NPORT-EX 2 QTLY_337_20200731.htm

Quarterly Holdings Report
for

Fidelity® Mid-Cap Stock Fund

July 31, 2020







MCS-QTLY-0920
1.804824.116





Schedule of Investments July 31, 2020 (Unaudited)

Showing Percentage of Net Assets

Common Stocks - 96.8%   
 Shares Value (000s) 
COMMUNICATION SERVICES - 2.3%   
Diversified Telecommunication Services - 0.9%   
Cogent Communications Group, Inc. 372,800 $33,593 
Iridium Communications, Inc. (a) 676,000 18,516 
  52,109 
Entertainment - 0.2%   
WME Entertainment Parent, LLC Class A (a)(b)(c)(d) 9,001,296 13,412 
Media - 1.2%   
Nexstar Broadcasting Group, Inc. Class A 439,400 38,513 
Omnicom Group, Inc. 637,000 34,226 
  72,739 
TOTAL COMMUNICATION SERVICES  138,260 
CONSUMER DISCRETIONARY - 15.5%   
Automobiles - 0.9%   
Aston Martin Lagonda Global Holdings PLC (a)(e)(f) 14,941,500 11,324 
Fiat Chrysler Automobiles NV 4,291,596 43,560 
  54,884 
Hotels, Restaurants & Leisure - 2.5%   
Boyd Gaming Corp. 925,412 21,905 
Churchill Downs, Inc. 297,700 41,237 
Dunkin' Brands Group, Inc. 582,200 40,015 
Wyndham Hotels & Resorts, Inc. 1,129,496 49,879 
  153,036 
Household Durables - 4.8%   
D.R. Horton, Inc. 1,174,789 77,724 
Lennar Corp. Class A 568,536 41,134 
Mohawk Industries, Inc. (a) 282,296 22,541 
NVR, Inc. (a) 38,271 150,411 
  291,810 
Internet & Direct Marketing Retail - 0.2%   
Coupang unit (c)(d) 1,932,161 14,491 
Leisure Products - 2.5%   
New Academy Holding Co. LLC unit (a)(c)(d)(g) 294,000 14,685 
Peloton Interactive, Inc. Class A (a) 1,555,776 106,135 
Smith & Wesson Brands, Inc. (a) 1,260,420 30,111 
  150,931 
Multiline Retail - 0.4%   
Dollar General Corp. 116,858 22,250 
Specialty Retail - 2.4%   
AutoZone, Inc. (a) 28,795 34,768 
Best Buy Co., Inc. 287,278 28,610 
National Vision Holdings, Inc. (a)(e) 1,314,767 42,059 
Ross Stores, Inc. 465,900 41,777 
  147,214 
Textiles, Apparel & Luxury Goods - 1.8%   
Allbirds, Inc. (a)(c)(d) 53,875 555 
Brunello Cucinelli SpA 2,065,300 59,945 
PVH Corp. 420,959 20,484 
Tapestry, Inc. 1,375,317 18,374 
Under Armour, Inc. Class A (sub. vtg.) (a) 1,090,018 11,467 
  110,825 
TOTAL CONSUMER DISCRETIONARY  945,441 
CONSUMER STAPLES - 4.3%   
Food & Staples Retailing - 0.7%   
Kroger Co. 1,189,056 41,367 
Food Products - 2.3%   
Bunge Ltd. 457,281 19,864 
Conagra Brands, Inc. 733,194 27,458 
Greencore Group PLC 15,719,584 26,318 
JDE Peet's BV 408,800 18,178 
Lamb Weston Holdings, Inc. 324,400 19,490 
Sanderson Farms, Inc. 258,400 28,810 
  140,118 
Household Products - 0.7%   
Reckitt Benckiser Group PLC 448,100 44,931 
Personal Products - 0.6%   
Edgewell Personal Care Co. (a) 1,192,003 35,629 
TOTAL CONSUMER STAPLES  262,045 
ENERGY - 5.5%   
Energy Equipment & Services - 0.6%   
Borr Drilling Ltd. (a)(e) 2,120,800 1,875 
Oceaneering International, Inc. (a) 1,963,779 11,036 
Pacific Drilling SA (a)(e) 914,803 411 
Schlumberger Ltd. 850,400 15,426 
TechnipFMC PLC 656,463 5,271 
  34,019 
Oil, Gas & Consumable Fuels - 4.9%   
Cabot Oil & Gas Corp. 1,469,044 27,471 
Cenovus Energy, Inc. (Canada) 5,817,500 25,885 
Cheniere Energy, Inc. (a) 1,010,500 50,000 
GasLog Ltd. (e) 1,148,215 3,353 
Golar LNG Ltd. (e) 1,948,645 14,615 
Hess Corp. 1,853,208 91,196 
Kosmos Energy Ltd. 7,067,701 11,379 
New Fortress Energy LLC (a) 1,273,500 27,508 
The Williams Companies, Inc. 2,403,139 45,972 
  297,379 
TOTAL ENERGY  331,398 
FINANCIALS - 18.6%   
Banks - 7.6%   
Bank of Hawaii Corp. 461,469 26,133 
Comerica, Inc. 444,914 17,138 
Cullen/Frost Bankers, Inc. 681,387 49,101 
First Horizon National Corp. 3,368,751 31,228 
Huntington Bancshares, Inc. 6,831,100 63,324 
M&T Bank Corp. 618,780 65,560 
Prosperity Bancshares, Inc. 912,270 50,686 
Signature Bank 602,800 61,805 
Truist Financial Corp. 795,511 29,800 
UMB Financial Corp. 614,700 30,612 
Wintrust Financial Corp. 852,900 36,504 
  461,891 
Capital Markets - 3.6%   
Cboe Global Markets, Inc. 212,200 18,610 
Lazard Ltd. Class A 851,059 24,953 
Northern Trust Corp. 509,100 39,888 
Raymond James Financial, Inc. 295,084 20,502 
The NASDAQ OMX Group, Inc. 456,500 59,943 
TPG Specialty Lending, Inc. 1,917,023 32,666 
Virtu Financial, Inc. Class A 897,600 22,260 
  218,822 
Insurance - 6.4%   
American Financial Group, Inc. 665,026 40,414 
American International Group, Inc. 921,500 29,617 
Arch Capital Group Ltd. (a) 1,783,600 54,846 
Axis Capital Holdings Ltd. 639,317 25,649 
Beazley PLC 2,865,400 15,656 
First American Financial Corp. 1,023,055 52,186 
Hartford Financial Services Group, Inc. 745,851 31,564 
Hiscox Ltd. 1,642,707 16,807 
Principal Financial Group, Inc. 648,600 27,520 
RenaissanceRe Holdings Ltd. 388,600 70,096 
The Travelers Companies, Inc. 261,200 29,887 
  394,242 
Thrifts & Mortgage Finance - 1.0%   
Radian Group, Inc. 4,062,510 60,613 
TOTAL FINANCIALS  1,135,568 
HEALTH CARE - 7.3%   
Biotechnology - 0.2%   
Viela Bio, Inc. 312,700 11,448 
Health Care Equipment & Supplies - 1.2%   
Hologic, Inc. (a) 1,007,930 70,333 
Health Care Providers & Services - 3.1%   
Centene Corp. (a) 696,784 45,465 
Molina Healthcare, Inc. (a) 591,678 109,283 
Universal Health Services, Inc. Class B 339,155 37,273 
  192,021 
Life Sciences Tools & Services - 1.5%   
Bruker Corp. 1,105,400 49,323 
Lonza Group AG 66,664 41,687 
  91,010 
Pharmaceuticals - 1.3%   
Kala Pharmaceuticals, Inc. (a) 1,132,300 9,908 
Nektar Therapeutics (a)(e) 1,488,800 32,992 
Recordati SpA 495,100 26,384 
Zogenix, Inc. (a) 502,100 11,945 
  81,229 
TOTAL HEALTH CARE  446,041 
INDUSTRIALS - 17.9%   
Aerospace & Defense - 2.3%   
Huntington Ingalls Industries, Inc. 254,583 44,224 
Kratos Defense & Security Solutions, Inc. (a) 2,196,900 39,566 
Space Exploration Technologies Corp.:   
Class A (a)(c)(d) 139,629 37,700 
Class C (c)(d) 2,034 549 
TransDigm Group, Inc. 42,600 18,385 
  140,424 
Air Freight & Logistics - 0.8%   
XPO Logistics, Inc. (a) 680,589 51,058 
Building Products - 1.3%   
Fortune Brands Home & Security, Inc. 456,300 34,907 
Owens Corning 736,000 44,506 
  79,413 
Commercial Services & Supplies - 1.5%   
IAA Spinco, Inc. (a) 619,280 26,846 
KAR Auction Services, Inc. (e) 614,992 9,305 
Stericycle, Inc. (a) 677,300 40,933 
U.S. Ecology, Inc. 365,981 12,692 
  89,776 
Construction & Engineering - 1.2%   
AECOM (a) 1,429,479 51,733 
Dycom Industries, Inc. (a) 469,900 20,126 
  71,859 
Electrical Equipment - 4.2%   
AMETEK, Inc. 674,594 62,906 
Generac Holdings, Inc. (a) 569,703 89,774 
Melrose Industries PLC 17,680,941 19,733 
Regal Beloit Corp. 595,401 54,759 
Sensata Technologies, Inc. PLC (a) 727,951 27,648 
  254,820 
Machinery - 4.5%   
Allison Transmission Holdings, Inc. 971,571 36,298 
Donaldson Co., Inc. 1,460,171 70,585 
Fortive Corp. 711,367 49,931 
Gardner Denver Holdings, Inc. (a) 1,154,095 36,458 
Oshkosh Corp. 587,006 46,209 
Pentair PLC 886,948 38,006 
  277,487 
Marine - 0.3%   
Goodbulk Ltd. (a)(d) 1,490,722 18,346 
Professional Services - 0.3%   
Clarivate Analytics PLC (a) 716,940 19,823 
Road & Rail - 1.1%   
Knight-Swift Transportation Holdings, Inc. Class A (e) 1,490,663 64,829 
Trading Companies & Distributors - 0.4%   
Beacon Roofing Supply, Inc. (a) 785,800 24,486 
TOTAL INDUSTRIALS  1,092,321 
INFORMATION TECHNOLOGY - 11.0%   
Communications Equipment - 0.4%   
Ericsson (B Shares) 1,988,500 23,136 
Electronic Equipment & Components - 4.6%   
Amphenol Corp. Class A 579,611 61,300 
Arrow Electronics, Inc. (a) 826,500 59,194 
CDW Corp. 222,700 25,889 
Fabrinet (a) 1,087,856 79,011 
FLIR Systems, Inc. 348,000 14,498 
Keysight Technologies, Inc. (a) 417,405 41,695 
  281,587 
IT Services - 4.5%   
Akamai Technologies, Inc. (a) 250,900 28,211 
Black Knight, Inc. (a) 309,712 23,204 
Euronet Worldwide, Inc. (a) 145,800 14,017 
Fiserv, Inc. (a) 292,500 29,189 
Gartner, Inc. (a) 133,400 16,627 
Leidos Holdings, Inc. 461,861 43,951 
Verra Mobility Corp. (a) 1,916,700 19,608 
WNS Holdings Ltd. sponsored ADR (a) 1,569,531 100,387 
  275,194 
Semiconductors & Semiconductor Equipment - 0.5%   
Lam Research Corp. 78,300 29,532 
Software - 1.0%   
Aspen Technology, Inc. (a) 331,900 32,281 
Citrix Systems, Inc. 172,500 24,626 
  56,907 
TOTAL INFORMATION TECHNOLOGY  666,356 
MATERIALS - 4.9%   
Chemicals - 1.2%   
LG Chemical Ltd. 83,610 39,712 
Nutrien Ltd. 480,500 15,648 
Olin Corp. 1,326,337 14,908 
  70,268 
Containers & Packaging - 0.9%   
Avery Dennison Corp. 225,774 25,589 
O-I Glass, Inc. 2,886,400 30,134 
  55,723 
Metals & Mining - 2.8%   
Commercial Metals Co. 1,450,700 30,000 
Franco-Nevada Corp. 333,600 53,323 
Newcrest Mining Ltd. 1,260,479 31,681 
Novagold Resources, Inc. (a) 3,780,676 34,576 
Steel Dynamics, Inc. 874,300 23,965 
  173,545 
TOTAL MATERIALS  299,536 
REAL ESTATE - 5.7%   
Equity Real Estate Investment Trusts (REITs) - 5.7%   
Apartment Investment & Management Co. Class A 888,899 34,507 
Cousins Properties, Inc. 1,276,338 39,209 
Gaming & Leisure Properties 976,926 35,374 
Healthcare Realty Trust, Inc. 1,675,304 49,086 
Healthcare Trust of America, Inc. 1,608,510 44,411 
National Retail Properties, Inc. 1,023,525 36,284 
Spirit Realty Capital, Inc. 772,583 26,623 
VEREIT, Inc. 5,970,879 38,870 
VICI Properties, Inc. 2,066,668 44,867 
  349,231 
UTILITIES - 3.8%   
Electric Utilities - 3.0%   
Alliant Energy Corp. 1,212,400 65,288 
IDACORP, Inc. 544,019 50,730 
OGE Energy Corp. 2,060,941 67,805 
  183,823 
Gas Utilities - 0.8%   
Atmos Energy Corp. 466,704 49,466 
TOTAL UTILITIES  233,289 
TOTAL COMMON STOCKS   
(Cost $5,124,444)  5,899,486 
Preferred Stocks - 1.2%   
Convertible Preferred Stocks - 1.1%   
CONSUMER DISCRETIONARY - 0.3%   
Textiles, Apparel & Luxury Goods - 0.3%   
Allbirds, Inc.:   
Series A (a)(c)(d) 21,265 219 
Series B (a)(c)(d) 3,735 38 
Series C (a)(c)(d) 35,700 368 
Series D (a)(c)(d) 68,801 709 
Series Seed (a)(c)(d) 101,339 1,044 
Bolt Threads, Inc. Series D (a)(c)(d) 976,285 16,529 
  18,907 
CONSUMER STAPLES - 0.1%   
Food & Staples Retailing - 0.1%   
Sweetgreen, Inc.:   
Series C (c)(d) 3,889 58 
Series D (c)(d) 62,561 931 
Series I (a)(c)(d) 147,450 2,194 
  3,183 
HEALTH CARE - 0.6%   
Health Care Equipment & Supplies - 0.6%   
Butterfly Network, Inc. Series D (c)(d) 1,647,945 37,754 
INDUSTRIALS - 0.1%   
Aerospace & Defense - 0.1%   
Space Exploration Technologies Corp. Series H (a)(c)(d) 18,837 5,086 
TOTAL CONVERTIBLE PREFERRED STOCKS  64,930 
Nonconvertible Preferred Stocks - 0.1%   
HEALTH CARE - 0.1%   
Health Care Providers & Services - 0.1%   
Oak Street Health LLC Series III-E (b)(c)(d) 45,575 9,932 
TOTAL PREFERRED STOCKS   
(Cost $48,472)  74,862 
 Principal Amount (000s) Value (000s) 
Corporate Bonds - 0.3%   
Convertible Bonds - 0.3%   
CONSUMER DISCRETIONARY - 0.1%   
Textiles, Apparel & Luxury Goods - 0.1%   
Bolt Threads, Inc. 3% 2/7/23 (c)(d) 7,161 7,161 
HEALTH CARE - 0.2%   
Health Care Equipment & Supplies - 0.2%   
Butterfly Network, Inc. 5% 5/21/22 (c)(d) 10,308 10,308 
TOTAL CONVERTIBLE BONDS  17,469 
Nonconvertible Bonds - 0.0%   
ENERGY - 0.0%   
Energy Equipment & Services - 0.0%   
Pacific Drilling SA 12% 4/1/24 pay-in-kind (f)(h) 463 
TOTAL CORPORATE BONDS   
(Cost $17,938)  17,474 
 Shares Value (000s) 
Other - 0.2%   
Other - 0.2%   
Utica Shale Drilling Program (non-operating revenue interest) (b)(c)(d) 15,731,366 739 
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 (b)(c)(d) 13,598,541 8,839 
TOTAL OTHER   
(Cost $20,409)  9,578 
Money Market Funds - 3.5%   
Fidelity Cash Central Fund 0.14% (i) 110,032,457 110,065 
Fidelity Securities Lending Cash Central Fund 0.13% (i)(j) 105,149,427 105,160 
TOTAL MONEY MARKET FUNDS   
(Cost $215,214)  215,225 
TOTAL INVESTMENT IN SECURITIES - 102.0%   
(Cost $5,426,477)  6,216,625 
NET OTHER ASSETS (LIABILITIES) - (2.0)%  (120,568) 
NET ASSETS - 100%  $6,096,057 

Legend

 (a) Non-income producing

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

 (c) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $183,301,000 or 3.0% of net assets.

 (d) Level 3 security

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

 (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 $11,329,000 or 0.2% of net assets.

 (g) 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.

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

 (i) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.

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

Additional information on each restricted holding is as follows:

Security Acquisition Date Acquisition Cost (000s) 
Allbirds, Inc. 10/9/18 $591 
Allbirds, Inc. Series A 10/9/18 $233 
Allbirds, Inc. Series B 10/9/18 $41 
Allbirds, Inc. Series C 10/9/18 $392 
Allbirds, Inc. Series D 12/23/19 $887 
Allbirds, Inc. Series Seed 10/9/18 - 1/23/20 $1,012 
Bolt Threads, Inc. Series D 12/13/17 $15,659 
Bolt Threads, Inc. 3% 2/7/23 2/7/20 $7,161 
Butterfly Network, Inc. Series D 5/4/18 $16,924 
Butterfly Network, Inc. 5% 5/21/22 5/19/20 $10,308 
Coupang unit 6/12/20 $14,491 
New Academy Holding Co. LLC unit 8/1/11 $30,988 
Oak Street Health LLC Series III-E 2/21/20 $7,123 
Space Exploration Technologies Corp. Class A 4/8/16 - 9/11/17 $14,283 
Space Exploration Technologies Corp. Class C 9/11/17 $275 
Space Exploration Technologies Corp. Series H 8/4/17 $2,543 
Sweetgreen, Inc. Series C 9/13/19 $67 
Sweetgreen, Inc. Series D 9/13/19 $1,070 
Sweetgreen, Inc. Series I 9/13/19 $2,521 
Utica Shale Drilling Program (non-operating revenue interest) 10/5/16 - 9/1/17 $6,810 
Utica Shale Drilling Program (non-operating revenue interest) 10% 10/5/23 10/5/16 - 4/5/18 $13,599 
WME Entertainment Parent, LLC Class A 8/16/16 $16,658 

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 $24 
Fidelity Securities Lending Cash Central Fund 564 
Total $588 

Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.

Investment Valuation

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security’s underlying assets and liabilities. 

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.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.





The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.

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