NPORT-EX 2 QTLY_25_20210228.htm

Quarterly Holdings Report
for

Fidelity® Growth Company Fund

February 28, 2021







GCF-QTLY-0421
1.797941.117





Schedule of Investments February 28, 2021 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.3%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 12.1%   
Entertainment - 3.8%   
Activision Blizzard, Inc. 2,116,043 $202,315 
Electronic Arts, Inc. 391,401 52,436 
NetEase, Inc. ADR 438,905 48,214 
Netflix, Inc. (a) 712,404 383,879 
Nintendo Co. Ltd. 32,911 20,127 
Roku, Inc. Class A (a) 2,817,145 1,114,125 
Sea Ltd. ADR (a) 1,723,225 406,147 
Skillz, Inc. (b) 478,862 15,137 
The Walt Disney Co. (a) 587,310 111,025 
Zynga, Inc. (a) 1,122,763 12,519 
  2,365,924 
Interactive Media & Services - 7.8%   
Alphabet, Inc.:   
Class A (a) 1,095,261 2,214,519 
Class C (a) 623,784 1,270,561 
Bumble, Inc. 299,471 20,157 
Facebook, Inc. Class A (a) 3,627,696 934,567 
IAC (a) 119,787 29,327 
Kuaishou Technology Class B (c) 587,174 23,377 
Match Group, Inc. (a) 61,109 9,341 
Pinterest, Inc. Class A (a) 211,240 17,022 
Snap, Inc. Class A (a) 1,878,413 123,337 
Tencent Holdings Ltd. 523,053 45,504 
Twitter, Inc. (a) 667,242 51,418 
Zillow Group, Inc. Class C (a)(d) 685,054 110,520 
  4,849,650 
Media - 0.0%   
Comcast Corp. Class A 183,385 9,668 
Wireless Telecommunication Services - 0.5%   
T-Mobile U.S., Inc. 2,829,002 339,395 
TOTAL COMMUNICATION SERVICES  7,564,637 
CONSUMER DISCRETIONARY - 22.5%   
Auto Components - 0.1%   
QuantumScape Corp. (b) 828,165 40,942 
Automobiles - 2.5%   
Lordstown Motors Corp. (a) 1,360,987 26,321 
Neutron Holdings, Inc. (e) 1,546,251 23 
Rad Power Bikes, Inc. (b)(e) 1,182,568 5,705 
Tesla, Inc. (a) 2,255,958 1,523,900 
XPeng, Inc. ADR (a)(d) 881,339 30,062 
  1,586,011 
Hotels, Restaurants & Leisure - 1.5%   
Airbnb, Inc. Class A (d) 45,169 9,321 
Chipotle Mexican Grill, Inc. (a) 50,961 73,486 
Hyatt Hotels Corp. Class A (d) 121,735 10,707 
Marriott International, Inc. Class A 1,197,237 177,275 
McDonald's Corp. 3,366 694 
NeoGames SA 84,683 2,568 
Penn National Gaming, Inc. (a) 2,480,744 287,221 
Planet Fitness, Inc. (a) 74,043 6,374 
Rush Street Interactive, Inc. (b) 447,095 6,943 
Rush Street Interactive, Inc. (a) 1,411,456 21,920 
Shake Shack, Inc. Class A (a) 80,728 9,565 
Starbucks Corp. 2,013,269 217,493 
Vail Resorts, Inc. 205,861 63,648 
Yum China Holdings, Inc. 676,019 40,453 
  927,668 
Household Durables - 0.7%   
D.R. Horton, Inc. 1,116,976 85,862 
KB Home 1,277,477 51,585 
Lennar Corp. Class A 2,992,384 248,278 
PulteGroup, Inc. 255,415 11,522 
Toll Brothers, Inc. 1,348,404 72,032 
  469,279 
Internet & Direct Marketing Retail - 9.4%   
Alibaba Group Holding Ltd. sponsored ADR (a) 922,365 219,302 
Amazon.com, Inc. (a) 1,236,656 3,824,890 
Doordash, Inc. 6,966 1,181 
Etsy, Inc. (a) 248,392 54,713 
Farfetch Ltd. Class A (a) 1,244,071 81,959 
JD.com, Inc. sponsored ADR (a) 1,795,721 168,564 
Ocado Group PLC (a) 2,594,079 79,510 
Ozon Holdings PLC ADR (d) 234,596 13,923 
Pinduoduo, Inc. ADR (a) 107,711 18,436 
Revolve Group, Inc. (a) 915,448 42,202 
The Booking Holdings, Inc. (a) 75,956 176,864 
The Honest Co., Inc. (a)(b)(e) 39,835 1,054 
The RealReal, Inc. (a) 1,317,786 33,656 
THG PLC 1,686,617 16,637 
Wayfair LLC Class A (a)(d) 3,918,042 1,132,236 
Zomato Pvt Ltd. (b)(e) 740 3,903 
  5,869,030 
Leisure Products - 0.3%   
Peloton Interactive, Inc. Class A (a) 1,412,623 170,179 
Multiline Retail - 0.4%   
Dollar General Corp. 204,849 38,714 
Dollar Tree, Inc. (a) 303,343 29,788 
Ollie's Bargain Outlet Holdings, Inc. (a) 1,818,567 150,359 
Target Corp. 317,989 58,332 
  277,193 
Specialty Retail - 2.6%   
Auto1 Group SE (c) 294,434 16,341 
Carvana Co. Class A (a) 1,053,225 298,589 
Cazoo Holdings Ltd. (b)(e) 224,106 3,317 
Five Below, Inc. (a) 231,849 43,152 
Floor & Decor Holdings, Inc. Class A (a) 1,023,366 97,312 
Lowe's Companies, Inc. 2,000,131 319,521 
MYT Netherlands Parent BV ADR (d) 177,842 5,138 
RH (a) 733,836 359,851 
The Home Depot, Inc. 1,134,812 293,167 
TJX Companies, Inc. 2,097,935 138,443 
Williams-Sonoma, Inc. 280,896 36,879 
  1,611,710 
Textiles, Apparel & Luxury Goods - 5.0%   
adidas AG 812,403 283,181 
Allbirds, Inc. (a)(b)(e) 307,430 3,554 
Canada Goose Holdings, Inc. (a)(d) 1,449,702 64,978 
Deckers Outdoor Corp. (a) 317,628 103,582 
Dr. Martens Ltd. (a) 5,001,417 34,380 
lululemon athletica, Inc. (a) 6,158,049 1,919,341 
NIKE, Inc. Class B 1,852,703 249,707 
On Holding AG (b)(e) 900 17,519 
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) 8,459,541 309,619 
Tory Burch LLC Class B (b)(e)(f) 1,275,684 96,174 
Under Armour, Inc. Class C (non-vtg.) (a) 469,477 8,544 
VF Corp. 125,123 9,901 
  3,100,480 
TOTAL CONSUMER DISCRETIONARY  14,052,492 
CONSUMER STAPLES - 2.1%   
Beverages - 0.9%   
Boston Beer Co., Inc. Class A (a) 20,173 20,752 
Fever-Tree Drinks PLC 799,068 25,371 
Keurig Dr. Pepper, Inc. 2,636,632 80,470 
Monster Beverage Corp. (a) 2,490,469 218,514 
PepsiCo, Inc. 316,848 40,934 
The Coca-Cola Co. 3,551,881 174,007 
  560,048 
Food & Staples Retailing - 0.4%   
Blink Health, Inc. Series A1 (b)(e) 173,460 5,662 
Costco Wholesale Corp. 569,419 188,478 
Kroger Co. 42,114 1,356 
Performance Food Group Co. (a) 1,056,011 57,278 
Sweetgreen, Inc. warrants 1/21/26 (a)(b)(e) 168,563 666 
Walgreens Boots Alliance, Inc. 384,341 18,421 
  271,861 
Food Products - 0.4%   
Archer Daniels Midland Co. 348,649 19,727 
Beyond Meat, Inc. (a)(d) 87,015 12,659 
Bunge Ltd. 935,792 71,663 
Darling Ingredients, Inc. (a) 945,306 59,592 
Freshpet, Inc. (a) 133,108 20,749 
JDE Peet's BV 314,086 12,752 
Laird Superfood, Inc. (d) 411,009 16,223 
Mondelez International, Inc. 138,977 7,388 
  220,753 
Household Products - 0.2%   
Church & Dwight Co., Inc. 221,400 17,435 
Colgate-Palmolive Co. 347,904 26,162 
Procter & Gamble Co. 620,201 76,613 
  120,210 
Personal Products - 0.0%   
Yatsen Holding Ltd. ADR 118,846 2,083 
Tobacco - 0.2%   
Altria Group, Inc. 2,665,688 116,224 
JUUL Labs, Inc. Class A (a)(b)(e) 44,067 3,380 
Philip Morris International, Inc. 238,669 20,053 
RLX Technology, Inc. ADR (d) 528,387 9,252 
  148,909 
TOTAL CONSUMER STAPLES  1,323,864 
ENERGY - 0.7%   
Energy Equipment & Services - 0.1%   
Halliburton Co. 1,869,737 40,816 
Schlumberger Ltd. 1,774,986 49,540 
  90,356 
Oil, Gas & Consumable Fuels - 0.6%   
EOG Resources, Inc. 126,753 8,183 
Hess Corp. 3,271,524 214,383 
Pioneer Natural Resources Co. 135,885 20,188 
Reliance Industries Ltd. 268,958 4,404 
Reliance Industries Ltd. 4,034,380 113,812 
  360,970 
TOTAL ENERGY  451,326 
FINANCIALS - 1.6%   
Banks - 0.9%   
Bank of America Corp. 3,742,439 129,900 
First Republic Bank 180,123 29,675 
HDFC Bank Ltd. sponsored ADR (a) 1,412,295 111,769 
JPMorgan Chase & Co. 1,320,536 194,343 
Wells Fargo & Co. 1,617,442 58,503 
  524,190 
Capital Markets - 0.5%   
Aspirational Consumer Lifestyle Corp. Class A (a) 65,000 710 
B3 SA - Brasil Bolsa Balcao 6,080,200 58,912 
BlackRock, Inc. Class A 208,200 144,595 
Charles Schwab Corp. 1,718,323 106,055 
Edelweiss Financial Services Ltd. (a) 1,779,664 1,662 
Vesper Healthcare Acquisition Corp. Class A (a)(d) 407,157 4,495 
  316,429 
Consumer Finance - 0.0%   
Discover Financial Services 91,262 8,585 
Diversified Financial Services - 0.2%   
Ant International Co. Ltd. Class C (a)(b)(e) 1,658,265 8,921 
AppHarvest, Inc. (b) 2,170,878 62,798 
Coinbase, Inc. (a)(b)(e) 48,600 18,128 
Decarbonization Plus Acquisition Corp. Class A (a)(d) 119,446 1,406 
Gemini Therapeutics, Inc. 64,721 984 
Gemini Therapeutics, Inc. (b) 658,627 9,511 
Nuvation Bio, Inc. (b) 2,125,093 19,183 
  120,931 
TOTAL FINANCIALS  970,135 
HEALTH CARE - 16.9%   
Biotechnology - 9.4%   
4D Molecular Therapeutics, Inc. 200,172 8,403 
AbbVie, Inc. 415,240 44,738 
ACADIA Pharmaceuticals, Inc. (a) 6,854,883 335,684 
ADC Therapeutics SA (a) 880,591 23,415 
Akouos, Inc. (c) 362,038 7,375 
Akouos, Inc. (a) 1,106,500 22,539 
Alector, Inc. (a) 862,252 15,676 
Allovir, Inc. (a) 2,007,887 73,408 
Alnylam Pharmaceuticals, Inc. (a) 3,909,685 579,024 
ALX Oncology Holdings, Inc. (a) 127,643 10,248 
Amgen, Inc. 740,074 166,457 
Annexon, Inc. (a) 210,116 6,116 
Arcutis Biotherapeutics, Inc. (a) 728,915 24,907 
Argenx SE ADR (a) 599,645 198,291 
Arrowhead Pharmaceuticals, Inc. (a) 92,064 7,334 
Ascendis Pharma A/S sponsored ADR (a) 71,052 11,011 
aTyr Pharma, Inc. (a) 364,795 1,587 
Avidity Biosciences, Inc. 1,088,411 26,263 
Axcella Health, Inc. (a)(g) 2,136,583 12,179 
BeiGene Ltd. ADR (a) 1,583,976 506,872 
BioAtla, Inc. 809,370 42,978 
BioNTech SE ADR (a)(d) 543,523 59,260 
BioXcel Therapeutics, Inc. (a)(d) 741,829 39,769 
Bolt Biotherapeutics, Inc. 251,971 6,728 
BridgeBio Pharma, Inc. (a)(d) 194,104 13,719 
Burning Rock Biotech Ltd. ADR 43,798 1,576 
C4 Therapeutics, Inc. 54,007 2,318 
Calyxt, Inc. (a) 1,298,093 12,384 
Cerevel Therapeutics Holdings (a)(d) 480,239 7,280 
Cerevel Therapeutics Holdings (b) 1,384,300 20,986 
ChemoCentryx, Inc. (a) 3,097,219 210,115 
Cibus Corp. Series C (a)(b)(e)(f) 7,264,850 11,043 
Codiak Biosciences, Inc. (g) 735,311 11,316 
Codiak Biosciences, Inc. (g) 530,402 8,593 
CRISPR Therapeutics AG (a)(d) 52,824 6,639 
Cullinan Oncology, Inc. 108,707 4,394 
Cyclerion Therapeutics, Inc. (a) 295,063 1,133 
Cyclerion Therapeutics, Inc. (a)(b) 543,695 2,088 
Denali Therapeutics, Inc. (a) 363,574 26,105 
Evelo Biosciences, Inc. (a)(g) 2,856,142 34,759 
Exact Sciences Corp. (a) 185,759 25,286 
Exelixis, Inc. (a) 200,039 4,333 
Fate Therapeutics, Inc. (a) 2,350,946 210,927 
Foghorn Therapeutics, Inc. 448,836 7,388 
Foghorn Therapeutics, Inc. 361,607 5,654 
Fusion Pharmaceuticals, Inc. (a) 299,012 3,492 
Generation Bio Co. 2,080,809 72,662 
Homology Medicines, Inc. (a) 269,145 2,891 
Immunocore Holdings PLC 368,095 16,021 
Immunocore Holdings PLC ADR 251,971 12,185 
Inhibrx, Inc. (a)(d) 635,335 16,150 
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(e) 156,370 
Ionis Pharmaceuticals, Inc. (a)(g) 7,887,755 413,318 
Iovance Biotherapeutics, Inc. (a) 35,932 1,340 
Ironwood Pharmaceuticals, Inc. Class A (a) 362,878 3,349 
iTeos Therapeutics, Inc. (a) 221,502 9,210 
Karuna Therapeutics, Inc. (a)(g) 1,486,445 185,746 
Keros Therapeutics, Inc. 313,277 20,510 
Kinnate Biopharma, Inc. 301,419 10,076 
Kronos Bio, Inc. (d) 151,188 4,395 
Kronos Bio, Inc. 284,978 7,870 
Kura Oncology, Inc. (a) 211,563 5,924 
Kymera Therapeutics, Inc. (a) 135,677 6,510 
Lexicon Pharmaceuticals, Inc. (a)(d) 3,483,934 25,049 
Moderna, Inc. (a) 1,528,596 236,642 
Morphic Holding, Inc. (a) 839,911 30,371 
Novavax, Inc. (a) 348,275 80,532 
Nuvation Bio Pvt, Inc. 2,556,752 23,080 
Olema Pharmaceuticals, Inc. 250,297 9,992 
ORIC Pharmaceuticals, Inc. (a) 1,146,779 37,156 
Passage Bio, Inc. 633,724 11,420 
PMV Pharmaceuticals, Inc. 116,325 4,377 
Poseida Therapeutics, Inc. (a) 1,222,939 13,501 
Poseida Therapeutics, Inc. (c) 906,572 10,009 
Praxis Precision Medicines, Inc. 1,602,962 69,729 
Prelude Therapeutics, Inc. 331,913 20,688 
Protagonist Therapeutics, Inc. (a) 765,282 18,038 
Prothena Corp. PLC (a) 873,202 19,490 
PTC Therapeutics, Inc. (a) 759,772 43,383 
Regeneron Pharmaceuticals, Inc. (a) 350,822 158,070 
Relay Therapeutics, Inc. (a) 588,698 24,296 
Repare Therapeutics, Inc. 82,690 2,721 
Repligen Corp. (a) 161,734 34,351 
Revolution Medicines, Inc. 872,167 39,841 
Rigel Pharmaceuticals, Inc. (a)(d)(g) 10,290,554 42,706 
Rubius Therapeutics, Inc. (a)(d)(g) 4,699,423 48,780 
Sage Therapeutics, Inc. (a) 2,511,627 213,488 
Sana Biotechnology, Inc. 58,799 1,807 
Sarepta Therapeutics, Inc. (a) 185,111 16,116 
Scholar Rock Holding Corp. (a) 1,116,907 60,425 
Seagen, Inc. (a) 53,271 8,050 
Seer, Inc. (d) 985,287 47,520 
Seres Therapeutics, Inc. (a) 4,465,063 85,015 
Shattuck Labs, Inc. 1,171,158 48,369 
Sigilon Therapeutics, Inc. 334,877 8,908 
Silverback Therapeutics, Inc. (d) 1,477,885 71,027 
Silverback Therapeutics, Inc. 168,380 7,283 
Springworks Therapeutics, Inc. (a) 1,252,309 107,761 
Spruce Biosciences, Inc. 210,858 4,407 
Stoke Therapeutics, Inc. (a) 101,726 6,092 
Syros Pharmaceuticals, Inc. (a) 1,338,274 11,242 
Syros Pharmaceuticals, Inc. (a)(c) 938,007 7,879 
Syros Pharmaceuticals, Inc. warrants 10/10/22 (a) 112,640 228 
Taysha Gene Therapies, Inc. 1,049,259 26,851 
Taysha Gene Therapies, Inc. 360,588 8,766 
TG Therapeutics, Inc. (a) 1,341,270 58,707 
Translate Bio, Inc. (a) 1,974,193 46,078 
Turning Point Therapeutics, Inc. (a) 103,797 12,239 
Twist Bioscience Corp. (a)(d) 109,162 15,025 
Ultragenyx Pharmaceutical, Inc. (a) 79,123 11,199 
uniQure B.V. (a) 898,693 32,982 
UNITY Biotechnology, Inc. (a)(d) 1,758,206 11,973 
Vaxcyte, Inc. 1,147,140 27,027 
Vertex Pharmaceuticals, Inc. (a) 163,980 34,854 
Vor Biopharma, Inc. (a) 289,123 12,999 
Vor Biopharma, Inc. 404,932 16,385 
Xencor, Inc. (a) 1,086,784 53,546 
Yumanity Therapeutics, Inc. (b) 106,446 1,892 
Yumanity Therapeutics, Inc. 281,898 4,508 
Zai Lab Ltd. ADR (a) 1,018,135 150,195 
Zentalis Pharmaceuticals, Inc. 412,755 17,352 
  5,902,364 
Health Care Equipment & Supplies - 3.2%   
Abbott Laboratories 379,805 45,493 
Danaher Corp. 929,088 204,093 
DexCom, Inc. (a) 559,759 222,661 
Genmark Diagnostics, Inc. (a) 1,419,210 27,746 
Insulet Corp. (a) 1,781,260 461,524 
Intuitive Surgical, Inc. (a) 282,696 208,290 
Novocure Ltd. (a) 3,481,696 519,121 
Outset Medical, Inc. 452,275 22,519 
Outset Medical, Inc. 676,392 31,994 
Penumbra, Inc. (a) 412,703 117,385 
Presbia PLC (a)(e)(g) 1,099,338 11 
Pulmonx Corp. 4,229 240 
Shockwave Medical, Inc. (a) 1,094,299 127,770 
  1,988,847 
Health Care Providers & Services - 1.1%   
1Life Healthcare, Inc. (a) 1,153,325 54,794 
Alignment Healthcare Partners unit (b)(e) 870,575 16,299 
Centene Corp. (a) 723,195 42,336 
Clover Health Investments Corp. (b) 952,500 8,954 
Clover Health Investments Corp. Class B 1,665,851 14,093 
CVS Health Corp. 365,045 24,871 
Humana, Inc. 77,950 29,594 
Oak Street Health, Inc. (a) 928,378 49,232 
Progyny, Inc. (a) 318,495 13,405 
Signify Health, Inc. 159,465 5,266 
UnitedHealth Group, Inc. 1,332,076 442,542 
  701,386 
Health Care Technology - 0.0%   
Castlight Health, Inc. Class B (a) 1,195,232 2,032 
GoodRx Holdings, Inc. (d) 170,665 7,598 
  9,630 
Life Sciences Tools & Services - 1.7%   
10X Genomics, Inc. (a) 1,018,637 181,307 
10X Genomics, Inc. Class B (c) 2,870,040 510,838 
AbCellera Biologics, Inc. (d) 28,024 1,057 
Adaptive Biotechnologies Corp. (a) 124,848 7,063 
Berkeley Lights, Inc. (a) 2,997 186 
Bruker Corp. 266,284 16,238 
Nanostring Technologies, Inc. (a) 430,382 30,036 
Sartorius Stedim Biotech 5,406 2,361 
Seer, Inc. 696,611 30,238 
Seer, Inc. Class A (b) 398,162 19,203 
Sotera Health Co. 84,179 2,201 
Thermo Fisher Scientific, Inc. 239,767 107,914 
WuXi AppTec Co. Ltd. (H Shares) (c) 1,143,198 23,832 
Wuxi Biologics (Cayman), Inc. (a)(c) 9,739,924 120,667 
  1,053,141 
Pharmaceuticals - 1.5%   
Adimab LLC (a)(b)(e)(f) 3,162,765 160,629 
Arvinas Holding Co. LLC (a) 222,094 17,390 
Atea Pharmaceuticals, Inc. 3,071,424 231,463 
Bristol-Myers Squibb Co. 490,208 30,064 
Dragonfly Therapeutics, Inc. (a)(b)(e) 481,725 13,320 
Fulcrum Therapeutics, Inc. (a) 880,342 11,101 
Hansoh Pharmaceutical Group Co. Ltd. (a)(c) 2,400,466 12,224 
Harmony Biosciences Holdings, Inc. (a) 1,901,697 67,453 
Harmony Biosciences Holdings, Inc. (c) 38,073 1,350 
Intra-Cellular Therapies, Inc. (a) 3,665,371 129,864 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 254,484 4,001 
Kaleido Biosciences, Inc. (a)(g) 2,500,456 22,329 
Nektar Therapeutics (a) 2,614,207 59,316 
OptiNose, Inc. (a)(g) 2,759,605 10,707 
Pharvaris BV 184,759 7,019 
Pliant Therapeutics, Inc. 611,364 20,230 
Royalty Pharma PLC 469,820 21,880 
Royalty Pharma PLC (c) 1,213,800 56,527 
Royalty Pharma PLC (a)(b)(e) 9,467 
Sienna Biopharmaceuticals, Inc. (a)(g) 1,786,276 36 
Stemcentrx, Inc. rights 12/31/21 (a)(e) 2,065,715 
Theravance Biopharma, Inc. (a) 1,814,225 30,062 
UCB SA 121,310 12,066 
  919,031 
TOTAL HEALTH CARE  10,574,399 
INDUSTRIALS - 5.3%   
Aerospace & Defense - 0.3%   
Axon Enterprise, Inc. (a) 56,642 9,374 
Space Exploration Technologies Corp. Class A (a)(b)(e) 418,210 175,644 
The Boeing Co. 90,141 19,111 
  204,129 
Air Freight & Logistics - 0.3%   
FedEx Corp. 397,027 101,043 
United Parcel Service, Inc. Class B 675,067 106,546 
  207,589 
Airlines - 1.7%   
Delta Air Lines, Inc. 3,671,738 176,023 
JetBlue Airways Corp. (a) 8,976,242 165,432 
Ryanair Holdings PLC sponsored ADR (a) 225,465 24,242 
Southwest Airlines Co. 5,248,343 305,086 
Spirit Airlines, Inc. (a) 1,264,827 45,382 
United Airlines Holdings, Inc. (a) 1,871,515 98,591 
Wheels Up Partners Holdings LLC Series B (a)(b)(f) 12,825,647 54,894 
Wizz Air Holdings PLC (a)(c) 2,218,042 164,088 
  1,033,738 
Building Products - 0.3%   
Carrier Global Corp. 313,068 11,436 
Resideo Technologies, Inc. (a) 582,601 13,994 
The AZEK Co., Inc. 350,710 15,470 
Trane Technologies PLC 810,965 124,272 
  165,172 
Electrical Equipment - 0.4%   
AMETEK, Inc. 196,506 23,182 
Eaton Corp. PLC 222,635 28,985 
Emerson Electric Co. 566,901 48,697 
Generac Holdings, Inc. (a) 229,645 75,682 
Rockwell Automation, Inc. 132,471 32,228 
Shoals Technologies Group, Inc. 420,378 13,713 
  222,487 
Industrial Conglomerates - 0.3%   
3M Co. 498,606 87,286 
Honeywell International, Inc. 393,613 79,648 
  166,934 
Machinery - 0.9%   
Caterpillar, Inc. 529,678 114,347 
Cummins, Inc. 205,455 52,021 
Deere & Co. 624,259 217,941 
Fortive Corp. 479,383 31,553 
Illinois Tool Works, Inc. 242,829 49,095 
Ingersoll Rand, Inc. (a) 327,955 15,197 
Nikola Corp. (a)(d) 788,733 14,276 
Xylem, Inc. 913,526 90,951 
  585,381 
Professional Services - 0.0%   
CoStar Group, Inc. (a) 6,446 5,310 
Road & Rail - 1.1%   
Avis Budget Group, Inc. (a) 397,452 22,078 
CSX Corp. 419,393 38,395 
Kansas City Southern 153,171 32,524 
Lyft, Inc. (a) 1,460,975 81,376 
Uber Technologies, Inc. (a) 5,728,186 296,434 
Union Pacific Corp. 1,171,359 241,253 
  712,060 
TOTAL INDUSTRIALS  3,302,800 
INFORMATION TECHNOLOGY - 35.8%   
Communications Equipment - 0.4%   
Arista Networks, Inc. (a) 26,847 7,513 
Ciena Corp. (a) 1,851,640 96,600 
Infinera Corp. (a)(d)(g) 12,374,774 121,582 
Lumentum Holdings, Inc. (a) 390,114 35,110 
  260,805 
Electronic Equipment & Components - 0.3%   
908 Devices, Inc. 156,373 8,317 
Arlo Technologies, Inc.(a) 1,022,560 7,117 
II-VI, Inc. (a) 990,459 83,496 
TE Connectivity Ltd. 15,711 2,043 
Trimble, Inc. (a) 832,916 61,752 
Vontier Corp. (a) 95,842 3,009 
  165,734 
IT Services - 6.9%   
Accenture PLC Class A 114,701 28,778 
Actua Corp. (a)(e) 1,462,917 73 
Affirm Holdings, Inc. (d) 52,869 4,920 
BigCommerce Holdings, Inc. (a)(d) 57,889 3,422 
Black Knight, Inc. (a) 402,087 30,836 
MasterCard, Inc. Class A 1,458,691 516,158 
MongoDB, Inc. Class A (a) 22,475 8,674 
Nuvei Corp. (a)(c) 164,404 8,557 
Okta, Inc. (a) 182,022 47,590 
PayPal Holdings, Inc. (a) 4,019,301 1,044,415 
Riskified Ltd. (a)(b)(e) 719,400 8,273 
Riskified Ltd. warrants (a)(b)(e) 4,733 
Shopify, Inc. Class A (a) 1,282,506 1,661,564 
Snowflake Computing, Inc. 34,784 9,028 
Snowflake Computing, Inc.:   
Class B 24,381 6,011 
Class B (c) 8,127 2,109 
Square, Inc. (a) 1,342,614 308,841 
TELUS International, Inc. 225,906 6,581 
Twilio, Inc. Class A (a) 18,368 7,216 
Visa, Inc. Class A 2,587,980 549,661 
Wix.com Ltd. (a) 115,043 40,101 
Worldline SA (a)(c) 305,707 27,221 
  4,320,029 
Semiconductors & Semiconductor Equipment - 10.8%   
Advanced Micro Devices, Inc. (a) 5,316,228 449,274 
Applied Materials, Inc. 1,657,104 195,853 
Array Technologies, Inc. 127,023 4,710 
ASML Holding NV 349,579 198,243 
Broadcom, Inc. 122,335 57,482 
Cirrus Logic, Inc. (a) 1,657,999 135,591 
Cree, Inc. (a) 303,051 34,384 
First Solar, Inc. (a) 561,562 45,498 
Intel Corp. 275,918 16,770 
KLA Corp. 217,952 67,833 
Marvell Technology Group Ltd. 2,751,679 132,851 
Micron Technology, Inc. (a) 1,701,148 155,706 
NVIDIA Corp. 8,047,393 4,414,647 
Qualcomm, Inc. 864,045 117,674 
Silicon Laboratories, Inc. (a)(g) 2,718,603 423,395 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 1,117,672 140,760 
Teradyne, Inc. 274,768 35,338 
Texas Instruments, Inc. 559,575 96,398 
Xilinx, Inc. 216,652 28,230 
  6,750,637 
Software - 10.5%   
2U, Inc. (a)(d) 279,251 11,067 
Adobe, Inc. (a) 828,425 380,802 
Agora, Inc. ADR (a)(d) 13,061 795 
Atlassian Corp. PLC (a) 83,268 19,793 
Autodesk, Inc. (a) 610,011 168,363 
Avalara, Inc. (a) 9,290 1,458 
Bill.Com Holdings, Inc. (a) 14,113 2,329 
BTRS Holdings, Inc. (b) 648,723 10,963 
Cloudflare, Inc. (a) 6,043,834 447,062 
Coupa Software, Inc. (a) 74,405 25,763 
Crowdstrike Holdings, Inc. (a) 138,901 30,003 
Datadog, Inc. Class A (a) 48,951 4,670 
DocuSign, Inc. (a) 72,505 16,434 
Elastic NV (a) 163,569 21,982 
Epic Games, Inc. (b)(e) 51,800 29,785 
HubSpot, Inc. (a) 526,103 270,943 
Intuit, Inc. 352,174 137,397 
JFrog Ltd. (d) 70,255 3,758 
Lightspeed POS, Inc. 305,950 20,933 
LivePerson, Inc. (a) 867,706 56,939 
Medallia, Inc. (a)(d) 206,560 8,339 
Microsoft Corp. 10,960,809 2,547,073 
Nutanix, Inc. Class A (a) 12,147,647 367,891 
Oracle Corp. 1,658,334 106,979 
Paycom Software, Inc. (a) 61,549 23,034 
Paylocity Holding Corp. (a) 97,444 18,630 
Qualtrics International, Inc. (d) 28,421 1,080 
RingCentral, Inc. (a) 35,413 13,392 
Salesforce.com, Inc. (a) 6,859,027 1,484,979 
Slack Technologies, Inc. Class A (a) 238,165 9,748 
The Trade Desk, Inc. (a) 7,670 6,177 
Workday, Inc. Class A (a) 113,557 27,842 
Zendesk, Inc. (a) 897,477 131,157 
Zoom Video Communications, Inc. Class A (a) 252,854 94,469 
Zscaler, Inc. (a) 315,969 64,783 
  6,566,812 
Technology Hardware, Storage & Peripherals - 6.9%   
Apple, Inc. 33,923,895 4,113,612 
Pure Storage, Inc. Class A (a) 7,933,890 185,494 
Samsung Electronics Co. Ltd. 434,695 31,806 
  4,330,912 
TOTAL INFORMATION TECHNOLOGY  22,394,929 
MATERIALS - 1.0%   
Chemicals - 0.3%   
Albemarle Corp. U.S. (d) 51,261 8,059 
Corteva, Inc. 2,514,651 113,536 
Dow, Inc. 363,066 21,533 
DuPont de Nemours, Inc. 751,165 52,822 
The Mosaic Co. 245,729 7,224 
  203,174 
Containers & Packaging - 0.2%   
Ball Corp. 965,904 82,479 
Sealed Air Corp. (d) 724,188 30,343 
  112,822 
Metals & Mining - 0.5%   
Barrick Gold Corp. (Canada) 2,876,013 53,674 
Freeport-McMoRan, Inc. 6,762,298 229,310 
Rio Tinto PLC sponsored ADR (d) 364,726 31,877 
  314,861 
TOTAL MATERIALS  630,857 
REAL ESTATE - 0.3%   
Equity Real Estate Investment Trusts (REITs) - 0.2%   
American Tower Corp. 252,664 54,608 
Simon Property Group, Inc. 455,132 51,394 
  106,002 
Real Estate Management & Development - 0.1%   
KE Holdings, Inc. ADR (a)(d) 906,472 57,860 
TOTAL REAL ESTATE  163,862 
TOTAL COMMON STOCKS   
(Cost $18,451,071)  61,429,301 
Preferred Stocks - 1.5%   
Convertible Preferred Stocks - 1.4%   
COMMUNICATION SERVICES - 0.1%   
Diversified Telecommunication Services - 0.1%   
Starry, Inc.:   
Series B (a)(b)(e) 9,869,159 14,113 
Series C (a)(b)(e) 5,234,614 7,485 
Series D (a)(b)(e) 10,743,446 15,363 
  36,961 
CONSUMER DISCRETIONARY - 0.4%   
Automobiles - 0.2%   
Rad Power Bikes, Inc.:   
Series A (b)(e) 154,174 744 
Series C (b)(e) 606,658 2,926 
Rivian Automotive, Inc.:   
Series E (b)(e) 2,713,913 100,008 
Series F (b)(e) 1,133,878 41,783 
  145,461 
Hotels, Restaurants & Leisure - 0.1%   
MOD Super Fast Pizza Holdings LLC Series 3 (a)(b)(e)(f) 82,137 16,513 
Topgolf International, Inc. Series F (a)(b) 819,532 19,202 
  35,715 
Internet & Direct Marketing Retail - 0.1%   
Instacart, Inc.:   
Series H (b)(e) 72,310 9,039 
Series I (b)(e) 32,756 4,095 
Reddit, Inc. Series B (a)(b)(e) 384,303 16,323 
The Honest Co., Inc.:   
Series C (a)(b)(e) 92,950 2,829 
Series D (a)(b)(e) 69,363 2,111 
Zomato Pvt Ltd.:   
Series B (b)(e) 29 153 
Series E (b)(e) 194,271 
Series G (b)(e) 200 1,055 
Series J7 (b)(e) 1,468 7,743 
Series K (b)(e) 2,311 12,190 
  55,538 
Specialty Retail - 0.0%   
Fanatics, Inc. Series E (b)(e) 558,178 9,651 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (a)(b)(e) 121,335 1,403 
Series B (a)(b)(e) 21,315 246 
Series C (a)(b)(e) 203,730 2,355 
Series D (a)(b)(e) 260,897 3,016 
Series Seed (a)(b)(e) 406,151 4,695 
Freenome, Inc. Series C (b)(e) 900,884 7,072 
  18,787 
TOTAL CONSUMER DISCRETIONARY  265,152 
CONSUMER STAPLES - 0.1%   
Food & Staples Retailing - 0.1%   
Blink Health, Inc. Series C (a)(b)(e) 848,988 27,711 
Sweetgreen, Inc.:   
Series C (a)(b)(e) 5,291 70 
Series D (a)(b)(e) 85,105 1,119 
Series H (a)(b)(e) 705,259 9,274 
Series I (a)(b)(e) 200,582 2,638 
Series J (b)(e) 168,563 2,217 
  43,029 
Food Products - 0.0%   
Agbiome LLC Series C (a)(b)(e) 1,060,308 6,716 
Tobacco - 0.0%   
JUUL Labs, Inc. Series E (a)(b)(e) 22,033 1,690 
TOTAL CONSUMER STAPLES  51,435 
FINANCIALS - 0.1%   
Diversified Financial Services - 0.1%   
Paragon Biosciences Emalex Capital, Inc.:   
Series B (a)(b)(e) 416,094 4,452 
Series C (b)(e) 559,977 5,992 
Sonder Holdings, Inc.:   
Series D1 (b)(e) 965,896 10,400 
Series E (b)(e) 1,478,345 15,917 
  36,761 
HEALTH CARE - 0.3%   
Biotechnology - 0.2%   
23andMe, Inc. Series F (a)(b) 590,383 13,572 
Adagio Theraputics, Inc.:   
Series A (b)(e) 413,930 28,673 
Series B (b)(e) 149,500 10,356 
Ambrx, Inc.:   
Series A (b)(e) 1,353,862 2,789 
Series B (b)(e) 1,218,475 2,510 
Element Biosciences, Inc. Series B (a)(b)(e) 1,096,312 8,244 
EQRx, Inc. Series B (b)(e) 6,908,598 22,937 
Inscripta, Inc. Series D (b)(e) 1,690,173 9,009 
Intarcia Therapeutics, Inc.:   
Series CC (a)(b)(e) 1,051,411 
Series DD (a)(b)(e) 1,543,687 
National Resilience, Inc. Series B (b)(e) 1,277,345 17,449 
  115,539 
Health Care Equipment & Supplies - 0.0%   
Kardium, Inc. Series D6 (b)(e) 5,899,008 5,992 
Health Care Providers & Services - 0.1%   
Conformal Medical, Inc. Series C (b)(e) 1,067,180 4,664 
Oscar Health, Inc. Series A-8 (a)(b)(e) 2,790,742 27,802 
Scorpion Therapeutics, Inc. Series B (b)(e) 1,325,354 3,207 
  35,673 
Health Care Technology - 0.0%   
PrognomIQ, Inc.:   
Series A5 (b)(e) 372,687 1,245 
Series B (b)(e) 1,111,446 3,712 
  4,957 
Pharmaceuticals - 0.0%   
Castle Creek Pharmaceutical Holdings, Inc.:   
Series B (a)(b)(e) 16,803 11,009 
Series C (a)(b)(e) 13,100 8,583 
Nohla Therapeutics, Inc. Series B (a)(b)(e) 9,124,200 
Vera Therapeutics, Inc. Series C (b)(e) 3,591,850 2,766 
  22,358 
TOTAL HEALTH CARE  184,519 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series G (a)(b)(e) 216,276 90,834 
Professional Services - 0.0%   
YourPeople, Inc. Series C (a)(b)(e) 5,833,137 1,108 
TOTAL INDUSTRIALS  91,942 
INFORMATION TECHNOLOGY - 0.3%   
Communications Equipment - 0.0%   
Xsight Labs Ltd. Series D (b)(e) 787,863 6,300 
Electronic Equipment & Components - 0.0%   
Enevate Corp. Series E (b)(e) 4,067,736 4,510 
IT Services - 0.1%   
AppNexus, Inc. Series E (Escrow) (a)(b)(e) 923,523 29 
ByteDance Ltd. Series E1 (b)(e) 403,450 44,208 
Riskified Ltd.:   
Series D (b)(e) 157,100 1,807 
Series E (a)(b)(e) 564,050 6,487 
  52,531 
Software - 0.2%   
Bird Rides, Inc. (b)(e) 1,151,097 6,032 
Bird Rides, Inc.:   
Series C1 (b)(e) 348,328 1,825 
Series D (b)(e) 415,100 2,175 
Databricks, Inc. Series G (b)(e) 83,432 14,798 
Dataminr, Inc. Series D (a)(b)(e) 1,773,901 27,850 
Jet.Com, Inc. Series B1 (Escrow) (a)(b)(e) 7,578,338 
Nuvia, Inc. Series B (b)(e) 1,235,787 9,083 
Taboola.Com Ltd. Series E (a)(b) 1,337,420 33,970 
UiPath, Inc.:   
Series A1 (a)(b)(e) 587,070 36,560 
Series B1 (a)(b)(e) 29,247 1,821 
Series B2 (a)(b)(e) 145,650 9,070 
  143,184 
TOTAL INFORMATION TECHNOLOGY  206,525 
TOTAL CONVERTIBLE PREFERRED STOCKS  873,295 
Nonconvertible Preferred Stocks - 0.1%   
CONSUMER DISCRETIONARY - 0.0%   
Automobiles - 0.0%   
Neutron Holdings, Inc. Series 1D (b)(e) 17,893,728 265 
Waymo LLC Series A2 (b)(e) 44,767 3,844 
  4,109 
Specialty Retail - 0.0%   
Cazoo Holdings Ltd.:   
Series A (b)(e) 7,316 108 
Series B (b)(e) 128,092 1,896 
Series C (b)(e) 2,600 38 
Series D (b)(e) 457,593 6,774 
  8,816 
TOTAL CONSUMER DISCRETIONARY  12,925 
HEALTH CARE - 0.1%   
Pharmaceuticals - 0.1%   
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(b)(e) 46,864 30,705 
Faraday Pharmaceuticals, Inc. Series B (a)(b)(e) 641,437 1,328 
  32,033 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  44,958 
TOTAL PREFERRED STOCKS   
(Cost $764,906)  918,253 
 Principal Amount (000s) Value (000s) 
Convertible Bonds - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Automobiles - 0.0%   
Neutron Holdings, Inc.:   
4% 5/22/27 (b)(e) 3,596 3,596 
4% 6/12/27 (b)(e) 743 743 
TOTAL CONVERTIBLE BONDS   
(Cost $4,339)  4,339 
Preferred Securities - 0.0%   
COMMUNICATION SERVICES - 0.0%   
Diversified Telecommunication Services - 0.0%   
Starry, Inc. 3% (b)(e)(h) 1,900 1,900 
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
Intarcia Therapeutics, Inc. 6% 7/18/21 (b)(e) 13,682 17,403 
Health Care Equipment & Supplies - 0.0%   
Kardium, Inc. 0% (b)(e)(h) 8,368 8,368 
TOTAL HEALTH CARE  25,771 
INFORMATION TECHNOLOGY - 0.0%   
Electronic Equipment & Components - 0.0%   
Enevate Corp. 0% 1/29/23 (b)(e) 1,732 1,732 
TOTAL PREFERRED SECURITIES   
(Cost $25,682)  29,403 
 Shares Value (000s) 
Money Market Funds - 0.7%   
Fidelity Cash Central Fund 0.07% (i) 78,725,652 78,741 
Fidelity Securities Lending Cash Central Fund 0.08% (i)(j) 338,869,649 338,904 
TOTAL MONEY MARKET FUNDS   
(Cost $417,640)  417,645 
TOTAL INVESTMENT IN SECURITIES - 100.5%   
(Cost $19,663,638)  62,798,941 
NET OTHER ASSETS (LIABILITIES) - (0.5)%  (331,820) 
NET ASSETS - 100%  $62,467,121 

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

 (a) Non-income producing

 (b) 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 $1,808,463,000 or 2.9% of net assets.

 (c) 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 $992,394,000 or 1.6% of net assets.

 (d) Security or a portion of the security is on loan at period end.

 (e) Level 3 security

 (f) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (g) Affiliated company

 (h) Security is perpetual in nature with no stated maturity date.

 (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) 
23andMe, Inc. Series F 8/31/17 $8,197 
Adagio Theraputics, Inc. Series A 7/15/20 $3,311 
Adagio Theraputics, Inc. Series B 11/4/20 $8,480 
Adimab LLC 9/17/14 - 6/5/15 $48,007 
Agbiome LLC Series C 6/29/18 $6,716 
Alignment Healthcare Partners unit 2/28/20 $10,550 
Allbirds, Inc. 10/9/18 $3,372 
Allbirds, Inc. Series A 10/9/18 $1,331 
Allbirds, Inc. Series B 10/9/18 $234 
Allbirds, Inc. Series C 10/9/18 $2,234 
Allbirds, Inc. Series D 12/23/19 $3,362 
Allbirds, Inc. Series Seed 10/9/18 - 1/23/20 $4,077 
Ambrx, Inc. Series A 11/6/20 $2,116 
Ambrx, Inc. Series B 11/6/20 $2,116 
Ant International Co. Ltd. Class C 5/16/18 $9,303 
AppHarvest, Inc. 1/29/21 $21,709 
AppNexus, Inc. Series E (Escrow) 8/1/14 $0 
Bird Rides, Inc. 2/12/21 $6,029 
Bird Rides, Inc. Series C1 12/21/18 $4,091 
Bird Rides, Inc. Series D 9/30/19 $5,362 
Blink Health, Inc. Series A1 12/30/20 $4,699 
Blink Health, Inc. Series C 11/7/19 - 1/21/21 $32,411 
BTRS Holdings, Inc. 1/12/21 $6,487 
ByteDance Ltd. Series E1 11/18/20 $44,208 
Castle Creek Pharmaceutical Holdings, Inc. Series A4 9/29/16 $15,506 
Castle Creek Pharmaceutical Holdings, Inc. Series B 10/9/18 $6,920 
Castle Creek Pharmaceutical Holdings, Inc. Series C 12/9/19 $5,395 
Cazoo Holdings Ltd. 9/30/20 $3,072 
Cazoo Holdings Ltd. Series A 9/30/20 $100 
Cazoo Holdings Ltd. Series B 9/30/20 $1,756 
Cazoo Holdings Ltd. Series C 9/30/20 $36 
Cazoo Holdings Ltd. Series D 9/30/20 $6,274 
Cerevel Therapeutics Holdings 10/27/20 $13,843 
Cibus Corp. Series C 2/16/18 - 5/10/19 $12,928 
Clover Health Investments Corp. 1/5/21 $9,525 
Coinbase, Inc. 2/25/21 - 2/26/21 $18,344 
Conformal Medical, Inc. Series C 7/24/20 $3,913 
Cyclerion Therapeutics, Inc. 4/2/19 $8,052 
Databricks, Inc. Series G 2/1/21 $14,798 
Dataminr, Inc. Series D 2/18/15 - 3/6/15 $22,617 
Dragonfly Therapeutics, Inc. 12/19/19 $12,746 
Element Biosciences, Inc. Series B 12/13/19 $5,745 
Enevate Corp. Series E 1/29/21 $4,510 
Enevate Corp. 0% 1/29/23 1/29/21 $1,732 
Epic Games, Inc. 7/13/20 - 7/30/20 $29,785 
EQRx, Inc. Series B 11/19/20 $18,943 
Fanatics, Inc. Series E 8/13/20 $9,651 
Faraday Pharmaceuticals, Inc. Series B 12/30/19 $843 
Freenome, Inc. Series C 8/14/20 $5,958 
Gemini Therapeutics, Inc. 2/5/21 $6,586 
Inscripta, Inc. Series D 11/13/20 $7,724 
Instacart, Inc. Series H 11/13/20 $4,339 
Instacart, Inc. Series I 2/26/21 $4,095 
Intarcia Therapeutics, Inc. Series CC 11/14/12 $14,331 
Intarcia Therapeutics, Inc. Series DD 3/17/14 $50,000 
Intarcia Therapeutics, Inc. 6% 7/18/21 2/26/19 $13,682 
Jet.Com, Inc. Series B1 (Escrow) 3/19/18 $0 
JUUL Labs, Inc. Class A 7/6/18 $1,299 
JUUL Labs, Inc. Series E 7/6/18 $650 
Kardium, Inc. Series D6 12/30/20 $5,992 
Kardium, Inc. 0% 12/30/20 $8,368 
MOD Super Fast Pizza Holdings LLC Series 3 11/3/16 - 5/15/19 $11,479 
National Resilience, Inc. Series B 12/1/20 $17,449 
Neutron Holdings, Inc. Series 1D 1/25/19 $4,339 
Neutron Holdings, Inc. 4% 5/22/27 6/4/20 $3,596 
Neutron Holdings, Inc. 4% 6/12/27 6/12/20 $743 
Nohla Therapeutics, Inc. Series B 5/1/18 $3,279 
Nuvation Bio, Inc. 2/10/21 $21,251 
Nuvia, Inc. Series B 9/18/20 $3,964 
On Holding AG 2/6/20 $8,202 
Oscar Health, Inc. Series A-8 1/20/16 $18,851 
Paragon Biosciences Emalex Capital, Inc. Series B 9/18/19 $4,240 
Paragon Biosciences Emalex Capital, Inc. Series C 2/26/21 $5,992 
PrognomIQ, Inc. Series A5 8/20/20 $225 
PrognomIQ, Inc. Series B 9/11/20 $2,540 
QuantumScape Corp. 11/25/20 $8,282 
Rad Power Bikes, Inc. 1/21/21 $5,705 
Rad Power Bikes, Inc. Series A 1/21/21 $744 
Rad Power Bikes, Inc. Series C 1/21/21 $2,926 
Reddit, Inc. Series B 7/26/17 $5,456 
Riskified Ltd. 12/20/19 - 4/15/20 $6,506 
Riskified Ltd. Series D 11/18/20 $1,807 
Riskified Ltd. Series E 10/28/19 $5,367 
Riskified Ltd. warrants 10/28/19 $0 
Rivian Automotive, Inc. Series E 7/10/20 $42,039 
Rivian Automotive, Inc. Series F 1/19/21 $41,783 
Royalty Pharma PLC 5/21/15 $1,116 
Rush Street Interactive, Inc. 12/29/20 $4,471 
Scorpion Therapeutics, Inc. Series B 1/8/21 $3,207 
Seer, Inc. Class A 12/8/20 $7,565 
Skillz, Inc. 12/16/20 $4,789 
Sonder Holdings, Inc. Series D1 12/20/19 $10,138 
Sonder Holdings, Inc. Series E 4/3/20 - 5/6/20 $15,917 
Space Exploration Technologies Corp. Class A 10/16/15 - 4/6/17 $38,201 
Space Exploration Technologies Corp. Series G 1/20/15 $16,753 
Starry, Inc. Series B 12/1/16 $5,339 
Starry, Inc. Series C 12/8/17 $4,826 
Starry, Inc. Series D 3/6/19 - 7/30/20 $15,363 
Starry, Inc. 3% 9/4/20 $1,900 
Sweetgreen, Inc. warrants 1/21/26 1/21/21 $0 
Sweetgreen, Inc. Series C 9/13/19 $90 
Sweetgreen, Inc. Series D 9/13/19 $1,455 
Sweetgreen, Inc. Series H 11/9/18 $9,197 
Sweetgreen, Inc. Series I 9/13/19 $3,430 
Sweetgreen, Inc. Series J 1/21/21 $2,882 
Taboola.Com Ltd. Series E 12/22/14 $13,943 
The Honest Co., Inc. 8/21/14 $1,078 
The Honest Co., Inc. Series C 8/21/14 $2,515 
The Honest Co., Inc. Series D 8/3/15 $3,174 
Topgolf International, Inc. Series F 11/10/17 $11,337 
Tory Burch LLC Class B 12/31/12 - 5/14/15 $83,038 
UiPath, Inc. Series A1 6/14/19 $7,701 
UiPath, Inc. Series B1 6/14/19 $384 
UiPath, Inc. Series B2 6/14/19 $1,911 
Vera Therapeutics, Inc. Series C 10/29/20 $2,126 
Waymo LLC Series A2 5/8/20 $3,844 
Wheels Up Partners Holdings LLC Series B 9/18/15 - 5/16/19 $39,183 
Xsight Labs Ltd. Series D 2/16/21 $6,300 
YourPeople, Inc. Series C 5/1/15 $86,920 
Yumanity Therapeutics, Inc. 12/22/20 $2,448 
Zomato Pvt Ltd. 1/22/21 - 1/29/21 $3,047 
Zomato Pvt Ltd. Series B 1/22/21 $119 
Zomato Pvt Ltd. Series E 1/22/21 $0 
Zomato Pvt Ltd. Series G 1/22/21 - 2/5/21 $824 
Zomato Pvt Ltd. Series J7 12/9/20 $5,979 
Zomato Pvt Ltd. Series K 2/10/21 $12,381 

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 $22 
Fidelity Securities Lending Cash Central Fund 1,561 
Total $1,583 

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.

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 (Amounts in thousands) Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Axcella Health, Inc. $12,628 $-- $414 $-- $81 $(116) $12,179 
Codiak Biosciences, Inc. 8,610 -- -- -- -- 2,706 11,316 
Codiak Biosciences, Inc. 4,834 3,727 365 -- 251 146 8,593 
Evelo Biosciences, Inc. 11,502 8,183 1,391 -- 781 15,684 34,759 
Infinera Corp. 106,561 2,211 4,559 -- 1,802 15,567 121,582 
Ionis Pharmaceuticals, Inc. 407,063 6,394 16,565 -- 11,628 4,798 413,318 
Kaleido Biosciences, Inc. 12,184 11,805 670 -- 131 (1,121) 22,329 
Karuna Therapeutics, Inc. 153,778 -- 5,730 -- 5,090 32,608 185,746 
OptiNose, Inc. 11,589 -- 434 -- (162) (286) 10,707 
Presbia PLC 12 -- -- -- -- (1) 11 
QuantumScape Corp. 73,528 -- -- -- -- (32,586) -- 
Rigel Pharmaceuticals, Inc. 28,642 6,178 1,555 -- (245) 9,686 42,706 
Rubius Therapeutics, Inc. 27,590 3,915 1,467 -- 373 18,369 48,780 
Rush Street Interactive, Inc. 23,402 -- 1,076 -- 517 (923) -- 
Sienna Biopharmaceuticals, Inc. 11 -- -- (653) 679 36 
Silicon Laboratories, Inc. 329,384 1,206 13,058 -- 8,256 97,607 423,395 
Total $1,211,318 $43,619 $47,285 $-- $27,850 $162,817 $1,335,457 

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 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.  Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security’s underlying assets and liabilities. 

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 and preferred securities are valued by pricing vendors who utilize matrix pricing which considers 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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