Fidelity Series Value Discovery Fund
Fidelity Devonshire Trust · 1 share class
Fund classification
Classified from what the fund holds · as of 2026 Q2
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
Fund profile
As filed in the prospectus · 2026 Q1
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.
| Share class | Expense ratio |
|---|---|
| FNKLX | 0.00% |
Portfolio turnover 65.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 98.83% |
| Cash & short-term | 1.13% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Financials | 18.2% |
| Industrials | 13.8% |
| International | 10.8% |
| Health Care | 10.6% |
| 10 smaller | 46.6% |
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
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 |
|---|---|---|---|---|---|
| GOOGL | ALPHABET INCGOOGL | 4.52% | $384.80 | $721.73M | 1.9M |
| AMZN | AMAZON.COM INCAMZN | 3.93% | $265.06 | $626.52M | 2.4M |
| XOM | EXXON MOBIL CORPXOM | 3.74% | $154.33 | $596.15M | 3.9M |
| BAC | BANK OF AMERICA CORPORATIONBAC | 2.48% | $53.46 | $396.38M | 7.4M |
| CSCO | CISCO SYSTEMS INCCSCO | 2.26% | $91.50 | $361.29M | 3.9M |
| MRK | MERCK and CO INCMRK | 2.16% | $109.18 | $344.57M | 3.2M |
| — | CHUBB LTD | 2.02% | $327.00 | $322.57M | 986.4K |
| TRV | TRAVELERS COS INCTRV | 1.96% | $305.14 | $312.70M | 1.0M |
| GOOG | ALPHABET INCGOOG | 1.88% | $381.94 | $299.98M | 785.4K |
| SHEL | SHELL PLCSHEL | 1.87% | $90.67 | $298.25M | 3.3M |
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 26.82% of net assets, top 25 48.77%, across 124 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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