Quarterly Holdings Report
for
Fidelity® OTC K6 Portfolio
April 30, 2020
Schedule of Investments April 30, 2020 (Unaudited)
Showing Percentage of Net Assets
| Common Stocks - 100.1% | |||
| Shares | Value | ||
| COMMUNICATION SERVICES - 19.8% | |||
| Entertainment - 2.7% | |||
| Activision Blizzard, Inc. | 50,215 | $3,200,202 | |
| Electronic Arts, Inc. (a) | 55 | 6,284 | |
| NetEase, Inc. ADR | 5,477 | 1,889,346 | |
| Netflix, Inc. (a) | 5,539 | 2,325,549 | |
| Nintendo Co. Ltd. ADR | 19,916 | 1,024,479 | |
| Take-Two Interactive Software, Inc. (a) | 9,457 | 1,144,770 | |
| Tencent Music Entertainment Group ADR (a) | 13,492 | 153,944 | |
| The Walt Disney Co. | 15,465 | 1,672,540 | |
| Ubisoft Entertainment SA (a) | 2,557 | 190,194 | |
| Zynga, Inc. (a) | 184,569 | 1,391,650 | |
| 12,998,958 | |||
| Interactive Media & Services - 15.3% | |||
| 58.com, Inc. ADR (a) | 237 | 12,312 | |
| Alphabet, Inc.: | |||
| Class A (a) | 18,702 | 25,185,983 | |
| Class C (a) | 9,155 | 12,346,982 | |
| ANGI Homeservices, Inc. Class A (a) | 15,828 | 107,235 | |
| Eventbrite, Inc. (a) | 504 | 4,596 | |
| Facebook, Inc. Class A (a) | 107,668 | 22,040,716 | |
| IAC/InterActiveCorp (a) | 6,878 | 1,537,095 | |
| Match Group, Inc. (a)(b) | 23,866 | 1,836,727 | |
| Scout24 AG (c) | 12,700 | 830,863 | |
| Tencent Holdings Ltd. sponsored ADR | 94,089 | 4,950,963 | |
| Twitter, Inc. (a) | 151,601 | 4,347,917 | |
| Yandex NV Series A (a) | 6,215 | 234,803 | |
| 73,436,192 | |||
| Media - 1.5% | |||
| Charter Communications, Inc. Class A (a) | 14,015 | 6,940,648 | |
| Wireless Telecommunication Services - 0.3% | |||
| Boingo Wireless, Inc. (a) | 3,939 | 54,910 | |
| T-Mobile U.S., Inc. (a) | 17,900 | 1,571,620 | |
| 1,626,530 | |||
| TOTAL COMMUNICATION SERVICES | 95,002,328 | ||
| CONSUMER DISCRETIONARY - 17.2% | |||
| Automobiles - 1.7% | |||
| Tesla, Inc. (a) | 10,602 | 8,289,492 | |
| Diversified Consumer Services - 0.6% | |||
| Adtalem Global Education, Inc. (a) | 2,478 | 78,726 | |
| Koolearn Technology Holding Ltd. (a)(c) | 94,000 | 451,179 | |
| New Oriental Education & Technology Group, Inc. sponsored ADR (a) | 8,239 | 1,051,791 | |
| TAL Education Group ADR (a) | 24,720 | 1,339,577 | |
| 2,921,273 | |||
| Hotels, Restaurants & Leisure - 2.4% | |||
| Domino's Pizza, Inc. | 1,356 | 490,777 | |
| Eldorado Resorts, Inc. (a) | 13,719 | 294,135 | |
| Extended Stay America, Inc. unit | 38,269 | 415,984 | |
| Hilton Grand Vacations, Inc. (a) | 2,519 | 51,891 | |
| Marriott International, Inc. Class A | 26,465 | 2,406,727 | |
| Planet Fitness, Inc. (a) | 3,854 | 232,512 | |
| Starbucks Corp. | 98,408 | 7,550,846 | |
| Texas Roadhouse, Inc. Class A | 1,215 | 57,214 | |
| 11,500,086 | |||
| Internet & Direct Marketing Retail - 8.3% | |||
| Amazon.com, Inc. (a) | 14,695 | 36,355,430 | |
| Meituan Dianping Class B (a) | 176,046 | 2,357,095 | |
| MercadoLibre, Inc. (a) | 660 | 385,117 | |
| The Booking Holdings, Inc. (a) | 284 | 420,482 | |
| 39,518,124 | |||
| Multiline Retail - 0.9% | |||
| Dollar General Corp. | 1,872 | 328,162 | |
| Dollar Tree, Inc. (a) | 51,246 | 4,082,769 | |
| 4,410,931 | |||
| Specialty Retail - 1.9% | |||
| Burlington Stores, Inc. (a) | 6,654 | 1,215,619 | |
| Five Below, Inc. (a) | 21,477 | 1,936,366 | |
| National Vision Holdings, Inc. (a) | 14,216 | 376,724 | |
| Ross Stores, Inc. | 44,745 | 4,087,903 | |
| The Home Depot, Inc. | 7,480 | 1,644,328 | |
| 9,260,940 | |||
| Textiles, Apparel & Luxury Goods - 1.4% | |||
| G-III Apparel Group Ltd. (a) | 4,088 | 46,317 | |
| Kontoor Brands, Inc. (b) | 179 | 3,474 | |
| lululemon athletica, Inc. (a) | 22,330 | 4,990,308 | |
| LVMH Moet Hennessy Louis Vuitton SE | 3,451 | 1,334,132 | |
| PVH Corp. | 6,100 | 300,303 | |
| VF Corp. | 954 | 55,427 | |
| 6,729,961 | |||
| TOTAL CONSUMER DISCRETIONARY | 82,630,807 | ||
| CONSUMER STAPLES - 3.7% | |||
| Beverages - 2.1% | |||
| Diageo PLC | 54,445 | 1,874,533 | |
| Keurig Dr. Pepper, Inc. | 32,214 | 852,382 | |
| Kweichow Moutai Co. Ltd. (A Shares) | 12,000 | 2,134,670 | |
| Monster Beverage Corp. (a) | 51,408 | 3,177,528 | |
| PepsiCo, Inc. | 14,842 | 1,963,448 | |
| 10,002,561 | |||
| Food & Staples Retailing - 1.1% | |||
| BJ's Wholesale Club Holdings, Inc. (a) | 82,954 | 2,182,520 | |
| Costco Wholesale Corp. | 10,652 | 3,227,556 | |
| 5,410,076 | |||
| Food Products - 0.3% | |||
| Mondelez International, Inc. | 19,364 | 996,084 | |
| The Kraft Heinz Co. | 13,692 | 415,278 | |
| 1,411,362 | |||
| Tobacco - 0.2% | |||
| Altria Group, Inc. | 20,083 | 788,258 | |
| TOTAL CONSUMER STAPLES | 17,612,257 | ||
| ENERGY - 1.1% | |||
| Oil, Gas & Consumable Fuels - 1.1% | |||
| Cenovus Energy, Inc. (Canada) | 3,945 | 14,312 | |
| Centennial Resource Development, Inc. Class A (a) | 21,288 | 25,120 | |
| EOG Resources, Inc. | 285 | 13,540 | |
| Reliance Industries Ltd. | 282,100 | 5,485,971 | |
| 5,538,943 | |||
| FINANCIALS - 3.1% | |||
| Banks - 0.8% | |||
| Huntington Bancshares, Inc. | 316,343 | 2,923,009 | |
| PacWest Bancorp | 13,642 | 276,114 | |
| Signature Bank | 7,737 | 829,252 | |
| 4,028,375 | |||
| Capital Markets - 1.8% | |||
| Cboe Global Markets, Inc. | 7,385 | 733,921 | |
| CME Group, Inc. | 12,337 | 2,198,577 | |
| London Stock Exchange Group PLC | 18,400 | 1,727,913 | |
| Northern Trust Corp. | 12,830 | 1,015,623 | |
| S&P Global, Inc. | 8,772 | 2,569,143 | |
| Virtu Financial, Inc. Class A | 8,026 | 187,568 | |
| 8,432,745 | |||
| Consumer Finance - 0.5% | |||
| Capital One Financial Corp. | 35,527 | 2,300,729 | |
| TOTAL FINANCIALS | 14,761,849 | ||
| HEALTH CARE - 9.2% | |||
| Biotechnology - 5.3% | |||
| Acceleron Pharma, Inc. (a) | 7,669 | 694,275 | |
| Agios Pharmaceuticals, Inc. (a) | 11,784 | 484,794 | |
| Alexion Pharmaceuticals, Inc. (a) | 31,051 | 3,337,051 | |
| Allakos, Inc. (a)(b) | 1,200 | 78,912 | |
| Alnylam Pharmaceuticals, Inc. (a) | 6,440 | 848,148 | |
| Amgen, Inc. | 23,210 | 5,552,296 | |
| Arcutis Biotherapeutics, Inc. (a) | 9,824 | 291,969 | |
| Ascendis Pharma A/S sponsored ADR (a) | 1,988 | 269,831 | |
| Blueprint Medicines Corp. (a) | 3,181 | 187,138 | |
| Cellectis SA sponsored ADR (a) | 8,323 | 108,615 | |
| ChemoCentryx, Inc. (a) | 2,790 | 147,898 | |
| Chimerix, Inc. (a) | 1,118 | 2,571 | |
| Crinetics Pharmaceuticals, Inc. (a) | 2,013 | 33,577 | |
| CSL Ltd. | 2,549 | 508,085 | |
| FibroGen, Inc. (a) | 4,092 | 150,954 | |
| G1 Therapeutics, Inc. (a) | 6,670 | 87,577 | |
| GenSight Biologics SA (a)(b)(c) | 5,043 | 17,629 | |
| Global Blood Therapeutics, Inc. (a) | 21,069 | 1,612,200 | |
| Intercept Pharmaceuticals, Inc. (a) | 8,679 | 710,984 | |
| Ionis Pharmaceuticals, Inc. (a) | 795 | 44,146 | |
| Neurocrine Biosciences, Inc. (a) | 17,455 | 1,713,034 | |
| Regeneron Pharmaceuticals, Inc. (a) | 4,150 | 2,182,402 | |
| Sage Therapeutics, Inc. (a) | 5,726 | 223,199 | |
| Sarepta Therapeutics, Inc. (a) | 6,596 | 777,536 | |
| Scholar Rock Holding Corp. (a) | 2,735 | 44,936 | |
| Trevena, Inc. (a)(b) | 10,617 | 7,857 | |
| Twist Bioscience Corp. (a) | 21,596 | 706,405 | |
| uniQure B.V. (a) | 12,601 | 801,928 | |
| Vertex Pharmaceuticals, Inc. (a) | 11,100 | 2,788,320 | |
| Xencor, Inc. (a) | 26,888 | 785,936 | |
| 25,200,203 | |||
| Health Care Equipment & Supplies - 1.6% | |||
| DexCom, Inc. (a) | 6,969 | 2,336,009 | |
| Hoya Corp. ADR | 3,199 | 291,013 | |
| Insulet Corp. (a) | 10,597 | 2,116,433 | |
| Intuitive Surgical, Inc. (a) | 2,879 | 1,470,824 | |
| Masimo Corp. (a) | 5,009 | 1,071,475 | |
| Neuronetics, Inc. (a) | 922 | 2,305 | |
| Tandem Diabetes Care, Inc. (a) | 5,161 | 411,745 | |
| ViewRay, Inc. (a) | 22,457 | 46,711 | |
| 7,746,515 | |||
| Health Care Providers & Services - 0.6% | |||
| Cigna Corp. | 3,600 | 704,808 | |
| Humana, Inc. | 5,790 | 2,210,738 | |
| UnitedHealth Group, Inc. | 357 | 104,412 | |
| 3,019,958 | |||
| Health Care Technology - 0.1% | |||
| Castlight Health, Inc. Class B (a) | 1,119 | 820 | |
| Schrodinger, Inc. | 15,068 | 699,155 | |
| 699,975 | |||
| Life Sciences Tools & Services - 0.9% | |||
| 10X Genomics, Inc. (a) | 11,670 | 932,083 | |
| Bruker Corp. | 54,343 | 2,136,767 | |
| Nanostring Technologies, Inc. (a) | 35,663 | 1,132,657 | |
| Thermo Fisher Scientific, Inc. | 403 | 134,876 | |
| 4,336,383 | |||
| Pharmaceuticals - 0.7% | |||
| AstraZeneca PLC: | |||
| (United Kingdom) | 3,236 | 338,460 | |
| sponsored ADR | 29,159 | 1,524,433 | |
| Elanco Animal Health, Inc. (a) | 2,096 | 51,792 | |
| Roche Holding AG (participation certificate) | 3,300 | 1,142,781 | |
| TherapeuticsMD, Inc. (a) | 8,213 | 12,977 | |
| Zogenix, Inc. (a) | 4,007 | 113,118 | |
| 3,183,561 | |||
| TOTAL HEALTH CARE | 44,186,595 | ||
| INDUSTRIALS - 2.8% | |||
| Airlines - 0.4% | |||
| Southwest Airlines Co. | 46,700 | 1,459,375 | |
| Spirit Airlines, Inc. (a) | 2,427 | 36,454 | |
| United Airlines Holdings, Inc. (a)(b) | 10,181 | 301,154 | |
| 1,796,983 | |||
| Commercial Services & Supplies - 0.3% | |||
| Copart, Inc. (a) | 16,796 | 1,345,528 | |
| Professional Services - 0.5% | |||
| CoStar Group, Inc. (a) | 102 | 66,123 | |
| Recruit Holdings Co. Ltd. | 1,470 | 42,882 | |
| Verisk Analytics, Inc. | 13,785 | 2,106,762 | |
| 2,215,767 | |||
| Road & Rail - 1.6% | |||
| CSX Corp. | 25,673 | 1,700,323 | |
| J.B. Hunt Transport Services, Inc. | 432 | 43,684 | |
| Lyft, Inc. (a) | 56,256 | 1,846,884 | |
| Rumo SA (a) | 247,400 | 900,356 | |
| Uber Technologies, Inc. | 105,034 | 3,179,379 | |
| 7,670,626 | |||
| Trading Companies & Distributors - 0.0% | |||
| HD Supply Holdings, Inc. (a) | 7,327 | 217,465 | |
| TOTAL INDUSTRIALS | 13,246,369 | ||
| INFORMATION TECHNOLOGY - 42.2% | |||
| Communications Equipment - 0.7% | |||
| Cisco Systems, Inc. | 83,450 | 3,536,611 | |
| IT Services - 4.2% | |||
| Akamai Technologies, Inc. (a) | 14,979 | 1,463,598 | |
| Black Knight, Inc. (a) | 38,904 | 2,745,455 | |
| Fastly, Inc. Class A | 888 | 19,225 | |
| Fidelity National Information Services, Inc. | 16,726 | 2,205,992 | |
| Fiserv, Inc. (a) | 4,834 | 498,192 | |
| Gartner, Inc. (a) | 30,324 | 3,602,794 | |
| Genpact Ltd. | 21,125 | 727,334 | |
| GoDaddy, Inc. (a) | 36,182 | 2,512,116 | |
| MasterCard, Inc. Class A | 2,162 | 594,485 | |
| PayPal Holdings, Inc. (a) | 2,232 | 274,536 | |
| Shopify, Inc. Class A (a) | 3,134 | 1,987,595 | |
| Twilio, Inc. Class A (a) | 20,906 | 2,347,744 | |
| Visa, Inc. Class A | 1,159 | 207,136 | |
| Wix.com Ltd. (a) | 6,805 | 890,162 | |
| 20,076,364 | |||
| Semiconductors & Semiconductor Equipment - 10.0% | |||
| Analog Devices, Inc. | 20,919 | 2,292,722 | |
| Applied Materials, Inc. | 60,585 | 3,009,863 | |
| ASML Holding NV | 11,254 | 3,245,991 | |
| Broadcom, Inc. | 13,131 | 3,566,642 | |
| Cirrus Logic, Inc. (a) | 4,752 | 359,251 | |
| Intel Corp. | 27,362 | 1,641,173 | |
| KLA-Tencor Corp. | 2,229 | 365,757 | |
| Lam Research Corp. | 7,240 | 1,848,227 | |
| Marvell Technology Group Ltd. | 231,528 | 6,191,059 | |
| Microchip Technology, Inc. | 3,394 | 297,756 | |
| Micron Technology, Inc. (a) | 71,019 | 3,401,100 | |
| NVIDIA Corp. | 24,104 | 7,045,117 | |
| NXP Semiconductors NV | 60,230 | 5,997,101 | |
| Qorvo, Inc. (a) | 4,467 | 437,900 | |
| Qualcomm, Inc. | 79,892 | 6,285,104 | |
| Skyworks Solutions, Inc. | 2,186 | 227,082 | |
| Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 5,641 | 299,706 | |
| Xilinx, Inc. | 16,768 | 1,465,523 | |
| 47,977,074 | |||
| Software - 17.1% | |||
| Adobe, Inc. (a) | 21,578 | 7,630,844 | |
| Aspen Technology, Inc. (a) | 31,998 | 3,271,796 | |
| Autodesk, Inc. (a) | 16,268 | 3,044,231 | |
| Cloudflare, Inc. (a) | 6,240 | 147,014 | |
| DocuSign, Inc. (a) | 4,319 | 452,415 | |
| Dropbox, Inc. Class A (a) | 4,593 | 96,545 | |
| Everbridge, Inc. (a) | 10,970 | 1,221,839 | |
| Globant SA (a) | 4,800 | 555,216 | |
| HIVE Blockchain Technologies Ltd. (a) | 59,659 | 16,930 | |
| HubSpot, Inc. (a) | 1,432 | 241,478 | |
| Intuit, Inc. | 9,661 | 2,606,634 | |
| Manhattan Associates, Inc. (a) | 23,231 | 1,648,007 | |
| Microsoft Corp. | 302,061 | 54,132,355 | |
| Netcompany Group A/S (a)(c) | 1,534 | 79,209 | |
| Nortonlifelock, Inc. | 8,744 | 185,985 | |
| Parametric Technology Corp. (a) | 1,145 | 79,291 | |
| Paylocity Holding Corp. (a) | 4,491 | 514,354 | |
| Q2 Holdings, Inc. (a) | 3,175 | 253,111 | |
| Salesforce.com, Inc. (a) | 29,085 | 4,710,316 | |
| ServiceNow, Inc. (a) | 260 | 91,400 | |
| Talend SA ADR (a)(b) | 27,990 | 729,979 | |
| Workday, Inc. Class A (a) | 3,449 | 530,801 | |
| 82,239,750 | |||
| Technology Hardware, Storage & Peripherals - 10.2% | |||
| Apple, Inc. | 152,474 | 44,796,861 | |
| Samsung Electronics Co. Ltd. | 22,022 | 906,375 | |
| Western Digital Corp. | 65,457 | 3,016,259 | |
| 48,719,495 | |||
| TOTAL INFORMATION TECHNOLOGY | 202,549,294 | ||
| MATERIALS - 0.7% | |||
| Chemicals - 0.3% | |||
| Albemarle Corp. U.S. | 2,711 | 166,537 | |
| FMC Corp. | 1,113 | 102,285 | |
| LG Chemical Ltd. | 1,162 | 360,124 | |
| Livent Corp. (a)(b) | 137,127 | 850,187 | |
| 1,479,133 | |||
| Paper & Forest Products - 0.4% | |||
| Suzano Papel e Celulose SA | 241,700 | 1,751,668 | |
| TOTAL MATERIALS | 3,230,801 | ||
| REAL ESTATE - 0.3% | |||
| Equity Real Estate Investment Trusts (REITs) - 0.3% | |||
| American Tower Corp. | 620 | 147,560 | |
| Crown Castle International Corp. | 3,736 | 595,630 | |
| Equinix, Inc. | 1,201 | 810,915 | |
| 1,554,105 | |||
| TOTAL COMMON STOCKS | |||
| (Cost $432,653,242) | 480,313,348 | ||
| Money Market Funds - 1.3% | |||
| Fidelity Cash Central Fund 0.16% (d) | 3,000,999 | 3,001,899 | |
| Fidelity Securities Lending Cash Central Fund 0.11% (d)(e) | 3,049,638 | 3,049,943 | |
| TOTAL MONEY MARKET FUNDS | |||
| (Cost $6,051,542) | 6,051,842 | ||
| TOTAL INVESTMENT IN SECURITIES - 101.4% | |||
| (Cost $438,704,784) | 486,365,190 | ||
| NET OTHER ASSETS (LIABILITIES) - (1.4)% | (6,621,152) | ||
| NET ASSETS - 100% | $479,744,038 |
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(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 $1,378,880 or 0.3% of net assets.
(d) Affiliated fund that is generally 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.
(e) Investment made with cash collateral received from securities on loan.
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 | $15,213 |
| Fidelity Securities Lending Cash Central Fund | 32,673 |
| Total | $47,886 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of 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 Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. 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 a third party pricing vendor 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 market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be 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 significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder 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 see the fund's most recent prospectus and annual report.
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