NPORT-EX 2 QTLY_3407_20200430.htm

Quarterly Holdings Report
for

Fidelity® OTC K6 Portfolio

April 30, 2020







OTC-K6-QTLY-0620
1.9893895.100





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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