Fidelity Blue Chip Growth Fund: Latest Performance, Holdings, Fees and What Investors Should Know

The Fidelity Blue Chip Growth Fund (FBGRX) remains one of Fidelity’s best-known actively managed large-cap growth mutual funds, with a portfolio centered on established companies that Fidelity believes can deliver above-average growth over the long term.

As of the latest available information in September 2026, the fund continues to have heavy exposure to technology and other growth-oriented businesses, including major positions in Nvidia, Apple, Alphabet, Amazon and Microsoft. Its recent performance has remained strong over longer periods, although the fund has also experienced meaningful short-term volatility.

What Is the Fidelity Blue Chip Growth Fund?

The Fidelity Blue Chip Growth Fund, ticker FBGRX, is an actively managed mutual fund designed to seek long-term growth of capital. Fidelity says the fund normally invests at least 80% of its assets in blue-chip growth companies.

For this strategy, Fidelity generally defines blue-chip companies as well-known, well-established and well-capitalized businesses. The fund primarily invests in common stocks and can hold both U.S. and foreign companies.

Unlike an index fund, FBGRX’s portfolio is selected by Fidelity’s investment team using fundamental analysis. The manager and research team evaluate factors such as a company’s financial condition, industry position, growth prospects and broader market and economic conditions.

The fund dates back to December 31, 1987, giving it a substantially longer operating history than many newer growth funds.

Fidelity Blue Chip Growth Fund Latest Update

The latest available Fidelity data shows that FBGRX had a $289.48 NAV at the September 11, 2026, close, according to Fidelity’s institutional daily pricing data. That represented a one-day decline of $17.85, or 5.81%, from the previous available NAV.

The fund’s reported year-to-date return was approximately 16.07% in the same Fidelity pricing data.

Investors should be careful when comparing daily NAV changes with total-return figures. Mutual fund NAVs can change because of portfolio-market movements and distributions, so a sharp one-day NAV adjustment does not necessarily mean shareholders experienced an identical percentage loss in total wealth.

Fidelity’s regular fund page also reported strong longer-term results through August 31, 2026. The fund’s average annual returns were 26.00% over one year, 27.98% over three years, 13.65% over five years and 21.10% over 10 years.

Past performance does not guarantee future results.

Fidelity Blue Chip Growth Fund Performance

FBGRX has delivered particularly strong results over the longer term compared with its primary benchmark, the Russell 1000 Growth Index.

According to Fidelity’s data as of August 31, 2026:

Period: 1 year
FBGRX: 26.00%
Russell 1000 Growth Index: 10.82%

Period: 3 years, annualized
FBGRX: 27.98%
Russell 1000 Growth Index: 21.10%

Period: 5 years, annualized
FBGRX: 13.65%
Russell 1000 Growth Index: 11.88%

Period: 10 years, annualized
FBGRX: 21.10%
Russell 1000 Growth Index: 17.95%

The figures demonstrate why FBGRX has remained popular among investors seeking active exposure to large-cap growth stocks. However, the fund’s historical results should be considered alongside its risk profile and concentration in growth-oriented sectors.

Fidelity’s June 30, 2026 quarterly review also showed how quickly the fund can move during strong growth-market periods. Retail Class shares gained 26.39% during the second quarter of 2026, compared with a 16.74% gain for the Russell 1000 Growth Index.

FBGRX Top Holdings

The portfolio is concentrated in many of the largest technology and growth companies in the U.S. The latest detailed holdings data available from Fidelity, dated July 31, 2026, showed the following top positions:

Nvidia: 14.73%

Apple: 9.28%

Alphabet Class A: 9.25%

Amazon: 5.81%

Microsoft: 4.99%

Broadcom: 4.37%

Space Exploration Technologies: 2.79%

Eli Lilly: 2.69%

Meta Platforms: 2.30%

Micron Technology: 1.95%

The top 10 holdings represented about 58.16% of the portfolio at that reporting date.

Nvidia was by far the largest position, accounting for nearly 15% of assets. That makes the fund’s performance particularly sensitive to developments affecting artificial intelligence infrastructure, semiconductors and other areas tied to Nvidia’s business.

The holdings can change, so investors should check Fidelity’s latest portfolio disclosure before making decisions based on individual positions.

Technology Is the Fund’s Largest Sector Exposure

Information technology was the fund’s largest sector allocation at 53.21% as of July 31, 2026.

That allocation helps explain both the fund’s long-term growth potential and its volatility. Technology companies can benefit significantly from trends such as artificial intelligence, cloud computing, semiconductor demand and digital services. At the same time, technology and growth stocks can fall sharply when valuations, interest rates, earnings expectations or investor sentiment move against them.

The fund was also heavily concentrated in the United States. Fidelity reported about 95.08% of the portfolio in U.S. securities at the July 31 reporting date.

Who Manages Fidelity Blue Chip Growth Fund?

Sonu Kalra is the primary portfolio manager of Fidelity Blue Chip Growth Fund. Fidelity lists his manager tenure for the strategy as beginning July 1, 2009.

Kalra’s long tenure is an important part of the fund’s investment story because the strategy has experienced several different market environments under his leadership, including major technology rallies, the 2022 growth-stock downturn and the subsequent recovery.

The fund’s approach remains focused on companies with attractive long-term growth opportunities rather than simply attempting to mirror the benchmark.

Fidelity Blue Chip Growth Fund Expense Ratio

FBGRX currently has a 0.61% gross and net expense ratio, based on Fidelity’s September 29, 2025 expense information.

That means an investor with $10,000 in the fund would pay approximately $61 per year in fund expenses at the stated expense ratio, assuming the investment remained at $10,000 throughout the year. Actual dollar expenses vary with the account balance and fund expenses.

The fund has no transaction fee through Fidelity according to the fund’s current Fidelity listing, and the minimum investment shown by Fidelity is $0.

Investors should still review the applicable prospectus and account-specific terms before investing.

Is Fidelity Blue Chip Growth Fund a Good Investment?

Whether FBGRX is a good investment depends on an investor’s objectives, time horizon, risk tolerance and existing portfolio.

The fund has several characteristics that may appeal to long-term growth investors:

Strong historical long-term performance.

Experienced portfolio management.

Significant exposure to leading U.S. growth companies.

A long operating history dating back to 1987.

Active stock selection rather than simply tracking an index.

No stated minimum investment on Fidelity’s current fund page.

However, there are important risks:

Heavy exposure to technology and growth stocks.

Significant concentration in a relatively small group of large companies.

Potentially high volatility during market corrections.

Exposure to valuation risk when high-growth stocks become expensive.

Active-management risk, meaning future results may differ substantially from historical performance.

Foreign and geopolitical risks from the fund’s international holdings.

Fidelity itself warns that equity securities can fluctuate substantially and that growth stocks can behave differently from value stocks.

FBGRX vs. the Russell 1000 Growth Index

The Russell 1000 Growth Index is the fund’s primary benchmark. It measures the performance of large U.S. companies with growth characteristics.

FBGRX has outperformed the index over several long-term periods based on Fidelity’s August 31, 2026 data. Its 10-year annualized return was 21.10%, compared with 17.95% for the Russell 1000 Growth Index.

That historical advantage is notable, but it should not be interpreted as a guarantee that the fund will continue to outperform.

One major difference is that FBGRX is actively managed. Its manager can make significant portfolio decisions and hold positions that differ from the benchmark. This can create opportunities for outperformance, but it can also cause the fund to lag when its investment choices are out of favor.

Why Nvidia Matters So Much to FBGRX

Nvidia’s position is particularly important for anyone following Fidelity Blue Chip Growth Fund.

With Nvidia representing 14.73% of the portfolio in Fidelity’s July 31, 2026 holdings report, the company’s performance can have a meaningful impact on FBGRX.

Nvidia has been one of the most important beneficiaries of the artificial-intelligence investment cycle, particularly through demand for advanced computing infrastructure. The same exposure that helped support growth-oriented returns can also increase risk if AI spending slows, valuations contract or semiconductor demand weakens.

The fund’s exposure to Apple, Alphabet, Amazon, Microsoft, Broadcom and other large technology companies creates additional sensitivity to the broader outlook for artificial intelligence and the technology sector.

What Investors Should Watch Next

Several factors could influence Fidelity Blue Chip Growth Fund’s performance going forward.

Artificial intelligence spending: Continued investment in AI infrastructure could support several of the fund’s largest holdings. A slowdown could have the opposite effect.

Interest rates: Growth stocks are often sensitive to interest-rate expectations because their valuations depend heavily on future earnings growth.

Corporate earnings: Strong earnings and revenue growth among large technology companies could support the fund, while disappointing guidance could increase volatility.

Market concentration: Because a large percentage of the portfolio is invested in its biggest positions, major moves in those companies can have an outsized effect on the fund.

Economic and geopolitical conditions: Fidelity notes that political, market and economic developments can affect equity securities, while foreign holdings introduce additional currency and geopolitical considerations.

Fidelity Blue Chip Growth Fund: Bottom Line

The Fidelity Blue Chip Growth Fund (FBGRX) remains a major actively managed large-cap growth fund, with a portfolio built around established companies that Fidelity believes have strong long-term growth prospects.

Its latest figures show a fund that has continued to produce strong long-term returns, while its heavy technology exposure and concentration in companies such as Nvidia, Apple and Alphabet also create meaningful risk. The fund’s 0.61% expense ratio, experienced manager and long performance history may appeal to investors seeking active growth exposure, but it is not a low-volatility or conservative investment.

For anyone considering FBGRX, the most important point is to evaluate it as part of a broader portfolio rather than judging it solely by its recent return or current NAV. Fund performance, holdings, expenses and market conditions can change, so investors should review Fidelity’s latest disclosures and prospectus before making an investment decision.

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