Fidelity Asset Manager 40%
Fidelity Charles Street Trust · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity Asset Manager 40% is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2025 Q4
Fidelity Asset Manager 40% seeks current income as well as total return with reduced risk over the long term by allocating its assets among stocks, bonds, and short-term instruments. The fund also considers the potential for capital appreciation.
The fund allocates assets among stocks, bonds, and short-term instruments, maintaining a neutral target mix of 40% stocks, 45% bonds, and 15% money market instruments while adjusting allocations within stated ranges. It invests in domestic and foreign securities across all three asset classes, including through Fidelity's central funds and exchange-traded funds. Because allocations shift within broad ranges rather than remaining fixed, the fund's exposure to each asset class will vary over time.
| Share class | Gross | Net |
|---|---|---|
| FFNCX | 1.55% | 1.53% |
| FFNTX | 1.05% | 1.03% |
| FFNIX | 0.55% | 0.53% |
| FFANX | 0.53% | 0.51% |
| FFNAX | 0.80% | 0.78% |
| FIKYX | 0.49% | 0.47% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 27.00% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 91.75% |
| Cash & short-term | 7.87% |
| Bonds | 0.30% |
| Derivatives | -0.01% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: ISHARES INC, UST BILLS ×5, CHICAGO MERCANTILE EXCH INC, CHICAGO BOARD OF TRADE
Largest exited: UST BILLS ×6, CHICAGO MERCANTILE EXCH INC, CHICAGO BOARD OF TRADE
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +16.49% | +5.03% | -22.94% | 7.03% | -10.10% | |
| +17.09% | -39.51% | -75.77% | 7.02% | -48.51% | |
| +17.61% | +34.72% | +28.04% | 7.05% | -6.20% | |
| +17.67% | +34.58% | +28.24% | 7.05% | -6.35% | |
| +17.39% | -63.70% | -91.71% | 7.03% | -69.18% | |
| +17.61% | +34.73% | +28.28% | 7.04% | -6.34% |
These classes hold the same portfolio, so the 119.99pp spread over 5 years is the cost difference between them — roughly 24.00pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Fidelity Central Investment Portfolios II LLC | 37.38% | $98.30 | $1.06B | 10.8M |
| — | Fidelity Central Investment Portfolios LLC | 22.47% | $169.17 | $636.75M | 3.8M |
| — | Fidelity Central Investment Portfolios LLC | 12.12% | $130.64 | $343.58M | 2.6M |
| — | Fidelity Revere Street Trust | 7.87% | — | $223.17M | — |
| — | Fidelity Central Investment Portfolios LLC | 6.20% | $367.53 | $175.70M | 478.1K |
| — | Fidelity Covington Trust | 2.06% | $48.29 | $58.47M | 1.2M |
| — | Fidelity Central Investment Portfolios II LLC | 1.94% | $90.54 | $54.96M | 607.0K |
| — | Fidelity Covington Trust | 1.67% | $62.11 | $47.20M | 760.0K |
| — | Fidelity Hanover Street Trust | 1.44% | $94.24 | $40.89M | 433.9K |
| — | Fidelity Oxford Street Trust II | 1.33% | $107.63 | $37.69M | 350.2K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 94.48% of net assets, top 25 99.90%, across 12 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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