Fund Evaluator:
Fidelity Contrafund K (FCNKX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Fidelity Contrafund K Overview
Fidelity Contrafund K (FCNKX) is an actively managed U.S. Equity Large Growth fund. Fidelity Investments launched the fund in 2008.
The investment seeks capital appreciation. The fund normally invests primarily in common stocks. It invests in securities of companies whose value the advisor believes is not fully recognized by the public. The fund invests in domestic and foreign issuers. It invests in either "growth" stocks or "value" stocks or both. The advisor uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions to select investments.
About Fidelity Contrafund K (FCNKX)
There are 3 members of the management team with an average tenure of 12.83 years: Asher Anolic (2025), William Danoff (1990), Jason Weiner (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Fidelity Contrafund K has 442 securities in its portfolio. The top 10 holdings constitute 45.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Fidelity Contrafund K is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Contrafund K has 8.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 80.9%. There is 8.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Contrafund K has 1.5% of the portfolio in cash.
Assets Under Management
The fund has $12 billion in total assets, which is above the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FCNKX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Contrafund K expense ratio is above average compared to funds in the Large Growth category. Fidelity Contrafund K has an expense ratio of 0.67%, which is 30% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Contrafund K has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, Fidelity Contrafund K returned -3.2%, which earned it a grade of C, as the Large Growth category had an average return of -3.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Fidelity Contrafund K has a trailing yield of 0.00%, which is below the 0.06% category average.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Contrafund K Grades
Year to date, the fund has returned 6.9%, 3.1 percentage points better than the category, which translates into a grade of B. The fund has returned 12.9% over the past year (grade of B), 23.7% over the past three years (grade of A) and 13.6% per year over the past five years (grade of A) and 17.3% per year over the past 10 years (grade of A).
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FCNKX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FCNKX Return (NAV) | -3.2% | 2.6% | 12.9% | 23.7% | 13.6% | 17.3% |
| FCNKX Grade | C | B | B | A | A | A |
| +/- Category | -0.2% | 0.8% | 3.8% | 5.7% | 4.9% | 1.9% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| FCNKX Tax Cost Ratio | na | na | 1.1% | 1.0% | 1.6% | 1.5% |
FCNKX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FCNKX Return (NAV) | 6.9% | 21.9% | 36.1% | 39.5% | -28.2% | 24.4% | 32.7% | 30.2% | -2.1% | 32.3% | 3.5% |
| FCNKX Grade | B | A | A | C | B | B | D | D | D | B | C |
| +/- Category | 3.1% | 6.2% | 6.4% | 0.6% | 3.9% | 4.0% | -9.6% | -3.0% | -1.4% | 2.5% | 0.7% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 14.6% |
| Total Risk Index: | 1.19 - Above Average |
| Category Risk Index: | 0.83 - Low |
| Category Risk Grade: | A (11% Rank) |
| Beta: | 1.03 |
| R-Squared: | 84% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | |
| Cap Gains Distribution: | |
| Total Assets: | $172685 Mil |
| Fund Total Assets: | $12,889 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 29% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 35.9 years | |||
| Average Tenure: 12.8 years | |||
| Managers (Year): Danoff William (1990), Weiner Jason (2025), Anolic Asher (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 442 |
| % in Top 10 Holdings: | 45.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 8.6% |
Portfolio Allocation |
|
| Domestic Stock: | 80.9% |
| Foreign Stock: | 8.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 9.0% |
| Cash: | 1.5% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 800-835-5092 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | May 9, 2008 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.67% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Fidelity Contrafund |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
