NPORT-EX 2 QTLY_22_20210331.htm

Quarterly Holdings Report
for

Fidelity® Contrafund®

March 31, 2021







CON-QTLY-0521
1.799873.117





Schedule of Investments March 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 20.5%   
Entertainment - 4.3%   
Activision Blizzard, Inc. 11,055,821 $1,028,191 
Netflix, Inc. (a) 6,507,327 3,394,612 
Nintendo Co. Ltd. 130,190 73,380 
Sea Ltd. ADR (a) 57,791 12,901 
Skillz, Inc. (a)(b) 1,000,598 19,051 
Spotify Technology SA (a) 690,991 185,151 
Take-Two Interactive Software, Inc. (a) 505,502 89,322 
The Walt Disney Co. (a) 4,490,131 828,519 
  5,631,127 
Interactive Media & Services - 15.1%   
Alphabet, Inc.:   
Class A (a) 1,703,244 3,512,975 
Class C (a) 1,580,826 3,270,144 
Bumble, Inc. (b) 1,309,998 81,718 
Facebook, Inc. Class A (a) 41,874,746 12,333,373 
Kuaishou Technology Class B (c) 889,577 30,896 
Match Group, Inc. (a) 693,560 95,281 
NAVER Corp. 79,769 26,807 
Snap, Inc. Class A (a) 5,844,050 305,585 
Tencent Holdings Ltd. 1,414,774 112,910 
Twitter, Inc. (a) 768,164 48,878 
Zoominfo Technologies, Inc. 788,741 38,569 
  19,857,136 
Media - 0.5%   
Charter Communications, Inc. Class A (a) 508,951 314,033 
Comcast Corp. Class A 4,960,016 268,386 
Discovery Communications, Inc. Class A (a)(b) 725,838 31,545 
  613,964 
Wireless Telecommunication Services - 0.6%   
T-Mobile U.S., Inc. 6,883,464 862,429 
TOTAL COMMUNICATION SERVICES  26,964,656 
CONSUMER DISCRETIONARY - 14.2%   
Automobiles - 0.4%   
General Motors Co. 4,040,312 232,156 
Hyundai Motor Co. 651,600 126,756 
Rad Power Bikes, Inc. (d)(e) 2,588,458 12,486 
Tesla, Inc. (a) 20,520 13,706 
Toyota Motor Corp. 2,510,777 195,389 
  580,493 
Diversified Consumer Services - 0.1%   
Chegg, Inc. (a) 322,434 27,620 
H&R Block, Inc. 1,808,575 39,427 
  67,047 
Hotels, Restaurants & Leisure - 0.9%   
Airbnb, Inc. 1,935,340 345,541 
Chipotle Mexican Grill, Inc. (a) 220,012 312,597 
Deliveroo Holdings PLC 43,406,200 154,809 
Deliveroo Holdings PLC (a) 9,575,200 51,481 
Evolution Gaming Group AB (c) 772,255 113,715 
Flutter Entertainment PLC (Ireland) 90,970 19,555 
Hilton Worldwide Holdings, Inc. 788,231 95,313 
Penn National Gaming, Inc. (a) 506,716 53,124 
Starbucks Corp. 800,421 87,462 
  1,233,597 
Household Durables - 0.8%   
D.R. Horton, Inc. 2,994,323 266,854 
Garmin Ltd. 1,013,726 133,660 
Lennar Corp. Class A 2,833,815 286,867 
Mohawk Industries, Inc. (a) 560,122 107,717 
Sony Corp. 1,353,031 143,196 
Tempur Sealy International, Inc. 805,390 29,445 
Whirlpool Corp. 120,662 26,588 
  994,327 
Internet & Direct Marketing Retail - 9.3%   
Alibaba Group Holding Ltd. (a) 6,006,387 170,657 
Alibaba Group Holding Ltd. sponsored ADR (a) 91,619 20,773 
Amazon.com, Inc. (a) 3,596,868 11,128,997 
Coupang Corp. unit (d) 2,489,211 110,558 
Coupang, Inc. Class A (a)(b) 1,110,545 54,805 
Doordash, Inc. 963,350 120,008 
eBay, Inc. 7,107,219 435,246 
JD.com, Inc. Class A 2,310,227 97,428 
Meituan Class B (a)(c) 427,988 16,417 
The Booking Holdings, Inc. (a) 10,558 24,598 
Wayfair LLC Class A (a) 286,723 90,246 
Zomato Pvt Ltd. (d)(e) 1,677 8,941 
ZOZO, Inc. 809,920 23,993 
  12,302,667 
Specialty Retail - 1.6%   
Academy Sports & Outdoors, Inc. (b) 1,237,343 33,396 
Best Buy Co., Inc. 1,395,469 160,214 
Burlington Stores, Inc. (a) 148,462 44,360 
Cazoo Holdings Ltd. (d)(e) 579,926 8,495 
Dick's Sporting Goods, Inc. 493,609 37,588 
L Brands, Inc. 532,276 32,927 
Lowe's Companies, Inc. 899,841 171,132 
National Vision Holdings, Inc. (a) 471,272 20,656 
O'Reilly Automotive, Inc. (a) 25,963 13,170 
RH (a) 21,270 12,690 
The Home Depot, Inc. 4,095,344 1,250,104 
TJX Companies, Inc. 3,573,030 236,356 
Williams-Sonoma, Inc. 496,272 88,932 
  2,110,020 
Textiles, Apparel & Luxury Goods - 1.1%   
Allbirds, Inc. (a)(d)(e) 867,565 9,960 
Deckers Outdoor Corp. (a) 601,651 198,798 
Dr. Martens Ltd. (a) 11,937,027 74,580 
Hermes International SCA 10,329 11,435 
Levi Strauss & Co. Class A (b) 557,687 13,334 
lululemon athletica, Inc. (a) 253,556 77,768 
LVMH Moet Hennessy Louis Vuitton SE 38,741 25,877 
NIKE, Inc. Class B 6,643,234 882,819 
On Holding AG (a)(d)(e) 2,600 47,182 
Tapestry, Inc. 1,442,310 59,438 
  1,401,191 
TOTAL CONSUMER DISCRETIONARY  18,689,342 
CONSUMER STAPLES - 2.6%   
Beverages - 0.5%   
Boston Beer Co., Inc. Class A (a) 7,578 9,141 
Constellation Brands, Inc. Class A (sub. vtg.) 876,930 199,940 
Keurig Dr. Pepper, Inc. 1,834,200 63,041 
Monster Beverage Corp. (a) 914,662 83,317 
PepsiCo, Inc. 871,477 123,270 
The Coca-Cola Co. 3,040,710 160,276 
  638,985 
Food & Staples Retailing - 0.9%   
Costco Wholesale Corp. 3,063,105 1,079,683 
Walmart, Inc. 996,078 135,297 
  1,214,980 
Food Products - 0.0%   
Bunge Ltd. 450,845 35,738 
Freshpet, Inc. (a) 67,554 10,728 
  46,466 
Household Products - 0.0%   
Colgate-Palmolive Co. 32,485 2,561 
Personal Products - 1.2%   
Estee Lauder Companies, Inc. Class A 4,762,545 1,385,186 
L'Oreal SA (a) 198,565 76,067 
L'Oreal SA (a) 196,028 75,095 
  1,536,348 
TOTAL CONSUMER STAPLES  3,439,340 
ENERGY - 0.3%   
Oil, Gas & Consumable Fuels - 0.3%   
Canadian Natural Resources Ltd. 1,401,040 43,312 
Hess Corp. 1,501,688 106,259 
Reliance Industries Ltd. 8,471,039 231,971 
  381,542 
FINANCIALS - 11.5%   
Banks - 3.0%   
Bank of America Corp. 37,448,958 1,448,900 
Citigroup, Inc. 1,303,187 94,807 
HDFC Bank Ltd. (a) 1,274,400 26,074 
HDFC Bank Ltd. sponsored ADR (a) 578,501 44,944 
JPMorgan Chase & Co. 8,901,987 1,355,149 
Kotak Mahindra Bank Ltd. (a) 4,574,666 109,632 
M&T Bank Corp. 964,167 146,177 
Royal Bank of Canada 3,591,780 331,169 
SVB Financial Group (a) 21,352 10,541 
The Toronto-Dominion Bank 4,565,168 297,733 
Wells Fargo & Co. 2,213,318 86,474 
  3,951,600 
Capital Markets - 1.4%   
BlackRock, Inc. Class A 766,825 578,155 
Brookfield Asset Management, Inc. (Canada) Class A 618,011 27,490 
Goldman Sachs Group, Inc. 913,002 298,552 
Moody's Corp. 66,521 19,864 
Morgan Stanley 9,708,865 753,990 
MSCI, Inc. 453,870 190,299 
  1,868,350 
Consumer Finance - 0.2%   
Capital One Financial Corp. 2,418,500 307,706 
Diversified Financial Services - 5.6%   
Berkshire Hathaway, Inc. Class A (a) 19,061 7,351,866 
Coinbase, Inc. (a)(d)(e) 109,100 40,694 
Rapyd Financial Network 2016 Ltd. (e) 340,545 25,000 
  7,417,560 
Insurance - 1.3%   
Admiral Group PLC 6,150,440 262,934 
AIA Group Ltd. 2,050,535 25,092 
American International Group, Inc. 4,201,461 194,150 
Arthur J. Gallagher & Co. 490,405 61,188 
Chubb Ltd. 2,029,049 320,529 
Direct Line Insurance Group PLC 3,224,915 13,929 
Fairfax Financial Holdings Ltd. (sub. vtg.) 116,671 50,927 
Hartford Financial Services Group, Inc. 889,738 59,426 
Intact Financial Corp. 266,001 32,597 
Intact Financial Corp. rights 12/31/21 (a)(d)(e) 170,200 18,216 
Oscar Health, Inc. Class A 3,116,567 75,396 
Progressive Corp. 3,017,197 288,474 
The Travelers Companies, Inc. 1,595,124 239,907 
  1,642,765 
TOTAL FINANCIALS  15,187,981 
HEALTH CARE - 11.2%   
Biotechnology - 2.2%   
23andMe, Inc. (a)(d) 166,622 3,420 
AbbVie, Inc. 5,471,136 592,086 
Acceleron Pharma, Inc. (a) 207,650 28,159 
Allovir, Inc. (a) 911,102 21,320 
Alnylam Pharmaceuticals, Inc. (a) 338,057 47,730 
Argenx SE ADR (a) 77,932 21,462 
Cullinan Oncology, Inc. 254,151 10,590 
Generation Bio Co. 335,758 9,556 
Genmab A/S (a) 43,521 14,319 
Idorsia Ltd. (a) 3,282,370 88,002 
Innovent Biologics, Inc. (a)(c) 6,888,363 69,866 
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(e) 105,983 
Kodiak Sciences, Inc. (a) 226,541 25,687 
Mirati Therapeutics, Inc. (a) 235,464 40,335 
Moderna, Inc. (a) 72,298 9,467 
Nuvation Bio Pvt, Inc. 7,016,001 65,985 
Passage Bio, Inc. (a) 635,894 11,115 
Regeneron Pharmaceuticals, Inc. (a) 2,068,130 978,515 
Replimune Group, Inc. (a) 151,920 4,635 
Revolution Medicines, Inc. (a) 606,004 27,803 
TG Therapeutics, Inc. (a) 248,139 11,960 
Turning Point Therapeutics, Inc. (a) 639,281 60,470 
Vertex Pharmaceuticals, Inc. (a) 3,427,440 736,523 
Zai Lab Ltd. (a) 541,748 73,004 
  2,952,009 
Health Care Equipment & Supplies - 2.1%   
Abbott Laboratories 4,836,163 579,566 
Danaher Corp. 4,011,423 902,891 
DexCom, Inc. (a) 590,365 212,171 
Edwards Lifesciences Corp. (a) 1,826,544 152,772 
Envista Holdings Corp. (a) 2,261,651 92,275 
Hologic, Inc. (a) 2,447,578 182,051 
Intuitive Surgical, Inc. (a) 576,855 426,261 
Medtronic PLC 850,584 100,479 
Sonova Holding AG Class B 144,161 38,193 
Venus MedTech Hangzhou, Inc. (H Shares) (a)(c) 3,280,735 26,608 
West Pharmaceutical Services, Inc. 80,423 22,662 
  2,735,929 
Health Care Providers & Services - 3.6%   
AmerisourceBergen Corp. 476,173 56,222 
Guardant Health, Inc. (a) 454,503 69,380 
HCA Holdings, Inc. 428,335 80,673 
Henry Schein, Inc. (a) 392,752 27,194 
Laboratory Corp. of America Holdings (a) 292,508 74,598 
McKesson Corp. 200,922 39,188 
Oak Street Health, Inc. (a) 1,290,100 70,014 
Owens & Minor, Inc. 1,105,075 41,540 
Patterson Companies, Inc. 2,743,075 87,641 
Surgery Partners, Inc. (a) 694,865 30,755 
UnitedHealth Group, Inc. 11,065,530 4,117,152 
  4,694,357 
Health Care Technology - 0.2%   
Veeva Systems, Inc. Class A (a) 879,919 229,870 
Life Sciences Tools & Services - 1.3%   
10X Genomics, Inc. (a) 209,681 37,952 
Bio-Rad Laboratories, Inc. Class A (a) 323,867 184,983 
Bio-Techne Corp. 29,419 11,236 
Eurofins Scientific SA (a) 802,737 76,731 
IQVIA Holdings, Inc. (a) 697,473 134,710 
Mettler-Toledo International, Inc. (a) 492,581 569,271 
PerkinElmer, Inc. 68,634 8,805 
Thermo Fisher Scientific, Inc. 1,535,534 700,787 
Waters Corp. (a) 37,602 10,685 
WuXi AppTec Co. Ltd. (H Shares) (c) 836,922 16,460 
  1,751,620 
Pharmaceuticals - 1.8%   
Bristol-Myers Squibb Co. 2,973,088 187,691 
Eli Lilly & Co. 6,196,896 1,157,704 
Hansoh Pharmaceutical Group Co. Ltd. (a)(c) 9,941,854 47,637 
Horizon Therapeutics PLC (a) 3,940,098 362,647 
Jazz Pharmaceuticals PLC (a) 1,115,921 183,424 
Nuvation Bio, Inc. (d) 3,572,265 35,464 
Royalty Pharma PLC 4,098,610 178,781 
Supernus Pharmaceuticals, Inc. (a) 343,057 8,981 
UCB SA 658,742 62,666 
Zoetis, Inc. Class A 1,169,559 184,182 
  2,409,177 
TOTAL HEALTH CARE  14,772,962 
INDUSTRIALS - 3.8%   
Aerospace & Defense - 0.2%   
HEICO Corp. Class A 418,954 47,593 
Northrop Grumman Corp. 36,448 11,796 
Space Exploration Technologies Corp.:   
Class A (a)(d)(e) 347,648 146,009 
Class C (a)(d)(e) 12,991 5,456 
The Boeing Co. 238,135 60,658 
  271,512 
Air Freight & Logistics - 0.5%   
United Parcel Service, Inc. Class B 3,935,185 668,942 
Airlines - 0.0%   
Southwest Airlines Co. 182,380 11,136 
Building Products - 0.6%   
Carrier Global Corp. 1,681,725 71,002 
Fortune Brands Home & Security, Inc. 3,515,459 336,851 
The AZEK Co., Inc. 620,732 26,102 
Toto Ltd. 3,285,717 202,223 
Trane Technologies PLC 1,047,221 173,378 
  809,556 
Commercial Services & Supplies - 0.3%   
Cintas Corp. 625,904 213,627 
Clean TeQ Holdings Ltd. (a)(b)(f) 4,535,920 10,026 
GFL Environmental, Inc. (b) 501,522 17,528 
TulCo LLC (a)(d)(e)(g) 140,771 114,706 
  355,887 
Electrical Equipment - 0.6%   
Acuity Brands, Inc. 639,619 105,537 
AMETEK, Inc. 447,041 57,101 
Shoals Technologies Group, Inc. 241,688 8,406 
Vestas Wind Systems A/S 2,917,923 601,929 
  772,973 
Industrial Conglomerates - 0.3%   
General Electric Co. 33,229,110 436,298 
Machinery - 0.5%   
Deere & Co. 1,017,416 380,656 
IDEX Corp. 136,067 28,482 
Illinois Tool Works, Inc. 48,831 10,817 
Ingersoll Rand, Inc. (a) 802,571 39,495 
Otis Worldwide Corp. 588,031 40,251 
PACCAR, Inc. 1,673,009 155,456 
Pentair PLC 399,199 24,878 
  680,035 
Professional Services - 0.2%   
Clarivate Analytics PLC (a) 5,568,641 146,956 
CoStar Group, Inc. (a) 12,836 10,550 
Experian PLC 426,201 14,683 
Thomson Reuters Corp. 571,979 50,107 
  222,296 
Road & Rail - 0.6%   
Canadian Pacific Railway Ltd. 1,049,767 400,961 
Uber Technologies, Inc. (a) 1,010,113 55,061 
Union Pacific Corp. 1,708,801 376,637 
  832,659 
TOTAL INDUSTRIALS  5,061,294 
INFORMATION TECHNOLOGY - 31.1%   
Electronic Equipment & Components - 1.4%   
Amphenol Corp. Class A 22,278,813 1,469,733 
CDW Corp. 337,882 56,004 
Keysight Technologies, Inc. (a) 297,265 42,628 
Samsung SDI Co. Ltd. 144,665 85,384 
Zebra Technologies Corp. Class A (a) 297,947 144,558 
  1,798,307 
IT Services - 7.4%   
Accenture PLC Class A 3,220,580 889,685 
Adyen BV (a)(c) 225,637 503,488 
ASAC II LP (a)(d)(e) 39,494,500 6,635 
MasterCard, Inc. Class A 3,832,528 1,364,572 
MongoDB, Inc. Class A (a) 1,182,318 316,187 
Okta, Inc. (a) 2,915,837 642,738 
PayPal Holdings, Inc. (a) 7,968,058 1,934,963 
Shopify, Inc. Class A (a) 713,336 787,542 
Snowflake Computing, Inc. (b) 323,320 74,131 
Snowflake Computing, Inc. Class B (c) 88,269 20,238 
Square, Inc. (a) 826,202 187,589 
Twilio, Inc. Class A (a) 608,079 207,209 
Visa, Inc. Class A (b) 13,497,141 2,857,750 
Wix.com Ltd. (a) 60,992 17,030 
  9,809,757 
Semiconductors & Semiconductor Equipment - 6.2%   
Advanced Micro Devices, Inc. (a) 9,297,935 729,888 
Analog Devices, Inc. 1,898,052 294,350 
Applied Materials, Inc. 2,304,105 307,828 
ASML Holding NV 175,012 108,045 
Intel Corp. 4,789,703 306,541 
KLA Corp. 69,681 23,023 
Lam Research Corp. 1,356,729 807,579 
Lattice Semiconductor Corp. (a) 1,871,882 84,272 
Marvell Technology Group Ltd. 3,460,247 169,483 
Microchip Technology, Inc. 241,472 37,481 
NVIDIA Corp. 4,121,782 2,200,743 
NXP Semiconductors NV 684,590 137,835 
Qorvo, Inc. (a) 1,662,228 303,689 
Qualcomm, Inc. 13,884,758 1,840,980 
Semtech Corp. (a) 1,551,422 107,048 
Skyworks Solutions, Inc. 1,234,875 226,575 
Synaptics, Inc. (a)(f) 2,166,476 293,384 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 427,860 50,607 
Texas Instruments, Inc. 722,299 136,507 
  8,165,858 
Software - 12.9%   
Adobe, Inc. (a) 6,354,708 3,020,838 
Affirm, Inc. 5,148,069 327,664 
Atlassian Corp. PLC (a) 2,242,335 472,595 
Cadence Design Systems, Inc. (a) 1,293,554 177,204 
Cloudflare, Inc. (a) 8,207,073 576,629 
Coupa Software, Inc. (a) 260,720 66,348 
Crowdstrike Holdings, Inc. (a) 214,364 39,124 
Datadog, Inc. Class A (a) 1,042,767 86,904 
DocuSign, Inc. (a) 88,747 17,967 
Dropbox, Inc. Class A (a) 3,901,438 104,012 
Duck Creek Technologies, Inc. (a)(b) 852,470 38,480 
Dynatrace, Inc. (a) 2,176,099 104,975 
Epic Games, Inc. (d)(e) 123,700 109,475 
Fortinet, Inc. (a) 137,643 25,384 
Intuit, Inc. 862,329 330,324 
Microsoft Corp. 29,841,222 7,035,665 
Nuance Communications, Inc. (a) 255,345 11,143 
Qualtrics International, Inc. 621,007 20,437 
Salesforce.com, Inc. (a) 18,123,589 3,839,845 
ServiceNow, Inc. (a) 758,101 379,134 
Tanium, Inc. Class B (a)(d)(e) 6,742,751 76,835 
Workday, Inc. Class A (a) 190,795 47,399 
Xero Ltd. (a) 404,379 38,863 
Zoom Video Communications, Inc. Class A (a) 42,500 13,655 
Zscaler, Inc. (a) 79,415 13,633 
  16,974,532 
Technology Hardware, Storage & Peripherals - 3.2%   
Apple, Inc. 33,140,638 4,048,129 
Dell Technologies, Inc. (a) 881,087 77,668 
Logitech International SA (b) 103,226 10,787 
Samsung Electronics Co. Ltd. 1,244,900 90,398 
  4,226,982 
TOTAL INFORMATION TECHNOLOGY  40,975,436 
MATERIALS - 1.9%   
Chemicals - 0.6%   
Growmax Resources Corp. (a)(c)(e) 2,911,036 127 
LG Chemical Ltd. 10,521 7,557 
PPG Industries, Inc. 218,042 32,763 
Sherwin-Williams Co. 985,378 727,219 
Westlake Chemical Corp. 410,567 36,454 
  804,120 
Containers & Packaging - 0.0%   
Silgan Holdings, Inc. 1,513,279 63,603 
Metals & Mining - 1.3%   
ArcelorMittal SA Class A unit (a)(b) 1,465,406 42,746 
B2Gold Corp. 45,972,080 197,906 
Barrick Gold Corp. (Canada) 12,225,378 242,523 
First Quantum Minerals Ltd. 999,235 19,043 
Franco-Nevada Corp. 4,225,485 529,539 
Freeport-McMoRan, Inc. 6,258,797 206,102 
Gatos Silver, Inc. 2,802,910 27,945 
Ivanhoe Mines Ltd. (a) 43,240,772 222,621 
Ivanhoe Mines Ltd. (a)(c) 12,457,048 64,134 
Novagold Resources, Inc. (a) 6,914,728 60,305 
Nucor Corp. 853,568 68,516 
POSCO sponsored ADR 158,535 11,446 
  1,692,826 
TOTAL MATERIALS  2,560,549 
REAL ESTATE - 0.1%   
Equity Real Estate Investment Trusts (REITs) - 0.1%   
Equity Commonwealth 1,757,539 48,860 
Prologis (REIT), Inc. 155,979 16,534 
  65,394 
Real Estate Management & Development - 0.0%   
WeWork Companies, Inc. Class A (a)(d)(e) 53,694 637 
TOTAL REAL ESTATE  66,031 
UTILITIES - 0.2%   
Electric Utilities - 0.2%   
PG&E Corp. (a) 18,747,764 219,536 
Independent Power and Renewable Electricity Producers - 0.0%   
The AES Corp. 2,270,178 60,863 
TOTAL UTILITIES  280,399 
TOTAL COMMON STOCKS   
(Cost $46,281,787)  128,379,532 
Preferred Stocks - 1.0%   
Convertible Preferred Stocks - 1.0%   
CONSUMER DISCRETIONARY - 0.2%   
Automobiles - 0.1%   
Rad Power Bikes, Inc.:   
Series A (d)(e) 337,463 1,628 
Series C (d)(e) 1,327,879 6,405 
Rivian Automotive, Inc. Series F (d)(e) 954,421 35,170 
  43,203 
Internet & Direct Marketing Retail - 0.0%   
GoBrands, Inc. Series G (d)(e) 55,517 13,864 
Zomato Pvt Ltd.:   
Series B (d)(e) 67 357 
Series E (d)(e) 448,833 
Series G (d)(e) 451 2,405 
Series J7 (d)(e) 3,182 16,965 
  33,591 
Specialty Retail - 0.1%   
Aurora Innovation, Inc. Series B (a)(d)(e) 2,121,140 41,702 
Fanatics, Inc. Series E (d)(e) 1,673,822 58,366 
  100,068 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (a)(d)(e) 342,405 3,931 
Series B (a)(d)(e) 60,155 691 
Series C (a)(d)(e) 574,905 6,600 
Series Seed (a)(d)(e) 183,970 2,112 
  13,334 
TOTAL CONSUMER DISCRETIONARY  190,196 
FINANCIALS - 0.0%   
Thrifts & Mortgage Finance - 0.0%   
Acrisure Holdings, Inc. Series B (d)(e) 379,681 6,918 
HEALTH CARE - 0.1%   
Biotechnology - 0.1%   
23andMe, Inc.:   
Series E (a)(d) 664,987 13,649 
Series F (a)(d) 3,348,986 68,740 
Series F1 (d) 754,793 15,493 
ElevateBio LLC Series C (d)(e) 3,224,900 13,528 
Intarcia Therapeutics, Inc. Series CC (a)(d)(e) 2,100,446 
  111,410 
Health Care Providers & Services - 0.0%   
Get Heal, Inc. Series B (a)(d)(e) 35,877,127 1,409 
Lyra Health, Inc. Series E (d)(e) 492,700 13,534 
  14,943 
TOTAL HEALTH CARE  126,353 
INDUSTRIALS - 0.4%   
Aerospace & Defense - 0.4%   
Relativity Space, Inc. Series D (d)(e) 1,673,085 24,974 
Space Exploration Technologies Corp.:   
Series G (a)(d)(e) 558,215 234,445 
Series H (a)(d)(e) 120,282 50,517 
Series N (d)(e) 428,458 179,948 
  489,884 
Air Freight & Logistics - 0.0%   
Zipline International, Inc. Series E (d)(e) 1,317,166 42,978 
Commercial Services & Supplies - 0.0%   
ZenPayroll, Inc. Series D (a)(d)(e) 2,436,137 32,431 
TOTAL INDUSTRIALS  565,293 
INFORMATION TECHNOLOGY - 0.1%   
IT Services - 0.0%   
ByteDance Ltd. Series E1 (d)(e) 653,587 71,616 
Software - 0.1%   
Carbon, Inc.:   
Series D (a)(d)(e) 915,425 33,724 
Series E (a)(d)(e) 81,735 3,050 
Delphix Corp. Series D (a)(d)(e) 3,712,687 30,110 
Nuro, Inc. Series C (d)(e) 3,293,118 42,990 
Stripe, Inc. Series H (d)(e) 190,300 7,636 
  117,510 
TOTAL INFORMATION TECHNOLOGY  189,126 
MATERIALS - 0.1%   
Metals & Mining - 0.1%   
High Power Exploration, Inc. Series A (a)(d)(e) 14,154,085 74,592 
REAL ESTATE - 0.1%   
Real Estate Management & Development - 0.1%   
WeWork Companies, Inc.:   
Series E (a)(d)(e) 5,464,465 64,778 
Series F (a)(d)(e) 253,732 3,008 
  67,786 
TOTAL CONVERTIBLE PREFERRED STOCKS  1,220,264 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Specialty Retail - 0.0%   
Cazoo Holdings Ltd.:   
Series A (d)(e) 18,932 277 
Series B (d)(e) 331,469 4,855 
Series C (d)(e) 6,729 99 
Series D (d)(e) 1,184,131 17,345 
  22,576 
TOTAL PREFERRED STOCKS   
(Cost $1,016,832)  1,242,840 
 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 - 2.1%   
Fidelity Cash Central Fund 0.06% (h) 2,422,711,446 2,423,196 
Fidelity Securities Lending Cash Central Fund 0.06% (h)(i) 378,231,320 378,269 
TOTAL MONEY MARKET FUNDS   
(Cost $2,801,464)  2,801,465 
TOTAL INVESTMENT IN SECURITIES - 100.5%   
(Cost $50,109,356)  132,435,633 
NET OTHER ASSETS (LIABILITIES) - (0.5)%  (657,169) 
NET ASSETS - 100%  $131,778,464 

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 $909,586,000 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 $2,009,803,000 or 1.5% 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) 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.

 (i) 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 
23andMe, Inc. Series F1 12/9/20 $13,096 
Acrisure Holdings, Inc. Series B 3/22/21 $6,918 
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 
ByteDance Ltd. Series E1 11/18/20 $71,616 
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 
Coinbase, Inc. 2/25/21 - 3/5/21 $41,005 
Coupang Corp. unit 6/12/20 $18,669 
Delphix Corp. Series D 7/10/15 $33,414 
ElevateBio LLC Series C 3/9/21 $13,528 
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 
GoBrands, Inc. Series G 3/2/21 $13,864 
High Power Exploration, Inc. Series A 11/15/19 - 3/4/21 $74,592 
Intact Financial Corp. rights 12/31/21 11/13/20 $17,419 
Intarcia Therapeutics, Inc. Series CC 11/14/12 $28,629 
Intarcia Therapeutics, Inc. 6% 7/18/21 1/3/20 $9,273 
Lyra Health, Inc. Series E 1/14/21 $13,534 
Nuro, Inc. Series C 10/30/20 $42,990 
Nuvation Bio, Inc. 2/10/21 $35,723 
On Holding AG 2/6/20 $23,693 
Rad Power Bikes, Inc. 1/21/21 $12,486 
Rad Power Bikes, Inc. Series A 1/21/21 $1,628 
Rad Power Bikes, Inc. Series C 1/21/21 $6,405 
Relativity Space, Inc. Series D 11/20/20 $24,974 
Rivian Automotive, Inc. Series F 1/19/21 $35,170 
Space Exploration Technologies Corp. Class A 10/16/15 - 2/16/21 $52,558 
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 
Stripe, Inc. Series H 3/15/21 $7,636 
Tanium, Inc. Class B 4/21/17 - 9/18/20 $57,901 
TulCo LLC 8/24/17 - 9/7/18 $49,390 
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 
Zipline International, Inc. Series E 12/21/20 $42,978 
Zomato Pvt Ltd. 1/22/21 - 1/29/21 $6,906 
Zomato Pvt Ltd. Series B 1/22/21 $276 
Zomato Pvt Ltd. Series E 1/22/21 $0 
Zomato Pvt Ltd. Series G 1/22/21 - 2/5/21 $1,860 
Zomato Pvt Ltd. Series J7 12/9/20 $12,960 

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 $403 
Fidelity Securities Lending Cash Central Fund 330 
Total $733 

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 
Clean TeQ Holdings Ltd. $9,033 $-- $333 $-- $58 $1,268 $10,026 
Synaptics, Inc. 211,308 6,527 9,160 -- 5,180 79,529 293,384 
Total $220,341 $6,527 $9,493 $-- $5,238 $80,797 $303,410 

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.  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. 

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. Preferred securities 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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