Fidelity Series Value Discovery Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Fidelity Series Value Discovery Fund held 126 positions with $15.96B in net assets. Its ten largest holdings made up 26.8% of the fund. The FNKLX share class costs 0% a year. Over the 12 months to May 2026, FNKLX returned 25.8%, with dividends reinvested. In 2026 Q3 it added 21 new positions and exited 22.
Fidelity Series Value Discovery Fund seeks capital appreciation.
The fund invests at least 80% of assets in common stocks of companies it identifies as undervalued using fundamental analysis, applying screens such as free cash flow yield above market median, enterprise value-to-earnings below market median, or price-to-book and price-to-earnings ratios below market median. It holds both domestic and foreign securities. Because security selection depends on the adviser's assessment of which companies meet value criteria, fund holdings will differ from any benchmark.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
GOOGLALPHABET INC | 4.52% | $721.73M | 1.9M | $384.80 |
AMZNAMAZON.COM INC | 3.93% | $626.52M | 2.4M | $265.06 |
3.74% | $596.15M | 3.9M | $154.33 | |
2.48% | $396.38M | 7.4M | $53.46 | |
2.26% | $361.29M | 3.9M | $91.50 | |
2.16% | $344.57M | 3.2M | $109.18 | |
CHUBB LTD | 2.02% | $322.57M | 986.4K | $327.00 |
1.96% | $312.70M | 1.0M | $305.14 | |
GOOGALPHABET INC | 1.88% | $299.98M | 785.4K | $381.94 |
SHELSHELL PLC | 1.87% | $298.25M | 3.3M | $90.67 |
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 126 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 | 98.83% |
| Cash & short-term | 1.13% |
By sector
- Financials
- 16.7%
- Information Technology
- 13.9%
- Health Care
- 13.3%
- Consumer Discretionary
- 12.3%
- 10 other sectors
- 43.8%
- Financials
- 16.7%
- Information Technology
- 13.9%
- Health Care
- 13.3%
- Consumer Discretionary
- 12.3%
- Industrials
- 9.7%
- International
- 9.7%
- Consumer Staples
- 6.6%
- Energy
- 5.9%
- Communication Services
- 4.1%
- Materials
- 3.1%
- Cash
- 2.1%
- Utilities
- 1.7%
- Real Estate
- 0.8%
- Other
- 0.1%
How it has done
FNKLX share class · total returns with dividends reinvested
Volatility over the last 12 months: 9.79%. 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.
Fees & fund details
Fidelity Series Value Discovery Fund is an actively managed U.S. equity fund. 3% of FNKLX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 86% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.00%· FNKLX 0.00%
- Portfolio turnover
- 65.00% 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.
21 new· the largest 8
22 exited· the largest 8
Understand how this fund fits with the rest.
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