Quarterly Holdings Report
for
Fidelity® Series Small Cap Opportunities Fund
October 31, 2020
Schedule of Investments October 31, 2020 (Unaudited)
Showing Percentage of Net Assets
| Common Stocks - 98.8% | |||
| Shares | Value | ||
| COMMUNICATION SERVICES - 2.0% | |||
| Diversified Telecommunication Services - 0.7% | |||
| Bandwidth, Inc. (a)(b) | 131,609 | $21,104,161 | |
| Cogent Communications Group, Inc. | 243,131 | 13,566,710 | |
| Iridium Communications, Inc. (a) | 14,000 | 369,740 | |
| 35,040,611 | |||
| Media - 1.3% | |||
| 4Imprint Group PLC (a) | 263,898 | 7,076,913 | |
| Nexstar Broadcasting Group, Inc. Class A | 126,561 | 10,428,626 | |
| TechTarget, Inc. (a) | 329,585 | 14,435,823 | |
| Tegna, Inc. | 1,561,142 | 18,780,538 | |
| The New York Times Co. Class A (b) | 258,830 | 10,265,198 | |
| 60,987,098 | |||
| TOTAL COMMUNICATION SERVICES | 96,027,709 | ||
| CONSUMER DISCRETIONARY - 13.0% | |||
| Auto Components - 0.6% | |||
| Fox Factory Holding Corp. (a) | 321,200 | 27,006,496 | |
| Hotels, Restaurants & Leisure - 4.5% | |||
| Boyd Gaming Corp. | 934,993 | 29,657,978 | |
| Brinker International, Inc. | 408,000 | 17,764,320 | |
| Caesars Entertainment, Inc. (a) | 738,000 | 33,077,160 | |
| Churchill Downs, Inc. | 242,700 | 36,198,705 | |
| Dunkin' Brands Group, Inc. | 188,900 | 18,835,219 | |
| Extended Stay America, Inc. unit | 1,125,000 | 12,768,750 | |
| Marriott Vacations Worldwide Corp. | 291,700 | 28,178,220 | |
| Texas Roadhouse, Inc. Class A | 160,300 | 11,225,809 | |
| Wendy's Co. | 543,300 | 11,871,105 | |
| Wingstop, Inc. | 175,900 | 20,462,447 | |
| 220,039,713 | |||
| Household Durables - 2.3% | |||
| M.D.C. Holdings, Inc. | 613,900 | 26,716,928 | |
| Skyline Champion Corp. (a) | 608,898 | 15,618,234 | |
| Taylor Morrison Home Corp. (a) | 1,252,700 | 27,058,320 | |
| Tempur Sealy International, Inc. (a) | 156,000 | 13,884,000 | |
| TopBuild Corp. (a) | 205,389 | 31,467,649 | |
| 114,745,131 | |||
| Internet & Direct Marketing Retail - 0.5% | |||
| 1-800-FLOWERS.com, Inc. Class A (a) | 636,200 | 12,615,846 | |
| Overstock.com, Inc. (a)(b) | 187,500 | 10,518,750 | |
| 23,134,596 | |||
| Leisure Products - 1.0% | |||
| Brunswick Corp. | 252,700 | 16,099,517 | |
| Clarus Corp. | 713,487 | 11,066,183 | |
| YETI Holdings, Inc. (a) | 444,100 | 21,974,068 | |
| 49,139,768 | |||
| Specialty Retail - 2.0% | |||
| Dick's Sporting Goods, Inc. (b) | 334,400 | 18,943,760 | |
| Lithia Motors, Inc. Class A (sub. vtg.) | 143,100 | 32,851,467 | |
| Murphy U.S.A., Inc. | 137,800 | 16,851,562 | |
| National Vision Holdings, Inc. (a) | 539,200 | 21,745,936 | |
| Williams-Sonoma, Inc. | 99,200 | 9,048,032 | |
| 99,440,757 | |||
| Textiles, Apparel & Luxury Goods - 2.1% | |||
| Crocs, Inc. (a) | 667,700 | 34,940,741 | |
| Deckers Outdoor Corp. (a) | 149,400 | 37,853,478 | |
| G-III Apparel Group Ltd. (a)(b) | 1,370,900 | 18,479,732 | |
| Oxford Industries, Inc. (b) | 317,100 | 13,055,007 | |
| 104,328,958 | |||
| TOTAL CONSUMER DISCRETIONARY | 637,835,419 | ||
| CONSUMER STAPLES - 3.7% | |||
| Food & Staples Retailing - 1.2% | |||
| BJ's Wholesale Club Holdings, Inc. (a) | 742,800 | 28,441,812 | |
| Casey's General Stores, Inc. | 104,500 | 17,615,565 | |
| Grocery Outlet Holding Corp. (a)(b) | 296,100 | 13,034,322 | |
| 59,091,699 | |||
| Food Products - 1.7% | |||
| Darling Ingredients, Inc. (a) | 404,500 | 17,393,500 | |
| Freshpet, Inc. (a) | 245,400 | 28,098,300 | |
| Nomad Foods Ltd. (a) | 713,400 | 17,299,950 | |
| The Simply Good Foods Co. (a) | 919,900 | 17,294,120 | |
| 80,085,870 | |||
| Household Products - 0.5% | |||
| Central Garden & Pet Co. (a) | 347,500 | 13,538,600 | |
| Reynolds Consumer Products, Inc. | 425,700 | 12,021,768 | |
| 25,560,368 | |||
| Personal Products - 0.3% | |||
| BellRing Brands, Inc. Class A (a) | 784,500 | 14,348,505 | |
| TOTAL CONSUMER STAPLES | 179,086,442 | ||
| ENERGY - 1.4% | |||
| Energy Equipment & Services - 0.3% | |||
| Liberty Oilfield Services, Inc. Class A (b) | 2,193,554 | 14,652,941 | |
| Oil, Gas & Consumable Fuels - 1.1% | |||
| Diamondback Energy, Inc. | 305,493 | 7,930,598 | |
| EQT Corp. | 1,018,100 | 15,414,034 | |
| Murphy Oil Corp. | 1,356,700 | 10,473,724 | |
| Northern Oil & Gas, Inc. (a)(b) | 1,755,646 | 6,495,890 | |
| Parsley Energy, Inc. Class A | 1,323,400 | 13,247,234 | |
| 53,561,480 | |||
| TOTAL ENERGY | 68,214,421 | ||
| FINANCIALS - 15.4% | |||
| Banks - 7.4% | |||
| Camden National Corp. | 392,324 | 12,542,598 | |
| City Holding Co. | 269,678 | 16,296,642 | |
| Community Bank System, Inc. | 346,300 | 20,081,937 | |
| ConnectOne Bancorp, Inc. | 1,637,647 | 25,268,893 | |
| First Bancorp, Puerto Rico | 4,454,294 | 28,908,368 | |
| First Interstate Bancsystem, Inc. | 771,138 | 27,221,171 | |
| First Merchants Corp. | 750,470 | 19,594,772 | |
| Glacier Bancorp, Inc. | 979,319 | 35,059,620 | |
| Heartland Financial U.S.A., Inc. | 678,317 | 22,343,762 | |
| Preferred Bank, Los Angeles | 512,101 | 17,324,377 | |
| Signature Bank | 259,700 | 20,968,178 | |
| Synovus Financial Corp. | 1,169,200 | 30,399,200 | |
| Trico Bancshares | 721,243 | 20,865,560 | |
| United Community Bank, Inc. | 1,565,681 | 32,785,360 | |
| Western Alliance Bancorp. | 749,300 | 30,871,160 | |
| 360,531,598 | |||
| Capital Markets - 4.0% | |||
| AllianceBernstein Holding LP | 809,952 | 23,537,205 | |
| Cohen & Steers, Inc. | 334,900 | 18,858,219 | |
| Focus Financial Partners, Inc. Class A (a) | 557,926 | 20,369,878 | |
| Hamilton Lane, Inc. Class A | 366,898 | 25,572,791 | |
| Houlihan Lokey | 439,178 | 27,536,461 | |
| Lazard Ltd. Class A | 752,100 | 25,323,207 | |
| LPL Financial | 233,300 | 18,647,669 | |
| Morningstar, Inc. | 52,138 | 9,926,032 | |
| PJT Partners, Inc. | 372,241 | 25,185,826 | |
| 194,957,288 | |||
| Consumer Finance - 0.3% | |||
| Green Dot Corp. Class A (a) | 329,017 | 17,543,186 | |
| Diversified Financial Services - 0.5% | |||
| Cannae Holdings, Inc. (a) | 666,997 | 24,665,549 | |
| Insurance - 1.6% | |||
| First American Financial Corp. | 502,300 | 22,397,557 | |
| Old Republic International Corp. | 1,115,800 | 18,165,224 | |
| Primerica, Inc. | 195,000 | 21,496,800 | |
| White Mountains Insurance Group Ltd. | 17,592 | 15,979,341 | |
| 78,038,922 | |||
| Mortgage Real Estate Investment Trusts - 0.4% | |||
| Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 501,800 | 21,000,330 | |
| Thrifts & Mortgage Finance - 1.2% | |||
| Essent Group Ltd. | 752,700 | 29,995,095 | |
| NMI Holdings, Inc. (a) | 1,335,408 | 28,697,918 | |
| 58,693,013 | |||
| TOTAL FINANCIALS | 755,429,886 | ||
| HEALTH CARE - 21.2% | |||
| Biotechnology - 12.4% | |||
| Abcam PLC ADR | 998,275 | 18,967,225 | |
| Acceleron Pharma, Inc. (a) | 95,800 | 10,018,764 | |
| ADC Therapeutics SA (a) | 432,710 | 12,414,450 | |
| Agios Pharmaceuticals, Inc. (a) | 447,545 | 17,933,128 | |
| Aprea Therapeutics, Inc. | 374,700 | 8,172,207 | |
| Arcutis Biotherapeutics, Inc. (a) | 671,500 | 11,966,130 | |
| Argenx SE ADR (a) | 126,600 | 31,413,258 | |
| Ascendis Pharma A/S sponsored ADR (a) | 155,748 | 25,441,436 | |
| ChemoCentryx, Inc. (a) | 359,000 | 17,232,000 | |
| Crinetics Pharmaceuticals, Inc. (a) | 594,928 | 7,186,730 | |
| FibroGen, Inc. (a) | 496,700 | 19,063,346 | |
| Global Blood Therapeutics, Inc. (a) | 265,500 | 14,039,640 | |
| Insmed, Inc. (a) | 936,000 | 30,831,840 | |
| Intercept Pharmaceuticals, Inc. (a) | 148,598 | 4,129,538 | |
| Keros Therapeutics, Inc. | 295,804 | 16,446,702 | |
| Kura Oncology, Inc. (a) | 791,038 | 24,719,938 | |
| Mirati Therapeutics, Inc. (a) | 211,000 | 45,816,540 | |
| Morphic Holding, Inc. (a) | 479,962 | 12,915,777 | |
| Neurocrine Biosciences, Inc. (a) | 240,200 | 23,700,534 | |
| Novavax, Inc. (a)(b) | 212,300 | 17,134,733 | |
| Passage Bio, Inc. | 712,745 | 11,981,243 | |
| Poseida Therapeutics, Inc. (a)(b) | 115,100 | 1,324,801 | |
| Prelude Therapeutics, Inc. (b) | 115,457 | 4,067,550 | |
| Prelude Therapeutics, Inc. | 339,707 | 10,771,090 | |
| Protagonist Therapeutics, Inc. (a) | 1,045,923 | 19,820,241 | |
| PTC Therapeutics, Inc. (a) | 472,600 | 24,664,994 | |
| Revolution Medicines, Inc. | 548,142 | 16,548,407 | |
| Sage Therapeutics, Inc. (a) | 134,775 | 9,889,790 | |
| Sarepta Therapeutics, Inc. (a) | 164,800 | 22,397,968 | |
| Shattuck Labs, Inc. | 65,700 | 1,698,345 | |
| Stoke Therapeutics, Inc. (a) | 176,717 | 6,784,166 | |
| Taysha Gene Therapies, Inc. | 27,400 | 569,920 | |
| TG Therapeutics, Inc. (a) | 980,200 | 24,769,654 | |
| Turning Point Therapeutics, Inc. (a) | 336,700 | 31,040,373 | |
| Vaxcyte, Inc. | 272,672 | 10,189,753 | |
| Viela Bio, Inc. | 537,982 | 17,167,006 | |
| Xenon Pharmaceuticals, Inc. (a)(b) | 1,038,759 | 10,096,737 | |
| Zentalis Pharmaceuticals, Inc. | 203,826 | 8,069,471 | |
| Zymeworks, Inc. (a) | 145,400 | 5,688,048 | |
| 607,083,473 | |||
| Health Care Equipment & Supplies - 2.1% | |||
| Axonics Modulation Technologies, Inc. (a) | 228,400 | 10,709,676 | |
| Haemonetics Corp. (a) | 261,700 | 26,455,253 | |
| Integer Holdings Corp. (a) | 424,500 | 24,812,025 | |
| Masimo Corp. (a) | 49,447 | 11,067,228 | |
| Nevro Corp. (a) | 195,100 | 29,110,871 | |
| 102,155,053 | |||
| Health Care Providers & Services - 2.2% | |||
| Chemed Corp. | 38,400 | 18,367,488 | |
| LHC Group, Inc. (a) | 157,500 | 34,106,625 | |
| Molina Healthcare, Inc. (a) | 205,700 | 38,356,879 | |
| R1 RCM, Inc. (a) | 931,900 | 16,699,648 | |
| 107,530,640 | |||
| Health Care Technology - 1.7% | |||
| HMS Holdings Corp. (a) | 637,600 | 16,972,912 | |
| Inovalon Holdings, Inc. Class A (a) | 557,212 | 10,581,456 | |
| Inspire Medical Systems, Inc. (a) | 269,743 | 32,215,406 | |
| Phreesia, Inc. (a) | 687,100 | 25,402,087 | |
| 85,171,861 | |||
| Life Sciences Tools & Services - 2.0% | |||
| Bio-Rad Laboratories, Inc. Class A (a) | 59,100 | 34,657,422 | |
| Bruker Corp. | 557,400 | 23,711,796 | |
| Syneos Health, Inc. (a) | 700,100 | 37,161,308 | |
| 95,530,526 | |||
| Pharmaceuticals - 0.8% | |||
| Arvinas Holding Co. LLC (a) | 790,700 | 16,533,537 | |
| Graybug Vision, Inc. | 336,105 | 4,423,142 | |
| IMARA, Inc. | 315,398 | 4,986,442 | |
| Theravance Biopharma, Inc. (a) | 683,172 | 12,918,783 | |
| 38,861,904 | |||
| TOTAL HEALTH CARE | 1,036,333,457 | ||
| INDUSTRIALS - 15.0% | |||
| Aerospace & Defense - 0.4% | |||
| Kaman Corp. | 472,843 | 18,752,953 | |
| Air Freight & Logistics - 0.7% | |||
| Air Transport Services Group, Inc. (a) | 1,180,669 | 33,105,959 | |
| Building Products - 2.9% | |||
| A.O. Smith Corp. | 328,700 | 16,990,503 | |
| Builders FirstSource, Inc. (a) | 1,270,100 | 38,484,030 | |
| Fortune Brands Home & Security, Inc. | 257,300 | 20,807,851 | |
| Jeld-Wen Holding, Inc. (a) | 1,342,700 | 28,236,981 | |
| Simpson Manufacturing Co. Ltd. | 394,985 | 35,043,069 | |
| 139,562,434 | |||
| Commercial Services & Supplies - 1.1% | |||
| MSA Safety, Inc. | 166,900 | 22,017,448 | |
| Tetra Tech, Inc. | 318,816 | 32,171,723 | |
| 54,189,171 | |||
| Construction & Engineering - 2.5% | |||
| Comfort Systems U.S.A., Inc. | 709,130 | 32,478,154 | |
| Construction Partners, Inc. Class A (a)(b) | 914,102 | 18,629,399 | |
| Dycom Industries, Inc. (a) | 432,056 | 28,057,717 | |
| EMCOR Group, Inc. | 386,498 | 26,355,299 | |
| Jacobs Engineering Group, Inc. | 198,173 | 18,826,435 | |
| 124,347,004 | |||
| Electrical Equipment - 1.3% | |||
| Atkore International Group, Inc. (a) | 1,064,681 | 22,028,250 | |
| Bloom Energy Corp. Class A (a) | 923,400 | 11,671,776 | |
| Generac Holdings, Inc. (a) | 150,573 | 31,642,916 | |
| 65,342,942 | |||
| Machinery - 3.3% | |||
| ESCO Technologies, Inc. | 392,878 | 32,879,960 | |
| Federal Signal Corp. | 776,421 | 22,267,754 | |
| ITT, Inc. | 502,585 | 30,411,418 | |
| Kadant, Inc. | 192,400 | 22,149,088 | |
| SPX Corp. (a) | 418,300 | 17,731,737 | |
| SPX Flow, Inc. (a) | 822,407 | 34,828,936 | |
| 160,268,893 | |||
| Professional Services - 1.2% | |||
| ASGN, Inc. (a) | 448,600 | 29,912,648 | |
| TriNet Group, Inc. (a) | 443,600 | 30,572,912 | |
| 60,485,560 | |||
| Road & Rail - 0.9% | |||
| Landstar System, Inc. | 118,129 | 14,730,686 | |
| Saia, Inc. (a) | 205,000 | 30,270,300 | |
| 45,000,986 | |||
| Trading Companies & Distributors - 0.7% | |||
| Rush Enterprises, Inc. Class A | 536,264 | 19,219,702 | |
| Univar, Inc. (a) | 990,954 | 16,439,927 | |
| 35,659,629 | |||
| TOTAL INDUSTRIALS | 736,715,531 | ||
| INFORMATION TECHNOLOGY - 13.6% | |||
| Electronic Equipment & Components - 1.5% | |||
| Fabrinet (a) | 392,874 | 23,580,297 | |
| II-VI, Inc. (a)(b) | 549,900 | 25,003,953 | |
| Insight Enterprises, Inc. (a) | 493,700 | 26,338,895 | |
| TTM Technologies, Inc. (a) | 103,200 | 1,224,984 | |
| 76,148,129 | |||
| IT Services - 3.3% | |||
| CACI International, Inc. Class A (a) | 68,171 | 14,215,699 | |
| Endava PLC ADR (a) | 479,506 | 30,640,433 | |
| EPAM Systems, Inc. (a) | 42,348 | 13,083,415 | |
| ExlService Holdings, Inc. (a) | 300,784 | 22,781,380 | |
| ManTech International Corp. Class A | 310,744 | 20,161,071 | |
| Shift4 Payments, Inc. | 721,900 | 36,751,929 | |
| WNS Holdings Ltd. sponsored ADR (a) | 436,603 | 25,165,797 | |
| 162,799,724 | |||
| Semiconductors & Semiconductor Equipment - 3.8% | |||
| Advanced Energy Industries, Inc. (a) | 413,099 | 27,871,790 | |
| Array Technologies, Inc. (b) | 473,600 | 17,452,160 | |
| CMC Materials, Inc. | 244,300 | 34,737,017 | |
| Entegris, Inc. | 368,513 | 27,553,717 | |
| MKS Instruments, Inc. | 185,900 | 20,149,701 | |
| Semtech Corp. (a) | 491,800 | 26,994,902 | |
| Synaptics, Inc. (a) | 405,500 | 31,089,685 | |
| 185,848,972 | |||
| Software - 5.0% | |||
| Altair Engineering, Inc. Class A (a)(b) | 399,900 | 17,207,697 | |
| Cerence, Inc. (a)(b) | 388,100 | 21,182,498 | |
| Digital Turbine, Inc. (a) | 716,017 | 20,521,047 | |
| Duck Creek Technologies, Inc. (a)(b) | 525,900 | 22,808,283 | |
| Everbridge, Inc. (a)(b) | 135,300 | 14,164,557 | |
| Five9, Inc. (a) | 202,700 | 30,753,644 | |
| Manhattan Associates, Inc. (a) | 239,300 | 20,460,150 | |
| Model N, Inc. (a) | 579,100 | 20,401,693 | |
| Pegasystems, Inc. | 123,400 | 14,299,592 | |
| Ping Identity Holding Corp. (a)(b) | 553,500 | 15,326,415 | |
| Tenable Holdings, Inc. (a) | 754,400 | 25,732,584 | |
| Workiva, Inc. (a) | 366,100 | 20,248,991 | |
| 243,107,151 | |||
| TOTAL INFORMATION TECHNOLOGY | 667,903,976 | ||
| MATERIALS - 4.0% | |||
| Chemicals - 1.3% | |||
| Chase Corp. | 202,794 | 19,297,877 | |
| Innospec, Inc. | 358,600 | 23,717,804 | |
| Tronox Holdings PLC | 2,259,900 | 22,079,223 | |
| 65,094,904 | |||
| Construction Materials - 0.5% | |||
| Eagle Materials, Inc. | 282,600 | 24,091,650 | |
| Containers & Packaging - 0.4% | |||
| O-I Glass, Inc. | 1,905,400 | 17,967,922 | |
| Metals & Mining - 1.1% | |||
| B2Gold Corp. | 4,774,200 | 30,709,971 | |
| Commercial Metals Co. | 1,219,300 | 25,178,545 | |
| 55,888,516 | |||
| Paper & Forest Products - 0.7% | |||
| Louisiana-Pacific Corp. | 1,107,300 | 31,646,634 | |
| TOTAL MATERIALS | 194,689,626 | ||
| REAL ESTATE - 6.3% | |||
| Equity Real Estate Investment Trusts (REITs) - 5.8% | |||
| CoreSite Realty Corp. | 207,400 | 24,755,264 | |
| CubeSmart | 690,900 | 23,442,237 | |
| Essential Properties Realty Trust, Inc. | 734,600 | 12,135,592 | |
| Four Corners Property Trust, Inc. | 1,161,800 | 29,440,012 | |
| Highwoods Properties, Inc. (SBI) | 713,392 | 21,237,680 | |
| Lexington Corporate Properties Trust | 2,839,300 | 28,194,249 | |
| Potlatch Corp. | 739,400 | 30,722,070 | |
| Rexford Industrial Realty, Inc. | 562,000 | 26,110,520 | |
| RLJ Lodging Trust | 2,913,700 | 23,834,066 | |
| Sunstone Hotel Investors, Inc. | 3,877,100 | 28,768,082 | |
| Terreno Realty Corp. | 624,000 | 35,118,720 | |
| 283,758,492 | |||
| Real Estate Management & Development - 0.5% | |||
| Cushman & Wakefield PLC (a) | 2,142,700 | 25,112,444 | |
| TOTAL REAL ESTATE | 308,870,936 | ||
| UTILITIES - 3.2% | |||
| Electric Utilities - 1.2% | |||
| Allete, Inc. | 353,800 | 18,249,004 | |
| IDACORP, Inc. | 167,800 | 14,721,094 | |
| PNM Resources, Inc. | 483,662 | 24,183,100 | |
| 57,153,198 | |||
| Gas Utilities - 0.8% | |||
| Brookfield Infrastructure Corp. A Shares (b) | 424,900 | 23,144,303 | |
| Spire, Inc. | 321,608 | 18,022,912 | |
| 41,167,215 | |||
| Independent Power and Renewable Electricity Producers - 0.8% | |||
| Clearway Energy, Inc. Class C | 886,000 | 24,949,760 | |
| Vistra Corp. | 801,751 | 13,926,415 | |
| 38,876,175 | |||
| Multi-Utilities - 0.4% | |||
| Algonquin Power & Utilities Corp. (b) | 1,349,100 | 20,438,865 | |
| TOTAL UTILITIES | 157,635,453 | ||
| TOTAL COMMON STOCKS | |||
| (Cost $4,091,353,274) | 4,838,742,856 | ||
| Convertible Preferred Stocks - 0.1% | |||
| HEALTH CARE - 0.1% | |||
| Pharmaceuticals - 0.1% | |||
| Aristea Therapeutics, Inc. Series B (c)(d) | |||
| (Cost $3,064,801) | 555,852 | 3,064,801 | |
| Principal Amount | Value | ||
| U.S. Treasury Obligations - 0.0% | |||
| U.S. Treasury Bills, yield at date of purchase 0.09% to 0.1% 12/17/20 to 1/28/21 (e) | |||
| (Cost $1,779,762) | 1,780,000 | 1,779,795 | |
| Shares | Value | ||
| Money Market Funds - 3.4% | |||
| Fidelity Cash Central Fund 0.10% (f) | 56,782,268 | $56,793,624 | |
| Fidelity Securities Lending Cash Central Fund 0.11% (f)(g)(g) | 112,294,633 | 112,305,863 | |
| TOTAL MONEY MARKET FUNDS | |||
| (Cost $169,099,134) | 169,099,487 | ||
| TOTAL INVESTMENT IN SECURITIES - 102.3% | |||
| (Cost $4,265,296,971) | 5,012,686,939 | ||
| NET OTHER ASSETS (LIABILITIES) - (2.3)% | (113,215,666) | ||
| NET ASSETS - 100% | $4,899,471,273 |
| Futures Contracts | |||||
| Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
| Purchased | |||||
| Equity Index Contracts | |||||
| CME E-mini Russell 2000 Index Contracts (United States) | 191 | Dec. 2020 | $14,676,440 | $(891,720) | $(891,720) |
The notional amount of futures purchased as a percentage of Net Assets is 0.3%
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) 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 $3,064,801 or 0.1% of net assets.
(d) Level 3 security
(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $1,319,847.
(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 |
| Aristea Therapeutics, Inc. Series B | 10/6/20 | $3,064,801 |
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 | $17,861 |
| Fidelity Securities Lending Cash Central Fund | 112,596 |
| Total | $130,457 |
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, changes in interest rates and credit quality. 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.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 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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