NPORT-EX 2 QTLY_339_20210930.htm US_QtlyFinancialStatementsCoverMaster
Quarterly Holdings Report
for
Fidelity® Growth Discovery Fund
September 30, 2021
CII-NPRT1-1121
1.808775.117
Common Stocks - 99.7%
 
 
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 19.5%
 
 
 
Diversified Telecommunication Services - 0.8%
 
 
 
Cellnex Telecom SA (a)
 
455,879
28,120
Entertainment - 2.9%
 
 
 
Roblox Corp. (b)
 
26,400
1,995
Sea Ltd. ADR (b)
 
38,200
12,175
Take-Two Interactive Software, Inc. (b)
 
102,701
15,823
Universal Music Group NV
 
1,170,300
31,178
Warner Music Group Corp. Class A
 
846,741
36,190
 
 
 
97,361
Interactive Media & Services - 15.2%
 
 
 
Alphabet, Inc. Class A (b)
 
123,147
329,236
Facebook, Inc. Class A (b)
 
469,116
159,213
Snap, Inc. Class A (b)
 
87,000
6,427
Tongdao Liepin Group (b)
 
1,213,400
1,720
Zoominfo Technologies, Inc. (b)
 
150,900
9,234
 
 
 
505,830
Media - 0.6%
 
 
 
Cable One, Inc.
 
10,456
18,958
TOTAL COMMUNICATION SERVICES
 
 
650,269
CONSUMER DISCRETIONARY - 9.0%
 
 
 
Automobiles - 0.5%
 
 
 
Ferrari NV
 
78,763
16,471
Diversified Consumer Services - 0.8%
 
 
 
Laureate Education, Inc. Class A
 
1,457,600
24,765
Mister Car Wash, Inc. (c)
 
98,100
1,790
 
 
 
26,555
Hotels, Restaurants & Leisure - 0.8%
 
 
 
Airbnb, Inc. Class A
 
75,956
12,742
Dalata Hotel Group PLC (b)
 
300,600
1,420
Flutter Entertainment PLC (b)
 
59,400
11,684
 
 
 
25,846
Household Durables - 0.1%
 
 
 
Blu Investments LLC (b)(d)(e)
 
3,320,224
1
D.R. Horton, Inc.
 
48,400
4,064
 
 
 
4,065
Internet & Direct Marketing Retail - 5.6%
 
 
 
Amazon.com, Inc. (b)
 
56,093
184,268
Coupang, Inc. Class A (b)
 
26,000
724
Pinduoduo, Inc. ADR (b)
 
9,900
898
 
 
 
185,890
Specialty Retail - 0.4%
 
 
 
Aritzia, Inc. (b)
 
59,900
1,907
Victoria's Secret & Co.
 
190,400
10,522
 
 
 
12,429
Textiles, Apparel & Luxury Goods - 0.8%
 
 
 
LVMH Moet Hennessy Louis Vuitton SE
 
20,109
14,403
On Holding AG
 
7,900
238
Prada SpA
 
1,207,300
6,593
Samsonite International SA (a)(b)
 
2,950,772
6,337
 
 
 
27,571
TOTAL CONSUMER DISCRETIONARY
 
 
298,827
CONSUMER STAPLES - 2.1%
 
 
 
Beverages - 1.0%
 
 
 
Kweichow Moutai Co. Ltd. (A Shares)
 
25,857
7,316
Monster Beverage Corp. (b)
 
282,534
25,097
 
 
 
32,413
Household Products - 0.7%
 
 
 
Energizer Holdings, Inc.
 
245,853
9,601
Reckitt Benckiser Group PLC
 
177,326
13,931
 
 
 
23,532
Tobacco - 0.4%
 
 
 
Swedish Match Co. AB
 
1,727,000
15,116
TOTAL CONSUMER STAPLES
 
 
71,061
ENERGY - 1.5%
 
 
 
Oil, Gas & Consumable Fuels - 1.5%
 
 
 
Reliance Industries Ltd.
 
1,405,653
47,611
Reliance Industries Ltd.
 
88,203
2,213
 
 
 
49,824
FINANCIALS - 4.6%
 
 
 
Banks - 0.4%
 
 
 
HDFC Bank Ltd.
 
93,676
2,004
HDFC Bank Ltd. sponsored ADR
 
163,875
11,978
 
 
 
13,982
Capital Markets - 2.5%
 
 
 
BlackRock, Inc. Class A
 
23,000
19,289
CME Group, Inc.
 
131,273
25,386
Franklin Resources, Inc.
 
374,982
11,144
JMP Group, Inc. (b)
 
75,200
562
Morningstar, Inc.
 
19,900
5,155
MSCI, Inc.
 
26,527
16,137
S&P Global, Inc.
 
8,400
3,569
 
 
 
81,242
Consumer Finance - 0.4%
 
 
 
Capital One Financial Corp.
 
86,800
14,059
Insurance - 1.3%
 
 
 
American Financial Group, Inc.
 
107,255
13,496
Arthur J. Gallagher & Co.
 
161,477
24,004
BRP Group, Inc. (b)
 
155,999
5,193
 
 
 
42,693
TOTAL FINANCIALS
 
 
151,976
HEALTH CARE - 13.9%
 
 
 
Biotechnology - 3.3%
 
 
 
Adamas Pharmaceuticals, Inc. (b)(c)
 
722,700
3,548
Affimed NV (b)
 
251,902
1,557
Alnylam Pharmaceuticals, Inc. (b)
 
32,000
6,042
Applied Therapeutics, Inc. (b)
 
166,700
2,767
Atara Biotherapeutics, Inc. (b)
 
156,700
2,805
BioNTech SE ADR (b)
 
11,232
3,066
CRISPR Therapeutics AG (b)
 
34,800
3,895
Cytokinetics, Inc. (b)
 
77,100
2,756
Erasca, Inc.
 
38,400
815
Evelo Biosciences, Inc. (b)
 
22,800
161
Gamida Cell Ltd. (b)(c)
 
617,986
2,423
Hookipa Pharma, Inc. (b)
 
143,400
845
Innovent Biologics, Inc. (a)(b)
 
409,342
3,942
Insmed, Inc. (b)
 
239,178
6,587
Prelude Therapeutics, Inc.
 
11,400
356
Regeneron Pharmaceuticals, Inc. (b)
 
74,739
45,231
Rubius Therapeutics, Inc. (b)
 
54,080
967
Seres Therapeutics, Inc. (b)
 
64,900
452
Synlogic, Inc. (b)
 
448,100
1,367
Vertex Pharmaceuticals, Inc. (b)
 
87,298
15,835
Vor Biopharma, Inc. (b)
 
168,922
2,649
XOMA Corp. (b)
 
101,800
2,520
 
 
 
110,586
Health Care Equipment & Supplies - 3.0%
 
 
 
Axonics Modulation Technologies, Inc. (b)
 
85,329
5,554
Danaher Corp.
 
98,986
30,135
Edwards Lifesciences Corp. (b)
 
195,850
22,172
Insulet Corp. (b)
 
3,900
1,108
Intuitive Surgical, Inc. (b)
 
31,195
31,013
Medacta Group SA (a)(b)
 
5,410
845
Nevro Corp. (b)
 
20,500
2,386
Penumbra, Inc. (b)
 
21,300
5,676
 
 
 
98,889
Health Care Providers & Services - 4.0%
 
 
 
agilon health, Inc.
 
69,100
1,811
Guardant Health, Inc. (b)
 
45,200
5,650
HealthEquity, Inc. (c)
 
157,900
10,226
UnitedHealth Group, Inc.
 
300,991
117,609
 
 
 
135,296
Health Care Technology - 0.6%
 
 
 
Certara, Inc.
 
69,600
2,304
Doximity, Inc.
 
5,600
452
Schrodinger, Inc. (b)
 
35,700
1,952
Simulations Plus, Inc. (c)
 
38,500
1,521
Veeva Systems, Inc. Class A (b)
 
45,000
12,968
 
 
 
19,197
Life Sciences Tools & Services - 1.2%
 
 
 
10X Genomics, Inc. (b)
 
21,400
3,115
Berkeley Lights, Inc. (b)(c)
 
265,400
5,191
Bio-Techne Corp.
 
12,900
6,251
Bruker Corp.
 
220,959
17,257
Codexis, Inc. (b)(c)
 
200,602
4,666
Nanostring Technologies, Inc. (b)
 
45,596
2,189
Olink Holding AB ADR (b)
 
11,100
269
 
 
 
38,938
Pharmaceuticals - 1.8%
 
 
 
Aclaris Therapeutics, Inc. (b)
 
96,800
1,742
Eli Lilly & Co.
 
216,161
49,944
Nuvation Bio, Inc. (b)
 
119,094
1,184
Revance Therapeutics, Inc. (b)
 
169,418
4,720
Zoetis, Inc. Class A
 
17,900
3,475
 
 
 
61,065
TOTAL HEALTH CARE
 
 
463,971
INDUSTRIALS - 9.2%
 
 
 
Aerospace & Defense - 1.3%
 
 
 
Airbus Group NV (b)
 
213,239
28,270
Axon Enterprise, Inc. (b)
 
39,700
6,948
Northrop Grumman Corp.
 
22,200
7,995
 
 
 
43,213
Airlines - 0.8%
 
 
 
Ryanair Holdings PLC sponsored ADR (b)
 
231,412
25,469
Building Products - 0.2%
 
 
 
Builders FirstSource, Inc. (b)
 
134,331
6,950
Construction & Engineering - 0.4%
 
 
 
Fluor Corp. (b)
 
813,200
12,987
Electrical Equipment - 1.0%
 
 
 
Ballard Power Systems, Inc. (b)(c)
 
11,700
164
Bloom Energy Corp. Class A (b)(c)
 
58,800
1,101
Ceres Power Holdings PLC (b)
 
217,300
3,122
Eaton Corp. PLC
 
22,000
3,285
Encore Wire Corp.
 
55,738
5,286
Generac Holdings, Inc. (b)
 
49,196
20,105
 
 
 
33,063
Industrial Conglomerates - 1.3%
 
 
 
General Electric Co.
 
423,720
43,656
Machinery - 0.9%
 
 
 
Ingersoll Rand, Inc. (b)
 
397,837
20,055
Otis Worldwide Corp.
 
140,600
11,569
 
 
 
31,624
Professional Services - 2.1%
 
 
 
Clarivate Analytics PLC (b)
 
332,700
7,286
Equifax, Inc.
 
131,622
33,356
KBR, Inc.
 
378,132
14,898
Upwork, Inc. (b)
 
316,341
14,245
 
 
 
69,785
Road & Rail - 0.7%
 
 
 
Uber Technologies, Inc. (b)
 
544,331
24,386
Trading Companies & Distributors - 0.5%
 
 
 
Ferguson PLC
 
117,061
16,251
TOTAL INDUSTRIALS
 
 
307,384
INFORMATION TECHNOLOGY - 37.1%
 
 
 
Electronic Equipment & Components - 0.2%
 
 
 
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
1,174,000
4,386
Jabil, Inc.
 
35,900
2,095
 
 
 
6,481
IT Services - 4.5%
 
 
 
Adyen BV (a)(b)
 
3,900
10,902
Amadeus IT Holding SA Class A (b)
 
139,819
9,196
Cloudflare, Inc. (b)
 
42,587
4,797
MasterCard, Inc. Class A
 
28,000
9,735
MongoDB, Inc. Class A (b)
 
72,500
34,184
PayPal Holdings, Inc. (b)
 
174,260
45,344
Shopify, Inc. Class A (b)
 
10,379
14,088
Square, Inc.
 
66,368
15,918
VeriSign, Inc. (b)
 
35,300
7,237
 
 
 
151,401
Semiconductors & Semiconductor Equipment - 8.1%
 
 
 
Aixtron AG
 
292,813
7,280
ASML Holding NV
 
38,969
29,036
eMemory Technology, Inc.
 
24,000
1,680
Enphase Energy, Inc. (b)
 
76,500
11,473
NVIDIA Corp.
 
621,588
128,768
Qualcomm, Inc.
 
490,338
63,244
SiTime Corp. (b)
 
23,800
4,859
SolarEdge Technologies, Inc. (b)
 
33,782
8,960
Universal Display Corp.
 
83,700
14,309
 
 
 
269,609
Software - 19.0%
 
 
 
Adobe, Inc. (b)
 
193,992
111,685
Autodesk, Inc. (b)
 
39,900
11,378
Coupa Software, Inc. (b)(c)
 
74,700
16,373
Crowdstrike Holdings, Inc. (b)
 
19,300
4,744
CyberArk Software Ltd. (b)
 
115,071
18,161
Elastic NV (b)
 
1,800
268
Epic Games, Inc. (b)(d)(e)
 
2,244
1,986
FireEye, Inc. (b)
 
1,800,426
32,048
Intuit, Inc.
 
43,400
23,415
Manhattan Associates, Inc. (b)
 
128,963
19,735
Microsoft Corp.
 
1,204,616
339,599
Palo Alto Networks, Inc. (b)
 
105,786
50,671
SentinelOne, Inc.
 
14,900
798
Volue A/S
 
328,300
1,808
 
 
 
632,669
Technology Hardware, Storage & Peripherals - 5.3%
 
 
 
Apple, Inc.
 
1,135,198
160,631
Samsung Electronics Co. Ltd.
 
258,359
16,010
 
 
 
176,641
TOTAL INFORMATION TECHNOLOGY
 
 
1,236,801
MATERIALS - 2.5%
 
 
 
Chemicals - 2.3%
 
 
 
Albemarle Corp. U.S.
 
140,503
30,766
Axalta Coating Systems Ltd. (b)
 
144,400
4,215
Azelis Group NV
 
54,700
1,715
Corbion NV
 
45,100
2,179
Sherwin-Williams Co.
 
91,464
25,585
The Chemours Co. LLC
 
348,900
10,139
 
 
 
74,599
Metals & Mining - 0.2%
 
 
 
First Quantum Minerals Ltd.
 
175,800
3,255
Lynas Rare Earths Ltd. (b)
 
585,221
2,769
MP Materials Corp. (b)(c)
 
49,600
1,599
 
 
 
7,623
TOTAL MATERIALS
 
 
82,222
REAL ESTATE - 0.3%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.2%
 
 
 
Prologis (REIT), Inc.
 
56,500
7,087
Real Estate Management & Development - 0.1%
 
 
 
Doma Holdings, Inc. (d)(f)
 
331,286
2,452
TOTAL REAL ESTATE
 
 
9,539
UTILITIES - 0.0%
 
 
 
Independent Power and Renewable Electricity Producers - 0.0%
 
 
 
Brookfield Renewable Partners LP
 
41,100
1,517
 
TOTAL COMMON STOCKS
 (Cost $1,895,795)
 
 
 
3,323,391
 
 
 
 
Convertible Preferred Stocks - 0.3%
 
 
Shares
Value ($)
(000s)
 
HEALTH CARE - 0.0%
 
 
 
Biotechnology - 0.0%
 
 
 
ElevateBio LLC Series C (d)(e)
 
75,700
318
INFORMATION TECHNOLOGY - 0.1%
 
 
 
IT Services - 0.0%
 
 
 
AppNexus, Inc. Series E (Escrow) (b)(d)(e)
 
48,212
2
Software - 0.1%
 
 
 
ASAPP, Inc. Series C (b)(d)(e)
 
250,763
1,206
TOTAL INFORMATION TECHNOLOGY
 
 
1,208
MATERIALS - 0.2%
 
 
 
Metals & Mining - 0.2%
 
 
 
Illuminated Holdings, Inc.:
 
 
 
 Series C2 (b)(d)(e)
 
50,974
2,202
 Series C3 (b)(d)(e)
 
63,718
2,753
 Series C4 (b)(d)(e)
 
18,303
791
 Series C5 (d)(e)
 
36,887
1,594
 
 
 
7,340
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $7,411)
 
 
 
8,866
 
 
 
 
Money Market Funds - 0.8%
 
 
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 0.06% (g)
 
6,829,296
6,831
Fidelity Securities Lending Cash Central Fund 0.06% (g)(h)
 
20,848,171
20,850
 
TOTAL MONEY MARKET FUNDS
 (Cost $27,681)
 
 
27,681
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.8%
 (Cost $1,930,887)
 
 
 
3,359,938
NET OTHER ASSETS (LIABILITIES) - (0.8)%  
(26,022)
NET ASSETS - 100.0%
3,333,916
 
 
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
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 $50,146,000 or 1.5% 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 $13,305,000 or 0.4% of net assets.
 
(e)
Level 3 security
 
(f)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(g)
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.
 
(h)
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)
8/01/14
0
ASAPP, Inc. Series C
4/30/21
1,654
Blu Investments LLC
5/21/20
6
Doma Holdings, Inc.
3/02/21
3,313
ElevateBio LLC Series C
3/09/21
318
Epic Games, Inc.
3/29/21
1,986
Illuminated Holdings, Inc. Series C2
7/07/20
1,274
Illuminated Holdings, Inc. Series C3
7/07/20
1,912
Illuminated Holdings, Inc. Series C4
1/08/21
659
Illuminated Holdings, Inc. Series C5
6/16/21
1,594
 
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 0.06%
33,274
105,087
131,530
2
-
-
6,831
0.0%
Fidelity Securities Lending Cash Central Fund 0.06%
11,929
69,784
60,863
22
-
-
20,850
0.1%
Total
45,203
174,871
192,393
24
-
-
27,681
 
 
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. Securities 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 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.
 
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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