Quarterly Holdings Report
for
Fidelity Advisor® New Insights Fund
March 31, 2022
ANIF-NPRT1-0522
1.799846.118
Common Stocks - 96.5% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 15.7% | |||
Entertainment - 1.5% | |||
Netflix, Inc. (a) | 809,290 | 303,152 | |
Sea Ltd. ADR (a) | 35,900 | 4,300 | |
The Walt Disney Co. (a) | 62,581 | 8,584 | |
Universal Music Group NV | 685,968 | 18,360 | |
Warner Music Group Corp. Class A | 172,457 | 6,527 | |
340,923 | |||
Interactive Media & Services - 13.7% | |||
Alphabet, Inc.: | |||
Class A (a) | 581,496 | 1,617,349 | |
Class C (a) | 23,806 | 66,490 | |
Bumble, Inc. (a) | 279,684 | 8,105 | |
CarGurus, Inc. Class A (a) | 1,135 | 48 | |
Meta Platforms, Inc. Class A (a) | 6,080,116 | 1,351,975 | |
Snap, Inc. Class A (a) | 540,167 | 19,441 | |
Tencent Holdings Ltd. | 174,400 | 8,039 | |
Zoominfo Technologies, Inc. (a) | 164,209 | 9,810 | |
3,081,257 | |||
Media - 0.1% | |||
Liberty Media Corp. Liberty Formula One Group Series C (a) | 350,433 | 24,474 | |
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. (a) | 642,000 | 82,401 | |
TOTAL COMMUNICATION SERVICES | 3,529,055 | ||
CONSUMER DISCRETIONARY - 12.2% | |||
Automobiles - 0.5% | |||
General Motors Co. (a) | 627,240 | 27,435 | |
Harley-Davidson, Inc. | 53,629 | 2,113 | |
Hyundai Motor Co. | 77,337 | 11,385 | |
Rad Power Bikes, Inc. (a)(b)(c) | 474,452 | 4,547 | |
Rivian Automotive, Inc. | 164,905 | 7,871 | |
Tesla, Inc. (a) | 7,984 | 8,604 | |
Toyota Motor Corp. | 1,990,102 | 35,897 | |
XPeng, Inc. Class A | 332,673 | 4,579 | |
102,431 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 2,800 | 266 | |
Hotels, Restaurants & Leisure - 0.9% | |||
Airbnb, Inc. Class A (a) | 136,694 | 23,479 | |
Booking Holdings, Inc. (a) | 454 | 1,066 | |
Caesars Entertainment, Inc. (a) | 270,000 | 20,887 | |
Chipotle Mexican Grill, Inc. (a) | 9,327 | 14,756 | |
Hilton Worldwide Holdings, Inc. (a) | 680,268 | 103,224 | |
Marriott International, Inc. Class A (a) | 38,783 | 6,816 | |
Sweetgreen, Inc. | 775,600 | 23,571 | |
Sweetgreen, Inc. Class A (d) | 449,600 | 14,383 | |
208,182 | |||
Household Durables - 0.1% | |||
Blu Investments LLC (a)(b)(c) | 98,215,581 | 30 | |
D.R. Horton, Inc. | 110,675 | 8,246 | |
Lennar Corp. Class A | 165,818 | 13,459 | |
21,735 | |||
Internet & Direct Marketing Retail - 7.0% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 43,100 | 4,689 | |
Amazon.com, Inc. (a) | 452,355 | 1,474,655 | |
Cazoo Group Ltd. Class A (a) | 822,619 | 2,270 | |
Chewy, Inc. (a) | 27,400 | 1,117 | |
Coupang, Inc. Class A (a) | 1,290,965 | 22,824 | |
Deliveroo PLC Class A (a)(e) | 5,264,631 | 7,794 | |
Doordash, Inc. (a) | 88,972 | 10,427 | |
FSN E-Commerce Ventures Private Ltd. | 1,779 | 39 | |
Global-e Online Ltd. (a) | 443,800 | 14,992 | |
JD.com, Inc. sponsored ADR (a) | 65,300 | 3,779 | |
Pinduoduo, Inc. ADR (a) | 335,000 | 13,437 | |
Porch Group, Inc. Class A (a) | 548,100 | 3,807 | |
Wayfair LLC Class A (a) | 96,078 | 10,644 | |
Zomato Ltd. (a)(b) | 6,787,100 | 6,621 | |
1,577,095 | |||
Leisure Products - 0.0% | |||
Thule Group AB (e) | 62,354 | 2,487 | |
Multiline Retail - 0.3% | |||
Dollar Tree, Inc. (a) | 340,807 | 54,580 | |
Dollarama, Inc. | 48,472 | 2,749 | |
Kohl's Corp. | 56,000 | 3,386 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 315,135 | 13,538 | |
74,253 | |||
Specialty Retail - 2.3% | |||
Academy Sports & Outdoors, Inc. | 601,706 | 23,707 | |
American Eagle Outfitters, Inc. | 443,300 | 7,447 | |
Auto1 Group SE (a)(e) | 51,600 | 590 | |
AutoZone, Inc. (a) | 13,086 | 26,755 | |
Dick's Sporting Goods, Inc. | 349,645 | 34,971 | |
Fanatics, Inc. Class A (b)(c) | 372,921 | 25,299 | |
Floor & Decor Holdings, Inc. Class A (a) | 423,600 | 34,312 | |
Lowe's Companies, Inc. | 583,900 | 118,059 | |
National Vision Holdings, Inc. (a)(d) | 162,789 | 7,093 | |
O'Reilly Automotive, Inc. (a) | 49,771 | 34,091 | |
The Home Depot, Inc. | 550,113 | 164,665 | |
TJX Companies, Inc. | 183,803 | 11,135 | |
Ulta Beauty, Inc. (a) | 10,200 | 4,062 | |
Williams-Sonoma, Inc. | 160,933 | 23,335 | |
515,521 | |||
Textiles, Apparel & Luxury Goods - 1.1% | |||
Allbirds, Inc. Class A (d) | 842,453 | 5,063 | |
Brunello Cucinelli SpA | 958,800 | 56,322 | |
Capri Holdings Ltd. (a) | 344,100 | 17,683 | |
China Hongxing Sports Ltd. (a)(c) | 5,977,800 | 250 | |
Deckers Outdoor Corp. (a) | 26,782 | 7,332 | |
Dr. Martens Ltd. | 1,872,811 | 5,875 | |
lululemon athletica, Inc. (a) | 14,344 | 5,239 | |
LVMH Moet Hennessy Louis Vuitton SE | 69,000 | 49,252 | |
NIKE, Inc. Class B | 347,903 | 46,814 | |
On Holding AG (d) | 157,300 | 3,970 | |
PVH Corp. | 248,690 | 19,052 | |
Ralph Lauren Corp. | 53,300 | 6,046 | |
Tapestry, Inc. | 863,029 | 32,062 | |
254,960 | |||
TOTAL CONSUMER DISCRETIONARY | 2,756,930 | ||
CONSUMER STAPLES - 2.0% | |||
Beverages - 0.6% | |||
Anheuser-Busch InBev SA NV | 128,113 | 7,660 | |
Diageo PLC | 181,035 | 9,183 | |
Keurig Dr. Pepper, Inc. | 33,371 | 1,265 | |
PepsiCo, Inc. | 99,660 | 16,681 | |
The Coca-Cola Co. | 1,492,518 | 92,536 | |
127,325 | |||
Food & Staples Retailing - 0.9% | |||
Albertsons Companies, Inc. | 40,560 | 1,349 | |
Costco Wholesale Corp. | 364,700 | 210,012 | |
Kroger Co. | 21,491 | 1,233 | |
212,594 | |||
Food Products - 0.0% | |||
Nestle SA (Reg. S) | 10,102 | 1,313 | |
The Vita Coco Co., Inc. (d) | 63,489 | 569 | |
1,882 | |||
Household Products - 0.1% | |||
Procter & Gamble Co. | 195,073 | 29,807 | |
Personal Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 248,904 | 67,782 | |
L'Oreal SA (a) | 29,812 | 11,908 | |
Olaplex Holdings, Inc. | 205,478 | 3,212 | |
82,902 | |||
TOTAL CONSUMER STAPLES | 454,510 | ||
ENERGY - 3.6% | |||
Energy Equipment & Services - 0.0% | |||
Baker Hughes Co. Class A | 37,000 | 1,347 | |
Halliburton Co. | 179,800 | 6,809 | |
Noble Finance Co. (e) | 4,432 | 155 | |
8,311 | |||
Oil, Gas & Consumable Fuels - 3.6% | |||
Canadian Natural Resources Ltd. | 1,736,988 | 107,555 | |
Cenovus Energy, Inc. (d) | 2,455,100 | 40,951 | |
Cenovus Energy, Inc. (Canada) | 80,591 | 1,343 | |
Cheniere Energy, Inc. | 726,117 | 100,676 | |
Chevron Corp. | 104,405 | 17,000 | |
ConocoPhillips Co. | 337,611 | 33,761 | |
Continental Resources, Inc. | 21,600 | 1,325 | |
Devon Energy Corp. | 290,458 | 17,175 | |
Diamondback Energy, Inc. | 123,043 | 16,867 | |
EOG Resources, Inc. | 209,616 | 24,993 | |
Exxon Mobil Corp. | 1,701,607 | 140,536 | |
GoviEx Uranium, Inc. (a) | 642,355 | 226 | |
GoviEx Uranium, Inc. (a)(e) | 23,200 | 8 | |
GoviEx Uranium, Inc. Class A (a)(e) | 2,625,135 | 924 | |
Hess Corp. | 1,267,617 | 135,686 | |
Occidental Petroleum Corp. | 145,518 | 8,257 | |
Phillips 66 Co. | 18,540 | 1,602 | |
Pioneer Natural Resources Co. | 116,565 | 29,145 | |
Reliance Industries Ltd. | 955,831 | 32,993 | |
Reliance Industries Ltd. sponsored GDR (e) | 313,600 | 21,638 | |
Suncor Energy, Inc. | 2,144,990 | 69,832 | |
802,493 | |||
TOTAL ENERGY | 810,804 | ||
FINANCIALS - 12.2% | |||
Banks - 3.4% | |||
Bank of America Corp. | 5,612,765 | 231,358 | |
Citigroup, Inc. | 173,300 | 9,254 | |
Comerica, Inc. | 80,300 | 7,262 | |
HDFC Bank Ltd. sponsored ADR | 643,371 | 39,458 | |
JPMorgan Chase & Co. | 739,059 | 100,749 | |
Kotak Mahindra Bank Ltd. (a) | 218,082 | 4,999 | |
Nu Holdings Ltd. (d) | 381,766 | 2,947 | |
Royal Bank of Canada | 623,160 | 68,609 | |
Starling Bank Ltd. Series D (a)(b)(c) | 3,417,864 | 10,587 | |
The Toronto-Dominion Bank | 778,667 | 61,781 | |
Wells Fargo & Co. | 4,745,116 | 229,948 | |
766,952 | |||
Capital Markets - 1.6% | |||
BlackRock, Inc. Class A | 44,500 | 34,006 | |
Brookfield Asset Management, Inc. (Canada) Class A | 208,250 | 11,774 | |
Charles Schwab Corp. | 567,681 | 47,861 | |
CME Group, Inc. | 31,934 | 7,596 | |
Coinbase Global, Inc. (a) | 83,721 | 15,895 | |
Goldman Sachs Group, Inc. | 147,973 | 48,846 | |
Intercontinental Exchange, Inc. | 70,592 | 9,327 | |
Morgan Stanley | 1,705,847 | 149,091 | |
MSCI, Inc. | 77,419 | 38,932 | |
363,328 | |||
Consumer Finance - 0.9% | |||
American Express Co. | 506,908 | 94,792 | |
Capital One Financial Corp. | 759,942 | 99,773 | |
194,565 | |||
Diversified Financial Services - 4.4% | |||
Berkshire Hathaway, Inc. Class A (a) | 1,888 | 998,603 | |
Insurance - 1.9% | |||
Admiral Group PLC | 1,051,288 | 35,396 | |
American International Group, Inc. | 872,226 | 54,750 | |
Aon PLC | 9,270 | 3,019 | |
Arthur J. Gallagher & Co. | 121,400 | 21,196 | |
Brookfield Asset Management Reinsurance Partners Ltd. | 889 | 51 | |
Chubb Ltd. | 604,407 | 129,283 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 43,767 | 23,877 | |
Hartford Financial Services Group, Inc. | 208,053 | 14,940 | |
Hiscox Ltd. | 2,341,932 | 30,260 | |
Intact Financial Corp. | 84,374 | 12,467 | |
Marsh & McLennan Companies, Inc. | 29,237 | 4,983 | |
Progressive Corp. | 388,110 | 44,241 | |
The Travelers Companies, Inc. | 263,338 | 48,120 | |
422,583 | |||
TOTAL FINANCIALS | 2,746,031 | ||
HEALTH CARE - 12.9% | |||
Biotechnology - 2.0% | |||
AbbVie, Inc. | 308,289 | 49,977 | |
Alnylam Pharmaceuticals, Inc. (a) | 67,756 | 11,064 | |
Argenx SE ADR (a) | 63,732 | 20,095 | |
Ascendis Pharma A/S sponsored ADR (a) | 29,200 | 3,427 | |
Avid Bioservices, Inc. (a) | 546,400 | 11,130 | |
BioCryst Pharmaceuticals, Inc. (a) | 38,156 | 620 | |
Biohaven Pharmaceutical Holding Co. Ltd. (a) | 8,900 | 1,055 | |
BioNTech SE ADR (a) | 8,300 | 1,416 | |
Erasca, Inc. | 145,300 | 1,250 | |
Galapagos NV sponsored ADR (a)(d) | 136,569 | 8,470 | |
Horizon Therapeutics PLC (a) | 500,892 | 52,699 | |
Idorsia Ltd. (a)(d) | 242,734 | 4,841 | |
Instil Bio, Inc. (a) | 562,300 | 6,045 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(c) | 26,062 | 0 | |
Intellia Therapeutics, Inc. (a) | 27,954 | 2,031 | |
Light Sciences Oncology, Inc. (a)(c) | 2,708,254 | 0 | |
Regeneron Pharmaceuticals, Inc. (a) | 310,399 | 216,789 | |
Relay Therapeutics, Inc. (a) | 167,800 | 5,022 | |
Vertex Pharmaceuticals, Inc. (a) | 232,546 | 60,688 | |
Zai Lab Ltd. (a) | 522,520 | 2,379 | |
458,998 | |||
Health Care Equipment & Supplies - 1.2% | |||
Abbott Laboratories | 192,176 | 22,746 | |
Boston Scientific Corp. (a) | 1,143,708 | 50,655 | |
DexCom, Inc. (a) | 3,358 | 1,718 | |
Edwards Lifesciences Corp. (a) | 252,650 | 29,742 | |
Envista Holdings Corp. (a) | 273,855 | 13,339 | |
Figs, Inc. Class A (a) | 510,561 | 10,987 | |
Hologic, Inc. (a) | 410,700 | 31,550 | |
I-Pulse, Inc. (a)(b)(c) | 58,562 | 632 | |
Intuitive Surgical, Inc. (a) | 295,051 | 89,011 | |
Sonova Holding AG | 41,274 | 17,313 | |
Tandem Diabetes Care, Inc. (a) | 78,870 | 9,172 | |
276,865 | |||
Health Care Providers & Services - 4.4% | |||
23andMe Holding Co. Class B (e) | 1,750,133 | 6,703 | |
AmerisourceBergen Corp. | 100,720 | 15,582 | |
Anthem, Inc. | 47,215 | 23,193 | |
Cano Health, Inc. (a) | 1,143,817 | 7,263 | |
Centene Corp. (a) | 618,718 | 52,090 | |
Cigna Corp. | 387,500 | 92,849 | |
CVS Health Corp. | 31,480 | 3,186 | |
dentalcorp Holdings Ltd. (a) | 378,915 | 4,604 | |
Guardant Health, Inc. (a) | 155,980 | 10,332 | |
HCA Holdings, Inc. | 170,557 | 42,745 | |
Henry Schein, Inc. (a) | 44,267 | 3,860 | |
McKesson Corp. | 9,610 | 2,942 | |
Molina Healthcare, Inc. (a) | 13,451 | 4,487 | |
Option Care Health, Inc. (a) | 367,691 | 10,501 | |
P3 Health Partners, Inc. (b) | 395,420 | 3,092 | |
UnitedHealth Group, Inc. | 1,362,124 | 694,642 | |
978,071 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. | 133,864 | 6,973 | |
Life Sciences Tools & Services - 1.9% | |||
Avantor, Inc. (a) | 1,106,000 | 37,405 | |
Bio-Rad Laboratories, Inc. Class A (a) | 6,067 | 3,417 | |
Danaher Corp. | 832,489 | 244,194 | |
Eurofins Scientific SA | 99,692 | 9,916 | |
IQVIA Holdings, Inc. (a) | 4,426 | 1,023 | |
Mettler-Toledo International, Inc. (a) | 21,354 | 29,323 | |
Olink Holding AB ADR (a) | 172,800 | 3,052 | |
Sartorius Stedim Biotech | 75,600 | 31,153 | |
Seer, Inc. (a) | 59,354 | 905 | |
Thermo Fisher Scientific, Inc. | 89,308 | 52,750 | |
Veterinary Emergency Group LLC Class A (b)(c)(f) | 175,933 | 9,214 | |
Waters Corp. (a) | 27,422 | 8,512 | |
West Pharmaceutical Services, Inc. | 10,041 | 4,124 | |
434,988 | |||
Pharmaceuticals - 3.4% | |||
AstraZeneca PLC: | |||
(United Kingdom) | 270,800 | 35,912 | |
sponsored ADR | 61,800 | 4,100 | |
Asymchem Laboratories Tianjin Co. Ltd. (H Shares) (e) | 67,698 | 2,388 | |
Bristol-Myers Squibb Co. | 387,682 | 28,312 | |
Eli Lilly & Co. | 1,425,783 | 408,301 | |
Intra-Cellular Therapies, Inc. (a) | 54,417 | 3,330 | |
Johnson & Johnson | 85,228 | 15,105 | |
Merck & Co., Inc. | 114,492 | 9,394 | |
Nuvation Bio, Inc. (a) | 212,427 | 1,117 | |
Pfizer, Inc. | 349,277 | 18,082 | |
Roche Holding AG (participation certificate) | 265,240 | 104,945 | |
Royalty Pharma PLC | 689,950 | 26,880 | |
Sanofi SA | 539,800 | 55,189 | |
UCB SA | 64,400 | 7,726 | |
Zoetis, Inc. Class A | 198,481 | 37,432 | |
758,213 | |||
TOTAL HEALTH CARE | 2,914,108 | ||
INDUSTRIALS - 6.0% | |||
Aerospace & Defense - 2.0% | |||
Lockheed Martin Corp. | 50,914 | 22,473 | |
Northrop Grumman Corp. | 307,986 | 137,737 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(b)(c) | 2,573,450 | 144,113 | |
Class C (a)(b)(c) | 45,460 | 2,546 | |
The Boeing Co. (a) | 327,100 | 62,640 | |
TransDigm Group, Inc. (a) | 75,538 | 49,216 | |
Woodward, Inc. | 177,700 | 22,197 | |
440,922 | |||
Air Freight & Logistics - 0.7% | |||
GXO Logistics, Inc. (a) | 428,170 | 30,546 | |
United Parcel Service, Inc. Class B | 624,382 | 133,905 | |
Zipline International, Inc. (b)(c) | 74,930 | 2,697 | |
167,148 | |||
Airlines - 0.2% | |||
Joby Aviation, Inc. (a) | 207,438 | 1,373 | |
Ryanair Holdings PLC sponsored ADR (a) | 424,625 | 36,993 | |
38,366 | |||
Building Products - 0.5% | |||
Carrier Global Corp. | 199,207 | 9,138 | |
Fortune Brands Home & Security, Inc. | 884,991 | 65,737 | |
Toto Ltd. | 1,044,276 | 41,939 | |
116,814 | |||
Commercial Services & Supplies - 0.2% | |||
Aurora Innovation, Inc. (a) | 224,727 | 1,256 | |
Cintas Corp. | 45,412 | 19,318 | |
Clean TeQ Water Pty Ltd. (a) | 3,189 | 1 | |
GFL Environmental, Inc. | 92,774 | 3,019 | |
TulCo LLC (a)(b)(c)(f) | 17,377 | 10,331 | |
33,925 | |||
Electrical Equipment - 0.2% | |||
Acuity Brands, Inc. | 223,100 | 42,233 | |
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 1,681,250 | 153,834 | |
Roper Technologies, Inc. | 107,000 | 50,529 | |
204,363 | |||
Machinery - 0.3% | |||
AutoStore Holdings Ltd. | 146,700 | 537 | |
Caterpillar, Inc. | 60,400 | 13,458 | |
Deere & Co. | 78,098 | 32,447 | |
Ingersoll Rand, Inc. | 256,796 | 12,930 | |
Otis Worldwide Corp. | 34,828 | 2,680 | |
PACCAR, Inc. | 42,528 | 3,745 | |
65,797 | |||
Professional Services - 0.1% | |||
CACI International, Inc. Class A (a) | 81,000 | 24,402 | |
Verisk Analytics, Inc. | 6,500 | 1,395 | |
25,797 | |||
Road & Rail - 0.9% | |||
Canadian Pacific Railway Ltd. | 874,164 | 72,148 | |
J.B. Hunt Transport Services, Inc. | 104,376 | 20,958 | |
Old Dominion Freight Lines, Inc. | 50,800 | 15,173 | |
Uber Technologies, Inc. (a) | 938,300 | 33,479 | |
Union Pacific Corp. | 105,708 | 28,880 | |
XPO Logistics, Inc. (a) | 428,170 | 31,171 | |
201,809 | |||
Trading Companies & Distributors - 0.0% | |||
Ferguson PLC | 28,825 | 3,930 | |
Transportation Infrastructure - 0.0% | |||
Delhivery Private Ltd. (b)(c) | 1,057,200 | 8,177 | |
TOTAL INDUSTRIALS | 1,349,281 | ||
INFORMATION TECHNOLOGY - 27.8% | |||
Communications Equipment - 0.1% | |||
Arista Networks, Inc. (a) | 99,585 | 13,840 | |
Electronic Equipment & Components - 0.7% | |||
Amphenol Corp. Class A | 1,671,638 | 125,958 | |
CDW Corp. | 61,279 | 10,962 | |
Jabil, Inc. | 20,694 | 1,277 | |
Keysight Technologies, Inc. (a) | 44,983 | 7,106 | |
Samsung SDI Co. Ltd. | 6,274 | 3,047 | |
148,350 | |||
IT Services - 2.7% | |||
Accenture PLC Class A | 349,611 | 117,899 | |
Adyen BV (a)(e) | 16,052 | 31,794 | |
Affirm Holdings, Inc. (a)(d) | 30,500 | 1,412 | |
ASAC II LP (a)(b)(c) | 9,408,021 | 1,581 | |
Cloudflare, Inc. (a) | 296,369 | 35,475 | |
Cognizant Technology Solutions Corp. Class A | 441,028 | 39,547 | |
Dlocal Ltd. | 633,300 | 19,797 | |
Gartner, Inc. (a) | 91,281 | 27,152 | |
MasterCard, Inc. Class A | 459,500 | 164,216 | |
MongoDB, Inc. Class A (a) | 159,349 | 70,686 | |
PayPal Holdings, Inc. (a) | 367,900 | 42,548 | |
Shopify, Inc. Class A (a) | 46,226 | 31,262 | |
Snowflake, Inc. (a) | 48,700 | 11,159 | |
Visa, Inc. Class A | 84,270 | 18,689 | |
613,217 | |||
Semiconductors & Semiconductor Equipment - 8.6% | |||
Advanced Micro Devices, Inc. (a) | 1,524,534 | 166,693 | |
AEHR Test Systems (a) | 87,709 | 891 | |
Analog Devices, Inc. | 147,992 | 24,445 | |
Applied Materials, Inc. | 578,717 | 76,275 | |
ASML Holding NV (Netherlands) | 47,200 | 31,540 | |
Broadcom, Inc. | 22,021 | 13,866 | |
Lam Research Corp. | 142,515 | 76,617 | |
Lattice Semiconductor Corp. (a) | 109,905 | 6,699 | |
Marvell Technology, Inc. | 1,899,687 | 136,227 | |
Micron Technology, Inc. | 295,047 | 22,981 | |
Monolithic Power Systems, Inc. | 6,532 | 3,172 | |
NVIDIA Corp. | 3,780,186 | 1,031,462 | |
NXP Semiconductors NV | 238,213 | 44,088 | |
onsemi (a) | 406,148 | 25,429 | |
Qualcomm, Inc. | 1,149,604 | 175,682 | |
Semtech Corp. (a) | 68,437 | 4,745 | |
Silergy Corp. | 8,035 | 943 | |
SiTime Corp. (a) | 5,948 | 1,474 | |
Synaptics, Inc. (a) | 334,508 | 66,734 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 362,000 | 37,742 | |
1,947,705 | |||
Software - 12.0% | |||
Adobe, Inc. (a) | 820,256 | 373,725 | |
Anaplan, Inc. (a) | 297,198 | 19,333 | |
Atlassian Corp. PLC (a) | 362,821 | 106,608 | |
Autodesk, Inc. (a) | 217,731 | 46,671 | |
Bill.Com Holdings, Inc. (a)(d) | 26,031 | 5,904 | |
Cadence Design Systems, Inc. (a) | 112,043 | 18,427 | |
Check Point Software Technologies Ltd. (a) | 46,023 | 6,363 | |
Clear Secure, Inc. (d) | 83,663 | 2,249 | |
Confluent, Inc. (d) | 32,400 | 1,328 | |
Datadog, Inc. Class A (a) | 203,039 | 30,754 | |
Dynatrace, Inc. (a) | 769,816 | 36,258 | |
Elastic NV (a) | 155,890 | 13,866 | |
Epic Games, Inc. (a)(b)(c) | 23,900 | 16,829 | |
Fortinet, Inc. (a) | 25,393 | 8,678 | |
HashiCorp, Inc. | 7,000 | 378 | |
HubSpot, Inc. (a) | 984 | 467 | |
Intuit, Inc. | 239,662 | 115,239 | |
KnowBe4, Inc. (a) | 246,237 | 5,668 | |
Magic Leap, Inc.: | |||
Class A (c) | 30,864 | 593 | |
warrants (a)(c) | 46,794 | 898 | |
Microsoft Corp. | 4,431,615 | 1,366,311 | |
Monday.com Ltd. | 11,030 | 1,744 | |
Palo Alto Networks, Inc. (a) | 17,107 | 10,649 | |
Qualtrics International, Inc. (a) | 340,680 | 9,726 | |
Rapid7, Inc. (a) | 508,200 | 56,532 | |
Salesforce.com, Inc. (a) | 1,446,593 | 307,141 | |
SentinelOne, Inc. (d) | 43,436 | 1,683 | |
ServiceNow, Inc. (a) | 79,799 | 44,439 | |
Stripe, Inc. Class B (a)(b)(c) | 83,200 | 3,075 | |
Tanium, Inc. Class B (a)(b)(c) | 1,259,978 | 15,636 | |
Tenable Holdings, Inc. (a) | 920,826 | 53,215 | |
Volue A/S (a) | 313,314 | 1,594 | |
Workday, Inc. Class A (a) | 70,447 | 16,869 | |
2,698,850 | |||
Technology Hardware, Storage & Peripherals - 3.7% | |||
Apple, Inc. | 4,224,010 | 737,554 | |
Dell Technologies, Inc. | 314,460 | 15,783 | |
Samsung Electronics Co. Ltd. | 1,515,620 | 86,539 | |
839,876 | |||
TOTAL INFORMATION TECHNOLOGY | 6,261,838 | ||
MATERIALS - 3.7% | |||
Chemicals - 0.8% | |||
CF Industries Holdings, Inc. | 266,482 | 27,464 | |
Corteva, Inc. | 22,400 | 1,288 | |
Nutrien Ltd. | 44,600 | 4,610 | |
Nutrien Ltd. | 70,900 | 7,373 | |
Sherwin-Williams Co. | 347,869 | 86,835 | |
The Mosaic Co. | 420,984 | 27,995 | |
Tronox Holdings PLC | 1,072,200 | 21,219 | |
Westlake Corp. (d) | 63,287 | 7,810 | |
184,594 | |||
Metals & Mining - 2.9% | |||
Agnico Eagle Mines Ltd. (Canada) | 26,600 | 1,628 | |
ArcelorMittal SA Class A unit GDR | 40,500 | 1,296 | |
B2Gold Corp. | 13,035,880 | 59,854 | |
Barrick Gold Corp. (Canada) | 1,142,469 | 28,019 | |
Cleveland-Cliffs, Inc. (a) | 469,470 | 15,122 | |
First Quantum Minerals Ltd. | 22,300 | 772 | |
Franco-Nevada Corp. | 1,055,436 | 167,955 | |
Freeport-McMoRan, Inc. | 2,711,100 | 134,850 | |
Glencore Xstrata PLC | 617,400 | 4,017 | |
Ivanhoe Electric, Inc. (b)(c) | 16,491 | 14 | |
Ivanhoe Mines Ltd. (a) | 8,031,618 | 74,910 | |
MP Materials Corp. (a)(d) | 25,564 | 1,466 | |
Newmont Corp. | 382,900 | 30,421 | |
Novagold Resources, Inc. (a) | 3,162,749 | 24,363 | |
Nucor Corp. | 357,425 | 53,131 | |
Steel Dynamics, Inc. | 264,321 | 22,052 | |
Stelco Holdings, Inc. | 59,147 | 2,460 | |
Sunrise Energy Metals Ltd. (a) | 6,378 | 12 | |
Wheaton Precious Metals Corp. | 767,900 | 36,517 | |
658,859 | |||
TOTAL MATERIALS | 843,453 | ||
REAL ESTATE - 0.2% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
Equity Commonwealth (a) | 255,024 | 7,194 | |
Gaming & Leisure Properties | 4,888 | 229 | |
Prologis (REIT), Inc. | 165,802 | 26,774 | |
Welltower, Inc. | 32,300 | 3,105 | |
37,302 | |||
UTILITIES - 0.2% | |||
Electric Utilities - 0.2% | |||
Constellation Energy Corp. | 67,200 | 3,780 | |
Exelon Corp. | 111,900 | 5,330 | |
NextEra Energy, Inc. | 71,662 | 6,070 | |
PG&E Corp. (a) | 1,529,300 | 18,260 | |
Southern Co. | 61,200 | 4,438 | |
37,878 | |||
TOTAL COMMON STOCKS (Cost $9,587,190) | 21,741,190 | ||
Preferred Stocks - 1.3% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 1.2% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
Reddit, Inc.: | |||
Series E(b)(c) | 30,200 | 1,866 | |
Series F(b)(c) | 127,549 | 7,882 | |
9,748 | |||
CONSUMER DISCRETIONARY - 0.2% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 61,855 | 593 | |
Series C(a)(b)(c) | 243,394 | 2,333 | |
Series D(b)(c) | 411,659 | 3,945 | |
6,871 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (b)(c) | 2,800 | 1,542 | |
Internet & Direct Marketing Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(b)(c) | 8,102 | 3,297 | |
Series H(b)(c) | 10,223 | 4,160 | |
7,457 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
Bolt Threads, Inc.: | |||
Series D(a)(b)(c) | 1,324,673 | 25,097 | |
Series E(b)(c) | 627,820 | 11,895 | |
36,992 | |||
TOTAL CONSUMER DISCRETIONARY | 52,862 | ||
CONSUMER STAPLES - 0.0% | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (b)(c) | 82,543 | 3,942 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (b)(c) | 594,600 | 2,146 | |
Intarcia Therapeutics, Inc. Series CC (a)(b)(c) | 516,522 | 0 | |
2,146 | |||
Health Care Providers & Services - 0.0% | |||
Lyra Health, Inc.: | |||
Series E(a)(b)(c) | 270,000 | 4,922 | |
Series F(b)(c) | 10,070 | 184 | |
Somatus, Inc. Series E (b)(c) | 2,206 | 1,925 | |
7,031 | |||
TOTAL HEALTH CARE | 9,177 | ||
INDUSTRIALS - 0.7% | |||
Aerospace & Defense - 0.7% | |||
Relativity Space, Inc. Series E (b)(c) | 308,359 | 6,494 | |
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 145,254 | 81,342 | |
Series H(a)(b)(c) | 42,094 | 23,573 | |
Series N(a)(b)(c) | 66,208 | 37,076 | |
148,485 | |||
Air Freight & Logistics - 0.0% | |||
Zipline International, Inc. Series E (a)(b)(c) | 208,789 | 7,516 | |
TOTAL INDUSTRIALS | 156,001 | ||
INFORMATION TECHNOLOGY - 0.2% | |||
IT Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 130,945 | 19,282 | |
Software - 0.1% | |||
Nuro, Inc.: | |||
Series C(a)(b)(c) | 491,080 | 10,237 | |
Series D(b)(c) | 94,265 | 1,965 | |
Stripe, Inc. Series H (b)(c) | 34,900 | 1,290 | |
Tenstorrent, Inc. Series C1 (b)(c) | 36,600 | 2,746 | |
16,238 | |||
TOTAL INFORMATION TECHNOLOGY | 35,520 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS | 267,250 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Internet & Direct Marketing Retail - 0.1% | |||
Circle Internet Financial Ltd. Series E (b) | 615,508 | 14,159 | |
ENERGY - 0.0% | |||
Oil, Gas & Consumable Fuels - 0.0% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 846,847 | 12,533 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Magic Leap, Inc. Series AA (c) | 325,854 | 6,256 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 32,948 | ||
TOTAL PREFERRED STOCKS (Cost $173,461) | 300,198 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/22 (b)(c) | 2,280 | 0 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(h) | 2,040 | 2,040 | |
TOTAL PREFERRED SECURITIES (Cost $4,320) | 2,040 | ||
Other - 0.1% | |||
Shares | Value ($) (000s) | ||
Other - 0.1% | |||
Utica Shale Drilling Program (non-operating revenue interest) (b)(c)(f) (Cost $49,606) | 38,874,241 | 13,992 | |
Money Market Funds - 2.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 0.31% (i) | 467,816,505 | 467,910 | |
Fidelity Securities Lending Cash Central Fund 0.31% (i)(j) | 50,832,792 | 50,838 | |
TOTAL MONEY MARKET FUNDS (Cost $518,748) | 518,748 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $10,333,325) | 22,576,168 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (38,242) |
NET ASSETS - 100.0% | 22,537,926 |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) | Non-income producing |
(b) | 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 $562,462,000 or 2.5% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(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 $74,481,000 or 0.3% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security is perpetual in nature with no stated maturity date. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ASAC II LP | 10/10/13 | 725 |
Blu Investments LLC | 5/21/20 | 170 |
Bolt Threads, Inc. Series D | 12/13/17 | 21,247 |
Bolt Threads, Inc. Series E | 2/07/20 | 9,657 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 4,973 |
ByteDance Ltd. Series E1 | 11/18/20 | 14,348 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 9,990 |
Delhivery Private Ltd. | 5/20/21 | 5,161 |
Discord, Inc. Series I | 9/15/21 | 1,542 |
ElevateBio LLC Series C | 3/09/21 | 2,494 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 13,744 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 12,264 |
GoBrands, Inc. Series G | 3/02/21 | 2,023 |
GoBrands, Inc. Series H | 7/22/21 | 3,972 |
I-Pulse, Inc. | 3/18/10 | 81 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 7,040 |
Intarcia Therapeutics, Inc. 6% 7/18/22 | 1/03/20 | 2,280 |
Ivanhoe Electric, Inc. | 6/29/21 | 14 |
Lyra Health, Inc. Series E | 1/14/21 | 2,472 |
Lyra Health, Inc. Series F | 6/04/21 | 158 |
Nuro, Inc. Series C | 10/30/20 | 6,411 |
Nuro, Inc. Series D | 10/29/21 | 1,965 |
P3 Health Partners, Inc. | 5/25/21 | 3,954 |
Rad Power Bikes, Inc. | 1/21/21 | 2,289 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 298 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 1,175 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 3,945 |
Reddit, Inc. Series E | 5/18/21 | 1,283 |
Reddit, Inc. Series F | 8/11/21 | 7,882 |
Relativity Space, Inc. Series E | 5/27/21 | 7,041 |
Somatus, Inc. Series E | 1/31/22 | 1,925 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 2/16/21 | 29,629 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 614 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 11,251 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 5,682 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 17,876 |
Starling Bank Ltd. Series D | 6/18/21 | 6,111 |
Stripe, Inc. Class B | 5/18/21 | 3,338 |
Stripe, Inc. Series H | 3/15/21 | 1,400 |
Tanium, Inc. Class B | 4/21/17 - 9/18/20 | 9,907 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 2,176 |
Tenstorrent, Inc. 0% | 4/23/21 | 2,040 |
TulCo LLC | 8/24/17 | 5,885 |
Utica Shale Drilling Program (non-operating revenue interest) | 10/05/16 - 12/16/20 | 49,606 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 3/17/22 | 6,556 |
Zipline International, Inc. | 10/12/21 | 2,697 |
Zipline International, Inc. Series E | 12/21/20 | 6,813 |
Zomato Ltd. | 12/09/20 - 2/05/21 | 4,146 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | %ownership, end of period |
Fidelity Cash Central Fund 0.31% | 218,233 | 2,412,878 | 2,163,201 | 126 | - | - | 467,910 | 0.9% |
Fidelity Securities Lending Cash Central Fund 0.31% | 23,793 | 226,480 | 199,435 | 646 | - | - | 50,838 | 0.1% |
Total | 242,026 | 2,639,358 | 2,362,636 | 772 | - | - | 518,748 |
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 inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing 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 any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.
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 any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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