 | 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? ›
Will Danoff, Fidelity® Contrafund.
Is Fidelity Contrafund a good investment? ›Overall Rating
Morningstar has awarded this fund 4 stars based on its risk-adjusted performance compared to the 1100 funds within its Morningstar Category.
Shares of the fund are only available for purchase by mutual funds for which FMR or an affiliate serves as investment manager. This fund is closed to new investors.
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.
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 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.
As of November 27, 2023, the fund has assets totaling almost $105.02 billion invested in 349 different holdings.
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? ›
Most of the remaining 51% of the company is held by various Fidelity employees and ex-employees, including fund managers and ex-managers, such as Peter Lynch.
Who is the parent company of Fidelity? ›Fidelity Investments' companies
FMR LLC is the parent company of various Fidelity entities. Some of these entities are financial services companies that may be registered under federal or state laws.
William Danoff is the single manager of the Fidelity Investments' flagship mutual fund Contrafund.
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.
Fidelity Contrafund (symbol FCNTX) is a mutual fund operated and provided by Fidelity Investments. Its current manager is William Danoff, who has headed the fund since 1990.
Who controls Fidelity? ›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.