N-Q 1 filing936.htm PRIMARY DOCUMENT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY


Investment Company Act file number   811-3583


Fidelity Mt. Vernon Street Trust

 (Exact name of registrant as specified in charter)


245 Summer St., Boston, Massachusetts  02210

 (Address of principal executive offices)       (Zip code)


William C. Coffey, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)



Registrant's telephone number, including area code:

617-563-7000



Date of fiscal year end:

November 30



Date of reporting period:

February 28, 2019


Item 1.

Schedule of Investments





Quarterly Holdings Report
for

Fidelity® Growth Company Fund

February 28, 2019







GCF-QTLY-0419
1.797941.115





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.7%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 12.9%   
Diversified Telecommunication Services - 0.2%   
Verizon Communications, Inc. 1,182,399 $67,302 
Entertainment - 3.1%   
Activision Blizzard, Inc. 4,538,634 191,258 
Electronic Arts, Inc. (a) 1,458,629 139,707 
Lions Gate Entertainment Corp.:   
Class A (b) 94,449 1,459 
Class B 81,671 1,200 
Live Nation Entertainment, Inc. (a) 1,132,191 64,037 
NetEase, Inc. ADR 196,938 43,961 
Netflix, Inc. (a) 1,986,121 711,230 
Nintendo Co. Ltd. 73,800 20,239 
The Walt Disney Co. 1,436,074 162,047 
  1,335,138 
Interactive Media & Services - 9.0%   
Alphabet, Inc.:   
Class A (a) 1,501,184 1,691,159 
Class C (a) 805,095 901,642 
CarGurus, Inc. Class A (a) 50,637 2,164 
Facebook, Inc. Class A (a) 7,188,814 1,160,634 
Match Group, Inc. (b) 204,450 11,322 
Snap, Inc. Class A (a)(b) 4,194,377 41,105 
Tencent Holdings Ltd. 1,099,400 47,080 
Twitter, Inc. (a) 522,886 16,094 
  3,871,200 
Media - 0.2%   
Comcast Corp. Class A 2,152,014 83,218 
Turn, Inc. (Escrow) (a)(c)(d) 984,774 655 
  83,873 
Wireless Telecommunication Services - 0.4%   
T-Mobile U.S., Inc. (a) 2,605,105 188,115 
TOTAL COMMUNICATION SERVICES  5,545,628 
CONSUMER DISCRETIONARY - 19.9%   
Auto Components - 0.0%   
Garrett Motion, Inc. (a)(b) 126,490 2,117 
Automobiles - 0.8%   
Tesla, Inc. (a)(b) 1,137,479 363,857 
Hotels, Restaurants & Leisure - 0.9%   
Chipotle Mexican Grill, Inc. (a) 60,896 36,996 
Hyatt Hotels Corp. Class A 210,305 15,304 
Marriott International, Inc. Class A 117,330 14,698 
McDonald's Corp. 375,519 69,035 
Planet Fitness, Inc. (a) 329,805 19,386 
Sea Ltd. ADR (a) 1,052,200 22,622 
Shake Shack, Inc. Class A (a) 160,370 8,843 
Starbucks Corp. 2,164,875 152,104 
YETI Holdings, Inc. (b) 430,181 10,320 
Yum China Holdings, Inc. 1,185,525 49,460 
Yum! Brands, Inc. 109,737 10,370 
  409,138 
Household Durables - 1.0%   
iRobot Corp. (a)(b) 1,168,444 146,126 
Roku, Inc. (a) 3,579,213 237,266 
Roku, Inc. Class A (a) 840,989 55,749 
  439,141 
Internet & Direct Marketing Retail - 9.1%   
Alibaba Group Holding Ltd. sponsored ADR (a) 1,020,611 186,802 
Amazon.com, Inc. (a) 1,615,286 2,648,797 
Ctrip.com International Ltd. ADR (a) 466,832 15,933 
eBay, Inc. 894,784 33,241 
Etsy, Inc. (a) 181,085 12,906 
Expedia, Inc. 287,104 35,403 
JD.com, Inc. sponsored ADR (a) 3,177,805 88,057 
Ocado Group PLC (a) 1,401,700 19,233 
The Booking Holdings, Inc. (a) 95,640 162,305 
The Honest Co., Inc. (a)(c)(d) 39,835 414 
Wayfair LLC Class A (a)(b) 4,170,335 690,941 
Zozo, Inc. 216,900 4,079 
  3,898,111 
Leisure Products - 0.1%   
Callaway Golf Co. 1,845,335 31,758 
Multiline Retail - 0.4%   
Dollar General Corp. 271,141 32,119 
Dollar Tree, Inc. (a) 1,037,301 99,923 
Ollie's Bargain Outlet Holdings, Inc. (a) 170,056 15,002 
Target Corp. 119,512 8,681 
  155,725 
Specialty Retail - 1.8%   
Carvana Co. Class A (a) 457,787 20,536 
Five Below, Inc. (a) 89,919 10,822 
Home Depot, Inc. 1,855,828 343,588 
L Brands, Inc. 131,213 3,430 
Lowe's Companies, Inc. 1,425,028 149,756 
RH (a)(b) 1,012,464 155,504 
TJX Companies, Inc. 1,404,379 72,031 
  755,667 
Textiles, Apparel & Luxury Goods - 5.8%   
adidas AG 2,677,957 650,635 
Allbirds, Inc. (c)(d) 61,486 3,372 
Canada Goose Holdings, Inc. (a)(b) 1,340,270 76,345 
Kering SA 92,184 50,341 
lululemon athletica, Inc. (a)(e) 7,170,977 1,078,658 
NIKE, Inc. Class B 2,119,329 181,690 
Rubius Therapeutics, Inc. (f) 1,865,277 29,621 
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) 8,961,136 301,363 
Tory Burch LLC:   
Class A (c)(d)(g) 950,844 52,953 
Class B (c)(d)(g) 324,840 19,034 
Under Armour, Inc. Class C (non-vtg.) (a) 738,740 14,834 
VF Corp. 375,073 32,766 
  2,491,612 
TOTAL CONSUMER DISCRETIONARY  8,547,126 
CONSUMER STAPLES - 4.4%   
Beverages - 2.0%   
Fever-Tree Drinks PLC 1,643,836 58,388 
Keurig Dr. Pepper, Inc. 4,570,986 114,960 
Monster Beverage Corp. (a) 6,117,937 390,508 
PepsiCo, Inc. 540,287 62,479 
The Coca-Cola Co. 4,901,860 222,250 
  848,585 
Food & Staples Retailing - 0.8%   
Costco Wholesale Corp. 819,419 179,240 
Kroger Co. 6,376,277 187,016 
  366,256 
Food Products - 0.3%   
Darling International, Inc. (a) 512,900 11,274 
Lamb Weston Holdings, Inc. 738,538 51,188 
Mondelez International, Inc. 1,048,644 49,454 
The Hershey Co. 157,380 17,419 
The Kraft Heinz Co. 48,513 1,610 
  130,945 
Household Products - 0.2%   
Church & Dwight Co., Inc. 723,974 47,637 
Colgate-Palmolive Co. 316,278 20,833 
Kimberly-Clark Corp. 88,194 10,304 
  78,774 
Personal Products - 0.4%   
Coty, Inc. Class A 5,058,346 55,642 
Godrej Consumer Products Ltd. 451,576 4,289 
Herbalife Nutrition Ltd. (a) 1,573,147 88,254 
Unilever NV (Certificaten Van Aandelen) (Bearer) 659,998 35,744 
  183,929 
Tobacco - 0.7%   
Altria Group, Inc. 5,197,385 272,395 
JUUL Labs, Inc. Class A (c)(d) 44,067 11,865 
Philip Morris International, Inc. 93,005 8,086 
  292,346 
TOTAL CONSUMER STAPLES  1,900,835 
ENERGY - 1.5%   
Energy Equipment & Services - 0.2%   
Baker Hughes, a GE Co. Class A 1,718,476 45,333 
Halliburton Co. 268,829 8,250 
  53,583 
Oil, Gas & Consumable Fuels - 1.3%   
Anadarko Petroleum Corp. 42,654 1,855 
Cabot Oil & Gas Corp. 1,920,598 47,285 
Concho Resources, Inc. 22,646 2,491 
Continental Resources, Inc. (a) 123,205 5,496 
Devon Energy Corp. 118,156 3,487 
EOG Resources, Inc. 1,579,204 148,445 
Hess Corp. 1,529,123 88,460 
Noble Energy, Inc. 1,248,234 27,648 
Occidental Petroleum Corp. 341,069 22,562 
PDC Energy, Inc. (a) 379,258 14,059 
Pioneer Natural Resources Co. 417,284 58,816 
Range Resources Corp. 1,399,482 14,974 
Reliance Industries Ltd. 5,110,680 88,813 
Southwestern Energy Co. (a) 600,921 2,542 
Valero Energy Corp. 488,692 39,858 
  566,791 
TOTAL ENERGY  620,374 
FINANCIALS - 2.2%   
Banks - 0.8%   
Bank of America Corp. 1,612,432 46,890 
HDFC Bank Ltd. sponsored ADR 1,216,217 122,984 
JPMorgan Chase & Co. 1,260,075 131,501 
Signature Bank 67,618 9,180 
Wells Fargo & Co. 454,006 22,650 
  333,205 
Capital Markets - 1.1%   
BlackRock, Inc. Class A 248,379 110,087 
Charles Schwab Corp. 6,140,446 282,522 
Edelweiss Financial Services Ltd. 6,867,664 13,257 
T. Rowe Price Group, Inc. 369,507 37,110 
  442,976 
Consumer Finance - 0.3%   
American Express Co. 1,123,962 121,096 
Discover Financial Services 128,776 9,222 
  130,318 
Diversified Financial Services - 0.0%   
Neon Therapeutics, Inc. (f) 889,854 5,544 
Insurance - 0.0%   
Hiscox Ltd. 328,100 6,958 
TOTAL FINANCIALS  919,001 
HEALTH CARE - 18.6%   
Biotechnology - 12.5%   
AbbVie, Inc. 1,230,282 97,488 
ACADIA Pharmaceuticals, Inc. (a) 7,173,764 190,105 
Agios Pharmaceuticals, Inc. (a) 2,593,752 168,257 
Alexion Pharmaceuticals, Inc. (a) 1,297,668 175,613 
Alkermes PLC (a) 5,860,526 194,980 
Allakos, Inc. (a) 128,809 5,147 
Allogene Therapeutics, Inc. (b) 841,737 26,675 
Allogene Therapeutics, Inc. 301,764 9,085 
Alnylam Pharmaceuticals, Inc. (a) 5,310,695 451,409 
Amgen, Inc. 1,101,600 209,392 
AnaptysBio, Inc. (a) 524,068 36,093 
Argenx SE ADR (a) 99,939 13,321 
Array BioPharma, Inc. (a) 5,210,982 119,540 
aTyr Pharma, Inc. (a)(e) 2,171,176 1,042 
BeiGene Ltd. 1,759,653 18,763 
BeiGene Ltd. ADR (a) 2,250,955 308,493 
Biogen, Inc. (a) 324,547 106,455 
bluebird bio, Inc. (a) 2,621,026 406,836 
Blueprint Medicines Corp. (a) 426,298 35,037 
Calyxt, Inc. (a)(e) 1,664,562 26,683 
Celgene Corp. (a) 860,952 71,562 
Cellectis SA sponsored ADR (a) 821,383 14,686 
Cibus Corp. Series C (c)(d)(g) 4,523,810 4,931 
Coherus BioSciences, Inc. (a) 1,165,046 16,707 
Constellation Pharmaceuticals, Inc. (f) 423,827 4,281 
Constellation Pharmaceuticals, Inc. 199,968 2,020 
Crinetics Pharmaceuticals, Inc. (a) 206,231 4,929 
CytomX Therapeutics, Inc. (a) 937,360 10,517 
CytomX Therapeutics, Inc. (a)(f) 794,033 8,909 
Denali Therapeutics, Inc. (a)(b) 633,814 13,792 
Evelo Biosciences, Inc. 665,338 5,848 
Evelo Biosciences, Inc. (f) 909,286 7,993 
Exact Sciences Corp. (a) 284,764 25,914 
Exelixis, Inc. (a) 9,176,031 205,451 
Fate Therapeutics, Inc. (a) 2,844,079 44,680 
Five Prime Therapeutics, Inc. (a) 1,444,721 16,730 
Global Blood Therapeutics, Inc. (a) 1,554,921 81,633 
Heron Therapeutics, Inc. (a) 563,221 14,908 
Homology Medicines, Inc. (a)(b) 378,491 11,158 
Homology Medicines, Inc. (f) 712,521 21,005 
Intellia Therapeutics, Inc. (a)(b) 672,773 10,246 
Intercept Pharmaceuticals, Inc. (a) 132,542 13,220 
Ionis Pharmaceuticals, Inc. (a)(e) 7,955,230 564,742 
Ironwood Pharmaceuticals, Inc. Class A (a) 4,627,346 65,893 
Jounce Therapeutics, Inc.(a) 144,933 645 
Kaleido Biosciences, Inc. 364,869 4,673 
Kaleido Biosciences, Inc. (a) 346,000 4,924 
Kiniksa Pharmaceuticals Ltd. (f) 304,279 5,462 
Lexicon Pharmaceuticals, Inc. (a)(b)(e) 6,462,926 34,383 
Macrogenics, Inc. (a) 406,354 8,127 
Mirati Therapeutics, Inc. (a) 262,600 19,117 
Moderna, Inc. 5,173,095 105,221 
Moderna, Inc. (b) 810,688 18,322 
Momenta Pharmaceuticals, Inc. (a)(e) 6,269,735 88,341 
Principia Biopharma, Inc. 184,156 6,523 
Protagonist Therapeutics, Inc. (a) 809,391 6,491 
Prothena Corp. PLC (a) 1,465,302 19,635 
Regeneron Pharmaceuticals, Inc. (a) 629,362 271,091 
Rigel Pharmaceuticals, Inc. (a)(e) 11,548,659 25,292 
Rubius Therapeutics, Inc. 1,327,850 21,086 
Sage Therapeutics, Inc. (a) 2,353,788 374,841 
Sarepta Therapeutics, Inc. (a) 155,128 22,376 
Scholar Rock Holding Corp. 701,371 13,060 
Seres Therapeutics, Inc. (a)(e) 1,519,355 9,314 
Seres Therapeutics, Inc. (a)(e)(f) 572,827 3,511 
Sienna Biopharmaceuticals, Inc. (a)(e) 1,594,625 4,066 
Sienna Biopharmaceuticals, Inc. (a)(e)(f) 564,045 1,438 
Spark Therapeutics, Inc. (a) 668,438 75,734 
Synthorx, Inc. 380,134 7,568 
Syros Pharmaceuticals, Inc. (a)(e) 825,511 5,605 
Syros Pharmaceuticals, Inc. (a)(e)(f) 938,007 6,369 
Translate Bio, Inc. (e)(f) 1,993,527 20,334 
Translate Bio, Inc. (e) 450,384 4,594 
Ultragenyx Pharmaceutical, Inc. (a) 618,856 39,693 
uniQure B.V. (a) 893,629 48,247 
UNITY Biotechnology, Inc. (b)(e) 1,043,567 10,436 
UNITY Biotechnology, Inc. (e)(f) 1,193,604 11,936 
Vertex Pharmaceuticals, Inc. (a) 455,771 86,027 
Wuxi Biologics (Cayman), Inc. (a)(f) 4,075,000 38,675 
Xencor, Inc. (a) 1,235,376 37,481 
Zai Lab Ltd. ADR (a) 1,824,529 52,583 
  5,355,390 
Health Care Equipment & Supplies - 3.1%   
Abbott Laboratories 728,436 56,541 
Align Technology, Inc. (a) 80,476 20,841 
Boston Scientific Corp. (a) 2,084,553 83,632 
Danaher Corp. 1,394,217 177,093 
DexCom, Inc. (a) 919,289 128,085 
Genmark Diagnostics, Inc. (a) 1,441,129 11,082 
Insulet Corp. (a) 1,917,255 180,049 
Intuitive Surgical, Inc. (a) 483,327 264,675 
Novocure Ltd. (a) 3,707,478 199,129 
Novocure Ltd. (a)(f) 571,461 30,693 
Penumbra, Inc. (a) 1,095,018 146,371 
Presbia PLC (a)(e) 1,243,602 731 
Wright Medical Group NV (a) 370,865 11,612 
  1,310,534 
Health Care Providers & Services - 0.8%   
Centene Corp. (a) 355,697 21,658 
G1 Therapeutics, Inc. (a) 339,086 6,260 
Humana, Inc. 60,621 17,279 
Laboratory Corp. of America Holdings (a) 111,694 16,558 
Notre Dame Intermedica Participacoes SA 1,511,700 13,370 
OptiNose, Inc. (a)(e) 1,579,521 11,720 
OptiNose, Inc. (e)(f) 992,571 7,365 
UnitedHealth Group, Inc. 1,106,649 268,053 
  362,263 
Health Care Technology - 0.1%   
Castlight Health, Inc. Class B (a) 2,077,484 6,627 
Teladoc Health, Inc. (a)(b) 379,039 24,395 
  31,022 
Life Sciences Tools & Services - 0.1%   
Illumina, Inc. (a) 48,259 15,094 
Thermo Fisher Scientific, Inc. 149,422 38,785 
  53,879 
Pharmaceuticals - 2.0%   
Adimab LLC (a)(c)(d)(g) 3,162,765 132,868 
Akcea Therapeutics, Inc. (a)(b)(e) 5,391,155 183,461 
Bristol-Myers Squibb Co. 979,618 50,607 
Intra-Cellular Therapies, Inc. (a)(e) 3,728,852 50,787 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 178,600 1,918 
Kolltan Pharmaceuticals, Inc. rights (a)(d) 7,940,644 
MyoKardia, Inc. (a) 1,610,483 72,230 
Nektar Therapeutics (a) 5,915,920 239,831 
Rhythm Pharmaceuticals, Inc. (a) 441,981 12,676 
RPI International Holdings LP (a)(c)(d) 130,847 20,297 
Stemcentrx, Inc. rights 12/31/21 (a)(d) 2,065,715 2,520 
The Medicines Company (a) 1,932,738 47,681 
Theravance Biopharma, Inc. (a) 1,528,651 37,100 
  851,976 
TOTAL HEALTH CARE  7,965,064 
INDUSTRIALS - 5.1%   
Aerospace & Defense - 1.3%   
Lockheed Martin Corp. 418,607 129,521 
Northrop Grumman Corp. 54,566 15,822 
Space Exploration Technologies Corp. Class A (a)(c)(d) 418,210 77,787 
The Boeing Co. 686,765 302,149 
United Technologies Corp. 418,613 52,607 
  577,886 
Air Freight & Logistics - 0.2%   
FedEx Corp. 81,960 14,835 
United Parcel Service, Inc. Class B 856,244 94,358 
  109,193 
Airlines - 1.1%   
Azul SA sponsored ADR (a) 436,776 13,003 
Delta Air Lines, Inc. 712,870 35,344 
JetBlue Airways Corp. (a) 4,306,171 71,913 
Ryanair Holdings PLC sponsored ADR (a) 453,263 33,786 
Southwest Airlines Co. 1,984,047 111,186 
Spirit Airlines, Inc. (a) 405,817 22,827 
United Continental Holdings, Inc. (a) 552,955 48,555 
Wheels Up Partners Holdings LLC:   
Series B (a)(c)(d)(g) 6,703,518 10,055 
Series C (a)(c)(d)(g) 3,466,281 5,199 
Wizz Air Holdings PLC (a)(f) 2,702,884 109,019 
  460,887 
Building Products - 0.1%   
Resideo Technologies, Inc. (a) 2,271,354 58,374 
Electrical Equipment - 0.3%   
AMETEK, Inc. 23,106 1,839 
Eaton Corp. PLC 280,445 22,371 
Emerson Electric Co. 457,536 31,181 
Fortive Corp. 790,968 64,519 
  119,910 
Industrial Conglomerates - 0.8%   
3M Co. 385,608 79,971 
General Electric Co. 4,130,065 42,911 
Honeywell International, Inc. 1,356,785 209,040 
  331,922 
Machinery - 0.8%   
Aumann AG (b)(f) 18,974 546 
Caterpillar, Inc. 821,776 112,863 
Deere & Co. 444,956 72,991 
Illinois Tool Works, Inc. 273,993 39,477 
Ingersoll-Rand PLC 124,991 13,194 
Wabtec Corp. 21,644 1,586 
Xylem, Inc. 1,176,874 88,913 
  329,570 
Professional Services - 0.0%   
CoStar Group, Inc. (a) 25,450 11,644 
Road & Rail - 0.5%   
Union Pacific Corp. 1,188,139 199,251 
TOTAL INDUSTRIALS  2,198,637 
INFORMATION TECHNOLOGY - 32.4%   
Communications Equipment - 0.5%   
Arista Networks, Inc. (a) 145,590 41,530 
Infinera Corp. (a)(e) 12,920,964 66,026 
NETGEAR, Inc. (a)(e) 2,036,438 73,006 
Nokia Corp. sponsored ADR (b) 5,881,968 35,821 
Quantenna Communications, Inc. (a) 75,100 1,363 
  217,746 
Electronic Equipment & Components - 0.2%   
Arlo Technologies, Inc. (e) 5,550,556 24,034 
Cognex Corp. 49,977 2,669 
IPG Photonics Corp. (a) 16,699 2,589 
TE Connectivity Ltd. 82,810 6,798 
Trimble, Inc. (a) 1,640,932 65,654 
  101,744 
Internet Software & Services - 0.1%   
Farfetch Ltd. Class A 1,032,888 25,306 
IT Services - 6.2%   
Actua Corp. (d)(e) 1,753,177 1,122 
Cognizant Technology Solutions Corp. Class A 877,404 62,278 
Elastic NV (b) 40,957 3,709 
IBM Corp. 83,978 11,600 
MasterCard, Inc. Class A 2,102,240 472,520 
MongoDB, Inc. (a) 956,702 97,163 
MongoDB, Inc. Class A (a) 41,651 4,230 
Okta, Inc. (a) 182,712 15,509 
PayPal Holdings, Inc. (a) 5,239,175 513,806 
Shopify, Inc. Class A (a) 3,224,396 610,796 
Square, Inc. (a) 2,899,753 235,576 
Visa, Inc. Class A 3,745,035 554,715 
Wix.com Ltd. (a) 506,436 55,328 
  2,638,352 
Semiconductors & Semiconductor Equipment - 6.9%   
Advanced Micro Devices, Inc. (a) 8,494,051 199,865 
Applied Materials, Inc. 309,787 11,877 
ASML Holding NV 328,287 60,034 
Broadcom, Inc. 219,513 60,445 
Cirrus Logic, Inc. (a) 784,181 31,469 
Cree, Inc. (a) 1,155,680 62,881 
Intel Corp. 73,904 3,914 
KLA-Tencor Corp. 217,377 25,105 
Marvell Technology Group Ltd. 1,415,525 28,240 
Micron Technology, Inc. (a) 591,027 24,161 
NVIDIA Corp. 12,528,461 1,932,640 
Silicon Laboratories, Inc. (a)(e) 3,231,534 261,819 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 1,133,625 44,268 
Texas Instruments, Inc. 1,504,080 159,102 
Xilinx, Inc. 320,562 40,166 
  2,945,986 
Software - 13.7%   
2U, Inc. (a) 711,622 52,447 
Adobe, Inc. (a) 1,539,020 403,993 
Aspen Technology, Inc. (a) 206,576 20,804 
Atlassian Corp. PLC (a) 419,725 45,112 
Autodesk, Inc. (a) 1,414,564 230,588 
Avalara, Inc. 60,050 3,135 
Black Knight, Inc. (a) 494,876 25,857 
Cadence Design Systems, Inc. (a) 277,581 15,892 
Coupa Software, Inc. (a) 363,131 34,203 
DocuSign, Inc. 60,464 3,335 
Domo, Inc. (f) 199,393 6,917 
HubSpot, Inc. (a) 1,559,086 262,519 
Intuit, Inc. 506,745 125,232 
Microsoft Corp. 12,420,913 1,391,515 
New Relic, Inc. (a) 216,502 22,895 
Nutanix, Inc.:   
Class A (a) 7,504,181 375,884 
Class B (a)(f) 1,151,309 57,669 
Oracle Corp. 923,995 48,168 
Parametric Technology Corp. (a) 1,823,456 169,253 
Paylocity Holding Corp. (a) 118,073 10,340 
Pluralsight, Inc. (b) 232,609 7,562 
Proofpoint, Inc. (a) 428,634 50,617 
Q2 Holdings, Inc. (a) 215,230 14,812 
Red Hat, Inc. (a) 3,203,979 585,047 
RingCentral, Inc. (a) 54,997 5,791 
Salesforce.com, Inc. (a) 9,856,330 1,612,988 
Smartsheet, Inc. 75,100 2,872 
Tenable Holdings, Inc. 78,499 2,448 
Zendesk, Inc. (a) 2,011,648 158,960 
Zscaler, Inc. (a)(b) 2,802,577 139,232 
  5,886,087 
Technology Hardware, Storage & Peripherals - 4.8%   
Apple, Inc. 10,502,577 1,818,521 
NetApp, Inc. 333,117 21,719 
Pure Storage, Inc. Class A (a) 8,713,442 178,451 
Samsung Electronics Co. Ltd. 962,745 38,578 
  2,057,269 
TOTAL INFORMATION TECHNOLOGY  13,872,490 
MATERIALS - 0.4%   
Chemicals - 0.3%   
CF Industries Holdings, Inc. 1,278,090 53,935 
DowDuPont, Inc. 710,769 37,834 
LG Chemical Ltd. 113,317 39,316 
The Mosaic Co. 247,760 7,747 
  138,832 
Metals & Mining - 0.1%   
Barrick Gold Corp. (Canada) 1,605,900 20,258 
TOTAL MATERIALS  159,090 
REAL ESTATE - 0.3%   
Equity Real Estate Investment Trusts (REITs) - 0.3%   
American Tower Corp. 673,716 118,675 
Ant International Co. Ltd. Class C (c)(d) 1,658,265 10,497 
  129,172 
UTILITIES - 0.0%   
Electric Utilities - 0.0%   
DONG Energy A/S (f) 210,300 15,261 
TOTAL COMMON STOCKS   
(Cost $18,743,516)  41,872,678 
Preferred Stocks - 2.2%   
Convertible Preferred Stocks - 2.0%   
COMMUNICATION SERVICES - 0.0%   
Wireless Telecommunication Services - 0.0%   
Altiostar Networks, Inc. Series A1 (a)(c)(d) 699,106 895 
CONSUMER DISCRETIONARY - 0.2%   
Hotels, Restaurants & Leisure - 0.1%   
MOD Super Fast Pizza Holdings LLC Series 3 Preferred (a)(c)(d)(g) 61,485 9,972 
Neutron Holdings, Inc. Series D (c)(d) 17,893,728 4,339 
Topgolf International, Inc. Series F (a)(c)(d) 819,532 10,359 
  24,670 
Internet & Direct Marketing Retail - 0.0%   
Reddit, Inc. Series B (a)(c)(d) 384,303 8,334 
The Honest Co., Inc.:   
Series C (a)(c)(d) 92,950 3,593 
Series D (a)(c)(d) 69,363 3,174 
  15,101 
Leisure Products - 0.1%   
Peloton Interactive, Inc. Series E (a)(c)(d) 2,549,928 36,821 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (c)(d) 24,267 1,331 
Series B (c)(d) 4,263 234 
Series C (c)(d) 40,746 2,234 
ORIC Pharmaceuticals, Inc. Series C (a)(c)(d) 1,416,666 4,222 
  8,021 
TOTAL CONSUMER DISCRETIONARY  84,613 
CONSUMER STAPLES - 0.0%   
Food & Staples Retailing - 0.0%   
Sweetgreen, Inc. Series H (c)(d) 705,259 9,197 
Food Products - 0.0%   
Agbiome LLC Series C (c)(d) 1,060,308 5,757 
Tobacco - 0.0%   
JUUL Labs, Inc. Series E (c)(d) 22,033 5,932 
TOTAL CONSUMER STAPLES  20,886 
FINANCIALS - 0.0%   
Insurance - 0.0%   
Clover Health Series D (a)(c)(d) 863,631 8,099 
HEALTH CARE - 0.7%   
Biotechnology - 0.5%   
10X Genomics, Inc.:   
Series C (a)(c)(d) 2,505,940 31,901 
Series D (c)(d) 364,100 4,635 
23andMe, Inc. Series F (a)(c)(d) 590,383 11,406 
Axcella Health, Inc.:   
Series C (a)(c)(d) 536,592 5,994 
Series E (c)(d) 366,851 4,098 
BioNTech AG Series A (a)(c)(d) 114,025 32,925 
Fulcrum Therapeutics, Inc. Series B (c)(d) 2,308,437 4,340 
Generation Bio Series B (c)(d) 831,800 7,561 
Immunocore Ltd. Series A (a)(c)(d) 67,323 8,694 
Intarcia Therapeutics, Inc.:   
Series CC (a)(c)(d) 1,051,411 42,519 
Series DD (a)(c)(d) 1,543,687 62,427 
  216,500 
Health Care Equipment & Supplies - 0.0%   
Shockwave Medical, Inc. Series C (a)(c) 443,695 6,789 
Health Care Providers & Services - 0.1%   
Mulberry Health, Inc. Series A8 (a)(c)(d) 2,790,742 19,942 
Health Care Technology - 0.1%   
Codiak Biosciences, Inc.:   
Series A 8.00% (a)(c)(d) 589,863 2,141 
Series B 8.00% (a)(c)(d) 1,917,058 6,959 
Series C, 8.00% (a)(c)(d) 2,688,186 9,758 
  18,858 
Pharmaceuticals - 0.0%   
Castle Creek Pharmaceutical Holdings, Inc. Series B (c)(d) 16,803 7,069 
Harmony Biosciences II, Inc. Series A (a)(c)(d) 10,934,380 10,934 
Nohla Therapeutics, Inc. Series B (c)(d) 9,124,200 
  18,003 
TOTAL HEALTH CARE  280,092 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series G (a)(c)(d) 216,276 40,227 
Professional Services - 0.0%   
YourPeople, Inc. Series C (a)(c)(d) 5,833,137 24,966 
TOTAL INDUSTRIALS  65,193 
INFORMATION TECHNOLOGY - 1.0%   
Internet Software & Services - 0.1%   
Starry, Inc.:   
Series B (a)(c)(d) 9,869,159 14,113 
Series C (a)(c)(d) 5,234,614 7,485 
  21,598 
IT Services - 0.0%   
AppNexus, Inc. Series E (Escrow) (a)(c)(d) 923,523 891 
Jet.Com, Inc. Series B1 (Escrow) (a)(c)(d) 7,578,338 344 
  1,235 
Software - 0.9%   
Bird Rides, Inc. Series C (c)(d) 348,328 4,091 
Cloudflare, Inc. Series D, 8.00% (a)(c)(d) 2,229,826 24,528 
Dataminr, Inc. Series D (a)(c)(d) 1,773,901 40,551 
Lyft, Inc. Series I (c)(d) 772,439 38,390 
Outset Medical, Inc.:   
Series C (a)(c)(d) 1,244,716 3,871 
Series D (c)(d) 1,525,901 4,746 
Taboola.Com Ltd. Series E (a)(c)(d) 1,337,420 28,286 
Uber Technologies, Inc.:   
Series D, 8.00% (a)(c)(d) 4,770,180 232,642 
Series E, 8.00% (a)(c)(d) 209,216 10,203 
  387,308 
TOTAL INFORMATION TECHNOLOGY  410,141 
TOTAL CONVERTIBLE PREFERRED STOCKS  869,919 
Nonconvertible Preferred Stocks - 0.2%   
CONSUMER DISCRETIONARY - 0.0%   
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc. (c)(d) 13,038 715 
ENERGY - 0.0%   
Oil, Gas & Consumable Fuels - 0.0%   
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.) 1,376,900 19,731 
FINANCIALS - 0.1%   
Banks - 0.1%   
Itau Unibanco Holding SA 3,367,200 31,582 
HEALTH CARE - 0.1%   
Biotechnology - 0.0%   
Yumanity Holdings LLC:   
Class A (a)(c)(d) 464,607 3,062 
Class B (c)(d) 336,308 2,216 
  5,278 
Pharmaceuticals - 0.1%   
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (c)(d) 46,864 19,715 
TOTAL HEALTH CARE  24,993 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  77,021 
TOTAL PREFERRED STOCKS   
(Cost $663,748)  946,940 
 Principal Amount (000s) Value (000s) 
Preferred Securities - 0.0%   
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
Intarcia Therapeutics, Inc. 6% 7/18/21(c)(d)   
(Cost $13,682) 13,682 13,693 
 Shares Value (000s) 
Money Market Funds - 2.5%   
Fidelity Cash Central Fund, 2.44% (h) 56,441,819 56,453 
Fidelity Securities Lending Cash Central Fund 2.45% (h)(i) 1,016,226,184 1,016,328 
TOTAL MONEY MARKET FUNDS   
(Cost $1,072,772)  1,072,781 
TOTAL INVESTMENT IN SECURITIES - 102.4%   
(Cost $20,493,718)  43,906,092 
NET OTHER ASSETS (LIABILITIES) - (2.4)%  (1,023,871) 
NET ASSETS - 100%  $42,882,221 

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Restricted securities - 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 $1,259,247,000 or 2.9% of net assets.

 (d) Level 3 security

 (e) Affiliated company

 (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 $392,548,000 or 0.9% 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) 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.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
10X Genomics, Inc. Series C 2/23/16 - 4/3/17 $11,222 
10X Genomics, Inc. Series D 4/10/18 $3,484 
23andMe, Inc. Series F 8/31/17 $8,197 
Adimab LLC 9/17/14 - 6/5/15 $47,869 
Agbiome LLC Series C 6/29/18 $6,716 
Allbirds, Inc. 10/9/18 $3,372 
Allbirds, Inc. 10/9/18 $715 
Allbirds, Inc. Series A 10/9/18 $1,331 
Allbirds, Inc. Series B 10/9/18 $234 
Allbirds, Inc. Series C 10/9/18 $2,234 
Altiostar Networks, Inc. Series A1 1/10/17 $3,216 
Ant International Co. Ltd. Class C 5/16/18 $9,303 
AppNexus, Inc. Series E (Escrow) 8/1/14 $1,665 
Axcella Health, Inc. Series C 8/11/17 $5,409 
Axcella Health, Inc. Series E 11/30/18 $4,098 
BioNTech AG Series A 12/29/17 $24,972 
Bird Rides, Inc. Series C 12/21/18 $4,091 
Castle Creek Pharmaceutical Holdings, Inc. Series A4 9/29/16 $15,506 
Castle Creek Pharmaceutical Holdings, Inc. Series B 10/9/18 $6,920 
Cibus Corp. Series C 2/16/18 $9,500 
Cloudflare, Inc. Series D, 8.00% 11/5/14 - 9/10/18 $17,559 
Clover Health Series D 6/7/17 $8,099 
Codiak Biosciences, Inc. Series A 8.00% 11/12/15 $590 
Codiak Biosciences, Inc. Series B 8.00% 11/12/15 $5,751 
Codiak Biosciences, Inc. Series C, 8.00% 11/17/17 $10,182 
Dataminr, Inc. Series D 2/18/15 - 3/6/15 $22,617 
Fulcrum Therapeutics, Inc. Series B 8/24/18 $4,617 
Generation Bio Series B 2/21/18 $7,607 
Harmony Biosciences II, Inc. Series A 9/22/17 $10,934 
Immunocore Ltd. Series A 7/27/15 $12,669 
Intarcia Therapeutics, Inc. Series CC 11/14/12 $14,331 
Intarcia Therapeutics, Inc. Series DD 3/17/14 $50,000 
Intarcia Therapeutics, Inc. 6% 7/18/21 2/26/19 $13,682 
Jet.Com, Inc. Series B1 (Escrow) 3/19/18 $0 
JUUL Labs, Inc. Class A 7/6/18 $7,899 
JUUL Labs, Inc. Series E 7/6/18 $3,949 
Lyft, Inc. Series I 6/27/18 $36,578 
MOD Super Fast Pizza Holdings LLC Series 3 Preferred 11/3/16 - 12/14/17 $8,439 
Mulberry Health, Inc. Series A8 1/20/16 $18,851 
Neutron Holdings, Inc. Series D 1/25/19 $4,339 
Nohla Therapeutics, Inc. Series B 5/1/18 $4,161 
ORIC Pharmaceuticals, Inc. Series C 2/6/18 $4,250 
Outset Medical, Inc. Series C 4/19/17 $3,226 
Outset Medical, Inc. Series D 8/20/18 $4,746 
Peloton Interactive, Inc. Series E 3/31/17 $13,809 
Reddit, Inc. Series B 7/26/17 $5,456 
RPI International Holdings LP 5/21/15 - 3/23/16 $16,269 
Shockwave Medical, Inc. Series C 9/27/17 $5,467 
Space Exploration Technologies Corp. Class A 10/16/15 - 4/6/17 $38,201 
Space Exploration Technologies Corp. Series G 1/20/15 $16,753 
Starry, Inc. Series B 12/1/16 $5,339 
Starry, Inc. Series C 12/8/17 $4,826 
Sweetgreen, Inc. Series H 11/9/18 $9,197 
Taboola.Com Ltd. Series E 12/22/14 $13,943 
The Honest Co., Inc. 8/21/14 $1,078 
The Honest Co., Inc. Series C 8/21/14 $2,515 
The Honest Co., Inc. Series D 8/3/15 $3,174 
Topgolf International, Inc. Series F 11/10/17 $11,337 
Tory Burch LLC Class A 5/14/15 $67,653 
Tory Burch LLC Class B 12/31/12 $17,505 
Turn, Inc. (Escrow) 4/11/17 $591 
Uber Technologies, Inc. Series D, 8.00% 6/6/14 $74,000 
Uber Technologies, Inc. Series E, 8.00% 12/5/14 $6,971 
Wheels Up Partners Holdings LLC Series B 9/18/15 $19,040 
Wheels Up Partners Holdings LLC Series C 6/22/17 $10,815 
YourPeople, Inc. Series C 5/1/15 $86,920 
Yumanity Holdings LLC Class A 2/8/16 $3,140 
Yumanity Holdings LLC Class B 6/19/18 $2,815 

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 
 (Amounts in thousands) 
Fidelity Cash Central Fund $371 
Fidelity Securities Lending Cash Central Fund 2,399 
Total $2,770 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

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 (Amounts in thousands) Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
ACADIA Pharmaceuticals, Inc. $138,324 $-- $1,409 $-- $1,040 $52,150 $-- 
Actua Corp. 1,135 -- 13 -- 13 (13) 1,122 
Akcea Therapeutics, Inc. 177,899 6,479 1,823 -- 1,324 (418) 183,461 
Alkermes PLC 291,143 -- 69,967 -- (29,856) 3,660 -- 
Alnylam Pharmaceuticals, Inc. 411,703 23,397 4,280 -- 2,294 18,295 -- 
Arlo Technologies, Inc. 43,020 67 16,018 -- (34,223) (22,774) 24,034 
aTyr Pharma, Inc. 1,353 -- 13 -- (110) (188) 1,042 
Calyxt, Inc. 19,399 -- 197 -- 42 7,439 26,683 
Infinera Corp. 56,075 302 599 -- (64) 10,312 66,026 
Intra-Cellular Therapies, Inc. 54,509 -- 503 -- (170) (3,049) 50,787 
Ionis Pharmaceuticals, Inc. 465,471 3,362 4,934 -- 3,381 97,462 564,742 
Lexicon Pharmaceuticals, Inc. 53,573 1,155 1,763 -- (1,637) (16,945) 34,383 
lululemon athletica, Inc. 959,027 2,756 10,516 -- 9,216 118,175 1,078,658 
Momenta Pharmaceuticals, Inc. 60,109 14,444 785 -- (12) 14,585 88,341 
NETGEAR, Inc. 130,806 512 12,182  -- (2,564 ) 10,396 73,006 
OptiNose, Inc. 10,454 2,156 128 -- (19) (743) 11,720 
OptiNose, Inc. 7,812 -- -- -- -- (447) 7,365 
Presbia PLC 888 -- -- (38) (113) 731 
Rigel Pharmaceuticals, Inc. 32,270 698 297 -- 31 (7,410) 25,292 
Seres Therapeutics, Inc. 12,834 -- 88 -- (34) (3,398) 9,314 
Seres Therapeutics, Inc. 4,783 -- -- -- -- (1,272) 3,511 
Sienna Biopharmaceuticals, Inc. 8,483 2,415 30 -- (33) (6,769) 4,066 
Sienna Biopharmaceuticals, Inc. 5,702 -- -- -- -- (4,264) 1,438 
Silicon Laboratories, Inc. 279,754 12,006 5,621 -- 1,087 (25,407) 261,819 
Syros Pharmaceuticals, Inc. 8,321 788 3,069  -- (3,693) 3,258 5,605 
Syros Pharmaceuticals, Inc. 6,388 -- -- -- -- (19) 6,369 
Translate Bio, Inc. -- -- -- -- -- 2,373 20,334 
Translate Bio, Inc. 3,037 264 35 -- 1,321 4,594 
Translate Bio, Inc. 13,693 -- -- -- -- 4,268 -- 
UNITY Biotechnology, Inc. 8,762 5,359 143 -- 36 (3,578) 10,436 
UNITY Biotechnology, Inc. 15,350 -- -- -- -- (3,414) 11,936 
Total $3,282,077 $76,160 $134,419 $-- $(53,982) $243,473 $2,576,815 

Investment Valuation

The following is a summary of the inputs used, as of February 28, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Communication Services $5,546,523 $5,477,654 $67,319 $1,550 
Consumer Discretionary 8,632,454 8,471,353 -- 161,101 
Consumer Staples 1,921,721 1,853,226 35,744 32,751 
Energy 640,105 640,105 -- -- 
Financials 958,682 950,583 -- 8,099 
Health Care 8,270,149 7,685,469 125,768 458,912 
Industrials 2,263,830 2,105,596 -- 158,234 
Information Technology 14,282,631 13,871,368 -- 411,263 
Materials 159,090 159,090 -- -- 
Real Estate 129,172 118,675 -- 10,497 
Utilities 15,261 15,261 -- -- 
Preferred Securities 13,693 -- -- 13,693 
Money Market Funds 1,072,781 1,072,781 -- -- 
Total Investments in Securities: $43,906,092 $42,421,161 $228,831 $1,256,100 

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

(Amounts in thousands)  
Investments in Securities:  
Equities - Health Care  
Beginning Balance $589,961 
Net Realized Gain (Loss) on Investment Securities 22 
Net Unrealized Gain (Loss) on Investment Securities (67,003) 
Cost of Purchases 37 
Proceeds of Sales (58,004) 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 (6,101) 
Ending Balance $458,912 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2019 $(10,635) 
Other Investments in Securities  
Beginning Balance $740,119 
Net Realized Gain (Loss) on Investment Securities 30 
Net Unrealized Gain (Loss) on Investment Securities 45,787 
Cost of Purchases 24,061 
Proceeds of Sales (12,809) 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 -- 
Ending Balance $797,188 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2019 $45,787 

The information used in the above reconciliations represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

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. Equity securities, including restricted securities, for which observable inputs are not available, are valued using alternate valuation approaches, including the market approach and the income approach and are categorized as Level 3 in the hierarchy. The market approach generally consists of using comparable market transactions while the income approach generally consists of using the net present value of estimated future cash flows, adjusted as appropriate for liquidity, credit, market and/or other risk factors.

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.

The following provides information on Level 3 securities held by the fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

Asset Type Fair Value Valuation Technique (s) Unobservable Input Amount or Range / Weighted Average Impact to Valuation from an Increase in Input(a) 
Preferred Securities $13,693 Market Approach Transaction price $100.00 Increase 
Equities $1,242,407 Recovery Value Recovery Value 0.0% - 1.0% / 0.7% Increase 
  Market comparable Enterprise value/Sales multiple (EV/S) 0.8 - 11.7 / 4.2 Increase 
   Transaction price $1.00 - $411.85 / $169.48 Increase 
   Liquidity preference $14.90 - $45.76 / $22.50 Increase 
   Discount rate 2.8% - 76.0% / 39.6% Decrease 
   Discount for lack of marketability 10.0% - 15.0% / 14.4% Decrease 
   Proxy discount 0.6% - 26.8% / 7.1% Decrease 
   Premium rate 6.0% Increase 
   Conversion ratio 3.0 Increase 
   Proxy premium 2.0% Increase 
  Market Approach Transaction price $0.24 - $269.25 / $71.25 Increase 
   Conversion ratio 1.6 Increase 
  Discount cash flow Discount rate 8.0% - 25.0% / 11.0% Decrease 
   Discount for lack of marketability 10.0% Decrease 
   Growth rate 3.0% - 3.5% / 3.5% Increase 
   Probablity rate 6.3% Increase 

 (a) Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.


Quarterly Holdings Report
for

Fidelity® New Millennium Fund®

February 28, 2019







NMF-QTLY-0419
1.797943.115





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.6%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 3.9%   
Diversified Telecommunication Services - 1.4%   
Verizon Communications, Inc. 794,000 $45,194 
Entertainment - 0.4%   
Trion World, Inc. (a)(b)(c) 1,062,359 
WME Entertainment Parent, LLC Class A (a)(b)(c)(d) 3,761,973 11,023 
  11,023 
Media - 2.1%   
Comcast Corp. Class A 1,727,200 66,791 
TOTAL COMMUNICATION SERVICES  123,008 
CONSUMER DISCRETIONARY - 11.8%   
Automobiles - 1.0%   
Fiat Chrysler Automobiles NV 1,532,200 22,569 
Tesla, Inc. (a) 24,600 7,869 
  30,438 
Hotels, Restaurants & Leisure - 3.0%   
ARAMARK Holdings Corp. 1,571,300 47,610 
Del Frisco's Restaurant Group, Inc. (a) 640,600 5,426 
Drive Shack, Inc. (a) 2,114,780 9,326 
U.S. Foods Holding Corp. (a) 732,600 25,817 
Wynn Resorts Ltd. 61,100 7,732 
  95,911 
Household Durables - 1.9%   
D.R. Horton, Inc. 550,700 21,417 
Newell Brands, Inc. (e) 550,700 8,938 
NVR, Inc. (a) 5,100 13,362 
Toll Brothers, Inc. 474,813 16,903 
  60,620 
Leisure Products - 0.1%   
New Academy Holding Co. LLC unit (a)(b)(c)(f) 66,000 2,241 
Multiline Retail - 1.1%   
Dollar General Corp. 207,500 24,580 
Dollar Tree, Inc. (a) 102,500 9,874 
  34,454 
Specialty Retail - 2.3%   
AutoZone, Inc. (a) 31,700 29,765 
Tiffany & Co., Inc. 156,900 14,912 
TJX Companies, Inc. 530,000 27,184 
  71,861 
Textiles, Apparel & Luxury Goods - 2.4%   
Allbirds, Inc. (b)(c) 4,447 244 
Brunello Cucinelli SpA 822,600 32,047 
PVH Corp. 141,600 16,261 
Tapestry, Inc. 445,300 15,559 
Under Armour, Inc. Class A (sub. vtg.) (a)(e) 475,000 10,711 
  74,822 
TOTAL CONSUMER DISCRETIONARY  370,347 
CONSUMER STAPLES - 8.9%   
Beverages - 0.3%   
Diageo PLC sponsored ADR 60,400 9,349 
Food & Staples Retailing - 2.0%   
Walmart, Inc. 646,600 64,007 
Food Products - 1.2%   
Amira Nature Foods Ltd. (a)(e) 1,082,352 1,115 
Greencore Group PLC 5,662,061 14,719 
The Hershey Co. 185,200 20,498 
  36,332 
Household Products - 2.9%   
Kimberly-Clark Corp. 197,100 23,027 
Procter & Gamble Co. 573,500 56,518 
Reckitt Benckiser Group PLC 164,900 12,594 
  92,139 
Personal Products - 0.7%   
Coty, Inc. Class A 768,300 8,451 
Unilever NV (Certificaten Van Aandelen) (Bearer) 235,800 12,770 
  21,221 
Tobacco - 1.8%   
Altria Group, Inc. 786,100 41,200 
British American Tobacco PLC sponsored ADR 419,200 15,401 
  56,601 
TOTAL CONSUMER STAPLES  279,649 
ENERGY - 11.9%   
Energy Equipment & Services - 1.5%   
Borr Drilling Ltd. (a) 4,401,703 12,037 
Oceaneering International, Inc. (a) 588,652 9,095 
Odfjell Drilling Ltd. 4,699,224 14,032 
Pacific Drilling SA (a) 400,574 6,129 
Pacific Drilling SA 23,209 355 
TechnipFMC PLC 325,600 7,258 
  48,906 
Oil, Gas & Consumable Fuels - 10.4%   
BP PLC sponsored ADR 742,900 31,685 
Cabot Oil & Gas Corp. 676,300 16,651 
Cheniere Energy, Inc. (a) 239,300 15,423 
Cimarex Energy Co. 110,600 7,953 
ConocoPhillips Co. 664,300 45,073 
Denbury Resources, Inc. (a)(e) 1,736,700 3,334 
Diamondback Energy, Inc. 99,800 10,272 
Exxon Mobil Corp. 1,275,400 100,795 
GasLog Ltd. 472,841 7,622 
Golar LNG Ltd. 717,100 14,801 
Kosmos Energy Ltd. 2,934,000 18,778 
Legacy Reserves, Inc. (a)(e)(g) 5,606,520 6,728 
The Williams Companies, Inc. 1,117,997 29,839 
Valero Energy Corp. 218,000 17,780 
  326,734 
TOTAL ENERGY  375,640 
FINANCIALS - 19.1%   
Banks - 5.3%   
Bank of America Corp. 2,915,600 84,786 
First Republic Bank 166,500 17,479 
HDFC Bank Ltd. sponsored ADR 152,300 15,401 
Metro Bank PLC (a)(e) 327,930 3,869 
PNC Financial Services Group, Inc. 168,300 21,209 
Republic First Bancorp, Inc. (a) 933,900 5,977 
SunTrust Banks, Inc. 296,412 19,228 
  167,949 
Capital Markets - 1.3%   
The NASDAQ OMX Group, Inc. 204,200 18,699 
TPG Specialty Lending, Inc. 1,089,586 21,944 
  40,643 
Diversified Financial Services - 2.3%   
Berkshire Hathaway, Inc. Class B (a) 313,600 63,128 
Focus Financial Partners, Inc. Class A 194,200 7,350 
  70,478 
Insurance - 8.1%   
American International Group, Inc. 1,412,700 61,029 
Arch Capital Group Ltd. (a) 924,600 30,207 
Beazley PLC 1,192,000 8,656 
Chubb Ltd. 309,709 41,470 
First American Financial Corp. 271,800 13,805 
FNF Group 657,300 23,065 
Hiscox Ltd. 478,900 10,157 
Marsh & McLennan Companies, Inc. 193,500 17,999 
MetLife, Inc. 617,000 27,882 
The Travelers Companies, Inc. 157,400 20,920 
  255,190 
Thrifts & Mortgage Finance - 2.1%   
Housing Development Finance Corp. Ltd. 425,968 11,071 
LIC Housing Finance Ltd. 320,405 2,151 
MGIC Investment Corp. (a) 1,213,634 15,753 
Radian Group, Inc. 1,774,923 36,137 
  65,112 
TOTAL FINANCIALS  599,372 
HEALTH CARE - 11.1%   
Biotechnology - 1.9%   
Amgen, Inc. 231,400 43,985 
Celgene Corp. (a) 187,200 15,560 
  59,545 
Health Care Equipment & Supplies - 2.5%   
Becton, Dickinson & Co. 117,000 29,108 
Boston Scientific Corp. (a) 649,500 26,058 
Danaher Corp. 182,200 23,143 
  78,309 
Health Care Providers & Services - 3.8%   
Covetrus, Inc. (a) 116,480 4,168 
Henry Schein, Inc. (a) 291,200 17,268 
National Vision Holdings, Inc. (a) 385,600 12,956 
Notre Dame Intermedica Participacoes SA 1,052,460 9,308 
Premier, Inc. (a) 239,400 8,757 
UnitedHealth Group, Inc. 190,100 46,046 
Universal Health Services, Inc. Class B 154,000 21,380 
  119,883 
Health Care Technology - 0.4%   
Cerner Corp. (a) 231,200 12,936 
Life Sciences Tools & Services - 0.8%   
Agilent Technologies, Inc. 180,300 14,323 
Bruker Corp. 318,900 12,185 
  26,508 
Pharmaceuticals - 1.7%   
Amneal Pharmaceuticals, Inc. (a)(e) 488,400 6,608 
Catalent, Inc. (a) 248,493 10,740 
GlaxoSmithKline PLC 180 
Perrigo Co. PLC 294,100 14,323 
Prestige Brands Holdings, Inc. (a) 300,000 8,778 
Roche Holding AG (participation certificate) 42,220 11,717 
  52,170 
TOTAL HEALTH CARE  349,351 
INDUSTRIALS - 12.5%   
Aerospace & Defense - 4.9%   
General Dynamics Corp. 239,300 40,734 
Huntington Ingalls Industries, Inc. 76,500 16,020 
KEYW Holding Corp. (a)(e) 1,868,837 13,829 
Kratos Defense & Security Solutions, Inc. (a) 1,140,600 19,607 
Northrop Grumman Corp. 142,700 41,377 
Space Exploration Technologies Corp.:   
Class A (a)(b)(c) 58,589 10,898 
Class C (a)(b)(c) 818 152 
Teledyne Technologies, Inc. (a) 46,800 11,047 
  153,664 
Commercial Services & Supplies - 1.0%   
KAR Auction Services, Inc. 283,900 13,386 
Stericycle, Inc. (a) 125,800 5,608 
U.S. Ecology, Inc. 193,056 11,078 
  30,072 
Electrical Equipment - 0.4%   
Melrose Industries PLC 5,820,928 13,426 
Industrial Conglomerates - 3.8%   
General Electric Co. 11,611,200 120,638 
Machinery - 1.3%   
Aumann AG (e)(h) 87,886 2,529 
Donaldson Co., Inc. 284,400 14,672 
Pentair PLC 160,200 6,815 
Rational AG 21,024 13,774 
Wabtec Corp. 62,363 4,569 
  42,359 
Marine - 0.5%   
Goodbulk Ltd. (c) 959,290 15,531 
Trading Companies & Distributors - 0.6%   
Bunzl PLC 549,119 17,283 
TOTAL INDUSTRIALS  392,973 
INFORMATION TECHNOLOGY - 7.5%   
Communications Equipment - 2.4%   
Cisco Systems, Inc. 1,429,900 74,026 
Electronic Equipment & Components - 1.6%   
Amphenol Corp. Class A 280,182 26,329 
Keysight Technologies, Inc. (a) 290,000 24,479 
  50,808 
IT Services - 2.4%   
Akamai Technologies, Inc. (a) 245,400 17,095 
First Data Corp. Class A (a) 1,031,062 25,921 
Leidos Holdings, Inc. 340,800 22,012 
Science Applications International Corp. 123,900 9,255 
  74,283 
Software - 1.1%   
Black Knight, Inc. (a) 690,649 36,086 
TOTAL INFORMATION TECHNOLOGY  235,203 
MATERIALS - 2.4%   
Chemicals - 1.4%   
International Flavors & Fragrances, Inc. 147,000 18,743 
LG Chemical Ltd. 20,430 7,088 
Nutrien Ltd. 205,920 11,209 
Olin Corp. 328,500 8,495 
  45,535 
Metals & Mining - 1.0%   
Franco-Nevada Corp. 143,800 10,833 
Newcrest Mining Ltd. 541,982 9,350 
Novagold Resources, Inc. (a)(e) 2,588,380 10,267 
  30,450 
TOTAL MATERIALS  75,985 
REAL ESTATE - 1.5%   
Equity Real Estate Investment Trusts (REITs) - 1.4%   
Cousins Properties, Inc. 901,553 8,583 
Crown Castle International Corp. 78,200 9,286 
Healthcare Trust of America, Inc. 274,800 7,829 
Spirit MTA REIT 190,380 1,399 
Spirit Realty Capital, Inc. 380,760 14,713 
VEREIT, Inc. 471,400 3,757 
  45,567 
Real Estate Management & Development - 0.1%   
Realogy Holdings Corp. (e) 221,500 3,012 
TOTAL REAL ESTATE  48,579 
UTILITIES - 6.0%   
Electric Utilities - 6.0%   
Alliant Energy Corp. 409,800 18,798 
Duke Energy Corp. 629,600 56,450 
Exelon Corp. 454,100 22,065 
IDACORP, Inc. 260,800 25,665 
OGE Energy Corp. 265,200 11,276 
Southern Co. 500,000 24,845 
Xcel Energy, Inc. 557,200 30,568 
  189,667 
TOTAL COMMON STOCKS   
(Cost $2,621,670)  3,039,774 
Preferred Stocks - 1.5%   
Convertible Preferred Stocks - 1.5%   
CONSUMER DISCRETIONARY - 0.7%   
Leisure Products - 0.5%   
Peloton Interactive, Inc.:   
Series E (a)(b)(c) 923,284 13,332 
Series F (b)(c) 298,932 4,317 
  17,649 
Textiles, Apparel & Luxury Goods - 0.2%   
Allbirds, Inc.:   
Series A (b)(c) 1,755 96 
Series B (b)(c) 308 17 
Series C (b)(c) 2,947 162 
Bolt Threads, Inc. Series D (a)(b)(c) 390,327 5,297 
  5,572 
TOTAL CONSUMER DISCRETIONARY  23,221 
HEALTH CARE - 0.2%   
Health Care Equipment & Supplies - 0.2%   
Butterfly Network, Inc. Series D (b)(c) 658,083 6,759 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series H (a)(b)(c) 7,570 1,408 
INFORMATION TECHNOLOGY - 0.5%   
Software - 0.5%   
Lyft, Inc.:   
Series H (a)(b)(c) 143,083 7,111 
Series I (b)(c) 151,561 7,533 
  14,644 
TOTAL CONVERTIBLE PREFERRED STOCKS  46,032 
Nonconvertible Preferred Stocks - 0.0%   
CONSUMER DISCRETIONARY - 0.0%   
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc. (b)(c) 943 52 
TOTAL PREFERRED STOCKS   
(Cost $36,550)  46,084 
 Principal Amount (000s) Value (000s) 
Corporate Bonds - 0.0%   
Convertible Bonds - 0.0%   
COMMUNICATION SERVICES - 0.0%   
Entertainment - 0.0%   
Trion World, Inc. 8% 10/10/19 pay-in-kind (b)(c)(i)(j) 474 
Nonconvertible Bonds - 0.0%   
ENERGY - 0.0%   
Energy Equipment & Services - 0.0%   
Pacific Drilling Second Lien Escrow Issuer Ltd. 12% 4/1/24 pay-in-kind (h)(j) 179 184 
TOTAL CORPORATE BONDS   
(Cost $656)  184 
 Shares Value (000s) 
Other - 0.2%   
ENERGY - 0.2%   
Oil, Gas & Consumable Fuels - 0.2%   
Utica Shale Drilling Program (non-operating revenue interest) (b)(c)(d)   
(Cost $8,368) 8,367,654 4,262 
Money Market Funds - 3.2%   
Fidelity Cash Central Fund, 2.44% (k) 55,397,358 55,408 
Fidelity Securities Lending Cash Central Fund 2.45% (k)(l) 46,091,058 46,096 
TOTAL MONEY MARKET FUNDS   
(Cost $101,501)  101,504 
TOTAL INVESTMENT IN SECURITIES - 101.5%   
(Cost $2,768,745)  3,191,808 
NET OTHER ASSETS (LIABILITIES) - (1.5)%  (45,836) 
NET ASSETS - 100%  $3,145,972 

Values shown as $0 in the Schedule of Investments may reflect amounts less than $500.

Legend

 (a) Non-income producing

 (b) Restricted securities - 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 $74,904,000 or 2.4% of net assets.

 (c) Level 3 security

 (d) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (e) Security or a portion of the security is on loan at period end.

 (f) Investment is owned by an entity that is treated as a U.S. Corporation for tax purposes in which the Fund holds a percentage ownership.

 (g) Affiliated company

 (h) 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 $2,713,000 or 0.1% of net assets.

 (i) Non-income producing - Security is in default.

 (j) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.

 (k) 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.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
Allbirds, Inc. 10/9/18 $244 
Allbirds, Inc. 10/9/18 $52 
Allbirds, Inc. Series A 10/9/18 $96 
Allbirds, Inc. Series B 10/9/18 $17 
Allbirds, Inc. Series C 10/9/18 $162 
Bolt Threads, Inc. Series D 12/13/17 $6,261 
Butterfly Network, Inc. Series D 5/4/18 $6,759 
Lyft, Inc. Series H 11/22/17 $5,687 
Lyft, Inc. Series I 6/27/18 $7,177 
New Academy Holding Co. LLC unit 8/1/11 $6,956 
Peloton Interactive, Inc. Series E 3/31/17 $5,000 
Peloton Interactive, Inc. Series F 8/30/18 $4,317 
Space Exploration Technologies Corp. Class A 4/8/16 - 9/11/17 $5,981 
Space Exploration Technologies Corp. Class C 9/11/17 $110 
Space Exploration Technologies Corp. Series H 8/4/17 $1,022 
Trion World, Inc. 8/22/08 - 3/20/13 $5,798 
Trion World, Inc. 8% 10/10/19 pay-in-kind 10/10/13 - 4/10/18 $473 
Utica Shale Drilling Program (non-operating revenue interest) 10/5/16 - 9/1/17 $8,368 
WME Entertainment Parent, LLC Class A 8/16/16 $7,349 

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 
 (Amounts in thousands) 
Fidelity Cash Central Fund $504 
Fidelity Securities Lending Cash Central Fund 142 
Total $646 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

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 (Amounts in thousands) Value, beginning of period Purchases Sales Proceeds Dividend Income Realized Gain (loss) Change in Unrealized appreciation (depreciation) Value, end of period 
Legacy Reserves, Inc. $12,054 $-- $-- $-- $-- $(5,326) $6,728 
Total $12,054 $-- $-- $-- $-- $(5,326) $6,728 

Investment Valuation

The following is a summary of the inputs used, as of February 28, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
(Amounts in thousands)     
Investments in Securities:     
Equities:     
Communication Services $123,008 $111,985 $-- $11,023 
Consumer Discretionary 393,620 367,862 -- 25,758 
Consumer Staples 279,649 254,285 25,364 -- 
Energy 375,640 375,640 -- -- 
Financials 599,372 599,372 -- -- 
Health Care 356,110 337,630 11,721 6,759 
Industrials 394,381 366,392 -- 27,989 
Information Technology 249,847 235,203 -- 14,644 
Materials 75,985 75,985 -- -- 
Real Estate 48,579 48,579 -- -- 
Utilities 189,667 189,667 -- -- 
Corporate Bonds 184 -- 184 -- 
Other 4,262 -- -- 4,262 
Money Market Funds 101,504 101,504 -- -- 
Total Investments in Securities: $3,191,808 $3,064,104 $37,269 $90,435 

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

(Amounts in thousands)  
Investments in Securities:  
Beginning Balance $88,297 
Net Realized Gain (Loss) on Investment Securities -- 
Net Unrealized Gain (Loss) on Investment Securities 2,065 
Cost of Purchases 73 
Proceeds of Sales -- 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 -- 
Ending Balance $90,435 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2019 $2,065 

The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

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. Equity securities, including restricted securities, for which observable inputs are not available, are valued using alternate valuation approaches, including the market approach and the income approach and are categorized as Level 3 in the hierarchy. The market approach generally consists of using comparable market transactions while the income approach generally consists of using the net present value of estimated future cash flows, adjusted as appropriate for liquidity, credit, market and/or other risk factors.

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. Corporate bonds 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.

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.

The following provides information on Level 3 securities held by the fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

Asset Type Fair Value Valuation Technique (s) Unobservable Input Amount or Range / Weighted Average Impact to Valuation from an Increase in Input(a) 
Corporate Bonds $0 Recovery value Recovery value 0.0% Increase 
Equities $70,642 Recovery value Recovery value 0.0% Increase 
   Market comparable Enterprise value/Sales multiple (EV/S) 2.4 - 9.4 / 3.8  Increase 
   Enterprise value/EBITDA multiple (EV/EBITDA) 6.6 Increase 
   Discount rate 9.0% - 30.0% / 21.0% Decrease 
   Discount for lack of marketability 10.0% Decrease 
   Premium rate 10.0% - 96.0% / 70.4% Increase 
  Market approach Transaction price $10.27 - $186.00 / $71.39 Increase 
Other $4,262 Discount cash flow Discount rate 17.5% Decrease 

 (a) Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.


Quarterly Holdings Report
for

Fidelity® Growth Strategies Fund

February 28, 2019







FEG-QTLY-0419
1.797938.115





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.5%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 3.7%   
Entertainment - 3.2%   
Electronic Arts, Inc. (a) 153,500 $14,702 
Live Nation Entertainment, Inc. (a) 556,935 31,500 
Take-Two Interactive Software, Inc. (a) 433,830 37,856 
  84,058 
Interactive Media & Services - 0.5%   
TripAdvisor, Inc. (a) 257,663 13,700 
TOTAL COMMUNICATION SERVICES  97,758 
CONSUMER DISCRETIONARY - 12.2%   
Distributors - 0.9%   
Pool Corp. 143,800 22,942 
Diversified Consumer Services - 1.4%   
Service Corp. International 875,000 36,173 
Hotels, Restaurants & Leisure - 1.2%   
Domino's Pizza, Inc. 105,000 26,349 
Planet Fitness, Inc. (a) 115,800 6,807 
  33,156 
Internet & Direct Marketing Retail - 0.9%   
GrubHub, Inc. (a)(b) 281,633 22,976 
Multiline Retail - 1.9%   
Dollar General Corp. 414,000 49,042 
Specialty Retail - 3.6%   
Best Buy Co., Inc. 84,100 5,789 
Burlington Stores, Inc. (a) 105,250 17,865 
Ross Stores, Inc. 510,200 48,382 
Ulta Beauty, Inc. (a) 72,860 22,768 
  94,804 
Textiles, Apparel & Luxury Goods - 2.3%   
Carter's, Inc. 217,100 21,154 
Deckers Outdoor Corp. (a) 9,200 1,361 
VF Corp. 430,000 37,565 
  60,080 
TOTAL CONSUMER DISCRETIONARY  319,173 
CONSUMER STAPLES - 4.3%   
Beverages - 1.1%   
Brown-Forman Corp. Class B (non-vtg.) 445,000 22,023 
Monster Beverage Corp. (a) 101,861 6,502 
  28,525 
Food Products - 1.3%   
Lamb Weston Holdings, Inc. 42,145 2,921 
The Hershey Co. 274,000 30,326 
  33,247 
Household Products - 1.1%   
Clorox Co. 179,900 28,430 
Personal Products - 0.8%   
Estee Lauder Companies, Inc. Class A 36,000 5,650 
Herbalife Nutrition Ltd. (a) 278,000 15,596 
  21,246 
TOTAL CONSUMER STAPLES  111,448 
ENERGY - 0.4%   
Oil, Gas & Consumable Fuels - 0.4%   
Marathon Petroleum Corp. 170,000 10,542 
FINANCIALS - 6.8%   
Banks - 1.9%   
Citizens Financial Group, Inc. 1,055,000 38,972 
Huntington Bancshares, Inc. 680,000 9,799 
  48,771 
Capital Markets - 4.5%   
MarketAxess Holdings, Inc. 91,190 22,239 
Moody's Corp. 270,000 46,742 
MSCI, Inc. 200,000 36,944 
S&P Global, Inc. 61,211 12,265 
  118,190 
Insurance - 0.4%   
Progressive Corp. 132,733 9,676 
TOTAL FINANCIALS  176,637 
HEALTH CARE - 14.9%   
Health Care Equipment & Supplies - 5.9%   
DexCom, Inc. (a) 71,000 9,892 
Edwards Lifesciences Corp. (a) 350,000 59,252 
Intuitive Surgical, Inc. (a) 27,000 14,785 
Masimo Corp. (a) 48,000 6,301 
ResMed, Inc. 539,700 55,281 
Teleflex, Inc. 24,010 6,959 
  152,470 
Health Care Providers & Services - 3.9%   
Centene Corp. (a) 610,000 37,143 
Covetrus, Inc. (a) 33,000 1,181 
Elanco Animal Health, Inc. (b) 13,300 402 
Wellcare Health Plans, Inc. (a) 248,000 62,888 
  101,614 
Life Sciences Tools & Services - 4.8%   
Charles River Laboratories International, Inc. (a) 323,000 45,921 
Mettler-Toledo International, Inc. (a) 62,100 42,285 
Waters Corp. (a) 152,854 37,024 
  125,230 
Pharmaceuticals - 0.3%   
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 529,400 8,910 
TOTAL HEALTH CARE  388,224 
INDUSTRIALS - 15.8%   
Aerospace & Defense - 3.5%   
Huntington Ingalls Industries, Inc. 238,448 49,933 
TransDigm Group, Inc. (a) 92,200 40,023 
  89,956 
Airlines - 0.4%   
Alaska Air Group, Inc. 180,000 11,106 
Commercial Services & Supplies - 3.4%   
Cintas Corp. 190,000 39,254 
Copart, Inc. (a) 522,000 30,626 
KAR Auction Services, Inc. 412,900 19,468 
  89,348 
Electrical Equipment - 2.5%   
AMETEK, Inc. 332,000 26,421 
Fortive Corp. 467,583 38,141 
  64,562 
Industrial Conglomerates - 3.0%   
ITT, Inc. 280,084 16,178 
Roper Technologies, Inc. 194,700 63,015 
  79,193 
Machinery - 2.1%   
IDEX Corp. 224,000 32,278 
Toro Co. 331,000 22,700 
  54,978 
Professional Services - 0.9%   
CoStar Group, Inc. (a) 12,689 5,806 
Equifax, Inc. 159,000 17,412 
  23,218 
TOTAL INDUSTRIALS  412,361 
INFORMATION TECHNOLOGY - 36.4%   
Communications Equipment - 2.1%   
Arista Networks, Inc. (a) 37,000 10,554 
F5 Networks, Inc. (a) 262,000 44,053 
  54,607 
Electronic Equipment & Components - 2.0%   
Amphenol Corp. Class A 457,000 42,944 
CDW Corp. 59,000 5,540 
Keysight Technologies, Inc. (a) 45,428 3,835 
  52,319 
IT Services - 13.1%   
Adyen BV (c) 1,400 1,051 
Akamai Technologies, Inc. (a) 299,560 20,867 
Alliance Data Systems Corp. 127,506 22,059 
Broadridge Financial Solutions, Inc. 38,999 3,949 
Fiserv, Inc. (a) 751,000 63,602 
Global Payments, Inc. 263,663 34,376 
Total System Services, Inc. 918,800 86,735 
VeriSign, Inc. (a) 500,000 89,017 
Worldpay, Inc. (a) 203,000 19,447 
  341,103 
Semiconductors & Semiconductor Equipment - 9.9%   
Analog Devices, Inc. 347,000 37,115 
Broadcom, Inc. 28,500 7,848 
KLA-Tencor Corp. 302,900 34,982 
Lam Research Corp. 261,000 45,959 
NXP Semiconductors NV 200,000 18,264 
ON Semiconductor Corp. (a) 2,780,066 59,716 
Skyworks Solutions, Inc. 357,650 29,206 
Xilinx, Inc. 199,178 24,957 
  258,047 
Software - 9.3%   
Adobe, Inc. (a) 50,000 13,125 
Black Knight, Inc. (a) 270,600 14,139 
Cadence Design Systems, Inc. (a) 102,000 5,840 
CDK Global, Inc. 175,000 10,152 
Check Point Software Technologies Ltd. (a) 179,000 21,892 
Citrix Systems, Inc. 585,000 61,718 
Fortinet, Inc. (a) 99,200 8,610 
Intuit, Inc. 44,000 10,874 
LogMeIn, Inc. 24,200 1,922 
Parametric Technology Corp. (a) 341,000 31,652 
Red Hat, Inc. (a) 32,080 5,858 
ServiceNow, Inc. (a) 20,700 4,956 
Workday, Inc. Class A (a) 267,550 52,956 
  243,694 
TOTAL INFORMATION TECHNOLOGY  949,770 
MATERIALS - 0.8%   
Chemicals - 0.8%   
Sherwin-Williams Co. 19,100 8,274 
Westlake Chemical Corp. 173,700 12,136 
  20,410 
REAL ESTATE - 1.7%   
Equity Real Estate Investment Trusts (REITs) - 1.7%   
Equity Lifestyle Properties, Inc. 264,900 28,779 
SBA Communications Corp. Class A (a) 79,999 14,445 
  43,224 
UTILITIES - 0.5%   
Independent Power and Renewable Electricity Producers - 0.5%   
NRG Energy, Inc. 335,900 14,000 
TOTAL COMMON STOCKS   
(Cost $1,956,552)  2,543,547 
Money Market Funds - 2.8%   
Fidelity Cash Central Fund, 2.44% (d) 53,785,514 53,796 
Fidelity Securities Lending Cash Central Fund 2.45% (d)(e) 19,165,883 19,168 
TOTAL MONEY MARKET FUNDS   
(Cost $72,962)  72,964 
TOTAL INVESTMENT IN SECURITIES - 100.3%   
(Cost $2,029,514)  2,616,511 
NET OTHER ASSETS (LIABILITIES) - (0.3)%  (8,203) 
NET ASSETS - 100%  $2,608,308 

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 $1,051,000 or 0.0% 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 
 (Amounts in thousands) 
Fidelity Cash Central Fund $336 
Fidelity Securities Lending Cash Central Fund 
Total $345 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.


Quarterly Holdings Report
for

Fidelity® Series Growth Company Fund

February 28, 2019







XS7-QTLY-0419
1.968012.105





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.8%   
 Shares Value 
COMMUNICATION SERVICES - 12.9%   
Diversified Telecommunication Services - 0.2%   
Verizon Communications, Inc. 329,400 $18,749,448 
Entertainment - 3.1%   
Activision Blizzard, Inc. 1,266,100 53,353,454 
Electronic Arts, Inc. (a) 409,100 39,183,598 
Lions Gate Entertainment Corp.:   
Class A (b) 22,700 350,715 
Class B 20,200 296,738 
Live Nation Entertainment, Inc. (a) 315,600 17,850,336 
NetEase, Inc. ADR 54,600 12,187,812 
Netflix, Inc. (a) 554,500 198,566,450 
Nintendo Co. Ltd. 18,600 5,100,850 
The Walt Disney Co. 400,300 45,169,852 
  372,059,805 
Interactive Media & Services - 9.0%   
Alphabet, Inc.:   
Class A (a) 416,370 469,061,624 
Class C (a) 222,656 249,356,908 
CarGurus, Inc. Class A (a) 15,400 658,042 
Facebook, Inc. Class A (a) 1,994,458 322,005,244 
Match Group, Inc. (b) 56,400 3,123,432 
Snap, Inc. Class A (a)(b) 1,162,197 11,389,531 
Tencent Holdings Ltd. 306,500 13,125,327 
Twitter, Inc. (a) 145,990 4,493,572 
  1,073,213,680 
Media - 0.2%   
Comcast Corp. Class A 602,800 23,310,276 
Turn, Inc. (Escrow) (a)(c)(d) 205,882 136,912 
  23,447,188 
Wireless Telecommunication Services - 0.4%   
T-Mobile U.S., Inc. (a) 724,100 52,287,261 
TOTAL COMMUNICATION SERVICES  1,539,757,382 
CONSUMER DISCRETIONARY - 19.8%   
Auto Components - 0.0%   
Garrett Motion, Inc. (a)(b) 33,950 568,323 
Automobiles - 0.8%   
Tesla, Inc. (a)(b) 315,400 100,890,152 
Hotels, Restaurants & Leisure - 1.0%   
Chipotle Mexican Grill, Inc. (a) 16,900 10,267,257 
Hyatt Hotels Corp. Class A 62,800 4,569,956 
Marriott International, Inc. Class A 33,700 4,221,599 
McDonald's Corp. 106,900 19,652,496 
Planet Fitness, Inc. (a) 94,500 5,554,710 
Sea Ltd. ADR (a) 290,600 6,247,900 
Shake Shack, Inc. Class A (a) 44,200 2,437,188 
Starbucks Corp. 593,200 41,678,232 
YETI Holdings, Inc. (b) 125,000 2,998,750 
Yum China Holdings, Inc. 329,000 13,725,880 
Yum! Brands, Inc. 32,800 3,099,600 
  114,453,568 
Household Durables - 1.0%   
iRobot Corp. (a)(b) 323,500 40,456,910 
Roku, Inc. (a) 148,375 9,835,779 
Roku, Inc. Class A (a)(b) 1,080,799 71,646,166 
  121,938,855 
Internet & Direct Marketing Retail - 9.0%   
Alibaba Group Holding Ltd. sponsored ADR (a) 294,300 53,865,729 
Amazon.com, Inc. (a) 447,899 734,478,212 
Ctrip.com International Ltd. ADR (a) 134,800 4,600,724 
eBay, Inc. 254,700 9,462,105 
Etsy, Inc. (a) 51,200 3,649,024 
Expedia, Inc. 81,000 9,988,110 
JD.com, Inc. sponsored ADR (a) 875,500 24,260,105 
Ocado Group PLC (a) 387,100 5,311,434 
The Booking Holdings, Inc. (a) 26,500 44,971,560 
The Honest Co., Inc. (a)(c)(d) 9,496 98,663 
Wayfair LLC Class A (a) 1,069,608 177,212,653 
Zozo, Inc. 60,600 1,139,529 
  1,069,037,848 
Leisure Products - 0.1%   
Callaway Golf Co. 490,600 8,443,226 
Multiline Retail - 0.3%   
Dollar General Corp. 72,900 8,635,734 
Dollar Tree, Inc. (a) 287,300 27,675,609 
Ollie's Bargain Outlet Holdings, Inc. (a) 47,200 4,163,984 
Target Corp. 33,500 2,433,440 
  42,908,767 
Specialty Retail - 1.8%   
Carvana Co. Class A (a) 127,200 5,706,192 
Five Below, Inc. (a) 25,200 3,032,820 
Home Depot, Inc. 516,600 95,643,324 
L Brands, Inc. 31,300 818,182 
Lowe's Companies, Inc. 397,110 41,732,290 
RH (a)(b) 282,144 43,334,497 
TJX Companies, Inc. 391,600 20,085,164 
  210,352,469 
Textiles, Apparel & Luxury Goods - 5.8%   
adidas AG 739,291 179,617,639 
Allbirds, Inc. (c)(d) 16,248 890,972 
Canada Goose Holdings, Inc. (a) 375,571 21,393,520 
Kering SA 26,265 14,343,047 
lululemon athletica, Inc. (a) 2,056,820 309,386,864 
NIKE, Inc. Class B 593,100 50,846,463 
Rubius Therapeutics, Inc. (e) 461,018 7,320,966 
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) 2,475,910 83,264,853 
Tory Burch LLC (a)(c)(d)(f) 248,840 13,857,900 
Under Armour, Inc. Class C (non-vtg.) (a) 214,559 4,308,345 
VF Corp. 103,600 9,050,496 
  694,281,065 
TOTAL CONSUMER DISCRETIONARY  2,362,874,273 
CONSUMER STAPLES - 4.5%   
Beverages - 2.0%   
Fever-Tree Drinks PLC 457,702 16,257,416 
Keurig Dr. Pepper, Inc. 1,270,400 31,950,560 
Monster Beverage Corp. (a) 1,700,600 108,549,298 
PepsiCo, Inc. 151,600 17,531,024 
The Coca-Cola Co. 1,369,100 62,074,994 
  236,363,292 
Food & Staples Retailing - 0.9%   
Costco Wholesale Corp. 229,600 50,222,704 
Kroger Co. 1,819,000 53,351,270 
  103,573,974 
Food Products - 0.3%   
Darling International, Inc. (a) 142,100 3,123,358 
Lamb Weston Holdings, Inc. 207,900 14,409,549 
Mondelez International, Inc. 290,600 13,704,696 
The Hershey Co. 41,700 4,615,356 
The Kraft Heinz Co. 13,700 454,703 
  36,307,662 
Household Products - 0.2%   
Church & Dwight Co., Inc. 204,600 13,462,680 
Colgate-Palmolive Co. 84,100 5,539,667 
Kimberly-Clark Corp. 24,500 2,862,335 
  21,864,682 
Personal Products - 0.4%   
Coty, Inc. Class A 1,522,400 16,746,400 
Godrej Consumer Products Ltd. 105,996 1,006,767 
Herbalife Nutrition Ltd. (a) 444,700 24,947,670 
Unilever NV (Certificaten Van Aandelen) (Bearer) 180,400 9,770,034 
  52,470,871 
Tobacco - 0.7%   
Altria Group, Inc. 1,555,600 81,528,996 
JUUL Labs, Inc. Class A (c)(d) 13,297 3,580,217 
Philip Morris International, Inc. 25,900 2,251,746 
  87,360,959 
TOTAL CONSUMER STAPLES  537,941,440 
ENERGY - 1.5%   
Energy Equipment & Services - 0.1%   
Baker Hughes, a GE Co. Class A 475,200 12,535,776 
Halliburton Co. 84,200 2,584,098 
  15,119,874 
Oil, Gas & Consumable Fuels - 1.4%   
Anadarko Petroleum Corp. 11,800 513,300 
Cabot Oil & Gas Corp. 534,000 13,147,080 
Concho Resources, Inc. 6,500 715,000 
Continental Resources, Inc. (a) 33,900 1,512,279 
Devon Energy Corp. 31,700 935,467 
EOG Resources, Inc. 447,300 42,046,200 
Hess Corp. 432,500 25,020,125 
Noble Energy, Inc. 362,100 8,020,515 
Occidental Petroleum Corp. 99,500 6,581,925 
PDC Energy, Inc. (a) 106,638 3,953,071 
Pioneer Natural Resources Co. 121,293 17,096,248 
Range Resources Corp. 400,300 4,283,210 
Reliance Industries Ltd. 1,429,331 24,838,762 
Southwestern Energy Co. (a) 163,100 689,913 
Valero Energy Corp. 136,500 11,132,940 
  160,486,035 
TOTAL ENERGY  175,605,909 
FINANCIALS - 2.2%   
Banks - 0.8%   
Bank of America Corp. 453,300 13,181,964 
HDFC Bank Ltd. sponsored ADR 338,311 34,210,008 
JPMorgan Chase & Co. 354,100 36,953,876 
Signature Bank 18,200 2,470,832 
Wells Fargo & Co. 130,100 6,490,689 
  93,307,369 
Capital Markets - 1.1%   
BlackRock, Inc. Class A 70,100 31,069,722 
Charles Schwab Corp. 1,710,600 78,704,706 
Edelweiss Financial Services Ltd. 1,812,587 3,499,030 
T. Rowe Price Group, Inc. 105,100 10,555,193 
  123,828,651 
Consumer Finance - 0.3%   
American Express Co. 312,700 33,690,298 
Discover Financial Services 36,958 2,646,562 
  36,336,860 
Diversified Financial Services - 0.0%   
Neon Therapeutics, Inc. (e) 268,754 1,674,337 
Insurance - 0.0%   
Hiscox Ltd. 86,900 1,843,004 
TOTAL FINANCIALS  256,990,221 
HEALTH CARE - 18.9%   
Biotechnology - 12.6%   
AbbVie, Inc. 347,784 27,558,404 
ACADIA Pharmaceuticals, Inc. (a)(b) 2,121,687 56,224,706 
Agios Pharmaceuticals, Inc. (a)(b) 714,352 46,340,014 
Alexion Pharmaceuticals, Inc. (a) 360,200 48,745,866 
Alkermes PLC (a) 1,643,059 54,664,573 
Allakos, Inc. (a) 36,400 1,454,544 
Allogene Therapeutics, Inc. (b) 232,807 7,377,654 
Allogene Therapeutics, Inc. 80,261 2,416,298 
Alnylam Pharmaceuticals, Inc. (a) 1,434,178 121,905,130 
Amgen, Inc. 306,000 58,164,480 
AnaptysBio, Inc. (a) 147,900 10,185,873 
Argenx SE ADR (a) 30,658 4,086,405 
Array BioPharma, Inc. (a) 1,440,400 33,042,776 
aTyr Pharma, Inc. (a) 398,874 191,460 
BeiGene Ltd. 454,500 4,846,224 
BeiGene Ltd. ADR (a)(b) 649,436 89,005,204 
Biogen, Inc. (a) 90,700 29,750,507 
bluebird bio, Inc. (a)(b) 762,465 118,349,817 
Blueprint Medicines Corp. (a) 125,000 10,273,750 
Calyxt, Inc. (a) 460,500 7,381,815 
Celgene Corp. (a) 238,100 19,790,872 
Cellectis SA sponsored ADR (a) 290,045 5,186,005 
Cibus Corp. Series C (c)(d)(f) 1,142,857 1,245,714 
Coherus BioSciences, Inc. (a) 306,292 4,392,227 
Constellation Pharmaceuticals, Inc. 50,600 511,060 
Constellation Pharmaceuticals, Inc. (e) 83,878 847,168 
Crinetics Pharmaceuticals, Inc. (a) 52,200 1,247,580 
CytomX Therapeutics, Inc. (a) 316,743 3,553,856 
CytomX Therapeutics, Inc. (a)(e) 207,739 2,330,832 
Denali Therapeutics, Inc. (a)(b) 168,800 3,673,088 
Evelo Biosciences, Inc. (b) 179,200 1,575,168 
Evelo Biosciences, Inc. (e) 230,736 2,028,169 
Exact Sciences Corp. (a) 79,600 7,243,600 
Exelixis, Inc. (a) 2,584,984 57,877,792 
Fate Therapeutics, Inc. (a) 800,173 12,570,718 
Five Prime Therapeutics, Inc.(a) 418,500 4,846,230 
Global Blood Therapeutics, Inc. (a) 435,100 22,842,750 
Heron Therapeutics, Inc. (a) 154,251 4,083,024 
Homology Medicines, Inc. (a)(b) 102,300 3,015,804 
Homology Medicines, Inc. (e) 182,088 5,367,954 
Intellia Therapeutics, Inc. (a)(b) 175,138 2,667,352 
Intercept Pharmaceuticals, Inc. (a) 43,000 4,288,820 
Ionis Pharmaceuticals, Inc. (a) 2,165,279 153,713,156 
Ironwood Pharmaceuticals, Inc. Class A (a) 1,280,956 18,240,813 
Jounce Therapeutics, Inc. (a) 36,200 161,090 
Kaleido Biosciences, Inc. (a) 96,000 1,366,080 
Kaleido Biosciences, Inc. 106,348 1,361,999 
Kiniksa Pharmaceuticals Ltd. (e) 90,238 1,619,772 
Lexicon Pharmaceuticals, Inc. (a)(b) 1,783,077 9,485,970 
Macrogenics, Inc. (a) 115,400 2,308,000 
Mirati Therapeutics, Inc. (a) 72,800 5,299,840 
Moderna, Inc. 1,479,140 30,085,708 
Moderna, Inc. (b) 225,000 5,085,000 
Momenta Pharmaceuticals, Inc. (a) 1,803,395 25,409,836 
Principia Biopharma, Inc. 53,800 1,905,596 
Protagonist Therapeutics, Inc. (a) 263,400 2,112,468 
Prothena Corp. PLC (a) 395,377 5,298,052 
Regeneron Pharmaceuticals, Inc. (a) 174,200 75,034,908 
Rigel Pharmaceuticals, Inc. (a) 3,315,812 7,261,628 
Rubius Therapeutics, Inc. (b) 422,500 6,709,300 
Sage Therapeutics, Inc. (a) 668,934 106,527,740 
Sarepta Therapeutics, Inc. (a) 45,600 6,577,344 
Scholar Rock Holding Corp. 159,849 2,976,388 
Seres Therapeutics, Inc. (a)(b) 514,837 3,155,951 
Seres Therapeutics, Inc. (a)(e) 142,139 871,312 
Sienna Biopharmaceuticals, Inc. (a)(b) 465,448 1,186,892 
Sienna Biopharmaceuticals, Inc. (a)(e) 155,108 395,525 
Spark Therapeutics, Inc. (a) 181,400 20,552,620 
Synthorx, Inc. 105,600 2,102,496 
Syros Pharmaceuticals, Inc. (a) 513,060 3,483,677 
Syros Pharmaceuticals, Inc. (a)(e) 301,001 2,043,797 
Translate Bio, Inc. (e) 518,118 5,284,804 
Translate Bio, Inc. 116,200 1,185,240 
Ultragenyx Pharmaceutical, Inc. (a) 164,200 10,531,788 
uniQure B.V. (a) 252,700 13,643,273 
UNITY Biotechnology, Inc. (e) 308,360 3,083,600 
UNITY Biotechnology, Inc. (b) 289,600 2,896,000 
Vertex Pharmaceuticals, Inc. (a) 126,000 23,782,500 
Wuxi Biologics (Cayman), Inc. (a)(e) 1,124,000 10,667,601 
Xencor, Inc. (a) 392,000 11,893,280 
Zai Lab Ltd. ADR (a) 511,715 14,747,626 
  1,503,199,953 
Health Care Equipment & Supplies - 3.2%   
Abbott Laboratories 204,221 15,851,634 
Align Technology, Inc. (a) 23,034 5,965,115 
Boston Scientific Corp. (a) 588,500 23,610,620 
Danaher Corp. 423,600 53,805,672 
DexCom, Inc. (a) 254,200 35,417,686 
Genmark Diagnostics, Inc. (a) 550,700 4,234,883 
Insulet Corp. (a) 527,520 49,539,403 
Intuitive Surgical, Inc. (a) 134,821 73,829,328 
Novocure Ltd. (a) 1,156,900 62,137,099 
Novocure Ltd. (a)(e) 149,451 8,027,013 
Penumbra, Inc. (a) 298,792 39,939,527 
Presbia PLC (a) 443,695 260,893 
Wright Medical Group NV (a) 254,700 7,974,657 
  380,593,530 
Health Care Providers & Services - 0.9%   
Centene Corp. (a) 98,400 5,991,576 
G1 Therapeutics, Inc. (a) 99,900 1,844,154 
Humana, Inc. 17,000 4,845,680 
Laboratory Corp. of America Holdings (a) 31,200 4,625,088 
Notre Dame Intermedica Participacoes SA 414,900 3,669,443 
OptiNose, Inc. (a)(b) 459,375 3,408,563 
OptiNose, Inc. (e) 301,785 2,239,245 
UnitedHealth Group, Inc. 312,400 75,669,528 
  102,293,277 
Health Care Technology - 0.1%   
Castlight Health, Inc. Class B (a) 777,600 2,480,544 
Teladoc Health, Inc. (a)(b) 105,300 6,777,108 
  9,257,652 
Life Sciences Tools & Services - 0.1%   
Illumina, Inc. (a) 13,262 4,147,956 
Thermo Fisher Scientific, Inc. 42,200 10,953,854 
  15,101,810 
Pharmaceuticals - 2.0%   
Adimab LLC (a)(c)(d)(f) 762,787 32,044,682 
Akcea Therapeutics, Inc. (a)(b) 1,519,139 51,696,300 
Bristol-Myers Squibb Co. 273,600 14,134,176 
Intra-Cellular Therapies, Inc. (a) 1,033,406 14,074,990 
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) 45,400 487,629 
Kolltan Pharmaceuticals, Inc. rights (a)(d) 1,692,030 17 
MyoKardia, Inc. (a) 461,100 20,680,335 
Nektar Therapeutics (a) 1,652,664 66,998,998 
Rhythm Pharmaceuticals, Inc. (a) 114,300 3,278,124 
RPI International Holdings LP (a)(c)(d) 35,220 5,463,326 
Stemcentrx, Inc. rights 12/31/21 (a)(d) 568,100 693,082 
The Medicines Company (a) 633,523 15,629,012 
Theravance Biopharma, Inc. (a) 347,148 8,425,282 
  233,605,953 
TOTAL HEALTH CARE  2,244,052,175 
INDUSTRIALS - 5.2%   
Aerospace & Defense - 1.4%   
Lockheed Martin Corp. 114,800 35,520,268 
Northrop Grumman Corp. 14,600 4,233,416 
Space Exploration Technologies Corp. Class A (a)(c)(d) 137,569 25,587,834 
The Boeing Co. 192,300 84,604,308 
United Technologies Corp. 117,400 14,753,658 
  164,699,484 
Air Freight & Logistics - 0.2%   
FedEx Corp. 22,800 4,126,800 
United Parcel Service, Inc. Class B 236,500 26,062,300 
  30,189,100 
Airlines - 1.1%   
Azul SA sponsored ADR (a) 140,500 4,182,685 
Delta Air Lines, Inc. 203,100 10,069,698 
JetBlue Airways Corp. (a) 1,199,400 20,029,980 
Ryanair Holdings PLC sponsored ADR (a) 124,010 9,243,705 
Southwest Airlines Co. 554,100 31,051,764 
Spirit Airlines, Inc. (a) 116,300 6,541,875 
United Continental Holdings, Inc. (a) 157,400 13,821,294 
Wheels Up Partners Holdings LLC:   
Series B (a)(c)(d)(f) 1,843,115 2,764,673 
Series C (a)(c)(d)(f) 670,590 1,005,885 
Wizz Air Holdings PLC (a)(e) 765,173 30,862,720 
  129,574,279 
Building Products - 0.1%   
Resideo Technologies, Inc. (a) 626,433 16,099,328 
Electrical Equipment - 0.3%   
AMETEK, Inc. 5,800 461,564 
Eaton Corp. PLC 70,900 5,655,693 
Emerson Electric Co. 129,100 8,798,165 
Fortive Corp. 219,900 17,937,243 
  32,852,665 
Industrial Conglomerates - 0.8%   
3M Co. 106,800 22,149,252 
General Electric Co. 1,162,400 12,077,336 
Honeywell International, Inc. 378,700 58,346,309 
  92,572,897 
Machinery - 0.8%   
Aumann AG (b)(e) 5,913 170,161 
Caterpillar, Inc. 227,000 31,176,180 
Deere & Co. 125,800 20,636,232 
Illinois Tool Works, Inc. 74,200 10,690,736 
Ingersoll-Rand PLC 34,800 3,673,488 
Wabtec Corp. 5,976 437,802 
Xylem, Inc. 327,100 24,712,405 
  91,497,004 
Professional Services - 0.0%   
CoStar Group, Inc. (a) 7,200 3,294,216 
Road & Rail - 0.5%   
Union Pacific Corp. 330,000 55,341,000 
TOTAL INDUSTRIALS  616,119,973 
INFORMATION TECHNOLOGY - 32.1%   
Communications Equipment - 0.5%   
Arista Networks, Inc. (a) 41,100 11,723,775 
Infinera Corp. (a) 3,566,800 18,226,348 
NETGEAR, Inc. (a) 565,154 20,260,771 
Nokia Corp. sponsored ADR (b) 1,662,500 10,124,625 
Quantenna Communications, Inc. (a) 20,800 377,520 
  60,713,039 
Electronic Equipment & Components - 0.2%   
Arlo Technologies, Inc. 1,541,357 6,674,076 
Cognex Corp. 12,000 640,800 
IPG Photonics Corp. (a) 4,800 744,144 
TE Connectivity Ltd. 24,700 2,027,623 
Trimble, Inc. (a) 455,200 18,212,552 
  28,299,195 
Internet Software & Services - 0.1%   
Farfetch Ltd. Class A (b) 285,200 6,987,400 
IT Services - 5.9%   
Actua Corp. (d) 546,564 349,801 
Cognizant Technology Solutions Corp. Class A 243,400 17,276,532 
Elastic NV (b) 11,000 996,160 
IBM Corp. 22,300 3,080,299 
MasterCard, Inc. Class A 582,300 130,883,571 
MongoDB, Inc. Class A (a) 29,500 2,996,020 
Okta, Inc. (a) 51,200 4,345,856 
PayPal Holdings, Inc. (a) 1,455,200 142,711,464 
Shopify, Inc. Class A (a) 913,649 173,072,246 
Square, Inc. (a) 809,400 65,755,656 
Visa, Inc. Class A 1,034,300 153,200,516 
Wix.com Ltd. (a) 137,207 14,989,865 
  709,657,986 
Semiconductors & Semiconductor Equipment - 6.9%   
Advanced Micro Devices, Inc. (a) 2,438,500 57,377,905 
Applied Materials, Inc. 101,300 3,883,842 
ASML Holding NV 91,300 16,696,031 
Broadcom, Inc. 61,236 16,861,945 
Cirrus Logic, Inc. (a) 216,800 8,700,184 
Cree, Inc. (a) 321,866 17,512,729 
Intel Corp. 17,800 942,688 
KLA-Tencor Corp. 60,600 6,998,694 
Marvell Technology Group Ltd. 404,900 8,077,755 
Micron Technology, Inc. (a) 166,400 6,802,432 
NVIDIA Corp. 3,478,200 536,547,132 
Silicon Laboratories, Inc. (a) 869,782 70,469,738 
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR 319,900 12,492,095 
Texas Instruments, Inc. 410,400 43,412,112 
Xilinx, Inc. 92,900 11,640,370 
  818,415,652 
Software - 13.7%   
2U, Inc. (a) 198,080 14,598,496 
Adobe, Inc. (a) 428,300 112,428,750 
Aspen Technology, Inc. (a) 59,300 5,972,103 
Atlassian Corp. PLC (a) 116,700 12,542,916 
Autodesk, Inc. (a) 394,700 64,340,047 
Avalara, Inc. 14,849 775,266 
Black Knight, Inc. (a) 139,300 7,278,425 
Cadence Design Systems, Inc. (a) 76,200 4,362,450 
Coupa Software, Inc. (a) 100,400 9,456,676 
DocuSign, Inc. 16,200 893,430 
Domo, Inc. (e) 40,872 1,417,850 
HubSpot, Inc. (a) 432,300 72,790,674 
Intuit, Inc. 140,600 34,746,478 
Microsoft Corp. 3,439,192 385,292,680 
New Relic, Inc. (a) 61,246 6,476,765 
Nutanix, Inc. Class A (a) 2,391,951 119,812,826 
Oracle Corp. 258,800 13,491,244 
Parametric Technology Corp. (a) 509,300 47,273,226 
Paylocity Holding Corp. (a) 33,000 2,889,810 
Pluralsight, Inc. 61,800 2,009,118 
Proofpoint, Inc. (a) 117,200 13,840,148 
Q2 Holdings, Inc. (a) 59,900 4,122,318 
Red Hat, Inc. (a) 889,200 162,367,920 
RingCentral, Inc. (a) 17,300 1,821,517 
Salesforce.com, Inc. (a) 2,731,142 446,951,388 
Smartsheet, Inc. 20,800 795,392 
Tenable Holdings, Inc. 19,900 620,482 
Zendesk, Inc. (a) 557,800 44,077,356 
Zscaler, Inc. (a)(b) 777,700 38,636,136 
  1,632,081,887 
Technology Hardware, Storage & Peripherals - 4.8%   
Apple, Inc. 2,910,365 503,929,700 
NetApp, Inc. 91,700 5,978,840 
Pure Storage, Inc. Class A (a) 2,438,678 49,944,125 
Samsung Electronics Co. Ltd. 270,913 10,855,776 
  570,708,441 
TOTAL INFORMATION TECHNOLOGY  3,826,863,600 
MATERIALS - 0.4%   
Chemicals - 0.3%   
CF Industries Holdings, Inc. 358,200 15,116,040 
DowDuPont, Inc. 201,505 10,726,111 
LG Chemical Ltd. 31,711 11,002,351 
The Mosaic Co. 68,100 2,129,487 
  38,973,989 
Metals & Mining - 0.1%   
Barrick Gold Corp. (Canada) 437,700 5,521,350 
TOTAL MATERIALS  44,495,339 
REAL ESTATE - 0.3%   
Equity Real Estate Investment Trusts (REITs) - 0.3%   
American Tower Corp. 185,600 32,693,440 
Ant International Co. Ltd. Class C (c)(d) 419,242 2,653,802 
  35,347,242 
UTILITIES - 0.0%   
Electric Utilities - 0.0%   
DONG Energy A/S (e) 58,000 4,208,954 
TOTAL COMMON STOCKS   
(Cost $6,092,526,765)  11,644,256,508 
Preferred Stocks - 1.8%   
Convertible Preferred Stocks - 1.6%   
COMMUNICATION SERVICES - 0.0%   
Wireless Telecommunication Services - 0.0%   
Altiostar Networks, Inc. Series A1 (a)(c)(d) 202,849 259,647 
CONSUMER DISCRETIONARY - 0.2%   
Hotels, Restaurants & Leisure - 0.1%   
MOD Super Fast Pizza Holdings LLC Series 3 Preferred (a)(c)(d)(f) 17,731 2,875,614 
Neutron Holdings, Inc. Series D (c)(d) 5,678,726 1,377,091 
Topgolf International, Inc. Series F (a)(c)(d) 234,069 2,958,632 
  7,211,337 
Internet & Direct Marketing Retail - 0.0%   
Reddit, Inc. Series B (a)(c)(d) 37,935 822,670 
The Honest Co., Inc.:   
Series C (a)(c)(d) 22,157 856,368 
Series D (a)(c)(d) 19,064 872,369 
  2,551,407 
Leisure Products - 0.1%   
Peloton Interactive, Inc. Series E (a)(c)(d) 776,112 11,207,197 
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc.:   
Series A (c)(d) 6,413 351,662 
Series B (c)(d) 1,127 61,800 
Series C (c)(d) 10,767 590,417 
ORIC Pharmaceuticals, Inc. Series C (a)(c)(d) 316,667 943,668 
  1,947,547 
TOTAL CONSUMER DISCRETIONARY  22,917,488 
CONSUMER STAPLES - 0.1%   
Food & Staples Retailing - 0.1%   
Sweetgreen, Inc. Series H (c)(d) 168,337 2,195,114 
Food Products - 0.0%   
Agbiome LLC Series C (c)(d) 338,565 1,838,408 
Tobacco - 0.0%   
JUUL Labs, Inc. Series E (c)(d) 6,648 1,789,974 
TOTAL CONSUMER STAPLES  5,823,496 
FINANCIALS - 0.0%   
Insurance - 0.0%   
Clover Health Series D (a)(c)(d) 264,037 2,476,086 
HEALTH CARE - 0.4%   
Biotechnology - 0.3%   
10X Genomics, Inc.:   
Series C (a)(c)(d) 715,467 9,107,895 
Series D (c)(d) 100,390 1,277,965 
23andMe, Inc. Series F (a)(c)(d) 164,720 3,182,390 
Axcella Health, Inc.:   
Series C (a)(c)(d) 111,581 1,246,360 
Series E (c)(d) 120,735 1,348,610 
BioNTech AG Series A (a)(c)(d) 25,199 7,276,288 
Fulcrum Therapeutics, Inc. Series B (c)(d) 614,195 1,154,687 
Generation Bio Series B (c)(d) 224,243 2,038,369 
Immunocore Ltd. Series A (a)(c)(d) 18,504 2,389,485 
Intarcia Therapeutics, Inc. Series EE (a)(c)(d) 116,544 4,713,039 
  33,735,088 
Health Care Equipment & Supplies - 0.0%   
Shockwave Medical, Inc. Series C (a)(c) 83,221 1,273,281 
Health Care Providers & Services - 0.1%   
Mulberry Health, Inc. Series A8 (a)(c)(d) 783,663 5,599,883 
Health Care Technology - 0.0%   
Codiak Biosciences, Inc.:   
Series A 8.00% (a)(c)(d) 163,914 595,008 
Series B 8.00% (a)(c)(d) 532,720 1,933,774 
Series C, 8.00% (a)(c)(d) 648,255 2,353,166 
  4,881,948 
Pharmaceuticals - 0.0%   
Castle Creek Pharmaceutical Holdings, Inc. Series B (c)(d) 4,910 2,065,588 
Harmony Biosciences II, Inc. Series A (a)(c)(d) 2,550,636 2,550,636 
Nohla Therapeutics, Inc. Series B (c)(d) 3,126,919 31 
  4,616,255 
TOTAL HEALTH CARE  50,106,455 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series G (a)(c)(d) 53,937 10,032,282 
Professional Services - 0.0%   
YourPeople, Inc. Series C (a)(c)(d) 1,527,000 6,535,560 
TOTAL INDUSTRIALS  16,567,842 
INFORMATION TECHNOLOGY - 0.8%   
Internet Software & Services - 0.0%   
Starry, Inc.:   
Series B (a)(c)(d) 2,961,147 4,234,440 
Series C (a)(c)(d) 1,339,018 1,914,796 
  6,149,236 
IT Services - 0.0%   
AppNexus, Inc. Series E (Escrow) (a)(c)(d) 209,665 202,327 
Jet.Com, Inc. Series B1 (Escrow) (a)(c)(d) 2,105,094 95,571 
  297,898 
Software - 0.8%   
Bird Rides, Inc. Series C (c)(d) 117,022 1,374,482 
Cloudflare, Inc. Series D, 8.00% (a)(c)(d) 560,425 6,164,675 
Dataminr, Inc. Series D (a)(c)(d) 442,241 10,109,629 
Lyft, Inc. Series I (c)(d) 226,423 11,253,223 
Outset Medical, Inc.:   
Series C (a)(c)(d) 382,862 1,190,701 
Series D (c)(d) 373,580 1,161,834 
Taboola.Com Ltd. Series E (a)(c)(d) 331,426 7,009,660 
Uber Technologies, Inc.:   
Series D, 8.00% (a)(c)(d) 1,095,852 53,444,702 
Series E, 8.00% (a)(c)(d) 51,852 2,528,822 
  94,237,728 
TOTAL INFORMATION TECHNOLOGY  100,684,862 
TOTAL CONVERTIBLE PREFERRED STOCKS  198,835,876 
Nonconvertible Preferred Stocks - 0.2%   
CONSUMER DISCRETIONARY - 0.0%   
Textiles, Apparel & Luxury Goods - 0.0%   
Allbirds, Inc. (c)(d) 3,445 188,909 
ENERGY - 0.0%   
Oil, Gas & Consumable Fuels - 0.0%   
Petroleo Brasileiro SA - Petrobras (PN) sponsored ADR (non-vtg.) 381,200 5,462,596 
FINANCIALS - 0.1%   
Banks - 0.1%   
Itau Unibanco Holding SA 921,500 8,643,011 
HEALTH CARE - 0.1%   
Biotechnology - 0.0%   
Yumanity Holdings LLC:   
Class A (a)(c)(d) 130,754 861,669 
Class B (c)(d) 85,345 562,424 
  1,424,093 
Pharmaceuticals - 0.1%   
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (c)(d) 13,511 5,683,943 
TOTAL HEALTH CARE  7,108,036 
TOTAL NONCONVERTIBLE PREFERRED STOCKS  21,402,552 
TOTAL PREFERRED STOCKS   
(Cost $164,062,336)  220,238,428 
 Principal Amount Value 
Preferred Securities - 0.0%   
HEALTH CARE - 0.0%   
Biotechnology - 0.0%   
Intarcia Therapeutics, Inc. 6% 7/18/21(c)(d)   
(Cost $614,446) 614,446 614,749 
 Shares Value 
Money Market Funds - 3.7%   
Fidelity Cash Central Fund, 2.44% (g) 40,588,306 40,596,424 
Fidelity Securities Lending Cash Central Fund 2.45% (g)(h) 399,091,445 399,131,354 
TOTAL MONEY MARKET FUNDS   
(Cost $439,727,778)  439,727,778 
TOTAL INVESTMENT IN SECURITIES - 103.3%   
(Cost $6,696,931,325)  12,304,837,463 
NET OTHER ASSETS (LIABILITIES) - (3.3)%  (393,556,696) 
NET ASSETS - 100%  $11,911,280,767 

Legend

 (a) Non-income producing

 (b) Security or a portion of the security is on loan at period end.

 (c) Restricted securities - 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 $296,078,150 or 2.5% of net assets.

 (d) Level 3 security

 (e) 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 $90,461,780 or 0.8% of net assets.

 (f) Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes.

 (g) 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.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost 
10X Genomics, Inc. Series C 2/23/16 - 4/3/17 $3,204,004 
10X Genomics, Inc. Series D 4/10/18 $960,732 
23andMe, Inc. Series F 8/31/17 $2,287,005 
Adimab LLC 9/17/14 - 6/5/15 $11,583,995 
Agbiome LLC Series C 6/29/18 $2,144,369 
Allbirds, Inc. 10/9/18 $890,972 
Allbirds, Inc. 10/9/18 $188,909 
Allbirds, Inc. Series A 10/9/18 $351,662 
Allbirds, Inc. Series B 10/9/18 $61,800 
Allbirds, Inc. Series C 10/9/18 $590,417 
Altiostar Networks, Inc. Series A1 1/10/17 $933,105 
Ant International Co. Ltd. Class C 5/16/18 $2,351,948 
AppNexus, Inc. Series E (Escrow) 8/1/14 $378,005 
Axcella Health, Inc. Series C 8/11/17 $1,124,736 
Axcella Health, Inc. Series E 11/30/18 $1,348,610 
BioNTech AG Series A 12/29/17 $5,518,798 
Bird Rides, Inc. Series C 12/21/18 $1,374,482 
Castle Creek Pharmaceutical Holdings, Inc. Series A4 9/29/16 $4,471,547 
Castle Creek Pharmaceutical Holdings, Inc. Series B 10/9/18 $2,022,184 
Cibus Corp. Series C 2/16/18 $2,400,000 
Cloudflare, Inc. Series D, 8.00% 11/5/14 - 9/10/18 $4,486,263 
Clover Health Series D 6/7/17 $2,476,086 
Codiak Biosciences, Inc. Series A 8.00% 11/12/15 $163,914 
Codiak Biosciences, Inc. Series B 8.00% 11/12/15 $1,598,160 
Codiak Biosciences, Inc. Series C, 8.00% 11/17/17 $2,455,331 
Dataminr, Inc. Series D 2/18/15 - 3/6/15 $5,638,573 
Fulcrum Therapeutics, Inc. Series B 8/24/18 $1,228,390 
Generation Bio Series B 2/21/18 $2,050,859 
Harmony Biosciences II, Inc. Series A 9/22/17 $2,550,636 
Immunocore Ltd. Series A 7/27/15 $3,482,067 
Intarcia Therapeutics, Inc. Series EE 9/2/16 $6,992,640 
Intarcia Therapeutics, Inc. 6% 7/18/21 2/26/19 $614,446 
Jet.Com, Inc. Series B1 (Escrow) 3/19/18 $0 
JUUL Labs, Inc. Class A 7/6/18 $392,042 
JUUL Labs, Inc. Series E 7/6/18 $196,006 
Lyft, Inc. Series I 6/27/18 $10,722,012 
MOD Super Fast Pizza Holdings LLC Series 3 Preferred 11/3/16 - 12/14/17 $2,433,492 
Mulberry Health, Inc. Series A8 1/20/16 $5,293,448 
Neutron Holdings, Inc. Series D 1/25/19 $1,377,091 
Nohla Therapeutics, Inc. Series B 5/1/18 $1,426,000 
ORIC Pharmaceuticals, Inc. Series C 2/6/18 $950,001 
Outset Medical, Inc. Series C 4/19/17 $992,187 
Outset Medical, Inc. Series D 8/20/18 $1,161,834 
Peloton Interactive, Inc. Series E 3/31/17 $4,202,996 
Reddit, Inc. Series B 7/26/17 $538,544 
RPI International Holdings LP 5/21/15 - 3/23/16 $4,390,645 
Shockwave Medical, Inc. Series C 9/27/17 $1,025,439 
Space Exploration Technologies Corp. Class A 10/16/15 - 4/6/17 $12,876,729 
Space Exploration Technologies Corp. Series G 1/20/15 $4,177,960 
Starry, Inc. Series B 12/1/16 $1,601,981 
Starry, Inc. Series C 12/8/17 $1,234,575 
Sweetgreen, Inc. Series H 11/9/18 $2,195,114 
Taboola.Com Ltd. Series E 12/22/14 $3,455,249 
The Honest Co., Inc. 8/21/14 $256,936 
The Honest Co., Inc. Series C 8/21/14 $599,509 
The Honest Co., Inc. Series D 8/3/15 $872,273 
Topgolf International, Inc. Series F 11/10/17 $3,237,994 
Tory Burch LLC 5/14/15 $17,704,966 
Turn, Inc. (Escrow) 4/11/17 $123,537 
Uber Technologies, Inc. Series D, 8.00% 6/6/14 $17,000,007 
Uber Technologies, Inc. Series E, 8.00% 12/5/14 $1,727,583 
Wheels Up Partners Holdings LLC Series B 9/18/15  $5,235,000  
Wheels Up Partners Holdings LLC Series C  6/22/17 $2,092,241  
YourPeople, Inc. Series C 5/1/15 $22,753,949 
Yumanity Holdings LLC Class A 2/8/16 $883,727 
Yumanity Holdings LLC Class B 6/19/18 $714,338 

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 $254,209 
Fidelity Securities Lending Cash Central Fund 1,121,982 
Total $1,376,191 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

The following is a summary of the inputs used, as of February 28, 2019, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs, and their aggregation into the levels used below, is provided later in this section.

 Valuation Inputs at Reporting Date: 
Description Total Level 1 Level 2 Level 3 
Investments in Securities:     
Equities:     
Communication Services $1,540,017,029 $1,521,394,293 $18,226,177 $396,559 
Consumer Discretionary 2,385,980,670 2,348,026,738 -- 37,953,932 
Consumer Staples 543,764,936 524,591,189 9,770,034 9,403,713 
Energy 181,068,505 181,068,505 -- -- 
Financials 268,109,318 265,633,232 -- 2,476,086 
Health Care 2,301,266,666 2,170,741,349 35,137,286 95,388,031 
Industrials 632,687,815 586,761,581 -- 45,926,234 
Information Technology 3,927,548,462 3,826,513,799 -- 101,034,663 
Materials 44,495,339 44,495,339 -- -- 
Real Estate 35,347,242 32,693,440 -- 2,653,802 
Utilities 4,208,954 4,208,954 -- -- 
Preferred Securities 614,749 -- -- 614,749 
Money Market Funds 439,727,778 439,727,778 -- -- 
Total Investments in Securities: $12,304,837,463 $11,945,856,197 $63,133,497 $295,847,769 

The following is a reconciliation of Investments in Securities for which Level 3 inputs were used in determining value:

Investments in Securities:  
Equities - Health Care  
Beginning Balance $ 130,958,638  
Net Realized Gain (Loss) on Investment Securities  22,000  
Net Unrealized Gain (Loss) on Investment Securities (8,560,416) 
Cost of Purchases  39,250  
Proceeds of Sales (25,927,191) 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 (1,144,250) 
Ending Balance $ 95,388,031  
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2019 $(1,744,574) 
Other Investments in Securities  
Beginning Balance $ 187,627,672  
Net Realized Gain (Loss) on Investment Securities 15,000 
Net Unrealized Gain (Loss) on Investment Securities 12,388,865  
Cost of Purchases 3,415,294  
Proceeds of Sales (2,987,093) 
Amortization/Accretion -- 
Transfers into Level 3 -- 
Transfers out of Level 3 -- 
Ending Balance $200,459,738 
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at February 28, 2019 $12,388,865 

The information used in the above reconciliations represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges.

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. Equity securities, including restricted securities, for which observable inputs are not available, are valued using alternate valuation approaches, including the market approach and the income approach and are categorized as Level 3 in the hierarchy. The market approach generally consists of using comparable market transactions while the income approach generally consists of using the net present value of estimated future cash flows, adjusted as appropriate for liquidity, credit, market and/or other risk factors.

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. Preferred securities 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.

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.

The following provides information on Level 3 securities held by the fund that were valued at period end based on unobservable inputs. These amounts exclude valuations provided by a broker.

Asset Type Fair Value Valuation Technique (s) Unobservable Input Amount or Range / Weighted Average Impact to Valuation from an Increase in Input(a) 
Corporate Bonds $614,446  Market approach  Transaction price  $100.00 Increase 
Equities  $295,233,020 Recovery value  Recovery value  0.0% - 1.0% / 0.7%  Increase 
  Market comparable  Enterprise value/Sales multiple (EV/S)  0.8 - 11.7 / 4.5  Increase 
   Transaction price  $1.00 - $411.85 / $172.29  Increase  
   Liquidity preference  $14.90 - $45.76 / $20.62  Increase  
   Discount rate  2.8% - 76.0% / 43.6%  Decrease 
   Discount for lack of marketability  10.0% - 15.0% / 13.4%  Decrease 
   Proxy discount  0.6% - 26.8% / 8.7%  Decrease 
   Premium rate  6.0%  Increase 
   Conversion ratio  3.0  Increase 
   Proxy premium  2.0%  Increase 
  Market approach  Transaction price  $0.24 - $269.25 / $77.28  Increase 
   Conversion ratio  1.6  Increase 
  Discount cash flow  Discount rate  8.0% - 25.0% / 11.0%  Decrease  
   Discount for lack of marketability  10.0%  Decrease  
   Growth rate  3.0% - 3.5% / 3.5%  Increase  
   Probablity rate  6.3%  Increase  

 (a) Represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.


Quarterly Holdings Report
for

Fidelity® Growth Strategies K6 Fund

February 28, 2019







FEGK6-QTLY-0419
1.9883993.101





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 97.5%   
 Shares Value 
COMMUNICATION SERVICES - 3.7%   
Entertainment - 3.2%   
Electronic Arts, Inc. (a) 7,300 $699,194 
Live Nation Entertainment, Inc. (a) 27,200 1,538,432 
Take-Two Interactive Software, Inc. (a) 21,300 1,858,638 
  4,096,264 
Interactive Media & Services - 0.5%   
TripAdvisor, Inc. (a) 12,300 653,991 
TOTAL COMMUNICATION SERVICES  4,750,255 
CONSUMER DISCRETIONARY - 12.2%   
Distributors - 0.9%   
Pool Corp. 7,000 1,116,780 
Diversified Consumer Services - 1.4%   
Service Corp. International 42,300 1,748,682 
Hotels, Restaurants & Leisure - 1.2%   
Domino's Pizza, Inc. 5,100 1,279,794 
Planet Fitness, Inc. (a) 5,500 323,290 
  1,603,084 
Internet & Direct Marketing Retail - 0.8%   
GrubHub, Inc. (a)(b) 13,300 1,085,014 
Multiline Retail - 1.9%   
Dollar General Corp. 20,400 2,416,584 
Specialty Retail - 3.7%   
Best Buy Co., Inc. 4,800 330,432 
Burlington Stores, Inc. (a) 5,100 865,674 
Ross Stores, Inc. 24,900 2,361,267 
Ulta Beauty, Inc. (a) 3,600 1,124,964 
  4,682,337 
Textiles, Apparel & Luxury Goods - 2.3%   
Carter's, Inc. 10,900 1,062,096 
Deckers Outdoor Corp. (a) 400 59,180 
VF Corp. 21,000 1,834,560 
  2,955,836 
TOTAL CONSUMER DISCRETIONARY  15,608,317 
CONSUMER STAPLES - 4.2%   
Beverages - 1.1%   
Brown-Forman Corp. Class B (non-vtg.) 21,500 1,064,035 
Monster Beverage Corp. (a) 4,600 293,618 
  1,357,653 
Food Products - 1.2%   
Lamb Weston Holdings, Inc. 1,800 124,758 
The Hershey Co. 13,400 1,483,112 
  1,607,870 
Household Products - 1.1%   
Clorox Co. 8,700 1,374,861 
Personal Products - 0.8%   
Estee Lauder Companies, Inc. Class A 1,800 282,492 
Herbalife Nutrition Ltd. (a) 13,900 779,790 
  1,062,282 
TOTAL CONSUMER STAPLES  5,402,666 
ENERGY - 0.4%   
Oil, Gas & Consumable Fuels - 0.4%   
Marathon Petroleum Corp. 8,400 520,884 
FINANCIALS - 6.8%   
Banks - 1.8%   
Citizens Financial Group, Inc. 51,300 1,895,022 
Huntington Bancshares, Inc. 29,700 427,977 
  2,322,999 
Capital Markets - 4.6%   
MarketAxess Holdings, Inc. 4,500 1,097,460 
Moody's Corp. 13,100 2,267,872 
MSCI, Inc. 10,200 1,884,144 
S&P Global, Inc. 3,200 641,184 
  5,890,660 
Insurance - 0.4%   
Progressive Corp. 6,800 495,720 
TOTAL FINANCIALS  8,709,379 
HEALTH CARE - 14.9%   
Health Care Equipment & Supplies - 5.8%   
DexCom, Inc. (a) 3,400 473,722 
Edwards Lifesciences Corp. (a) 17,000 2,877,930 
Intuitive Surgical, Inc. (a) 1,250 684,513 
Masimo Corp. (a) 2,400 315,072 
ResMed, Inc. 26,026 2,665,843 
Teleflex, Inc. 1,200 347,808 
  7,364,888 
Health Care Providers & Services - 3.9%   
Centene Corp. (a) 30,000 1,826,700 
Covetrus, Inc. (a) 1,700 60,826 
Wellcare Health Plans, Inc. (a) 12,200 3,093,676 
  4,981,202 
Life Sciences Tools & Services - 4.9%   
Charles River Laboratories International, Inc. (a) 16,700 2,374,239 
Mettler-Toledo International, Inc. (a) 3,000 2,042,730 
Waters Corp. (a) 7,400 1,792,428 
  6,209,397 
Pharmaceuticals - 0.3%   
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 27,000 454,410 
TOTAL HEALTH CARE  19,009,897 
INDUSTRIALS - 16.1%   
Aerospace & Defense - 3.5%   
Huntington Ingalls Industries, Inc. 11,600 2,429,156 
TransDigm Group, Inc. (a) 4,500 1,953,405 
  4,382,561 
Airlines - 0.4%   
Alaska Air Group, Inc. 8,800 542,960 
Commercial Services & Supplies - 3.5%   
Cintas Corp. 9,500 1,962,700 
Copart, Inc. (a) 25,300 1,484,351 
KAR Auction Services, Inc. 19,800 933,570 
  4,380,621 
Electrical Equipment - 2.5%   
AMETEK, Inc. 16,600 1,321,028 
Fortive Corp. 22,600 1,843,482 
  3,164,510 
Industrial Conglomerates - 3.1%   
ITT, Inc. 15,100 872,176 
Roper Technologies, Inc. 9,600 3,107,040 
  3,979,216 
Machinery - 2.1%   
IDEX Corp. 11,000 1,585,100 
Toro Co. 16,500 1,131,570 
  2,716,670 
Professional Services - 1.0%   
CoStar Group, Inc. (a) 1,000 457,530 
Equifax, Inc. 7,800 854,178 
  1,311,708 
TOTAL INDUSTRIALS  20,478,246 
INFORMATION TECHNOLOGY - 36.1%   
Communications Equipment - 2.1%   
Arista Networks, Inc. (a) 1,800 513,450 
F5 Networks, Inc. (a) 12,600 2,118,564 
  2,632,014 
Electronic Equipment & Components - 2.0%   
Amphenol Corp. Class A 22,500 2,114,325 
CDW Corp. 3,000 281,670 
Keysight Technologies, Inc. (a) 2,350 198,364 
  2,594,359 
IT Services - 13.1%   
Adyen BV (c) 100 75,072 
Akamai Technologies, Inc. (a) 14,700 1,024,002 
Alliance Data Systems Corp. 6,200 1,072,600 
Broadridge Financial Solutions, Inc. 1,900 192,375 
Fiserv, Inc. (a) 36,500 3,091,185 
Global Payments, Inc. 12,800 1,668,864 
Total System Services, Inc. 45,000 4,248,000 
VeriSign, Inc. (a) 24,400 4,344,175 
Worldpay, Inc. (a) 10,300 986,740 
  16,703,013 
Semiconductors & Semiconductor Equipment - 9.8%   
Analog Devices, Inc. 17,100 1,829,016 
Broadcom, Inc. 1,000 275,360 
KLA-Tencor Corp. 14,900 1,720,801 
Lam Research Corp. 12,700 2,236,343 
NXP Semiconductors NV 9,900 904,068 
ON Semiconductor Corp. (a) 136,200 2,925,576 
Skyworks Solutions, Inc. 17,400 1,420,884 
Xilinx, Inc. 9,800 1,227,940 
  12,539,988 
Software - 9.1%   
Adobe, Inc. (a) 2,400 630,000 
Black Knight, Inc. (a) 12,878 672,876 
Cadence Design Systems, Inc. (a) 5,000 286,250 
CDK Global, Inc. 8,600 498,886 
Check Point Software Technologies Ltd. (a) 8,700 1,064,010 
Citrix Systems, Inc. 28,600 3,017,300 
Fortinet, Inc. (a) 4,800 416,592 
Intuit, Inc. 1,800 444,834 
LogMeIn, Inc. 1,200 95,328 
Parametric Technology Corp. (a) 16,700 1,550,094 
ServiceNow, Inc. (a) 1,000 239,440 
Workday, Inc. Class A (a) 13,500 2,672,055 
  11,587,665 
TOTAL INFORMATION TECHNOLOGY  46,057,039 
MATERIALS - 0.8%   
Chemicals - 0.8%   
Sherwin-Williams Co. 900 389,880 
Westlake Chemical Corp. 8,328 581,877 
  971,757 
REAL ESTATE - 1.7%   
Equity Real Estate Investment Trusts (REITs) - 1.7%   
Equity Lifestyle Properties, Inc. 13,100 1,423,184 
SBA Communications Corp. Class A (a) 4,000 722,240 
  2,145,424 
UTILITIES - 0.6%   
Independent Power and Renewable Electricity Producers - 0.6%   
NRG Energy, Inc. 16,800 700,224 
TOTAL COMMON STOCKS   
(Cost $105,974,564)  124,354,088 
Money Market Funds - 2.2%   
Fidelity Cash Central Fund, 2.44% (d) 2,573,994 2,574,509 
Fidelity Securities Lending Cash Central Fund 2.45% (d)(e) 190,881 190,900 
TOTAL MONEY MARKET FUNDS   
(Cost $2,765,409)  2,765,409 
TOTAL INVESTMENT IN SECURITIES - 99.7%   
(Cost $108,739,973)  127,119,497 
NET OTHER ASSETS (LIABILITIES) - 0.3%  440,357 
NET ASSETS - 100%  $127,559,854 

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 $75,072 or 0.1% 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 $16,802 
Fidelity Securities Lending Cash Central Fund 368 
Total $17,170 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.


Quarterly Holdings Report
for

Fidelity Flex℠ Funds

Fidelity Flex℠ Mid Cap Growth Fund

February 28, 2019







ZDG-QTLY-0419
1.9881577.101





Schedule of Investments February 28, 2019 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 93.4%   
 Shares Value 
COMMUNICATION SERVICES - 3.8%   
Entertainment - 3.2%   
Electronic Arts, Inc. (a) 700 $67,046 
Live Nation Entertainment, Inc. (a) 2,600 147,056 
Take-Two Interactive Software, Inc. (a) 2,150 187,609 
  401,711 
Interactive Media & Services - 0.6%   
TripAdvisor, Inc. (a) 1,399 74,385 
TOTAL COMMUNICATION SERVICES  476,096 
CONSUMER DISCRETIONARY - 11.7%   
Distributors - 0.9%   
Pool Corp. 700 111,678 
Diversified Consumer Services - 1.4%   
Service Corp. International 4,300 177,762 
Hotels, Restaurants & Leisure - 1.2%   
Domino's Pizza, Inc. 500 125,470 
Planet Fitness, Inc. (a) 400 23,512 
  148,982 
Internet & Direct Marketing Retail - 0.8%   
GrubHub, Inc. (a) 1,300 106,054 
Multiline Retail - 1.9%   
Dollar General Corp. 1,990 235,735 
Specialty Retail - 3.3%   
Best Buy Co., Inc. 450 30,978 
Burlington Stores, Inc. (a) 350 59,409 
Ross Stores, Inc. 2,400 227,592 
Ulta Beauty, Inc. (a) 340 106,247 
  424,226 
Textiles, Apparel & Luxury Goods - 2.2%   
Carter's, Inc. 1,000 97,440 
Deckers Outdoor Corp. (a) 40 5,918 
VF Corp. 2,000 174,720 
  278,078 
TOTAL CONSUMER DISCRETIONARY  1,482,515 
CONSUMER STAPLES - 3.8%   
Beverages - 0.9%   
Brown-Forman Corp. Class B (non-vtg.) 2,000 98,980 
Monster Beverage Corp. (a) 200 12,766 
  111,746 
Food Products - 1.1%   
The Hershey Co. 1,300 143,884 
Household Products - 1.0%   
Clorox Co. 800 126,424 
Personal Products - 0.8%   
Estee Lauder Companies, Inc. Class A 180 28,249 
Herbalife Nutrition Ltd. (a) 1,300 72,930 
  101,179 
TOTAL CONSUMER STAPLES  483,233 
ENERGY - 0.3%   
Oil, Gas & Consumable Fuels - 0.3%   
Marathon Petroleum Corp. 700 43,407 
FINANCIALS - 6.6%   
Banks - 1.8%   
Citizens Financial Group, Inc. 5,100 188,394 
Huntington Bancshares, Inc. 3,140 45,247 
  233,641 
Capital Markets - 4.4%   
MarketAxess Holdings, Inc. 440 107,307 
Moody's Corp. 1,270 219,862 
MSCI, Inc. 950 175,484 
S&P Global, Inc. 300 60,111 
  562,764 
Insurance - 0.4%   
Progressive Corp. 650 47,385 
TOTAL FINANCIALS  843,790 
HEALTH CARE - 14.4%   
Health Care Equipment & Supplies - 5.5%   
DexCom, Inc. (a) 350 48,766 
Edwards Lifesciences Corp. (a) 1,600 270,864 
Intuitive Surgical, Inc. (a) 130 71,189 
Masimo Corp. (a) 220 28,882 
ResMed, Inc. 2,400 245,832 
Teleflex, Inc. 120 34,781 
  700,314 
Health Care Providers & Services - 3.8%   
Centene Corp. (a) 2,900 176,581 
Wellcare Health Plans, Inc. (a) 1,220 309,368 
  485,949 
Life Sciences Tools & Services - 4.8%   
Charles River Laboratories International, Inc. (a) 1,620 230,315 
Mettler-Toledo International, Inc. (a) 300 204,273 
Waters Corp. (a) 700 169,554 
  604,142 
Pharmaceuticals - 0.3%   
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) 2,650 44,600 
TOTAL HEALTH CARE  1,835,005 
INDUSTRIALS - 15.5%   
Aerospace & Defense - 3.5%   
Huntington Ingalls Industries, Inc. 1,170 245,010 
TransDigm Group, Inc. (a) 450 195,341 
  440,351 
Airlines - 0.4%   
Alaska Air Group, Inc. 870 53,679 
Commercial Services & Supplies - 3.2%   
Cintas Corp. 900 185,940 
Copart, Inc. (a) 2,550 149,609 
KAR Auction Services, Inc. 1,400 66,010 
  401,559 
Electrical Equipment - 2.4%   
AMETEK, Inc. 1,670 132,899 
Fortive Corp. 2,200 179,454 
  312,353 
Industrial Conglomerates - 3.1%   
ITT, Inc. 1,400 80,864 
Roper Technologies, Inc. 960 310,704 
  391,568 
Machinery - 2.1%   
IDEX Corp. 1,100 158,510 
Toro Co. 1,560 106,985 
  265,495 
Professional Services - 0.8%   
CoStar Group, Inc. (a) 50 22,877 
Equifax, Inc. 700 76,657 
  99,534 
TOTAL INDUSTRIALS  1,964,539 
INFORMATION TECHNOLOGY - 34.7%   
Communications Equipment - 1.9%   
Arista Networks, Inc. (a) 150 42,788 
F5 Networks, Inc. (a) 1,200 201,768 
  244,556 
Electronic Equipment & Components - 2.0%   
Amphenol Corp. Class A 2,230 209,553 
CDW Corp. 230 21,595 
Keysight Technologies, Inc. (a) 220 18,570 
  249,718 
IT Services - 12.6%   
Adyen BV (b) 2,252 
Akamai Technologies, Inc. (a) 1,400 97,524 
Alliance Data Systems Corp. 550 95,150 
Broadridge Financial Solutions, Inc. 200 20,250 
Fiserv, Inc. (a) 3,500 296,415 
Global Payments, Inc. 1,200 156,456 
Total System Services, Inc. 4,500 424,800 
VeriSign, Inc. (a) 2,400 427,291 
Worldpay, Inc. (a) 900 86,220 
  1,606,358 
Semiconductors & Semiconductor Equipment - 9.4%   
Analog Devices, Inc. 1,700 181,832 
Broadcom, Inc. 100 27,536 
KLA-Tencor Corp. 1,400 161,686 
Lam Research Corp. 1,200 211,308 
NXP Semiconductors NV 900 82,188 
ON Semiconductor Corp. (a) 13,200 283,536 
Skyworks Solutions, Inc. 1,650 134,739 
Xilinx, Inc. 930 116,529 
  1,199,354 
Software - 8.8%   
Adobe, Inc. (a) 200 52,500 
Black Knight, Inc. (a) 1,300 67,925 
Cadence Design Systems, Inc. (a) 500 28,625 
CDK Global, Inc. 800 46,408 
Check Point Software Technologies Ltd. (a) 750 91,725 
Citrix Systems, Inc. 2,800 295,400 
Fortinet, Inc. (a) 500 43,395 
Intuit, Inc. 190 46,955 
LogMeIn, Inc. 70 5,561 
Parametric Technology Corp. (a) 1,600 148,512 
ServiceNow, Inc. (a) 100 23,944 
Workday, Inc. Class A (a) 1,320 261,268 
  1,112,218 
TOTAL INFORMATION TECHNOLOGY  4,412,204 
MATERIALS - 0.8%   
Chemicals - 0.8%   
Sherwin-Williams Co. 90 38,988 
Westlake Chemical Corp. 850 59,390 
  98,378 
REAL ESTATE - 1.3%   
Equity Real Estate Investment Trusts (REITs) - 1.3%   
Equity Lifestyle Properties, Inc. 900 97,776 
SBA Communications Corp. Class A (a) 400 72,224 
  170,000 
UTILITIES - 0.5%   
Independent Power and Renewable Electricity Producers - 0.5%   
NRG Energy, Inc. 1,600 66,688 
TOTAL COMMON STOCKS   
(Cost $10,940,092)  11,875,855 
Money Market Funds - 5.7%   
Fidelity Cash Central Fund, 2.44% (c)   
(Cost $724,141) 724,006 724,151 
TOTAL INVESTMENT IN SECURITIES - 99.1%   
(Cost $11,664,233)  12,600,006 
NET OTHER ASSETS (LIABILITIES) - 0.9%  114,684 
NET ASSETS - 100%  $12,714,690 

Legend

 (a) Non-income producing

 (b) 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 $2,252 or 0.0% of net assets.

 (c) 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.

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 $2,537 
Total $2,537 

Amounts in the income column in the above table include any capital gain distributions from underlying funds.

Investment Valuation

All investments are categorized as Level 1 under the Fair Value Hierarchy. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. Additional information on valuation inputs is provided later in this section.

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.

Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.




Item 2.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Mt. Vernon Street Trusts (the Trust) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(a)(ii)  There was no change in the Trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Trusts last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Trusts internal control over financial reporting.


Item 3.

Exhibits


Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.




SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Fidelity Mt. Vernon Street Trust



By:

/s/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

April 26, 2019


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:

/s/Stacie M. Smith


Stacie M. Smith


President and Treasurer



Date:

April 26, 2019



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer



Date:

April 26, 2019