FINQX
Fidelity Equity-Income Fund
Fidelity Devonshire Trust
Expense ratio1
1.06%
Net assets2
$10.77B
Holdings2
122
Category
US Equity
Return

Investment objective & strategy

As of March 27, 2026 · prospectus

Objective. Fidelity Equity-Income Fund seeks reasonable income. In pursuing this objective, the fund will also consider the potential for capital appreciation. The fund seeks a yield for its shareholders that exceeds the yield on the securities comprising the S&P 500 Index.

Strategy. Normally investing at least 80% of assets in income-producing equity securities. 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. Income-producing equity securities are equity securities that pay, or are expected to pay within the next three months, dividends or interest. 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 … Normally investing at least 80% of assets in income-producing equity securities. 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. Income-producing equity securities are equity securities that pay, or are expected to pay within the next three months, dividends or interest. 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. Potentially investing in other types of equity securities and 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). Investing in domestic and foreign issuers. 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. Potentially using covered call options as tools in managing the fund's assets. The Adviser's emphasis on income-producing equity securities tends to lead to investments in large cap "value" stocks. However, the Adviser is not constrained by any particular investment style.

Top holdings

As of Jan. 31, 2026 · N-PORT
SecurityTickerValue% of fund
ALPHABET INC CL A $396.09M 3.68%
JPMORGAN CHASE and CO $365.04M 3.39%
EXXON MOBIL CORP $348.31M 3.23%
Fidelity Cash Central Fund $290.90M 2.70%
WELLS FARGO & CO $229.26M 2.13%
LINDE PLC $211.03M 1.96%
JOHNSON&JOHNSON $210.26M 1.95%
BANK OF AMERICA CORPORATION $209.89M 1.95%
SAMSUNG ELECTRONICS CO LTD $207.46M 1.93%
WALMART INC $206.61M 1.92%
View all holdings →

Allocation by sector

As of January 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Oct 31, 2025 → Jan 31, 2026
Opened
2
Exited
3
Increased
27
Decreased
3
Unchanged
90

How 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.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Fidelity Equity-Income K6 Fund · FEKFX 99% 0.34%
VIP Equity-Income Portfolio 94% 0.47%
Fidelity Global Equity Income Fund · FGILX, FGEHX, FGEKX, FGEEX, FGEGX, FGEJX 55% 0.82%
View all similar funds →

Advisers

As of January 31, 2025 · N-CEN
FirmRole
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

  1. Expense ratio as of February 10, 2026, from the fund's prospectus.
  2. Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.

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