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:	February 29, 2008

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 29, 2008

1.797931.104

AAG-QTLY-0408

Investments February 29, 2008 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.4%
	Shares		Value
CONSUMER DISCRETIONARY - 9.3%
Internet & Catalog Retail - 0.9%
Priceline.com, Inc. (a)	3,400		$ 387,668
Specialty Retail - 6.8%
Abercrombie & Fitch Co. Class A	14,100		1,093,173
Tween Brands, Inc. (a)	15,019		444,562
Urban Outfitters, Inc. (a)	31,000		892,180
Zumiez, Inc. (a)	23,150		406,977
			2,836,892
Textiles, Apparel & Luxury Goods - 1.6%
Polo Ralph Lauren Corp. Class A	10,990		683,468
TOTAL CONSUMER DISCRETIONARY			3,908,028
ENERGY - 15.6%
Energy Equipment & Services - 1.2%
FMC Technologies, Inc. (a)	8,500		481,610
Oil, Gas & Consumable Fuels - 14.4%
Chesapeake Energy Corp.	9,600		434,112
CONSOL Energy, Inc.	11,521		875,366
Denbury Resources, Inc. (a)	17,496		557,947
Gulfport Energy Corp. (a)	29,208		421,764
Hess Corp.	9,723		905,989
OPTI Canada, Inc. (a)	27,600		485,219
Peabody Energy Corp.	9,498		537,777
Quicksilver Resources, Inc. (a)	12,616		433,990
Range Resources Corp.	7,150		437,437
Southwestern Energy Co. (a)	6,893		449,630
Suncor Energy, Inc.	4,900		505,411
			6,044,642
TOTAL ENERGY			6,526,252
FINANCIALS - 13.0%
Capital Markets - 2.4%
Greenhill & Co., Inc.	6,900		448,569
Indiabulls Securities Ltd. (a)(e)	25,005		126,524
T. Rowe Price Group, Inc.	8,407		424,806
			999,899
Diversified Financial Services - 4.7%
Bolsa de Mercadorias & Futuros - BM&F SA	27,500		297,749
Bovespa Holding SA	14,000		223,035
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - continued
Indiabulls Financial Services Ltd.	25,005		$ 376,147
JSE Ltd.	49,858		461,619
MarketAxess Holdings, Inc. (a)	22,187		207,892
MSCI, Inc. Class A	13,799		410,244
			1,976,686
Real Estate Investment Trusts - 1.1%
Annaly Capital Management, Inc.	22,100		457,249
Real Estate Management & Development - 4.8%
Dev Property Development PLC	207,200		364,285
Indiabulls Real Estate Ltd. (a)	105,016		1,643,814
			2,008,099
TOTAL FINANCIALS			5,441,933
HEALTH CARE - 28.8%
Biotechnology - 7.1%
Alnylam Pharmaceuticals, Inc. (a)	44,100		1,252,440
Amylin Pharmaceuticals, Inc. (a)	18,933		501,157
BioMarin Pharmaceutical, Inc. (a)	11,700		445,068
CytRx Corp. (a)(d)	129,727		233,509
Isis Pharmaceuticals, Inc. (a)	37,986		546,998
			2,979,172
Health Care Equipment & Supplies - 17.0%
ArthroCare Corp. (a)(d)	39,331		1,579,140
Conceptus, Inc. (a)	11,990		204,549
Cyberonics, Inc. (a)	39,772		513,059
Masimo Corp.	6,900		221,214
NeuroMetrix, Inc. (a)	137		333
NuVasive, Inc. (a)	47,837		1,843,638
St. Jude Medical, Inc. (a)	57,400		2,467,052
TranS1, Inc.	23,160		306,407
			7,135,392
Health Care Technology - 1.8%
Eclipsys Corp. (a)	14,240		304,024
MedAssets, Inc.	25,183		457,323
			761,347
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Life Sciences Tools & Services - 2.9%
AMAG Pharmaceuticals, Inc. (a)	15,229		$ 666,573
QIAGEN NV (a)	24,100		529,959
			1,196,532
TOTAL HEALTH CARE			12,072,443
INDUSTRIALS - 6.5%
Airlines - 0.6%
AirTran Holdings, Inc. (a)	34,190		246,852
Commercial Services & Supplies - 2.3%
CoStar Group, Inc. (a)	6,373		264,607
EnergySolutions, Inc.	10,200		222,360
IHS, Inc. Class A (a)	7,900		487,035
			974,002
Construction & Engineering - 2.0%
URS Corp. (a)	20,684		833,152
Marine - 0.6%
Ultrapetrol (Bahamas) Ltd. (a)	16,881		236,334
Road & Rail - 1.0%
Landstar System, Inc.	9,608		445,619
TOTAL INDUSTRIALS			2,735,959
INFORMATION TECHNOLOGY - 17.6%
Communications Equipment - 5.2%
Infinera Corp.	10,500		122,640
Juniper Networks, Inc. (a)	51,100		1,370,502
Starent Networks Corp.	42,430		667,424
			2,160,566
Electronic Equipment & Instruments - 1.0%
Itron, Inc. (a)	4,638		442,141
Internet Software & Services - 7.4%
Omniture, Inc. (a)	67,216		1,544,624
ValueClick, Inc. (a)	61,700		1,191,427
WebMD Health Corp. Class A (a)	13,082		364,465
			3,100,516
Semiconductors & Semiconductor Equipment - 3.0%
Cavium Networks, Inc.	23,033		327,529
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
Semiconductors & Semiconductor Equipment - continued
Hittite Microwave Corp. (a)	14,742		$ 488,108
KLA-Tencor Corp.	10,300		432,703
			1,248,340
Software - 1.0%
Concur Technologies, Inc. (a)	14,800		432,752
TOTAL INFORMATION TECHNOLOGY			7,384,315
MATERIALS - 3.4%
Chemicals - 1.0%
Albemarle Corp.	11,128		422,196
Metals & Mining - 2.4%
Aquarius Platinum Ltd. (Australia)	31,765		470,264
Steel Dynamics, Inc.	8,800		512,688
			982,952
TOTAL MATERIALS			1,405,148
TELECOMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.7%
Time Warner Telecom, Inc. Class A (sub. vtg.) (a)	18,807		299,784
UTILITIES - 2.5%
Electric Utilities - 2.1%
PPL Corp.	9,268		420,582
Public Power Corp. of Greece	10,860		461,187
			881,769
Independent Power Producers & Energy Traders - 0.4%
Ocean Power Technologies, Inc.	12,948		161,073
TOTAL UTILITIES			1,042,842
TOTAL COMMON STOCKS (Cost $41,378,842)		40,816,704
Money Market Funds - 4.3%
	Shares		Value
Fidelity Cash Central Fund, 3.24% (b)	792,392		$ 792,392
Fidelity Securities Lending Cash Central Fund, 3.25% (b)(c)	1,007,500		1,007,500
TOTAL MONEY MARKET FUNDS (Cost $1,799,892)		1,799,892
TOTAL INVESTMENT PORTFOLIO - 101.7% (Cost $43,178,734)			42,616,596
NET OTHER ASSETS - (1.7)%			(719,441)
NET ASSETS - 100%		$ 41,897,155

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.

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

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

(e) Restricted securities - 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 $126,524 or 0.3% of net assets.

Additional information on each holding is as follows:

Security	Acquisition Date	Cost
Indiabulls Securities Ltd.	1/4/07 - 1/24/07	$ 40,290

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	$ 7,756
Fidelity Securities Lending Cash Central Fund	21,299
Total	$ 29,055

Other Information

The following is a summary of the inputs used, as of February 29, 2008, involving the Fund's assets carried at value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities.

Valuation Inputs at Reporting Date:
Description	Total	Level 1	Level 2	Level 3
Investments in Securities	$ 42,616,596	$ 38,712,756	$ 3,777,316	$ 126,524

The following is a reconciliation of assets for which Level 3 inputs were used in determining value:

	Investments in Securities
Beginning Balance	$ -
Total Realized Gain (Loss)	-
Total Unrealized Gain (Loss)	86,234
Cost of Purchases	40,290
Proceeds of Sales	-
Amortization/Accretion	-
Transfer in/out of Level 3	-
Ending Balance	$ 126,524

The information used in the above reconciliation represents fiscal year to date activity for any Investment Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represents either the beginning value (for transfers in), or the ending value (for transfers out) of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period.

Income Tax Information

At February 29, 2008, the aggregate cost of investment securities for income tax purposes was $43,321,748. Net unrealized depreciation aggregated $705,152, of which $4,564,201 related to appreciated investment securities and $5,269,353 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 reliable, valuations may be determined in good faith in accordance with procedures adopted by the Board of Trustees. The frequency with which these procedures are used cannot be predicted and may be utilized to a significant extent. The value of securities used for NAV calculation under these procedures may differ from published prices for the same securities.

The Fund adopted the provisions of Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" (SFAS 157), effective with the beginning of the Fund's fiscal year. SFAS 157 establishes a hierarchy that prioritizes the inputs to valuation techniques giving the highest priority to readily available unadjusted quoted prices in active markets for identical assets (level 1 measurements) and the lowest priority to unobservable inputs (level 3 measurements) when market prices are not readily available or reliable. The three levels of the hierarchy under SFAS 157 are described below:

Level 1 - Quoted prices in active markets for identical securities.

Level 2 - Prices determined using other significant observable inputs. Observable inputs are inputs that other market participants would use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk and others.

Level 3 - Prices determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Fund's own assumptions about the factors market participants would use in pricing an investment, and would be based on the best information available.

Changes in valuation techniques may result in transfers in or out of an investment's assigned level within 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/Kimberley Monasterio
	Kimberley Monasterio
	President and Treasurer
Date:	April 29, 2008

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:	April 29, 2008

By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer
Date:	April 29, 2008

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: April 29, 2008

/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: April 29, 2008

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer