FMR
large-active, fidelity, lo
Quarter Analysis
13F change notes for FMR in 2025-12-31.
Quiet FMR quarter — book up modestly to $1.96T, top weights all persistence with small drift. Top-3 weight 20.2% → 18.5% from price + tiny share trims. NVDA still 9%+ of book at an extreme +7511% unrealized (suggesting some of the holding goes back to NVDA's pre-2010 era inside long-tenured Fidelity funds).
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★ HELD
NVIDIA CORPORATION NVDA
51 quarters held, +7511% unrealized — likely reflects holdings deep within long-tenured Fidelity funds (Contrafund, Magellan, OTC Portfolio) that have held NVDA across two-plus decades.
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★ HELD
MICROSOFT CORP MSFT
51 quarters at +324% unrealized; cut -5% shares this quarter.
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★ HELD
META PLATFORMS INC META
51 quarters at +547% unrealized, trimmed -6% shares.
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★ HELD
ALPHABET INC GOOGL
41 quarters held at +323% unrealized — weight up 2.91% → 3.70% on price.
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• CONTEXT
Pure platform persistence — no rotation, no rotation signal at FMR scale this quarter.