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FLPSX Fidelity® Low-Priced Stock

  • Fund
  • FLPSX
  • Price as of: Dec 06, 2016
  • $50.48
  • + $0.20
  • + 0.40%
  • Category
  • Mid Cap Value Equities

FLPSX - Profile

Vitals

  • YTD Return 5.7%
  • 3 Yr Annualized Return 4.6%
  • 5 Yr Annualized Return 11.4%
  • Net Assets $38.1 B
  • Holdings in Top 10 23.8%

52 WEEK LOW AND HIGH

$50.48
$42.87
$50.48

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.88%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 9.00%

TRADING FEES

  • Max Redemption Fee 1.50%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Investment Themes

CATEGORY

Mid Cap Value Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Mid-Cap Value

Distributions

  • YTD Total Return 5.7%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 11.4%
  • Capital Gain Distribution Frequency None
  • Net Income Ratio 1.24%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name Fidelity® Low-Priced Stock Fund
  • Fund Family Name Fidelity Investments
  • Inception Date Dec 27, 1989
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Justin Bennett

Fund Description

The Fidelity® Low-Priced Stock Fund (FLPSX) is a mutual fund that invests primarily in stocks that trade below $35 at the time of purchase. The fund was launched on December 27, 1989 and is managed by Fidelity Management & Research Company’s Joel Tillinghast since its inception. With around 900 holdings, the fund has over $45 billion in assets under management (AUM) and has 80% of its holdings trading under $35 at the time of purchase.
This fund requires an initial investment of at least $2,500 for both regular and IRA accounts. Additional deposits into the fund are required to be at least $500. There is a required balance of $2,000 on this fund.
The fund seeks to invest in high quality companies with stable growth prospects and attractive valuations. The fund’s management team seeks opportunities both inside and outside its benchmark. This fund is well diversified although almost have of its holdings are in the Consumer Cyclical and Technology sectors. Regionally, most of the fund’s holdings are based in the Americas, although it is invested in both Europe and Asia.
The fund is subject to regular stock market risk, including political, regulatory, market, or economic events. This fund offers an attractive amount of diversification, which may protect investors from major losses. Investors should also take the fund’s foreign exposure into consideration when examining risk. Foreign stocks may be at risk for currency exchange rate risks, as well as political and economic risks.

The fund was closed to new investors in 2003, but reopened in 2008. Its current asset allocation features stocks of all market capitalizations, although it does focus on small- and mid-cap stocks. The fund focuses on finding low priced stocks that have long term growth expectations.

FLPSX - Performance

Return Ranking - Trailing

Period FLPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.7% -16.3% 31.1% 85.04% 5
1 Yr 0.3% -33.1% 29.7% 90.76% 5
3 Yr 4.6% * -9.7% 12.5% 85.33% 5
5 Yr 11.4% * -4.5% 21.3% 85.75% 5
10 Yr 7.4% * -1.2% 10.7% 25.86% 2

* Annualized


Return Ranking - Calendar

Period FLPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.0% -30.9% 0.7% 10.27% 1
2014 1.6% -18.7% 14.7% 45.13% 3
2013 25.2% -39.7% 66.3% 50.00% 3
2012 10.6% 0.0% 41.2% 74.17% 4
2011 -6.9% -34.9% 5.7% 53.62% 3

Total Return Ranking - Trailing

Period FLPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 5.7% -16.3% 31.1% 89.45% 5
1 Yr 0.3% -28.1% 97.8% 88.86% 5
3 Yr 4.6% * -9.5% 12.5% 81.87% 5
5 Yr 11.4% * -5.6% 21.3% 82.62% 5
10 Yr 7.4% * -1.2% 10.7% 24.92% 2

* Annualized


Total Return Ranking - Calendar

Period FLPSX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 1.9% -26.7% 2.4% 2.93% 1
2014 8.7% -12.4% 25.7% 68.52% 4
2013 44.4% 0.0% 165.8% 65.12% 4
2012 28.0% 0.0% 258.2% 39.34% 2
2011 -0.7% -53.5% 12.7% 15.79% 1

NAV & Total Return History

FLPSX - Holdings

Filings data as of: Jul 31, 2016

Concentration Analysis

FLPSX Category Low Category High FLPSX % Rank Quintile
Net Assets 38.1 B 313 K 38.1 B 0.24% 1
Number of Holdings 910 20 2644 0.47% 1
Net Assets in Top 10 9.53 B 105 K 9.53 B 0.24% 1
Weighting of Top 10 23.8% 6.4% 75.7% 16.04% 3

Top 10 Holdings

  1. Next PLC 2.41%
  2. UnitedHealth Group Inc 5.47%
  3. Seagate Technology PLC 2.19%
  4. Best Buy Co Inc 2.53%
  5. Metro Inc 2.51%
  6. Ross Stores Inc 2.72%
  7. AutoZone Inc 1.64%
  8. DCC PLC 1.56%
  9. Unum Group 1.44%
  10. Aetna Inc 1.32%

Asset Allocation

Weighting Category Low Category High FLPSX % Rank Quintile
Stocks
88.15% 47.12% 100.15% 29.01% 5
Cash
11.81% -0.15% 52.89% 2.12% 1
Other
0.02% -5.25% 5.12% 8.02% 2
Bonds
0.01% -0.05% 21.99% 3.54% 1
Preferred Stocks
0.00% 0.00% 14.07% 3.54% 5
Convertible Bonds
0.00% 0.00% 2.49% 2.59% 5

Stock Sector Breakdown

Weighting Category Low Category High FLPSX % Rank Quintile
Consumer Cyclical
24.20% 0.00% 31.91% 1.42% 1
Technology
14.10% 0.00% 31.67% 7.31% 1
Healthcare
12.29% 0.00% 21.19% 2.12% 1
Financial Services
11.51% 0.00% 37.79% 29.48% 5
Consumer Defense
9.29% 0.00% 15.99% 2.83% 1
Industrials
8.27% 0.00% 43.44% 28.30% 5
Energy
4.30% -0.85% 37.42% 27.12% 5
Basic Materials
2.58% 0.00% 18.74% 25.24% 5
Real Estate
0.91% 0.00% 48.98% 28.07% 5
Utilities
0.40% 0.00% 14.65% 27.59% 5
Communication Services
0.18% 0.00% 9.76% 14.62% 3

Stock Geographic Breakdown

Weighting Category Low Category High FLPSX % Rank Quintile
US
52.42% 40.09% 100.00% 33.25% 5
Non US
35.73% -0.18% 35.73% 0.24% 1

Bond Sector Breakdown

Weighting Category Low Category High FLPSX % Rank Quintile
Cash & Equivalents
11.77% -0.15% 52.89% 1.65% 1
Derivative
0.04% -0.75% 13.36% 0.47% 1
Corporate
0.02% 0.00% 23.33% 6.38% 2
Securitized
0.00% 0.00% 4.31% 1.18% 5
Municipal
0.00% 0.00% 0.00% 0.24% 5
Government
0.00% 0.00% 15.03% 1.89% 5

Bond Geographic Breakdown

Weighting Category Low Category High FLPSX % Rank Quintile
US
0.01% -0.05% 21.99% 3.54% 1
Non US
0.00% 0.00% 0.62% 0.71% 5

FLPSX - Expenses

Operational Fees

FLPSX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 0.88% 0.08% 19.64% 35.14% 1
Management Fee 0.72% 0.04% 1.26% 5.19% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.40% N/A N/A

Sales Fees

FLPSX Fees (% of AUM) Category Low Category High FLPSX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

FLPSX Fees (% of AUM) Category Low Category High FLPSX Rank Quintile
Max Redemption Fee 1.50% 0.50% 2.00% 5.13% 3

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FLPSX Fees (% of AUM) Category Low Category High FLPSX Rank Quintile
Turnover 9.00% 6.63% 493.00% 23.11% 1

FLPSX - Distributions

Dividend Yield Analysis

FLPSX Category Low Category High FLPSX % Rank Quintile
Dividend Yield 0.6% 0.00% 2.23% 2.98% 1

Dividend Distribution Analysis

FLPSX Category Low Category High Category Mode
Dividend Distribution Frequency None Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

FLPSX Category Low Category High FLPSX % Rank Quintile
Net Income Ratio 1.24% -3.26% 5.97% 10.61% 1

Capital Gain Distribution Analysis

FLPSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency None Annually Daily Annually

FLPSX - Managers

Justin Bennett

Manager

Start Date

Sep 06, 2011

Tenure

5.16

Tenure Rank

12.7%

Bennett is a portfolio manager with Fidelity Investments. He joined Fidelity Investments as a research analyst in August 2005. Previously, he was an equity research associate at Morgan Stanley.


Katherine Buck

Manager

Start Date

Sep 06, 2011

Tenure

5.16

Tenure Rank

12.7%

Ms. Buck has worked as a research analyst and portfolio manager of Fidelity. Before joined fidelity, he worked in Wayne Hummer Management as a portfolio manager in May 2008. From March 2006 until December 2007, she was employed as a small cap value portfolio manager for Magnetar Capital LLC, a multi-strategy hedge fund. In that capacity she managed capital within the hedge fund and also launched a fund for outside investors in July 2007, which ceased operations in February 2008. Buck spent the first 10 years of her career at Fidelity Management & Research in Boston.


John Mirshekari

Manager

Start Date

Sep 06, 2011

Tenure

5.16

Tenure Rank

12.7%

Since joining Fidelity Investments in 2003, Mr. Mirshekari has worked as a research analyst and portfolio manager.


Shadman Riaz

Manager

Start Date

Sep 06, 2011

Tenure

5.16

Tenure Rank

12.7%

Shadman Riaz is co-manager of Series Small Cap Opportunities Fund, which he has managed since October 2009. Since joining Fidelity Investments in 2001, Mr. Riaz has served as a research analyst and portfolio manager.


Joel C. Tillinghast

Lead Manager

Start Date

Dec 27, 1989

Tenure

26.86

Tenure Rank

0.2%

Joel Tillinghast is a portfolio manager for Fidelity Investments. He joined Fidelity Investments in 1986 as an equity analyst covering the tobacco, coal, natural gas, personal care products, and appliance industries. He later served as portfolio assistant on Fidelity OTC Portfolio, a fund available to U.S. investors. Mr. Tillinghast received a Bachelor of Arts degree in economics from Wesleyan University, in Connecticut, and an MBA from the Kellogg School of Management at Northwestern University.


James M. Harmon

Manager

Start Date

Sep 06, 2011

Tenure

5.16

Tenure Rank

12.7%

Harmon is a portfolio manager with Fidelity Investments, his employer since 1995. He joined the firm as an equity analyst covering biotechnology and smaller health-care services companies. Previously, Mr. Harmon has worked as a research analyst, portfolio assistant in Fidelity Investments. Before that he was a junior analyst with Essex Investment Management Co., Inc.


Morgen Peck

Manager

Start Date

May 31, 2016

Tenure

0.42

Tenure Rank

20.9%

Joining Fidelity Investments in 2003, Ms. Peck has worked as a research analyst and portfolio manager.


Tenure Analysis

Category Low

0.1

Category High

28.3

Category Average

7

Category Mode

1.9