The Fidelity Large Cap Stock Fund posted a quarterly return of negative 1.90 percent for the first three months of 2026. This result exceeded the negative 4.33 percent decline recorded by the S&P 500 index over the same period.
Energy sector holdings drove much of the outperformance. An overweight position in Exxon Mobil rose 42 percent, while non-benchmark holdings in Imperial Oil gained 52 percent and Shell advanced 28 percent. GE Vernova also contributed after climbing 33 percent on mixed fourth-quarter results and raised revenue guidance for 2026 and 2028.