NPORT-EX 2 QTLY_223_20230831.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity Advisor® Growth Opportunities Fund
August 31, 2023
GO-NPRT3-1023
1.805740.119
Common Stocks - 96.6%
 
  
Shares
Value ($)
(000s)
 
COMMUNICATION SERVICES - 19.9%
 
  
  
Entertainment - 3.5%
  
  
  
Netflix, Inc. (a)
  
206,900
89,728
Roku, Inc. Class A (a)(b)
  
4,661,920
378,548
Sea Ltd. ADR (a)
  
3,308,884
124,513
 
  
  
592,789
Interactive Media & Services - 12.6%
  
  
  
Alphabet, Inc.:
  
  
  
 Class A (a)
  
2,774,860
377,853
 Class C (a)
  
6,588,680
904,955
Epic Games, Inc. (a)(c)(d)
  
56,200
34,999
Meta Platforms, Inc. Class A (a)
  
2,174,885
643,527
Snap, Inc. Class A (a)
  
10,123,400
104,777
Zoominfo Technologies, Inc. (a)
  
4,284,700
77,210
 
  
  
2,143,321
Media - 0.2%
  
  
  
Innovid Corp. (a)
  
11,484
13
Magnite, Inc. (a)(b)
  
3,446,831
28,436
TechTarget, Inc. (a)
  
2,905
84
The Trade Desk, Inc. (a)
  
22,210
1,777
 
  
  
30,310
Wireless Telecommunication Services - 3.6%
  
  
  
T-Mobile U.S., Inc. (a)
  
4,420,925
602,351
TOTAL COMMUNICATION SERVICES
  
  
3,368,771
CONSUMER DISCRETIONARY - 7.4%
 
  
  
Automobiles - 0.0%
  
  
  
Neutron Holdings, Inc. (a)(c)(d)
  
474,927
14
Rad Power Bikes, Inc. (a)(c)(d)
  
382,384
256
Tesla, Inc. (a)
  
6,940
1,791
 
  
  
2,061
Broadline Retail - 4.7%
  
  
  
Amazon.com, Inc. (a)
  
5,713,740
788,553
Hotels, Restaurants & Leisure - 0.0%
  
  
  
Sonder Holdings, Inc.:
  
  
  
 Stage 1 rights (a)(d)
  
15,489
0
 Stage 2 rights (a)(d)
  
15,488
0
 Stage 3 rights (a)(d)
  
15,488
0
 Stage 4 rights (a)(d)
  
15,488
0
 Stage 5:
 
 
 
 rights (a)(d)
  
15,488
0
 rights (a)(d)
  
15,488
0
 
  
  
0
Household Durables - 0.0%
  
  
  
D.R. Horton, Inc.
 
13,500
1,607
Lennar Corp. Class A
 
19,600
2,334
 
  
  
3,941
Leisure Products - 0.0%
  
  
  
Peloton Interactive, Inc. Class A (a)(b)
  
349,300
2,229
Specialty Retail - 2.3%
  
  
  
Auto1 Group SE (a)(b)(e)
  
6,301,479
52,915
Carvana Co. Class A (a)(b)
  
1,909,300
96,133
Cazoo Group Ltd. Class A (a)(b)
  
622,670
704
Floor & Decor Holdings, Inc. Class A (a)(b)
  
1,260,400
125,662
Lowe's Companies, Inc.
 
328,600
75,736
RH (a)
  
29,000
10,591
Wayfair LLC Class A (a)
  
433,529
29,961
 
  
  
391,702
Textiles, Apparel & Luxury Goods - 0.4%
  
  
  
Bombas LLC (a)(c)(d)
  
5,086,874
13,633
lululemon athletica, Inc. (a)
  
133,410
50,864
 
  
  
64,497
TOTAL CONSUMER DISCRETIONARY
  
  
1,252,983
CONSUMER STAPLES - 0.6%
 
  
  
Beverages - 0.2%
  
  
  
Boston Beer Co., Inc. Class A (a)
  
44,300
16,189
The Coca-Cola Co.
 
285,000
17,052
 
  
  
33,241
Consumer Staples Distribution & Retail - 0.4%
  
  
  
BJ's Wholesale Club Holdings, Inc. (a)
  
983,200
66,258
Food Products - 0.0%
  
  
  
Local Bounti Corp. (a)(b)
  
250,334
781
Tobacco - 0.0%
  
  
  
JUUL Labs, Inc. Class B (a)(c)(d)
  
2,772
18
TOTAL CONSUMER STAPLES
  
  
100,298
ENERGY - 2.1%
 
  
  
Oil, Gas & Consumable Fuels - 2.1%
  
  
  
Antero Resources Corp. (a)
  
3,103,347
85,870
Canadian Natural Resources Ltd.
 
740,700
47,922
Exxon Mobil Corp.
 
60,900
6,771
Hess Corp.
 
514,445
79,482
Ovintiv, Inc.
 
1,687,100
79,226
Tourmaline Oil Corp. (b)
  
1,289,400
66,121
 
  
  
365,392
FINANCIALS - 9.1%
 
  
  
Banks - 0.2%
  
  
  
Starling Bank Ltd. Series D (a)(c)(d)
  
6,988,700
28,685
Capital Markets - 0.7%
  
  
  
LPL Financial
 
516,800
119,169
Financial Services - 8.2%
  
  
  
Apollo Global Management, Inc.
 
204,000
17,817
Block, Inc. Class A (a)
  
4,818,800
277,804
Dlocal Ltd. (a)(b)
  
5,981,317
128,239
Fiserv, Inc. (a)
  
1,253,400
152,150
FleetCor Technologies, Inc. (a)
  
13,400
3,641
Global Payments, Inc.
 
1,454,400
184,258
Marqeta, Inc. Class A (a)
  
21,792,352
134,023
MasterCard, Inc. Class A
 
255,112
105,269
Payoneer Global, Inc. (a)(c)
  
442,000
2,736
Rapyd Financial Network 2016 Ltd. (a)(c)(d)
  
340,545
23,307
Repay Holdings Corp. (a)(f)
  
6,078,427
56,043
Shift4 Payments, Inc. (a)(b)
  
896,000
50,884
Visa, Inc. Class A
 
1,074,061
263,875
 
  
  
1,400,046
TOTAL FINANCIALS
  
  
1,547,900
HEALTH CARE - 9.7%
 
  
  
Biotechnology - 1.6%
  
  
  
Alnylam Pharmaceuticals, Inc. (a)
  
46,635
9,225
ALX Oncology Holdings, Inc. (a)
  
653,300
2,783
Argenx SE ADR (a)
  
100,199
50,349
Ascendis Pharma A/S sponsored ADR (a)
  
67,662
6,632
Celldex Therapeutics, Inc. (a)
  
804,000
22,432
Cytokinetics, Inc. (a)
  
1,015,500
35,482
Icosavax, Inc. (a)
  
1,734,129
13,422
Keros Therapeutics, Inc. (a)
  
277,800
9,754
Moderna, Inc. (a)
  
8,200
927
Nuvalent, Inc. Class A (a)
  
283,376
12,913
Regeneron Pharmaceuticals, Inc. (a)
  
20,700
17,108
Repligen Corp. (a)
  
66,600
11,582
Vaxcyte, Inc. (a)
  
1,123,743
58,345
Zentalis Pharmaceuticals, Inc. (a)
  
886,900
23,556
 
  
  
274,510
Health Care Equipment & Supplies - 2.4%
  
  
  
Blink Health LLC Series A1 (a)(c)(d)
  
56,119
2,682
Boston Scientific Corp. (a)
  
4,769,874
257,287
Insulet Corp. (a)
  
106,210
20,362
Penumbra, Inc. (a)
  
213,663
56,514
TransMedics Group, Inc. (a)
  
989,317
64,929
 
  
  
401,774
Health Care Providers & Services - 4.3%
  
  
  
agilon health, Inc. (a)(b)
  
6,994,076
123,935
Alignment Healthcare, Inc. (a)
  
986,100
5,759
Centene Corp. (a)
  
1,400,934
86,368
Humana, Inc.
 
363,860
167,969
P3 Health Partners, Inc. Class A (a)
  
1,631,654
3,231
UnitedHealth Group, Inc.
 
720,667
343,455
 
  
  
730,717
Life Sciences Tools & Services - 0.8%
  
  
  
10X Genomics, Inc. (a)
  
292,300
15,156
Danaher Corp.
 
259,400
68,741
Thermo Fisher Scientific, Inc.
 
111,700
62,228
 
  
  
146,125
Pharmaceuticals - 0.6%
  
  
  
Eli Lilly & Co.
 
176,400
97,761
TOTAL HEALTH CARE
  
  
1,650,887
INDUSTRIALS - 5.3%
 
  
  
Aerospace & Defense - 0.5%
  
  
  
Space Exploration Technologies Corp. Class A (a)(c)(d)
  
85,000
6,885
The Boeing Co. (a)
  
338,900
75,924
 
  
  
82,809
Commercial Services & Supplies - 0.3%
  
  
  
ACV Auctions, Inc. Class A (a)
  
2,649,200
44,533
Electrical Equipment - 1.3%
  
  
  
Bloom Energy Corp. Class A (a)(b)
  
1,340,400
20,093
Eaton Corp. PLC
 
114,900
26,470
Nextracker, Inc. Class A
 
59,400
2,502
Sunrun, Inc. (a)
  
88,600
1,385
Vertiv Holdings Co.
 
4,371,700
172,201
 
  
  
222,651
Ground Transportation - 3.2%
  
  
  
Bird Global, Inc.:
  
  
  
 Stage 1 rights (a)(d)
  
4,240
0
 Stage 2 rights (a)(d)
  
4,240
0
 Stage 3 rights (a)(d)
  
4,240
0
Lyft, Inc. (a)
  
6,379,653
75,152
Uber Technologies, Inc. (a)
  
10,085,881
476,356
 
  
  
551,508
TOTAL INDUSTRIALS
  
  
901,501
INFORMATION TECHNOLOGY - 40.9%
 
  
  
Communications Equipment - 0.3%
  
  
  
Lumentum Holdings, Inc. (a)
  
916,500
49,610
Electronic Equipment, Instruments & Components - 2.8%
  
  
  
Coherent Corp. (a)
  
654,600
24,633
Flex Ltd. (a)
  
11,980,499
330,542
Jabil, Inc.
 
1,054,100
120,610
 
  
  
475,785
IT Services - 2.1%
  
  
  
EPAM Systems, Inc. (a)
  
643,437
166,644
Globant SA (a)
  
31,200
6,379
MongoDB, Inc. Class A (a)
  
443,900
169,259
Snowflake, Inc. (a)
  
54,500
8,548
 
  
  
350,830
Semiconductors & Semiconductor Equipment - 17.2%
  
  
  
Advanced Micro Devices, Inc. (a)
  
2,988,700
315,965
Applied Materials, Inc.
 
273,901
41,841
GlobalFoundries, Inc. (a)
  
1,172,100
64,759
Marvell Technology, Inc.
 
4,421,379
257,545
NVIDIA Corp.
 
2,960,572
1,461,190
NXP Semiconductors NV
 
1,559,767
320,875
ON Semiconductor Corp. (a)
  
3,567,961
351,301
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
1,103,500
103,254
 
  
  
2,916,730
Software - 16.8%
  
  
  
Adobe, Inc. (a)
  
101,000
56,493
Autodesk, Inc. (a)
  
37,500
8,323
Bill Holdings, Inc. (a)
  
516,800
59,587
Convoy, Inc. warrants (a)(c)(d)
  
68,035
178
Datadog, Inc. Class A (a)
  
992,400
95,747
DoubleVerify Holdings, Inc. (a)
  
1,350,745
45,669
Dynatrace, Inc. (a)
  
2,721,464
131,175
Elastic NV (a)
  
1,088,640
67,365
Five9, Inc. (a)
  
599,000
43,350
HubSpot, Inc. (a)
  
160,549
87,743
Intapp, Inc. (a)
  
1,473,769
53,955
Intuit, Inc.
 
166,208
90,053
Microsoft Corp.
 
4,982,815
1,633,166
Oracle Corp.
 
1,188,500
143,084
Palo Alto Networks, Inc. (a)
  
215,000
52,310
Pine Labs Private Ltd. (a)(c)(d)
  
16,636
8,293
Salesforce, Inc. (a)
  
527,638
116,851
ServiceNow, Inc. (a)
  
261,658
154,072
Stripe, Inc. Class B (a)(c)(d)
  
73,500
1,364
 
  
  
2,848,778
Technology Hardware, Storage & Peripherals - 1.7%
  
  
  
Apple, Inc.
 
1,401,060
263,217
Pure Storage, Inc. Class A (a)
  
750,200
27,450
 
  
  
290,667
TOTAL INFORMATION TECHNOLOGY
  
  
6,932,400
UTILITIES - 1.6%
 
  
  
Electric Utilities - 1.2%
  
  
  
Constellation Energy Corp.
 
657,233
68,457
PG&E Corp. (a)
  
7,795,900
127,073
 
  
  
195,530
Independent Power and Renewable Electricity Producers - 0.4%
  
  
  
NextEra Energy Partners LP
 
1,468,300
73,239
TOTAL UTILITIES
  
  
268,769
 
TOTAL COMMON STOCKS
 (Cost $10,271,167)
  
  
  
16,388,901
 
  
  
  
Preferred Stocks - 3.0%
 
  
Shares
Value ($)
(000s)
 
Convertible Preferred Stocks - 2.4%
 
  
  
COMMUNICATION SERVICES - 0.3%
  
  
  
Interactive Media & Services - 0.3%
  
  
  
ByteDance Ltd. Series E1 (a)(c)(d)
  
116,411
26,319
Reddit, Inc. Series F (a)(c)(d)
  
793,873
28,381
 
  
  
54,700
CONSUMER DISCRETIONARY - 0.1%
  
  
  
Automobiles - 0.0%
  
  
  
Rad Power Bikes, Inc.:
  
  
  
  Series A(a)(c)(d)
  
49,852
33
  Series C(a)(c)(d)
  
196,163
314
  Series D(a)(c)(d)
  
415,700
1,048
 
  
  
1,395
Broadline Retail - 0.1%
  
  
  
Meesho Series F (a)(c)(d)
  
243,800
19,114
 
  
  
  
TOTAL CONSUMER DISCRETIONARY
  
  
20,509
 
  
  
  
CONSUMER STAPLES - 0.2%
  
  
  
Consumer Staples Distribution & Retail - 0.2%
  
  
  
GoBrands, Inc. Series G (a)(c)(d)
  
70,400
5,570
Instacart, Inc.:
  
  
  
  Series H(a)(c)(d)
  
267,054
11,579
  Series I(a)(c)(d)
  
90,554
3,926
 
  
  
21,075
Food Products - 0.0%
  
  
  
Bowery Farming, Inc. Series C1 (a)(c)(d)
  
404,785
2,020
 
  
  
  
Tobacco - 0.0%
  
  
  
JUUL Labs, Inc.:
  
  
  
  Series C(a)(c)(d)
  
566,439
3,603
  Series D(a)(c)(d)
  
3,671
23
 
  
  
3,626
TOTAL CONSUMER STAPLES
  
  
26,721
 
  
  
  
FINANCIALS - 0.0%
  
  
  
Financial Services - 0.0%
  
  
  
Circle Internet Financial Ltd. Series F (a)(c)(d)
  
155,650
3,348
 
  
  
  
HEALTH CARE - 0.1%
  
  
  
Health Care Equipment & Supplies - 0.1%
  
  
  
Blink Health LLC Series C (a)(c)(d)
  
234,164
11,193
 
  
  
  
Health Care Technology - 0.0%
  
  
  
Aledade, Inc. Series E1 (a)(c)(d)
  
153,312
7,684
 
  
  
  
TOTAL HEALTH CARE
  
  
18,877
 
  
  
  
INDUSTRIALS - 0.8%
  
  
  
Aerospace & Defense - 0.5%
  
  
  
Relativity Space, Inc. Series E (a)(c)(d)
  
1,068,417
22,597
Space Exploration Technologies Corp.:
  
  
  
  Series I(a)(c)(d)
  
16,438
13,315
  Series N(a)(c)(d)
  
51,400
41,634
 
  
  
77,546
Construction & Engineering - 0.3%
  
  
  
Beta Technologies, Inc. Series A (a)(c)(d)
  
441,839
50,056
 
  
  
  
TOTAL INDUSTRIALS
  
  
127,602
 
  
  
  
INFORMATION TECHNOLOGY - 0.8%
  
  
  
Electronic Equipment, Instruments & Components - 0.1%
  
  
  
CelLink Corp. Series D (a)(c)(d)
  
380,829
4,696
Enevate Corp. Series E (a)(c)(d)
  
7,873,996
6,614
 
  
  
11,310
IT Services - 0.0%
  
  
  
Yanka Industries, Inc.:
  
  
  
  Series E(a)(c)(d)
  
341,047
2,415
  Series F(a)(c)(d)
  
380,955
2,697
 
  
  
5,112
Semiconductors & Semiconductor Equipment - 0.1%
  
  
  
GaN Systems, Inc.:
  
  
  
  Series F1(a)(c)(d)
  
339,534
3,759
  Series F2(a)(c)(d)
  
179,288
1,985
SiMa.ai:
  
  
  
  Series B(a)(c)(d)
  
1,198,500
7,395
  Series B1(a)(c)(d)
  
171,099
1,232
Xsight Labs Ltd. Series D (a)(c)(d)
  
501,100
2,881
 
  
  
17,252
Software - 0.6%
  
  
  
Bolt Technology OU Series E (a)(c)(d)
  
290,611
37,519
Convoy, Inc. Series D (a)(c)(d)
  
1,038,289
6,032
Databricks, Inc.:
  
  
  
  Series G(a)(c)(d)
  
181,200
13,318
  Series H(a)(c)(d)
  
32,352
2,378
Moloco, Inc. Series A (c)(d)
  
265,144
15,909
Mountain Digital, Inc. Series D (a)(c)(d)
  
896,466
12,846
Skyryse, Inc. Series B (a)(c)(d)
  
244,100
5,634
Stripe, Inc. Series H (a)(c)(d)
  
165,183
3,066
Tenstorrent, Inc. Series C1 (a)(c)(d)
  
32,900
1,829
 
  
  
98,531
TOTAL INFORMATION TECHNOLOGY
  
  
132,205
 
  
  
  
MATERIALS - 0.1%
  
  
  
Metals & Mining - 0.1%
  
  
  
Diamond Foundry, Inc. Series C (a)(c)(d)
  
674,317
22,414
 
  
  
  
TOTAL CONVERTIBLE PREFERRED STOCKS
  
  
406,376
Nonconvertible Preferred Stocks - 0.6%
 
  
  
CONSUMER DISCRETIONARY - 0.0%
  
  
  
Automobiles - 0.0%
  
  
  
Neutron Holdings, Inc. Series 1C (a)(c)(d)
  
6,477,300
186
Waymo LLC Series A2 (a)(c)(d)
  
47,838
2,874
 
  
  
3,060
FINANCIALS - 0.3%
  
  
  
Financial Services - 0.3%
  
  
  
Circle Internet Financial Ltd. Series E (a)(c)(d)
  
1,497,818
32,218
Thriveworks TopCo LLC Series B (a)(c)(d)(g)
  
764,320
10,204
 
  
  
42,422
INFORMATION TECHNOLOGY - 0.3%
  
  
  
IT Services - 0.0%
  
  
  
Gupshup, Inc. (a)(c)(d)
  
509,400
6,368
 
  
  
  
Software - 0.3%
  
  
  
Pine Labs Private Ltd.:
  
  
  
  Series 1(a)(c)(d)
  
39,764
19,823
  Series A(a)(c)(d)
  
9,936
4,953
  Series B(a)(c)(d)
  
10,808
5,388
  Series B2(a)(c)(d)
  
8,745
4,359
  Series C(a)(c)(d)
  
16,265
8,108
  Series C1(a)(c)(d)
  
3,427
1,708
  Series D(a)(c)(d)
  
3,667
1,828
 
  
  
46,167
TOTAL INFORMATION TECHNOLOGY
  
  
52,535
 
  
  
  
TOTAL NONCONVERTIBLE PREFERRED STOCKS
  
  
98,017
 
TOTAL PREFERRED STOCKS
 (Cost $567,944)
  
  
  
504,393
 
  
  
  
Convertible Bonds - 0.1%
 
  
Principal
Amount (h)
(000s)
 
Value ($)
(000s)
 
CONSUMER DISCRETIONARY - 0.1%
 
  
  
Automobiles - 0.1%
  
  
  
Neutron Holdings, Inc.:
  
  
  
 4% 5/22/27 (c)(d)
  
843
989
 4% 6/12/27 (c)(d)
  
232
272
 4.5% 10/27/25 (c)(d)(i)
  
13,144
13,191
 
  
  
14,452
INFORMATION TECHNOLOGY - 0.0%
 
  
  
Software - 0.0%
  
  
  
Convoy, Inc. 15% 9/30/26 (c)(d)
  
453
483
 
TOTAL CONVERTIBLE BONDS
 (Cost $14,672)
  
  
  
14,935
 
  
  
  
Preferred Securities - 0.0%
 
  
Principal
Amount (h)
(000s)
 
Value ($)
(000s)
 
INFORMATION TECHNOLOGY - 0.0%
 
  
  
Semiconductors & Semiconductor Equipment - 0.0%
  
  
  
GaN Systems, Inc. 0% (c)(d)(j)
  
7,958
9,794
Software - 0.0%
  
  
  
Tenstorrent, Inc. 0% (c)(d)(j)
  
1,830
1,711
 
TOTAL PREFERRED SECURITIES
 (Cost $9,788)
  
  
  
11,505
 
  
  
  
Money Market Funds - 1.8%
 
  
Shares
Value ($)
(000s)
 
Fidelity Cash Central Fund 5.43% (k)
  
31,291,325
31,298
Fidelity Securities Lending Cash Central Fund 5.44% (k)(l)
  
269,324,733
269,352
 
TOTAL MONEY MARKET FUNDS
 (Cost $300,650)
  
  
300,650
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 101.5%
 (Cost $11,164,221)
 
  
 
17,220,384
NET OTHER ASSETS (LIABILITIES) - (1.5)%  
(255,667)
NET ASSETS - 100.0%
16,964,717
 
  
 
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 $653,883,000 or 3.9% 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 $52,915,000 or 0.3% 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
 
  
  
Convoy, Inc. warrants
3/24/23
0
 
  
  
Convoy, Inc. 15% 9/30/26
3/24/23
453
 
  
  
Databricks, Inc. Series G
2/01/21
10,713
 
  
  
Databricks, Inc. Series H
8/31/21
2,377
 
  
  
Diamond Foundry, Inc. Series C
3/15/21
16,184
 
  
  
Enevate Corp. Series E
1/29/21
8,730
 
  
  
Epic Games, Inc.
7/13/20 - 3/29/21
45,615
 
  
  
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
 
  
  
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
 
  
  
Moloco, Inc. Series A
6/26/23
15,909
 
  
  
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% 5/22/27
6/04/20
843
 
  
  
Neutron Holdings, Inc. 4% 6/12/27
6/12/20
232
 
  
  
Neutron Holdings, Inc. 4.5% 10/27/25
10/29/21 - 4/27/23
13,145
 
  
  
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 - 10/17/22
1,213
 
  
  
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 - 5/25/23
6,628
 
  
  
Tenstorrent, Inc. Series C1
4/23/21
1,956
 
  
  
Tenstorrent, Inc. 0%
4/23/21
1,830
 
  
  
Thriveworks TopCo LLC Series B
7/23/21 - 2/25/22
21,989
 
  
  
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 5.43%
4,561
1,484,570
1,457,833
984
-
-
31,298
0.1%
Fidelity Securities Lending Cash Central Fund 5.44%
168,941
1,584,886
1,484,475
1,889
-
-
269,352
1.0%
Total
173,502
3,069,456
2,942,308
2,873
-
-
300,650
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Amounts in the dividend income column 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 presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.
Affiliate (Amounts in thousands)
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
P3 Health Partners, Inc.
9,715
-
-
-
-
10,610
-
P3 Health Partners, Inc. Class A
-
-
416
-
(3,592)
(13,086)
-
Repay Holdings Corp.
46,202
5,417
-
-
-
4,424
56,043
Total
55,917
5,417
416
-
(3,592)
1,948
56,043
 
 
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For 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 services or from brokers who make markets in such securities. Convertible Bonds and Preferred Securities are valued by pricing services 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 services. 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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