Fargo & Co.	416,300		15,811,074
			43,346,224
Consumer Finance - 1.2%
Cash America International, Inc.	44,300		1,932,809
EZCORP, Inc. (non-vtg.) Class A (a)	100,393		1,696,642
SLM Corp.	119,500		2,467,675
			6,097,126
Insurance - 8.5%
ACE Ltd.	64,500		5,749,530
AFLAC, Inc.	63,450		3,454,218
Berkshire Hathaway, Inc. Class B (a)	145,457		15,464,988
Donegal Group, Inc. Class A	90,500		1,324,920
Fairfax Financial Holdings Ltd. (sub. vtg.)	7,650		3,068,884
MetLife, Inc.	107,700		4,199,223
National Western Life Insurance Co. Class A	12,400		2,264,488
Old Republic International Corp.	216,200		2,918,700
ProAssurance Corp.	5,000		244,950
StanCorp Financial Group, Inc.	55,000		2,374,900
Torchmark Corp.	58,350		3,621,785
			44,686,586
Real Estate Investment Trusts - 2.3%
American Tower Corp.	34,200		2,872,458
Boston Properties, Inc.	27,400		2,998,382
CyrusOne, Inc.	69,000		1,655,310
Eurobank Properties Real Estate Investment Co.	312,000		2,580,379
iStar Financial, Inc. (a)	15,000		175,200
Newcastle Investment Corp.	110,000		1,246,300
NorthStar Realty Finance Corp.	15,000		149,550
RAIT Financial Trust	40,000		341,600
			12,019,179
Real Estate Management & Development - 2.5%
Consolidated-Tomoka Land Co.	33,400		1,242,814
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - continued
Kennedy-Wilson Holdings, Inc.	705,800		$ 11,737,454
			12,980,268
TOTAL FINANCIALS			138,124,270
HEALTH CARE - 11.4%
Biotechnology - 0.6%
Elan Corp. PLC sponsored ADR (a)	265,200		3,102,840
Health Care Equipment & Supplies - 0.6%
St. Jude Medical, Inc.	82,400		3,396,528
Health Care Providers & Services - 4.4%
HCA Holdings, Inc.	92,300		3,681,847
Quest Diagnostics, Inc.	65,900		3,712,147
UnitedHealth Group, Inc.	170,000		10,188,100
WellPoint, Inc.	73,501		5,359,693
			22,941,787
Pharmaceuticals - 5.8%
Endo Health Solutions, Inc. (a)	46,000		1,685,440
Jazz Pharmaceuticals PLC (a)	48,700		2,841,645
Johnson & Johnson	98,000		8,352,540
Merck & Co., Inc.	346,900		16,304,298
Pfizer, Inc.	49,200		1,430,244
			30,614,167
TOTAL HEALTH CARE			60,055,322
INDUSTRIALS - 9.5%
Aerospace & Defense - 1.1%
General Dynamics Corp.	58,400		4,319,264
United Technologies Corp.	13,900		1,268,931
			5,588,195
Air Freight & Logistics - 0.9%
FedEx Corp.	50,600		4,756,906
Commercial Services & Supplies - 0.6%
Waste Management, Inc.	78,801		3,229,265
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Construction & Engineering - 1.8%
AECOM Technology Corp. (a)	163,700		$ 4,758,759
URS Corp.	106,200		4,664,304
			9,423,063
Industrial Conglomerates - 3.4%
Danaher Corp.	30,800		1,876,952
General Electric Co.	723,900		16,135,731
			18,012,683
Machinery - 0.8%
Stanley Black & Decker, Inc.	30,917		2,312,901
Terex Corp. (a)	66,100		1,890,460
			4,203,361
Professional Services - 0.3%
Towers Watson & Co.	18,200		1,327,144
Road & Rail - 0.6%
CSX Corp.	138,600		3,408,174
TOTAL INDUSTRIALS			49,948,791
INFORMATION TECHNOLOGY - 5.7%
Communications Equipment - 1.4%
Brocade Communications Systems, Inc. (a)	135,800		790,356
Cisco Systems, Inc.	314,900		6,587,708
			7,378,064
Computers & Peripherals - 0.9%
Hewlett-Packard Co.	234,627		4,833,316
Electronic Equipment & Components - 1.1%
Corning, Inc.	193,398		2,804,271
Jabil Circuit, Inc.	174,548		3,106,954
			5,911,225
Semiconductors & Semiconductor Equipment - 1.8%
Broadcom Corp. Class A	80,500		2,898,000
Freescale Semiconductor Holdings I Ltd. (a)	80,259		1,242,409
Intersil Corp. Class A	232,938		1,807,599
Marvell Technology Group Ltd.	192,164		2,067,685
ON Semiconductor Corp. (a)	196,900		1,547,634
			9,563,327
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 0.5%
Symantec Corp. (a)	97,000		$ 2,357,100
TOTAL INFORMATION TECHNOLOGY			30,043,032
MATERIALS - 4.3%
Chemicals - 3.1%
Air Products & Chemicals, Inc.	48,450		4,213,212
Ashland, Inc.	41,000		3,493,610
Eastman Chemical Co.	64,000		4,265,600
LyondellBasell Industries NV Class A	75,220		4,565,854
			16,538,276
Containers & Packaging - 1.0%
Rock-Tenn Co. Class A	50,370		5,044,052
Metals & Mining - 0.2%
Goldcorp, Inc.	39,100		1,157,340
TOTAL MATERIALS			22,739,668
TELECOMMUNICATION SERVICES - 3.0%
Diversified Telecommunication Services - 2.4%
AT&T, Inc.	217,300		8,140,058
CenturyLink, Inc.	95,214		3,577,190
Frontier Communications Corp. (d)	236,700		984,672
			12,701,920
Wireless Telecommunication Services - 0.6%
NII Holdings, Inc. (a)(d)	380,500		3,310,350
TOTAL TELECOMMUNICATION SERVICES			16,012,270
UTILITIES - 6.9%
Electric Utilities - 3.8%
Edison International	93,900		5,051,820
ITC Holdings Corp.	38,900		3,587,358
NextEra Energy, Inc.	33,510		2,748,825
Northeast Utilities	128,000		5,802,240
NV Energy, Inc.	126,000		2,725,380
			19,915,623
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 1.0%
Atmos Energy Corp.	55,300		$ 2,453,661
Questar Corp.	97,700		2,480,603
			4,934,264
Multi-Utilities - 2.1%
NiSource, Inc.	134,000		4,117,820
PG&E Corp.	32,300		1,564,612
Sempra Energy	66,350		5,497,098
			11,179,530
TOTAL UTILITIES			36,029,417
TOTAL COMMON STOCKS (Cost $469,205,764)		515,395,340
Nonconvertible Preferred Stocks - 0.0%

FINANCIALS - 0.0%
Real Estate Investment Trusts - 0.0%
Eagle Hospitality Properties Trust, Inc. 8.25% (a) (Cost $141,235)	47,000		235
Money Market Funds - 2.4%

Fidelity Cash Central Fund, 0.13% (b)	11,452,835		11,452,835
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	955,550		955,550
TOTAL MONEY MARKET FUNDS (Cost $12,408,385)		12,408,385
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $481,755,384)			527,803,960
NET OTHER ASSETS (LIABILITIES) - (0.5)%			(2,555,779)
NET ASSETS - 100%		$ 525,248,181

Legend

(a) Non-income producing

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

(e) 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 $1,677,780 or 0.3% of net assets.

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
First Citizen Bancshares, Inc.	12/21/12	$ 1,400,000

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
Fidelity Cash Central Fund	$ 4,130
Fidelity Securities Lending Cash Central Fund	15,346
Total	$ 19,476

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 40,485,549	$ 40,485,549	$ -	$ -
Consumer Staples	41,260,503	41,260,503	-	-
Energy	80,696,518	80,696,518	-	-
Financials	138,124,505	136,446,725	1,677,780	-
Health Care	60,055,322	60,055,322	-	-
Industrials	49,948,791	49,948,791	-	-
Information Technology	30,043,032	30,043,032	-	-
Materials	22,739,668	22,739,668	-	-
Telecommunication Services	16,012,270	16,012,270	-	-
Utilities	36,029,417	36,029,417	-	-
Money Market Funds	12,408,385	12,408,385	-	-
Total Investments in Securities:	$ 527,803,960	$ 526,126,180	$ 1,677,780	$ -

Income Tax Information

At April 30, 2013, the cost of investment securities for income tax purposes was $486,199,292. Net unrealized appreciation aggregated $41,604,668, of which $75,854,337 related to appreciated investment securities and $34,249,669 related to depreciated investment securities.

Investment Valuation

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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity Advisor® Stock Selector Large Cap Value Fund

Class A
Class T
Class B
Class C
Institutional Class

April 30, 2013

Class A, Class T, Class B, Class C
and Institutional Class are classes of
Fidelity® Stock Selector Large Cap Value Fund

1.847928.106

ALCV-QTLY-0613

Investments April 30, 2013 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.1%
	Shares		Value
CONSUMER DISCRETIONARY - 7.7%
Auto Components - 0.9%
Delphi Automotive PLC	103,200		$ 4,768,872
Household Durables - 1.2%
Jarden Corp. (a)	52,392		2,358,164
Whirlpool Corp.	34,500		3,942,660
			6,300,824
Internet & Catalog Retail - 0.5%
Liberty Media Corp. Interactive Series A (a)	132,300		2,816,667
Media - 2.7%
Comcast Corp. Class A	154,575		6,383,948
News Corp. Class A	188,400		5,834,748
Omnicom Group, Inc.	35,300		2,109,881
			14,328,577
Multiline Retail - 1.8%
Macy's, Inc.	77,450		3,454,270
Target Corp.	81,434		5,745,983
			9,200,253
Specialty Retail - 0.6%
Staples, Inc.	231,900		3,070,356
TOTAL CONSUMER DISCRETIONARY			40,485,549
CONSUMER STAPLES - 7.9%
Beverages - 1.4%
Coca-Cola Enterprises, Inc.	52,000		1,904,760
Dr. Pepper Snapple Group, Inc.	49,250		2,404,878
Molson Coors Brewing Co. Class B	53,900		2,781,240
			7,090,878
Food & Staples Retailing - 1.4%
Wal-Mart Stores, Inc.	28,500		2,215,020
Walgreen Co.	107,440		5,319,354
			7,534,374
Food Products - 2.6%
Archer Daniels Midland Co.	92,500		3,139,450
Mondelez International, Inc.	228,990		7,201,736
The J.M. Smucker Co.	30,120		3,109,288
			13,450,474
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Household Products - 2.1%
Procter & Gamble Co.	107,380		$ 8,243,563
Reckitt Benckiser Group PLC	35,400		2,582,264
			10,825,827
Tobacco - 0.4%
Lorillard, Inc.	55,000		2,358,950
TOTAL CONSUMER STAPLES			41,260,503
ENERGY - 15.4%
Energy Equipment & Services - 1.6%
Cameron International Corp. (a)	60,200		3,705,310
National Oilwell Varco, Inc.	70,400		4,591,488
			8,296,798
Oil, Gas & Consumable Fuels - 13.8%
Anadarko Petroleum Corp.	111,220		9,427,007
Canadian Natural Resources Ltd.	255,900		7,505,926
Exxon Mobil Corp.	154,600		13,757,854
Marathon Petroleum Corp.	63,800		4,999,368
Murphy Oil Corp.	54,500		3,383,905
Noble Energy, Inc.	39,680		4,495,347
Occidental Petroleum Corp.	143,578		12,815,772
Phillips 66	33,100		2,017,445
Suncor Energy, Inc.	301,700		9,406,320
The Williams Companies, Inc.	120,398		4,590,776
			72,399,720
TOTAL ENERGY			80,696,518
FINANCIALS - 26.3%
Capital Markets - 3.6%
Bank of New York Mellon Corp.	198,000		5,587,560
Invesco Ltd.	165,800		5,262,492
Morgan Stanley	153,700		3,404,455
State Street Corp.	62,000		3,625,140
SWS Group, Inc. (a)	196,000		1,115,240
			18,994,887
Commercial Banks - 8.2%
CIT Group, Inc. (a)	95,900		4,076,709
First Citizen Bancshares, Inc.	18,200		3,392,844
First Citizen Bancshares, Inc. (e)	10,000		1,677,780
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Commercial Banks - continued
Itau Unibanco Holding SA sponsored ADR	197,800		$ 3,328,974
PNC Financial Services Group, Inc.	92,100		6,251,748
Popular, Inc. (a)	123,280		3,512,247
U.S. Bancorp	159,100		5,294,848
Wells Fargo & Co.	416,300		15,811,074
			43,346,224
Consumer Finance - 1.2%
Cash America International, Inc.	44,300		1,932,809
EZCORP, Inc. (non-vtg.) Class A (a)	100,393		1,696,642
SLM Corp.	119,500		2,467,675
			6,097,126
Insurance - 8.5%
ACE Ltd.	64,500		5,749,530
AFLAC, Inc.	63,450		3,454,218
Berkshire Hathaway, Inc. Class B (a)	145,457		15,464,988
Donegal Group, Inc. Class A	90,500		1,324,920
Fairfax Financial Holdings Ltd. (sub. vtg.)	7,650		3,068,884
MetLife, Inc.	107,700		4,199,223
National Western Life Insurance Co. Class A	12,400		2,264,488
Old Republic International Corp.	216,200		2,918,700
ProAssurance Corp.	5,000		244,950
StanCorp Financial Group, Inc.	55,000		2,374,900
Torchmark Corp.	58,350		3,621,785
			44,686,586
Real Estate Investment Trusts - 2.3%
American Tower Corp.	34,200		2,872,458
Boston Properties, Inc.	27,400		2,998,382
CyrusOne, Inc.	69,000		1,655,310
Eurobank Properties Real Estate Investment Co.	312,000		2,580,379
iStar Financial, Inc. (a)	15,000		175,200
Newcastle Investment Corp.	110,000		1,246,300
NorthStar Realty Finance Corp.	15,000		149,550
RAIT Financial Trust	40,000		341,600
			12,019,179
Real Estate Management & Development - 2.5%
Consolidated-Tomoka Land Co.	33,400		1,242,814
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Real Estate Management & Development - continued
Kennedy-Wilson Holdings, Inc.	705,800		$ 11,737,454
			12,980,268
TOTAL FINANCIALS			138,124,270
HEALTH CARE - 11.4%
Biotechnology - 0.6%
Elan Corp. PLC sponsored ADR (a)	265,200		3,102,840
Health Care Equipment & Supplies - 0.6%
St. Jude Medical, Inc.	82,400		3,396,528
Health Care Providers & Services - 4.4%
HCA Holdings, Inc.	92,300		3,681,847
Quest Diagnostics, Inc.	65,900		3,712,147
UnitedHealth Group, Inc.	170,000		10,188,100
WellPoint, Inc.	73,501		5,359,693
			22,941,787
Pharmaceuticals - 5.8%
Endo Health Solutions, Inc. (a)	46,000		1,685,440
Jazz Pharmaceuticals PLC (a)	48,700		2,841,645
Johnson & Johnson	98,000		8,352,540
Merck & Co., Inc.	346,900		16,304,298
Pfizer, Inc.	49,200		1,430,244
			30,614,167
TOTAL HEALTH CARE			60,055,322
INDUSTRIALS - 9.5%
Aerospace & Defense - 1.1%
General Dynamics Corp.	58,400		4,319,264
United Technologies Corp.	13,900		1,268,931
			5,588,195
Air Freight & Logistics - 0.9%
FedEx Corp.	50,600		4,756,906
Commercial Services & Supplies - 0.6%
Waste Management, Inc.	78,801		3,229,265
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Construction & Engineering - 1.8%
AECOM Technology Corp. (a)	163,700		$ 4,758,759
URS Corp.	106,200		4,664,304
			9,423,063
Industrial Conglomerates - 3.4%
Danaher Corp.	30,800		1,876,952
General Electric Co.	723,900		16,135,731
			18,012,683
Machinery - 0.8%
Stanley Black & Decker, Inc.	30,917		2,312,901
Terex Corp. (a)	66,100		1,890,460
			4,203,361
Professional Services - 0.3%
Towers Watson & Co.	18,200		1,327,144
Road & Rail - 0.6%
CSX Corp.	138,600		3,408,174
TOTAL INDUSTRIALS			49,948,791
INFORMATION TECHNOLOGY - 5.7%
Communications Equipment - 1.4%
Brocade Communications Systems, Inc. (a)	135,800		790,356
Cisco Systems, Inc.	314,900		6,587,708
			7,378,064
Computers & Peripherals - 0.9%
Hewlett-Packard Co.	234,627		4,833,316
Electronic Equipment & Components - 1.1%
Corning, Inc.	193,398		2,804,271
Jabil Circuit, Inc.	174,548		3,106,954
			5,911,225
Semiconductors & Semiconductor Equipment - 1.8%
Broadcom Corp. Class A	80,500		2,898,000
Freescale Semiconductor Holdings I Ltd. (a)	80,259		1,242,409
Intersil Corp. Class A	232,938		1,807,599
Marvell Technology Group Ltd.	192,164		2,067,685
ON Semiconductor Corp. (a)	196,900		1,547,634
			9,563,327
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 0.5%
Symantec Corp. (a)	97,000		$ 2,357,100
TOTAL INFORMATION TECHNOLOGY			30,043,032
MATERIALS - 4.3%
Chemicals - 3.1%
Air Products & Chemicals, Inc.	48,450		4,213,212
Ashland, Inc.	41,000		3,493,610
Eastman Chemical Co.	64,000		4,265,600
LyondellBasell Industries NV Class A	75,220		4,565,854
			16,538,276
Containers & Packaging - 1.0%
Rock-Tenn Co. Class A	50,370		5,044,052
Metals & Mining - 0.2%
Goldcorp, Inc.	39,100		1,157,340
TOTAL MATERIALS			22,739,668
TELECOMMUNICATION SERVICES - 3.0%
Diversified Telecommunication Services - 2.4%
AT&T, Inc.	217,300		8,140,058
CenturyLink, Inc.	95,214		3,577,190
Frontier Communications Corp. (d)	236,700		984,672
			12,701,920
Wireless Telecommunication Services - 0.6%
NII Holdings, Inc. (a)(d)	380,500		3,310,350
TOTAL TELECOMMUNICATION SERVICES			16,012,270
UTILITIES - 6.9%
Electric Utilities - 3.8%
Edison International	93,900		5,051,820
ITC Holdings Corp.	38,900		3,587,358
NextEra Energy, Inc.	33,510		2,748,825
Northeast Utilities	128,000		5,802,240
NV Energy, Inc.	126,000		2,725,380
			19,915,623
Common Stocks - continued
	Shares		Value
UTILITIES - continued
Gas Utilities - 1.0%
Atmos Energy Corp.	55,300		$ 2,453,661
Questar Corp.	97,700		2,480,603
			4,934,264
Multi-Utilities - 2.1%
NiSource, Inc.	134,000		4,117,820
PG&E Corp.	32,300		1,564,612
Sempra Energy	66,350		5,497,098
			11,179,530
TOTAL UTILITIES			36,029,417
TOTAL COMMON STOCKS (Cost $469,205,764)		515,395,340
Nonconvertible Preferred Stocks - 0.0%

FINANCIALS - 0.0%
Real Estate Investment Trusts - 0.0%
Eagle Hospitality Properties Trust, Inc. 8.25% (a) (Cost $141,235)	47,000		235
Money Market Funds - 2.4%

Fidelity Cash Central Fund, 0.13% (b)	11,452,835		11,452,835
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	955,550		955,550
TOTAL MONEY MARKET FUNDS (Cost $12,408,385)		12,408,385
TOTAL INVESTMENT PORTFOLIO - 100.5% (Cost $481,755,384)			527,803,960
NET OTHER ASSETS (LIABILITIES) - (0.5)%			(2,555,779)
NET ASSETS - 100%		$ 525,248,181

Legend

(a) Non-income producing

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

Additional information on each restricted holding is as follows:

Security	Acquisition Date	Acquisition Cost
First Citizen Bancshares, Inc.	12/21/12	$ 1,400,000

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
Fidelity Cash Central Fund	$ 4,130
Fidelity Securities Lending Cash Central Fund	15,346
Total	$ 19,476

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 40,485,549	$ 40,485,549	$ -	$ -
Consumer Staples	41,260,503	41,260,503	-	-
Energy	80,696,518	80,696,518	-	-
Financials	138,124,505	136,446,725	1,677,780	-
Health Care	60,055,322	60,055,322	-	-
Industrials	49,948,791	49,948,791	-	-
Information Technology	30,043,032	30,043,032	-	-
Materials	22,739,668	22,739,668	-	-
Telecommunication Services	16,012,270	16,012,270	-	-
Utilities	36,029,417	36,029,417	-	-
Money Market Funds	12,408,385	12,408,385	-	-
Total Investments in Securities:	$ 527,803,960	$ 526,126,180	$ 1,677,780	$ -

Income Tax Information

Investment Valuation

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.

Quarterly Report

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 Devonshire 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 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 Devonshire Trust

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	June 28, 2013

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:	June 28, 2013
By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer

Date:	June 28, 2013