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N/A 144100.00000000 NS USD 1167210.00000000 0.008822789140 Long EC CORP KY Y 1 N N N SPLUNK INC 549300XGDSGBP6UEI867 SPLUNK INC 848637104 132700.00000000 NS USD 16056700.00000000 0.121370514634 Long EC CORP US N 1 N N N WORKDAY INC 549300J0DYC0N31V7G13 WORKDAY INC CL A 98138H101 609260.00000000 NS USD 167077369.80000000 1.262916188029 Long EC CORP US N 1 N N N AIRBNB INC 549300HMUDNO0RY56D37 AIRBNB INC CLASS A 009066101 112300.00000000 NS USD 19376242.00000000 0.146462502457 Long EC CORP US N 1 N N N FIRST SOLAR INC 549300NPYMLM4NHTOF27 FIRST SOLAR INC 336433107 100000.00000000 NS USD 10360000.00000000 0.078309897526 Long EC CORP US N 1 N N N AVALARA INC 549300Q16CMW239SS315 AVALARA INC 05338G106 214700.00000000 NS USD 29989296.00000000 0.226685202378 Long EC CORP US N 1 N N N UNIVERSAL DISPLAY CORP N/A UNIVERSAL DISPLAY CORP 91347P105 69300.00000000 NS USD 9913365.00000000 0.074933841437 Long EC CORP US N 1 N N N SKYRYSE INC N/A SKYRYSE INC SER B PC PP N/A 121800.00000000 NS USD 3006020.35000000 0.022722118298 Long EP CORP US Y 3 N N N RELIANCE INDUSTRIES LTD 5493003UOETFYRONLG31 RELIANCE INDS GDR 759470107 79100.00000000 NS USD 5054490.00000000 0.038206234936 Long EC CORP IN N 1 N N N RENESAS ELECTRONICS CORP 5299000EPC47VJQOFB81 RENESAS ELECTRONICS CORP N/A 1505600.00000000 NS 18918361.50000000 0.143001443091 Long EC CORP JP N 2 N N N COUPA SOFTWARE INC 549300Q95ICR2GFL2K37 COUPA SOFTWARE INC 22266L106 82400.00000000 NS USD 16204784.00000000 0.122489862401 Long EC CORP US N 1 N N N SHIFT4 PAYMENTS INC N/A SHIFT4 PAYMENTS INC 82452J109 125300.00000000 NS USD 6518106.00000000 0.049269518622 Long EC CORP US N 1 N N REDDIT INC N/A REDDIT INC SERIES D PC PP N/A 250861.00000000 NS USD 15501804.98000000 0.117176135082 Long EP CORP US Y 3 N N N DXC TECHNOLOGY CO 549300DOVZ3EDJB7O259 DXC TECHNOLOGY CO 23355L106 285600.00000000 NS USD 8565144.00000000 0.064742813603 Long EC CORP US N 1 N N N TONGDAO LIEPIN GROUP 30030027GU9V3OLVUK70 TONGDAO LIEPIN GROUP N/A 24417133.00000000 NS 47844805.37000000 0.361652683946 Long EC CORP KY N 1 N N N ASTERA LABS INC N/A ASTERA LABS INC SER C PC PP N/A 344200.00000000 NS USD 1157131.56000000 0.008746607518 Long EP CORP US Y 3 N N N ANT INTERNATIONAL CO LTD N/A ANT INTERNATIONAL CO LTD CLASS C PP N/A 6426931.00000000 NS USD 12982400.62000000 0.098132283995 Long EC CORP KY Y 3 N N N AUTO1 GROUP SE 391200S2LPXG5ZD5G304 AUTO1 GROUP SE N/A 1513500.00000000 NS 42568216.63000000 0.321767633413 Long EC CORP DE N 1 N N N EVERBRIDGE INC 549300WCY0UMR64ATW81 EVERBRIDGE INC 29978A104 246700.00000000 NS USD 27980714.00000000 0.211502591317 Long EC CORP US N 1 N N N RINGCENTRAL INC 549300C8EH0H1614VE84 RINGCENTRAL INC CL A 76680R206 107300.00000000 NS USD 23174654.00000000 0.175174206558 Long EC CORP US N 1 N N N COGNIZANT TECHNOLOGY SOLUTIONS CORP 5493006IEVQEFQO40L83 COGNIZANT TECH SOLUTIONS CL A 192446102 639000.00000000 NS USD 49829220.00000000 0.376652616989 Long EC CORP US N 1 N N N PORCH GROUP INC 549300NXEI7CVW8IXQ90 PORCH GROUP INC 733245104 2624884.00000000 NS USD 55227559.36000000 0.417457964681 Long EC CORP US N 1 N N N MOMENTIVE GLOBAL INC 549300PR9RG3VC9OH575 MOMENTIVE GLOBAL INC 60878Y108 7462062.00000000 NS USD 152449926.66000000 1.152349240793 Long EC CORP US N 1 N N N ALPHABET INC 5493006MHB84DD0ZWV18 ALPHABET INC CL A 02079K305 39500.00000000 NS USD 112099025.00000000 0.847342003912 Long EC CORP US N 1 N N N UBER TECHNOLOGIES INC 549300B2FTG34FILDR98 UBER TECHNOLOGIES INC 90353T100 2805396.00000000 NS USD 106605048.00000000 0.805813743692 Long EC CORP US N 1 N N N CONVOY INC N/A CONVOY INC SER D PC PP N/A 203844.00000000 NS USD 3481655.52000000 0.026317382914 Long EP CORP US Y 3 N N N DELIVEROO PLC 984500F6537F74DDEE77 DELIVEROO HOLDINGS PLC CL A N/A 8208200.00000000 NS 32651238.16000000 0.246806478225 Long EC CORP GB N 1 N N N 2021-12-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_64_20211130.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity® Select Portfolios®
Technology Portfolio
November 30, 2021
TEC-NPRT3-0122
1.810712.117
Common Stocks - 99.1%
 
 
Shares
Value ($)
 
Communications Equipment - 0.1%
 
 
 
Communications Equipment - 0.1%
 
 
 
Lumentum Holdings, Inc. (a)
 
69,400
6,021,838
Diversified Financial Services - 0.2%
 
 
 
Other Diversified Financial Services - 0.2%
 
 
 
Ant International Co. Ltd. Class C (a)(b)(c)
 
6,426,931
12,982,401
Local Bounti Corp. (b)
 
1,546,921
9,146,944
 
 
 
22,129,345
Electrical Equipment - 3.2%
 
 
 
Electrical Components & Equipment - 3.2%
 
 
 
Array Technologies, Inc. (a)(d)
 
4,227,830
76,164,357
ESS Tech, Inc. (b)
 
787,286
11,929,351
FREYR Battery SA
 
456,653
4,808,556
FTC Solar, Inc. (d)
 
1,274,800
10,912,288
Shoals Technologies Group, Inc. (d)
 
787,100
22,117,510
Sunrun, Inc. (a)(d)
 
6,423,444
295,735,362
 
 
 
421,667,424
Heavy Electrical Equipment - 0.0%
 
 
 
NEL ASA (a)(d)
 
824,900
1,730,142
TOTAL ELECTRICAL EQUIPMENT
 
 
423,397,566
Electronic Equipment & Components - 3.9%
 
 
 
Electronic Components - 0.1%
 
 
 
II-VI, Inc. (a)
 
150,125
9,387,316
Electronic Manufacturing Services - 3.8%
 
 
 
Flex Ltd. (a)
 
13,816,687
236,265,348
Jabil, Inc.
 
4,587,461
268,182,970
 
 
 
504,448,318
TOTAL ELECTRONIC EQUIPMENT & COMPONENTS
 
 
513,835,634
Food & Staples Retailing - 0.2%
 
 
 
Drug Retail - 0.2%
 
 
 
Shop Apotheke Europe NV (a)(e)
 
60,600
11,030,597
Zur Rose Group AG (a)
 
50,870
19,338,413
 
 
 
30,369,010
Health Care Equipment & Supplies - 0.2%
 
 
 
Health Care Equipment - 0.2%
 
 
 
JEOL Ltd.
 
266,600
22,335,577
Hotels, Restaurants & Leisure - 0.2%
 
 
 
Hotels, Resorts & Cruise Lines - 0.2%
 
 
 
Airbnb, Inc. Class A
 
112,300
19,376,242
MakeMyTrip Ltd. (a)
 
97,844
2,382,501
 
 
 
21,758,743
Household Durables - 0.3%
 
 
 
Consumer Electronics - 0.3%
 
 
 
GoPro, Inc. Class A (a)(d)
 
4,423,534
44,235,340
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Renewable Electricity - 0.1%
 
 
 
Sunnova Energy International, Inc. (a)
 
263,042
9,724,663
Industrial Conglomerates - 0.9%
 
 
 
Industrial Conglomerates - 0.9%
 
 
 
Hitachi Ltd.
 
1,972,894
115,568,521
Interactive Media & Services - 2.6%
 
 
 
Interactive Media & Services - 2.6%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A (a)
 
39,500
112,099,025
 Class C (a)
 
20,200
57,550,608
Snap, Inc. Class A (a)
 
1,373,600
65,397,096
Tencent Holdings Ltd.
 
320,500
18,691,265
Tongdao Liepin Group (a)
 
24,417,133
47,844,805
Twitter, Inc. (a)
 
147,000
6,459,180
Zoominfo Technologies, Inc. (a)
 
679,700
41,937,490
 
 
 
349,979,469
Internet & Direct Marketing Retail - 0.9%
 
 
 
Internet & Direct Marketing Retail - 0.9%
 
 
 
Cazoo Group Ltd. (b)
 
144,100
1,167,210
Deliveroo PLC Class A (a)(e)
 
8,208,200
32,651,238
Global-e Online Ltd.
 
360,400
23,944,976
Kogan.Com Ltd. (d)
 
513,052
2,922,176
Porch Group, Inc. Class A (a)
 
2,624,884
55,227,559
 
 
 
115,913,159
IT Services - 9.9%
 
 
 
Data Processing & Outsourced Services - 7.3%
 
 
 
Dlocal Ltd.
 
3,600
119,520
Fidelity National Information Services, Inc.
 
184,827
19,314,422
Flywire Corp.
 
23,100
938,784
Global Payments, Inc.
 
117,530
13,990,771
MasterCard, Inc. Class A
 
1,031,336
324,788,333
Paymentus Holdings, Inc.
 
21,800
644,408
Payoneer Global, Inc.
 
1,272,600
9,862,650
PayPal Holdings, Inc. (a)
 
952,600
176,126,214
Sabre Corp. (a)(d)
 
361,800
2,724,354
Shift4 Payments, Inc. (a)(d)
 
125,300
6,518,106
Square, Inc. (a)
 
401,500
83,644,495
TaskUs, Inc.
 
283,800
12,643,290
Visa, Inc. Class A (d)
 
1,640,100
317,802,177
 
 
 
969,117,524
Internet Services & Infrastructure - 1.7%
 
 
 
Cloudflare, Inc. (a)
 
238,200
44,838,768
GoDaddy, Inc. (a)
 
156,700
10,995,639
MongoDB, Inc. Class A (a)
 
126,200
62,860,220
Okta, Inc. (a)
 
48,900
10,524,747
Twilio, Inc. Class A (a)
 
313,300
89,650,795
Wix.com Ltd. (a)
 
55,700
8,510,960
 
 
 
227,381,129
IT Consulting & Other Services - 0.9%
 
 
 
Cognizant Technology Solutions Corp. Class A
 
639,000
49,829,220
Digital Hearts Holdings Co. Ltd.
 
962,200
21,093,746
DXC Technology Co. (a)
 
285,600
8,565,144
Liveramp Holdings, Inc. (a)
 
71,300
3,346,109
Thoughtworks Holding, Inc.
 
1,329,902
34,949,825
 
 
 
117,784,044
TOTAL IT SERVICES
 
 
1,314,282,697
Life Sciences Tools & Services - 0.0%
 
 
 
Life Sciences Tools & Services - 0.0%
 
 
 
Eden Biologics, Inc. (a)(c)
 
1,015,442
0
Oil, Gas & Consumable Fuels - 0.9%
 
 
 
Oil & Gas Refining & Marketing - 0.9%
 
 
 
Reliance Industries Ltd.
 
3,348,678
107,255,793
Reliance Industries Ltd. (a)
 
206,153
6,602,935
Reliance Industries Ltd. sponsored GDR (e)
 
79,100
5,054,490
 
 
 
118,913,218
Pharmaceuticals - 0.0%
 
 
 
Pharmaceuticals - 0.0%
 
 
 
Chime Biologics Ltd. (a)(c)
 
1,015,442
528,873
Professional Services - 1.5%
 
 
 
Human Resource & Employment Services - 0.0%
 
 
 
Renrui Human Resources Technology Holdings Ltd.
 
313,557
337,361
Research & Consulting Services - 1.5%
 
 
 
Clarivate Analytics PLC (a)(d)
 
8,209,200
191,602,728
Otonomo Technologies Ltd. (a)
 
1,048,000
4,139,600
 
 
 
195,742,328
TOTAL PROFESSIONAL SERVICES
 
 
196,079,689
Road & Rail - 1.2%
 
 
 
Trucking - 1.2%
 
 
 
Lyft, Inc. (a)
 
1,313,338
53,334,656
Uber Technologies, Inc. (a)
 
2,805,396
106,605,048
 
 
 
159,939,704
Semiconductors & Semiconductor Equipment - 15.4%
 
 
 
Semiconductor Equipment - 1.2%
 
 
 
Applied Materials, Inc.
 
732,300
107,787,237
Lam Research Corp.
 
53,000
36,032,050
Teradyne, Inc.
 
105,200
16,081,924
 
 
 
159,901,211
Semiconductors - 14.2%
 
 
 
Advanced Micro Devices, Inc. (a)
 
81,100
12,843,807
Cirrus Logic, Inc. (a)
 
75,695
6,069,225
First Solar, Inc. (a)
 
100,000
10,360,000
indie Semiconductor, Inc. (d)
 
157,600
2,163,848
Marvell Technology, Inc.
 
2,271,154
161,638,030
Microchip Technology, Inc.
 
2,208,700
184,271,841
Micron Technology, Inc.
 
919,700
77,254,800
NVIDIA Corp.
 
2,574,900
841,374,324
NXP Semiconductors NV
 
983,805
219,742,685
ON Semiconductor Corp. (a)
 
4,007,500
246,180,725
Renesas Electronics Corp. (a)
 
1,505,600
18,918,362
Semtech Corp. (a)
 
269,200
23,062,364
SiTime Corp. (a)
 
9,000
2,686,320
Universal Display Corp.
 
69,300
9,913,365
Xilinx, Inc.
 
259,600
59,305,620
 
 
 
1,875,785,316
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
 
 
2,035,686,527
Software - 38.1%
 
 
 
Application Software - 14.1%
 
 
 
Adobe, Inc. (a)
 
512,100
343,030,185
Anaplan, Inc. (a)
 
651,700
27,899,277
Autodesk, Inc. (a)
 
232,222
59,028,510
Avalara, Inc. (a)
 
214,700
29,989,296
AvidXchange Holdings, Inc.
 
320,000
6,835,200
Braze, Inc.
 
15,100
1,150,620
CCC Intelligent Solutions Holdings, Inc. (b)
 
102,045
1,311,278
Ceridian HCM Holding, Inc. (a)
 
52,400
5,732,560
Cognyte Software Ltd. (d)
 
3,017,578
61,468,064
Confluent, Inc. (d)
 
110,730
8,639,155
Coupa Software, Inc. (a)
 
82,400
16,204,784
Digital Turbine, Inc. (a)
 
98,800
5,242,328
Ebix, Inc. (d)
 
166,500
5,088,240
Elastic NV (a)
 
175,400
27,267,684
Epic Games, Inc. (a)(b)(c)
 
17,917
12,898,627
Everbridge, Inc. (a)
 
246,700
27,980,714
HubSpot, Inc. (a)
 
53,300
43,008,303
Intapp, Inc.
 
257,400
7,050,186
Intuit, Inc.
 
256,700
167,445,410
Lightspeed Commerce, Inc. (a)(d)
 
376,700
19,019,583
LivePerson, Inc. (a)(d)
 
1,003,681
38,802,307
Momentive Global, Inc. (a)
 
7,170,878
146,501,038
Nutanix, Inc. Class B (a)(e)
 
72,872
2,420,808
Qualtrics International, Inc.
 
905,900
29,314,924
Rimini Street, Inc. (a)(d)
 
3,726,056
24,629,230
RingCentral, Inc. (a)
 
107,300
23,174,654
Salesforce.com, Inc. (a)
 
1,496,288
426,382,228
Splunk, Inc. (a)
 
132,700
16,056,700
Stripe, Inc. Class B (a)(b)(c)
 
38,600
1,548,825
Stronghold Digital Mining, Inc. Class A (d)
 
26,100
449,964
Verint Systems, Inc. (a)
 
66,000
3,140,940
Workday, Inc. Class A (a)
 
609,260
167,077,370
Workiva, Inc. (a)
 
42,900
5,983,263
Yext, Inc. (a)
 
5,238,814
50,606,943
Zendesk, Inc. (a)
 
131,100
13,386,621
Zoom Video Communications, Inc. Class A (a)
 
194,300
41,076,963
 
 
 
1,866,842,782
Systems Software - 24.0%
 
 
 
Crowdstrike Holdings, Inc. (a)
 
8,900
1,932,546
GitLab, Inc. (d)
 
210,992
20,369,168
Mandiant, Inc. (a)
 
801,000
13,592,970
Microsoft Corp.
 
8,868,740
2,931,916,754
Palo Alto Networks, Inc. (a)
 
114,300
62,515,242
Rapid7, Inc. (a)
 
98,000
12,157,880
ServiceNow, Inc. (a)
 
134,600
87,180,420
Telos Corp.
 
742,799
11,699,084
UiPath, Inc. Class A (a)(d)
 
466,800
22,523,100
VMware, Inc. Class A (a)(d)
 
90,800
10,599,992
 
 
 
3,174,487,156
TOTAL SOFTWARE
 
 
5,041,329,938
Specialty Retail - 0.3%
 
 
 
Automotive Retail - 0.3%
 
 
 
Auto1 Group SE (e)
 
1,513,500
42,568,217
Technology Hardware, Storage & Peripherals - 19.0%
 
 
 
Technology Hardware, Storage & Peripherals - 19.0%
 
 
 
Apple, Inc.
 
15,102,888
2,496,507,386
IonQ, Inc. (b)
 
8,400
200,088
Western Digital Corp. (a)
 
386,500
22,355,160
 
 
 
2,519,062,634
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
Textiles - 0.0%
 
 
 
Algolia, Inc. (b)(c)
 
153,503
4,489,203
 
TOTAL COMMON STOCKS
 (Cost $8,108,219,563)
 
 
 
13,108,149,565
 
 
 
 
Preferred Stocks - 0.8%
 
 
Shares
Value ($)
 
Convertible Preferred Stocks - 0.7%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
ABL Space Systems:
 
 
 
  Series B(b)(c)
 
98,000
6,663,618
  Series B2(b)(c)
 
74,989
5,098,960
 
 
 
11,762,578
Communications Equipment - 0.1%
 
 
 
Communications Equipment - 0.1%
 
 
 
Astranis Space Technologies Corp. Series C (b)(c)
 
605,440
14,724,301
Xsight Labs Ltd. Series D (b)(c)
 
281,500
2,250,874
 
 
 
16,975,175
Construction & Engineering - 0.1%
 
 
 
Construction & Engineering - 0.1%
 
 
 
Beta Technologies, Inc. Series A (b)(c)
 
72,591
5,318,743
 
 
 
 
Internet & Direct Marketing Retail - 0.1%
 
 
 
Internet & Direct Marketing Retail - 0.1%
 
 
 
Reddit, Inc.:
 
 
 
  Series D(a)(b)(c)
 
250,861
15,501,805
  Series E(b)(c)
 
14,400
889,839
 
 
 
16,391,644
IT Services - 0.1%
 
 
 
Internet Services & Infrastructure - 0.1%
 
 
 
ByteDance Ltd. Series E1 (b)(c)
 
70,707
9,228,678
 
 
 
 
Road & Rail - 0.0%
 
 
 
Trucking - 0.0%
 
 
 
Convoy, Inc. Series D (a)(b)(c)
 
203,844
3,481,656
 
 
 
 
Semiconductors & Semiconductor Equipment - 0.0%
 
 
 
Semiconductor Equipment - 0.0%
 
 
 
Astera Labs, Inc. Series C (b)(c)
 
344,200
1,157,132
 
 
 
 
Semiconductors - 0.0%
 
 
 
GaN Systems, Inc.:
 
 
 
  Series F1(b)(c)
 
133,634
1,133,216
  Series F2(b)(c)
 
70,564
598,383
 
 
 
1,731,599
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
 
 
2,888,731
 
 
 
 
Software - 0.2%
 
 
 
Application Software - 0.2%
 
 
 
Databricks, Inc.:
 
 
 
  Series G(b)(c)
 
15,004
3,307,668
  Series H(b)(c)
 
58,006
12,787,562
Skyryse, Inc. Series B (b)(c)
 
121,800
3,006,020
Stripe, Inc. Series H (b)(c)
 
17,100
686,138
 
 
 
19,787,388
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
Textiles - 0.0%
 
 
 
Algolia SAS Series D (b)(c)
 
109,867
3,213,066
Discord, Inc. Series I (b)(c)
 
1,300
715,812
 
 
 
3,928,878
Transportation Infrastructure - 0.0%
 
 
 
Highways & Railtracks - 0.0%
 
 
 
Delhivery Private Ltd. Series H (b)(c)
 
5,790
2,748,901
 
 
 
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 
 
92,512,372
Nonconvertible Preferred Stocks - 0.1%
 
 
 
IT Services - 0.1%
 
 
 
Data Processing & Outsourced Services - 0.1%
 
 
 
Checkr, Inc. Series E (c)
 
237,000
12,798,000
 
 
 
 
Internet Services & Infrastructure - 0.0%
 
 
 
Gupshup, Inc. (b)(c)
 
257,284
5,882,850
 
 
 
 
TOTAL IT SERVICES
 
 
18,680,850
 
 
 
 
 
TOTAL PREFERRED STOCKS
 (Cost $94,379,103)
 
 
 
111,193,222
 
 
 
 
Preferred Securities - 0.0%
 
 
Principal
Amount (f)
 
Value ($)
 
Semiconductors & Semiconductor Equipment - 0.0%
 
 
 
Semiconductors - 0.0%
 
 
 
GaN Systems, Inc. 0% (b)(c)(g)
 
  (Cost $3,132,190)
 
 
3,132,190
3,132,190
 
 
 
 
Money Market Funds - 2.6%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 0.06% (h)
 
55,960,943
55,972,135
Fidelity Securities Lending Cash Central Fund 0.07% (h)(i)
 
292,065,080
292,094,287
 
TOTAL MONEY MARKET FUNDS
 (Cost $348,066,422)
 
 
348,066,422
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 102.5%
 (Cost $8,553,797,278)
 
 
 
13,570,541,399
NET OTHER ASSETS (LIABILITIES) - (2.5)%  
(335,942,791)
NET ASSETS - 100.0%
13,234,598,608
 
 
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 $157,201,339 or 1.2% 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 $93,725,350 or 0.7% of net assets.
 
(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.
 
(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 ($)
 
ABL Space Systems Series B
3/24/21
4,413,489
ABL Space Systems Series B2
10/22/21
5,098,960
Algolia SAS Series D
7/23/21
3,213,066
Algolia, Inc.
10/27/21
4,489,203
Ant International Co. Ltd. Class C
5/16/18
24,495,442
Astera Labs, Inc. Series C
8/24/21
1,157,132
Astranis Space Technologies Corp. Series C
3/19/21
13,271,808
Beta Technologies, Inc. Series A
4/09/21
5,318,743
ByteDance Ltd. Series E1
11/18/20
7,747,662
Cazoo Group Ltd.
3/28/21
1,441,000
CCC Intelligent Solutions Holdings, Inc.
2/02/21
1,020,450
Convoy, Inc. Series D
10/30/19
2,760,048
Databricks, Inc. Series G
2/01/21
2,661,228
Databricks, Inc. Series H
8/31/21
12,787,562
Delhivery Private Ltd. Series H
5/20/21
2,826,237
Discord, Inc. Series I
9/15/21
715,812
Epic Games, Inc.
3/29/21
15,856,545
ESS Tech, Inc.
5/06/21
7,872,860
GaN Systems, Inc. Series F1
11/30/21
1,133,216
GaN Systems, Inc. Series F2
11/30/21
598,383
GaN Systems, Inc. 0%
11/30/21
3,132,190
Gupshup, Inc.
6/08/21
5,882,850
IonQ, Inc.
3/07/21
84,000
Local Bounti Corp.
6/17/21 - 11/04/21
15,469,210
Reddit, Inc. Series D
2/04/19
5,440,247
Reddit, Inc. Series E
5/18/21
611,628
Skyryse, Inc. Series B
10/21/21
3,006,020
Stripe, Inc. Class B
5/18/21
1,548,955
Stripe, Inc. Series H
3/15/21
686,138
Xsight Labs Ltd. Series D
2/16/21
2,250,874
 
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%
238,396
947,829,178
892,095,439
10,901
-
-
55,972,135
0.1%
Fidelity Securities Lending Cash Central Fund 0.07%
92,023,760
1,992,063,709
1,791,993,182
395,242
-
-
292,094,287
0.9%
Total
92,262,156
2,939,892,887
2,684,088,621
406,143
-
-
348,066,422
 
 
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
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Momentive Global, Inc.
169,018,078
2,220,724
44,513,064
-
(6,628,998)
26,404,298
-
Yext, Inc.
127,999,800
3,247,450
30,539,556
-
(16,233,386)
(33,867,365)
-
Total
297,017,878
5,468,174
75,052,620
-
(22,862,384)
(7,463,067)
-
 
 
 
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.
 
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 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 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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