0000719451-12-000170.txt : 20120430 0000719451-12-000170.hdr.sgml : 20120430 20120430125751 ACCESSION NUMBER: 0000719451-12-000170 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120229 FILED AS OF DATE: 20120430 DATE AS OF CHANGE: 20120430 EFFECTIVENESS DATE: 20120430 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY SECURITIES FUND CENTRAL INDEX KEY: 0000754510 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-04118 FILM NUMBER: 12793564 BUSINESS ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 82 DEVONSHIRE STREET CITY: BOSTON STATE: MA ZIP: 02109

0000754510 S000007190 Advisor Growth Strategies Fund

C000019674 Class A FGVAX

C000019675 Class B FGVBX

C000019676 Class C FGECX

C000019677 Class T FGVTX

C000019678 Institutional Class FRVIX

N-Q 1 sec.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)

Scott C. Goebel, 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 29, 2012

Item 1. Schedule of Investments

Quarterly Holdings Report

for

Fidelity Advisor® Growth
Strategies Fund

Class A
Class T
Class B
Class C
Institutional Class

February 29, 2012

1.797931.108

AAG-QTLY-0412

Investments February 29, 2012 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 98.8%
	Shares		Value
CONSUMER DISCRETIONARY - 18.0%
Automobiles - 0.8%
Tesla Motors, Inc. (a)	8,219		$ 274,597
Diversified Consumer Services - 0.5%
Weight Watchers International, Inc.	2,315		180,524
Hotels, Restaurants & Leisure - 2.3%
BJ's Restaurants, Inc. (a)	3,489		173,229
Buffalo Wild Wings, Inc. (a)	2,500		216,225
Panera Bread Co. Class A (a)	1,429		220,895
Texas Roadhouse, Inc. Class A	11,300		189,049
			799,398
Media - 1.1%
Discovery Communications, Inc. (a)	7,987		372,594
Multiline Retail - 1.1%
Dollar Tree, Inc. (a)	4,324		382,717
Specialty Retail - 4.7%
Abercrombie & Fitch Co. Class A	4,973		227,714
Body Central Corp. (a)	13,011		362,226
Limited Brands, Inc.	9,635		448,317
Tractor Supply Co.	4,338		370,769
Ulta Salon, Cosmetics & Fragrance, Inc. (a)	2,700		224,748
			1,633,774
Textiles, Apparel & Luxury Goods - 7.5%
Liz Claiborne, Inc. (a)(d)	43,867		429,019
Michael Kors Holdings Ltd.	8,900		384,925
PVH Corp.	5,248		446,132
Ralph Lauren Corp.	3,194		554,894
Under Armour, Inc. Class A (sub. vtg.) (a)	4,624		412,646
Warnaco Group, Inc. (a)	6,400		375,744
			2,603,360
TOTAL CONSUMER DISCRETIONARY			6,246,964
CONSUMER STAPLES - 4.9%
Beverages - 1.9%
Dr Pepper Snapple Group, Inc.	8,700		331,035
Monster Beverage Corp. (a)	5,434		310,770
			641,805
Food & Staples Retailing - 1.0%
Whole Foods Market, Inc.	4,321		348,878
Common Stocks - continued
	Shares		Value
CONSUMER STAPLES - continued
Food Products - 1.5%
Green Mountain Coffee Roasters, Inc. (a)(d)	6,081		$ 395,083
Origin Agritech Ltd. (a)	46,686		112,980
			508,063
Tobacco - 0.5%
Lorillard, Inc.	1,431		187,575
TOTAL CONSUMER STAPLES			1,686,321
ENERGY - 15.6%
Energy Equipment & Services - 4.7%
Cameron International Corp. (a)	6,100		339,831
Dresser-Rand Group, Inc. (a)	3,367		176,835
Heckmann Corp. (a)(d)	146,530		747,303
Rowan Companies, Inc. (a)	9,900		365,013
			1,628,982
Oil, Gas & Consumable Fuels - 10.9%
Alpha Natural Resources, Inc. (a)	9,534		176,951
Amyris, Inc. (a)(d)	11,864		63,828
Bumi PLC	22,183		275,958
Cabot Oil & Gas Corp.	10,916		380,750
Cobalt International Energy, Inc. (a)	14,100		423,846
EV Energy Partners LP	5,438		386,859
EXCO Resources, Inc. (d)	27,418		195,490
Genel Energy PLC	5,500		70,695
Oasis Petroleum, Inc. (a)	11,766		377,336
Plains Exploration & Production Co. (a)	8,250		363,578
QEP Resources, Inc.	11,900		406,266
Range Resources Corp.	4,700		299,296
SM Energy Co.	2,200		173,184
Solazyme, Inc. (d)	13,546		186,664
			3,780,701
TOTAL ENERGY			5,409,683
FINANCIALS - 1.2%
Real Estate Management & Development - 1.2%
Altisource Portfolio Solutions SA (a)	6,635		427,559
Common Stocks - continued
	Shares		Value
HEALTH CARE - 16.5%
Biotechnology - 8.1%
Alexion Pharmaceuticals, Inc. (a)	4,749		$ 397,634
Human Genome Sciences, Inc. (a)(d)	46,738		368,295
Idenix Pharmaceuticals, Inc. (a)(d)	61,365		722,266
InterMune, Inc. (a)	19,600		263,032
Theravance, Inc. (a)	11,250		210,375
Threshold Pharmaceuticals, Inc. (a)	24,900		129,231
United Therapeutics Corp. (a)	7,500		357,975
Vertex Pharmaceuticals, Inc. (a)	9,100		354,172
			2,802,980
Health Care Equipment & Supplies - 7.0%
ArthroCare Corp. (a)	21,530		561,933
Cyberonics, Inc. (a)	20,973		780,824
Insulet Corp. (a)	9,888		194,991
NuVasive, Inc. (a)	29,743		466,668
Zeltiq Aesthetics, Inc.	5,349		59,267
Zoll Medical Corp. (a)	4,852		354,924
			2,418,607
Health Care Technology - 0.9%
Merge Healthcare, Inc. (a)	47,672		311,298
Life Sciences Tools & Services - 0.5%
Illumina, Inc. (a)	3,600		184,500
TOTAL HEALTH CARE			5,717,385
INDUSTRIALS - 12.2%
Aerospace & Defense - 1.0%
BE Aerospace, Inc. (a)	7,500		343,800
Building Products - 2.4%
Lennox International, Inc.	9,680		378,778
Owens Corning (a)	14,000		443,100
			821,878
Construction & Engineering - 1.0%
Fluor Corp.	5,700		344,736
Electrical Equipment - 2.2%
Cooper Industries PLC Class A	7,200		440,784
Roper Industries, Inc.	3,500		320,320
			761,104
Machinery - 4.8%
CNH Global NV (a)	13,926		597,565
Common Stocks - continued
	Shares		Value
INDUSTRIALS - continued
Machinery - continued
IDEX Corp.	5,900		$ 246,620
Ingersoll-Rand PLC	14,447		576,146
WABCO Holdings, Inc. (a)	3,990		237,365
			1,657,696
Marine - 0.8%
DryShips, Inc. (a)	49,000		170,520
Ultrapetrol (Bahamas) Ltd. (a)	45,157		125,085
			295,605
TOTAL INDUSTRIALS			4,224,819
INFORMATION TECHNOLOGY - 22.0%
Communications Equipment - 1.6%
Polycom, Inc. (a)	19,377		400,135
Riverbed Technology, Inc. (a)	5,100		145,197
			545,332
Computers & Peripherals - 1.0%
SanDisk Corp. (a)	7,300		361,058
Electronic Equipment & Components - 1.5%
Aeroflex Holding Corp. (a)	15,101		165,658
Maxwell Technologies, Inc. (a)	19,449		353,777
			519,435
Internet Software & Services - 2.5%
Blinkx PLC (a)	74,691		94,461
Rackspace Hosting, Inc. (a)	5,186		270,917
Velti PLC (a)	12,443		123,310
VeriSign, Inc.	10,600		391,670
			880,358
IT Services - 1.5%
Cognizant Technology Solutions Corp. Class A (a)	7,261		515,168
Semiconductors & Semiconductor Equipment - 5.7%
ASML Holding NV	8,300		378,065
Ceva, Inc. (a)	10,338		254,832
Freescale Semiconductor Holdings I Ltd. (d)	12,500		201,625
KLA-Tencor Corp.	7,100		343,640
NVIDIA Corp. (a)	23,600		357,540
NXP Semiconductors NV (a)	10,100		250,480
ON Semiconductor Corp. (a)	18,800		170,516
			1,956,698
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Software - 8.2%
ANSYS, Inc. (a)	5,279		$ 333,527
Ariba, Inc. (a)	6,500		204,555
Autodesk, Inc. (a)	10,900		412,565
Check Point Software Technologies Ltd. (a)	5,800		337,328
Citrix Systems, Inc. (a)	8,735		652,853
Informatica Corp. (a)	7,703		378,679
Intuit, Inc.	6,043		349,527
Nuance Communications, Inc. (a)	6,814		176,619
			2,845,653
TOTAL INFORMATION TECHNOLOGY			7,623,702
MATERIALS - 8.4%
Chemicals - 6.6%
CF Industries Holdings, Inc.	3,807		708,102
CVR Partners LP	11,987		321,971
Monsanto Co.	4,300		332,734
Potash Corp. of Saskatchewan, Inc.	7,600		353,487
Rentech Nitrogen Partners LP	9,000		222,660
The Mosaic Co.	6,331		365,615
			2,304,569
Metals & Mining - 1.8%
First Quantum Minerals Ltd.	11,500		263,083
Ivanhoe Mines Ltd. (a)	10,300		178,701
Walter Energy, Inc.	2,700		175,041
			616,825
TOTAL MATERIALS			2,921,394
TOTAL COMMON STOCKS (Cost $33,766,097)		34,257,827
Money Market Funds - 10.2%
	Shares		Value
Fidelity Cash Central Fund, 0.12% (b)	525,529		$ 525,529
Fidelity Securities Lending Cash Central Fund, 0.12% (b)(c)	3,020,852		3,020,852
TOTAL MONEY MARKET FUNDS (Cost $3,546,381)		3,546,381
TOTAL INVESTMENT PORTFOLIO - 109.0% (Cost $37,312,478)		37,804,208
NET OTHER ASSETS (LIABILITIES) - (9.0)%		(3,130,752)
NET ASSETS - 100%		$ 34,673,456

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. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

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	$ 234
Fidelity Securities Lending Cash Central Fund	3,385
Total	$ 3,619

Other Information

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs please refer to the Investment Valuation section at the end of this listing.

Income Tax Information

At February 29, 2012, the cost of investment securities for income tax purposes was $37,663,493. Net unrealized appreciation aggregated $140,715, of which $4,132,894 related to appreciated investment securities and $3,992,179 related to depreciated investment securities.

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 Fund uses independent pricing services approved by the Board of Trustees to value its investments. When current market prices or quotations are not readily available or reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. Factors used in determining value may include market or security specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The value used for net asset value calculation under these procedures may differ from published prices for the same securities. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments. Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.). Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by an independent 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 foreign equity securities, when significant market or security specific events arise, comparisons to the valuation of American Depositary Receipts, futures contracts, Exchange-traded funds (ETFs) and certain indexes as well as quoted prices for similar securities are used and are categorized as Level 2 in the hierarchy in these circumstances. Utilizing these techniques may result in transfers between Level 1 and Level 2. For restricted equity securities and private placements where observable inputs are limited, assumptions about market activity and risk are used and are categorized as Level 3 in the hierarchy.

Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.

For additional information on the Fund's 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/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	April 30, 2012

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/Kenneth B. Robins
	Kenneth B. Robins
	President and Treasurer

Date:	April 30, 2012

By:	/s/Christine Reynolds
	Christine Reynolds
	Chief Financial Officer

Date:	April 30, 2012

EX-99.CERT 2 ex99.htm

Exhibit EX-99.CERT

I, Kenneth B. Robins, 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: April 30, 2012

/s/Kenneth B. Robins

Kenneth B. Robins

President and Treasurer

I, Christine Reynolds, certify that:

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

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: April 30, 2012

/s/Christine Reynolds

Christine Reynolds

Chief Financial Officer