NPORT-EX 2 QTLY_2946_20240331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Contrafund® K6
March 31, 2024
CONK6-NPRT1-0524
1.9883977.106
Common Stocks - 96.4%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 19.6%
 
 
 
Entertainment - 2.4%
 
 
 
Capcom Co. Ltd.
 
64,966
1,212,802
Liberty Media Corp. Liberty Formula One Class C
 
860,341
56,438,370
Liberty Media Corp. Liberty Live Class C
 
50,950
2,232,629
Live Nation Entertainment, Inc. (a)
 
64,018
6,771,184
Netflix, Inc. (a)
 
1,019,091
618,924,537
The Walt Disney Co.
 
465,481
56,956,255
Universal Music Group NV
 
2,280,052
68,516,367
Warner Bros Discovery, Inc. (a)
 
343,266
2,996,712
 
 
 
814,048,856
Interactive Media & Services - 17.2%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (a)
 
5,086,865
767,760,534
 Class C (a)
 
4,215,941
641,919,177
Bumble, Inc. (a)
 
248,723
2,823,006
Epic Games, Inc. (a)(b)(c)
 
14,010
8,406,000
Meta Platforms, Inc. Class A
 
8,955,277
4,348,503,396
Reddit, Inc.:
 
 
 
 Class A (d)
 
88,728
4,376,065
 Class B (j)
 
176,436
8,701,824
Shutterstock, Inc. (d)
 
93,273
4,272,836
 
 
 
5,786,762,838
TOTAL COMMUNICATION SERVICES
 
 
6,600,811,694
CONSUMER DISCRETIONARY - 10.6%
 
 
 
Automobiles - 0.2%
 
 
 
BYD Co. Ltd. (H Shares)
 
548,674
14,048,829
General Motors Co.
 
163,568
7,417,809
Hyundai Motor Co. Ltd.
 
235,000
41,264,114
Rad Power Bikes, Inc. (a)(b)(c)
 
331,574
155,840
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c)
 
389,358
981,182
Tesla, Inc. (a)
 
10,606
1,864,429
Toyota Motor Corp.
 
606,678
15,333,768
 
 
 
81,065,971
Broadline Retail - 5.7%
 
 
 
Amazon.com, Inc. (a)
 
10,157,175
1,832,151,227
Coupang, Inc. Class A (a)
 
2,525,207
44,923,433
Dollarama, Inc.
 
125,736
9,578,604
Kohl's Corp. (d)
 
393,739
11,477,492
MercadoLibre, Inc. (a)
 
22,157
33,500,498
Pan Pacific International Holdings Ltd.
 
139,514
3,691,066
 
 
 
1,935,322,320
Diversified Consumer Services - 0.1%
 
 
 
Duolingo, Inc. (a)
 
85,030
18,755,917
Hotels, Restaurants & Leisure - 1.8%
 
 
 
Airbnb, Inc. Class A (a)
 
1,109,137
182,963,240
Booking Holdings, Inc.
 
26,511
96,178,727
Cava Group, Inc. (d)
 
329,472
23,079,514
Chipotle Mexican Grill, Inc. (a)
 
40,836
118,700,860
Deliveroo PLC Class A (a)(e)
 
4,257,157
6,356,461
Domino's Pizza, Inc.
 
13,893
6,903,154
Doordash, Inc. (a)
 
67,661
9,318,273
Evolution AB (e)
 
57,025
7,088,702
Flutter Entertainment PLC (a)
 
29,811
5,941,138
Hilton Worldwide Holdings, Inc.
 
447,620
95,481,822
Light & Wonder, Inc. Class A (a)
 
78,525
8,016,617
Marriott International, Inc. Class A
 
45,445
11,466,228
McDonald's Corp.
 
61,500
17,339,925
Red Rock Resorts, Inc.
 
68,554
4,100,900
Restaurant Brands International, Inc.
 
268,616
21,331,825
Starbucks Corp.
 
30,176
2,757,785
Yum China Holdings, Inc.
 
70,106
2,789,518
 
 
 
619,814,689
Household Durables - 0.5%
 
 
 
D.R. Horton, Inc.
 
196,167
32,279,280
Garmin Ltd.
 
41,918
6,240,333
Lennar Corp. Class A
 
743,069
127,793,007
 
 
 
166,312,620
Specialty Retail - 1.9%
 
 
 
Abercrombie & Fitch Co. Class A (a)
 
108,661
13,618,483
Academy Sports & Outdoors, Inc.
 
437,208
29,529,028
AutoZone, Inc. (a)
 
1,104
3,479,422
Dick's Sporting Goods, Inc.
 
295,251
66,390,140
Fanatics, Inc. Class A (a)(b)(c)
 
332,480
24,593,546
Fast Retailing Co. Ltd.
 
59,763
18,516,139
Gap, Inc. (d)
 
800,797
22,061,957
Industria de Diseno Textil SA
 
69,757
3,512,704
O'Reilly Automotive, Inc. (a)
 
112,693
127,216,874
Ross Stores, Inc.
 
125,782
18,459,766
The Home Depot, Inc.
 
54,891
21,056,188
TJX Companies, Inc.
 
1,113,749
112,956,424
Williams-Sonoma, Inc. (d)
 
541,267
171,868,511
 
 
 
633,259,182
Textiles, Apparel & Luxury Goods - 0.4%
 
 
 
adidas AG
 
23,544
5,257,892
Asics Corp.
 
73,300
3,440,810
Canva, Inc. Class A (b)(c)
 
21,800
23,253,188
Crocs, Inc. (a)
 
24,000
3,451,200
Deckers Outdoor Corp. (a)
 
22,264
20,956,213
lululemon athletica, Inc. (a)
 
7,389
2,886,513
NIKE, Inc. Class B
 
87,206
8,195,620
On Holding AG (a)
 
1,365,380
48,307,144
Ralph Lauren Corp.
 
69,069
12,968,395
 
 
 
128,716,975
TOTAL CONSUMER DISCRETIONARY
 
 
3,583,247,674
CONSUMER STAPLES - 2.1%
 
 
 
Beverages - 0.4%
 
 
 
Anheuser-Busch InBev SA NV ADR
 
45,018
2,736,194
Constellation Brands, Inc. Class A (sub. vtg.)
 
12,245
3,327,701
Fomento Economico Mexicano S.A.B. de CV sponsored ADR
 
70,579
9,194,326
Kweichow Moutai Co. Ltd. (A Shares)
 
11,900
2,801,926
PepsiCo, Inc.
 
8,833
1,545,863
The Coca-Cola Co.
 
1,644,367
100,602,373
 
 
 
120,208,383
Consumer Staples Distribution & Retail - 1.5%
 
 
 
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
438,305
25,015,953
Casey's General Stores, Inc.
 
78,653
25,047,048
Costco Wholesale Corp.
 
582,666
426,878,592
Performance Food Group Co. (a)
 
41,648
3,108,607
Walmart, Inc.
 
500,015
30,085,903
 
 
 
510,136,103
Food Products - 0.1%
 
 
 
Bowery Farming, Inc. warrants (a)(b)(c)
 
20,213
41,437
Mondelez International, Inc.
 
643,889
45,072,230
 
 
 
45,113,667
Personal Care Products - 0.1%
 
 
 
Estee Lauder Companies, Inc. Class A
 
23,705
3,654,126
L'Oreal SA
 
56,282
26,653,560
L'Oreal SA
 
30,187
14,295,708
Oddity Tech Ltd.
 
66,287
2,880,170
 
 
 
47,483,564
TOTAL CONSUMER STAPLES
 
 
722,941,717
ENERGY - 2.8%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
Schlumberger Ltd.
 
102,565
5,621,588
TechnipFMC PLC
 
152,463
3,828,346
 
 
 
9,449,934
Oil, Gas & Consumable Fuels - 2.8%
 
 
 
Cameco Corp.
 
559,803
24,250,666
Canadian Natural Resources Ltd. (d)
 
1,242,429
94,777,002
Cheniere Energy, Inc.
 
111,691
18,013,524
ConocoPhillips Co.
 
1,099,020
139,883,266
Diamondback Energy, Inc.
 
103,861
20,582,134
EOG Resources, Inc.
 
221,496
28,316,049
Exxon Mobil Corp.
 
2,705,058
314,435,942
Hess Corp.
 
496,019
75,712,340
Marathon Petroleum Corp.
 
292,927
59,024,791
Occidental Petroleum Corp.
 
766,940
49,843,431
Phillips 66 Co.
 
65,542
10,705,630
PrairieSky Royalty Ltd.
 
282,599
5,534,939
Reliance Industries Ltd.
 
164,882
5,876,502
Sable Offshore Corp. (b)
 
1,076,300
11,796,248
Valero Energy Corp.
 
435,652
74,361,440
 
 
 
933,113,904
TOTAL ENERGY
 
 
942,563,838
FINANCIALS - 15.2%
 
 
 
Banks - 2.6%
 
 
 
AIB Group PLC
 
2,134,051
10,830,118
Banco Santander SA (Spain)
 
3,492,868
17,060,676
Bank of America Corp.
 
4,349,020
164,914,838
Bank of Ireland Group PLC
 
691,925
7,061,146
Citigroup, Inc.
 
678,920
42,934,901
East West Bancorp, Inc.
 
41,080
3,249,839
First Citizens Bancshares, Inc.
 
16,168
26,434,680
JPMorgan Chase & Co.
 
2,029,166
406,441,950
Nu Holdings Ltd. (a)(d)
 
2,890,785
34,487,065
Royal Bank of Canada
 
608,418
61,365,079
Starling Bank Ltd. Series D (a)(b)(c)
 
4,139,223
17,396,987
Wells Fargo & Co.
 
1,627,417
94,325,089
 
 
 
886,502,368
Capital Markets - 0.7%
 
 
 
Blackstone, Inc.
 
88,126
11,577,113
Brookfield Asset Management Ltd.:
 
 
 
 Class A
 
13,682
574,734
 Class A
 
608,934
25,587,407
Brookfield Corp. (Canada) Class A
 
111,495
4,665,414
CME Group, Inc.
 
51,403
11,066,552
Coinbase Global, Inc. (a)
 
111,204
29,482,404
Goldman Sachs Group, Inc.
 
32,024
13,376,105
KKR & Co. LP
 
132,370
13,313,775
London Stock Exchange Group PLC
 
153,683
18,388,801
Moody's Corp.
 
7,337
2,883,661
Morgan Stanley
 
512,057
48,215,287
MSCI, Inc.
 
48,036
26,921,776
Raymond James Financial, Inc.
 
5,721
734,691
TulCo LLC (a)(b)(c)(f)
 
1,552
1,181,941
UBS Group AG
 
1,001,750
30,812,824
 
 
 
238,782,485
Consumer Finance - 0.5%
 
 
 
American Express Co.
 
554,592
126,275,052
Capital One Financial Corp.
 
82,916
12,345,363
Discover Financial Services
 
86,927
11,395,260
 
 
 
150,015,675
Financial Services - 9.4%
 
 
 
Berkshire Hathaway, Inc. Class A (a)
 
3,938
2,498,424,720
Block, Inc. Class A (a)
 
71,163
6,018,967
MasterCard, Inc. Class A
 
233,081
112,244,817
PayPal Holdings, Inc. (a)
 
205,910
13,793,911
Visa, Inc. Class A
 
1,944,100
542,559,428
 
 
 
3,173,041,843
Insurance - 2.0%
 
 
 
American International Group, Inc.
 
1,475,841
115,366,491
Arthur J. Gallagher & Co.
 
191,493
47,880,910
Chubb Ltd.
 
374,730
97,103,785
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
72,630
78,289,515
Intact Financial Corp.
 
320,394
52,046,433
Marsh & McLennan Companies, Inc.
 
237,794
48,980,808
Progressive Corp. (d)
 
797,085
164,853,120
The Travelers Companies, Inc.
 
282,079
64,917,661
 
 
 
669,438,723
TOTAL FINANCIALS
 
 
5,117,781,094
HEALTH CARE - 11.6%
 
 
 
Biotechnology - 3.3%
 
 
 
Apogee Therapeutics, Inc.
 
64,138
4,261,970
BioNTech SE ADR (a)
 
85,314
7,870,217
Celldex Therapeutics, Inc. (a)
 
190,804
8,008,044
Denali Therapeutics, Inc. (a)
 
114,620
2,352,002
Galapagos NV sponsored ADR (a)
 
313,192
10,084,782
Janux Therapeutics, Inc. (a)
 
75,177
2,830,414
Moderna, Inc. (a)
 
129,660
13,816,570
Moonlake Immunotherapeutics (a)
 
131,073
6,583,797
Neurocrine Biosciences, Inc. (a)
 
22,806
3,145,404
Recursion Pharmaceuticals, Inc. (a)(d)
 
607,805
6,059,816
Regeneron Pharmaceuticals, Inc. (a)
 
703,663
677,268,601
Sarepta Therapeutics, Inc. (a)
 
9,938
1,286,573
Vaxcyte, Inc. (a)
 
163,002
11,134,667
Vertex Pharmaceuticals, Inc. (a)
 
889,270
371,723,753
Viking Therapeutics, Inc. (a)
 
53,497
4,386,754
 
 
 
1,130,813,364
Health Care Equipment & Supplies - 1.2%
 
 
 
Alcon, Inc.
 
192,217
16,009,754
Boston Scientific Corp. (a)
 
1,742,377
119,335,401
DexCom, Inc. (a)
 
99,480
13,797,876
EssilorLuxottica SA
 
29,710
6,721,437
Intuitive Surgical, Inc. (a)
 
437,273
174,511,282
Shockwave Medical, Inc. (a)
 
8,932
2,908,527
Straumann Holding AG
 
29,867
4,768,917
Stryker Corp.
 
167,481
59,936,425
The Cooper Companies, Inc.
 
98,063
9,949,472
 
 
 
407,939,091
Health Care Providers & Services - 2.3%
 
 
 
Cencora, Inc.
 
27,995
6,802,505
Molina Healthcare, Inc. (a)
 
6,361
2,613,290
UnitedHealth Group, Inc.
 
1,559,841
771,653,343
 
 
 
781,069,138
Life Sciences Tools & Services - 0.2%
 
 
 
Danaher Corp.
 
118,548
29,603,807
IQVIA Holdings, Inc. (a)
 
18,368
4,645,084
Lonza Group AG
 
22
13,147
Mettler-Toledo International, Inc. (a)
 
2,870
3,820,802
Thermo Fisher Scientific, Inc.
 
16,825
9,778,858
Veterinary Emergency Group LLC Class A (a)(b)(c)(f)
 
203,735
11,335,815
 
 
 
59,197,513
Pharmaceuticals - 4.6%
 
 
 
Eli Lilly & Co.
 
1,415,152
1,100,931,650
Intra-Cellular Therapies, Inc. (a)
 
163,247
11,296,692
Merck & Co., Inc.
 
2,386,214
314,860,937
Novo Nordisk A/S Series B
 
294,017
37,714,563
Royalty Pharma PLC
 
1,690,718
51,347,106
Teva Pharmaceutical Industries Ltd. sponsored ADR (a)
 
1,486,710
20,977,478
 
 
 
1,537,128,426
TOTAL HEALTH CARE
 
 
3,916,147,532
INDUSTRIALS - 5.9%
 
 
 
Aerospace & Defense - 0.6%
 
 
 
Axon Enterprise, Inc. (a)
 
43,776
13,696,635
General Dynamics Corp.
 
22,405
6,329,188
Howmet Aerospace, Inc.
 
313,545
21,455,884
Lockheed Martin Corp.
 
3,987
1,813,567
Northrop Grumman Corp.
 
128,770
61,637,048
Relativity Space, Inc. warrants (a)(b)(c)
 
24,482
381,674
Rolls-Royce Holdings PLC (a)
 
1,363,044
7,333,676
Space Exploration Technologies Corp. Class A (a)(b)(c)
 
73,000
7,081,000
TransDigm Group, Inc.
 
63,059
77,663,464
 
 
 
197,392,136
Air Freight & Logistics - 0.0%
 
 
 
Zipline International, Inc. (a)(b)(c)
 
87,466
3,140,904
Building Products - 0.3%
 
 
 
Carrier Global Corp.
 
284,030
16,510,664
Masco Corp.
 
19,253
1,518,677
The AZEK Co., Inc. (a)
 
40,149
2,016,283
Trane Technologies PLC
 
285,155
85,603,531
 
 
 
105,649,155
Commercial Services & Supplies - 0.5%
 
 
 
Cintas Corp.
 
69,232
47,564,461
Clean Harbors, Inc. (a)
 
166,444
33,506,842
Clean TeQ Water Pty Ltd. (a)(d)
 
517,435
124,759
GFL Environmental, Inc.
 
847,753
29,233,725
Republic Services, Inc.
 
110,726
21,197,385
Veralto Corp.
 
189,729
16,821,373
Waste Connections, Inc. (United States)
 
39,446
6,785,106
 
 
 
155,233,651
Electrical Equipment - 0.9%
 
 
 
Eaton Corp. PLC
 
534,804
167,222,515
Fuji Electric Co. Ltd.
 
9,200
617,362
GE Vernova LLC
 
28,100
3,842,675
Generac Holdings, Inc. (a)
 
64,943
8,191,910
Hubbell, Inc. Class B
 
201,771
83,745,054
Nextracker, Inc. Class A (a)
 
279,951
15,752,843
nVent Electric PLC
 
239,231
18,038,017
 
 
 
297,410,376
Ground Transportation - 0.4%
 
 
 
Canadian Pacific Kansas City Ltd.
 
588,203
51,861,566
Old Dominion Freight Lines, Inc.
 
228,368
50,083,386
Uber Technologies, Inc. (a)
 
464,020
35,724,900
 
 
 
137,669,852
Industrial Conglomerates - 1.1%
 
 
 
3M Co.
 
159,451
16,912,968
General Electric Co.
 
1,927,777
338,382,697
 
 
 
355,295,665
Machinery - 1.0%
 
 
 
Caterpillar, Inc.
 
198,021
72,560,835
Deere & Co.
 
103,172
42,376,867
Fortive Corp.
 
172,693
14,855,052
Indutrade AB
 
124,689
3,400,291
Ingersoll Rand, Inc.
 
129,017
12,250,164
Mitsubishi Heavy Industries Ltd.
 
374,400
3,393,313
PACCAR, Inc.
 
1,176,596
145,768,478
Parker Hannifin Corp.
 
71,022
39,473,317
 
 
 
334,078,317
Passenger Airlines - 0.2%
 
 
 
Copa Holdings SA Class A
 
32,707
3,406,761
Ryanair Holdings PLC sponsored ADR
 
481,568
70,111,485
 
 
 
73,518,246
Professional Services - 0.2%
 
 
 
Equifax, Inc.
 
12,145
3,249,030
RELX PLC (London Stock Exchange)
 
77,386
3,337,306
Thomson Reuters Corp.
 
172,854
26,900,168
Verisk Analytics, Inc.
 
193,039
45,505,083
 
 
 
78,991,587
Trading Companies & Distributors - 0.7%
 
 
 
Fastenal Co.
 
94,563
7,294,590
Ferguson PLC
 
47,978
10,479,835
Itochu Corp.
 
73,069
3,139,015
Mitsui & Co. Ltd.
 
75,378
3,524,041
United Rentals, Inc.
 
79,947
57,650,581
W.W. Grainger, Inc.
 
153,564
156,220,657
 
 
 
238,308,719
TOTAL INDUSTRIALS
 
 
1,976,688,608
INFORMATION TECHNOLOGY - 25.8%
 
 
 
Communications Equipment - 0.7%
 
 
 
Arista Networks, Inc. (a)
 
766,978
222,408,280
Motorola Solutions, Inc.
 
39,895
14,161,927
 
 
 
236,570,207
Electronic Equipment, Instruments & Components - 2.0%
 
 
 
Amphenol Corp. Class A
 
5,475,021
631,543,672
CDW Corp.
 
117,008
29,928,306
E Ink Holdings, Inc.
 
439,000
3,113,962
 
 
 
664,585,940
IT Services - 1.1%
 
 
 
Accenture PLC Class A
 
612,131
212,170,726
Cloudflare, Inc. (a)
 
332,359
32,182,322
Gartner, Inc. (a)
 
38,550
18,375,629
MongoDB, Inc. Class A (a)
 
51,738
18,555,316
Okta, Inc. (a)
 
30,713
3,213,194
Shopify, Inc. Class A (a)
 
937,845
72,352,296
X Holdings Corp. Class A (b)(c)
 
102,340
2,747,829
 
 
 
359,597,312
Semiconductors & Semiconductor Equipment - 9.4%
 
 
 
Advanced Micro Devices, Inc. (a)
 
1,579,442
285,073,487
Advantest Corp.
 
239,068
10,620,084
Analog Devices, Inc.
 
164,083
32,453,977
Applied Materials, Inc.
 
296,508
61,148,845
Arm Holdings Ltd. ADR
 
59,017
7,376,535
ASML Holding NV (depository receipt)
 
32,638
31,674,200
Astera Labs, Inc.
 
66,044
4,899,804
Broadcom, Inc.
 
134,648
178,463,806
KLA Corp.
 
4,818
3,365,710
Lam Research Corp.
 
15,754
15,306,114
Lattice Semiconductor Corp. (a)
 
98,086
7,673,268
Monolithic Power Systems, Inc.
 
97,059
65,749,708
NVIDIA Corp.
 
2,563,261
2,316,060,109
ON Semiconductor Corp. (a)
 
224,210
16,490,646
Qualcomm, Inc.
 
480,262
81,308,357
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
512,152
69,678,280
 
 
 
3,187,342,930
Software - 9.4%
 
 
 
Adobe, Inc. (a)
 
116,091
58,579,519
ANSYS, Inc. (a)
 
9,836
3,414,666
Aurora Innovation, Inc. (a)(d)
 
2,251,147
6,348,235
Cadence Design Systems, Inc. (a)
 
562,935
175,230,407
Check Point Software Technologies Ltd. (a)
 
109,023
17,880,862
Clear Secure, Inc. (d)
 
605,724
12,883,749
Confluent, Inc. (a)
 
55,328
1,688,611
CoreWeave, Inc. (b)(c)
 
23,380
9,123,110
Crowdstrike Holdings, Inc. (a)
 
107,427
34,440,022
Datadog, Inc. Class A (a)
 
145,829
18,024,464
Dynatrace, Inc. (a)
 
82,172
3,816,068
Fair Isaac Corp. (a)
 
501
626,055
HubSpot, Inc. (a)
 
20,698
12,968,539
Intuit, Inc.
 
45,025
29,266,250
JFrog Ltd. (a)
 
17,462
772,170
Microsoft Corp.
 
5,261,477
2,213,608,603
Palo Alto Networks, Inc. (a)
 
189,654
53,886,391
Roper Technologies, Inc.
 
14,937
8,377,267
Salesforce, Inc.
 
952,933
287,004,361
Samsara, Inc. (a)
 
437,083
16,517,367
ServiceNow, Inc. (a)
 
106,017
80,827,361
Stripe, Inc. Class B (a)(b)(c)
 
75,100
1,874,496
Synopsys, Inc. (a)
 
180,010
102,875,715
Tanium, Inc. Class B (a)(b)(c)
 
449,538
4,000,888
Varonis Systems, Inc. (a)
 
15,055
710,144
Workday, Inc. Class A (a)
 
41,680
11,368,220
ZenPayroll, Inc. (a)(b)(c)
 
50,300
1,777,602
Zoom Video Communications, Inc. Class A (a)
 
190,101
12,426,902
Zscaler, Inc. (a)
 
16,972
3,269,316
 
 
 
3,183,587,360
Technology Hardware, Storage & Peripherals - 3.2%
 
 
 
Apple, Inc.
 
6,051,115
1,037,645,200
Dell Technologies, Inc.
 
317,891
36,274,542
Samsung Electronics Co. Ltd.
 
231,640
13,866,959
 
 
 
1,087,786,701
TOTAL INFORMATION TECHNOLOGY
 
 
8,719,470,450
MATERIALS - 2.3%
 
 
 
Chemicals - 0.3%
 
 
 
Linde PLC
 
49,652
23,054,417
Sherwin-Williams Co.
 
109,787
38,132,319
Westlake Corp.
 
184,353
28,169,138
 
 
 
89,355,874
Construction Materials - 0.2%
 
 
 
CRH PLC
 
263,024
22,688,450
Martin Marietta Materials, Inc.
 
23,504
14,430,046
Vulcan Materials Co.
 
103,274
28,185,540
 
 
 
65,304,036
Metals & Mining - 1.8%
 
 
 
ATI, Inc. (a)
 
65,909
3,372,564
B2Gold Corp.
 
11,356,908
29,764,146
Franco-Nevada Corp.
 
293,645
34,988,965
Freeport-McMoRan, Inc.
 
2,263,792
106,443,500
Ivanhoe Electric, Inc. (a)
 
1,269,105
12,437,229
Ivanhoe Mines Ltd. (a)(d)
 
13,131,006
156,655,020
Ivanhoe Mines Ltd. (a)(e)
 
1,332,254
15,894,005
Lundin Gold, Inc.
 
125,468
1,763,619
Novagold Resources, Inc. (a)
 
1,573,853
4,705,699
Nucor Corp.
 
818,379
161,957,204
Orla Mining Ltd. (a)
 
23,174
87,765
Steel Dynamics, Inc.
 
627,389
92,997,871
Sunrise Energy Metals Ltd. (a)
 
663,984
279,082
 
 
 
621,346,669
TOTAL MATERIALS
 
 
776,006,579
REAL ESTATE - 0.0%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.0%
 
 
 
Prologis, Inc.
 
49,083
6,391,588
UTILITIES - 0.5%
 
 
 
Electric Utilities - 0.4%
 
 
 
Constellation Energy Corp.
 
717,516
132,632,833
Kansai Electric Power Co., Inc.
 
229,346
3,272,496
NRG Energy, Inc.
 
74,316
5,030,450
 
 
 
140,935,779
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Vistra Corp.
 
195,479
13,615,112
TOTAL UTILITIES
 
 
154,550,891
 
TOTAL COMMON STOCKS
 (Cost $17,616,288,611)
 
 
 
32,516,601,665
 
 
 
 
Preferred Stocks - 0.7%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.7%
 
 
 
COMMUNICATION SERVICES - 0.1%
 
 
 
Interactive Media & Services - 0.1%
 
 
 
ByteDance Ltd. Series E1 (a)(b)(c)
 
80,736
18,607,226
 
 
 
 
CONSUMER DISCRETIONARY - 0.0%
 
 
 
Automobiles - 0.0%
 
 
 
Rad Power Bikes, Inc.:
 
 
 
  Series A(a)(b)(c)
 
43,228
20,317
  Series C(a)(b)(c)
 
170,098
134,377
  Series D(a)(b)(c)
 
404,900
465,635
 
 
 
620,329
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Discord, Inc. Series I (a)(b)(c)
 
2,700
678,618
 
 
 
 
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
Canva, Inc.:
 
 
 
  Series A(b)(c)
 
3,132
3,340,779
  Series A2(b)(c)
 
568
605,863
 
 
 
3,946,642
TOTAL CONSUMER DISCRETIONARY
 
 
5,245,589
 
 
 
 
CONSUMER STAPLES - 0.0%
 
 
 
Consumer Staples Distribution & Retail - 0.0%
 
 
 
GoBrands, Inc.:
 
 
 
  Series G(a)(b)(c)
 
8,352
335,500
  Series H(a)(b)(c)
 
11,788
600,245
 
 
 
935,745
Food Products - 0.0%
 
 
 
Bowery Farming, Inc.:
 
 
 
  Series C1(a)(b)(c)
 
37,316
271,287
  Series D1(b)(c)
 
20,213
84,895
 
 
 
356,182
TOTAL CONSUMER STAPLES
 
 
1,291,927
 
 
 
 
FINANCIALS - 0.0%
 
 
 
Financial Services - 0.0%
 
 
 
Acrisure Holdings, Inc. Series B (a)(b)(c)
 
57,282
1,464,701
Circle Internet Financial Ltd. Series F (a)(b)(c)
 
118,667
3,549,330
Tenstorrent Holdings, Inc. Series C1 (b)(c)
 
63,948
3,870,133
 
 
 
8,884,164
HEALTH CARE - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
ElevateBio LLC Series C (a)(b)(c)
 
486,500
1,688,155
 
 
 
 
Health Care Providers & Services - 0.0%
 
 
 
Lyra Health, Inc.:
 
 
 
  Series E(a)(b)(c)
 
190,800
3,087,144
  Series F(a)(b)(c)
 
11,519
186,377
Somatus, Inc. Series E (a)(b)(c)
 
2,766
3,059,943
 
 
 
6,333,464
TOTAL HEALTH CARE
 
 
8,021,619
 
 
 
 
INDUSTRIALS - 0.5%
 
 
 
Aerospace & Defense - 0.4%
 
 
 
Relativity Space, Inc.:
 
 
 
  Series D(a)(b)(c)
 
207,384
3,946,518
  Series E(a)(b)(c)
 
143,887
3,092,132
  Series F(b)(c)
 
244,823
5,249,005
Space Exploration Technologies Corp.:
 
 
 
  Series G(a)(b)(c)
 
11,832
11,477,040
  Series J(b)(c)
 
79,868
77,471,960
  Series N(a)(b)(c)
 
49,490
48,005,300
 
 
 
149,241,955
Air Freight & Logistics - 0.1%
 
 
 
Zipline International, Inc.:
 
 
 
  Series E(a)(b)(c)
 
178,019
6,392,662
  Series F(b)(c)
 
286,824
10,299,850
 
 
 
16,692,512
Construction & Engineering - 0.0%
 
 
 
Beta Technologies, Inc. Series B, 6.00% (a)(b)(c)
 
47,990
5,985,313
 
 
 
 
TOTAL INDUSTRIALS
 
 
171,919,780
 
 
 
 
INFORMATION TECHNOLOGY - 0.1%
 
 
 
Software - 0.1%
 
 
 
ASAPP, Inc. Series C (a)(b)(c)
 
204,122
593,995
Carbon, Inc.:
 
 
 
  Series D(a)(b)(c)
 
9,678
80,521
  Series E(a)(b)(c)
 
7,351
73,069
Moloco, Inc. Series A (b)(c)
 
95,881
4,286,840
Nuro, Inc.:
 
 
 
  Series C(a)(b)(c)
 
405,967
1,542,675
  Series D(a)(b)(c)
 
114,603
545,510
Stripe, Inc.:
 
 
 
  Series H(a)(b)(c)
 
29,000
723,840
  Series I(b)(c)
 
321,951
8,035,897
ZenPayroll, Inc.:
 
 
 
  Series D(a)(b)(c)
 
184,203
6,509,734
  Series E(a)(b)(c)
 
28,063
991,746
 
 
 
23,383,827
MATERIALS - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
High Power Exploration, Inc. Series A (a)(b)(c)
 
1,289,012
5,632,982
 
 
 
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 
 
242,987,114
Nonconvertible Preferred Stocks - 0.0%
 
 
 
FINANCIALS - 0.0%
 
 
 
Financial Services - 0.0%
 
 
 
Circle Internet Financial Ltd. Series E (a)(b)(c)
 
175,323
5,243,911
 
 
 
 
 
TOTAL PREFERRED STOCKS
 (Cost $202,191,559)
 
 
 
248,231,025
 
 
 
 
Preferred Securities - 0.0%
 
 
Principal
Amount (g)
 
Value ($)
 
CONSUMER DISCRETIONARY - 0.0%
 
 
 
Automobiles - 0.0%
 
 
 
Rad Power Bikes, Inc. 8% 12/31/25 (b)(c)
 
  (Cost $389,358)
 
 
389,358
726,931
 
 
 
 
Money Market Funds - 3.7%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
1,006,912,107
1,007,113,489
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
229,595,185
229,618,144
 
TOTAL MONEY MARKET FUNDS
 (Cost $1,236,730,640)
 
 
1,236,731,633
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.8%
 (Cost $19,055,600,168)
 
 
 
34,002,291,254
NET OTHER ASSETS (LIABILITIES) - (0.8)%  
(264,110,863)
NET ASSETS - 100.0%
33,738,180,391
 
 
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 $378,227,643 or 1.1% of net assets.
 
(c)
Level 3 security
 
(d)
Security or a portion of the security is on loan at period end.
 
(e)
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 $29,339,168 or 0.1% of net assets.
 
(f)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(g)
Amount is stated in United States dollars unless otherwise noted.
 
(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.
 
(j)
Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $8,701,824 and all restrictions are set to expire on or before  September 30, 2024.  Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Acrisure Holdings, Inc. Series B
3/22/21
1,043,678
 
 
 
ASAPP, Inc. Series C
4/30/21
1,346,613
 
 
 
Beta Technologies, Inc. Series B, 6.00%
4/04/22
4,951,128
 
 
 
Bowery Farming, Inc. Series C1
5/18/21
2,248,263
 
 
 
Bowery Farming, Inc. Series D1
10/25/23
190,978
 
 
 
Bowery Farming, Inc. warrants
10/25/23
0
 
 
 
ByteDance Ltd. Series E1
11/18/20
8,846,581
 
 
 
Canva, Inc. Class A
3/18/24
23,253,212
 
 
 
Canva, Inc. Series A
9/22/23
3,340,783
 
 
 
Canva, Inc. Series A2
9/22/23
605,864
 
 
 
Carbon, Inc. Series D
12/15/17
225,990
 
 
 
Carbon, Inc. Series E
3/22/19
205,787
 
 
 
Circle Internet Financial Ltd. Series E
5/11/21
2,845,500
 
 
 
Circle Internet Financial Ltd. Series F
5/09/22
5,000,627
 
 
 
CoreWeave, Inc.
11/29/23
7,244,527
 
 
 
Discord, Inc. Series I
9/15/21
1,486,686
 
 
 
ElevateBio LLC Series C
3/09/21
2,040,868
 
 
 
Epic Games, Inc.
7/13/20 - 7/30/20
8,055,750
 
 
 
Fanatics, Inc. Class A
8/13/20 - 12/15/21
12,844,485
 
 
 
GoBrands, Inc. Series G
3/02/21
2,085,639
 
 
 
GoBrands, Inc. Series H
7/22/21
4,579,527
 
 
 
High Power Exploration, Inc. Series A
11/15/19 - 3/04/21
6,793,094
 
 
 
Lyra Health, Inc. Series E
1/14/21
1,747,079
 
 
 
Lyra Health, Inc. Series F
6/04/21
180,899
 
 
 
Moloco, Inc. Series A
6/26/23
5,752,860
 
 
 
Nuro, Inc. Series C
10/30/20
5,299,737
 
 
 
Nuro, Inc. Series D
10/29/21
2,388,982
 
 
 
Rad Power Bikes, Inc.
1/21/21
1,599,460
 
 
 
Rad Power Bikes, Inc. warrants 10/6/33
10/06/23
0
 
 
 
Rad Power Bikes, Inc. Series A
1/21/21
208,525
 
 
 
Rad Power Bikes, Inc. Series C
1/21/21
820,526
 
 
 
Rad Power Bikes, Inc. Series D
9/17/21
3,880,481
 
 
 
Rad Power Bikes, Inc. 8% 12/31/25
10/06/23
389,358
 
 
 
Relativity Space, Inc. Series D
11/20/20
3,095,642
 
 
 
Relativity Space, Inc. Series E
5/27/21
3,285,674
 
 
 
Relativity Space, Inc. Series F
11/14/23
5,549,403
 
 
 
Relativity Space, Inc. warrants
11/14/23
0
 
 
 
Sable Offshore Corp.
1/16/24
10,763,000
 
 
 
Somatus, Inc. Series E
1/31/22
2,413,708
 
 
 
Space Exploration Technologies Corp. Class A
2/16/21
3,065,927
 
 
 
Space Exploration Technologies Corp. Series G
9/07/23
9,583,920
 
 
 
Space Exploration Technologies Corp. Series J
9/07/23
64,693,080
 
 
 
Space Exploration Technologies Corp. Series N
8/04/20
13,362,300
 
 
 
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
8,226,276
 
 
 
Stripe, Inc. Class B
5/18/21
3,013,641
 
 
 
Stripe, Inc. Series H
3/15/21
1,163,625
 
 
 
Stripe, Inc. Series I
3/20/23 - 5/12/23
6,482,206
 
 
 
Tanium, Inc. Class B
9/18/20
5,122,575
 
 
 
Tenstorrent Holdings, Inc. Series C1
4/23/21
3,801,992
 
 
 
TulCo LLC
8/24/17 - 9/07/18
723,879
 
 
 
Veterinary Emergency Group LLC Class A
9/16/21 - 11/13/23
8,269,674
 
 
 
X Holdings Corp. Class A
10/25/22
10,234,000
 
 
 
ZenPayroll, Inc.
10/01/21
1,448,054
 
 
 
ZenPayroll, Inc. Series D
7/16/19
2,452,184
 
 
 
ZenPayroll, Inc. Series E
7/13/21
852,984
 
 
 
Zipline International, Inc.
10/12/21
3,148,776
 
 
 
Zipline International, Inc. Series E
12/21/20
5,808,653
 
 
 
Zipline International, Inc. Series F
4/11/23
11,529,493
 
 
 
 
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 5.39%
1,100,128,067
792,024,068
885,038,646
13,792,491
-
-
1,007,113,489
2.0%
Fidelity Securities Lending Cash Central Fund 5.39%
251,076,876
477,951,933
499,410,665
133,294
-
-
229,618,144
0.7%
Total
1,351,204,943
1,269,976,001
1,384,449,311
13,925,785
-
-
1,236,731,633
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
 
Amounts in the dividend income column 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. 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.
 
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