If you’re searching for a mutual fund that delivers strong long-term returns without the rollercoaster ride of high-volatility stocks, then Fidelity Contrafund (FCNTX) is still one of the best in the business.
For over three decades, it’s helped investors build wealth by leaning into quality growth and staying ahead of the market curve.
Whether you’re a beginner or a seasoned investor, here’s everything you need to know, from its performance track record to the investment strategy that keeps it in the spotlight.
Performance at a Glance
YTD (2025): +14.5%
3-Year Average: +12.7%
10-Year Average: +15.8%
Expense Ratio: 0.39%
Assets Under Management: Over $100 billion
Category: Large Growth
Fidelity Contrafund continues to beat the S&P 500 over long timeframes, not just by chasing hot stocks, but by investing in fundamentally sound businesses with real staying power.
This Fund is Tech-Forward, Not Tech-Crazy
Here’s a look at some of its current heavyweight holdings as of Q1 2025:
| Stock | Sector | Portfolio weight |
| Microsoft (MSFT) | Tech (Cloud/AI) | 9.6% |
| Meta Platforms (META) | Tech (Social/AR) | 8.2% |
| Amazon (AMZN) | Consumer Discretionary | 7.9% |
| Berkshire Hathaway (BRK.B) | Financials | 6.5% |
| Apple (AAPL) | Tech (Consumer Devices) | 6.2% |
These companies aren’t just big, they’re dominant. Contrafund looks for category leaders with strong balance sheets and explosive growth potential, especially in sectors like AI, cloud computing, and fintech.
Growth with Guardrails
The fund’s manager, Will Danoff, has been running the show since 1990, and his track record is legendary. His approach is simple but powerful:
“Invest in high-quality companies with durable growth, and don’t overpay to own them.”
This can play out as:
Deep research. The team conducts rigorous fundamental analysis, earnings, cash flow, competitive moat, and management.
Contrarian edge. True to its name, Contrafund often takes positions in great companies that are temporarily out of favor.
Active, not impulsive. Turnover is low. When they find winners, they let them run.
This is not a fund that tries to beat the market with hype or flashy picks. Instead, it aims for steady, compounding growth, the kind that builds generational wealth.
If you’re a long-term investor who wants exposure to high-growth names without putting everything on the line, this fund is worth serious consideration.
It offers a well-managed, disciplined strategy that focuses on durable companies with wide moats and real earnings power.
Whether you’re building a retirement portfolio or just starting to invest more seriously, Fidelity Contrafund remains a blue-chip mutual fund that can anchor your strategy, especially if you’re bullish on big tech and structural growth.
