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 811-649

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

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

Scott C. Goebel, Secretary

82 Devonshire St.

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

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

Date of fiscal year end:

July 31

 

 

Date of reporting period:

April 30, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity® Low-Priced Stock Fund
Low-Priced Stock
Class K

April 30, 2010 

1.800342.106

LPS-QTLY-0610

Investments April 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 89.3%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 24.6%

Auto Components - 1.7%

ASTI Corp. (e)

1,683,000

$ 5,375

Drew Industries, Inc. (a)

690,000

17,699

FCC Co. Ltd.

500,000

10,391

Federal Screw Works (a)(e)

150,000

488

Halla Climate Control Co.

100,000

1,342

Hi-Lex Corp.

1,125,000

14,097

INZI Controls Co. Ltd. (e)

1,516,000

4,477

Johnson Controls, Inc.

7,250,000

243,528

Motonic Corp. (e)

2,650,000

21,341

Murakami Corp. (e)

800,000

10,280

Musashi Seimitsu Industry Co. Ltd.

925,000

23,103

Nippon Seiki Co. Ltd.

2,300,000

25,368

Nissin Kogyo Co. Ltd.

1,075,000

17,590

Nittan Valve Co. Ltd.

360,000

1,269

Piolax, Inc. (e)

1,000,000

21,133

Samsung Climate Control Co. Ltd. (e)

460,050

3,170

Semperit AG Holding (d)

855,000

35,476

Sewon Precision Industries Co. Ltd.

49,860

3,642

Shoei Co. Ltd.

300,000

3,146

SJM Co. Ltd. (e)

1,500,000

7,848

Strattec Security Corp. (a)(e)

342,788

9,262

Wescast Industries, Inc. Class A (sub. vtg.) (a)

60,000

399

Yachiyo Industry Co. Ltd.

600,000

5,806

Yutaka Giken Co. Ltd. (e)

1,300,000

35,846

 

522,076

Distributors - 0.3%

Doshisha Co. Ltd.

400,000

10,263

Educational Development Corp. (e)

386,892

2,406

Goodfellow, Inc. (e)

857,000

9,825

SPK Corp.

125,000

1,803

Strongco Income Fund (a)(e)

809,962

2,822

Uni-Select, Inc. (e)

1,971,500

53,798

 

80,917

Diversified Consumer Services - 1.1%

Career Education Corp. (a)(e)

5,250,000

153,668

Clip Corp. (e)

328,000

2,462

Corinthian Colleges, Inc. (a)(d)

90,000

1,406

Jackson Hewitt Tax Service, Inc. (a)(d)(e)

2,170,050

3,667

Kyoshin Co. Ltd.

130,000

217

Matthews International Corp. Class A

51,200

1,792

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Diversified Consumer Services - continued

Meiko Network Japan Co. Ltd.

730,000

$ 5,114

Noah Education Holdings Ltd. ADR (a)

329,300

1,409

Regis Corp.

2,500,000

47,800

Shingakukai Co. Ltd.

200,000

703

Shuei Yobiko Co. Ltd.

125,000

818

Steiner Leisure Ltd. (a)(e)

1,650,000

77,336

Step Co. Ltd. (e)

837,000

4,349

Up, Inc. (e)

780,000

4,210

Weight Watchers International, Inc.

875,036

23,250

YBM Sisa.com, Inc.

514,708

3,849

 

332,050

Hotels, Restaurants & Leisure - 3.2%

Aeon Fantasy Co. Ltd.

500,000

6,494

Ambassadors Group, Inc.

105,232

1,278

ARK Restaurants Corp. (e)

348,804

4,901

Benihana, Inc. (a)(e)

649,955

4,478

Benihana, Inc. Class A (sub. vtg.) (a)

551,386

3,755

Brinker International, Inc. (e)

10,247,000

189,774

CEC Entertainment, Inc. (a)(e)

2,250,000

87,863

Darden Restaurants, Inc.

2,600,000

116,350

Flanigan's Enterprises, Inc. (a)

50,357

337

Flight Centre Ltd.

800,000

14,562

Holidaybreak PLC

210,418

866

Intralot SA

750,000

3,239

Jack in the Box, Inc. (a)(e)

6,569,000

154,503

McCormick & Schmick's Seafood Restaurants (a)(e)

1,088,888

10,791

Monarch Casino & Resort, Inc. (a)(e)

1,304,962

15,164

Papa John's International, Inc. (a)(e)

2,749,964

75,349

Plenus Co. Ltd. (e)

2,950,000

40,075

Red Robin Gourmet Burgers, Inc. (a)(e)

1,500,003

36,615

Royal Caribbean Cruises Ltd. (a)(d)

1,400,000

50,176

Ruby Tuesday, Inc. (a)(e)

6,372,030

71,303

Ruth's Hospitality Group, Inc. (a)(e)

2,347,228

12,745

Sonic Corp. (a)(e)

6,085,000

71,255

Sportscene Group, Inc. Class A (e)

400,000

4,842

St. Marc Holdings Co. Ltd.

480,000

18,473

Tabcorp Holdings Ltd.

800,000

5,051

 

1,000,239

Household Durables - 3.2%

Abbey PLC (a)(e)

3,400,000

21,456

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Household Durables - continued

Barratt Developments PLC (a)(e)

80,000,199

$ 151,378

Bellway PLC (e)

7,525,000

86,377

Blyth, Inc. (e)

888,900

51,236

Chromcraft Revington, Inc. (a)

217,146

608

Craftmade International, Inc. (a)(e)

570,026

3,135

D.R. Horton, Inc. (e)

24,300,000

356,967

Decorator Industries, Inc. (a)(e)

243,515

468

Dixie Group, Inc. (a)

50,000

245

Dorel Industries, Inc. Class B (sub. vtg.)

2,050,000

72,563

Emak SpA

279,250

1,543

Ethan Allen Interiors, Inc.

421,515

8,515

First Juken Co. Ltd.

409,600

3,271

Helen of Troy Ltd. (a)(e)

2,771,371

74,855

Henry Boot PLC (e)

10,774,000

15,850

HTL International Holdings Ltd. (e)

29,655,500

17,391

Intelligent Digital Integrated Security Co., Ltd. (e)

1,001,000

14,087

M/I Homes, Inc. (a)(e)

1,803,400

28,133

Maruzen Co., Ltd. (e)

1,272,000

7,313

P&F Industries, Inc. Class A (a)(e)

361,038

848

Pulte Group, Inc. (a)

100,000

1,309

Sanei Architecture Planning Co. Ltd.

49,200

1,440

Sjaelso Gruppen AS (a)

10,000

20

Stanley Furniture Co., Inc. (a)(e)

975,354

9,627

Steinhoff International Holdings Ltd.

1,000,000

2,748

Tempur-Pedic International, Inc. (a)

2,000,000

67,400

Token Corp.

375,000

11,035

 

1,009,818

Internet & Catalog Retail - 0.3%

Belluna Co. Ltd. (e)

5,000,000

29,330

PetMed Express, Inc. (d)(e)

2,425,100

53,692

 

83,022

Leisure Equipment & Products - 0.3%

Accell Group NV

69,500

3,143

Arctic Cat, Inc. (a)(e)

1,220,380

18,001

Brunswick Corp.

250,000

5,225

Giant Manufacturing Co. Ltd.

3,800,000

11,487

JAKKS Pacific, Inc. (a)(d)(e)

2,793,139

42,707

Marine Products Corp. (a)

1,425,049

10,118

Miroku Corp.

128,000

237

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Leisure Equipment & Products - continued

RC2 Corp. (a)

486,640

$ 8,940

Trigano SA

135,000

3,215

 

103,073

Media - 1.5%

Ascent Media Corp. (a)

645,977

19,069

Astral Media, Inc. Class A (non-vtg.)

2,905,000

100,912

Carrere Group (a)

55,000

0

Chime Communications PLC (e)

4,266,829

13,008

Harte-Hanks, Inc.

430,100

6,193

Intage, Inc. (e)

1,040,000

19,930

New Frontier Media, Inc. (a)(e)

1,949,400

3,840

Omnicom Group, Inc.

6,250,000

266,625

Proto Corp.

65,000

2,325

Saga Communications, Inc. Class A (a)

375,077

10,333

STW Group Ltd.

3,000,000

2,426

Tow Co. Ltd. (e)

1,223,000

7,122

TVA Group, Inc. Class B (non-vtg.)

2,000,400

28,543

 

480,326

Multiline Retail - 2.0%

Dollar Tree, Inc. (a)

1,500,000

91,080

Don Quijote Co. Ltd. (d)

3,100,000

83,498

Family Dollar Stores, Inc.

300,000

11,868

Harvey Norman Holdings Ltd. (d)

17,500,000

54,622

Izumi Co. Ltd.

30,000

430

Next PLC (e)

10,500,000

366,897

Tuesday Morning Corp. (a)(e)

3,615,016

20,425

Zakkaya Bulldog Co. Ltd.

300,000

770

 

629,590

Specialty Retail - 7.5%

Abercrombie & Fitch Co. Class A (e)

8,930,000

390,509

Aeropostale, Inc. (a)

2,035,000

59,096

Asbury Automotive Group, Inc. (a)

15,000

233

AT-Group Co. Ltd.

59,000

693

AutoZone, Inc. (a)

900,000

166,509

bebe Stores, Inc.

1,000,000

8,240

Bed Bath & Beyond, Inc. (a)

6,600,000

303,336

BMTC Group, Inc. Class A (sub. vtg.)

5,969,600

104,565

Brown Shoe Co., Inc.

1,565,012

29,422

Camaieu SA

7,000

1,604

Christopher & Banks Corp.

150,070

1,469

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Esprit Holdings Ltd.

62,294

$ 446

Friedmans, Inc. Class A (a)

1,500,000

0*

GameStop Corp. Class A (a)(d)

3,100,000

75,361

Glentel, Inc. (e)

933,400

14,706

Group 1 Automotive, Inc. (a)(d)(e)

1,440,000

44,712

Gulliver International Co. Ltd. (d)(e)

1,000,000

36,942

Honeys Co. Ltd. (d)(e)

1,850,000

18,770

Hot Topic, Inc.

1,650,000

12,606

I A Group Corp.

105,000

626

Jos. A. Bank Clothiers, Inc. (a)(d)(e)

1,825,000

111,070

Jumbo SA (e)

7,500,000

55,127

K'S Denki Corp.

650,000

17,307

Kyoto Kimono Yuzen Co. Ltd.

900,000

8,384

Le Chateau, Inc. Class A (sub. vtg.)

1,997,166

28,576

Leon's Furniture Ltd.

875,000

10,634

Lithia Motors, Inc. Class A (sub. vtg.)

2,051,700

16,373

Macintosh Retail Group NV

125,000

2,786

MarineMax, Inc. (a)(e)

1,295,473

14,445

Mr. Bricolage SA

394,078

7,648

Nafco Co. Ltd.

900,000

16,528

Nishimatsuya Chain Co. Ltd. (e)

6,575,600

74,066

Oriental Watch Holdings Ltd. (e)

21,586,400

5,396

OSIM International Ltd. warrants 6/23/11 (a)

40,043,503

14,059

Pal Co. Ltd. (e)

800,000

27,254

Point, Inc.

25,000

1,621

Reitmans (Canada) Ltd. Class A (non-vtg.)

135,000

2,500

Right On Co. Ltd.

533,400

4,299

RONA, Inc. (a)

450,000

7,683

Ross Stores, Inc. (e)

6,250,000

350,000

SAZABY, Inc.

584,700

10,520

ScS Upholstery PLC (a)

2,400,000

0*

Second Chance Properties Ltd. (a)

9,000,000

2,122

Second Chance Properties Ltd. warrants 9/27/13 (a)

3,062,500

55

Sonic Automotive, Inc. Class A (sub. vtg.) (a)(d)

2,822,927

30,149

Super Cheap Auto Group Ltd.

103,899

534

The Buckle, Inc. (d)

750,000

27,135

The Men's Wearhouse, Inc.

1,500,000

35,445

United Arrows Ltd.

210,000

2,533

USS Co. Ltd. (e)

2,000,000

136,910

West Marine, Inc. (a)

230,000

2,753

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Williams-Sonoma, Inc.

2,000,045

$ 57,601

Workman Co. Ltd. (e)

1,321,300

19,975

 

2,371,333

Textiles, Apparel & Luxury Goods - 3.5%

Adolfo Dominguez SA

324,202

4,886

Arts Optical International Holdings Ltd.

17,000,000

7,678

Bijou Brigitte Modische Accessoires AG

45,000

7,753

Cherokee, Inc. (d)

219,994

4,497

Columbia Sportswear Co. (d)

400,025

22,217

Delta Apparel, Inc. (a)(e)

859,700

14,434

Folli Follie SA

1,615,293

37,167

Fossil, Inc. (a)(e)

6,600,000

256,740

Gildan Activewear, Inc. (a)(e)

11,500,000

333,615

Hampshire Group Ltd. (a)(e)

920,000

5,106

Handsome Co. Ltd. (e)

2,436,150

32,117

JLM Couture, Inc. (a)(e)

197,100

296

K-Swiss, Inc. Class A (a)

2,709,606

33,707

Kenneth Cole Productions, Inc. Class A (sub. vtg.) (a)

100,000

1,246

Liz Claiborne, Inc. (a)

1,350,000

11,799

Marimekko Oyj

110,000

1,701

Movado Group, Inc. (a)(d)(e)

1,776,500

22,046

Quiksilver, Inc. (a)

2,000,000

10,660

Rocky Brands, Inc. (a)(e)

559,986

5,505

Sanei-International Co. Ltd. (e)

1,135,000

16,615

Skechers U.S.A., Inc. Class A (sub. vtg.) (a)

1,899,969

72,864

Sun Hing Vision Group Holdings Ltd. (e)

23,938,000

10,477

Ted Baker PLC

250,000

2,001

Texwinca Holdings Ltd.

39,000,000

41,661

Timberland Co. Class A (a)

3,504,962

75,357

Tungtex Holdings Co. Ltd. (e)

19,220,000

4,462

Van de Velde (d)

75,000

3,325

Victory City International Holdings Ltd.

8,000,000

1,847

Volcom, Inc. (a)

500,000

11,920

Youngone Corp.

350,000

2,968

Youngone Holdings Co. Ltd. (e)

850,000

25,055

Yue Yuen Industrial (Holdings) Ltd.

5,600,000

19,510

 

1,101,232

TOTAL CONSUMER DISCRETIONARY

7,713,676

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - 8.0%

Beverages - 1.1%

Baron de Ley SA (a)

219,063

$ 10,570

C&C Group PLC

1,200,000

5,742

Constellation Brands, Inc. Class A (sub. vtg.) (a)

14,500,000

264,915

Grupo Continental Sab de CV Series I

2,000,000

5,356

Hansen Natural Corp. (a)

1,500,000

66,120

Hite Holdings Co. Ltd.

20,000

446

 

353,149

Food & Staples Retailing - 4.6%

Aoki Super Co. Ltd.

75,000

708

Belc Co. Ltd. (e)

2,086,000

20,209

Cawachi Ltd.

5,000

102

Cosmos Pharmaceutical Corp.

923,700

19,471

Create SD Holdings Co. Ltd. (e)

1,710,000

34,043

CVS Caremark Corp.

2,700,000

99,711

Daikokutenbussan Co. Ltd.

550,000

16,149

Fyffes PLC (Ireland) (e)

32,000,000

15,182

Growell Holdings Co. Ltd.

309,989

6,604

Halows Co. Ltd. (e)

1,104,300

7,759

Ingles Markets, Inc. Class A

729,860

11,700

Kroger Co.

200,000

4,446

Kusuri No Aoki Co. Ltd.

73,500

899

Majestic Wine PLC

450,016

1,994

Marukyu Co. Ltd.

5,000

50

Metro, Inc. Class A (sub. vtg.) (d)(e)

10,925,833

482,749

North West Co. Fund

240,000

4,428

Safeway, Inc. (e)

24,000,000

566,400

San-A Co. Ltd.

375,000

15,351

Shinsegae Food Co. Ltd.

17,000

1,231

Shoppers Drug Mart Corp.

10,000

346

Sligro Food Group NV

1,800,000

60,576

Sundrug Co. Ltd.

710,000

16,524

Village Super Market, Inc. Class A

161,104

4,335

Walgreen Co.

1,500,097

52,728

Yaoko Co. Ltd.

575,000

16,589

 

1,460,284

Food Products - 1.5%

American Italian Pasta Co. Class A (a)

400,000

15,692

ARYZTA AG

1,850,000

70,691

Food Empire Holdings Ltd. (e)

52,900,000

14,348

Fresh Del Monte Produce, Inc. (a)(e)

6,359,900

132,731

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Food Products - continued

Global Bio-Chem Technology Group Co. Ltd.

50,000,000

$ 11,457

Greggs PLC

675,000

4,957

Industrias Bachoco SA de CV sponsored ADR

2,300,000

50,600

Kerry Group PLC Class A

100,000

3,198

Nam Yang Dairy Products

11,000

5,286

Pacific Andes (Holdings) Ltd.

76,002,488

20,987

Pacific Andes (Holdings) Ltd. warrants 7/22/11 (a)

7,208,695

887

Pacific Andes International Holdings Ltd.

51,000,000

9,126

Pacific Andes International Holdings Ltd. warrants 6/15/11 (a)

9,600,000

199

People's Food Holdings Ltd.

40,984,000

20,620

President Rice Products PCL

100,000

693

Rocky Mountain Chocolate Factory, Inc. (e)

504,300

4,801

Samyang Genex Co. Ltd.

145,795

8,608

Select Harvests Ltd.

1,734,838

7,093

Smithfield Foods, Inc. (a)

3,100,030

58,095

Sunjin Co. Ltd. (a)(e)

219,900

7,525

Synear Food Holdings Ltd. (a)

27,944,000

5,900

United Food Holdings Ltd. (a)

22,400,000

1,214

Yutaka Foods Corp.

275,000

4,128

 

458,836

Personal Products - 0.8%

American Oriental Bioengineering, Inc. (a)

25,000

101

Atrium Innovations, Inc. (a)

60,000

897

CCA Industries, Inc.

139,609

778

Inter Parfums, Inc. (e)

1,850,000

31,968

NBTY, Inc. (a)(e)

4,600,000

187,128

Nutraceutical International Corp. (a)(e)

1,143,504

17,690

Physicians Formula Holdings, Inc. (a)(e)

1,200,534

3,626

Sarantis SA

454,782

2,737

The Female Health Co.

10,000

64

 

244,989

Tobacco - 0.0%

Karelia Tobacco Co., Inc.

2,452

217

TOTAL CONSUMER STAPLES

2,517,475

ENERGY - 6.5%

Energy Equipment & Services - 3.1%

AKITA Drilling Ltd. Class A (non-vtg.)

1,777,000

16,280

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Energy Equipment & Services - continued

Basic Energy Services, Inc. (a)(e)

4,050,000

$ 41,351

Bristow Group, Inc. (a)(e)

1,850,017

71,614

Cal Dive International, Inc. (a)

10,000

66

CE Franklin Ltd. (a)(e)

1,472,000

10,140

Dawson Geophysical Co. (a)

211,856

6,205

Divestco, Inc. (a)(e)

3,586,000

3,211

Ensign Energy Services, Inc.

1,000,000

13,511

Farstad Shipping ASA (d)(e)

2,625,000

71,029

Flint Energy Services Ltd. (a)(f)

484,700

6,396

Fugro NV (Certificaten Van Aandelen) unit

1,700,027

110,673

Global Industries Ltd. (a)

2,000,038

13,400

Gulf Island Fabrication, Inc.

88,555

2,123

Hercules Offshore, Inc. (a)

2,350,000

9,306

Hornbeck Offshore Services, Inc. (a)

659,913

16,148

Oil States International, Inc. (a)(e)

4,984,108

240,782

Pason Systems, Inc.

800,000

9,604

Peak Energy Services Trust (a)

2,594,000

664

Peak Energy Services Trust (a)(f)

13,655,286

3,494

Precision Drilling Trust (a)

5,300,000

40,212

ProSafe ASA

7,900,000

44,059

Prosafe Production Public Ltd. (a)

7,500,000

18,828

Solstad Offshore ASA (d)

1,300,000

27,470

Superior Well Services, Inc. (a)

300,400

4,356

Total Energy Services, Inc. (e)

2,800,000

25,349

Unit Corp. (a)(e)

3,600,047

171,974

Wenzel Downhole Tools Ltd. (a)

200,000

250

 

978,495

Oil, Gas & Consumable Fuels - 3.4%

Adams Resources & Energy, Inc. (e)

421,700

7,974

AOC Holdings, Inc. (e)

5,825,000

38,077

Beach Energy Ltd.

7,000,000

5,035

Cimarex Energy Co.

1,350,000

91,908

Cloud Peak Energy, Inc.

50,000

800

ENI SpA

9,300,000

207,872

Frontier Oil Corp.

3,350,008

50,920

Great Eastern Shipping Co. Ltd.

1,750,000

12,935

Hankook Shell Oil Co. Ltd. (e)

75,000

10,945

Holly Corp.

100,000

2,700

Mariner Energy, Inc. (a)(f)

1,831,700

43,741

Michang Oil Industrial Co. Ltd. (e)

173,900

7,600

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

National Energy Group, Inc. (a)

548,313

$ 2,413

Oil Search Ltd.

13,652,522

70,907

Pebercan, Inc. (a)

1,150,000

0*

Petroleum Development Corp. (a)

202,024

4,729

Rex Stores Corp. (a)(e)

1,375,000

23,595

Stone Energy Corp. (a)

130,000

2,119

Suncor Energy, Inc.

1,000,000

34,196

Sunoco, Inc.

2,500,000

81,950

Swift Energy Co. (a)(e)

3,500,374

126,644

Tesoro Corp.

4,500,000

59,175

Tsakos Energy Navigation Ltd.

310,000

4,538

USEC, Inc. (a)(d)(e)

8,600,000

51,600

W&T Offshore, Inc. (d)(e)

6,375,000

60,371

World Fuel Services Corp.

2,001,522

56,903

 

1,059,647

TOTAL ENERGY

2,038,142

FINANCIALS - 8.5%

Capital Markets - 0.0%

GFI Group, Inc.

250,000

1,725

Massachusetts Financial Corp. Class A

36,538

391

optionsXpress Holdings, Inc.

10,000

178

TradeStation Group, Inc. (a)

1,250,000

10,450

 

12,744

Commercial Banks - 0.8%

Anglo Irish Bank Corp. PLC (a)

9,500,373

0*

Aozora Bank Ltd. (a)

150,000

216

Bank of the Ozarks, Inc. (d)

250,342

9,631

Cathay General Bancorp (e)

4,125,000

51,026

Center Financial Corp. (a)(e)

2,170,731

14,631

Codorus Valley Bancorp, Inc.

86,526

740

Dimeco, Inc.

21,140

793

East West Bancorp, Inc.

4,600,000

90,114

First Bancorp, Puerto Rico (d)(e)

7,300,000

15,476

Nara Bancorp, Inc. (a)

40,000

360

National Penn Bancshares, Inc. (d)

1,200,000

8,784

Norwood Financial Corp.

13,830

384

Oba Financial Service, Inc. (a)

6,092

67

Oriental Financial Group, Inc.

1,380,000

23,074

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Commercial Banks - continued

Pacific Premier Bancorp, Inc. (a)(e)

941,500

$ 4,670

S.Y. Bancorp, Inc. (d)

4,688

111

Sandy Spring Bancorp, Inc.

300,000

5,235

Smithtown Bancorp, Inc.

8,738

41

Sparebanken More (primary capital certificate)

92,008

2,967

Sparebanken Rogaland (primary capital certificate) (d)

1,061,327

9,688

The First Bancorp, Inc. (d)

9,711

154

Vestjysk Bank AS (Reg.) (a)

105,600

1,768

Wilshire Bancorp, Inc.

200,000

2,172

 

242,102

Consumer Finance - 0.1%

Aeon Credit Service (Asia) Co. Ltd.

12,400,000

10,667

First Cash Financial Services, Inc. (a)

100,000

2,206

Nicholas Financial, Inc.

200,827

1,727

Student Loan Corp.

458,225

12,940

 

27,540

Diversified Financial Services - 0.0%

CIT Group, Inc. (a)

170,000

6,902

Korea Information Service, Inc.

204,946

4,113

Newship Ltd.

2,500

153

Ricoh Leasing Co. Ltd.

10,000

256

 

11,424

Insurance - 6.3%

Aegon NV (a)

18,402,400

128,721

Assurant, Inc.

5,575,000

203,097

Axis Capital Holdings Ltd. (e)

7,720,000

240,632

Employers Holdings, Inc.

630,048

10,383

Endurance Specialty Holdings Ltd.

2,600,000

95,810

FBL Financial Group, Inc. Class A

410,002

10,594

Fidelity National Financial, Inc. Class A

400,000

6,072

First Mercury Financial Corp.

450,000

5,900

Genworth Financial, Inc. Class A (a)

13,800,000

227,976

Hartford Financial Services Group, Inc.

5,200,000

148,564

Lincoln National Corp.

5,300,032

162,128

National Interstate Corp.

943,532

19,710

National Western Life Insurance Co. Class A

148,870

28,455

Protective Life Corp.

1,605,000

38,632

RenaissanceRe Holdings Ltd. (e)

3,100,000

173,445

SeaBright Insurance Holdings, Inc.

20,028

218

Symetra Financial Corp.

125,000

1,688

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Insurance - continued

Tower Group, Inc.

352,000

$ 8,117

Unico American Corp.

37,385

355

Unum Group

15,950,000

390,297

Validus Holdings Ltd.

3,014,877

77,090

 

1,977,884

Real Estate Investment Trusts - 0.4%

General Growth Properties, Inc.

300,000

4,710

Kite Realty Group Trust

500,460

2,712

ProLogis Trust

6,660,000

87,712

SL Green Realty Corp.

200,000

12,434

Sunstone Hotel Investors, Inc. (a)

800,000

10,184

VastNed Offices/Industrial NV

100,000

1,526

 

119,278

Real Estate Management & Development - 0.1%

Airport Facilities Co. Ltd.

235,000

1,201

Devine Ltd.

6,000,000

1,792

Relo Holdings Corp.

630,000

10,792

Tejon Ranch Co. (a)(d)

740,120

21,286

 

35,071

Thrifts & Mortgage Finance - 0.8%

Bank Mutual Corp.

20,000

142

First Financial Service Corp. (d)

102,373

869

Genworth MI Canada, Inc.

5,800,000

164,035

North Central Bancshares, Inc. (e)

134,461

2,488

Northwest Bancshares, Inc.

600,190

7,496

The PMI Group, Inc. (a)(d)(e)

12,388,300

64,543

WSB Holdings, Inc.

16,329

50

 

239,623

TOTAL FINANCIALS

2,665,666

HEALTH CARE - 12.7%

Biotechnology - 0.6%

Amgen, Inc. (a)

3,000,000

172,080

Biogen Idec, Inc. (a)

250,000

13,313

Martek Biosciences (a)

175,000

3,855

Vital BioTech Holdings Ltd. (a)

15,000,000

590

 

189,838

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Health Care Equipment & Supplies - 1.5%

Anika Therapeutics, Inc. (a)

30,934

$ 218

Atrion Corp.

10,000

1,418

Cooper Companies, Inc.

712,412

27,706

Corin Group PLC

250,000

255

Exactech, Inc. (a)(e)

700,000

14,322

Hoshiiryou Sanki Co. Ltd. (e)

210,800

4,210

Immucor, Inc. (a)

135,000

2,890

Kinetic Concepts, Inc. (a)

2,460,000

106,518

Mani, Inc.

350,000

12,520

Medical Action Industries, Inc. (a)(e)

1,629,580

19,343

Nakanishi, Inc.

271,300

24,551

National Dentex Corp. (a)(e)

565,449

9,601

Prim SA (e)

1,615,000

16,043

Span-America Medical System, Inc.

102,958

1,720

St. Shine Optical Co. Ltd.

1,000,200

7,919

Stryker Corp.

50,000

2,872

Symmetry Medical, Inc. (a)

225,000

2,601

Syneron Medical Ltd. (a)(e)

3,025,000

34,788

Techno Medica Co. Ltd.

86

252

Theragenics Corp. (a)(e)

3,304,620

5,089

Top Glove Corp. Bhd

750,000

2,978

Utah Medical Products, Inc. (e)

460,000

12,839

Value Added Technlgies Co. Ltd.

100,000

1,027

Varian Medical Systems, Inc. (a)

125,000

7,048

Young Innovations, Inc. (e)

791,040

19,910

Zimmer Holdings, Inc. (a)

2,000,000

121,820

 

460,458

Health Care Providers & Services - 9.2%

Advocat, Inc. (e)

566,360

3,868

Almost Family, Inc. (a)

160,000

6,778

Amedisys, Inc. (a)(d)

1,375,000

79,173

American HomePatient, Inc. (a)(e)

1,026,500

616

AMERIGROUP Corp. (a)(e)

4,986,967

180,728

AmSurg Corp. (a)(e)

2,353,000

48,754

AS One Corp.

220,000

3,851

Centene Corp. (a)

675,000

15,458

Continucare Corp. (a)

10,000

34

Corvel Corp. (a)

100,054

3,332

Coventry Health Care, Inc. (a)(e)

14,562,627

345,717

Grupo Casa Saba SA de CV sponsored ADR

1,069,800

18,508

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Health Care Providers & Services - continued

Health Grades, Inc. (a)

350,046

$ 2,454

Health Net, Inc. (a)(e)

6,700,000

147,534

Healthspring, Inc. (a)(e)

3,224,972

56,760

Healthways, Inc. (a)(e)

1,703,000

27,742

Henry Schein, Inc. (a)

150,000

9,071

Japan Medical Dynamic Marketing, Inc.

100,000

301

Kindred Healthcare, Inc. (a)

200,000

3,568

LHC Group, Inc. (a)

130,000

4,433

LifePoint Hospitals, Inc. (a)(e)

4,819,000

183,989

Lincare Holdings, Inc. (a)(d)(e)

9,400,025

438,887

Medica Sur SA de CV

209,200

423

MEDNAX, Inc. (a)

100,000

5,494

Molina Healthcare, Inc. (a)(e)

1,450,000

42,297

Patterson Companies, Inc.

4,642,727

148,521

Psychemedics Corp.

40,331

321

Psychiatric Solutions, Inc. (a)

300,000

9,651

ResCare, Inc. (a)(e)

1,738,520

20,236

Triple-S Management Corp. (a)(e)

1,168,455

21,266

U.S. Physical Therapy, Inc. (a)

15,000

263

United Drug PLC:

(Ireland)

7,899,233

27,551

(United Kingdom)

518,887

1,785

UnitedHealth Group, Inc.

27,500,700

833,540

Universal American Financial Corp. (a)

1,700,443

26,102

VCA Antech, Inc. (a)

25,045

713

Wellcare Health Plans, Inc. (a)

2,000,000

57,260

WellPoint, Inc. (a)

2,250,000

121,050

Win International Co., Ltd.

526,673

3,488

 

2,901,517

Health Care Technology - 0.0%

Arrhythmia Research Technology, Inc. (e)

271,041

2,155

Life Sciences Tools & Services - 0.7%

Charles River Laboratories International, Inc. (a)

2,525,048

84,539

ICON PLC sponsored ADR (a)

2,100,000

61,257

Medtox Scientific, Inc. (a)

94,105

1,205

Thermo Fisher Scientific, Inc. (a)

1,200,000

66,336

 

213,337

Pharmaceuticals - 0.7%

Bukwang Pharmaceutical Co. Ltd.

10,000

163

Cadence Pharmaceuticals, Inc. (a)

10,000

98

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Pharmaceuticals - continued

Daewon Pharmaceutical Co. Ltd.

347,100

$ 1,928

Endo Pharmaceuticals Holdings, Inc. (a)

4,100,039

89,791

Forest Laboratories, Inc. (a)

1,850,000

50,431

Fornix Biosciences NV (e)

475,022

2,843

Ildong Pharmaceutical Co. Ltd. (e)

501,013

14,078

Jeil Pharmaceutical Co.

255,740

2,495

KunWha Pharmaceutical Co., Ltd. (e)

325,000

3,737

KV Pharmaceutical Co. Class A (a)(d)

4,050,450

6,278

Pacific Pharmaceutical Co. Ltd.

21,160

625

Recordati SpA (d)

2,550,000

19,183

Torii Pharmaceutical Co. Ltd.

620,000

10,733

Whanin Pharmaceutical Co. Ltd. (e)

1,860,000

12,401

Yuyu Pharma, Inc.

255,000

1,402

 

216,186

TOTAL HEALTH CARE

3,983,491

INDUSTRIALS - 8.1%

Aerospace & Defense - 0.9%

Alabama Aircraft Industries, Inc. (a)(e)

245,280

417

CAE, Inc. (e)

14,300,400

130,874

Ceradyne, Inc. (a)

299,475

6,648

LMI Aerospace, Inc. (a)

199,965

3,451

Magellan Aerospace Corp. (a)

413,100

963

Moog, Inc. Class A (a)

3,800,007

141,246

 

283,599

Air Freight & Logistics - 0.3%

Air T, Inc. (e)

152,599

1,856

Dynamex, Inc. (a)

139,383

2,466

Kintetsu World Express, Inc.

500,000

11,966

Pacer International, Inc. (a)(e)

1,825,017

12,118

Sinwa Ltd.

10,000,000

2,799

Yusen Air & Sea Service Co. Ltd. (e)

4,221,500

64,089

 

95,294

Airlines - 0.1%

MAIR Holdings, Inc. (a)(e)

2,000,026

0*

Pinnacle Airlines Corp. (a)

829,981

6,067

Republic Airways Holdings, Inc. (a)(d)(e)

2,500,000

15,650

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Airlines - continued

Ryanair Holdings PLC sponsored ADR (a)

25,000

$ 704

SkyWest, Inc.

332,138

4,975

 

27,396

Building Products - 0.2%

AAON, Inc.

809,991

19,553

Insteel Industries, Inc.

845,416

10,365

Kingspan Group PLC (Ireland) (a)

2,630,000

24,603

Kondotec, Inc. (e)

1,000,000

7,239

 

61,760

Commercial Services & Supplies - 1.1%

AJIS Co. Ltd. (e)

438,500

7,726

Cintas Corp.

3,350,000

91,288

Fursys, Inc.

581,000

14,526

Gl Events

40,000

1,120

HNI Corp. (d)

252,300

7,831

Knoll, Inc. (e)

4,650,016

65,007

Mitie Group PLC

11,600,006

41,381

Moshi Moshi Hotline, Inc.

285,000

5,874

Multi-Color Corp.

5,000

63

RPS Group PLC

350,000

1,214

Secom Techno Service Co. Ltd. (e)

1,266,000

34,922

United Stationers, Inc. (a)(e)

1,250,000

76,525

VICOM Ltd.

2,670,000

5,170

 

352,647

Construction & Engineering - 0.6%

Arcadis NV

1,265,000

27,358

Aveng Ltd.

450,000

2,266

Chodai Co. Ltd.

100,000

261

Commuture Corp.

785,000

4,939

Daiichi Kensetsu Corp. (e)

1,586,200

12,598

Daimei Telecom Engineering Corp.

1,510,000

12,314

Dongyang Engineering & Construction Corp. (e)

210,000

2,622

EMCOR Group, Inc. (a)

125,000

3,570

Granite Construction, Inc.

100,000

3,361

Hanil Construction Co. Ltd.

50,000

163

Heijmans NV unit (a)

10,000

168

Hyder Consulting PLC

525,000

2,147

Imtech NV

925,000

29,175

Jacobs Engineering Group, Inc. (a)

550,000

26,521

Kaneshita Construction Co. Ltd.

925,000

3,841

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Construction & Engineering - continued

KHD Humboldt Wedag International AG

121,550

$ 1,031

Kier Group PLC

30,000

521

Koninklijke BAM Groep NV (d)

1,000,000

7,497

Kyeryong Construction Industrial Co. Ltd. (e)

893,000

12,516

Meisei Industrial Co. Ltd.

768,000

2,355

Northwest Pipe Co. (a)

307,590

7,419

Sanyo Engineering & Construction, Inc.

1,000,000

3,439

Severfield-Rowen PLC

700,000

2,337

Shinnihon Corp.

1,800,000

5,251

Shinsegae Engineering & Construction Co. Ltd. (e)

314,469

3,831

ShoLodge, Inc. (a)(e)

500,627

75

Sterling Construction Co., Inc. (a)

10,000

175

United Integration Services Co. Ltd.

4,000,000

3,889

Vianini Lavori SpA

350,000

2,162

 

183,802

Electrical Equipment - 0.6%

Aichi Electric Co. Ltd.

1,055,000

3,044

Aros Quality Group AB

181,475

1,153

AZZ, Inc. (e)

1,110,000

45,088

Belden, Inc.

300,041

8,239

Canare Electric Co. Ltd.

125,000

1,606

Chase Corp. (e)

853,155

11,202

Chiyoda Integre Co. Ltd.

500,000

8,858

Deswell Industries, Inc. (e)

891,999

4,326

Draka Holding NV (a)

1,000,000

19,522

Fushi Copperweld, Inc. (a)

275,000

3,042

General Cable Corp. (a)

150,000

4,286

Graphite India Ltd.

1,200,000

2,783

Hubbell, Inc. Class B

400,000

18,588

Korea Electric Terminal Co. Ltd. (e)

700,000

11,079

Nexans SA

425,000

33,507

PK Cables OY

250,000

3,683

Prysmian SpA

400,000

7,203

Thomas & Betts Corp. (a)

100,000

4,194

Universal Security Instruments, Inc. (a)(e)

241,255

1,710

Zumtobel AG (a)

150,000

3,235

 

196,348

Industrial Conglomerates - 1.1%

DCC PLC (Ireland) (e)

8,250,000

221,138

Reunert Ltd.

500,000

3,919

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Industrial Conglomerates - continued

Seaboard Corp.

61,500

$ 89,791

Textron, Inc.

1,000,000

22,840

 

337,688

Machinery - 1.5%

Aalberts Industries NV

3,510,000

57,191

Actuant Corp. Class A

100,000

2,293

American Railcar Industries, Inc.

180,384

2,949

Briggs & Stratton Corp.

113,100

2,685

Cascade Corp. (e)

1,076,721

37,534

CKD Corp. (e)

5,900,000

50,376

Columbus McKinnon Corp. (NY Shares) (a)(e)

1,239,953

22,356

Dynamic Materials Corp.

20,000

359

Foremost Income Fund (e)

2,141,103

12,747

Gardner Denver, Inc.

750,000

37,718

Gencor Industries, Inc. (a)

283,103

2,214

Greenbrier Companies, Inc. (a)(e)

1,475,000

24,013

Hardinge, Inc. (e)

606,276

6,063

Hi-P International Ltd.

27,735,000

13,540

Hurco Companies, Inc. (a)(e)

643,998

12,532

Hwacheon Machine Tool Co. Ltd. (e)

219,900

8,222

Ihara Science Corp.

566,000

3,320

Inoue Kinzoku Kogyo Co. Ltd. (e)

1,082,000

5,875

Jaya Holdings Ltd. (e)

70,500,000

38,946

Kyowakogyosyo Co.,Ltd.

79,000

539

Lincoln Electric Holdings, Inc.

120,000

7,193

Miller Industries, Inc.

560,037

8,009

NACCO Industries, Inc. Class A

607,289

52,798

Nadex Co. Ltd. (e)

538,000

2,199

Nichidai Corp. (a)

91,400

249

Nippon Thompson Co. Ltd.

5,000

34

Nitta Corp.

55,000

871

NN, Inc. (a)(e)

1,120,039

8,064

S&T Holdings Co. Ltd.

610,020

7,234

Singamas Container Holdings Ltd. (a)

5,000,631

896

Takamatsu Machinery Co., Ltd.

105,000

387

Takeuchi Manufacturing Co. Ltd.

270,000

4,211

Terex Corp. (a)

325,000

8,619

Tocalo Co. Ltd.

175,000

3,609

Trifast PLC (a)(e)

8,520,000

3,959

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Machinery - continued

Trinity Industrial Corp.

514,000

$ 2,194

Twin Disc, Inc. (e)

588,171

8,305

 

460,303

Marine - 0.0%

Tokyo Kisen Co. Ltd. (e)

1,000,000

4,205

Professional Services - 1.1%

Boardroom Ltd.

3,000,000

1,227

Clarius Group Ltd. (a)

4,014,492

2,490

Corporate Executive Board Co.

850,000

23,341

CRA International, Inc. (a)(e)

622,372

14,458

en-japan, Inc. (d)

6,100

10,852

Equifax, Inc.

5,135,000

172,536

GFK AG

175,000

6,573

Hays PLC

1,500,000

2,549

LECG Corp. (a)

639,396

2,148

Manpower, Inc.

100,000

5,610

RCM Technologies, Inc. (a)(e)

1,299,917

5,343

SmartPros Ltd.

125,000

374

SR Teleperformance SA

270,000

9,439

Stantec, Inc. (a)(e)

2,550,000

64,867

Synergie SA

135,000

3,809

Temp Holdings Co., Ltd. (d)

325,000

2,744

TrueBlue, Inc. (a)

100,000

1,579

VSE Corp.

145,046

5,829

 

335,768

Road & Rail - 0.3%

Alps Logistics Co. Ltd. (e)

1,723,700

18,333

Con-way, Inc.

250,000

9,710

Contrans Group, Inc. Class A

220,000

2,165

Hutech Norin Co. Ltd. (e)

1,043,700

8,600

Japan Logistic Systems Corp.

175,000

440

Sakai Moving Service Co. Ltd. (e)

778,000

16,185

Trancom Co. Ltd. (e)

1,032,400

16,652

Universal Truckload Services, Inc. (a)

474,513

8,665

US 1 Industries, Inc. (a)(e)

1,100,200

1,320

Vitran Corp., Inc. (a)

110,000

1,671

Vitran Corp., Inc. (a)(g)

500,000

7,595

 

91,336

Trading Companies & Distributors - 0.3%

AddTech AB (B Shares)

425,000

7,268

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Trading Companies & Distributors - continued

BSS Group PLC

5,000

$ 24

Grafton Group PLC unit

6,700,017

32,363

Hanwa Co. Ltd.

350,000

1,505

Houston Wire & Cable Co.

858,200

11,285

KS Energy Services Ltd.

14,100,000

14,048

Otec Corp.

100,000

638

Parker Corp. (e)

2,400,000

4,088

Richelieu Hardware Ltd.

375,000

9,037

Senshu Electric Co. Ltd. (e)

1,080,000

12,475

Tanaka Co. Ltd.

50,000

202

TECHNO ASSOCIE CO., LTD.

84,200

597

Totech Corp.

68,000

207

Uehara Sei Shoji Co. Ltd.

1,125,000

4,791

Wakita & Co. Ltd.

650,000

2,657

Yamazen Co. Ltd.

300,000

1,303

 

102,488

Transportation Infrastructure - 0.0%

Isewan Terminal Service Co. Ltd. (e)

1,575,000

6,774

Meiko Transportation Co. Ltd.

905,000

7,958

 

14,732

TOTAL INDUSTRIALS

2,547,366

INFORMATION TECHNOLOGY - 15.6%

Communications Equipment - 0.8%

Bel Fuse, Inc.:

Class A

372,293

8,094

Class B (non-vtg.)

100,033

2,343

Black Box Corp. (e)

1,981,025

61,788

Blonder Tongue Laboratories, Inc. (a)

152,040

175

China TechFaith Wireless Communication Technology Ltd. sponsored ADR (a)

2,252,137

5,360

ClearOne Communications, Inc. (a)(e)

1,000,503

3,052

Cogo Group, Inc. (a)

216,467

1,524

CommScope, Inc. (a)

5,000

163

Comtech Telecommunications Corp. (a)

50,000

1,562

Ditech Networks, Inc. (a)(e)

2,596,396

4,024

Mitel Networks, Inc. (a)

200,000

2,396

NEC Mobiling Ltd.

249,500

6,340

Nera Telecommunications Ltd.

9,000,000

2,482

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Communications Equipment - continued

NETGEAR, Inc. (a)(e)

3,534,317

$ 95,639

Opnext, Inc. (a)

2,652,231

6,233

Optical Cable Corp. (a)(e)

537,002

1,686

TKH Group NV unit

3,030,000

63,491

 

266,352

Computers & Peripherals - 2.0%

ASUSTeK Computer, Inc.

22,400,511

43,211

Compal Electronics, Inc.

53,000,000

73,689

Datapulse Technology Ltd.

1,500,000

239

Logitech International SA (a)(d)

535,000

8,763

Logitech International SA (Reg.) (a)

7,300,000

119,181

Rimage Corp. (a)(e)

939,534

16,489

Roland DG Corp.

210,000

3,468

Seagate Technology (a)

11,675,000

214,470

Super Micro Computer, Inc. (a)(e)

2,329,810

33,037

TPV Technology Ltd.

52,000,000

39,820

Western Digital Corp. (a)

900,000

36,981

Xyratex Ltd. (a)(e)

2,923,900

51,461

 

640,809

Electronic Equipment & Components - 4.6%

A&D Co. Ltd. (a)(d)(e)

1,752,100

7,461

Beijer Electronics AB (d)

40,000

818

CNB Technology, Inc.

100,000

664

CPI International, Inc. (a)

584,261

7,847

Daktronics, Inc. (d)(e)

2,303,314

19,302

Delta Electronics PCL (For. Reg.)

30,000,000

19,877

Diploma PLC

135,000

459

Elec & Eltek International Co. Ltd.

963,000

2,288

Elematec Corp. (e)

1,670,000

20,197

Excel Co. Ltd. (e)

909,800

12,660

Foxconn International Holdings Ltd. (a)(d)

3,000,000

2,693

Hon Hai Precision Industry Co. Ltd. (Foxconn)

81,000,993

380,419

Huan Hsin Holdings Ltd. (a)

7,200,000

1,776

Image Sensing Systems, Inc. (a)(e)

350,000

4,725

Ingram Micro, Inc. Class A (a)

500,000

9,080

Insight Enterprises, Inc. (a)

1,950,049

29,309

INTOPS Co. Ltd. (e)

859,900

14,838

Jurong Technologies Industrial Corp. Ltd. (a)

29,873,347

0*

Kingboard Chemical Holdings Ltd.

41,000,000

219,806

Kingboard Chemical Holdings Ltd. warrants 10/31/12 (a)

4,100,000

6,727

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Electronic Equipment & Components - continued

Kingboard Laminates Holdings Ltd.

9,000,000

$ 9,562

Kingwell Group Ltd. (a)

17,588,201

1,007

KITAGAWA INDUSTRIES CO., LTD.

100,000

1,171

Measurement Specialties, Inc. (a)

96,563

1,590

Mesa Laboratories, Inc. (e)

317,500

8,198

Muramoto Electronic Thailand PCL (For. Reg.)

1,700,000

8,604

Nippo Ltd.

400,000

2,308

Orbotech Ltd. (a)(e)

2,449,985

29,645

Renishaw PLC

425,000

4,329

Rofin-Sinar Technologies, Inc. (a)

125,000

3,320

ScanSource, Inc. (a)(e)

2,067,123

57,590

SED International Holdings, Inc. (a)(e)

475,000

1,116

Shibaura Electronics Co. Ltd. (e)

706,000

9,343

Sigmatron International, Inc. (a)(e)

381,880

2,406

SMART Modular Technologies (WWH), Inc. (a)(e)

6,200,284

43,526

Spectrum Control, Inc. (a)(e)

1,150,049

15,986

SYNNEX Corp. (a)(e)

3,406,870

93,416

Taitron Components, Inc. Class A (sub. vtg.)

359,023

582

Tomen Electronics Corp. (e)

1,492,400

18,272

Tyco Electronics Ltd.

5,300,000

170,236

Unimicron Technology Corp.

5,000,000

7,515

Venture Corp. Ltd. (e)

23,000,000

164,537

VST Holdings Ltd.

40,000,000

14,782

Winland Electronics, Inc. (a)(e)

337,600

287

Wireless Telecom Group, Inc. (a)(e)

1,767,712

1,591

XAC Automation Corp. (e)

5,700,000

5,746

 

1,437,611

Internet Software & Services - 1.1%

AhnLab, Inc.

200,000

4,162

AOL, Inc. (a)

50,000

1,168

Artificial Life, Inc. (a)

50,000

66

Daou Technology, Inc.

800,000

6,601

DivX, Inc. (a)

1,489,193

12,450

eBay, Inc. (a)

7,800,007

185,718

j2 Global Communications, Inc. (a)(e)

3,763,840

90,633

Jorudan Co. Ltd.

102,400

959

LoopNet, Inc. (a)

350,049

3,949

Meetic

1,000

28

Monster Worldwide, Inc. (a)

1,300,043

22,660

NetGem SA

500,000

2,121

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Internet Software & Services - continued

Perficient, Inc. (a)

1,097,250

$ 13,683

Softbank Technology Corp. (e)

640,000

5,757

UANGEL Corp. (e)

1,200,000

6,422

United Internet AG

50,000

751

 

357,128

IT Services - 2.7%

Accenture PLC Class A

500,000

21,820

ALTEN (a)

460,000

13,424

Amdocs Ltd. (a)

8,000,000

255,520

Argo Graphics, Inc.

456,600

5,201

Calian Technologies Ltd. (e)

778,500

13,667

Computer Services, Inc.

80,000

3,260

Computer Task Group, Inc. (a)

10,000

94

Convergys Corp. (a)

1,300,000

16,432

CSE Global Ltd. (e)

39,855,000

30,243

EOH Holdings Ltd.

1,300,000

2,042

Groupe Steria SCA

1,000

31

Heartland Payment Systems, Inc. (e)

2,650,023

48,707

HIQ International AB

900,000

4,335

Indra Sistemas SA

5,205,000

104,356

Integral Systems, Inc. (a)

5,000

44

Know IT AB (d)

540,206

5,053

Mastek Ltd. (e)

1,850,000

12,424

Matsushita Electric Works Information Systems Co. Ltd.

275,000

7,067

NeuStar, Inc. Class A (a)

350,000

8,565

Patni Computer Systems Ltd. sponsored ADR

1,950,000

46,293

Rolta India Ltd.

500,000

2,109

SinoCom Software Group Ltd. (e)

68,006,000

11,192

Softcreate Co., Ltd.

55,000

541

Syntel, Inc.

326,775

11,803

The Western Union Co.

100,000

1,825

Total System Services, Inc. (e)

13,000,606

208,140

Wright Express Corp. (a)

10,000

340

 

834,528

Office Electronics - 0.4%

Canon Finetech, Inc.

725,000

12,773

Xerox Corp.

10,000,000

109,000

 

121,773

Semiconductors & Semiconductor Equipment - 1.0%

Axcelis Technologies, Inc. (a)(e)

10,327,957

24,581

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Diodes, Inc. (a)(e)

3,700,253

$ 79,444

ELMOS Semiconductor AG (a)(d)(e)

1,100,000

9,663

Gennum Corp. (e)

2,699,980

21,388

Intest Corp. (a)(e)

919,300

3,006

KEC Holdings Co. Ltd. (e)

1,399,999

2,454

Kontron AG

25,000

237

Lasertec Corp.

335,000

5,171

Leeno Industrial, Inc.

200,000

2,611

Melexis NV (a)(e)

3,325,000

38,255

Miraial Co. Ltd.

150,000

4,744

Nextchip Co. Ltd.

35,000

491

Novatek Microelectronics Corp.

800,000

2,743

Omnivision Technologies, Inc. (a)(e)

2,808,896

49,324

Photronics, Inc. (a)

1,100,010

5,995

Powertech Technology, Inc.

5,000,000

17,842

Sunplus Technology Co. Ltd. (a)

7,000,000

6,459

Telechips, Inc. (e)

1,057,600

12,666

Trio-Tech International (a)(e)

322,543

1,335

UKC Holdings Corp. (e)

825,000

12,955

Varitronix International Ltd. (e)

32,340,000

11,578

Y. A. C. Co., Ltd.

300,000

2,871

 

315,813

Software - 3.0%

ANSYS, Inc. (a)(e)

5,100,000

229,500

Aveva Group PLC

35,000

618

Canon Software, Inc.

35,000

237

Cybernet Systems Co. Ltd. (e)

20,500

8,010

DMX Technologies Group Ltd. (a)

4,000,000

1,115

DTS Corp.

200,000

2,423

ebix.com, Inc. (a)(d)

1,375,015

22,371

Epicor Software Corp. (a)

1,850,328

16,986

Exact Holdings NV

655,000

16,428

Geodesic Ltd.

2,750,000

6,988

Hudson Soft Co. Ltd.

700,000

3,011

ICT Automatisering NV (e)

874,000

4,995

IGE + XAO SA

5,885

176

Infomedia Ltd.

1,092,000

251

Jack Henry & Associates, Inc.

1,800,432

45,947

Jastec Co. Ltd.

5,000

29

KSK Co., Ltd.

360,700

2,477

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Software - continued

MICROS Systems, Inc. (a)

400,295

$ 14,875

MicroStrategy, Inc. Class A (a)

40,000

3,064

Net 1 UEPS Technologies, Inc. (a)

550,000

9,020

NSD Co. Ltd.

250,000

3,063

Nucleus Software Exports Ltd.

1,050,000

3,575

Oracle Corp.

17,000,000

439,280

Pervasive Software, Inc. (a)(e)

1,150,000

5,727

Progress Software Corp. (a)(e)

2,399,961

77,399

Societe Pour L'Informatique Industrielle SA

407,537

2,164

Springsoft, Inc.

10,000,922

10,476

SWORD Group

109,966

3,777

Vasco Data Security International, Inc. (a)

500,381

3,242

 

937,224

TOTAL INFORMATION TECHNOLOGY

4,911,238

MATERIALS - 4.5%

Chemicals - 2.6%

American Vanguard Corp.

1,354,343

10,970

Aronkasei Co. Ltd.

500,000

2,172

C. Uyemura & Co. Ltd. (e)

626,200

28,000

Core Molding Technologies, Inc. (a)

314,306

1,666

Cytec Industries, Inc. (e)

3,700,040

177,824

Deepak Fertilisers and Petrochemicals Corp. Ltd. (e)

5,100,000

13,195

Deepak Nitrite Ltd.

119,697

452

Dongbu Fine Chemical Co. Ltd.

100,000

1,478

EcoGreen Fine Chemical Group Ltd. (e)

36,644,000

9,507

FMC Corp.

2,000,000

127,280

Fujikura Kasei Co., Ltd. (e)

2,889,700

15,228

Gujarat Narmada Valley Fertilizers Co.

2,000,000

5,382

Gujarat State Fertilizers & Chemicals Ltd.

1,400,000

8,145

Honshu Chemical Industry Co., Ltd. (e)

650,000

3,598

Innospec, Inc. (e)

2,099,985

27,951

KPC Holdings Corp.

43,478

2,255

Kpx Chemical Co. Ltd.

163,083

7,346

Methanex Corp.

750,300

17,447

Miwon Commercial Co. Ltd.

20,850

1,567

Muto Seiko Co. Ltd.

59,800

735

OM Group, Inc. (a)(e)

2,248,000

84,862

SK Kaken Co. Ltd.

222,000

6,299

Soken Chemical & Engineer Co. Ltd. (e)

805,000

12,573

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Chemicals - continued

T&K Toka Co. Ltd.

350,000

$ 5,295

Thai Carbon Black PCL (For. Reg.)

11,200,000

9,448

Thai Rayon PCL (For. Reg.)

3,000,000

7,270

Yara International ASA (d)

5,200,000

180,461

Yip's Chemical Holdings Ltd. (e)

34,002,000

34,331

 

802,737

Construction Materials - 0.1%

Brampton Brick Ltd. Class A (sub. vtg.) (a)

850,700

5,726

Mitani Sekisan Co. Ltd.

807,000

4,339

Titan Cement Co. SA (Reg.)

550,000

14,637

 

24,702

Containers & Packaging - 0.4%

Chuoh Pack Industry Co. Ltd.

147,000

1,031

Kohsoku Corp. (e)

1,511,300

11,263

Pactiv Corp. (a)

50,000

1,271

Silgan Holdings, Inc.

1,300,000

78,429

Starlite Holdings Ltd.

3,000,000

203

The Pack Corp. (e)

1,400,000

23,490

Vidrala SA

50,000

1,245

 

116,932

Metals & Mining - 1.4%

Anvil Mining Ltd. (a)

100,000

361

Avocet Mining PLC (a)

1,500,000

2,786

Blue Earth Refineries, Inc.

274,309

299

Carpenter Technology Corp.

350,000

13,745

Commercial Metals Co.

600,000

8,928

Compania de Minas Buenaventura SA sponsored ADR

3,000,000

98,670

Gerdau SA sponsored ADR (d)

7,000,000

114,800

Gulf Resources, Inc. (a)

20,000

215

Horsehead Holding Corp. (a)(e)

2,750,000

32,670

HudBay Minerals, Inc. (a)

6,000,000

76,284

Industrias Penoles SA de CV

2,200,000

46,396

Korea Steel Shapes Co. Ltd.

42,000

1,876

Orosur Mining, Inc. (a)

1,515,000

574

Orvana Minerals Corp. (a)

2,550,000

3,262

Pacific Metals Co. Ltd.

1,000,000

8,271

Samuel Manu-Tech, Inc.

100,000

524

Sherritt International Corp.

500,000

3,887

Synalloy Corp.

276,139

2,717

Tohoku Steel Co. Ltd. (e)

595,000

5,695

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Metals & Mining - continued

Tokyo Kohtetsu Co. Ltd.

22,400

$ 108

Tokyo Tekko Co. Ltd. (e)

4,600,000

13,957

Universal Stainless & Alloy Products, Inc. (a)

322,587

7,526

Webco Industries, Inc. (a)

9,122

575

Yamato Kogyo Co. Ltd.

200,000

6,386

 

450,512

Paper & Forest Products - 0.0%

Gunns Ltd.

750,000

360

Stella-Jones, Inc.

35,000

1,009

Stella-Jones, Inc. (g)

165,000

4,311

 

5,680

TOTAL MATERIALS

1,400,563

TELECOMMUNICATION SERVICES - 0.3%

Diversified Telecommunication Services - 0.2%

Atlantic Tele-Network, Inc. (e)

1,338,800

73,875

Wireless Telecommunication Services - 0.1%

Okinawa Cellular Telephone Co.

209

412

SK Telecom Co. Ltd. sponsored ADR (d)

1,900,000

35,169

 

35,581

TOTAL TELECOMMUNICATION SERVICES

109,456

UTILITIES - 0.5%

Electric Utilities - 0.2%

Allegheny Energy, Inc.

3,100,000

67,518

Gas Utilities - 0.1%

Hokuriku Gas Co.

1,600,000

4,088

Keiyo Gas Co. Ltd.

606,000

2,813

KyungDong City Gas Co. Ltd.

139,700

5,876

Otaki Gas Co. Ltd.

700,000

3,875

UGI Corp.

235,000

6,460

 

23,112

Common Stocks - continued

Shares

Value (000s)

UTILITIES - continued

Independent Power Producers & Energy Traders - 0.2%

Constellation Energy Group, Inc.

1,300,033

$ 45,956

Mega First Corp. Bhd

11,703,100

6,141

 

52,097

TOTAL UTILITIES

142,727

TOTAL COMMON STOCKS

(Cost $19,867,630)

28,029,800

Preferred Stocks - 0.7%

 

 

 

 

Convertible Preferred Stocks - 0.7%

CONSUMER DISCRETIONARY - 0.3%

Auto Components - 0.3%

Johnson Controls, Inc. 11.50%

500,000

84,000

FINANCIALS - 0.4%

Commercial Banks - 0.3%

East West Bancorp, Inc. Series A, 8.00%

3,195

4,355

North Valley Bancorp Series A 10.00% (a)(g)

4,750

7,553

Oriental Financial Group, Inc. Series C (a)(g)

16,885

16,916

Popular, Inc. Series D (a)

2,165,400

70,830

 

99,654

Insurance - 0.1%

Hartford Financial Services Group, Inc. Series F 7.25% (a)

516,600

13,680

TOTAL FINANCIALS

113,334

TOTAL CONVERTIBLE PREFERRED STOCKS

197,334

Nonconvertible Preferred Stocks - 0.0%

CONSUMER STAPLES - 0.0%

Beverages - 0.0%

Hite Holdings Co. Ltd.

6,150

94

Food Products - 0.0%

Nam Yang Dairy Products

4,917

1,118

TOTAL CONSUMER STAPLES

1,212

Preferred Stocks - continued

Shares

Value (000s)

Nonconvertible Preferred Stocks - continued

HEALTH CARE - 0.0%

Pharmaceuticals - 0.0%

Pacific Pharmaceutical Co. Ltd.

8,630

$ 194

INDUSTRIALS - 0.0%

Machinery - 0.0%

Jungheinrich AG

30,000

674

MATERIALS - 0.0%

Construction Materials - 0.0%

Buzzi Unicem SpA (Risparmio Shares)

600,000

5,437

TOTAL NONCONVERTIBLE PREFERRED STOCKS

7,517

TOTAL PREFERRED STOCKS

(Cost $123,060)

204,851

Convertible Bonds - 0.1%

 

Principal Amount (000s)

 

ENERGY - 0.1%

Oil, Gas & Consumable Fuels - 0.1%

USEC, Inc. 3% 10/1/14

$ 37,150

30,103

INDUSTRIALS - 0.0%

Industrial Conglomerates - 0.0%

Textron, Inc. 4.5% 5/1/13

8,170

15,121

TOTAL CONVERTIBLE BONDS

(Cost $42,453)

45,224

Money Market Funds - 11.4%

Shares

Value (000s)

Fidelity Cash Central Fund, 0.21% (b)

3,043,617,637

$ 3,043,618

Fidelity Securities Lending Cash Central Fund, 0.22% (b)(c)

530,047,167

530,047

TOTAL MONEY MARKET FUNDS

(Cost $3,573,665)

3,573,665

TOTAL INVESTMENT PORTFOLIO - 101.5%

(Cost $23,606,808)

31,853,540

NET OTHER ASSETS - (1.5)%

(464,061)

NET ASSETS - 100%

$ 31,389,479

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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

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

(e) Affiliated company

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $53,631,000 or 0.2% of net assets.

(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 $36,375,000 or 0.1% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost (000s)

North Valley Bancorp Series A 10.00%

4/20/10

$ 4,750

Oriental Financial Group, Inc. Series C

4/29/10

$ 16,885

Stella-Jones, Inc.

2/25/10

$ 4,125

Vitran Corp., Inc.

9/17/09

$ 4,534

* Amount represents less than $1,000.

Affiliated Central Funds

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

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 4,476

Fidelity Securities Lending Cash Central Fund

7,453

Total

$ 11,929

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

A&D Co. Ltd.

$ 10,352

$ -

$ -

$ -

$ 7,461

Abbey PLC

21,806

-

-

-

21,456

Abercrombie & Fitch Co. Class A

248,840

17,083

12,085

4,626

390,509

Adams Resources & Energy, Inc.

6,494

-

-

211

7,974

Advocat, Inc.

1,039

1,128

-

104

3,868

Air T, Inc.

760

657

-

-

1,856

AJIS Co. Ltd.

9,246

-

-

198

7,726

Alabama Aircraft Industries, Inc.

294

-

-

-

417

Alps Logistics Co. Ltd.

14,757

-

-

611

18,333

American HomePatient, Inc.

521

-

418

-

616

AMERIGROUP Corp.

115,872

7,045

-

-

180,728

AmSurg Corp.

48,519

-

-

-

48,754

ANSYS, Inc.

162,552

-

4,447

-

229,500

AOC Holdings, Inc.

55,113

754

821

878

38,077

Arctic Cat, Inc.

7,518

-

-

-

18,001

ARK Restaurants Corp.

4,444

-

-

523

4,901

Arrhythmia Research Technology, Inc.

959

-

-

16

2,155

ASTI Corp.

4,625

-

-

170

5,375

Atlantic Tele-Network, Inc.

56,136

-

-

803

73,875

Axcelis Technologies, Inc.

5,680

-

-

-

24,581

Axis Capital Holdings Ltd.

219,241

498

-

4,786

240,632

AZZ, Inc.

43,013

-

-

555

45,088

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Barratt Developments PLC

$ 83,406

$ 166,950

$ -

$ -

$ 151,378

Basic Energy Services, Inc.

27,338

-

-

-

41,351

Bed Bath & Beyond, Inc.

527,181

-

327,790

-

-

Belc Co. Ltd.

15,371

3,069

-

565

20,209

Belluna Co. Ltd.

16,592

4,987

-

645

29,330

Bellway PLC

92,404

-

-

736

86,377

Benihana, Inc.

4,570

576

-

-

4,478

Black Box Corp.

54,419

-

-

357

61,788

Blyth, Inc.

37,716

-

-

1,067

51,236

Brinker International, Inc.

143,936

23,428

-

3,247

189,774

Bristow Group, Inc.

86,060

-

28,501

-

71,614

C. Uyemura & Co. Ltd.

27,085

42

-

346

28,000

CAE, Inc.

92,252

2,830

-

1,041

130,874

Calian Technologies Ltd.

11,025

1,395

-

939

13,667

Career Education Corp.

119,184

5,253

4,798

-

153,668

Cascade Corp.

26,527

-

309

43

37,534

Cathay General Bancorp

21,888

15,582

-

97

51,026

CE Franklin Ltd.

4,115

4,112

-

-

10,140

CEC Entertainment, Inc.

66,362

-

1,025

-

87,863

Center Financial Corp.

447

6,825

-

-

14,631

Chase Corp.

9,914

-

-

171

11,202

Chime Communications PLC

5,413

5,084

-

71

13,008

Chimney Co. Ltd.

15,869

-

21,873

-

-

CKD Corp.

30,753

257

820

361

50,376

ClearOne Communications, Inc.

2,831

-

-

-

3,052

Clip Corp.

2,433

382

-

99

2,462

Columbus McKinnon Corp. (NY Shares)

16,591

1,207

-

-

22,356

Cossette, Inc. (sub. vtg.)

4,865

-

8,053

-

-

Coventry Health Care, Inc.

330,602

4,454

-

-

345,717

CRA International, Inc.

9,426

7,878

2,004

-

14,458

Craftmade International, Inc.

1,664

-

-

-

3,135

Create SD Holdings Co. Ltd.

22,426

13,644

-

-

34,043

CSE Global Ltd.

17,583

1,701

-

1,016

30,243

Cybernet Systems Co. Ltd.

8,255

-

-

291

8,010

Cytec Industries, Inc.

118,289

-

45,915

173

177,824

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

D.R. Horton, Inc.

$ 281,637

$ -

$ -

$ 2,734

$ 356,967

Daiichi Kensetsu Corp.

9,650

2,119

-

235

12,598

Daktronics, Inc.

16,132

4,020

1,223

-

19,302

Dataram Corp.

1,254

-

3,310

-

-

DCC PLC (Ireland)

176,375

-

-

2,912

221,138

Decorator Industries, Inc.

144

-

-

-

468

Deepak Fertilisers and Petrochemicals Corp. Ltd.

2,594

2,570

-

-

13,195

Delta Apparel, Inc.

7,264

-

-

-

14,434

Deswell Industries, Inc.

2,542

575

-

89

4,326

Diodes, Inc.

75,409

-

8,836

-

79,444

Ditech Networks, Inc.

4,398

-

1,151

-

4,024

Divestco, Inc.

2,059

5

-

-

3,211

DivX, Inc.

11,664

-

3,186

-

-

Dongyang Engineering & Construction Corp.

1,905

266

-

66

2,622

East West Bancorp, Inc.

49,826

-

9,817

149

-

EcoGreen Fine Chemical Group Ltd.

4,831

4,279

-

32

9,507

Edge Petroleum Corp.

1,189

-

273

-

-

Educational Development Corp.

1,685

81

-

102

2,406

Elematec Corp. (formerly known as Takachiho Electric Co. Ltd.)

14,185

5,288

-

421

20,197

ELMOS Semiconductor AG

2,309

4,561

976

-

9,663

EuroBancshares, Inc.

2,304

-

442

-

-

Exactech, Inc.

10,082

-

157

-

14,322

Excel Co. Ltd.

9,703

-

-

276

12,660

Farstad Shipping ASA

49,128

3,343

-

-

71,029

Federal Screw Works

300

-

-

-

488

First Bancorp, Puerto Rico

22,630

-

-

-

15,476

Food Empire Holdings Ltd.

9,703

1,522

-

-

14,348

Footstar, Inc.

2,036

-

2,074

-

-

Foremost Income Fund

7,797

3,108

-

508

12,747

Fornix Biosciences NV

4,739

112

-

1,986

2,843

Fossil, Inc.

175,455

-

2,524

-

256,740

Fresh Del Monte Produce, Inc.

136,065

98

-

-

132,731

Fujikura Kasei Co., Ltd.

14,194

1,088

-

396

15,228

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Fyffes PLC (Ireland)

$ 542

$ 19,229

$ -

$ 523

$ 15,182

Gennum Corp.

7,186

3,184

-

225

21,388

Gildan Activewear, Inc.

200,895

-

15,759

-

333,615

Glentel, Inc.

8,147

3,057

-

420

14,706

Goodfellow, Inc.

5,950

-

-

423

9,825

Greenbrier Companies, Inc.

15,473

-

-

-

24,013

Group 1 Automotive, Inc.

42,717

-

290

-

44,712

Gulliver International Co. Ltd.

61,705

-

3,412

786

36,942

Halows Co. Ltd.

6,208

1,832

-

117

7,759

Hampshire Group Ltd.

2,530

-

-

-

5,106

Handsome Co. Ltd.

23,610

-

-

417

32,117

Hankook Shell Oil Co. Ltd.

5,465

-

-

1,017

10,945

Hardinge, Inc.

1,221

1,547

-

8

6,063

Health Net, Inc.

89,298

1,597

-

-

147,534

Healthspring, Inc.

33,495

6,285

-

-

56,760

Healthways, Inc.

21,299

528

-

-

27,742

Heartland Payment Systems, Inc.

20,467

8,955

-

73

48,707

Helen of Troy Ltd.

65,565

-

4,939

-

74,855

Henry Boot PLC

13,230

-

-

416

15,850

Hitachi Systems & Services Ltd.

32,157

-

32,076

-

-

Honeys Co. Ltd.

4,447

9,628

-

-

18,770

Honshu Chemical Industry Co., Ltd.

1,741

443

-

63

3,598

Horsehead Holding Corp.

31,001

-

1,777

-

32,670

Hoshiiryou Sanki Co. Ltd.

1,181

732

-

62

4,210

HTL International Holdings Ltd.

3,961

916

-

184

17,391

Hurco Companies, Inc.

12,532

32

-

-

12,532

Hutech Norin Co. Ltd.

8,704

-

-

211

8,600

Hwacheon Machine Tool Co. Ltd.

867

5,059

-

112

8,222

ICT Automatisering NV

5,045

-

-

-

4,995

Ildong Pharmaceutical Co. Ltd.

6,725

5,869

-

-

14,078

Image Sensing Systems, Inc.

-

3,675

-

-

4,725

IMS Health, Inc.

129,000

5,981

242,502

660

-

Innospec, Inc.

25,588

-

483

-

27,951

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Inoue Kinzoku Kogyo Co. Ltd.

$ 5,146

$ -

$ -

$ 82

$ 5,875

Intage, Inc.

17,393

1,133

-

523

19,930

Intelligent Digital Integrated Security Co., Ltd.

9,262

2,902

-

143

14,087

Inter Parfums, Inc.

22,946

-

5,309

266

31,968

Intest Corp.

154

34

-

-

3,006

INTOPS Co. Ltd.

14,523

-

-

246

14,838

INZI Controls Co. Ltd.

4,953

-

-

108

4,477

IPC Holdings Ltd.

89,699

-

97,080

682

-

Isewan Terminal Service Co. Ltd.

7,570

77

-

236

6,774

j2 Global Communications, Inc.

88,810

1,384

-

-

90,633

Jack in the Box, Inc.

138,606

-

-

-

154,503

Jackson Hewitt Tax Service, Inc.

13,008

128

-

-

3,667

JAKKS Pacific, Inc.

32,205

-

-

-

42,707

Jaya Holdings Ltd.

24,076

164

-

-

38,946

JLM Couture, Inc.

112

-

-

-

296

Jos. A. Bank Clothiers, Inc.

66,777

-

-

-

111,070

Jumbo SA

40,342

10,033

-

1,763

55,127

KEC Holdings Co. Ltd.

1,281

-

578

32

2,454

Knoll, Inc.

20,559

25,609

-

234

65,007

Kohsoku Corp.

8,123

2,206

-

232

11,263

Kondotec, Inc.

3,208

3,059

-

194

7,239

Korea Electric Terminal Co. Ltd.

10,505

-

-

100

11,079

KunWha Pharmaceutical Co., Ltd.

3,535

-

-

139

3,737

Kyeryong Construction Industrial Co. Ltd.

12,046

4,061

-

187

12,516

LifePoint Hospitals, Inc.

156,996

-

31,219

-

183,989

Lincare Holdings, Inc.

250,019

-

6,166

-

438,887

M/I Homes, Inc.

23,679

-

-

-

28,133

Maine & Maritimes Corp.

3,625

-

4,004

10

-

MAIR Holdings, Inc.

-*

-

-

-

-*

MarineMax, Inc.

6,700

2,099

-

-

14,445

Maruzen Co., Ltd.

4,077

2,309

-

140

7,313

Mastek Ltd.

-

4,310

-

48

12,424

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

McCormick & Schmick's Seafood Restaurants

$ 8,396

$ 35

$ -

$ -

$ 10,791

Medical Action Industries, Inc.

19,587

2,828

2,348

-

19,343

Melexis NV

23,391

1,123

-

-

38,255

Mesa Laboratories, Inc.

6,985

-

-

102

8,198

Metro, Inc. Class A (sub. vtg.)

341,463

865

-

3,848

482,749

Michang Oil Industrial Co. Ltd.

6,770

-

-

286

7,600

Molina Healthcare, Inc.

29,879

2,617

-

-

42,297

Monarch Casino & Resort, Inc.

10,310

1,299

-

-

15,164

Moog, Inc. Class A

105,143

7,375

12,463

-

-

Motonic Corp.

10,610

7,081

-

355

21,341

Movado Group, Inc.

25,368

-

-

-

22,046

Murakami Corp.

4,228

-

-

97

10,280

Nadex Co. Ltd.

2,864

143

-

62

2,199

National Dentex Corp.

3,817

-

-

-

9,601

NBTY, Inc.

167,426

-

913

-

187,128

NCI Building Systems, Inc.

7,909

-

5,757

-

-

NETGEAR, Inc.

60,119

-

-

-

95,639

New Frontier Media, Inc.

4,094

-

-

-

3,840

Next PLC

285,994

15,460

-

3,181

366,897

Nishimatsuya Chain Co. Ltd.

46,042

20,107

-

1,031

74,066

NN, Inc.

2,638

123

-

-

8,064

North Central Bancshares, Inc.

1,901

8

-

4

2,488

Nutraceutical International Corp.

14,237

-

-

-

17,690

Oil States International, Inc.

135,169

-

-

-

240,782

OM Group, Inc.

74,884

691

-

-

84,862

Omnivision Technologies, Inc.

65,048

-

31,139

-

49,324

Optical Cable Corp.

1,853

-

-

-

1,686

Orbotech Ltd.

26,656

-

-

-

29,645

Oriental Financial Group, Inc.

16,227

2,588

-

133

-

Oriental Watch Holdings Ltd.

1,899

2,848

-

115

5,396

Ozeki Co. Ltd.

33,580

-

46,981

-

-

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

P&F Industries, Inc. Class A

$ 592

$ -

$ -

$ -

$ 848

Pacer International, Inc.

4,526

-

-

-

12,118

Pacific Premier Bancorp, Inc.

526

2,665

-

-

4,670

Pal Co. Ltd.

11,688

4,192

-

257

27,254

Papa John's International, Inc.

69,877

-

-

-

75,349

Parker Corp.

3,621

965

-

66

4,088

Patterson Companies, Inc.

217,335

-

116,122

500

-

Pervasive Software, Inc.

9,355

-

3,311

-

5,727

PetMed Express, Inc.

45,008

2

-

728

53,692

Physicians Formula Holdings, Inc.

1,863

133

-

-

3,626

Piolax, Inc.

16,605

772

-

195

21,133

Plenus Co. Ltd.

37,842

4,808

-

1,184

40,075

Pomeroy IT Solutions, Inc.

7,337

-

7,975

-

-

Prim SA

4,137

11,770

-

77

16,043

Progress Software Corp.

55,444

-

1,457

-

77,399

RCM Technologies, Inc.

2,870

85

-

-

5,343

Red Robin Gourmet Burgers, Inc.

28,121

65

181

-

36,615

RenaissanceRe Holdings Ltd.

155,775

-

-

2,263

173,445

Republic Airways Holdings, Inc.

8,960

4,525

-

-

15,650

ResCare, Inc.

18,744

5,798

-

-

20,236

Rex Stores Corp.

15,400

-

-

-

23,595

Richelieu Hardware Ltd.

20,691

-

17,394

214

-

Rimage Corp.

14,586

1,000

-

-

16,489

Rocky Brands, Inc.

1,880

494

-

-

5,505

Rocky Mountain Chocolate Factory, Inc.

4,807

-

821

178

4,801

Ross Stores, Inc.

275,563

-

-

2,375

350,000

Ruby Tuesday, Inc.

47,663

-

-

-

71,303

Ruth's Hospitality Group, Inc.

5,826

2,152

-

-

12,745

Safeway, Inc.

488,394

-

41,893

7,540

566,400

Sakai Moving Service Co. Ltd.

17,803

-

-

394

16,185

Samsung Climate Control Co. Ltd.

2,014

844

-

7

3,170

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Sanei-International Co. Ltd.

$ 2,738

$ 7,385

$ -

$ 89

$ 16,615

ScanSource, Inc.

65,619

1,625

8,607

-

57,590

Secom Techno Service Co. Ltd.

26,189

8,894

-

1,174

34,922

SED International Holdings, Inc.

384

-

12

-

1,116

Senshu Electric Co. Ltd.

13,812

-

-

216

12,475

Shibaura Electronics Co. Ltd.

5,402

3,455

-

153

9,343

Shinsegae Engineering & Construction Co. Ltd.

3,832

-

-

112

3,831

ShoLodge, Inc.

250

-

-

-

75

Sigmatron International, Inc.

783

-

-

-

2,406

SinoCom Software Group Ltd.

9,038

-

-

-

11,192

SJM Co. Ltd.

1,154

4,903

-

161

7,848

SMART Modular Technologies (WWH), Inc.

18,371

151

-

-

43,526

Softbank Technology Corp.

3,934

983

91

101

5,757

Soken Chemical & Engineer Co. Ltd.

9,964

-

-

283

12,573

Sonic Corp.

66,979

136

-

-

71,255

Spectrum Control, Inc.

11,297

220

175

-

15,986

Sportscene Group, Inc. Class A

3,809

-

-

96

4,842

Stanley Furniture Co., Inc.

11,825

-

1,013

-

9,627

Stantec, Inc.

64,096

-

-

-

64,867

Steiner Leisure Ltd.

53,273

-

1,377

-

77,336

Step Co. Ltd.

2,763

695

-

107

4,349

Strattec Security Corp.

4,970

-

-

-

9,262

Strongco Income Fund

2,504

257

-

-

2,822

Sun Hing Vision Group Holdings Ltd.

1,783

7,710

-

244

10,477

Sunjin Co. Ltd.

5,108

-

-

-

7,525

Super Micro Computer, Inc.

21,636

-

6,437

-

33,037

Swift Energy Co.

60,913

9,204

-

-

126,644

Syneron Medical Ltd.

16,480

10,591

-

-

34,788

SYNNEX Corp.

91,162

5,507

-

-

93,416

Telechips, Inc.

-

11,996

-

60

12,666

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

The Pack Corp.

$ 6,594

$ 14,901

$ -

$ 208

$ 23,490

The PMI Group, Inc.

20,528

21,303

-

-

64,543

Theragenics Corp.

4,131

-

-

-

5,089

Tohoku Steel Co. Ltd.

6,289

-

-

84

5,695

Tokyo Kisen Co. Ltd.

5,316

44

-

151

4,205

Tokyo Tekko Co. Ltd.

-

15,077

-

330

13,957

Tomen Electronics Corp.

17,541

-

-

453

18,272

Total Energy Services, Inc.

10,798

-

1,238

210

25,349

Total System Services, Inc.

202,290

3,306

17,181

2,835

208,140

Tow Co. Ltd.

2,558

4,576

-

173

7,122

Trancom Co. Ltd.

19,915

-

-

384

16,652

Trifast PLC

3,375

219

-

-

3,959

Trio-Tech International

774

-

-

-

1,335

Triple-S Management Corp.

10,372

4,991

-

-

21,266

Tuesday Morning Corp.

8,924

6,904

-

-

20,425

Tungtex Holdings Co. Ltd.

243

1,370

-

68

4,462

Twin Disc, Inc.

3,175

2,395

-

97

8,305

UANGEL Corp.

1,014

5,357

-

105

6,422

UKC Holdings Corp.

-

4,513

-

267

12,955

Uni-Select, Inc.

38,213

8,827

-

561

53,798

Unit Corp.

114,085

-

-

-

171,974

United Stationers, Inc.

60,300

-

3,043

-

76,525

Universal Security Instruments, Inc.

1,291

-

-

-

1,710

Up, Inc.

4,534

-

-

141

4,210

US 1 Industries, Inc.

630

217

-

-

1,320

USEC, Inc.

33,282

-

-

-

51,600

USS Co. Ltd.

131,403

-

5,957

2,936

136,910

Utah Medical Products, Inc.

13,110

-

-

322

12,839

Varitronix International Ltd.

10,975

-

-

42

11,578

Venture Corp. Ltd.

92,899

59,187

-

-

164,537

W Holding Co., Inc.

2,696

-

2,528

-

-

W&T Offshore, Inc.

67,347

724

-

570

60,371

Whanin Pharmaceutical Co. Ltd.

8,605

2,164

-

332

12,401

Winland Electronics, Inc.

246

-

-

-

287

Wireless Telecom Group, Inc.

1,202

-

-

-

1,591

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Wolverine Tube, Inc.

$ 298

$ -

$ 98

$ -

$ -

Workman Co. Ltd.

10,312

6,459

-

488

19,975

XAC Automation Corp.

982

1,494

-

-

5,746

Xyratex Ltd.

17,339

-

-

-

51,461

Yip's Chemical Holdings Ltd.

17,631

1,346

-

1,228

34,331

Young Innovations, Inc.

20,825

548

1,312

95

19,910

Youngone Holdings Co. Ltd.

427

17,129

-

238

25,055

Yusen Air & Sea Service Co. Ltd.

51,282

2,192

-

670

64,089

Yutaka Giken Co. Ltd.

15,251

3,234

-

369

35,846

Total

$ 10,930,058

$ 835,563

$ 1,276,246

$ 87,079

$ 12,941,524

* Amount represents less than $1,000.

Other Information

The following is a summary of the inputs used, as of April 30, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 7,797,676

$ 6,553,528

$ 1,236,300

$ 7,848

Consumer Staples

2,518,687

2,225,991

292,696

-

Energy

2,038,142

1,450,789

587,353

-

Financials

2,779,000

2,575,101

203,746

153

Health Care

3,983,685

3,866,488

117,197

-

Industrials

2,548,040

1,847,980

699,985

75

Information Technology

4,911,238

3,343,864

1,567,374

-

Materials

1,406,000

1,086,037

319,963

-

Telecommunication Services

109,456

109,456

-

-

Utilities

142,727

130,710

12,017

-

Corporate Bonds

45,224

-

45,224

-

Money Market Funds

3,573,665

3,573,665

-

-

Total Investments in Securities:

$ 31,853,540

$ 26,763,609

$ 5,081,855

$ 8,076

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

(Amounts in thousands)

 

Investments in Securities:

Beginning Balance

$ 435

Total Realized Gain (Loss)

(330)

Total Unrealized Gain (Loss)

(4,916)

Cost of Purchases

4,903

Proceeds of Sales

-

Amortization/Accretion

-

Transfers in to Level 3

7,984

Transfers out of Level 3

-

Ending Balance

$ 8,076

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at April 30, 2010

$ (5,228)

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

Income Tax Information

At April 30, 2010, the cost of investment securities for income tax purposes was $23,609,138,000. Net unrealized appreciation aggregated $8,244,402,000, of which $10,442,835,000 related to appreciated investment securities and $2,198,433,000 related to depreciated investment securities.

Investment Valuation

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

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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

Quarterly Report

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

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

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Value Discovery Fund -
Fidelity Value Discovery
Class K

April 30, 2010 

1.800366.106

FVD-QTLY-0610

Investments April 30, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.4%

Shares

Value

CONSUMER DISCRETIONARY - 14.1%

Auto Components - 0.6%

Johnson Controls, Inc.

33,800

$ 1,135,342

Modine Manufacturing Co. (a)

149,200

2,090,292

Tenneco, Inc. (a)

49,100

1,265,307

 

4,490,941

Automobiles - 0.3%

Bayerische Motoren Werke AG (BMW)

48,073

2,364,956

Diversified Consumer Services - 0.4%

Career Education Corp. (a)

11,300

330,751

Regis Corp.

139,500

2,667,240

 

2,997,991

Hotels, Restaurants & Leisure - 1.0%

McDonald's Corp.

17,100

1,207,089

Starwood Hotels & Resorts Worldwide, Inc.

45,400

2,474,754

WMS Industries, Inc. (a)

29,700

1,485,594

Wyndham Worldwide Corp.

71,600

1,919,596

 

7,087,033

Household Durables - 5.8%

D.R. Horton, Inc.

195,470

2,871,454

KB Home

570,809

10,577,091

La-Z-Boy, Inc. (a)

31,400

409,456

Lennar Corp. Class A

272,400

5,420,760

M/I Homes, Inc. (a)

107,500

1,677,000

Pulte Group, Inc. (a)

714,162

9,348,381

Ryland Group, Inc.

193,800

4,414,764

Stanley Black & Decker, Inc.

124,690

7,749,484

 

42,468,390

Media - 2.6%

Cablevision Systems Corp. - NY Group Class A

34,500

946,680

McGraw-Hill Companies, Inc.

69,100

2,330,052

The Walt Disney Co.

199,300

7,342,212

Time Warner Cable, Inc.

64,900

3,650,625

Virgin Media, Inc.

287,190

5,051,672

 

19,321,241

Multiline Retail - 0.7%

Target Corp.

88,300

5,021,621

Specialty Retail - 1.5%

Advance Auto Parts, Inc.

49,300

2,223,430

Best Buy Co., Inc.

51,400

2,343,840

Group 1 Automotive, Inc. (a)

22,400

695,520

Common Stocks - continued

Shares

Value

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Gymboree Corp. (a)

49,800

$ 2,446,674

Staples, Inc.

131,300

3,089,489

 

10,798,953

Textiles, Apparel & Luxury Goods - 1.2%

Polo Ralph Lauren Corp. Class A

51,700

4,647,830

VF Corp.

45,100

3,897,542

 

8,545,372

TOTAL CONSUMER DISCRETIONARY

103,096,498

CONSUMER STAPLES - 3.4%

Beverages - 0.6%

Dr Pepper Snapple Group, Inc.

121,700

3,983,241

Food & Staples Retailing - 1.2%

CVS Caremark Corp.

62,400

2,304,432

Kroger Co.

61,700

1,371,591

Safeway, Inc.

78,600

1,854,960

Wal-Mart Stores, Inc.

58,500

3,138,525

 

8,669,508

Food Products - 0.5%

Ralcorp Holdings, Inc. (a)

59,000

3,926,450

Household Products - 0.7%

Procter & Gamble Co.

85,100

5,289,816

Personal Products - 0.4%

Avon Products, Inc.

73,200

2,366,556

USANA Health Sciences, Inc. (a)(d)

11,300

409,625

 

2,776,181

TOTAL CONSUMER STAPLES

24,645,196

ENERGY - 14.0%

Energy Equipment & Services - 3.6%

Baker Hughes, Inc.

92,200

4,587,872

Ensco International Ltd. ADR

79,700

3,760,246

National Oilwell Varco, Inc.

112,100

4,935,763

Pride International, Inc. (a)

111,232

3,373,667

Schlumberger Ltd.

115,640

8,259,009

Transocean Ltd. (a)

19,400

1,405,530

 

26,322,087

Common Stocks - continued

Shares

Value

ENERGY - continued

Oil, Gas & Consumable Fuels - 10.4%

Cabot Oil & Gas Corp.

160,000

$ 5,780,800

Chesapeake Energy Corp.

135,600

3,227,280

Exxon Mobil Corp.

228,406

15,497,347

Frontier Oil Corp.

62,000

942,400

Marathon Oil Corp.

193,800

6,230,670

Occidental Petroleum Corp.

108,300

9,601,878

Plains Exploration & Production Co. (a)

74,800

2,192,388

Royal Dutch Shell PLC:

Class A sponsored ADR

184,600

11,583,650

Class B ADR

214,700

13,027,996

Southwestern Energy Co. (a)

143,800

5,705,984

Suncor Energy, Inc.

50,560

1,728,951

 

75,519,344

TOTAL ENERGY

101,841,431

FINANCIALS - 22.8%

Capital Markets - 2.3%

Bank of New York Mellon Corp.

127,600

3,972,188

Franklin Resources, Inc.

9,400

1,087,016

Morgan Stanley

362,600

10,957,772

TD Ameritrade Holding Corp. (a)

53,800

1,077,076

 

17,094,052

Commercial Banks - 6.0%

BB&T Corp.

109,900

3,653,076

National Penn Bancshares, Inc.

119,300

873,276

PNC Financial Services Group, Inc.

83,200

5,591,872

Regions Financial Corp.

189,910

1,678,804

Southwest Bancorp, Inc., Oklahoma

38,809

568,940

SunTrust Banks, Inc.

86,100

2,548,560

SVB Financial Group (a)

27,215

1,339,794

U.S. Bancorp, Delaware

260,100

6,962,877

Wells Fargo & Co.

546,672

18,100,310

Wilmington Trust Corp., Delaware

105,200

1,823,116

Wilshire Bancorp, Inc.

64,216

697,386

 

43,838,011

Consumer Finance - 1.7%

American Express Co.

176,500

8,140,180

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Consumer Finance - continued

Capital One Financial Corp.

53,700

$ 2,331,117

Discover Financial Services

117,800

1,821,188

 

12,292,485

Diversified Financial Services - 6.6%

Bank of America Corp.

1,111,917

19,825,480

Citigroup, Inc. (a)

2,106,500

9,205,405

JPMorgan Chase & Co.

444,290

18,917,868

 

47,948,753

Insurance - 3.1%

Assured Guaranty Ltd.

64,100

1,381,355

Delphi Financial Group, Inc. Class A

90,300

2,483,250

Everest Re Group Ltd.

39,300

3,012,345

Lincoln National Corp.

152,984

4,679,781

Platinum Underwriters Holdings Ltd.

94,100

3,501,461

Unum Group

141,300

3,457,611

XL Capital Ltd. Class A

219,200

3,901,760

 

22,417,563

Real Estate Investment Trusts - 1.2%

CBL & Associates Properties, Inc.

247,603

3,615,004

Public Storage

19,900

1,928,509

The Macerich Co. (d)

83,160

3,718,084

 

9,261,597

Real Estate Management & Development - 1.9%

CB Richard Ellis Group, Inc. Class A (a)

481,700

8,343,044

Jones Lang LaSalle, Inc.

40,800

3,218,304

The St. Joe Co. (a)(d)

70,800

2,339,232

 

13,900,580

TOTAL FINANCIALS

166,753,041

HEALTH CARE - 8.4%

Biotechnology - 1.1%

Amgen, Inc. (a)

18,691

1,072,116

ARIAD Pharmaceuticals, Inc. (a)

203,100

714,912

Biogen Idec, Inc. (a)

23,300

1,240,725

BioMarin Pharmaceutical, Inc. (a)

38,000

888,060

Genzyme Corp. (a)

13,200

702,768

Keryx Biopharmaceuticals, Inc. (a)

159,400

895,828

NPS Pharmaceuticals, Inc. (a)

54,854

382,332

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Biotechnology - continued

SIGA Technologies, Inc. (a)

27,778

$ 190,835

United Therapeutics Corp. (a)

22,800

1,297,092

ZIOPHARM Oncology, Inc. (a)

131,199

776,698

 

8,161,366

Health Care Equipment & Supplies - 1.4%

Abiomed, Inc. (a)

68,494

660,282

AGA Medical Holdings, Inc.

48,400

778,272

Cooper Companies, Inc.

34,200

1,330,038

Covidien PLC

85,075

4,082,749

ev3, Inc. (a)

58,400

1,117,192

Micrus Endovascular Corp. (a)

48,100

965,848

Stryker Corp.

12,700

729,488

Wright Medical Group, Inc. (a)

42,100

790,638

 

10,454,507

Health Care Providers & Services - 1.5%

Aetna, Inc.

56,400

1,666,620

CIGNA Corp.

97,600

3,129,056

Emeritus Corp. (a)

65,050

1,457,120

Medco Health Solutions, Inc. (a)

65,181

3,840,465

RehabCare Group, Inc. (a)

13,900

396,428

 

10,489,689

Life Sciences Tools & Services - 0.5%

Covance, Inc. (a)

13,100

748,534

PAREXEL International Corp. (a)

64,700

1,525,626

PerkinElmer, Inc.

59,400

1,487,970

 

3,762,130

Pharmaceuticals - 3.9%

Ardea Biosciences, Inc. (a)

54,600

1,386,840

Cadence Pharmaceuticals, Inc. (a)

74,400

729,120

Cardiome Pharma Corp. (a)

45,640

384,899

Johnson & Johnson

21,300

1,369,590

Merck & Co., Inc.

218,200

7,645,728

Optimer Pharmaceuticals, Inc. (a)(d)

62,400

768,144

Pfizer, Inc.

807,800

13,506,416

Teva Pharmaceutical Industries Ltd. sponsored ADR

44,900

2,636,977

 

28,427,714

TOTAL HEALTH CARE

61,295,406

Common Stocks - continued

Shares

Value

INDUSTRIALS - 11.8%

Aerospace & Defense - 1.5%

Goodrich Corp.

30,100

$ 2,232,818

Precision Castparts Corp.

16,300

2,091,942

United Technologies Corp.

91,600

6,865,420

 

11,190,180

Airlines - 0.5%

AMR Corp. (a)

74,900

552,762

Southwest Airlines Co.

187,494

2,471,171

UAL Corp. (a)

38,200

824,356

 

3,848,289

Building Products - 1.8%

Masco Corp.

248,623

4,035,151

Owens Corning (a)

256,296

8,913,975

 

12,949,126

Commercial Services & Supplies - 0.1%

The Geo Group, Inc. (a)

35,900

760,362

Construction & Engineering - 0.1%

KBR, Inc.

41,500

916,320

Electrical Equipment - 1.1%

EnerSys (a)

29,700

768,636

Regal-Beloit Corp.

110,596

6,997,409

 

7,766,045

Industrial Conglomerates - 1.9%

General Electric Co.

715,088

13,486,560

Machinery - 1.6%

Cummins, Inc.

74,400

5,373,912

Danaher Corp.

51,400

4,331,992

Timken Co.

57,000

2,005,260

 

11,711,164

Marine - 0.1%

Alexander & Baldwin, Inc.

10,500

373,590

Professional Services - 0.5%

Equifax, Inc.

40,800

1,370,880

Manpower, Inc.

38,200

2,143,020

 

3,513,900

Road & Rail - 2.6%

Arkansas Best Corp.

104,200

3,173,932

Con-way, Inc.

41,600

1,615,744

Common Stocks - continued

Shares

Value

INDUSTRIALS - continued

Road & Rail - continued

CSX Corp.

110,800

$ 6,210,340

Union Pacific Corp.

109,400

8,277,204

 

19,277,220

TOTAL INDUSTRIALS

85,792,756

INFORMATION TECHNOLOGY - 13.3%

Communications Equipment - 1.9%

Adtran, Inc.

134,900

3,611,273

Cisco Systems, Inc. (a)

150,278

4,045,484

Juniper Networks, Inc. (a)

129,900

3,690,459

QUALCOMM, Inc.

70,800

2,742,792

 

14,090,008

Computers & Peripherals - 1.4%

Dell, Inc. (a)

231,100

3,739,198

Hewlett-Packard Co.

123,400

6,413,098

 

10,152,296

Electronic Equipment & Components - 3.4%

Amphenol Corp. Class A

56,714

2,620,754

Arrow Electronics, Inc. (a)

139,100

4,242,550

Avnet, Inc. (a)

147,600

4,718,772

Flextronics International Ltd. (a)

232,500

1,801,875

Ingram Micro, Inc. Class A (a)

179,300

3,256,088

Itron, Inc. (a)

33,632

2,677,444

Tyco Electronics Ltd.

162,000

5,203,440

 

24,520,923

IT Services - 1.2%

Fidelity National Information Services, Inc.

91,300

2,400,277

Fiserv, Inc. (a)

28,000

1,430,520

Hewitt Associates, Inc. Class A (a)

35,064

1,437,273

MasterCard, Inc. Class A

14,000

3,472,560

 

8,740,630

Semiconductors & Semiconductor Equipment - 4.6%

ASML Holding NV (NY Shares)

56,200

1,835,492

Avago Technologies Ltd.

72,300

1,483,596

Intel Corp.

293,828

6,708,093

KLA-Tencor Corp.

68,620

2,337,197

Lam Research Corp. (a)

89,900

3,645,445

Marvell Technology Group Ltd. (a)

44,800

925,120

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Micron Technology, Inc. (a)

504,200

$ 4,714,270

Omnivision Technologies, Inc. (a)

43,000

755,080

ON Semiconductor Corp. (a)

892,650

7,087,641

Standard Microsystems Corp. (a)

57,478

1,476,035

Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR

36

381

Teradyne, Inc. (a)

226,000

2,763,980

 

33,732,330

Software - 0.8%

Microsoft Corp.

136,100

4,156,494

Oracle Corp.

70,783

1,829,033

 

5,985,527

TOTAL INFORMATION TECHNOLOGY

97,221,714

MATERIALS - 5.3%

Chemicals - 3.0%

Air Products & Chemicals, Inc.

15,400

1,182,412

Albemarle Corp.

112,964

5,157,936

Celanese Corp. Class A

108,499

3,470,883

CF Industries Holdings, Inc.

8,200

686,094

Clariant AG (Reg.) (a)

122,220

1,686,371

Dow Chemical Co.

190,900

5,885,447

Solutia, Inc. (a)

206,400

3,632,640

Symrise AG

15,500

393,481

 

22,095,264

Containers & Packaging - 0.5%

Ball Corp.

25,200

1,340,892

Owens-Illinois, Inc. (a)

73,500

2,604,840

 

3,945,732

Metals & Mining - 0.7%

Carpenter Technology Corp.

42,700

1,676,829

Goldcorp, Inc.

25,100

1,084,571

Newcrest Mining Ltd.

35,628

1,075,165

Newmont Mining Corp.

18,800

1,054,304

 

4,890,869

Paper & Forest Products - 1.1%

Weyerhaeuser Co.

159,300

7,888,536

TOTAL MATERIALS

38,820,401

Common Stocks - continued

Shares

Value

TELECOMMUNICATION SERVICES - 2.4%

Diversified Telecommunication Services - 1.3%

AboveNet, Inc. (a)

74,353

$ 3,757,801

Cbeyond, Inc. (a)

147,422

2,267,350

China Unicom (Hong Kong) Ltd. sponsored ADR (d)

70,400

875,072

Iliad Group SA

7,493

749,274

Qwest Communications International, Inc.

417,200

2,181,956

 

9,831,453

Wireless Telecommunication Services - 1.1%

Leap Wireless International, Inc. (a)

1,500

27,480

SBA Communications Corp. Class A (a)

50,300

1,779,111

Sprint Nextel Corp. (a)

1,374,300

5,840,775

 

7,647,366

TOTAL TELECOMMUNICATION SERVICES

17,478,819

UTILITIES - 2.9%

Electric Utilities - 1.4%

American Electric Power Co., Inc.

88,700

3,042,410

Entergy Corp.

54,200

4,405,918

FirstEnergy Corp.

73,700

2,791,019

 

10,239,347

Independent Power Producers & Energy Traders - 1.0%

Calpine Corp. (a)

181,800

2,477,934

Constellation Energy Group, Inc.

138,600

4,899,510

 

7,377,444

Multi-Utilities - 0.5%

Alliant Energy Corp.

102,100

3,491,820

TOTAL UTILITIES

21,108,611

TOTAL COMMON STOCKS

(Cost $628,410,795)

718,053,873

Money Market Funds - 1.7%

Shares

Value

Fidelity Cash Central Fund, 0.21% (b)

10,364,033

$ 10,364,033

Fidelity Securities Lending Cash Central Fund, 0.22% (b)(c)

2,122,247

2,122,247

TOTAL MONEY MARKET FUNDS

(Cost $12,486,280)

12,486,280

TOTAL INVESTMENT PORTFOLIO - 100.1%

(Cost $640,897,075)

730,540,153

NET OTHER ASSETS - (0.1)%

(1,079,064)

NET ASSETS - 100%

$ 729,461,089

Legend

(a) Non-income producing

(b) Affiliated fund that is available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request.

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

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

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

$ 2,959

Fidelity Securities Lending Cash Central Fund

20,090

Total

$ 23,049

Other Information

The following is a summary of the inputs used, as of April 30, 2010, involving the Fund's assets and liabilities carried at 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

$ 103,096,498

$ 100,731,542

$ 2,364,956

$ -

Consumer Staples

24,645,196

24,645,196

-

-

Energy

101,841,431

101,841,431

-

-

Financials

166,753,041

166,753,041

-

-

Health Care

61,295,406

61,295,406

-

-

Industrials

85,792,756

85,792,756

-

-

Information Technology

97,221,714

97,221,714

-

-

Materials

38,820,401

35,665,384

3,155,017

-

Telecommunication Services

17,478,819

16,729,545

749,274

-

Utilities

21,108,611

21,108,611

-

-

Money Market Funds

12,486,280

12,486,280

-

-

Total Investments in Securities:

$ 730,540,153

$ 724,270,906

$ 6,269,247

$ -

Income Tax Information

At April 30, 2010, the cost of investment securities for income tax purposes was $659,807,984. Net unrealized appreciation aggregated $70,732,169, of which $102,117,532 related to appreciated investment securities and $31,385,363 related to depreciated investment securities.

Investment Valuation

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

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

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

Quarterly Report

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

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

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Puritan 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 Puritan Trust

By:

/s/Kenneth B. Robins

 

Kenneth B. Robins

 

President and Treasurer

 

 

Date:

June 29, 2010

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 29, 2010

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

June 29, 2010