Fidelity Magellan Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Fidelity Magellan Fund held 47 positions with $37.77B in net assets. Its ten largest holdings made up 46.8% of the fund. The FMAGX share class costs 0.64% a year. Over the 12 months to May 2026, FMAGX returned 12.8%, with dividends reinvested. In 2026 Q2 it added 7 new positions and exited 13.
Fidelity Magellan 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 constraint to either growth or value style. Because security selection depends on the manager's analysis rather than an index or systematic rule, performance will diverge from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NVDANVIDIA CORP | 10.68% | $4.03B | 20.2M | $200.09 |
AMZNAMAZON.COM INC | 5.76% | $2.18B | 9.1M | $238.34 |
AVGOBROADCOM INC | 4.83% | $1.82B | 4.8M | $377.75 |
MSFTMICROSOFT CORP | 4.47% | $1.69B | 4.5M | $373.02 |
GOOGLALPHABET INC | 3.98% | $1.51B | 4.2M | $357.37 |
3.96% | $1.50B | 2.6M | $580.91 | |
KLACKLA CORP | 3.53% | $1.33B | 4.4M | $301.71 |
GOOGALPHABET INC | 3.40% | $1.28B | 3.6M | $353.33 |
3.38% | $1.28B | 2.3M | $563.29 | |
2.82% | $1.06B | 2.5M | $433.33 |
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 47 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 | 98.85% |
| Cash & short-term | 1.16% |
By sector
- Information Technology
- 40.6%
- Industrials
- 13.9%
- Consumer Discretionary
- 11.0%
- Communication Services
- 10.8%
- 6 other sectors
- 23.8%
- Information Technology
- 40.6%
- Industrials
- 13.9%
- Consumer Discretionary
- 11.0%
- Communication Services
- 10.8%
- International
- 8.7%
- Financials
- 7.6%
- Health Care
- 2.4%
- Materials
- 2.4%
- Consumer Staples
- 1.6%
- Cash
- 1.2%
How it has done
FMAGX share class · total returns with dividends reinvested
Volatility over the last 12 months: 16.21%. 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 7 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.64% | +12.77% | +78.80% | +73.39% | -10.24% | |
| 0.57% | +12.92% | +79.20% | +73.85% | -10.24% | |
| 0.57% | +12.90% | — | — | — | |
| 0.68% | +12.77% | — | — | — | |
| 0.93% | +12.49% | — | — | — | |
| 1.18% | +12.15% | — | — | — | |
| 1.68% | +11.69% | — | — | — |
These classes hold the same portfolio, so the 1.23pp spread over 1 year is the cost difference between them — roughly 1.23pp a year — not a difference in what they own.
Fees & fund details
Fidelity Magellan Fund is an actively managed U.S. equity fund. 38% of FMAGX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 91% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.57% – 1.68%· FMAGX 0.64%
- Portfolio turnover
- 54.00% a year · as of 2026 Q2
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.
7 new
13 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 — FMAGX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”