Fidelity Mid Cap Value Fund
Fidelity Devonshire Trust · 6 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Fidelity Mid Cap Value Fund is an actively managed U.S. equity fund. 16% of FSMVX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 88% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
Fidelity Mid Cap Value Fund seeks long-term growth of capital.
The fund invests at least 80% of assets in common stocks of mid-cap companies that trade below median valuation multiples, using metrics such as free cash flow yield, enterprise value-to-earnings, price-to-book, and projected price-to-earnings relative to the broader equity market. The adviser applies fundamental analysis of financial condition, industry position, and market conditions to select holdings. The fund may also hold foreign securities and use derivatives for market exposure. Because security selection depends on the adviser's valuation assessments, fund performance will diverge from any single value benchmark.
| Share class | Expense ratio |
|---|---|
| FSMVX | 0.84% |
| FMPAX | 1.13% |
| FMPEX | 1.89% |
| FMPTX | 1.38% |
| FMPOX | 0.89% |
| FIDFX | 0.76% |
Portfolio turnover 84.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 100.02% |
| Cash & short-term | 3.74% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Industrials | 17.3% |
| Financials | 14.3% |
| Information Technology | 12.1% |
| Health Care | 8.9% |
| 9 smaller | 47.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Portfolio growth profile
How much of the fund’s stock holdings are in fast-growing companies · as of 2026 Q2
Share of the fund’s equity (by value) in companies whose trailing five-year revenue — or net-income — growth ranks in the top 25% of U.S. public companies. Foreign and newly-listed holdings are excluded, so the figure covers only part of the book. From SEC filings — not investment advice. How we measure this.
Latest quarter
What changed since the fund's previous filing
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 |
|---|---|---|---|---|---|
| +41.92% | +78.57% | +80.07% | 15.52% | -15.02% | |
| +41.47% | -51.92% | -88.37% | 15.48% | -66.01% | |
| +40.46% | +39.78% | +9.09% | 15.48% | -17.82% | |
| +41.11% | -19.89% | -66.03% | 15.50% | -43.65% | |
| +41.84% | +78.33% | +79.67% | 15.49% | -15.02% | |
| +41.99% | +78.99% | +80.90% | 15.54% | -14.97% |
These classes hold the same portfolio, so the 169.27pp spread over 5 years is the cost difference between them — roughly 33.85pp a year — not a difference in what they own.
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 Revere Street Trust | 3.71% | — | $78.07M | — |
| WDC | WESTERN DIGITAL CORPWDC | 3.31% | $434.52 | $69.57M | 160.1K |
| PACS | PACS GROUP INCPACS | 1.63% | $33.55 | $34.32M | 1.0M |
| CIEN | CIENA CORPCIEN | 1.38% | $527.58 | $29.06M | 55.1K |
| SNDK | SANDISK CORPSNDK | 1.38% | $1,096.51 | $28.94M | 26.4K |
| WELL | WELLTOWER INCWELL | 1.33% | $217.34 | $27.94M | 128.6K |
| MOH | MOLINA HEALTHCARE INCMOH | 1.28% | $194.62 | $27.04M | 138.9K |
| ON | ON SEMICONDUCTOR CORPON | 1.17% | $100.81 | $24.64M | 244.4K |
| MLI | MUELLER INDUSTRIES INCMLI | 1.12% | $135.43 | $23.54M | 173.8K |
| PSA | PUBLIC STORAGEPSA | 1.04% | $302.45 | $21.86M | 72.3K |
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.
Top 10 positions are 17.35% of net assets, top 25 30.72%, across 181 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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