Investment objective & strategy
As of Sept. 24, 2025 · prospectusObjective. Fidelity Low-Priced Stock K6 Fund seeks capital appreciation.
Strategy. Normally investing primarily in common stocks. Normally investing at least 80% of assets in low-priced stocks . Low-priced stocks are those that are priced at or below $35 per share or with an earnings yield at or above the median for the Russell 2000 Index. Earnings yield represents a stock's earnings per share for the most recent 12-months divided by current price per share. For convertible preferred stocks, the Adviser may consider the price of the security itself or the price of the security into which it is convertible. For the purposes of this policy, securities contributed in kind to the fund representing the proceeds of a redemption in kind from a product employing a substantially similar investment strategy that … Normally investing primarily in common stocks. Normally investing at least 80% of assets in low-priced stocks . Low-priced stocks are those that are priced at or below $35 per share or with an earnings yield at or above the median for the Russell 2000 Index. Earnings yield represents a stock's earnings per share for the most recent 12-months divided by current price per share. For convertible preferred stocks, the Adviser may consider the price of the security itself or the price of the security into which it is convertible. For the purposes of this policy, securities contributed in kind to the fund representing the proceeds of a redemption in kind from a product employing a substantially similar investment strategy that is managed by the Adviser or an affiliate shall be deemed to constitute low-priced stocks. Stocks are a type of equity security that represent an ownership interest in an issuer. Stocks include common stocks (including depositary receipts evidencing ownership of common stock) and preferred stocks. Effective December 11, 2025, 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 stocks not considered low-priced. 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.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Fidelity Securities Lending Cash Central Fund | — | $93.81M | 2.23% |
| Fidelity Cash Central Fund | — | $69.15M | 1.64% |
| WELLS FARGO & CO | — | $62.97M | 1.49% |
| TOTALENERGIES SE | — | $54.48M | 1.29% |
| PG&E CORP | — | $43.87M | 1.04% |
| OVINTIV INC | — | $41.53M | 0.99% |
| GILEAD SCIENCES INC | — | $39.93M | 0.95% |
| SAMSUNG ELECTRONICS CO LTD | — | $39.47M | 0.94% |
| TD SYNNEX CORP | — | $39.08M | 0.93% |
| PRIMO BRANDS CORP A | — | $36.77M | 0.87% |
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 Low-Priced Stock Fund · FLPSX, FLPKX, FLPEX, FLPDX, FLPFX, FLPGX, FLPCX | 97% | 0.79% |
| Fidelity Series Intrinsic Opportunities Fund · FDMLX | 72% | 0.00% |
| Fidelity Fundamental Small-Mid Cap ETF · FFSM | 24% | 0.43% |
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 September 24, 2025, from the fund's prospectus.
- Net assets and holdings count as of January 31, 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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