Investment objective & strategy
As of May 27, 2025 · prospectusObjective. Fidelity Magellan Fund seeks capital appreciation.
Strategy. Normally investing primarily in common stocks. 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. Normally investing primarily in common stocks. 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 March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| NVIDIA CORP | — | $3.52B | 10.66% |
| MICROSOFT CORP | — | $2.36B | 7.13% |
| AMAZON.COM INC | — | $1.91B | 5.77% |
| BROADCOM INC | — | $1.58B | 4.77% |
| META PLATFORMS INC CL A | — | $1.32B | 3.99% |
| JPMORGAN CHASE and CO | — | $828.59M | 2.51% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $734.50M | 2.22% |
| NETFLIX INC | — | $683.49M | 2.07% |
| VISA INC-CLASS A | — | $669.20M | 2.02% |
| KLA CORP | — | $653.16M | 1.98% |
Portfolio moves
Dec 31, 2025 → Mar 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 Magellan K6 Fund · FMKFX | 99% | 0.45% |
| Fidelity Magellan ETF · FMAG | 87% | 0.57% |
| Fidelity Disciplined Equity Fund · FDEQX, FDEKX | 52% | 0.59% |
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 May 27, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 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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