Fidelity Capital Appreciation Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Fidelity Capital Appreciation Fund held 166 positions with $7.62B in net assets. Its ten largest holdings made up 40.0% of the fund. The FDCAX share class costs 0.66% a year. Over the 12 months to May 2026, FDCAX returned 35.4%, with dividends reinvested. In 2026 Q3 it added 37 new positions and exited 32.
Fidelity Capital Appreciation Fund seeks capital appreciation.
The fund invests primarily in common stocks of domestic and foreign companies selected through fundamental analysis of financial condition, industry position, and market conditions, with no restriction to growth or value styles. Because security selection depends on the manager's analysis, fund holdings and performance will differ from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NVDANVIDIA CORP | 8.35% | $635.96M | 3.2M | $199.57 |
AMZNAMAZON.COM INC | 6.55% | $498.94M | 1.9M | $265.06 |
GOOGLALPHABET INC | 4.87% | $370.73M | 963.4K | $384.80 |
MSFTMICROSOFT CORP | 3.32% | $252.95M | 620.3K | $407.78 |
AAPLAPPLE INC | 3.15% | $239.74M | 883.5K | $271.35 |
2.93% | $223.04M | 513.3K | $434.52 | |
Fidelity Revere Street Trust | 2.91% | $221.43M | — | — |
2.86% | $218.21M | 356.6K | $611.91 | |
GOOGALPHABET INC | 2.70% | $205.41M | 537.8K | $381.94 |
SEAGATE TECHNOLOGY HOLDINGS PLC | 2.38% | $181.41M | 269.3K | $673.64 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 166 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 | 99.51% |
| Cash & short-term | 3.44% |
By sector
- Information Technology
- 22.7%
- International
- 13.7%
- Consumer Discretionary
- 13.4%
- Financials
- 8.7%
- 10 other sectors
- 41.5%
- Information Technology
- 22.7%
- International
- 13.7%
- Consumer Discretionary
- 13.4%
- Financials
- 8.7%
- Industrials
- 8.4%
- Communication Services
- 7.9%
- Health Care
- 6.9%
- Energy
- 3.9%
- Cash
- 3.9%
- Consumer Staples
- 3.6%
- Real Estate
- 2.5%
- Materials
- 1.9%
- Other
- 1.7%
- Utilities
- 0.8%
How it has done
FDCAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 15.57%. Past returns are a record, not a forecast.
Jun 2026 and Jul 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.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.66% | +35.41% | +101.11% | +96.38% | -9.39% | |
| 0.58% | +35.49% | +101.51% | +97.07% | -9.36% |
These classes hold the same portfolio, so the 0.69pp spread over 5 years is the cost difference between them — roughly 0.14pp a year — not a difference in what they own.
Fees & fund details
Fidelity Capital Appreciation Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.58% – 0.66%· FDCAX 0.66%
- Portfolio turnover
- 84.00% a year · as of 2025 Q4
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.
37 new· the largest 8
32 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — FDCAX, QQQ and the fund in my 401(k)?”
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- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”