0000754510 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254555Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254554Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254556Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254557Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:StockMarketVolatilityMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:ForeignExposureMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IssuerSpecificChangesMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:GrowthInvestingMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:MidCapInvestingMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member oef:RiskNondiversifiedStatusMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member oef:RiskLoseMoneyMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2015-01-01 2015-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2016-01-01 2016-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2017-01-01 2017-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2018-01-01 2018-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2019-01-01 2019-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2020-01-01 2020-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2021-01-01 2021-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2022-01-01 2022-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2023-01-01 2023-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2024-01-01 2024-12-31 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member 2015-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsMember 2024-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsMember 2020-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsMember 2015-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsAndSalesMember 2024-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsAndSalesMember 2020-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:C000254558Member oef:AfterTaxesOnDistributionsAndSalesMember 2015-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS004Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS004Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS004Member 2015-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS001Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS001Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityBlueChipGrowthFund-AMCIZPROMember fmr:S000007195Member fmr:IndexRS001Member 2015-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254552Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254550Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254553Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254549Member 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:StockMarketVolatilityMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:ForeignExposureMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:TechnologyIndustryConcentrationMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IssuerSpecificChangesMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:GrowthInvestingMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:ValueInvestingMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member oef:RiskNondiversifiedStatusMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member oef:RiskNotInsuredDepositoryInstitutionMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member oef:RiskLoseMoneyMember 2025-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2015-01-01 2015-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2016-01-01 2016-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2017-01-01 2017-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2018-01-01 2018-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2019-01-01 2019-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2020-01-01 2020-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2021-01-01 2021-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2022-01-01 2022-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2023-01-01 2023-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2024-01-01 2024-12-31 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member 2015-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsMember 2024-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsMember 2020-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsMember 2015-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsAndSalesMember 2024-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsAndSalesMember 2020-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:C000254551Member oef:AfterTaxesOnDistributionsAndSalesMember 2015-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexNS004Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexNS004Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexNS004Member 2015-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexSP001Member 2024-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexSP001Member 2020-10-29 2025-10-29 0000754510 fmr:FidelityOTCPortfolio-AMCIZPROMember fmr:S000007191Member fmr:IndexSP001Member 2015-10-29 2025-10-29 iso4217:USD pure shares 497 2025-10-29 false 0000754510 N-1A Fidelity Securities Fund Fund Summary Fund/Class: Fidelity® Blue Chip Growth Fund/Fidelity Advisor® Blue Chip Growth Fund A, M, C, I, Z  Investment Objective Fidelity® Blue Chip Growth Fund seeks growth of capital over the long term. Fee Table The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity® funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page 32 of the prospectus and in the sales charge waiver appendix to the prospectus. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity® funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page 32 of the prospectus 50000 Shareholder fees 0.0575 0.0350 0 0 0 0 0 0.0100 0 0 Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively. On Class C shares redeemed less than one year after purchase. Annual Operating Expenses 0.0072 0.0071 0.0072 0.0072 0.0061 0.0025 0.0050 0.0100 0 0 0.0000 0.0000 0.0000 0.0000 0.0000 0.0097 0.0121 0.0172 0.0072 0.0061 This example helps compare the cost of investing in the fund with the cost of investing in other funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares: 668 668 469 469 275 175 74 74 62 62 866 866 721 721 542 542 230 230 195 195 1080 1080 992 992 933 933 401 401 340 340 1696 1696 1765 1765 1831 1831 894 894 762 762 Portfolio Turnover The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 34% of the average value of its portfolio. 0.34 Principal Investment Strategies Normally investing primarily in common stocks.Normally investing at least 80% of assets in blue chip companies (companies that, in Fidelity Management & Research Company LLC (FMR)'s view, are well-known, well-established and well-capitalized), which generally have large or medium market capitalizations.Investing in companies that FMR believes have above-average growth potential (stocks of these companies are often called "growth" stocks).Investing in domestic and foreign issuers.Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.Effective December 11, 2025, normally investing at least 80% of assets in blue chip growth companies. Blue chip companies are companies that, in the Adviser's view, are well-known, well-established and well-capitalized, which, for purposes of this fund, are companies with a higher market capitalization than the lowest capitalized company in any of the S&P 500 Index, Russell 1000 Index, or Dow Jones Industrial Average. Growth companies are companies the Adviser believes have above average growth potential. The Adviser considers a number of factors in determining a company's growth potential, such as whether the company is included in a third-party growth benchmark or classified as a growth company by a third-party vendor, if the company's projected earnings per share growth, sales growth per share or free cash flow growth or its trailing earnings per share growth is above the equity market median, if the company's research and development expenses exceed sales, general and administrative expenses, or if the company is raising capital to grow, fund or expand its business. A company's growth potential can be determined under any of these factors. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments. Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. "Growth" Investing. "Growth" stocks can perform differently from the market as a whole and other types of stocks and can be more volatile than other types of stocks.      Mid Cap Investing. The value of securities of medium size, less well-known issuers can perform differently from the market as a whole and other types of stocks and can be more volatile than that of larger issuers. In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund. An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.  You could lose money by investing in the fund. Performance The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Fidelity® Blue Chip Growth Fund, a class of shares of the fund, from year to year and compares the performance of this class to the performance of a securities market index and an additional index over various periods of time. The additional index has characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. Visit www.fidelity.com for more recent performance information for Fidelity® Blue Chip Growth Fund, a class of shares of the fund. Performance history will be available at institutional.fidelity.com for Class A, Class M, Class C, Class I, and Class Z after Class A, Class M, Class C, Class I, and Class Z have been in operation for one calendar year. The information illustrates the changes in the performance of Fidelity® Blue Chip Growth Fund, a class of shares of the fund, from year to year and compares the performance of this class to the performance of a securities market index and an additional index over various periods of time. Past performance (before and after taxes) is not an indication of future performance. www.fidelity.com Performance history will be available at institutional.fidelity.com for Class A, Class M, Class C, Class I, and Class Z after Class A, Class M, Class C, Class I, and Class Z have been in operation for one calendar year. Year-by-Year Returns 0.0628 0.0159 0.3606 0.0107 0.3344 0.6223 0.2271 -0.3846 0.5560 0.3970    Highest Quarter Return 0.3782 2020-06-30    Lowest Quarter Return -0.2730 2022-06-30    Year-to-Date Return 0.0418 2025-06-30 * The returns shown above are for Fidelity® Blue Chip Growth Fund, a class of shares of the fund that is not offered through this prospectus. Class A, Class M, Class C, Class I, and Class Z would have substantially similar annual returns to Fidelity® Blue Chip Growth Fund because the classes are invested in the same portfolio of securities. Class A's, Class M's, Class C's, Class I's, and Class Z's returns would differ from Fidelity® Blue Chip Growth Fund's returns only to the extent that the classes do not have the same expenses. Average Annual Returns After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. Return Before Taxes 0.3970 0.2164 0.1810 Return After Taxes on Distributions 0.3764 0.2030 0.1681 Return After Taxes on Distributions and Sale of Fund Shares 0.2472 0.1742 0.1498 Russell 1000® Growth Index 0.3336 0.1896 0.1678 Russell 1000® Index 0.2451 0.1428 0.1287 * The returns shown above are for Fidelity® Blue Chip Growth Fund, a class of shares of the fund that is not offered through this prospectus. Class A, Class M, Class C, Class I, and Class Z would have substantially similar annual returns to Fidelity® Blue Chip Growth Fund because the classes are invested in the same portfolio of securities. Class A's, Class M's, Class C's, Class I's, and Class Z's returns would differ from Fidelity® Blue Chip Growth Fund's returns only to the extent that the classes do not have the same expenses. Fund Summary Fund/Class: Fidelity® OTC Portfolio/Fidelity Advisor® OTC Fund A, M, C, I, Z  Investment Objective Fidelity® OTC Portfolio seeks capital appreciation. Fee Table The following table describes the fees and expenses that may be incurred when you buy, hold, and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity® funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page 32 of the prospectus and in the sales charge waiver appendix to the prospectus. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the fund or certain other Fidelity® funds. More information about these and other discounts is available from your investment professional and in the "Fund Distribution" section beginning on page 32 of the prospectus 50000 Shareholder fees 0.0575 0.0350 0 0 0 0 0 0.0100 0 0 Class A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively. On Class C shares redeemed less than one year after purchase. Annual Operating Expenses 0.0080 0.0079 0.0079 0.0079 0.0068 0.0025 0.0050 0.0100 0 0 0.0000 0.0001 0.0000 0.0000 0.0001 0.0105 0.0130 0.0179 0.0079 0.0069 This example helps compare the cost of investing in the fund with the cost of investing in other funds. Let's say, hypothetically, that the annual return for shares of the fund is 5% and that the fees and the annual operating expenses for shares of the fund are exactly as described in the fee table. This example illustrates the effect of fees and expenses, but is not meant to suggest actual or expected fees and expenses or returns, all of which may vary. For every $10,000 you invested, here's how much you would pay in total expenses if you sell all of your shares at the end of each time period indicated and if you hold your shares: 676 676 478 478 282 182 81 81 70 70 890 890 748 748 563 563 252 252 221 221 1121 1121 1038 1038 970 970 439 439 384 384 1784 1784 1863 1863 1911 1911 978 978 859 859 Portfolio Turnover The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual operating expenses or in the example, affect the fund's performance. During the most recent fiscal year, the fund's portfolio turnover rate was 53% of the average value of its portfolio. 0.53 Principal Investment Strategies Normally investing primarily in common stocks.Normally investing at least 80% of assets in securities principally traded on NASDAQ® or an over-the-counter (OTC) market. The Adviser defines NASDAQ® and OTC securities as securities principally traded on either the NASDAQ® exchange or the OTC market (a telephone or computer network that connects securities dealers), which may include equity or debt securities. These securities can be issued by companies of any size. However, the OTC market has more small and medium-sized companies than other markets. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives.   Investing more than 25% of total assets in the technology sector.Investing in domestic and foreign issuers.Investing in either "growth" stocks or "value" stocks or both.Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments. Stock Market Volatility. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, or economic developments. Different parts of the market, including different market sectors, and different types of securities can react differently to these developments. Foreign Exposure. Foreign markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, or economic developments and can perform differently from the U.S. market. Technology Industry Concentration. The technology industries can be significantly affected by obsolescence of existing technology, short product cycles, falling prices and profits, competition from new market entrants, and general economic conditions. Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than, and can perform differently from, the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers. "Growth" Investing. "Growth" stocks can perform differently from the market as a whole and other types of stocks and can be more volatile than other types of stocks.      "Value" Investing. "Value" stocks can perform differently from the market as a whole and other types of stocks and can continue to be undervalued by the market for long periods of time. In addition, the fund is classified as non-diversified under the Investment Company Act of 1940 (1940 Act), which means that it has the ability to invest a greater portion of assets in securities of a smaller number of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a more diversified fund. An investment in the fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.  You could lose money by investing in the fund. Performance The following information is intended to help you understand the risks of investing in the fund. The information illustrates the changes in the performance of Fidelity® OTC Portfolio, a class of shares of the fund, from year to year and compares the performance of this class to the performance of a securities market index and an additional index over various periods of time. The additional index has characteristics relevant to the fund's investment strategies. Index descriptions appear in the "Additional Index Information" section of the prospectus. Past performance (before and after taxes) is not an indication of future performance. Visit www.fidelity.com for more recent performance information for Fidelity® OTC Portfolio, a class of shares of the fund. Performance history will be available at institutional.fidelity.com for Class A, Class M, Class C, Class I, and Class Z after Class A, Class M, Class C, Class I, and Class Z have been in operation for one calendar year. The information illustrates the changes in the performance of Fidelity® OTC Portfolio, a class of shares of the fund, from year to year and compares the performance of this class to the performance of a securities market index and an additional index over various periods of time. Past performance (before and after taxes) is not an indication of future performance. www.fidelity.com Performance history will be available at institutional.fidelity.com for Class A, Class M, Class C, Class I, and Class Z after Class A, Class M, Class C, Class I, and Class Z have been in operation for one calendar year. Year-by-Year Returns 0.1092 0.0311 0.3859 -0.0321 0.3922 0.4679 0.2504 -0.3212 0.4264 0.3461    Highest Quarter Return 0.3092 2020-06-30    Lowest Quarter Return -0.2222 2022-06-30    Year-to-Date Return 0.0312 2025-06-30 * The returns shown above are for Fidelity® OTC Portfolio, a class of shares of the fund that is not offered through this prospectus. Class A, Class M, Class C, Class I, and Class Z would have substantially similar annual returns to Fidelity® OTC Portfolio because the classes are invested in the same portfolio of securities. Class A's, Class M's, Class C's, Class I's, and Class Z's returns would differ from Fidelity® OTC Portfolio's returns only to the extent that the classes do not have the same expenses. Average Annual Returns After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. Actual after-tax returns may differ depending on your individual circumstances. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, but do not reflect the impact of state or local taxes. The after-tax returns shown are not relevant if you hold your shares in a retirement account or in another tax-deferred arrangement, such as an employee benefit plan (profit sharing, 401(k), or 403(b) plan). Return After Taxes on Distributions and Sale of Fund Shares may be higher than other returns for the same period due to a tax benefit of realizing a capital loss upon the sale of fund shares. Return Before Taxes 0.3461 0.1906 0.1772 Return After Taxes on Distributions 0.3037 0.1697 0.1585 Return After Taxes on Distributions and Sale of Fund Shares 0.2302 0.1499 0.1440 Nasdaq Composite Index® 0.2957 0.1749 0.1620 S&P 500® Index 0.2502 0.1453 0.1310 * The returns shown above are for Fidelity® OTC Portfolio, a class of shares of the fund that is not offered through this prospectus. Class A, Class M, Class C, Class I, and Class Z would have substantially similar annual returns to Fidelity® OTC Portfolio because the classes are invested in the same portfolio of securities. Class A's, Class M's, Class C's, Class I's, and Class Z's returns would differ from Fidelity® OTC Portfolio's returns only to the extent that the classes do not have the same expenses. AClass A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively. BOn Class C shares redeemed less than one year after purchase. AThe management fee comprises a basic fee, which may vary by class, that is adjusted up or down by a maximum of 0.20% based on the performance of the fund or a designated class of the fund relative to that of the Russell 1000® Growth Index​. Please see "Fund Services - Fund Management - Advisory Fee(s)" for additional information. The performance adjustment component of the management fee represents activity for the period from October 8, 2024 (commencement of class operations) until July 31, 2025. Had the class been in existence for the entire fiscal year ended July 31, 2025, the management fee would have been 0.64%, 0.65%, 0.64%, 0.64% and 0.53% for Class A, Class M, Class C, Class I and Class Z, respectively. AClass A and Class M purchases of $1 million or more will not be subject to a front-end sales charge. Such Class A and Class M purchases may be subject, upon redemption, to a contingent deferred sales charge (CDSC) of 1.00% and 0.25%, respectively. BOn Class C shares redeemed less than one year after purchase. AThe management fee comprises a basic fee, which may vary by class, that is adjusted up or down by a maximum of 0.20% based on the performance of the fund or a designated class of the fund relative to that of the Nasdaq Composite Index®. Please see "Fund Services - Fund Management - Advisory Fee(s)" for additional information. The performance adjustment component of the management fee represents activity for the period from October 8, 2024 (commencement of class operations) until July 31, 2025. Had the class been in existence for the entire fiscal year ended July 31, 2025, the management fee would have been 0.76%, 0.77%, 0.76%, 0.77% and 0.65% for Class A, Class M, Class C, Class I and Class Z, respectively.