Fidelity Asset Manager 85%
Actively managed U.S. stock fund
As of its 2026 Q2 report, Fidelity Asset Manager 85% held 35 positions with $6.97B in net assets. Its ten largest holdings made up 94.6% of the fund. The FAMRX share class costs 0.63% a year. Over the 12 months to May 2026, FAMRX returned 30.9%, with dividends reinvested. In 2026 Q2 it added 15 new positions and exited 15.
Fidelity Asset Manager 85% seeks to maximize total return over the long term by allocating its assets among stocks, bonds, short-term instruments, and other investments.
The fund maintains a target allocation of 85% stocks and 15% bonds and short-term instruments, adjusting gradually within ranges of 60%–100% for stocks and 0%–40% for fixed income. It invests across domestic and foreign issuers through a mix of direct securities and Fidelity's Central funds and exchange-traded funds. Because the fund adjusts its allocation within stated ranges rather than holding a fixed mix, actual exposure to stocks and bonds will vary over time.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Fidelity Central Investment Portfolios LLC | 40.93% | $2.85B | 16.9M | $169.17 |
Fidelity Central Investment Portfolios LLC | 21.72% | $1.51B | 11.6M | $130.64 |
Fidelity Central Investment Portfolios LLC | 11.35% | $791.62M | 2.2M | $367.53 |
Fidelity Central Investment Portfolios II LLC | 7.43% | $518.07M | 5.3M | $98.30 |
Fidelity Covington Trust | 3.76% | $262.36M | 5.4M | $48.29 |
Fidelity Covington Trust | 3.09% | $215.39M | 3.5M | $62.11 |
Fidelity Central Investment Portfolios II LLC | 1.94% | $135.38M | 1.5M | $90.54 |
Fidelity Covington Trust | 1.56% | $108.68M | 2.8M | $38.21 |
Fidelity Hanover Street Trust | 1.45% | $101.18M | 1.1M | $94.24 |
Fidelity Oxford Street Trust II | 1.33% | $92.54M | 859.8K | $107.63 |
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.
All 35 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 99.58% |
| Cash & short-term | 0.93% |
| Bonds | 0.20% |
| Derivatives | 0.03% |
Derivatives are shown at market value, not notional exposure.
How it has done
FAMRX share class · total returns with dividends reinvested
Volatility over the last 12 months: 12.63%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.63% | +30.88% | +71.25% | +58.65% | -9.45% | |
| 0.67% | +30.82% | +71.05% | +58.41% | -9.43% | |
| 0.92% | +30.49% | +69.73% | +56.36% | -9.49% | |
| 1.67% | +29.54% | +66.77% | +52.02% | -9.65% | |
| 1.17% | +30.18% | +68.49% | +54.39% | -9.52% | |
| 0.56% | +30.97% | +71.59% | +59.31% | -9.38% |
These classes hold the same portfolio, so the 7.29pp spread over 5 years is the cost difference between them — roughly 1.46pp a year — not a difference in what they own.
Fees & fund details
Fidelity Asset Manager 85% 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
- Expense ratio, by class
- 0.56% – 1.67%· FAMRX 0.63%
- Portfolio turnover
- 29.00% a year · as of 2025 Q4
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
15 new· the largest 3
15 exited· the largest 3
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.
Understand how this fund fits with the rest.
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