N-Q 1 secmain.htm

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:

February 28, 2005

Item 1. Schedule of Investments

Quarterly Holdings Report

for

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

February 28, 2005

AAG-QTLY-0405

1.797931.101

Investments February 28, 2005 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.6%

Shares

Value

CONSUMER DISCRETIONARY - 15.3%

Auto Components - 0.1%

Gentex Corp.

800

$ 27,128

Hotels, Restaurants & Leisure - 4.4%

Brinker International, Inc. (a)

4,180

158,255

Carnival Corp. unit

1,500

81,570

Harrah's Entertainment, Inc.

1,260

82,643

Hilton Hotels Corp.

7,100

149,526

Mandalay Resort Group

800

56,696

Marriott International, Inc. Class A

2,190

140,379

Outback Steakhouse, Inc.

1,900

85,329

Penn National Gaming, Inc. (a)

1,900

114,684

Starbucks Corp. (a)

2,220

115,018

Station Casinos, Inc.

2,300

140,162

Sunterra Corp. (a)

1,500

24,585

The Cheesecake Factory, Inc. (a)

2,220

75,547

Wendy's International, Inc.

2,700

102,195

Yum! Brands, Inc.

8,280

403,898

1,730,487

Household Durables - 2.2%

Black & Decker Corp.

2,110

174,961

Fortune Brands, Inc.

3,800

307,800

Garmin Ltd.

1,700

87,125

Harman International Industries, Inc.

2,020

226,583

Mohawk Industries, Inc. (a)

880

78,971

875,440

Internet & Catalog Retail - 0.5%

eBay, Inc. (a)

4,600

197,064

eDiets.com, Inc. (a)

400

1,240

198,304

Leisure Equipment & Products - 0.3%

Brunswick Corp.

800

37,312

Polaris Industries, Inc.

1,000

69,790

107,102

Media - 2.1%

Cablevision Systems Corp. - NY Group Class A (a)

1,400

43,484

E.W. Scripps Co. Class A

4,400

203,104

Getty Images, Inc. (a)

1,780

126,985

Lamar Advertising Co. Class A (a)

1,110

43,612

NTL, Inc. (a)

1,582

102,656

Pixar (a)

1,470

131,462

Common Stocks - continued

Shares

Value

CONSUMER DISCRETIONARY - continued

Media - continued

Playboy Enterprises, Inc. Class B (non-vtg.) (a)

200

$ 2,780

Radio One, Inc. Class D (non-vtg.) (a)

1,000

13,670

XM Satellite Radio Holdings, Inc. Class A (a)

4,200

138,432

806,185

Multiline Retail - 1.0%

Dollar General Corp.

2,500

53,075

Dollar Tree Stores, Inc. (a)

3,560

95,942

Family Dollar Stores, Inc.

3,050

100,406

Nordstrom, Inc.

2,500

134,400

383,823

Specialty Retail - 3.9%

Abercrombie & Fitch Co. Class A

2,300

123,510

AutoZone, Inc. (a)

890

86,241

Bed Bath & Beyond, Inc. (a)

3,400

127,568

Chico's FAS, Inc. (a)

9,840

289,788

Foot Locker, Inc.

1,000

27,300

Hot Topic, Inc. (a)

4,155

88,751

Kirkland's, Inc. (a)

1,200

12,768

PETsMART, Inc.

6,960

212,280

Pier 1 Imports, Inc.

500

9,125

Ross Stores, Inc.

10,980

307,440

Weight Watchers International, Inc. (a)

3,110

133,730

Williams-Sonoma, Inc. (a)

2,470

85,684

1,504,185

Textiles, Apparel & Luxury Goods - 0.8%

Coach, Inc. (a)

5,880

326,516

TOTAL CONSUMER DISCRETIONARY

5,959,170

CONSUMER STAPLES - 1.9%

Food & Staples Retailing - 0.4%

Whole Foods Market, Inc.

1,410

144,976

Food Products - 1.2%

Bunge Ltd.

600

32,826

Del Monte Foods Co. (a)

5,490

58,139

Hershey Foods Corp.

3,980

250,740

McCormick & Co., Inc. (non-vtg.)

2,100

79,779

Smithfield Foods, Inc. (a)

1,000

34,050

455,534

Common Stocks - continued

Shares

Value

CONSUMER STAPLES - continued

Personal Products - 0.3%

Estee Lauder Companies, Inc. Class A

3,200

$ 140,736

TOTAL CONSUMER STAPLES

741,246

ENERGY - 7.2%

Energy Equipment & Services - 5.0%

Baker Hughes, Inc.

11,200

529,536

BJ Services Co.

200

9,992

Cooper Cameron Corp. (a)

4,000

230,760

ENSCO International, Inc.

2,110

84,991

Halliburton Co.

900

39,573

Nabors Industries Ltd. (a)

1,260

72,324

Noble Corp.

2,170

123,842

Patterson-UTI Energy, Inc.

7,140

178,500

Smith International, Inc.

4,430

284,672

Weatherford International Ltd. (a)

6,430

383,292

1,937,482

Oil & Gas - 2.2%

Ashland, Inc.

2,300

150,167

EOG Resources, Inc.

1,600

145,792

Pioneer Natural Resources Co.

5,670

239,104

Teekay Shipping Corp.

3,840

190,349

Valero Energy Corp.

400

28,496

XTO Energy, Inc.

2,400

109,248

863,156

TOTAL ENERGY

2,800,638

FINANCIALS - 3.9%

Capital Markets - 2.4%

Ameritrade Holding Corp. (a)

7,880

83,764

Deutsche Bank AG (NY Shares)

500

43,950

E*TRADE Financial Corp. (a)

9,400

124,738

Eaton Vance Corp. (non-vtg.)

6,420

173,083

Federated Investors, Inc. Class B (non-vtg.)

1,980

58,489

Legg Mason, Inc.

3,080

248,371

SEI Investments Co.

2,100

77,616

T. Rowe Price Group, Inc.

1,450

89,016

Waddell & Reed Financial, Inc. Class A

2,900

60,320

959,347

Common Stocks - continued

Shares

Value

FINANCIALS - continued

Commercial Banks - 0.5%

North Fork Bancorp, Inc., New York

2,100

$ 60,501

Synovus Financial Corp.

3,940

107,010

UnionBanCal Corp.

300

18,570

186,081

Thrifts & Mortgage Finance - 1.0%

Countrywide Financial Corp.

400

13,900

MGIC Investment Corp.

1,800

112,932

New York Community Bancorp, Inc.

5,073

93,140

Radian Group, Inc.

3,300

159,489

The PMI Group, Inc.

300

12,075

391,536

TOTAL FINANCIALS

1,536,964

HEALTH CARE - 27.3%

Biotechnology - 11.2%

Amylin Pharmaceuticals, Inc. (a)

2,990

64,046

Biogen Idec, Inc. (a)

16,180

625,357

Celgene Corp. (a)

6,940

189,983

Cephalon, Inc. (a)

1,240

60,847

Charles River Laboratories International, Inc. (a)

1,720

79,292

DOV Pharmaceutical, Inc. (a)

7,600

114,152

Dyax Corp. (a)

1,800

9,360

Enzon Pharmaceuticals, Inc. (a)

1,100

11,825

Genentech, Inc. (a)

27,640

1,304,605

Genzyme Corp. - General Division (a)

2,900

162,661

ImClone Systems, Inc. (a)

6,270

277,510

Invitrogen Corp. (a)

1,000

69,960

Medarex, Inc. (a)

15,500

131,130

MedImmune, Inc. (a)

5,710

137,497

Millennium Pharmaceuticals, Inc. (a)

36,680

315,448

Neurocrine Biosciences, Inc. (a)

240

9,607

ONYX Pharmaceuticals, Inc. (a)

3,400

98,396

OSI Pharmaceuticals, Inc. (a)

2,040

111,445

Pharmion Corp. (a)

8,300

280,540

Protein Design Labs, Inc. (a)

19,570

293,159

4,346,820

Health Care Equipment & Supplies - 6.0%

Advanced Medical Optics, Inc. (a)

2,000

75,900

Bausch & Lomb, Inc.

200

14,158

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Health Care Equipment & Supplies - continued

Baxter International, Inc.

7,330

$ 261,388

Beckman Coulter, Inc.

1,900

133,855

Biomet, Inc.

19,630

828,779

C.R. Bard, Inc.

4,760

316,540

Cooper Companies, Inc.

600

49,410

Cytyc Corp. (a)

3,500

79,800

DENTSPLY International, Inc.

1,650

90,701

Edwards Lifesciences Corp. (a)

3,600

154,836

Inverness Medical Innovations, Inc. (a)

1,700

40,375

ResMed, Inc. (a)

2,800

165,060

Waters Corp. (a)

2,250

109,913

2,320,715

Health Care Providers & Services - 6.0%

AmerisourceBergen Corp.

820

49,118

Andrx Corp. (a)

1,900

42,655

Cerner Corp. (a)

1,100

57,310

Covance, Inc. (a)

3,500

152,985

Coventry Health Care, Inc. (a)

1,960

123,676

DaVita, Inc. (a)

450

19,008

Health Management Associates, Inc. Class A

4,140

95,096

Henry Schein, Inc. (a)

1,500

108,510

Humana, Inc. (a)

1,400

46,578

Laboratory Corp. of America Holdings (a)

1,400

67,046

Lincare Holdings, Inc. (a)

8,200

332,756

McKesson Corp.

1,300

48,542

Medco Health Solutions, Inc. (a)

84

3,731

Omnicare, Inc.

700

24,143

PacifiCare Health Systems, Inc. (a)

600

38,088

Patterson Companies, Inc. (a)

1,800

89,316

Pharmaceutical Product Development, Inc. (a)

2,000

85,300

Quest Diagnostics, Inc.

1,100

109,340

Renal Care Group, Inc. (a)

2,100

82,740

Triad Hospitals, Inc. (a)

670

29,259

UnitedHealth Group, Inc.

1,840

167,734

WellChoice, Inc. (a)

900

46,485

WellPoint, Inc. (a)

4,300

524,858

2,344,274

Pharmaceuticals - 4.1%

Barr Pharmaceuticals, Inc. (a)

1,927

91,995

Elan Corp. PLC sponsored ADR (a)

24,520

196,160

Common Stocks - continued

Shares

Value

HEALTH CARE - continued

Pharmaceuticals - continued

Endo Pharmaceuticals Holdings, Inc. (a)

1,000

$ 22,530

Guilford Pharmaceuticals, Inc. (a)

9,400

42,582

Impax Laboratories, Inc. (a)

3,342

57,015

IVAX Corp. (a)

2,750

43,973

MGI Pharma, Inc. (a)

11,700

267,930

NitroMed, Inc. (a)

6,900

149,730

Sepracor, Inc. (a)

11,050

712,394

Watson Pharmaceuticals, Inc. (a)

950

30,153

1,614,462

TOTAL HEALTH CARE

10,626,271

INDUSTRIALS - 7.9%

Aerospace & Defense - 1.7%

EADS NV

5,180

162,835

EDO Corp.

2,800

89,040

Lockheed Martin Corp.

1,600

94,752

Precision Castparts Corp.

1,500

112,890

Rockwell Collins, Inc.

4,800

221,040

680,557

Air Freight & Logistics - 0.2%

Expeditors International of Washington, Inc.

1,000

55,510

Ryder System, Inc.

100

4,246

59,756

Airlines - 0.3%

Southwest Airlines Co.

9,000

124,650

Building Products - 0.9%

American Standard Companies, Inc.

7,190

329,302

Trex Co., Inc. (a)

600

27,306

356,608

Commercial Services & Supplies - 2.2%

Career Education Corp. (a)

1,900

64,885

Cintas Corp.

3,198

140,008

Education Management Corp. (a)

1,838

53,890

Equifax, Inc.

2,330

70,809

H&R Block, Inc.

2,390

127,387

Herman Miller, Inc.

2,130

61,727

Monster Worldwide, Inc. (a)

1,462

42,179

Common Stocks - continued

Shares

Value

INDUSTRIALS - continued

Commercial Services & Supplies - continued

Pitney Bowes, Inc.

3,450

$ 158,217

Robert Half International, Inc.

4,130

120,472

839,574

Construction & Engineering - 0.5%

Dycom Industries, Inc. (a)

2,400

64,680

Granite Construction, Inc.

2,200

58,542

Jacobs Engineering Group, Inc. (a)

1,300

72,774

195,996

Electrical Equipment - 0.3%

AMETEK, Inc.

600

23,004

Rockwell Automation, Inc.

1,300

80,795

103,799

Machinery - 0.8%

Astec Industries, Inc. (a)

2,300

42,665

Dover Corp.

2,400

92,808

ITT Industries, Inc.

1,960

172,382

SPX Corp.

500

22,260

330,115

Marine - 0.0%

Alexander & Baldwin, Inc.

100

4,540

Road & Rail - 0.7%

Burlington Northern Santa Fe Corp.

1,000

50,270

CSX Corp.

1,000

41,310

Laidlaw International, Inc. (a)

1,100

25,300

Norfolk Southern Corp.

2,900

104,081

Union Pacific Corp.

600

38,070

259,031

Trading Companies & Distributors - 0.3%

Fastenal Co.

1,624

94,939

MSC Industrial Direct Co., Inc. Class A

600

19,410

114,349

TOTAL INDUSTRIALS

3,068,975

INFORMATION TECHNOLOGY - 29.3%

Communications Equipment - 5.2%

Andrew Corp. (a)

2,100

25,410

AudioCodes Ltd. (a)

8,160

103,714

CIENA Corp. (a)

900

1,782

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Communications Equipment - continued

Corning, Inc. (a)

4,270

$ 48,977

Finisar Corp. (a)

54,600

81,354

Juniper Networks, Inc. (a)

35,100

756,054

Nokia Corp. sponsored ADR

33,300

537,462

QUALCOMM, Inc.

11,920

430,431

Tellabs, Inc. (a)

3,954

28,034

2,013,218

Computers & Peripherals - 2.5%

Apple Computer, Inc. (a)

10,000

448,600

Emulex Corp. (a)

8,000

135,200

Hutchinson Technology, Inc. (a)

500

16,330

Lexmark International, Inc. Class A (a)

3,320

266,032

Maxtor Corp. (a)

3,500

19,390

QLogic Corp. (a)

600

24,174

Seagate Technology

1,500

26,955

Western Digital Corp. (a)

4,100

46,166

982,847

Electronic Equipment & Instruments - 0.8%

KEMET Corp. (a)

2,700

22,059

Molex, Inc.

100

2,513

Sanmina-SCI Corp. (a)

3,900

21,645

Solectron Corp. (a)

23,300

115,335

Symbol Technologies, Inc.

7,770

137,762

299,314

Internet Software & Services - 1.0%

Interwoven, Inc. (a)

219

1,986

Lastminute.com PLC (a)

500

1,014

VeriSign, Inc. (a)

1,700

46,614

Vignette Corp. (a)

6,436

7,659

Yahoo!, Inc. (a)

10,880

351,098

408,371

IT Services - 1.9%

Computer Sciences Corp. (a)

600

27,738

CSG Systems International, Inc. (a)

65

1,112

DST Systems, Inc. (a)

1,600

75,984

Fiserv, Inc. (a)

3,270

124,064

Infosys Technologies Ltd. sponsored ADR

4,420

337,025

Iron Mountain, Inc. (a)

1,605

43,415

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

IT Services - continued

SunGard Data Systems, Inc. (a)

3,310

$ 86,424

The BISYS Group, Inc. (a)

2,580

38,236

733,998

Office Electronics - 1.2%

Xerox Corp. (a)

1,800

28,080

Zebra Technologies Corp. Class A (a)

9,300

463,791

491,871

Semiconductors & Semiconductor Equipment - 12.4%

Advanced Micro Devices, Inc. (a)

13,000

226,850

Agere Systems, Inc.:

Class A (a)

20,030

32,849

Class B (a)

15,700

25,434

Altera Corp. (a)

11,200

232,288

Analog Devices, Inc.

900

33,048

Broadcom Corp. Class A (a)

7,900

254,775

Brooks Automation, Inc. (a)

4,300

77,873

Conexant Systems, Inc. (a)

17,650

31,770

Cree, Inc. (a)

1,100

25,872

Cypress Semiconductor Corp. (a)

3,000

42,240

DuPont Photomasks, Inc. (a)

100

2,634

Freescale Semiconductor, Inc. Class B (a)

2,314

44,383

Integrated Circuit Systems, Inc. (a)

6,700

135,206

Integrated Device Technology, Inc. (a)

6,990

87,445

Intel Corp.

12,800

306,944

Intersil Corp. Class A

9,400

158,484

KLA-Tencor Corp.

40

1,976

Lam Research Corp. (a)

5,180

162,859

Linear Technology Corp.

4,000

156,240

Maxim Integrated Products, Inc.

5,500

236,610

Microchip Technology, Inc.

24,870

682,930

National Semiconductor Corp.

8,100

161,595

Novellus Systems, Inc. (a)

4,100

121,094

NVIDIA Corp. (a)

34,734

1,006,939

Photronics, Inc. (a)

8,200

152,356

PMC-Sierra, Inc. (a)

27,030

268,949

Portalplayer, Inc.

3,100

71,362

Rambus, Inc. (a)

800

14,056

Silicon Laboratories, Inc. (a)

380

13,338

Common Stocks - continued

Shares

Value

INFORMATION TECHNOLOGY - continued

Semiconductors & Semiconductor Equipment - continued

Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR

136

$ 1,240

Varian Semiconductor Equipment Associates, Inc. (a)

1,200

47,808

4,817,447

Software - 4.3%

Adobe Systems, Inc.

6,120

377,910

BEA Systems, Inc. (a)

9,250

76,775

Citrix Systems, Inc. (a)

5,170

116,325

Cognos, Inc. (a)

700

30,061

Concord Communications, Inc. (a)

100

1,031

FileNET Corp. (a)

1,898

44,451

Jack Henry & Associates, Inc.

1,690

33,547

Macrovision Corp. (a)

700

16,975

Mercury Interactive Corp. (a)

6,600

302,808

Parametric Technology Corp. (a)

15,700

90,275

Siebel Systems, Inc. (a)

21,219

180,998

TIBCO Software, Inc. (a)

1,800

17,568

VERITAS Software Corp. (a)

15,600

377,832

1,666,556

TOTAL INFORMATION TECHNOLOGY

11,413,622

MATERIALS - 3.7%

Chemicals - 1.3%

Dow Chemical Co.

1,800

99,270

Ferro Corp.

1,600

31,312

International Flavors & Fragrances, Inc.

1,200

49,548

Monsanto Co.

2,000

117,560

Potash Corp. of Saskatchewan

900

79,708

Praxair, Inc.

3,000

134,490

511,888

Construction Materials - 0.1%

Vulcan Materials Co.

800

46,288

Containers & Packaging - 0.8%

Owens-Illinois, Inc. (a)

3,410

84,875

Pactiv Corp. (a)

2,000

45,220

Sealed Air Corp. (a)

3,370

176,150

306,245

Metals & Mining - 1.5%

Freeport-McMoRan Copper & Gold, Inc. Class B

3,050

127,551

Common Stocks - continued

Shares

Value

MATERIALS - continued

Metals & Mining - continued

Massey Energy Co.

3,200

$ 139,456

Metal Management, Inc.

2,451

72,623

Nucor Corp.

1,200

74,808

Phelps Dodge Corp.

1,600

170,320

584,758

TOTAL MATERIALS

1,449,179

TELECOMMUNICATION SERVICES - 1.8%

Diversified Telecommunication Services - 0.4%

Philippine Long Distance Telephone Co. sponsored ADR (a)

1,000

25,480

Sprint Corp.

5,300

125,504

150,984

Wireless Telecommunication Services - 1.4%

Alamosa Holdings, Inc. (a)

12,300

156,702

America Movil SA de CV sponsored ADR

3,400

199,580

InPhonic, Inc.

3,500

80,710

NII Holdings, Inc. (a)

500

28,610

USA Mobility, Inc. (a)

1,700

66,708

532,310

TOTAL TELECOMMUNICATION SERVICES

683,294

UTILITIES - 0.3%

Multi-Utilities & Unregulated Power - 0.3%

AES Corp. (a)

7,400

123,876

TOTAL COMMON STOCKS

(Cost $34,774,030)

38,403,235

Money Market Funds - 1.6%

Shares

Value

Fidelity Cash Central Fund, 2.51% (b)(c)
(Cost $639,442)

639,442

$ 639,442

TOTAL INVESTMENT PORTFOLIO - 100.2%

(Cost $35,413,472)

39,042,677

NET OTHER ASSETS - (0.2)%

(95,209)

NET ASSETS - 100%

$ 38,947,468

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 listing of the fund's holdings as of its most recent quarter end is available upon request.

(c) Includes investment made with cash collateral received from securities on loan.

Income Tax Information

At February 28, 2005, the aggregate cost of investment securities for income tax purposes was $35,473,420. Net unrealized appreciation aggregated $3,569,257, of which $6,637,742 related to appreciated investment securities and $3,068,485 related to depreciated investment securities.

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 Corp.

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

April 20, 2005

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/Christine Reynolds

Christine Reynolds

President and Treasurer

Date:

April 20, 2005

By:

/s/Timothy F. Hayes

Timothy F. Hayes

Chief Financial Officer

Date:

April 20, 2005