Quarterly Holdings Report
for
Fidelity® Contrafund®
March 31, 2023
CON-NPRT1-0523
1.799873.119
Common Stocks - 95.2% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 15.9% | |||
Entertainment - 2.1% | |||
Activision Blizzard, Inc. | 2,088,268 | 178,735 | |
Liberty Media Corp. Liberty Formula One Series C (a) | 3,489,588 | 261,126 | |
Netflix, Inc. (a) | 4,023,188 | 1,389,931 | |
The Walt Disney Co. (a) | 439,702 | 44,027 | |
Universal Music Group NV | 7,104,160 | 179,911 | |
2,053,730 | |||
Interactive Media & Services - 13.5% | |||
Alphabet, Inc.: | |||
Class A (a) | 22,206,888 | 2,303,520 | |
Class C (a) | 19,043,954 | 1,980,571 | |
Bumble, Inc. (a) | 2,364,990 | 46,236 | |
Epic Games, Inc. (a)(b)(c) | 123,700 | 92,236 | |
Meta Platforms, Inc. Class A (a) | 41,496,460 | 8,794,764 | |
13,217,327 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 249,937 | 9,475 | |
Wireless Telecommunication Services - 0.3% | |||
T-Mobile U.S., Inc. (a) | 1,851,463 | 268,166 | |
TOTAL COMMUNICATION SERVICES | 15,548,698 | ||
CONSUMER DISCRETIONARY - 10.1% | |||
Automobiles - 0.3% | |||
General Motors Co. | 1,103,594 | 40,480 | |
Harley-Davidson, Inc. | 925,978 | 35,159 | |
Hyundai Motor Co. | 651,600 | 92,366 | |
Rad Power Bikes, Inc. (a)(b)(c) | 2,588,458 | 7,998 | |
Rivian Automotive, Inc. (a) | 352,619 | 5,459 | |
Tesla, Inc. (a) | 230,008 | 47,717 | |
Toyota Motor Corp. | 7,062,223 | 100,534 | |
329,713 | |||
Broadline Retail - 5.5% | |||
Amazon.com, Inc. (a) | 49,935,690 | 5,157,857 | |
Coupang, Inc. Class A (a) | 9,564,602 | 153,034 | |
Dollarama, Inc. | 394,086 | 23,552 | |
MercadoLibre, Inc. (a) | 50,998 | 67,218 | |
5,401,661 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 94,767 | 13,513 | |
Hotels, Restaurants & Leisure - 1.0% | |||
Airbnb, Inc. Class A (a) | 3,521,138 | 438,030 | |
Booking Holdings, Inc. (a) | 22,218 | 58,931 | |
Chipotle Mexican Grill, Inc. (a) | 29,251 | 49,969 | |
Churchill Downs, Inc. | 22,429 | 5,765 | |
Deliveroo PLC Class A (a)(d) | 33,109,362 | 37,372 | |
Doordash, Inc. (a) | 993 | 63 | |
Evolution AB (d) | 114,876 | 15,365 | |
Flutter Entertainment PLC (a) | 56,523 | 10,201 | |
Hilton Worldwide Holdings, Inc. | 1,216,474 | 171,365 | |
Hyatt Hotels Corp. Class A (a) | 101,529 | 11,350 | |
Las Vegas Sands Corp. (a) | 164,306 | 9,439 | |
Marriott International, Inc. Class A | 54,139 | 8,989 | |
McDonald's Corp. | 355,070 | 99,281 | |
Restaurant Brands International, Inc. | 268,980 | 18,057 | |
934,177 | |||
Household Durables - 0.2% | |||
D.R. Horton, Inc. | 122,758 | 11,992 | |
Lennar Corp. Class A | 1,345,450 | 141,420 | |
PulteGroup, Inc. | 19,718 | 1,149 | |
154,561 | |||
Internet & Direct Marketing Retail - 0.0% | |||
Uber Technologies, Inc. (a) | 1,409,193 | 44,671 | |
Leisure Products - 0.0% | |||
Bandai Namco Holdings, Inc. | 189,012 | 4,075 | |
Specialty Retail - 2.5% | |||
Academy Sports & Outdoors, Inc. | 3,485,696 | 227,442 | |
AutoZone, Inc. (a) | 76,488 | 188,019 | |
Dick's Sporting Goods, Inc. | 2,393,401 | 339,600 | |
Fanatics, Inc. Class A (a)(b)(c) | 2,461,391 | 177,491 | |
National Vision Holdings, Inc. (a) | 146,716 | 2,764 | |
O'Reilly Automotive, Inc. (a) | 396,494 | 336,615 | |
The Home Depot, Inc. | 1,622,257 | 478,760 | |
TJX Companies, Inc. | 1,280,941 | 100,375 | |
Ulta Beauty, Inc. (a) | 587,053 | 320,337 | |
Wayfair LLC Class A (a) | 67,457 | 2,316 | |
Williams-Sonoma, Inc. | 1,914,115 | 232,871 | |
2,406,590 | |||
Textiles, Apparel & Luxury Goods - 0.6% | |||
Deckers Outdoor Corp. (a) | 115,000 | 51,698 | |
Dr. Martens Ltd. | 7,505,911 | 13,176 | |
lululemon athletica, Inc. (a) | 90,432 | 32,934 | |
NIKE, Inc. Class B | 1,604,038 | 196,719 | |
On Holding AG (a) | 8,219,226 | 255,043 | |
Tapestry, Inc. | 210,202 | 9,062 | |
558,632 | |||
TOTAL CONSUMER DISCRETIONARY | 9,847,593 | ||
CONSUMER STAPLES - 3.0% | |||
Beverages - 1.1% | |||
Anheuser-Busch InBev SA NV | 1,202,633 | 80,167 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 181,599 | 41,021 | |
Diageo PLC | 684,571 | 30,552 | |
PepsiCo, Inc. | 2,508,200 | 457,245 | |
The Coca-Cola Co. | 7,497,900 | 465,095 | |
1,074,080 | |||
Food & Staples Retailing - 1.3% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 1,327,335 | 66,735 | |
Casey's General Stores, Inc. | 219,905 | 47,601 | |
Costco Wholesale Corp. | 2,267,214 | 1,126,511 | |
Performance Food Group Co. (a) | 214,891 | 12,967 | |
Walmart, Inc. | 987 | 146 | |
1,253,960 | |||
Food Products - 0.2% | |||
Lamb Weston Holdings, Inc. | 437,424 | 45,720 | |
Mondelez International, Inc. | 1,671,682 | 116,550 | |
162,270 | |||
Personal Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 866,471 | 213,550 | |
L'Oreal SA (a) | 375,100 | 167,611 | |
L'Oreal SA | 22,947 | 10,254 | |
Olaplex Holdings, Inc. (a) | 3,155,599 | 13,474 | |
404,889 | |||
TOTAL CONSUMER STAPLES | 2,895,199 | ||
ENERGY - 5.2% | |||
Energy Equipment & Services - 0.0% | |||
Schlumberger Ltd. | 338,848 | 16,637 | |
Oil, Gas & Consumable Fuels - 5.2% | |||
Birchcliff Energy Ltd. (e) | 938,433 | 5,319 | |
Canadian Natural Resources Ltd. | 5,196,681 | 287,577 | |
Cenovus Energy, Inc. (Canada) | 1,877,139 | 32,751 | |
Cheniere Energy, Inc. | 1,581,649 | 249,268 | |
Chevron Corp. | 3,394,634 | 553,868 | |
ConocoPhillips Co. | 7,048,838 | 699,315 | |
Devon Energy Corp. | 2,175,222 | 110,088 | |
Diamondback Energy, Inc. | 838,555 | 113,347 | |
EOG Resources, Inc. | 2,682,520 | 307,497 | |
Equinor ASA | 331,398 | 9,421 | |
Exxon Mobil Corp. | 11,682,763 | 1,281,132 | |
Hess Corp. | 2,947,740 | 390,104 | |
Marathon Petroleum Corp. | 832,700 | 112,273 | |
Occidental Petroleum Corp. | 5,743,221 | 358,549 | |
Phillips 66 Co. | 820,146 | 83,146 | |
Pioneer Natural Resources Co. | 589,369 | 120,373 | |
Reliance Industries Ltd. | 172,039 | 4,893 | |
Tourmaline Oil Corp. | 433,310 | 18,057 | |
Valero Energy Corp. | 2,571,026 | 358,915 | |
5,095,893 | |||
TOTAL ENERGY | 5,112,530 | ||
FINANCIALS - 16.2% | |||
Banks - 2.5% | |||
AIB Group PLC | 3,267,111 | 13,259 | |
Banco Santander SA (Spain) (e) | 12,994,948 | 48,425 | |
Bank of America Corp. | 26,374,433 | 754,309 | |
Bank of Ireland Group PLC | 4,168,307 | 42,149 | |
Citigroup, Inc. | 543,037 | 25,463 | |
East West Bancorp, Inc. | 531,957 | 29,524 | |
JPMorgan Chase & Co. | 5,495,680 | 716,142 | |
Nu Holdings Ltd. (a)(e) | 8,757,177 | 41,684 | |
Royal Bank of Canada (e) | 4,519,831 | 432,252 | |
Starling Bank Ltd. Series D (a)(b)(c) | 26,724,113 | 94,615 | |
The Toronto-Dominion Bank | 1,119,820 | 67,073 | |
Wells Fargo & Co. | 5,387,615 | 201,389 | |
2,466,284 | |||
Capital Markets - 0.7% | |||
BlackRock, Inc. Class A | 7,363 | 4,927 | |
Brookfield Asset Management Ltd. Class A | 54,865 | 1,797 | |
Brookfield Corp. (Canada) Class A | 80,598 | 2,626 | |
Coinbase Global, Inc. (a) | 991 | 67 | |
Goldman Sachs Group, Inc. | 17,106 | 5,596 | |
Morgan Stanley | 6,430,122 | 564,565 | |
MSCI, Inc. | 33,453 | 18,723 | |
S&P Global, Inc. | 27,567 | 9,504 | |
TulCo LLC (a)(b)(c)(f) | 140,771 | 107,228 | |
715,033 | |||
Consumer Finance - 0.1% | |||
American Express Co. | 798,694 | 131,745 | |
Diversified Financial Services - 9.0% | |||
Berkshire Hathaway, Inc. Class A (a)(e) | 18,784 | 8,745,830 | |
Rapyd Financial Network 2016 Ltd. (a)(b)(c) | 340,545 | 24,090 | |
8,769,920 | |||
Financial Services - 1.7% | |||
Adyen BV (a)(d) | 11,694 | 18,634 | |
MasterCard, Inc. Class A | 422,790 | 153,646 | |
Toast, Inc. (a) | 815,678 | 14,478 | |
Visa, Inc. Class A (e) | 6,505,805 | 1,466,799 | |
1,653,557 | |||
Insurance - 2.2% | |||
American International Group, Inc. | 6,442,140 | 324,426 | |
Aon PLC | 78,080 | 24,618 | |
Arch Capital Group Ltd. (a) | 271,729 | 18,442 | |
Arthur J. Gallagher & Co. | 798,618 | 152,784 | |
Brookfield Asset Management Reinsurance Partners Ltd. | 7,546 | 247 | |
Chubb Ltd. | 1,992,702 | 386,943 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 156,915 | 104,358 | |
Hartford Financial Services Group, Inc. | 1,117,222 | 77,859 | |
Intact Financial Corp. | 812,276 | 116,249 | |
Marsh & McLennan Companies, Inc. | 581,086 | 96,780 | |
Progressive Corp. | 3,613,658 | 516,970 | |
The Travelers Companies, Inc. | 1,865,640 | 319,789 | |
2,139,465 | |||
TOTAL FINANCIALS | 15,876,004 | ||
HEALTH CARE - 13.8% | |||
Biotechnology - 3.8% | |||
AbbVie, Inc. | 17,276 | 2,753 | |
Alnylam Pharmaceuticals, Inc. (a) | 444,620 | 89,066 | |
Argenx SE ADR (a) | 214,606 | 79,958 | |
BeiGene Ltd. ADR (a) | 2,501 | 539 | |
Biohaven Ltd. | 24,408 | 333 | |
Galapagos NV sponsored ADR (a) | 1,176,010 | 45,441 | |
Gilead Sciences, Inc. | 1,262,577 | 104,756 | |
Intarcia Therapeutics, Inc. warrants 12/31/24 (a)(c) | 105,983 | 0 | |
Intellia Therapeutics, Inc. (a) | 81,514 | 3,038 | |
Legend Biotech Corp. ADR (a) | 1,126,803 | 54,334 | |
Moderna, Inc. (a) | 187,661 | 28,821 | |
Neurocrine Biosciences, Inc. (a) | 7,220 | 731 | |
Nuvalent, Inc. Class A (a) | 257,925 | 6,729 | |
Regeneron Pharmaceuticals, Inc. (a) | 2,585,286 | 2,124,252 | |
Sarepta Therapeutics, Inc. (a) | 186,599 | 25,719 | |
Seagen, Inc. (a) | 52,646 | 10,659 | |
United Therapeutics Corp. (a) | 561,691 | 125,796 | |
Vertex Pharmaceuticals, Inc. (a) | 3,245,720 | 1,022,629 | |
Zai Lab Ltd. (a)(g) | 6,605,812 | 22,014 | |
3,747,568 | |||
Health Care Equipment & Supplies - 0.6% | |||
Boston Scientific Corp. (a) | 1,824,150 | 91,262 | |
DexCom, Inc. (a) | 241,019 | 28,002 | |
Edwards Lifesciences Corp. (a) | 43,852 | 3,628 | |
GE Healthcare Holding LLC | 1,284,320 | 105,353 | |
Inspire Medical Systems, Inc. (a) | 37,054 | 8,673 | |
Intuitive Surgical, Inc. (a) | 1,108,919 | 283,296 | |
Masimo Corp. (a) | 44,827 | 8,272 | |
Straumann Holding AG | 180,121 | 27,015 | |
Stryker Corp. | 139,907 | 39,939 | |
595,440 | |||
Health Care Providers & Services - 5.0% | |||
23andMe Holding Co. Class A (a)(e) | 4,278,251 | 9,754 | |
agilon health, Inc. (a) | 836,493 | 19,867 | |
AmerisourceBergen Corp. | 146,442 | 23,447 | |
Cardinal Health, Inc. | 311,536 | 23,521 | |
Cigna Group | 148,750 | 38,010 | |
Elevance Health, Inc. | 333,288 | 153,249 | |
HCA Holdings, Inc. | 365,295 | 96,321 | |
Molina Healthcare, Inc. (a) | 18,820 | 5,034 | |
Option Care Health, Inc. (a) | 467,629 | 14,857 | |
P3 Health Partners, Inc. Class A (a) | 1,297,624 | 1,375 | |
UnitedHealth Group, Inc. | 9,409,797 | 4,446,976 | |
4,832,411 | |||
Health Care Technology - 0.0% | |||
Doximity, Inc. (a)(e) | 592,866 | 19,197 | |
Schrodinger, Inc. (a) | 172,742 | 4,548 | |
23,745 | |||
Life Sciences Tools & Services - 1.0% | |||
Danaher Corp. | 1,491,380 | 375,887 | |
Mettler-Toledo International, Inc. (a) | 165,904 | 253,868 | |
Thermo Fisher Scientific, Inc. | 336,352 | 193,863 | |
Veterinary Emergency Group LLC Class A (a)(b)(c)(f) | 1,038,192 | 57,858 | |
Waters Corp. (a) | 94,877 | 29,377 | |
910,853 | |||
Pharmaceuticals - 3.4% | |||
AstraZeneca PLC sponsored ADR | 664,089 | 46,094 | |
Bristol-Myers Squibb Co. | 2,022,689 | 140,193 | |
DICE Therapeutics, Inc. (a) | 748,402 | 21,442 | |
Eli Lilly & Co. | 5,522,847 | 1,896,656 | |
Intra-Cellular Therapies, Inc. (a) | 405,517 | 21,959 | |
Johnson & Johnson | 1,409,758 | 218,512 | |
Merck & Co., Inc. | 6,572,869 | 699,288 | |
Novo Nordisk A/S Series B | 262,787 | 41,736 | |
Nuvation Bio, Inc. (a) | 8,718,184 | 14,472 | |
Royalty Pharma PLC | 6,257,711 | 225,465 | |
Structure Therapeutics, Inc. ADR | 362,530 | 8,625 | |
Ventyx Biosciences, Inc. (a) | 24,123 | 808 | |
Verona Pharma PLC ADR (a) | 361,012 | 7,249 | |
Zoetis, Inc. Class A | 59,702 | 9,937 | |
3,352,436 | |||
TOTAL HEALTH CARE | 13,462,453 | ||
INDUSTRIALS - 5.2% | |||
Aerospace & Defense - 1.5% | |||
Lockheed Martin Corp. | 1,128,961 | 533,694 | |
Northrop Grumman Corp. | 1,295,745 | 598,271 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(b)(c) | 3,585,070 | 276,050 | |
Class C (a)(b)(c) | 129,910 | 10,003 | |
The Boeing Co. (a) | 89,107 | 18,929 | |
TransDigm Group, Inc. | 87,753 | 64,678 | |
1,501,625 | |||
Air Freight & Logistics - 0.8% | |||
United Parcel Service, Inc. Class B | 4,088,326 | 793,094 | |
Zipline International, Inc. (a)(b)(c) | 515,816 | 9,027 | |
802,121 | |||
Airlines - 0.0% | |||
Ryanair Holdings PLC sponsored ADR (a) | 335,740 | 31,657 | |
Building Products - 0.1% | |||
Toto Ltd. | 1,152,901 | 38,626 | |
Trane Technologies PLC | 265,244 | 48,800 | |
87,426 | |||
Commercial Services & Supplies - 0.2% | |||
Aurora Innovation, Inc. (a) | 1,395,699 | 1,940 | |
Cintas Corp. | 125,555 | 58,092 | |
Clean Harbors, Inc. (a) | 552,546 | 78,771 | |
Clean TeQ Water Pty Ltd. (a)(e) | 2,088,102 | 509 | |
GFL Environmental, Inc. | 314,806 | 10,855 | |
Waste Connections, Inc. (United States) | 70,089 | 9,747 | |
159,914 | |||
Construction & Engineering - 0.0% | |||
Larsen & Toubro Ltd. | 373,200 | 9,853 | |
Electrical Equipment - 0.3% | |||
Acuity Brands, Inc. | 59,503 | 10,873 | |
AMETEK, Inc. | 67,453 | 9,803 | |
Eaton Corp. PLC | 906,577 | 155,333 | |
Hubbell, Inc. Class B | 433,485 | 105,471 | |
nVent Electric PLC | 707,946 | 30,399 | |
311,879 | |||
Ground Transportation - 0.3% | |||
J.B. Hunt Transport Services, Inc. | 677,420 | 118,860 | |
Old Dominion Freight Lines, Inc. | 388,643 | 132,465 | |
Vamos Locacao de Caminhoes Maquinas e Equipamentos SA | 132,800 | 350 | |
251,675 | |||
Industrial Conglomerates - 0.6% | |||
General Electric Co. | 5,836,597 | 557,979 | |
Machinery - 0.9% | |||
Caterpillar, Inc. | 414,562 | 94,868 | |
Crane Holdings Co. | 67,193 | 7,626 | |
Deere & Co. | 901,625 | 372,263 | |
Fortive Corp. | 975,154 | 66,476 | |
Indutrade AB | 401,219 | 8,508 | |
PACCAR, Inc. | 3,609,856 | 264,241 | |
Parker Hannifin Corp. | 138,705 | 46,620 | |
860,602 | |||
Professional Services - 0.0% | |||
Verisk Analytics, Inc. | 51,054 | 9,795 | |
Road & Rail - 0.2% | |||
Canadian Pacific Railway Ltd. | 2,835,229 | 218,322 | |
Trading Companies & Distributors - 0.3% | |||
United Rentals, Inc. | 147,139 | 58,232 | |
W.W. Grainger, Inc. | 318,826 | 219,611 | |
277,843 | |||
TOTAL INDUSTRIALS | 5,080,691 | ||
INFORMATION TECHNOLOGY - 22.4% | |||
Communications Equipment - 0.4% | |||
Arista Networks, Inc. (a) | 1,963,115 | 329,528 | |
Cisco Systems, Inc. | 1,138,453 | 59,513 | |
Motorola Solutions, Inc. | 107,653 | 30,803 | |
419,844 | |||
Electronic Equipment & Components - 1.9% | |||
Amphenol Corp. Class A | 21,287,543 | 1,739,618 | |
CDW Corp. | 523,240 | 101,974 | |
Jabil, Inc. | 419,475 | 36,981 | |
1,878,573 | |||
IT Services - 0.9% | |||
Accenture PLC Class A | 2,644,610 | 755,856 | |
ASAC II LP (a)(b)(c) | 39,494,500 | 6,635 | |
Cloudflare, Inc. (a) | 993,654 | 61,269 | |
Endava PLC ADR (a) | 13,321 | 895 | |
Gartner, Inc. (a) | 90,000 | 29,319 | |
Okta, Inc. (a) | 112,021 | 9,661 | |
Shopify, Inc. Class A (a) | 320,122 | 15,349 | |
Snowflake, Inc. (a) | 61,092 | 9,426 | |
Twilio, Inc. Class A (a) | 125,862 | 8,386 | |
X Holdings Corp. Class A (c) | 534,690 | 19,538 | |
916,334 | |||
Semiconductors & Semiconductor Equipment - 5.9% | |||
Advanced Micro Devices, Inc. (a) | 6,615,865 | 648,421 | |
Allegro MicroSystems LLC (a) | 643,335 | 30,874 | |
Analog Devices, Inc. | 1,822,917 | 359,516 | |
Broadcom, Inc. | 204,112 | 130,946 | |
First Solar, Inc. (a) | 481,174 | 104,655 | |
Lattice Semiconductor Corp. (a) | 1,456,473 | 139,093 | |
Marvell Technology, Inc. | 171,523 | 7,427 | |
Monolithic Power Systems, Inc. | 70,772 | 35,424 | |
NVIDIA Corp. | 9,883,859 | 2,745,440 | |
NXP Semiconductors NV | 50,762 | 9,466 | |
onsemi (a) | 5,063,737 | 416,847 | |
Qualcomm, Inc. | 6,866,852 | 876,073 | |
Synaptics, Inc. (a) | 922,069 | 102,488 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,313,107 | 122,145 | |
5,728,815 | |||
Software - 8.7% | |||
Adobe, Inc. (a) | 1,062,507 | 409,458 | |
ANSYS, Inc. (a) | 17,042 | 5,672 | |
Atlassian Corp. PLC (a) | 237,198 | 40,601 | |
Cadence Design Systems, Inc. (a) | 1,845,799 | 387,784 | |
Check Point Software Technologies Ltd. (a) | 418,793 | 54,443 | |
Clear Secure, Inc. (e) | 1,337,462 | 35,001 | |
Dynatrace, Inc. (a) | 823,426 | 34,831 | |
Fair Isaac Corp. (a) | 2,041 | 1,434 | |
Fortinet, Inc. (a) | 2,148,994 | 142,822 | |
HubSpot, Inc. (a) | 26,026 | 11,159 | |
Intuit, Inc. | 58,559 | 26,107 | |
Microsoft Corp. | 21,806,452 | 6,286,800 | |
Palo Alto Networks, Inc. (a) | 348,411 | 69,592 | |
Paycom Software, Inc. (a) | 29,801 | 9,060 | |
Salesforce, Inc. (a) | 4,171,367 | 833,356 | |
Samsara, Inc. (a)(e) | 86,375 | 1,703 | |
Stripe, Inc. Class B (a)(b)(c) | 455,600 | 9,171 | |
Synopsys, Inc. (a) | 193,672 | 74,806 | |
Tanium, Inc. Class B (a)(b)(c) | 6,742,751 | 51,784 | |
ZenPayroll, Inc. (a)(b)(c) | 289,200 | 8,419 | |
Zoom Video Communications, Inc. Class A (a) | 115,026 | 8,494 | |
8,502,497 | |||
Technology Hardware, Storage & Peripherals - 4.6% | |||
Apple, Inc. | 27,467,665 | 4,529,418 | |
Dell Technologies, Inc. | 181,850 | 7,312 | |
4,536,730 | |||
TOTAL INFORMATION TECHNOLOGY | 21,982,793 | ||
MATERIALS - 3.2% | |||
Chemicals - 0.4% | |||
Air Products & Chemicals, Inc. | 291,308 | 83,667 | |
Albemarle Corp. | 366,262 | 80,959 | |
CF Industries Holdings, Inc. | 251,547 | 18,235 | |
Corteva, Inc. | 1,285,372 | 77,521 | |
Linde PLC | 85,560 | 30,411 | |
Sherwin-Williams Co. | 43,336 | 9,741 | |
Westlake Corp. | 577,444 | 66,972 | |
367,506 | |||
Metals & Mining - 2.8% | |||
B2Gold Corp. | 42,743,898 | 168,888 | |
Barrick Gold Corp. (Canada) | 1,251,992 | 23,243 | |
Cleveland-Cliffs, Inc. (a) | 2,737,945 | 50,187 | |
Franco-Nevada Corp. | 3,980,064 | 580,533 | |
Freeport-McMoRan, Inc. | 11,171,007 | 457,006 | |
Glencore PLC | 6,571,909 | 37,816 | |
Ivanhoe Electric, Inc. (g) | 5,343,015 | 64,918 | |
Ivanhoe Mines Ltd. (a) | 40,204,383 | 363,223 | |
Ivanhoe Mines Ltd. (a)(d) | 11,924,516 | 107,731 | |
Newcrest Mining Ltd. | 577,422 | 10,307 | |
Novagold Resources, Inc. (a) | 6,999,895 | 43,351 | |
Nucor Corp. | 3,346,519 | 516,937 | |
POSCO sponsored ADR (e) | 97,978 | 6,828 | |
Sabina Gold & Silver Corp. (a) | 7,133,486 | 10,820 | |
Steel Dynamics, Inc. | 2,499,820 | 282,630 | |
Sunrise Energy Metals Ltd. (a) | 2,678,495 | 3,401 | |
Wheaton Precious Metals Corp. | 1,016,062 | 48,935 | |
2,776,754 | |||
TOTAL MATERIALS | 3,144,260 | ||
REAL ESTATE - 0.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Equity Commonwealth | 1,351,853 | 27,997 | |
UTILITIES - 0.2% | |||
Electric Utilities - 0.2% | |||
Constellation Energy Corp. | 1,596,320 | 125,311 | |
PG&E Corp. (a) | 6,037,069 | 97,619 | |
222,930 | |||
TOTAL COMMON STOCKS (Cost $39,443,640) | 93,201,148 | ||
Preferred Stocks - 1.6% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 1.5% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 653,587 | 138,371 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 165,300 | 6,298 | |
Series F(a)(b)(c) | 878,650 | 33,477 | |
178,146 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 337,463 | 1,043 | |
Series C(a)(b)(c) | 1,327,879 | 4,103 | |
Series D(a)(b)(c) | 2,329,100 | 7,197 | |
12,343 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 15,500 | 5,229 | |
TOTAL CONSUMER DISCRETIONARY | 17,572 | ||
CONSUMER STAPLES - 0.0% | |||
Food & Staples Retailing - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 55,517 | 5,417 | |
Series H(a)(b)(c) | 69,898 | 6,820 | |
12,237 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. Series C1 (a)(b)(c) | 226,491 | 4,045 | |
TOTAL CONSUMER STAPLES | 16,282 | ||
FINANCIALS - 0.0% | |||
Diversified Financial Services - 0.0% | |||
Acrisure Holdings, Inc. Series B (a)(b)(c) | 379,681 | 9,302 | |
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (b)(c) | 637,828 | 18,184 | |
TOTAL FINANCIALS | 27,486 | ||
HEALTH CARE - 0.1% | |||
Biotechnology - 0.0% | |||
ElevateBio LLC Series C (a)(b)(c) | 3,224,900 | 9,546 | |
Intarcia Therapeutics, Inc. Series CC (a)(b)(c) | 2,100,446 | 0 | |
9,546 | |||
Health Care Providers & Services - 0.1% | |||
Get Heal, Inc. Series B (a)(b)(c) | 35,877,127 | 39 | |
Lyra Health, Inc.: | |||
Series E(a)(b)(c) | 1,478,100 | 24,714 | |
Series F(a)(b)(c) | 69,520 | 1,162 | |
Somatus, Inc. Series E (a)(b)(c) | 15,253 | 12,777 | |
38,692 | |||
TOTAL HEALTH CARE | 48,238 | ||
INDUSTRIALS - 0.9% | |||
Aerospace & Defense - 0.9% | |||
Relativity Space, Inc.: | |||
Series D(a)(b)(c) | 1,673,085 | 26,669 | |
Series E(a)(b)(c) | 436,722 | 8,079 | |
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 558,215 | 429,826 | |
Series H(a)(b)(c) | 120,282 | 92,617 | |
Series N(a)(b)(c) | 428,458 | 329,913 | |
887,104 | |||
Air Freight & Logistics - 0.0% | |||
Zipline International, Inc. Series E (a)(b)(c) | 1,317,166 | 23,050 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series B, 6.00% (b)(c) | 259,581 | 19,113 | |
TOTAL INDUSTRIALS | 929,267 | ||
INFORMATION TECHNOLOGY - 0.2% | |||
Software - 0.2% | |||
ASAPP, Inc. Series C (a)(b)(c) | 1,300,504 | 4,929 | |
Carbon, Inc.: | |||
Series D(a)(b)(c) | 915,425 | 8,834 | |
Series E(a)(b)(c) | 81,735 | 941 | |
Delphix Corp. Series D (a)(b)(c) | 3,712,687 | 16,856 | |
Nuro, Inc.: | |||
Series C(a)(b)(c) | 3,293,118 | 23,710 | |
Series D(a)(b)(c) | 643,113 | 4,630 | |
Stripe, Inc.: | |||
Series H(a)(b)(c) | 190,300 | 3,831 | |
Series I(b)(c) | 1,717,816 | 34,580 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 200,200 | 11,347 | |
ZenPayroll, Inc.: | |||
Series D(a)(b)(c) | 2,436,137 | 70,916 | |
Series E(a)(b)(c) | 167,099 | 4,864 | |
185,438 | |||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
High Power Exploration, Inc. Series A (a)(b)(c) | 14,154,085 | 59,023 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,461,452 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Petroleo Brasileiro SA - Petrobras sponsored ADR | 9,046,225 | 94,352 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (b)(c) | 1,059,433 | 30,204 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 124,556 | ||
TOTAL PREFERRED STOCKS (Cost $1,037,436) | 1,586,008 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/23 (b)(c)(i) | 9,273 | 0 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(j) | 11,130 | 10,607 | |
TOTAL PREFERRED SECURITIES (Cost $20,403) | 10,607 | ||
Money Market Funds - 3.6% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 4.86% (k) | 3,199,579,693 | 3,200,220 | |
Fidelity Securities Lending Cash Central Fund 4.87% (k)(l) | 372,223,134 | 372,260 | |
TOTAL MONEY MARKET FUNDS (Cost $3,572,479) | 3,572,480 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $44,073,958) | 98,370,243 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (426,311) |
NET ASSETS - 100.0% | 97,943,932 |
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 $2,434,868,000 or 2.5% of net assets. |
(c) | Level 3 security |
(d) | 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 $179,102,000 or 0.2% of net assets. |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Affiliated company |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Non-income producing - Security is in default. |
(j) | Security is perpetual in nature with no stated maturity date. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(l) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Acrisure Holdings, Inc. Series B | 3/22/21 | 6,918 |
ASAC II LP | 10/10/13 | 3,041 |
ASAPP, Inc. Series C | 4/30/21 | 8,580 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 26,781 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 13,646 |
ByteDance Ltd. Series E1 | 11/18/20 | 71,616 |
Carbon, Inc. Series D | 12/15/17 | 21,376 |
Carbon, Inc. Series E | 3/22/19 | 2,288 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 17,195 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 26,878 |
Delphix Corp. Series D | 7/10/15 | 33,414 |
Discord, Inc. Series I | 9/15/21 | 8,535 |
ElevateBio LLC Series C | 3/09/21 | 13,528 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 71,128 |
Fanatics, Inc. Class A | 8/13/20 - 12/15/21 | 82,369 |
Get Heal, Inc. Series B | 1/27/23 | 112 |
GoBrands, Inc. Series G | 3/02/21 | 13,864 |
GoBrands, Inc. Series H | 7/22/21 | 27,155 |
High Power Exploration, Inc. Series A | 11/15/19 - 3/04/21 | 74,592 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 28,629 |
Intarcia Therapeutics, Inc. 6% 7/18/23 | 1/03/20 | 9,273 |
Lyra Health, Inc. Series E | 1/14/21 | 13,534 |
Lyra Health, Inc. Series F | 6/04/21 | 1,092 |
Nuro, Inc. Series C | 10/30/20 | 42,990 |
Nuro, Inc. Series D | 10/29/21 | 13,406 |
Rad Power Bikes, Inc. | 1/21/21 | 12,486 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 1,628 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 6,405 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 22,322 |
Rapyd Financial Network 2016 Ltd. | 3/30/21 | 25,000 |
Reddit, Inc. Series E | 5/18/21 | 7,021 |
Reddit, Inc. Series F | 8/11/21 | 54,296 |
Relativity Space, Inc. Series D | 11/20/20 | 24,974 |
Relativity Space, Inc. Series E | 5/27/21 | 9,973 |
Somatus, Inc. Series E | 1/31/22 | 13,310 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 5/24/22 | 60,159 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 1,754 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 43,239 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 16,238 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 115,684 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 52,246 |
Stripe, Inc. Class B | 5/18/21 | 18,282 |
Stripe, Inc. Series H | 3/15/21 | 7,636 |
Stripe, Inc. Series I | 3/20/23 | 34,587 |
Tanium, Inc. Class B | 4/21/17 - 9/18/20 | 57,901 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 11,903 |
Tenstorrent, Inc. 0% | 4/23/21 | 11,130 |
TulCo LLC | 8/24/17 - 9/07/18 | 50,563 |
Veterinary Emergency Group LLC Class A | 9/16/21 - 12/16/22 | 39,973 |
ZenPayroll, Inc. | 10/01/21 | 8,326 |
ZenPayroll, Inc. Series D | 7/16/19 | 32,431 |
ZenPayroll, Inc. Series E | 7/13/21 | 5,079 |
Zipline International, Inc. | 10/12/21 | 18,569 |
Zipline International, Inc. Series E | 12/21/20 | 42,978 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 4.86% | 2,285,580 | 3,030,912 | 2,116,272 | 25,047 | - | - | 3,200,220 | 8.1% |
Fidelity Securities Lending Cash Central Fund 4.87% | 710,703 | 1,111,772 | 1,450,215 | 219 | - | - | 372,260 | 1.2% |
Total | 2,996,283 | 4,142,684 | 3,566,487 | 25,266 | - | - | 3,572,480 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.
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 ($) |
Ivanhoe Electric, Inc. | 65,377 | - | 476 | - | 382 | (365) | 64,918 |
P3 Health Partners, Inc. | 5,033 | - | - | - | - | 22,321 | - |
Zai Lab Ltd. | 20,591 | - | 167 | - | 24 | 1,566 | 22,014 |
Total | 91,001 | - | 643 | - | 406 | 23,522 | 86,932 |
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Preferred Securities are valued by pricing services 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 services. 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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