NPORT-EX 2 QTLY_223_20220831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Growth Opportunities Fund
August 31, 2022
GO-NPRT3-1022
1.805740.118
Common Stocks - 95.4%
 
  
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 15.7%
 
  
  
Diversified Telecommunication Services - 0.0%
  
  
  
Starry, Inc.
 
1,084,026
2,317
Entertainment - 1.6%
  
  
  
Roku, Inc. Class A (a)(b)
  
2,564,620
174,394
Sea Ltd. ADR (a)
  
1,430,084
88,665
 
  
  
263,059
Interactive Media & Services - 9.5%
  
  
  
Alphabet, Inc.:
  
  
  
 Class A (a)
  
2,951,160
319,375
 Class C (a)
  
8,256,480
901,195
Meta Platforms, Inc. Class A (a)
  
983,285
160,207
Zoominfo Technologies, Inc. (a)
  
2,899,300
131,686
 
  
  
1,512,463
Media - 0.6%
  
  
  
Innovid Corp. (a)(c)
  
1,017,722
3,735
Magnite, Inc. (a)(b)
  
4,643,231
34,964
TechTarget, Inc. (a)
  
747,027
48,482
 
  
  
87,181
Wireless Telecommunication Services - 4.0%
  
  
  
T-Mobile U.S., Inc. (a)
  
4,486,725
645,909
TOTAL COMMUNICATION SERVICES
  
  
2,510,929
CONSUMER DISCRETIONARY - 11.8%
 
  
  
Automobiles - 3.1%
  
  
  
Neutron Holdings, Inc. (a)(c)(d)
  
474,927
13
Rad Power Bikes, Inc. (a)(c)(d)
  
382,384
2,367
Tesla, Inc. (a)
  
1,755,540
483,844
 
  
  
486,224
Diversified Consumer Services - 0.0%
  
  
  
Duolingo, Inc. (a)
  
34,000
3,197
Hotels, Restaurants & Leisure - 0.6%
  
  
  
Airbnb, Inc. Class A (a)
  
840,500
95,077
Sonder Holdings, Inc. (a)
  
1,297,021
2,412
Sonder Holdings, Inc.:
  
  
  
 rights (a)(d)
  
15,489
15
 rights (a)(d)
  
15,488
14
 rights (a)(d)
  
15,488
12
 rights (a)(d)
  
15,488
11
 rights (a)(d)
  
15,488
10
 rights (a)(d)
  
15,488
9
 
  
  
97,560
Household Durables - 0.0%
  
  
  
Lennar Corp. Class A
 
19,600
1,518
Internet & Direct Marketing Retail - 7.0%
  
  
  
Amazon.com, Inc. (a)
  
4,054,040
513,931
Cazoo Group Ltd. Class A (a)(b)
  
7,365,703
4,971
Doordash, Inc. (a)
  
1,158,900
69,418
FSN E-Commerce Ventures Private Ltd. (a)(c)
  
2,325,300
38,638
Global-e Online Ltd. (a)(b)
  
2,422,208
76,518
Lyft, Inc. (a)
  
5,821,261
85,747
Uber Technologies, Inc. (a)
  
10,806,281
310,789
Wayfair LLC Class A (a)
  
477,229
25,155
 
  
  
1,125,167
Specialty Retail - 0.7%
  
  
  
Auto1 Group SE (a)(e)
  
10,208,872
107,313
Textiles, Apparel & Luxury Goods - 0.4%
  
  
  
Bombas LLC (a)(c)(d)
  
5,086,874
23,044
lululemon athletica, Inc. (a)
  
134,310
40,288
 
  
  
63,332
TOTAL CONSUMER DISCRETIONARY
  
  
1,884,311
CONSUMER STAPLES - 0.2%
 
  
  
Beverages - 0.1%
  
  
  
Boston Beer Co., Inc. Class A (a)
  
48,000
16,180
Food & Staples Retailing - 0.0%
  
  
  
Blink Health LLC Series A1 (a)(c)(d)
  
56,119
2,129
Food Products - 0.1%
  
  
  
Local Bounti Corp. (a)
  
2,034,278
7,568
Tobacco - 0.0%
  
  
  
JUUL Labs, Inc. Class B (a)(c)(d)
  
2,772
21
Philip Morris International, Inc.
 
37,100
3,543
 
  
  
3,564
TOTAL CONSUMER STAPLES
  
  
29,441
ENERGY - 10.3%
 
  
  
Oil, Gas & Consumable Fuels - 10.3%
  
  
  
Antero Resources Corp. (a)
  
9,667,200
387,461
Canadian Natural Resources Ltd.
 
3,423,300
187,671
Cenovus Energy, Inc. (Canada)
 
7,307,700
137,101
Cheniere Energy, Inc.
 
72,400
11,597
Exxon Mobil Corp.
 
3,429,700
327,845
Hess Corp.
 
2,213,145
267,304
Imperial Oil Ltd.
 
1,100,600
54,018
Ovintiv, Inc.
 
2,383,200
126,643
Pioneer Natural Resources Co.
 
115,500
29,247
Range Resources Corp.
 
286,800
9,424
Tourmaline Oil Corp.
 
2,002,000
118,365
 
  
  
1,656,676
FINANCIALS - 1.5%
 
  
  
Banks - 1.3%
  
  
  
Starling Bank Ltd. Series D (a)(c)(d)
  
6,988,700
19,144
Wells Fargo & Co.
 
4,479,000
195,777
 
  
  
214,921
Diversified Financial Services - 0.2%
  
  
  
Rapyd Financial Network 2016 Ltd. (a)(c)(d)
  
340,545
24,019
TOTAL FINANCIALS
  
  
238,940
HEALTH CARE - 12.4%
 
  
  
Biotechnology - 2.8%
  
  
  
ADC Therapeutics SA (a)
  
238,174
1,624
Agios Pharmaceuticals, Inc. (a)
  
671,100
17,113
Alnylam Pharmaceuticals, Inc. (a)
  
399,835
82,634
ALX Oncology Holdings, Inc. (a)
  
653,300
8,493
Arcutis Biotherapeutics, Inc. (a)
  
235,100
6,336
Argenx SE ADR (a)
  
142,699
53,922
Ascendis Pharma A/S sponsored ADR (a)
  
67,662
6,060
Aurinia Pharmaceuticals, Inc. (a)
  
1,825,600
13,436
Blueprint Medicines Corp. (a)
  
89,800
6,575
Celldex Therapeutics, Inc. (a)
  
804,000
24,442
Cyteir Therapeutics, Inc. (a)
  
21,959
47
Cytokinetics, Inc. (a)
  
1,015,500
53,781
Erasca, Inc. (a)
  
1,462,700
13,194
Exelixis, Inc. (a)
  
1,277,900
22,670
Icosavax, Inc. (a)
  
736,800
3,478
Imago BioSciences, Inc. (a)
  
731,800
10,633
Instil Bio, Inc. (a)
  
1,581,200
8,222
Keros Therapeutics, Inc. (a)
  
277,800
9,826
Mirati Therapeutics, Inc. (a)
  
176,000
14,261
Monte Rosa Therapeutics, Inc. (a)
  
396,100
3,137
Morphic Holding, Inc. (a)
  
208,036
5,725
Natera, Inc. (a)
  
31,500
1,552
Nuvalent, Inc. Class A (a)
  
283,376
4,783
PTC Therapeutics, Inc. (a)
  
58,900
2,941
Relay Therapeutics, Inc. (a)(b)
  
885,885
20,349
Tenaya Therapeutics, Inc. (a)
  
421,700
1,851
TG Therapeutics, Inc. (a)
  
666,361
4,751
Vaxcyte, Inc. (a)
  
1,048,543
27,430
Verve Therapeutics, Inc. (a)
  
217,300
8,336
Zentalis Pharmaceuticals, Inc. (a)
  
686,100
18,394
 
  
  
455,996
Health Care Equipment & Supplies - 2.0%
  
  
  
Boston Scientific Corp. (a)
  
4,320,274
174,150
Insulet Corp. (a)
  
140,410
35,871
Penumbra, Inc. (a)
  
190,763
31,318
TransMedics Group, Inc. (a)(f)
  
1,589,817
82,718
 
  
  
324,057
Health Care Providers & Services - 6.9%
  
  
  
agilon health, Inc. (a)(b)
  
5,240,100
108,889
Alignment Healthcare, Inc. (a)
  
986,200
15,000
Cano Health, Inc. (a)
  
6,719,445
41,459
Centene Corp. (a)
  
2,300,244
206,424
Guardant Health, Inc. (a)
  
805,700
40,333
Humana, Inc.
 
445,660
214,710
LifeStance Health Group, Inc. (a)(b)
  
6,416,800
40,362
Oak Street Health, Inc. (a)(b)
  
4,727,500
123,861
P3 Health Partners, Inc. (a)(c)(f)
  
2,032,510
9,500
The Oncology Institute, Inc. (a)(c)
  
814,767
5,174
UnitedHealth Group, Inc.
 
569,167
295,585
 
  
  
1,101,297
Life Sciences Tools & Services - 0.6%
  
  
  
Danaher Corp.
 
244,900
66,101
Sartorius Stedim Biotech
 
76,900
28,262
 
  
  
94,363
Pharmaceuticals - 0.1%
  
  
  
Arvinas Holding Co. LLC (a)
  
316,700
13,409
TOTAL HEALTH CARE
  
  
1,989,122
INDUSTRIALS - 1.5%
 
  
  
Aerospace & Defense - 1.4%
  
  
  
Lockheed Martin Corp.
 
157,900
66,335
Northrop Grumman Corp.
 
148,100
70,790
Raytheon Technologies Corp.
 
499,500
44,830
Space Exploration Technologies Corp. Class A (a)(c)(d)
  
85,000
5,950
The Boeing Co. (a)
  
258,000
41,345
 
  
  
229,250
Air Freight & Logistics - 0.1%
  
  
  
Delhivery Private Ltd. (c)
  
1,039,700
7,068
FedEx Corp.
 
6,400
1,349
 
  
  
8,417
Road & Rail - 0.0%
  
  
  
Bird Global, Inc.:
  
  
  
 rights (a)(d)
  
106,001
5
 rights (a)(d)
  
106,001
3
 rights (a)(d)
  
106,001
1
 
  
  
9
TOTAL INDUSTRIALS
  
  
237,676
INFORMATION TECHNOLOGY - 36.4%
 
  
  
Electronic Equipment & Components - 1.2%
  
  
  
Flex Ltd. (a)
  
5,535,399
98,585
Jabil, Inc.
 
1,458,900
87,972
 
  
  
186,557
IT Services - 8.3%
  
  
  
Block, Inc. Class A (a)
  
879,300
60,593
Cloudflare, Inc. (a)
  
199,700
12,495
Cognizant Technology Solutions Corp. Class A
 
1,277,100
80,674
Cyxtera Technologies, Inc. (a)(c)
  
969,061
6,144
Dlocal Ltd. (a)(b)
  
1,451,300
36,094
EPAM Systems, Inc. (a)
  
156,400
66,705
Flywire Corp. (a)
  
962,273
23,922
Globant SA (a)
  
23,800
5,016
GoDaddy, Inc. (a)
  
2,210,004
167,563
Marqeta, Inc. Class A (a)(b)
  
6,320,252
49,235
MasterCard, Inc. Class A
 
615,512
199,654
MongoDB, Inc. Class A (a)
  
296,200
95,631
Nuvei Corp. (a)(e)
  
3,104,374
94,997
Payoneer Global, Inc. (a)(c)
  
442,000
2,926
Repay Holdings Corp. (a)
  
4,241,300
39,402
Shift4 Payments, Inc. (a)(b)
  
1,240,900
56,200
Snowflake, Inc. (a)
  
101,200
18,312
TaskUs, Inc. (a)
  
2,364,774
35,188
Twilio, Inc. Class A (a)
  
735,591
51,182
Visa, Inc. Class A
 
1,155,261
229,562
 
  
  
1,331,495
Semiconductors & Semiconductor Equipment - 9.9%
  
  
  
Advanced Micro Devices, Inc. (a)
  
1,078,700
91,549
Applied Materials, Inc.
 
1,296,401
121,952
GlobalFoundries, Inc.
 
3,727,400
222,973
Lam Research Corp.
 
214,076
93,746
Marvell Technology, Inc.
 
2,309,079
108,111
Micron Technology, Inc.
 
632,172
35,737
NVIDIA Corp.
 
3,262,072
492,377
NXP Semiconductors NV
 
1,233,772
203,054
onsemi (a)
  
3,019,761
207,669
 
  
  
1,577,168
Software - 13.8%
  
  
  
Bill.Com Holdings, Inc. (a)
  
348,400
56,399
Confluent, Inc. (a)(b)
  
466,200
12,755
Datadog, Inc. Class A (a)
  
441,600
46,346
DoubleVerify Holdings, Inc. (a)
  
2,664,445
68,876
Dynatrace, Inc. (a)
  
4,447,200
169,794
Elastic NV (a)
  
926,540
77,746
Epic Games, Inc. (a)(c)(d)
  
56,200
52,266
Five9, Inc. (a)
  
288,600
28,315
HubSpot, Inc. (a)
  
122,349
41,237
Intapp, Inc. (a)
  
1,879,240
27,230
Intuit, Inc.
 
220,308
95,125
Microsoft Corp.
 
5,039,215
1,317,611
Oracle Corp.
 
105,000
7,786
Pegasystems, Inc.
 
44,200
1,618
Pine Labs Private Ltd. (a)(c)(d)
  
16,636
8,881
Riskified Ltd. (a)
  
20,450
103
Riskified Ltd. Class B (a)
  
759,374
3,842
Salesforce.com, Inc. (a)
  
365,938
57,130
SentinelOne, Inc. (a)(b)
  
108,900
2,974
ServiceNow, Inc. (a)
  
170,858
74,258
Stripe, Inc. Class B (a)(c)(d)
  
73,500
2,077
The Trade Desk, Inc. (a)
  
821,410
51,502
Viant Technology, Inc. (a)
  
1,347,314
6,090
 
  
  
2,209,961
Technology Hardware, Storage & Peripherals - 3.2%
  
  
  
Apple, Inc.
 
3,270,260
514,150
TOTAL INFORMATION TECHNOLOGY
  
  
5,819,331
MATERIALS - 2.5%
 
  
  
Chemicals - 1.2%
  
  
  
CF Industries Holdings, Inc.
 
646,800
66,918
Nutrien Ltd.
 
1,013,200
92,981
The Mosaic Co.
 
532,600
28,691
 
  
  
188,590
Metals & Mining - 1.3%
  
  
  
Alcoa Corp.
 
1,358,900
67,238
ArcelorMittal SA Class A unit GDR (b)
  
2,904,600
68,520
Freeport-McMoRan, Inc.
 
2,771,400
82,033
 
  
  
217,791
TOTAL MATERIALS
  
  
406,381
REAL ESTATE - 0.2%
 
  
  
Real Estate Management & Development - 0.2%
  
  
  
Opendoor Technologies, Inc. (a)(b)
  
4,803,400
20,799
WeWork, Inc. (a)
  
2,056,600
8,432
 
  
  
29,231
UTILITIES - 2.9%
 
  
  
Electric Utilities - 1.9%
  
  
  
Constellation Energy Corp.
 
553,133
45,130
Exelon Corp.
 
349,900
15,364
ORSTED A/S (e)
  
713,456
69,635
PG&E Corp. (a)
  
14,517,400
179,000
 
  
  
309,129
Independent Power and Renewable Electricity Producers - 1.0%
  
  
  
NextEra Energy Partners LP
 
1,858,100
152,531
TOTAL UTILITIES
  
  
461,660
 
TOTAL COMMON STOCKS
 (Cost $12,459,073)
  
  
  
15,263,698
 
  
  
  
Preferred Stocks - 3.5%
 
  
Shares
Value ($)
(000s)
 
Convertible Preferred Stocks - 2.6%
 
  
  
COMMUNICATION SERVICES - 0.2%
  
  
  
Interactive Media & Services - 0.2%
  
  
  
Reddit, Inc. Series F (c)(d)
  
793,873
31,231
 
  
  
  
CONSUMER DISCRETIONARY - 0.3%
  
  
  
Automobiles - 0.0%
  
  
  
Rad Power Bikes, Inc.:
  
  
  
  Series A(a)(c)(d)
  
49,852
309
  Series C(a)(c)(d)
  
196,163
1,214
  Series D(c)(d)
  
415,700
2,573
 
  
  
4,096
Internet & Direct Marketing Retail - 0.3%
  
  
  
Circle Internet Financial Ltd. Series F (c)
  
155,650
7,586
GoBrands, Inc. Series G (a)(c)(d)
  
70,400
16,996
Instacart, Inc.:
  
  
  
  Series H(a)(c)(d)
  
267,054
12,848
  Series I(a)(c)(d)
  
90,554
4,357
 
  
  
41,787
Textiles, Apparel & Luxury Goods - 0.0%
  
  
  
CelLink Corp. Series D (c)(d)
  
380,829
7,068
 
  
  
  
TOTAL CONSUMER DISCRETIONARY
  
  
52,951
 
  
  
  
CONSUMER STAPLES - 0.2%
  
  
  
Food & Staples Retailing - 0.1%
  
  
  
Blink Health LLC Series C (a)(c)(d)
  
234,164
8,884
 
  
  
  
Food Products - 0.1%
  
  
  
Bowery Farming, Inc. Series C1 (a)(c)(d)
  
404,785
12,382
 
  
  
  
Tobacco - 0.0%
  
  
  
JUUL Labs, Inc.:
  
  
  
  Series C(a)(c)(d)
  
566,439
4,362
  Series D(a)(c)(d)
  
3,671
28
 
  
  
4,390
TOTAL CONSUMER STAPLES
  
  
25,656
 
  
  
  
HEALTH CARE - 0.0%
  
  
  
Health Care Technology - 0.0%
  
  
  
Aledade, Inc. Series E1 (c)(d)
  
153,312
7,636
 
  
  
  
INDUSTRIALS - 0.8%
  
  
  
Aerospace & Defense - 0.4%
  
  
  
Relativity Space, Inc. Series E (a)(c)(d)
  
1,068,417
21,667
Space Exploration Technologies Corp.:
  
  
  
  Series I(a)(c)(d)
  
16,438
11,507
  Series N(a)(c)(d)
  
51,400
35,980
 
  
  
69,154
Construction & Engineering - 0.3%
  
  
  
Beta Technologies, Inc. Series A (a)(c)(d)
  
441,839
45,585
 
  
  
  
Road & Rail - 0.1%
  
  
  
Convoy, Inc. Series D (a)(c)(d)
  
1,038,289
11,961
 
  
  
  
TOTAL INDUSTRIALS
  
  
126,700
 
  
  
  
INFORMATION TECHNOLOGY - 1.0%
  
  
  
Communications Equipment - 0.1%
  
  
  
Meesho Series F (c)(d)
  
243,800
16,637
Xsight Labs Ltd. Series D (a)(c)(d)
  
501,100
3,748
 
  
  
20,385
Electronic Equipment & Components - 0.1%
  
  
  
Enevate Corp. Series E (a)(c)(d)
  
7,873,996
8,730
 
  
  
  
IT Services - 0.2%
  
  
  
ByteDance Ltd. Series E1 (a)(c)(d)
  
116,411
17,126
Yanka Industries, Inc.:
  
  
  
  Series E(a)(c)(d)
  
341,047
6,500
  Series F(a)(c)(d)
  
380,955
7,261
 
  
  
30,887
Semiconductors & Semiconductor Equipment - 0.1%
  
  
  
GaN Systems, Inc.:
  
  
  
  Series F1(c)(d)
  
339,534
2,278
  Series F2(c)(d)
  
179,288
1,203
SiMa.ai:
  
  
  
  Series B(a)(c)(d)
  
1,198,500
8,498
  Series B1(c)(d)
  
80,281
569
 
  
  
12,548
Software - 0.5%
  
  
  
Bolt Technology OU Series E (c)(d)
  
290,611
45,130
Databricks, Inc.:
  
  
  
  Series G(a)(c)(d)
  
181,200
9,924
  Series H(c)(d)
  
32,352
1,772
Mountain Digital, Inc. Series D (c)(d)
  
896,466
14,003
Skyryse, Inc. Series B (c)(d)
  
244,100
5,900
Stripe, Inc. Series H (a)(c)(d)
  
30,700
868
Tenstorrent, Inc. Series C1 (a)(c)(d)
  
32,900
1,852
 
  
  
79,449
TOTAL INFORMATION TECHNOLOGY
  
  
151,999
 
  
  
  
MATERIALS - 0.1%
  
  
  
Metals & Mining - 0.1%
  
  
  
Diamond Foundry, Inc. Series C (a)(c)(d)
  
674,317
21,396
 
  
  
  
TOTAL CONVERTIBLE PREFERRED STOCKS
  
  
417,569
Nonconvertible Preferred Stocks - 0.9%
 
  
  
CONSUMER DISCRETIONARY - 0.5%
  
  
  
Automobiles - 0.0%
  
  
  
Neutron Holdings, Inc. Series 1C (a)(c)(d)
  
6,477,300
178
Waymo LLC Series A2 (a)(c)(d)
  
47,838
2,877
 
  
  
3,055
Internet & Direct Marketing Retail - 0.5%
  
  
  
Circle Internet Financial Ltd. Series E (c)
  
1,497,818
73,005
 
  
  
  
TOTAL CONSUMER DISCRETIONARY
  
  
76,060
 
  
  
  
FINANCIALS - 0.1%
  
  
  
Diversified Financial Services - 0.1%
  
  
  
Thriveworks TopCo LLC Series B (a)(c)(d)(g)
  
764,320
15,722
 
  
  
  
INFORMATION TECHNOLOGY - 0.3%
  
  
  
IT Services - 0.0%
  
  
  
Gupshup, Inc. (a)(c)(d)
  
509,400
9,938
 
  
  
  
Software - 0.3%
  
  
  
Pine Labs Private Ltd.:
  
  
  
  Series 1(a)(c)(d)
  
39,764
21,227
  Series A(a)(c)(d)
  
9,936
5,304
  Series B(a)(c)(d)
  
10,808
5,770
  Series B2(a)(c)(d)
  
8,745
4,668
  Series C(a)(c)(d)
  
16,265
8,683
  Series C1(a)(c)(d)
  
3,427
1,829
  Series D(a)(c)(d)
  
3,667
1,958
 
  
  
49,439
TOTAL INFORMATION TECHNOLOGY
  
  
59,377
 
  
  
  
TOTAL NONCONVERTIBLE PREFERRED STOCKS
  
  
151,159
 
TOTAL PREFERRED STOCKS
 (Cost $545,966)
  
  
  
568,728
 
  
  
  
Convertible Bonds - 0.1%
 
  
Principal
Amount (h)
(000s)
 
Value ($)
(000s)
 
CONSUMER DISCRETIONARY - 0.1%
 
  
  
Automobiles - 0.1%
  
  
  
Neutron Holdings, Inc.:
  
  
  
 4% 10/27/25 (c)(d)(i)
  
12,391
10,994
 4% 5/22/27 (c)(d)
  
843
931
 4% 6/12/27 (c)(d)
  
232
256
(Cost $13,466)
  
  
12,181
 
  
  
  
Preferred Securities - 0.1%
 
  
Principal
Amount (h)
(000s)
 
Value ($)
(000s)
 
INFORMATION TECHNOLOGY - 0.1%
 
  
  
Electronic Equipment & Components - 0.0%
  
  
  
Enevate Corp. 0% 1/29/23 (c)(d)
  
3,352
3,352
Semiconductors & Semiconductor Equipment - 0.1%
  
  
  
GaN Systems, Inc. 0% (c)(d)(j)
  
7,958
7,958
Software - 0.0%
  
  
  
Tenstorrent, Inc. 0% (c)(d)(j)
  
1,830
1,830
 
TOTAL PREFERRED SECURITIES
 (Cost $13,140)
  
  
  
13,140
 
  
  
  
Money Market Funds - 2.8%
 
  
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 2.33% (k)
  
165,353,648
165,387
Fidelity Securities Lending Cash Central Fund 2.34% (k)(l)
  
280,542,076
280,570
 
TOTAL MONEY MARKET FUNDS
 (Cost $445,957)
  
  
445,957
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 101.9%
 (Cost $13,477,602)
 
  
 
16,303,704
NET OTHER ASSETS (LIABILITIES) - (1.9)%  
(296,154)
NET ASSETS - 100.0%
16,007,550
 
  
 
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(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 $807,145,000 or 5.0% of net assets.
 
(d)
Level 3 security
 
(e)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $271,945,000 or 1.7% of net assets.
 
(f)
Affiliated company
 
(g)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(h)
Amount is stated in United States dollars unless otherwise noted.
 
(i)
Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end.
 
(j)
Security is perpetual in nature with no stated maturity date.
 
(k)
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.
 
(l)
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)
Aledade, Inc. Series E1
5/20/22
7,637
Beta Technologies, Inc. Series A
4/09/21
32,374
Blink Health LLC Series A1
12/30/20
1,520
Blink Health LLC Series C
11/07/19 - 7/14/21
8,939
Bolt Technology OU Series E
1/03/22
75,500
Bombas LLC
2/16/21 - 11/12/21
24,316
Bowery Farming, Inc. Series C1
5/18/21
24,388
ByteDance Ltd. Series E1
11/18/20
12,756
CelLink Corp. Series D
1/20/22
7,930
Circle Internet Financial Ltd. Series E
5/11/21
24,310
Circle Internet Financial Ltd. Series F
5/09/22
6,559
Convoy, Inc. Series D
10/30/19
14,058
Cyxtera Technologies, Inc.
2/21/21
9,691
Databricks, Inc. Series G
2/01/21
10,713
Databricks, Inc. Series H
8/31/21
2,377
Delhivery Private Ltd.
5/20/21
5,075
Diamond Foundry, Inc. Series C
3/15/21
16,184
Enevate Corp. Series E
1/29/21
8,730
Enevate Corp. 0% 1/29/23
1/29/21
3,352
Epic Games, Inc.
7/13/20 - 3/29/21
45,615
FSN E-Commerce Ventures Private Ltd.
10/07/20 - 10/26/20
6,381
GaN Systems, Inc. Series F1
11/30/21
2,879
GaN Systems, Inc. Series F2
11/30/21
1,520
GaN Systems, Inc. 0%
11/30/21
7,958
GoBrands, Inc. Series G
3/02/21
17,580
Gupshup, Inc.
6/08/21
11,648
Innovid Corp.
6/24/21
10,177
Instacart, Inc. Series H
11/13/20
16,023
Instacart, Inc. Series I
2/26/21
11,319
JUUL Labs, Inc. Class B
11/21/17
0
JUUL Labs, Inc. Series C
5/22/15
0
JUUL Labs, Inc. Series D
6/25/18
0
Meesho Series F
9/21/21
18,693
Mountain Digital, Inc. Series D
11/05/21
20,588
Neutron Holdings, Inc.
2/04/21
5
Neutron Holdings, Inc. Series 1C
7/03/18
1,184
Neutron Holdings, Inc. 4% 10/27/25
10/29/21
12,391
Neutron Holdings, Inc. 4% 5/22/27
6/04/20
843
Neutron Holdings, Inc. 4% 6/12/27
6/12/20
232
P3 Health Partners, Inc.
5/25/21
20,325
Payoneer Global, Inc.
2/03/21
4,420
Pine Labs Private Ltd.
6/30/21
6,203
Pine Labs Private Ltd. Series 1
6/30/21
14,826
Pine Labs Private Ltd. Series A
6/30/21
3,705
Pine Labs Private Ltd. Series B
6/30/21
4,030
Pine Labs Private Ltd. Series B2
6/30/21
3,261
Pine Labs Private Ltd. Series C
6/30/21
6,065
Pine Labs Private Ltd. Series C1
6/30/21
1,278
Pine Labs Private Ltd. Series D
6/30/21
1,367
Rad Power Bikes, Inc.
1/21/21
1,845
Rad Power Bikes, Inc. Series A
1/21/21
240
Rad Power Bikes, Inc. Series C
1/21/21
946
Rad Power Bikes, Inc. Series D
9/17/21
3,984
Rapyd Financial Network 2016 Ltd.
3/30/21
25,000
Reddit, Inc. Series F
8/11/21
49,057
Relativity Space, Inc. Series E
5/27/21
24,397
SiMa.ai Series B
5/10/21
6,145
SiMa.ai Series B1
4/25/22
569
Skyryse, Inc. Series B
10/21/21
6,024
Space Exploration Technologies Corp. Class A
2/16/21
3,570
Space Exploration Technologies Corp. Series I
4/05/18
2,778
Space Exploration Technologies Corp. Series N
8/04/20
13,878
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
13,359
Stripe, Inc. Class B
5/18/21
2,949
Stripe, Inc. Series H
3/15/21
1,232
Tenstorrent, Inc. Series C1
4/23/21
1,956
Tenstorrent, Inc. 0%
4/23/21
1,830
The Oncology Institute, Inc.
6/28/21
8,148
Thriveworks TopCo LLC Series B
7/23/21 - 2/25/22
21,961
Waymo LLC Series A2
5/08/20
4,108
Xsight Labs Ltd. Series D
2/16/21
4,007
Yanka Industries, Inc. Series E
5/15/20
4,120
Yanka Industries, Inc. Series F
4/08/21
12,144
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
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 ($)
%ownership,
end
of period
Fidelity Cash Central Fund 2.33%
90,946
2,897,032
2,822,591
474
-
-
165,387
0.3%
Fidelity Securities Lending Cash Central Fund 2.34%
856,362
2,286,604
2,862,396
2,164
-
-
280,570
0.8%
Total
947,308
5,183,636
5,684,987
2,638
-
-
445,957
  
 
  
  
  
  
  
  
  
  
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 ($)
Intapp, Inc.
88,631
-
24,201
-
(18,833)
(18,367)
-
Magnite, Inc.
122,205
22,811
43,234
-
(68,263)
1,445
-
P3 Health Partners, Inc.
-
-
-
-
-
(10,825)
9,500
TransMedics Group, Inc.
51,730
-
29,085
-
6,456
53,617
82,718
Total
262,566
22,811
96,520
-
(80,640)
25,870
92,218
 
 
 
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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted 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)
 
Valuation techniques used to value 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 any 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, and 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. Convertible 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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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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