Fidelity Balanced Fund
FBALX
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- Fidelity Balanced Fund (FBALX) is an actively managed open-end mutual fund offered by Fidelity Investments that seeks both income and capital appreciation by investing approximately 60% of assets in stocks and other equity securities and the remainder in investment-grade bonds and other debt securities, including lower-quality high yield debt securities when market outlook warrants; it maintains at least 25% of total assets in fixed-income senior securities across sectors such as technology, communication services, consumer cyclical, and government bonds, with top holdings including NVIDIA Corp, Microsoft Corp, Apple Inc, Alphabet Inc Class A, and Amazon.com Inc. The fund operates within the moderate allocation category, targeting retail and institutional investors seeking balanced exposure to equity and fixed income markets with a blend investment style in large-cap stocks and moderate interest-rate sensitivity in bonds. Launched in 1986 and managed under Fidelity Investments, which was founded in 1946 and is headquartered in Boston, Massachusetts, the fund is part of Fidelity's extensive lineup of mutual funds available primarily to U.S. investors through brokerage platforms and retirement accounts. In recent developments effective November 18, 2025, portfolio managers Matthew Reed and Samuel Wald joined the team to comanage the financials and real estate equity sleeves alongside Pierre Sorel, who transitioned to chief investment officer of Fidelity Asset Management Solutions effective December 29, 2025, while remaining a comanager until February 1, 2026; this change reflects typical sector manager rotation with capable internal successors maintaining the fund's average people and process ratings. For the fiscal year ending August 31, 2025, the fund's Retail Class shares delivered a total return of 11.25%, outperforming its Fidelity Balanced Hybrid Composite benchmark.