NPORT-EX 2 QTLY_2930_20210930.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity Flex® Funds
Fidelity Flex® Opportunistic Insights Fund
September 30, 2021
ZPI-NPRT3-1121
1.9881593.104
Common Stocks - 98.0%
 
  
Shares
Value ($)
 
COMMUNICATION SERVICES - 19.5%
 
  
  
Entertainment - 3.0%
  
  
  
Netflix, Inc. (a)
  
1,251
763,535
Roblox Corp. (a)
  
366
27,651
Sea Ltd. ADR (a)
  
76
24,223
The Walt Disney Co. (a)
  
3,107
525,611
Universal Music Group NV
 
668
17,796
Warner Music Group Corp. Class A
 
217
9,275
 
  
  
1,368,091
Interactive Media & Services - 15.7%
  
  
  
Alphabet, Inc.:
  
  
  
 Class A (a)
  
382
1,021,285
 Class C (a)
  
481
1,282,014
Bumble, Inc.
 
506
25,290
Facebook, Inc. Class A (a)
  
13,273
4,504,721
Snap, Inc. Class A (a)
  
3,725
275,166
Zoominfo Technologies, Inc. (a)
  
414
25,333
 
  
  
7,133,809
Media - 0.5%
  
  
  
Charter Communications, Inc. Class A (a)
  
120
87,307
Comcast Corp. Class A
 
1,935
108,225
Liberty Media Corp. Liberty Formula One Group Series C (a)
  
420
21,592
 
  
  
217,124
Wireless Telecommunication Services - 0.3%
  
  
  
T-Mobile U.S., Inc. (a)
  
976
124,694
TOTAL COMMUNICATION SERVICES
  
  
8,843,718
CONSUMER DISCRETIONARY - 13.0%
 
  
  
Automobiles - 0.8%
  
  
  
General Motors Co. (a)
  
2,078
109,531
Hyundai Motor Co.
 
520
86,524
Rad Power Bikes, Inc. (a)(b)(c)
  
669
6,412
Tesla, Inc. (a)
  
4
3,102
Toyota Motor Corp.
 
8,403
149,720
XPeng, Inc. Class A
 
1,152
19,778
 
  
  
375,067
Diversified Consumer Services - 0.0%
  
  
  
Duolingo, Inc. (a)
  
27
4,492
Hotels, Restaurants & Leisure - 0.8%
  
  
  
Airbnb, Inc. Class A
 
675
113,231
Booking Holdings, Inc. (a)
  
2
4,748
Caesars Entertainment, Inc. (a)
  
41
4,603
Chipotle Mexican Grill, Inc. (a)
  
83
150,854
Churchill Downs, Inc.
 
21
5,042
Dutch Bros, Inc.
 
300
12,996
Evolution AB (d)
  
224
33,922
Hilton Worldwide Holdings, Inc. (a)
  
359
47,427
 
  
  
372,823
Household Durables - 0.8%
  
  
  
D.R. Horton, Inc.
 
1,230
103,283
Garmin Ltd.
 
368
57,209
Lennar Corp. Class A
 
1,229
115,133
Mohawk Industries, Inc. (a)
  
218
38,673
Sony Group Corp.
 
82
9,104
Tempur Sealy International, Inc.
 
385
17,868
 
  
  
341,270
Internet & Direct Marketing Retail - 7.6%
  
  
  
Amazon.com, Inc. (a)
  
883
2,900,690
Cazoo Group Ltd. (a)(b)(e)
  
298
2,200
Cazoo Group Ltd.
 
1,174
8,210
Coupang, Inc. Class A (a)
  
1,988
55,366
Deliveroo PLC (a)
  
2,200
8,487
Deliveroo PLC Class A (a)(d)
  
13,204
51,087
Doordash, Inc.
 
493
101,548
eBay, Inc.
 
3,463
241,267
Etsy, Inc. (a)
  
119
24,747
Global-e Online Ltd.
 
148
10,626
Warby Parker, Inc.
 
84
4,456
Wayfair LLC Class A (a)
  
110
28,106
Zomato Ltd. (a)(b)
  
6,700
10,489
ZOZO, Inc.
 
243
9,104
 
  
  
3,456,383
Leisure Products - 0.0%
  
  
  
Thule Group AB (d)
  
183
9,175
YETI Holdings, Inc. (a)
  
47
4,027
 
  
  
13,202
Specialty Retail - 2.1%
  
  
  
Academy Sports & Outdoors, Inc.
 
1,496
59,870
AutoZone, Inc. (a)
  
20
33,960
Best Buy Co., Inc.
 
39
4,123
Burlington Stores, Inc. (a)
  
114
32,327
Carvana Co. Class A (a)
  
27
8,142
Dick's Sporting Goods, Inc.
 
489
58,568
Fanatics, Inc. Class A (b)(c)
  
290
13,737
JD Sports Fashion PLC
 
308
4,328
Lithia Motors, Inc. Class A (sub. vtg.)
 
62
19,656
National Vision Holdings, Inc. (a)
  
504
28,612
O'Reilly Automotive, Inc. (a)
  
106
64,772
Pet Center Comercio e Participacoes SA
 
944
4,067
The Home Depot, Inc.
 
1,460
479,260
TJX Companies, Inc.
 
1,124
74,162
Williams-Sonoma, Inc.
 
337
59,760
 
  
  
945,344
Textiles, Apparel & Luxury Goods - 0.9%
  
  
  
Crocs, Inc. (a)
  
36
5,165
Deckers Outdoor Corp. (a)
  
167
60,153
Dr. Martens Ltd. (a)
  
5,663
30,245
lululemon athletica, Inc. (a)
  
100
40,470
LVMH Moet Hennessy Louis Vuitton SE
 
21
15,042
NIKE, Inc. Class B
 
1,485
215,667
On Holding AG
 
520
15,668
Under Armour, Inc. Class A (sub. vtg.) (a)
  
402
8,112
 
  
  
390,522
TOTAL CONSUMER DISCRETIONARY
  
  
5,899,103
CONSUMER STAPLES - 1.9%
 
  
  
Beverages - 0.2%
  
  
  
Anheuser-Busch InBev SA NV
 
80
4,537
Diageo PLC
 
461
22,319
Keurig Dr. Pepper, Inc.
 
367
12,537
PepsiCo, Inc.
 
69
10,378
The Coca-Cola Co.
 
593
31,115
 
  
  
80,886
Food & Staples Retailing - 1.1%
  
  
  
Costco Wholesale Corp.
 
1,106
496,981
Personal Products - 0.6%
  
  
  
Estee Lauder Companies, Inc. Class A
 
813
243,843
L'Oreal SA
 
43
17,794
Olaplex Holdings, Inc.
 
581
12,201
 
  
  
273,838
TOTAL CONSUMER STAPLES
  
  
851,705
ENERGY - 0.1%
 
  
  
Oil, Gas & Consumable Fuels - 0.1%
  
  
  
Canadian Natural Resources Ltd.
 
829
30,310
Cheniere Energy, Inc.
 
153
14,944
Hess Corp.
 
22
1,718
Reliance Industries Ltd.
 
374
12,668
 
  
  
59,640
FINANCIALS - 16.8%
 
  
  
Banks - 5.0%
  
  
  
Bank of America Corp.
 
24,354
1,033,827
JPMorgan Chase & Co.
 
4,758
778,837
Kotak Mahindra Bank Ltd. (a)
  
2,620
70,565
Royal Bank of Canada
 
1,726
171,742
Starling Bank Ltd. Series D (a)(c)
  
6,297
10,982
SVB Financial Group (a)
  
23
14,878
The Toronto-Dominion Bank
 
1,918
126,973
Wells Fargo & Co.
 
1,500
69,615
 
  
  
2,277,419
Capital Markets - 3.8%
  
  
  
BlackRock, Inc. Class A
 
197
165,216
Blackstone, Inc.
 
51
5,933
Brookfield Asset Management, Inc. (Canada) Class A
 
439
23,524
Carlyle Group LP
 
100
4,728
Charles Schwab Corp.
 
123
8,959
Coinbase Global, Inc. (a)
  
95
21,611
Goldman Sachs Group, Inc.
 
1,423
537,937
Moody's Corp.
 
67
23,792
Morgan Stanley
 
8,183
796,288
MSCI, Inc.
 
172
104,634
NASDAQ, Inc.
 
25
4,826
S&P Global, Inc.
 
55
23,369
 
  
  
1,720,817
Consumer Finance - 0.4%
  
  
  
American Express Co.
 
166
27,810
Capital One Financial Corp.
 
833
134,921
 
  
  
162,731
Diversified Financial Services - 5.4%
  
  
  
Berkshire Hathaway, Inc. Class A (a)
  
6
2,468,274
Insurance - 2.2%
  
  
  
Admiral Group PLC
 
2,843
118,790
AIA Group Ltd.
 
1,713
19,707
American International Group, Inc.
 
1,970
108,133
Arthur J. Gallagher & Co.
 
297
44,149
Brookfield Asset Management Reinsurance Partners Ltd.
 
2
111
Chubb Ltd.
 
1,278
221,707
Direct Line Insurance Group PLC
 
644
2,507
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
85
34,313
Hartford Financial Services Group, Inc.
 
538
37,795
Intact Financial Corp.
 
225
29,751
Oscar Health, Inc.
 
955
16,607
Progressive Corp.
 
1,089
98,435
The Travelers Companies, Inc.
 
1,655
251,577
 
  
  
983,582
TOTAL FINANCIALS
  
  
7,612,823
HEALTH CARE - 10.1%
 
  
  
Biotechnology - 1.9%
  
  
  
AbbVie, Inc.
 
1,150
124,051
Alector, Inc. (a)
  
356
8,124
BioNTech SE ADR (a)
  
78
21,293
Blueprint Medicines Corp. (a)
  
45
4,626
Genmab A/S (a)
  
18
7,865
Horizon Therapeutics PLC (a)
  
2,448
268,154
Idorsia Ltd. (a)
  
1,280
30,861
Innovent Biologics, Inc. (a)(d)
  
277
2,668
Intellia Therapeutics, Inc. (a)
  
337
45,209
Moderna, Inc. (a)
  
94
36,177
Regeneron Pharmaceuticals, Inc. (a)
  
486
294,117
Zai Lab Ltd. (a)
  
213
22,825
 
  
  
865,970
Health Care Equipment & Supplies - 2.8%
  
  
  
Abbott Laboratories
 
305
36,030
Alcon, Inc.
 
58
4,667
Align Technology, Inc. (a)
  
103
68,539
Danaher Corp.
 
1,761
536,119
DexCom, Inc. (a)
  
27
14,765
Edwards Lifesciences Corp. (a)
  
942
106,644
Envista Holdings Corp. (a)
  
387
16,180
Hologic, Inc. (a)
  
1,129
83,331
Intuitive Surgical, Inc. (a)
  
207
205,789
Medtronic PLC
 
856
107,300
Sonova Holding AG Class B
 
82
30,988
Stryker Corp.
 
99
26,108
West Pharmaceutical Services, Inc.
 
54
22,925
 
  
  
1,259,385
Health Care Providers & Services - 2.2%
  
  
  
agilon health, Inc.
 
303
7,942
AmerisourceBergen Corp.
 
263
31,415
Cano Health, Inc. (b)
  
1,002
12,705
dentalcorp Holdings Ltd. (a)
  
1,594
20,853
Guardant Health, Inc. (a)
  
34
4,250
HCA Holdings, Inc.
 
497
120,632
Henry Schein, Inc. (a)
  
98
7,464
Molina Healthcare, Inc. (a)
  
17
4,612
Option Care Health, Inc. (a)
  
1,352
32,800
Owens & Minor, Inc.
 
11
344
UnitedHealth Group, Inc.
 
1,911
746,704
 
  
  
989,721
Health Care Technology - 0.1%
  
  
  
Doximity, Inc.
 
188
15,172
GoodRx Holdings, Inc.
 
114
4,676
Medlive Technology Co. Ltd. (d)
  
1,171
5,607
Veeva Systems, Inc. Class A (a)
  
39
11,239
 
  
  
36,694
Life Sciences Tools & Services - 1.5%
  
  
  
23andMe Holding Co. (a)(b)(e)
  
424
3,841
23andMe Holding Co.:
  
  
  
 Class A
 
80
689
 Class B
 
648
5,577
Bio-Rad Laboratories, Inc. Class A (a)
  
102
76,087
Charles River Laboratories International, Inc. (a)
  
56
23,110
Eurofins Scientific SA
 
350
44,844
IQVIA Holdings, Inc. (a)
  
335
80,246
Maravai LifeSciences Holdings, Inc.
 
1,382
67,829
Mettler-Toledo International, Inc. (a)
  
127
174,925
Thermo Fisher Scientific, Inc.
 
292
166,828
Waters Corp. (a)
  
173
61,813
WuXi AppTec Co. Ltd. (H Shares) (d)
  
128
2,980
 
  
  
708,769
Pharmaceuticals - 1.6%
  
  
  
Arvinas Holding Co. LLC (a)
  
60
4,931
AstraZeneca PLC (United Kingdom)
 
82
9,882
Bristol-Myers Squibb Co.
 
793
46,922
Eli Lilly & Co.
 
1,872
432,526
Jazz Pharmaceuticals PLC (a)
  
312
40,626
Pfizer, Inc.
 
513
22,064
Royalty Pharma PLC
 
1,824
65,919
UCB SA
 
173
19,372
Zoetis, Inc. Class A
 
532
103,282
 
  
  
745,524
TOTAL HEALTH CARE
  
  
4,606,063
INDUSTRIALS - 4.0%
 
  
  
Aerospace & Defense - 0.1%
  
  
  
Northrop Grumman Corp.
 
111
39,977
Space Exploration Technologies Corp. Class A (a)(b)(c)
  
20
8,400
 
  
  
48,377
Air Freight & Logistics - 1.1%
  
  
  
Expeditors International of Washington, Inc.
 
123
14,653
GXO Logistics, Inc. (a)
  
35
2,745
United Parcel Service, Inc. Class B
 
2,653
483,111
 
  
  
500,509
Airlines - 0.0%
  
  
  
Joby Aviation, Inc. (a)(b)(e)
  
215
2,163
Building Products - 0.7%
  
  
  
Carrier Global Corp.
 
857
44,358
Fortune Brands Home & Security, Inc.
 
1,354
121,075
Toto Ltd.
 
1,539
73,282
Trane Technologies PLC
 
514
88,742
 
  
  
327,457
Commercial Services & Supplies - 0.3%
  
  
  
Cintas Corp.
 
316
120,289
Clean TeQ Water Pty Ltd.
 
3
1
GFL Environmental, Inc.
 
197
7,319
 
  
  
127,609
Electrical Equipment - 0.1%
  
  
  
Generac Holdings, Inc. (a)
  
53
21,660
Vertiv Holdings Co.
 
312
7,516
 
  
  
29,176
Industrial Conglomerates - 0.7%
  
  
  
General Electric Co.
 
2,888
297,551
Honeywell International, Inc.
 
61
12,949
 
  
  
310,500
Machinery - 0.4%
  
  
  
Deere & Co.
 
197
66,009
Ingersoll Rand, Inc. (a)
  
958
48,293
Kornit Digital Ltd. (a)
  
70
10,132
Nordson Corp.
 
15
3,572
Otis Worldwide Corp.
 
557
45,830
Pentair PLC
 
163
11,839
 
  
  
185,675
Professional Services - 0.2%
  
  
  
Clarivate Analytics PLC (a)
  
172
3,767
Equifax, Inc.
 
227
57,526
Recruit Holdings Co. Ltd.
 
65
3,973
Thomson Reuters Corp.
 
268
29,633
 
  
  
94,899
Road & Rail - 0.4%
  
  
  
Canadian Pacific Railway Ltd.
 
2,250
146,927
J.B. Hunt Transport Services, Inc.
 
129
21,571
XPO Logistics, Inc. (a)
  
35
2,785
 
  
  
171,283
TOTAL INDUSTRIALS
  
  
1,797,648
INFORMATION TECHNOLOGY - 30.3%
 
  
  
Electronic Equipment & Components - 1.6%
  
  
  
Amphenol Corp. Class A
 
8,962
656,287
CDW Corp.
 
213
38,770
Keysight Technologies, Inc. (a)
  
91
14,950
Samsung SDI Co. Ltd.
 
10
5,965
Zebra Technologies Corp. Class A (a)
  
57
29,379
 
  
  
745,351
IT Services - 5.1%
  
  
  
Accenture PLC Class A
 
1,429
457,166
Adyen BV (a)(d)
  
73
204,062
Cloudflare, Inc. (a)
  
2,817
317,335
EPAM Systems, Inc. (a)
  
8
4,564
MasterCard, Inc. Class A
 
745
259,022
MongoDB, Inc. Class A (a)
  
186
87,701
Nuvei Corp. (d)
  
47
5,384
Okta, Inc. (a)
  
134
31,804
PayPal Holdings, Inc. (a)
  
1,143
297,420
Remitly Global, Inc.
 
233
8,551
Shopify, Inc. Class A (a)
  
298
404,490
Snowflake Computing, Inc.
 
61
18,448
Square, Inc.
 
87
20,866
Thoughtworks Holding, Inc.
 
300
8,613
Toast, Inc.
 
200
9,990
Visa, Inc. Class A
 
782
174,191
 
  
  
2,309,607
Semiconductors & Semiconductor Equipment - 8.2%
  
  
  
Advanced Micro Devices, Inc. (a)
  
4,452
458,111
Ambarella, Inc. (a)
  
36
5,607
Analog Devices, Inc.
 
1,124
188,248
Applied Materials, Inc.
 
1,750
225,278
ASML Holding NV
 
49
36,510
Lam Research Corp.
 
235
133,750
Lattice Semiconductor Corp. (a)
  
539
34,846
Marvell Technology, Inc.
 
1,281
77,257
Monolithic Power Systems, Inc.
 
19
9,209
NVIDIA Corp.
 
7,198
1,491,138
ON Semiconductor Corp. (a)
  
412
18,857
Qorvo, Inc. (a)
  
405
67,712
Qualcomm, Inc.
 
4,513
582,087
Semtech Corp. (a)
  
195
15,204
Silergy Corp.
 
35
5,095
SiTime Corp. (a)
  
25
5,104
Skyworks Solutions, Inc.
 
335
55,201
Synaptics, Inc. (a)
  
856
153,849
Texas Instruments, Inc.
 
808
155,306
 
  
  
3,718,369
Software - 14.0%
  
  
  
Adobe, Inc. (a)
  
1,821
1,048,386
Atlassian Corp. PLC (a)
  
978
382,809
Cadence Design Systems, Inc. (a)
  
1,572
238,064
Ceridian HCM Holding, Inc. (a)
  
85
9,573
Clear Secure, Inc.
 
234
9,606
Confluent, Inc.
 
69
4,116
Crowdstrike Holdings, Inc. (a)
  
168
41,291
Datadog, Inc. Class A (a)
  
284
40,143
DocuSign, Inc. (a)
  
161
41,446
Dropbox, Inc. Class A (a)
  
1,543
45,086
Duck Creek Technologies, Inc. (a)
  
257
11,370
Dynatrace, Inc. (a)
  
1,134
80,480
Epic Games, Inc. (a)(b)(c)
  
34
30,090
Fortinet, Inc. (a)
  
53
15,478
HubSpot, Inc. (a)
  
52
35,157
Intuit, Inc.
 
607
327,483
KnowBe4, Inc. (a)
  
600
13,176
Microsoft Corp.
 
7,821
2,204,896
Monday.com Ltd.
 
39
12,722
Palo Alto Networks, Inc. (a)
  
22
10,538
Paycom Software, Inc. (a)
  
20
9,915
Qualtrics International, Inc.
 
198
8,463
Salesforce.com, Inc. (a)
  
5,659
1,534,834
SentinelOne, Inc.
 
285
15,267
ServiceNow, Inc. (a)
  
172
107,030
Stripe, Inc. Class B (a)(b)(c)
  
88
3,531
Tanium, Inc. Class B (a)(b)(c)
  
741
8,314
Workday, Inc. Class A (a)
  
18
4,498
Xero Ltd. (a)
  
191
18,743
Zoom Video Communications, Inc. Class A (a)
  
8
2,092
Zscaler, Inc. (a)
  
96
25,173
 
  
  
6,339,770
Technology Hardware, Storage & Peripherals - 1.4%
  
  
  
Apple, Inc.
 
2,784
393,936
Dell Technologies, Inc. (a)
  
2,395
249,176
 
  
  
643,112
TOTAL INFORMATION TECHNOLOGY
  
  
13,756,209
MATERIALS - 2.2%
 
  
  
Chemicals - 0.7%
  
  
  
Celanese Corp. Class A
 
17
2,561
FMC Corp.
 
19
1,740
Sherwin-Williams Co.
 
1,058
295,954
Westlake Chemical Corp.
 
46
4,192
 
  
  
304,447
Containers & Packaging - 0.0%
  
  
  
Silgan Holdings, Inc.
 
311
11,930
Metals & Mining - 1.5%
  
  
  
ArcelorMittal SA Class A unit
 
898
27,084
B2Gold Corp.
 
4,102
14,023
Barrick Gold Corp. (Canada)
 
1,190
21,487
Cleveland-Cliffs, Inc. (a)
  
1,675
33,182
Franco-Nevada Corp.
 
1,510
196,171
Freeport-McMoRan, Inc.
 
2,603
84,676
Gatos Silver, Inc.
 
891
10,362
Ivanhoe Mines Ltd. (a)
  
19,204
122,811
Novagold Resources, Inc. (a)
  
2,431
16,736
Nucor Corp.
 
885
87,164
Steel Dynamics, Inc.
 
726
42,456
Stelco Holdings, Inc.
 
132
3,869
Sunrise Energy Metals Ltd. (a)
  
7
8
 
  
  
660,029
TOTAL MATERIALS
  
  
976,406
REAL ESTATE - 0.1%
 
  
  
Equity Real Estate Investment Trusts (REITs) - 0.1%
  
  
  
Equity Commonwealth
 
723
18,784
Prologis (REIT), Inc.
 
272
34,117
 
  
  
52,901
UTILITIES - 0.0%
 
  
  
Electric Utilities - 0.0%
  
  
  
Southern Co.
 
73
4,524
 
TOTAL COMMON STOCKS
 (Cost $32,704,116)
  
  
  
44,460,740
 
  
  
  
Convertible Preferred Stocks - 0.4%
 
  
Shares
Value ($)
 
CONSUMER DISCRETIONARY - 0.1%
 
  
  
Automobiles - 0.0%
  
  
  
Rad Power Bikes, Inc.:
  
  
  
 Series A (b)(c)
  
88
843
 Series C (a)(b)(c)
  
343
3,287
 Series D (b)(c)
  
800
7,667
 
  
  
11,797
Internet & Direct Marketing Retail - 0.1%
  
  
  
GoBrands, Inc.:
  
  
  
 Series G (a)(b)(c)
  
9
3,496
 Series H (a)(b)(c)
  
23
8,935
Reddit, Inc.:
  
  
  
 Series E (a)(b)(c)
  
65
4,017
 Series F (b)(c)
  
284
17,550
 
  
  
33,998
Textiles, Apparel & Luxury Goods - 0.0%
  
  
  
Discord, Inc. Series I (a)(b)(c)
  
16
8,810
TOTAL CONSUMER DISCRETIONARY
  
  
54,605
CONSUMER STAPLES - 0.0%
 
  
  
Food Products - 0.0%
  
  
  
Bowery Farming, Inc. Series C1 (b)(c)
  
50
3,012
HEALTH CARE - 0.1%
 
  
  
Biotechnology - 0.0%
  
  
  
ElevateBio LLC Series C (b)(c)
  
1,014
4,254
Health Care Providers & Services - 0.1%
  
  
  
Lyra Health, Inc.:
  
  
  
 Series E (a)(b)(c)
  
600
9,423
 Series F (b)(c)
  
17
267
 
  
  
9,690
TOTAL HEALTH CARE
  
  
13,944
INDUSTRIALS - 0.1%
 
  
  
Aerospace & Defense - 0.1%
  
  
  
Relativity Space, Inc. Series E (a)(b)(c)
  
505
11,532
Space Exploration Technologies Corp. Series N (a)(b)(c)
  
74
31,079
 
  
  
42,611
Air Freight & Logistics - 0.0%
  
  
  
Zipline International, Inc. Series E (a)(b)(c)
  
236
8,496
Transportation Infrastructure - 0.0%
  
  
  
Delhivery Private Ltd. Series H (a)(b)(c)
  
11
5,288
TOTAL INDUSTRIALS
  
  
56,395
INFORMATION TECHNOLOGY - 0.1%
 
  
  
IT Services - 0.1%
  
  
  
ByteDance Ltd. Series E1 (a)(b)(c)
  
117
13,848
Semiconductors & Semiconductor Equipment - 0.0%
  
  
  
Tenstorrent, Inc. Series C1 (b)(c)
  
100
5,945
Software - 0.0%
  
  
  
Nuro, Inc. Series C (b)(c)
  
562
7,337
Stripe, Inc. Series H (a)(b)(c)
  
89
3,571
 
  
  
10,908
TOTAL INFORMATION TECHNOLOGY
  
  
30,701
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $137,332)
  
  
  
158,657
 
  
  
  
Convertible Bonds - 0.0%
 
  
Principal
Amount (f)
 
Value ($)
 
CONSUMER DISCRETIONARY - 0.0%
 
  
  
Automobiles - 0.0%
  
  
  
Rivian Automotive, Inc. 0% (b)(c)(g)
 
  (Cost $13,561)
 
  
13,561
13,561
 
  
  
  
Preferred Securities - 0.0%
 
  
Principal
Amount (f)
 
Value ($)
 
CONSUMER DISCRETIONARY - 0.0%
 
  
  
Internet & Direct Marketing Retail - 0.0%
  
  
  
Circle Internet Financial Ltd. 0% (b)(g)
  
3,800
4,332
INFORMATION TECHNOLOGY - 0.0%
 
  
  
Semiconductors & Semiconductor Equipment - 0.0%
  
  
  
Tenstorrent, Inc. 0% (b)(c)(g)
  
4,994
4,994
 
TOTAL PREFERRED SECURITIES
 (Cost $8,794)
  
  
  
9,326
 
  
  
  
Money Market Funds - 1.6%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 0.06% (h)
 
 (Cost $709,831)
 
  
709,689
709,831
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $33,573,634)
 
  
 
45,352,115
NET OTHER ASSETS (LIABILITIES) - 0.0%  
22,043
NET ASSETS - 100.0%
45,374,158
 
  
Legend
 
(a)
Non-income producing
 
(b)
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 $283,426 or 0.6% of net assets.
 
(c)
Level 3 security
 
(d)
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 $314,885 or 0.7% of net assets.
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
Security is perpetual in nature with no stated maturity date.
 
(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.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
23andMe Holding Co.
2/03/21
4,240
Bowery Farming, Inc. Series C1
5/18/21
3,012
ByteDance Ltd. Series E1
11/18/20
12,820
Cano Health, Inc.
11/11/20
10,020
Cazoo Group Ltd.
3/28/21
2,980
Circle Internet Financial Ltd. 0%
5/11/21
3,800
Delhivery Private Ltd. Series H
5/20/21
5,369
Discord, Inc. Series I
9/15/21
8,810
ElevateBio LLC Series C
3/09/21
4,254
Epic Games, Inc.
7/30/20
19,550
Fanatics, Inc. Class A
8/13/20
5,014
GoBrands, Inc. Series G
3/02/21
2,247
GoBrands, Inc. Series H
7/22/21
8,935
Joby Aviation, Inc.
2/23/21
2,150
Lyra Health, Inc. Series E
1/14/21
5,494
Lyra Health, Inc. Series F
6/04/21
267
Nuro, Inc. Series C
10/30/20
7,337
Rad Power Bikes, Inc.
1/21/21
3,227
Rad Power Bikes, Inc. Series A
1/21/21
425
Rad Power Bikes, Inc. Series C
1/21/21
1,655
Rad Power Bikes, Inc. Series D
9/17/21
7,667
Reddit, Inc. Series E
5/18/21
2,761
Reddit, Inc. Series F
8/11/21
17,550
Relativity Space, Inc. Series E
5/27/21
11,532
Rivian Automotive, Inc. 0%
7/23/21
13,561
Space Exploration Technologies Corp. Class A
2/16/21
8,400
Space Exploration Technologies Corp. Series N
8/04/20
19,980
Stripe, Inc. Class B
5/18/21
3,531
Stripe, Inc. Series H
3/15/21
3,571
Tanium, Inc. Class B
4/21/17 - 9/18/20
7,800
Tenstorrent, Inc. Series C1
4/23/21
5,945
Tenstorrent, Inc. 0%
4/23/21
4,994
Zipline International, Inc. Series E
12/21/20
7,701
Zomato Ltd.
12/09/20
4,073
 
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
%ownership,
end
of period
Fidelity Cash Central Fund 0.06%
511,713
30,842,956
30,644,838
341
-
-
709,831
0.0%
Fidelity Securities Lending Cash Central Fund 0.06%
-
238,642
238,642
60
-
-
-
0.0%
Total
511,713
31,081,598
30,883,480
401
-
-
709,831
  
 
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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
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)
 
Valuation techniques used to value 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 any 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. Convertible Bonds and 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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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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