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Fidelity Contrafund Commingled Pool
QUARTERLY REVIEW | AS OF JUNE 30, 2022 Fidelity Contrafund Commingled PoolInvestment Approach Fidelity Contrafund Commingled Pool is an opportunistic, diversified equity strategy with a large-cap growth bias. Philosophically, we believe stock prices follow companies' earnings, and those companies that can deliver durable multiyear earnings growth provide attractive investment opportunities. As a result, our investment approach seeks companies we believe are poised for sustained, above-average earnings growth that is not accurately reflected in the stocks' current valuation.
Outlook and Positioning The markets continue to grapple with an uneven global expansion, high inflation and the beginning of a shift toward less accommodative monetary policy. We expect the constructive U.S. mid-cycle backdrop to prevail during 2022, but less favorable monetary policy and a host of other uncertainties raise the odds of
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