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:

October 31, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

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

October 31, 2010 

1.809099.106

LPS-QTLY-1210

Investments October 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 89.3%

Shares

Value (000s)

CONSUMER DISCRETIONARY - 24.8%

Auto Components - 1.7%

ASTI Corp. (e)

1,683,000

$ 4,538

Drew Industries, Inc. (a)

650,000

13,696

FCC Co. Ltd.

500,000

10,731

Federal Screw Works (a)(e)

150,000

555

Hi-Lex Corp.

1,150,000

14,348

INZI Controls Co. Ltd. (e)

1,516,000

8,197

Johnson Controls, Inc.

7,000,000

245,840

Motonic Corp. (e)

3,299,900

28,436

Murakami Corp. (e)

700,000

7,168

Musashi Seimitsu Industry Co. Ltd.

900,000

21,440

Nippon Seiki Co. Ltd.

2,335,000

23,649

Nissin Kogyo Co. Ltd.

1,100,000

18,673

Nittan Valve Co. Ltd.

360,000

1,141

Piolax, Inc. (e)

1,010,000

20,233

Samsung Climate Control Co. Ltd. (e)

460,050

3,252

Semperit AG Holding

800,000

35,065

Sewon Precision Industries Co. Ltd.

49,860

6,119

Shoei Co. Ltd.

600,000

5,436

SJM Co. Ltd. (a)(e)

724,215

4,399

SJM Holdings Co. Ltd. (e)

1,050,784

4,485

Strattec Security Corp. (e)

342,788

10,493

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

200,000

1,088

Yachiyo Industry Co. Ltd.

650,000

4,628

Yutaka Giken Co. Ltd. (e)

1,390,100

29,333

 

522,943

Distributors - 0.3%

Dong Suh Companies, Inc.

350,000

12,761

Doshisha Co. Ltd.

550,000

13,424

Educational Development Corp. (e)

386,892

2,329

Goodfellow, Inc. (e)

857,000

9,747

SPK Corp.

165,000

2,221

Uni-Select, Inc. (e)

1,972,100

51,415

 

91,897

Diversified Consumer Services - 0.7%

Career Education Corp. (a)(d)(e)

4,650,000

81,561

Clip Corp. (e)

328,000

2,853

Corinthian Colleges, Inc. (a)(d)

800,000

4,176

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

2,170,050

2,148

Kyoshin Co. Ltd. (a)

130,000

212

Matthews International Corp. Class A

25,000

826

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Diversified Consumer Services - continued

Meiko Network Japan Co. Ltd.

730,000

$ 6,087

Noah Education Holdings Ltd. ADR (a)(d)

384,850

758

Regis Corp.

1,368,799

27,992

Shingakukai Co. Ltd.

200,000

631

Shuei Yobiko Co. Ltd.

125,000

537

Steiner Leisure Ltd. (a)(e)

1,650,000

63,971

Step Co. Ltd. (e)

900,000

4,809

Up, Inc. (e)

750,000

5,126

Weight Watchers International, Inc.

600,000

20,094

YBM Sisa.com, Inc.

810,000

5,950

 

227,731

Hotels, Restaurants & Leisure - 3.1%

Aeon Fantasy Co. Ltd.

500,000

5,132

Ambassadors Group, Inc.

850,012

9,427

ARK Restaurants Corp. (e)

348,804

5,093

Benihana, Inc. (a)(e)

649,955

5,408

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

551,386

4,648

Brinker International, Inc. (e)

10,250,000

190,035

CEC Entertainment, Inc. (a)(e)

2,175,046

72,212

Darden Restaurants, Inc.

2,500,000

114,275

Flanigan's Enterprises, Inc. (a)

50,357

346

Flight Centre Ltd.

700,000

15,649

Hiday Hidaka Corp.

244,800

3,781

Holidaybreak PLC

3,000,034

14,179

Ibersol SGPS SA

265,332

3,027

Intralot SA

1,000,000

4,369

Jack in the Box, Inc. (a)(e)

6,569,000

152,138

Kangwon Land, Inc.

125,000

2,940

Kura Corp. Ltd.

330,000

5,257

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

1,049,195

9,369

Monarch Casino & Resort, Inc. (a)(e)

1,300,000

15,015

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

2,749,964

71,032

Plenus Co. Ltd. (e)

2,826,600

40,817

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

1,532,953

31,119

Ruby Tuesday, Inc. (a)(e)

6,372,030

77,102

Ruth's Hospitality Group, Inc. (a)(e)

2,347,228

10,703

Sonic Corp. (a)(e)

6,163,000

54,727

Sportscene Group, Inc. Class A (e)

400,000

5,197

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Hotels, Restaurants & Leisure - continued

St. Marc Holdings Co. Ltd.

480,000

$ 16,940

Tabcorp Holdings Ltd. (g)

1,933,333

13,978

 

953,915

Household Durables - 2.8%

Abbey PLC (e)

3,400,000

20,580

Barratt Developments PLC (a)(e)

84,000,199

105,108

Bellway PLC (e)

7,525,000

64,380

Blyth, Inc. (e)

888,900

35,663

Chromcraft Revington, Inc. (a)

217,146

419

Craftmade International, Inc. (a)(e)

570,026

3,050

D.R. Horton, Inc. (e)

24,300,000

253,692

Decorator Industries, Inc. (a)

125,765

169

Dixie Group, Inc. (a)

50,000

182

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

2,725,000

91,858

Emak SpA

466,272

2,890

Ethan Allen Interiors, Inc.

431,515

6,546

First Juken Co. Ltd. (e)

938,600

7,442

Harman International Industries, Inc. (a)

50,000

1,678

Helen of Troy Ltd. (a)(e)

2,850,000

73,103

Henry Boot PLC (e)

10,774,000

15,363

HTL International Holdings Ltd. (e)

29,655,500

15,810

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

1,001,800

16,481

M/I Homes, Inc. (a)(e)

1,803,400

19,080

Maruzen Co., Ltd. (e)

1,450,000

8,019

P&F Industries, Inc. Class A (a)(e)

361,038

726

Sanei Architecture Planning Co. Ltd.

49,200

1,339

Schulthess Group AG

65,000

2,473

Sjaelso Gruppen AS (a)

10,000

15

Stanley Furniture Co., Inc. (a)(e)

975,354

3,765

Steinhoff International Holdings Ltd.

2,650,000

8,323

Tempur-Pedic International, Inc. (a)

2,000,000

69,000

Token Corp. (e)

915,660

28,129

 

855,283

Internet & Catalog Retail - 0.2%

Belluna Co. Ltd. (e)

5,100,000

24,274

PetMed Express, Inc. (d)(e)

2,425,100

37,468

 

61,742

Leisure Equipment & Products - 0.4%

Accell Group NV

69,500

3,573

Aldila, Inc. (a)

10,000

43

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Leisure Equipment & Products - continued

Arctic Cat, Inc. (a)(e)

1,220,380

$ 16,243

Brunswick Corp.

250,000

3,955

Daikoku Denki Co. Ltd.

40,000

452

Giant Manufacturing Co. Ltd.

4,898,555

19,287

JAKKS Pacific, Inc. (a)(d)(e)

2,793,139

52,651

Marine Products Corp. (a)

1,323,829

8,221

Mars Engineering Corp.

60,000

945

Miroku Corp.

300,000

544

Trigano SA (a)

150,000

3,861

 

109,775

Media - 1.1%

Ascent Media Corp. (a)

500,000

13,620

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

2,750,000

110,280

Carrere Group (a)

55,000

0

Chime Communications PLC (e)

4,500,000

14,996

DISH Network Corp. Class A

750,000

14,895

GFK AG

175,000

7,388

Harte-Hanks, Inc.

1,700,877

20,547

Intage, Inc. (e)

1,040,000

20,691

New Frontier Media, Inc. (a)(e)

1,949,400

3,392

Omnicom Group, Inc.

2,000,000

87,920

Proto Corp.

113,300

4,611

Recruit Holdings Ltd.

4,536,000

1,094

Saga Communications, Inc. Class A (a)

375,077

7,513

STW Group Ltd.

3,000,000

2,821

Tow Co. Ltd. (e)

1,223,000

6,991

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

2,000,400

25,027

 

341,786

Multiline Retail - 2.3%

Dollar Tree, Inc. (a)

2,250,000

115,448

Don Quijote Co. Ltd.

3,100,000

84,714

Harvey Norman Holdings Ltd. (d)

21,250,000

69,322

Izumi Co. Ltd.

30,000

396

Next PLC (e)

11,825,000

432,903

Tuesday Morning Corp. (a)(e)

3,618,016

17,330

Zakkaya Bulldog Co. Ltd.

335,000

733

 

720,846

Specialty Retail - 8.6%

ABC-Mart, Inc.

35,000

1,190

Abercrombie & Fitch Co. Class A (e)

8,750,000

375,025

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Aeropostale, Inc. (a)

3,150,000

$ 76,797

American Eagle Outfitters, Inc.

100,000

1,601

AT-Group Co. Ltd.

225,000

2,265

AutoZone, Inc. (a)

900,000

213,867

bebe Stores, Inc.

1,300,000

8,528

Bed Bath & Beyond, Inc. (a)

6,600,000

289,740

Best Buy Co., Inc.

1,000,000

42,980

Big 5 Sporting Goods Corp.

645,007

8,720

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

5,969,600

137,022

Brown Shoe Co., Inc.

1,100,000

12,925

Camaieu SA

7,000

1,581

Christopher & Banks Corp.

110,070

656

Fantastic Holdings Ltd.

25,000

55

Ford Glory Group Holdings Ltd.

812,832

98

Fourlis Holdings SA

250,000

2,390

GameStop Corp. Class A (a)(d)

7,400,000

145,484

Glentel, Inc. (e)

990,000

21,840

Group 1 Automotive, Inc. (a)(d)(e)

1,800,000

63,468

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

1,000,000

48,838

Honeys Co. Ltd. (d)(e)

1,650,000

22,904

Hot Topic, Inc.

1,650,000

9,455

I A Group Corp.

335,000

1,982

Jos. A. Bank Clothiers, Inc. (a)(e)

2,737,500

119,355

Jumbo SA (e)

7,500,000

57,710

K'S Denki Corp.

2,300,000

57,193

Kyoto Kimono Yuzen Co. Ltd. (e)

1,138,500

12,380

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

2,008,566

24,617

Leon's Furniture Ltd.

875,000

11,754

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

2,236,050

24,373

Macintosh Retail Group NV

150,000

3,423

MarineMax, Inc. (a)(e)

1,425,335

10,662

Mr. Bricolage SA (e)

610,492

12,479

Nafco Co. Ltd.

1,175,000

19,216

Nishimatsuya Chain Co. Ltd. (e)

6,958,800

67,020

Oriental Watch Holdings Ltd. (e)

21,586,400

11,167

Pal Co. Ltd. (e)

800,000

23,363

Point, Inc.

25,000

1,045

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

100,000

1,920

Right On Co. Ltd.

610,000

2,570

RONA, Inc. (a)

450,000

5,736

Ross Stores, Inc. (e)

6,250,000

368,688

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

SAZABY, Inc.

600,000

$ 11,184

Second Chance Properties Ltd.

9,000,000

3,025

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

3,062,500

71

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

3,028,822

33,075

Super Cheap Auto Group Ltd.

56,157

367

The Buckle, Inc. (d)

1,000,000

29,090

The Men's Wearhouse, Inc. (e)

3,200,000

78,208

USS Co. Ltd. (e)

2,000,000

155,586

West Marine, Inc. (a)

230,000

2,256

Williams-Sonoma, Inc.

700,045

22,660

Workman Co. Ltd. (e)

1,382,000

22,653

 

2,682,257

Textiles, Apparel & Luxury Goods - 3.6%

Adolfo Dominguez SA

350,000

4,661

Arts Optical International Holdings Ltd. (e)

20,502,000

8,781

Bijou Brigitte Modische Accessoires AG

45,000

7,258

Carter's, Inc. (a)

10,000

249

Cherokee, Inc. (d)

219,994

4,065

Delta Apparel, Inc. (a)(e)

852,200

11,010

Folli Follie SA (e)

2,200,000

53,571

Fossil, Inc. (a)(e)

6,300,000

371,637

Geox SpA (d)

500,000

3,006

Gildan Activewear, Inc. (a)(e)

11,300,000

325,627

Hampshire Group Ltd. (a)(e)

920,000

3,680

Handsome Co. Ltd. (e)

2,436,150

35,421

JLM Couture, Inc. (a)(e)

197,100

296

K-Swiss, Inc. Class A (a)

2,709,606

32,949

Liz Claiborne, Inc. (a)

1,375,000

8,415

Marimekko Oyj

125,000

2,209

Movado Group, Inc. (a)(e)

1,804,500

20,283

Quiksilver, Inc. (a)

2,000,000

8,340

Rocky Brands, Inc. (a)(e)

739,986

6,786

Sanei-International Co. Ltd. (e)

1,250,000

16,000

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

1,200,000

23,328

Sun Hing Vision Group Holdings Ltd. (e)

23,938,000

10,500

Ted Baker PLC

250,000

2,463

Texwinca Holdings Ltd.

45,000,000

49,115

Timberland Co. Class A (a)

1,000,000

20,980

Tungtex Holdings Co. Ltd. (e)

22,000,000

4,002

Van de Velde

75,000

3,924

Common Stocks - continued

Shares

Value (000s)

CONSUMER DISCRETIONARY - continued

Textiles, Apparel & Luxury Goods - continued

Victory City International Holdings Ltd.

45,390,828

$ 11,478

Volcom, Inc. (d)

423,656

7,274

Youngone Corp.

350,000

3,424

Youngone Holdings Co. Ltd. (e)

850,000

24,604

Yue Yuen Industrial (Holdings) Ltd.

7,000,000

25,106

 

1,110,442

TOTAL CONSUMER DISCRETIONARY

7,678,617

CONSUMER STAPLES - 8.1%

Beverages - 1.0%

Baron de Ley SA (a)

219,063

13,595

C&C Group PLC

1,211,285

5,613

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

10,800,000

213,084

Hansen Natural Corp. (a)

1,500,000

76,815

Hite Holdings Co. Ltd.

20,000

378

Muhak Co. Ltd.

50,000

290

 

309,775

Food & Staples Retailing - 5.3%

Aoki Super Co. Ltd.

75,000

662

Belc Co. Ltd. (e)

2,086,000

21,905

Cawachi Ltd.

5,000

88

Cosmos Pharmaceutical Corp. (e)

1,830,000

57,604

Create SD Holdings Co. Ltd. (e)

2,075,000

45,254

CVS Caremark Corp.

2,850,000

85,842

Daikokutenbussan Co. Ltd.

550,000

19,274

Fyffes PLC (Ireland) (e)

33,000,000

14,005

Growell Holdings Co. Ltd.

309,989

7,616

Halows Co. Ltd. (e)

1,278,500

10,407

Ingles Markets, Inc. Class A

729,860

13,400

Kroger Co.

400,000

8,800

Kusuri No Aoki Co. Ltd.

110,000

1,114

Majestic Wine PLC

450,016

2,632

Marukyu Co. Ltd.

5,000

49

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

10,925,833

501,352

North West Co. Fund

800,000

16,221

Safeway, Inc.

17,000,000

389,300

San-A Co. Ltd.

375,000

14,959

Shinsegae Food Co. Ltd.

17,000

1,365

Shoppers Drug Mart Corp. (d)

5,000,000

190,215

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Food & Staples Retailing - continued

Sligro Food Group NV

1,805,000

$ 59,097

Sundrug Co. Ltd. (d)

1,400,000

38,971

Village Super Market, Inc. Class A

161,104

4,704

Walgreen Co.

4,000,012

135,520

Yaoko Co. Ltd.

620,000

16,981

 

1,657,337

Food Products - 1.5%

ARYZTA AG

1,850,000

82,036

Dean Foods Co. (a)

3,500,000

36,400

Dutch Lady Milk Industries Bhd

350,000

2,016

Food Empire Holdings Ltd. (e)

52,900,000

16,962

Fresh Del Monte Produce, Inc. (a)(e)

6,359,900

140,745

Global Bio-Chem Technology Group Co. Ltd. (a)

80,009,253

13,006

Greggs PLC

800,000

5,874

Industrias Bachoco SA de CV sponsored ADR

2,300,000

48,829

Nam Yang Dairy Products

11,000

6,045

Pacific Andes (Holdings) Ltd.

79,002,488

20,448

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

7,208,695

641

Pacific Andes International Holdings Ltd.

53,070,629

9,243

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

9,600,000

89

People's Food Holdings Ltd.

45,849,000

24,797

President Rice Products PCL

100,000

822

Robert Wiseman Dairies PLC

50,000

261

Rocky Mountain Chocolate Factory, Inc. (e)

500,000

4,800

Samyang Genex Co. Ltd.

145,795

8,427

Select Harvests Ltd. (e)

3,010,115

9,495

Sunjin Co. Ltd. (a)(e)

219,900

8,888

Synear Food Holdings Ltd. (a)

39,000,000

7,382

United Food Holdings Ltd. (a)

22,400,000

1,125

Yutaka Foods Corp.

250,000

4,719

 

453,050

Personal Products - 0.3%

American Oriental Bioengineering, Inc. (a)(d)

350,000

952

Atrium Innovations, Inc. (a)

1,125,000

16,380

CCA Industries, Inc.

270,746

1,205

Inter Parfums, Inc. (e)

1,700,000

29,733

Nutraceutical International Corp. (a)(e)

1,143,504

18,582

Common Stocks - continued

Shares

Value (000s)

CONSUMER STAPLES - continued

Personal Products - continued

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

1,200,534

$ 4,298

Sarantis SA

1,299,952

6,874

 

78,024

Tobacco - 0.0%

Karelia Tobacco Co., Inc.

2,452

208

TOTAL CONSUMER STAPLES

2,498,394

ENERGY - 6.0%

Energy Equipment & Services - 3.1%

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

1,777,000

15,507

Bristow Group, Inc. (a)

1,650,017

63,988

BW Offshore Ltd. (a)

9,000,000

19,584

Cal Dive International, Inc. (a)

800,000

4,048

CE Franklin Ltd. (a)(e)

1,472,000

9,843

Dawson Geophysical Co. (a)

100,593

2,499

Divestco, Inc. (e)

3,586,000

949

Ensign Energy Services, Inc. (d)

1,025,000

12,723

Farstad Shipping ASA (e)

3,225,000

80,910

Flint Energy Services Ltd. (a)(f)

450,000

7,029

Fugro NV (Certificaten Van Aandelen) unit

1,700,027

120,238

Global Industries Ltd. (a)

2,000,038

11,580

Gulf Island Fabrication, Inc.

110,000

2,512

Gulfmark Offshore, Inc. Class A (a)

30,000

888

Hercules Offshore, Inc. (a)

2,600,000

6,136

Hornbeck Offshore Services, Inc. (a)(e)

1,525,000

33,916

Noble Corp.

5,000

173

North American Energy Partners, Inc. (a)

10,000

87

Oil States International, Inc. (a)(e)

4,984,108

254,788

Peak Energy Services Trust (a)

3,000,000

1,206

Peak Energy Services Trust (a)(f)

13,655,286

5,489

Precision Drilling Corp. (a)

5,650,000

44,318

ProSafe ASA

7,900,000

52,057

Pulse Seismic, Inc. (a)

1,188,041

1,666

Solstad Offshore ASA

1,310,000

23,699

Total Energy Services, Inc. (e)

2,800,000

25,230

Unit Corp. (a)(e)

3,824,994

150,055

 

951,118

Oil, Gas & Consumable Fuels - 2.9%

Adams Resources & Energy, Inc. (e)

421,700

8,265

Common Stocks - continued

Shares

Value (000s)

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

AOC Holdings, Inc. (a)(e)

5,825,000

$ 25,625

Beach Energy Ltd. (d)

25,385,980

16,662

Cimarex Energy Co.

1,000,000

76,750

ENI SpA

10,150,000

228,493

Frontier Oil Corp.

5,207,000

68,993

Great Eastern Shipping Co. Ltd.

2,800,000

20,060

Hankook Shell Oil Co. Ltd. (e)

68,000

13,939

Holly Corp.

100,000

3,273

Michang Oil Industrial Co. Ltd. (e)

173,900

8,722

National Energy Group, Inc. (a)

548,313

2,160

Oil Search Ltd.

5,900,000

36,876

Pebercan, Inc. (a)

1,150,000

0

Rex American Resources Corp. (a)(e)

1,308,048

21,701

Stone Energy Corp. (a)

130,000

2,032

Sunoco, Inc.

1,800,000

67,446

Swift Energy Co. (a)(e)

3,000,049

95,552

Tesoro Corp.

5,000,000

64,800

Tsakos Energy Navigation Ltd.

310,000

3,205

USEC, Inc. (a)(d)

4,000,000

21,480

W&T Offshore, Inc. (d)(e)

6,375,000

69,360

World Fuel Services Corp.

2,000,022

56,461

 

911,855

TOTAL ENERGY

1,862,973

FINANCIALS - 8.8%

Capital Markets - 0.0%

GFI Group, Inc.

250,000

1,198

Mass Financial Corp. Class A

36,538

289

TradeStation Group, Inc. (a)

1,250,000

6,863

 

8,350

Commercial Banks - 0.9%

Anglo Irish Bank Corp. PLC (a)

9,500,373

0

Aozora Bank Ltd.

1,050,000

1,762

Bank of the Ozarks, Inc. (d)

250,342

9,515

Cathay General Bancorp (e)

4,125,000

56,100

Center Financial Corp. (a)(e)

2,185,331

11,407

CIT Group, Inc. (a)

170,000

7,366

Codorus Valley Bancorp, Inc.

90,000

843

Dimeco, Inc.

21,140

787

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Commercial Banks - continued

East West Bancorp, Inc.

4,000,000

$ 70,520

First Bancorp, Puerto Rico (a)(d)

2,000,000

610

Nara Bancorp, Inc. (a)

40,000

314

National Penn Bancshares, Inc.

1,200,000

7,788

North Valley Bancorp (a)(e)

3,250,000

5,428

Norwood Financial Corp.

31,801

890

Oba Financial Service, Inc. (a)

14,992

177

Oriental Financial Group, Inc. (e)

2,504,541

33,135

Orrstown Financial Services, Inc.

30,000

773

Pacific Premier Bancorp, Inc. (a)(e)

948,105

4,968

Popular, Inc. (a)

18,050,072

49,277

Sandy Spring Bancorp, Inc.

300,000

5,220

Sparebanken More (primary capital certificate)

92,008

3,109

Sparebanken Rogaland (primary capital certificate)

1,061,327

10,144

The First Bancorp, Inc.

9,711

135

Vestjysk Bank AS (Reg.) (a)

105,600

1,438

Wilshire Bancorp, Inc.

200,000

1,342

 

283,048

Consumer Finance - 0.1%

Aeon Credit Service (Asia) Co. Ltd.

12,400,000

10,366

First Cash Financial Services, Inc. (a)

100,000

2,907

Nicholas Financial, Inc.

200,827

2,099

Student Loan Corp.

350,003

10,437

 

25,809

Diversified Financial Services - 0.0%

Korea Information Service, Inc. (e)

240,000

6,915

Newship Ltd. (a)

2,500

160

Ricoh Leasing Co. Ltd.

10,000

248

 

7,323

Insurance - 6.7%

AEGON NV (a)

38,000,000

240,775

April Group

140,000

4,204

Assurant, Inc.

5,000,000

197,700

Axis Capital Holdings Ltd. (e)

7,925,000

269,529

Employers Holdings, Inc.

575,156

9,312

Endurance Specialty Holdings Ltd. (e)

2,600,000

107,640

FBL Financial Group, Inc. Class A

400,000

10,464

Fidelity National Financial, Inc. Class A

25,000

335

First Mercury Financial Corp.

462,951

7,546

Genworth Financial, Inc. Class A (a)

13,800,000

156,492

Common Stocks - continued

Shares

Value (000s)

FINANCIALS - continued

Insurance - continued

Hartford Financial Services Group, Inc.

6,700,000

$ 160,666

HCC Insurance Holdings, Inc.

356,353

9,436

Lincoln National Corp.

7,050,000

172,584

National Interstate Corp.

961,001

20,633

National Western Life Insurance Co. Class A

148,870

23,821

Protective Life Corp.

1,605,000

38,472

RenaissanceRe Holdings Ltd. (e)

3,100,000

186,806

Symetra Financial Corp.

175,000

1,934

Tower Group, Inc.

300,000

7,284

Unum Group

15,900,000

356,478

Validus Holdings Ltd.

3,024,977

85,788

 

2,067,899

Real Estate Investment Trusts - 0.3%

Kite Realty Group Trust

500,460

2,392

ProLogis Trust

6,660,000

90,909

VastNed Offices/Industrial NV

125,000

2,112

 

95,413

Real Estate Management & Development - 0.1%

Airport Facilities Co. Ltd.

260,000

1,024

Devine Ltd.

8,500,000

2,332

Relo Holdings Corp. (e)

999,200

15,161

Tejon Ranch Co. (a)(d)

943,829

21,010

 

39,527

Thrifts & Mortgage Finance - 0.7%

Bank Mutual Corp.

125,000

603

First Financial Service Corp.

102,373

498

Fox Chase Bancorp, Inc. (a)

724,419

7,063

Genworth MI Canada, Inc. (e)

5,800,000

154,966

North Central Bancshares, Inc. (e)

134,461

1,782

Oritani Financial Corp.

50,000

531

The PMI Group, Inc. (a)(d)(e)

12,388,300

41,501

WSB Holdings, Inc.

16,329

37

 

206,981

TOTAL FINANCIALS

2,734,350

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - 12.3%

Biotechnology - 0.6%

Amgen, Inc. (a)

3,000,000

$ 171,570

Vital BioTech Holdings Ltd. (a)

15,000,000

445

 

172,015

Health Care Equipment & Supplies - 1.5%

Anika Therapeutics, Inc. (a)

51,934

337

Atrion Corp.

10,000

1,629

Corin Group PLC

250,000

196

Exactech, Inc. (a)(e)

700,100

11,384

Hoshiiryou Sanki Co. Ltd. (e)

258,400

6,535

Immucor, Inc. (a)

600,000

10,440

Kinetic Concepts, Inc. (a)(e)

4,208,173

160,037

Mani, Inc.

335,000

13,134

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

1,634,280

16,212

Medtronic, Inc.

200,000

7,042

Microlife Corp.

2,700,000

5,443

Nakanishi, Inc.

271,300

29,163

Prim SA (e)

1,615,000

12,966

Span-America Medical System, Inc. (e)

268,000

3,755

St. Shine Optical Co. Ltd.

800,200

8,994

Symmetry Medical, Inc. (a)

400,000

3,540

Syneron Medical Ltd. (a)(e)

3,558,700

37,473

Techno Medica Co. Ltd.

86

314

Theragenics Corp. (a)(e)

3,304,620

4,032

Top Glove Corp. Bhd

1,500,000

2,652

Utah Medical Products, Inc. (e)

460,000

13,119

Value Added Technlgies Co. Ltd.

100,000

947

Varian Medical Systems, Inc. (a)

50,000

3,161

Young Innovations, Inc. (e)

791,040

21,967

Zimmer Holdings, Inc. (a)

2,000,000

94,880

 

469,352

Health Care Providers & Services - 9.0%

Advocat, Inc. (e)

566,360

3,081

Almost Family, Inc. (a)(e)

500,000

17,265

Amedisys, Inc. (a)(d)(e)

2,882,000

73,376

AMERIGROUP Corp. (a)(e)

4,980,000

207,815

AmSurg Corp. (a)(e)

2,353,000

42,542

AS One Corp.

220,000

4,033

Centene Corp. (a)

675,000

15,066

Continucare Corp. (a)

150,043

675

Corvel Corp. (a)

100,054

4,482

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Health Care Providers & Services - continued

Coventry Health Care, Inc. (a)(e)

14,620,627

$ 342,415

Grupo Casa Saba SA de CV sponsored ADR (a)(d)

1,263,900

18,011

Health Net, Inc. (a)

4,300,000

115,627

Healthspring, Inc. (a)(e)

5,100,000

148,869

Healthways, Inc. (a)(e)

1,735,000

18,183

Henry Schein, Inc. (a)

150,000

8,423

Kindred Healthcare, Inc. (a)

773,744

10,616

LHC Group, Inc. (a)

857,030

23,054

LifePoint Hospitals, Inc. (a)

2,600,000

88,192

Lincare Holdings, Inc. (d)(e)

13,453,537

352,752

Medica Sur SA de CV

300,000

643

MEDNAX, Inc. (a)

100,000

5,921

Molina Healthcare, Inc. (a)

1,300,000

33,696

National Research Corp.

2,000

56

Patterson Companies, Inc.

4,500,027

124,426

Psychemedics Corp.

40,331

354

ResCare, Inc. (a)(e)

1,738,520

23,001

Triple-S Management Corp. (a)(e)

1,720,748

29,029

U.S. Physical Therapy, Inc. (a)

45,000

845

United Drug PLC:

(Ireland)

8,850,033

28,077

(United Kingdom)

518,887

1,669

UnitedHealth Group, Inc.

23,000,000

829,130

Universal American Financial Corp.

1,720,043

27,658

VCA Antech, Inc. (a)

730,000

15,089

Wellcare Health Plans, Inc. (a)

1,600,000

44,448

WellPoint, Inc. (a)

2,250,000

122,265

Win International Co., Ltd. (e)

701,171

4,993

 

2,785,777

Health Care Technology - 0.0%

Arrhythmia Research Technology, Inc. (e)

271,041

1,504

Life Sciences Tools & Services - 0.1%

ICON PLC sponsored ADR (a)

2,260,000

43,731

Pharmaceuticals - 1.1%

Bukwang Pharmaceutical Co. Ltd.

60,000

662

Daewon Pharmaceutical Co. Ltd. (e)

1,290,900

9,459

Endo Pharmaceuticals Holdings, Inc. (a)

4,500,000

165,330

Forest Laboratories, Inc. (a)

2,000,000

66,100

Fornix Biosciences NV (e)

475,022

1,534

Hanmi Holdings Co. Ltd.

25,000

827

Common Stocks - continued

Shares

Value (000s)

HEALTH CARE - continued

Pharmaceuticals - continued

Ildong Pharmaceutical Co. Ltd. (e)

501,013

$ 16,374

Jeil Pharmaceutical Co. (e)

800,000

10,956

KunWha Pharmaceutical Co., Ltd. (e)

325,000

3,743

KV Pharmaceutical Co. Class A (a)(d)

650,000

1,515

Pacific Pharmaceutical Co. Ltd.

47,580

1,360

Recordati SpA

3,200,000

31,502

Torii Pharmaceutical Co. Ltd.

620,000

12,204

Whanin Pharmaceutical Co. Ltd. (e)

1,860,000

11,893

Yuyu Pharma, Inc.

255,000

1,469

 

334,928

TOTAL HEALTH CARE

3,807,307

INDUSTRIALS - 7.8%

Aerospace & Defense - 0.6%

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

245,280

319

CAE, Inc.

10,000,000

112,168

Ceradyne, Inc. (a)

10,000

238

Magellan Aerospace Corp. (a)

550,100

1,478

Moog, Inc. Class A (a)

2,000,000

75,200

 

189,403

Air Freight & Logistics - 0.3%

Air T, Inc. (e)

242,988

2,158

Dynamex, Inc. (a)

200,000

4,228

Kintetsu World Express, Inc.

500,000

11,632

Pacer International, Inc. (a)(e)

1,825,017

10,165

Sinwa Ltd.

16,523,000

2,553

Yusen Logistics Co. Ltd. (e)

4,221,500

58,441

 

89,177

Airlines - 0.1%

MAIR Holdings, Inc. (a)(e)

2,000,026

0

Pinnacle Airlines Corp. (a)

841,096

4,845

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

2,500,000

23,225

SkyWest, Inc.

332,138

5,035

 

33,105

Building Products - 0.2%

AAON, Inc.

809,991

19,885

Insteel Industries, Inc. (e)

1,361,025

11,691

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Building Products - continued

Kingspan Group PLC (Ireland)

2,630,000

$ 21,983

Kondotec, Inc. (e)

1,000,000

7,096

 

60,655

Commercial Services & Supplies - 1.2%

AJIS Co. Ltd. (e)

438,500

6,921

Cintas Corp.

3,350,000

92,025

Fursys, Inc. (e)

698,830

17,556

Gl Events

40,000

1,388

HNI Corp.

100,488

2,478

Knoll, Inc. (e)

4,688,016

71,117

Mitie Group PLC (e)

18,000,000

58,600

Moshi Moshi Hotline, Inc.

310,000

7,215

Multi-Color Corp.

360,000

5,742

Nice e-Banking Services

474,027

1,324

RPS Group PLC

1,350,000

4,443

Secom Techno Service Co. Ltd. (e)

1,298,000

38,519

United Stationers, Inc. (a)(e)

1,215,772

68,326

VICOM Ltd.

3,000,000

6,328

 

381,982

Construction & Engineering - 0.8%

Arcadis NV

1,275,000

28,421

Aveng Ltd.

600,000

3,769

Chodai Co. Ltd.

75,000

168

Daiichi Kensetsu Corp. (e)

1,640,000

12,024

Dongyang Engineering & Construction Corp. (e)

225,000

2,301

EMCOR Group, Inc. (a)

949,996

24,557

Granite Construction, Inc.

300,000

7,254

Hanil Construction Co. Ltd. (a)

50,000

100

Heijmans NV unit (a)

10,000

189

Imtech NV

925,000

31,070

Jacobs Engineering Group, Inc. (a)

1,500,000

57,915

Kaneshita Construction Co. Ltd.

925,000

3,954

KHD Humboldt Wedag International AG

121,550

1,115

Kier Group PLC

30,000

636

Koninklijke BAM Groep NV

1,800,000

12,135

Kyeryong Construction Industrial Co. Ltd. (e)

893,000

15,049

Meisei Industrial Co. Ltd.

1,100,000

3,663

Mirait Holdings Corp. (a)

2,423,440

15,931

Northwest Pipe Co. (a)

444,990

8,375

Sanyo Engineering & Construction, Inc.

1,000,000

3,206

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Construction & Engineering - continued

Severfield-Rowen PLC

977,742

$ 3,771

Shinnihon Corp. (d)

1,800,000

4,138

Shinsegae Engineering & Construction Co. Ltd. (e)

314,469

3,831

ShoLodge, Inc. (a)(e)

500,627

60

Sterling Construction Co., Inc. (a)

300,007

3,660

United Integration Services Co. Ltd.

2,000,000

2,709

Vianini Lavori SpA

350,000

1,948

 

251,949

Electrical Equipment - 0.6%

Aichi Electric Co. Ltd.

1,000,000

2,858

Aros Quality Group AB

359,779

2,854

AZZ, Inc. (e)

1,110,000

41,225

Canare Electric Co. Ltd.

150,000

2,052

Chiyoda Integre Co. Ltd.

530,000

6,560

Deswell Industries, Inc. (e)

891,999

2,819

Fushi Copperweld, Inc. (a)

925,000

8,603

FW Thorpe PLC

462,700

5,078

General Cable Corp. (a)

160,000

4,470

Graphite India Ltd.

1,350,000

2,854

Hubbell, Inc. Class B

400,000

21,608

I-Sheng Electric Wire & Cable Co. Ltd.

6,600,000

11,279

Korea Electric Terminal Co. Ltd. (e)

700,000

12,823

Nexans SA (d)

425,000

30,266

PK Cables OY

250,000

4,237

Prysmian SpA

420,000

8,141

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

241,255

1,556

Zumtobel AG

350,000

7,161

 

176,444

Industrial Conglomerates - 1.2%

DCC PLC (Ireland) (e)

8,310,000

240,047

Reunert Ltd.

1,150,000

10,507

Seaboard Corp.

50,006

92,714

Textron, Inc.

1,000,000

20,820

 

364,088

Machinery - 1.2%

Aalberts Industries NV

4,800,000

87,661

Actuant Corp. Class A

250,000

5,618

ASL Marine Holdings Ltd.

4,765,000

3,313

Cascade Corp. (e)

925,263

32,745

CKD Corp. (e)

5,500,000

38,822

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Machinery - continued

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

1,180,240

$ 20,725

Foremost Income Fund (e)

2,141,103

12,071

Gencor Industries, Inc. (a)

283,103

2,075

Hardinge, Inc. (e)

606,276

4,838

Harsco Corp.

200,006

4,636

Hi-P International Ltd.

22,045,000

17,884

Hurco Companies, Inc. (a)(e)

643,998

11,850

Hwacheon Machine Tool Co. Ltd. (e)

219,900

8,018

Ihara Science Corp.

680,000

4,994

Inoue Kinzoku Kogyo Co. Ltd. (e)

1,082,000

4,357

Jaya Holdings Ltd. (a)(e)

74,670,000

40,672

Kyowakogyosyo Co.,Ltd.

150,000

1,277

Lincoln Electric Holdings, Inc.

100,000

5,976

Miller Industries, Inc.

579,328

7,798

NACCO Industries, Inc. Class A

400,000

39,704

Nadex Co. Ltd. (e)

623,000

2,237

Nichidai Corp. (a)

100,000

246

Nitta Corp.

75,000

1,187

NN, Inc. (a)

749,901

6,239

S&T Holdings Co. Ltd.

610,020

8,870

Takamatsu Machinery Co., Ltd. (a)

105,000

356

Takeuchi Manufacturing Co. Ltd. (a)

270,000

2,100

Tocalo Co. Ltd.

210,000

3,573

Trifast PLC (a)(e)

8,520,000

5,597

Trinity Industrial Corp.

625,000

1,903

 

387,342

Marine - 0.0%

Excel Maritime Carriers Ltd. (a)

103,320

601

Tokyo Kisen Co. Ltd. (e)

1,000,000

4,822

 

5,423

Professional Services - 0.9%

Boardroom Ltd.

3,000,000

1,298

Clarius Group Ltd.

4,142,382

2,922

Corporate Executive Board Co.

700,019

21,869

CRA International, Inc. (a)(e)

750,036

13,988

en-japan, Inc. (a)

6,100

7,990

Equifax, Inc.

3,200,049

106,018

Hays PLC

1,500,000

2,656

Hyder Consulting PLC

550,000

3,393

LECG Corp. (a)

639,396

550

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Professional Services - continued

Manpower, Inc.

100,000

$ 5,473

RCM Technologies, Inc. (a)(e)

1,299,917

6,565

SmartPros Ltd.

125,000

300

SR Teleperformance SA

270,000

8,513

Stantec, Inc. (a)(e)

2,500,100

69,103

Synergie SA

135,000

3,569

Temp Holdings Co., Ltd. (d)

325,000

2,888

TrueBlue, Inc. (a)

99,997

1,405

VSE Corp.

161,546

5,694

 

264,194

Road & Rail - 0.4%

Alps Logistics Co. Ltd. (e)

1,723,700

18,593

Con-way, Inc.

750,000

24,758

Contrans Group, Inc.:

(sub. vtg.) (f)

130,000

1,115

Class A

554,000

4,753

Hamakyorex Co. Ltd.

100,000

2,371

Hutech Norin Co. Ltd. (e)

1,043,700

8,884

Japan Logistic Systems Corp.

175,000

533

Sakai Moving Service Co. Ltd. (e)

778,000

16,813

Trancom Co. Ltd. (e)

1,032,400

17,153

Universal Truckload Services, Inc. (a)

474,513

6,809

US 1 Industries, Inc. (a)(e)

1,362,000

1,512

Vitran Corp., Inc. (a)

11,178

125

Vitran Corp., Inc. (a)(h)

500,000

5,595

 

109,014

Trading Companies & Distributors - 0.3%

AddTech AB (B Shares)

460,000

10,774

Grafton Group PLC unit

6,700,017

28,602

Hanwa Co. Ltd.

1,000,000

3,952

Houston Wire & Cable Co.

861,000

9,927

KS Energy Services Ltd. (a)

14,200,000

11,410

Otec Corp.

100,000

610

Parker Corp. (e)

2,400,000

5,160

Richelieu Hardware Ltd.

375,000

10,828

Senshu Electric Co. Ltd. (e)

1,080,000

9,663

Strongco Corp. (a)(e)

809,962

2,859

Tanaka Co. Ltd.

100,000

329

TECHNO ASSOCIE CO., LTD.

180,000

1,409

Totech Corp.

200,000

723

Common Stocks - continued

Shares

Value (000s)

INDUSTRIALS - continued

Trading Companies & Distributors - continued

Uehara Sei Shoji Co. Ltd.

1,100,000

$ 3,855

Wakita & Co. Ltd.

650,000

2,399

Yamazen Co. Ltd.

1,050,000

4,293

 

106,793

Transportation Infrastructure - 0.0%

Isewan Terminal Service Co. Ltd. (e)

1,575,000

7,731

Meiko Transportation Co. Ltd.

905,000

6,455

 

14,186

TOTAL INDUSTRIALS

2,433,755

INFORMATION TECHNOLOGY - 16.7%

Communications Equipment - 1.0%

Aastra Technologies Ltd.

651,400

13,604

Bel Fuse, Inc. Class A

347,500

8,132

Black Box Corp. (e)

1,800,000

59,760

Blonder Tongue Laboratories, Inc. (a)

152,040

354

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

2,252,137

8,671

ClearOne Communications, Inc. (a)(e)

1,000,503

3,552

Comtech Telecommunications Corp.

475,000

14,640

Ditech Networks, Inc. (a)(e)

2,175,196

3,089

NEC Mobiling Ltd.

270,000

6,778

Nera Telecommunications Ltd.

9,000,000

2,364

NETGEAR, Inc. (a)(e)

3,500,000

107,835

Opnext, Inc. (a)

2,652,231

4,005

Optical Cable Corp. (e)

537,002

1,729

TKH Group NV unit

3,030,000

75,468

 

309,981

Computers & Peripherals - 2.6%

ASUSTeK Computer, Inc.

4,300,000

34,914

Compal Electronics, Inc.

122,500,000

156,102

Logitech International SA (a)(d)

400,000

7,516

Logitech International SA (Reg.) (a)

7,100,000

134,592

Pegatron Corp. (a)

9,043,700

12,248

Pinnacle Technology Holdings Ltd.

1,800,000

1,452

Rimage Corp. (a)(e)

941,192

13,958

Roland DG Corp.

210,000

2,920

Seagate Technology (a)

21,300,000

312,045

Super Micro Computer, Inc. (a)(e)

2,329,810

25,907

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Computers & Peripherals - continued

TPV Technology Ltd.

54,000,000

$ 33,231

Western Digital Corp. (a)

1,000,000

32,020

Xyratex Ltd. (a)(e)

2,849,990

44,118

 

811,023

Electronic Equipment & Components - 3.8%

A&D Co. Ltd. (a)(e)

1,650,000

7,361

Beijer Electronics AB

40,000

1,030

CNB Technology, Inc.

110,000

611

CPI International, Inc. (a)

618,974

8,740

Daktronics, Inc. (d)

100,813

1,101

Delta Electronics PCL (For. Reg.)

25,000,000

26,511

DigiTech Systems Co., Ltd.

280,000

5,453

Elec & Eltek International Co. Ltd.

1,300,000

3,835

Elematec Corp. (e)

1,670,000

21,085

Excel Co. Ltd. (e)

909,800

9,474

Fabrinet (a)

50,000

704

Hon Hai Precision Industry Co. Ltd. (Foxconn)

90,721,112

343,854

Huan Hsin Holdings Ltd. (a)

7,200,000

1,419

Image Sensing Systems, Inc. (a)(e)

350,000

4,057

Insight Enterprises, Inc. (a)

1,563,127

23,634

INTOPS Co. Ltd. (e)

859,900

17,588

Jurong Technologies Industrial Corp. Ltd. (a)

29,873,347

0

Kingboard Chemical Holdings Ltd.

41,000,000

199,413

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

4,100,000

2,349

Kingboard Laminates Holdings Ltd.

9,000,000

8,673

KITAGAWA INDUSTRIES CO., LTD.

100,000

875

Mesa Laboratories, Inc. (e)

317,500

8,176

Muramoto Electronic Thailand PCL (For. Reg.)

1,700,000

10,902

Nippo Ltd. (e)

510,400

3,260

Orbotech Ltd. (a)(e)

2,449,985

23,838

Rofin-Sinar Technologies, Inc. (a)

100,500

2,807

ScanSource, Inc. (a)(e)

2,086,231

62,462

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

475,000

1,306

Shibaura Electronics Co. Ltd. (e)

706,000

9,300

Shinko Shoji Co. Ltd.

50,000

370

Sigmatron International, Inc. (a)(e)

381,880

2,108

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

6,260,000

46,261

Spectrum Control, Inc. (a)

147,343

2,248

SYNNEX Corp. (a)(e)

3,458,500

100,435

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

359,023

370

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Electronic Equipment & Components - continued

Tomen Electronics Corp. (e)

1,492,400

$ 18,509

Venture Corp. Ltd. (e)

23,250,000

162,748

Vishay Precision Group, Inc. (a)

10,000

170

VST Holdings Ltd. (a)

62,500,000

15,965

Winland Electronics, Inc. (a)(e)

337,600

252

Wireless Telecom Group, Inc. (a)(e)

1,767,712

1,232

XAC Automation Corp. (e)

5,000,000

5,865

 

1,166,351

Internet Software & Services - 1.3%

AhnLab, Inc.

200,000

3,406

Artificial Life, Inc. (a)

100,000

109

Daou Technology, Inc.

1,581,290

12,656

eBay, Inc. (a)

8,000,000

238,480

j2 Global Communications, Inc. (a)(e)

3,810,040

100,395

Jorudan Co. Ltd.

150,000

1,174

Meetic

1,000

30

Melbourne IT Ltd. (e)

7,959,600

14,036

Monster Worldwide, Inc. (a)(d)

1,300,043

23,479

NetGem SA

750,000

3,506

Rentabiliweb Group SA

75,000

925

Softbank Technology Corp. (e)

650,000

4,540

UANGEL Corp. (e)

1,200,000

4,695

United Internet AG

50,000

896

 

408,327

IT Services - 3.4%

Accenture PLC Class A

500,000

22,355

ALTEN

540,000

18,029

Amdocs Ltd. (a)

8,000,000

245,440

Argo Graphics, Inc.

515,000

5,805

Calian Technologies Ltd. (e)

778,500

14,427

Computer Services, Inc.

160,000

3,512

Convergys Corp. (a)

2,599,970

29,432

CSE Global Ltd. (e)

39,980,000

32,743

EOH Holdings Ltd. (e)

5,400,000

10,715

Groupe Steria SCA

1,005

27

Heartland Payment Systems, Inc. (e)

3,536,700

50,504

HIQ International AB

900,000

4,688

Indra Sistemas SA (d)(e)

13,200,000

258,334

Know IT AB (e)

1,275,000

12,499

ManTech International Corp. Class A (a)

125,000

4,901

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

IT Services - continued

Mastek Ltd. (e)

2,025,000

$ 9,313

Matsushita Electric Works Information Systems Co. Ltd.

370,000

10,116

NCI, Inc. Class A (a)

99,507

1,855

NeuStar, Inc. Class A (a)

350,000

9,034

Patni Computer Systems Ltd. sponsored ADR

1,950,000

40,716

Rolta India Ltd.

600,000

2,265

SAIC, Inc. (a)

1,100,000

17,094

SinoCom Software Group Ltd. (e)

67,000,000

7,866

Softcreate Co., Ltd.

30,000

332

Syntel, Inc.

375,000

18,323

The Western Union Co.

600,000

10,560

Total System Services, Inc. (e)

14,525,200

226,738

Wright Express Corp. (a)

10,000

377

 

1,068,000

Office Electronics - 0.4%

Xerox Corp.

10,000,000

117,000

Semiconductors & Semiconductor Equipment - 0.9%

Alpha & Omega Semiconductor Ltd. (a)

275,000

3,083

Axcelis Technologies, Inc. (a)

3,100,000

6,665

Axell Corp. (d)(e)

700,000

15,310

Diodes, Inc. (a)(e)

3,700,253

81,332

ELMOS Semiconductor AG (a)

850,000

9,613

Gennum Corp. (e)

2,770,000

19,528

KEC Holdings Co. Ltd. (e)

1,399,999

2,316

Lasertec Corp.

335,000

3,239

Leeno Industrial, Inc.

200,000

2,775

MediaTek, Inc.

150,000

1,887

Melexis NV (d)(e)

3,300,000

58,316

Miraial Co. Ltd.

150,000

3,678

Nextchip Co. Ltd.

214,981

3,126

Novatek Microelectronics Corp.

1,300,000

3,780

Photronics, Inc. (a)

1,000,010

6,280

Powertech Technology, Inc.

5,000,000

16,501

Sunplus Technology Co. Ltd. (a)

7,000,000

5,215

Telechips, Inc. (e)

1,057,600

8,436

Trio-Tech International (a)(e)

322,543

1,900

UKC Holdings Corp. (e)

1,527,100

15,713

Varitronix International Ltd. (e)

32,340,000

12,350

Y. A. C. Co., Ltd.

300,000

1,786

 

282,829

Common Stocks - continued

Shares

Value (000s)

INFORMATION TECHNOLOGY - continued

Software - 3.3%

ANSYS, Inc. (a)(e)

5,100,000

$ 230,775

Aveva Group PLC

10,000

239

ClickSoftware Technologies Ltd. (a)

75,000

491

Cybernet Systems Co. Ltd. (e)

20,500

5,243

DTS Corp.

200,000

2,128

ebix.com, Inc. (a)(d)(e)

1,760,015

43,472

Epicor Software Corp. (a)

1,860,328

17,487

Exact Holdings NV

725,000

20,332

Geodesic Ltd.

4,600,000

12,132

Hudson Soft Co. Ltd.

700,000

2,340

ICSA (India) Ltd.

100,000

292

ICT Automatisering NV (a)(e)

874,000

5,521

IGE + XAO SA

20,000

675

Infomedia Ltd.

2,160,650

487

Jack Henry & Associates, Inc.

1,800,432

48,900

KSK Co., Ltd. (e)

466,800

3,434

MICROS Systems, Inc. (a)

100,036

4,541

MicroStrategy, Inc. Class A (a)

40,000

3,625

Net 1 UEPS Technologies, Inc. (a)

550,000

6,782

NSD Co. Ltd.

250,000

2,662

Nucleus Software Exports Ltd.

1,050,000

3,032

Oracle Corp.

17,000,000

499,800

Pervasive Software, Inc. (a)

389,813

1,980

Pro-Ship, Inc.

55,000

967

Progress Software Corp. (a)

2,000,000

74,740

Sage Group PLC

200,000

863

Shanda Games Ltd. sponsored ADR (a)

100,000

670

Societe Pour L'Informatique Industrielle SA (e)

1,143,872

6,860

Springsoft, Inc.

10,000,922

13,365

SWORD Group

220,000

8,100

Vasco Data Security International, Inc. (a)

825,466

6,595

VIC Tokai Corp.

132,300

1,207

 

1,029,737

TOTAL INFORMATION TECHNOLOGY

5,193,248

MATERIALS - 4.3%

Chemicals - 2.4%

Aditya Birla Chemicals India Ltd. (e)

1,550,000

4,521

American Vanguard Corp. (e)

1,485,005

10,944

Aronkasei Co. Ltd.

450,000

1,817

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Chemicals - continued

C. Uyemura & Co. Ltd. (e)

628,000

$ 22,008

Chase Corp. (e)

863,786

13,700

Core Molding Technologies, Inc. (a)

314,306

1,506

Deepak Fertilisers and Petrochemicals Corp. Ltd. (e)

5,300,000

21,320

Deepak Nitrite Ltd.

374,378

1,626

EcoGreen Fine Chemical Group Ltd. (e)

42,982,000

15,526

FMC Corp.

2,000,000

146,200

Fujikura Kasei Co., Ltd. (e)

2,889,700

17,345

Gujarat Narmada Valley Fertilizers Co.

2,300,000

6,460

Gujarat State Fertilizers & Chemicals Ltd.

1,400,000

11,377

Honshu Chemical Industry Co., Ltd. (e)

700,000

4,445

Innospec, Inc. (a)(e)

2,000,000

33,860

KPC Holdings Corp.

43,478

2,088

Kpx Chemical Co. Ltd.

163,083

7,831

Miwon Commercial Co. Ltd.

20,850

2,179

Muto Seiko Co. Ltd.

150,000

1,463

OM Group, Inc. (a)(e)

2,269,800

75,516

SK Kaken Co. Ltd.

304,000

10,162

Soken Chemical & Engineer Co. Ltd. (e)

805,000

10,484

Spartech Corp. (a)

102,000

863

T&K Toka Co. Ltd.

450,000

6,135

Thai Carbon Black PCL (For. Reg.)

11,500,000

13,540

Thai Rayon PCL (For. Reg.)

3,100,000

9,681

Yara International ASA

5,000,000

262,830

Yip's Chemical Holdings Ltd. (e)

34,002,000

40,445

 

755,872

Construction Materials - 0.1%

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

850,700

5,288

JK Cement Ltd.

150,000

588

Mitani Sekisan Co. Ltd.

1,000,100

5,705

Titan Cement Co. SA (Reg.)

575,000

12,289

 

23,870

Containers & Packaging - 0.5%

Chuoh Pack Industry Co. Ltd. (e)

275,000

2,426

Kohsoku Corp. (e)

1,927,600

17,367

Silgan Holdings, Inc.

2,600,000

87,750

Starlite Holdings Ltd.

3,000,000

186

The Pack Corp. (e)

1,700,000

31,351

Vidrala SA

100,000

2,943

 

142,023

Common Stocks - continued

Shares

Value (000s)

MATERIALS - continued

Metals & Mining - 1.3%

Blue Earth Refineries, Inc.

274,309

$ 181

Chubu Steel Plate Co. Ltd.

200,000

1,091

Commercial Metals Co.

100,000

1,388

Compania de Minas Buenaventura SA sponsored ADR

3,000,000

159,120

Gerdau SA sponsored ADR (d)

3,000,000

39,120

Horsehead Holding Corp. (a)(e)

2,650,000

28,965

HudBay Minerals, Inc.

2,500,200

39,468

Industrias Penoles SA de CV

2,200,000

62,322

Korea Steel Shapes Co. Ltd.

42,000

1,950

Orosur Mining, Inc. (a)

1,515,000

1,441

Orvana Minerals Corp. (a)

1,600,000

4,189

Pacific Metals Co. Ltd.

1,300,000

10,810

Sherritt International Corp.

1,000,000

7,775

Synalloy Corp.

300,013

2,811

Tohoku Steel Co. Ltd. (e)

595,000

6,071

Tokyo Kohtetsu Co. Ltd.

86,600

538

Tokyo Tekko Co. Ltd. (e)

4,600,000

9,203

Universal Stainless & Alloy Products, Inc. (a)(e)

400,000

11,576

Webco Industries, Inc. (a)

9,122

547

Yamato Kogyo Co. Ltd.

250,000

6,412

 

394,978

Paper & Forest Products - 0.0%

Gunns Ltd.

750,000

496

Stella-Jones, Inc.

35,000

916

Stella-Jones, Inc.

165,000

4,320

 

5,732

TOTAL MATERIALS

1,322,475

TELECOMMUNICATION SERVICES - 0.3%

Diversified Telecommunication Services - 0.2%

Atlantic Tele-Network, Inc. (e)

1,338,800

56,578

Wireless Telecommunication Services - 0.1%

Okinawa Cellular Telephone Co.

209

436

SK Telecom Co. Ltd. sponsored ADR

1,900,000

35,017

 

35,453

TOTAL TELECOMMUNICATION SERVICES

92,031

Common Stocks - continued

Shares

Value (000s)

UTILITIES - 0.2%

Gas Utilities - 0.1%

Hokuriku Gas Co.

1,600,000

$ 4,076

Keiyo Gas Co. Ltd.

606,000

2,839

KyungDong City Gas Co. Ltd.

139,700

5,429

Otaki Gas Co. Ltd.

700,000

3,219

UGI Corp.

200,000

6,018

 

21,581

Independent Power Producers & Energy Traders - 0.1%

Constellation Energy Group, Inc.

1,000,033

30,241

Drax Group PLC

50,000

305

Mega First Corp. Bhd (e)

21,390,300

12,308

 

42,854

TOTAL UTILITIES

64,435

TOTAL COMMON STOCKS

(Cost $19,648,601)

27,687,585

Preferred Stocks - 0.3%

 

 

 

 

Convertible Preferred Stocks - 0.3%

CONSUMER DISCRETIONARY - 0.3%

Auto Components - 0.3%

Johnson Controls, Inc. 11.50%

500,000

84,470

FINANCIALS - 0.0%

Commercial Banks - 0.0%

East West Bancorp, Inc. Series A, 8.00%

3,195

4,046

TOTAL CONVERTIBLE PREFERRED STOCKS

88,516

Nonconvertible Preferred Stocks - 0.0%

CONSUMER STAPLES - 0.0%

Beverages - 0.0%

Hite Holdings Co. Ltd.

48,534

669

Food Products - 0.0%

Nam Yang Dairy Products

4,917

1,052

TOTAL CONSUMER STAPLES

1,721

Preferred Stocks - continued

Shares

Value (000s)

Nonconvertible Preferred Stocks - continued

HEALTH CARE - 0.0%

Pharmaceuticals - 0.0%

Pacific Pharmaceutical Co. Ltd.

10,340

$ 257

MATERIALS - 0.0%

Construction Materials - 0.0%

Buzzi Unicem SpA (Risparmio Shares)

1,150,000

7,645

TOTAL NONCONVERTIBLE PREFERRED STOCKS

9,623

TOTAL PREFERRED STOCKS

(Cost $37,852)

98,139

Convertible Bonds - 0.1%

 

Principal Amount (000s)

 

ENERGY - 0.1%

Oil, Gas & Consumable Fuels - 0.1%

USEC, Inc. 3% 10/1/14

$ 37,150

31,436

INDUSTRIALS - 0.0%

Industrial Conglomerates - 0.0%

Textron, Inc. 4.5% 5/1/13

8,170

14,048

TOTAL CONVERTIBLE BONDS

(Cost $42,693)

45,484

Money Market Funds - 11.6%

Shares

 

Fidelity Cash Central Fund, 0.23% (b)

3,174,886,488

3,174,886

Fidelity Securities Lending Cash Central Fund, 0.24% (b)(c)

411,448,253

411,448

TOTAL MONEY MARKET FUNDS

(Cost $3,586,334)

3,586,334

TOTAL INVESTMENT PORTFOLIO - 101.3%

(Cost $23,315,480)

31,417,542

NET OTHER ASSETS (LIABILITIES) - (1.3)%

(416,798)

NET ASSETS - 100%

$ 31,000,744

Legend

(a) Non-income producing

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

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

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

(e) Affiliated company

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $13,633,000 or 0.0% of net assets.

(g) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

(h) Restricted securities - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $5,595,000 or 0.0% of net assets.

Additional information on each holding is as follows:

Security

Acquisition Date

Acquisition Cost (000s)

Vitran Corp., Inc.

9/17/09

$ 4,534

Affiliated Central Funds

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

Fund

Income earned
(Amounts in thousands)

Fidelity Cash Central Fund

$ 1,824

Fidelity Securities Lending Cash Central Fund

2,133

Total

$ 3,957

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.

$ 8,152

$ -

$ -

$ -

$ 7,361

Abbey PLC

20,393

-

-

235

20,580

Abercrombie & Fitch Co. Class A

329,874

-

8,085

1,563

375,025

Adams Resources & Energy, Inc.

8,856

-

-

-

8,265

Aditya Birla Chemicals India Ltd.

2,313

1,365

-

-

4,521

Advocat, Inc.

2,662

-

-

31

3,081

Air T, Inc.

2,457

-

-

-

2,158

AJIS Co. Ltd.

6,926

-

-

-

6,921

Alabama Aircraft Industries, Inc.

289

-

-

-

319

Almost Family, Inc.

4,205

9,090

-

-

17,265

Alps Logistics Co. Ltd.

17,651

-

-

333

18,593

Amedisys, Inc.

75,024

675

-

-

73,376

American HomePatient, Inc.

677

-

688

-

-

American Vanguard Corp.

10,688

1,512

-

30

10,944

AMERIGROUP Corp.

178,334

-

265

-

207,815

AmSurg Corp.

43,107

-

-

-

42,542

ANSYS, Inc.

229,245

-

-

-

230,775

AOC Holdings, Inc.

27,634

-

-

-

25,625

Arctic Cat, Inc.

12,143

-

-

-

16,243

ARK Restaurants Corp.

4,517

-

-

87

5,093

Arrhythmia Research Technology, Inc.

1,355

-

-

16

1,504

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Arts Optical International Holdings Ltd.

$ 9,443

$ 437

$ -

$ 170

$ 8,781

ASTI Corp.

5,355

-

-

93

4,538

Atlantic Tele-Network, Inc.

59,858

-

-

295

56,578

Axell Corp.

19,661

2,167

-

521

15,310

Axis Capital Holdings Ltd.

247,022

-

-

1,664

269,529

AZZ, Inc.

48,318

-

-

278

41,225

Barratt Developments PLC

126,805

-

-

-

105,108

Basic Energy Services, Inc.

24,362

-

22,288

-

-

Belc Co. Ltd.

21,168

-

-

322

21,905

Belluna Co. Ltd.

24,489

-

-

422

24,274

Bellway PLC

68,394

-

-

-

64,380

Benihana, Inc.

4,400

-

-

-

5,408

Black Box Corp.

60,302

-

5,405

108

59,760

Blyth, Inc.

35,156

-

-

89

35,663

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

122,011

-

-

583

137,022

Brinker International, Inc.

161,255

-

156

1,436

190,035

C. Uyemura & Co. Ltd.

27,497

63

-

-

22,008

Calian Technologies Ltd.

13,632

-

-

140

14,427

Career Education Corp.

112,378

2,190

1,349

-

81,561

Cascade Corp.

37,301

1,556

3,893

95

32,745

Cathay General Bancorp

48,510

-

-

41

56,100

CE Franklin Ltd.

9,036

-

-

-

9,843

CEC Entertainment, Inc.

75,539

-

-

-

72,212

Center Financial Corp.

11,223

70

-

-

11,407

Chase Corp.

11,995

138

-

302

13,700

Chime Communications PLC

11,617

634

-

129

14,996

Chuoh Pack Industry Co. Ltd.

1,816

467

-

31

2,426

CKD Corp.

36,338

-

-

364

38,822

ClearOne Communications, Inc.

3,032

-

-

-

3,552

Clip Corp.

2,676

-

-

-

2,853

Columbus McKinnon Corp. (NY Shares)

19,504

-

1,029

-

20,725

Cosmos Pharmaceutical Corp.

46,118

-

-

-

57,604

Coventry Health Care, Inc.

289,015

961

-

-

342,415

CRA International, Inc.

12,492

1,628

-

-

13,988

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Craftmade International, Inc.

$ 3,278

$ -

$ -

$ -

$ 3,050

Create SD Holdings Co. Ltd.

42,372

1,586

-

-

45,254

CSE Global Ltd.

28,135

101

-

-

32,743

Cybernet Systems Co. Ltd.

6,540

-

-

29

5,243

D.R. Horton, Inc.

267,786

-

-

911

253,692

Daewon Pharmaceutical Co. Ltd.

6,931

-

-

-

9,459

Daiichi Kensetsu Corp.

13,283

-

-

-

12,024

DCC PLC (Ireland)

204,161

-

-

-

240,047

Deepak Fertilisers and Petrochemicals Corp. Ltd.

16,440

412

-

-

21,320

Delta Apparel, Inc.

12,587

-

-

-

11,010

Deswell Industries, Inc.

3,327

-

-

-

2,819

Diodes, Inc.

65,420

-

-

-

81,332

Ditech Networks, Inc.

2,684

-

29

-

3,089

Divestco, Inc.

3,349

-

-

2,263

949

Dongyang Engineering & Construction Corp.

2,068

133

-

-

2,301

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

75,260

16,675

-

290

-

ebix.com, Inc.

29,234

-

-

-

43,472

EcoGreen Fine Chemical Group Ltd.

11,445

407

-

-

15,526

Educational Development Corp.

2,074

-

-

46

2,329

Elematec Corp.

19,478

-

-

277

21,085

ELMOS Semiconductor AG

12,533

-

3,337

-

-

Endurance Specialty Holdings Ltd.

100,334

-

-

650

107,640

EOH Holdings Ltd.

5,112

3,900

-

260

10,715

Exactech, Inc.

11,046

321

362

-

11,384

Excel Co. Ltd.

10,590

-

-

151

9,474

Farstad Shipping ASA

67,630

15,137

-

-

80,910

Federal Screw Works

443

-

-

-

555

First Juken Co. Ltd.

6,017

1,389

-

106

7,442

Folli Follie SA

43,160

7,167

-

264

53,571

Food Empire Holdings Ltd.

13,226

-

-

-

16,962

Foremost Income Fund

12,081

-

-

176

12,071

Fornix Biosciences NV

2,817

-

-

1,740

1,534

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Fossil, Inc.

$ 261,360

$ -

$ 16,910

$ -

$ 371,637

Fresh Del Monte Produce, Inc.

132,540

-

-

-

140,745

Fujikura Kasei Co., Ltd.

17,754

-

-

223

17,345

Fursys, Inc.

15,635

1,234

-

-

17,556

Fyffes PLC (Ireland)

15,484

-

-

236

14,005

Gennum Corp.

18,864

214

-

81

19,528

Genworth MI Canada, Inc.

148,054

-

-

1,038

154,966

Gildan Activewear, Inc.

353,855

-

5,475

-

325,627

Glentel, Inc.

15,891

-

-

81

21,840

Goodfellow, Inc.

9,204

-

-

-

9,747

Group 1 Automotive, Inc.

49,896

-

-

-

63,468

Gulliver International Co. Ltd.

49,176

-

-

341

48,838

Halows Co. Ltd.

9,822

528

-

-

10,407

Hampshire Group Ltd.

4,186

-

-

-

3,680

Handsome Co. Ltd.

33,677

-

-

-

35,421

Hankook Shell Oil Co. Ltd.

10,387

-

303

-

13,939

Hardinge, Inc.

5,129

-

-

3

4,838

Health Net, Inc.

153,075

-

56,711

-

-

Healthspring, Inc.

90,240

5,543

-

-

148,869

Healthways, Inc.

24,432

260

-

-

18,183

Heartland Payment Systems, Inc.

41,817

13,130

-

27

50,504

Helen of Troy Ltd.

67,807

455

-

-

73,103

Henry Boot PLC

15,208

-

-

231

15,363

Honeys Co. Ltd.

31,038

-

3,002

-

22,904

Honshu Chemical Industry Co., Ltd.

3,645

-

-

46

4,445

Hornbeck Offshore Services, Inc.

22,299

3,188

-

-

33,916

Horsehead Holding Corp.

20,299

-

-

-

28,965

Hoshiiryou Sanki Co. Ltd.

5,419

361

-

56

6,535

HTL International Holdings Ltd.

13,084

-

-

219

15,810

Hurco Companies, Inc.

10,858

-

-

-

11,850

Hutech Norin Co. Ltd.

8,828

-

-

115

8,884

Hwacheon Machine Tool Co. Ltd.

6,805

-

-

-

8,018

ICT Automatisering NV

4,729

-

-

-

5,521

Ildong Pharmaceutical Co. Ltd.

15,483

-

-

-

16,374

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Image Sensing Systems, Inc.

$ 4,214

$ -

$ -

$ -

$ 4,057

Indra Sistemas SA

169,160

48,936

-

-

258,334

Innospec, Inc.

22,275

-

280

-

33,860

Inoue Kinzoku Kogyo Co. Ltd.

3,731

-

-

30

4,357

Insteel Industries, Inc.

9,458

2,879

-

41

11,691

Intage, Inc.

20,265

-

-

-

20,691

Intelligent Digital Integrated Security Co., Ltd.

12,610

12

-

-

16,481

Inter Parfums, Inc.

32,283

-

2,647

120

29,733

INTOPS Co. Ltd.

14,650

-

-

-

17,588

INZI Controls Co. Ltd.

5,524

-

-

-

8,197

Isewan Terminal Service Co. Ltd.

6,779

-

-

130

7,731

j2 Global Communications, Inc.

88,563

998

-

-

100,395

Jack in the Box, Inc.

135,518

-

-

-

152,138

Jackson Hewitt Tax Service, Inc.

2,409

-

-

-

2,148

JAKKS Pacific, Inc.

44,076

-

-

-

52,651

Jaya Holdings Ltd.

33,957

2,179

-

-

40,672

Jeil Pharmaceutical Co.

7,004

1,417

-

-

10,956

JLM Couture, Inc.

296

-

-

-

296

Jos. A. Bank Clothiers, Inc.

107,091

-

-

-

119,355

Jumbo SA

59,628

-

-

-

57,710

KEC Holdings Co. Ltd.

2,285

-

-

-

2,316

Kinetic Concepts, Inc.

94,288

54,204

-

-

160,037

Knoll, Inc.

65,717

53

-

94

71,117

Know IT AB

7,144

3,027

-

-

12,499

Kohsoku Corp.

14,225

1,768

-

183

17,367

Kondotec, Inc.

6,908

-

-

144

7,096

Korea Electric Terminal Co. Ltd.

11,541

-

-

-

12,823

Korea Information Service, Inc.

4,677

-

-

-

6,915

KSK Co., Ltd.

3,420

241

-

-

3,434

KunWha Pharmaceutical Co., Ltd.

3,325

-

-

-

3,743

Kyeryong Construction Industrial Co. Ltd.

10,684

-

-

-

15,049

Kyoto Kimono Yuzen Co. Ltd.

10,797

560

-

146

12,380

LifePoint Hospitals, Inc.

95,821

-

17,250

-

-

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Lincare Holdings, Inc.

$ 319,656

$ -

$ -

$ 2,691

$ 352,752

M/I Homes, Inc.

19,026

-

-

-

19,080

MAIR Holdings, Inc.

0

-

-

-

0

MarineMax, Inc.

10,833

-

-

-

10,662

Maruzen Co., Ltd.

7,313

679

-

131

8,019

Mastek Ltd.

11,403

-

-

55

9,313

McCormick & Schmick's Seafood Restaurants

8,613

-

342

-

9,369

Medical Action Industries, Inc.

22,390

-

-

-

16,212

Mega First Corp. Bhd

9,001

2,367

-

93

12,308

Melbourne IT Ltd.

3,932

10,983

-

160

14,036

Melexis NV

41,290

-

-

1,172

58,316

Mesa Laboratories, Inc.

7,604

-

-

35

8,176

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

467,028

-

-

3,050

501,352

Michang Oil Industrial Co. Ltd.

6,785

-

-

-

8,722

Miller Industries, Inc.

8,290

-

561

-

-

Mitie Group PLC

49,777

8,833

-

-

58,600

Molina Healthcare, Inc.

38,753

-

-

-

-

Monarch Casino & Resort, Inc.

13,845

-

-

-

15,015

Motonic Corp.

24,887

-

-

-

28,436

Movado Group, Inc.

20,499

-

-

-

20,283

Mr. Bricolage SA

8,777

2,508

-

-

12,479

Murakami Corp.

8,302

-

-

46

7,168

Nadex Co. Ltd.

2,444

104

-

43

2,237

NBTY, Inc.

247,896

-

252,599

-

-

NETGEAR, Inc.

84,824

-

826

-

107,835

New Frontier Media, Inc.

3,178

-

-

-

3,392

Next PLC

380,200

17,050

-

-

432,903

Nippo Ltd.

2,624

489

-

-

3,260

Nishimatsuya Chain Co. Ltd.

64,948

31

-

681

67,020

NN, Inc.

6,597

-

2,784

-

-

North Central Bancshares, Inc.

2,185

-

-

1

1,782

North Valley Bancorp

5,890

146

-

-

5,428

Nutraceutical International Corp.

18,010

-

-

-

18,582

Oil States International, Inc.

228,970

-

-

-

254,788

OM Group, Inc.

61,285

-

-

-

75,516

Optical Cable Corp.

1,606

-

-

-

1,729

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Orbotech Ltd.

$ 26,999

$ -

$ -

$ -

$ 23,838

Oriental Financial Group, Inc.

19,541

-

-

90

33,135

Oriental Watch Holdings Ltd.

6,142

-

-

111

11,167

P&F Industries, Inc.
Class A

776

-

-

-

726

Pacer International, Inc.

15,038

-

-

-

10,165

Pacific Premier Bancorp, Inc.

4,077

-

-

-

4,968

Pal Co. Ltd.

32,398

-

-

-

23,363

Papa John's International, Inc.

69,657

-

-

-

71,032

Parker Corp.

4,443

-

-

40

5,160

PetMed Express, Inc.

38,680

-

-

303

37,468

Physicians Formula Holdings, Inc.

4,046

-

-

-

4,298

Piolax, Inc.

19,150

198

-

139

20,233

Plenus Co. Ltd.

45,705

-

1,778

812

40,817

Prim SA

13,450

-

-

-

12,966

Progress Software Corp.

65,788

-

7,186

-

-

RCM Technologies, Inc.

6,669

-

-

-

6,565

Red Robin Gourmet Burgers, Inc.

32,713

-

-

-

31,119

Relo Holdings Corp.

12,676

2,650

-

-

15,161

RenaissanceRe Holdings Ltd.

177,382

-

-

775

186,806

Republic Airways Holdings, Inc.

15,625

-

-

-

23,225

ResCare, Inc.

17,072

-

-

-

23,001

Rex American Resources Corp.

20,994

-

-

-

21,701

Rimage Corp.

15,859

155

145

-

13,958

Rocky Brands, Inc.

5,898

-

-

-

6,786

Rocky Mountain Chocolate Factory, Inc.

4,740

-

-

50

4,800

Ross Stores, Inc.

329,125

-

-

1,000

368,688

Ruby Tuesday, Inc.

65,122

-

-

-

77,102

Ruth's Hospitality Group, Inc.

9,483

-

-

-

10,703

Sakai Moving Service Co. Ltd.

16,519

-

-

215

16,813

Samsung Climate Control Co. Ltd.

2,746

-

-

-

3,252

Sanei-International Co. Ltd.

16,054

-

-

344

16,000

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

ScanSource, Inc.

$ 58,277

$ 691

$ 1,657

$ -

$ 62,462

Secom Techno Service Co. Ltd.

38,974

-

-

-

38,519

SED International Holdings, Inc.

1,235

-

-

-

1,306

Select Harvests Ltd.

5,762

3,622

-

180

9,495

Senshu Electric Co. Ltd.

10,634

-

-

123

9,663

Shibaura Electronics Co. Ltd.

11,355

-

-

-

9,300

Shinsegae Engineering & Construction Co. Ltd.

3,244

-

-

-

3,831

ShoLodge, Inc.

75

-

-

-

60

Sigmatron International, Inc.

2,032

-

-

-

2,108

SinoCom Software Group Ltd.

10,378

47

211

-

7,866

SJM Co. Ltd.

3,974

-

-

-

4,399

SJM Holdings Co. Ltd.

2,069

1,035

-

-

4,485

SMART Modular Technologies (WWH), Inc.

33,544

400

-

-

46,261

Societe Pour L'Informatique Industrielle SA

4,740

1,683

-

63

6,860

Softbank Technology Corp.

4,932

78

-

-

4,540

Soken Chemical & Engineer Co. Ltd.

13,022

-

-

-

10,484

Sonic Corp.

53,821

385

-

-

54,727

Span-America Medical System, Inc.

4,253

213

-

27

3,755

Spectrum Control, Inc.

14,224

-

10,545

-

-

Sportscene Group, Inc. Class A

4,669

-

-

-

5,197

Stanley Furniture Co., Inc.

3,736

-

-

-

3,765

Stantec, Inc.

61,824

-

3,490

-

69,103

Steiner Leisure Ltd.

70,142

-

-

-

63,971

Step Co. Ltd.

4,801

-

-

179

4,809

Strattec Security Corp.

7,140

-

-

411

10,493

Strongco Corp.

2,766

-

-

-

2,859

Sun Hing Vision Group Holdings Ltd.

10,170

-

-

354

10,500

Sunjin Co. Ltd.

6,926

-

-

-

8,888

Super Micro Computer, Inc.

33,642

-

-

-

25,907

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Swift Energy Co.

$ 90,765

$ -

$ 13,628

$ -

$ 95,552

Syneron Medical Ltd.

32,847

-

-

-

37,473

SYNNEX Corp.

91,216

48

-

-

100,435

Tejon Ranch Co.

21,746

-

-

-

-

Telechips, Inc.

6,867

-

-

-

8,436

The Men's Wearhouse, Inc.

58,380

11,412

9,862

324

78,208

The Pack Corp.

30,723

1,403

-

-

31,351

The PMI Group, Inc.

38,775

-

-

-

41,501

Theragenics Corp.

3,999

-

-

-

4,032

Tohoku Steel Co. Ltd.

5,645

-

-

59

6,071

Token Corp.

16,672

9,761

-

-

28,129

Tokyo Kisen Co. Ltd.

4,432

-

-

-

4,822

Tokyo Tekko Co. Ltd.

11,231

-

-

102

9,203

Tomen Electronics Corp.

17,596

-

-

247

18,509

Total Energy Services, Inc.

23,153

-

-

69

25,230

Total System Services, Inc.

196,076

19,574

-

1,017

226,738

Tow Co. Ltd.

6,368

-

-

-

6,991

Trancom Co. Ltd.

18,755

-

-

-

17,153

Trifast PLC

4,243

-

-

-

5,597

Trio-Tech International

1,293

-

-

-

1,900

Triple-S Management Corp.

24,729

7,726

-

-

29,029

Tuesday Morning Corp.

15,771

3

-

-

17,330

Tungtex Holdings Co. Ltd.

4,050

-

-

212

4,002

Twin Disc, Inc.

7,599

-

8,644

41

-

UANGEL Corp.

4,860

-

-

-

4,695

UKC Holdings Corp.

12,576

5,956

-

-

15,713

Uni-Select, Inc.

53,679

-

-

190

51,415

Unit Corp.

147,242

7,753

-

-

150,055

United Stationers, Inc.

65,834

-

-

-

68,326

Universal Security Instruments, Inc.

1,375

-

-

-

1,556

Universal Stainless & Alloy Products, Inc.

9,689

-

696

-

11,576

Up, Inc.

4,578

-

107

-

5,126

US 1 Industries, Inc.

1,262

112

-

-

1,512

USEC, Inc.

47,558

-

23,444

-

-

USS Co. Ltd.

150,419

-

-

2,010

155,586

Utah Medical Products, Inc.

11,436

-

-

108

13,119

Varitronix International Ltd.

9,992

-

-

229

12,350

Venture Corp. Ltd.

156,436

-

-

-

162,748

W&T Offshore, Inc.

58,714

-

-

255

69,360

Affiliates
(Amounts in thousands)

Value, beginning of period

Purchases

Sales Proceeds

Dividend Income

Value, end of period

Whanin Pharmaceutical Co. Ltd.

$ 10,851

$ -

$ -

$ -

$ 11,893

Win International Co., Ltd.

4,260

565

-

-

4,993

Winland Electronics, Inc.

257

-

-

-

252

Wireless Telecom Group, Inc.

1,308

-

-

-

1,232

Workman Co. Ltd.

21,548

590

-

-

22,653

XAC Automation Corp.

6,242

-

569

-

5,865

Xyratex Ltd.

37,671

269

1,052

-

44,118

Yip's Chemical Holdings Ltd.

34,407

-

-

874

40,445

Young Innovations, Inc.

21,121

-

-

32

21,967

Youngone Holdings Co. Ltd.

19,584

-

-

-

24,604

Yusen Logistics Co. Ltd.

62,425

-

-

420

58,441

Yutaka Giken Co. Ltd.

29,626

878

-

227

29,333

Total

$ 12,224,834

$ 331,765

$ 489,590

$ 39,916

$ 12,606,580

Other Information

The following is a summary of the inputs used, as of October 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description
(Amounts in thousands)

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 7,763,087

$ 7,762,532

$ -

$ 555

Consumer Staples

2,500,115

2,500,115

-

-

Energy

1,862,973

1,634,480

228,493

-

Financials

2,738,396

2,486,500

244,821

7,075

Health Care

3,807,564

3,807,564

-

-

Industrials

2,433,755

2,431,458

-

2,297

Information Technology

5,193,248

5,193,248

-

-

Materials

1,330,120

1,318,763

10,810

547

Telecommunication Services

92,031

92,031

-

-

Utilities

64,435

64,435

-

-

Corporate Bonds

45,484

-

45,484

-

Money Market Funds

3,586,334

3,586,334

-

-

Total Investments in Securities:

$ 31,417,542

$ 30,877,460

$ 529,608

$ 10,474

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

$ 157

Total Realized Gain (Loss)

(24,445)

Total Unrealized Gain (Loss)

26,452

Cost of Purchases

104

Proceeds of Sales

(8)

Amortization/Accretion

-

Transfers in to Level 3

8,214

Transfers out of Level 3

-

Ending Balance

$ 10,474

The change in unrealized gain (loss) for the period attributable to Level 3 securities held at October 31, 2010

$ 2,001

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

Income Tax Information

At October 31, 2010, the cost of investment securities for income tax purposes was $23,317,361,000. Net unrealized appreciation aggregated $8,100,181,000, of which $10,343,368,000 related to appreciated investment securities and $2,243,187,000 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 fair 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

October 31, 2010 

1.809083.106

FVD-QTLY-1210

Investments October 31, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.4%

Shares

Value

CONSUMER DISCRETIONARY - 12.2%

Auto Components - 0.5%

Modine Manufacturing Co. (a)

101,500

$ 1,372,280

Tenneco, Inc. (a)

56,400

1,839,768

 

3,212,048

Automobiles - 0.6%

Bayerische Motoren Werke AG (BMW)

48,073

3,445,564

Hotels, Restaurants & Leisure - 1.3%

Brinker International, Inc.

1,300

24,102

Starwood Hotels & Resorts Worldwide, Inc.

45,400

2,457,956

The Cheesecake Factory, Inc. (a)

48,500

1,412,320

WMS Industries, Inc. (a)

54,900

2,395,287

Wyndham Worldwide Corp.

71,600

2,058,500

 

8,348,165

Household Durables - 3.5%

D.R. Horton, Inc.

515,370

5,380,463

Lennar Corp. Class A

272,400

3,952,524

PulteGroup, Inc. (a)

669,862

5,258,417

Stanley Black & Decker, Inc.

115,490

7,156,915

 

21,748,319

Media - 2.9%

The Walt Disney Co.

213,571

7,712,049

Time Warner Cable, Inc.

63,700

3,686,319

Virgin Media, Inc.

279,190

7,099,802

 

18,498,170

Specialty Retail - 1.9%

Advance Auto Parts, Inc.

49,300

3,203,514

Best Buy Co., Inc.

51,400

2,209,172

Group 1 Automotive, Inc. (a)

22,400

789,824

Lowe's Companies, Inc.

141,000

3,007,530

OfficeMax, Inc. (a)

87,200

1,543,440

TJX Companies, Inc.

29,900

1,372,111

 

12,125,591

Textiles, Apparel & Luxury Goods - 1.5%

Phillips-Van Heusen Corp.

61,916

3,797,927

Polo Ralph Lauren Corp. Class A

32,900

3,187,352

VF Corp.

32,700

2,721,948

 

9,707,227

TOTAL CONSUMER DISCRETIONARY

77,085,084

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - 8.0%

Beverages - 0.9%

Anheuser-Busch InBev SA NV

19,890

$ 1,246,386

The Coca-Cola Co.

67,500

4,139,100

 

5,385,486

Food & Staples Retailing - 1.7%

CVS Caremark Corp.

120,200

3,620,424

Kroger Co.

148,100

3,258,200

Susser Holdings Corp. (a)

58,290

796,824

Wal-Mart Stores, Inc.

24,100

1,305,497

Whole Foods Market, Inc. (a)

49,200

1,955,700

 

10,936,645

Household Products - 2.2%

Kimberly-Clark Corp.

49,300

3,122,662

Procter & Gamble Co.

165,800

10,539,906

 

13,662,568

Personal Products - 0.3%

Avon Products, Inc.

73,200

2,228,940

Tobacco - 2.9%

Philip Morris International, Inc.

262,100

15,332,850

Reynolds American, Inc.

42,700

2,771,230

 

18,104,080

TOTAL CONSUMER STAPLES

50,317,719

ENERGY - 11.0%

Energy Equipment & Services - 3.5%

Baker Hughes, Inc.

52,931

2,452,293

Ensco International Ltd. ADR

124,100

5,750,794

National Oilwell Varco, Inc.

110,100

5,918,976

Noble Corp.

158,300

5,466,099

Weatherford International Ltd. (a)

136,900

2,301,289

 

21,889,451

Oil, Gas & Consumable Fuels - 7.5%

Alpha Natural Resources, Inc. (a)

37,100

1,675,807

Apache Corp.

65,200

6,586,504

Chevron Corp.

210,100

17,356,359

Exxon Mobil Corp.

58,800

3,908,436

Frontier Oil Corp.

62,000

821,500

Holly Corp.

39,761

1,301,378

Marathon Oil Corp.

186,100

6,619,577

Common Stocks - continued

Shares

Value

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

Pioneer Natural Resources Co.

64,831

$ 4,525,204

Southwestern Energy Co. (a)

88,500

2,995,725

Sunoco, Inc.

43,300

1,622,451

 

47,412,941

TOTAL ENERGY

69,302,392

FINANCIALS - 22.6%

Capital Markets - 2.6%

Goldman Sachs Group, Inc.

49,445

7,958,173

Morgan Stanley

345,300

8,587,611

 

16,545,784

Commercial Banks - 5.8%

City National Corp.

28,760

1,483,153

Comerica, Inc.

49,600

1,774,688

Huntington Bancshares, Inc.

312,700

1,773,009

M&T Bank Corp. rights 11/30/10 (a)

12,300

917,949

PNC Financial Services Group, Inc.

47,600

2,565,640

Southwest Bancorp, Inc., Oklahoma

1,909

18,899

SunTrust Banks, Inc.

86,100

2,154,222

SVB Financial Group (a)

44,115

1,911,944

U.S. Bancorp, Delaware

488,300

11,807,094

Wells Fargo & Co.

465,072

12,129,078

 

36,535,676

Consumer Finance - 0.4%

Discover Financial Services

140,200

2,474,530

Diversified Financial Services - 5.9%

Bank of America Corp.

697,717

7,981,882

Citigroup, Inc. (a)

3,628,792

15,132,063

JPMorgan Chase & Co.

380,631

14,323,145

 

37,437,090

Insurance - 4.0%

AFLAC, Inc.

60,523

3,382,630

Allstate Corp.

85,000

2,591,650

Assured Guaranty Ltd.

64,100

1,221,105

Delphi Financial Group, Inc. Class A

90,300

2,444,421

Hartford Financial Services Group, Inc.

42,700

1,023,946

Lincoln National Corp.

150,284

3,678,952

Loews Corp.

84,200

3,324,216

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Insurance - continued

MetLife, Inc.

57,200

$ 2,306,876

Unum Group

36,400

816,088

XL Capital Ltd. Class A

215,300

4,553,595

 

25,343,479

Real Estate Investment Trusts - 2.4%

CBL & Associates Properties, Inc.

247,603

3,882,415

DiamondRock Hospitality Co.

214,746

2,272,013

Public Storage

19,900

1,974,478

Rayonier, Inc.

19,600

1,023,120

The Macerich Co.

82,359

3,674,035

Weyerhaeuser Co.

125,400

2,033,988

 

14,860,049

Real Estate Management & Development - 1.5%

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

387,800

7,116,130

Jones Lang LaSalle, Inc.

29,700

2,318,382

 

9,434,512

TOTAL FINANCIALS

142,631,120

HEALTH CARE - 11.7%

Biotechnology - 2.1%

Amgen, Inc. (a)

85,191

4,872,073

Anthera Pharmaceuticals, Inc.

32,300

202,521

ARIAD Pharmaceuticals, Inc. (a)

203,100

747,408

ArQule, Inc. (a)

62,800

346,656

BioMarin Pharmaceutical, Inc. (a)

38,000

994,080

Gilead Sciences, Inc. (a)

55,800

2,213,586

Keryx Biopharmaceuticals, Inc. (a)

159,400

822,504

Theravance, Inc. (a)

38,100

776,478

United Therapeutics Corp. (a)

23,100

1,386,000

ZIOPHARM Oncology, Inc. (a)

133,199

574,088

 

12,935,394

Health Care Equipment & Supplies - 0.6%

Abiomed, Inc. (a)

68,494

706,173

Cooper Companies, Inc.

34,200

1,687,428

Edwards Lifesciences Corp. (a)

8,000

511,280

Stryker Corp.

12,700

628,523

Wright Medical Group, Inc. (a)

42,100

561,614

 

4,095,018

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Health Care Providers & Services - 1.6%

CIGNA Corp.

97,600

$ 3,434,544

Emeritus Corp. (a)

65,050

1,213,183

Fresenius Medical Care AG & Co. KGaA sponsored ADR

11,400

725,496

Medco Health Solutions, Inc. (a)

75,281

3,954,511

Sunrise Senior Living, Inc. (a)

153,350

525,991

 

9,853,725

Health Care Technology - 0.1%

Allscripts-Misys Healthcare Solutions, Inc. (a)

34,800

664,332

Life Sciences Tools & Services - 0.6%

Covance, Inc. (a)

19,100

897,509

PAREXEL International Corp. (a)

64,700

1,391,050

PerkinElmer, Inc.

59,400

1,392,930

 

3,681,489

Pharmaceuticals - 6.7%

Ardea Biosciences, Inc. (a)

54,600

1,164,072

Cadence Pharmaceuticals, Inc. (a)

74,400

660,672

Cardiome Pharma Corp. (a)

45,640

232,250

Johnson & Johnson

190,456

12,126,334

Merck & Co., Inc.

359,731

13,051,041

Pfizer, Inc.

666,196

11,591,810

Teva Pharmaceutical Industries Ltd. sponsored ADR

44,900

2,330,310

Valeant Pharmaceuticals International, Inc.

40,700

1,126,144

 

42,282,633

TOTAL HEALTH CARE

73,512,591

INDUSTRIALS - 12.8%

Aerospace & Defense - 2.3%

DigitalGlobe, Inc. (a)

23,700

773,805

Precision Castparts Corp.

34,900

4,766,642

United Technologies Corp.

119,200

8,912,584

 

14,453,031

Airlines - 0.6%

Southwest Airlines Co.

187,494

2,579,917

United Continental Holdings, Inc. (a)

38,200

1,109,328

 

3,689,245

Common Stocks - continued

Shares

Value

INDUSTRIALS - continued

Building Products - 0.6%

Armstrong World Industries, Inc. (a)

39,500

$ 1,649,125

Owens Corning (a)

70,096

1,895,396

 

3,544,521

Commercial Services & Supplies - 0.3%

Republic Services, Inc.

31,600

941,996

Schawk, Inc. Class A

6,798

132,017

The Geo Group, Inc. (a)

35,900

920,835

 

1,994,848

Construction & Engineering - 0.2%

KBR, Inc.

41,500

1,054,100

Electrical Equipment - 0.8%

Regal-Beloit Corp.

87,496

5,049,394

Industrial Conglomerates - 1.7%

General Electric Co.

547,252

8,766,977

Textron, Inc.

108,200

2,252,724

 

11,019,701

Machinery - 3.0%

Cummins, Inc.

71,300

6,281,530

Danaher Corp.

101,000

4,379,360

Dover Corp.

24,100

1,279,710

Gardner Denver, Inc.

43,100

2,492,042

Pall Corp.

14,743

629,084

SPX Corp.

27,100

1,817,326

Timken Co.

57,000

2,360,940

 

19,239,992

Professional Services - 0.6%

Equifax, Inc.

43,500

1,441,155

Manpower, Inc.

38,200

2,090,686

 

3,531,841

Road & Rail - 2.7%

Con-way, Inc.

41,600

1,373,216

CSX Corp.

107,500

6,605,875

Union Pacific Corp.

104,100

9,127,488

 

17,106,579

TOTAL INDUSTRIALS

80,683,252

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - 8.4%

Communications Equipment - 1.9%

Adtran, Inc.

61,300

$ 1,978,151

Cisco Systems, Inc. (a)

235,301

5,371,922

Juniper Networks, Inc. (a)

66,946

2,168,381

QUALCOMM, Inc.

49,900

2,251,987

 

11,770,441

Electronic Equipment & Components - 1.3%

Amphenol Corp. Class A

14

702

Avnet, Inc. (a)

154,900

4,612,922

Tyco Electronics Ltd.

111,600

3,535,488

 

8,149,112

Internet Software & Services - 0.6%

eBay, Inc. (a)

128,200

3,821,642

IT Services - 0.7%

MasterCard, Inc. Class A

19,579

4,700,135

Office Electronics - 0.3%

Xerox Corp.

142,100

1,662,570

Semiconductors & Semiconductor Equipment - 3.0%

Advanced Micro Devices, Inc. (a)

360,800

2,644,664

ASML Holding NV

58,800

1,951,572

Avago Technologies Ltd. (a)

72,300

1,784,364

Intersil Corp. Class A

61,800

808,962

KLA-Tencor Corp.

42,820

1,529,530

Lam Research Corp. (a)

58,200

2,664,978

Linear Technology Corp.

41,487

1,337,126

Marvell Technology Group Ltd. (a)

56,400

1,089,084

ON Semiconductor Corp. (a)

433,850

3,327,630

Standard Microsystems Corp. (a)

68,878

1,662,715

Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR

36

393

 

18,801,018

Software - 0.6%

AsiaInfo Holdings, Inc. (a)

2,100

46,662

BMC Software, Inc. (a)

37,600

1,709,296

Oracle Corp.

70,783

2,081,020

 

3,836,978

TOTAL INFORMATION TECHNOLOGY

52,741,896

Common Stocks - continued

Shares

Value

MATERIALS - 3.8%

Chemicals - 2.4%

Albemarle Corp.

75,064

$ 3,762,958

CF Industries Holdings, Inc.

8,200

1,004,746

Clariant AG (Reg.) (a)

143,800

2,430,875

Praxair, Inc.

37,400

3,416,116

Solutia, Inc. (a)

206,400

3,737,904

Symrise AG

15,500

470,710

 

14,823,309

Containers & Packaging - 0.4%

Ball Corp.

25,200

1,621,872

Owens-Illinois, Inc. (a)

35,100

983,853

 

2,605,725

Metals & Mining - 1.0%

BHP Billiton Ltd. sponsored ADR

7,900

652,461

Carpenter Technology Corp.

42,700

1,522,682

Goldcorp, Inc.

25,100

1,120,751

Newcrest Mining Ltd.

35,628

1,394,723

Newmont Mining Corp.

18,800

1,144,356

Teck Resources Ltd. Class B (sub. vtg.)

14,000

625,944

 

6,460,917

TOTAL MATERIALS

23,889,951

TELECOMMUNICATION SERVICES - 5.7%

Diversified Telecommunication Services - 3.9%

AboveNet, Inc. (a)

73,053

4,155,985

AT&T, Inc.

190,700

5,434,950

Cbeyond, Inc. (a)

147,422

1,997,568

China Unicom (Hong Kong) Ltd. sponsored ADR

70,400

985,600

Iliad Group SA

7,493

843,474

Qwest Communications International, Inc.

770,000

5,082,000

Verizon Communications, Inc.

184,366

5,986,364

 

24,485,941

Wireless Telecommunication Services - 1.8%

American Tower Corp. Class A (a)

78,300

4,041,063

Leap Wireless International, Inc. (a)

1,500

17,115

Common Stocks - continued

Shares

Value

TELECOMMUNICATION SERVICES - continued

Wireless Telecommunication Services - continued

SBA Communications Corp. Class A (a)

50,300

$ 1,974,778

Sprint Nextel Corp. (a)

1,333,300

5,493,196

 

11,526,152

TOTAL TELECOMMUNICATION SERVICES

36,012,093

UTILITIES - 3.2%

Electric Utilities - 2.6%

American Electric Power Co., Inc.

134,300

5,028,192

FirstEnergy Corp.

115,400

4,191,328

PPL Corp.

280,603

7,548,221

 

16,767,741

Independent Power Producers & Energy Traders - 0.6%

Calpine Corp. (a)

298,900

3,736,250

TOTAL UTILITIES

20,503,991

TOTAL COMMON STOCKS

(Cost $573,003,040)

626,680,089

TOTAL INVESTMENT PORTFOLIO - 99.4%

(Cost $573,003,040)

626,680,089

NET OTHER ASSETS (LIABILITIES) - 0.6%

3,520,597

NET ASSETS - 100%

$ 630,200,686

Legend

(a) Non-income producing

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

$ 363

Fidelity Securities Lending Cash Central Fund

524

Total

$ 887

Other Information

The following is a summary of the inputs used, as of October 31, 2010, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:

Description

Total

Level 1

Level 2

Level 3

Investments in Securities:

Equities:

Consumer Discretionary

$ 77,085,084

$ 77,085,084

$ -

$ -

Consumer Staples

50,317,719

50,317,719

-

-

Energy

69,302,392

69,302,392

-

-

Financials

142,631,120

141,713,171

917,949

-

Health Care

73,512,591

73,512,591

-

-

Industrials

80,683,252

80,683,252

-

-

Information Technology

52,741,896

52,741,896

-

-

Materials

23,889,951

23,889,951

-

-

Telecommunication Services

36,012,093

36,012,093

-

-

Utilities

20,503,991

20,503,991

-

-

Total Investments in Securities:

$ 626,680,089

$ 625,762,140

$ 917,949

$ -

Income Tax Information

At October 31, 2010, the cost of investment securities for income tax purposes was $591,277,683. Net unrealized appreciation aggregated $35,402,406, of which $76,997,877 related to appreciated investment securities and $41,595,471 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 fair 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:

December 30, 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:

December 30, 2010

By:

/s/Christine Reynolds

 

Christine Reynolds

 

Chief Financial Officer

 

 

Date:

December 30, 2010