Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. Fidelity Balanced Fund seeks both income and capital growth.
Strategy. Investing approximately 60% of assets in stocks and other equity securities and the remainder in bonds and other debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds), when its outlook is neutral. Investing at least 25% of total assets in fixed-income senior securities. Investing in domestic and foreign issuers. With respect to the fund's equity investments, allocating the fund's assets across different market sectors (at present, communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, and utilities), using different Fidelity managers. With respect to the fund's equity investments, investing in either "growth" stocks or "value" stocks or both. Using … Investing approximately 60% of assets in stocks and other equity securities and the remainder in bonds and other debt securities, including lower-quality debt securities (those of less than investment-grade quality, also referred to as high yield debt securities or junk bonds), when its outlook is neutral. Investing at least 25% of total assets in fixed-income senior securities. Investing in domestic and foreign issuers. With respect to the fund's equity investments, allocating the fund's assets across different market sectors (at present, communication services, consumer discretionary, consumer staples, energy, financials, health care, industrials, information technology, materials, real estate, and utilities), using different Fidelity managers. With respect to the fund's equity investments, investing in either "growth" stocks or "value" stocks or both. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Investing in Fidelity's Central funds (specialized investment vehicles used by Fidelity funds to invest in particular security types or investment disciplines) consistent with the asset classes discussed above.
Top holdings
As of Feb. 28, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Investment Grade Bond Central Fund | — | $21.76B | 34.99% |
| NVIDIA CORP | — | $3.17B | 5.09% |
| ALPHABET INC CL A | — | $2.91B | 4.68% |
| APPLE INC | — | $2.49B | 4.00% |
| MICROSOFT CORP | — | $1.86B | 2.99% |
| AMAZON.COM INC | — | $1.57B | 2.52% |
| META PLATFORMS INC CL A | — | $1.02B | 1.64% |
| BROADCOM INC | — | $826.47M | 1.33% |
| Fidelity Cash Central Fund | — | $826.30M | 1.33% |
| MASTERCARD INC CL A | — | $732.26M | 1.18% |
Portfolio moves
Nov 30, 2025 → Feb 28, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Fidelity Balanced K6 Fund · FBKFX | 98% | 0.32% |
| VIP Stock Selector Portfolio | 62% | 0.50% |
| VIP Balanced Portfolio · QBA2Q | 62% | 0.42% |
Advisers
| Firm | Role |
|---|---|
| FMR Investment Management (UK) Limited | Sub-adviser |
| Fidelity Management & Research (Japan) Limited | Sub-adviser |
| Fidelity Management & Research (Hong Kong) Limited | Sub-adviser |
| Fidelity Management & Research Company LLC | Adviser |
Footnotes
- Expense ratio as of October 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of February 28, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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