NPORT-EX 2 QTLY_3_20210331.htm

Quarterly Holdings Report
for

Fidelity® Fund

March 31, 2021







FID-QTLY-0521
1.799854.117





Schedule of Investments March 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.8%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 14.2%   
Entertainment - 2.5%   
Activision Blizzard, Inc. 537,400 $49,978 
Bilibili, Inc. Class Z (a) 23,700 2,524 
Electronic Arts, Inc. 305,000 41,288 
Take-Two Interactive Software, Inc. (a) 219,200 38,733 
  132,523 
Interactive Media & Services - 11.7%   
Alphabet, Inc.:   
Class A (a) 174,000 358,878 
Class C (a) 38,000 78,608 
Bumble, Inc. 26,600 1,659 
Facebook, Inc. Class A (a) 652,500 192,181 
  631,326 
TOTAL COMMUNICATION SERVICES  763,849 
CONSUMER DISCRETIONARY - 11.4%   
Hotels, Restaurants & Leisure - 0.1%   
Airbnb, Inc. Class A 16,600 3,120 
Deliveroo Holdings PLC (a) 391,700 2,106 
  5,226 
Household Durables - 0.7%   
D.R. Horton, Inc. 230,400 20,533 
NVR, Inc. (a) 2,520 11,872 
Tempur Sealy International, Inc. 238,200 8,709 
  41,114 
Internet & Direct Marketing Retail - 5.7%   
Amazon.com, Inc. (a) 84,100 260,212 
Coupang, Inc. Class A (a)(b) 44,700 2,206 
eBay, Inc. 551,407 33,768 
Etsy, Inc. (a) 14,000 2,823 
JD.com, Inc. Class A 142,900 6,026 
  305,035 
Multiline Retail - 1.1%   
Dollar General Corp. 289,900 58,740 
Specialty Retail - 3.3%   
AutoZone, Inc. (a) 1,900 2,668 
Best Buy Co., Inc. 68,000 7,807 
Lowe's Companies, Inc. 274,000 52,109 
The Home Depot, Inc. 350,000 106,838 
TJX Companies, Inc. 39,000 2,580 
Tractor Supply Co. 29,100 5,153 
  177,155 
Textiles, Apparel & Luxury Goods - 0.5%   
NIKE, Inc. Class B 210,000 27,907 
TOTAL CONSUMER DISCRETIONARY  615,177 
CONSUMER STAPLES - 5.2%   
Beverages - 0.3%   
Boston Beer Co., Inc. Class A (a) 2,900 3,498 
PepsiCo, Inc. 92,200 13,042 
  16,540 
Food & Staples Retailing - 2.3%   
Costco Wholesale Corp. 217,000 76,488 
Walmart, Inc. 341,300 46,359 
  122,847 
Household Products - 1.5%   
Procter & Gamble Co. 610,000 82,612 
Personal Products - 1.1%   
Estee Lauder Companies, Inc. Class A 206,000 59,915 
TOTAL CONSUMER STAPLES  281,914 
FINANCIALS - 9.5%   
Banks - 1.9%   
JPMorgan Chase & Co. 675,000 102,755 
Capital Markets - 5.2%   
Ameriprise Financial, Inc. 39,700 9,228 
BlackRock, Inc. Class A 26,000 19,603 
MarketAxess Holdings, Inc. 26,400 13,145 
Moody's Corp. 95,000 28,368 
Morgan Stanley 700,000 54,362 
MSCI, Inc. 183,000 76,728 
Nordnet AB 164,900 2,662 
Raymond James Financial, Inc. 112,400 13,776 
S&P Global, Inc. 183,500 64,752 
  282,624 
Consumer Finance - 1.6%   
Capital One Financial Corp. 355,300 45,205 
Discover Financial Services 279,000 26,502 
Synchrony Financial 299,900 12,194 
  83,901 
Insurance - 0.8%   
Progressive Corp. 453,700 43,378 
TOTAL FINANCIALS  512,658 
HEALTH CARE - 13.4%   
Biotechnology - 1.7%   
AbbVie, Inc. 331,900 35,918 
Regeneron Pharmaceuticals, Inc. (a) 95,500 45,185 
Vertex Pharmaceuticals, Inc. (a) 35,000 7,521 
  88,624 
Health Care Equipment & Supplies - 5.0%   
Abbott Laboratories 425,400 50,980 
Danaher Corp. 378,000 85,080 
DexCom, Inc. (a) 15,000 5,391 
Edwards Lifesciences Corp. (a) 336,300 28,128 
Hologic, Inc. (a) 227,000 16,884 
IDEXX Laboratories, Inc. (a) 14,800 7,242 
Intuitive Surgical, Inc. (a) 42,800 31,627 
Masimo Corp. (a) 32,000 7,349 
Quidel Corp. (a) 9,900 1,267 
ResMed, Inc. 140,800 27,318 
West Pharmaceutical Services, Inc. 35,000 9,862 
  271,128 
Health Care Providers & Services - 3.2%   
Cigna Corp. 55,900 13,513 
Laboratory Corp. of America Holdings (a) 139,300 35,526 
UnitedHealth Group, Inc. 329,000 122,411 
  171,450 
Life Sciences Tools & Services - 1.7%   
Charles River Laboratories International, Inc. (a) 17,488 5,069 
Joinn Laboratories China Co. Ltd. (H Shares) (c) 10,000 173 
Mettler-Toledo International, Inc. (a) 6,400 7,396 
PerkinElmer, Inc. 66,000 8,467 
Sartorius Stedim Biotech 11,100 4,572 
Thermo Fisher Scientific, Inc. 142,100 64,852 
  90,529 
Pharmaceuticals - 1.8%   
Eli Lilly & Co. 170,900 31,928 
Merck & Co., Inc. 390,500 30,104 
Royalty Pharma PLC 112,150 4,892 
Zoetis, Inc. Class A 195,000 30,709 
  97,633 
TOTAL HEALTH CARE  719,364 
INDUSTRIALS - 5.0%   
Airlines - 0.7%   
Southwest Airlines Co. 651,471 39,779 
Building Products - 1.8%   
Carrier Global Corp. 589,482 24,888 
Fortune Brands Home & Security, Inc. 312,100 29,905 
The AZEK Co., Inc. 95,000 3,995 
Trane Technologies PLC 220,000 36,423 
  95,211 
Commercial Services & Supplies - 0.2%   
Copart, Inc. (a) 77,000 8,363 
Construction & Engineering - 0.1%   
Quanta Services, Inc. 50,500 4,443 
Electrical Equipment - 0.5%   
AMETEK, Inc. 53,300 6,808 
Generac Holdings, Inc. (a) 16,500 5,403 
Rockwell Automation, Inc. 50,000 13,272 
  25,483 
Industrial Conglomerates - 0.5%   
Roper Technologies, Inc. 73,900 29,807 
Machinery - 0.7%   
Cummins, Inc. 58,100 15,054 
Otis Worldwide Corp. 350,000 23,958 
  39,012 
Professional Services - 0.2%   
Verisk Analytics, Inc. 55,200 9,753 
Road & Rail - 0.3%   
Old Dominion Freight Lines, Inc. 72,991 17,548 
TOTAL INDUSTRIALS  269,399 
INFORMATION TECHNOLOGY - 36.6%   
Electronic Equipment & Components - 1.1%   
Amphenol Corp. Class A 746,000 49,214 
Keysight Technologies, Inc. (a) 62,000 8,891 
  58,105 
IT Services - 6.5%   
Accenture PLC Class A 183,800 50,775 
Adyen BV (a)(c) 2,400 5,355 
Affirm Holdings, Inc. (b) 13,000 919 
EPAM Systems, Inc. (a) 44,100 17,494 
MasterCard, Inc. Class A 263,700 93,890 
PayPal Holdings, Inc. (a) 306,500 74,430 
Snowflake Computing, Inc. 15,200 3,485 
Visa, Inc. Class A 489,000 103,536 
  349,884 
Semiconductors & Semiconductor Equipment - 6.3%   
ASML Holding NV 78,000 48,154 
Broadcom, Inc. 118,100 54,758 
Enphase Energy, Inc. (a) 27,900 4,524 
Inphi Corp. (a) 3,000 535 
KLA Corp. 156,200 51,608 
Lam Research Corp. 131,800 78,453 
Monolithic Power Systems, Inc. 15,200 5,369 
NVIDIA Corp. 108,000 57,664 
Qorvo, Inc. (a) 51,943 9,490 
Skyworks Solutions, Inc. 68,400 12,550 
SolarEdge Technologies, Inc. (a) 16,200 4,657 
Texas Instruments, Inc. 66,900 12,643 
  340,405 
Software - 13.5%   
Adobe, Inc. (a) 179,800 85,472 
ANSYS, Inc. (a) 44,700 15,178 
Cadence Design Systems, Inc. (a) 135,000 18,494 
Ceridian HCM Holding, Inc. (a) 40,900 3,447 
DocuSign, Inc. (a) 31,800 6,438 
Duck Creek Technologies, Inc. (a) 5,700 257 
Fortinet, Inc. (a) 217,000 40,019 
Microsoft Corp. 2,093,600 493,608 
Qualtrics International, Inc. 25,400 836 
Salesforce.com, Inc. (a) 53,800 11,399 
ServiceNow, Inc. (a) 79,300 39,659 
Synopsys, Inc. (a) 41,700 10,332 
  725,139 
Technology Hardware, Storage & Peripherals - 9.2%   
Apple, Inc. 4,058,100 495,696 
TOTAL INFORMATION TECHNOLOGY  1,969,229 
MATERIALS - 0.8%   
Chemicals - 0.8%   
Sherwin-Williams Co. 57,700 42,583 
REAL ESTATE - 1.2%   
Equity Real Estate Investment Trusts (REITs) - 1.2%   
American Tower Corp. 226,000 54,028 
Prologis (REIT), Inc. 78,300 8,300 
  62,328 
UTILITIES - 1.5%   
Electric Utilities - 1.5%   
NextEra Energy, Inc. 1,086,800 82,173 
TOTAL COMMON STOCKS   
(Cost $2,275,729)  5,318,674 
Money Market Funds - 1.0%   
Fidelity Cash Central Fund 0.06% (d) 53,560,645 53,571 
Fidelity Securities Lending Cash Central Fund 0.06% (d)(e) 2,558,529 2,559 
TOTAL MONEY MARKET FUNDS   
(Cost $56,129)  56,130 
TOTAL INVESTMENT IN SECURITIES - 99.8%   
(Cost $2,331,858)  5,374,804 
NET OTHER ASSETS (LIABILITIES) - 0.2%  10,003 
NET ASSETS - 100%  $5,384,807 

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $5,528,000 or 0.1% of net assets.

 (d) 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.

 (e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
 (Amounts in thousands) 
Fidelity Cash Central Fund $56 
Fidelity Securities Lending Cash Central Fund 
Total $65 

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. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. 

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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.