N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-4118

Fidelity Securities Fund
(Exact name of registrant as specified in charter)

82 Devonshire St., Boston, Massachusetts 02109
(Address of principal executive offices) (Zip code)

Eric D. Roiter, Secretary

82 Devonshire St.

Boston, Massachusetts 02109
(Name and address of agent for service)

Registrant's telephone number, including area code: 617-563-7000

Date of fiscal year end:	November 30
Date of reporting period:	August 31, 2007

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity ® Advisor Aggressive
Growth Fund
Class A
Class T
Class B
Class C
Institutional Class

August 31, 2007

1.805754.103

AAG-QTLY-1007

Investments August 31, 2007 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.8%
	Shares		Value
CONSUMER STAPLES - 1.8%
Food Products - 1.8%
Marine Harvest ASA (a)	268,000		$ 314,461
Tyson Foods, Inc. Class A	25,100		540,905
			855,366
ENERGY - 7.9%
Energy Equipment & Services - 1.3%
FMC Technologies, Inc. (a)	6,700		634,490
Oil, Gas & Consumable Fuels - 6.6%
Denbury Resources, Inc. (a)	14,598		580,708
Gulfport Energy Corp. (a)	13,408		241,478
Quicksilver Resources, Inc. (a)	13,658		545,637
Range Resources Corp.	16,350		593,669
Valero Energy Corp.	7,400		506,974
Williams Companies, Inc.	24,155		748,805
			3,217,271
TOTAL ENERGY			3,851,761
FINANCIALS - 14.1%
Capital Markets - 3.9%
Indiabulls Financial Services Ltd.	69,055		912,039
T. Rowe Price Group, Inc.	19,549		1,003,255
			1,915,294
Commercial Banks - 1.1%
Commerce Bancorp, Inc.	14,200		521,566
Diversified Financial Services - 5.9%
CME Group, Inc.	900		499,320
Deutsche Boerse AG	8,800		971,083
IntercontinentalExchange, Inc. (a)	3,500		510,545
JSE Ltd.	40,916		407,153
MarketAxess Holdings, Inc. (a)	13,587		236,821
NYMEX Holdings, Inc.	2,000		258,040
			2,882,962
Real Estate Management & Development - 3.2%
Dev Property Development PLC	177,000		267,710
Indiabulls Real Estate Ltd. (a)	104,925		1,276,063
			1,543,773
TOTAL FINANCIALS			6,863,595
Common Stocks - continued
	Shares		Value
HEALTH CARE - 28.6%
Biotechnology - 5.3%
Alnylam Pharmaceuticals, Inc. (a)	36,600		$ 855,342
Amylin Pharmaceuticals, Inc. (a)	9,429		462,304
CytRx Corp. (a)	81,318		294,372
Omrix Biopharmaceuticals, Inc. (a)	13,127		459,576
ONYX Pharmaceuticals, Inc. (a)	12,678		502,302
			2,573,896
Health Care Equipment & Supplies - 17.1%
ArthroCare Corp. (a)	11,652		652,745
Conceptus, Inc. (a)	22,634		396,095
Cyberonics, Inc. (a)	33,972		512,637
Hologic, Inc. (a)	19,378		1,029,941
NeuroMetrix, Inc. (a)	15,606		121,259
Northstar Neuroscience, Inc. (a)	24,083		273,583
NuVasive, Inc. (a)	43,200		1,378,080
Respironics, Inc. (a)	10,100		479,043
St. Jude Medical, Inc. (a)	79,600		3,468,169
			8,311,552
Health Care Technology - 3.0%
Allscripts Healthcare Solutions, Inc. (a)	11,600		262,276
Cerner Corp. (a)	9,320		531,613
Eclipsys Corp. (a)	10,217		235,911
Merge Technologies, Inc. (a)	39,705		185,819
Vital Images, Inc. (a)	11,900		220,626
			1,436,245
Life Sciences Tools & Services - 1.4%
AMAG Pharmaceuticals, Inc.	12,596		688,371
Pharmaceuticals - 1.8%
Allergan, Inc.	9,700		582,097
Collagenex Pharmaceuticals, Inc. (a)	23,483		301,052
			883,149
TOTAL HEALTH CARE			13,893,213
INDUSTRIALS - 11.4%
Air Freight & Logistics - 1.1%
Panalpina Welttransport Holding AG	2,860		508,665
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Commercial Services & Supplies - 1.2%
Clean Harbors, Inc. (a)	5,200		$ 245,388
CoStar Group, Inc. (a)	6,373		350,706
			596,094
Construction & Engineering - 5.9%
Granite Construction, Inc.	11,300		615,172
Quanta Services, Inc. (a)	79,301		2,241,839
			2,857,011
Electrical Equipment - 1.6%
Neo-Neon Holdings Ltd.	140,000		273,633
Prysmian SpA	20,500		509,550
			783,183
Machinery - 1.1%
Bucyrus International, Inc. Class A	8,600		537,414
Marine - 0.5%
Ultrapetrol (Bahamas) Ltd.	14,181		255,542
TOTAL INDUSTRIALS			5,537,909
INFORMATION TECHNOLOGY - 32.8%
Communications Equipment - 4.4%
Adtran, Inc.	22,523		602,040
Infinera Corp.	2,800		53,928
Juniper Networks, Inc. (a)	29,400		967,848
Polycom, Inc. (a)	16,500		500,115
			2,123,931
Computers & Peripherals - 1.9%
Network Appliance, Inc. (a)	9,300		259,098
SanDisk Corp. (a)	11,852		664,423
			923,521
Internet Software & Services - 4.4%
Digital River, Inc. (a)	5,000		231,800
Omniture, Inc. (a)	19,843		492,305
SAVVIS, Inc. (a)	17,035		676,801
ValueClick, Inc. (a)	35,900		719,436
			2,120,342
IT Services - 6.3%
BearingPoint, Inc. (a)	3,000		17,610
Mastercard, Inc. Class A	16,731		2,291,980
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - continued
Redecard SA	16,700		$ 255,352
Unisys Corp. (a)	69,400		511,478
			3,076,420
Semiconductors & Semiconductor Equipment - 13.3%
Advanced Micro Devices, Inc. (a)	57,300		744,900
Altera Corp.	21,463		511,034
Broadcom Corp. Class A (a)	41,979		1,448,276
Hittite Microwave Corp. (a)	13,142		556,827
Marvell Technology Group Ltd. (a)	87,900		1,456,503
PMC-Sierra, Inc. (a)	160,993		1,236,426
Xilinx, Inc.	20,000		511,400
			6,465,366
Software - 2.5%
Financial Technology (India) Ltd.	6,552		396,885
Quality Systems, Inc.	6,341		233,666
Synchronoss Technologies, Inc. (a)	17,560		610,034
			1,240,585
TOTAL INFORMATION TECHNOLOGY			15,950,165
TELECOMMUNICATION SERVICES - 1.8%
Diversified Telecommunication Services - 1.8%
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	39,900		875,805
UTILITIES - 0.4%
Independent Power Producers & Energy Traders - 0.4%
Ocean Power Technologies, Inc. (a)	14,248		178,100
TOTAL COMMON STOCKS (Cost $44,838,141)		48,005,914
Money Market Funds - 1.6%
	Shares		Value
Fidelity Cash Central Fund, 5.48% (b) (Cost $780,198)	780,198		$ 780,198
TOTAL INVESTMENT PORTFOLIO - 100.4% (Cost $45,618,339)		48,786,112
NET OTHER ASSETS - (0.4)%			(209,707)
NET ASSETS - 100%		$ 48,576,405

Legend

(a) Non-income producing

(b) Affiliated fund that is 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.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 25,778
Fidelity Securities Lending Cash Central Fund	9,756
Total	$ 35,534

Income Tax Information

At August 31, 2007, the aggregate cost of investment securities for income tax purposes was $46,167,606. Net unrealized appreciation aggregated $2,618,506, of which $6,310,340 related to appreciated investment securities and $3,691,834 related to depreciated investment securities.

Investment Valuation

Investments are valued as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time. Security transactions are accounted for as of trade date. Wherever possible, the fund uses independent pricing services approved by the Board of Trustees to value its investments. 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 an independent pricing service on the primary market or exchange on which they are traded. 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. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day. Short-term securities with remaining maturities of sixty days or less for which quotations are not readily available are valued at amortized cost, which approximates value. When current market prices or quotations are not readily available or do not accurately reflect fair value, valuations may be determined in accordance with procedures adopted by the Board of Trustees. For example, when developments occur between the close of a market and the close of the NYSE that may materially affect the value of some or all of the securities, or when trading in a security is halted, those securities may be fair valued. The frequency of when fair value pricing is used is unpredictable. The value of securities used under fair value pricing may differ from published prices for the same securities.

For additional information on the fund's policy regarding valuation of investments and other significant accounting policies, please refer to the fund's most recent semiannual or annual shareholder report.

Quarterly 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 visit advisor.fidelity.com or call Fidelity at 1-877-208-0098 for a free copy of the fund's most recent prospectus and annual report.

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

Quarterly Report

Item 2. Controls and Procedures

(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Securities Fund's (the "Trust") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(a)(ii) There was no change in the Trust's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trust's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trust's internal control over financial reporting.

Item 3. Exhibits

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Fidelity Securities Fund

By:	/s/Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer
Date:	October 30, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer
Date:	October 30, 2007

By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer
Date:	October 30, 2007

EX-99.CERT

Exhibit EX-99.CERT

I, Kimberley Monasterio, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Securities Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 30, 2007

/s/Kimberley Monasterio

Kimberley Monasterio

President and Treasurer

I, Joseph B. Hollis, certify that:

1. I have reviewed this report on Form N-Q of Fidelity Securities Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: October 30, 2007

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer