Investment objective & strategy
As of Oct. 27, 2025 · prospectusObjective. Fidelity Dividend Growth Fund seeks capital appreciation.
Strategy. Normally investing at least 80% of assets in equity securities. Normally investing primarily in common stocks. Normally investing primarily in companies that currently pay, or have a historical record of paying, dividends. Investing in domestic and foreign issuers. 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. Effective December 11, 2025, normally investing at least 80% of assets in equity securities of dividend growth companies. Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), … Normally investing at least 80% of assets in equity securities. Normally investing primarily in common stocks. Normally investing primarily in companies that currently pay, or have a historical record of paying, dividends. Investing in domestic and foreign issuers. 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. Effective December 11, 2025, normally investing at least 80% of assets in equity securities of dividend growth companies. Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Equity securities include common stocks (including depositary receipts evidencing ownership of common stock), preferred stocks and other preferred securities, convertible securities, rights and warrants, and other securities, such as hybrid securities and trust preferred securities, believed to have equity-like characteristics. Dividend growth companies are companies that the Adviser believes have favorable prospects to pay and grow dividends over time. The Adviser considers a number of factors in determining whether a company is growing dividends, such as whether the company has positive trailing one-year, three-year, or five-year dividend growth per share, whether a company pays dividends and has a year-over-year decrease in shares outstanding due to share buybacks, or whether the company pays dividends and free cash flow is projected to grow. An issuer may be determined to be a dividend growth company under any of these factors. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $912.23M | 8.46% |
| ALPHABET INC CL A | — | $831.24M | 7.70% |
| MICROSOFT CORP | — | $522.80M | 4.85% |
| META PLATFORMS INC CL A | — | $400.02M | 3.71% |
| BOEING CO/THE | — | $315.18M | 2.92% |
| Fidelity Securities Lending Cash Central Fund | — | $225.49M | 2.09% |
| GE VERNOVA LLC | — | $219.90M | 2.04% |
| BROADCOM INC | — | $210.74M | 1.95% |
| WESTERN DIGITAL CORP | — | $210.14M | 1.95% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $199.09M | 1.85% |
Portfolio moves
Oct 31, 2025 → Jan 31, 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 Capital Appreciation Fund · FDCAX, FCAKX | 73% | 0.58% |
| VIP Dynamic Capital Appreciation Portfolio | 67% | 0.62% |
| Fidelity Fundamental Large Cap Core ETF · FFLC | 63% | 0.38% |
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 January 31, 2026, from the fund's N-PORT filing.
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