NPORT-EX 2 QTLY_2932_20200229.htm

Quarterly Holdings Report
for

Fidelity Flex® Funds

Fidelity Flex® Mid Cap Growth Fund

February 29, 2020







ZDG-QTLY-0420
1.9881577.102





Schedule of Investments February 29, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%   
 Shares Value 
COMMUNICATION SERVICES - 2.6%   
Entertainment - 2.6%   
Electronic Arts, Inc. (a) 35 $3,548 
Live Nation Entertainment, Inc. (a) 110 6,685 
Take-Two Interactive Software, Inc. (a) 74 7,954 
  18,187 
CONSUMER DISCRETIONARY - 14.9%   
Distributors - 0.8%   
Pool Corp. 29 6,118 
Diversified Consumer Services - 1.2%   
Service Corp. International 173 8,268 
Hotels, Restaurants & Leisure - 0.8%   
Domino's Pizza, Inc. 13 4,413 
Planet Fitness, Inc. (a) 25 1,687 
  6,100 
Household Durables - 2.5%   
Lennar Corp. Class A 114 6,879 
NVR, Inc. (a) 7,334 
PulteGroup, Inc. 94 3,779 
  17,992 
Internet & Direct Marketing Retail - 1.6%   
eBay, Inc. 127 4,399 
Expedia, Inc. 68 6,706 
  11,105 
Multiline Retail - 3.1%   
Dollar General Corp. 106 15,932 
Dollar Tree, Inc. (a) 72 5,978 
  21,910 
Specialty Retail - 4.4%   
AutoZone, Inc. (a) 11 11,358 
Best Buy Co., Inc. 40 3,026 
Ross Stores, Inc. 57 6,200 
Ulta Beauty, Inc. (a) 26 6,684 
Urban Outfitters, Inc. (a) 172 4,044 
  31,312 
Textiles, Apparel & Luxury Goods - 0.5%   
Carter's, Inc. 40 3,659 
TOTAL CONSUMER DISCRETIONARY  106,464 
CONSUMER STAPLES - 3.3%   
Beverages - 0.8%   
Brown-Forman Corp. Class B (non-vtg.) 88 5,404 
Food & Staples Retailing - 0.1%   
Grocery Outlet Holding Corp. 16 506 
Food Products - 1.0%   
The Hershey Co. 52 7,487 
Household Products - 0.4%   
Reynolds Consumer Products, Inc. (a) 100 2,885 
Personal Products - 1.0%   
BellRing Brands, Inc. Class A (a) 300 5,895 
Estee Lauder Companies, Inc. Class A 1,285 
  7,180 
TOTAL CONSUMER STAPLES  23,462 
FINANCIALS - 6.9%   
Capital Markets - 4.3%   
LPL Financial 27 2,146 
MarketAxess Holdings, Inc. 21 6,811 
Moody's Corp. 20 4,801 
MSCI, Inc. 47 13,886 
S&P Global, Inc. 11 2,925 
Tradeweb Markets, Inc. Class A 145 
  30,714 
Insurance - 2.6%   
Arch Capital Group Ltd. (a) 145 5,862 
Arthur J. Gallagher & Co. 10 975 
Brown & Brown, Inc. 16 688 
Primerica, Inc. 60 6,680 
Progressive Corp. 31 2,268 
RenaissanceRe Holdings Ltd. 13 2,215 
  18,688 
TOTAL FINANCIALS  49,402 
HEALTH CARE - 12.5%   
Health Care Equipment & Supplies - 6.4%   
DexCom, Inc. (a) 47 12,972 
Edwards Lifesciences Corp. (a) 14 2,868 
Intuitive Surgical, Inc. (a) 2,136 
Masimo Corp. (a) 37 6,043 
ResMed, Inc. 114 18,121 
Teleflex, Inc. 2,010 
The Cooper Companies, Inc. 1,298 
  45,448 
Health Care Providers & Services - 2.1%   
Centene Corp. (a) 282 14,952 
Health Care Technology - 0.9%   
Veeva Systems, Inc. Class A (a) 45 6,389 
Life Sciences Tools & Services - 3.1%   
Bruker Corp. 68 2,962 
Charles River Laboratories International, Inc. (a) 56 8,712 
Mettler-Toledo International, Inc. (a) 15 10,526 
  22,200 
TOTAL HEALTH CARE  88,989 
INDUSTRIALS - 14.0%   
Aerospace & Defense - 4.0%   
Harris Corp. 45 8,898 
HEICO Corp. Class A 10 883 
Huntington Ingalls Industries, Inc. 25 5,138 
TransDigm Group, Inc. 24 13,387 
  28,306 
Air Freight & Logistics - 0.8%   
C.H. Robinson Worldwide, Inc. 85 5,857 
Commercial Services & Supplies - 2.9%   
Cintas Corp. 45 12,003 
Copart, Inc. (a) 100 8,448 
  20,451 
Electrical Equipment - 1.1%   
AMETEK, Inc. 93 7,998 
Industrial Conglomerates - 0.5%   
Roper Technologies, Inc. 10 3,517 
Machinery - 2.8%   
Dover Corp. 55 5,651 
IDEX Corp. 35 5,180 
ITT, Inc. 62 3,729 
Toro Co. 75 5,357 
  19,917 
Professional Services - 1.9%   
CoStar Group, Inc. (a) 10 6,676 
Verisk Analytics, Inc. 44 6,825 
  13,501 
TOTAL INDUSTRIALS  99,547 
INFORMATION TECHNOLOGY - 40.1%   
Communications Equipment - 0.9%   
Motorola Solutions, Inc. 40 6,627 
Electronic Equipment & Components - 5.6%   
Amphenol Corp. Class A 105 9,626 
CDW Corp. 84 9,594 
Jabil, Inc. 103 3,301 
Keysight Technologies, Inc. (a) 108 10,234 
Zebra Technologies Corp. Class A (a) 33 6,962 
  39,717 
IT Services - 16.0%   
Adyen BV (a)(b) 880 
Black Knight, Inc. (a) 58 3,869 
Booz Allen Hamilton Holding Corp. Class A 109 7,772 
Broadridge Financial Solutions, Inc. 28 2,922 
CACI International, Inc. Class A (a) 18 4,410 
EPAM Systems, Inc. (a) 36 8,035 
Fidelity National Information Services, Inc. 39 5,449 
Fiserv, Inc. (a) 184 20,122 
FleetCor Technologies, Inc. (a) 27 7,176 
Global Payments, Inc. 186 34,221 
VeriSign, Inc. (a) 103 19,544 
  114,400 
Semiconductors & Semiconductor Equipment - 8.3%   
Analog Devices, Inc. 29 3,162 
Broadcom, Inc. 1,636 
KLA-Tencor Corp. 84 12,912 
Lam Research Corp. 61 17,899 
Mellanox Technologies Ltd. (a) 35 4,180 
NXP Semiconductors NV 28 3,183 
ON Semiconductor Corp. (a) 157 2,930 
Skyworks Solutions, Inc. 35 3,506 
Xilinx, Inc. 114 9,518 
  58,926 
Software - 9.3%   
Adobe, Inc. (a) 2,761 
Atlassian Corp. PLC (a) 49 7,103 
Cadence Design Systems, Inc. (a) 110 7,275 
Check Point Software Technologies Ltd. (a) 17 1,765 
Fortinet, Inc. (a) 105 10,716 
Intuit, Inc. 2,127 
Manhattan Associates, Inc. (a) 31 2,088 
Paycom Software, Inc. (a) 23 6,501 
RingCentral, Inc. (a) 44 10,373 
Slack Technologies, Inc. Class A (a) 121 3,269 
Synopsys, Inc. (a) 48 6,621 
The Trade Desk, Inc. (a) 19 5,458 
  66,057 
TOTAL INFORMATION TECHNOLOGY  285,727 
MATERIALS - 0.3%   
Chemicals - 0.3%   
Sherwin-Williams Co. 2,067 
REAL ESTATE - 4.0%   
Equity Real Estate Investment Trusts (REITs) - 4.0%   
Equity Lifestyle Properties, Inc. 151 10,318 
Public Storage 1,046 
SBA Communications Corp. Class A 52 13,785 
Sun Communities, Inc. 22 3,363 
  28,512 
TOTAL COMMON STOCKS   
(Cost $520,729)  702,357 
Money Market Funds - 0.6%   
Fidelity Cash Central Fund 1.60% (c)   
(Cost $4,482) 4,481 4,482 
TOTAL INVESTMENT IN SECURITIES - 99.2%   
(Cost $525,211)  706,839 
NET OTHER ASSETS (LIABILITIES) - 0.8%  5,581 
NET ASSETS - 100%  $712,420 

Legend

 (a) Non-income producing

 (b) 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 $880 or 0.1% of net assets.

 (c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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 $24 
Total $24 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

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

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

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





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

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.