NPORT-EX 2 QTLY_22_20220930.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Contrafund®
September 30, 2022
CON-NPRT3-1122
1.807733.118
Common Stocks - 95.3%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 14.1%
 
 
 
Entertainment - 1.4%
 
 
 
Activision Blizzard, Inc.
 
1,717,451
127,675
Netflix, Inc. (a)
 
3,777,298
889,327
The Walt Disney Co. (a)
 
1,175,680
110,902
Universal Music Group NV
 
7,088,638
132,771
Warner Music Group Corp. Class A
 
161,060
3,738
 
 
 
1,264,413
Interactive Media & Services - 12.3%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (a)
 
29,862,160
2,856,316
 Class C (a)
 
26,745,460
2,571,576
Bumble, Inc. (a)
 
3,174,278
68,215
Meta Platforms, Inc. Class A (a)
 
41,728,146
5,661,675
Pinterest, Inc. Class A (a)
 
1,228,070
28,614
Zoominfo Technologies, Inc. (a)
 
998
42
 
 
 
11,186,438
Media - 0.2%
 
 
 
Liberty Media Corp. Liberty Formula One Group Series C (a)
 
3,242,285
189,674
Wireless Telecommunication Services - 0.2%
 
 
 
T-Mobile U.S., Inc. (a)
 
1,294,225
173,646
TOTAL COMMUNICATION SERVICES
 
 
12,814,171
CONSUMER DISCRETIONARY - 12.1%
 
 
 
Automobiles - 0.6%
 
 
 
General Motors Co.
 
3,250,928
104,322
Hyundai Motor Co.
 
651,600
78,896
Rad Power Bikes, Inc. (a)(b)(c)
 
2,588,458
11,286
Rivian Automotive, Inc.
 
355,455
11,698
Tesla, Inc. (a)
 
616,854
163,621
Toyota Motor Corp.
 
11,903,524
155,584
 
 
 
525,407
Diversified Consumer Services - 0.0%
 
 
 
Duolingo, Inc. (a)
 
10,936
1,041
Hotels, Restaurants & Leisure - 0.7%
 
 
 
Airbnb, Inc. Class A (a)
 
3,118,410
327,558
Chipotle Mexican Grill, Inc. (a)
 
37,245
55,970
Evolution AB (d)
 
115,800
9,154
Hilton Worldwide Holdings, Inc.
 
1,041,705
125,650
Hyatt Hotels Corp. Class A (a)
 
102,346
8,286
McDonald's Corp.
 
320,526
73,958
Starbucks Corp.
 
105,800
8,915
 
 
 
609,491
Household Durables - 0.1%
 
 
 
Lennar Corp. Class A
 
1,222,233
91,117
Internet & Direct Marketing Retail - 7.7%
 
 
 
Alibaba Group Holding Ltd. sponsored ADR (a)
 
119,700
9,575
Amazon.com, Inc. (a)
 
59,269,760
6,697,483
Cazoo Group Ltd. Class A (a)
 
7,129,465
3,280
Coupang, Inc. Class A (a)(e)
 
11,913,085
198,591
Deliveroo PLC Class A (a)(d)
 
42,226,807
39,696
Doordash, Inc. (a)
 
121,830
6,024
Global-e Online Ltd. (a)
 
210,260
5,627
MercadoLibre, Inc. (a)
 
24,770
20,504
Wayfair LLC Class A (a)
 
67,999
2,213
 
 
 
6,982,993
Multiline Retail - 0.2%
 
 
 
Dollar Tree, Inc. (a)
 
1,278,769
174,040
Dollarama, Inc.
 
397,256
22,806
Kohl's Corp.
 
331,403
8,335
 
 
 
205,181
Specialty Retail - 2.4%
 
 
 
Academy Sports & Outdoors, Inc.
 
3,750,182
158,183
AutoZone, Inc. (a)
 
117,744
252,199
Dick's Sporting Goods, Inc. (e)
 
2,306,608
241,363
Fanatics, Inc. Class A (b)(c)
 
2,461,391
185,958
National Vision Holdings, Inc. (a)(e)
 
1,550,082
50,610
O'Reilly Automotive, Inc. (a)
 
413,772
291,027
The Home Depot, Inc.
 
2,118,201
584,496
TJX Companies, Inc.
 
431,392
26,798
Ulta Beauty, Inc. (a)
 
448,712
180,019
Williams-Sonoma, Inc.
 
1,773,076
208,957
 
 
 
2,179,610
Textiles, Apparel & Luxury Goods - 0.4%
 
 
 
Deckers Outdoor Corp. (a)
 
116,427
36,396
Dr. Martens Ltd.
 
15,548,650
38,096
lululemon athletica, Inc. (a)
 
91,158
25,484
LVMH Moet Hennessy Louis Vuitton SE
 
15,268
9,002
NIKE, Inc. Class B
 
2,068,393
171,925
On Holding AG
 
8,277,204
132,849
 
 
 
413,752
TOTAL CONSUMER DISCRETIONARY
 
 
11,008,592
CONSUMER STAPLES - 3.4%
 
 
 
Beverages - 1.3%
 
 
 
Anheuser-Busch InBev SA NV
 
832,016
37,688
Constellation Brands, Inc. Class A (sub. vtg.)
 
241,634
55,498
Diageo PLC
 
2,199,354
92,579
Keurig Dr. Pepper, Inc.
 
1,112,945
39,866
PepsiCo, Inc.
 
2,324,072
379,428
The Coca-Cola Co.
 
9,777,753
547,750
The Vita Coco Co., Inc. (e)
 
43,089
491
 
 
 
1,153,300
Food & Staples Retailing - 1.4%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
993,371
39,991
Costco Wholesale Corp.
 
2,644,016
1,248,689
Walmart, Inc.
 
994
129
 
 
 
1,288,809
Food Products - 0.1%
 
 
 
General Mills, Inc.
 
233,300
17,873
Mondelez International, Inc.
 
978,362
53,644
Nestle SA (Reg. S)
 
183,771
19,876
 
 
 
91,393
Household Products - 0.0%
 
 
 
Procter & Gamble Co.
 
52,380
6,613
Personal Products - 0.6%
 
 
 
Estee Lauder Companies, Inc. Class A
 
1,945,593
420,054
L'Oreal SA (a)
 
187,900
60,080
L'Oreal SA (a)
 
187,200
59,856
Olaplex Holdings, Inc.
 
2,567,963
24,524
 
 
 
564,514
TOTAL CONSUMER STAPLES
 
 
3,104,629
ENERGY - 5.2%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
Halliburton Co.
 
580,833
14,300
Oil, Gas & Consumable Fuels - 5.2%
 
 
 
Antero Resources Corp. (a)
 
320,885
9,797
Birchcliff Energy Ltd.
 
422,717
3,002
Canadian Natural Resources Ltd. (e)
 
5,604,149
260,866
Cenovus Energy, Inc. (Canada)
 
1,957,221
30,066
Cheniere Energy, Inc.
 
1,872,175
310,613
Chevron Corp.
 
3,387,199
486,639
ConocoPhillips Co.
 
7,180,135
734,815
Continental Resources, Inc.
 
1,282,987
85,716
Devon Energy Corp.
 
3,955,776
237,861
Diamondback Energy, Inc.
 
1,229,309
148,083
EOG Resources, Inc.
 
2,988,373
333,891
EQT Corp.
 
439,775
17,921
Equinor ASA
 
254,565
8,395
Exxon Mobil Corp.
 
8,287,708
723,600
Hess Corp.
 
2,254,502
245,718
Occidental Petroleum Corp.
 
5,814,552
357,304
Phillips 66 Co.
 
609,221
49,176
Pioneer Natural Resources Co.
 
1,344,953
291,223
Reliance Industries Ltd.
 
1,531,739
44,676
Suncor Energy, Inc.
 
1,790,335
50,417
Tourmaline Oil Corp.
 
275,095
14,297
Valero Energy Corp.
 
1,883,479
201,250
 
 
 
4,645,326
TOTAL ENERGY
 
 
4,659,626
FINANCIALS - 14.3%
 
 
 
Banks - 2.7%
 
 
 
Banco Santander SA (Spain)
 
7,830,495
18,221
Bank of America Corp.
 
29,671,394
896,076
Citigroup, Inc.
 
547,407
22,810
JPMorgan Chase & Co.
 
5,118,154
534,847
Nu Holdings Ltd. (e)
 
2,693,178
11,850
Royal Bank of Canada (e)
 
4,556,197
410,218
Starling Bank Ltd. Series D (a)(b)(c)
 
26,724,113
68,629
The Toronto-Dominion Bank
 
5,166,666
316,878
Wells Fargo & Co.
 
4,945,109
198,892
 
 
 
2,478,421
Capital Markets - 0.9%
 
 
 
BlackRock, Inc. Class A
 
7,423
4,085
Blackstone, Inc.
 
99,678
8,343
Brookfield Asset Management, Inc. (Canada) Class A
 
1,135,166
46,439
Charles Schwab Corp.
 
2,036,264
146,346
Coinbase Global, Inc. (a)
 
998
64
Goldman Sachs Group, Inc.
 
50,011
14,656
Morgan Stanley
 
6,835,356
540,061
MSCI, Inc.
 
47,111
19,871
 
 
 
779,865
Consumer Finance - 0.0%
 
 
 
American Express Co.
 
260,272
35,113
Diversified Financial Services - 8.5%
 
 
 
Berkshire Hathaway, Inc. Class A (a)(e)
 
18,936
7,696,916
Rapyd Financial Network 2016 Ltd. (a)(b)(c)
 
340,545
22,687
 
 
 
7,719,603
Insurance - 2.2%
 
 
 
Admiral Group PLC
 
1,558,983
33,118
American International Group, Inc.
 
6,845,398
325,019
Aon PLC
 
78,708
21,084
Arthur J. Gallagher & Co.
 
805,045
137,840
Brookfield Asset Management Reinsurance Partners Ltd.
 
7,608
311
Chubb Ltd.
 
2,225,319
404,741
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
143,873
65,710
Hartford Financial Services Group, Inc.
 
1,240,564
76,841
Intact Financial Corp.
 
688,238
97,400
Marsh & McLennan Companies, Inc.
 
585,761
87,448
Progressive Corp.
 
3,577,376
415,727
The Travelers Companies, Inc.
 
1,959,805
300,242
W.R. Berkley Corp.
 
272,835
17,620
 
 
 
1,983,101
TOTAL FINANCIALS
 
 
12,996,103
HEALTH CARE - 16.3%
 
 
 
Biotechnology - 3.5%
 
 
 
AbbVie, Inc.
 
1,985,623
266,490
Alnylam Pharmaceuticals, Inc. (a)
 
143,101
28,643
Argenx SE ADR (a)
 
216,332
76,376
Biohaven Pharmaceutical Holding Co. Ltd. (a)
 
49,204
7,438
BioMarin Pharmaceutical, Inc. (a)
 
111,665
9,466
Galapagos NV sponsored ADR (a)
 
1,185,473
50,549
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(c)
 
105,983
0
Intellia Therapeutics, Inc. (a)
 
375,152
20,994
Legend Biotech Corp. ADR (a)
 
621,590
25,361
Neurocrine Biosciences, Inc. (a)
 
20,600
2,188
Regeneron Pharmaceuticals, Inc. (a)
 
2,485,282
1,712,036
United Therapeutics Corp. (a)
 
482,876
101,105
Vertex Pharmaceuticals, Inc. (a)
 
2,964,078
858,219
Verve Therapeutics, Inc. (a)
 
55,077
1,892
Zai Lab Ltd. (a)
 
3,634,160
12,372
 
 
 
3,173,129
Health Care Equipment & Supplies - 0.3%
 
 
 
DexCom, Inc. (a)
 
998
80
Edwards Lifesciences Corp. (a)
 
1,174,491
97,048
Figs, Inc. Class A (a)
 
142,407
1,175
Intuitive Surgical, Inc. (a)
 
603,421
113,105
Straumann Holding AG
 
181,571
16,607
 
 
 
228,015
Health Care Providers & Services - 7.0%
 
 
 
23andMe Holding Co. Class B (d)
 
11,320,291
32,376
AmerisourceBergen Corp.
 
638,182
86,365
Cardinal Health, Inc.
 
844,005
56,278
Centene Corp. (a)
 
874,040
68,009
Cigna Corp.
 
659,542
183,003
dentalcorp Holdings Ltd. (a)
 
755,323
4,347
Elevance Health, Inc.
 
761,769
346,026
Guardant Health, Inc. (a)
 
108,535
5,842
HCA Holdings, Inc.
 
550,895
101,249
Molina Healthcare, Inc. (a)
 
157,374
51,908
Option Care Health, Inc. (a)
 
1,813,798
57,080
P3 Health Partners, Inc. (a)(b)(f)
 
2,735,364
12,006
UnitedHealth Group, Inc.
 
10,560,113
5,333,279
 
 
 
6,337,768
Life Sciences Tools & Services - 1.1%
 
 
 
Danaher Corp.
 
2,246,321
580,202
Mettler-Toledo International, Inc. (a)
 
147,816
160,250
Thermo Fisher Scientific, Inc.
 
384,843
195,189
Veterinary Emergency Group LLC Class A (b)(c)(g)
 
1,029,105
65,369
Waters Corp. (a)
 
72,623
19,574
 
 
 
1,020,584
Pharmaceuticals - 4.4%
 
 
 
AstraZeneca PLC sponsored ADR
 
991,574
54,378
Bristol-Myers Squibb Co.
 
6,212,642
441,657
Eli Lilly & Co.
 
6,709,733
2,169,592
Intra-Cellular Therapies, Inc. (a)
 
440,084
20,477
Johnson & Johnson
 
2,200,519
359,477
Merck & Co., Inc.
 
4,519,486
389,218
Nuvation Bio, Inc. (a)
 
10,447,918
23,403
Pfizer, Inc.
 
4,403,567
192,700
Roche Holding AG (participation certificate)
 
275,026
89,530
Royalty Pharma PLC
 
6,308,061
253,458
Zoetis, Inc. Class A
 
51,776
7,678
 
 
 
4,001,568
TOTAL HEALTH CARE
 
 
14,761,064
INDUSTRIALS - 4.0%
 
 
 
Aerospace & Defense - 1.3%
 
 
 
Lockheed Martin Corp.
 
895,652
345,981
Northrop Grumman Corp.
 
1,125,450
529,322
Space Exploration Technologies Corp.:
 
 
 
 Class A (a)(b)(c)
 
3,585,070
250,955
 Class C (a)(b)(c)
 
129,910
9,094
 
 
 
1,135,352
Air Freight & Logistics - 1.0%
 
 
 
C.H. Robinson Worldwide, Inc. (e)
 
102,294
9,852
Delhivery Private Ltd. (b)
 
5,594,700
38,003
United Parcel Service, Inc. Class B
 
5,234,642
845,604
Zipline International, Inc. (b)(c)
 
515,816
12,988
 
 
 
906,447
Building Products - 0.1%
 
 
 
Carlisle Companies, Inc.
 
133,668
37,482
Fortune Brands Home & Security, Inc.
 
155,955
8,373
Toto Ltd.
 
2,606,172
86,794
 
 
 
132,649
Commercial Services & Supplies - 0.2%
 
 
 
Aurora Innovation, Inc. (a)(e)
 
6,077,254
13,431
Cintas Corp.
 
126,566
49,132
Clean Harbors, Inc. (a)
 
287,600
31,630
Clean TeQ Water Pty Ltd. (a)(e)
 
2,125,667
666
GFL Environmental, Inc. (e)
 
254,675
6,441
TulCo LLC (a)(b)(c)(g)
 
140,771
86,929
ZenPayroll, Inc. (b)(c)
 
289,200
9,026
 
 
 
197,255
Electrical Equipment - 0.0%
 
 
 
Hubbell, Inc. Class B
 
65,769
14,666
SES AI Corp. Class A (a)(e)
 
9,020
44
 
 
 
14,710
Industrial Conglomerates - 0.4%
 
 
 
General Electric Co.
 
5,512,399
341,273
Machinery - 0.4%
 
 
 
Deere & Co.
 
708,367
236,517
Fortive Corp.
 
312,067
18,194
PACCAR, Inc.
 
1,432,478
119,884
 
 
 
374,595
Road & Rail - 0.5%
 
 
 
Canadian Pacific Railway Ltd.
 
2,141,965
142,984
J.B. Hunt Transport Services, Inc.
 
846,432
132,399
Old Dominion Freight Lines, Inc.
 
361,754
89,994
Union Pacific Corp.
 
483,174
94,132
 
 
 
459,509
Trading Companies & Distributors - 0.1%
 
 
 
W.W. Grainger, Inc.
 
138,972
67,984
TOTAL INDUSTRIALS
 
 
3,629,774
INFORMATION TECHNOLOGY - 22.3%
 
 
 
Communications Equipment - 0.1%
 
 
 
Arista Networks, Inc. (a)
 
1,058,645
119,510
Electronic Equipment & Components - 1.6%
 
 
 
Amphenol Corp. Class A
 
21,213,524
1,420,458
CDW Corp.
 
265,979
41,514
 
 
 
1,461,972
IT Services - 2.6%
 
 
 
Accenture PLC Class A
 
3,413,872
878,389
Adyen BV (a)(d)
 
32,907
41,040
Affirm Holdings, Inc. (a)(e)
 
429,925
8,065
ASAC II LP (a)(b)(c)
 
39,494,500
6,635
Cloudflare, Inc. (a)
 
1,231,499
68,114
Cognizant Technology Solutions Corp. Class A
 
1,049,059
60,258
MasterCard, Inc. Class A
 
353,153
100,416
MongoDB, Inc. Class A (a)
 
339,188
67,349
Okta, Inc. (a)
 
984
56
PayPal Holdings, Inc. (a)
 
100,700
8,667
Shopify, Inc. Class A (a)
 
117,512
3,164
Snowflake, Inc. (a)
 
44,246
7,520
Visa, Inc. Class A (e)
 
6,401,788
1,137,278
 
 
 
2,386,951
Semiconductors & Semiconductor Equipment - 4.5%
 
 
 
Advanced Micro Devices, Inc. (a)
 
7,465,277
473,000
Analog Devices, Inc.
 
1,432,707
199,633
Enphase Energy, Inc. (a)
 
370,310
102,750
Lattice Semiconductor Corp. (a)
 
590,462
29,057
Marvell Technology, Inc.
 
3,156,020
135,425
Monolithic Power Systems, Inc.
 
149,256
54,240
NVIDIA Corp.
 
11,918,175
1,446,747
onsemi (a)
 
4,922,912
306,845
Qualcomm, Inc.
 
9,696,282
1,095,486
Skyworks Solutions, Inc.
 
196,366
16,744
SolarEdge Technologies, Inc. (a)
 
32,033
7,414
Synaptics, Inc. (a)(f)
 
2,045,821
202,557
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
135,200
9,269
 
 
 
4,079,167
Software - 8.9%
 
 
 
Adobe, Inc. (a)
 
2,134,853
587,512
Aspen Technology, Inc. (a)
 
59,232
14,109
Atlassian Corp. PLC (a)
 
901,084
189,759
Bill.Com Holdings, Inc. (a)
 
992
131
Cadence Design Systems, Inc. (a)
 
1,278,406
208,930
Check Point Software Technologies Ltd. (a)
 
422,163
47,291
Clear Secure, Inc. (a)(e)
 
1,262,422
28,859
Epic Games, Inc. (a)(b)(c)
 
123,700
106,334
Fortinet, Inc. (a)
 
695,943
34,192
Intuit, Inc.
 
88,251
34,181
Microsoft Corp.
 
24,371,822
5,676,197
Salesforce.com, Inc. (a)
 
7,064,222
1,016,118
Stripe, Inc. Class B (a)(b)(c)
 
455,600
10,848
Synopsys, Inc. (a)
 
88,414
27,011
Tanium, Inc. Class B (a)(b)(c)
 
6,742,751
59,471
 
 
 
8,040,943
Technology Hardware, Storage & Peripherals - 4.6%
 
 
 
Apple, Inc.
 
29,561,927
4,085,458
Dell Technologies, Inc.
 
1,752,248
59,874
Pure Storage, Inc. Class A (a)
 
243,790
6,673
 
 
 
4,152,005
TOTAL INFORMATION TECHNOLOGY
 
 
20,240,548
MATERIALS - 2.9%
 
 
 
Chemicals - 0.7%
 
 
 
Air Products & Chemicals, Inc.
 
40,016
9,313
Albemarle Corp.
 
375,083
99,187
CF Industries Holdings, Inc.
 
2,254,825
217,027
Corteva, Inc.
 
1,505,173
86,021
LG Chemical Ltd.
 
21,010
7,697
Nutrien Ltd.
 
1,264,697
105,450
Sherwin-Williams Co.
 
43,684
8,944
The Mosaic Co.
 
759,501
36,707
Westlake Corp.
 
673,843
58,543
 
 
 
628,889
Metals & Mining - 2.2%
 
 
 
B2Gold Corp.
 
43,087,822
138,495
Barrick Gold Corp. (Canada)
 
5,496,988
85,200
Cleveland-Cliffs, Inc. (a)
 
4,027,120
54,245
Franco-Nevada Corp.
 
3,996,965
477,431
Freeport-McMoRan, Inc.
 
11,125,372
304,056
Glencore PLC
 
3,779,785
19,863
Ivanhoe Electric, Inc. (a)(f)
 
665,321
5,489
Ivanhoe Electric, Inc. (f)
 
4,718,028
36,978
Ivanhoe Mines Ltd. (a)
 
40,527,874
260,827
Ivanhoe Mines Ltd. (a)(d)
 
11,924,516
76,743
Novagold Resources, Inc. (a)
 
7,056,217
33,305
Nucor Corp.
 
3,249,626
347,677
POSCO sponsored ADR
 
98,765
3,616
Steel Dynamics, Inc.
 
2,092,943
148,494
Sunrise Energy Metals Ltd. (a)
 
4,251,337
6,526
 
 
 
1,998,945
TOTAL MATERIALS
 
 
2,627,834
REAL ESTATE - 0.2%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.2%
 
 
 
Equity Commonwealth (a)
 
2,112,126
51,451
Prologis (REIT), Inc.
 
1,125,595
114,360
Welltower Op
 
488,699
31,433
 
 
 
197,244
UTILITIES - 0.5%
 
 
 
Electric Utilities - 0.5%
 
 
 
Constellation Energy Corp.
 
1,585,872
131,929
Exelon Corp.
 
385,978
14,459
NextEra Energy, Inc.
 
892,924
70,014
NRG Energy, Inc.
 
790,931
30,269
PG&E Corp. (a)
 
6,085,644
76,071
Southern Co.
 
1,551,956
105,533
 
 
 
428,275
Multi-Utilities - 0.0%
 
 
 
Sempra Energy
 
114,000
17,093
TOTAL UTILITIES
 
 
445,368
 
TOTAL COMMON STOCKS
 (Cost $42,211,859)
 
 
 
86,484,953
 
 
 
 
Preferred Stocks - 1.8%
 
 
Shares
Value ($)
(000s)
 
Convertible Preferred Stocks - 1.6%
 
 
 
COMMUNICATION SERVICES - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
Reddit, Inc.:
 
 
 
  Series E(a)(b)(c)
 
165,300
6,548
  Series F(a)(b)(c)
 
878,650
34,803
 
 
 
41,351
CONSUMER DISCRETIONARY - 0.1%
 
 
 
Automobiles - 0.0%
 
 
 
Rad Power Bikes, Inc.:
 
 
 
  Series A(a)(b)(c)
 
337,463
1,471
  Series C(a)(b)(c)
 
1,327,879
5,790
  Series D(b)(c)
 
2,329,100
10,155
 
 
 
17,416
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Discord, Inc. Series I (b)(c)
 
15,500
5,792
 
 
 
 
Internet & Direct Marketing Retail - 0.1%
 
 
 
Circle Internet Financial Ltd. Series F (b)
 
637,828
31,057
GoBrands, Inc.:
 
 
 
  Series G(a)(b)(c)
 
55,517
10,935
  Series H(a)(b)(c)
 
69,898
13,768
 
 
 
55,760
TOTAL CONSUMER DISCRETIONARY
 
 
78,968
 
 
 
 
CONSUMER STAPLES - 0.0%
 
 
 
Food Products - 0.0%
 
 
 
Bowery Farming, Inc. Series C1 (a)(b)(c)
 
226,491
6,376
 
 
 
 
FINANCIALS - 0.0%
 
 
 
Thrifts & Mortgage Finance - 0.0%
 
 
 
Acrisure Holdings, Inc. Series B (a)(b)(c)
 
379,681
8,626
 
 
 
 
HEALTH CARE - 0.1%
 
 
 
Biotechnology - 0.0%
 
 
 
ElevateBio LLC Series C (a)(b)(c)
 
3,224,900
14,747
Intarcia Therapeutics, Inc. Series CC (a)(b)(c)
 
2,100,446
0
 
 
 
14,747
Health Care Providers & Services - 0.1%
 
 
 
Get Heal, Inc. Series B (a)(b)(c)
 
35,877,127
969
Lyra Health, Inc.:
 
 
 
  Series E(a)(b)(c)
 
1,478,100
21,654
  Series F(a)(b)(c)
 
69,520
1,018
Somatus, Inc. Series E (b)(c)
 
15,253
14,109
 
 
 
37,750
TOTAL HEALTH CARE
 
 
52,497
 
 
 
 
INDUSTRIALS - 1.1%
 
 
 
Aerospace & Defense - 0.9%
 
 
 
Relativity Space, Inc.:
 
 
 
  Series D(a)(b)(c)
 
1,673,085
28,409
  Series E(a)(b)(c)
 
436,722
8,507
Space Exploration Technologies Corp.:
 
 
 
  Series G(a)(b)(c)
 
558,215
390,751
  Series H(a)(b)(c)
 
120,282
84,197
  Series N(a)(b)(c)
 
428,458
299,921
 
 
 
811,785
Air Freight & Logistics - 0.1%
 
 
 
Zipline International, Inc. Series E (a)(b)(c)
 
1,317,166
33,166
 
 
 
 
Commercial Services & Supplies - 0.1%
 
 
 
ZenPayroll, Inc.:
 
 
 
  Series D(a)(b)(c)
 
2,436,137
76,032
  Series E(a)(b)(c)
 
167,099
5,215
 
 
 
81,247
Construction & Engineering - 0.0%
 
 
 
Beta Technologies, Inc. Series B, 6.00% (b)(c)
 
259,581
22,820
 
 
 
 
TOTAL INDUSTRIALS
 
 
949,018
 
 
 
 
INFORMATION TECHNOLOGY - 0.2%
 
 
 
IT Services - 0.1%
 
 
 
ByteDance Ltd. Series E1 (a)(b)(c)
 
653,587
109,018
 
 
 
 
Software - 0.1%
 
 
 
ASAPP, Inc. Series C (a)(b)(c)
 
1,300,504
4,812
Carbon, Inc.:
 
 
 
  Series D(a)(b)(c)
 
915,425
10,674
  Series E(a)(b)(c)
 
81,735
1,132
Delphix Corp. Series D (a)(b)(c)
 
3,712,687
25,692
Nuro, Inc.:
 
 
 
  Series C(a)(b)(c)
 
3,293,118
46,598
  Series D(b)(c)
 
643,113
9,100
Stripe, Inc. Series H (a)(b)(c)
 
190,300
4,531
Tenstorrent, Inc. Series C1 (a)(b)(c)
 
200,200
8,759
 
 
 
111,298
TOTAL INFORMATION TECHNOLOGY
 
 
220,316
 
 
 
 
MATERIALS - 0.1%
 
 
 
Metals & Mining - 0.1%
 
 
 
High Power Exploration, Inc. Series A (a)(b)(c)
 
14,154,085
69,072
 
 
 
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 
 
1,426,224
Nonconvertible Preferred Stocks - 0.2%
 
 
 
CONSUMER DISCRETIONARY - 0.1%
 
 
 
Internet & Direct Marketing Retail - 0.1%
 
 
 
Circle Internet Financial Ltd. Series E (b)
 
1,059,433
51,586
 
 
 
 
ENERGY - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Petroleo Brasileiro SA - Petrobras sponsored ADR
 
9,755,696
120,385
 
 
 
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 
 
171,971
 
TOTAL PREFERRED STOCKS
 (Cost $1,025,593)
 
 
 
1,598,195
 
 
 
 
Preferred Securities - 0.0%
 
 
Principal
Amount (h)
(000s)
 
Value ($)
(000s)
 
HEALTH CARE - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
Intarcia Therapeutics, Inc. 6% 7/18/23 (b)(c)(i)
 
9,273
0
INFORMATION TECHNOLOGY - 0.0%
 
 
 
Software - 0.0%
 
 
 
Tenstorrent, Inc. 0% (b)(c)(j)
 
11,130
11,130
 
TOTAL PREFERRED SECURITIES
 (Cost $20,403)
 
 
 
11,130
 
 
 
 
Money Market Funds - 3.8%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 3.10% (k)
 
2,538,448,428
2,538,956
Fidelity Securities Lending Cash Central Fund 3.10% (k)(l)
 
867,910,827
867,998
 
TOTAL MONEY MARKET FUNDS
 (Cost $3,406,952)
 
 
3,406,954
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.9%
 (Cost $46,664,807)
 
 
 
91,501,232
NET OTHER ASSETS (LIABILITIES) - (0.9)%  
(774,214)
NET ASSETS - 100.0%
90,727,018
 
 
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
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 $2,445,158,000 or 2.7% 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 $199,009,000 or 0.2% of net assets.
 
(e)
Security or a portion of the security is on loan at period end.
 
(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)
Amount is stated in United States dollars unless otherwise noted.
 
(i)
Non-income producing - Security is in default.
 
(j)
Security is perpetual in nature with no stated maturity date.
 
(k)
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.
 
(l)
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)
Acrisure Holdings, Inc. Series B
3/22/21
6,918
ASAC II LP
10/10/13
3,041
ASAPP, Inc. Series C
4/30/21
8,580
Beta Technologies, Inc. Series B, 6.00%
4/04/22
26,781
Bowery Farming, Inc. Series C1
5/18/21
13,646
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
Circle Internet Financial Ltd. Series E
5/11/21
17,195
Circle Internet Financial Ltd. Series F
5/09/22
26,878
Delhivery Private Ltd.
5/20/21
27,309
Delphix Corp. Series D
7/10/15
33,414
Discord, Inc. Series I
9/15/21
8,535
ElevateBio LLC Series C
3/09/21
13,528
Epic Games, Inc.
7/13/20 - 7/30/20
71,128
Fanatics, Inc. Class A
8/13/20 - 12/15/21
82,369
Get Heal, Inc. Series B
11/07/16
10,944
GoBrands, Inc. Series G
3/02/21
13,864
GoBrands, Inc. Series H
7/22/21
27,155
High Power Exploration, Inc. Series A
11/15/19 - 3/04/21
74,592
Intarcia Therapeutics, Inc. Series CC
11/14/12
28,629
Intarcia Therapeutics, Inc. 6% 7/18/23
1/03/20
9,273
Lyra Health, Inc. Series E
1/14/21
13,534
Lyra Health, Inc. Series F
6/04/21
1,092
Nuro, Inc. Series C
10/30/20
42,990
Nuro, Inc. Series D
10/29/21
13,406
P3 Health Partners, Inc.
5/25/21
27,354
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
Rad Power Bikes, Inc. Series D
9/17/21
22,322
Rapyd Financial Network 2016 Ltd.
3/30/21
25,000
Reddit, Inc. Series E
5/18/21
7,021
Reddit, Inc. Series F
8/11/21
54,296
Relativity Space, Inc. Series D
11/20/20
24,974
Relativity Space, Inc. Series E
5/27/21
9,973
Somatus, Inc. Series E
1/31/22
13,310
Space Exploration Technologies Corp. Class A
10/16/15 - 5/24/22
60,159
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
8/04/17
16,238
Space Exploration Technologies Corp. Series N
8/04/20
115,684
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
52,246
Stripe, Inc. Class B
5/18/21
18,282
Stripe, Inc. Series H
3/15/21
7,636
Tanium, Inc. Class B
4/21/17 - 9/18/20
57,901
Tenstorrent, Inc. Series C1
4/23/21
11,903
Tenstorrent, Inc. 0%
4/23/21
11,130
TulCo LLC
8/24/17 - 9/07/18
50,540
Veterinary Emergency Group LLC Class A
9/16/21 - 3/17/22
39,452
ZenPayroll, Inc.
10/01/21
8,326
ZenPayroll, Inc. Series D
7/16/19
32,431
ZenPayroll, Inc. Series E
7/13/21
5,079
Zipline International, Inc.
10/12/21
18,569
Zipline International, Inc. Series E
12/21/20
42,978
 
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 (Amounts in thousands)
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 3.10%
1,364,187
11,926,039
10,751,270
18,678
-
-
2,538,956
5.0%
Fidelity Securities Lending Cash Central Fund 3.10%
435,183
4,061,078
3,628,263
1,375
-
-
867,998
2.4%
Total
1,799,370
15,987,117
14,379,533
20,053
-
-
3,406,954
 
 
 
 
 
 
 
 
 
 
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 ($)
Ivanhoe Electric, Inc.
-
-
-
-
-
25,230
36,978
Ivanhoe Electric, Inc.
-
7,859
34
-
(7)
(2,329)
5,489
P3 Health Partners, Inc.
18,294
-
-
-
-
(6,288)
12,006
Synaptics, Inc.
696,243
2,057
63,777
-
(488)
(431,478)
202,557
Total
714,537
9,916
63,811
-
(495)
(414,865)
257,030
 
 
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted 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 service 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.
 
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, and 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 services or from brokers who make markets in such securities. Preferred Securities are valued by pricing services 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 services. 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.
 
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.