Common Stocks - 99.1% |
| | Shares | Value ($) |
BELGIUM - 0.6% | | | |
Health Care - 0.6% | | | |
Biotechnology - 0.1% | | | |
Galapagos NV ADR (b) | | 395,700 | 11,392,203 |
Pharmaceuticals - 0.5% | | | |
UCB SA | | 295,600 | 53,305,637 |
TOTAL BELGIUM | | | 64,697,840 |
BRAZIL - 1.0% | | | |
Consumer Discretionary - 1.0% | | | |
Broadline Retail - 1.0% | | | |
MercadoLibre Inc (b) | | 53,382 | 109,537,729 |
CANADA - 0.1% | | | |
Energy - 0.1% | | | |
Oil, Gas & Consumable Fuels - 0.1% | | | |
Canadian Natural Resources Ltd (United States) | | 471,300 | 15,651,873 |
CHINA - 1.2% | | | |
Consumer Discretionary - 1.2% | | | |
Automobiles - 0.6% | | | |
BYD Co Ltd H Shares | | 1,876,500 | 66,949,704 |
Hotels, Restaurants & Leisure - 0.6% | | | |
Trip.com Group Ltd ADR (b) | | 1,100,500 | 65,402,715 |
TOTAL CHINA | | | 132,352,419 |
DENMARK - 0.1% | | | |
Health Care - 0.1% | | | |
Life Sciences Tools & Services - 0.1% | | | |
Chemometec A/S | | 110,900 | 6,753,481 |
FRANCE - 0.3% | | | |
Consumer Discretionary - 0.3% | | | |
Textiles, Apparel & Luxury Goods - 0.3% | | | |
LVMH Moet Hennessy Louis Vuitton SE | | 44,758 | 34,323,841 |
GERMANY - 0.4% | | | |
Health Care - 0.4% | | | |
Biotechnology - 0.4% | | | |
BioNTech SE ADR (b) | | 344,300 | 40,892,511 |
ISRAEL - 1.0% | | | |
Consumer Discretionary - 0.0% | | | |
Automobile Components - 0.0% | | | |
Mobileye Global Inc Class A (b)(c) | | 335,400 | 4,594,980 |
Health Care - 0.7% | | | |
Biotechnology - 0.0% | | | |
Gamida Cell Ltd (d) | | 2,212,268 | 23 |
Gamida Cell Ltd warrants 4/21/2028 (b)(d) | | 441,000 | 4 |
| | | 27 |
Pharmaceuticals - 0.7% | | | |
Teva Pharmaceutical Industries Ltd ADR (b) | | 3,496,400 | 63,005,128 |
TOTAL HEALTH CARE | | | 63,005,155 |
| | | |
Information Technology - 0.3% | | | |
Software - 0.3% | | | |
Nice Ltd ADR (b) | | 213,400 | 37,061,178 |
TOTAL ISRAEL | | | 104,661,313 |
JAPAN - 0.6% | | | |
Health Care - 0.2% | | | |
Pharmaceuticals - 0.2% | | | |
Chugai Pharmaceutical Co Ltd | | 580,800 | 28,152,012 |
Information Technology - 0.4% | | | |
Semiconductors & Semiconductor Equipment - 0.4% | | | |
Allegro MicroSystems Inc (b) | | 1,655,741 | 38,578,766 |
TOTAL JAPAN | | | 66,730,778 |
NETHERLANDS - 3.1% | | | |
Communication Services - 1.4% | | | |
Entertainment - 1.4% | | | |
Universal Music Group NV (c) | | 5,584,495 | 146,097,216 |
Information Technology - 1.7% | | | |
Semiconductors & Semiconductor Equipment - 1.7% | | | |
ASML Holding NV depository receipt | | 146,238 | 121,852,814 |
BE Semiconductor Industries NV | | 490,000 | 61,935,110 |
| | | 183,787,924 |
TOTAL NETHERLANDS | | | 329,885,140 |
NORWAY - 0.0% | | | |
Information Technology - 0.0% | | | |
Software - 0.0% | | | |
Volue ASA (b) | | 1,137,735 | 4,506,542 |
SPAIN - 0.0% | | | |
Consumer Staples - 0.0% | | | |
Personal Care Products - 0.0% | | | |
Puig Brands SA Class B | | 181,700 | 4,168,564 |
TAIWAN - 4.1% | | | |
Information Technology - 4.1% | | | |
Semiconductors & Semiconductor Equipment - 4.1% | | | |
eMemory Technology Inc | | 75,000 | 6,210,055 |
Taiwan Semiconductor Manufacturing Co Ltd ADR | | 2,498,404 | 433,897,823 |
| | | |
TOTAL TAIWAN | | | 440,107,878 |
UNITED KINGDOM - 0.5% | | | |
Health Care - 0.0% | | | |
Biotechnology - 0.0% | | | |
Immunocore Holdings PLC ADR (b) | | 183,853 | 5,723,344 |
Industrials - 0.5% | | | |
Professional Services - 0.5% | | | |
RELX PLC ADR | | 1,081,200 | 51,313,752 |
TOTAL UNITED KINGDOM | | | 57,037,096 |
UNITED STATES - 86.1% | | | |
Communication Services - 6.5% | | | |
Entertainment - 0.5% | | | |
Live Nation Entertainment Inc (b) | | 305,900 | 33,492,991 |
Warner Music Group Corp Class A (c) | | 555,127 | 17,375,475 |
| | | 50,868,466 |
Interactive Media & Services - 6.0% | | | |
Alphabet Inc Class A | | 2,817,176 | 467,228,640 |
Epic Games Inc (b)(d)(e) | | 5,869 | 3,521,400 |
Meta Platforms Inc Class A | | 308,700 | 176,712,228 |
| | | 647,462,268 |
TOTAL COMMUNICATION SERVICES | | | 698,330,734 |
| | | |
Consumer Discretionary - 8.2% | | | |
Broadline Retail - 4.7% | | | |
Amazon.com Inc (b) | | 2,626,180 | 489,336,119 |
Savers Value Village Inc (b)(c) | | 953,950 | 10,035,554 |
| | | 499,371,673 |
Diversified Consumer Services - 0.1% | | | |
Duolingo Inc Class A (b) | | 51,300 | 14,467,626 |
Hotels, Restaurants & Leisure - 1.7% | | | |
Airbnb Inc Class A (b) | | 969,800 | 122,980,338 |
Domino's Pizza Inc | | 112,000 | 48,175,680 |
Kura Sushi USA Inc Class A (b) | | 211,154 | 17,010,566 |
| | | 188,166,584 |
Household Durables - 0.4% | | | |
Blu Homes Inc (b)(d)(e) | | 14,533,890 | 4,506 |
TopBuild Corp (b) | | 99,400 | 40,436,914 |
| | | 40,441,420 |
Specialty Retail - 1.3% | | | |
Floor & Decor Holdings Inc Class A (b) | | 245,300 | 30,458,901 |
Lowe's Cos Inc | | 404,900 | 109,667,165 |
| | | 140,126,066 |
TOTAL CONSUMER DISCRETIONARY | | | 882,573,369 |
| | | |
Consumer Staples - 0.6% | | | |
Beverages - 0.6% | | | |
Monster Beverage Corp (b) | | 1,205,191 | 62,874,814 |
Energy - 1.2% | | | |
Oil, Gas & Consumable Fuels - 1.2% | | | |
Cheniere Energy Inc | | 495,326 | 89,079,428 |
Range Resources Corp | | 1,424,900 | 43,829,924 |
| | | 132,909,352 |
Financials - 6.9% | | | |
Capital Markets - 0.9% | | | |
Intercontinental Exchange Inc | | 635,200 | 102,038,528 |
Consumer Finance - 0.6% | | | |
Capital One Financial Corp | | 411,600 | 61,628,868 |
Financial Services - 4.4% | | | |
Corebridge Financial Inc | | 817,000 | 23,823,720 |
Fiserv Inc (b) | | 126,900 | 22,797,585 |
Mastercard Inc Class A | | 365,150 | 180,311,070 |
Rocket Cos Inc Class A (b) | | 1,887,554 | 36,222,161 |
Toast Inc Class A (b) | | 1,794,500 | 50,802,295 |
Visa Inc Class A | | 572,600 | 157,436,370 |
| | | 471,393,201 |
Insurance - 1.0% | | | |
Arthur J Gallagher & Co | | 278,101 | 78,249,279 |
Baldwin Insurance Group Inc/The Class A (b) | | 700,368 | 34,878,326 |
| | | 113,127,605 |
TOTAL FINANCIALS | | | 748,188,202 |
| | | |
Health Care - 13.9% | | | |
Biotechnology - 4.1% | | | |
Adamas Pharmaceuticals Inc rights (b)(d) | | 1,781,700 | 124,719 |
Adamas Pharmaceuticals Inc rights (b)(d) | | 1,781,700 | 213,804 |
Alnylam Pharmaceuticals Inc (b) | | 379,724 | 104,435,492 |
Arcellx Inc (b) | | 51,857 | 4,330,578 |
Arrowhead Pharmaceuticals Inc (b) | | 230,300 | 4,460,911 |
Beam Therapeutics Inc (b) | | 63,170 | 1,547,665 |
Blueprint Medicines Corp (b) | | 36,400 | 3,367,000 |
Cytokinetics Inc (b) | | 207,931 | 10,978,757 |
Exact Sciences Corp (b) | | 1,889,900 | 128,739,988 |
Gilead Sciences Inc | | 828,800 | 69,486,592 |
Hookipa Pharma Inc (b) | | 101,448 | 436,226 |
Insmed Inc (b)(c) | | 1,011,716 | 73,855,268 |
Janux Therapeutics Inc (b) | | 22,700 | 1,031,261 |
Krystal Biotech Inc (b) | | 36,000 | 6,553,080 |
Legend Biotech Corp ADR (b) | | 203,000 | 9,892,190 |
Moderna Inc (b) | | 93,000 | 6,215,190 |
Sarepta Therapeutics Inc (b) | | 52,800 | 6,594,192 |
Seres Therapeutics Inc (b) | | 405,600 | 383,738 |
Synlogic Inc (b) | | 76,833 | 114,481 |
Vor BioPharma Inc (b) | | 618,395 | 432,877 |
XOMA Royalty Corp (b) | | 260,219 | 6,890,599 |
| | | 440,084,608 |
Health Care Equipment & Supplies - 4.6% | | | |
Align Technology Inc (b) | | 275,700 | 70,116,024 |
Boston Scientific Corp (b) | | 3,322,500 | 278,425,500 |
Glaukos Corp (b) | | 226,000 | 29,443,280 |
Hologic Inc (b) | | 1,152,600 | 93,890,796 |
Lantheus Holdings Inc (b) | | 91,200 | 10,009,200 |
Penumbra Inc (b) | | 72,601 | 14,107,100 |
Pulmonx Corp (b) | | 211,900 | 1,756,651 |
RxSight Inc (b) | | 58,000 | 2,866,940 |
| | | 500,615,491 |
Health Care Providers & Services - 0.8% | | | |
HealthEquity Inc (b) | | 1,060,196 | 86,777,043 |
Life Sciences Tools & Services - 1.7% | | | |
Bio-Techne Corp | | 245,600 | 19,630,808 |
Bruker Corp | | 1,010,685 | 69,797,906 |
Codexis Inc (b) | | 1,141,000 | 3,514,280 |
Danaher Corp | | 307,550 | 85,505,051 |
MaxCyte Inc (United States) (b) | | 976,700 | 3,799,363 |
| | | 182,247,408 |
Pharmaceuticals - 2.7% | | | |
Aclaris Therapeutics Inc (b) | | 134,507 | 154,683 |
Eli Lilly & Co | | 320,387 | 283,843,659 |
Zevra Therapeutics Inc (b) | | 642,100 | 4,456,174 |
| | | 288,454,516 |
TOTAL HEALTH CARE | | | 1,498,179,066 |
| | | |
Industrials - 12.5% | | | |
Aerospace & Defense - 1.6% | | | |
GE Aerospace | | 898,400 | 169,420,272 |
Loar Holdings Inc | | 9,800 | 730,982 |
| | | 170,151,254 |
Building Products - 0.0% | | | |
Simpson Manufacturing Co Inc | | 29,100 | 5,565,957 |
Commercial Services & Supplies - 0.0% | | | |
Montrose Environmental Group Inc (b) | | 85,000 | 2,235,500 |
Electrical Equipment - 0.9% | | | |
GE Vernova Inc | | 389,425 | 99,295,587 |
Ground Transportation - 4.3% | | | |
Uber Technologies Inc (b) | | 6,116,378 | 459,706,971 |
Machinery - 1.9% | | | |
Chart Industries Inc (b) | | 83,000 | 10,303,620 |
Deere & Co | | 105,100 | 43,861,383 |
Energy Recovery Inc (b) | | 261,100 | 4,540,529 |
Ingersoll Rand Inc | | 1,092,715 | 107,260,904 |
Westinghouse Air Brake Technologies Corp | | 226,497 | 41,170,360 |
| | | 207,136,796 |
Professional Services - 3.0% | | | |
Equifax Inc | | 664,812 | 195,361,654 |
KBR Inc | | 1,458,455 | 94,989,174 |
UL Solutions Inc Class A (c) | | 646,500 | 31,872,450 |
| | | 322,223,278 |
Trading Companies & Distributors - 0.8% | | | |
Ferguson Enterprises Inc (United Kingdom) | | 413,545 | 81,274,681 |
TOTAL INDUSTRIALS | | | 1,347,590,024 |
| | | |
Information Technology - 34.9% | | | |
Electronic Equipment, Instruments & Components - 0.9% | | | |
Flex Ltd (b) | | 1,910,425 | 63,865,508 |
Jabil Inc | | 322,800 | 38,681,124 |
| | | 102,546,632 |
IT Services - 1.3% | | | |
MongoDB Inc Class A (b) | | 500,164 | 135,219,337 |
Semiconductors & Semiconductor Equipment - 6.4% | | | |
Astera Labs Inc (b) | | 18,300 | 958,737 |
Marvell Technology Inc | | 296,292 | 21,368,579 |
NVIDIA Corp | | 4,467,240 | 542,501,626 |
SiTime Corp (b) | | 419,936 | 72,023,223 |
Universal Display Corp | | 267,374 | 56,121,803 |
| | | 692,973,968 |
Software - 13.3% | | | |
Asapp Inc warrants 8/28/2028 (b)(d)(e) | | 2,365,967 | 2,981,118 |
HubSpot Inc (b) | | 156,300 | 83,089,080 |
Manhattan Associates Inc (b) | | 253,706 | 71,387,794 |
Microsoft Corp | | 2,719,888 | 1,170,367,807 |
Nutanix Inc Class A (b) | | 237,400 | 14,065,950 |
OpenAI Global LLC rights (b)(d)(e) | | 6,112,033 | 6,112,033 |
Servicenow Inc (b) | | 71,300 | 63,770,007 |
Zeta Global Holdings Corp Class A (b) | | 1,020,100 | 30,429,583 |
| | | 1,442,203,372 |
Technology Hardware, Storage & Peripherals - 13.0% | | | |
Apple Inc | | 6,017,432 | 1,402,061,656 |
TOTAL INFORMATION TECHNOLOGY | | | 3,775,004,965 |
| | | |
Materials - 1.1% | | | |
Chemicals - 0.1% | | | |
Aspen Aerogels Inc (b)(c) | | 465,102 | 12,878,674 |
Construction Materials - 0.5% | | | |
Eagle Materials Inc | | 20,700 | 5,954,355 |
Martin Marietta Materials Inc | | 83,200 | 44,782,400 |
| | | 50,736,755 |
Containers & Packaging - 0.4% | | | |
International Paper Co | | 889,500 | 43,452,075 |
Metals & Mining - 0.1% | | | |
Carpenter Technology Corp | | 73,900 | 11,792,962 |
TOTAL MATERIALS | | | 118,860,466 |
| | | |
Real Estate - 0.3% | | | |
Real Estate Management & Development - 0.3% | | | |
Zillow Group Inc Class A (b) | | 175,000 | 10,837,750 |
Zillow Group Inc Class C (b) | | 341,000 | 21,772,850 |
| | | 32,610,600 |
TOTAL UNITED STATES | | | 9,297,121,592 |
TOTAL COMMON STOCKS (Cost $6,137,432,775) | | | 10,708,428,597 |
| | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column 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. 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 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)
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. Convertible Corporate Bonds and 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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