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: |
August 31, 2011 |
Item 1. Schedule of Investments
Quarterly Holdings Report
for
Fidelity ® 130/30
Large Cap Fund
August 31, 2011
1.859201.103
FLC-QTLY-1011
Showing Percentage of Net Assets
LONG STOCK POSITIONS (c) - 126.4% |
|||
Shares |
Value |
||
COMMON STOCKS - 125.2% CONSUMER DISCRETIONARY - 19.0% |
|||
Auto Components - 2.2% |
|||
Lear Corp. |
5,300 |
$ 253,234 |
|
TRW Automotive Holdings Corp. (a) |
6,800 |
283,492 |
|
|
536,726 |
||
Diversified Consumer Services - 1.8% |
|||
ITT Educational Services, Inc. (a) |
2,600 |
187,616 |
|
Weight Watchers International, Inc. |
4,100 |
248,132 |
|
|
435,748 |
||
Hotels, Restaurants & Leisure - 2.0% |
|||
Brinker International, Inc. |
10,300 |
232,574 |
|
Wyndham Worldwide Corp. |
8,200 |
266,336 |
|
|
498,910 |
||
Media - 4.7% |
|||
CBS Corp. Class B |
10,900 |
273,045 |
|
Comcast Corp. Class A (special) (non-vtg.) |
7,800 |
165,048 |
|
DISH Network Corp. Class A (a) |
13,600 |
338,096 |
|
Viacom, Inc. Class B (non-vtg.) |
7,600 |
366,624 |
|
|
1,142,813 |
||
Specialty Retail - 6.4% |
|||
GameStop Corp. Class A (a) |
7,800 |
186,654 |
|
Home Depot, Inc. |
13,800 |
460,644 |
|
Limited Brands, Inc. |
15,300 |
577,422 |
|
Lithia Motors, Inc. Class A (sub. vtg.) |
11,100 |
209,457 |
|
Signet Jewelers Ltd. |
3,100 |
120,714 |
|
|
1,554,891 |
||
Textiles, Apparel & Luxury Goods - 1.9% |
|||
VF Corp. |
4,000 |
468,240 |
|
TOTAL CONSUMER DISCRETIONARY |
4,637,328 |
||
CONSUMER STAPLES - 8.5% |
|||
Beverages - 3.0% |
|||
Anheuser-Busch InBev SA NV |
13,193 |
728,299 |
|
Food Products - 1.9% |
|||
Chiquita Brands International, Inc. (a) |
8,200 |
84,542 |
|
Fresh Del Monte Produce, Inc. |
5,800 |
140,012 |
|
Kraft Foods, Inc. Class A |
6,900 |
241,638 |
|
|
466,192 |
||
Personal Products - 0.3% |
|||
Prestige Brands Holdings, Inc. (a) |
6,370 |
68,605 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued CONSUMER STAPLES - continued |
|||
Tobacco - 3.3% |
|||
Imperial Tobacco Group PLC |
5,605 |
$ 185,845 |
|
Lorillard, Inc. |
5,500 |
612,810 |
|
|
798,655 |
||
TOTAL CONSUMER STAPLES |
2,061,751 |
||
ENERGY - 14.2% |
|||
Energy Equipment & Services - 5.5% |
|||
Baker Hughes, Inc. |
3,700 |
226,107 |
|
Basic Energy Services, Inc. (a) |
4,500 |
98,370 |
|
Halliburton Co. |
12,500 |
554,625 |
|
Helix Energy Solutions Group, Inc. (a) |
7,300 |
123,297 |
|
Helmerich & Payne, Inc. |
2,100 |
119,742 |
|
Nabors Industries Ltd. (a) |
5,400 |
99,576 |
|
Newpark Resources, Inc. (a) |
15,300 |
126,684 |
|
|
1,348,401 |
||
Oil, Gas & Consumable Fuels - 8.7% |
|||
Chevron Corp. |
100 |
9,891 |
|
CVR Energy, Inc. (a) |
10,900 |
310,323 |
|
HollyFrontier Corp. |
5,292 |
379,754 |
|
Marathon Oil Corp. |
18,400 |
495,328 |
|
Tesoro Corp. (a) |
16,400 |
394,584 |
|
Valero Energy Corp. |
13,800 |
313,536 |
|
Western Refining, Inc. (a) |
11,500 |
200,560 |
|
|
2,103,976 |
||
TOTAL ENERGY |
3,452,377 |
||
FINANCIALS - 20.2% |
|||
Commercial Banks - 3.3% |
|||
Wells Fargo & Co. |
30,400 |
793,440 |
|
Consumer Finance - 4.6% |
|||
Capital One Financial Corp. |
17,200 |
792,060 |
|
SLM Corp. |
23,800 |
326,774 |
|
|
1,118,834 |
||
Diversified Financial Services - 5.4% |
|||
JPMorgan Chase & Co. |
31,200 |
1,171,871 |
|
KKR Financial Holdings LLC |
18,100 |
156,565 |
|
|
1,328,436 |
||
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued FINANCIALS - continued |
|||
Insurance - 5.2% |
|||
Hartford Financial Services Group, Inc. |
22,800 |
$ 436,392 |
|
Lincoln National Corp. |
9,800 |
203,350 |
|
Prudential Financial, Inc. |
9,800 |
492,058 |
|
Unum Group |
5,800 |
136,532 |
|
|
1,268,332 |
||
Real Estate Investment Trusts - 1.2% |
|||
American Capital Agency Corp. |
10,200 |
290,802 |
|
Real Estate Management & Development - 0.5% |
|||
Brookfield Properties Corp. |
7,400 |
124,618 |
|
TOTAL FINANCIALS |
4,924,462 |
||
HEALTH CARE - 13.8% |
|||
Health Care Equipment & Supplies - 4.7% |
|||
Boston Scientific Corp. (a) |
37,700 |
255,606 |
|
Covidien PLC |
7,100 |
370,478 |
|
DENTSPLY International, Inc. |
7,100 |
249,920 |
|
The Cooper Companies, Inc. |
3,700 |
278,499 |
|
|
1,154,503 |
||
Health Care Providers & Services - 6.8% |
|||
Aetna, Inc. |
13,300 |
532,399 |
|
AmerisourceBergen Corp. |
3,200 |
126,656 |
|
CIGNA Corp. |
5,300 |
247,722 |
|
HealthSpring, Inc. (a) |
9,500 |
370,880 |
|
Humana, Inc. |
3,200 |
248,448 |
|
McKesson Corp. |
1,500 |
119,895 |
|
|
1,646,000 |
||
Pharmaceuticals - 2.3% |
|||
Eli Lilly & Co. |
15,200 |
570,152 |
|
TOTAL HEALTH CARE |
3,370,655 |
||
INDUSTRIALS - 12.8% |
|||
Aerospace & Defense - 1.0% |
|||
Teledyne Technologies, Inc. (a) |
4,700 |
256,573 |
|
Airlines - 1.3% |
|||
Alaska Air Group, Inc. (a) |
5,400 |
311,742 |
|
Commercial Services & Supplies - 1.2% |
|||
Sykes Enterprises, Inc. (a) |
18,000 |
281,700 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued INDUSTRIALS - continued |
|||
Construction & Engineering - 4.2% |
|||
Foster Wheeler AG (a) |
5,300 |
$ 130,115 |
|
KBR, Inc. |
16,000 |
480,800 |
|
MasTec, Inc. (a) |
18,500 |
410,700 |
|
|
1,021,615 |
||
Electrical Equipment - 0.5% |
|||
General Cable Corp. (a) |
2,300 |
69,345 |
|
Harbin Electric, Inc. (a) |
3,400 |
56,372 |
|
|
125,717 |
||
Industrial Conglomerates - 2.6% |
|||
General Electric Co. |
38,400 |
626,304 |
|
Road & Rail - 2.0% |
|||
CSX Corp. |
11,300 |
247,922 |
|
Norfolk Southern Corp. |
3,700 |
250,416 |
|
|
498,338 |
||
TOTAL INDUSTRIALS |
3,121,989 |
||
INFORMATION TECHNOLOGY - 21.4% |
|||
Communications Equipment - 1.9% |
|||
Alcatel-Lucent SA sponsored ADR (a) |
30,200 |
110,532 |
|
Motorola Solutions, Inc. |
8,400 |
353,556 |
|
|
464,088 |
||
Computers & Peripherals - 6.5% |
|||
Dell, Inc. (a) |
16,300 |
242,300 |
|
Hewlett-Packard Co. |
25,000 |
650,750 |
|
Seagate Technology |
22,100 |
255,918 |
|
Western Digital Corp. (a) |
14,800 |
436,452 |
|
|
1,585,420 |
||
Electronic Equipment & Components - 1.7% |
|||
Flextronics International Ltd. (a) |
19,200 |
110,400 |
|
Jabil Circuit, Inc. |
18,400 |
310,040 |
|
|
420,440 |
||
Internet Software & Services - 0.2% |
|||
Facebook, Inc. Class B (a)(d) |
1,558 |
38,950 |
|
IT Services - 5.2% |
|||
Accenture PLC Class A |
2,600 |
139,334 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued INFORMATION TECHNOLOGY - continued |
|||
IT Services - continued |
|||
Alliance Data Systems Corp. (a) |
4,400 |
$ 411,004 |
|
MasterCard, Inc. Class A |
2,200 |
725,362 |
|
|
1,275,700 |
||
Semiconductors & Semiconductor Equipment - 4.3% |
|||
Entegris, Inc. (a) |
28,400 |
213,568 |
|
GT Advanced Technologies, Inc. (a) |
14,700 |
179,487 |
|
Samsung Electronics Co. Ltd. |
790 |
551,939 |
|
Teradyne, Inc. (a) |
8,900 |
107,690 |
|
|
1,052,684 |
||
Software - 1.6% |
|||
Oracle Corp. |
13,500 |
378,945 |
|
TOTAL INFORMATION TECHNOLOGY |
5,216,227 |
||
MATERIALS - 8.4% |
|||
Chemicals - 4.7% |
|||
BASF AG |
4,123 |
294,211 |
|
Celanese Corp. Class A |
5,100 |
239,751 |
|
Rockwood Holdings, Inc. (a) |
3,700 |
188,700 |
|
W.R. Grace & Co. (a) |
4,400 |
173,448 |
|
Westlake Chemical Corp. |
5,500 |
252,725 |
|
|
1,148,835 |
||
Metals & Mining - 3.1% |
|||
Anglo American PLC (United Kingdom) |
6,000 |
250,139 |
|
Freeport-McMoRan Copper & Gold, Inc. |
5,400 |
254,556 |
|
Reliance Steel & Aluminum Co. |
5,900 |
244,496 |
|
|
749,191 |
||
Paper & Forest Products - 0.6% |
|||
Domtar Corp. |
1,700 |
136,544 |
|
TOTAL MATERIALS |
2,034,570 |
||
TELECOMMUNICATION SERVICES - 3.2% |
|||
Diversified Telecommunication Services - 3.2% |
|||
BT Group PLC |
283,000 |
785,109 |
|
UTILITIES - 3.7% |
|||
Electric Utilities - 1.3% |
|||
El Paso Electric Co. |
8,800 |
304,392 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued UTILITIES - continued |
|||
Independent Power Producers & Energy Traders - 2.4% |
|||
The AES Corp. (a) |
53,900 |
$ 585,354 |
|
TOTAL UTILITIES |
889,746 |
||
TOTAL COMMON STOCKS (Cost $32,101,297) |
30,494,214 |
||
NONCONVERTIBLE PREFERRED STOCKS - 1.2% |
|||
CONSUMER DISCRETIONARY - 1.2% |
|||
Automobiles - 1.2% |
|||
Volkswagen AG (Cost $306,285) |
1,800 |
299,843 |
|
TOTAL LONG STOCK POSITIONS - 126.4% (Cost $32,407,582) |
30,794,057 |
||
Money Market Funds - 5.5% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.11% (b) |
1,332,234 |
1,332,234 |
|
TOTAL INVESTMENT PORTFOLIO - 131.9% (Cost $33,739,816) |
32,126,291 |
||
TOTAL SECURITIES SOLD SHORT - (29.9)% (Proceeds $8,603,704) |
(7,268,237) |
||
NET OTHER ASSETS (LIABILITIES) - (2.0)% |
(509,098) |
||
NET ASSETS - 100% |
$ 24,348,956 |
SHORT STOCK POSITIONS - (29.9)% |
||||
COMMON STOCKS - (29.9)% |
||||
CONSUMER DISCRETIONARY - (4.5)% |
||||
Auto Components - (0.5)% |
||||
Johnson Controls, Inc. |
(3,700) |
(117,956) |
||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued CONSUMER DISCRETIONARY - continued |
||||
Diversified Consumer Services - (0.7)% |
||||
Universal Technical Institute, Inc. |
(11,600) |
$ (168,896) |
||
Hotels, Restaurants & Leisure - (0.9)% |
||||
Marriott International, Inc. Class A |
(5,600) |
(163,968) |
||
Orient Express Hotels Ltd. Class A |
(8,300) |
(65,072) |
||
|
(229,040) |
|||
Media - (1.4)% |
||||
DreamWorks Animation SKG, Inc. Class A |
(6,800) |
(143,616) |
||
Lamar Advertising Co. Class A |
(9,700) |
(202,827) |
||
|
(346,443) |
|||
Textiles, Apparel & Luxury Goods - (1.0)% |
||||
K-Swiss, Inc. Class A |
(45,500) |
(242,970) |
||
TOTAL CONSUMER DISCRETIONARY |
(1,105,305) |
|||
CONSUMER STAPLES - (1.0)% |
||||
Food & Staples Retailing - (1.0)% |
||||
Sysco Corp. |
(8,500) |
(237,405) |
||
ENERGY - (1.2)% |
||||
Oil, Gas & Consumable Fuels - (1.2)% |
||||
Comstock Resources, Inc. |
(7,900) |
(160,765) |
||
Penn Virginia Corp. |
(16,000) |
(130,560) |
||
|
(291,325) |
|||
FINANCIALS - (5.8)% |
||||
Capital Markets - (2.2)% |
||||
Deutsche Bank AG (NY Shares) |
(2,800) |
(113,316) |
||
Eaton Vance Corp. (non-vtg.) |
(7,700) |
(187,957) |
||
Janus Capital Group, Inc. |
(15,600) |
(113,880) |
||
T. Rowe Price Group, Inc. |
(2,500) |
(133,700) |
||
|
(548,853) |
|||
Commercial Banks - (0.5)% |
||||
First Horizon National Corp. |
(17,396) |
(122,468) |
||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued FINANCIALS - continued |
||||
Real Estate Investment Trusts - (3.1)% |
||||
Corporate Office Properties Trust (SBI) |
(8,200) |
$ (219,678) |
||
DuPont Fabros Technology, Inc. |
(5,500) |
(127,325) |
||
Mack-Cali Realty Corp. |
(7,200) |
(224,280) |
||
Plum Creek Timber Co., Inc. |
(4,600) |
(174,662) |
||
|
(745,945) |
|||
TOTAL FINANCIALS |
(1,417,266) |
|||
HEALTH CARE - (4.2)% |
||||
Biotechnology - (1.5)% |
||||
Myriad Genetics, Inc. |
(10,900) |
(216,147) |
||
Sangamo Biosciences, Inc. |
(27,600) |
(149,316) |
||
|
(365,463) |
|||
Health Care Equipment & Supplies - (2.2)% |
||||
Abaxis, Inc. |
(8,600) |
(213,882) |
||
Neogen Corp. |
(6,200) |
(215,264) |
||
NuVasive, Inc. |
(4,200) |
(101,766) |
||
|
(530,912) |
|||
Life Sciences Tools & Services - (0.5)% |
||||
Illumina, Inc. |
(2,300) |
(119,830) |
||
TOTAL HEALTH CARE |
(1,016,205) |
|||
INDUSTRIALS - (2.8)% |
||||
Airlines - (0.8)% |
||||
AMR Corp. |
(56,700) |
(205,254) |
||
Building Products - (1.0)% |
||||
Masco Corp. |
(27,000) |
(239,490) |
||
Machinery - (1.0)% |
||||
RBC Bearings, Inc. |
(6,400) |
(223,680) |
||
TOTAL INDUSTRIALS |
(668,424) |
|||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued INFORMATION TECHNOLOGY - (4.8)% |
||||
Communications Equipment - (0.9)% |
||||
F5 Networks, Inc. |
(2,700) |
$ (220,374) |
||
Electronic Equipment & Components - (0.8)% |
||||
Dolby Laboratories, Inc. Class A |
(5,800) |
(194,880) |
||
Semiconductors & Semiconductor Equipment - (3.1)% |
||||
Atmel Corp. |
(24,500) |
(223,195) |
||
FormFactor, Inc. |
(27,900) |
(220,131) |
||
Mattson Technology, Inc. |
(74,900) |
(110,103) |
||
Silicon Laboratories, Inc. |
(6,000) |
(207,420) |
||
|
(760,849) |
|||
TOTAL INFORMATION TECHNOLOGY |
(1,176,103) |
|||
MATERIALS - (3.7)% |
||||
Chemicals - (0.9)% |
||||
The Scotts Miracle-Gro Co. Class A |
(4,700) |
(228,232) |
||
Construction Materials - (0.8)% |
||||
Vulcan Materials Co. |
(5,300) |
(185,659) |
||
Metals & Mining - (1.1)% |
||||
Titanium Metals Corp. |
(15,700) |
(251,671) |
||
Paper & Forest Products - (0.9)% |
||||
Louisiana-Pacific Corp. |
(34,600) |
(230,782) |
||
TOTAL MATERIALS |
(896,344) |
|||
UTILITIES - (1.9)% |
||||
Electric Utilities - (1.2)% |
||||
Progress Energy, Inc. |
(6,100) |
(297,680) |
||
Independent Power Producers & Energy Traders - (0.7)% |
||||
Black Hills Corp. |
(5,300) |
(162,180) |
||
TOTAL UTILITIES |
(459,860) |
|||
TOTAL SHORT STOCK POSITIONS - (29.9)% (Proceeds $8,603,704) |
$ (7,268,237) |
Legend |
(a) Non-income producing |
(b) 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) A portion of the securities, totaling $23,658,921 are pledged with brokers as collateral for securities sold short. |
(d) 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 $38,950 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost |
Facebook, Inc. Class B |
3/31/11 - 5/19/11 |
$ 38,961 |
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 |
$ 1,267 |
Other Information |
The following is a summary of the inputs used, as of August 31, 2011, involving the Fund's assets and liabilities carried at fair 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 |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 4,937,171 |
$ 4,937,171 |
$ - |
$ - |
Consumer Staples |
2,061,751 |
1,333,452 |
728,299 |
- |
Energy |
3,452,377 |
3,452,377 |
- |
- |
Financials |
4,924,462 |
4,924,462 |
- |
- |
Health Care |
3,370,655 |
3,370,655 |
- |
- |
Industrials |
3,121,989 |
3,121,989 |
- |
- |
Information Technology |
5,216,227 |
5,177,277 |
- |
38,950 |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Materials |
$ 2,034,570 |
$ 2,034,570 |
$ - |
$ - |
Telecommunication Services |
785,109 |
- |
785,109 |
- |
Utilities |
889,746 |
889,746 |
- |
- |
Money Market Funds |
1,332,234 |
1,332,234 |
- |
- |
Short Positions |
(7,268,237) |
(7,268,237) |
- |
- |
Total Investments in Securities: |
$ 24,858,054 |
$ 23,305,696 |
$ 1,513,408 |
$ 38,950 |
The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value: |
Investments in Securities: |
|
Beginning Balance |
$ - |
Total Realized Gain (Loss) |
- |
Total Unrealized Gain (Loss) |
(11) |
Cost of Purchases |
38,961 |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers in to Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ 38,950 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2011 |
$ (11) |
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 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At August 31, 2011, the cost of investment securities for income tax purposes was $33,795,070. Net unrealized depreciation aggregated $1,668,779, of which $1,261,308 related to appreciated investment securities and $2,930,087 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 market or security specific events. The frequency with which these procedures are used cannot be predicted and they 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 are generally 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's 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 see the fund's most recent prospectus and annual report. or an affiliate. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity Advisor 130/30
Large Cap Fund
Class A
Class T
Class B
Class C
Institutional Class
August 31, 2011
Class A, Class T, Class B, Class C and
Institutional Class
are classes of Fidelity® 130/30
Large Cap Fund
1.859223.103
AFLC-QTLY-1011
Showing Percentage of Net Assets
LONG STOCK POSITIONS (c) - 126.4% |
|||
Shares |
Value |
||
COMMON STOCKS - 125.2% CONSUMER DISCRETIONARY - 19.0% |
|||
Auto Components - 2.2% |
|||
Lear Corp. |
5,300 |
$ 253,234 |
|
TRW Automotive Holdings Corp. (a) |
6,800 |
283,492 |
|
|
536,726 |
||
Diversified Consumer Services - 1.8% |
|||
ITT Educational Services, Inc. (a) |
2,600 |
187,616 |
|
Weight Watchers International, Inc. |
4,100 |
248,132 |
|
|
435,748 |
||
Hotels, Restaurants & Leisure - 2.0% |
|||
Brinker International, Inc. |
10,300 |
232,574 |
|
Wyndham Worldwide Corp. |
8,200 |
266,336 |
|
|
498,910 |
||
Media - 4.7% |
|||
CBS Corp. Class B |
10,900 |
273,045 |
|
Comcast Corp. Class A (special) (non-vtg.) |
7,800 |
165,048 |
|
DISH Network Corp. Class A (a) |
13,600 |
338,096 |
|
Viacom, Inc. Class B (non-vtg.) |
7,600 |
366,624 |
|
|
1,142,813 |
||
Specialty Retail - 6.4% |
|||
GameStop Corp. Class A (a) |
7,800 |
186,654 |
|
Home Depot, Inc. |
13,800 |
460,644 |
|
Limited Brands, Inc. |
15,300 |
577,422 |
|
Lithia Motors, Inc. Class A (sub. vtg.) |
11,100 |
209,457 |
|
Signet Jewelers Ltd. |
3,100 |
120,714 |
|
|
1,554,891 |
||
Textiles, Apparel & Luxury Goods - 1.9% |
|||
VF Corp. |
4,000 |
468,240 |
|
TOTAL CONSUMER DISCRETIONARY |
4,637,328 |
||
CONSUMER STAPLES - 8.5% |
|||
Beverages - 3.0% |
|||
Anheuser-Busch InBev SA NV |
13,193 |
728,299 |
|
Food Products - 1.9% |
|||
Chiquita Brands International, Inc. (a) |
8,200 |
84,542 |
|
Fresh Del Monte Produce, Inc. |
5,800 |
140,012 |
|
Kraft Foods, Inc. Class A |
6,900 |
241,638 |
|
|
466,192 |
||
Personal Products - 0.3% |
|||
Prestige Brands Holdings, Inc. (a) |
6,370 |
68,605 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued CONSUMER STAPLES - continued |
|||
Tobacco - 3.3% |
|||
Imperial Tobacco Group PLC |
5,605 |
$ 185,845 |
|
Lorillard, Inc. |
5,500 |
612,810 |
|
|
798,655 |
||
TOTAL CONSUMER STAPLES |
2,061,751 |
||
ENERGY - 14.2% |
|||
Energy Equipment & Services - 5.5% |
|||
Baker Hughes, Inc. |
3,700 |
226,107 |
|
Basic Energy Services, Inc. (a) |
4,500 |
98,370 |
|
Halliburton Co. |
12,500 |
554,625 |
|
Helix Energy Solutions Group, Inc. (a) |
7,300 |
123,297 |
|
Helmerich & Payne, Inc. |
2,100 |
119,742 |
|
Nabors Industries Ltd. (a) |
5,400 |
99,576 |
|
Newpark Resources, Inc. (a) |
15,300 |
126,684 |
|
|
1,348,401 |
||
Oil, Gas & Consumable Fuels - 8.7% |
|||
Chevron Corp. |
100 |
9,891 |
|
CVR Energy, Inc. (a) |
10,900 |
310,323 |
|
HollyFrontier Corp. |
5,292 |
379,754 |
|
Marathon Oil Corp. |
18,400 |
495,328 |
|
Tesoro Corp. (a) |
16,400 |
394,584 |
|
Valero Energy Corp. |
13,800 |
313,536 |
|
Western Refining, Inc. (a) |
11,500 |
200,560 |
|
|
2,103,976 |
||
TOTAL ENERGY |
3,452,377 |
||
FINANCIALS - 20.2% |
|||
Commercial Banks - 3.3% |
|||
Wells Fargo & Co. |
30,400 |
793,440 |
|
Consumer Finance - 4.6% |
|||
Capital One Financial Corp. |
17,200 |
792,060 |
|
SLM Corp. |
23,800 |
326,774 |
|
|
1,118,834 |
||
Diversified Financial Services - 5.4% |
|||
JPMorgan Chase & Co. |
31,200 |
1,171,871 |
|
KKR Financial Holdings LLC |
18,100 |
156,565 |
|
|
1,328,436 |
||
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued FINANCIALS - continued |
|||
Insurance - 5.2% |
|||
Hartford Financial Services Group, Inc. |
22,800 |
$ 436,392 |
|
Lincoln National Corp. |
9,800 |
203,350 |
|
Prudential Financial, Inc. |
9,800 |
492,058 |
|
Unum Group |
5,800 |
136,532 |
|
|
1,268,332 |
||
Real Estate Investment Trusts - 1.2% |
|||
American Capital Agency Corp. |
10,200 |
290,802 |
|
Real Estate Management & Development - 0.5% |
|||
Brookfield Properties Corp. |
7,400 |
124,618 |
|
TOTAL FINANCIALS |
4,924,462 |
||
HEALTH CARE - 13.8% |
|||
Health Care Equipment & Supplies - 4.7% |
|||
Boston Scientific Corp. (a) |
37,700 |
255,606 |
|
Covidien PLC |
7,100 |
370,478 |
|
DENTSPLY International, Inc. |
7,100 |
249,920 |
|
The Cooper Companies, Inc. |
3,700 |
278,499 |
|
|
1,154,503 |
||
Health Care Providers & Services - 6.8% |
|||
Aetna, Inc. |
13,300 |
532,399 |
|
AmerisourceBergen Corp. |
3,200 |
126,656 |
|
CIGNA Corp. |
5,300 |
247,722 |
|
HealthSpring, Inc. (a) |
9,500 |
370,880 |
|
Humana, Inc. |
3,200 |
248,448 |
|
McKesson Corp. |
1,500 |
119,895 |
|
|
1,646,000 |
||
Pharmaceuticals - 2.3% |
|||
Eli Lilly & Co. |
15,200 |
570,152 |
|
TOTAL HEALTH CARE |
3,370,655 |
||
INDUSTRIALS - 12.8% |
|||
Aerospace & Defense - 1.0% |
|||
Teledyne Technologies, Inc. (a) |
4,700 |
256,573 |
|
Airlines - 1.3% |
|||
Alaska Air Group, Inc. (a) |
5,400 |
311,742 |
|
Commercial Services & Supplies - 1.2% |
|||
Sykes Enterprises, Inc. (a) |
18,000 |
281,700 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued INDUSTRIALS - continued |
|||
Construction & Engineering - 4.2% |
|||
Foster Wheeler AG (a) |
5,300 |
$ 130,115 |
|
KBR, Inc. |
16,000 |
480,800 |
|
MasTec, Inc. (a) |
18,500 |
410,700 |
|
|
1,021,615 |
||
Electrical Equipment - 0.5% |
|||
General Cable Corp. (a) |
2,300 |
69,345 |
|
Harbin Electric, Inc. (a) |
3,400 |
56,372 |
|
|
125,717 |
||
Industrial Conglomerates - 2.6% |
|||
General Electric Co. |
38,400 |
626,304 |
|
Road & Rail - 2.0% |
|||
CSX Corp. |
11,300 |
247,922 |
|
Norfolk Southern Corp. |
3,700 |
250,416 |
|
|
498,338 |
||
TOTAL INDUSTRIALS |
3,121,989 |
||
INFORMATION TECHNOLOGY - 21.4% |
|||
Communications Equipment - 1.9% |
|||
Alcatel-Lucent SA sponsored ADR (a) |
30,200 |
110,532 |
|
Motorola Solutions, Inc. |
8,400 |
353,556 |
|
|
464,088 |
||
Computers & Peripherals - 6.5% |
|||
Dell, Inc. (a) |
16,300 |
242,300 |
|
Hewlett-Packard Co. |
25,000 |
650,750 |
|
Seagate Technology |
22,100 |
255,918 |
|
Western Digital Corp. (a) |
14,800 |
436,452 |
|
|
1,585,420 |
||
Electronic Equipment & Components - 1.7% |
|||
Flextronics International Ltd. (a) |
19,200 |
110,400 |
|
Jabil Circuit, Inc. |
18,400 |
310,040 |
|
|
420,440 |
||
Internet Software & Services - 0.2% |
|||
Facebook, Inc. Class B (a)(d) |
1,558 |
38,950 |
|
IT Services - 5.2% |
|||
Accenture PLC Class A |
2,600 |
139,334 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued INFORMATION TECHNOLOGY - continued |
|||
IT Services - continued |
|||
Alliance Data Systems Corp. (a) |
4,400 |
$ 411,004 |
|
MasterCard, Inc. Class A |
2,200 |
725,362 |
|
|
1,275,700 |
||
Semiconductors & Semiconductor Equipment - 4.3% |
|||
Entegris, Inc. (a) |
28,400 |
213,568 |
|
GT Advanced Technologies, Inc. (a) |
14,700 |
179,487 |
|
Samsung Electronics Co. Ltd. |
790 |
551,939 |
|
Teradyne, Inc. (a) |
8,900 |
107,690 |
|
|
1,052,684 |
||
Software - 1.6% |
|||
Oracle Corp. |
13,500 |
378,945 |
|
TOTAL INFORMATION TECHNOLOGY |
5,216,227 |
||
MATERIALS - 8.4% |
|||
Chemicals - 4.7% |
|||
BASF AG |
4,123 |
294,211 |
|
Celanese Corp. Class A |
5,100 |
239,751 |
|
Rockwood Holdings, Inc. (a) |
3,700 |
188,700 |
|
W.R. Grace & Co. (a) |
4,400 |
173,448 |
|
Westlake Chemical Corp. |
5,500 |
252,725 |
|
|
1,148,835 |
||
Metals & Mining - 3.1% |
|||
Anglo American PLC (United Kingdom) |
6,000 |
250,139 |
|
Freeport-McMoRan Copper & Gold, Inc. |
5,400 |
254,556 |
|
Reliance Steel & Aluminum Co. |
5,900 |
244,496 |
|
|
749,191 |
||
Paper & Forest Products - 0.6% |
|||
Domtar Corp. |
1,700 |
136,544 |
|
TOTAL MATERIALS |
2,034,570 |
||
TELECOMMUNICATION SERVICES - 3.2% |
|||
Diversified Telecommunication Services - 3.2% |
|||
BT Group PLC |
283,000 |
785,109 |
|
UTILITIES - 3.7% |
|||
Electric Utilities - 1.3% |
|||
El Paso Electric Co. |
8,800 |
304,392 |
|
LONG STOCK POSITIONS (c) - continued |
|||
Shares |
Value |
||
COMMON STOCKS - continued UTILITIES - continued |
|||
Independent Power Producers & Energy Traders - 2.4% |
|||
The AES Corp. (a) |
53,900 |
$ 585,354 |
|
TOTAL UTILITIES |
889,746 |
||
TOTAL COMMON STOCKS (Cost $32,101,297) |
30,494,214 |
||
NONCONVERTIBLE PREFERRED STOCKS - 1.2% |
|||
CONSUMER DISCRETIONARY - 1.2% |
|||
Automobiles - 1.2% |
|||
Volkswagen AG (Cost $306,285) |
1,800 |
299,843 |
|
TOTAL LONG STOCK POSITIONS - 126.4% (Cost $32,407,582) |
30,794,057 |
||
Money Market Funds - 5.5% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.11% (b) |
1,332,234 |
1,332,234 |
|
TOTAL INVESTMENT PORTFOLIO - 131.9% (Cost $33,739,816) |
32,126,291 |
||
TOTAL SECURITIES SOLD SHORT - (29.9)% (Proceeds $8,603,704) |
(7,268,237) |
||
NET OTHER ASSETS (LIABILITIES) - (2.0)% |
(509,098) |
||
NET ASSETS - 100% |
$ 24,348,956 |
SHORT STOCK POSITIONS - (29.9)% |
||||
COMMON STOCKS - (29.9)% |
||||
CONSUMER DISCRETIONARY - (4.5)% |
||||
Auto Components - (0.5)% |
||||
Johnson Controls, Inc. |
(3,700) |
(117,956) |
||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued CONSUMER DISCRETIONARY - continued |
||||
Diversified Consumer Services - (0.7)% |
||||
Universal Technical Institute, Inc. |
(11,600) |
$ (168,896) |
||
Hotels, Restaurants & Leisure - (0.9)% |
||||
Marriott International, Inc. Class A |
(5,600) |
(163,968) |
||
Orient Express Hotels Ltd. Class A |
(8,300) |
(65,072) |
||
|
(229,040) |
|||
Media - (1.4)% |
||||
DreamWorks Animation SKG, Inc. Class A |
(6,800) |
(143,616) |
||
Lamar Advertising Co. Class A |
(9,700) |
(202,827) |
||
|
(346,443) |
|||
Textiles, Apparel & Luxury Goods - (1.0)% |
||||
K-Swiss, Inc. Class A |
(45,500) |
(242,970) |
||
TOTAL CONSUMER DISCRETIONARY |
(1,105,305) |
|||
CONSUMER STAPLES - (1.0)% |
||||
Food & Staples Retailing - (1.0)% |
||||
Sysco Corp. |
(8,500) |
(237,405) |
||
ENERGY - (1.2)% |
||||
Oil, Gas & Consumable Fuels - (1.2)% |
||||
Comstock Resources, Inc. |
(7,900) |
(160,765) |
||
Penn Virginia Corp. |
(16,000) |
(130,560) |
||
|
(291,325) |
|||
FINANCIALS - (5.8)% |
||||
Capital Markets - (2.2)% |
||||
Deutsche Bank AG (NY Shares) |
(2,800) |
(113,316) |
||
Eaton Vance Corp. (non-vtg.) |
(7,700) |
(187,957) |
||
Janus Capital Group, Inc. |
(15,600) |
(113,880) |
||
T. Rowe Price Group, Inc. |
(2,500) |
(133,700) |
||
|
(548,853) |
|||
Commercial Banks - (0.5)% |
||||
First Horizon National Corp. |
(17,396) |
(122,468) |
||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued FINANCIALS - continued |
||||
Real Estate Investment Trusts - (3.1)% |
||||
Corporate Office Properties Trust (SBI) |
(8,200) |
$ (219,678) |
||
DuPont Fabros Technology, Inc. |
(5,500) |
(127,325) |
||
Mack-Cali Realty Corp. |
(7,200) |
(224,280) |
||
Plum Creek Timber Co., Inc. |
(4,600) |
(174,662) |
||
|
(745,945) |
|||
TOTAL FINANCIALS |
(1,417,266) |
|||
HEALTH CARE - (4.2)% |
||||
Biotechnology - (1.5)% |
||||
Myriad Genetics, Inc. |
(10,900) |
(216,147) |
||
Sangamo Biosciences, Inc. |
(27,600) |
(149,316) |
||
|
(365,463) |
|||
Health Care Equipment & Supplies - (2.2)% |
||||
Abaxis, Inc. |
(8,600) |
(213,882) |
||
Neogen Corp. |
(6,200) |
(215,264) |
||
NuVasive, Inc. |
(4,200) |
(101,766) |
||
|
(530,912) |
|||
Life Sciences Tools & Services - (0.5)% |
||||
Illumina, Inc. |
(2,300) |
(119,830) |
||
TOTAL HEALTH CARE |
(1,016,205) |
|||
INDUSTRIALS - (2.8)% |
||||
Airlines - (0.8)% |
||||
AMR Corp. |
(56,700) |
(205,254) |
||
Building Products - (1.0)% |
||||
Masco Corp. |
(27,000) |
(239,490) |
||
Machinery - (1.0)% |
||||
RBC Bearings, Inc. |
(6,400) |
(223,680) |
||
TOTAL INDUSTRIALS |
(668,424) |
|||
SHORT STOCK POSITIONS - continued |
||||
|
Shares |
Value |
||
COMMON STOCKS - continued INFORMATION TECHNOLOGY - (4.8)% |
||||
Communications Equipment - (0.9)% |
||||
F5 Networks, Inc. |
(2,700) |
$ (220,374) |
||
Electronic Equipment & Components - (0.8)% |
||||
Dolby Laboratories, Inc. Class A |
(5,800) |
(194,880) |
||
Semiconductors & Semiconductor Equipment - (3.1)% |
||||
Atmel Corp. |
(24,500) |
(223,195) |
||
FormFactor, Inc. |
(27,900) |
(220,131) |
||
Mattson Technology, Inc. |
(74,900) |
(110,103) |
||
Silicon Laboratories, Inc. |
(6,000) |
(207,420) |
||
|
(760,849) |
|||
TOTAL INFORMATION TECHNOLOGY |
(1,176,103) |
|||
MATERIALS - (3.7)% |
||||
Chemicals - (0.9)% |
||||
The Scotts Miracle-Gro Co. Class A |
(4,700) |
(228,232) |
||
Construction Materials - (0.8)% |
||||
Vulcan Materials Co. |
(5,300) |
(185,659) |
||
Metals & Mining - (1.1)% |
||||
Titanium Metals Corp. |
(15,700) |
(251,671) |
||
Paper & Forest Products - (0.9)% |
||||
Louisiana-Pacific Corp. |
(34,600) |
(230,782) |
||
TOTAL MATERIALS |
(896,344) |
|||
UTILITIES - (1.9)% |
||||
Electric Utilities - (1.2)% |
||||
Progress Energy, Inc. |
(6,100) |
(297,680) |
||
Independent Power Producers & Energy Traders - (0.7)% |
||||
Black Hills Corp. |
(5,300) |
(162,180) |
||
TOTAL UTILITIES |
(459,860) |
|||
TOTAL SHORT STOCK POSITIONS - (29.9)% (Proceeds $8,603,704) |
$ (7,268,237) |
Legend |
(a) Non-income producing |
(b) 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) A portion of the securities, totaling $23,658,921 are pledged with brokers as collateral for securities sold short. |
(d) 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 $38,950 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost |
Facebook, Inc. Class B |
3/31/11 - 5/19/11 |
$ 38,961 |
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 |
$ 1,267 |
Other Information |
The following is a summary of the inputs used, as of August 31, 2011, involving the Fund's assets and liabilities carried at fair 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 |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 4,937,171 |
$ 4,937,171 |
$ - |
$ - |
Consumer Staples |
2,061,751 |
1,333,452 |
728,299 |
- |
Energy |
3,452,377 |
3,452,377 |
- |
- |
Financials |
4,924,462 |
4,924,462 |
- |
- |
Health Care |
3,370,655 |
3,370,655 |
- |
- |
Industrials |
3,121,989 |
3,121,989 |
- |
- |
Information Technology |
5,216,227 |
5,177,277 |
- |
38,950 |
Valuation Inputs at Reporting Date: |
||||
Description |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Materials |
$ 2,034,570 |
$ 2,034,570 |
$ - |
$ - |
Telecommunication Services |
785,109 |
- |
785,109 |
- |
Utilities |
889,746 |
889,746 |
- |
- |
Money Market Funds |
1,332,234 |
1,332,234 |
- |
- |
Short Positions |
(7,268,237) |
(7,268,237) |
- |
- |
Total Investments in Securities: |
$ 24,858,054 |
$ 23,305,696 |
$ 1,513,408 |
$ 38,950 |
The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value: |
Investments in Securities: |
|
Beginning Balance |
$ - |
Total Realized Gain (Loss) |
- |
Total Unrealized Gain (Loss) |
(11) |
Cost of Purchases |
38,961 |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers in to Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ 38,950 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2011 |
$ (11) |
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 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At August 31, 2011, the cost of investment securities for income tax purposes was $33,795,070. Net unrealized depreciation aggregated $1,668,779, of which $1,261,308 related to appreciated investment securities and $2,930,087 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 market or security specific events. The frequency with which these procedures are used cannot be predicted and they 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 are generally 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's 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. or an affiliate. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Growth Company Fund
Growth Company
Class K
Class F
August 31, 2011
1.805820.107
GCF-QTLY-1011
Showing Percentage of Net Assets
Common Stocks - 99.7% |
|||
Shares |
Value (000s) |
||
CONSUMER DISCRETIONARY - 15.2% |
|||
Automobiles - 0.2% |
|||
Ford Motor Co. (a) |
5,645,000 |
$ 62,772 |
|
General Motors Co. |
22,800 |
548 |
|
Tesla Motors, Inc. (a)(d) |
275,000 |
6,804 |
|
|
70,124 |
||
Diversified Consumer Services - 0.5% |
|||
Coinstar, Inc. (a)(d)(e) |
1,851,707 |
84,419 |
|
K12, Inc. (a)(d) |
960,000 |
25,805 |
|
Weight Watchers International, Inc. |
1,503,600 |
90,998 |
|
|
201,222 |
||
Hotels, Restaurants & Leisure - 4.7% |
|||
Arcos Dorados Holdings, Inc. |
1,597,600 |
44,046 |
|
BJ's Restaurants, Inc. (a)(e) |
2,442,104 |
112,752 |
|
Buffalo Wild Wings, Inc. (a) |
894,900 |
55,153 |
|
Chipotle Mexican Grill, Inc. (a) |
300,000 |
94,011 |
|
Darden Restaurants, Inc. |
680,000 |
32,708 |
|
Dunkin' Brands Group, Inc. (a)(d) |
2,581,840 |
68,006 |
|
Home Inns & Hotels Management, Inc. sponsored ADR (a)(d) |
3,215,000 |
122,942 |
|
Hyatt Hotels Corp. Class A (a) |
4,373,440 |
155,301 |
|
Las Vegas Sands Corp. (a) |
2,385,000 |
111,069 |
|
McDonald's Corp. |
6,050,000 |
547,283 |
|
Panera Bread Co. Class A (a) |
935,000 |
107,665 |
|
Starbucks Corp. |
6,538,400 |
252,513 |
|
Starwood Hotels & Resorts Worldwide, Inc. |
680,000 |
30,301 |
|
The Cheesecake Factory, Inc. (a) |
1,515,000 |
41,587 |
|
|
1,775,337 |
||
Household Durables - 1.3% |
|||
Gafisa SA sponsored ADR (d) |
1,570,000 |
14,789 |
|
Lennar Corp. Class A |
2,736,253 |
40,223 |
|
SodaStream International Ltd. (d)(e) |
1,302,972 |
46,190 |
|
Tempur-Pedic International, Inc. (a) |
1,620,000 |
94,349 |
|
Toll Brothers, Inc. (a) |
5,127,787 |
88,147 |
|
Tupperware Brands Corp. (e) |
3,050,000 |
202,825 |
|
|
486,523 |
||
Internet & Catalog Retail - 2.0% |
|||
Amazon.com, Inc. (a) |
2,476,000 |
533,058 |
|
Netflix, Inc. (a) |
286,000 |
67,213 |
|
Priceline.com, Inc. (a) |
293,000 |
157,417 |
|
|
757,688 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
CONSUMER DISCRETIONARY - continued |
|||
Media - 0.4% |
|||
Comcast Corp. Class A |
3,097,500 |
$ 66,627 |
|
IMAX Corp. (a) |
1,040,500 |
18,240 |
|
Pandora Media, Inc. (d) |
2,191,600 |
28,929 |
|
Time Warner, Inc. |
1,025,650 |
32,472 |
|
|
146,268 |
||
Multiline Retail - 0.6% |
|||
Dollar Tree, Inc. (a) |
562,500 |
40,174 |
|
JCPenney Co., Inc. |
3,650,000 |
97,200 |
|
Kohl's Corp. |
1,240,000 |
57,462 |
|
Nordstrom, Inc. |
800,000 |
36,368 |
|
Target Corp. |
140,000 |
7,234 |
|
|
238,438 |
||
Specialty Retail - 1.5% |
|||
Abercrombie & Fitch Co. Class A |
2,160,000 |
137,398 |
|
AutoNation, Inc. (a)(d) |
1,050,000 |
42,399 |
|
Bed Bath & Beyond, Inc. (a) |
1,300,000 |
73,918 |
|
CarMax, Inc. (a) |
720,000 |
20,239 |
|
Express, Inc. |
2,085,000 |
39,803 |
|
Francescas Holdings Corp. (a) |
1,078,679 |
24,734 |
|
GameStop Corp. Class A (a) |
140,000 |
3,350 |
|
Home Depot, Inc. |
1,960,000 |
65,425 |
|
Limited Brands, Inc. |
1,035,000 |
39,061 |
|
Lumber Liquidators Holdings, Inc. (a)(d)(e) |
2,760,167 |
41,789 |
|
Teavana Holdings, Inc. (a)(d) |
449,300 |
11,659 |
|
Tiffany & Co., Inc. |
625,000 |
44,975 |
|
Urban Outfitters, Inc. (a) |
240,000 |
6,282 |
|
|
551,032 |
||
Textiles, Apparel & Luxury Goods - 4.0% |
|||
Coach, Inc. |
2,082,200 |
117,061 |
|
Fossil, Inc. (a)(e) |
5,378,293 |
519,597 |
|
lululemon athletica, Inc. (a)(d)(e) |
12,117,100 |
663,169 |
|
NIKE, Inc. Class B |
1,289,000 |
111,692 |
|
Under Armour, Inc. Class A (sub. vtg.) (a) |
100,000 |
7,086 |
|
Vera Bradley, Inc. (d)(e) |
2,424,357 |
85,095 |
|
|
1,503,700 |
||
TOTAL CONSUMER DISCRETIONARY |
5,730,332 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
CONSUMER STAPLES - 9.7% |
|||
Beverages - 2.1% |
|||
Dr Pepper Snapple Group, Inc. |
1,480,000 |
$ 56,950 |
|
Hansen Natural Corp. (a) |
1,110,000 |
94,705 |
|
PepsiCo, Inc. |
2,826,640 |
182,120 |
|
The Coca-Cola Co. |
6,257,500 |
440,841 |
|
|
774,616 |
||
Food & Staples Retailing - 1.9% |
|||
Costco Wholesale Corp. |
2,345,800 |
184,239 |
|
CVS Caremark Corp. |
2,780 |
100 |
|
Droga Raia SA |
756,000 |
13,297 |
|
Fresh Market, Inc. (d) |
2,348,468 |
90,674 |
|
Kroger Co. |
353,200 |
8,321 |
|
Wal-Mart Stores, Inc. |
2,855,300 |
151,931 |
|
Walgreen Co. |
4,855,000 |
170,945 |
|
Whole Foods Market, Inc. |
1,680,000 |
110,930 |
|
|
730,437 |
||
Food Products - 1.4% |
|||
Archer Daniels Midland Co. |
135,000 |
3,845 |
|
Dean Foods Co. (a) |
1,500,000 |
12,960 |
|
General Mills, Inc. |
1,165,600 |
44,188 |
|
Green Mountain Coffee Roasters, Inc. (a) |
2,162,978 |
226,550 |
|
Hershey Co. |
460,000 |
26,979 |
|
Kellogg Co. |
1,265,000 |
68,715 |
|
Mead Johnson Nutrition Co. Class A |
1,206,800 |
85,985 |
|
Sara Lee Corp. |
685,000 |
12,357 |
|
Smithfield Foods, Inc. (a) |
1,555,000 |
34,086 |
|
|
515,665 |
||
Household Products - 0.8% |
|||
Church & Dwight Co., Inc. |
2,660,000 |
115,816 |
|
Colgate-Palmolive Co. |
1,230,000 |
110,663 |
|
Kimberly-Clark Corp. |
670,000 |
46,337 |
|
Procter & Gamble Co. |
269,483 |
17,161 |
|
|
289,977 |
||
Personal Products - 1.6% |
|||
Avon Products, Inc. |
668,615 |
15,084 |
|
Herbalife Ltd. (e) |
9,925,210 |
553,827 |
|
Nu Skin Enterprises, Inc. Class A |
1,180,000 |
49,902 |
|
|
618,813 |
||
Tobacco - 1.9% |
|||
Altria Group, Inc. |
7,025,380 |
191,020 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
CONSUMER STAPLES - continued |
|||
Tobacco - continued |
|||
Lorillard, Inc. |
305,000 |
$ 33,983 |
|
Philip Morris International, Inc. |
7,180,380 |
497,744 |
|
|
722,747 |
||
TOTAL CONSUMER STAPLES |
3,652,255 |
||
ENERGY - 11.0% |
|||
Energy Equipment & Services - 2.8% |
|||
Baker Hughes, Inc. |
1,060,000 |
64,777 |
|
Carbo Ceramics, Inc. |
820,000 |
131,323 |
|
FMC Technologies, Inc. (a) |
1,850,000 |
82,251 |
|
Halliburton Co. |
4,775,000 |
211,867 |
|
Schlumberger Ltd. |
5,999,600 |
468,689 |
|
Transocean Ltd. (United States) |
1,710,000 |
95,794 |
|
Weatherford International Ltd. (a) |
1,445,000 |
24,753 |
|
|
1,079,454 |
||
Oil, Gas & Consumable Fuels - 8.2% |
|||
Anadarko Petroleum Corp. |
1,627,594 |
120,035 |
|
Apache Corp. |
1,105,000 |
113,892 |
|
Chesapeake Energy Corp. |
10,425,000 |
337,666 |
|
Chevron Corp. |
1,355,000 |
134,023 |
|
Concho Resources, Inc. (a) |
1,135,000 |
98,688 |
|
Continental Resources, Inc. (a) |
1,110,000 |
62,038 |
|
Devon Energy Corp. |
880,000 |
59,690 |
|
EOG Resources, Inc. |
635,000 |
58,795 |
|
Exxon Mobil Corp. |
17,625,000 |
1,304,955 |
|
Hess Corp. |
1,925,000 |
114,230 |
|
Noble Energy, Inc. |
910,000 |
80,408 |
|
Occidental Petroleum Corp. |
1,345,000 |
116,665 |
|
Peabody Energy Corp. |
1,435,000 |
70,028 |
|
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.) |
750,000 |
19,988 |
|
Range Resources Corp. |
2,173,689 |
140,768 |
|
Solazyme, Inc. |
1,554,600 |
21,780 |
|
Southwestern Energy Co. (a) |
3,722,461 |
141,267 |
|
Ultra Petroleum Corp. (a) |
1,160,000 |
38,860 |
|
Valero Energy Corp. |
2,840,000 |
64,525 |
|
|
3,098,301 |
||
TOTAL ENERGY |
4,177,755 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
FINANCIALS - 4.0% |
|||
Capital Markets - 0.6% |
|||
Charles Schwab Corp. |
4,294,975 |
$ 52,957 |
|
Franklin Resources, Inc. |
495,000 |
59,360 |
|
ICG Group, Inc. (a)(e) |
3,775,000 |
38,675 |
|
T. Rowe Price Group, Inc. |
1,015,000 |
54,282 |
|
TD Ameritrade Holding Corp. |
765,000 |
11,766 |
|
|
217,040 |
||
Commercial Banks - 0.7% |
|||
Banco Bradesco SA (PN) sponsored ADR |
2,040,000 |
36,414 |
|
HDFC Bank Ltd. sponsored ADR |
2,375,000 |
79,230 |
|
ICICI Bank Ltd. sponsored ADR |
1,255,000 |
49,397 |
|
PrivateBancorp, Inc. (e) |
3,742,500 |
33,233 |
|
Signature Bank, New York (a) |
656,885 |
36,529 |
|
Wells Fargo & Co. |
1,402,300 |
36,600 |
|
|
271,403 |
||
Consumer Finance - 2.0% |
|||
American Express Co. |
1,492,548 |
74,195 |
|
Discover Financial Services |
27,100,444 |
681,847 |
|
|
756,042 |
||
Diversified Financial Services - 0.6% |
|||
BM&F Bovespa SA |
13,229,772 |
77,536 |
|
Citigroup, Inc. |
1,387,380 |
43,078 |
|
JPMorgan Chase & Co. |
2,380,000 |
89,393 |
|
|
210,007 |
||
Real Estate Management & Development - 0.1% |
|||
The St. Joe Co. (a) |
3,030,135 |
55,876 |
|
TOTAL FINANCIALS |
1,510,368 |
||
HEALTH CARE - 15.4% |
|||
Biotechnology - 10.2% |
|||
Acadia Pharmaceuticals, Inc. (a)(e) |
2,789,844 |
3,794 |
|
Alexion Pharmaceuticals, Inc. (a) |
6,824,060 |
395,420 |
|
Alkermes, Inc. (a)(e) |
10,182,261 |
176,560 |
|
Alnylam Pharmaceuticals, Inc. (a)(d)(e) |
4,214,665 |
29,418 |
|
Amarin Corp. PLC ADR (a) |
700,000 |
8,057 |
|
Amylin Pharmaceuticals, Inc. (a)(e) |
14,442,295 |
163,342 |
|
Array Biopharma, Inc. (a)(e) |
4,758,770 |
10,136 |
|
AVEO Pharmaceuticals, Inc. (a) |
680,600 |
11,557 |
|
Biogen Idec, Inc. (a) |
1,425,000 |
134,235 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
HEALTH CARE - continued |
|||
Biotechnology - continued |
|||
Celgene Corp. (a) |
1,146,744 |
$ 68,197 |
|
Cepheid, Inc. (a)(e) |
6,137,555 |
222,548 |
|
Exelixis, Inc. (a)(e) |
12,783,506 |
95,621 |
|
Gilead Sciences, Inc. (a) |
1,300,000 |
51,851 |
|
Human Genome Sciences, Inc. (a)(e) |
19,066,837 |
245,390 |
|
ImmunoGen, Inc. (a)(d)(e) |
7,525,984 |
81,732 |
|
Immunomedics, Inc. (a)(d)(e) |
7,526,150 |
30,180 |
|
Incyte Corp. (a)(d) |
695,000 |
11,169 |
|
InterMune, Inc. (a)(e) |
5,603,117 |
150,724 |
|
Isis Pharmaceuticals, Inc. (a)(d)(e) |
9,957,871 |
74,584 |
|
Lexicon Pharmaceuticals, Inc. (a)(d)(e) |
33,756,550 |
45,909 |
|
Metabolix, Inc. (a)(d)(e) |
3,155,799 |
17,073 |
|
Micromet, Inc. (a)(d)(e) |
9,204,638 |
44,274 |
|
Momenta Pharmaceuticals, Inc. (a)(d)(e) |
3,255,000 |
55,075 |
|
Myrexis, Inc. (a)(e) |
1,745,124 |
4,729 |
|
Myriad Genetics, Inc. (a) |
488,496 |
9,687 |
|
NPS Pharmaceuticals, Inc. (a)(e) |
7,362,662 |
54,925 |
|
Pharmasset, Inc. (a)(e) |
3,718,283 |
488,285 |
|
Regeneron Pharmaceuticals, Inc. (a)(e) |
8,873,928 |
523,828 |
|
Rigel Pharmaceuticals, Inc. (a)(e) |
6,549,836 |
51,613 |
|
Seattle Genetics, Inc. (a)(d)(e) |
11,377,629 |
197,857 |
|
Transition Therapeutics, Inc. (a)(e) |
2,332,446 |
4,665 |
|
Vertex Pharmaceuticals, Inc. (a) |
8,884,767 |
402,213 |
|
|
3,864,648 |
||
Health Care Equipment & Supplies - 0.7% |
|||
Baxter International, Inc. |
505,000 |
28,270 |
|
DexCom, Inc. (a) |
850,000 |
10,226 |
|
Edwards Lifesciences Corp. (a) |
600,000 |
45,270 |
|
HeartWare International, Inc. (a)(d) |
662,101 |
41,587 |
|
Insulet Corp. (a)(d)(e) |
3,856,400 |
67,410 |
|
Masimo Corp. |
615,000 |
15,172 |
|
Medtronic, Inc. |
754,964 |
26,477 |
|
St. Jude Medical, Inc. |
834,200 |
37,989 |
|
|
272,401 |
||
Health Care Providers & Services - 1.0% |
|||
Cardinal Health, Inc. |
485,000 |
20,613 |
|
McKesson Corp. |
1,930,000 |
154,265 |
|
Medco Health Solutions, Inc. (a) |
612,720 |
33,173 |
|
UnitedHealth Group, Inc. |
3,486,400 |
165,674 |
|
|
373,725 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
HEALTH CARE - continued |
|||
Health Care Technology - 0.4% |
|||
athenahealth, Inc. (a) |
99,100 |
$ 5,748 |
|
Cerner Corp. (a) |
970,000 |
63,981 |
|
SXC Health Solutions Corp. (a) |
1,645,800 |
89,702 |
|
|
159,431 |
||
Life Sciences Tools & Services - 0.2% |
|||
Illumina, Inc. (a) |
1,039,878 |
54,178 |
|
Pharmaceuticals - 2.9% |
|||
Abbott Laboratories |
1,111,500 |
58,365 |
|
Allergan, Inc. |
1,775,000 |
145,213 |
|
Bristol-Myers Squibb Co. |
1,239,700 |
36,881 |
|
Concert Pharmaceuticals, Inc. (a)(g) |
186,198 |
151 |
|
Elan Corp. PLC sponsored ADR (a) |
42,364,070 |
452,025 |
|
Endocyte, Inc. (e) |
1,919,194 |
21,034 |
|
Hospira, Inc. (a) |
218,000 |
10,072 |
|
Johnson & Johnson |
83,300 |
5,481 |
|
MAP Pharmaceuticals, Inc. (a)(e) |
2,729,636 |
38,215 |
|
Merck & Co., Inc. |
660,668 |
21,881 |
|
Teva Pharmaceutical Industries Ltd. sponsored ADR |
705,000 |
29,159 |
|
Valeant Pharmaceuticals International, Inc. (Canada) |
6,402,261 |
287,029 |
|
|
1,105,506 |
||
TOTAL HEALTH CARE |
5,829,889 |
||
INDUSTRIALS - 7.0% |
|||
Aerospace & Defense - 2.0% |
|||
Honeywell International, Inc. |
3,220,000 |
153,948 |
|
Lockheed Martin Corp. |
1,040,100 |
77,165 |
|
The Boeing Co. |
2,539,800 |
169,811 |
|
United Technologies Corp. |
4,925,000 |
365,681 |
|
|
766,605 |
||
Air Freight & Logistics - 0.6% |
|||
United Parcel Service, Inc. Class B |
3,564,000 |
240,178 |
|
Airlines - 0.7% |
|||
JetBlue Airways Corp. (a)(d)(e) |
29,384,923 |
127,824 |
|
Ryanair Holdings PLC sponsored ADR |
1,140,000 |
30,119 |
|
Southwest Airlines Co. |
9,498,515 |
81,877 |
|
United Continental Holdings, Inc. (a) |
935,000 |
17,382 |
|
|
257,202 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INDUSTRIALS - continued |
|||
Construction & Engineering - 0.5% |
|||
Fluor Corp. |
805,000 |
$ 48,880 |
|
Orascom Construction Industries SAE GDR |
3,392,575 |
138,383 |
|
|
187,263 |
||
Electrical Equipment - 0.2% |
|||
Emerson Electric Co. |
1,710,000 |
79,601 |
|
Industrial Conglomerates - 0.5% |
|||
3M Co. |
865,000 |
71,778 |
|
Danaher Corp. |
2,505,000 |
114,754 |
|
|
186,532 |
||
Machinery - 1.5% |
|||
Caterpillar, Inc. |
3,560,000 |
323,960 |
|
Cummins, Inc. |
1,760,000 |
163,539 |
|
Deere & Co. |
845,000 |
68,293 |
|
Pall Corp. |
385,000 |
19,685 |
|
|
575,477 |
||
Road & Rail - 1.0% |
|||
CSX Corp. |
4,965,000 |
108,932 |
|
Norfolk Southern Corp. |
1,065,000 |
72,079 |
|
Union Pacific Corp. |
2,020,000 |
186,183 |
|
|
367,194 |
||
TOTAL INDUSTRIALS |
2,660,052 |
||
INFORMATION TECHNOLOGY - 33.0% |
|||
Communications Equipment - 3.0% |
|||
Acme Packet, Inc. (a) |
1,350,000 |
63,572 |
|
Aruba Networks, Inc. (a) |
1,198,031 |
25,554 |
|
F5 Networks, Inc. (a) |
855,000 |
69,785 |
|
Infinera Corp. (a)(e) |
10,123,181 |
76,076 |
|
Juniper Networks, Inc. (a) |
460,000 |
9,628 |
|
QUALCOMM, Inc. |
10,493,400 |
539,990 |
|
Research In Motion Ltd. (a) |
232,800 |
7,564 |
|
Riverbed Technology, Inc. (a)(e) |
13,905,290 |
344,573 |
|
|
1,136,742 |
||
Computers & Peripherals - 6.6% |
|||
Apple, Inc. (a) |
5,955,959 |
2,292,027 |
|
Fusion-io, Inc. (d) |
2,586,756 |
64,772 |
|
Hewlett-Packard Co. |
960,000 |
24,989 |
|
NetApp, Inc. (a) |
1,259,686 |
47,389 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INFORMATION TECHNOLOGY - continued |
|||
Computers & Peripherals - continued |
|||
SanDisk Corp. (a) |
105,000 |
$ 3,848 |
|
Silicon Graphics International Corp. (a)(d)(e) |
2,974,671 |
47,387 |
|
|
2,480,412 |
||
Electronic Equipment & Components - 0.3% |
|||
Corning, Inc. |
583,000 |
8,762 |
|
Trimble Navigation Ltd. (a) |
895,000 |
33,240 |
|
Universal Display Corp. (a)(d) |
1,471,615 |
72,212 |
|
|
114,214 |
||
Internet Software & Services - 5.6% |
|||
Akamai Technologies, Inc. (a) |
755,000 |
16,565 |
|
AOL, Inc. (a)(d) |
4,465,863 |
69,578 |
|
Baidu.com, Inc. sponsored ADR (a) |
2,985,000 |
435,153 |
|
eBay, Inc. (a) |
4,367,200 |
134,815 |
|
Facebook, Inc. Class B (a)(g) |
1,758,114 |
43,953 |
|
Google, Inc. Class A (a) |
1,862,448 |
1,007,510 |
|
LogMeIn, Inc. (a) |
170,000 |
5,313 |
|
Mail.ru Group Ltd. GDR (a)(f) |
1,577,600 |
56,762 |
|
Mercadolibre, Inc. |
350,000 |
23,583 |
|
OpenTable, Inc. (a)(d) |
192,300 |
11,728 |
|
Rackspace Hosting, Inc. (a) |
3,939,136 |
144,015 |
|
SINA Corp. (a)(d) |
635,000 |
68,205 |
|
VeriSign, Inc. |
890,000 |
27,724 |
|
Yandex NV |
720,000 |
22,298 |
|
YouKu.com, Inc. ADR (a)(d) |
1,865,000 |
46,756 |
|
|
2,113,958 |
||
IT Services - 3.2% |
|||
Cognizant Technology Solutions Corp. Class A (a) |
1,734,716 |
110,068 |
|
International Business Machines Corp. |
2,939,800 |
505,381 |
|
MasterCard, Inc. Class A |
440,000 |
145,072 |
|
ServiceSource International, Inc. (d) |
1,487,000 |
26,870 |
|
The Western Union Co. |
1,360,000 |
22,467 |
|
VeriFone Systems, Inc. (a) |
2,608,010 |
91,854 |
|
Visa, Inc. Class A |
3,544,100 |
311,456 |
|
|
1,213,168 |
||
Semiconductors & Semiconductor Equipment - 4.9% |
|||
Altera Corp. |
345,000 |
12,555 |
|
ARM Holdings PLC sponsored ADR |
1,400,000 |
38,612 |
|
ASML Holding NV |
648,888 |
22,886 |
|
Atmel Corp. (a) |
6,360,000 |
57,940 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INFORMATION TECHNOLOGY - continued |
|||
Semiconductors & Semiconductor Equipment - continued |
|||
Broadcom Corp. Class A |
2,600,000 |
$ 92,690 |
|
Cree, Inc. (a)(d) |
2,826,131 |
91,651 |
|
Cypress Semiconductor Corp. (e) |
16,803,240 |
266,163 |
|
First Solar, Inc. (a)(d) |
190,000 |
18,996 |
|
GT Advanced Technologies, Inc. (a)(d) |
795,000 |
9,707 |
|
International Rectifier Corp. (a)(e) |
3,780,000 |
86,146 |
|
KLA-Tencor Corp. |
510,000 |
18,707 |
|
Marvell Technology Group Ltd. (a) |
1,918,310 |
25,226 |
|
MaxLinear, Inc. Class A (a)(e) |
2,354,608 |
13,539 |
|
Mellanox Technologies Ltd. (a)(e) |
3,336,434 |
98,258 |
|
NVIDIA Corp. (a) |
28,770,000 |
382,929 |
|
NXP Semiconductors NV |
1,285,000 |
20,933 |
|
Rambus, Inc. (a)(d)(e) |
11,457,400 |
133,020 |
|
Samsung Electronics Co. Ltd. |
50,000 |
34,933 |
|
Semtech Corp. (a) |
1,400,000 |
29,862 |
|
Silicon Image, Inc. (a)(e) |
6,331,033 |
33,744 |
|
Silicon Laboratories, Inc. (a)(e) |
4,600,680 |
159,046 |
|
Tessera Technologies, Inc. (a) |
2,506,903 |
35,297 |
|
Texas Instruments, Inc. |
3,461,000 |
90,713 |
|
Trina Solar Ltd. (a)(d) |
990,000 |
15,721 |
|
Volterra Semiconductor Corp. (a)(e) |
2,573,305 |
52,109 |
|
|
1,841,383 |
||
Software - 9.4% |
|||
Activision Blizzard, Inc. |
750,000 |
8,880 |
|
Adobe Systems, Inc. (a) |
668,236 |
16,866 |
|
Citrix Systems, Inc. (a) |
1,551,377 |
93,750 |
|
Electronic Arts, Inc. (a) |
60,000 |
1,355 |
|
Fortinet, Inc. (a) |
4,529,600 |
86,651 |
|
Informatica Corp. (a) |
525,000 |
21,935 |
|
Intuit, Inc. |
1,145,000 |
56,483 |
|
Microsoft Corp. |
9,555,000 |
254,163 |
|
Oracle Corp. |
13,865,000 |
389,191 |
|
QLIK Technologies, Inc. (a)(d)(e) |
6,807,276 |
172,769 |
|
RealPage, Inc. (d) |
2,674,991 |
55,693 |
|
Red Hat, Inc. (a)(e) |
15,243,586 |
602,731 |
|
salesforce.com, Inc. (a)(e) |
9,260,594 |
1,192,301 |
|
Solera Holdings, Inc. |
1,950,051 |
114,370 |
|
SuccessFactors, Inc. (a)(e) |
7,902,112 |
184,593 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INFORMATION TECHNOLOGY - continued |
|||
Software - continued |
|||
TiVo, Inc. (a)(d)(e) |
11,624,576 |
$ 123,221 |
|
VMware, Inc. Class A (a) |
2,057,533 |
194,149 |
|
|
3,569,101 |
||
TOTAL INFORMATION TECHNOLOGY |
12,468,978 |
||
MATERIALS - 4.3% |
|||
Chemicals - 2.5% |
|||
CF Industries Holdings, Inc. |
1,060,000 |
193,789 |
|
Dow Chemical Co. |
5,080,000 |
144,526 |
|
E.I. du Pont de Nemours & Co. |
2,380,000 |
114,883 |
|
Minerals Technologies, Inc. (e) |
1,242,580 |
72,082 |
|
Monsanto Co. |
3,359,978 |
231,603 |
|
OM Group, Inc. (a) |
196,925 |
6,229 |
|
Potash Corp. of Saskatchewan, Inc. |
678,600 |
39,128 |
|
The Mosaic Co. |
1,985,000 |
141,193 |
|
|
943,433 |
||
Metals & Mining - 1.8% |
|||
Alcoa, Inc. |
2,750,000 |
35,228 |
|
Barrick Gold Corp. |
1,554,000 |
79,112 |
|
Fortescue Metals Group Ltd. |
15,845,000 |
102,515 |
|
Freeport-McMoRan Copper & Gold, Inc. |
5,070,000 |
239,000 |
|
Molycorp, Inc. (a)(d) |
1,977,400 |
111,763 |
|
Mongolian Mining Corp. |
25,802,500 |
28,534 |
|
Newmont Mining Corp. |
1,290,000 |
80,780 |
|
Nucor Corp. |
200,000 |
7,216 |
|
|
684,148 |
||
TOTAL MATERIALS |
1,627,581 |
||
TELECOMMUNICATION SERVICES - 0.1% |
|||
Wireless Telecommunication Services - 0.1% |
|||
Clearwire Corp. Class A (a)(d) |
8,089,050 |
25,966 |
|
TOTAL COMMON STOCKS (Cost $27,887,578) |
|
||
Preferred Stocks - 0.1% |
|||
Shares |
Value (000s) |
||
Convertible Preferred Stocks - 0.1% |
|||
CONSUMER DISCRETIONARY - 0.1% |
|||
Textiles, Apparel & Luxury Goods - 0.1% |
|||
Michael Kors Holdings Ltd. (g) |
434,274 |
$ 20,000 |
|
HEALTH CARE - 0.0% |
|||
Biotechnology - 0.0% |
|||
Perlegen Sciences, Inc. Series D, 8.00% (a)(g) |
12,820,512 |
0 |
|
Pharmaceuticals - 0.0% |
|||
Concert Pharmaceuticals, Inc. Series C, 6.00% (a)(g) |
4,000,000 |
7,160 |
|
Merrimack Pharmaceuticals, Inc. Series G (g) |
1,428,572 |
10,000 |
|
|
17,160 |
||
TOTAL CONVERTIBLE PREFERRED STOCKS |
37,160 |
||
Nonconvertible Preferred Stocks - 0.0% |
|||
CONSUMER DISCRETIONARY - 0.0% |
|||
Automobiles - 0.0% |
|||
Volkswagen AG |
70,000 |
11,661 |
|
TOTAL PREFERRED STOCKS (Cost $71,393) |
|
||
Money Market Funds - 2.7% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.11% (b) |
88,237,295 |
88,237 |
|
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c) |
947,527,472 |
947,527 |
|
TOTAL MONEY MARKET FUNDS (Cost $1,035,764) |
|
||
TOTAL INVESTMENT PORTFOLIO - 102.5% (Cost $28,994,735) |
38,767,761 |
||
NET OTHER ASSETS (LIABILITIES) - (2.5)% |
(957,501) |
||
NET ASSETS - 100% |
$ 37,810,260 |
Legend |
(a) Non-income producing |
(b) 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
(f) 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 $56,762,000 or 0.2% of net assets. |
(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 $81,264,000 or 0.2% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition |
Acquisition |
Concert Pharmaceuticals, Inc. |
2/9/09 |
$ 151 |
Concert Pharmaceuticals, Inc. Series C, 6.00% |
4/25/08 |
$ 10,000 |
Facebook, Inc. Class B |
3/31/11 - 5/19/11 |
$ 43,965 |
Merrimack Pharmaceuticals, Inc. Series G |
3/31/11 |
$ 10,000 |
Michael Kors Holdings Ltd. |
7/8/11 |
$ 20,000 |
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 |
Fidelity Cash Central Fund |
$ 99 |
Fidelity Securities Lending Cash Central Fund |
8,281 |
Total |
$ 8,380 |
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 |
Value, |
Purchases |
Sales |
Dividend |
Value, |
Acadia Pharmaceuticals, Inc. |
$ 1,903 |
$ - |
$ 84 |
$ - |
$ 3,794 |
Acorda Therapeutics, Inc. |
63,211 |
- |
61,122 |
- |
- |
Alexion Pharmaceuticals, Inc. |
568,561 |
- |
394,457 |
- |
- |
Alkermes, Inc. |
106,710 |
- |
- |
- |
176,560 |
Alnylam Pharmaceuticals, Inc. |
38,564 |
- |
- |
- |
29,418 |
Amylin Pharmaceuticals, Inc. |
184,117 |
847 |
- |
- |
163,342 |
Array Biopharma, Inc. |
15,276 |
- |
- |
- |
10,136 |
Atheros Communications, Inc. |
203,294 |
- |
278,202 |
- |
- |
Atheros Communications, Inc. |
56,703 |
- |
78,367 |
- |
- |
Auxilium Pharmaceuticals, Inc. |
68,703 |
- |
79,953 |
- |
- |
BJ's Restaurants, Inc. |
99,270 |
1,325 |
13,313 |
- |
112,752 |
Celera Corp. |
44,735 |
- |
60,091 |
- |
- |
Cepheid, Inc. |
117,604 |
4,249 |
- |
- |
222,548 |
Coinstar, Inc. |
210,829 |
13,693 |
70,515 |
- |
84,419 |
Cypress Semiconductor Corp. |
256,903 |
8,184 |
- |
1,512 |
266,163 |
Dendreon Corp. |
465,871 |
- |
452,101 |
- |
- |
Endocyte, Inc. |
- |
16,293 |
- |
- |
21,034 |
Exelixis, Inc. |
59,051 |
25,745 |
- |
- |
95,621 |
Fossil, Inc. |
192,787 |
244,193 |
- |
- |
519,597 |
Fresh Market, Inc. |
50,253 |
82,148 |
42,515 |
- |
- |
HeartWare International, Inc. |
104,568 |
- |
29,054 |
- |
- |
Herbalife Ltd. |
305,517 |
48,154 |
- |
5,074 |
553,827 |
Human Genome Sciences, Inc. |
411,813 |
55,195 |
- |
- |
245,390 |
ImmunoGen, Inc. |
56,534 |
8,772 |
- |
- |
81,732 |
Immunomedics, Inc. |
23,707 |
- |
- |
- |
30,180 |
Infinera Corp. |
82,605 |
- |
- |
- |
76,076 |
Insulet Corp. |
50,974 |
1,977 |
- |
- |
67,410 |
InterMune, Inc. |
69,535 |
17,271 |
5,984 |
- |
150,724 |
Affiliates |
Value, |
Purchases |
Sales |
Dividend |
Value, |
ICG Group, Inc. (formerly Internet Capital Group, Inc.) |
$ 46,772 |
$ - |
$ - |
$ - |
$ 38,675 |
International Rectifier Corp. |
166,473 |
18,253 |
71,916 |
- |
86,146 |
Isis Pharmaceuticals, Inc. |
93,573 |
360 |
- |
- |
74,584 |
JetBlue Airways Corp. |
199,485 |
36 |
- |
- |
127,824 |
Lexicon Pharmaceuticals, Inc. |
41,877 |
6,054 |
- |
- |
45,909 |
lululemon athletica, Inc. |
371,777 |
- |
81,269 |
- |
663,169 |
Lumber Liquidators Holdings, Inc. |
59,092 |
5,454 |
- |
- |
41,789 |
MAP Pharmaceuticals, Inc. |
38,297 |
920 |
- |
- |
38,215 |
MaxLinear, Inc. Class A |
21,261 |
3,944 |
- |
- |
13,539 |
MediFast, Inc. |
37,512 |
- |
27,423 |
- |
- |
Mellanox Technologies Ltd. |
75,591 |
4,976 |
- |
- |
98,258 |
Metabolix, Inc. |
23,427 |
7,065 |
- |
- |
17,073 |
Micromet, Inc. |
63,065 |
2,791 |
- |
- |
44,274 |
Minerals Technologies, Inc. |
117,274 |
- |
39,424 |
259 |
72,082 |
Momenta Pharmaceuticals, Inc. |
49,639 |
- |
- |
- |
55,075 |
Myrexis, Inc. |
8,111 |
- |
1,295 |
- |
4,729 |
NPS Pharmaceuticals, Inc. |
32,578 |
20,497 |
1,650 |
- |
54,925 |
OM Group, Inc. |
88,736 |
69 |
73,180 |
- |
- |
OpenTable, Inc. |
155,040 |
- |
152,825 |
- |
- |
Pharmasset, Inc. |
146,935 |
19,798 |
- |
- |
488,285 |
Power Integrations, Inc. |
61,403 |
- |
60,395 |
17 |
- |
PrivateBancorp, Inc. |
22,162 |
27,060 |
- |
68 |
33,233 |
QLIK Technologies, Inc. |
48,800 |
141,874 |
13,132 |
- |
172,769 |
Rambus, Inc. |
229,263 |
- |
- |
- |
133,020 |
Red Hat, Inc. |
821,871 |
- |
153,083 |
- |
602,731 |
Regeneron Pharmaceuticals, Inc. |
246,213 |
17,733 |
- |
- |
523,828 |
Rigel Pharmaceuticals, Inc. |
41,472 |
11,798 |
- |
- |
51,613 |
Riverbed Technology, Inc. |
412,019 |
64,096 |
- |
- |
344,573 |
Rubicon Technology, Inc. |
32,154 |
- |
24,425 |
- |
- |
salesforce.com, Inc. |
1,682,556 |
- |
386,005 |
- |
1,192,301 |
Affiliates |
Value, |
Purchases |
Sales |
Dividend |
Value, |
Seattle Genetics, Inc. |
$ 152,840 |
$ 19,617 |
$ - |
$ - |
$ 197,857 |
Silicon Graphics International Corp. |
- |
55,081 |
- |
- |
47,387 |
Silicon Image, Inc. |
- |
56,438 |
- |
- |
33,744 |
Silicon Laboratories, Inc. |
195,437 |
- |
- |
- |
159,046 |
SodaStream International Ltd. |
- |
62,221 |
- |
- |
46,190 |
SuccessFactors, Inc. |
229,086 |
11,979 |
- |
- |
184,593 |
Tessera Technologies, Inc. |
92,918 |
5,584 |
39,400 |
- |
- |
TiVo, Inc. |
94,732 |
1,164 |
- |
- |
123,221 |
Transition Therapeutics, Inc. |
5,839 |
- |
- |
- |
4,665 |
Tupperware Brands Corp. |
138,046 |
33,142 |
28,416 |
2,912 |
202,825 |
Universal Display Corp. |
94,559 |
30,684 |
104,413 |
- |
- |
Vera Bradley, Inc. |
46,059 |
65,811 |
27,883 |
- |
85,095 |
VeriFone Systems, Inc. |
298,260 |
- |
248,702 |
- |
- |
Vertex Pharmaceuticals, Inc. |
385,900 |
90,862 |
216,076 |
- |
- |
Volterra Semiconductor Corp. |
55,865 |
2,190 |
- |
- |
52,109 |
Total |
$ 11,133,567 |
$ 1,315,597 |
$ 3,316,670 |
$ 9,842 |
$ 9,066,074 |
Other Information |
The following is a summary of the inputs used, as of August 31, 2011, involving the Fund's assets and liabilities carried at fair 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 |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 5,761,993 |
$ 5,741,993 |
$ - |
$ 20,000 |
Consumer Staples |
3,652,255 |
3,652,255 |
- |
- |
Energy |
4,177,755 |
4,177,755 |
- |
- |
Financials |
1,510,368 |
1,510,368 |
- |
- |
Health Care |
5,847,049 |
5,829,738 |
- |
17,311 |
Industrials |
2,660,052 |
2,660,052 |
- |
- |
Information Technology |
12,468,978 |
12,425,025 |
- |
43,953 |
Materials |
1,627,581 |
1,627,581 |
- |
- |
Telecommunication Services |
25,966 |
25,966 |
- |
- |
Money Market Funds |
1,035,764 |
1,035,764 |
- |
- |
Total Investments in Securities: |
$ 38,767,761 |
$ 38,686,497 |
$ - |
$ 81,264 |
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 |
$ 7,311 |
Total Realized Gain (Loss) |
- |
Total Unrealized Gain (Loss) |
(12) |
Cost of Purchases |
73,965 |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers in to Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ 81,264 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2011 |
$ (12) |
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 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At August 31, 2011, the cost of investment securities for income tax purposes was $29,114,484,000. Net unrealized appreciation aggregated $9,653,277,000, of which $12,692,233,000 related to appreciated investment securities and $3,038,956,000 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 market or security specific events. The frequency with which these procedures are used cannot be predicted and they 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 are generally 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's 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 see the fund's most recent prospectus and annual report. or an affiliate. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® Growth Strategies Fund - Growth Strategies
Class K
August 31, 2011
1.805759.107
FEG-QTLY-1011
Showing Percentage of Net Assets
Common Stocks - 92.9% |
|||
Shares |
Value (000s) |
||
CONSUMER DISCRETIONARY - 12.9% |
|||
Automobiles - 0.6% |
|||
Tesla Motors, Inc. (a) |
475,017 |
$ 11,752 |
|
Distributors - 0.0% |
|||
Indiabulls Wholesale Services Ltd. |
656,444 |
75 |
|
Diversified Consumer Services - 1.0% |
|||
Weight Watchers International, Inc. |
297,139 |
17,983 |
|
Hotels, Restaurants & Leisure - 4.2% |
|||
Las Vegas Sands Corp. (a) |
634,903 |
29,567 |
|
Panera Bread Co. Class A (a) |
267,559 |
30,809 |
|
Wynn Resorts Ltd. |
126,500 |
19,572 |
|
|
79,948 |
||
Internet & Catalog Retail - 1.5% |
|||
Priceline.com, Inc. (a) |
54,462 |
29,260 |
|
Media - 1.2% |
|||
Discovery Communications, Inc. (a) |
536,568 |
22,686 |
|
Specialty Retail - 3.4% |
|||
Abercrombie & Fitch Co. Class A |
267,588 |
17,021 |
|
Body Central Corp. |
256,348 |
4,448 |
|
Limited Brands, Inc. |
544,850 |
20,563 |
|
Tractor Supply Co. |
375,497 |
23,044 |
|
|
65,076 |
||
Textiles, Apparel & Luxury Goods - 1.0% |
|||
PVH Corp. |
294,831 |
19,653 |
|
TOTAL CONSUMER DISCRETIONARY |
246,433 |
||
CONSUMER STAPLES - 8.4% |
|||
Beverages - 3.9% |
|||
Hansen Natural Corp. (a) |
481,684 |
41,097 |
|
Heckmann Corp. (a)(d) |
5,760,236 |
33,352 |
|
|
74,449 |
||
Food & Staples Retailing - 1.6% |
|||
Whole Foods Market, Inc. |
462,000 |
30,506 |
|
Food Products - 2.9% |
|||
Green Mountain Coffee Roasters, Inc. (a) |
243,001 |
25,452 |
|
Mead Johnson Nutrition Co. Class A |
331,942 |
23,651 |
|
Origin Agritech Ltd. (a)(d)(e) |
2,515,000 |
7,294 |
|
|
56,397 |
||
TOTAL CONSUMER STAPLES |
161,352 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
ENERGY - 14.6% |
|||
Energy Equipment & Services - 3.0% |
|||
Cameron International Corp. (a) |
369,800 |
$ 19,215 |
|
Dresser-Rand Group, Inc. (a) |
416,447 |
17,678 |
|
Rowan Companies, Inc. (a) |
559,300 |
20,174 |
|
|
57,067 |
||
Oil, Gas & Consumable Fuels - 11.6% |
|||
Alpha Natural Resources, Inc. (a) |
301,500 |
9,971 |
|
Amyris, Inc. (d) |
389,236 |
7,812 |
|
Bumi PLC |
2,214,443 |
34,878 |
|
Cabot Oil & Gas Corp. |
267,500 |
20,293 |
|
Concho Resources, Inc. (a) |
110,600 |
9,617 |
|
Continental Resources, Inc. (a) |
340,600 |
19,036 |
|
El Paso Corp. |
1,118,900 |
21,416 |
|
EV Energy Partners LP |
264,331 |
18,207 |
|
EXCO Resources, Inc. |
680,900 |
9,110 |
|
Oasis Petroleum, Inc. (a)(d) |
389,200 |
10,353 |
|
Peabody Energy Corp. |
418,155 |
20,406 |
|
Plains Exploration & Production Co. (a) |
326,000 |
9,588 |
|
QEP Resources, Inc. |
521,800 |
18,373 |
|
Solazyme, Inc. (d) |
300,000 |
4,203 |
|
Whiting Petroleum Corp. (a) |
204,500 |
9,634 |
|
|
222,897 |
||
TOTAL ENERGY |
279,964 |
||
FINANCIALS - 1.5% |
|||
Real Estate Investment Trusts - 1.0% |
|||
SL Green Realty Corp. |
267,527 |
19,326 |
|
Real Estate Management & Development - 0.5% |
|||
Jones Lang LaSalle, Inc. |
131,348 |
8,788 |
|
TOTAL FINANCIALS |
28,114 |
||
HEALTH CARE - 14.7% |
|||
Biotechnology - 5.4% |
|||
Alexion Pharmaceuticals, Inc. (a) |
379,870 |
22,012 |
|
Human Genome Sciences, Inc. (a)(d) |
1,644,144 |
21,160 |
|
Idenix Pharmaceuticals, Inc. (a) |
3,269,284 |
18,995 |
|
United Therapeutics Corp. (a) |
521,032 |
22,483 |
|
Vertex Pharmaceuticals, Inc. (a) |
413,500 |
18,719 |
|
|
103,369 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
HEALTH CARE - continued |
|||
Health Care Equipment & Supplies - 8.0% |
|||
ArthroCare Corp. (a) |
1,089,534 |
$ 35,334 |
|
Cyberonics, Inc. (a) |
1,386,093 |
39,102 |
|
Edwards Lifesciences Corp. (a) |
299,545 |
22,601 |
|
NuVasive, Inc. (a)(d) |
622,062 |
15,073 |
|
Volcano Corp. (a) |
682,160 |
20,431 |
|
Zoll Medical Corp. (a) |
461,881 |
20,637 |
|
|
153,178 |
||
Health Care Providers & Services - 0.5% |
|||
Catalyst Health Solutions, Inc. (a) |
180,292 |
9,685 |
|
Health Care Technology - 0.5% |
|||
Merge Healthcare, Inc. (a) |
1,770,089 |
10,479 |
|
Life Sciences Tools & Services - 0.3% |
|||
Sequenom, Inc. (a) |
813,703 |
4,988 |
|
TOTAL HEALTH CARE |
281,699 |
||
INDUSTRIALS - 11.2% |
|||
Building Products - 1.9% |
|||
Lennox International, Inc. |
599,603 |
18,720 |
|
Owens Corning (a) |
589,200 |
17,122 |
|
|
35,842 |
||
Construction & Engineering - 1.1% |
|||
Fluor Corp. |
340,500 |
20,675 |
|
Electrical Equipment - 2.0% |
|||
Cooper Industries PLC Class A |
408,900 |
19,374 |
|
Roper Industries, Inc. |
262,650 |
20,211 |
|
|
39,585 |
||
Machinery - 5.7% |
|||
CNH Global NV (a) |
633,749 |
20,990 |
|
Dover Corp. |
340,500 |
19,586 |
|
IDEX Corp. |
321,000 |
11,935 |
|
Ingersoll-Rand Co. Ltd. |
572,825 |
19,195 |
|
Pall Corp. |
432,800 |
22,129 |
|
WABCO Holdings, Inc. (a) |
322,723 |
15,055 |
|
|
108,890 |
||
Marine - 0.5% |
|||
Ultrapetrol (Bahamas) Ltd. (a)(d)(e) |
2,953,982 |
9,866 |
|
TOTAL INDUSTRIALS |
214,858 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INFORMATION TECHNOLOGY - 16.6% |
|||
Communications Equipment - 2.1% |
|||
Polycom, Inc. (a) |
1,367,755 |
$ 32,553 |
|
Riverbed Technology, Inc. (a) |
302,796 |
7,503 |
|
|
40,056 |
||
Computers & Peripherals - 0.5% |
|||
SanDisk Corp. (a) |
252,900 |
9,269 |
|
Electronic Equipment & Components - 0.9% |
|||
Maxwell Technologies, Inc. (a)(d) |
957,347 |
16,591 |
|
Internet Software & Services - 1.7% |
|||
Blinkx PLC (a) |
832,657 |
1,545 |
|
Mail.ru Group Ltd. GDR (Reg. S) |
153,600 |
5,527 |
|
Rackspace Hosting, Inc. (a) |
524,254 |
19,167 |
|
Velti PLC (a) |
713,300 |
6,748 |
|
|
32,987 |
||
IT Services - 1.0% |
|||
Cognizant Technology Solutions Corp. Class A (a) |
298,550 |
18,943 |
|
Semiconductors & Semiconductor Equipment - 1.0% |
|||
Ceva, Inc. (a) |
500,599 |
13,316 |
|
Freescale Semiconductor Holdings I Ltd. |
583,200 |
6,707 |
|
|
20,023 |
||
Software - 9.4% |
|||
ANSYS, Inc. (a) |
394,371 |
21,288 |
|
Ariba, Inc. (a) |
355,100 |
9,634 |
|
Autodesk, Inc. (a) |
618,999 |
17,456 |
|
Check Point Software Technologies Ltd. (a) |
180,053 |
9,802 |
|
Citrix Systems, Inc. (a) |
316,094 |
19,102 |
|
Informatica Corp. (a) |
436,467 |
18,236 |
|
Intuit, Inc. |
457,500 |
22,568 |
|
Magma Design Automation, Inc. (a)(e) |
4,486,382 |
22,836 |
|
Nuance Communications, Inc. (a) |
1,037,072 |
19,248 |
|
Rovi Corp. (a) |
414,324 |
20,256 |
|
|
180,426 |
||
TOTAL INFORMATION TECHNOLOGY |
318,295 |
||
MATERIALS - 13.0% |
|||
Chemicals - 8.8% |
|||
CF Industries Holdings, Inc. |
472,622 |
86,398 |
|
CVR Partners LP |
1,491,393 |
36,286 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
MATERIALS - continued |
|||
Chemicals - continued |
|||
Monsanto Co. |
301,600 |
$ 20,789 |
|
The Mosaic Co. |
350,298 |
24,917 |
|
|
168,390 |
||
Metals & Mining - 4.2% |
|||
First Quantum Minerals Ltd. (d) |
900,500 |
22,154 |
|
Fortescue Metals Group Ltd. |
1,605,080 |
10,385 |
|
Ivanhoe Mines Ltd. (a) |
951,700 |
21,878 |
|
Vallares PLC |
319,300 |
5,120 |
|
Walter Energy, Inc. |
243,100 |
19,871 |
|
|
79,408 |
||
TOTAL MATERIALS |
247,798 |
||
TOTAL COMMON STOCKS (Cost $1,872,541) |
1,778,513 |
||
Nonconvertible Preferred Stocks - 2.0% |
|||
|
|
|
|
CONSUMER DISCRETIONARY - 2.0% |
|||
Automobiles - 2.0% |
|||
Porsche Automobil Holding SE (Germany) (Cost $35,229) |
554,050 |
37,518 |
|
Money Market Funds - 5.0% |
|||
|
|
|
|
Fidelity Cash Central Fund, 0.11% (b) |
42,120,471 |
42,120 |
|
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c) |
53,971,025 |
53,971 |
|
TOTAL MONEY MARKET FUNDS (Cost $96,091) |
96,091 |
||
TOTAL INVESTMENT PORTFOLIO - 99.9% (Cost $2,003,861) |
1,912,122 |
||
NET OTHER ASSETS (LIABILITIES) - 0.1% |
2,075 |
||
NET ASSETS - 100% |
$ 1,914,197 |
Legend |
(a) Non-income producing |
(b) 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
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 |
$ 28 |
Fidelity Securities Lending Cash Central Fund |
226 |
Total |
$ 254 |
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 |
Value, |
Purchases |
Sales Proceeds |
Dividend |
Value, |
ArthroCare Corp. |
$ 62,405 |
$ 13,133 |
$ 43,973 |
$ - |
$ - |
Cyberonics, Inc. |
57,660 |
18,267 |
46,952 |
- |
- |
Heckmann Corp. |
37,911 |
8,693 |
34,438 |
- |
- |
Magma Design Automation, Inc. |
- |
17,405 |
- |
- |
22,836 |
NuVasive, Inc. |
48,979 |
5,217 |
42,705 |
- |
- |
Origin Agritech Ltd. |
14,841 |
5,135 |
- |
- |
7,294 |
Ultrapetrol (Bahamas) Ltd. |
20,412 |
- |
- |
- |
9,866 |
Total |
$ 242,208 |
$ 67,850 |
$ 168,068 |
$ - |
$ 39,996 |
Other Information |
The following is a summary of the inputs used, as of August 31, 2011, involving the Fund's assets and liabilities carried at fair 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 |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 283,951 |
$ 283,876 |
$ 75 |
$ - |
Consumer Staples |
161,352 |
161,352 |
- |
- |
Energy |
279,964 |
279,964 |
- |
- |
Financials |
28,114 |
28,114 |
- |
- |
Health Care |
281,699 |
281,699 |
- |
- |
Industrials |
214,858 |
214,858 |
- |
- |
Information Technology |
318,295 |
318,295 |
- |
- |
Materials |
247,798 |
247,798 |
- |
- |
Money Market Funds |
96,091 |
96,091 |
- |
- |
Total Investments in Securities: |
$ 1,912,122 |
$ 1,912,047 |
$ 75 |
$ - |
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 |
$ 9,854 |
Total Realized Gain (Loss) |
- |
Total Unrealized Gain (Loss) |
- |
Cost of Purchases |
- |
Proceeds of Sales |
(9,854) |
Amortization/Accretion |
- |
Transfers in to Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ - |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2011 |
$ - |
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 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At August 31, 2011, the cost of investment securities for income tax purposes was $2,003,861,000. Net unrealized depreciation aggregated $91,739,000, of which $156,046,000 related to appreciated investment securities and $247,785,000 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 market or security specific events. The frequency with which these procedures are used cannot be predicted and they 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 are generally 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's 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 see the fund's most recent prospectus and annual report. or an affiliate. |
Quarterly Report
Quarterly Holdings Report
for
Fidelity ® New Millennium Fund®
August 31, 2011
1.805750.107
NMF-QTLY-1011
Showing Percentage of Net Assets
Common Stocks - 93.3% |
|||
Shares |
Value (000s) |
||
CONSUMER DISCRETIONARY - 9.3% |
|||
Automobiles - 0.2% |
|||
Tesla Motors, Inc. (a) |
170,900 |
$ 4,228 |
|
Distributors - 0.3% |
|||
Pool Corp. |
172,300 |
4,468 |
|
Diversified Consumer Services - 0.1% |
|||
Stewart Enterprises, Inc. Class A |
375,000 |
2,273 |
|
Hotels, Restaurants & Leisure - 1.6% |
|||
Arcos Dorados Holdings, Inc. |
151,300 |
4,171 |
|
Bravo Brio Restaurant Group, Inc. |
288,000 |
5,976 |
|
Denny's Corp. (a) |
1,142,200 |
4,329 |
|
McCormick & Schmick's Seafood Restaurants (a) |
417,200 |
2,603 |
|
Starbucks Corp. |
255,600 |
9,871 |
|
Texas Roadhouse, Inc. Class A |
104,400 |
1,493 |
|
|
28,443 |
||
Household Durables - 1.1% |
|||
D.R. Horton, Inc. |
381,500 |
4,013 |
|
PulteGroup, Inc. (a) |
400,000 |
1,920 |
|
Toll Brothers, Inc. (a) |
172,400 |
2,964 |
|
Tupperware Brands Corp. |
154,600 |
10,281 |
|
|
19,178 |
||
Internet & Catalog Retail - 0.3% |
|||
Rakuten, Inc. |
4,778 |
5,398 |
|
Leisure Equipment & Products - 0.5% |
|||
Brunswick Corp. |
512,442 |
8,143 |
|
Media - 3.1% |
|||
Comcast Corp. Class A |
769,400 |
16,550 |
|
Discovery Communications, Inc. (a) |
125,000 |
5,285 |
|
Legend Pictures LLC (a)(f)(g) |
697 |
523 |
|
The Walt Disney Co. |
337,600 |
11,499 |
|
Time Warner, Inc. |
358,300 |
11,344 |
|
Viacom, Inc. Class B (non-vtg.) |
212,100 |
10,232 |
|
|
55,433 |
||
Multiline Retail - 0.2% |
|||
Nordstrom, Inc. |
95,600 |
4,346 |
|
Specialty Retail - 1.9% |
|||
Carphone Warehouse Group PLC |
500,000 |
2,882 |
|
Dick's Sporting Goods, Inc. (a) |
150,000 |
5,270 |
|
Lithia Motors, Inc. Class A (sub. vtg.) |
335,600 |
6,333 |
|
Lowe's Companies, Inc. |
507,800 |
10,120 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
CONSUMER DISCRETIONARY - continued |
|||
Specialty Retail - continued |
|||
MarineMax, Inc. (a) |
626,782 |
$ 4,256 |
|
Sally Beauty Holdings, Inc. (a) |
305,500 |
5,163 |
|
|
34,024 |
||
TOTAL CONSUMER DISCRETIONARY |
165,934 |
||
CONSUMER STAPLES - 12.6% |
|||
Beverages - 0.3% |
|||
Hansen Natural Corp. (a) |
50,000 |
4,266 |
|
Food & Staples Retailing - 0.5% |
|||
Drogasil SA |
328,100 |
2,576 |
|
Whole Foods Market, Inc. |
97,900 |
6,464 |
|
|
9,040 |
||
Food Products - 5.2% |
|||
Danone |
150,100 |
10,257 |
|
Green Mountain Coffee Roasters, Inc. (a) |
543,125 |
56,887 |
|
Kraft Foods, Inc. Class A |
400,000 |
14,008 |
|
Ralcorp Holdings, Inc. (a) |
63,000 |
5,454 |
|
Sara Lee Corp. |
361,500 |
6,521 |
|
|
93,127 |
||
Household Products - 3.5% |
|||
Church & Dwight Co., Inc. |
140,000 |
6,096 |
|
Colgate-Palmolive Co. |
197,300 |
17,751 |
|
Procter & Gamble Co. |
595,000 |
37,890 |
|
|
61,737 |
||
Personal Products - 0.5% |
|||
Nu Skin Enterprises, Inc. Class A |
143,300 |
6,060 |
|
Prestige Brands Holdings, Inc. (a) |
300,000 |
3,231 |
|
|
9,291 |
||
Tobacco - 2.6% |
|||
Altria Group, Inc. |
668,000 |
18,163 |
|
British American Tobacco PLC sponsored ADR |
106,500 |
9,543 |
|
Lorillard, Inc. |
147,100 |
16,390 |
|
Philip Morris CR A/S |
3,300 |
2,080 |
|
|
46,176 |
||
TOTAL CONSUMER STAPLES |
223,637 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
ENERGY - 12.2% |
|||
Oil, Gas & Consumable Fuels - 12.2% |
|||
Anadarko Petroleum Corp. |
190,900 |
$ 14,079 |
|
BG Group PLC |
238,883 |
5,167 |
|
Chesapeake Energy Corp. |
151,000 |
4,891 |
|
Chevron Corp. |
369,700 |
36,567 |
|
Concho Resources, Inc. (a) |
47,800 |
4,156 |
|
EV Energy Partners LP |
155,100 |
10,683 |
|
Exxon Mobil Corp. |
1,118,577 |
82,811 |
|
Imperial Oil Ltd. |
80,700 |
3,310 |
|
Niko Resources Ltd. |
50,300 |
2,863 |
|
Noble Energy, Inc. |
54,800 |
4,842 |
|
Occidental Petroleum Corp. |
288,100 |
24,990 |
|
Plains Exploration & Production Co. (a) |
100,000 |
2,941 |
|
Royal Dutch Shell PLC Class A sponsored ADR |
133,256 |
8,935 |
|
SouthGobi Energy Resources Ltd. (a) |
239,700 |
2,352 |
|
Southwestern Energy Co. (a) |
150,600 |
5,715 |
|
Suncor Energy, Inc. |
100,000 |
3,205 |
|
|
217,507 |
||
FINANCIALS - 13.0% |
|||
Capital Markets - 1.3% |
|||
Bank of New York Mellon Corp. |
301,700 |
6,236 |
|
E*TRADE Financial Corp. (a) |
229,325 |
2,834 |
|
KKR & Co. LP |
450,000 |
5,760 |
|
Morgan Stanley |
430,000 |
7,525 |
|
|
22,355 |
||
Commercial Banks - 4.6% |
|||
Alliance Financial Corp. (e) |
260,476 |
7,892 |
|
BB&T Corp. |
184,100 |
4,104 |
|
FirstMerit Corp. |
444,200 |
5,535 |
|
M&T Bank Corp. |
87,100 |
6,626 |
|
SunTrust Banks, Inc. |
191,100 |
3,803 |
|
Susquehanna Bancshares, Inc. |
559,400 |
3,754 |
|
U.S. Bancorp |
448,800 |
10,417 |
|
Webster Financial Corp. |
248,800 |
4,503 |
|
Wells Fargo & Co. |
1,354,700 |
35,358 |
|
|
81,992 |
||
Diversified Financial Services - 3.8% |
|||
New Academy Holding Co. LLC unit (a)(f)(g) |
66,000 |
6,626 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
FINANCIALS - continued |
|||
Diversified Financial Services - continued |
|||
JPMorgan Chase & Co. |
872,500 |
$ 32,771 |
|
KKR Financial Holdings LLC |
3,158,800 |
27,324 |
|
|
66,721 |
||
Insurance - 1.6% |
|||
Arch Capital Group Ltd. (a) |
153,600 |
5,173 |
|
Fairfax Financial Holdings Ltd. (sub. vtg.) |
12,800 |
5,162 |
|
Fidelity National Financial, Inc. Class A |
315,000 |
5,352 |
|
Lincoln National Corp. |
369,000 |
7,657 |
|
Unum Group |
230,000 |
5,414 |
|
|
28,758 |
||
Real Estate Investment Trusts - 0.6% |
|||
American Capital Agency Corp. |
223,600 |
6,375 |
|
Annaly Capital Management, Inc. |
256,300 |
4,647 |
|
|
11,022 |
||
Thrifts & Mortgage Finance - 1.1% |
|||
BankUnited, Inc. |
60,400 |
1,416 |
|
First Niagara Financial Group, Inc. |
366,100 |
3,939 |
|
MGIC Investment Corp. (a) |
1,423,000 |
3,700 |
|
Ocwen Financial Corp. (a) |
390,900 |
5,394 |
|
Radian Group, Inc. (d) |
1,769,923 |
5,894 |
|
|
20,343 |
||
TOTAL FINANCIALS |
231,191 |
||
HEALTH CARE - 13.3% |
|||
Biotechnology - 2.9% |
|||
Alexion Pharmaceuticals, Inc. (a) |
190,400 |
11,033 |
|
ARIAD Pharmaceuticals, Inc. (a) |
407,700 |
4,012 |
|
AVEO Pharmaceuticals, Inc. (a) |
143,800 |
2,442 |
|
BioMarin Pharmaceutical, Inc. (a) |
150,000 |
4,438 |
|
Dynavax Technologies Corp. (a) |
700,000 |
1,680 |
|
Inhibitex, Inc. (a) |
954,980 |
3,371 |
|
Isis Pharmaceuticals, Inc. (a) |
234,400 |
1,756 |
|
Keryx Biopharmaceuticals, Inc. (a)(d) |
900,000 |
3,663 |
|
Medivir AB (B Shares) (a) |
258,700 |
3,958 |
|
Neurocrine Biosciences, Inc. (a) |
668,900 |
4,107 |
|
SIGA Technologies, Inc. (a)(d) |
627,719 |
3,603 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
HEALTH CARE - continued |
|||
Biotechnology - continued |
|||
Theravance, Inc. (a) |
250,000 |
$ 4,750 |
|
ZIOPHARM Oncology, Inc. (a)(d) |
500,000 |
2,865 |
|
|
51,678 |
||
Health Care Equipment & Supplies - 2.4% |
|||
Covidien PLC |
176,800 |
9,225 |
|
HeartWare International, Inc. CDI (a) |
9,290,545 |
17,039 |
|
Mako Surgical Corp. (a)(d) |
250,626 |
8,997 |
|
Masimo Corp. |
162,000 |
3,997 |
|
Volcano Corp. (a) |
100,000 |
2,995 |
|
|
42,253 |
||
Health Care Providers & Services - 2.0% |
|||
Air Methods Corp. (a) |
60,000 |
3,993 |
|
Capital Senior Living Corp. (a) |
583,800 |
4,192 |
|
Centene Corp. (a) |
120,000 |
3,827 |
|
Emeritus Corp. (a) |
200,915 |
3,514 |
|
Express Scripts, Inc. (a) |
161,300 |
7,571 |
|
Henry Schein, Inc. (a) |
77,600 |
5,115 |
|
Medco Health Solutions, Inc. (a) |
143,600 |
7,775 |
|
|
35,987 |
||
Health Care Technology - 0.3% |
|||
SXC Health Solutions Corp. (a) |
95,900 |
5,227 |
|
Life Sciences Tools & Services - 0.9% |
|||
Agilent Technologies, Inc. (a) |
222,700 |
8,211 |
|
ICON PLC sponsored ADR (a) |
135,000 |
2,877 |
|
PerkinElmer, Inc. |
187,700 |
4,293 |
|
|
15,381 |
||
Pharmaceuticals - 4.8% |
|||
Cadence Pharmaceuticals, Inc. (a)(d) |
526,200 |
3,441 |
|
Eli Lilly & Co. |
436,400 |
16,369 |
|
GlaxoSmithKline PLC |
660,700 |
14,070 |
|
Hospira, Inc. (a) |
75,000 |
3,465 |
|
Novo Nordisk A/S Series B sponsored ADR |
61,200 |
6,528 |
|
Pfizer, Inc. |
1,783,800 |
33,857 |
|
Shire PLC sponsored ADR |
83,600 |
8,118 |
|
|
85,848 |
||
TOTAL HEALTH CARE |
236,374 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INDUSTRIALS - 6.5% |
|||
Aerospace & Defense - 1.2% |
|||
Precision Castparts Corp. |
54,800 |
$ 8,979 |
|
Raytheon Co. |
196,000 |
8,473 |
|
Textron, Inc. |
191,100 |
3,224 |
|
|
20,676 |
||
Air Freight & Logistics - 0.2% |
|||
Hub Group, Inc. Class A (a) |
129,016 |
4,063 |
|
Airlines - 0.4% |
|||
Copa Holdings SA Class A |
117,600 |
8,129 |
|
Building Products - 0.4% |
|||
Lennox International, Inc. |
81,500 |
2,544 |
|
Owens Corning (a) |
133,800 |
3,888 |
|
|
6,432 |
||
Commercial Services & Supplies - 0.7% |
|||
Clean Harbors, Inc. (a) |
164,600 |
8,867 |
|
The Geo Group, Inc. (a) |
191,100 |
4,103 |
|
|
12,970 |
||
Electrical Equipment - 0.6% |
|||
GrafTech International Ltd. (a) |
235,300 |
3,694 |
|
Polypore International, Inc. (a) |
104,800 |
6,463 |
|
|
10,157 |
||
Machinery - 0.5% |
|||
Blount International, Inc. (a) |
233,800 |
3,675 |
|
Pall Corp. |
100,000 |
5,113 |
|
|
8,788 |
||
Professional Services - 1.7% |
|||
Acacia Research Corp. - Acacia Technologies (a) |
379,008 |
16,563 |
|
IHS, Inc. Class A (a) |
35,000 |
2,716 |
|
Kforce, Inc. (a) |
188,700 |
1,959 |
|
Michael Page International PLC |
561,311 |
3,555 |
|
Qualicorp SA |
201,000 |
1,818 |
|
Robert Half International, Inc. |
140,600 |
3,363 |
|
|
29,974 |
||
Road & Rail - 0.6% |
|||
Kansas City Southern (a) |
129,500 |
7,014 |
|
Tegma Gestao Logistica |
250,000 |
3,486 |
|
|
10,500 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INDUSTRIALS - continued |
|||
Trading Companies & Distributors - 0.2% |
|||
Rush Enterprises, Inc. Class A (a) |
200,300 |
$ 3,686 |
|
TOTAL INDUSTRIALS |
115,375 |
||
INFORMATION TECHNOLOGY - 22.1% |
|||
Communications Equipment - 1.8% |
|||
Cisco Systems, Inc. |
1,442,500 |
22,618 |
|
Polycom, Inc. (a) |
200,000 |
4,760 |
|
RADWARE Ltd. (a) |
100,000 |
2,656 |
|
Riverbed Technology, Inc. (a) |
103,900 |
2,575 |
|
|
32,609 |
||
Computers & Peripherals - 5.5% |
|||
Apple, Inc. (a) |
191,800 |
73,810 |
|
Hewlett-Packard Co. |
634,700 |
16,521 |
|
NetApp, Inc. (a) |
202,800 |
7,629 |
|
|
97,960 |
||
Electronic Equipment & Components - 1.5% |
|||
Corning, Inc. |
674,200 |
10,133 |
|
Everlight Electronics Co. Ltd. |
881,263 |
1,646 |
|
Fabrinet (a) |
200,870 |
3,312 |
|
Measurement Specialties, Inc. (a) |
266,500 |
8,323 |
|
Universal Display Corp. (a)(d) |
86,100 |
4,225 |
|
|
27,639 |
||
Internet Software & Services - 2.0% |
|||
Blinkx PLC (a)(d) |
3,104,400 |
5,759 |
|
Google, Inc. Class A (a) |
29,600 |
16,012 |
|
Open Text Corp. (a) |
70,600 |
4,183 |
|
Rackspace Hosting, Inc. (a)(d) |
109,000 |
3,985 |
|
SciQuest, Inc. |
326,800 |
4,892 |
|
|
34,831 |
||
IT Services - 4.7% |
|||
Accenture PLC Class A |
167,000 |
8,950 |
|
Cardtronics, Inc. (a) |
126,800 |
3,140 |
|
Fidelity National Information Services, Inc. |
192,000 |
5,411 |
|
International Business Machines Corp. |
288,700 |
49,630 |
|
MasterCard, Inc. Class A |
49,000 |
16,156 |
|
|
83,287 |
||
Semiconductors & Semiconductor Equipment - 0.4% |
|||
Ceva, Inc. (a) |
125,000 |
3,325 |
|
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
INFORMATION TECHNOLOGY - continued |
|||
Semiconductors & Semiconductor Equipment - continued |
|||
Epistar Corp. |
726,317 |
$ 1,552 |
|
Siliconware Precision Industries Co. Ltd. sponsored ADR |
320,900 |
1,473 |
|
|
6,350 |
||
Software - 6.2% |
|||
Aspen Technology, Inc. (a) |
250,000 |
4,198 |
|
Autonomy Corp. PLC (a) |
639,241 |
26,157 |
|
CA, Inc. |
238,900 |
5,015 |
|
Callidus Software, Inc. (a)(d) |
701,300 |
3,394 |
|
Check Point Software Technologies Ltd. (a) |
86,200 |
4,693 |
|
Citrix Systems, Inc. (a) |
74,900 |
4,526 |
|
Concur Technologies, Inc. (a) |
109,200 |
4,567 |
|
Informatica Corp. (a) |
88,000 |
3,677 |
|
Kenexa Corp. (a) |
215,034 |
4,526 |
|
MICROS Systems, Inc. (a) |
76,500 |
3,646 |
|
Nice Systems Ltd. sponsored ADR (a) |
126,900 |
3,961 |
|
Nuance Communications, Inc. (a) |
704,100 |
13,068 |
|
Oracle Corp. |
487,700 |
13,690 |
|
Red Hat, Inc. (a) |
83,400 |
3,298 |
|
Solera Holdings, Inc. |
92,500 |
5,425 |
|
Taleo Corp. Class A (a) |
277,500 |
7,162 |
|
Trion World Network, Inc. warrants 8/10/17 (a)(g) |
28,652 |
0 |
|
|
111,003 |
||
TOTAL INFORMATION TECHNOLOGY |
393,679 |
||
MATERIALS - 0.5% |
|||
Metals & Mining - 0.5% |
|||
Gem Diamonds Ltd. (a) |
1,066,200 |
3,670 |
|
Ivanhoe Mines Ltd. (a) |
244,045 |
5,610 |
|
|
9,280 |
||
TELECOMMUNICATION SERVICES - 0.9% |
|||
Diversified Telecommunication Services - 0.3% |
|||
Iliad SA |
25,000 |
3,001 |
|
TalkTalk Telecom Group PLC |
1,000,000 |
2,080 |
|
|
5,081 |
||
Wireless Telecommunication Services - 0.6% |
|||
Vodafone Group PLC sponsored ADR |
392,700 |
10,344 |
|
TOTAL TELECOMMUNICATION SERVICES |
15,425 |
||
Common Stocks - continued |
|||
Shares |
Value (000s) |
||
UTILITIES - 2.9% |
|||
Electric Utilities - 1.7% |
|||
Duke Energy Corp. |
816,900 |
$ 15,448 |
|
Southern Co. |
344,200 |
14,236 |
|
|
29,684 |
||
Multi-Utilities - 1.2% |
|||
Alliant Energy Corp. |
124,200 |
5,039 |
|
TECO Energy, Inc. |
728,000 |
13,322 |
|
YTL Corp. Bhd |
6,305,640 |
2,763 |
|
|
21,124 |
||
TOTAL UTILITIES |
50,808 |
||
TOTAL COMMON STOCKS (Cost $1,389,869) |
|
||
Preferred Stocks - 1.0% |
|||
|
|
|
|
Convertible Preferred Stocks - 0.4% |
|||
INFORMATION TECHNOLOGY - 0.4% |
|||
Internet Software & Services - 0.2% |
|||
Ning, Inc. Series D 8.00% (a)(g) |
419,580 |
2,473 |
|
Software - 0.2% |
|||
Trion World Network, Inc.: |
|
|
|
Series C, 8.00% (a)(g) |
910,747 |
3,898 |
|
Series C-1, 8.00% (a)(g) |
71,630 |
307 |
|
|
4,205 |
||
TOTAL INFORMATION TECHNOLOGY |
6,678 |
||
Nonconvertible Preferred Stocks - 0.6% |
|||
CONSUMER DISCRETIONARY - 0.6% |
|||
Automobiles - 0.6% |
|||
Porsche Automobil Holding SE (Germany) |
116,725 |
7,904 |
|
Volkswagen AG |
22,300 |
3,715 |
|
|
11,619 |
||
TOTAL PREFERRED STOCKS (Cost $18,785) |
|
||
Money Market Funds - 6.5% |
|||
Shares |
Value (000s) |
||
Fidelity Cash Central Fund, 0.11% (b) |
94,735,542 |
$ 94,736 |
|
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c) |
21,623,426 |
21,623 |
|
TOTAL MONEY MARKET FUNDS (Cost $116,359) |
|
||
TOTAL INVESTMENT PORTFOLIO - 100.8% (Cost $1,525,013) |
1,793,866 |
||
NET OTHER ASSETS (LIABILITIES) - (0.8)% |
(14,487) |
||
NET ASSETS - 100% |
$ 1,779,379 |
Legend |
(a) Non-income producing |
(b) 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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(c) Investment made with cash collateral received from securities on loan. |
(d) Security or a portion of the security is on loan at period end. |
(e) Affiliated company |
(f) Investment is owned by an entity that is treated as a corporation for U.S. tax purposes which is owned by the Fund. |
(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 $13,827,000 or 0.8% of net assets. |
Additional information on each restricted holding is as follows: |
Security |
Acquisition Date |
Acquisition Cost (000s) |
New Academy Holding Co. LLC unit |
8/1/11 |
$ 6,956 |
Ning, Inc. Series D 8.00% |
3/19/08 |
$ 3,000 |
Trion World Network, Inc. warrants 8/10/17 |
8/10/10 |
$ 0 |
Trion World Network, Inc.: Series C, 8.00% |
8/22/08 |
$ 5,001 |
Series C-1, 8.00% |
8/10/10 |
$ 393 |
Legend Pictures LLC |
9/23/10 |
$ 523 |
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 |
$ 33 |
Fidelity Securities Lending Cash Central Fund |
620 |
Total |
$ 653 |
Other Affiliated Issuers |
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows: |
Affiliate |
Value, beginning of period |
Purchases |
Sales Proceeds |
Dividend Income |
Value, |
Alliance Financial Corp. |
$ 3,307 |
$ 4,683 |
$ - |
$ 175 |
$ 7,892 |
Total |
$ 3,307 |
$ 4,683 |
$ - |
$ 175 |
$ 7,892 |
Other Information |
The following is a summary of the inputs used, as of August 31, 2011, involving the Fund's assets and liabilities carried at fair 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 |
Total |
Level 1 |
Level 2 |
Level 3 |
Investments in Securities: |
||||
Equities: |
||||
Consumer Discretionary |
$ 177,553 |
$ 171,632 |
$ 5,398 |
$ 523 |
Consumer Staples |
223,637 |
223,637 |
- |
- |
Energy |
217,507 |
217,507 |
- |
- |
Financials |
231,191 |
224,565 |
- |
6,626 |
Health Care |
236,374 |
222,304 |
14,070 |
- |
Industrials |
115,375 |
115,375 |
- |
- |
Information Technology |
400,357 |
393,679 |
- |
6,678 |
Materials |
9,280 |
9,280 |
- |
- |
Telecommunication Services |
15,425 |
15,425 |
- |
- |
Utilities |
50,808 |
48,045 |
2,763 |
- |
Money Market Funds |
116,359 |
116,359 |
- |
- |
Total Investments in Securities: |
$ 1,793,866 |
$ 1,757,808 |
$ 22,231 |
$ 13,827 |
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 |
$ 7,201 |
Total Realized Gain (Loss) |
- |
Total Unrealized Gain (Loss) |
(330) |
Cost of Purchases |
6,956 |
Proceeds of Sales |
- |
Amortization/Accretion |
- |
Transfers in to Level 3 |
- |
Transfers out of Level 3 |
- |
Ending Balance |
$ 13,827 |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at August 31, 2011 |
$ (330) |
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 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. |
Income Tax Information |
At August 31, 2011, the cost of investment securities for income tax purposes was $1,534,233,000. Net unrealized appreciation aggregated $259,633,000, of which $357,370,000 related to appreciated investment securities and $97,737,000 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 market or security specific events. The frequency with which these procedures are used cannot be predicted and they 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 are generally 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. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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. |
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy. |
For additional information on the Fund's 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 see the fund's most recent prospectus and annual 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: |
October 31, 2011 |
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: |
October 31, 2011 |
By: |
/s/Christine Reynolds |
|
Christine Reynolds |
|
Chief Financial Officer |
|
|
Date: |
October 31, 2011 |
1 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: October 31, 2011
/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;
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: October 31, 2011
/s/Christine Reynolds |
Christine Reynolds |
Chief Financial Officer |