NPORT-EX 2 QTLY_22_20200930.htm

Quarterly Holdings Report
for

Fidelity® Contrafund®

September 30, 2020







CON-QTLY-1120
1.807733.116





Schedule of Investments September 30, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 18.1%   
Entertainment - 4.2%   
Activision Blizzard, Inc. 12,981,048 $1,050,816 
Electronic Arts, Inc. (a) 1,160,333 151,319 
NetEase, Inc. 4,478,936 80,417 
Netflix, Inc. (a) 7,452,710 3,726,579 
Nexon Co. Ltd. 428,932 10,699 
Nintendo Co. Ltd. 46,200 26,181 
Spotify Technology SA (a) 375,555 91,098 
Take-Two Interactive Software, Inc. (a) 872,784 144,201 
The Walt Disney Co. 1,973,108 244,823 
  5,526,133 
Interactive Media & Services - 13.0%   
Alphabet, Inc.:   
Class A (a) 1,957,389 2,868,749 
Class C (a) 1,831,568 2,691,672 
Facebook, Inc. Class A (a) 42,434,399 11,113,569 
Match Group, Inc. (a)(b) 595,511 65,893 
Pinterest, Inc. Class A (a) 1,186,297 49,243 
Snap, Inc. Class A (a) 5,185,335 135,389 
Tencent Holdings Ltd. 1,030,976 69,636 
Twitter, Inc. (a) 299,479 13,327 
Zillow Group, Inc. Class C (a) 129,675 13,174 
  17,020,652 
Media - 0.2%   
Charter Communications, Inc. Class A (a) 425,878 265,893 
Wireless Telecommunication Services - 0.7%   
T-Mobile U.S., Inc. 7,441,324 850,990 
TOTAL COMMUNICATION SERVICES  23,663,668 
CONSUMER DISCRETIONARY - 13.9%   
Automobiles - 0.0%   
BYD Co. Ltd. (H Shares) 1,847,286 29,790 
Tesla, Inc. (a) 22,592 9,692 
  39,482 
Hotels, Restaurants & Leisure - 0.6%   
Chipotle Mexican Grill, Inc. (a) 301,942 375,528 
Domino's Pizza, Inc. 152,473 64,844 
DraftKings, Inc. Class A (a)(b) 1,399,710 82,359 
Evolution Gaming Group AB (c) 923,765 61,352 
McDonald's Corp. 528,117 115,916 
Penn National Gaming, Inc. (a) 524,887 38,159 
  738,158 
Household Durables - 0.2%   
D.R. Horton, Inc. 1,165,585 88,153 
Garmin Ltd. 711,848 67,526 
Lennar Corp. Class A 1,451,656 118,571 
Sony Corp. 143,110 10,968 
  285,218 
Internet & Direct Marketing Retail - 10.7%   
Alibaba Group Holding Ltd. 10,733,863 394,052 
Alibaba Group Holding Ltd. sponsored ADR (a) 1,882,312 553,362 
Amazon.com, Inc. (a) 3,933,071 12,384,175 
Coupang unit (d)(e) 2,489,211 18,669 
eBay, Inc. 6,714,588 349,830 
JD.com, Inc. Class A 3,310,532 127,473 
Meituan Dianping Class B (a) 3,086,852 97,240 
Pinduoduo, Inc. ADR (a) 572,386 42,442 
  13,967,243 
Leisure Products - 0.0%   
Peloton Interactive, Inc. Class A (a) 556,852 55,262 
Multiline Retail - 0.3%   
B&M European Value Retail SA 8,964,529 57,224 
Dollar General Corp. 1,732,272 363,119 
Target Corp. 75,056 11,815 
  432,158 
Specialty Retail - 1.1%   
Bed Bath & Beyond, Inc. 1,170,247 17,530 
Best Buy Co., Inc. 312,756 34,807 
Carvana Co. Class A (a) 54,506 12,158 
Cazoo Holdings Ltd. (d)(e) 579,926 7,951 
Lowe's Companies, Inc. 441,112 73,163 
O'Reilly Automotive, Inc. (a) 236,724 109,149 
The Home Depot, Inc. 3,497,929 971,410 
TJX Companies, Inc. 1,531,410 85,223 
Vroom, Inc. 1,034,800 53,582 
  1,364,973 
Textiles, Apparel & Luxury Goods - 1.0%   
adidas AG 465,157 150,578 
Allbirds, Inc. (a)(d)(e) 867,565 10,029 
Deckers Outdoor Corp. (a) 459,741 101,148 
Kering SA 16,756 11,151 
lululemon athletica, Inc. (a) 383,894 126,443 
NIKE, Inc. Class B 6,906,377 867,027 
On Holding AG (d)(e) 2,600 28,088 
  1,294,464 
TOTAL CONSUMER DISCRETIONARY  18,176,958 
CONSUMER STAPLES - 2.9%   
Beverages - 0.6%   
Boston Beer Co., Inc. Class A (a) 16,078 14,203 
Constellation Brands, Inc. Class A (sub. vtg.) 60,822 11,526 
Keurig Dr. Pepper, Inc. 806,958 22,272 
Monster Beverage Corp. (a) 1,067,680 85,628 
PepsiCo, Inc. 2,717,038 376,581 
The Coca-Cola Co. 4,770,503 235,520 
  745,730 
Food & Staples Retailing - 1.3%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 1,214,908 42,308 
Costco Wholesale Corp. 3,272,946 1,161,896 
Walmart, Inc. 3,173,311 443,978 
  1,648,182 
Household Products - 0.0%   
Kimberly-Clark Corp. 246,742 36,434 
Personal Products - 1.0%   
Estee Lauder Companies, Inc. Class A 5,640,565 1,231,053 
L'Oreal SA 203,057 66,081 
L'Oreal SA 204,074 66,412 
  1,363,546 
TOTAL CONSUMER STAPLES  3,793,892 
ENERGY - 0.5%   
Oil, Gas & Consumable Fuels - 0.5%   
Continental Resources, Inc. 1,003,134 12,318 
Hess Corp. 917,058 37,535 
Noble Energy, Inc. 2,638,074 22,556 
Reliance Industries Ltd. 17,788,839 541,038 
  613,447 
FINANCIALS - 6.8%   
Banks - 1.0%   
Bank of America Corp. 25,659,117 618,128 
Citigroup, Inc. 938,741 40,469 
JPMorgan Chase & Co. 5,498,086 529,301 
Kotak Mahindra Bank Ltd. (a) 1,993,166 34,512 
M&T Bank Corp. 241,664 22,255 
The Toronto-Dominion Bank 210,941 9,766 
  1,254,431 
Capital Markets - 0.8%   
BlackRock, Inc. Class A 790,605 445,545 
MarketAxess Holdings, Inc. 82,402 39,684 
Moody's Corp. 1,014,403 294,025 
MSCI, Inc. 275,989 98,467 
S&P Global, Inc. 276,747 99,795 
  977,516 
Diversified Financial Services - 4.7%   
Berkshire Hathaway, Inc. Class A (a) 19,277 6,168,659 
Insurance - 0.3%   
Admiral Group PLC 4,552,723 153,386 
Direct Line Insurance Group PLC 3,340,587 11,613 
Fairfax Financial Holdings Ltd. (sub. vtg.) 88,395 26,030 
Intact Financial Corp. 76,140 8,153 
Progressive Corp. 1,956,956 185,265 
  384,447 
Thrifts & Mortgage Finance - 0.0%   
Rocket Cos., Inc. (a)(b) 2,088,650 41,627 
TOTAL FINANCIALS  8,826,680 
HEALTH CARE - 14.2%   
Biotechnology - 3.6%   
23andMe, Inc. (a)(d)(e) 166,622 1,741 
AbbVie, Inc. 5,352,180 468,797 
Acceleron Pharma, Inc. (a) 315,990 35,558 
Allovir, Inc. (a) 328,670 9,038 
Allovir, Inc. 1,281,457 31,716 
Alnylam Pharmaceuticals, Inc. (a) 431,070 62,764 
Amgen, Inc. 151,985 38,629 
Arcus Biosciences, Inc. (a) 563,290 9,655 
Argenx SE ADR (a) 213,957 56,168 
Ascendis Pharma A/S sponsored ADR (a) 83,100 12,824 
BeiGene Ltd. ADR (a) 306,244 87,721 
Biohaven Pharmaceutical Holding Co. Ltd. (a) 168,286 10,940 
Blueprint Medicines Corp. (a) 52,509 4,868 
CSL Ltd. 109,147 22,546 
Denali Therapeutics, Inc. (a) 50,016 1,792 
Exelixis, Inc. (a) 273,668 6,691 
Generation Bio Co. 1,563,476 45,911 
Genmab A/S (a) 118,941 43,082 
Idorsia Ltd. (a) 2,831,357 76,052 
Innovent Biologics, Inc. (a)(c) 14,494,462 108,088 
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(e) 105,983 
Kymera Therapeutics, Inc. (a) 210,136 6,789 
Mirati Therapeutics, Inc. (a) 201,821 33,512 
Morphosys AG (a) 193,516 24,583 
Neurocrine Biosciences, Inc. (a) 189,958 18,266 
Regeneron Pharmaceuticals, Inc. (a) 2,372,215 1,327,919 
Relay Therapeutics, Inc. (a) 524,800 22,351 
Sarepta Therapeutics, Inc. (a) 187,198 26,288 
Seattle Genetics, Inc. (a) 659,303 129,019 
Turning Point Therapeutics, Inc. (a) 482,048 42,112 
Vertex Pharmaceuticals, Inc. (a) 6,639,227 1,806,666 
Zai Lab Ltd. (a) 719,049 59,829 
Zai Lab Ltd. ADR (a) 464,738 38,652 
  4,670,567 
Health Care Equipment & Supplies - 2.9%   
Abbott Laboratories 4,213,121 458,514 
Baxter International, Inc. 1,821,616 146,494 
Danaher Corp. 5,082,953 1,094,512 
DexCom, Inc. (a) 2,277,873 939,008 
Edwards Lifesciences Corp. (a) 4,991,352 398,410 
Hologic, Inc. (a) 1,621,171 107,759 
Intuitive Surgical, Inc. (a) 706,602 501,362 
Masimo Corp. (a) 334,004 78,845 
ResMed, Inc. 141,430 24,245 
Sonova Holding AG Class B 49,723 12,611 
Venus MedTech Hangzhou, Inc. (H Shares) (a)(c) 4,624,270 49,357 
West Pharmaceutical Services, Inc. 88,056 24,207 
  3,835,324 
Health Care Providers & Services - 3.1%   
Guardant Health, Inc. (a) 135,465 15,142 
Humana, Inc. 561,899 232,564 
Patterson Companies, Inc. 1,602,662 38,632 
UnitedHealth Group, Inc. 12,088,769 3,768,916 
  4,055,254 
Health Care Technology - 0.3%   
GoodRx Holdings, Inc. 448,720 24,949 
Veeva Systems, Inc. Class A (a) 1,194,253 335,812 
  360,761 
Life Sciences Tools& Services - 1.5%   
10X Genomics, Inc. (a) 405,676 50,580 
Adaptive Biotechnologies Corp. (a) 353,736 17,202 
Bio-Rad Laboratories, Inc. Class A (a) 348,525 179,651 
Eurofins Scientific SA (a) 83,152 65,846 
Illumina, Inc. (a) 36,936 11,416 
IQVIA Holdings, Inc. (a) 494,809 77,997 
Mettler-Toledo International, Inc. (a) 654,864 632,435 
Thermo Fisher Scientific, Inc. 1,995,301 880,965 
WuXi AppTec Co. Ltd. (H Shares) (c) 4,256,235 61,548 
  1,977,640 
Pharmaceuticals - 2.8%   
AstraZeneca PLC sponsored ADR 14,496,376 794,401 
Bristol-Myers Squibb Co. 6,911,196 416,676 
Eli Lilly & Co. 6,520,164 965,115 
Hansoh Pharmaceutical Group Co. Ltd. (a)(c) 13,229,425 64,661 
Horizon Therapeutics PLC (a) 3,860,980 299,921 
Jazz Pharmaceuticals PLC (a) 725,627 103,467 
Johnson & Johnson 219,276 32,646 
Merck & Co., Inc. 4,632,703 384,283 
MyoKardia, Inc. (a) 197,997 26,993 
Pacira Biosciences, Inc. (a) 73,448 4,416 
Roche Holding AG (participation certificate) 37,471 12,835 
Royalty Pharma PLC 2,006,666 84,420 
UCB SA 682,368 77,604 
Zoetis, Inc. Class A 2,053,914 339,656 
  3,607,094 
TOTAL HEALTH CARE  18,506,640 
INDUSTRIALS - 3.2%   
Aerospace & Defense - 0.5%   
Lockheed Martin Corp. 852,157 326,615 
Northrop Grumman Corp. 953,757 300,901 
Space Exploration Technologies Corp.:   
Class A (a)(d)(e) 295,578 79,806 
Class C (a)(d)(e) 12,991 3,508 
  710,830 
Air Freight & Logistics - 0.4%   
C.H. Robinson Worldwide, Inc. 267,635 27,350 
United Parcel Service, Inc. Class B 2,538,721 423,027 
  450,377 
Building Products - 0.3%   
Fortune Brands Home & Security, Inc. 2,549,730 220,603 
The AZEK Co., Inc. 1,119,807 38,980 
Toto Ltd. 2,355,202 108,526 
Trane Technologies PLC 282,103 34,205 
  402,314 
Commercial Services & Supplies - 0.3%   
Cintas Corp. 753,272 250,712 
Clean TeQ Holdings Ltd. (a)(b)(f) 38,981,249 8,068 
TulCo LLC (a)(d)(e)(g) 140,771 87,485 
  346,265 
Electrical Equipment - 0.4%   
Acuity Brands, Inc. 302,957 31,008 
Vestas Wind Systems A/S 3,223,206 522,827 
  553,835 
Industrial Conglomerates - 0.0%   
General Electric Co. 6,919,808 43,110 
Machinery - 0.3%   
Deere & Co. 424,241 94,025 
Fortive Corp. 2,226,146 169,655 
Illinois Tool Works, Inc. 195,860 37,842 
Otis Worldwide Corp. 212,110 13,240 
PACCAR, Inc. 1,098,810 93,707 
  408,469 
Professional Services - 0.6%   
Clarivate Analytics PLC (a) 9,742,773 301,929 
CoStar Group, Inc. (a) 261,009 221,469 
Equifax, Inc. 71,524 11,222 
Experian PLC 2,986,802 112,227 
FTI Consulting, Inc. (a) 598,067 63,377 
Verisk Analytics, Inc. 94,224 17,461 
  727,685 
Road & Rail - 0.4%   
Canadian Pacific Railway Ltd. 794,083 241,556 
Uber Technologies, Inc. (a) 371,055 13,536 
Union Pacific Corp. 1,389,950 273,639 
  528,731 
Trading Companies & Distributors - 0.0%   
Air Lease Corp. Class A 68,673 2,020 
Fastenal Co. 281,435 12,690 
  14,710 
TOTAL INDUSTRIALS  4,186,326 
INFORMATION TECHNOLOGY - 34.3%   
Electronic Equipment & Components - 1.1%   
Amphenol Corp. Class A 12,165,485 1,317,157 
Samsung SDI Co. Ltd. 149,500 55,575 
Zebra Technologies Corp. Class A (a) 208,426 52,619 
  1,425,351 
IT Services - 9.1%   
Accenture PLC Class A 3,245,384 733,424 
Adyen BV (a)(c) 239,430 441,625 
ASAC II LP (a)(d)(e) 39,494,500 6,635 
EPAM Systems, Inc. (a) 22,983 7,430 
MasterCard, Inc. Class A 6,891,858 2,330,620 
MongoDB, Inc. Class A (a) 1,852,710 428,921 
Okta, Inc. (a) 3,649,446 780,434 
PayPal Holdings, Inc. (a) 10,202,417 2,010,182 
Shopify, Inc. Class A (a) 822,361 840,975 
Snowflake Computing, Inc. (b) 375,547 94,262 
Snowflake Computing, Inc. Class B 88,269 19,940 
Square, Inc. (a) 1,041,576 169,308 
Twilio, Inc. Class A (a) 929,855 229,758 
Visa, Inc. Class A (b) 18,969,268 3,793,285 
  11,886,799 
Semiconductors & Semiconductor Equipment - 4.9%   
Advanced Micro Devices, Inc. (a) 8,766,192 718,740 
Analog Devices, Inc. 688,390 80,363 
ASML Holding NV 319,482 117,975 
Enphase Energy, Inc. (a) 1,869,720 154,420 
KLA-Tencor Corp. 211,430 40,962 
Lam Research Corp. 1,343,954 445,857 
Lattice Semiconductor Corp. (a) 2,363,499 68,447 
Marvell Technology Group Ltd. 2,907,579 115,431 
NVIDIA Corp. 4,084,906 2,210,833 
NXP Semiconductors NV 946,779 118,167 
Qorvo, Inc. (a) 1,031,185 133,033 
Qualcomm, Inc. 13,861,559 1,631,228 
Semtech Corp. (a) 957,321 50,700 
Skyworks Solutions, Inc. 577,839 84,076 
SolarEdge Technologies, Inc. (a) 342,927 81,737 
Synaptics, Inc. (a)(f) 2,120,308 170,515 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 1,212,611 98,306 
Texas Instruments, Inc. 307,488 43,906 
  6,364,696 
Software - 16.1%   
Adobe, Inc. (a) 8,995,416 4,411,622 
Agora, Inc. ADR (a)(b) 174,705 7,509 
ANSYS, Inc. (a) 40,014 13,094 
Atlassian Corp. PLC (a) 2,551,245 463,791 
Cadence Design Systems, Inc. (a) 426,759 45,505 
Ceridian HCM Holding, Inc. (a) 689,081 56,953 
Cloudflare, Inc. (a) 7,112,943 292,057 
Coupa Software, Inc. (a) 1,366,896 374,858 
Crowdstrike Holdings, Inc. (a) 323,446 44,416 
Datadog, Inc. Class A (a) 1,298,586 132,664 
Dropbox, Inc. Class A (a) 4,600,467 88,605 
Duck Creek Technologies, Inc. (a)(b) 138,200 6,278 
Dynatrace, Inc. (a) 3,919,997 160,798 
Epic Games, Inc. (d)(e) 123,700 71,128 
Everbridge, Inc. (a) 268,589 33,770 
Fortinet, Inc. (a) 809,515 95,369 
Intuit, Inc. 1,211,249 395,122 
JFrog Ltd. (b) 172,400 14,594 
Microsoft Corp. 35,607,335 7,489,291 
Netcompany Group A/S (a)(c) 34,970 2,900 
RingCentral, Inc. (a) 247,767 68,039 
Salesforce.com, Inc. (a) 23,343,053 5,866,576 
ServiceNow, Inc. (a) 842,770 408,743 
Slack Technologies, Inc. Class A (a)(b) 4,291,372 115,266 
SurveyMonkey (a) 1,219,563 26,965 
Tanium, Inc. Class B (a)(d)(e) 6,742,751 76,835 
Unity Software, Inc. 391,619 34,181 
Workday, Inc. Class A (a) 816,909 175,742 
Xero Ltd. (a) 418,882 30,555 
Zoom Video Communications, Inc. Class A (a) 86,765 40,789 
  21,044,015 
Technology Hardware, Storage & Peripherals - 3.1%   
Apple, Inc. 34,157,734 3,955,807 
Dell Technologies, Inc. (a) 263,146 17,812 
Samsung Electronics Co. Ltd. 1,906,800 95,166 
  4,068,785 
TOTAL INFORMATION TECHNOLOGY  44,789,646 
MATERIALS - 2.7%   
Chemicals - 0.7%   
Air Products & Chemicals, Inc. 754,694 224,793 
Growmax Resources Corp. (a)(c)(e) 3,015,450 125 
Sherwin-Williams Co. 1,005,371 700,482 
Westlake Chemical Corp. 193,276 12,219 
  937,619 
Containers & Packaging - 0.1%   
Silgan Holdings, Inc. 1,051,287 38,656 
WestRock Co. 329,585 11,450 
  50,106 
Metals & Mining - 1.9%   
Agnico Eagle Mines Ltd. (Canada) 959,253 76,428 
B2Gold Corp. 47,621,015 310,070 
Barrick Gold Corp. 1,851,009 52,032 
Barrick Gold Corp. (Canada) 24,349,364 683,914 
Franco-Nevada Corp. 4,377,044 611,646 
Freeport-McMoRan, Inc. 8,705,362 136,152 
Ivanhoe Mines Ltd. (a) 44,791,741 162,812 
Ivanhoe Mines Ltd. (a)(c) 12,903,860 46,904 
Lundin Gold, Inc. (a) 2,314,262 21,030 
Newmont Corp. 4,833,827 306,706 
Northern Star Resources Ltd. 1,330,057 13,180 
Novagold Resources, Inc. (a) 7,162,746 85,315 
  2,506,189 
TOTAL MATERIALS  3,493,914 
REAL ESTATE - 0.6%   
Equity Real Estate Investment Trusts (REITs) - 0.6%   
Alexandria Real Estate Equities, Inc. 635,772 101,724 
American Tower Corp. 2,243,586 542,342 
Equity Commonwealth 1,733,128 46,153 
Prologis (REIT), Inc. 1,227,571 123,518 
  813,737 
Real Estate Management & Development - 0.0%   
FirstService Corp. 53,681 7,080 
WeWork Companies, Inc. Class A (a)(d)(e) 53,694 381 
  7,461 
TOTAL REAL ESTATE  821,198 
UTILITIES - 0.2%   
Electric Utilities - 0.2%   
Iberdrola SA 988,704 12,183 
NextEra Energy, Inc. 174,292 48,376 
PG&E Corp. (a) 18,772,868 176,277 
  236,836 
TOTAL COMMON STOCKS   
(Cost $44,749,853)  127,109,205 
Preferred Stocks - 0.8%   
Convertible Preferred Stocks - 0.8%   
CONSUMER DISCRETIONARY - 0.2%   
Diversified Consumer Services - 0.1%   
Airbnb, Inc.:   
Series D (a)(d)(e) 578,817 52,695 
Series E (a)(d)(e) 388,853 35,401 
  88,096 
Internet & Direct Marketing Retail - 0.0%   
Doordash, Inc. Series H (d)(e) 192,670 44,224 
Specialty Retail - 0.1%   
Aurora Innovation, Inc. Series B (a)(d)(e) 2,121,140 19,600 
Fanatics, Inc. Series E (d)(e) 1,673,822 28,940 
  48,540 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (a)(d)(e) 342,405 3,958 
Series B (a)(d)(e) 60,155 695 
Series C (a)(d)(e) 574,905 6,646 
Series Seed (a)(d)(e) 183,970 2,127 
  13,426 
TOTAL CONSUMER DISCRETIONARY  194,286 
CONSUMER STAPLES - 0.0%   
Food & Staples Retailing - 0.0%   
Roofoods Ltd. Series F (a)(d)(e) 154,611 52,359 
HEALTH CARE - 0.1%   
Biotechnology - 0.1%   
23andMe, Inc.:   
Series E (a)(d)(e) 664,987 6,949 
Series F (a)(d)(e) 3,348,986 34,997 
Intarcia Therapeutics, Inc. Series CC (a)(d)(e) 2,100,446 
Nuvation Bio, Inc. Series A (a)(d)(e)(h) 35,794,400 33,647 
  75,593 
Health Care Providers & Services - 0.0%   
Get Heal, Inc. Series B (a)(d)(e) 35,877,127 1,032 
Mulberry Health, Inc.:   
Series A-8 (a)(d)(e) 7,960,894 36,210 
Series A-9 (a)(d)(e) 600,009 2,737 
Series AA-9 (a)(d)(e) 49,783 225 
  40,204 
TOTAL HEALTH CARE  115,797 
INDUSTRIALS - 0.3%   
Aerospace & Defense - 0.3%   
Space Exploration Technologies Corp.:   
Series G (a)(d)(e) 558,215 150,718 
Series H (a)(d)(e) 120,282 32,476 
Series N (d)(e) 428,458 115,684 
  298,878 
Commercial Services & Supplies - 0.0%   
ZenPayroll, Inc. Series D (a)(d)(e) 2,436,137 32,431 
TOTAL INDUSTRIALS  331,309 
INFORMATION TECHNOLOGY - 0.1%   
Software - 0.1%   
Affirm, Inc.:   
Series F (a)(d)(e) 2,371,275 47,251 
Series G (d)(e) 2,344,983 46,727 
Series G1 (d)(e) 431,811 8,604 
Carbon, Inc.:   
Series D (a)(d)(e) 915,425 27,939 
Series E (a)(d)(e) 81,735 2,526 
Delphix Corp. Series D (a)(d)(e) 3,712,687 18,860 
  151,907 
MATERIALS - 0.1%   
Metals & Mining - 0.1%   
High Power Exploration, Inc. Series A (d)(e) 12,577,747 78,359 
REAL ESTATE - 0.0%   
Real Estate Management & Development - 0.0%   
WeWork Companies, Inc.:   
Series E (a)(d)(e) 5,464,465 38,743 
Series F (a)(d)(e) 253,732 1,799 
  40,542 
TOTAL CONVERTIBLE PREFERRED STOCKS  964,559 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Specialty Retail - 0.0%   
Cazoo Holdings Ltd.:   
Series A (d)(e) 18,932 260 
Series B (d)(e) 331,469 4,544 
Series C (d)(e) 6,729 92 
Series D (d)(e) 1,184,131 16,234 
  21,130 
CONSUMER STAPLES - 0.0%   
Food & Staples Retailing - 0.0%   
Roofoods Ltd. Series G (a)(e) 46,145 15,627 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  36,757 
TOTAL PREFERRED STOCKS   
(Cost $1,048,118)  1,001,316 
 Principal Amount (000s) Value (000s) 
Preferred Securities - 0.0%   
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
Intarcia Therapeutics, Inc. 6% 7/18/21
(Cost $9,273)(d)(e) 
9,273 11,796 
 Shares Value (000s) 
Money Market Funds - 2.3%   
Fidelity Cash Central Fund 0.10% (i) 2,552,814,018 2,553,325 
Fidelity Securities Lending Cash Central Fund 0.10% (i)(j) 431,242,498 431,286 
TOTAL MONEY MARKET FUNDS   
(Cost $2,984,609)  2,984,611 
TOTAL INVESTMENT IN SECURITIES - 100.5%   
(Cost $48,791,853)  131,106,928 
NET OTHER ASSETS (LIABILITIES) - (0.5)%  (660,000) 
NET ASSETS - 100%  $130,446,928 

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $836,560,000 or 0.6% of net assets.

 (d) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $1,389,741,000 or 1.1% of net assets.

 (e) Level 3 security

 (f) Affiliated company

 (g) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (h) Security or a portion of the security purchased on a delayed delivery or when-issued basis.

 (i) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

 (j) Investment made with cash collateral received from securities on loan.

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
23andMe, Inc. 12/7/18 $2,799 
23andMe, Inc. Series E 6/18/15 $7,200 
23andMe, Inc. Series F 8/31/17 $46,498 
Affirm, Inc. Series F 3/22/19 $31,261 
Affirm, Inc. Series G 9/11/20 $46,727 
Affirm, Inc. Series G1 4/29/20 $7,287 
Airbnb, Inc. Series D 4/16/14 $23,565 
Airbnb, Inc. Series E 6/29/15 $36,200 
Allbirds, Inc. 10/9/18 $9,515 
Allbirds, Inc. Series A 10/9/18 $3,755 
Allbirds, Inc. Series B 10/9/18 $660 
Allbirds, Inc. Series C 10/9/18 $6,305 
Allbirds, Inc. Series Seed 10/9/18 $2,018 
ASAC II LP 10/10/13 $3,041 
Aurora Innovation, Inc. Series B 3/1/19 $19,600 
Carbon, Inc. Series D 12/15/17 $21,376 
Carbon, Inc. Series E 3/22/19 $2,288 
Cazoo Holdings Ltd. 9/30/20 $7,951 
Cazoo Holdings Ltd. Series A 9/30/20 $260 
Cazoo Holdings Ltd. Series B 9/30/20 $4,544 
Cazoo Holdings Ltd. Series C 9/30/20 $92 
Cazoo Holdings Ltd. Series D 9/30/20 $16,234 
Coupang unit 6/12/20 $18,669 
Delphix Corp. Series D 7/10/15 $33,414 
Doordash, Inc. Series H 6/17/20 $44,224 
Epic Games, Inc. 7/13/20 - 7/30/20 $71,128 
Fanatics, Inc. Series E 8/13/20 $28,940 
Get Heal, Inc. Series B 11/7/16 $10,944 
High Power Exploration, Inc. Series A 11/15/19 $66,285 
Intarcia Therapeutics, Inc. Series CC 11/14/12 $28,629 
Intarcia Therapeutics, Inc. 6% 7/18/21 1/3/20 $9,273 
Mulberry Health, Inc. Series A-8 1/20/16 $53,774 
Mulberry Health, Inc. Series A-9 3/23/18 $4,281 
Mulberry Health, Inc. Series AA-9 3/23/18 $145 
Nuvation Bio, Inc. Series A 6/17/19 $27,612 
On Holding AG 2/6/20 $23,693 
Roofoods Ltd. Series F 9/12/17 $54,666 
Space Exploration Technologies Corp. Class A 10/16/15 - 9/11/17 $30,689 
Space Exploration Technologies Corp. Class C 9/11/17 $1,754 
Space Exploration Technologies Corp. Series G 1/20/15 $43,239 
Space Exploration Technologies Corp. Series H 8/4/17 $16,238 
Space Exploration Technologies Corp. Series N 8/4/20 $115,684 
Tanium, Inc. Class B 4/21/17 - 9/18/20 $57,901 
TulCo LLC 8/24/17 - 9/7/18 $49,385 
WeWork Companies, Inc. Class A 6/23/15 $1,766 
WeWork Companies, Inc. Series E 6/23/15 $179,724 
WeWork Companies, Inc. Series F 12/1/16 $12,735 
ZenPayroll, Inc. Series D 7/16/19 $32,431 

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
 (Amounts in thousands) 
Fidelity Cash Central Fund $2,731 
Fidelity Securities Lending Cash Central Fund 159 
Total $2,890 

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Other Affiliated Issuers

An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:

Affiliate (Amounts in thousands) Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Amphenol Corp. Class A $2,118,854 $11,978 $667,878 $10,878 $314,792 $(460,589) $-- 
Birchcliff Energy Ltd. 39,679 -- 12,323 261 (94,060) 66,704 -- 
Birchcliff Energy Ltd. 1,369 -- 924 261 (4,343) 3,898 -- 
Centennial Resource Development, Inc. Class A 92,428 -- 7,708 -- (311,413) 226,693 -- 
Clean TeQ Holdings Ltd. 5,734 -- 131 -- (657) 3,122 8,068 
Synaptics, Inc. 31,550 111,994 3,147 -- 861 29,257 170,515 
Total $2,289,614 $123,972 $692,111 $11,400 $(94,820) $(130,915) $178,583 

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security’s underlying assets and liabilities. 

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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