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)

Eric D. Roiter, 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, 2006

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Low-Priced Stock Fund

October 31, 2006

LPS-QTLY-1206

1.809099.102

Investments October 31, 2006 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 90.7%

Shares

Value
(000s)

CONSUMER DISCRETIONARY - 24.4%

Auto Components - 1.4%

American Axle & Manufacturing Holdings, Inc. (d)(e)

5,016,300

$ 94,056

ArvinMeritor, Inc. (e)

7,057,100

105,998

Brembo Spa

100,000

1,167

Drew Industries, Inc. (a)(e)

1,844,600

50,081

FCC Co. Ltd. (d)

650,000

14,950

Federal Screw Works (e)

156,250

2,305

Halla Climate Control Co.

315,000

3,644

INZI Controls Co. Ltd. (e)

919,357

7,367

Johnson Controls, Inc.

2,200,000

179,388

Motonic Corp.

78,310

3,449

Murakami Corp. (e)

750,000

6,220

Musashi Seimitsu Industry Co. Ltd. (d)

200,000

5,062

Owari Precise Products Co. Ltd.

140,000

583

Piolax, Inc. (e)

800,000

13,919

Samsung Climate Control Co. Ltd.

330,050

2,452

Sewon Precision Industries Co. Ltd.

41,860

1,573

Stoneridge, Inc. (a)(e)

2,000,406

14,243

Strattec Security Corp. (a)(e)

500,000

19,325

Tachi-S Co. Ltd.

500,800

3,807

Tower Automotive, Inc. (a)

2,000,000

125

Toyota Auto Body Co. Ltd.

150,000

2,603

Yutaka Giken Co. Ltd.

418,600

11,310

543,627

Automobiles - 0.1%

Glendale International Corp. (a)

370,300

1,006

Monaco Coach Corp. (e)

1,664,819

19,878

National R.V. Holdings, Inc. (a)

257,281

798

21,682

Distributors - 0.2%

Advanced Marketing Services, Inc. (a)(e)

1,877,800

5,352

Compania de Distribucion Integral Logista SA

500,000

28,272

Computerlinks AG

10,000

168

Educational Development Corp. (e)

372,892

2,547

Goodfellow, Inc. (e)

400,000

9,620

Medion AG (d)

375,000

3,987

Strongco Income Fund (d)

400,000

5,530

Uni-Select, Inc.

878,500

22,881

78,357

Common Stocks - continued

Shares

Value
(000s)

CONSUMER DISCRETIONARY - continued

Diversified Consumer Services - 1.0%

Career Education Corp. (a)(e)

9,818,386

$ 218,754

Corinthian Colleges, Inc. (a)

4,000,000

49,000

Jackson Hewitt Tax Service, Inc.

10,000

346

Johnan Academic Preparatory Institute, Inc.

100,000

259

Kyoshin Co. Ltd.

130,000

489

Matthews International Corp. Class A

902,466

34,673

Meiko Network Japan Co. Ltd.

250,000

1,278

Shingakukai Co. Ltd.

200,000

1,469

Shuei Yobiko Co. Ltd.

75,000

1,014

Steiner Leisure Ltd. (a)(e)

1,670,000

76,219

Up, Inc. (e)

660,000

4,131

Wao Corp.

100,000

301

387,933

Hotels, Restaurants & Leisure - 3.5%

Applebee's International, Inc. (d)(e)

8,250,000

188,265

ARK Restaurants Corp.

121,891

3,397

Brinker International, Inc. (e)

4,600,000

213,578

CEC Entertainment, Inc. (a)(e)

3,700,000

127,539

Domino's Pizza UK & IRL PLC

75,000

739

Domino's Pizza, Inc.

1,375,000

37,373

Enterprise Inns PLC

1,000,000

20,563

Flanigan's Enterprises, Inc.

83,900

924

Gondola Holdings PLC

3,286,069

25,731

Jack in the Box, Inc. (a)(e)

3,550,000

199,191

Monarch Casino & Resort, Inc. (a)

828,598

18,378

Multimedia Games, Inc. (a)(d)(e)

2,249,950

21,127

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

2,650,000

97,255

Punch Taverns Ltd.

350,000

6,870

Ruby Tuesday, Inc. (e)

6,372,030

176,824

Ruth's Chris Steak House, Inc. (a)

100,000

1,969

Ryan's Restaurant Group, Inc. (a)(e)

3,922,900

63,590

Sonic Corp. (a)(e)

5,000,000

113,750

Sportscene Group, Inc. Class A (e)

406,500

5,812

1,322,875

Household Durables - 6.6%

Abbey PLC (e)

3,407,000

41,965

Barratt Developments PLC (e)

23,958,099

494,932

Beazer Homes USA, Inc. (d)(e)

2,000,000

86,680

Bellway PLC (e)

9,000,000

231,246

Common Stocks - continued

Shares

Value
(000s)

CONSUMER DISCRETIONARY - continued

Household Durables - continued

Blyth, Inc. (e)

4,000,000

$ 95,680

Chitaly Holdings Ltd.

1,634,000

237

Chromcraft Revington, Inc. (a)(e)

957,300

9,094

Craftmade International, Inc. (e)

311,956

6,130

D.R. Horton, Inc. (d)(e)

31,311,552

733,630

Decorator Industries, Inc. (e)

243,515

2,131

Dominion Homes, Inc. (a)(d)(e)

820,000

5,182

Helen of Troy Ltd. (a)(e)

3,000,200

73,835

Henry Boot PLC (e)

2,515,000

49,053

Hovnanian Enterprises, Inc. Class A (e)

6,172,200

190,412

HTL International Holdings Ltd. (e)

26,512,500

20,088

Lenox Group, Inc. (a)(e)

1,390,500

8,357

Libbey, Inc. (d)(e)

1,404,800

16,155

M.D.C. Holdings, Inc.

100,000

4,986

M/I Homes, Inc. (e)

1,730,000

62,142

Meritage Homes Corp. (a)

1,050,000

48,069

MITY Enterprises, Inc. (a)

70,035

1,240

Ngai Lik Industrial Holdings Ltd. (e)

52,404,000

5,121

P&F Industries, Inc. Class A (a)(e)

358,249

4,424

Redrow PLC

500,000

5,861

Standard Pacific Corp.

2,750,000

66,633

Stanley Furniture Co., Inc. (e)

1,300,000

28,743

Techtronic Industries Co. Ltd.

18,000,000

25,505

Toso Co. Ltd.

300,000

859

Tsann Kuen Enterprise Co. Ltd.

6,000,600

5,065

Yankee Candle Co., Inc. (e)

4,540,000

153,679

2,477,134

Internet & Catalog Retail - 0.1%

Belluna Co. Ltd. (d)

952,700

14,523

PetMed Express, Inc. (a)

450,100

5,626

20,149

Leisure Equipment & Products - 0.5%

Asia Optical Co., Inc.

1,617,011

6,897

JAKKS Pacific, Inc. (a)(e)

1,771,063

38,414

Johnson Health Tech Co. Ltd.

1,366,365

9,535

Jumbo SA

1,320,120

22,748

Marine Products Corp. (e)

3,882,300

41,385

MarineMax, Inc. (a)

5,000

143

Pool Corp.

900,000

36,882

Common Stocks - continued

Shares

Value
(000s)

CONSUMER DISCRETIONARY - continued

Leisure Equipment & Products - continued

Premier Image Technology Corp.

1,545,000

$ 2,929

RC2 Corp. (a)

129,950

5,871

Trigano SA

100,000

4,698

Western Metals Corp. (e)

713,200

200

169,702

Media - 0.7%

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

270,000

9,601

Carrere Group (a)

55,000

1,459

CBS Corp. Class B

1,000,000

28,940

Championship Auto Racing Teams, Inc. (e)

1,471,600

0

Chime Communications PLC (e)

14,500,000

13,414

Cossette Communication Group, Inc. (sub. vtg.) (a)

390,500

2,783

EchoStar Communications Corp. Class A (a)

350,000

12,432

Johnston Press PLC

13,950,927

111,435

Saga Communications, Inc. Class A (a)(e)

1,809,800

15,202

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

2,086,100

26,628

Westwood One, Inc. (e)

5,053,774

39,975

261,869

Multiline Retail - 3.2%

Conn's, Inc. (a)(d)

725,568

17,428

Daiwa Co. Ltd.

289,000

786

Dollar General Corp. (d)(e)

31,195,620

437,675

Dollar Tree Stores, Inc. (a)(e)

5,632,422

175,112

Don Quijote Co. Ltd.

75,000

1,597

Gifi (a)(d)

70,000

2,626

Harvey Norman Holdings Ltd.

12,000,000

33,629

Next PLC (e)

14,300,000

512,812

Thanks Japan Corp.

235,000

1,312

Tuesday Morning Corp.

1,000,000

16,500

1,199,477

Specialty Retail - 4.3%

ARB Corp. Ltd.

500,000

1,374

AutoZone, Inc. (a)

955,400

107,005

Bed Bath & Beyond, Inc. (a)

9,800,000

394,842

Big 5 Sporting Goods Corp.

143,210

3,443

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

3,150,000

51,880

Bricorama SA

30,000

1,723

Camaieu SA (d)

10,000

2,672

Chico's FAS, Inc. (a)

50,000

1,197

Common Stocks - continued

Shares

Value
(000s)

CONSUMER DISCRETIONARY - continued

Specialty Retail - continued

Claire's Stores, Inc.

2,025,000

$ 57,409

Clinton Cards PLC

5,000,000

6,247

Finlay Enterprises, Inc. (a)(e)

988,722

6,812

Footstar, Inc. (a)(e)

2,016,000

9,999

French Connection Group PLC

4,500,000

18,112

Friedmans, Inc. Class A (a)(e)

1,500,000

0

Genesco, Inc. (e)

2,328,700

87,489

Glentel, Inc. (a)

90,200

591

Group 1 Automotive, Inc.

600,000

34,386

Hot Topic, Inc. (a)(e)

2,500,009

25,275

JB Hi-Fi Ltd. (d)

100,000

438

JJB Sports PLC

3,700,000

14,680

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

906,876

26,925

Komplett ASA (e)

994,950

16,743

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

332,300

12,876

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

1,228,700

31,332

Lowe's Companies, Inc.

1,750,000

52,745

Monro Muffler Brake, Inc. (e)

740,027

28,069

Monsoon PLC (a)

4,100,000

31,107

Mothers Work, Inc. (a)(e)

460,000

23,322

Mr. Bricolage SA

299,961

6,700

Nishimatsuya Chain Co. Ltd.

100,000

1,954

O'Reilly Automotive, Inc. (a)

250,000

8,073

Osim International Ltd.

10,000,720

10,852

Pacific Sunwear of California, Inc. (a)(e)

7,549,800

133,027

Pomeroy IT Solutions, Inc. (a)(e)

1,290,645

10,945

Rent-A-Center, Inc. (a)(d)

1,199,966

34,511

Rex Stores Corp. (a)(e)

1,400,000

23,506

RONA, Inc. (a)

375,000

7,616

Ross Stores, Inc.

5,000,000

147,150

ScS Upholstery PLC (e)

2,438,000

24,427

Sincere Watch Ltd.

1,659,000

1,007

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

3,041,000

79,978

The Cato Corp. Class A (sub. vtg.)

790,010

18,083

Topps Tiles PLC

3,037,500

14,456

Williams-Sonoma, Inc.

1,220,000

41,492

1,612,470

Textiles, Apparel & Luxury Goods - 2.8%

Bijou Brigitte Modische Accessoires AG

30,000

6,203

Billabong International Ltd.

1,000,000

12,139

Common Stocks - continued

Shares

Value
(000s)

CONSUMER DISCRETIONARY - continued

Textiles, Apparel & Luxury Goods - continued

Cherokee, Inc. (e)

556,613

$ 22,270

Danier Leather, Inc. (sub. vtg.)

382,000

2,127

Delta Apparel, Inc. (e)

859,700

15,904

Folli Follie SA

700,000

21,086

Fossil, Inc. (a)(e)

7,114,000

155,370

Gildan Activewear, Inc. Class A (a)(e)

4,200,000

213,844

Hampshire Group Ltd. (a)(e)

939,557

12,769

Handsome Co. Ltd.

1,491,230

24,531

JLM Couture, Inc. (a)(e)

197,100

493

K-Swiss, Inc. Class A

962,429

33,993

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

1,211,100

30,798

Liz Claiborne, Inc.

4,269,300

180,036

Marimekko Oyj

200,000

3,714

Movado Group, Inc.

700,000

18,025

Quiksilver, Inc. (a)(e)

11,983,000

167,163

Rocky Brands, Inc. (a)(e)

538,458

6,903

Ted Baker PLC

350,000

3,480

Timberland Co. Class A (a)(e)

3,467,300

100,032

Van de Velde

150,000

6,873

1,037,753

TOTAL CONSUMER DISCRETIONARY

9,133,028

CONSUMER STAPLES - 7.3%

Beverages - 1.6%

Baron de Ley SA (a)

200,000

11,296

C&C Group PLC

3,000,000

49,856

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

14,000,000

384,860

Hansen Natural Corp. (a)(d)

3,750,016

119,063

PepsiAmericas, Inc.

1,979,908

40,489

605,564

Food & Staples Retailing - 4.0%

BJ's Wholesale Club, Inc. (a)(e)

7,000,000

200,550

Central European Distribution Corp. (a)

600,033

15,229

CVS Corp.

4,200,000

131,796

Majestic Wine PLC

50,016

301

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

9,687,700

300,818

Ozeki Co. Ltd.

540,000

16,159

President Chain Store Corp.

4,000,600

8,827

Safeway, Inc. (e)

25,000,000

734,000

Common Stocks - continued

Shares

Value
(000s)

CONSUMER STAPLES - continued

Food & Staples Retailing - continued

San-A Co. Ltd.

100,000

$ 3,326

Sligro Food Group NV

692,763

41,117

Sundrug Co. Ltd. (d)

900,000

20,622

Tsuruha Holdings, Inc.

55,000

2,173

Village Super Market, Inc. Class A

39,135

2,700

Welcia Kanto Co. Ltd.

6,900

195

Yaoko Co. Ltd.

100,000

2,373

1,480,186

Food Products - 1.3%

American Italian Pasta Co. Class A (a)(d)(e)

1,843,000

13,804

Cagle's, Inc. Class A (a)(e)

474,000

3,797

Chiquita Brands International, Inc.

1,000,010

13,700

Diamond Foods, Inc.

250,039

4,258

Food Empire Holdings Ltd.

3,608,000

1,216

Fresh Del Monte Produce, Inc. (e)

5,803,800

90,481

Greggs PLC

125,000

9,895

IAWS Group PLC (Ireland)

4,250,000

93,576

Imperial Sugar Co. (d)

410,000

10,877

Industrias Bachoco SA de CV sponsored ADR

2,515,000

52,237

Interstate Bakeries Corp. (a)(e)

2,848,716

8,005

Kerry Group PLC Class A

700,000

16,914

Monterey Gourmet Foods, Inc. (a)

769,524

3,324

People's Food Holdings Ltd.

11,000,000

8,264

Robert Wiseman Dairies PLC

100,000

826

Samyang Genex Co. Ltd.

120,000

10,048

Saputo, Inc.

1,000,000

32,290

Select Harvests Ltd.

100,318

1,006

Singapore Food Industries Ltd.

3,500,000

2,090

Smithfield Foods, Inc. (a)

1,961,000

52,712

Sunjin Co. Ltd. (e)

219,400

8,429

United Food Holdings Ltd.

22,400,000

2,949

Want Want Holdings Ltd.

13,500,000

24,165

464,863

Household Products - 0.0%

Church & Dwight Co., Inc.

265,400

10,767

Personal Products - 0.0%

CCA Industries, Inc.

10,000

103

DSG International Ltd. (a)

223,400

0

Nature's Sunshine Products, Inc.

629,203

6,732

Common Stocks - continued

Shares

Value
(000s)

CONSUMER STAPLES - continued

Personal Products - continued

NBTY, Inc. (a)

100,000

$ 2,782

Sarantis SA (Reg.)

100,000

970

10,587

Tobacco - 0.4%

Loews Corp. - Carolina Group

2,700,000

156,114

TOTAL CONSUMER STAPLES

2,728,081

ENERGY - 10.2%

Energy Equipment & Services - 2.4%

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

1,777,000

28,175

Basic Energy Services, Inc. (a)

1,100,000

26,884

Bristow Group, Inc. (a)(d)(e)

2,343,000

77,788

Calfrac Well Services Ltd.

144,800

2,669

Carbo Ceramics, Inc.

100,000

3,370

CCS Income Trust (d)

2,000,000

67,394

CHC Helicopter Corp. Class A (sub. vtg.)

1,900,000

42,531

Enerflex Systems Income Fund

1,050,000

10,195

Ensign Energy Services, Inc.

3,700,000

60,049

Farstad Shipping ASA (e)

2,500,000

52,015

Fugro NV (Certificaten Van Aandelen) unit

2,300,000

99,403

Lufkin Industries, Inc.

200,390

12,092

NQL Energy Services, Inc. Class A (a)

800,000

5,359

Oil States International, Inc. (a)(e)

4,484,030

130,216

Pason Systems, Inc. (e)

5,000,000

64,401

Patterson-UTI Energy, Inc.

1,600,000

37,120

PHI, Inc. (a)

218,000

7,109

PHI, Inc. (non-vtg.) (a)

75,868

2,406

ProSafe ASA

2,125,000

135,889

Solstad Offshore ASA

1,250,000

23,330

Total Energy Services Trust (d)(e)

2,600,800

30,418

Wenzel Downhole Tools Ltd. (a)

580,500

988

919,801

Oil, Gas & Consumable Fuels - 7.8%

Adams Resources & Energy, Inc. (e)

420,800

15,801

Alpha Natural Resources, Inc. (a)

460,000

7,319

Callon Petroleum Co. (a)

341,500

5,252

Chesapeake Energy Corp.

10,500,145

340,625

Cimarex Energy Co.

1,165,500

41,981

Common Stocks - continued

Shares

Value
(000s)

ENERGY - continued

Oil, Gas & Consumable Fuels - continued

CNPC (Hong Kong) Ltd.

27,000,000

$ 13,540

ConocoPhillips

5,000,000

301,200

Encore Acquisition Co. (a)

2,482,800

62,169

ENI Spa (d)

2,500,000

75,888

Euronav NV

500,000

15,413

Hankook Shell Oil Co. Ltd. (e)

77,730

4,917

Harvest Natural Resources, Inc. (a)(d)

1,700,000

18,887

Holly Corp.

100,000

4,756

Mariner Energy, Inc. (a)

3,603,800

71,427

Michang Oil Industrial Co. Ltd. (e)

173,900

2,953

National Energy Group, Inc. (a)

548,313

3,125

Nissin Shoji Co. Ltd.

104,700

850

Occidental Petroleum Corp.

1,875,000

88,013

Oil Search Ltd.

23,000,463

60,896

Panhandle Royalty Co. Class A

293,564

5,548

Petrohawk Energy Corp. (a)

6,400,000

72,512

Petroleo Brasileiro SA Petrobras sponsored ADR

10,000,000

887,579

Petroleum Development Corp. (a)(e)

1,275,000

58,841

Statoil ASA sponsored ADR

1,950,000

49,452

Swift Energy Co. (a)

900,000

42,048

Tap Oil NL (a)(e)

9,100,000

11,131

Teekay Shipping Corp. (e)

4,150,000

170,607

Tesoro Corp.

1,000,000

63,940

Tsakos Energy Navigation Ltd.

370,000

16,406

UK Coal PLC

5,850,000

27,283

USEC, Inc. (e)

8,618,000

96,177

W&T Offshore, Inc. (e)

6,900,000

233,013

World Fuel Services Corp.

1,000,000

43,020

2,912,569

TOTAL ENERGY

3,832,370

FINANCIALS - 11.6%

Capital Markets - 0.3%

Investors Financial Services Corp.

2,468,986

97,081

Massachusetts Financial Corp. Class A (a)(e)

763,800

1,337

Norvestia Oyj (B Shares)

675,000

7,315

105,733

Common Stocks - continued

Shares

Value
(000s)

FINANCIALS - continued

Commercial Banks - 2.8%

Anglo Irish Bank Corp. PLC

14,850,257

$ 266,316

Bank of the Ozarks, Inc. (d)(e)

1,587,200

49,727

BOK Financial Corp.

995,969

51,193

Cascade Financial Corp.

158,552

2,740

Cathay General Bancorp (e)

3,597,013

123,917

Columbia Bancorp, Oregon

43,682

1,104

Epic Bancorp (e)

254,965

3,631

First Bancorp, Puerto Rico (d)(e)

7,938,000

78,586

First National Lincoln Corp., Maine

116,227

1,944

Great Southern Bancorp, Inc.

302,708

9,496

Hanmi Financial Corp.

1,789,952

38,251

International Bancshares Corp.

1,500,049

46,022

Merrill Merchants Bancshares, Inc.

134,600

3,434

Nara Bancorp, Inc.

1,131,048

21,490

Northern Empire Bancshares

268,265

7,747

Northrim Bancorp, Inc. (e)

342,395

9,200

Oriental Financial Group, Inc. (d)(e)

1,495,276

17,884

OTP Bank Rt.

100,000

3,517

OTP Bank Rt. unit

200,000

14,120

Popular, Inc.

7,000,012

127,330

Prosperity Bancshares, Inc.

99,965

3,468

R&G Financial Corp. Class B (e)

1,860,500

14,326

Ringerikes Sparebank (e)

49,950

1,337

Ringkjoebing Bank (Reg.)

75,000

9,594

S.Y. Bancorp, Inc. (e)

800,694

23,580

Smithtown Bancorp, Inc. (d)

262,118

7,434

Southwest Bancorp, Inc., Oklahoma

699,969

18,976

Sparebanken More (primary capital certificate)

70,000

3,116

Sparebanken Rogaland (primary capital certificate) (d)

290,000

8,607

Sterling Bancorp, New York

911,023

17,747

Sydbank AS

1,500,000

59,334

UCBH Holdings, Inc.

1,009,527

17,303

1,062,471

Consumer Finance - 0.4%

Aeon Credit Service (Asia) Co. Ltd.

12,100,000

9,024

Cattles PLC (e)

17,500,000

125,680

JCG Holdings Ltd.

14,500,000

11,112

Nicholas Financial, Inc. (a)(e)

500,048

6,786

152,602

Common Stocks - continued

Shares

Value
(000s)

FINANCIALS - continued

Diversified Financial Services - 0.1%

Newship Ltd. (a)

2,500

$ 689

OKO Bank (A Shares)

1,100,000

18,575

19,264

Insurance - 5.7%

Assurant, Inc.

4,000,000

210,640

Axis Capital Holdings Ltd.

4,800,000

157,680

Commerce Group, Inc., Massachusetts

1,349,732

39,952

Direct General Corp. (e)

2,116,300

27,914

Endurance Specialty Holdings Ltd.

907,700

32,360

Fidelity National Financial, Inc.

1,250,000

27,875

Fidelity National Title Group, Inc. Class A (d)

2,850,001

62,729

Financial Industries Corp. (a)(e)

1,302,480

10,811

Genworth Financial, Inc. Class A (non-vtg.)

8,200,000

274,208

IPC Holdings Ltd. (e)

3,750,000

112,650

National Interstate Corp.

277,401

7,817

National Western Life Insurance Co. Class A (e)

233,238

55,942

Nationwide Financial Services, Inc. Class A (sub. vtg.)

3,400,000

173,128

Old Republic International Corp.

5,000,025

112,651

Philadelphia Consolidated Holdings Corp. (a)

3,450,000

134,964

Protective Life Corp.

2,000,000

88,500

RenaissanceRe Holdings Ltd.

3,100,000

168,640

Scottish Re Group Ltd.

50,000

572

Universal American Financial Corp. (a)

1,211,224

22,517

UnumProvident Corp. (d)(e)

19,100,000

377,798

UnumProvident Corp. unit

900,000

27,360

2,126,708

Real Estate Investment Trusts - 0.1%

Equity Residential (SBI)

350,000

19,114

UMH Properties, Inc.

110,000

1,771

VastNed Offices/Industrial NV

75,000

2,808

23,693

Real Estate Management & Development - 0.1%

Housevalues, Inc. (a)(d)

1,125,754

6,597

Tejon Ranch Co. (a)(e)

980,300

47,545

54,142

Thrifts & Mortgage Finance - 2.1%

Coastal Financial Corp.

715,730

9,770

Doral Financial Corp. (d)(e)

7,000,000

32,200

Farmer Mac Class C (non-vtg.)

361,900

9,518

Common Stocks - continued

Shares

Value
(000s)

FINANCIALS - continued

Thrifts & Mortgage Finance - continued

First Mutual Bancshares, Inc. (e)

661,267

$ 15,646

Fremont General Corp. (e)

5,100,000

74,103

Harbor Florida Bancshares, Inc.

449,973

20,433

HMN Financial, Inc.

43,004

1,436

Logansport Financial Corp.

35,000

585

NetBank, Inc.

100,000

531

North Central Bancshares, Inc. (e)

141,320

5,582

Northern Rock PLC

2,000,000

45,666

Radian Group, Inc.

2,400,000

127,920

Severn Bancorp, Inc.

412,255

7,977

The PMI Group, Inc. (e)

8,925,000

380,651

W Holding Co., Inc. (e)

10,402,548

59,190

Washington Savings Bank Fsb (e)

462,150

4,182

795,390

TOTAL FINANCIALS

4,340,003

HEALTH CARE - 9.4%

Biotechnology - 0.0%

Vital BioTech Holdings Ltd. (a)

5,000,000

104

Health Care Equipment & Supplies - 2.1%

Biomet, Inc.

7,000,000

264,880

Cantel Medical Corp. (a)(e)

1,547,650

22,240

Cochlear Ltd.

500,000

21,548

Cooper Companies, Inc. (e)

2,500,012

144,076

Cytyc Corp. (a)

450,000

11,889

Escalon Medical Corp. (a)(d)(e)

585,100

1,597

Exactech, Inc. (a)(e)

1,133,700

15,328

Golden Meditech Co. Ltd.

12,384,000

3,806

Home Diagnostics, Inc.

250,000

3,185

Kensey Nash Corp. (a)(d)

299,950

9,121

Kinetic Concepts, Inc. (a)

1,000,000

34,760

Lifecore Biomedical, Inc. (a)

100,000

1,607

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

1,045,500

27,779

Merit Medical Systems, Inc. (a)(e)

2,428,726

38,398

Nakanishi, Inc.

220,000

26,785

National Dentex Corp. (a)(e)

526,549

10,863

Neogen Corp. (a)

63,335

1,300

Nutraceutical International Corp. (a)(e)

1,143,504

17,198

Orthofix International NV (a)(e)

1,400,000

62,356

Common Stocks - continued

Shares

Value
(000s)

HEALTH CARE - continued

Health Care Equipment & Supplies - continued

Pihsiang Machinery Manufacturing Co.

46,000

$ 98

Theragenics Corp. (a)(e)

2,966,000

9,313

Utah Medical Products, Inc. (e)

473,300

15,955

Young Innovations, Inc. (e)

849,776

30,668

774,750

Health Care Providers & Services - 5.4%

Allied Healthcare International, Inc. (a)

75,000

149

American HomePatient, Inc. (a)(e)

1,735,000

1,648

AMERIGROUP Corp. (a)(e)

2,750,000

82,390

AmSurg Corp. (a)(e)

2,450,012

51,499

Apria Healthcare Group, Inc. (a)(e)

4,481,100

104,365

Bio-Reference Laboratories, Inc. (a)

349,979

8,270

Centene Corp. (a)

1,600,000

37,744

CML Healthcare Income Fund (d)

3,234,400

46,817

Community Health Systems, Inc. (a)

2,650,000

85,993

Corvel Corp. (a)(e)

783,371

33,881

Coventry Health Care, Inc. (a)

400,000

18,780

Grupo Casa Saba SA de CV sponsored ADR

192,400

4,194

Health Management Associates, Inc. Class A (d)(e)

24,718,900

486,962

Healthspring, Inc.

500,000

10,070

Horizon Health Corp. (a)(d)(e)

875,000

13,536

Japan Medical Dynamic Marketing, Inc. (d)

100,000

514

LifePoint Hospitals, Inc. (a)(e)

3,300,000

117,150

Lincare Holdings, Inc. (a)(d)(e)

9,562,000

320,901

Magellan Health Services, Inc. (a)

335,000

14,619

National Healthcare Corp. (e)

988,300

54,801

Odyssey Healthcare, Inc. (a)(e)

2,838,000

37,604

Omnicare, Inc.

958,700

36,316

Option Care, Inc. (d)(e)

3,415,694

43,277

Patterson Companies, Inc. (a)

1,100,000

36,135

RehabCare Group, Inc. (a)(e)

1,283,700

16,508

ResCare, Inc. (a)

1,000,024

19,340

U.S. Physical Therapy, Inc. (a)

67,007

807

United Drug PLC:

(Ireland)

2,629,050

12,349

(United Kingdom)

906,695

4,263

UnitedHealth Group, Inc.

6,000,000

292,680

Universal Health Services, Inc. Class B

500,000

26,475

2,020,037

Common Stocks - continued

Shares

Value
(000s)

HEALTH CARE - continued

Health Care Technology - 0.2%

Arrhythmia Research Technology, Inc.

22,500

$ 424

Computer Programs & Systems, Inc.

60,000

2,052

Dendrite International, Inc. (a)

456,220

4,767

IMS Health, Inc.

2,000,000

55,700

Per-Se Technologies, Inc. (a)

700,000

17,136

80,079

Life Sciences Tools & Services - 0.2%

ICON PLC sponsored ADR

1,830,000

65,660

Seracare Life Sciences, Inc. (a)

200,000

1,250

Waters Corp. (a)

100,000

4,980

71,890

Pharmaceuticals - 1.5%

Fornix Biosciences NV

112,922

3,060

Hi-Tech Pharmacal Co., Inc. (a)

5,000

75

Il Dong Pharmaceutical Co. Ltd.

140,010

5,810

Merck & Co., Inc.

5,000,000

227,100

Par Pharmaceutical Companies, Inc. (a)

100,000

1,949

Pfizer, Inc.

11,500,000

306,475

Sciele Pharma, Inc. (a)

800,000

17,448

Tong Ren Tang Technologies Co. Ltd. (H Shares)

400,000

679

Torii Pharmaceutical Co. Ltd.

107,600

1,854

Whanin Pharmaceutical Co. Ltd.

280,000

4,383

568,833

TOTAL HEALTH CARE

3,515,693

INDUSTRIALS - 10.1%

Aerospace & Defense - 1.0%

Astronics Corp. (a)(e)

461,545

8,068

CAE, Inc. (e)

15,500,000

137,790

Cobham PLC

6,000,000

22,003

Ducommun, Inc. (a)(e)

1,022,900

21,297

Magellan Aerospace Corp. (a)

700,000

1,671

Moog, Inc. Class A (a)(e)

3,752,700

139,976

Pemco Aviation Group, Inc. (a)(e)

245,280

1,962

The Allied Defense Group, Inc. (a)

61,488

956

Triumph Group, Inc.

500,000

24,075

357,798

Common Stocks - continued

Shares

Value
(000s)

INDUSTRIALS - continued

Air Freight & Logistics - 0.0%

AirNet Systems, Inc. (a)(e)

593,400

$ 2,018

Baltrans Holdings Ltd.

6,000,000

4,228

Park-Ohio Holdings Corp. (a)

235,204

3,281

9,527

Airlines - 0.3%

ExpressJet Holdings, Inc. Class A (a)(e)

5,464,206

43,386

MAIR Holdings, Inc. (a)(e)

2,000,026

11,020

Pinnacle Airlines Corp. (a)(d)

568,353

4,814

Republic Airways Holdings, Inc. (a)

1,539,687

27,514

Ryanair Holdings PLC sponsored ADR (a)

450,000

30,069

116,803

Building Products - 1.9%

Aaon, Inc.

375,252

8,785

Ameron International Corp.

218,900

16,034

Chosun Refractories Co.

118,000

5,473

Dynasty Ceramic PCL For. Reg.)

500,000

211

Insteel Industries, Inc.

100,000

1,794

Kingspan Group PLC (Ireland)

3,500,000

74,338

Kondotec, Inc.

200,000

1,505

NCI Building Systems, Inc. (a)(e)

2,079,700

124,470

Permasteelisa Spa (d)

375,000

6,907

Simpson Manufacturing Co. Ltd. (d)(e)

4,810,736

136,577

USG Corp. (a)(d)(e)

6,600,000

322,674

698,768

Commercial Services & Supplies - 0.3%

AJIS Co. Ltd.

30,000

649

FTI Consulting, Inc. (a)

250,000

7,103

GFK AG

63,600

2,784

Labor Ready, Inc. (a)

2,062,689

36,118

Mitie Group PLC

5,500,000

21,507

Navigant Consulting, Inc. (a)

1,200,346

21,378

Penna Consulting PLC (a)

395,000

478

RCM Technologies, Inc. (a)(e)

1,140,063

6,270

Roto Smeets de Boer NV

120,000

5,667

Schawk, Inc. Class A

308,154

5,809

Spherion Corp. (a)(e)

2,887,400

20,934

Wesco, Inc.

300,000

1,254

129,951

Common Stocks - continued

Shares

Value
(000s)

INDUSTRIALS - continued

Construction & Engineering - 2.3%

Abengoa SA

250,000

$ 7,633

Actividades de Construccion y Servicios SA (ACS)

2,200,000

110,442

Aoki Marine Co. Ltd.

126,000

463

Arcadis NV

415,000

20,288

Chodai Co. Ltd.

100,000

401

Dongyang Express & Construction Corp.

10,650

418

Heijmans NV (e)

1,950,000

99,933

Hibiya Engineering Ltd.

1,200,000

10,393

Imtech NV

400,000

22,286

Jacobs Engineering Group, Inc. (a)

1,800,000

135,972

Jst Co. Ltd.

240,000

1,149

Kaneshita Construction Co. Ltd.

815,000

4,320

Keller Group PLC

165,000

2,378

KHD Humboldt Wedag International Ltd. (a)(e)

763,800

27,176

Kier Group PLC

500,000

19,561

Koninklijke BAM Groep NV

3,500,000

72,953

Kyeryong Construction Industrial Co. Ltd.

215,000

8,808

Matsui Construction Co. Ltd.

350,000

1,365

Sanyo Engineering & Construction, Inc.

1,000,000

5,301

Shaw Group, Inc. (a)(e)

6,239,953

165,733

Shinsegae Engineering & Construction Co. Ltd. (e)

305,720

10,675

ShoLodge, Inc. (a)(e)

500,627

2,904

Stantec, Inc. (a)(e)

3,786,600

76,970

Takada Kiko Co. Ltd.

475,000

1,645

Takigami Steel Construction Co. Ltd.

218,000

1,247

URS Corp. (a)

1,100,000

44,451

Yokogawa Bridge Corp. (d)

450,000

1,985

Yurtec Corp.

1,150,000

5,103

861,953

Electrical Equipment - 1.6%

Acbel Polytech, Inc.

558,985

179

Aichi Electric Co. Ltd.

900,000

2,609

AZZ, Inc. (a)(e)

544,100

20,572

Belden CDT, Inc.

1,500,000

54,300

BYD Co. Ltd. (H Shares) (a)

2,000,000

5,388

C&D Technologies, Inc. (e)

2,552,800

12,662

Chase Corp. (e)

404,700

8,871

Deswell Industries, Inc. (e)

907,214

9,798

Dewey Electronics Corp. (a)

61,200

195

Draka Holding NV (a)(d)(e)

3,332,396

72,309

Common Stocks - continued

Shares

Value
(000s)

INDUSTRIALS - continued

Electrical Equipment - continued

Encore Wire Corp. (a)

150,000

$ 4,032

EnerSys (a)

799,991

14,104

Genlyte Group, Inc. (a)(e)

2,650,000

204,739

GrafTech International Ltd. (a)(e)

7,541,498

45,626

Koito Industries Ltd.

700,000

2,933

Korea Electric Terminal Co. Ltd. (e)

610,000

10,261

Nexans SA

425,000

38,163

Power Logics Co. Ltd.

525,000

3,599

Superior Essex, Inc. (a)(e)

1,776,740

66,610

TB Wood's Corp. (e)

253,195

3,760

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

223,229

5,541

586,251

Industrial Conglomerates - 0.7%

DCC PLC (Ireland) (e)

8,300,000

224,595

Teleflex, Inc.

800,000

49,760

274,355

Machinery - 1.0%

A.S.V., Inc. (a)(d)

350,000

5,114

Aalberts Industries NV

143,414

11,258

Briggs & Stratton Corp.

187,600

4,782

Cascade Corp. (e)

1,255,000

64,256

Collins Industries, Inc.

182,210

2,269

Columbus McKinnon Corp. (NY Shares) (a)

897,330

19,750

First Engineering Ltd.

3,500,000

1,787

FKI PLC

3,000,000

5,479

Foremost Income Fund (d)(e)

1,440,000

25,654

Gardner Denver, Inc. (a)

1,000,000

33,990

Gehl Co. (a)

500,013

14,270

Greenbrier Companies, Inc. (e)

1,584,500

59,419

Hardinge, Inc. (e)

884,287

13,123

Ingersoll-Rand Co. Ltd. Class A

1,399,985

51,393

Quipp, Inc. (e)

141,500

1,126

S&T Corp.

170,000

4,303

Seksun Corp. Ltd. (e)

28,500,000

7,503

The Weir Group PLC

500,000

4,876

Trifast PLC (e)

7,142,858

8,856

Trinity Industries, Inc.

99,989

3,606

Twin Disc, Inc.

104,776

3,651

Common Stocks - continued

Shares

Value
(000s)

INDUSTRIALS - continued

Machinery - continued

Velan, Inc. (sub. vtg.) (a)

421,900

$ 5,491

Wolverine Tube, Inc. (a)(e)

1,506,481

4,324

356,280

Marine - 0.0%

Chuan Hup Holdings Ltd.

3,000,000

578

Tokyo Kisen Co. Ltd. (e)

550,000

3,292

3,870

Road & Rail - 0.6%

Avis Budget Group, Inc.

1,050,000

20,780

Dongyang Express Bus Corp.

4,350

88

Heartland Express, Inc.

1,627,917

26,584

Hutech Norin Co. Ltd.

140,000

1,341

Japan Logistic Systems Corp.

300,000

1,008

Knight Transportation, Inc.

1,000,000

18,220

Marten Transport Ltd. (a)(e)

1,294,253

22,015

Old Dominion Freight Lines, Inc. (a)

1,050,000

29,043

P.A.M. Transportation Services, Inc. (a)(e)

604,575

15,308

Sakai Moving Service Co. Ltd.

228,900

5,754

Swift Transportation Co., Inc. (a)

334,000

8,400

Trancom Co. Ltd.

300,000

5,707

Universal Truckload Services, Inc. (a)

193,013

5,022

Werner Enterprises, Inc.

50,000

918

YRC Worldwide, Inc. (a)

1,585,000

61,403

221,591

Trading Companies & Distributors - 0.4%

Brammer PLC

2,249,960

11,051

Grafton Group PLC Class A unit

4,500,017

66,054

Richelieu Hardware Ltd.

845,200

18,144

SIG PLC

1,350,000

25,700

Uehara Sei Shoji Co. Ltd.

1,100,000

5,699

Wakita & Co. Ltd.

650,000

5,002

131,650

Transportation Infrastructure - 0.0%

Isewan Terminal Service Co. Ltd.

832,000

5,406

Meiko Transportation Co. Ltd.

400,000

4,138

9,544

TOTAL INDUSTRIALS

3,758,341

Common Stocks - continued

Shares

Value
(000s)

INFORMATION TECHNOLOGY - 12.7%

Communications Equipment - 1.4%

Adtran, Inc.

700,000

$ 16,198

Applied Innovation, Inc. (a)(e)

1,027,232

3,277

Bel Fuse, Inc. Class A

408,563

12,502

Black Box Corp. (e)

1,981,025

88,334

Blonder Tongue Laboratories, Inc. (a)(e)

432,683

567

ClearOne Communications, Inc. (a)(e)

824,048

3,255

Comba Telecom Systems Holdings Ltd.

1,000,000

347

Communications Systems, Inc. (e)

688,881

6,854

Ditech Networks, Inc. (a)(e)

3,234,000

25,516

ECI Telecom Ltd. (a)

2,999,996

22,260

Gemtek Technology Corp. (a)

828,088

1,360

Intracom Holdings SA (Reg.) (a)(e)

6,800,000

47,390

Nera Telecommunications Ltd.

9,000,000

2,080

NETGEAR, Inc. (a)(e)

3,340,057

89,514

Optical Cable Corp. (a)(e)

601,700

2,996

Packeteer, Inc. (a)(e)

3,472,009

38,921

Plantronics, Inc. (d)(e)

4,755,400

100,386

SpectraLink Corp.

623,988

5,759

Sunrise Telecom, Inc. (a)

951,955

2,151

Tkh Group NV unit

806,000

56,840

526,507

Computers & Peripherals - 1.4%

ASUSTeK Computer, Inc.

1,331,000

3,242

Chicony Electronics Co. Ltd.

1,500,000

1,858

Datapulse Technology Ltd.

3,550,000

422

Dataram Corp. (e)

858,800

3,890

High Tech Computer Corp.

129,600

3,223

InFocus Corp. (a)

835,873

2,357

Komag, Inc. (a)(e)

1,967,630

75,262

Logitech International SA (Reg.) (a)

5,600,000

147,870

Neoware, Inc. (a)(d)(e)

1,980,031

23,701

Overland Storage, Inc. (a)(e)

1,005,799

3,872

Qualstar Corp. (a)(e)

1,260,803

4,035

Seagate Technology

7,500,000

169,350

TPV Technology Ltd.

28,000,000

23,294

Unisteel Technology Ltd.

12,675,000

16,684

Xyratex Ltd. (a)(e)

2,407,620

50,223

529,283

Common Stocks - continued

Shares

Value
(000s)

INFORMATION TECHNOLOGY - continued

Electronic Equipment & Instruments - 3.1%

AddTech AB (B Shares)

275,000

$ 4,131

CPI International, Inc. (e)

1,132,173

15,896

CTS Corp. (e)

2,131,218

30,093

Delta Electronics, Inc.

15,409,098

43,661

Delta Electronics PCL (For. Reg.)

31,326,800

15,455

Fujitsu Devices, Inc.

65,000

870

Global Imaging Systems, Inc. (a)(e)

4,976,280

108,334

Hon Hai Precision Industry Co. Ltd. (Foxconn)

62,133,652

403,611

Huan Hsin Holdings Ltd.

2,500,000

867

Ingram Micro, Inc. Class A (a)

1,889,200

38,936

Insight Enterprises, Inc. (a)

1,199,978

25,788

INTOPS Co. Ltd.

100,000

2,770

Jabil Circuit, Inc.

250,000

7,178

Jurong Technologies Industrial Corp. Ltd.

14,300,000

10,192

Kingboard Chemical Holdings Ltd.

34,980,000

124,363

M-Flex Electronix, Inc. (a)(d)

1,165,000

28,135

Mercury Computer Systems, Inc. (a)(e)

1,402,670

17,281

Mesa Laboratories, Inc. (e)

230,760

4,138

Micronetics, Inc. (a)

113,007

902

MOCON, Inc. (e)

331,401

3,225

Muramoto Electronic Thailand PCL (For. Reg.)

1,141,800

6,100

Orbotech Ltd. (a)(e)

2,999,985

72,450

Samsung SDI Co. Ltd. GDR (f)

200,000

3,609

ScanSource, Inc. (a)(e)

2,438,414

76,542

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

480,000

437

Sigmatron International, Inc. (a)(e)

371,880

3,559

Sinotronics Holdings Ltd.

13,000,000

1,755

Spectrum Control, Inc. (a)(e)

999,981

8,900

SYNNEX Corp. (a)(e)

2,298,100

51,592

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

465,200

986

Tomen Electronics Corp.

70,000

1,338

TT electronics PLC (e)

10,000,000

42,442

Varitronix International Ltd.

11,000,000

6,648

Winland Electronics, Inc. (a)(e)

356,100

1,432

Wireless Telecom Group, Inc. (e)

1,596,200

3,097

Ya Hsin Industrial Co. Ltd.

1,731,316

1,346

1,168,059

Internet Software & Services - 0.2%

Digitas, Inc. (a)

3,809,800

40,231

Internet Gold Golden Lines Ltd. (a)

548,100

3,990

Common Stocks - continued

Shares

Value
(000s)

INFORMATION TECHNOLOGY - continued

Internet Software & Services - continued

ValueClick, Inc. (a)

200,000

$ 3,760

YP Corp. (a)

1,517,300

1,275

49,256

IT Services - 2.0%

Affiliated Computer Services, Inc. Class A (a)

2,000,000

106,960

Cass Information Systems, Inc.

6,245

234

Computer Sciences Corp. (a)

3,600,000

190,260

CSE Global Ltd.

8,000,000

5,907

Daitec Holding

7,896

6,684

Euronet Worldwide, Inc. (a)(d)

144,100

4,283

Fiserv, Inc. (a)

1,125,000

55,575

Indra Sistemas SA

1,500,000

33,314

infoUSA, Inc.

1,280,952

14,078

Mastercard, Inc. Class A

600,000

44,460

Sabre Holdings Corp. Class A

4,000,000

101,680

TALX Corp.

781,292

19,001

The BISYS Group, Inc. (a)(e)

6,800,000

75,072

Total System Services, Inc.

500,000

12,040

Western Union Co. (a)

2,000,000

44,100

Wright Express Corp. (a)

375,000

10,264

723,912

Office Electronics - 0.0%

Zebra Technologies Corp. Class A (a)

200,900

7,488

Semiconductors & Semiconductor Equipment - 1.6%

Axcelis Technologies, Inc. (a)(e)

9,000,004

62,100

BE Semiconductor Industries NV (NY Shares) (a)

2,500,000

14,925

Catalyst Semiconductor, Inc. (a)(e)

1,727,985

5,581

Cree, Inc. (a)

213,700

4,699

Eagle Test Systems, Inc.

475,416

8,367

Elan Microelectronics Corp.

2,321,392

934

Intest Corp. (a)(e)

909,300

4,974

KEC Corp. (e)

1,862,499

3,736

KEC Corp. (a)(e)

5,587,500

8,035

Leadis Technology, Inc. (a)

243,911

1,122

Maxim Integrated Products, Inc.

10,500,000

315,105

MediaTek, Inc.

4,235,000

41,424

Melexis NV (d)(e)

3,045,000

51,304

Nextest Systems Corp.

125,000

1,306

Omnivision Technologies, Inc. (a)(d)

1,425,000

23,399

Common Stocks - continued

Shares

Value
(000s)

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Pericom Semiconductor Corp. (a)

606,546

$ 5,829

Realtek Semiconductor Corp.

15,750,577

20,985

Reliability, Inc. (a)(e)

460,300

92

Semtech Corp. (a)

1,177,000

15,336

SigmaTel, Inc. (a)(e)

3,349,500

17,384

Taiwan Mask Corp.

5,250,000

2,785

Trio-Tech International

12,100

133

609,555

Software - 3.0%

Ansoft Corp. (a)

135,976

3,625

Ansys, Inc. (a)(e)

2,869,972

132,019

Catapult Communications Corp. (a)(e)

1,482,532

12,943

Dynamics Research Corp. (a)

244,961

2,413

ebix.com, Inc. (a)

47,341

1,005

ECtel Ltd. (a)(e)

1,750,025

8,925

Epicor Software Corp. (a)

875,000

12,276

EPIQ Systems, Inc. (a)

317,710

4,855

Exact Holdings NV

1,150,000

34,421

FactSet Research Systems, Inc.

414,500

21,098

Fair, Isaac & Co., Inc.

2,999,989

109,890

Hyperion Solutions Corp. (a)

500,000

18,700

ICT Automatisering NV (e)

470,001

8,339

Infomedia Ltd.

600,000

348

Jack Henry & Associates, Inc. (e)

6,200,000

135,098

Kronos, Inc. (a)

1,290,793

43,758

MacDonald Dettwiler & Associates Ltd. (a)

300,000

11,167

Netsmart Technologies, Inc. (a)

325,135

4,272

Oracle Corp. (a)

25,000,000

461,750

Pervasive Software, Inc. (a)(e)

2,314,844

8,565

Planit Holdings PLC

3,400,000

1,832

Progress Software Corp. (a)(e)

2,382,878

68,603

Quest Software, Inc. (a)

150,000

2,210

Sonic Solutions, Inc. (a)

50,000

807

Springsoft, Inc.

6,612,441

8,043

Unit 4 Agresso NV (a)

550,000

11,675

1,128,637

TOTAL INFORMATION TECHNOLOGY

4,742,697

Common Stocks - continued

Shares

Value
(000s)

MATERIALS - 4.3%

Chemicals - 1.5%

American Vanguard Corp.

10,000

$ 158

Aronkasei Co. Ltd.

700,000

3,471

Bairnco Corp. (e)

421,361

5,469

CPAC, Inc. (e)

577,200

4,473

Dongbu Fine Chemical Co. Ltd.

135,080

1,756

FMC Corp. (e)

2,875,000

197,081

Innospec, Inc. (e)

1,359,985

45,532

Kendrion NV (a)

600,000

1,424

Korea Polyol Co. Ltd.

101,450

4,323

KPC Holdings Corp. (a)

43,478

1,338

Miwon Commercial Co. Ltd.

6,530

204

OM Group, Inc. (a)(e)

2,600,000

148,200

Rockwood Holdings, Inc. (a)

248,000

5,781

Tokyo Printing Ink Manufacturing Co. Ltd.

400,000

1,094

Tronox, Inc. Class A

698,500

9,150

Yara International ASA (d)

7,000,000

122,617

552,071

Construction Materials - 0.4%

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

827,000

9,503

Cemex SA de CV sponsored ADR

3,085,010

94,833

Eagle Materials, Inc.

100,178

3,677

Titan Cement Co. SA (Reg.)

700,000

36,740

144,753

Containers & Packaging - 0.2%

Peak International Ltd. (a)(e)

997,600

3,043

RPC Group PLC

850,000

4,118

Silgan Holdings, Inc.

1,804,908

74,669

Starlite Holdings Ltd.

1,000,000

56

81,886

Metals & Mining - 1.9%

Algoma Steel, Inc. (a)

750,000

22,547

Blue Earth Refineries, Inc.

439,200

628

Compania de Minas Buenaventura SA sponsored ADR

3,433,600

88,759

Croesus Mining NL (a)

1,100,000

117

Equigold NL

2,950,000

3,654

Equigold NL warrants 5/31/07 (a)

737,500

154

Gerdau SA sponsored ADR (d)

5,400,000

79,758

Grupo Imsa SA de CV

4,500,000

19,415

Hanil Iron & Steel Co.

55,000

1,159

Common Stocks - continued

Shares

Value
(000s)

MATERIALS - continued

Metals & Mining - continued

Harris Steel Group, Inc. (e)

1,650,000

$ 42,255

Industrias Penoles SA de CV

3,500,000

28,958

Jubilee Mines NL (d)

500,000

5,032

Keystone Consolidated Industries, Inc. (a)

10,500

194

Korea Steel Shapes Co. Ltd.

35,960

1,145

Mittal Steel Co. NV Class A (NY Shares)

1,500,000

64,125

Northwest Pipe Co. (a)(e)

682,375

20,389

POSCO sponsored ADR (d)

4,200,000

296,184

Reliance Steel & Aluminum Co.

30,000

1,031

Samuel Manu-Tech, Inc.

250,000

3,095

Tohoku Steel Co. Ltd.

275,000

3,245

Verzatec SA de CV (a)

4,500,000

2,092

Webco Industries, Inc. (a)

15,963

1,245

Wheeling Pittsburgh Corp. (a)(e)

841,516

16,637

701,818

Paper & Forest Products - 0.3%

Buckeye Technologies, Inc. (a)(e)

3,744,000

38,900

Gunns Ltd.

2,086,272

4,684

Sino-Forest Corp. (a)(e)

9,101,000

47,181

Sino-Forest Corp. (a)(e)(f)

4,400,000

22,810

Votorantim Celulose e Papel SA sponsored ADR (non-vtg.)

1,200,000

21,900

135,475

TOTAL MATERIALS

1,616,003

TELECOMMUNICATION SERVICES - 0.4%

Diversified Telecommunication Services - 0.1%

Atlantic Tele-Network, Inc. (e)

1,200,300

23,214

PT Telkomunikasi Indonesia Tbk sponsored ADR

750,000

27,420

XETA Technologies, Inc. (a)(e)

974,969

3,266

53,900

Wireless Telecommunication Services - 0.3%

Cosmote Mobile Telecommunications SA

1,700,000

41,879

Metro One Telecommunications, Inc. (a)(e)

407,747

983

SK Telecom Co. Ltd. sponsored ADR (d)

2,400,000

57,792

100,654

TOTAL TELECOMMUNICATION SERVICES

154,554

Common Stocks - continued

Shares

Value
(000s)

UTILITIES - 0.3%

Electric Utilities - 0.3%

Korea Electric Power Corp. sponsored ADR

4,500,000

$ 89,010

Maine & Maritimes Corp. (e)

112,800

1,794

90,804

Gas Utilities - 0.0%

Hokuriku Gas Co.

1,700,000

5,596

Keiyo Gas Co. Ltd.

223,000

1,106

KyungDong City Gas Co. Ltd.

140,000

5,126

Otaki Gas Co. Ltd.

654,000

3,411

Shinnihon Gas Corp.

61,000

292

15,531

Independent Power Producers & Energy Traders - 0.0%

Mega First Corp. BHD

713,000

194

TOTAL UTILITIES

106,529

TOTAL COMMON STOCKS

(Cost $21,511,015)

33,927,299

Nonconvertible Preferred Stocks - 0.0%

HEALTH CARE - 0.0%

Health Care Providers & Services - 0.0%

Impath Bankruptcy Liquidating Trust Class A (a)

1,665,000

3,014

MATERIALS - 0.0%

Construction Materials - 0.0%

Buzzi Unicem Spa (Risp)

300,000

5,254

TOTAL NONCONVERTIBLE PREFERRED STOCKS

(Cost $21,294)

8,268

Convertible Bonds - 0.0%

Principal Amount (000s)

INFORMATION TECHNOLOGY - 0.0%

Electronic Equipment & Instruments - 0.0%

Trans-Lux Corp. 8.25% 3/1/12

$ 500

460

TOTAL CONVERTIBLE BONDS

(Cost $578)

460

Money Market Funds - 11.5%

Shares

Value
(000s)

Fidelity Cash Central Fund, 5.34% (b)

3,491,508,277

$ 3,491,508

Fidelity Securities Lending Cash Central Fund, 5.35% (b)(c)

783,755,147

783,755

TOTAL MONEY MARKET FUNDS

(Cost $4,275,263)

4,275,263

TOTAL INVESTMENT PORTFOLIO - 102.2%

(Cost $25,808,150)

38,211,290

NET OTHER ASSETS - (2.2)%

(814,619)

NET ASSETS - 100%

$ 37,396,671

Legend

(a) Non-income producing

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

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

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

(e) Affiliated company

(f) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value
of these securities amounted to $26,419,000 or 0.1% of net assets.

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
(Amount in thousands)

Fidelity Cash Central Fund

$ 48,929

Fidelity Securities Lending Cash Central Fund

1,944

Total

$ 50,873

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
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Abbey PLC

$ 37,862

$ -

$ -

$ 1,025

$ 41,965

ACE Cash Express, Inc.

37,275

-

37,946

-

-

Adams Resources & Energy, Inc.

17,024

-

34

-

15,801

Advanced Marketing Services, Inc.

7,323

-

-

-

5,352

AirNet Systems, Inc.

1,780

-

-

-

2,018

American Axle & Manufacturing
Holdings, Inc.

82,167

-

-

752

94,056

American HomePatient, Inc.

2,394

-

-

-

1,648

American Italian Pasta Co. Class A

15,315

-

-

-

13,804

AMERIGROUP Corp.

98,940

-

20,085

-

82,390

AmSurg Corp.

53,873

3,163

3,112

-

51,499

Ansys, Inc.

131,703

-

-

-

132,019

Applebee's
International, Inc.

146,520

-

-

-

188,265

Applied Innovation, Inc.

3,349

-

-

-

3,277

Apria Healthcare
Group, Inc.

78,509

-

-

-

104,365

ArvinMeritor, Inc.

115,584

531

-

702

105,998

Astronics Corp.

7,840

-

2,137

-

8,068

Atlantic Tele-Network, Inc.

22,302

-

-

168

23,214

Axcelis Technologies, Inc.

49,770

-

-

-

62,100

AZZ, Inc.

16,323

-

-

-

20,572

Bairnco Corp.

5,177

-

55

30

5,469

Bank of the Ozarks, Inc.

51,013

-

-

159

49,727

Barratt Developments PLC

433,675

-

-

-

494,932

Beazer Homes USA, Inc.

56,282

27,338

-

135

86,680

Bellway PLC

208,344

-

11,197

-

231,246

BJ's Wholesale Club, Inc.

199,531

-

174

-

200,550

Black Box Corp.

81,440

-

-

119

88,334

Blonder Tongue Laboratories, Inc.

709

-

18

-

567

Blyth, Inc.

71,604

-

2,498

1,080

95,680

Brinker International, Inc.

150,242

-

1,365

460

213,578

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Bristow Group, Inc.

$ 79,157

$ 240

$ -

$ -

$ 77,788

Buckeye Technologies, Inc.

28,080

-

-

-

38,900

C&D Technologies, Inc.

18,125

-

-

-

12,662

CAE, Inc.

120,779

-

2,572

118

137,790

Cagle's, Inc. Class A

2,963

-

-

-

3,797

Cantel Medical Corp.

22,255

-

-

-

22,240

Career Education Corp.

279,431

-

-

-

218,754

Cascade Corp.

46,435

-

-

188

64,256

Catalyst Semiconductor, Inc.

5,616

-

-

-

5,581

Catapult Communications Corp.

14,875

48

-

-

12,943

Cathay General Bancorp

131,610

550

-

322

123,917

Cattles PLC

109,024

-

-

1,860

125,680

CEC Entertainment, Inc.

109,261

-

-

-

127,539

Championship Auto Racing Teams, Inc.

-

-

-

-

-

Chase Corp.

6,378

-

-

162

8,871

Cherokee, Inc.

21,970

-

-

334

22,270

Chime Communications PLC

10,091

-

215

48

13,414

Chromcraft Revington, Inc.

11,248

-

-

-

9,094

ClearOne Communications, Inc.

2,884

-

-

-

3,255

Communications Systems, Inc.

6,544

-

-

62

6,854

Cooper Companies, Inc.

110,501

-

-

-

144,076

Corinthian Colleges, Inc.

93,940

-

36,343

-

-

Corvel Corp.

22,443

-

2,734

-

33,881

CPAC, Inc.

3,348

-

-

40

4,473

CPI International, Inc.

16,791

-

928

-

15,896

Craftmade
International, Inc.

-

5,376

-

26

6,130

CTS Corp.

32,225

-

1,507

67

30,093

D.R. Horton, Inc.

670,089

1,015

-

9,386

733,630

Dataram Corp.

4,019

-

-

52

3,890

DCC PLC (Ireland)

199,318

-

-

-

224,595

Decorator Industries, Inc.

2,094

-

-

7

2,131

Delta Apparel, Inc.

14,854

156

-

43

15,904

Deswell Industries, Inc.

8,931

-

868

166

9,798

Direct General Corp.

35,109

-

-

85

27,914

Ditech Networks, Inc.

26,260

-

-

-

25,516

Dollar General Corp.

396,165

22,502

-

1,559

437,675

Dollar Tree Stores, Inc.

149,822

-

-

-

175,112

Dominion Homes, Inc.

6,339

-

-

-

5,182

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Doral Financial Corp.

$ 37,376

$ -

$ 1,497

$ -

$ 32,200

Draka Holding NV

60,444

-

-

-

72,309

Drew Industries, Inc.

43,035

-

-

-

50,081

DSG International Ltd.

-

-

1,242

-

-

Ducommun, Inc.

18,091

318

-

-

21,297

ECtel Ltd.

7,508

-

-

-

8,925

Educational Development Corp.

2,592

-

-

-

2,547

Encore Acquisition Co.

80,436

-

4,143

-

-

Epic Bancorp

3,761

-

-

10

3,631

Escalon Medical Corp.

2,838

-

-

-

1,597

ESS Technology, Inc.

6,766

-

3,996

-

-

Exact Holdings NV

36,404

-

2,933

-

-

Exactech, Inc.

15,815

-

-

-

15,328

ExpressJet Holdings, Inc. Class A

37,375

-

-

-

43,386

Farstad Shipping ASA

50,368

-

-

-

52,015

Federal Screw Works

2,422

-

-

16

2,305

Financial Industries Corp.

11,071

-

-

-

10,811

Finlay Enterprises, Inc.

7,742

-

-

-

6,812

First Bancorp, Puerto Rico

75,313

21

-

500

78,586

First Mutual Bancshares, Inc.

14,204

145

-

59

15,646

FMC Corp.

178,901

-

1,702

522

197,081

Footstar, Inc.

8,971

-

-

-

9,999

Foremost Income Fund

24,305

-

-

440

25,654

Fossil, Inc.

129,190

-

-

-

155,370

Fremont General Corp.

90,525

-

-

561

74,103

Fresh Del Monte
Produce, Inc.

97,462

40

-

290

90,481

Friedmans, Inc. Class A

-

-

-

-

-

Gehl Co.

19,334

-

5,723

-

-

Genesco, Inc.

63,038

-

-

-

87,489

Genlyte Group, Inc.

184,308

-

-

-

204,739

Gildan Activewear, Inc. Class A

179,417

-

-

-

213,844

Global Imaging Systems, Inc.

98,195

7,277

-

-

108,334

Goodfellow, Inc.

9,477

-

-

211

9,620

GrafTech International Ltd.

33,162

7,926

-

-

45,626

Greenbrier Companies, Inc.

44,017

-

-

-

59,419

Hampshire Group Ltd.

15,512

-

-

-

12,769

Hankook Shell Oil Co. Ltd.

4,744

-

-

-

4,917

Hardinge, Inc.

12,263

-

-

27

13,123

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Harris Steel Group, Inc.

$ 43,714

$ -

$ -

$ 125

$ 42,255

Health Management Associates, Inc. Class A

502,535

-

-

1,483

486,962

Heijmans NV

100,655

-

1,023

-

99,933

Helen of Troy Ltd.

53,794

-

-

-

73,835

Henry Boot PLC

38,995

-

-

252

49,053

Horizon Health Corp.

10,874

641

-

-

13,536

Hot Topic, Inc.

66,083

-

20,916

-

25,275

Hovnanian Enterprises, Inc. Class A

169,057

-

-

-

190,412

HTL International
Holdings Ltd.

19,647

-

-

348

20,088

ICT Automatisering NV

10,027

-

529

-

8,339

InFocus Corp.

10,281

-

7,639

-

-

Innospec, Inc.

33,711

-

181

109

45,532

Interstate Bakeries Corp.

18,944

-

-

-

8,005

Intest Corp.

3,855

-

-

-

4,974

Intracom Holdings SA (Reg.)

43,604

-

-

-

47,390

INZI Controls Co. Ltd.

8,605

-

-

-

7,367

IPC Holdings Ltd.

114,960

-

7,567

640

112,650

Jack Henry & Associates, Inc.

111,193

7,216

1,979

346

135,098

Jack in the Box, Inc.

140,012

-

-

-

199,191

JAKKS Pacific, Inc.

22,508

6,783

-

-

38,414

JLM Couture, Inc.

493

-

-

-

493

Jos. A. Bank Clothiers, Inc.

7,310

16,383

-

-

26,925

KEC Corp.

11,154

-

-

-

11,771

KHD Humboldt Wedag International Ltd.

22,143

-

-

-

27,176

Komag, Inc.

-

63,660

-

-

75,262

Komplett ASA

13,741

-

-

-

16,743

Korea Electric Terminal Co. Ltd.

9,101

-

-

-

10,261

Lenox Group, Inc.

9,678

-

-

-

8,357

Libbey, Inc.

11,140

-

-

35

16,155

LifePoint Hospitals, Inc.

113,704

-

2,662

-

117,150

Lincare Holdings, Inc.

327,214

5,649

-

-

320,901

M/I Homes, Inc.

55,741

-

-

43

62,142

Maine & Maritimes Corp.

1,822

-

-

-

1,794

MAIR Holdings, Inc.

11,100

-

-

-

11,020

Marine Products Corp.

33,232

-

-

194

41,385

Marten Transport Ltd.

14,402

5,634

-

-

22,015

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Massachusetts Financial Corp. Class A

$ 1,146

$ -

$ -

$ -

$ 1,337

Medical Action Industries, Inc.

23,179

-

-

-

27,779

Melexis NV

48,425

-

-

1,647

51,304

Mercury Computer Systems, Inc.

18,180

609

-

-

17,281

Merit Medical Systems, Inc.

39,505

-

4,084

-

38,398

Mesa Laboratories, Inc.

3,369

64

-

16

4,138

Metro One Telecommunications, Inc.

1,408

-

487

-

983

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

255,548

-

-

1,544

300,818

Michang Oil Industrial Co. Ltd.

2,804

-

-

-

2,953

MOCON, Inc.

2,983

-

-

25

3,225

Monaco Coach Corp.

17,730

-

-

100

19,878

Monro Muffler Brake, Inc.

24,808

-

1,915

52

28,069

Monterey Gourmet Foods, Inc.

6,249

-

1,674

-

-

Moog, Inc. Class A

110,918

18,000

-

-

139,976

Mothers Work, Inc.

18,195

-

3,025

-

23,322

Multimedia Games, Inc.

20,950

906

-

-

21,127

Murakami Corp.

6,247

-

-

24

6,220

National Dentex Corp.

11,260

735

-

-

10,863

National Healthcare Corp.

46,190

-

658

180

54,801

National Western Life Insurance Co. Class A

53,645

-

-

84

55,942

NCI Building Systems, Inc.

98,154

-

1,217

-

124,470

Neoware, Inc.

7,316

16,252

-

-

23,701

NETGEAR, Inc.

63,740

913

-

-

89,514

Netsmart Technologies, Inc.

5,558

-

1,390

-

-

Newship Ltd.

675

-

-

-

-

Next PLC

459,451

-

3,068

-

512,812

Ngai Lik Industrial Holdings Ltd.

5,058

-

-

-

5,121

Nicholas Financial, Inc.

7,580

-

454

-

6,786

North Central Bancshares, Inc.

5,653

-

-

47

5,582

Northrim Bancorp, Inc.

3,474

4,888

-

35

9,200

Northwest Pipe Co.

18,410

-

-

-

20,389

Nutraceutical International Corp.

16,146

-

-

-

17,198

Odyssey Healthcare, Inc.

51,112

-

-

-

37,604

Oil States International, Inc.

136,906

6,203

-

-

130,216

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

OM Group, Inc.

$ 91,312

$ -

$ -

$ -

$ 148,200

On Assignment, Inc.

15,757

-

17,285

-

-

Optical Cable Corp.

2,347

-

-

-

2,996

Option Care, Inc.

36,157

2,679

-

67

43,277

Orbotech Ltd.

64,680

-

-

-

72,450

Oriental Financial Group, Inc.

16,763

1,991

-

168

17,884

Orthofix International NV

55,680

-

607

-

62,356

Overland Storage, Inc.

10,080

-

2,846

-

3,872

P&F Industries, Inc. Class A

3,815

-

-

-

4,424

P.A.M. Transportation Services, Inc.

17,206

-

-

-

15,308

Pacific Sunwear of California, Inc.

125,931

-

-

-

133,027

Packeteer, Inc.

31,769

-

-

-

38,921

Papa John's International, Inc.

93,206

-

8,419

-

97,255

Pason Systems, Inc.

71,801

-

-

-

64,401

Peak International Ltd.

2,594

-

-

-

3,043

Pemco Aviation Group, Inc.

2,453

-

-

-

1,962

Pericom Semiconductor Corp.

21,840

-

19,362

-

-

Perry Ellis International, Inc.

15,361

-

15,438

-

-

Pervasive Software, Inc.

9,189

91

-

-

8,565

Petroleum Development Corp.

56,789

-

-

-

58,841

Piolax, Inc.

17,617

-

1,831

84

13,919

Plantronics, Inc.

73,994

-

-

238

100,386

Pomeroy IT Solutions, Inc.

9,164

-

-

-

10,945

Progress Software Corp.

52,001

1,920

-

-

68,603

ProSafe ASA

130,469

-

4,555

-

-

Qualstar Corp.

3,808

-

-

-

4,035

Quiksilver, Inc.

155,180

-

-

-

167,163

Quipp, Inc.

1,090

-

-

7

1,126

R&G Financial Corp.
Class B

15,442

-

-

-

14,326

RCM Technologies, Inc.

5,779

-

-

-

6,270

RehabCare Group, Inc.

24,031

-

-

-

16,508

Reliability, Inc.

153

-

49

-

92

Rex Stores Corp.

19,586

-

-

-

23,506

Ringerikes Sparebank

1,461

-

-

-

1,337

Rocky Brands, Inc.

5,961

-

-

-

6,903

Ruby Tuesday, Inc.

139,930

-

-

-

176,824

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Ryan's Restaurant
Group, Inc.

$ 61,825

$ -

$ -

$ -

$ 63,590

S.Y. Bancorp, Inc.

25,163

-

1,436

120

23,580

Safeway, Inc.

702,025

-

25

1,438

734,000

Saga Communications, Inc. Class A

13,754

-

-

-

15,202

ScanSource, Inc.

72,543

-

-

-

76,542

ScS Upholstery PLC

21,314

-

-

-

24,427

SED International
Holdings, Inc.

408

-

-

-

437

Seksun Corp. Ltd.

6,408

-

-

116

7,503

Shaw Group, Inc.

129,105

-

-

-

165,733

Shinsegae Engineering & Construction Co. Ltd.

12,227

-

-

-

10,675

ShoLodge, Inc.

2,753

-

-

-

2,904

SigmaTel, Inc.

16,480

-

-

-

17,384

Sigmatron International, Inc.

3,198

7

-

-

3,559

Simpson Manufacturing Co. Ltd.

120,911

14,050

-

385

136,577

Sino-Forest Corp.

67,282

-

-

-

69,991

Sonic Corp.

177,120

-

91,895

-

113,750

Southern Energy
Homes, Inc.

9,633

-

11,901

-

-

SpectraLink Corp.

12,326

-

8,461

-

-

Spectrum Control, Inc.

12,774

-

3,157

-

8,900

Spherion Corp.

21,944

-

-

-

20,934

Sportscene Group, Inc. Class A

5,299

-

-

-

5,812

Stanley Furniture Co., Inc.

29,432

-

-

104

28,743

Stantec, Inc.

64,080

-

-

-

76,970

Steiner Leisure Ltd.

67,101

-

-

-

76,219

Sterling Bancorp, New York

26,548

-

7,872

238

-

Stoneridge, Inc.

21,418

-

1,521

-

14,243

Strattec Security Corp.

20,025

-

-

-

19,325

Summa Industries, Inc.

4,331

-

6,563

26

-

Sunjin Co. Ltd.

8,442

-

-

-

8,429

Superior Essex, Inc.

55,619

-

1,234

-

66,610

SYNNEX Corp.

47,334

-

39

-

51,592

Tap Oil NL

13,771

-

-

-

11,131

TB Wood's Corp.

1,991

471

-

18

3,760

Technology Solutions Co.

1,731

-

1,526

-

-

Teekay Shipping Corp.

178,284

-

-

986

170,607

Affiliates
(Amount in thousands)

Value,
beginning of
period

Purchases

Sales
Proceeds

Dividend Income

Value,
end of
period

Tejon Ranch Co.

$ 40,006

$ -

$ -

$ -

$ 47,545

The BISYS Group, Inc.

93,206

-

8,811

-

75,072

The PMI Group, Inc.

378,956

-

-

469

380,651

Theragenics Corp.

9,254

-

-

-

9,313

Timberland Co. Class A

75,378

15,449

-

-

100,032

Tokyo Kisen Co. Ltd.

3,526

-

-

-

3,292

Total Energy Services Trust

40,117

-

1,947

575

30,418

Tower Automotive, Inc.

344

-

116

-

-

Trifast PLC

7,239

-

-

-

8,856

TT electronics PLC

33,686

-

61

690

42,442

TTI Team Telecom International Ltd.

4,092

-

3,846

-

-

Universal Security Instruments, Inc.

-

4,511

-

-

5,541

UnumProvident Corp.

308,370

1,645

-

1,433

377,798

UnumProvident Corp. unit

20,832

2,687

-

464

-

Up, Inc.

4,548

-

-

-

4,131

URS Corp.

118,800

-

76,599

-

-

USEC, Inc.

90,748

-

-

-

96,177

USG Corp.

305,976

-

-

-

322,674

Utah Medical Products, Inc.

14,171

-

-

95

15,955

W Holding Co., Inc.

53,309

1,652

-

433

59,190

W&T Offshore, Inc.

208,788

23,937

-

207

233,013

Washington Savings Bank Fsb

3,720

-

-

-

4,182

Western Metals Corp.

257

-

-

-

200

Westwood One, Inc.

29,772

4,593

-

447

39,975

Wheeling Pittsburgh Corp.

18,648

-

-

-

16,637

Winland Electronics, Inc.

1,261

-

-

-

1,432

Wireless Telecom Group, Inc.

3,831

-

-

-

3,097

Wolverine Tube, Inc.

6,569

-

-

-

4,324

XETA Technologies, Inc.

2,457

-

-

-

3,266

Xyratex Ltd.

34,744

17,527

-

-

50,223

Yankee Candle Co., Inc.

110,367

-

-

-

153,679

Young Innovations, Inc.

29,202

549

-

34

30,668

Total

$ 15,953,396

$ 324,941

$ 502,894

$ 37,962

$ 16,791,222

Income Tax Information

At October 31, 2006, the aggregate cost of investment securities for income tax purposes was $25,813,067,000. Net unrealized appreciation aggregated $12,398,223,000, of which $13,785,062,000 related to appreciated investment securities and $1,386,839,000 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. 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. 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. Debt securities, including restricted securities, for which quotations are readily available, are valued by independent pricing services or by dealers who make markets in such securities. Pricing services consider yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. The frequency of when fair value pricing is used is unpredictable. The value of securities used under fair value pricing may differ from published prices for the same securities.

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 Corp.

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity® Value Discovery Fund

October 31, 2006

FVD-QTLY-1206

1.809083.102

Investments October 31, 2006 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.0%

Shares

Value

CONSUMER DISCRETIONARY - 9.2%

Automobiles - 0.4%

Renault SA

31,800

$ 3,720,030

Diversified Consumer Services - 0.0%

Service Corp. International (SCI)

3,600

32,832

Hotels, Restaurants & Leisure - 3.0%

Accor SA

35,600

2,471,927

Applebee's International, Inc.

28,300

645,806

Aristocrat Leisure Ltd.

295,600

3,187,724

Boyd Gaming Corp.

61,800

2,439,246

Chipotle Mexican Grill, Inc. Class B (a)

4,054

236,754

Domino's Pizza, Inc.

154,900

4,210,182

Greek Organization of Football Prognostics SA

16,400

585,704

McDonald's Corp.

158,934

6,662,513

Minor International PCL (For. Reg.)

1,688,900

497,175

OSI Restaurant Partners, Inc.

125,800

4,185,366

WMS Industries, Inc. (a)

99,065

3,499,966

28,622,363

Household Durables - 0.9%

Bassett Furniture Industries, Inc.

29,800

492,296

Cyrela Brazil Realty SA

51,000

1,029,052

La-Z-Boy, Inc.

128,200

1,570,450

Urbi, Desarrollos Urbanos, SA de CV (a)

112,000

343,254

Whirlpool Corp.

60,800

5,285,344

8,720,396

Leisure Equipment & Products - 0.3%

Eastman Kodak Co.

114,000

2,781,600

Media - 1.0%

Clear Channel Communications, Inc.

80,100

2,791,485

Gannett Co., Inc.

5,000

295,700

Grupo Televisa SA de CV (CPO) sponsored ADR

31,100

767,548

News Corp. Class A

131,652

2,744,944

R.H. Donnelley Corp.

8,700

523,914

Viacom, Inc. Class B (non-vtg.) (a)

60,600

2,358,552

9,482,143

Multiline Retail - 1.5%

Federated Department Stores, Inc.

100,700

4,421,737

JCPenney Co., Inc.

58,600

4,408,478

Lojas Renner SA

26,000

324,241

Sears Holdings Corp. (a)

26,900

4,693,243

13,847,699

Common Stocks - continued

Shares

Value

CONSUMER DISCRETIONARY - continued

Specialty Retail - 1.1%

AutoZone, Inc. (a)

4,200

$ 470,400

Home Depot, Inc.

107,600

4,016,708

OfficeMax, Inc.

114,100

5,428,878

9,915,986

Textiles, Apparel & Luxury Goods - 1.0%

Brown Shoe Co., Inc.

46,600

1,815,536

Liz Claiborne, Inc.

104,927

4,424,772

Polo Ralph Lauren Corp. Class A

10,700

759,700

VF Corp.

32,000

2,432,320

9,432,328

TOTAL CONSUMER DISCRETIONARY

86,555,377

CONSUMER STAPLES - 5.4%

Beverages - 0.2%

Pernod Ricard SA

11,600

2,323,099

Food & Staples Retailing - 2.1%

Rite Aid Corp.

577,500

2,702,700

Safeway, Inc.

270,944

7,954,916

Wal-Mart de Mexico SA de CV Series V

126,100

439,348

Wal-Mart Stores, Inc.

168,000

8,279,040

19,376,004

Food Products - 0.7%

Chiquita Brands International, Inc.

142,600

1,953,620

Del Monte Foods Co.

84,600

912,834

Tyson Foods, Inc. Class A

262,200

3,788,790

6,655,244

Personal Products - 1.1%

Avon Products, Inc.

258,800

7,870,108

Playtex Products, Inc. (a)

215,800

3,008,252

10,878,360

Tobacco - 1.3%

Altria Group, Inc.

145,400

11,825,382

TOTAL CONSUMER STAPLES

51,058,089

ENERGY - 13.1%

Energy Equipment & Services - 7.8%

Halliburton Co.

318,200

10,293,770

Common Stocks - continued

Shares

Value

ENERGY - continued

Energy Equipment & Services - continued

National Oilwell Varco, Inc. (a)

330,047

$ 19,934,839

Noble Corp.

214,760

15,054,676

Schlumberger Ltd. (NY Shares)

151,700

9,569,236

Smith International, Inc.

478,548

18,893,075

73,745,596

Oil, Gas & Consumable Fuels - 5.3%

Alpha Natural Resources, Inc. (a)

80,900

1,287,119

Aurora Oil & Gas Corp. (a)(d)

650,320

2,015,992

Cabot Oil & Gas Corp.

93,600

4,952,376

Foundation Coal Holdings, Inc.

132,400

4,860,404

Peabody Energy Corp.

151,400

6,354,258

Plains Exploration & Production Co. (a)

155,000

6,554,950

Quicksilver Resources, Inc. (a)

10,900

373,652

Ultra Petroleum Corp. (a)

186,000

9,926,820

Valero Energy Corp.

253,300

13,255,189

49,580,760

TOTAL ENERGY

123,326,356

FINANCIALS - 25.2%

Capital Markets - 2.2%

Ameriprise Financial, Inc.

12,140

625,210

Bank of New York Co., Inc.

71,400

2,454,018

Merrill Lynch & Co., Inc.

86,810

7,588,930

Morgan Stanley

116,500

8,904,095

State Street Corp.

13,600

873,528

20,445,781

Commercial Banks - 2.8%

Cathay General Bancorp

86,543

2,981,406

East West Bancorp, Inc.

79,000

2,884,290

UCBH Holdings, Inc.

161,292

2,764,545

Wachovia Corp.

160,553

8,910,692

Wells Fargo & Co.

249,500

9,054,355

26,595,288

Consumer Finance - 0.3%

Capital One Financial Corp.

33,300

2,641,689

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Diversified Financial Services - 5.3%

Bank of America Corp.

416,600

$ 22,442,242

JPMorgan Chase & Co.

589,600

27,970,621

50,412,863

Insurance - 8.8%

ACE Ltd.

161,671

9,255,665

AFLAC, Inc.

91,200

4,096,704

Allied World Assurance Co. Holdings Ltd.

25,900

1,081,584

American International Group, Inc.

217,100

14,582,607

Aspen Insurance Holdings Ltd.

370,815

9,203,628

Axis Capital Holdings Ltd.

250,200

8,219,070

Endurance Specialty Holdings Ltd.

259,046

9,234,990

Hartford Financial Services Group, Inc.

56,100

4,890,237

Marsh & McLennan Companies, Inc.

45,600

1,342,464

MetLife, Inc.

17,700

1,011,201

Platinum Underwriters Holdings Ltd.

290,674

8,679,526

Scottish Re Group Ltd.

141,200

1,613,916

The St. Paul Travelers Companies, Inc.

182,600

9,336,338

W.R. Berkley Corp.

2,700

99,522

82,647,452

Real Estate Investment Trusts - 4.0%

CBL & Associates Properties, Inc.

23,028

1,007,014

Corporate Office Properties Trust (SBI)

93,600

4,473,144

Developers Diversified Realty Corp.

69,000

4,202,100

Duke Realty Corp.

43,700

1,750,622

Equity Office Properties Trust

107,100

4,551,750

Equity Residential (SBI)

149,800

8,180,578

General Growth Properties, Inc.

81,490

4,229,331

Kimco Realty Corp.

90,100

4,003,143

United Dominion Realty Trust, Inc. (SBI)

159,900

5,175,963

37,573,645

Real Estate Management & Development - 0.4%

Mitsubishi Estate Co. Ltd.

168,000

4,021,888

Wharf Holdings Ltd.

39,000

132,387

4,154,275

Thrifts & Mortgage Finance - 1.4%

Countrywide Financial Corp.

72,300

2,756,076

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Thrifts & Mortgage Finance - continued

Fannie Mae

100,000

$ 5,926,000

Hudson City Bancorp, Inc.

319,000

4,379,870

13,061,946

TOTAL FINANCIALS

237,532,939

HEALTH CARE - 7.9%

Biotechnology - 0.4%

Alkermes, Inc. (a)

42,816

719,309

Amgen, Inc. (a)

35,700

2,709,987

3,429,296

Health Care Equipment & Supplies - 1.7%

Baxter International, Inc.

167,900

7,718,363

Becton, Dickinson & Co.

54,400

3,809,632

C.R. Bard, Inc.

50,600

4,147,176

15,675,171

Health Care Providers & Services - 1.6%

Acibadem Saglik Hizmetleri AS

83,000

911,306

Brookdale Senior Living, Inc.

104,800

5,042,976

Cardinal Health, Inc.

76,800

5,026,560

Chemed Corp.

54,000

1,916,460

Medco Health Solutions, Inc. (a)

43,500

2,327,250

15,224,552

Life Sciences Tools & Services - 0.2%

Fisher Scientific International, Inc. (a)

14,500

1,241,490

Thermo Electron Corp. (a)

16,300

698,781

1,940,271

Pharmaceuticals - 4.0%

Elan Corp. PLC sponsored ADR (a)

7,000

101,360

Johnson & Johnson

64,200

4,327,080

Merck & Co., Inc.

202,100

9,179,382

Novartis AG sponsored ADR

76,200

4,627,626

Pfizer, Inc.

651,000

17,349,150

Teva Pharmaceutical Industries Ltd. sponsored ADR

74,900

2,469,453

38,054,051

TOTAL HEALTH CARE

74,323,341

Common Stocks - continued

Shares

Value

INDUSTRIALS - 6.9%

Aerospace & Defense - 1.4%

General Dynamics Corp.

28,400

$ 2,019,240

Honeywell International, Inc.

211,500

8,908,380

Precision Castparts Corp.

37,724

2,567,495

13,495,115

Air Freight & Logistics - 0.3%

United Parcel Service, Inc. Class B

31,300

2,358,455

Building Products - 0.3%

Masco Corp.

110,800

3,063,620

Commercial Services & Supplies - 0.8%

Allied Waste Industries, Inc.

197,000

2,393,550

The Brink's Co.

43,400

2,278,066

Waste Management, Inc.

73,500

2,754,780

7,426,396

Construction & Engineering - 1.3%

Fluor Corp.

115,498

9,058,508

Shaw Group, Inc. (a)

110,468

2,934,030

11,992,538

Machinery - 0.8%

Deere & Co.

64,400

5,482,372

Flowserve Corp. (a)

37,030

1,962,590

7,444,962

Road & Rail - 2.0%

AMERCO (a)

32,626

2,992,457

Burlington Northern Santa Fe Corp.

57,400

4,450,222

CSX Corp.

129,300

4,612,131

Laidlaw International, Inc.

145,196

4,212,136

Landstar System, Inc.

60,100

2,791,044

19,057,990

TOTAL INDUSTRIALS

64,839,076

INFORMATION TECHNOLOGY - 17.7%

Computers & Peripherals - 4.1%

Hewlett-Packard Co.

111,200

4,307,888

Imation Corp.

96,418

4,413,052

International Business Machines Corp.

100,300

9,260,699

Komag, Inc. (a)(d)

124,700

4,769,775

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Computers & Peripherals - continued

NCR Corp. (a)

231,100

$ 9,595,272

Seagate Technology

293,700

6,631,746

38,978,432

Electronic Equipment & Instruments - 4.2%

Agilent Technologies, Inc. (a)

125,700

4,474,920

Amphenol Corp. Class A

152,998

10,388,564

Arrow Electronics, Inc. (a)

146,031

4,359,025

Avnet, Inc. (a)

93,188

2,206,692

Flextronics International Ltd. (a)

329,800

3,825,680

FLIR Systems, Inc. (a)

85,600

2,734,064

Ingram Micro, Inc. Class A (a)

126,100

2,598,921

Molex, Inc.

106,500

3,716,850

Solectron Corp. (a)

553,500

1,848,690

Vishay Intertechnology, Inc. (a)

250,100

3,373,849

39,527,255

Internet Software & Services - 0.2%

VeriSign, Inc. (a)

79,700

1,648,196

IT Services - 0.6%

Mastercard, Inc. Class A

39,200

2,904,720

Satyam Computer Services Ltd. sponsored ADR

129,200

2,856,612

5,761,332

Office Electronics - 0.4%

Xerox Corp. (a)

249,100

4,234,700

Semiconductors & Semiconductor Equipment - 4.1%

Applied Materials, Inc.

227,000

3,947,530

ASML Holding NV (NY Shares) (a)

177,000

4,042,680

Atmel Corp. (a)

677,600

3,896,200

Axcelis Technologies, Inc. (a)

301,200

2,078,280

Broadcom Corp. Class A (a)

92,500

2,799,975

Brooks Automation, Inc. (a)

161,800

2,297,560

DSP Group, Inc. (a)

135,784

2,949,228

Intel Corp.

213,300

4,551,822

Maxim Integrated Products, Inc.

128,400

3,853,284

National Semiconductor Corp.

157,230

3,819,117

ON Semiconductor Corp. (a)

586,600

3,648,652

PMC-Sierra, Inc. (a)

63,100

418,353

38,302,681

Software - 4.1%

BEA Systems, Inc. (a)

171,278

2,786,693

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Software - continued

Cognos, Inc. (a)

73,800

$ 2,692,225

Compuware Corp. (a)

214,600

1,725,384

Hyperion Solutions Corp. (a)

66,900

2,502,060

Microsoft Corp.

471,400

13,533,894

Nintendo Co. Ltd.

12,800

2,617,784

Parametric Technology Corp. (a)

147,600

2,884,104

Quest Software, Inc. (a)

181,600

2,674,968

Symantec Corp. (a)

208,500

4,136,640

Ubisoft Entertainment SA (a)

43,548

2,688,075

38,241,827

TOTAL INFORMATION TECHNOLOGY

166,694,423

MATERIALS - 2.5%

Chemicals - 1.0%

Ashland, Inc.

66,556

3,933,460

Cytec Industries, Inc.

13,400

742,226

Monsanto Co.

99,400

4,395,468

9,071,154

Metals & Mining - 1.5%

Alcoa, Inc.

149,000

4,307,590

Titanium Metals Corp. (a)

339,700

10,014,356

14,321,946

TOTAL MATERIALS

23,393,100

TELECOMMUNICATION SERVICES - 5.7%

Diversified Telecommunication Services - 4.2%

AT&T, Inc.

649,720

22,252,910

BellSouth Corp.

177,740

8,016,074

Citizens Communications Co.

21,000

307,860

Verizon Communications, Inc.

241,400

8,931,800

39,508,644

Wireless Telecommunication Services - 1.5%

America Movil SA de CV Series L sponsored ADR

20,100

861,687

American Tower Corp. Class A (a)

119,100

4,289,982

Bharti Airtel Ltd. (a)

39,600

508,691

Crown Castle International Corp.

109,700

3,691,405

MTN Group Ltd.

21,500

195,553

Common Stocks - continued

Shares

Value

TELECOMMUNICATION SERVICES - continued

Wireless Telecommunication Services - continued

Philippine Long Distance Telephone Co. sponsored ADR

6,300

$ 299,943

SBA Communications Corp. Class A (a)

163,300

4,361,743

14,209,004

TOTAL TELECOMMUNICATION SERVICES

53,717,648

UTILITIES - 3.4%

Electric Utilities - 1.6%

Edison International

87,600

3,892,944

Exelon Corp.

75,800

4,698,084

FPL Group, Inc.

44,800

2,284,800

PPL Corp.

126,800

4,377,136

15,252,964

Independent Power Producers & Energy Traders - 1.0%

AES Corp. (a)

423,733

9,317,889

Multi-Utilities - 0.8%

CMS Energy Corp. (a)

272,367

4,055,545

Duke Energy Corp.

113,200

3,581,648

7,637,193

TOTAL UTILITIES

32,208,046

TOTAL COMMON STOCKS

(Cost $829,391,331)

913,648,395

Money Market Funds - 2.7%

Fidelity Cash Central Fund, 5.34% (b)

23,718,409

23,718,409

Fidelity Securities Lending Cash Central Fund, 5.35% (b)(c)

1,576,250

1,576,250

TOTAL MONEY MARKET FUNDS

(Cost $25,294,659)

25,294,659

TOTAL INVESTMENT PORTFOLIO - 99.7%

(Cost $854,685,990)

938,943,054

NET OTHER ASSETS - 0.3%

2,798,725

NET ASSETS - 100%

$ 941,741,779

Legend

(a) Non-income producing

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

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

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

Affiliated Central Funds

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

Fund

Income earned

Fidelity Cash Central Fund

$ 247,892

Fidelity Securities Lending Cash Central Fund

2,981

Total

$ 250,873

Income Tax Information

At October 31, 2006, the aggregate cost of investment securities for income tax purposes was $861,833,891. Net unrealized appreciation aggregated $77,109,163, of which $88,901,529 related to appreciated investment securities and $11,792,366 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. 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. 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. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. The frequency of when fair value pricing is used is unpredictable. The value of securities used under fair value pricing may differ from published prices for the same securities.

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 Corp.

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

December 20, 2006

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

December 20, 2006

By:

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer

Date:

December 20, 2006