Fidelity® Balanced

Pierre Sorel is a sector leader and portfolio manager in the Equity division at Fidelity Investments. Fidelity Investments is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and other financial products and services to institutions, financial intermediaries, and individuals. In this role, Mr. Sorel is responsible for covering the financial sector and is a member of the Stock Selector Large Cap Group. Additionally, he manages the Fidelity Financial Services Central Fund and co-manages Fidelity and Fidelity Advisor Balanced Fund, VIP Balance Portfolio, Fidelity Series All-Sector Equity Fund, FIAM Strategic Advisor Core Research Fund, FIAM U.S. Total Stock Fund, Fidelity Advisor Stock Selector Mid Cap Fund, and Fidelity Advisor Stock Selector All Cap Fund. Mr. Sorel also co-manages the Financials sleeve of the FIAM Global Sector Strategies: FIAM Small/Mid Cap Core, FIAM Large Cap Core, and FIAM Global Core. Prior to assuming his current position with the Stock Selector Large Cap Group in October 2007, Mr. Sorel managed Fidelity Funds Global Financial Services Fund, a financial services sector fund available exclusively to investors outside of the United States. Previously, he worked as an analyst covering the leisure, automobile, and banking industries in Europe at Fidelity International Limited (FIL). Before joining FIL in 1998, Mr. Sorel was a financial services consultant at Oliver Wyman. He has been in the financial industry since 1993. Mr. Sorel earned his bachelor of arts degree in economics and his bachelor of science degree in electrical engineering from Brown University; his master of science degree in computer engineering from Princeton University; and his master of business administration degree from INSEAD. He is also a CFA® charterholder.

Before joining Fidelity in 2003, Mr. Simmons worked as a financial analyst at the private equity firm Hicks, Muse, Tate & Furst. He has been in the investments industry since 1997. Mr. Simmons earned his BA in finance from The University of Texas at Austin, where he graduated with highest honors, and his MBA from Harvard Business School.

Stansky is vice president and portfolio manager, as well a group manager of VIP Contrafund Portfolio and is responsible for assignment of managers to sectors, managing daily cash flows directing risk management and overseeing in the portfolio. He will not select individual securities in the sectors. He joined Fidelity Investments as a research analyst in 1983, and worked as a research assistant from 1984 to 1987. Prior to assuming his current responsibilities, Mr. Stansky managed Fidelity's Magellan Fund from 1996 to 2005. Previously, he managed Fidelity Growth Company Fund, Fidelity Advisor Equity Growth Fund, and Fidelity Growth Strategies, as well as an institutional portfolio for Fidelity. Mr. Stansky also served as an analyst and portfolio assistant on Magellan Fund and as an analyst in Fidelity's Equity research department where he managed the Select Defense & Aerospace Fund. He has been in the financial industry since joining Fidelity in 1983. Mr. Stansky earned his bachelor of science degree in business from Nichols College and his master of business administration degree in finance from New York University.

Kaye is a vice president and portfolio manager with Fidelity Management & Research. Previously, he was head of Fidelity Select Portfolios and assistant director of research. He also served as Fidelity's pharmaceuticals analyst from 1985 to 1990. Before joining the firm, he spent two years as a research analyst with Strategic Planning Associates.

Brian Lempel is a member of FMR's Stock Selector Large Cap Group and co-manager of the fund (information technology sector), which he has managed since January 2014. He also manages other funds. Since joining Fidelity Investments in 2004, Mr. Lempel has worked as a research analyst and portfolio manager.

Mr. Mirshekari has joined Fidelity Investments since 2003 and has worked as a research analyst and portfolio manager. He is also a member of FMR’s Stock Selector Large Cap Group.

Ms. Stafford has worked as a research analyst and portfolio manager since joining Fidelity Investments in 2005.

Jody Simes is a global sector leader/analyst at Fidelity Institutional Asset Management (FIAM). In this role, he manages both the global energy (since 2011) and global materials (since 2006) sector sleeves of the FIAM sector portfolios and analyzes stocks for the broader diversified portfolio management team. He has been in the investments industry since joining Fidelity in 1993. Mr. Simes earned his bachelor of science degree in finance from the University of Massachusetts and his master of science degree in finance from Boston College. He is a CFA charterholder.

Ashley Fernandes is co-manager , which he has managed since January 2020. He also manages other funds. Since joining Fidelity Investments in 2013, Mr. Fernandes has worked as a global energy analyst, research analyst, and portfolio manager.

Sean Gavin is portfolio manager of the fund, which he has managed since April 2017. He also manages other funds. Since joining Fidelity Investments in 2006, Mr. Gavin has worked as a research analyst and portfolio manager.