-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DQKIEDFJN4FUm7/TnZ018YAn2CjUUZ7e6XkX1pzVN44qh7DdgYIJ6wKsRNN4lkrj 3Orqjk2WTxDz406Cp+TJcQ== 0000719451-10-000015.txt : 20100429 0000719451-10-000015.hdr.sgml : 20100429 20100429141330 ACCESSION NUMBER: 0000719451-10-000015 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100228 FILED AS OF DATE: 20100429 DATE AS OF CHANGE: 20100429 EFFECTIVENESS DATE: 20100429 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY MT VERNON STREET TRUST CENTRAL INDEX KEY: 0000707823 IRS NUMBER: 042778701 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03583 FILM NUMBER: 10780737 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE ST CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 6174391706 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET STREET 2: MAILZONE Z1C CITY: BOSTOM STATE: MA ZIP: 02109 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY GROWTH COMPANY FUND DATE OF NAME CHANGE: 19910110 FORMER COMPANY: FORMER CONFORMED NAME: FIDELITY MERCURY FUND DATE OF NAME CHANGE: 19861216

0000707823 S000007118 Fidelity Growth Strategies Fund

C000019447 Fidelity Growth Strategies Fund FDEGX

C000064241 Class K

0000707823 S000007119 Fidelity Growth Company Fund

C000019448 Fidelity Growth Company Fund FDGRX

C000064242 Class K

C000076772 Class F

0000707823 S000007120 Fidelity New Millennium Fund

C000019449 Fidelity New Millennium Fund FMILX

0000707823 S000020981 Fidelity 130/30 Large Cap Fund

C000059581 Fidelity 130/30 Large Cap Fund

C000059582 Fidelity Advisor 130/30 Large Cap Fund: Class A

C000059583 Fidelity Advisor 130/30 Large Cap Fund: Class B

C000059584 Fidelity Advisor 130/30 Large Cap Fund: Class C

C000059585 Fidelity Advisor 130/30 Large Cap Fund: Class T

C000059586 Fidelity Advisor 130/30 Large Cap Fund: Institutional Class

N-Q 1 main.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-3583

Fidelity Mt. Vernon Street Trust
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Scott C. Goebel, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	November 30

Date of reporting period:	February 28, 2010

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Advisor 130/30
Large Cap Fund
Class A
Class T
Class B
Class C
Institutional Class

February 28, 2010

Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity® 130/30
Large Cap Fund

1.859224.101

AFLC-QTLY-0410

Investments February 28, 2010 (Unaudited)

Showing Percentage of Net Assets

LONG STOCK POSITIONS (c) - 126.1%
	Shares		Value
COMMON STOCKS - 126.1%
CONSUMER DISCRETIONARY - 12.1%
Auto Components - 0.8%
Autoliv, Inc.	500		$ 22,305
TRW Automotive Holdings Corp. (a)	8,500		228,395
			250,700
Hotels, Restaurants & Leisure - 2.4%
O'Charleys, Inc. (a)	9,300		75,237
Royal Caribbean Cruises Ltd. (a)	2,700		76,329
Starbucks Corp. (a)	6,500		148,915
Starwood Hotels & Resorts Worldwide, Inc.	3,900		150,930
Wyndham Worldwide Corp.	10,300		236,797
			688,208
Household Durables - 1.3%
iRobot Corp. (a)	4,600		74,474
Whirlpool Corp.	3,700		311,392
			385,866
Media - 2.1%
Time Warner, Inc.	5,000		145,200
Viacom, Inc. Class B (non-vtg.) (a)	15,400		456,610
			601,810
Multiline Retail - 0.6%
Macy's, Inc.	9,100		174,265
Specialty Retail - 2.3%
AnnTaylor Stores Corp. (a)	5,300		91,213
Best Buy Co., Inc.	7,400		270,100
Genesco, Inc. (a)	6,500		155,545
TJX Companies, Inc.	3,900		162,357
			679,215
Textiles, Apparel & Luxury Goods - 2.6%
Hanesbrands, Inc. (a)	15,600		404,508
Phillips-Van Heusen Corp.	8,200		356,864
			761,372
TOTAL CONSUMER DISCRETIONARY			3,541,436
CONSUMER STAPLES - 12.5%
Beverages - 5.4%
Anheuser-Busch InBev SA NV	16,965		849,077
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
CONSUMER STAPLES - continued
Beverages - continued
Constellation Brands, Inc. Class A (sub. vtg.) (a)	24,600		$ 369,984
Dr Pepper Snapple Group, Inc.	11,300		358,775
			1,577,836
Food Products - 4.5%
Chiquita Brands International, Inc. (a)	8,200		119,392
Corn Products International, Inc.	4,900		159,642
Fresh Del Monte Produce, Inc. (a)	7,000		135,870
General Mills, Inc.	4,300		309,643
Ralcorp Holdings, Inc. (a)	2,100		140,301
Tyson Foods, Inc. Class A	25,700		437,928
			1,302,776
Personal Products - 2.6%
Estee Lauder Companies, Inc. Class A	2,700		162,351
Herbalife Ltd.	1,800		72,090
MediFast, Inc. (a)	7,800		164,892
NBTY, Inc. (a)	1,900		86,260
Nu Skin Enterprises, Inc. Class A	5,400		144,288
Schiff Nutrition International, Inc.	18,000		140,760
			770,641
TOTAL CONSUMER STAPLES			3,651,253
ENERGY - 11.3%
Energy Equipment & Services - 2.7%
Noble Corp.	16,700		705,742
Oil States International, Inc. (a)	1,900		81,738
			787,480
Oil, Gas & Consumable Fuels - 8.6%
Berry Petroleum Co. Class A	3,400		91,120
Chevron Corp.	15,200		1,098,960
Cloud Peak Energy, Inc.	10,000		152,100
International Coal Group, Inc. (a)	37,500		163,500
Marathon Oil Corp.	29,100		842,445
XTO Energy, Inc.	3,600		164,520
			2,512,645
TOTAL ENERGY			3,300,125
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
FINANCIALS - 22.1%
Capital Markets - 5.7%
BlackRock, Inc. Class A	3,000		$ 656,400
Franklin Resources, Inc.	7,200		732,384
Goldman Sachs Group, Inc.	1,800		281,430
			1,670,214
Commercial Banks - 1.0%
Comerica, Inc.	4,100		147,928
M&T Bank Corp.	1,900		147,117
			295,045
Consumer Finance - 4.4%
American Express Co.	7,500		286,425
Capital One Financial Corp.	18,400		694,600
Discover Financial Services	21,900		298,935
			1,279,960
Diversified Financial Services - 5.2%
Bank of America Corp.	55,900		931,294
JPMorgan Chase & Co.	13,900		583,383
			1,514,677
Insurance - 5.2%
Assured Guaranty Ltd.	3,500		73,850
Conseco, Inc. (a)	29,500		146,910
Endurance Specialty Holdings Ltd.	4,300		165,378
FBL Financial Group, Inc. Class A	7,100		144,272
Genworth Financial, Inc. Class A (a)	19,700		314,018
Hartford Financial Services Group, Inc.	16,800		409,416
Lincoln National Corp.	3,000		75,540
XL Capital Ltd. Class A	9,400		171,738
			1,501,122
Real Estate Investment Trusts - 0.6%
Developers Diversified Realty Corp.	16,300		172,943
TOTAL FINANCIALS			6,433,961
HEALTH CARE - 18.8%
Biotechnology - 0.5%
Cephalon, Inc. (a)	2,100		144,207
Health Care Equipment & Supplies - 2.6%
CareFusion Corp. (a)	5,800		146,392
Covidien PLC	2,800		137,536
Hill-Rom Holdings, Inc.	2,900		76,096
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Hologic, Inc. (a)	4,400		$ 75,900
Intuitive Surgical, Inc. (a)	900		312,426
			748,350
Health Care Providers & Services - 5.5%
AmerisourceBergen Corp.	11,400		319,656
CIGNA Corp.	10,500		359,730
Community Health Systems, Inc. (a)	6,200		212,474
Humana, Inc. (a)	11,900		563,227
WellPoint, Inc. (a)	2,400		148,488
			1,603,575
Life Sciences Tools & Services - 2.0%
PerkinElmer, Inc.	13,400		297,614
Thermo Fisher Scientific, Inc. (a)	5,900		287,743
			585,357
Pharmaceuticals - 8.2%
Johnson & Johnson	4,700		296,100
King Pharmaceuticals, Inc. (a)	64,800		729,000
Merck & Co., Inc.	8,200		302,416
Mylan, Inc. (a)	10,700		228,338
Pfizer, Inc.	48,200		845,910
			2,401,764
TOTAL HEALTH CARE			5,483,253
INDUSTRIALS - 13.3%
Aerospace & Defense - 0.8%
LMI Aerospace, Inc. (a)	6,800		86,292
Raytheon Co.	2,900		163,096
			249,388
Airlines - 1.1%
Alaska Air Group, Inc. (a)	4,600		161,000
Hawaiian Holdings, Inc. (a)	18,900		147,042
			308,042
Building Products - 0.6%
Armstrong World Industries, Inc. (a)	2,000		73,640
Owens Corning (a)	4,800		112,944
			186,584
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 1.1%
APAC Customer Services, Inc. (a)	27,400		$ 141,932
R.R. Donnelley & Sons Co.	9,400		186,966
			328,898
Construction & Engineering - 0.3%
KBR, Inc.	3,900		80,769
Electrical Equipment - 0.9%
A.O. Smith Corp.	2,700		122,310
Canadian Solar, Inc. (a)	3,100		59,272
EnerSys (a)	3,200		72,928
			254,510
Industrial Conglomerates - 4.5%
General Electric Co.	19,600		314,776
Siemens AG sponsored ADR	1,600		138,016
Tyco International Ltd.	23,600		851,016
			1,303,808
Machinery - 4.0%
Bucyrus International, Inc. Class A	2,500		156,400
Cummins, Inc.	2,600		147,628
Ingersoll-Rand Co. Ltd.	10,700		341,437
Joy Global, Inc.	2,900		147,320
Oshkosh Co.	10,200		388,824
			1,181,609
TOTAL INDUSTRIALS			3,893,608
INFORMATION TECHNOLOGY - 25.8%
Communications Equipment - 2.7%
Cisco Systems, Inc. (a)	19,700		479,301
Harris Corp.	3,200		144,704
Plantronics, Inc.	6,100		173,423
			797,428
Computers & Peripherals - 7.9%
Hewlett-Packard Co.	25,400		1,290,066
Lexmark International, Inc. Class A (a)	2,100		70,791
SanDisk Corp. (a)	6,900		200,997
Seagate Technology	9,900		197,109
Western Digital Corp. (a)	14,200		548,546
			2,307,509
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Components - 3.4%
Avnet, Inc. (a)	2,700		$ 74,547
CPI International, Inc. (a)	5,600		69,048
Flextronics International Ltd. (a)	38,000		264,480
Jabil Circuit, Inc.	21,000		318,570
SYNNEX Corp. (a)	2,700		77,328
Vishay Intertechnology, Inc. (a)	17,400		178,350
			982,323
IT Services - 0.8%
WNS Holdings Ltd. sponsored ADR (a)	9,900		147,609
Wright Express Corp. (a)	2,500		70,800
			218,409
Office Electronics - 2.1%
Xerox Corp.	65,400		612,798
Semiconductors & Semiconductor Equipment - 3.7%
Amkor Technology, Inc. (a)	24,100		145,082
ASML Holding NV (NY Shares)	8,900		274,387
Fairchild Semiconductor International, Inc. (a)	16,100		166,152
Micron Technology, Inc. (a)	37,800		342,468
RF Micro Devices, Inc. (a)	35,500		149,455
			1,077,544
Software - 5.2%
Microsoft Corp.	38,700		1,109,142
Sybase, Inc. (a)	9,100		403,949
			1,513,091
TOTAL INFORMATION TECHNOLOGY			7,509,102
MATERIALS - 3.1%
Chemicals - 3.1%
Ashland, Inc.	2,500		117,700
Celanese Corp. Class A	4,800		149,712
Dow Chemical Co.	11,200		317,072
Solutia, Inc. (a)	10,700		150,549
W.R. Grace & Co. (a)	5,800		167,968
			903,001
TELECOMMUNICATION SERVICES - 2.1%
Diversified Telecommunication Services - 1.0%
AboveNet, Inc. (a)	4,800		293,376
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Wireless Telecommunication Services - 1.1%
NII Holdings, Inc. (a)	8,300		$ 310,586
TOTAL TELECOMMUNICATION SERVICES			603,962
UTILITIES - 5.0%
Gas Utilities - 0.5%
National Fuel Gas Co. New Jersey	2,900		144,246
Independent Power Producers & Energy Traders - 4.5%
AES Corp.	28,200		329,658
Constellation Energy Group, Inc.	12,500		438,375
NRG Energy, Inc. (a)	24,900		543,816
			1,311,849
TOTAL UTILITIES			1,456,095
TOTAL COMMON STOCKS (Cost $34,179,982)		36,775,796
TOTAL LONG STOCK POSITIONS - 126.1% (Cost $34,179,982)		36,775,796

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.06% to 0.1% 4/8/10 to 5/13/10 (b) (Cost $84,987)	$ 85,000	84,984

Money Market Funds - 2.9%
	Shares
Fidelity Cash Central Fund, 0.16% (d) (Cost $840,701)	840,701		840,701
TOTAL INVESTMENT PORTFOLIO - 129.3% (Cost $35,105,670)			37,701,481
TOTAL SECURITIES SOLD SHORT - (29.4)% (Proceeds $8,438,834)			(8,575,123)
NET OTHER ASSETS - 0.1%			27,847
NET ASSETS - 100%		$ 29,154,205

SHORT STOCK POSITIONS - (29.4)%
			Shares		Value

COMMON STOCKS - (29.4)%

CONSUMER DISCRETIONARY - (4.4)%
Diversified Consumer Services - (0.6)%
American Public Education, Inc.	(3,900)	$ (168,714)
Hotels, Restaurants & Leisure - (2.7)%
Boyd Gaming Corp.	(19,300)	(147,452)
Choice Hotels International, Inc.	(4,400)	(145,376)
Penn National Gaming, Inc.	(6,400)	(148,096)
Pinnacle Entertainment, Inc.	(30,200)	(218,346)
Yum! Brands, Inc.	(4,400)	(148,368)
		(807,638)
Multiline Retail - (0.5)%
JCPenney Co., Inc.	(5,600)	(154,448)
Textiles, Apparel & Luxury Goods - (0.6)%
K-Swiss, Inc. Class A	(17,400)	(162,516)
TOTAL CONSUMER DISCRETIONARY		(1,293,316)
FINANCIALS - (7.2)%
Capital Markets - (1.0)%
Eaton Vance Corp. (non-vtg.)	(4,800)	(144,912)
Federated Investors, Inc. Class B (non-vtg.)	(5,700)	(142,557)
		(287,469)
Commercial Banks - (2.5)%
First Horizon National Corp.	(16,356)	(209,357)
Glacier Bancorp, Inc.	(10,500)	(152,250)
TCF Financial Corp.	(15,600)	(225,264)
UMB Financial Corp.	(3,900)	(149,409)
		(736,280)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
FINANCIALS - continued
Insurance - (1.1)%
Aon Corp.	(4,000)	$ (163,760)
eHealth, Inc.	(8,500)	(141,950)
		(305,710)
Real Estate Investment Trusts - (2.1)%
Federal Realty Investment Trust (SBI)	(4,300)	(296,528)
Taubman Centers, Inc.	(8,000)	(309,840)
		(606,368)
Thrifts & Mortgage Finance - (0.5)%
People's United Financial, Inc.	(9,200)	(145,084)
TOTAL FINANCIALS		(2,080,911)
HEALTH CARE - (5.5)%
Biotechnology - (0.8)%
ONYX Pharmaceuticals, Inc.	(8,300)	(230,408)
Health Care Equipment & Supplies - (0.8)%
Gen-Probe, Inc.	(5,100)	(229,908)
Health Care Providers & Services - (1.0)%
CardioNet, Inc.	(24,300)	(145,557)
Patterson Companies, Inc.	(4,900)	(145,432)
		(290,989)
Health Care Technology - (2.9)%
athenahealth, Inc.	(5,500)	(202,620)
Eclipsys Corp.	(15,000)	(279,150)
MedAssets, Inc.	(7,100)	(153,715)
Quality Systems, Inc.	(3,500)	(200,340)
		(835,825)
TOTAL HEALTH CARE		(1,587,130)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
INDUSTRIALS - (2.8)%
Building Products - (0.9)%
Simpson Manufacturing Co. Ltd.	(11,100)	$ (272,838)
Machinery - (1.4)%
Gorman-Rupp Co.	(11,100)	(260,850)
Wabtec Corp.	(3,700)	(141,118)
		(401,968)
Road & Rail - (0.5)%
J.B. Hunt Transport Services, Inc.	(4,500)	(159,660)
TOTAL INDUSTRIALS		(834,466)
INFORMATION TECHNOLOGY - (7.6)%
Communications Equipment - (1.9)%
Ciena Corp.	(19,300)	(276,762)
Research In Motion Ltd.	(3,900)	(276,432)
		(553,194)
Electronic Equipment & Components - (1.1)%
Cogent, Inc.	(13,700)	(135,630)
FARO Technologies, Inc.	(7,400)	(177,156)
FLIR Systems, Inc.	(500)	(13,405)
		(326,191)
Internet Software & Services - (0.4)%
The Knot, Inc.	(15,000)	(114,750)
IT Services - (1.4)%
CyberSource Corp.	(7,700)	(131,901)
Paychex, Inc.	(9,200)	(275,448)
		(407,349)
Semiconductors & Semiconductor Equipment - (1.1)%
FormFactor, Inc.	(11,300)	(185,885)
Supertex, Inc.	(6,500)	(155,415)
		(341,300)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
INFORMATION TECHNOLOGY - continued
Software - (1.7)%
Autodesk, Inc.	(6,000)	$ (167,280)
Take-Two Interactive Software, Inc.	(15,200)	(146,224)
Websense, Inc.	(7,700)	(165,242)
		(478,746)
TOTAL INFORMATION TECHNOLOGY		(2,221,530)
UTILITIES - (1.9)%
Electric Utilities - (1.0)%
Progress Energy, Inc.	(3,900)	(149,331)
Southern Co.	(4,500)	(142,965)
		(292,296)
Independent Power Producers & Energy Traders - (0.4)%
Ormat Technologies, Inc.	(4,300)	(124,399)
Multi-Utilities - (0.5)%
Consolidated Edison, Inc.	(3,300)	(141,075)
TOTAL UTILITIES		(557,770)

TOTAL SHORT STOCK POSITIONS - (29.4)%

(Proceeds $8,438,834)

$ (8,575,123)

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
13 CME E-mini S&P 500 Index Contracts	March 2010	$ 717,210	$ (1,465)

The face value of futures purchased as a percentage of net assets - 2.5%

Legend

(a) Non-income producing

(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $84,984.

(d) Affiliated fund that is 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.

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
Fidelity Cash Central Fund	$ 216

Other Information

The following is a summary of the inputs used, as of February 28, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the table below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 3,541,436	$ 3,541,436	$ -	$ -
Consumer Staples	3,651,253	3,651,253	-	-
Energy	3,300,125	3,300,125	-	-
Financials	6,433,961	6,433,961	-	-
Health Care	5,483,253	5,483,253	-	-
Industrials	3,893,608	3,893,608	-	-
Information Technology	7,509,102	7,509,102	-	-
Materials	903,001	903,001	-	-
Telecommunication Services	603,962	603,962	-	-
Utilities	1,456,095	1,456,095	-	-
U.S. Government and Government Agency Obligations	84,984	-	84,984	-
Money Market Funds	840,701	840,701	-	-
Short Positions	(8,575,123)	(8,575,123)	-	-
Total Investments in Securities:	$ 29,126,358	$ 29,041,374	$ 84,984	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (1,465)	$ (1,465)	$ -	$ -

Income Tax Information

At February 28, 2010, the cost of investment securities for income tax purposes was $35,418,772. Net unrealized appreciation aggregated $2,282,709, of which $3,479,770 related to appreciated investment securities and $1,197,061 related to depreciated investment 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 Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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.

Long and short positions in 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 an independent 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 (last ask price to value short positions) or may be valued using the last available price and categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy. Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.

Debt securities, including restricted securities, are valued based on evaluated quotations received from independent pricing services or from dealers who make markets in such securities. For U.S. government and government agency obligations, pricing services utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices and are generally categorized as Level 2 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. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value and are categorized as Level 2 in the hierarchy.

When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing matrices which consider similar factors that would be used by independent pricing services. These are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.

For additional information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

Quarterly 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 visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of 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.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® 130/30
Large Cap Fund

February 28, 2010

1.859202.101

FLC-QTLY-0410

Investments February 28, 2010 (Unaudited)

Showing Percentage of Net Assets

LONG STOCK POSITIONS (c) - 126.1%
	Shares		Value
COMMON STOCKS - 126.1%
CONSUMER DISCRETIONARY - 12.1%
Auto Components - 0.8%
Autoliv, Inc.	500		$ 22,305
TRW Automotive Holdings Corp. (a)	8,500		228,395
			250,700
Hotels, Restaurants & Leisure - 2.4%
O'Charleys, Inc. (a)	9,300		75,237
Royal Caribbean Cruises Ltd. (a)	2,700		76,329
Starbucks Corp. (a)	6,500		148,915
Starwood Hotels & Resorts Worldwide, Inc.	3,900		150,930
Wyndham Worldwide Corp.	10,300		236,797
			688,208
Household Durables - 1.3%
iRobot Corp. (a)	4,600		74,474
Whirlpool Corp.	3,700		311,392
			385,866
Media - 2.1%
Time Warner, Inc.	5,000		145,200
Viacom, Inc. Class B (non-vtg.) (a)	15,400		456,610
			601,810
Multiline Retail - 0.6%
Macy's, Inc.	9,100		174,265
Specialty Retail - 2.3%
AnnTaylor Stores Corp. (a)	5,300		91,213
Best Buy Co., Inc.	7,400		270,100
Genesco, Inc. (a)	6,500		155,545
TJX Companies, Inc.	3,900		162,357
			679,215
Textiles, Apparel & Luxury Goods - 2.6%
Hanesbrands, Inc. (a)	15,600		404,508
Phillips-Van Heusen Corp.	8,200		356,864
			761,372
TOTAL CONSUMER DISCRETIONARY			3,541,436
CONSUMER STAPLES - 12.5%
Beverages - 5.4%
Anheuser-Busch InBev SA NV	16,965		849,077
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
CONSUMER STAPLES - continued
Beverages - continued
Constellation Brands, Inc. Class A (sub. vtg.) (a)	24,600		$ 369,984
Dr Pepper Snapple Group, Inc.	11,300		358,775
			1,577,836
Food Products - 4.5%
Chiquita Brands International, Inc. (a)	8,200		119,392
Corn Products International, Inc.	4,900		159,642
Fresh Del Monte Produce, Inc. (a)	7,000		135,870
General Mills, Inc.	4,300		309,643
Ralcorp Holdings, Inc. (a)	2,100		140,301
Tyson Foods, Inc. Class A	25,700		437,928
			1,302,776
Personal Products - 2.6%
Estee Lauder Companies, Inc. Class A	2,700		162,351
Herbalife Ltd.	1,800		72,090
MediFast, Inc. (a)	7,800		164,892
NBTY, Inc. (a)	1,900		86,260
Nu Skin Enterprises, Inc. Class A	5,400		144,288
Schiff Nutrition International, Inc.	18,000		140,760
			770,641
TOTAL CONSUMER STAPLES			3,651,253
ENERGY - 11.3%
Energy Equipment & Services - 2.7%
Noble Corp.	16,700		705,742
Oil States International, Inc. (a)	1,900		81,738
			787,480
Oil, Gas & Consumable Fuels - 8.6%
Berry Petroleum Co. Class A	3,400		91,120
Chevron Corp.	15,200		1,098,960
Cloud Peak Energy, Inc.	10,000		152,100
International Coal Group, Inc. (a)	37,500		163,500
Marathon Oil Corp.	29,100		842,445
XTO Energy, Inc.	3,600		164,520
			2,512,645
TOTAL ENERGY			3,300,125
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
FINANCIALS - 22.1%
Capital Markets - 5.7%
BlackRock, Inc. Class A	3,000		$ 656,400
Franklin Resources, Inc.	7,200		732,384
Goldman Sachs Group, Inc.	1,800		281,430
			1,670,214
Commercial Banks - 1.0%
Comerica, Inc.	4,100		147,928
M&T Bank Corp.	1,900		147,117
			295,045
Consumer Finance - 4.4%
American Express Co.	7,500		286,425
Capital One Financial Corp.	18,400		694,600
Discover Financial Services	21,900		298,935
			1,279,960
Diversified Financial Services - 5.2%
Bank of America Corp.	55,900		931,294
JPMorgan Chase & Co.	13,900		583,383
			1,514,677
Insurance - 5.2%
Assured Guaranty Ltd.	3,500		73,850
Conseco, Inc. (a)	29,500		146,910
Endurance Specialty Holdings Ltd.	4,300		165,378
FBL Financial Group, Inc. Class A	7,100		144,272
Genworth Financial, Inc. Class A (a)	19,700		314,018
Hartford Financial Services Group, Inc.	16,800		409,416
Lincoln National Corp.	3,000		75,540
XL Capital Ltd. Class A	9,400		171,738
			1,501,122
Real Estate Investment Trusts - 0.6%
Developers Diversified Realty Corp.	16,300		172,943
TOTAL FINANCIALS			6,433,961
HEALTH CARE - 18.8%
Biotechnology - 0.5%
Cephalon, Inc. (a)	2,100		144,207
Health Care Equipment & Supplies - 2.6%
CareFusion Corp. (a)	5,800		146,392
Covidien PLC	2,800		137,536
Hill-Rom Holdings, Inc.	2,900		76,096
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
HEALTH CARE - continued
Health Care Equipment & Supplies - continued
Hologic, Inc. (a)	4,400		$ 75,900
Intuitive Surgical, Inc. (a)	900		312,426
			748,350
Health Care Providers & Services - 5.5%
AmerisourceBergen Corp.	11,400		319,656
CIGNA Corp.	10,500		359,730
Community Health Systems, Inc. (a)	6,200		212,474
Humana, Inc. (a)	11,900		563,227
WellPoint, Inc. (a)	2,400		148,488
			1,603,575
Life Sciences Tools & Services - 2.0%
PerkinElmer, Inc.	13,400		297,614
Thermo Fisher Scientific, Inc. (a)	5,900		287,743
			585,357
Pharmaceuticals - 8.2%
Johnson & Johnson	4,700		296,100
King Pharmaceuticals, Inc. (a)	64,800		729,000
Merck & Co., Inc.	8,200		302,416
Mylan, Inc. (a)	10,700		228,338
Pfizer, Inc.	48,200		845,910
			2,401,764
TOTAL HEALTH CARE			5,483,253
INDUSTRIALS - 13.3%
Aerospace & Defense - 0.8%
LMI Aerospace, Inc. (a)	6,800		86,292
Raytheon Co.	2,900		163,096
			249,388
Airlines - 1.1%
Alaska Air Group, Inc. (a)	4,600		161,000
Hawaiian Holdings, Inc. (a)	18,900		147,042
			308,042
Building Products - 0.6%
Armstrong World Industries, Inc. (a)	2,000		73,640
Owens Corning (a)	4,800		112,944
			186,584
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 1.1%
APAC Customer Services, Inc. (a)	27,400		$ 141,932
R.R. Donnelley & Sons Co.	9,400		186,966
			328,898
Construction & Engineering - 0.3%
KBR, Inc.	3,900		80,769
Electrical Equipment - 0.9%
A.O. Smith Corp.	2,700		122,310
Canadian Solar, Inc. (a)	3,100		59,272
EnerSys (a)	3,200		72,928
			254,510
Industrial Conglomerates - 4.5%
General Electric Co.	19,600		314,776
Siemens AG sponsored ADR	1,600		138,016
Tyco International Ltd.	23,600		851,016
			1,303,808
Machinery - 4.0%
Bucyrus International, Inc. Class A	2,500		156,400
Cummins, Inc.	2,600		147,628
Ingersoll-Rand Co. Ltd.	10,700		341,437
Joy Global, Inc.	2,900		147,320
Oshkosh Co.	10,200		388,824
			1,181,609
TOTAL INDUSTRIALS			3,893,608
INFORMATION TECHNOLOGY - 25.8%
Communications Equipment - 2.7%
Cisco Systems, Inc. (a)	19,700		479,301
Harris Corp.	3,200		144,704
Plantronics, Inc.	6,100		173,423
			797,428
Computers & Peripherals - 7.9%
Hewlett-Packard Co.	25,400		1,290,066
Lexmark International, Inc. Class A (a)	2,100		70,791
SanDisk Corp. (a)	6,900		200,997
Seagate Technology	9,900		197,109
Western Digital Corp. (a)	14,200		548,546
			2,307,509
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Components - 3.4%
Avnet, Inc. (a)	2,700		$ 74,547
CPI International, Inc. (a)	5,600		69,048
Flextronics International Ltd. (a)	38,000		264,480
Jabil Circuit, Inc.	21,000		318,570
SYNNEX Corp. (a)	2,700		77,328
Vishay Intertechnology, Inc. (a)	17,400		178,350
			982,323
IT Services - 0.8%
WNS Holdings Ltd. sponsored ADR (a)	9,900		147,609
Wright Express Corp. (a)	2,500		70,800
			218,409
Office Electronics - 2.1%
Xerox Corp.	65,400		612,798
Semiconductors & Semiconductor Equipment - 3.7%
Amkor Technology, Inc. (a)	24,100		145,082
ASML Holding NV (NY Shares)	8,900		274,387
Fairchild Semiconductor International, Inc. (a)	16,100		166,152
Micron Technology, Inc. (a)	37,800		342,468
RF Micro Devices, Inc. (a)	35,500		149,455
			1,077,544
Software - 5.2%
Microsoft Corp.	38,700		1,109,142
Sybase, Inc. (a)	9,100		403,949
			1,513,091
TOTAL INFORMATION TECHNOLOGY			7,509,102
MATERIALS - 3.1%
Chemicals - 3.1%
Ashland, Inc.	2,500		117,700
Celanese Corp. Class A	4,800		149,712
Dow Chemical Co.	11,200		317,072
Solutia, Inc. (a)	10,700		150,549
W.R. Grace & Co. (a)	5,800		167,968
			903,001
TELECOMMUNICATION SERVICES - 2.1%
Diversified Telecommunication Services - 1.0%
AboveNet, Inc. (a)	4,800		293,376
LONG STOCK POSITIONS (c) - CONTINUED
	Shares		Value
TELECOMMUNICATION SERVICES - continued
Wireless Telecommunication Services - 1.1%
NII Holdings, Inc. (a)	8,300		$ 310,586
TOTAL TELECOMMUNICATION SERVICES			603,962
UTILITIES - 5.0%
Gas Utilities - 0.5%
National Fuel Gas Co. New Jersey	2,900		144,246
Independent Power Producers & Energy Traders - 4.5%
AES Corp.	28,200		329,658
Constellation Energy Group, Inc.	12,500		438,375
NRG Energy, Inc. (a)	24,900		543,816
			1,311,849
TOTAL UTILITIES			1,456,095
TOTAL COMMON STOCKS (Cost $34,179,982)		36,775,796
TOTAL LONG STOCK POSITIONS - 126.1% (Cost $34,179,982)		36,775,796

U.S. Treasury Obligations - 0.3%
	Principal Amount
U.S. Treasury Bills, yield at date of purchase 0.06% to 0.1% 4/8/10 to 5/13/10 (b) (Cost $84,987)	$ 85,000	84,984

Money Market Funds - 2.9%
	Shares
Fidelity Cash Central Fund, 0.16% (d) (Cost $840,701)	840,701		840,701
TOTAL INVESTMENT PORTFOLIO - 129.3% (Cost $35,105,670)			37,701,481
TOTAL SECURITIES SOLD SHORT - (29.4)% (Proceeds $8,438,834)			(8,575,123)
NET OTHER ASSETS - 0.1%			27,847
NET ASSETS - 100%		$ 29,154,205

SHORT STOCK POSITIONS - (29.4)%
			Shares		Value

COMMON STOCKS - (29.4)%

CONSUMER DISCRETIONARY - (4.4)%
Diversified Consumer Services - (0.6)%
American Public Education, Inc.	(3,900)	$ (168,714)
Hotels, Restaurants & Leisure - (2.7)%
Boyd Gaming Corp.	(19,300)	(147,452)
Choice Hotels International, Inc.	(4,400)	(145,376)
Penn National Gaming, Inc.	(6,400)	(148,096)
Pinnacle Entertainment, Inc.	(30,200)	(218,346)
Yum! Brands, Inc.	(4,400)	(148,368)
		(807,638)
Multiline Retail - (0.5)%
JCPenney Co., Inc.	(5,600)	(154,448)
Textiles, Apparel & Luxury Goods - (0.6)%
K-Swiss, Inc. Class A	(17,400)	(162,516)
TOTAL CONSUMER DISCRETIONARY		(1,293,316)
FINANCIALS - (7.2)%
Capital Markets - (1.0)%
Eaton Vance Corp. (non-vtg.)	(4,800)	(144,912)
Federated Investors, Inc. Class B (non-vtg.)	(5,700)	(142,557)
		(287,469)
Commercial Banks - (2.5)%
First Horizon National Corp.	(16,356)	(209,357)
Glacier Bancorp, Inc.	(10,500)	(152,250)
TCF Financial Corp.	(15,600)	(225,264)
UMB Financial Corp.	(3,900)	(149,409)
		(736,280)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
FINANCIALS - continued
Insurance - (1.1)%
Aon Corp.	(4,000)	$ (163,760)
eHealth, Inc.	(8,500)	(141,950)
		(305,710)
Real Estate Investment Trusts - (2.1)%
Federal Realty Investment Trust (SBI)	(4,300)	(296,528)
Taubman Centers, Inc.	(8,000)	(309,840)
		(606,368)
Thrifts & Mortgage Finance - (0.5)%
People's United Financial, Inc.	(9,200)	(145,084)
TOTAL FINANCIALS		(2,080,911)
HEALTH CARE - (5.5)%
Biotechnology - (0.8)%
ONYX Pharmaceuticals, Inc.	(8,300)	(230,408)
Health Care Equipment & Supplies - (0.8)%
Gen-Probe, Inc.	(5,100)	(229,908)
Health Care Providers & Services - (1.0)%
CardioNet, Inc.	(24,300)	(145,557)
Patterson Companies, Inc.	(4,900)	(145,432)
		(290,989)
Health Care Technology - (2.9)%
athenahealth, Inc.	(5,500)	(202,620)
Eclipsys Corp.	(15,000)	(279,150)
MedAssets, Inc.	(7,100)	(153,715)
Quality Systems, Inc.	(3,500)	(200,340)
		(835,825)
TOTAL HEALTH CARE		(1,587,130)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
INDUSTRIALS - (2.8)%
Building Products - (0.9)%
Simpson Manufacturing Co. Ltd.	(11,100)	$ (272,838)
Machinery - (1.4)%
Gorman-Rupp Co.	(11,100)	(260,850)
Wabtec Corp.	(3,700)	(141,118)
		(401,968)
Road & Rail - (0.5)%
J.B. Hunt Transport Services, Inc.	(4,500)	(159,660)
TOTAL INDUSTRIALS		(834,466)
INFORMATION TECHNOLOGY - (7.6)%
Communications Equipment - (1.9)%
Ciena Corp.	(19,300)	(276,762)
Research In Motion Ltd.	(3,900)	(276,432)
		(553,194)
Electronic Equipment & Components - (1.1)%
Cogent, Inc.	(13,700)	(135,630)
FARO Technologies, Inc.	(7,400)	(177,156)
FLIR Systems, Inc.	(500)	(13,405)
		(326,191)
Internet Software & Services - (0.4)%
The Knot, Inc.	(15,000)	(114,750)
IT Services - (1.4)%
CyberSource Corp.	(7,700)	(131,901)
Paychex, Inc.	(9,200)	(275,448)
		(407,349)
Semiconductors & Semiconductor Equipment - (1.1)%
FormFactor, Inc.	(11,300)	(185,885)
Supertex, Inc.	(6,500)	(155,415)
		(341,300)
SHORT STOCK POSITIONS - CONTINUED
	Shares	Value
INFORMATION TECHNOLOGY - continued
Software - (1.7)%
Autodesk, Inc.	(6,000)	$ (167,280)
Take-Two Interactive Software, Inc.	(15,200)	(146,224)
Websense, Inc.	(7,700)	(165,242)
		(478,746)
TOTAL INFORMATION TECHNOLOGY		(2,221,530)
UTILITIES - (1.9)%
Electric Utilities - (1.0)%
Progress Energy, Inc.	(3,900)	(149,331)
Southern Co.	(4,500)	(142,965)
		(292,296)
Independent Power Producers & Energy Traders - (0.4)%
Ormat Technologies, Inc.	(4,300)	(124,399)
Multi-Utilities - (0.5)%
Consolidated Edison, Inc.	(3,300)	(141,075)
TOTAL UTILITIES		(557,770)

TOTAL SHORT STOCK POSITIONS - (29.4)%

(Proceeds $8,438,834)

$ (8,575,123)

Futures Contracts
	Expiration Date	Underlying Face Amount at Value	Unrealized Appreciation/ (Depreciation)
Purchased
Equity Index Contracts
13 CME E-mini S&P 500 Index Contracts	March 2010	$ 717,210	$ (1,465)

The face value of futures purchased as a percentage of net assets - 2.5%

Legend

(a) Non-income producing

(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At the period end, the value of securities pledged amounted to $84,984.

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
Fidelity Cash Central Fund	$ 216

Other Information

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 3,541,436	$ 3,541,436	$ -	$ -
Consumer Staples	3,651,253	3,651,253	-	-
Energy	3,300,125	3,300,125	-	-
Financials	6,433,961	6,433,961	-	-
Health Care	5,483,253	5,483,253	-	-
Industrials	3,893,608	3,893,608	-	-
Information Technology	7,509,102	7,509,102	-	-
Materials	903,001	903,001	-	-
Telecommunication Services	603,962	603,962	-	-
Utilities	1,456,095	1,456,095	-	-
U.S. Government and Government Agency Obligations	84,984	-	84,984	-
Money Market Funds	840,701	840,701	-	-
Short Positions	(8,575,123)	(8,575,123)	-	-
Total Investments in Securities:	$ 29,126,358	$ 29,041,374	$ 84,984	$ -
Derivative Instruments:
Liabilities
Futures Contracts	$ (1,465)	$ (1,465)	$ -	$ -

Income Tax Information

Investment Valuation

Quarterly Report

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.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Growth Strategies Fund - Growth Strategies
Class K

February 28, 2010

1.797938.106

FEG-QTLY-0410

Investments February 28, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.3%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 18.3%
Auto Components - 1.2%
Johnson Controls, Inc.	754,800		$ 23,474
Diversified Consumer Services - 2.2%
DeVry, Inc.	341,736		21,581
Strayer Education, Inc.	97,600		22,139
			43,720
Hotels, Restaurants & Leisure - 2.2%
Las Vegas Sands Corp. (a)(c)	1,489,200		24,765
Starbucks Corp. (a)	878,143		20,118
			44,883
Household Durables - 1.3%
Harman International Industries, Inc.	588,786		25,400
Internet & Catalog Retail - 1.0%
Expedia, Inc.	898,256		19,977
Media - 2.5%
Discovery Communications, Inc. (a)	482,289		15,023
Focus Media Holding Ltd. ADR (a)(c)	650,300		10,034
McGraw-Hill Companies, Inc.	722,928		24,724
			49,781
Specialty Retail - 5.8%
Abercrombie & Fitch Co. Class A	648,500		23,618
Ross Stores, Inc.	373,245		18,255
TJX Companies, Inc.	811,513		33,783
Urban Outfitters, Inc. (a)	628,980		20,259
Zumiez, Inc. (a)(c)	1,396,781		20,030
			115,945
Textiles, Apparel & Luxury Goods - 2.1%
Hanesbrands, Inc. (a)	873,000		22,637
Polo Ralph Lauren Corp. Class A	243,925		19,497
			42,134
TOTAL CONSUMER DISCRETIONARY			365,314
CONSUMER STAPLES - 4.4%
Beverages - 2.7%
Heckmann Corp. (a)(c)(d)	8,966,600		53,620
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food Products - 1.7%
Bunge Ltd.	335,586		$ 19,998
Origin Agritech Ltd. (a)(c)(d)	1,612,100		14,267
			34,265
TOTAL CONSUMER STAPLES			87,885
ENERGY - 8.1%
Energy Equipment & Services - 3.6%
Exterran Holdings, Inc. (a)(c)	436,600		9,933
Helmerich & Payne, Inc.	532,800		21,589
Weatherford International Ltd. (a)	2,427,284		40,511
			72,033
Oil, Gas & Consumable Fuels - 4.5%
Alpha Natural Resources, Inc. (a)	408,520		18,796
Arch Coal, Inc.	887,310		19,956
CONSOL Energy, Inc.	434,100		21,861
Denbury Resources, Inc. (a)	1,304,237		18,364
Overseas Shipholding Group, Inc.	244,200		10,864
			89,841
TOTAL ENERGY			161,874
FINANCIALS - 6.7%
Capital Markets - 1.0%
Charles Schwab Corp.	1,051,200		19,247
Commercial Banks - 2.1%
Regions Financial Corp.	3,051,210		20,596
SunTrust Banks, Inc.	927,733		22,089
			42,685
Diversified Financial Services - 2.5%
Moody's Corp. (c)	952,598		25,358
MSCI, Inc. Class A (a)	825,192		24,739
			50,097
Real Estate Management & Development - 1.1%
Indiabulls Real Estate Ltd. (a)	6,047,361		21,013
TOTAL FINANCIALS			133,042
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - 14.8%
Biotechnology - 4.3%
Alexion Pharmaceuticals, Inc. (a)	408,485		$ 20,228
Alnylam Pharmaceuticals, Inc. (a)(c)	351,182		6,118
Dendreon Corp. (a)(c)	693,800		21,667
Human Genome Sciences, Inc. (a)	366,200		10,309
Isis Pharmaceuticals, Inc. (a)	938,383		8,295
Vertex Pharmaceuticals, Inc. (a)	485,100		19,700
			86,317
Health Care Equipment & Supplies - 8.0%
ArthroCare Corp. (a)(d)	2,658,403		70,636
Cyberonics, Inc. (a)(d)	2,425,881		43,302
Edwards Lifesciences Corp. (a)	217,851		20,005
NuVasive, Inc. (a)(c)	650,319		25,980
			159,923
Health Care Providers & Services - 1.0%
Community Health Systems, Inc. (a)	564,200		19,335
Health Care Technology - 1.1%
Cerner Corp. (a)	255,586		21,201
Pharmaceuticals - 0.4%
Inspire Pharmaceuticals, Inc. (a)	1,225,400		7,573
TOTAL HEALTH CARE			294,349
INDUSTRIALS - 16.9%
Aerospace & Defense - 2.0%
Precision Castparts Corp.	356,329		40,176
Air Freight & Logistics - 1.0%
C.H. Robinson Worldwide, Inc.	375,900		20,047
Building Products - 2.1%
Lennox International, Inc.	1,008,600		42,563
Construction & Engineering - 2.0%
Fluor Corp.	488,504		20,908
Jacobs Engineering Group, Inc. (a)	493,200		19,136
			40,044
Electrical Equipment - 1.0%
Cooper Industries PLC Class A	457,200		20,739
Machinery - 6.9%
AGCO Corp. (a)	591,328		20,253
Bucyrus International, Inc. Class A	347,900		21,765
Cummins, Inc.	419,200		23,802
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Machinery - continued
Flowserve Corp.	207,600		$ 20,779
IDEX Corp.	344,387		10,676
Ingersoll-Rand Co. Ltd.	610,300		19,475
Joy Global, Inc.	406,500		20,650
			137,400
Marine - 0.8%
Ultrapetrol (Bahamas) Ltd. (a)(d)	2,953,982		15,243
Road & Rail - 1.1%
CSX Corp.	443,800		21,063
TOTAL INDUSTRIALS			337,275
INFORMATION TECHNOLOGY - 24.4%
Communications Equipment - 2.2%
Juniper Networks, Inc. (a)	1,581,991		44,264
Computers & Peripherals - 2.0%
SanDisk Corp. (a)	689,548		20,087
Western Digital Corp. (a)	528,278		20,407
			40,494
Electronic Equipment & Components - 3.7%
Agilent Technologies, Inc. (a)	1,353,942		42,595
Avnet, Inc. (a)	770,600		21,276
Maxwell Technologies, Inc. (a)(c)	665,073		9,218
			73,089
Semiconductors & Semiconductor Equipment - 9.2%
Altera Corp.	1,304,208		31,862
ASM International NV (NASDAQ) (a)(c)	815,255		19,134
ASML Holding NV (NY Shares)	629,300		19,401
KLA-Tencor Corp.	657,530		19,154
Lam Research Corp. (a)	267,200		9,061
Marvell Technology Group Ltd. (a)	977,435		18,884
National Semiconductor Corp.	1,410,100		20,418
NVIDIA Corp. (a)	1,364,917		22,112
Xilinx, Inc.	867,187		22,399
			182,425
Software - 7.3%
Adobe Systems, Inc. (a)	600,500		20,807
ANSYS, Inc. (a)	481,253		21,108
Autonomy Corp. PLC (a)	794,638		18,542
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - continued
BMC Software, Inc. (a)	822,700		$ 30,308
Citrix Systems, Inc. (a)	495,700		21,320
Informatica Corp. (a)	854,928		21,818
VMware, Inc. Class A (a)	244,200		12,090
			145,993
TOTAL INFORMATION TECHNOLOGY			486,265
MATERIALS - 5.7%
Chemicals - 5.7%
Intrepid Potash, Inc. (a)(c)	717,700		19,751
Potash Corp. of Saskatchewan, Inc.	275,900		30,415
The Mosaic Co.	1,088,402		63,552
			113,718
TOTAL COMMON STOCKS (Cost $1,925,302)		1,979,722
Money Market Funds - 7.6%

Fidelity Cash Central Fund, 0.16% (e)	2,484,930		2,485
Fidelity Securities Lending Cash Central Fund, 0.17% (b)(e)	149,137,968		149,138
TOTAL MONEY MARKET FUNDS (Cost $151,623)		151,623
TOTAL INVESTMENT PORTFOLIO - 106.9% (Cost $2,076,925)			2,131,345
NET OTHER ASSETS - (6.9)%			(136,717)
NET ASSETS - 100%		$ 1,994,628

Legend

(a) Non-income producing

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

(d) Affiliated company

(e) Affiliated fund that is 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.

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	$ 5
Fidelity Securities Lending Cash Central Fund	225
Total	$ 230

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:

Affiliates (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
ArthroCare Corp.	$ 58,221	$ -	$ -	$ -	$ 70,636
Cyberonics, Inc.	44,285	7,035	8,421	-	43,302
Heckmann Corp.	38,825	-	-	-	53,620
Origin Agritech Ltd.	13,206	8,675	-	-	14,267
Ultrapetrol (Bahamas) Ltd.	13,647	-	-	-	15,243
Zumiez, Inc.	17,941	-	3,737	-	-
Total	$ 186,125	$ 15,710	$ 12,158	$ -	$ 197,068

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At February 28, 2010, the cost of investment securities for income tax purposes was $2,080,749,000. Net unrealized appreciation aggregated $50,596,000, of which $233,152,000 related to appreciated investment securities and $182,556,000 related to depreciated investment 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 Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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 an independent 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 categorized as Level 2 in the hierarchy. For foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® Growth Company Fund
Growth Company
Class K
Class F

February 28, 2010

1.797941.106

GCF-QTLY-0410

Investments February 28, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 99.7%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 12.3%
Auto Components - 0.2%
Johnson Controls, Inc.	2,375,000		$ 73,863
Automobiles - 0.1%
Ford Motor Co. (a)	4,050,000		47,547
Diversified Consumer Services - 0.3%
Coinstar, Inc. (a)(c)(d)	3,049,848		90,519
Hotels, Restaurants & Leisure - 4.9%
BJ's Restaurants, Inc. (a)(d)	2,677,414		57,297
Buffalo Wild Wings, Inc. (a)(c)(d)	1,802,300		79,211
Home Inns & Hotels Management, Inc. sponsored ADR (a)(c)	2,075,000		69,658
Hyatt Hotels Corp. Class A	4,373,440		146,204
McDonald's Corp.	3,300,000		210,705
Panera Bread Co. Class A (a)(c)	1,375,000		100,086
Starbucks Corp. (a)	30,288,400		693,907
Starwood Hotels & Resorts Worldwide, Inc.	3,275,000		126,743
The Cheesecake Factory, Inc. (a)(d)	3,265,000		77,217
			1,561,028
Household Durables - 0.9%
Gafisa SA sponsored ADR (c)	2,360,000		72,476
Pulte Homes, Inc. (a)	1,667,657		18,061
Tempur-Pedic International, Inc. (a)	1,490,000		42,316
Toll Brothers, Inc. (a)	200,000		3,766
Tupperware Brands Corp. (d)	3,165,000		147,900
Whirlpool Corp.	41,206		3,468
			287,987
Internet & Catalog Retail - 1.3%
Amazon.com, Inc. (a)	3,091,000		365,974
Priceline.com, Inc. (a)	295,000		66,894
			432,868
Media - 0.5%
Comcast Corp. Class A	4,197,500		69,007
DreamWorks Animation SKG, Inc. Class A (a)	850,000		36,941
News Corp. Class A	1,330,000		17,782
Time Warner, Inc.	900,650		26,155
			149,885
Multiline Retail - 1.3%
Dollar Tree, Inc. (a)	375,000		20,903
Kohl's Corp. (a)	1,340,000		72,119
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Multiline Retail - continued
Nordstrom, Inc.	2,250,000		$ 83,115
Target Corp.	4,465,000		230,037
			406,174
Specialty Retail - 1.7%
Bed Bath & Beyond, Inc. (a)	1,300,000		54,093
Best Buy Co., Inc.	1,937,500		70,719
CarMax, Inc. (a)	1,545,000		31,194
GameStop Corp. Class A (a)(c)	140,000		2,408
Home Depot, Inc.	1,660,000		51,792
J. Crew Group, Inc. (a)	520,800		21,915
Lowe's Companies, Inc.	3,745,800		88,813
Lumber Liquidators Holdings, Inc. (a)(d)	1,728,224		38,332
rue21, Inc.	575,400		16,537
Staples, Inc.	4,425,602		114,004
Tiffany & Co., Inc.	575,000		25,524
Urban Outfitters, Inc. (a)	565,000		18,199
			533,530
Textiles, Apparel & Luxury Goods - 1.1%
Coach, Inc.	187,200		6,822
Lululemon Athletica, Inc. (a)(c)(d)	6,716,625		192,431
NIKE, Inc. Class B	1,354,000		91,530
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)	2,005,000		61,614
			352,397
TOTAL CONSUMER DISCRETIONARY			3,935,798
CONSUMER STAPLES - 11.5%
Beverages - 2.9%
Dr Pepper Snapple Group, Inc.	7,620,000		241,935
PepsiCo, Inc.	4,641,640		289,963
The Coca-Cola Co.	7,312,500		385,515
			917,413
Food & Staples Retailing - 2.7%
Costco Wholesale Corp.	2,025,800		123,513
CVS Caremark Corp.	2,202,780		74,344
Kroger Co.	1,365,000		30,167
Safeway, Inc.	745,000		18,565
Wal-Mart Stores, Inc.	7,380,300		399,053
Common Stocks - continued
	Shares		Value (000s)
CONSUMER STAPLES - continued
Food & Staples Retailing - continued
Walgreen Co.	4,955,000		$ 174,614
Whole Foods Market, Inc. (a)(c)	1,690,000		59,978
			880,234
Food Products - 1.8%
Archer Daniels Midland Co.	865,000		25,396
Campbell Soup Co.	245,000		8,166
General Mills, Inc.	682,800		49,168
Green Mountain Coffee Roasters, Inc. (a)(c)(d)	2,219,326		187,289
Hershey Co.	385,000		15,308
Kellogg Co.	780,000		40,677
Sara Lee Corp.	1,300,000		17,628
Smithfield Foods, Inc. (a)(c)	3,225,000		55,502
Tyson Foods, Inc. Class A	9,630,000		164,095
			563,229
Household Products - 1.5%
Church & Dwight Co., Inc.	225,000		15,116
Clorox Co.	825,000		50,581
Colgate-Palmolive Co.	1,395,000		115,701
Kimberly-Clark Corp.	1,245,000		75,621
Procter & Gamble Co.	3,479,483		220,182
			477,201
Personal Products - 1.0%
Avon Products, Inc.	5,093,615		155,050
Herbalife Ltd.	1,375,000		55,069
Mead Johnson Nutrition Co. Class A	861,800		40,763
MediFast, Inc. (a)(c)(d)	1,504,000		31,795
Nu Skin Enterprises, Inc. Class A	1,685,000		45,023
			327,700
Tobacco - 1.6%
Altria Group, Inc.	5,780,380		116,301
Philip Morris International, Inc.	8,080,380		395,777
			512,078
TOTAL CONSUMER STAPLES			3,677,855
Common Stocks - continued
	Shares		Value (000s)
ENERGY - 5.2%
Energy Equipment & Services - 0.8%
FMC Technologies, Inc. (a)	925,000		$ 51,957
Schlumberger Ltd.	2,929,000		178,962
Transocean Ltd. (a)	400,000		31,928
			262,847
Oil, Gas & Consumable Fuels - 4.4%
Anadarko Petroleum Corp.	1,470,000		103,091
Apache Corp.	630,000		65,293
Cameco Corp.	2,375,000		65,229
Cenovus Energy, Inc.	235,000		5,740
Chesapeake Energy Corp.	11,200,000		297,584
Devon Energy Corp.	465,000		32,020
EnCana Corp.	235,000		7,703
Exxon Mobil Corp.	1,265,000		82,225
Peabody Energy Corp.	3,090,000		142,047
Petrohawk Energy Corp. (a)	4,501,100		96,324
Petroleo Brasileiro SA - Petrobras sponsored ADR	2,870,000		122,406
Range Resources Corp.	2,818,689		142,654
SandRidge Energy, Inc. (a)(c)	9,270,000		73,604
Southwestern Energy Co. (a)	3,932,461		167,326
			1,403,246
TOTAL ENERGY			1,666,093
FINANCIALS - 4.2%
Capital Markets - 0.8%
Charles Schwab Corp.	4,399,975		80,564
Franklin Resources, Inc.	520,000		52,894
Goldman Sachs Group, Inc.	190,000		29,707
Morgan Stanley	1,050,000		29,589
Northern Trust Corp.	745,000		39,701
The Blackstone Group LP	1,700,000		23,766
			256,221
Commercial Banks - 1.0%
HDFC Bank Ltd. sponsored ADR (c)	530,000		64,496
ICICI Bank Ltd. sponsored ADR (c)	2,085,000		79,751
PrivateBancorp, Inc. (c)	1,752,500		22,783
Signature Bank, New York (a)	656,885		24,456
Wells Fargo & Co.	4,652,300		127,194
			318,680
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Consumer Finance - 1.4%
American Express Co.	2,392,548		$ 91,371
Discover Financial Services	25,918,800		353,792
			445,163
Diversified Financial Services - 1.0%
Bank of America Corp.	4,500,000		74,970
BM&F BOVESPA SA	26,479,772		172,463
Citigroup, Inc.	9,523,800		32,381
JPMorgan Chase & Co.	1,025,000		43,019
			322,833
TOTAL FINANCIALS			1,342,897
HEALTH CARE - 19.2%
Biotechnology - 10.8%
Acadia Pharmaceuticals, Inc. (a)(d)	2,939,844		3,851
Acorda Therapeutics, Inc. (a)(d)	2,784,906		84,048
Affymax, Inc. (a)	1,035,000		19,355
Alexion Pharmaceuticals, Inc. (a)(d)	7,437,030		368,282
Alkermes, Inc. (a)(d)	10,182,261		116,689
Alnylam Pharmaceuticals, Inc. (a)(c)(d)	4,181,165		72,836
Amgen, Inc. (a)	2,975,000		168,415
Amylin Pharmaceuticals, Inc. (a)(c)(d)	14,174,245		267,893
Array Biopharma, Inc. (a)(d)	4,758,770		10,660
Biogen Idec, Inc. (a)	999,164		54,964
Celera Corp. (a)(d)	9,289,848		55,646
Celgene Corp. (a)	1,821,744		108,430
Cepheid, Inc. (a)(d)	5,812,775		87,773
Dendreon Corp. (a)(c)(d)	10,993,383		343,323
Exelixis, Inc. (a)(d)	10,573,821		68,413
Genzyme Corp. (a)	520,000		29,744
Gilead Sciences, Inc. (a)	1,700,000		80,937
Human Genome Sciences, Inc. (a)(c)(d)	14,998,332		422,203
ImmunoGen, Inc. (a)(d)	5,320,024		35,165
Immunomedics, Inc. (a)(c)(d)	7,516,200		28,486
InterMune, Inc. (d)	5,154,917		70,829
Isis Pharmaceuticals, Inc. (a)(d)	9,832,981		86,924
Metabolix, Inc. (a)	777,778		7,420
Micromet, Inc. (a)(c)(d)	4,451,291		33,118
Myriad Genetics, Inc. (a)	4,353,496		100,130
Myriad Pharmaceuticals, Inc. (a)(d)	2,395,624		11,523
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Biotechnology - continued
Pharmasset, Inc. (a)(d)	2,990,436		$ 63,427
Regeneron Pharmaceuticals, Inc. (a)	3,213,948		78,613
Rigel Pharmaceuticals, Inc. (a)(c)(d)	4,983,926		37,629
Seattle Genetics, Inc. (a)(d)	10,053,123		102,542
Transition Therapeutics, Inc. (a)(d)	2,332,446		6,162
Trubion Pharmaceuticals, Inc. (a)(c)	765,000		2,318
Vertex Pharmaceuticals, Inc. (a)(d)	10,843,067		440,337
			3,468,085
Health Care Equipment & Supplies - 1.2%
Baxter International, Inc.	905,000		51,522
CareFusion Corp. (a)	617,500		15,586
Edwards Lifesciences Corp. (a)	300,000		27,549
Insulet Corp. (a)(c)(d)	3,131,400		46,032
Medtronic, Inc.	1,529,964		66,400
NuVasive, Inc. (a)	365,424		14,599
St. Jude Medical, Inc. (a)	834,200		31,883
Thoratec Corp. (a)(c)(d)	4,012,265		115,754
			369,325
Health Care Providers & Services - 1.5%
Cardinal Health, Inc.	1,235,000		41,953
McKesson Corp.	2,555,000		151,128
Medco Health Solutions, Inc. (a)	2,512,720		158,904
UnitedHealth Group, Inc.	3,866,400		130,916
			482,901
Health Care Technology - 0.5%
athenahealth, Inc. (a)	1,094,485		40,321
Cerner Corp. (a)	1,260,000		104,517
			144,838
Life Sciences Tools & Services - 0.7%
Bruker BioSciences Corp. (a)	2,215,000		27,688
Illumina, Inc. (a)	3,314,878		120,396
Life Technologies Corp. (a)	1,410,000		71,572
			219,656
Pharmaceuticals - 4.5%
Abbott Laboratories	2,111,500		114,612
Allergan, Inc.	935,000		54,632
Auxilium Pharmaceuticals, Inc. (a)(c)(d)	4,577,511		138,241
Bristol-Myers Squibb Co.	2,489,700		61,023
Concert Pharmaceuticals, Inc. (a)(g)	186,198		151
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Pharmaceuticals - continued
Elan Corp. PLC sponsored ADR (a)	51,874,070		$ 355,856
Johnson & Johnson	6,463,300		407,188
MAP Pharmaceuticals, Inc. (a)(d)	2,440,914		33,489
Merck & Co., Inc.	4,275,668		157,687
Optimer Pharmaceuticals, Inc. (a)(c)	650,000		7,768
Teva Pharmaceutical Industries Ltd. sponsored ADR	2,060,000		123,621
			1,454,268
TOTAL HEALTH CARE			6,139,073
INDUSTRIALS - 6.4%
Aerospace & Defense - 1.0%
Honeywell International, Inc.	1,405,000		56,425
Lockheed Martin Corp.	1,140,100		88,654
Raytheon Co.	665,000		37,400
The Boeing Co.	834,800		52,726
United Technologies Corp.	1,325,000		90,961
			326,166
Air Freight & Logistics - 0.8%
United Parcel Service, Inc. Class B	4,239,000		248,999
Airlines - 1.4%
Delta Air Lines, Inc. (a)	14,955,446		193,224
JetBlue Airways Corp. (a)(c)(d)	29,354,243		154,990
Ryanair Holdings PLC sponsored ADR (a)	20,000		549
Southwest Airlines Co.	7,853,515		98,797
			447,560
Construction & Engineering - 0.2%
Fluor Corp.	1,315,000		56,282
Electrical Equipment - 0.3%
A123 Systems, Inc. (c)	1,371,800		22,594
American Superconductor Corp. (a)(c)	705,000		19,740
First Solar, Inc. (a)(c)	200,000		21,180
SunPower Corp. Class A (a)(c)	1,631,400		30,589
			94,103
Industrial Conglomerates - 0.6%
3M Co.	2,320,000		185,948
General Electric Co.	1,000,000		16,060
			202,008
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Machinery - 1.3%
Caterpillar, Inc.	4,020,000		$ 229,341
Cummins, Inc.	1,655,000		93,971
Danaher Corp.	985,000		72,860
Deere & Co.	555,000		31,802
			427,974
Road & Rail - 0.8%
CSX Corp.	490,000		23,255
Hertz Global Holdings, Inc. (a)(c)	8,590,000		80,746
Norfolk Southern Corp.	1,065,000		54,773
Union Pacific Corp.	1,560,000		105,097
			263,871
TOTAL INDUSTRIALS			2,066,963
INFORMATION TECHNOLOGY - 38.0%
Communications Equipment - 3.8%
Cisco Systems, Inc. (a)	19,352,600		470,849
F5 Networks, Inc. (a)	1,190,000		66,402
Infinera Corp. (a)(c)(d)	9,487,800		71,918
Juniper Networks, Inc. (a)	1,410,000		39,452
Palm, Inc. (a)(c)(d)	16,303,317		99,450
QUALCOMM, Inc.	8,293,400		304,285
Research In Motion Ltd. (a)	1,192,800		84,546
Riverbed Technology, Inc. (a)	3,270,000		89,108
			1,226,010
Computers & Peripherals - 7.0%
Apple, Inc. (a)	6,310,959		1,291,335
Hewlett-Packard Co.	7,835,000		397,940
International Business Machines Corp.	2,939,800		373,825
Lexmark International, Inc. Class A (a)	1,625,000		54,779
NetApp, Inc. (a)	2,727,208		81,844
SanDisk Corp. (a)	105,000		3,059
Synaptics, Inc. (a)(c)	869,461		23,215
			2,225,997
Electronic Equipment & Components - 0.2%
Corning, Inc.	1,508,000		26,586
Prime View International Co. Ltd. sponsored GDR (a)(e)	241,700		4,755
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Electronic Equipment & Components - continued
Trimble Navigation Ltd. (a)	140,000		$ 3,762
Universal Display Corp. (a)(c)(d)	3,670,445		38,650
			73,753
Internet Software & Services - 5.1%
Akamai Technologies, Inc. (a)	445,000		11,704
AOL, Inc. (a)	81,877		2,029
Baidu.com, Inc. sponsored ADR (a)	290,000		150,417
eBay, Inc. (a)	5,852,200		134,718
Google, Inc. Class A (a)	1,747,448		920,556
Internet Capital Group, Inc. (a)(d)	3,850,000		26,180
Mercadolibre, Inc. (a)(c)	350,000		14,399
OpenTable, Inc. (c)(d)	1,991,900		67,884
VeriSign, Inc. (a)	890,000		22,179
VistaPrint Ltd. (a)(d)	3,719,300		214,678
Yahoo!, Inc. (a)	5,061,340		77,489
			1,642,233
IT Services - 2.6%
Cognizant Technology Solutions Corp. Class A (a)	1,734,716		83,492
MasterCard, Inc. Class A	190,000		42,630
The Western Union Co.	1,360,000		21,461
VeriFone Holdings, Inc. (a)(d)	8,463,300		163,342
Visa, Inc. Class A	5,944,100		506,913
			817,838
Semiconductors & Semiconductor Equipment - 9.0%
Advanced Micro Devices, Inc. (a)	2,200,000		17,402
Applied Materials, Inc.	7,290,400		89,234
ASML Holding NV (NY Shares)	648,888		20,005
Atheros Communications, Inc. (a)(d)	6,243,666		224,085
Atheros Communications, Inc. (a)(d)(g)	1,741,486		62,502
Broadcom Corp. Class A	3,860,000		120,895
Cree, Inc. (a)(d)	9,216,131		625,130
Cypress Semiconductor Corp. (a)(d)	15,976,000		189,156
Intel Corp.	17,965,800		368,838
International Rectifier Corp. (a)(d)	4,895,000		99,026
KLA-Tencor Corp.	510,000		14,856
Linear Technology Corp.	625,800		17,003
Marvell Technology Group Ltd. (a)	1,918,310		37,062
Mellanox Technologies Ltd. (a)(d)	3,023,300		57,019
NVIDIA Corp. (a)	16,425,000		266,085
Power Integrations, Inc. (d)	2,961,308		106,489
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Rambus, Inc. (a)(c)(d)	10,541,800		$ 231,393
Rubicon Technology, Inc. (a)(c)(d)	2,061,630		32,368
Samsung Electronics Co. Ltd.	50,000		32,069
Silicon Laboratories, Inc. (a)	2,140,000		97,242
Tessera Technologies, Inc. (a)(d)	4,021,903		72,233
Texas Instruments, Inc.	2,236,000		54,514
Volterra Semiconductor Corp. (a)(d)	2,150,000		46,935
			2,881,541
Software - 10.3%
Activision Blizzard, Inc.	750,000		7,973
Adobe Systems, Inc. (a)	843,236		29,218
ArcSight, Inc. (a)(d)	3,317,419		88,907
Citrix Systems, Inc. (a)	2,783,082		119,700
Electronic Arts, Inc. (a)	60,000		995
Fortinet, Inc.	1,376,686		23,651
Microsoft Corp.	32,260,000		924,572
Oracle Corp.	6,105,000		150,488
Red Hat, Inc. (a)(d)	18,800,691		527,359
Salesforce.com, Inc. (a)(d)	12,235,594		831,409
Solera Holdings, Inc.	2,050,051		70,030
SuccessFactors, Inc. (a)(d)	6,551,825		118,654
Sybase, Inc. (a)	3,698,536		164,178
TiVo, Inc. (a)(d)	10,693,329		101,373
VMware, Inc. Class A (a)	2,787,533		138,011
			3,296,518
TOTAL INFORMATION TECHNOLOGY			12,163,890
MATERIALS - 2.8%
Chemicals - 1.9%
Dow Chemical Co.	5,180,000		146,646
Minerals Technologies, Inc. (d)	1,927,580		94,124
Monsanto Co.	2,404,978		169,912
OM Group, Inc. (a)(d)	2,360,000		81,231
Potash Corp. of Saskatchewan, Inc.	226,200		24,936
The Mosaic Co.	1,470,000		85,833
			602,682
Metals & Mining - 0.9%
Alcoa, Inc.	5,750,000		76,475
Barrick Gold Corp.	1,479,000		55,730
Common Stocks - continued
	Shares		Value (000s)
MATERIALS - continued
Metals & Mining - continued
Brush Engineered Materials, Inc. (a)(d)	1,200,000		$ 24,648
Freeport-McMoRan Copper & Gold, Inc.	1,025,000		77,039
Nucor Corp.	200,000		8,280
Vale SA sponsored ADR (c)	1,436,000		40,007
			282,179
TOTAL MATERIALS			884,861
TELECOMMUNICATION SERVICES - 0.1%
Wireless Telecommunication Services - 0.1%
Clearwire Corp. Class A (a)(c)	2,588,733		16,464
Sprint Nextel Corp. (a)	1,000,000		3,330
			19,794
UTILITIES - 0.0%
Independent Power Producers & Energy Traders - 0.0%
Indiabulls Power Ltd.	559,802		356
TOTAL COMMON STOCKS (Cost $27,109,938)		31,897,580
Convertible Preferred Stocks - 0.1%

HEALTH CARE - 0.1%
Biotechnology - 0.0%
Pacific Biosciences of California, Inc. 8.00% (a)(g)	714,286		4,286
Perlegen Sciences, Inc. Series D, 8.00% (a)(g)	12,820,512		0*
			4,286
Pharmaceuticals - 0.1%
Concert Pharmaceuticals, Inc. Series C, 6.00% (a)(g)	4,000,000		7,160
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $35,000)		11,446
Money Market Funds - 2.6%
	Shares		Value (000s)
Fidelity Cash Central Fund, 0.16% (f)	20,524,499		$ 20,524
Fidelity Securities Lending Cash Central Fund, 0.17% (b)(f)	818,361,186		818,361
TOTAL MONEY MARKET FUNDS (Cost $838,885)		838,885
TOTAL INVESTMENT PORTFOLIO - 102.4% (Cost $27,983,823)			32,747,911
NET OTHER ASSETS - (2.4)%			(757,849)
NET ASSETS - 100%		$ 31,990,062

Legend

(a) Non-income producing

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

(d) Affiliated company

(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 $4,755,000 or 0.0% of net assets.

(f) Affiliated fund that is 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.

* Amount represents less than $1,000.

(g) Restricted securities - 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 $74,099,000 or 0.2% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Atheros Communications, Inc.	4/18/01	$ 15,000
Concert Pharmaceuticals, Inc.	2/9/09	$ 151
Concert Pharmaceuticals, Inc. Series C, 6.00%	4/25/08	$ 10,000
Pacific Biosciences of California, Inc. 8.00%	7/11/08	$ 5,000
Perlegen Sciences, Inc. Series D, 8.00%	2/23/05	$ 20,000

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	$ 21
Fidelity Securities Lending Cash Central Fund	14,315
Total	$ 14,336

Other Affiliated Issuers

Affiliates (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Acadia Pharmaceuticals, Inc.	$ 3,616	$ -	$ -	$ -	$ 3,851
Acorda Therapeutics, Inc.	67,061	-	-	-	84,048
Alexion Pharmaceuticals, Inc.	337,269	-	-	-	368,282
Alkermes, Inc.	91,437	-	-	-	116,689
Alnylam Pharmaceuticals, Inc.	70,285	-	-	-	72,836
Amylin Pharmaceuticals, Inc.	202,125	-	-	-	267,893
ArcSight, Inc.	75,471	-	-	-	88,907
Array Biopharma, Inc.	8,185	-	-	-	10,660
Atheros Communications, Inc.	177,757	-	-	-	224,085
Atheros Communications, Inc. (restricted)	49,580	-	-	-	62,502
Auxilium Pharmaceuticals, Inc.	159,618	-	-	-	138,241
BJ's Restaurants, Inc.	45,651	64	-	-	57,297
Brush Engineered Materials, Inc.	21,240	-	-	-	24,648
Buffalo Wild Wings, Inc.	71,984	-	-	-	79,211
Celera Corp.	57,969	-	-	-	55,646
Cepheid, Inc.	71,962	-	-	-	87,773
Coinstar, Inc.	81,705	-	-	-	90,519
Cree, Inc.	440,808	-	-	-	625,130
Cypress Semiconductor Corp.	152,890	-	-	-	189,156
Dendreon Corp.	243,924	52,713	-	-	343,323
Exelixis, Inc.	72,261	67	-	-	68,413
Affiliates (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Green Mountain Coffee Roasters, Inc.	$ 183,859	$ -	$ 43,628	$ -	$ 187,289
Human Genome Sciences, Inc.	385,026	33,012	-	-	422,203
ImmunoGen, Inc.	30,884	9,364	-	-	35,165
Immunomedics, Inc.	23,300	-	-	-	28,486
Infinera Corp.	78,085	-	-	-	71,918
Insulet Corp.	38,391	-	-	-	46,032
InterMune, Inc.	49,490	7,711	-	-	70,829
International Rectifier Corp.	91,634	-	-	-	99,026
Internet Capital Group, Inc.	24,756	-	-	-	26,180
Isis Pharmaceuticals, Inc.	105,311	-	-	-	86,924
JetBlue Airways Corp.	161,742	-	-	-	154,990
Lululemon Athletica, Inc.	174,034	2,000	-	-	192,431
Lumber Liquidators Holdings, Inc.	34,702	6,807	-	-	38,332
MAP Pharmaceuticals, Inc.	22,090	-	-	-	33,489
MediFast, Inc.	19,561	26,098	6,583	-	31,795
Mellanox Technologies Ltd.	54,873	-	-	-	57,019
Micromet, Inc.	28,527	2,125	-	-	33,118
Minerals Technologies, Inc.	101,853	-	-	96	94,124
Myriad Pharmaceuticals, Inc.	12,002	-	-	-	11,523
OM Group, Inc.	72,287	-	-	-	81,231
OpenTable, Inc.	48,023	4,844	-	-	67,884
Palm, Inc.	174,713	3,176	-	-	99,450
Pharmasset, Inc.	55,781	3,750	-	-	63,427
Power Integrations, Inc.	99,470	-	-	148	106,489
Rambus, Inc.	180,481	9,474	-	-	231,393
Red Hat, Inc.	501,978	-	-	-	527,359
Rigel Pharmaceuticals, Inc.	37,728	-	-	-	37,629
Rubicon Technology, Inc.	35,914	-	-	-	32,368
Salesforce.com, Inc.	762,138	5,061	-	-	831,409
SandRidge Energy, Inc.	86,953	-	-	-	-
Seattle Genetics, Inc.	88,551	4,479	-	-	102,542
Solera Holdings, Inc.	123,236	-	51,738	139	-
SuccessFactors, Inc.	98,670	-	-	-	118,654
Sybase, Inc.	187,329	783	40,372	-	-
Tessera Technologies, Inc.	51,604	47,818	-	-	72,233
The Cheesecake Factory, Inc.	56,396	5,647	-	-	77,217
Thoratec Corp.	132,037	-	12,628	-	115,754
TiVo, Inc.	104,082	1,723	-	-	101,373
Affiliates (Amounts in thousands)	Value, beginning of period	Purchases	Sales Proceeds	Dividend Income	Value, end of period
Transition Therapeutics, Inc.	$ 18,562	$ -	$ -	$ -	$ 6,162
Trubion Pharmaceuticals, Inc.	5,387	-	2,548	-	-
Tupperware Brands Corp.	138,486	27,393	17,166	744	147,900
Universal Display Corp.	39,200	-	-	-	38,650
VeriFone Holdings, Inc.	104,363	10,973	-	-	163,342
Vertex Pharmaceuticals, Inc.	367,744	54,936	-	-	440,337
VistaPrint Ltd.	201,013	10,548	-	-	214,678
Volterra Semiconductor Corp.	35,454	-	-	-	46,935
Total	$ 7,930,498	$ 330,566	$ 174,663	$ 1,127	$ 8,504,399

Other Information

The following is a summary of the inputs used, as of February 28, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 3,935,798	$ 3,935,798	$ -	$ -
Consumer Staples	3,677,855	3,677,855	-	-
Energy	1,666,093	1,666,093	-	-
Financials	1,342,897	1,342,897	-	-
Health Care	6,150,519	6,138,922	-	11,597
Industrials	2,066,963	2,066,963	-	-
Information Technology	12,163,890	12,163,890	-	-
Materials	884,861	884,861	-	-
Telecommunication Services	19,794	19,794	-	-
Utilities	356	356	-	-
Money Market Funds	838,885	838,885	-	-
Total Investments in Securities	$ 32,747,911	$ 32,736,314	$ -	$ 11,597

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities: (Amounts in thousands)
Beginning Balance	$ 11,597
Total Realized Gain (Loss)	-
Total Unrealized Gain (Loss)	-
Cost of Purchases	-
Proceeds of Sales	-
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ 11,597
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2010	$ -

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At February 28, 2010, the cost of investment securities for income tax purposes was $28,340,296,000. Net unrealized appreciation aggregated $4,407,615,000, of which $7,590,342,000 related to appreciated investment securities and $3,182,727,000 related to depreciated investment 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 Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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.

Quarterly Report

or an affiliate.

Quarterly Report

Quarterly Holdings Report

for

Fidelity ® New Millennium Fund®

February 28, 2010

1.797943.106

NMF-QTLY-0410

Investments February 28, 2010 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.7%
	Shares		Value (000s)
CONSUMER DISCRETIONARY - 12.9%
Auto Components - 1.1%
Johnson Controls, Inc.	315,500		$ 9,812
Tenneco, Inc. (a)	409,900		8,264
			18,076
Automobiles - 0.6%
Ford Motor Co. (a)	800,000		9,392
Distributors - 0.8%
Li & Fung Ltd.	3,039,600		14,136
Hotels, Restaurants & Leisure - 1.1%
Hong Kong & Shanghai Hotels Ltd.	1,037,500		1,449
Red Robin Gourmet Burgers, Inc. (a)	144,268		2,861
Royal Caribbean Cruises Ltd. (a)(c)	199,100		5,629
Starwood Hotels & Resorts Worldwide, Inc.	203,900		7,891
			17,830
Household Durables - 0.6%
Newell Rubbermaid, Inc.	397,200		5,462
Toll Brothers, Inc. (a)	285,700		5,380
			10,842
Internet & Catalog Retail - 0.3%
Expedia, Inc.	225,600		5,017
Leisure Equipment & Products - 1.1%
Brunswick Corp.	910,542		10,508
Eastman Kodak Co. (a)(c)	792,401		4,707
Pool Corp. (c)	172,300		3,443
			18,658
Media - 2.4%
DIRECTV (a)	260,300		8,811
DISH Network Corp. Class A	219,000		4,373
DreamWorks Animation SKG, Inc. Class A (a)	63,200		2,747
Martha Stewart Living Omnimedia, Inc. Class A (a)(c)	438,539		2,346
The Walt Disney Co.	447,100		13,967
Viacom, Inc. Class B (non-vtg.) (a)	267,100		7,920
			40,164
Multiline Retail - 0.5%
Target Corp.	172,900		8,908
Specialty Retail - 3.8%
Best Buy Co., Inc.	175,700		6,413
Home Depot, Inc.	427,700		13,344
Lithia Motors, Inc. Class A (sub. vtg.) (a)	400,000		2,552
Lowe's Companies, Inc.	585,400		13,880
Common Stocks - continued
	Shares		Value (000s)
CONSUMER DISCRETIONARY - continued
Specialty Retail - continued
MarineMax, Inc. (a)	849,882		$ 8,992
Ross Stores, Inc.	80,400		3,932
Sally Beauty Holdings, Inc. (a)	362,800		2,971
Staples, Inc.	240,800		6,203
TJX Companies, Inc.	143,600		5,978
			64,265
Textiles, Apparel & Luxury Goods - 0.6%
Hanesbrands, Inc. (a)	200,000		5,186
Ports Design Ltd. (c)	1,850,100		4,562
			9,748
TOTAL CONSUMER DISCRETIONARY			217,036
CONSUMER STAPLES - 5.7%
Food & Staples Retailing - 0.6%
United Natural Foods, Inc. (a)	181,900		5,342
Whole Foods Market, Inc. (a)(c)	150,000		5,324
			10,666
Food Products - 3.0%
Ausnutria Dairy Hunan Co. Ltd. Class H	8,733,000		6,222
Danone	113,067		6,612
General Mills, Inc.	125,000		9,001
Green Mountain Coffee Roasters, Inc. (a)(c)	250,675		21,154
Hain Celestial Group, Inc. (a)	65,474		1,039
Ralcorp Holdings, Inc. (a)	88,300		5,899
			49,927
Household Products - 1.3%
Energizer Holdings, Inc. (a)	86,900		5,036
Procter & Gamble Co.	275,000		17,402
			22,438
Personal Products - 0.6%
Mead Johnson Nutrition Co. Class A	113,100		5,350
Nu Skin Enterprises, Inc. Class A	150,000		4,008
			9,358
Tobacco - 0.2%
British American Tobacco PLC sponsored ADR	62,300		4,230
TOTAL CONSUMER STAPLES			96,619
Common Stocks - continued
	Shares		Value (000s)
ENERGY - 8.1%
Energy Equipment & Services - 0.4%
North American Energy Partners, Inc. (a)	300,000		$ 3,057
Weatherford International Ltd. (a)	267,200		4,460
			7,517
Oil, Gas & Consumable Fuels - 7.7%
Alpha Natural Resources, Inc. (a)	128,400		5,908
Arch Coal, Inc.	135,000		3,036
BG Group PLC	250,000		4,366
Chevron Corp.	269,800		19,507
Denbury Resources, Inc. (a)	578,000		8,138
Imperial Oil Ltd.	84,500		3,112
Marathon Oil Corp.	281,000		8,135
Niko Resources Ltd.	52,600		4,999
Occidental Petroleum Corp.	314,200		25,089
Petrohawk Energy Corp. (a)	200,000		4,280
Plains Exploration & Production Co. (a)	100,000		3,281
SouthGobi Energy Resources Ltd. (a)(c)	239,700		3,736
Southwestern Energy Co. (a)	100,000		4,255
XTO Energy, Inc.	682,500		31,190
			129,032
TOTAL ENERGY			136,549
FINANCIALS - 21.4%
Capital Markets - 3.0%
Bank of New York Mellon Corp.	322,600		9,201
Charles Schwab Corp.	313,000		5,731
Goldman Sachs Group, Inc.	50,000		7,818
Morgan Stanley	345,100		9,725
Northern Trust Corp.	109,500		5,835
State Street Corp.	160,000		7,186
T. Rowe Price Group, Inc.	108,000		5,475
			50,971
Commercial Banks - 5.1%
Alliance Financial Corp.	112,000		3,008
BB&T Corp.	325,000		9,272
BOK Financial Corp. (c)	58,100		2,671
Comerica, Inc.	157,800		5,693
First Horizon National Corp.	1,158		15
FirstMerit Corp.	318,654		6,736
M&T Bank Corp. (c)	74,800		5,792
Common Stocks - continued
	Shares		Value (000s)
FINANCIALS - continued
Commercial Banks - continued
PNC Financial Services Group, Inc.	248,900		$ 13,381
Regions Financial Corp.	1,000,000		6,750
Standard Chartered PLC (United Kingdom)	146,462		3,489
Webster Financial Corp.	190,200		3,043
Wells Fargo & Co.	928,800		25,393
			85,243
Diversified Financial Services - 7.1%
Bank of America Corp.	2,058,600		34,296
Citigroup, Inc.	3,109,700		10,573
Climate Exchange PLC (a)	200,800		1,592
Hong Kong Exchanges and Clearing Ltd.	190,300		3,185
JPMorgan Chase & Co.	806,000		33,828
KKR Financial Holdings LLC	4,414,700		30,859
Moody's Corp. (c)	200,000		5,324
			119,657
Insurance - 3.6%
Arch Capital Group Ltd. (a)	53,600		3,965
Assured Guaranty Ltd.	329,600		6,955
Berkshire Hathaway, Inc. Class B (a)(c)	350,000		28,046
Lincoln National Corp.	218,400		5,499
The Chubb Corp.	107,400		5,419
The First American Corp.	92,500		2,981
Unum Group	230,000		4,786
Validus Holdings Ltd.	140,263		3,926
			61,577
Real Estate Management & Development - 0.3%
Swire Pacific Ltd. (A Shares)	193,000		2,154
Wharf Holdings Ltd.	434,000		2,236
			4,390
Thrifts & Mortgage Finance - 2.3%
Bank Mutual Corp.	268,400		1,742
First Niagara Financial Group, Inc.	358,100		5,028
MGIC Investment Corp. (a)(c)	1,454,100		11,138
Ocwen Financial Corp. (a)	242,800		2,625
Radian Group, Inc. (c)	1,904,723		18,704
			39,237
TOTAL FINANCIALS			361,075
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - 15.0%
Biotechnology - 2.6%
Alexion Pharmaceuticals, Inc. (a)	99,600		$ 4,932
Alnylam Pharmaceuticals, Inc. (a)(c)	152,500		2,657
Amgen, Inc. (a)	250,000		14,153
Biogen Idec, Inc. (a)	110,000		6,051
Cephalon, Inc. (a)	60,000		4,120
Clinical Data, Inc. (a)	150,000		2,727
Dendreon Corp. (a)(c)	100,000		3,123
Geron Corp. (a)(c)	150,000		833
Isis Pharmaceuticals, Inc. (a)	234,400		2,072
Myriad Genetics, Inc. (a)	124,400		2,861
			43,529
Health Care Equipment & Supplies - 3.0%
Abiomed, Inc. (a)	250,000		2,528
Covidien PLC	226,600		11,131
ev3, Inc. (a)	275,000		4,001
HeartWare International, Inc. CDI unit (a)	15,478,245		17,332
Mako Surgical Corp. (a)	239,300		3,166
Micrus Endovascular Corp. (a)	346,000		7,000
Orthovita, Inc. (a)	700,000		2,688
Wright Medical Group, Inc. (a)	178,500		3,008
			50,854
Health Care Providers & Services - 3.5%
Capital Senior Living Corp. (a)	611,000		2,823
Emergency Medical Services Corp. Class A (a)	51,500		2,681
Emeritus Corp. (a)	175,208		3,073
Express Scripts, Inc. (a)	86,200		8,276
Henry Schein, Inc. (a)	81,200		4,615
Humana, Inc. (a)	160,300		7,587
LCA-Vision, Inc. (a)	675,000		5,366
LHC Group, Inc. (a)	143,333		4,314
Medco Health Solutions, Inc. (a)	153,600		9,714
UnitedHealth Group, Inc.	303,600		10,280
			58,729
Life Sciences Tools & Services - 1.8%
Bruker BioSciences Corp. (a)	284,900		3,561
Covance, Inc. (a)	50,000		2,831
ICON PLC sponsored ADR (a)	135,000		3,179
Illumina, Inc. (a)	114,200		4,148
Life Technologies Corp. (a)	102,400		5,198
PerkinElmer, Inc.	150,000		3,332
Common Stocks - continued
	Shares		Value (000s)
HEALTH CARE - continued
Life Sciences Tools & Services - continued
QIAGEN NV (a)(c)	186,200		$ 4,061
Techne Corp.	52,000		3,324
			29,634
Pharmaceuticals - 4.1%
Cadence Pharmaceuticals, Inc. (a)	526,200		4,515
Merck & Co., Inc.	431,400		15,910
Optimer Pharmaceuticals, Inc. (a)	125,000		1,494
Pfizer, Inc.	2,362,600		41,454
ViroPharma, Inc. (a)	533,300		6,645
			70,018
TOTAL HEALTH CARE			252,764
INDUSTRIALS - 11.9%
Aerospace & Defense - 2.7%
Precision Castparts Corp.	57,300		6,461
Raytheon Co.	160,700		9,038
The Boeing Co.	204,000		12,885
United Technologies Corp.	258,300		17,732
			46,116
Air Freight & Logistics - 1.0%
Dynamex, Inc. (a)	175,000		3,045
FedEx Corp.	105,800		8,968
Hub Group, Inc. Class A (a)	194,616		5,249
			17,262
Airlines - 0.2%
Hawaiian Holdings, Inc. (a)	402,200		3,129
Building Products - 0.4%
Masco Corp.	397,200		5,311
USG Corp. (a)(c)	147,000		1,982
			7,293
Commercial Services & Supplies - 1.1%
Casella Waste Systems, Inc. Class A (a)	1,044,800		4,733
Clean Harbors, Inc. (a)	176,100		10,010
Tetra Tech, Inc. (a)	131,700		2,755
			17,498
Construction & Engineering - 0.2%
Fluor Corp.	75,000		3,210
Common Stocks - continued
	Shares		Value (000s)
INDUSTRIALS - continued
Electrical Equipment - 2.1%
Acuity Brands, Inc. (c)	216,500		$ 8,439
AMETEK, Inc.	100,000		3,904
Canadian Solar, Inc. (a)	200,000		3,824
First Solar, Inc. (a)(c)	36,100		3,823
JA Solar Holdings Co. Ltd. ADR (a)(c)	1,230,000		6,101
Saft Groupe SA	98,930		3,618
Trina Solar Ltd. ADR (a)(c)	219,400		4,827
Zumtobel AG (a)	40,141		851
			35,387
Machinery - 1.4%
Blount International, Inc. (a)	390,200		4,304
Cummins, Inc.	195,800		11,118
PACCAR, Inc.	167,500		5,921
The Stanley Works	50,000		2,863
			24,206
Professional Services - 1.1%
Equifax, Inc.	100,000		3,226
Michael Page International PLC	743,333		4,207
Monster Worldwide, Inc. (a)	399,300		5,570
Robert Half International, Inc.	207,400		5,786
			18,789
Road & Rail - 1.3%
CSX Corp.	160,200		7,603
Landstar System, Inc.	91,300		3,642
Union Pacific Corp.	150,300		10,126
			21,371
Trading Companies & Distributors - 0.4%
Phoenix Solar AG (c)	75,000		2,943
Rush Enterprises, Inc. Class A (a)	284,200		3,106
			6,049
TOTAL INDUSTRIALS			200,310
INFORMATION TECHNOLOGY - 17.9%
Communications Equipment - 3.4%
Adtran, Inc.	229,800		5,373
Cisco Systems, Inc. (a)	1,261,000		30,680
F5 Networks, Inc. (a)	98,000		5,468
Juniper Networks, Inc. (a)	304,200		8,512
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Communications Equipment - continued
Riverbed Technology, Inc. (a)	170,700		$ 4,652
Tellabs, Inc.	350,000		2,419
			57,104
Computers & Peripherals - 1.8%
Apple, Inc. (a)	130,900		26,785
NetApp, Inc. (a)	133,100		3,994
			30,779
Electronic Equipment & Components - 2.6%
Acacia Research Corp. - Acacia Technologies (a)	622,108		6,171
Agilent Technologies, Inc. (a)	233,100		7,333
BYD Co. Ltd. (H Shares) (a)(c)	350,000		2,710
Coretronic Corp.	1,165,000		1,590
Corning, Inc.	801,300		14,127
Everlight Electronics Co. Ltd.	881,263		2,548
FLIR Systems, Inc. (a)	100,000		2,681
Measurement Specialties, Inc. (a)	200,000		2,836
Universal Display Corp. (a)(c)	280,700		2,956
			42,952
Internet Software & Services - 1.2%
eBay, Inc. (a)	502,300		11,563
Equinix, Inc. (a)(c)	50,900		4,809
Open Text Corp. (a)	73,900		3,623
			19,995
IT Services - 1.0%
Fiserv, Inc. (a)	100,000		4,823
Hewitt Associates, Inc. Class A (a)	100,000		3,799
MasterCard, Inc. Class A	37,000		8,302
			16,924
Semiconductors & Semiconductor Equipment - 2.0%
Avago Technologies Ltd.	445,700		8,089
Epistar Corp.	726,317		1,946
KLA-Tencor Corp.	132,500		3,860
Lam Research Corp. (a)	246,591		8,362
MEMC Electronic Materials, Inc. (a)	797,700		9,660
Richtek Technology Corp.	264,417		2,465
			34,382
Software - 5.9%
AsiaInfo Holdings, Inc. (a)	100,000		2,442
Autonomy Corp. PLC (a)	941,941		21,979
Common Stocks - continued
	Shares		Value (000s)
INFORMATION TECHNOLOGY - continued
Software - continued
Citrix Systems, Inc. (a)	248,400		$ 10,684
CommVault Systems, Inc. (a)	100,000		2,190
Gameloft (a)	160,000		688
Informatica Corp. (a)	249,900		6,377
MICROS Systems, Inc. (a)	100,000		3,004
Microsoft Corp.	575,600		16,497
Nice Systems Ltd. sponsored ADR (a)	176,000		5,414
Nuance Communications, Inc. (a)	359,400		5,172
Red Hat, Inc. (a)	180,300		5,057
Salesforce.com, Inc. (a)	156,800		10,655
Taleo Corp. Class A (a)	152,100		3,580
VMware, Inc. Class A (a)	131,200		6,496
			100,235
TOTAL INFORMATION TECHNOLOGY			302,371
MATERIALS - 2.7%
Chemicals - 1.8%
Air Products & Chemicals, Inc.	50,000		3,429
Calgon Carbon Corp. (a)(c)	153,300		2,378
Cytec Industries, Inc.	100,000		4,267
E.I. du Pont de Nemours & Co.	346,400		11,681
FMC Corp.	80,000		4,574
Wacker Chemie AG	25,000		2,997
			29,326
Metals & Mining - 0.9%
Goldcorp, Inc.	74,700		2,827
Harmony Gold Mining Co. Ltd. sponsored ADR	310,100		2,831
Ivanhoe Mines Ltd. (a)	324,300		5,181
Lihir Gold Ltd.	953,582		2,264
Newcrest Mining Ltd.	81,720		2,294
			15,397
TOTAL MATERIALS			44,723
TELECOMMUNICATION SERVICES - 1.0%
Diversified Telecommunication Services - 1.0%
Iliad Group SA	25,000		2,648
Verizon Communications, Inc.	515,000		14,899
			17,547
Common Stocks - continued
	Shares		Value (000s)
UTILITIES - 2.1%
Electric Utilities - 0.6%
FirstEnergy Corp.	85,000		$ 3,285
Progress Energy, Inc.	175,000		6,701
			9,986
Independent Power Producers & Energy Traders - 0.5%
AES Corp.	736,400		8,609
Multi-Utilities - 1.0%
Alliant Energy Corp.	130,000		4,112
TECO Energy, Inc.	664,700		10,190
YTL Corp. Bhd	1,261,128		2,676
			16,978
TOTAL UTILITIES			35,573
TOTAL COMMON STOCKS (Cost $1,389,454)		1,664,567
Preferred Stocks - 0.8%

Convertible Preferred Stocks - 0.5%
FINANCIALS - 0.2%
Diversified Financial Services - 0.2%
Ning, Inc. Series D 8.00% (a)(e)	419,580		2,473
INFORMATION TECHNOLOGY - 0.3%
Software - 0.3%
Trion World Network, Inc. 8.00% (a)(e)	910,747		5,001
TOTAL CONVERTIBLE PREFERRED STOCKS			7,474
Nonconvertible Preferred Stocks - 0.3%
CONSUMER DISCRETIONARY - 0.2%
Automobiles - 0.2%
Porsche Automobil Holding SE	62,900		3,160
Preferred Stocks - continued
	Shares		Value (000s)
Nonconvertible Preferred Stocks - continued
FINANCIALS - 0.1%
Insurance - 0.1%
Fondiaria-Sai SpA (Risparmio Shares)	251,700		$ 2,558
TOTAL NONCONVERTIBLE PREFERRED STOCKS			5,718
TOTAL PREFERRED STOCKS (Cost $15,970)		13,192
Money Market Funds - 6.0%

Fidelity Cash Central Fund, 0.16% (d)	12,701,287		12,701
Fidelity Securities Lending Cash Central Fund, 0.17% (b)(d)	88,685,302		88,685
TOTAL MONEY MARKET FUNDS (Cost $101,386)		101,386
TOTAL INVESTMENT PORTFOLIO - 105.5% (Cost $1,506,810)			1,779,145
NET OTHER ASSETS - (5.5)%			(92,365)
NET ASSETS - 100%		$ 1,686,780

Legend

(a) Non-income producing

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

(e) Restricted securities - 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 $7,474,000 or 0.5% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Acquisition Cost (000s)
Ning, Inc. Series D 8.00%	3/19/08	$ 3,000
Trion World Network, Inc. 8.00%	8/22/08	$ 5,001

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	$ 6
Fidelity Securities Lending Cash Central Fund	156
Total	$ 162

Other Information

The following is a summary of the inputs used, as of February 28, 2010, involving the Fund's assets and liabilities carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used in the tables below, please refer to the Investment Valuation section at the end of this listing.

Valuation Inputs at Reporting Date:
Description (Amounts in thousands)	Total	Level 1	Level 2	Level 3
Investments in Securities:
Equities:
Consumer Discretionary	$ 220,196	$ 220,196	$ -	$ -
Consumer Staples	96,619	96,619	-	-
Energy	136,549	136,549	-	-
Financials	366,106	363,633	-	2,473
Health Care	252,764	252,764	-	-
Industrials	200,310	200,310	-	-
Information Technology	307,372	302,371	-	5,001
Materials	44,723	44,723	-	-
Telecommunication Services	17,547	17,547	-	-
Utilities	35,573	35,573	-	-
Money Market Funds	101,386	101,386	-	-
Total Investments in Securities:	$ 1,779,145	$ 1,771,671	$ -	$ 7,474

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

(Amounts in thousands)
Investments in Securities:
Beginning Balance	$ 7,474
Total Realized Gain (Loss)	-
Total Unrealized Gain (Loss)	-
Cost of Purchases	-
Proceeds of Sales	-
Amortization/Accretion	-
Transfers in/out of Level 3	-
Ending Balance	$ 7,474
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2010	$ -

Income Tax Information

At February 28, 2010, the cost of investment securities for income tax purposes was $1,518,775,000. Net unrealized appreciation aggregated $260,370,000, of which $335,046,000 related to appreciated investment securities and $74,676,000 related to depreciated investment 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 Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include significant market or security specific events. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. 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.

Quarterly Report

or an affiliate.

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Mt. Vernon Street Trust's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Mt. Vernon Street Trust

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	April 29, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	April 29, 2010

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer

Date:	April 29, 2010

EX-99.CERT 2 ex99.htm

Exhibit EX-99.CERT

I, Kenneth B. Robins, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Mt. Vernon Street Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 29, 2010

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Christine Reynolds, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Mt. Vernon Street Trust;

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 29, 2010

/s/Christine Reynolds

Christine Reynolds

Chief Financial Officer

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