| Common Stocks - 98.4% | | | |
| | | Shares | Value |
| COMMUNICATION SERVICES - 11.9% | | | |
| Diversified Telecommunication Services - 0.1% | | | |
| Verizon Communications, Inc. | | 31,900 | $1,958,660 |
| Entertainment - 2.3% | | | |
| Activision Blizzard, Inc. | | 249,700 | 14,837,174 |
| Electronic Arts, Inc. (a) | | 23,700 | 2,547,987 |
| The Walt Disney Co. | | 176,900 | 25,585,047 |
| WME Entertainment Parent, LLC Class A (a)(b)(c)(d) | | 2,618,206 | 7,383,341 |
| | | | 50,353,549 |
| Interactive Media & Services - 8.1% | | | |
| Alphabet, Inc. Class C (a) | | 83,900 | 112,175,978 |
| Facebook, Inc. Class A (a) | | 321,200 | 65,926,300 |
| | | | 178,102,278 |
| Media - 1.0% | | | |
| Comcast Corp. Class A | | 508,700 | 22,876,239 |
| Wireless Telecommunication Services - 0.4% | | | |
| T-Mobile U.S., Inc. (a) | | 116,300 | 9,120,246 |
|
| TOTAL COMMUNICATION SERVICES | | | 262,410,972 |
|
| CONSUMER DISCRETIONARY - 10.5% | | | |
| Diversified Consumer Services - 0.0% | | | |
| Arco Platform Ltd. Class A (a) | | 10,768 | 475,946 |
| Hotels, Restaurants & Leisure - 1.1% | | | |
| Churchill Downs, Inc. | | 30,800 | 4,225,760 |
| Compass Group PLC | | 218,700 | 5,481,011 |
| McDonald's Corp. | | 73,900 | 14,603,379 |
| Penn National Gaming, Inc. (a) | | 28,800 | 736,128 |
| | | | 25,046,278 |
| Household Durables - 0.2% | | | |
| D.R. Horton, Inc. | | 71,200 | 3,755,800 |
| Internet & Direct Marketing Retail - 4.3% | | | |
| Alibaba Group Holding Ltd. sponsored ADR (a) | | 56,100 | 11,898,810 |
| Amazon.com, Inc. (a) | | 39,000 | 72,065,760 |
| The Booking Holdings, Inc. (a) | | 4,950 | 10,165,964 |
| | | | 94,130,534 |
| Leisure Products - 0.1% | | | |
| New Academy Holding Co. LLC unit (a)(c)(d)(e) | | 60,000 | 1,936,800 |
| Multiline Retail - 1.1% | | | |
| Dollar General Corp. | | 76,200 | 11,885,676 |
| Dollar Tree, Inc. (a) | | 132,400 | 12,452,220 |
| | | | 24,337,896 |
| Specialty Retail - 2.1% | | | |
| Lowe's Companies, Inc. | | 117,200 | 14,035,872 |
| The Home Depot, Inc. | | 82,200 | 17,950,836 |
| TJX Companies, Inc. | | 248,200 | 15,155,092 |
| | | | 47,141,800 |
| Textiles, Apparel & Luxury Goods - 1.6% | | | |
| LVMH Moet Hennessy Louis Vuitton SE | | 29,760 | 13,866,789 |
| Moncler SpA | | 6,700 | 301,142 |
| NIKE, Inc. Class B | | 177,100 | 17,942,001 |
| Tapestry, Inc. | | 28,900 | 779,433 |
| Tory Burch LLC (a)(b)(c)(d) | | 28,846 | 1,997,278 |
| | | | 34,886,643 |
|
| TOTAL CONSUMER DISCRETIONARY | | | 231,711,697 |
|
| CONSUMER STAPLES - 4.8% | | | |
| Beverages - 1.6% | | | |
| Keurig Dr. Pepper, Inc. | | 118,600 | 3,433,470 |
| Monster Beverage Corp. (a) | | 102,300 | 6,501,165 |
| PepsiCo, Inc. | | 18,600 | 2,542,062 |
| The Coca-Cola Co. | | 398,100 | 22,034,835 |
| | | | 34,511,532 |
| Food & Staples Retailing - 2.1% | | | |
| Costco Wholesale Corp. | | 41,500 | 12,197,680 |
| Kroger Co. | | 83,900 | 2,432,261 |
| U.S. Foods Holding Corp. (a) | | 48,100 | 2,014,909 |
| Walmart, Inc. | | 247,200 | 29,377,248 |
| | | | 46,022,098 |
| Food Products - 0.4% | | | |
| Mondelez International, Inc. | | 173,500 | 9,556,380 |
| Personal Products - 0.2% | | | |
| Coty, Inc. Class A | | 31,800 | 357,750 |
| Estee Lauder Companies, Inc. Class A | | 17,200 | 3,552,488 |
| | | | 3,910,238 |
| Tobacco - 0.5% | | | |
| Altria Group, Inc. | | 233,300 | 11,644,003 |
|
| TOTAL CONSUMER STAPLES | | | 105,644,251 |
|
| ENERGY - 2.2% | | | |
| Oil, Gas & Consumable Fuels - 2.2% | | | |
| BP PLC | | 4,800 | 30,196 |
| ConocoPhillips Co. | | 148,700 | 9,669,961 |
| Hess Corp. | | 323,800 | 21,633,078 |
| Pioneer Natural Resources Co. | | 73,731 | 11,160,661 |
| Reliance Industries Ltd. | | 272,156 | 5,774,757 |
| | | | 48,268,653 |
| FINANCIALS - 15.3% | | | |
| Banks - 8.2% | | | |
| Bank of America Corp. | | 1,614,200 | 56,852,124 |
| BB&T Corp. | | 70,577 | 3,974,897 |
| Citigroup, Inc. | | 131,900 | 10,537,491 |
| HDFC Bank Ltd. sponsored ADR | | 37,000 | 2,344,690 |
| JPMorgan Chase & Co. | | 481,600 | 67,135,040 |
| M&T Bank Corp. | | 24,600 | 4,175,850 |
| Wells Fargo & Co. | | 646,100 | 34,760,180 |
| | | | 179,780,272 |
| Capital Markets - 4.2% | | | |
| CME Group, Inc. | | 72,300 | 14,512,056 |
| Intercontinental Exchange, Inc. | | 86,800 | 8,033,340 |
| London Stock Exchange Group PLC | | 99,400 | 10,215,545 |
| Moody's Corp. | | 51,000 | 12,107,910 |
| Morningstar, Inc. | | 45,414 | 6,871,592 |
| MSCI, Inc. | | 47,100 | 12,160,278 |
| S&P Global, Inc. | | 60,700 | 16,574,135 |
| The Blackstone Group LP | | 140,100 | 7,837,194 |
| Tradeweb Markets, Inc. Class A | | 69,000 | 3,198,150 |
| XP, Inc. Class A (a) | | 33,400 | 1,286,568 |
| | | | 92,796,768 |
| Consumer Finance - 0.9% | | | |
| American Express Co. | | 161,600 | 20,117,584 |
| Diversified Financial Services - 1.8% | | | |
| Berkshire Hathaway, Inc. Class B (a) | | 124,500 | 28,199,250 |
| KKR Renaissance Co-Invest LP unit (a)(c) | | 24,163 | 10,736,211 |
| | | | 38,935,461 |
| Insurance - 0.2% | | | |
| American International Group, Inc. | | 91,600 | 4,701,828 |
|
| TOTAL FINANCIALS | | | 336,331,913 |
|
| HEALTH CARE - 15.1% | | | |
| Biotechnology - 3.5% | | | |
| AbbVie, Inc. | | 198,200 | 17,548,628 |
| Acceleron Pharma, Inc. (a) | | 33,800 | 1,792,076 |
| Amgen, Inc. | | 148,900 | 35,895,323 |
| Neurocrine Biosciences, Inc. (a) | | 9,300 | 999,657 |
| Regeneron Pharmaceuticals, Inc. (a) | | 5,300 | 1,990,044 |
| Vertex Pharmaceuticals, Inc. (a) | | 80,700 | 17,669,265 |
| | | | 75,894,993 |
| Health Care Equipment & Supplies - 5.2% | | | |
| Becton, Dickinson & Co. | | 63,300 | 17,215,701 |
| Boston Scientific Corp. (a) | | 496,204 | 22,438,345 |
| Danaher Corp. | | 172,000 | 26,398,560 |
| DexCom, Inc. (a) | | 17,800 | 3,893,572 |
| Edwards Lifesciences Corp. (a) | | 21,800 | 5,085,722 |
| Hologic, Inc. (a) | | 104,550 | 5,458,556 |
| Intuitive Surgical, Inc. (a) | | 29,600 | 17,498,040 |
| Masimo Corp. (a) | | 16,400 | 2,592,184 |
| Stryker Corp. | | 70,600 | 14,821,764 |
| | | | 115,402,444 |
| Health Care Providers & Services - 2.8% | | | |
| Centene Corp. (a) | | 120,100 | 7,550,687 |
| Cigna Corp. | | 77,200 | 15,786,628 |
| Humana, Inc. | | 22,100 | 8,100,092 |
| UnitedHealth Group, Inc. | | 102,600 | 30,162,348 |
| | | | 61,599,755 |
| Life Sciences Tools & Services - 1.4% | | | |
| 10X Genomics, Inc. (a)(f) | | 23,700 | 1,807,125 |
| Bruker Corp. | | 198,851 | 10,135,435 |
| Thermo Fisher Scientific, Inc. | | 58,400 | 18,972,408 |
| | | | 30,914,968 |
| Pharmaceuticals - 2.2% | | | |
| AstraZeneca PLC sponsored ADR | | 351,800 | 17,540,748 |
| Bristol-Myers Squibb Co. | | 38,000 | 2,439,220 |
| Eli Lilly & Co. | | 14,400 | 1,892,592 |
| Roche Holding AG (participation certificate) | | 14,750 | 4,793,792 |
| Sanofi SA sponsored ADR | | 120,000 | 6,024,000 |
| Zoetis, Inc. Class A | | 114,400 | 15,140,840 |
| | | | 47,831,192 |
|
| TOTAL HEALTH CARE | | | 331,643,352 |
|
| INDUSTRIALS - 8.6% | | | |
| Aerospace & Defense - 1.7% | | | |
| Harris Corp. | | 7,800 | 1,543,386 |
| Northrop Grumman Corp. | | 76,300 | 26,244,911 |
| TransDigm Group, Inc. | | 17,700 | 9,912,000 |
| | | | 37,700,297 |
| Air Freight & Logistics - 0.4% | | | |
| United Parcel Service, Inc. Class B | | 66,600 | 7,796,196 |
| Airlines - 0.3% | | | |
| Delta Air Lines, Inc. | | 63,200 | 3,695,936 |
| Southwest Airlines Co. | | 60,600 | 3,271,188 |
| | | | 6,967,124 |
| Building Products - 0.1% | | | |
| Owens Corning | | 30,800 | 2,005,696 |
| Commercial Services & Supplies - 0.2% | | | |
| Copart, Inc. (a) | | 8,100 | 736,614 |
| Edenred SA | | 84,700 | 4,379,868 |
| | | | 5,116,482 |
| Construction & Engineering - 0.3% | | | |
| Jacobs Engineering Group, Inc. | | 76,600 | 6,880,978 |
| Electrical Equipment - 1.1% | | | |
| AMETEK, Inc. | | 171,600 | 17,115,384 |
| Generac Holdings, Inc. (a) | | 32,500 | 3,269,175 |
| Rockwell Automation, Inc. | | 18,800 | 3,810,196 |
| | | | 24,194,755 |
| Industrial Conglomerates - 0.9% | | | |
| General Electric Co. | | 1,807,400 | 20,170,584 |
| Machinery - 1.1% | | | |
| Caterpillar, Inc. | | 57,100 | 8,432,528 |
| Ingersoll-Rand PLC | | 48,100 | 6,393,452 |
| ITT, Inc. | | 18,400 | 1,359,944 |
| PACCAR, Inc. | | 40,600 | 3,211,460 |
| Parker Hannifin Corp. | | 25,100 | 5,166,082 |
| | | | 24,563,466 |
| Professional Services - 0.8% | | | |
| Experian PLC | | 116,000 | 3,932,340 |
| IHS Markit Ltd. (a) | | 174,500 | 13,148,575 |
| | | | 17,080,915 |
| Road & Rail - 1.7% | | | |
| Lyft, Inc. | | 289,300 | 12,445,686 |
| Uber Technologies, Inc. | | 331,400 | 9,855,836 |
| Union Pacific Corp. | | 75,600 | 13,667,724 |
| | | | 35,969,246 |
|
| TOTAL INDUSTRIALS | | | 188,445,739 |
|
| INFORMATION TECHNOLOGY - 23.8% | | | |
| Communications Equipment - 0.2% | | | |
| Cisco Systems, Inc. | | 108,300 | 5,194,068 |
| IT Services - 6.1% | | | |
| Accenture PLC Class A | | 89,900 | 18,930,243 |
| Automatic Data Processing, Inc. | | 25,700 | 4,381,850 |
| Black Knight, Inc. (a) | | 129,800 | 8,369,504 |
| Fidelity National Information Services, Inc. | | 179,200 | 24,924,928 |
| Global Payments, Inc. | | 32,300 | 5,896,688 |
| MasterCard, Inc. Class A | | 108,800 | 32,486,592 |
| MongoDB, Inc. Class A (a) | | 20,382 | 2,682,475 |
| Visa, Inc. Class A | | 192,400 | 36,151,960 |
| | | | 133,824,240 |
| Semiconductors & Semiconductor Equipment - 6.3% | | | |
| Advanced Micro Devices, Inc. (a) | | 157,700 | 7,232,122 |
| Analog Devices, Inc. | | 122,500 | 14,557,900 |
| ASML Holding NV | | 61,800 | 18,289,092 |
| Broadcom, Inc. | | 14,600 | 4,613,892 |
| Lam Research Corp. | | 49,000 | 14,327,600 |
| Marvell Technology Group Ltd. | | 416,844 | 11,071,377 |
| Micron Technology, Inc. (a) | | 257,700 | 13,859,106 |
| NVIDIA Corp. | | 99,900 | 23,506,470 |
| NXP Semiconductors NV | | 61,700 | 7,851,942 |
| Qualcomm, Inc. | | 222,600 | 19,639,998 |
| Xilinx, Inc. | | 30,600 | 2,991,762 |
| | | | 137,941,261 |
| Software - 7.7% | | | |
| Adobe, Inc. (a) | | 89,700 | 29,583,957 |
| Cloudflare, Inc. | | 37,746 | 611,749 |
| HubSpot, Inc. (a) | | 8,700 | 1,378,950 |
| Microsoft Corp. | | 770,700 | 121,539,387 |
| Salesforce.com, Inc. (a) | | 94,400 | 15,353,216 |
| Workday, Inc. Class A (a) | | 10,500 | 1,726,725 |
| | | | 170,193,984 |
| Technology Hardware, Storage & Peripherals - 3.5% | | | |
| Apple, Inc. | | 263,900 | 77,494,235 |
|
| TOTAL INFORMATION TECHNOLOGY | | | 524,647,788 |
|
| MATERIALS - 2.9% | | | |
| Chemicals - 1.7% | | | |
| Air Products & Chemicals, Inc. | | 34,900 | 8,201,151 |
| CF Industries Holdings, Inc. | | 157,800 | 7,533,372 |
| Linde PLC | | 55,000 | 11,709,500 |
| Sherwin-Williams Co. | | 16,100 | 9,394,994 |
| | | | 36,839,017 |
| Containers & Packaging - 0.5% | | | |
| Avery Dennison Corp. | | 91,800 | 12,009,276 |
| Metals & Mining - 0.7% | | | |
| Barrick Gold Corp. | | 775,614 | 14,418,664 |
| Newmont Goldcorp Corp. | | 9,600 | 417,120 |
| | | | 14,835,784 |
|
| TOTAL MATERIALS | | | 63,684,077 |
|
| REAL ESTATE - 2.8% | | | |
| Equity Real Estate Investment Trusts (REITs) - 2.8% | | | |
| American Tower Corp. | | 131,200 | 30,152,384 |
| Crown Castle International Corp. | | 160,000 | 22,744,000 |
| Equinix, Inc. | | 10,800 | 6,303,960 |
| Prologis, Inc. | | 26,500 | 2,362,210 |
| | | | 61,562,554 |
| UTILITIES - 0.5% | | | |
| Electric Utilities - 0.4% | | | |
| NextEra Energy, Inc. | | 31,800 | 7,700,688 |
| Independent Power and Renewable Electricity Producers - 0.1% | | | |
| Vistra Energy Corp. | | 102,800 | 2,363,372 |
|
| TOTAL UTILITIES | | | 10,064,060 |
|
| TOTAL COMMON STOCKS | | | |
| (Cost $1,559,268,060) | | | 2,164,415,056 |
|
| Convertible Preferred Stocks - 0.1% | | | |
| CONSUMER DISCRETIONARY - 0.1% | | | |
| Hotels, Restaurants & Leisure - 0.1% | | | |
| Topgolf International, Inc. Series F (a)(c)(d) | | | |
| (Cost $1,088,005) | | 78,650 | 1,127,055 |
|
| Money Market Funds - 1.3% | | | |
| Fidelity Cash Central Fund 1.58% (g) | | 27,398,745 | 27,404,225 |
| Fidelity Securities Lending Cash Central Fund 1.58% (g)(h) | | 1,838,704 | 1,838,888 |
| TOTAL MONEY MARKET FUNDS | | | |
| (Cost $29,243,113) | | | 29,243,113 |
| TOTAL INVESTMENT IN SECURITIES - 99.8% | | | |
| (Cost $1,589,599,178) | | | 2,194,785,224 |
| NET OTHER ASSETS (LIABILITIES) - 0.2% | | | 4,736,992 |
| NET ASSETS - 100% | | | $2,199,522,216 |
(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 $23,180,685 or 1.1% of net assets.
(e) 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.
(f) Security or a portion of the security is on loan at period end.
(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(h) Investment made with cash collateral received from securities on loan.
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
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.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy. 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.
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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