NPORT-EX 2 QTLY_3407_20201031.htm

Quarterly Holdings Report
for

Fidelity® OTC K6 Portfolio

October 31, 2020







OTC-K6-QTLY-1220
1.9893894.101





Schedule of Investments October 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 100.2%   
 Shares Value 
COMMUNICATION SERVICES - 20.7%   
Entertainment - 1.9%   
Activision Blizzard, Inc. 139,933 $10,597,126 
Electronic Arts, Inc. (a) 102 12,223 
NetEase, Inc. ADR 707 61,361 
Netflix, Inc. (a) 2,080 989,539 
Take-Two Interactive Software, Inc. (a) 22,209 3,440,618 
The Walt Disney Co. 43,826 5,313,903 
Zynga, Inc. (a) 102,120 918,059 
  21,332,829 
Interactive Media & Services - 17.8%   
Alphabet, Inc.:   
Class A (a) 40,434 65,345,792 
Class C (a) 16,678 27,035,205 
Eventbrite, Inc. (a) 961 8,870 
Facebook, Inc. Class A (a) 225,504 59,332,357 
InterActiveCorp (a) 8,591 1,037,106 
Match Group, Inc. (a) 75,702 8,840,480 
Tencent Holdings Ltd. sponsored ADR 221,683 16,923,280 
Twitter, Inc. (a) 288,638 11,938,068 
Yandex NV Series A (a) 124,042 7,141,098 
  197,602,256 
Media - 0.6%   
Charter Communications, Inc. Class A (a) 11,170 6,744,669 
Wireless Telecommunication Services - 0.4%   
T-Mobile U.S., Inc. 36,724 4,023,849 
TOTAL COMMUNICATION SERVICES  229,703,603 
CONSUMER DISCRETIONARY - 22.4%   
Automobiles - 2.9%   
Tesla, Inc. (a) 81,224 31,518,161 
Hotels, Restaurants & Leisure - 3.1%   
Caesars Entertainment, Inc. (a) 1,656 74,222 
Extended Stay America, Inc. unit 252,299 2,863,594 
Hilton Worldwide Holdings, Inc. 66,195 5,812,583 
Marriott International, Inc. Class A 102,647 9,533,853 
Starbucks Corp. 188,842 16,421,700 
  34,705,952 
Household Durables - 0.8%   
Lennar Corp. Class A 130,629 9,174,075 
Internet & Direct Marketing Retail - 12.0%   
Alibaba Group Holding Ltd. sponsored ADR (a) 33,839 10,310,405 
Amazon.com, Inc. (a) 35,651 108,241,784 
Expedia, Inc. 38,864 3,659,046 
MercadoLibre, Inc. (a) 5,146 6,247,501 
The Booking Holdings, Inc. (a) 2,910 4,721,475 
  133,180,211 
Multiline Retail - 0.5%   
Dollar Tree, Inc. (a) 63,448 5,730,623 
Specialty Retail - 1.6%   
Five Below, Inc. (a) 58,637 7,818,658 
Lowe's Companies, Inc. 57,958 9,163,160 
The Home Depot, Inc. 4,268 1,138,318 
  18,120,136 
Textiles, Apparel & Luxury Goods - 1.5%   
Kontoor Brands, Inc. 297 9,771 
lululemon athletica, Inc. (a) 42,355 13,523,528 
LVMH Moet Hennessy Louis Vuitton SE 6,810 3,192,172 
  16,725,471 
TOTAL CONSUMER DISCRETIONARY  249,154,629 
CONSUMER STAPLES - 2.1%   
Beverages - 1.5%   
Diageo PLC 166,103 5,368,097 
Kweichow Moutai Co. Ltd. (A Shares) 5,600 1,400,712 
Monster Beverage Corp. (a) 97,481 7,464,120 
PepsiCo, Inc. 19,215 2,561,167 
  16,794,096 
Food & Staples Retailing - 0.5%   
Costco Wholesale Corp. 15,587 5,574,223 
Food Products - 0.1%   
Lamb Weston Holdings, Inc. 8,728 553,792 
Mondelez International, Inc. 17,766 943,730 
  1,497,522 
TOTAL CONSUMER STAPLES  23,865,841 
ENERGY - 1.4%   
Oil, Gas & Consumable Fuels - 1.4%   
Cenovus Energy, Inc. (Canada) 7,288 23,850 
Centennial Resource Development, Inc. Class A (a)(b) 39,269 24,335 
EOG Resources, Inc. 562 19,243 
Reliance Industries Ltd. 26,413 418,438 
Reliance Industries Ltd. 396,200 10,919,359 
Reliance Industries Ltd. sponsored GDR (c) 82,530 4,530,897 
  15,936,122 
FINANCIALS - 2.6%   
Banks - 1.2%   
Huntington Bancshares, Inc. 803,845 8,392,142 
PacWest Bancorp 101,037 1,943,952 
Signature Bank 40,125 3,239,693 
  13,575,787 
Capital Markets - 0.9%   
London Stock Exchange Group PLC 35,465 3,823,053 
S&P Global, Inc. 17,240 5,563,865 
  9,386,918 
Consumer Finance - 0.5%   
Capital One Financial Corp. 78,426 5,731,372 
TOTAL FINANCIALS  28,694,077 
HEALTH CARE - 6.3%   
Biotechnology - 2.7%   
Alnylam Pharmaceuticals, Inc. (a) 12,122 1,490,642 
Amgen, Inc. 24,642 5,345,835 
Arcutis Biotherapeutics, Inc. (a) 17,840 317,909 
Ascendis Pharma A/S sponsored ADR (a) 5,753 939,753 
ChemoCentryx, Inc. (a) 10,160 487,680 
Chimerix, Inc. (a) 2,045 5,460 
GenSight Biologics SA (a)(b) 9,335 37,780 
Global Blood Therapeutics, Inc. (a) 61,251 3,238,953 
Ionis Pharmaceuticals, Inc. (a) 1,435 67,373 
Neurocrine Biosciences, Inc. (a) 33,587 3,314,029 
Regeneron Pharmaceuticals, Inc. (a) 14,511 7,887,599 
Sarepta Therapeutics, Inc. (a) 5,875 798,471 
Trevena, Inc. (a)(b) 19,639 51,454 
Vertex Pharmaceuticals, Inc. (a) 17,022 3,546,704 
Xencor, Inc. (a) 53,488 2,052,869 
  29,582,511 
Health Care Equipment & Supplies - 1.7%   
DexCom, Inc. (a) 18,384 5,875,159 
Insulet Corp. (a) 30,251 6,723,285 
Intuitive Surgical, Inc. (a) 6,380 4,255,970 
Masimo Corp. (a) 3,344 748,454 
Neuronetics, Inc. (a) 1,703 8,430 
Outset Medical, Inc. 1,932 89,780 
Pulmonx Corp. 21 883 
Tandem Diabetes Care, Inc. (a) 10,037 1,094,033 
  18,795,994 
Health Care Providers & Services - 0.5%   
Cigna Corp. 7,034 1,174,467 
Humana, Inc. 11,560 4,615,677 
  5,790,144 
Health Care Technology - 0.0%   
Castlight Health, Inc. Class B (a) 2,050 1,810 
Life Sciences Tools & Services - 1.0%   
10X Genomics, Inc. (a) 23,813 3,260,000 
Bruker Corp. 109,123 4,642,092 
Nanostring Technologies, Inc. (a) 87,387 3,202,734 
Sartorius Stedim Biotech 1,500 568,815 
  11,673,641 
Pharmaceuticals - 0.4%   
AstraZeneca PLC:   
(United Kingdom) 5,396 541,788 
sponsored ADR 65,741 3,297,569 
Elanco Animal Health, Inc. (a) 3,890 120,629 
TherapeuticsMD, Inc. (a)(b) 15,130 18,459 
  3,978,445 
TOTAL HEALTH CARE  69,822,545 
INDUSTRIALS - 2.3%   
Airlines - 0.1%   
Copa Holdings SA Class A 19,551 963,473 
Commercial Services & Supplies - 0.3%   
Copart, Inc. (a) 14,776 1,630,679 
Waste Connection, Inc. (United States) 16,974 1,685,858 
  3,316,537 
Industrial Conglomerates - 0.0%   
Roper Technologies, Inc. 1,522 565,179 
Professional Services - 0.5%   
Verisk Analytics, Inc. 29,128 5,183,910 
Road & Rail - 1.4%   
CSX Corp. 47,637 3,760,465 
Lyft, Inc. (a) 121,827 2,781,310 
Rumo SA (a) 476,700 1,523,659 
Uber Technologies, Inc. (a) 224,031 7,484,876 
  15,550,310 
TOTAL INDUSTRIALS  25,579,409 
INFORMATION TECHNOLOGY - 41.0%   
IT Services - 2.7%   
Fidelity National Information Services, Inc. 11,082 1,380,706 
Gartner, Inc. (a) 61,898 7,433,950 
MasterCard, Inc. Class A 30,410 8,777,542 
PayPal Holdings, Inc. (a) 51,201 9,530,042 
Reply SpA 12,500 1,343,715 
Shopify, Inc. Class A (a) 1,559 1,437,222 
Visa, Inc. Class A 2,687 488,255 
  30,391,432 
Semiconductors & Semiconductor Equipment - 9.8%   
Advanced Micro Devices, Inc. (a) 71,158 5,357,486 
Analog Devices, Inc. 21,976 2,604,815 
Applied Materials, Inc. 22,786 1,349,615 
Array Technologies, Inc. 9,048 333,419 
ASML Holding NV 16,579 5,988,501 
Lam Research Corp. 10,032 3,431,747 
Marvell Technology Group Ltd. 340,731 12,780,820 
Micron Technology, Inc. (a) 139,393 7,017,044 
NVIDIA Corp. 59,952 30,057,535 
NXP Semiconductors NV 113,741 15,368,684 
Qualcomm, Inc. 140,745 17,362,303 
Skyworks Solutions, Inc. 4,571 645,837 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 78,073 6,547,983 
  108,845,789 
Software - 16.7%   
Adobe, Inc. (a) 34,982 15,640,452 
ANSYS, Inc. (a) 5,489 1,670,687 
Aspen Technology, Inc. (a) 64,305 7,061,332 
Autodesk, Inc. (a) 19,068 4,491,277 
Dropbox, Inc. Class A (a) 8,484 154,918 
Duck Creek Technologies, Inc. (a) 1,120 48,574 
Dynatrace, Inc. (a) 15,316 540,808 
Elastic NV (a) 74,031 7,507,484 
Epic Games, Inc. (d)(e) 1,000 575,000 
Five9, Inc. (a) 10,864 1,648,286 
Globant SA (a) 5,529 998,593 
HIVE Blockchain Technologies Ltd. (a) 110,176 42,175 
Intuit, Inc. 18,086 5,691,302 
Manhattan Associates, Inc. (a) 44,393 3,795,602 
Microsoft Corp. 566,038 114,605,714 
Netcompany Group A/S (a)(c) 2,144 178,108 
NICE Systems Ltd. sponsored ADR (a) 14,322 3,269,140 
Ping Identity Holding Corp. (a) 134,317 3,719,238 
Salesforce.com, Inc. (a) 53,287 12,376,971 
Workday, Inc. Class A (a) 6,422 1,349,391 
  185,365,052 
Technology Hardware, Storage & Peripherals - 11.8%   
Apple, Inc. 1,158,416 126,105,160 
Samsung Electronics Co. Ltd. 80,722 4,048,640 
Western Digital Corp. 13,491 509,015 
  130,662,815 
TOTAL INFORMATION TECHNOLOGY  455,265,088 
MATERIALS - 0.8%   
Chemicals - 0.4%   
LG Chemical Ltd. 4,479 2,436,956 
Livent Corp. (a)(b) 167,404 1,799,593 
  4,236,549 
Paper & Forest Products - 0.4%   
Suzano Papel e Celulose SA (a) 473,000 4,125,803 
TOTAL MATERIALS  8,362,352 
REAL ESTATE - 0.6%   
Equity Real Estate Investment Trusts (REITs) - 0.1%   
Equinix, Inc. 2,305 1,685,508 
Real Estate Management & Development - 0.5%   
KE Holdings, Inc. ADR (a) 77,021 5,372,215 
TOTAL REAL ESTATE  7,057,723 
TOTAL COMMON STOCKS   
(Cost $901,462,737)  1,113,441,389 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Automobiles - 0.0%   
Waymo LLC Series A2 (d)(e)   
(Cost $211,834) 2,467 211,834 
Money Market Funds - 0.1%   
Fidelity Securities Lending Cash Central Fund 0.11% (f)(g)   
(Cost $835,147) 835,063 835,147 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $902,509,718)  1,114,488,370 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (3,066,145) 
NET ASSETS - 100%  $1,111,422,225 

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 $4,709,005 or 0.4% of net assets.

 (d) Restricted securities (including private placements) - 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 $786,834 or 0.1% of net assets.

 (e) Level 3 security

 (f) 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.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
Epic Games, Inc. 7/13/20 - 7/30/20 $575,000 
Waymo LLC Series A2 5/8/20 $211,834 

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 $(2,075) 
Fidelity Securities Lending Cash Central Fund 4,990 
Total $2,915 

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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