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, 2006

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, 2006

AAG-QTLY-1006

1.805754.102

Investments August 31, 2006 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.6%
	Shares		Value
CONSUMER DISCRETIONARY - 9.5%
Hotels, Restaurants & Leisure - 1.0%
Penn National Gaming, Inc. (a)	11,622		$ 384,921
Household Durables - 1.0%
Harman International Industries, Inc.	4,900		397,488
Internet & Catalog Retail - 1.5%
Coldwater Creek, Inc. (a)	21,022		577,474
Media - 1.0%
Focus Media Holding Ltd. ADR (a)	6,801		401,259
Specialty Retail - 5.0%
Abercrombie & Fitch Co. Class A	14,000		903,420
PETsMART, Inc.	7,820		196,282
Urban Outfitters, Inc. (a)	52,878		829,656
Williams-Sonoma, Inc.	300		8,838
			1,938,196
TOTAL CONSUMER DISCRETIONARY			3,699,338
ENERGY - 6.3%
Energy Equipment & Services - 1.8%
FMC Technologies, Inc. (a)	5,800		341,156
W-H Energy Services, Inc. (a)	6,980		352,281
			693,437
Oil, Gas & Consumable Fuels - 4.5%
Chesapeake Energy Corp.	11,800		372,526
EOG Resources, Inc.	5,700		369,474
Quicksilver Resources, Inc. (a)	8,400		316,008
Range Resources Corp.	13,850		387,523
Ultra Petroleum Corp. (a)	6,700		332,588
			1,778,119
TOTAL ENERGY			2,471,556
FINANCIALS - 6.0%
Capital Markets - 1.8%
Greenhill & Co., Inc.	3,300		181,599
Indiabulls Financial Services Ltd.	41,621		279,400
Indiabulls Financial Services Ltd. GDR (c)	11,268		75,477
Jefferies Group, Inc.	7,300		181,916
			718,392
Common Stocks - continued
	Shares		Value
FINANCIALS - continued
Diversified Financial Services - 3.9%
CBOT Holdings, Inc. Class A	3,400		$ 399,432
IntercontinentalExchange, Inc.	17,900		1,132,354
			1,531,786
Real Estate Investment Trusts - 0.3%
Host Hotels & Resorts, Inc.	4,224		95,209
TOTAL FINANCIALS			2,345,387
HEALTH CARE - 29.7%
Biotechnology - 3.8%
Alnylam Pharmaceuticals, Inc. (a)	24,022		312,766
Celgene Corp. (a)	8,180		332,844
PDL BioPharma, Inc. (a)	21,770		428,869
Telik, Inc. (a)	23,900		426,137
			1,500,616
Health Care Equipment & Supplies - 15.5%
Advanced Medical Optics, Inc. (a)	16,000		770,400
Conceptus, Inc. (a)	8,492		146,487
Cyberonics, Inc. (a)	27,000		439,560
Haemonetics Corp. (a)	8,900		414,562
Mentor Corp.	7,800		378,612
NeuroMetrix, Inc. (a)	6,806		184,511
Northstar Neuroscience, Inc.	10,583		124,350
NuVasive, Inc. (a)	33,800		694,928
Palomar Medical Technologies, Inc. (a)	7,025		278,893
Somanetics Corp. (a)	10,196		171,905
St. Jude Medical, Inc. (a)	56,600		2,060,806
Varian Medical Systems, Inc. (a)	7,300		389,090
			6,054,104
Health Care Technology - 1.3%
Eclipsys Corp. (a)	19,717		337,161
Merge Technologies, Inc. (a)	23,875		176,914
			514,075
Life Sciences Tools & Services - 2.8%
Millipore Corp. (a)	3,100		198,958
Ventana Medical Systems, Inc. (a)	19,320		901,085
			1,100,043
Pharmaceuticals - 6.3%
Allergan, Inc.	10,221		1,170,918
Common Stocks - continued
	Shares		Value
HEALTH CARE - continued
Pharmaceuticals - continued
Medicis Pharmaceutical Corp. Class A	13,400		$ 392,486
Sepracor, Inc. (a)	19,299		907,246
			2,470,650
TOTAL HEALTH CARE			11,639,488
INDUSTRIALS - 9.4%
Aerospace & Defense - 0.6%
Ceradyne, Inc. (a)	4,978		219,380
Air Freight & Logistics - 0.4%
UTI Worldwide, Inc.	7,100		163,655
Construction & Engineering - 2.0%
Infrasource Services, Inc. (a)	22,300		385,567
Quanta Services, Inc. (a)	22,200		393,606
			779,173
Electrical Equipment - 4.0%
Energy Conversion Devices, Inc. (a)	21,887		767,139
Rockwell Automation, Inc.	6,600		372,108
Suntech Power Holdings Co. Ltd. sponsored ADR	14,400		417,600
			1,556,847
Industrial Conglomerates - 1.2%
McDermott International, Inc. (a)	9,400		453,080
Machinery - 1.1%
Deere & Co.	5,800		452,980
Marine - 0.1%
Diana Shipping, Inc.	3,300		42,339
TOTAL INDUSTRIALS			3,667,454
INFORMATION TECHNOLOGY - 26.5%
Communications Equipment - 2.0%
Comverse Technology, Inc. (a)	37,973		793,636
Computers & Peripherals - 0.5%
Brocade Communications Systems, Inc. (a)	34,455		213,621
Internet Software & Services - 0.8%
Bankrate, Inc. (a)	11,000		312,620
Common Stocks - continued
	Shares		Value
INFORMATION TECHNOLOGY - continued
IT Services - 2.2%
Cognizant Technology Solutions Corp. Class A (a)	6,400		$ 447,424
Paychex, Inc.	11,100		398,601
			846,025
Semiconductors & Semiconductor Equipment - 11.7%
ARM Holdings PLC sponsored ADR	60,000		408,000
ASML Holding NV (NY Shares) (a)	36,700		809,602
Broadcom Corp. Class A (a)	27,400		806,656
Lam Research Corp. (a)	12,200		522,038
Marvell Technology Group Ltd. (a)	22,600		395,726
Microchip Technology, Inc.	11,870		405,479
PMC-Sierra, Inc. (a)	93,630		640,429
Qimonda AG Sponsored ADR (a)	12,600		203,490
Renewable Energy Corp. AS	26,600		372,378
			4,563,798
Software - 9.3%
Activision, Inc. (a)	29,910		385,839
Autodesk, Inc. (a)	11,400		396,264
BEA Systems, Inc. (a)	14,400		197,712
Electronic Arts, Inc. (a)	11,400		581,058
Hyperion Solutions Corp. (a)	12,073		399,858
Informatica Corp. (a)	27,800		406,992
NAVTEQ Corp. (a)	7,200		191,232
Nintendo Co. Ltd.	2,100		430,751
Wind River Systems, Inc. (a)	64,519		656,158
			3,645,864
TOTAL INFORMATION TECHNOLOGY			10,375,564
MATERIALS - 5.9%
Chemicals - 5.9%
Agrium, Inc.	18,000		418,040
Monsanto Co.	12,200		578,768
Mosaic Co.	26,100		423,864
Potash Corp. of Saskatchewan, Inc.	8,900		871,933
			2,292,605
Common Stocks - continued
	Shares		Value
TELECOMMUNICATION SERVICES - 3.2%
Diversified Telecommunication Services - 2.2%
Level 3 Communications, Inc. (a)	104,000		$ 460,720
Qwest Communications International, Inc. (a)	47,600		419,356
			880,076
Wireless Telecommunication Services - 1.0%
American Tower Corp. Class A (a)	10,900		390,874
TOTAL TELECOMMUNICATION SERVICES			1,270,950
UTILITIES - 1.1%
Independent Power Producers & Energy Traders - 1.1%
Ormat Technologies, Inc.	11,426		415,792
TOTAL COMMON STOCKS (Cost $40,146,864)		38,178,134
Money Market Funds - 2.1%
Fidelity Cash Central Fund, 5.31% (b) (Cost $810,986)	810,986		810,986
TOTAL INVESTMENT PORTFOLIO - 99.7% (Cost $40,957,850)			38,989,120
NET OTHER ASSETS - 0.3%			128,383
NET ASSETS - 100%		$ 39,117,503

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) 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 $ 75,477 or 0.2% of net assets.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the fund from the affiliated Central funds is as follows:

Fund	Income earned
Fidelity Cash Central Fund	$ 24,688
Fidelity Securities Lending Cash Central Fund	1,424
Total	$ 26,112

Income Tax Information

At August 31, 2006, the aggregate cost of investment securities for income tax purposes was $41,207,331. Net unrealized depreciation aggregated $2,218,211, of which $2,600,705 related to appreciated investment securities and $4,818,916 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 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 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:	October 25, 2006

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:	October 25, 2006
By:	/s/Joseph B. Hollis
	Joseph B. Hollis
	Chief Financial Officer
Date:	October 25, 2006

EX-99.CERT

Exhibit EX-99.CERT

I, Christine Reynolds, 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 25, 2006

/s/Christine Reynolds

Christine Reynolds

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 25, 2006

/s/Joseph B. Hollis

Joseph B. Hollis

Chief Financial Officer