NPORT-EX 2 QTLY_1388_20221031.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Small Cap Growth Fund
October 31, 2022
SCP-NPRT1-1222
1.823237.118
Common Stocks - 95.2%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 3.6%
 
 
 
Diversified Telecommunication Services - 0.2%
 
 
 
IDT Corp. Class B (a)
 
329,281
8,581,063
Entertainment - 0.2%
 
 
 
World Wrestling Entertainment, Inc. Class A (b)
 
127,200
10,034,808
Interactive Media & Services - 1.0%
 
 
 
Bumble, Inc. (a)(b)
 
991,963
25,195,860
Cars.com, Inc. (a)
 
1,747,731
24,258,506
 
 
 
49,454,366
Media - 1.7%
 
 
 
Nexstar Broadcasting Group, Inc. Class A
 
132,405
22,680,977
TechTarget, Inc. (a)(b)
 
1,020,176
65,852,361
 
 
 
88,533,338
Wireless Telecommunication Services - 0.5%
 
 
 
Gogo, Inc. (a)
 
1,674,619
23,813,082
TOTAL COMMUNICATION SERVICES
 
 
180,416,657
CONSUMER DISCRETIONARY - 11.9%
 
 
 
Auto Components - 0.9%
 
 
 
Autoliv, Inc.
 
165,026
13,259,839
Fox Factory Holding Corp. (a)
 
232,740
20,446,209
Gentherm, Inc. (a)
 
224,100
13,091,922
 
 
 
46,797,970
Diversified Consumer Services - 1.4%
 
 
 
Duolingo, Inc. (a)(b)
 
142,761
11,683,560
Grand Canyon Education, Inc. (a)
 
285,907
28,770,821
H&R Block, Inc.
 
483,729
19,905,448
Rover Group, Inc. Class A (a)(b)(c)
 
2,413,974
10,597,346
 
 
 
70,957,175
Hotels, Restaurants & Leisure - 3.1%
 
 
 
Churchill Downs, Inc.
 
171,776
35,713,948
Dutch Bros, Inc. (a)(b)
 
446,666
16,486,442
Everi Holdings, Inc. (a)
 
852,344
16,177,489
Kura Sushi U.S.A., Inc. Class A (a)(b)
 
242,881
19,194,885
Lindblad Expeditions Holdings (a)(c)
 
4,053,793
34,011,323
SeaWorld Entertainment, Inc. (a)
 
590,145
34,322,833
 
 
 
155,906,920
Household Durables - 1.0%
 
 
 
GoPro, Inc. Class A (a)
 
1,782,234
9,713,175
Helen of Troy Ltd. (a)
 
191,096
18,081,504
LGI Homes, Inc. (a)
 
113,098
10,410,671
Lovesac (a)(b)
 
558,233
13,587,391
 
 
 
51,792,741
Internet & Direct Marketing Retail - 0.4%
 
 
 
BARK, Inc. warrants 8/29/25 (a)
 
571,317
110,664
Porch Group, Inc. Class A (a)(b)
 
3,157,693
4,294,462
thredUP, Inc. (a)
 
1,189,424
1,462,992
Xometry, Inc. (a)(b)
 
203,481
12,221,069
 
 
 
18,089,187
Specialty Retail - 3.4%
 
 
 
Aritzia, Inc. (a)
 
998,296
38,719,830
Dick's Sporting Goods, Inc.
 
222,117
25,268,030
Fanatics, Inc. Class A (a)(d)(e)
 
726,062
55,304,143
Five Below, Inc. (a)
 
104,849
15,344,651
Floor & Decor Holdings, Inc. Class A (a)(b)
 
312,407
22,921,302
Lithia Motors, Inc. Class A (sub. vtg.)
 
63,167
12,516,541
 
 
 
170,074,497
Textiles, Apparel & Luxury Goods - 1.7%
 
 
 
Algolia, Inc. (d)(e)
 
234,640
3,676,809
Crocs, Inc. (a)
 
797,383
56,414,847
Kontoor Brands, Inc. (b)
 
696,797
24,875,653
 
 
 
84,967,309
TOTAL CONSUMER DISCRETIONARY
 
 
598,585,799
CONSUMER STAPLES - 4.3%
 
 
 
Beverages - 0.5%
 
 
 
Boston Beer Co., Inc. Class A (a)
 
71,481
26,683,142
Food & Staples Retailing - 3.4%
 
 
 
BJ's Wholesale Club Holdings, Inc. (a)
 
417,771
32,335,475
Casey's General Stores, Inc.
 
150,746
35,080,102
Grocery Outlet Holding Corp. (a)
 
334,033
11,547,521
Performance Food Group Co. (a)
 
1,171,761
60,978,442
U.S. Foods Holding Corp. (a)
 
1,023,289
30,453,081
 
 
 
170,394,621
Food Products - 0.1%
 
 
 
Freshpet, Inc. (a)
 
94,115
5,548,079
The Real Good Food Co. LLC:
 
 
 
 Class B (e)
 
248,958
2
 Class B unit (f)
 
248,958
1,665,529
 
 
 
7,213,610
Personal Products - 0.3%
 
 
 
The Beauty Health Co. (a)(b)
 
1,126,902
12,880,490
TOTAL CONSUMER STAPLES
 
 
217,171,863
ENERGY - 5.1%
 
 
 
Energy Equipment & Services - 0.7%
 
 
 
TechnipFMC PLC (a)
 
3,278,320
34,717,409
Oil, Gas & Consumable Fuels - 4.4%
 
 
 
Antero Resources Corp. (a)
 
928,128
34,025,172
Civitas Resources, Inc.
 
222,250
15,537,498
Denbury, Inc. (a)
 
507,887
46,425,951
Enviva, Inc. (b)
 
383,182
22,929,611
Genesis Energy LP
 
3,149,037
36,182,435
HF Sinclair Corp.
 
248,408
15,195,117
Northern Oil & Gas, Inc.
 
484,645
16,545,780
PDC Energy, Inc.
 
150,359
10,846,898
Range Resources Corp.
 
896,139
25,522,039
 
 
 
223,210,501
TOTAL ENERGY
 
 
257,927,910
FINANCIALS - 5.3%
 
 
 
Banks - 1.5%
 
 
 
East West Bancorp, Inc.
 
151,607
10,850,513
First Interstate Bancsystem, Inc.
 
272,970
12,450,162
Glacier Bancorp, Inc.
 
238,557
13,664,545
PacWest Bancorp
 
377,952
9,395,887
Pinnacle Financial Partners, Inc.
 
165,012
13,694,346
Silvergate Capital Corp. (a)
 
198,629
11,274,182
Starling Bank Ltd. Series D (a)(d)(e)
 
1,942,800
6,282,969
 
 
 
77,612,604
Capital Markets - 2.1%
 
 
 
Impax Asset Management Group PLC
 
4,706
36,159
Lazard Ltd. Class A
 
377,232
14,225,419
LPL Financial
 
129,949
33,221,462
Morningstar, Inc.
 
40,351
9,368,695
Perella Weinberg Partners (a)(d)
 
2,039,500
16,071,260
StepStone Group, Inc. Class A
 
736,146
21,731,030
StoneX Group, Inc. (a)
 
97,476
9,096,460
 
 
 
103,750,485
Insurance - 1.3%
 
 
 
American Financial Group, Inc.
 
147,608
21,419,397
Assurant, Inc.
 
108,450
14,734,017
BRP Group, Inc. (a)
 
1,111,581
31,513,321
 
 
 
67,666,735
Thrifts & Mortgage Finance - 0.4%
 
 
 
Walker & Dunlop, Inc.
 
195,650
17,600,674
TOTAL FINANCIALS
 
 
266,630,498
HEALTH CARE - 22.9%
 
 
 
Biotechnology - 8.4%
 
 
 
ALX Oncology Holdings, Inc. (a)(b)
 
793,122
9,628,501
Argenx SE ADR (a)
 
95,246
36,948,781
Ascendis Pharma A/S sponsored ADR (a)
 
225,399
25,920,885
Bicycle Therapeutics PLC ADR (a)
 
170,824
4,227,894
Blueprint Medicines Corp. (a)
 
470,409
24,386,003
Celldex Therapeutics, Inc. (a)
 
540,519
18,988,432
Century Therapeutics, Inc. (a)
 
431,214
4,527,747
Cyteir Therapeutics, Inc. (a)
 
635,854
1,176,330
Cytokinetics, Inc. (a)
 
781,429
34,117,190
Day One Biopharmaceuticals, Inc. (a)
 
699,098
14,778,932
Erasca, Inc. (a)
 
994,704
8,126,732
Exelixis, Inc. (a)
 
698,573
11,582,340
Graphite Bio, Inc. (a)
 
449,219
1,576,759
Halozyme Therapeutics, Inc. (a)
 
299,067
14,298,393
Imago BioSciences, Inc. (a)
 
509,422
8,660,174
Immunocore Holdings PLC ADR (a)(b)
 
318,389
18,192,747
Instil Bio, Inc. (a)
 
1,571,744
5,186,755
Janux Therapeutics, Inc. (a)
 
426,115
7,704,159
Keros Therapeutics, Inc. (a)
 
264,998
13,339,999
Monte Rosa Therapeutics, Inc. (a)(b)
 
636,341
5,854,337
Morphic Holding, Inc. (a)
 
365,792
10,245,834
Neurocrine Biosciences, Inc. (a)
 
43,500
5,007,720
Nuvalent, Inc. Class A (a)
 
540,323
19,294,934
Prelude Therapeutics, Inc. (a)
 
687,320
4,598,171
PTC Therapeutics, Inc. (a)
 
459,596
17,381,921
Relay Therapeutics, Inc. (a)(b)
 
449,931
9,997,467
Tango Therapeutics, Inc. (a)
 
654,979
5,266,031
Tenaya Therapeutics, Inc. (a)
 
805,366
2,158,381
Tyra Biosciences, Inc. (a)
 
693,947
4,802,113
United Therapeutics Corp. (a)
 
56,087
12,929,736
Vaxcyte, Inc. (a)
 
420,985
18,359,156
Vericel Corp. (a)
 
294,755
7,923,014
Verve Therapeutics, Inc. (a)(b)
 
544,522
20,528,479
Xenon Pharmaceuticals, Inc. (a)
 
345,170
12,622,867
 
 
 
420,338,914
Health Care Equipment & Supplies - 5.3%
 
 
 
Angiodynamics, Inc. (a)
 
465,738
6,562,248
Envista Holdings Corp. (a)
 
473,672
15,635,913
Figs, Inc. Class A (a)(b)
 
2,527,943
18,656,219
Globus Medical, Inc. (a)(b)
 
218,361
14,630,187
Haemonetics Corp. (a)
 
500,311
42,501,419
Inspire Medical Systems, Inc. (a)
 
150,411
29,322,624
Insulet Corp. (a)
 
257,387
66,614,322
Integer Holdings Corp. (a)
 
110,586
6,892,825
NeuroPace, Inc. (a)(b)
 
1,153,222
3,459,666
Nevro Corp. (a)
 
262,530
10,065,400
PROCEPT BioRobotics Corp. (a)
 
375,800
17,072,594
TransMedics Group, Inc. (a)
 
738,153
35,593,738
 
 
 
267,007,155
Health Care Providers & Services - 5.8%
 
 
 
1Life Healthcare, Inc. (a)
 
646,038
11,047,250
Acadia Healthcare Co., Inc. (a)
 
532,292
43,275,340
AdaptHealth Corp. (a)
 
851,255
19,408,614
agilon health, Inc. (a)(b)
 
1,533,959
30,449,086
Guardant Health, Inc. (a)
 
259,340
12,837,330
Molina Healthcare, Inc. (a)
 
177,108
63,556,977
Option Care Health, Inc. (a)
 
1,095,552
33,151,404
Owens & Minor, Inc.
 
716,317
12,177,389
R1 Rcm, Inc. (a)
 
1,966,020
34,719,913
Surgery Partners, Inc. (a)
 
792,722
21,554,111
Tenet Healthcare Corp. (a)
 
181,046
8,031,201
 
 
 
290,208,615
Health Care Technology - 1.4%
 
 
 
Evolent Health, Inc. (a)
 
1,165,700
37,080,917
Phreesia, Inc. (a)
 
990,934
27,072,317
Schrodinger, Inc. (a)
 
219,958
5,272,393
 
 
 
69,425,627
Life Sciences Tools & Services - 0.9%
 
 
 
Absci Corp. (a)(b)
 
827,480
2,614,837
Olink Holding AB ADR (a)(b)
 
867,978
15,910,037
Syneos Health, Inc. (a)
 
272,978
13,752,632
Veterinary Emergency Group LLC Class A (a)(d)(e)(g)
 
190,561
12,104,435
 
 
 
44,381,941
Pharmaceuticals - 1.1%
 
 
 
Arvinas Holding Co. LLC (a)
 
410,339
20,397,952
DICE Therapeutics, Inc. (a)
 
398,672
14,156,843
Edgewise Therapeutics, Inc. (a)
 
1,008,221
9,588,182
Enliven Therapeutics, Inc. (c)(h)
 
2,068,309
8,264,963
Ikena Oncology, Inc. (a)
 
691,675
1,902,106
Pharvaris BV (a)
 
691,994
3,328,491
 
 
 
57,638,537
TOTAL HEALTH CARE
 
 
1,149,000,789
INDUSTRIALS - 18.7%
 
 
 
Aerospace & Defense - 2.0%
 
 
 
AeroVironment, Inc. (a)
 
86,566
7,920,789
BWX Technologies, Inc.
 
396,204
22,575,704
Curtiss-Wright Corp.
 
288,747
48,460,409
Dassault Aviation SA
 
76,352
11,348,412
V2X, Inc. (a)
 
290,323
11,900,340
 
 
 
102,205,654
Air Freight & Logistics - 0.6%
 
 
 
Air Transport Services Group, Inc. (a)
 
578,585
16,894,682
Hub Group, Inc. Class A (a)
 
177,148
13,746,685
 
 
 
30,641,367
Building Products - 1.6%
 
 
 
Builders FirstSource, Inc. (a)
 
290,313
17,900,700
Carlisle Companies, Inc.
 
119,622
28,565,734
The AZEK Co., Inc. (a)
 
833,626
14,596,791
UFP Industries, Inc.
 
290,079
20,662,327
 
 
 
81,725,552
Commercial Services & Supplies - 0.5%
 
 
 
Driven Brands Holdings, Inc. (a)
 
759,359
24,284,301
HNI Corp.
 
73,942
2,143,579
 
 
 
26,427,880
Construction & Engineering - 2.3%
 
 
 
EMCOR Group, Inc.
 
165,766
23,389,583
NV5 Global, Inc. (a)
 
104,130
15,093,644
Valmont Industries, Inc. (b)
 
114,574
36,574,312
Willscot Mobile Mini Holdings (a)
 
893,145
37,985,457
 
 
 
113,042,996
Electrical Equipment - 2.8%
 
 
 
Acuity Brands, Inc.
 
73,392
13,472,569
Array Technologies, Inc. (a)
 
1,396,286
25,272,777
Atkore, Inc. (a)
 
118,708
11,312,872
nVent Electric PLC
 
808,415
29,507,148
Regal Rexnord Corp.
 
368,911
46,681,998
Sunrun, Inc. (a)
 
549,841
12,376,921
 
 
 
138,624,285
Machinery - 3.2%
 
 
 
Chart Industries, Inc. (a)
 
73,977
16,487,994
Crane Holdings Co.
 
437,194
43,868,046
Federal Signal Corp.
 
656,677
30,633,982
ITT, Inc.
 
226,375
17,292,786
Mueller Industries, Inc.
 
369,736
23,160,263
Terex Corp.
 
682,331
27,661,699
 
 
 
159,104,770
Marine - 0.4%
 
 
 
Kirby Corp. (a)
 
306,972
21,411,297
Professional Services - 3.8%
 
 
 
ASGN, Inc. (a)
 
340,512
28,868,607
CACI International, Inc. Class A (a)
 
121,662
36,988,898
First Advantage Corp. (a)
 
350,376
4,922,783
FTI Consulting, Inc. (a)
 
206,410
32,123,588
ICF International, Inc.
 
69,082
8,264,280
Insperity, Inc.
 
247,317
29,188,352
KBR, Inc.
 
823,189
40,970,117
TriNet Group, Inc. (a)
 
141,273
9,179,920
 
 
 
190,506,545
Trading Companies & Distributors - 1.5%
 
 
 
Applied Industrial Technologies, Inc.
 
378,349
47,059,049
Custom Truck One Source, Inc. Class A (a)(b)
 
1,665,663
11,543,045
WESCO International, Inc. (a)
 
112,300
15,471,571
 
 
 
74,073,665
TOTAL INDUSTRIALS
 
 
937,764,011
INFORMATION TECHNOLOGY - 17.9%
 
 
 
Communications Equipment - 0.6%
 
 
 
Lumentum Holdings, Inc. (a)(b)
 
249,839
18,600,514
NetScout Systems, Inc. (a)
 
360,214
12,938,887
 
 
 
31,539,401
Electronic Equipment & Components - 2.8%
 
 
 
Fabrinet (a)
 
360,833
41,279,295
Flex Ltd. (a)
 
388,900
7,614,662
Insight Enterprises, Inc. (a)
 
178,410
16,861,529
Napco Security Technologies, Inc.
 
564,750
16,050,195
Richardson Electronics Ltd.
 
313,800
7,559,442
TD SYNNEX Corp.
 
407,632
37,302,404
Vontier Corp.
 
556,019
10,619,963
 
 
 
137,287,490
IT Services - 3.1%
 
 
 
Concentrix Corp.
 
321,707
39,322,247
ExlService Holdings, Inc. (a)
 
288,381
52,442,085
Flywire Corp. (a)
 
205,287
4,506,050
Genpact Ltd.
 
544,255
26,396,368
Verra Mobility Corp. (a)(b)
 
2,000,443
34,147,562
 
 
 
156,814,312
Semiconductors & Semiconductor Equipment - 2.6%
 
 
 
AEHR Test Systems (a)(b)
 
598,818
12,317,686
Allegro MicroSystems LLC (a)
 
398,870
10,135,287
Cirrus Logic, Inc. (a)
 
273,681
18,369,469
eMemory Technology, Inc.
 
278,000
9,265,517
Lattice Semiconductor Corp. (a)
 
366,167
17,762,761
MACOM Technology Solutions Holdings, Inc. (a)
 
498,191
28,830,313
Nova Ltd. (a)
 
231,456
17,060,622
SiTime Corp. (a)
 
178,021
15,988,066
 
 
 
129,729,721
Software - 7.9%
 
 
 
Alkami Technology, Inc. (a)(b)
 
883,021
13,995,883
Braze, Inc.
 
193,342
5,724,857
CCC Intelligent Solutions Holdings, Inc. (a)(d)
 
48,511
452,608
Confluent, Inc. (a)(b)
 
287,074
7,716,549
Coupa Software, Inc. (a)
 
137,138
7,299,856
Cvent Holding Corp. (a)(b)
 
2,604,810
15,238,139
CyberArk Software Ltd. (a)(b)
 
161,552
25,349,124
DoubleVerify Holdings, Inc. (a)(b)
 
1,220,168
35,665,511
Dynatrace, Inc. (a)
 
1,077,421
37,968,316
Elastic NV (a)
 
381,040
24,367,508
Five9, Inc. (a)
 
97,923
5,900,840
KnowBe4, Inc. (a)
 
2,078,452
51,088,350
Rapid7, Inc. (a)
 
223,787
10,130,837
Sprout Social, Inc. (a)(b)
 
833,228
50,268,645
TECSYS, Inc. (b)
 
699,786
15,348,189
Tenable Holdings, Inc. (a)
 
1,281,232
52,069,268
WalkMe Ltd. (a)(b)
 
852,982
7,608,599
Workiva, Inc. (a)
 
394,015
30,658,307
 
 
 
396,851,386
Technology Hardware, Storage & Peripherals - 0.9%
 
 
 
Avid Technology, Inc. (a)
 
1,653,912
45,466,041
TOTAL INFORMATION TECHNOLOGY
 
 
897,688,351
MATERIALS - 4.0%
 
 
 
Chemicals - 2.5%
 
 
 
Cabot Corp.
 
698,813
51,348,779
Element Solutions, Inc.
 
732,379
12,596,919
Huntsman Corp.
 
521,306
13,950,149
The Chemours Co. LLC
 
711,533
20,371,190
Valvoline, Inc.
 
857,108
25,164,691
 
 
 
123,431,728
Construction Materials - 0.2%
 
 
 
Eagle Materials, Inc.
 
95,138
11,636,329
Containers & Packaging - 0.6%
 
 
 
Ardagh Metal Packaging SA (a)(d)
 
1,634,000
7,254,960
O-I Glass, Inc. (a)
 
1,491,600
24,327,996
 
 
 
31,582,956
Metals & Mining - 0.7%
 
 
 
Arconic Corp. (a)
 
442,243
9,180,965
Iluka Resources Ltd.
 
3,317,584
18,356,101
Lynas Rare Earths Ltd. (a)
 
1,686,475
8,986,019
 
 
 
36,523,085
TOTAL MATERIALS
 
 
203,174,098
REAL ESTATE - 0.5%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.2%
 
 
 
Terreno Realty Corp.
 
149,305
8,531,288
Real Estate Management & Development - 0.3%
 
 
 
Compass, Inc. (a)
 
13
34
Jones Lang LaSalle, Inc. (a)
 
100,346
15,964,045
 
 
 
15,964,079
TOTAL REAL ESTATE
 
 
24,495,367
UTILITIES - 1.0%
 
 
 
Independent Power and Renewable Electricity Producers - 1.0%
 
 
 
NextEra Energy Partners LP
 
225,450
16,699,082
Sunnova Energy International, Inc. (a)(b)
 
595,987
11,049,599
Vistra Corp.
 
1,059,825
24,344,180
 
 
 
52,092,861
 
TOTAL COMMON STOCKS
 (Cost $4,593,201,229)
 
 
 
4,784,948,204
 
 
 
 
Convertible Preferred Stocks - 2.2%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 0.2%
 
 
 
Interactive Media & Services - 0.2%
 
 
 
Reddit, Inc. Series F (a)(d)(e)
 
253,500
9,828,195
CONSUMER DISCRETIONARY - 0.0%
 
 
 
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
Algolia SAS Series D (a)(d)(e)
 
53,800
843,046
HEALTH CARE - 0.5%
 
 
 
Biotechnology - 0.4%
 
 
 
Bright Peak Therapeutics AG Series B (a)(d)(e)
 
1,079,522
2,990,276
Caris Life Sciences, Inc. Series D (a)(d)(e)
 
780,603
4,371,377
LifeMine Therapeutics, Inc. Series C (d)(e)
 
2,048,403
3,502,769
Sonoma Biotherapeutics, Inc.:
 
 
 
 Series B (a)(d)(e)
 
2,370,360
3,982,205
 Series B1 (a)(d)(e)
 
1,264,171
2,123,807
T-Knife Therapeutics, Inc. Series B (a)(d)(e)
 
1,097,257
4,202,494
Treeline Biosciences Series A (a)(d)(e)
 
115,000
990,185
 
 
 
22,163,113
Health Care Providers & Services - 0.1%
 
 
 
Boundless Bio, Inc. Series B (a)(d)(e)
 
3,017,761
2,746,163
Health Care Technology - 0.0%
 
 
 
Wugen, Inc. Series B (a)(d)(e)
 
326,496
1,704,309
TOTAL HEALTH CARE
 
 
26,613,585
INDUSTRIALS - 0.8%
 
 
 
Construction & Engineering - 0.6%
 
 
 
Beta Technologies, Inc.:
 
 
 
 Series A (a)(d)(e)
 
278,129
22,923,392
 Series B, 6.00% (d)(e)
 
85,106
7,014,437
 
 
 
29,937,829
Road & Rail - 0.2%
 
 
 
Convoy, Inc. Series D (a)(d)(e)
 
913,444
8,668,584
TOTAL INDUSTRIALS
 
 
38,606,413
INFORMATION TECHNOLOGY - 0.7%
 
 
 
Communications Equipment - 0.2%
 
 
 
Astranis Space Technologies Corp. Series C (a)(d)(e)
 
557,717
7,852,655
IT Services - 0.3%
 
 
 
Yanka Industries, Inc.:
 
 
 
 Series E (a)(d)(e)
 
869,641
13,418,561
 Series F (a)(d)(e)
 
127,716
1,970,658
 
 
 
15,389,219
Software - 0.2%
 
 
 
Mountain Digital, Inc. Series D (d)(e)
 
729,676
10,106,013
Skyryse, Inc. Series B (d)(e)
 
62,100
1,245,726
 
 
 
11,351,739
TOTAL INFORMATION TECHNOLOGY
 
 
34,593,613
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $140,835,839)
 
 
 
110,484,852
 
 
 
 
Investment Companies - 0.0%
 
 
Shares
Value ($)
 
iShares Russell 2000 Growth Index ETF (b)
 
 (Cost $238,480)
 
 
1,100
248,886
 
 
 
 
Money Market Funds - 8.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 3.10% (i)
 
103,788,383
103,809,140
Fidelity Securities Lending Cash Central Fund 3.10% (i)(j)
 
312,851,645
312,882,931
 
TOTAL MONEY MARKET FUNDS
 (Cost $416,692,071)
 
 
416,692,071
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 105.7%
 (Cost $5,150,967,619)
 
 
 
5,312,374,013
NET OTHER ASSETS (LIABILITIES) - (5.7)%  
(288,018,509)
NET ASSETS - 100.0%
5,024,355,504
 
 
Security Type Abbreviations
ETF
-
EXCHANGE-TRADED FUND
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Affiliated company
 
(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 $211,632,036 or 4.2% of net assets.
 
(e)
Level 3 security
 
(f)
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 $1,665,529 or 0.0% of net assets.
 
(g)
Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.
 
(h)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(i)
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.
 
(j)
Investment made with cash collateral received from securities on loan.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Algolia SAS Series D
7/23/21
1,573,384
 
 
 
Algolia, Inc.
10/27/21
6,862,059
 
 
 
Ardagh Metal Packaging SA
2/22/21
16,340,000
 
 
 
Astranis Space Technologies Corp. Series C
3/19/21
12,225,675
 
 
 
Beta Technologies, Inc. Series A
4/09/21
20,378,512
 
 
 
Beta Technologies, Inc. Series B, 6.00%
4/04/22
8,780,386
 
 
 
Boundless Bio, Inc. Series B
4/23/21
4,073,977
 
 
 
Bright Peak Therapeutics AG Series B
5/14/21
4,216,613
 
 
 
Caris Life Sciences, Inc. Series D
5/11/21
6,322,884
 
 
 
CCC Intelligent Solutions Holdings, Inc.
2/02/21
485,110
 
 
 
Convoy, Inc. Series D
10/30/19
12,368,032
 
 
 
Fanatics, Inc. Class A
8/13/20 - 3/22/21
12,874,623
 
 
 
LifeMine Therapeutics, Inc. Series C
2/15/22
4,171,757
 
 
 
Mountain Digital, Inc. Series D
11/05/21
16,757,228
 
 
 
Perella Weinberg Partners
12/29/20
20,395,000
 
 
 
Reddit, Inc. Series F
8/11/21
15,664,880
 
 
 
Skyryse, Inc. Series B
10/21/21
1,532,626
 
 
 
Sonoma Biotherapeutics, Inc. Series B
7/26/21
4,684,542
 
 
 
Sonoma Biotherapeutics, Inc. Series B1
7/26/21
3,747,635
 
 
 
Starling Bank Ltd. Series D
6/18/21 - 4/05/22
3,728,430
 
 
 
T-Knife Therapeutics, Inc. Series B
6/30/21
6,329,856
 
 
 
Treeline Biosciences Series A
7/30/21
900,163
 
 
 
Veterinary Emergency Group LLC Class A
9/16/21 - 3/17/22
9,331,366
 
 
 
Wugen, Inc. Series B
7/09/21
2,531,944
 
 
 
Yanka Industries, Inc. Series E
5/15/20
10,504,568
 
 
 
Yanka Industries, Inc. Series F
4/08/21
4,071,177
 
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 3.10%
52,799,304
282,153,541
231,143,705
298,774
-
-
103,809,140
0.2%
Fidelity Securities Lending Cash Central Fund 3.10%
400,159,025
340,379,566
427,655,660
1,198,429
-
-
312,882,931
0.9%
Total
452,958,329
622,533,107
658,799,365
1,497,203
-
-
416,692,071
 
 
 
 
 
 
 
 
 
 
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.
 
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are as follows:
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
Avid Technology, Inc.
65,716,436
-
18,587,511
-
(5,047,505)
3,384,621
-
BARK, Inc.
3,021,230
-
5,925,292
-
(27,712,366)
18,664,428
-
BARK, Inc.
1,709,136
-
-
-
-
10,242,864
-
BARK, Inc. warrants 8/29/25
92,317
-
1,557
-
(13,697)
33,601
-
Enliven Therapeutics, Inc.
-
7,944,334
-
-
-
320,629
8,264,963
Lindblad Expeditions Holdings
25,014,078
8,141,818
317,149
-
83,647
1,088,929
34,011,323
Rover Group, Inc. Class A
10,653,724
-
96,589
-
5,223
34,988
10,597,346
Total
106,206,921
16,086,152
24,928,098
-
(32,684,698)
33,770,060
52,873,632
 
 
 
Purchase and Sales proceeds in the table above include the value of securities received or delivered through in-kind transactions, if applicable.
 
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services 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 the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted 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)
 
Valuation techniques used to value 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 service 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 any 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.
 
Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.
 
Exchange-Traded Funds (ETFs) and Exchange-Traded Notes (ETNs) are valued at their last sale price or official closing price as reported by a third party pricing service 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 but the exchange reports a closing bid level, ETFs and ETNs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs and ETNs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure 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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