 | Will is dedicated to the long-term benefits of active management. During his 33-year manager tenure, the Fidelity® Contrafund® (FCNTX) has averaged an incredible 13.28% annualized average return, more than 2% greater than the annual returns from the benchmark S&P 500 Index.* The Fidelity Contrafund is an actively managed domestic equity fund that seeks long-term growth of capital and can be an appropriate core equity holding for investors seeking broad exposure to companies we think have "best-of-breed" qualities and are underappreciated by other investors. This includes companies that have shown a strong competitive position, high returns on capital, and solid free cash flow generation, as well as management teams that have been stewards of shareholder capital. Market corrections occur, so staying the course with a skilled manager may benefit shareholders over the long term. |
FAQs
Who manages the Fidelity Contrafund? ›
Fidelity Contrafund
William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund. Contrafund is one of Fidelity's largest mutual funds holding over $129 billion in assets, making it the largest single-manager mutual fund in the world.
One substantial disadvantage drove the rating downgrade for this otherwise excellent fund, says Morningstar's analyst. Fidelity Contrafund FCNTX remains excellent, but its colossal asset base is a substantial disadvantage and warrants a Morningstar Analyst Rating downgrade to Silver from Gold.
Is Fidelity Contrafund a good investment? ›Returns. This fund scores Above Average because it delivered returns that were in the top 22.5% when compared to other funds within its Morningstar category.
Who is the most famous Fidelity fund manager? ›Peter Lynch is one of the most successful investors in history. Lynch's love for investing began in his early years working as a caddy. At age 33, Peter Lynch was appointed to manage the legendary Magellan Fund at Fidelity.
What are the top 10 holdings in Fidelity Contrafund? ›- META. Meta Platforms, Inc. 13.78%
- BRK.A. BRK.A 8.71%
- NVDA. NVIDIA Corporation 6.71%
- AMZN. Amazon.com, Inc. 6.53%
- MSFT. Microsoft Corporation 6.49%
- LLY. Eli Lilly and Company 3.23%
- AAPL. Apple Inc. 2.90%
- GOOGL. Alphabet Inc. 2.54%
Fidelity Investments is owned by privately held FMR LLC, which is controlled by the Johnson family. The family, along with a small group of FMR employees and shareholders, are also investors in F-Prime Capital, the private venture capital arm.
What happens if Fidelity goes bust? ›The Securities Investor Protection Corporation (SIPC) is a nonprofit organization that protects stocks, bonds, and other securities in case a brokerage firm goes bankrupt and assets are missing. The SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash held in a brokerage account.
Is Fidelity Contrafund better than the SP500? ›Key Morningstar Metrics for Fidelity Contrafund
The fund's roughly 13% annualized gain over the past decade beat the S&P 500 (the fund's broad-market prospectus benchmark) and ranked among the best-performing third of funds in either the large-blend or large-growth Morningstar Categories.
| NAV | $20.04 as of 06/24/2024 |
|---|---|
| Exp Ratio (Net) - Prospectus | 0.39% as of 03/01/2024 |
| 12 Month Low-High | $14.26-$19.57 as of 05/31/2024 |
| Turnover Rate | 16% as of 12/01/2023 |
| Net Assets ($M) | $126,283.61 as of 05/31/2024 |
Protecting your assets
With our Customer Protection Guarantee, we reimburse you for losses from unauthorized activity in your accounts. We also participate in asset protection programs such as FDIC and SIPC to help provide the best service possible.
Is Fidelity as good as Vanguard? ›
While Fidelity wins out overall, Vanguard is the best option for retirement savers. Its platform offers tools and education focused specifically on retirement planning.
Does Fidelity Contrafund pay a dividend? ›FCNTX has paid $0.51 per share in the past year, which gives a dividend yield of 2.53%.
How many millionaires use Fidelity? ›The universe of 401(k) accounts with balances of $1 million or more at Fidelity Investments rose to a record 485,000 in the first quarter, according to the company. With stocks surging, the number of retirement account millionaires jumped 15% from the prior quarter and 43% since March 2023.
Who owns most of Fidelity? ›The founding Johnson family, individually and through various trusts, owns stock representing a 49% voting interest in FMR, and have signed agreements pledging to vote all their shares as a bloc. Edward Johnson III was chairman of the group, but was replaced by his daughter, Abigail Johnson.
Why did Peter Lynch quit? ›Lynch always remembered how it felt not having his dad at home with him, with this in mind for his 3 daughters, he retired at the top of his career to spend more time with his family!
Is the Contrafund better than the S&P 500? ›Key Morningstar Metrics for Fidelity Contrafund
The fund's roughly 13% annualized gain over the past decade beat the S&P 500 (the fund's broad-market prospectus benchmark) and ranked among the best-performing third of funds in either the large-blend or large-growth Morningstar Categories.
| Manager | Since |
|---|---|
| William Danoff | 09/17/1990 |
The Boston-based Johnson family owns 49% of mutual fund company Fidelity. The other 51% is owned by employees. Abigail Johnson is the third generation of the family to run the company.
Is FCNTX actively managed? ›About FCNTX
The Fidelity Contrafund is a growth and value stock fund that focuses on generating capital gains rather than income. The fund is the "largest solely managed active equity mutual fund in the world," according to Fidelity.