Fidelity Convertible Securities Fund
Actively managed U.S. bond fund
As of its 2026 Q2 report, Fidelity Convertible Securities Fund held 373 positions with $2.64B in net assets. Its ten largest holdings made up 20.1% of the fund. The FCVSX share class costs 0.64% a year. Over the 12 months to May 2026, FCVSX returned 43.2%, with dividends reinvested. In 2026 Q2 it added 69 new positions and exited 53.
Fidelity Convertible Securities Fund seeks a high level of total return through a combination of current income and capital appreciation.
The fund invests at least 80% of assets in convertible securities—bonds, preferred stocks, and other debt instruments convertible into common stock—selecting them through fundamental analysis of issuer financial condition, industry position, and market conditions. The fund may also hold common stocks and other securities, and may use derivatives to gain exposure to convertible securities or associated market risks. Because security selection depends on the manager's analysis rather than a fixed rule, results will diverge from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
WESTERN DIGITAL CORP 3.00% · due 2028-11-15 | 5.73% | $151.48M | — | — |
Fidelity Revere Street Trust | 3.24% | $85.74M | — | — |
BOEING CO | 2.13% | $56.22M | 775.7K | $72.48 |
ORACLE CORP | 1.63% | $43.15M | 669.5K | $64.45 |
LUMENTUM HOLDINGS INC 0.38% · due 2032-03-15 | 1.47% | $38.90M | — | — |
LUMENTUM HOLDINGS INC 0.50% · due 2028-06-15 | 1.41% | $37.17M | — | — |
COREWEAVE INC 1.75% · due 2032-10-01 | 1.20% | $31.67M | — | — |
WELLTOWER OP LLC 2.75% · due 2028-05-15 | 1.12% | $29.52M | — | — |
WELLS FARGO and CO | 1.11% | $29.45M | 25.1K | $1,172.31 |
GAMESTOP CORP NEW 0.00% · due 2032-06-15 | 1.10% | $29.15M | — | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
The 200 largest of 373 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%.
| Bonds | 77.15% |
| Stocks | 19.32% |
| Cash & short-term | 3.33% |
By sector
- Information Technology
- 38.2%
- Other
- 10.5%
- Industrials
- 8.8%
- Health Care
- 7.6%
- 10 other sectors
- 34.9%
- Information Technology
- 38.2%
- Other
- 10.5%
- Industrials
- 8.8%
- Health Care
- 7.6%
- Utilities
- 7.6%
- Financials
- 6.0%
- International
- 5.5%
- Communication Services
- 3.6%
- Cash
- 3.3%
- Consumer Discretionary
- 3.2%
- Real Estate
- 2.5%
- Energy
- 2.0%
- Materials
- 0.9%
- Consumer Staples
- 0.3%
How it has done
FCVSX share class · total returns with dividends reinvested
Volatility over the last 12 months: 13.24%. Past returns are a record, not a forecast.
The 6 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.64% | +43.17% | +79.71% | +62.38% | -8.35% | |
| 0.94% | +42.69% | +78.04% | +59.86% | -8.47% | |
| 1.71% | +41.65% | +74.89% | +55.46% | -8.64% | |
| 1.19% | +42.39% | +76.89% | +58.00% | -8.56% | |
| 0.68% | +43.11% | +79.48% | +62.12% | -8.37% | |
| 0.55% | +43.29% | +80.18% | +63.03% | -8.37% |
These classes hold the same portfolio, so the 7.57pp spread over 5 years is the cost difference between them — roughly 1.51pp a year — not a difference in what they own.
Fees & fund details
Fidelity Convertible Securities Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.55% – 1.71%· FCVSX 0.64%
- Portfolio turnover
- 89.00% a year · as of 2026 Q1
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.
69 new· the largest 8
53 exited· the largest 7
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 99.2% |
| Floating rate | 0.8% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.9% |
| 1-3y | 33.6% |
| 3-5y | 41.6% |
| 5-10y | 20.3% |
| 10y+ | 0.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 51% |
| Interest rates | 49% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.41 yr |
| Investment grade | +0.35 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.63 yr | 24% |
| 5 yr | 1.80 yr | 68% |
| 10 yr | 0.21 yr | 8% |
30 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.13 yr | 5% |
| 1 yr | 0.75 yr | 27% |
| 5 yr | 1.72 yr | 62% |
| 10 yr | 0.15 yr | 6% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.13 | $534 | $34.8k |
| 1 yr | +0.63 | +0.18 | +0.57 | $48.5k | $150.1k |
| 5 yr | +1.80 | +0.16 | +1.56 | $42.0k | $412.7k |
| 10 yr | +0.21 | +0.00 | +0.15 | $377 | $40.3k |
| 30 yr | -0.00 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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