Quarterly Holdings Report
for
Fidelity® New Millennium Fund®
February 29, 2020
Schedule of Investments February 29, 2020 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 96.6% | |||
Shares | Value (000s) | ||
COMMUNICATION SERVICES - 6.1% | |||
Diversified Telecommunication Services - 1.8% | |||
Cogent Communications Group, Inc. | 143,100 | $10,448 | |
Verizon Communications, Inc. | 680,200 | 36,840 | |
47,288 | |||
Entertainment - 0.4% | |||
WME Entertainment Parent, LLC Class A (a)(b)(c)(d) | 3,848,154 | 10,582 | |
Media - 2.5% | |||
Comcast Corp. Class A | 1,479,600 | 59,820 | |
Sinclair Broadcast Group, Inc. Class A | 220,000 | 5,106 | |
64,926 | |||
Wireless Telecommunication Services - 1.4% | |||
Sprint Corp. (a) | 3,898,700 | 35,829 | |
TOTAL COMMUNICATION SERVICES | 158,625 | ||
CONSUMER DISCRETIONARY - 11.3% | |||
Automobiles - 1.3% | |||
Aston Martin Lagonda Global Holdings PLC (a)(e)(f) | 1,233,500 | 5,411 | |
Fiat Chrysler Automobiles NV | 1,312,400 | 16,326 | |
General Motors Co. | 443,200 | 13,518 | |
35,255 | |||
Hotels, Restaurants & Leisure - 0.4% | |||
ARAMARK Holdings Corp. | 226,800 | 7,879 | |
Drive Shack, Inc. (a)(e) | 541,727 | 1,549 | |
9,428 | |||
Household Durables - 1.7% | |||
D.R. Horton, Inc. | 343,800 | 18,314 | |
Mohawk Industries, Inc. (a) | 82,300 | 9,971 | |
NVR, Inc. (a) | 4,340 | 15,916 | |
44,201 | |||
Internet & Direct Marketing Retail - 0.6% | |||
The Booking Holdings, Inc. (a) | 9,000 | 15,261 | |
Leisure Products - 1.8% | |||
American Outdoor Brands Corp. (a) | 1,007,100 | 10,031 | |
New Academy Holding Co. LLC unit (a)(c)(d)(g) | 66,000 | 2,893 | |
Peloton Interactive, Inc.: | |||
Class A (a)(e) | 73,700 | 1,967 | |
Class B | 1,222,216 | 32,621 | |
47,512 | |||
Multiline Retail - 1.0% | |||
Dollar General Corp. | 132,400 | 19,900 | |
Dollar Tree, Inc. (a) | 87,700 | 7,282 | |
27,182 | |||
Specialty Retail - 2.5% | |||
AutoZone, Inc. (a) | 11,200 | 11,564 | |
Best Buy Co., Inc. | 131,200 | 9,925 | |
National Vision Holdings, Inc. (a) | 453,000 | 15,773 | |
TJX Companies, Inc. | 454,000 | 27,149 | |
64,411 | |||
Textiles, Apparel & Luxury Goods - 2.0% | |||
Allbirds, Inc. (a)(c)(d) | 22,235 | 253 | |
Brunello Cucinelli SpA | 822,600 | 27,523 | |
PVH Corp. | 120,000 | 8,893 | |
Tapestry, Inc. | 374,300 | 8,777 | |
Under Armour, Inc. Class A (sub. vtg.) (a)(e) | 408,400 | 5,795 | |
51,241 | |||
TOTAL CONSUMER DISCRETIONARY | 294,491 | ||
CONSUMER STAPLES - 6.8% | |||
Beverages - 0.3% | |||
Diageo PLC sponsored ADR | 51,900 | 7,365 | |
Food & Staples Retailing - 3.2% | |||
Kroger Co. | 529,800 | 14,903 | |
Performance Food Group Co. (a) | 291,300 | 12,351 | |
U.S. Foods Holding Corp. (a) | 318,800 | 10,724 | |
Walmart, Inc. | 414,200 | 44,601 | |
82,579 | |||
Food Products - 1.0% | |||
Danone SA | 165,400 | 11,674 | |
Greencore Group PLC | 5,431,161 | 14,782 | |
26,456 | |||
Household Products - 1.2% | |||
Kimberly-Clark Corp. | 74,600 | 9,787 | |
Procter & Gamble Co. | 187,700 | 21,253 | |
31,040 | |||
Personal Products - 1.1% | |||
Edgewell Personal Care Co. (a) | 350,400 | 10,638 | |
Unilever NV | 344,900 | 18,210 | |
28,848 | |||
TOTAL CONSUMER STAPLES | 176,288 | ||
ENERGY - 8.5% | |||
Energy Equipment & Services - 0.9% | |||
Borr Drilling Ltd. (a)(e) | 816,640 | 1,750 | |
Oceaneering International, Inc. (a) | 523,752 | 5,520 | |
Odfjell Drilling Ltd. (a) | 3,992,224 | 10,678 | |
Pacific Drilling SA (a) | 394,783 | 616 | |
TechnipFMC PLC | 302,000 | 4,482 | |
23,046 | |||
Oil, Gas & Consumable Fuels - 7.6% | |||
BP PLC sponsored ADR | 645,873 | 20,209 | |
Cabot Oil & Gas Corp. | 564,500 | 7,863 | |
Cheniere Energy, Inc. (a) | 203,100 | 10,417 | |
Energy Transfer Equity LP | 725,500 | 8,039 | |
Exxon Mobil Corp. | 1,092,600 | 56,203 | |
GasLog Ltd. | 438,641 | 2,461 | |
Golar LNG Ltd. | 791,400 | 10,142 | |
Hess Corp. | 661,700 | 37,174 | |
Kosmos Energy Ltd. | 2,698,800 | 8,231 | |
New Fortress Energy LLC | 495,000 | 6,955 | |
The Williams Companies, Inc. | 957,797 | 18,246 | |
Valero Energy Corp. | 186,400 | 12,349 | |
198,289 | |||
TOTAL ENERGY | 221,335 | ||
FINANCIALS - 19.8% | |||
Banks - 7.0% | |||
Bank of America Corp. | 2,497,700 | 71,184 | |
HDFC Bank Ltd. sponsored ADR | 260,300 | 14,277 | |
OTP Bank PLC | 150,100 | 6,512 | |
PNC Financial Services Group, Inc. | 233,500 | 29,514 | |
Truist Financial Corp. | 328,836 | 15,172 | |
Wells Fargo & Co. | 828,300 | 33,836 | |
Wintrust Financial Corp. | 218,500 | 11,670 | |
182,165 | |||
Capital Markets - 3.3% | |||
Goldman Sachs Group, Inc. | 91,500 | 18,370 | |
Morgan Stanley | 346,800 | 15,616 | |
Northern Trust Corp. | 135,800 | 11,918 | |
The NASDAQ OMX Group, Inc. | 174,800 | 17,926 | |
TPG Specialty Lending, Inc. | 986,985 | 20,667 | |
84,497 | |||
Consumer Finance - 0.3% | |||
Shriram Transport Finance Co. Ltd. | 465,600 | 7,679 | |
Diversified Financial Services - 2.3% | |||
Berkshire Hathaway, Inc. Class B (a) | 291,500 | 60,148 | |
Insurance - 5.2% | |||
American International Group, Inc. | 1,084,000 | 45,701 | |
Arch Capital Group Ltd. (a) | 672,500 | 27,189 | |
Chubb Ltd. | 219,209 | 31,792 | |
First American Financial Corp. | 130,200 | 7,434 | |
Hiscox Ltd. | 433,007 | 6,892 | |
MetLife, Inc. | 396,700 | 16,947 | |
135,955 | |||
Thrifts & Mortgage Finance - 1.7% | |||
Housing Development Finance Corp. Ltd. | 361,368 | 10,839 | |
Radian Group, Inc. | 1,590,423 | 33,781 | |
44,620 | |||
TOTAL FINANCIALS | 515,064 | ||
HEALTH CARE - 11.9% | |||
Biotechnology - 0.8% | |||
Amgen, Inc. | 104,500 | 20,872 | |
Health Care Equipment & Supplies - 2.6% | |||
Becton, Dickinson & Co. | 100,200 | 23,830 | |
Boston Scientific Corp. (a) | 664,600 | 24,849 | |
Danaher Corp. | 122,900 | 17,769 | |
66,448 | |||
Health Care Providers & Services - 4.3% | |||
Centene Corp. (a) | 412,500 | 21,871 | |
Cigna Corp. | 115,800 | 21,184 | |
UnitedHealth Group, Inc. | 237,300 | 60,502 | |
Universal Health Services, Inc. Class B | 71,900 | 8,897 | |
112,454 | |||
Life Sciences Tools & Services - 0.6% | |||
Bruker Corp. | 359,022 | 15,639 | |
Pharmaceuticals - 3.6% | |||
Bristol-Myers Squibb Co. | 435,800 | 25,738 | |
Eli Lilly & Co. | 194,400 | 24,520 | |
Prestige Brands Holdings, Inc. (a) | 252,500 | 9,433 | |
Roche Holding AG (participation certificate) | 64,660 | 20,790 | |
Sanofi SA | 149,700 | 13,962 | |
94,443 | |||
TOTAL HEALTH CARE | 309,856 | ||
INDUSTRIALS - 15.7% | |||
Aerospace & Defense - 4.6% | |||
General Dynamics Corp. | 192,400 | 30,724 | |
Huntington Ingalls Industries, Inc. | 132,500 | 27,233 | |
Kratos Defense & Security Solutions, Inc. (a) | 824,800 | 13,411 | |
Northrop Grumman Corp. | 108,900 | 35,811 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(c)(d) | 58,589 | 12,890 | |
Class C (a)(c)(d) | 818 | 180 | |
120,249 | |||
Air Freight & Logistics - 0.3% | |||
XPO Logistics, Inc. (a) | 114,600 | 8,477 | |
Commercial Services & Supplies - 1.1% | |||
IAA Spinco, Inc. (a) | 209,500 | 8,950 | |
KAR Auction Services, Inc. | 225,000 | 4,331 | |
Stericycle, Inc. (a) | 168,500 | 9,677 | |
U.S. Ecology, Inc. | 142,656 | 6,000 | |
28,958 | |||
Construction & Engineering - 0.7% | |||
AECOM (a) | 210,100 | 9,442 | |
Argan, Inc. | 181,300 | 7,566 | |
17,008 | |||
Electrical Equipment - 0.5% | |||
Melrose Industries PLC | 4,970,528 | 13,747 | |
Industrial Conglomerates - 5.8% | |||
General Electric Co. | 13,881,700 | 151,041 | |
Machinery - 1.0% | |||
Donaldson Co., Inc. | 242,200 | 10,918 | |
Gardner Denver Holdings, Inc. | 244,400 | 8,014 | |
Pentair PLC | 148,600 | 5,853 | |
24,785 | |||
Marine - 0.5% | |||
Goodbulk Ltd. (a)(d) | 959,290 | 12,814 | |
Road & Rail - 1.2% | |||
Knight-Swift Transportation Holdings, Inc. Class A | 400,286 | 12,785 | |
Lyft, Inc. | 275,744 | 10,511 | |
Uber Technologies, Inc. | 245,000 | 8,298 | |
31,594 | |||
TOTAL INDUSTRIALS | 408,673 | ||
INFORMATION TECHNOLOGY - 7.5% | |||
Communications Equipment - 1.6% | |||
Cisco Systems, Inc. | 767,100 | 30,630 | |
Ericsson (B Shares) | 1,423,500 | 11,418 | |
42,048 | |||
Electronic Equipment & Components - 1.4% | |||
Amphenol Corp. Class A | 239,982 | 22,002 | |
Keysight Technologies, Inc. (a) | 134,600 | 12,755 | |
34,757 | |||
IT Services - 3.0% | |||
Akamai Technologies, Inc. (a) | 210,000 | 18,167 | |
Black Knight, Inc. (a) | 283,949 | 18,942 | |
Euronet Worldwide, Inc. (a) | 61,000 | 7,566 | |
Fidelity National Information Services, Inc. | 157,300 | 21,978 | |
Fiserv, Inc. (a) | 1 | 0 | |
Leidos Holdings, Inc. | 107,400 | 11,025 | |
77,678 | |||
Semiconductors & Semiconductor Equipment - 1.5% | |||
Analog Devices, Inc. | 105,000 | 11,450 | |
NVIDIA Corp. | 102,700 | 27,736 | |
39,186 | |||
TOTAL INFORMATION TECHNOLOGY | 193,669 | ||
MATERIALS - 2.8% | |||
Chemicals - 0.9% | |||
LG Chemical Ltd. | 31,670 | 9,705 | |
Nutrien Ltd. | 176,520 | 7,134 | |
Olin Corp. | 328,500 | 5,318 | |
22,157 | |||
Containers & Packaging - 0.3% | |||
Avery Dennison Corp. | 63,300 | 7,247 | |
Metals & Mining - 1.6% | |||
Franco-Nevada Corp. | 133,400 | 14,321 | |
Newcrest Mining Ltd. | 456,907 | 7,828 | |
Novagold Resources, Inc. (a) | 2,528,580 | 20,063 | |
42,212 | |||
TOTAL MATERIALS | 71,616 | ||
REAL ESTATE - 3.0% | |||
Equity Real Estate Investment Trusts (REITs) - 3.0% | |||
Cousins Properties, Inc. | 193,288 | 6,898 | |
Gaming & Leisure Properties | 178,100 | 7,956 | |
Healthcare Trust of America, Inc. | 244,500 | 7,614 | |
Simon Property Group, Inc. | 85,200 | 10,486 | |
Spirit Realty Capital, Inc. | 325,160 | 14,795 | |
VEREIT, Inc. | 786,500 | 6,811 | |
VICI Properties, Inc. | 967,000 | 24,233 | |
78,793 | |||
UTILITIES - 3.2% | |||
Electric Utilities - 3.2% | |||
Alliant Energy Corp. | 308,100 | 16,058 | |
Duke Energy Corp. | 406,500 | 37,276 | |
IDACORP, Inc. | 70,800 | 6,842 | |
Southern Co. | 372,200 | 22,466 | |
82,642 | |||
TOTAL COMMON STOCKS | |||
(Cost $2,234,366) | 2,511,052 | ||
Preferred Stocks - 0.8% | |||
Convertible Preferred Stocks - 0.7% | |||
CONSUMER DISCRETIONARY - 0.3% | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Allbirds, Inc.: | |||
Series A (a)(c)(d) | 8,775 | 100 | |
Series B (a)(c)(d) | 1,540 | 18 | |
Series C (a)(c)(d) | 14,735 | 168 | |
Series D (c)(d) | 28,273 | 321 | |
Series Seed (a)(c)(d) | 41,664 | 474 | |
Bolt Threads, Inc. Series D(a)(c)(d) | 390,327 | 5,605 | |
6,686 | |||
CONSUMER STAPLES - 0.0% | |||
Food & Staples Retailing - 0.0% | |||
Sweetgreen, Inc.: | |||
Series C (c)(d) | 1,587 | 23 | |
Series D (c)(d) | 25,534 | 377 | |
Series I (c)(d) | 60,179 | 888 | |
1,288 | |||
HEALTH CARE - 0.3% | |||
Health Care Equipment & Supplies - 0.3% | |||
Butterfly Network, Inc. Series D (a)(c)(d) | 658,083 | 7,884 | |
INDUSTRIALS - 0.1% | |||
Aerospace & Defense - 0.1% | |||
Space Exploration Technologies Corp. Series H (a)(c)(d) | 7,570 | 1,665 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 17,523 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
HEALTH CARE - 0.1% | |||
Health Care Providers & Services - 0.1% | |||
Oak Street Health LLC Series III-E (b)(c)(d) | 18,409 | 2,877 | |
TOTAL PREFERRED STOCKS | |||
(Cost $19,467) | 20,400 | ||
Principal Amount (000s) | Value (000s) | ||
Corporate Bonds - 0.1% | |||
Convertible Bonds - 0.1% | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Bolt Threads, Inc. 3% 2/7/23 (c)(d) | 2,915 | 2,915 | |
Nonconvertible Bonds - 0.0% | |||
ENERGY - 0.0% | |||
Energy Equipment & Services - 0.0% | |||
Pacific Drilling SA 12% 4/1/24 pay-in-kind (f)(h) | 202 | 52 | |
TOTAL CORPORATE BONDS | |||
(Cost $3,120) | 2,967 | ||
Shares | Value (000s) | ||
Other - 0.1% | |||
Other - 0.1% | |||
Utica Shale Drilling Program (non-operating revenue interest) (b)(c)(d) | 6,453,247 | 362 | |
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 (b)(c)(d) | 5,578,431 | 3,626 | |
TOTAL OTHER | |||
(Cost $8,378) | 3,988 | ||
Money Market Funds - 3.1% | |||
Fidelity Cash Central Fund 1.60% (i) | 64,884,018 | 64,897 | |
Fidelity Securities Lending Cash Central Fund 1.60% (i)(j) | 14,668,380 | 14,670 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $79,566) | 79,567 | ||
TOTAL INVESTMENT IN SECURITIES - 100.7% | |||
(Cost $2,344,897) | 2,617,974 | ||
NET OTHER ASSETS (LIABILITIES) - (0.7)% | (18,810) | ||
NET ASSETS - 100% | $2,599,164 |
Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) Non-income producing
(b) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
(c) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $54,101,000 or 2.1% of net assets.
(d) Level 3 security
(e) Security or a portion of the security is on loan at period end.
(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 $5,463,000 or 0.2% of net assets.
(g) Investment is owned by an entity that is treated as a U.S. Corporation for tax purposes in which the Fund holds a percentage ownership.
(h) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
(i) 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.
(j) Investment made with cash collateral received from securities on loan.
Additional information on each restricted holding is as follows:
Security | Acquisition Date | Acquisition Cost (000s) |
Allbirds, Inc. | 10/9/18 | $244 |
Allbirds, Inc. Series A | 10/9/18 | $96 |
Allbirds, Inc. Series B | 10/9/18 | $17 |
Allbirds, Inc. Series C | 10/9/18 | $162 |
Allbirds, Inc. Series D | 12/23/19 | $364 |
Allbirds, Inc. Series Seed | 10/9/18 - 1/23/20 | $416 |
Bolt Threads, Inc. Series D | 12/13/17 | $6,261 |
Bolt Threads, Inc. 3% 2/7/23 | 2/7/20 | $2,915 |
Butterfly Network, Inc. Series D | 5/4/18 | $6,759 |
New Academy Holding Co. LLC unit | 8/1/11 | $6,956 |
Oak Street Health LLC Series III-E | 2/21/20 | $2,877 |
Space Exploration Technologies Corp. Class A | 4/8/16 - 9/11/17 | $5,981 |
Space Exploration Technologies Corp. Class C | 9/11/17 | $110 |
Space Exploration Technologies Corp. Series H | 8/4/17 | $1,022 |
Sweetgreen, Inc. Series C | 9/13/19 | $27 |
Sweetgreen, Inc. Series D | 9/13/19 | $437 |
Sweetgreen, Inc. Series I | 9/13/19 | $1,029 |
Utica Shale Drilling Program (non-operating revenue interest) | 10/5/16 - 9/1/17 | $2,799 |
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 | 10/5/16 - 4/5/18 | $5,577 |
WME Entertainment Parent, LLC Class A | 8/16/16 | $7,349 |
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
(Amounts in thousands) | |
Fidelity Cash Central Fund | $130 |
Fidelity Securities Lending Cash Central Fund | 252 |
Total | $382 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds 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.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Corporate bonds are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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