NPORT-EX 2 QTLY_2459_20200930.htm

Quarterly Holdings Report
for

Fidelity® Series Opportunistic Insights Fund

September 30, 2020







O1T-QTLY-1120
1.951057.107





Schedule of Investments September 30, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.8%   
 Shares Value 
COMMUNICATION SERVICES - 17.2%   
Entertainment - 3.2%   
Activision Blizzard, Inc. 158,470 $12,828,147 
Electronic Arts, Inc. (a) 60,600 7,902,846 
NetEase, Inc. 254,900 4,576,593 
Netflix, Inc. (a) 373,109 186,565,693 
Nexon Co. Ltd. 28,300 705,909 
Nintendo Co. Ltd. 2,800 1,586,736 
Spotify Technology SA (a) 24,682 5,987,113 
Take-Two Interactive Software, Inc. (a) 47,400 7,831,428 
The Walt Disney Co. 108,672 13,484,022 
  241,468,487 
Interactive Media & Services - 13.0%   
Alphabet, Inc.:   
Class A (a) 80,417 117,859,155 
Class C (a) 85,910 126,253,336 
Facebook, Inc. Class A (a) 2,734,054 716,048,734 
Match Group, Inc. (a) 35,332 3,909,486 
Pinterest, Inc. Class A (a) 50,296 2,087,787 
Snap, Inc. Class A (a) 302,400 7,895,664 
Tencent Holdings Ltd. 60,600 4,093,129 
Twitter, Inc. (a) 17,500 778,750 
Zillow Group, Inc. Class C (a)(b) 7,600 772,084 
  979,698,125 
Media - 0.2%   
Charter Communications, Inc. Class A (a) 26,097 16,293,401 
Wireless Telecommunication Services - 0.8%   
T-Mobile U.S., Inc. 496,837 56,818,279 
TOTAL COMMUNICATION SERVICES  1,294,278,292 
CONSUMER DISCRETIONARY - 13.4%   
Automobiles - 0.0%   
BYD Co. Ltd. (H Shares) 108,000 1,741,632 
Tesla, Inc. (a) 400 171,604 
  1,913,236 
Hotels, Restaurants & Leisure - 0.9%   
Chipotle Mexican Grill, Inc. (a) 23,654 29,418,716 
Domino's Pizza, Inc. 8,100 3,444,768 
DraftKings, Inc. Class A (a)(b) 80,800 4,754,272 
Evolution Gaming Group AB (c) 74,225 4,929,630 
McDonald's Corp. 99,972 21,942,854 
Penn National Gaming, Inc. (a) 30,700 2,231,890 
  66,722,130 
Household Durables - 0.2%   
Blu Investments LLC (d)(e) 21,093,998 6,539 
D.R. Horton, Inc. 72,500 5,483,175 
Garmin Ltd. 43,899 4,164,259 
Lennar Corp. Class A 87,600 7,155,168 
Sony Corp. 9,100 697,443 
  17,506,584 
Internet & Direct Marketing Retail - 9.9%   
Alibaba Group Holding Ltd. 650,000 23,862,228 
Alibaba Group Holding Ltd. sponsored ADR (a) 104,420 30,697,392 
Amazon.com, Inc. (a) 206,877 651,399,816 
Delivery Hero AG (a)(c) 4,666 536,780 
eBay, Inc. 368,000 19,172,800 
JD.com, Inc. Class A 190,900 7,350,646 
Meituan Dianping Class B (a) 219,820 6,924,617 
Pinduoduo, Inc. ADR (a) 26,800 1,987,220 
  741,931,499 
Leisure Products - 0.0%   
Peloton Interactive, Inc. Class A (a) 31,400 3,116,136 
Multiline Retail - 0.3%   
B&M European Value Retail SA 517,200 3,301,475 
Dollar General Corp. 100,800 21,129,696 
Target Corp. 5,000 787,100 
  25,218,271 
Specialty Retail - 1.1%   
Bed Bath & Beyond, Inc. 71,000 1,063,580 
Best Buy Co., Inc. 19,400 2,159,026 
Carvana Co. Class A (a) 3,500 780,710 
Cazoo Holdings Ltd. (d)(e) 33,832 463,836 
Lowe's Companies, Inc. 27,600 4,577,736 
O'Reilly Automotive, Inc. (a) 14,600 6,731,768 
The Home Depot, Inc. 225,255 62,555,566 
Vroom, Inc. (b) 60,200 3,117,156 
  81,449,378 
Textiles, Apparel & Luxury Goods - 1.0%   
adidas AG 57,090 18,480,801 
China Hongxing Sports Ltd. (a)(e) 22,200 922 
Deckers Outdoor Corp. (a) 29,984 6,596,780 
Kering SA 971 646,184 
lululemon athletica, Inc. (a) 26,034 8,574,819 
NIKE, Inc. Class B 292,643 36,738,402 
  71,037,908 
TOTAL CONSUMER DISCRETIONARY  1,008,895,142 
CONSUMER STAPLES - 2.9%   
Beverages - 0.6%   
Boston Beer Co., Inc. Class A (a) 1,500 1,325,040 
Constellation Brands, Inc. Class A (sub. vtg.) 4,300 814,893 
Keurig Dr. Pepper, Inc. 79,689 2,199,416 
Monster Beverage Corp. (a) 63,200 5,068,640 
PepsiCo, Inc. 167,600 23,229,360 
The Coca-Cola Co. 197,850 9,767,855 
  42,405,204 
Food & Staples Retailing - 1.4%   
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 88,936 3,097,114 
Costco Wholesale Corp. 210,437 74,705,135 
Walmart, Inc. 168,400 23,560,844 
  101,363,093 
Household Products - 0.0%   
Kimberly-Clark Corp. 16,000 2,362,560 
Personal Products - 0.9%   
Estee Lauder Companies, Inc. Class A 277,052 60,466,599 
L'Oreal SA 12,803 4,166,469 
L'Oreal SA 13,125 4,271,257 
  68,904,325 
TOTAL CONSUMER STAPLES  215,035,182 
ENERGY - 0.5%   
Oil, Gas & Consumable Fuels - 0.5%   
Continental Resources, Inc. 59,128 726,092 
Hess Corp. 52,168 2,135,236 
Noble Energy, Inc. 161,400 1,379,970 
Reliance Industries Ltd. 984,125 29,931,651 
Tamarack Valley Energy Ltd. (a) 1,313,749 710,375 
  34,883,324 
FINANCIALS - 7.2%   
Banks - 1.7%   
Bank of America Corp. 3,419,462 82,374,840 
JPMorgan Chase & Co. 385,824 37,143,276 
Kotak Mahindra Bank Ltd. (a) 257,187 4,453,247 
M&T Bank Corp. 15,100 1,390,559 
The Toronto-Dominion Bank 12,600 583,373 
  125,945,295 
Capital Markets - 0.7%   
BlackRock, Inc. Class A 45,100 25,416,105 
MarketAxess Holdings, Inc. 4,900 2,359,791 
Moody's Corp. 58,710 17,017,094 
MSCI, Inc. 14,911 5,319,947 
S&P Global, Inc. 16,200 5,841,720 
  55,954,657 
Diversified Financial Services - 4.4%   
Berkshire Hathaway, Inc. Class A (a) 1,022 327,041,022 
Insurance - 0.4%   
Admiral Group PLC 326,974 11,016,094 
Direct Line Insurance Group PLC 194,700 676,817 
Fairfax Financial Holdings Ltd. (sub. vtg.) 10,500 3,091,923 
Intact Financial Corp. 4,400 471,144 
Progressive Corp. 115,200 10,905,984 
  26,161,962 
Thrifts & Mortgage Finance - 0.0%   
Rocket Cos., Inc. (a)(b) 115,700 2,305,901 
TOTAL FINANCIALS  537,408,837 
HEALTH CARE - 12.5%   
Biotechnology - 3.1%   
23andMe, Inc. (a)(d)(e) 9,536 99,651 
AbbVie, Inc. 319,329 27,970,027 
Acceleron Pharma, Inc. (a) 20,622 2,320,594 
Allovir, Inc. (a) 16,900 464,750 
Alnylam Pharmaceuticals, Inc. (a) 24,400 3,552,640 
Amgen, Inc. 9,100 2,312,856 
Arcus Biosciences, Inc. (a) 32,200 551,908 
Argenx SE ADR (a) 12,834 3,369,182 
Ascendis Pharma A/S sponsored ADR (a) 4,800 740,736 
BeiGene Ltd. ADR (a) 14,500 4,153,380 
Biohaven Pharmaceutical Holding Co. Ltd. (a) 9,900 643,599 
Blueprint Medicines Corp. (a) 3,300 305,910 
CSL Ltd. 1,900 392,477 
Denali Therapeutics, Inc. (a) 4,300 154,069 
Exelixis, Inc. (a) 16,629 406,579 
Genmab A/S (a) 7,400 2,680,357 
Idorsia Ltd. (a) 186,287 5,003,790 
Innovent Biologics, Inc. (a)(c) 694,324 5,177,710 
Kymera Therapeutics, Inc. (a) 12,100 390,951 
Mirati Therapeutics, Inc. (a) 13,200 2,191,860 
Morphosys AG (a) 12,499 1,587,810 
Neurocrine Biosciences, Inc. (a) 10,100 971,216 
Regeneron Pharmaceuticals, Inc. (a) 97,781 54,735,848 
Relay Therapeutics, Inc. (a) 30,100 1,281,959 
Sarepta Therapeutics, Inc. (a) 15,800 2,218,794 
Seattle Genetics, Inc. (a) 40,100 7,847,169 
Turning Point Therapeutics, Inc.(a) 33,637 2,938,528 
Vertex Pharmaceuticals, Inc. (a) 333,568 90,770,524 
Zai Lab Ltd. (a) 42,000 3,494,627 
Zai Lab Ltd. ADR (a) 27,690 2,302,977 
  231,032,478 
Health Care Equipment & Supplies - 3.2%   
Abbott Laboratories 167,713 18,252,206 
Baxter International, Inc. 133,849 10,764,137 
Danaher Corp. 379,235 81,660,673 
DexCom, Inc. (a) 148,689 61,294,066 
Edwards Lifesciences Corp. (a) 293,708 23,443,773 
Hologic, Inc. (a) 95,900 6,374,473 
Intuitive Surgical, Inc. (a) 36,250 25,720,825 
Masimo Corp. (a) 19,977 4,715,771 
ResMed, Inc. 19,520 3,346,314 
Venus MedTech Hangzhou, Inc. (H Shares) (a)(c) 268,000 2,860,483 
West Pharmaceutical Services, Inc. 5,700 1,566,930 
  239,999,651 
Health Care Providers & Services - 1.6%   
Guardant Health, Inc. (a) 7,900 883,062 
Humana, Inc. 31,500 13,037,535 
Patterson Companies, Inc. 97,807 2,357,638 
UnitedHealth Group, Inc. 347,378 108,302,039 
  124,580,274 
Health Care Technology - 0.5%   
GoodRx Holdings, Inc. 26,200 1,456,720 
Veeva Systems, Inc. Class A (a) 120,318 33,832,218 
  35,288,938 
Life Sciences Tools & Services - 1.4%   
10X Genomics, Inc. (a) 26,027 3,245,046 
Adaptive Biotechnologies Corp. (a) 20,700 1,006,641 
Bio-Rad Laboratories, Inc. Class A (a) 21,975 11,327,234 
Eurofins Scientific SA (a) 4,768 3,775,649 
Illumina, Inc. (a) 2,100 649,068 
IQVIA Holdings, Inc. (a) 28,600 4,508,218 
Mettler-Toledo International, Inc. (a) 30,856 29,799,182 
Thermo Fisher Scientific, Inc. 115,060 50,801,291 
WuXi AppTec Co. Ltd. (H Shares) (c) 246,000 3,557,349 
  108,669,678 
Pharmaceuticals - 2.7%   
AstraZeneca PLC sponsored ADR 727,409 39,862,013 
Bristol-Myers Squibb Co. 392,240 23,648,150 
Eli Lilly & Co. 315,452 46,693,205 
Hansoh Pharmaceutical Group Co. Ltd. (a)(c) 920,563 4,499,379 
Horizon Therapeutics PLC (a) 226,419 17,588,228 
Jazz Pharmaceuticals PLC (a) 45,200 6,445,068 
Johnson & Johnson 10,400 1,548,352 
Merck & Co., Inc. 302,949 25,129,620 
MyoKardia, Inc. (a) 11,400 1,554,162 
Pacira Biosciences, Inc. (a) 4,600 276,552 
Royalty Pharma PLC 116,000 4,880,120 
UCB SA 41,700 4,742,443 
Zoetis, Inc. Class A 150,775 24,933,662 
  201,800,954 
TOTAL HEALTH CARE  941,371,973 
INDUSTRIALS - 3.4%   
Aerospace & Defense - 0.5%   
Lockheed Martin Corp. 44,000 16,864,320 
Northrop Grumman Corp. 53,350 16,831,392 
Space Exploration Technologies Corp.:   
Class A (a)(d)(e) 18,191 4,911,570 
Class C (a)(d)(e) 783 211,410 
  38,818,692 
Air Freight & Logistics - 0.4%   
C.H. Robinson Worldwide, Inc. 16,400 1,675,916 
United Parcel Service, Inc. Class B 145,700 24,277,991 
  25,953,907 
Building Products - 0.4%   
Fortune Brands Home & Security, Inc. 152,219 13,169,988 
The AZEK Co., Inc. 55,643 1,936,933 
Toto Ltd. 194,220 8,949,522 
Trane Technologies PLC 17,562 2,129,393 
  26,185,836 
Commercial Services & Supplies - 0.3%   
Cintas Corp. 59,644 19,851,313 
Clean TeQ Holdings Ltd. (a) 44,093 9,126 
TulCo LLC (a)(d)(e)(f) 7,549 4,691,477 
  24,551,916 
Electrical Equipment - 0.4%   
Acuity Brands, Inc. 18,300 1,873,005 
Vestas Wind Systems A/S 184,203 29,879,067 
  31,752,072 
Industrial Conglomerates - 0.0%   
General Electric Co. 355,796 2,216,609 
Machinery - 0.3%   
Deere & Co. 25,400 5,629,402 
Fortive Corp. 73,707 5,617,210 
Illinois Tool Works, Inc. 11,500 2,221,915 
Otis Worldwide Corp. 12,100 755,282 
PACCAR, Inc. 67,181 5,729,196 
  19,953,005 
Professional Services - 0.7%   
Clarivate Analytics PLC (a) 707,508 21,925,673 
CoStar Group, Inc. (a) 22,282 18,906,500 
Equifax, Inc. 4,300 674,670 
Experian PLC 194,031 7,290,594 
FTI Consulting, Inc. (a) 55,254 5,855,266 
Verisk Analytics, Inc. 5,900 1,093,329 
  55,746,032 
Road & Rail - 0.4%   
Canadian Pacific Railway Ltd. 47,400 14,418,813 
Uber Technologies, Inc. (a) 21,700 791,616 
Union Pacific Corp. 70,700 13,918,709 
  29,129,138 
Trading Companies & Distributors - 0.0%   
Air Lease Corp. Class A 4,000 117,680 
Fastenal Co. 16,100 725,949 
  843,629 
TOTAL INDUSTRIALS  255,150,836 
INFORMATION TECHNOLOGY - 35.7%   
Electronic Equipment & Components - 1.2%   
Amphenol Corp. Class A 794,406 86,010,338 
Samsung SDI Co. Ltd. 8,800 3,271,333 
  89,281,671 
IT Services - 8.8%   
Accenture PLC Class A 203,629 46,018,118 
Adyen BV (a)(c) 16,009 29,528,348 
ASAC II LP (a)(d)(e) 2,013,117 338,204 
Edenred SA 13,809 621,710 
EPAM Systems, Inc. (a) 6,487 2,097,117 
MasterCard, Inc. Class A 601,037 203,252,682 
MongoDB, Inc. Class A (a)(b) 123,564 28,606,302 
Okta, Inc. (a) 214,410 45,851,579 
PayPal Holdings, Inc. (a) 437,526 86,205,748 
Shopify, Inc. Class A (a) 63,988 65,436,386 
Snowflake Computing, Inc. (b) 21,900 5,496,900 
Snowflake Computing, Inc. Class B 4,983 1,125,660 
Square, Inc. (a) 61,700 10,029,335 
Twilio, Inc. Class A (a) 52,800 13,046,352 
Visa, Inc. Class A 627,047 125,390,589 
  663,045,030 
Semiconductors & Semiconductor Equipment - 5.4%   
Advanced Micro Devices, Inc. (a) 629,353 51,600,652 
Analog Devices, Inc. 32,600 3,805,724 
ASML Holding NV 19,247 7,107,340 
Enphase Energy, Inc. (a) 80,326 6,634,124 
KLA-Tencor Corp. 11,600 2,247,384 
Lam Research Corp. 55,451 18,395,869 
Lattice Semiconductor Corp. (a) 138,865 4,021,530 
Marvell Technology Group Ltd. 180,000 7,146,000 
NVIDIA Corp. 287,240 155,460,033 
NXP Semiconductors NV 78,853 9,841,643 
Qorvo, Inc. (a) 60,700 7,830,907 
Qualcomm, Inc. 832,737 97,996,490 
Semtech Corp. (a) 58,237 3,084,232 
Skyworks Solutions, Inc. 32,300 4,699,650 
SolarEdge Technologies, Inc. (a) 17,930 4,273,616 
Synaptics, Inc. (a) 123,692 9,947,311 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 69,200 5,610,044 
Texas Instruments, Inc. 14,800 2,113,292 
  401,815,841 
Software - 19.7%   
Adobe, Inc. (a) 682,862 334,896,011 
Agora, Inc. ADR (a)(b) 10,100 434,098 
ANSYS, Inc. (a) 2,300 752,629 
Atlassian Corp. PLC (a) 211,494 38,447,494 
Cadence Design Systems, Inc. (a) 22,300 2,377,849 
Ceridian HCM Holding, Inc. (a) 35,200 2,909,280 
Cloudflare, Inc. (a) 320,855 13,174,306 
Coupa Software, Inc. (a) 73,506 20,158,285 
Crowdstrike Holdings, Inc. (a) 20,200 2,773,864 
Datadog, Inc. Class A (a) 69,739 7,124,536 
Dropbox, Inc. Class A (a) 315,466 6,075,875 
Duck Creek Technologies, Inc. (a)(b) 8,000 363,440 
Dynatrace, Inc. (a) 224,000 9,188,480 
Epic Games, Inc. (d)(e) 7,100 4,082,500 
Everbridge, Inc. (a)(b) 8,700 1,093,851 
Fortinet, Inc. (a) 39,900 4,700,619 
Intuit, Inc. 116,990 38,163,308 
JFrog Ltd. (b) 10,000 846,500 
Microsoft Corp. 2,230,949 469,235,503 
Netcompany Group A/S (a)(c) 7,522 623,684 
RingCentral, Inc. (a) 24,831 6,818,841 
Salesforce.com, Inc. (a) 1,887,326 474,322,770 
ServiceNow, Inc. (a) 46,939 22,765,415 
Slack Technologies, Inc. Class A (a)(b) 234,994 6,311,939 
SurveyMonkey (a) 184,080 4,070,009 
Tanium, Inc. Class B (a)(d)(e) 408,212 4,651,657 
Unity Software, Inc. 22,800 1,989,984 
Xero Ltd. (a) 23,900 1,743,388 
Zoom Video Communications, Inc. Class A (a) 2,800 1,316,308 
  1,481,412,423 
Technology Hardware, Storage & Peripherals - 0.6%   
Apple, Inc. 327,300 37,904,613 
Dell Technologies, Inc. (a) 15,300 1,035,657 
Samsung Electronics Co. Ltd. 111,000 5,539,863 
  44,480,133 
TOTAL INFORMATION TECHNOLOGY  2,680,035,098 
MATERIALS - 3.1%   
Chemicals - 1.0%   
Air Products & Chemicals, Inc. 51,774 15,421,404 
FMC Corp. 7,584 803,221 
Growmax Resources Corp. (a)(c)(e) 4,800 198 
Sherwin-Williams Co. 86,078 59,973,986 
Westlake Chemical Corp. 11,200 708,064 
  76,906,873 
Containers & Packaging - 0.1%   
Silgan Holdings, Inc. 63,536 2,336,219 
WestRock Co. 19,657 682,884 
  3,019,103 
Metals & Mining - 2.0%   
Agnico Eagle Mines Ltd. (Canada) 57,400 4,573,291 
B2Gold Corp. 1,646,929 10,723,499 
Barrick Gold Corp. 102,791 2,889,455 
Barrick Gold Corp. (Canada) 1,587,966 44,602,102 
Franco-Nevada Corp. 297,517 41,574,848 
Freeport-McMoRan, Inc. 529,900 8,287,636 
Ivanhoe Mines Ltd. (a) 3,314,587 12,048,065 
Lundin Gold, Inc. (a) 144,564 1,313,675 
Newcrest Mining Ltd. 101,333 2,297,820 
Newmont Corp. 270,204 17,144,444 
Northern Star Resources Ltd. 77,800 770,924 
Novagold Resources, Inc. (a) 461,834 5,500,873 
  151,726,632 
TOTAL MATERIALS  231,652,608 
REAL ESTATE - 0.7%   
Equity Real Estate Investment Trusts (REITs) - 0.7%   
Alexandria Real Estate Equities, Inc. 37,600 6,016,000 
American Tower Corp. 148,262 35,839,373 
Equity Commonwealth 103,350 2,752,211 
Prologis (REIT), Inc. 66,179 6,658,931 
  51,266,515 
Real Estate Management & Development - 0.0%   
FirstService Corp. 2,600 342,914 
WeWork Companies, Inc. Class A (a)(d)(e) 3,404 24,134 
  367,048 
TOTAL REAL ESTATE  51,633,563 
UTILITIES - 0.2%   
Electric Utilities - 0.2%   
Iberdrola SA 59,522 733,457 
NextEra Energy, Inc. 23,351 6,481,304 
PG&E Corp. (a) 1,093,300 10,266,087 
  17,480,848 
TOTAL COMMON STOCKS   
(Cost $2,737,709,621)  7,267,825,703 
Preferred Stocks - 0.5%   
Convertible Preferred Stocks - 0.5%   
CONSUMER DISCRETIONARY - 0.1%   
Diversified Consumer Services - 0.1%   
Airbnb, Inc.:   
Series D (a)(d)(e) 35,238 3,208,068 
Series E (a)(d)(e) 16,112 1,466,836 
  4,674,904 
Internet & Direct Marketing Retail - 0.0%   
Doordash, Inc. Series H (d)(e) 10,839 2,487,887 
Specialty Retail - 0.0%   
Fanatics, Inc. Series E (d)(e) 95,908 1,658,249 
TOTAL CONSUMER DISCRETIONARY  8,821,040 
CONSUMER STAPLES - 0.0%   
Food & Staples Retailing - 0.0%   
Roofoods Ltd. Series F (a)(d)(e) 9,254 3,133,867 
HEALTH CARE - 0.1%   
Biotechnology - 0.1%   
23andMe, Inc.:   
Series E (a)(d)(e) 46,180 482,581 
Series F (a)(d)(e) 200,299 2,093,125 
  2,575,706 
Health Care Providers & Services - 0.0%   
Mulberry Health, Inc. Series A-8 (a)(d)(e) 480,971 2,187,676 
TOTAL HEALTH CARE  4,763,382 
INDUSTRIALS - 0.3%   
Aerospace & Defense - 0.3%   
Space Exploration Technologies Corp.:   
Series G (a)(d)(e) 36,460 9,844,200 
Series H (a)(d)(e) 7,256 1,959,120 
Series N (d)(e) 24,552 6,629,040 
  18,432,360 
INFORMATION TECHNOLOGY - 0.0%   
Software - 0.0%   
Delphix Corp. Series D (a)(d)(e) 232,855 1,182,903 
Magic Leap, Inc.:   
Series B, 8.00% (a)(d)(e) 1,907,399 19 
Series C (a)(d)(e) 17,554 0 
Series ED (d)(e) 469,823 1,658,475 
  2,841,397 
REAL ESTATE - 0.0%   
Real Estate Management & Development - 0.0%   
WeWork Companies, Inc.:   
Series E (a)(d)(e) 347,358 2,462,768 
Series F (a)(d)(e) 16,235 115,106 
  2,577,874 
TOTAL CONVERTIBLE PREFERRED STOCKS  40,569,920 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Specialty Retail - 0.0%   
Cazoo Holdings Ltd.:   
Series A (d)(e) 1,104 15,138 
Series B (d)(e) 19,337 265,110 
Series C (d)(e) 393 5,388 
Series D (d)(e) 69,079 947,071 
  1,232,707 
TOTAL PREFERRED STOCKS   
(Cost $78,022,086)  41,802,627 
 Principal Amount Value 
Nonconvertible Bonds - 0.1%   
INFORMATION TECHNOLOGY - 0.1%   
Software - 0.1%   
Magic Leap, Inc. 10% 6/30/22
(Cost $4,756,362)(e) 		4,756,362 7,134,543 
 Shares Value 
Money Market Funds - 4.5%   
Fidelity Cash Central Fund 0.10% (g) 306,324,060 306,385,324 
Fidelity Securities Lending Cash Central Fund 0.10% (g)(h) 32,327,420 32,330,653 
TOTAL MONEY MARKET FUNDS   
(Cost $338,715,552)  338,715,977 
TOTAL INVESTMENT IN SECURITIES - 101.9%   
(Cost $3,159,203,621)  7,655,478,850 
NET OTHER ASSETS (LIABILITIES) - (1.9)%  (146,019,459) 
NET ASSETS - 100%  $7,509,459,391 

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 $51,713,561 or 0.7% 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 $61,283,606 or 0.8% of net assets.

 (e) Level 3 security

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

 (g) 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.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
23andMe, Inc. 12/7/18 $160,205 
23andMe, Inc. Series E 6/18/15 $500,004 
23andMe, Inc. Series F 8/31/17 $2,780,992 
Airbnb, Inc. Series D 4/16/14 $1,434,646 
Airbnb, Inc. Series E 6/29/15 $1,499,937 
ASAC II LP 10/10/13 $155,030 
Blu Investments LLC 5/21/20 $36,484 
Cazoo Holdings Ltd. 9/30/20 $463,836 
Cazoo Holdings Ltd. Series A 9/30/20 $15,136 
Cazoo Holdings Ltd. Series B 9/30/20 $265,110 
Cazoo Holdings Ltd. Series C 9/30/20 $5,388 
Cazoo Holdings Ltd. Series D 9/30/20 $947,071 
Delphix Corp. Series D 7/10/15 $2,095,695 
Doordash, Inc. Series H 6/17/20 $2,487,887 
Epic Games, Inc. 7/13/20 - 7/30/20 $4,082,500 
Fanatics, Inc. Series E 8/13/20 $1,658,249 
Magic Leap, Inc. Series B, 8.00% 10/17/14 $22,049,532 
Magic Leap, Inc. Series C 12/23/15 $404,321 
Magic Leap, Inc. Series ED 10/6/17 $12,685,221 
Mulberry Health, Inc. Series A-8 1/20/16 $3,248,839 
Roofoods Ltd. Series F 9/12/17 $3,271,942 
Space Exploration Technologies Corp. Class A 10/16/15 - 9/11/17 $1,883,269 
Space Exploration Technologies Corp. Class C 9/11/17 $105,705 
Space Exploration Technologies Corp. Series G 1/20/15 $2,824,191 
Space Exploration Technologies Corp. Series H 8/4/17 $979,560 
Space Exploration Technologies Corp. Series N 8/4/20 $6,629,040 
Tanium, Inc. Class B 4/21/17 - 9/18/20 $3,439,433 
TulCo LLC 8/24/17 - 12/14/17 $2,557,607 
WeWork Companies, Inc. Class A 6/23/15 $111,956 
WeWork Companies, Inc. Series E 6/23/15 $11,424,455 
WeWork Companies, Inc. Series F 12/1/16 $814,871 

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 
Fidelity Cash Central Fund $505,466 
Fidelity Securities Lending Cash Central Fund 28,839 
Total $534,305 

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.

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, changes in interest rates and credit quality. 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. 

Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

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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