NPORT-EX 2 QTLY_319_20230228.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Equity Dividend Income Fund
February 28, 2023
EII-NPRT1-0423
1.797940.119
Common Stocks - 97.0%
 
  
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 7.9%
 
  
  
Diversified Telecommunication Services - 3.7%
  
  
  
Deutsche Telekom AG
 
2,858,000
64,142
Verizon Communications, Inc.
 
3,982,600
154,565
 
  
  
218,707
Entertainment - 1.1%
  
  
  
Activision Blizzard, Inc.
 
831,800
63,425
Media - 3.1%
  
  
  
Comcast Corp. Class A
 
3,993,300
148,431
Omnicom Group, Inc.
 
345,100
31,256
 
  
  
179,687
TOTAL COMMUNICATION SERVICES
  
  
461,819
CONSUMER DISCRETIONARY - 4.1%
 
  
  
Household Durables - 0.4%
  
  
  
Whirlpool Corp. (a)
  
187,100
25,816
Internet & Direct Marketing Retail - 1.2%
  
  
  
eBay, Inc.
 
1,537,800
70,585
Leisure Products - 0.2%
  
  
  
Hasbro, Inc.
 
231,900
12,757
Specialty Retail - 1.8%
  
  
  
Best Buy Co., Inc.
 
221,100
18,376
Lowe's Companies, Inc.
 
180,000
37,035
Williams-Sonoma, Inc. (a)
  
403,600
50,418
 
  
  
105,829
Textiles, Apparel & Luxury Goods - 0.5%
  
  
  
Tapestry, Inc.
 
636,800
27,707
TOTAL CONSUMER DISCRETIONARY
  
  
242,694
CONSUMER STAPLES - 9.8%
 
  
  
Beverages - 3.8%
  
  
  
Anheuser-Busch InBev SA NV ADR (a)
  
1,177,300
71,462
Coca-Cola European Partners PLC
 
975,600
53,658
Keurig Dr. Pepper, Inc.
 
667,200
23,052
The Coca-Cola Co.
 
1,233,100
73,382
 
  
  
221,554
Food & Staples Retailing - 0.5%
  
  
  
Albertsons Companies, Inc.
 
1,427,600
28,381
Household Products - 2.1%
  
  
  
Energizer Holdings, Inc.
 
501,300
18,162
Procter & Gamble Co.
 
119,500
16,438
Reckitt Benckiser Group PLC
 
650,700
45,149
Reynolds Consumer Products, Inc. (a)
  
1,613,500
44,274
 
  
  
124,023
Personal Products - 2.4%
  
  
  
Unilever PLC sponsored ADR (a)
  
2,868,800
143,239
Tobacco - 1.0%
  
  
  
Philip Morris International, Inc.
 
615,200
59,859
TOTAL CONSUMER STAPLES
  
  
577,056
ENERGY - 7.0%
 
  
  
Oil, Gas & Consumable Fuels - 7.0%
  
  
  
Enterprise Products Partners LP
 
3,686,900
94,127
Exxon Mobil Corp.
 
1,441,500
158,435
Parkland Corp.
 
1,530,100
33,461
Shell PLC ADR
 
1,309,400
79,572
TotalEnergies SE
 
753,400
46,488
 
  
  
412,083
FINANCIALS - 18.7%
 
  
  
Banks - 12.1%
  
  
  
Citigroup, Inc.
 
1,171,800
59,399
Huntington Bancshares, Inc.
 
4,429,900
67,866
JPMorgan Chase & Co.
 
629,000
90,167
M&T Bank Corp.
 
661,100
102,662
PNC Financial Services Group, Inc.
 
619,500
97,831
U.S. Bancorp
 
2,487,100
118,709
Wells Fargo & Co.
 
3,731,708
174,537
 
  
  
711,171
Capital Markets - 2.9%
  
  
  
Bank of New York Mellon Corp.
 
908,100
46,204
CME Group, Inc.
 
220,200
40,816
LPL Financial
 
146,000
36,436
State Street Corp.
 
544,700
48,304
 
  
  
171,760
Insurance - 3.7%
  
  
  
Assurant, Inc.
 
144,600
18,421
AXA SA
 
2,158,900
68,030
Chubb Ltd.
 
265,779
56,085
First American Financial Corp.
 
390,500
22,173
The Travelers Companies, Inc.
 
278,000
51,463
 
  
  
216,172
TOTAL FINANCIALS
  
  
1,099,103
HEALTH CARE - 15.1%
 
  
  
Health Care Equipment & Supplies - 0.6%
  
  
  
Smith & Nephew PLC sponsored ADR (a)
  
1,226,000
35,027
Health Care Providers & Services - 3.8%
  
  
  
AmerisourceBergen Corp.
 
427,400
66,486
Cigna Group
 
206,100
60,202
Elevance Health, Inc.
 
94,300
44,290
UnitedHealth Group, Inc.
 
105,100
50,021
 
  
  
220,999
Pharmaceuticals - 10.7%
  
  
  
Bristol-Myers Squibb Co.
 
1,498,700
103,350
Johnson & Johnson
 
1,137,666
174,359
Merck & Co., Inc.
 
867,200
92,131
Organon & Co. (a)
  
1,116,470
27,342
Roche Holding AG (participation certificate)
 
151,420
43,660
Royalty Pharma PLC
 
1,066,000
38,216
Sanofi SA sponsored ADR
 
3,250,100
152,267
 
  
  
631,325
TOTAL HEALTH CARE
  
  
887,351
INDUSTRIALS - 10.0%
 
  
  
Aerospace & Defense - 0.9%
  
  
  
General Dynamics Corp.
 
235,700
53,718
Air Freight & Logistics - 0.4%
  
  
  
United Parcel Service, Inc. Class B
 
127,900
23,340
Building Products - 1.2%
  
  
  
Carlisle Companies, Inc.
 
122,000
31,503
Owens Corning
 
419,400
41,013
 
  
  
72,516
Electrical Equipment - 1.8%
  
  
  
Regal Rexnord Corp.
 
661,000
104,200
Industrial Conglomerates - 1.0%
  
  
  
Hitachi Ltd.
 
1,153,500
58,372
Machinery - 2.7%
  
  
  
Allison Transmission Holdings, Inc.
 
1,612,700
76,603
Parker Hannifin Corp.
 
235,800
82,966
 
  
  
159,569
Professional Services - 1.5%
  
  
  
Manpower, Inc.
 
266,000
22,578
Robert Half International, Inc.
 
273,300
22,033
Science Applications International Corp.
 
394,000
42,016
 
  
  
86,627
Trading Companies & Distributors - 0.5%
  
  
  
Brenntag SE
 
407,500
30,774
TOTAL INDUSTRIALS
  
  
589,116
INFORMATION TECHNOLOGY - 13.5%
 
  
  
Communications Equipment - 2.2%
  
  
  
Cisco Systems, Inc.
 
2,647,500
128,192
IT Services - 6.6%
  
  
  
Amdocs Ltd.
 
785,328
71,944
Capgemini SA
 
308,200
57,976
Cognizant Technology Solutions Corp. Class A
 
444,100
27,814
Fidelity National Information Services, Inc.
 
809,700
51,311
Genpact Ltd.
 
379,800
18,128
Global Payments, Inc.
 
644,000
72,257
SS&C Technologies Holdings, Inc.
 
696,900
40,908
Visa, Inc. Class A
 
222,000
48,827
 
  
  
389,165
Semiconductors & Semiconductor Equipment - 2.9%
  
  
  
Microchip Technology, Inc.
 
1,267,300
102,689
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
799,000
69,569
 
  
  
172,258
Software - 1.8%
  
  
  
Microsoft Corp.
 
286,300
71,409
Open Text Corp. (a)
  
975,400
33,576
 
  
  
104,985
TOTAL INFORMATION TECHNOLOGY
  
  
794,600
MATERIALS - 2.5%
 
  
  
Chemicals - 2.1%
  
  
  
Celanese Corp. Class A
 
423,900
49,270
CF Industries Holdings, Inc.
 
586,800
50,400
Olin Corp.
 
389,400
22,488
 
  
  
122,158
Containers & Packaging - 0.4%
  
  
  
Berry Global Group, Inc.
 
376,900
23,405
TOTAL MATERIALS
  
  
145,563
REAL ESTATE - 2.9%
 
  
  
Equity Real Estate Investment Trusts (REITs) - 2.9%
  
  
  
Alexandria Real Estate Equities, Inc.
 
237,700
35,603
American Tower Corp.
 
142,300
28,177
Corporate Office Properties Trust (SBI)
 
1,513,700
38,493
Essex Property Trust, Inc.
 
109,400
24,950
Gaming & Leisure Properties
 
284,100
15,307
Public Storage
 
101,800
30,433
 
  
  
172,963
UTILITIES - 5.5%
 
  
  
Electric Utilities - 3.5%
  
  
  
Duke Energy Corp.
 
769,700
72,552
Edison International
 
1,020,694
67,580
Exelon Corp.
 
481,600
19,452
FirstEnergy Corp.
 
1,109,800
43,881
 
  
  
203,465
Independent Power and Renewable Electricity Producers - 0.7%
  
  
  
Vistra Corp.
 
1,808,100
39,760
Multi-Utilities - 1.3%
  
  
  
Dominion Energy, Inc.
 
638,500
35,513
Sempra Energy
 
287,600
43,128
 
  
  
78,641
TOTAL UTILITIES
  
  
321,866
 
TOTAL COMMON STOCKS
 (Cost $5,056,580)
  
  
  
5,704,214
 
  
  
  
Money Market Funds - 6.3%
 
  
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 4.63% (b)
  
173,200,636
173,235
Fidelity Securities Lending Cash Central Fund 4.63% (b)(c)
  
198,474,104
198,494
 
TOTAL MONEY MARKET FUNDS
 (Cost $371,729)
  
  
371,729
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 103.3%
 (Cost $5,428,309)
 
  
 
6,075,943
NET OTHER ASSETS (LIABILITIES) - (3.3)%  
(194,051)
NET ASSETS - 100.0%
5,881,892
 
  
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
Legend
 
(a)
Security or a portion of the security is on loan at period end.
 
(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.
 
(c)
Investment made with cash collateral received from securities on loan.
 
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate (Amounts in thousands)
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 4.63%
189,261
226,336
242,362
1,847
-
-
173,235
0.4%
Fidelity Securities Lending Cash Central Fund 4.63%
181,944
239,505
222,955
91
-
-
198,494
0.6%
Total
371,205
465,841
465,317
1,938
-
-
371,729
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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.