NPORT-EX 2 QTLY_339_20210331.htm

Quarterly Holdings Report
for

Fidelity® Growth Discovery Fund

March 31, 2021







CII-QTLY-0521
1.799853.117





Schedule of Investments March 31, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.9%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 15.3%   
Diversified Telecommunication Services - 0.4%   
Cellnex Telecom SA (a) 247,400 $14,245 
Entertainment - 0.7%   
DouYu International Holdings Ltd. ADR (b) 33,200 346 
Take-Two Interactive Software, Inc. (b) 78,807 13,925 
Warner Music Group Corp. Class A 197,400 6,777 
  21,048 
Interactive Media & Services - 13.7%   
Alphabet, Inc. Class A (b) 120,652 248,847 
Facebook, Inc. Class A (b) 288,691 85,028 
JOYY, Inc. ADR 30,900 2,896 
Match Group, Inc. (b) 42,938 5,899 
Tencent Holdings Ltd. 845,500 67,477 
Tongdao Liepin Group (b) 1,213,400 3,418 
Zoominfo Technologies, Inc. 150,900 7,379 
  420,944 
Media - 0.5%   
Cable One, Inc. 8,200 14,993 
TOTAL COMMUNICATION SERVICES  471,230 
CONSUMER DISCRETIONARY - 12.1%   
Automobiles - 0.6%   
Ferrari NV 83,800 17,538 
XPeng, Inc. ADR (b) 28,800 1,051 
  18,589 
Diversified Consumer Services - 0.6%   
Laureate Education, Inc. Class A (b) 1,349,600 18,341 
Hotels, Restaurants & Leisure - 1.1%   
Airbnb, Inc. Class A (c) 9,300 1,748 
Compass Group PLC (b) 120,000 2,424 
Dalata Hotel Group PLC 300,600 1,489 
Deliveroo Holdings PLC (b) 222,700 1,197 
Flutter Entertainment PLC 59,400 12,697 
Hilton Worldwide Holdings, Inc. 121,500 14,692 
  34,247 
Household Durables - 1.7%   
Blu Investments LLC (d)(e) 3,320,224 
D.R. Horton, Inc. 303,800 27,075 
NVR, Inc. (b) 3,040 14,321 
Toll Brothers, Inc. 190,500 10,807 
  52,204 
Internet & Direct Marketing Retail - 6.5%   
Alibaba Group Holding Ltd. sponsored ADR (b) 154,000 34,916 
Amazon.com, Inc. (b) 50,600 156,560 
Coupang, Inc. Class A (b)(c) 26,000 1,283 
Delivery Hero AG (a)(b) 28,300 3,667 
Pinduoduo, Inc. ADR (b) 9,900 1,325 
  197,751 
Specialty Retail - 0.1%   
Aritzia LP (b) 59,900 1,392 
Ulta Beauty, Inc. (b) 4,249 1,314 
  2,706 
Textiles, Apparel & Luxury Goods - 1.5%   
LVMH Moet Hennessy Louis Vuitton SE 44,380 29,644 
Prada SpA (b) 1,908,000 11,916 
Samsonite International SA (a)(b) 2,965,500 5,722 
  47,282 
TOTAL CONSUMER DISCRETIONARY  371,120 
CONSUMER STAPLES - 3.3%   
Beverages - 1.6%   
Fever-Tree Drinks PLC 351 10 
Kweichow Moutai Co. Ltd. (A Shares) 71,229 21,838 
Monster Beverage Corp. (b) 275,700 25,114 
  46,962 
Household Products - 1.1%   
Energizer Holdings, Inc. 357,200 16,953 
Reckitt Benckiser Group PLC 184,703 16,533 
  33,486 
Tobacco - 0.6%   
Altria Group, Inc. 113,300 5,796 
Swedish Match Co. AB 172,700 13,482 
  19,278 
TOTAL CONSUMER STAPLES  99,726 
ENERGY - 1.4%   
Oil, Gas & Consumable Fuels - 1.4%   
HollyFrontier Corp. 116,300 4,161 
Reliance Industries Ltd. 88,203 1,315 
Reliance Industries Ltd. 1,371,053 37,545 
  43,021 
FINANCIALS - 5.0%   
Banks - 1.4%   
Comerica, Inc. 185,600 13,315 
HDFC Bank Ltd. (b) 72,910 1,492 
HDFC Bank Ltd. sponsored ADR (b) 155,300 12,065 
M&T Bank Corp. 54,400 8,248 
Metro Bank PLC (b) 25,300 40 
Wintrust Financial Corp. 103,500 7,845 
  43,005 
Capital Markets - 1.4%   
CME Group, Inc. 143,245 29,255 
Franklin Resources, Inc. 188,700 5,586 
JMP Group, Inc. (b) 75,200 450 
MSCI, Inc. 4,100 1,719 
S&P Global, Inc. 4,300 1,517 
T. Rowe Price Group, Inc. 24,800 4,256 
  42,783 
Consumer Finance - 0.8%   
Capital One Financial Corp. 201,300 25,611 
Insurance - 1.4%   
American Financial Group, Inc. 123,300 14,069 
American International Group, Inc. 197,600 9,131 
Arthur J. Gallagher & Co. 107,100 13,363 
BRP Group, Inc. (b) 47,400 1,292 
RenaissanceRe Holdings Ltd. 31,500 5,048 
  42,903 
TOTAL FINANCIALS  154,302 
HEALTH CARE - 17.6%   
Biotechnology - 4.1%   
ACADIA Pharmaceuticals, Inc. (b) 47,800 1,233 
Adamas Pharmaceuticals, Inc. (b) 679,618 3,262 
Affimed NV (b) 200,400 1,585 
Alnylam Pharmaceuticals, Inc. (b) 27,800 3,925 
Applied Therapeutics, Inc. (b) 166,700 3,126 
Atara Biotherapeutics, Inc. (b) 156,700 2,250 
Biogen, Inc. (b) 7,600 2,126 
BioNTech SE ADR (b)(c) 64,732 7,068 
CRISPR Therapeutics AG (b)(c) 34,800 4,240 
Evelo Biosciences, Inc. (b) 22,800 244 
Exelixis, Inc. (b) 91,700 2,072 
Gamida Cell Ltd. (b)(c) 615,200 4,977 
Hookipa Pharma, Inc. (b) 116,600 1,568 
Innovent Biologics, Inc. (a)(b) 410,500 4,164 
Insmed, Inc. (b) 292,678 9,969 
Neurocrine Biosciences, Inc. (b) 79,800 7,761 
Nuvation Bio Pvt, Inc. 119,094 1,120 
Olink Holding AB ADR (b) 11,100 400 
Prelude Therapeutics, Inc. 11,400 494 
Regeneron Pharmaceuticals, Inc. (b) 75,600 35,769 
Rubius Therapeutics, Inc. (b) 54,080 1,433 
Seres Therapeutics, Inc. (b) 64,900 1,336 
Vertex Pharmaceuticals, Inc. (b) 70,693 15,191 
Vor Biopharma, Inc. (b)(c) 16,400 707 
Vor Biopharma, Inc. 168,922 6,552 
XOMA Corp. (b) 79,200 3,232 
  125,804 
Health Care Equipment & Supplies - 3.5%   
Axonics Modulation Technologies, Inc. (b) 85,000 5,091 
Danaher Corp. 107,655 24,231 
Haemonetics Corp. (b) 119,600 13,277 
Hologic, Inc. (b) 366,000 27,223 
Insulet Corp. (b) 1,300 339 
Intuitive Surgical, Inc. (b) 33,900 25,050 
Medacta Group SA (a)(b) 5,410 582 
Nevro Corp. (b) 33,200 4,631 
Outset Medical, Inc. 21,742 1,183 
Penumbra, Inc. (b) 21,300 5,763 
  107,370 
Health Care Providers & Services - 4.8%   
Centene Corp. (b) 191,500 12,239 
Cigna Corp. 25,300 6,116 
Guardant Health, Inc. (b) 13,200 2,015 
HealthEquity, Inc. (b) 161,900 11,009 
UnitedHealth Group, Inc. 313,400 116,607 
  147,986 
Health Care Technology - 1.2%   
Certara, Inc. 57,600 1,572 
Inspire Medical Systems, Inc. (b) 65,079 13,471 
MultiPlan Corp. (d) 494,524 2,745 
MultiPlan Corp.:   
warrants (b)(d) 24,481 27 
Class A (b)(c) 129,300 718 
Schrodinger, Inc. (b)(c) 35,700 2,724 
Simulations Plus, Inc. (c) 32,500 2,055 
Veeva Systems, Inc. Class A (b) 46,300 12,095 
  35,407 
Life Sciences Tools & Services - 1.4%   
10X Genomics, Inc. (b) 37,800 6,842 
Berkeley Lights, Inc. (b)(c) 101,800 5,113 
Bio-Rad Laboratories, Inc. Class A (b) 6,100 3,484 
Bio-Techne Corp. 6,200 2,368 
Bruker Corp. 200,900 12,914 
Codexis, Inc. (b) 183,300 4,196 
Nanostring Technologies, Inc. (b) 90,500 5,947 
Sotera Health Co. 51,200 1,278 
  42,142 
Pharmaceuticals - 2.6%   
Aclaris Therapeutics, Inc. (b) 96,800 2,439 
AstraZeneca PLC sponsored ADR (c) 255,100 12,684 
Eli Lilly & Co. 245,500 45,864 
Endo International PLC (b) 994,400 7,369 
Merck & Co., Inc. 103,300 7,963 
Revance Therapeutics, Inc. (b) 169,200 4,729 
  81,048 
TOTAL HEALTH CARE  539,757 
INDUSTRIALS - 9.2%   
Aerospace & Defense - 0.9%   
Airbus Group NV 106,400 12,068 
Axon Enterprise, Inc. (b) 2,400 342 
TransDigm Group, Inc. (b) 27,527 16,184 
  28,594 
Airlines - 0.8%   
Ryanair Holdings PLC sponsored ADR (b) 216,500 24,898 
Building Products - 0.6%   
Builders FirstSource, Inc. (b) 169,150 7,843 
Fortune Brands Home & Security, Inc. 98,100 9,400 
  17,243 
Electrical Equipment - 0.9%   
Ballard Power Systems, Inc. (b) 11,700 285 
Bloom Energy Corp. Class A (b)(c) 58,800 1,591 
Ceres Power Holdings PLC (b) 217,300 3,763 
Generac Holdings, Inc. (b) 71,300 23,347 
  28,986 
Industrial Conglomerates - 1.6%   
General Electric Co. 3,703,000 48,620 
Machinery - 1.0%   
Ingersoll Rand, Inc. (b) 432,400 21,278 
Woodward, Inc. 67,500 8,143 
  29,421 
Professional Services - 1.6%   
CACI International, Inc. Class A (b) 31,300 7,720 
Equifax, Inc. 143,100 25,920 
Upwork, Inc. (b) 363,082 16,255 
  49,895 
Road & Rail - 1.6%   
Canadian Pacific Railway Ltd. 21,100 8,003 
CSX Corp. 78,900 7,608 
Uber Technologies, Inc. (b) 626,272 34,138 
  49,749 
Trading Companies & Distributors - 0.2%   
Ferguson PLC 51,100 6,106 
TOTAL INDUSTRIALS  283,512 
INFORMATION TECHNOLOGY - 33.6%   
Electronic Equipment & Components - 0.4%   
Dolby Laboratories, Inc. Class A 73,900 7,295 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 1,034,000 4,547 
Jabil, Inc. 3,100 162 
Novanta, Inc. (b) 4,900 646 
  12,650 
IT Services - 2.9%   
Adyen BV (a)(b) 3,800 8,479 
Amadeus IT Holding SA Class A (b) 71,800 5,114 
Black Knight, Inc. (b) 136,470 10,097 
Edenred SA 1,000 52 
MasterCard, Inc. Class A 28,900 10,290 
MongoDB, Inc. Class A (b) 67,800 18,132 
Shopify, Inc. Class A (b) 10,900 12,034 
Square, Inc. (b) 101,300 23,000 
  87,198 
Semiconductors & Semiconductor Equipment - 9.3%   
Aixtron AG 264,700 6,014 
ASML Holding NV 48,000 29,633 
eMemory Technology, Inc. 24,000 751 
Enphase Energy, Inc. (b) 65,600 10,638 
MediaTek, Inc. 57,000 1,966 
NVIDIA Corp. 172,400 92,050 
NXP Semiconductors NV 144,700 29,134 
Qualcomm, Inc. 657,700 87,204 
SiTime Corp. (b) 23,800 2,347 
SolarEdge Technologies, Inc. (b) 23,600 6,784 
Universal Display Corp. 77,500 18,350 
  284,871 
Software - 15.0%   
Adobe, Inc. (b) 167,700 79,720 
Cloudflare, Inc. (b) 39,300 2,761 
Coupa Software, Inc. (b) 6,400 1,629 
CyberArk Software Ltd. (b) 108,300 14,008 
Datadog, Inc. Class A (b) 5,100 425 
Duck Creek Technologies, Inc. (b) 2,800 126 
Elastic NV (b) 1,800 200 
Epic Games, Inc. (d)(e) 2,244 1,986 
FireEye, Inc. (b)(c) 1,299,400 25,429 
Manhattan Associates, Inc. (b) 99,000 11,621 
Microsoft Corp. 1,216,400 286,788 
NICE Systems Ltd. sponsored ADR (b) 33,100 7,215 
Palo Alto Networks, Inc. (b) 69,700 22,448 
Rapid7, Inc. (b) 63,200 4,715 
Volue A/S 328,300 1,996 
  461,067 
Technology Hardware, Storage & Peripherals - 6.0%   
Apple, Inc. 1,277,000 155,986 
Samsung Electronics Co. Ltd. 391,270 28,412 
  184,398 
TOTAL INFORMATION TECHNOLOGY  1,030,184 
MATERIALS - 1.7%   
Chemicals - 1.3%   
Albemarle Corp. U.S. 54,300 7,934 
LG Chemical Ltd. 17,810 12,793 
Sherwin-Williams Co. 25,500 18,819 
  39,546 
Construction Materials - 0.3%   
Eagle Materials, Inc. 76,000 10,215 
Metals & Mining - 0.1%   
First Quantum Minerals Ltd. 146,900 2,800 
MP Materials Corp. (b)(c) 28,500 1,025 
  3,825 
TOTAL MATERIALS  53,586 
REAL ESTATE - 0.7%   
Equity Real Estate Investment Trusts (REITs) - 0.6%   
Equity Residential (SBI) 48,100 3,445 
Simon Property Group, Inc. 126,600 14,403 
  17,848 
Real Estate Management & Development - 0.1%   
CBRE Group, Inc. (b) 52,400 4,145 
TOTAL REAL ESTATE  21,993 
TOTAL COMMON STOCKS   
(Cost $1,743,034)  3,068,431 
Convertible Preferred Stocks - 0.2%   
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
ElevateBio LLC Series C (d)(e) 75,700 318 
INFORMATION TECHNOLOGY - 0.0%   
IT Services - 0.0%   
AppNexus, Inc. Series E (Escrow) (b)(d)(e) 48,212 
MATERIALS - 0.2%   
Metals & Mining - 0.2%   
Illuminated Holdings, Inc.:   
Series C2 (d)(e) 50,974 1,835 
Series C3 (d)(e) 63,718 2,294 
Series C4 (d)(e) 18,303 659 
  4,788 
TOTAL CONVERTIBLE PREFERRED STOCKS   
(Cost $4,163)  5,108 
Money Market Funds - 1.6%   
Fidelity Cash Central Fund 0.06% (f) 12,842,554 12,845 
Fidelity Securities Lending Cash Central Fund 0.06% (f)(g) 37,052,975 37,057 
TOTAL MONEY MARKET FUNDS   
(Cost $49,902)  49,902 
TOTAL INVESTMENT IN SECURITIES - 101.7%   
(Cost $1,797,099)  3,123,441 
NET OTHER ASSETS (LIABILITIES) - (1.7)%  (53,117) 
NET ASSETS - 100%  $3,070,324 

Legend

 (a) 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 $36,859,000 or 1.2% of net assets.

 (b) Non-income producing

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

 (d) 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 $9,867,000 or 0.3% of net assets.

 (e) Level 3 security

 (f) 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.

 (g) 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) 
AppNexus, Inc. Series E (Escrow) 8/1/14 $0 
Blu Investments LLC 5/21/20 $6 
ElevateBio LLC Series C 3/9/21 $318 
Epic Games, Inc. 3/29/21 $1,986 
Illuminated Holdings, Inc. Series C2 7/7/20 $1,274 
Illuminated Holdings, Inc. Series C3 7/7/20 $1,912 
Illuminated Holdings, Inc. Series C4 1/8/21 $659 
MultiPlan Corp. 10/8/20 $4,896 
MultiPlan Corp. warrants 10/8/20 $0 

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 $18 
Fidelity Securities Lending Cash Central Fund 164 
Total $182 

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.

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