UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03583
Fidelity Mt. Vernon Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | November 30 |
Date of reporting period: | November 30, 2022 |
Item 1.
Reports to Stockholders
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Growth Company Fund | -29.90% | 14.75% | 17.12% |
Class K | -29.85% | 14.85% | 17.23% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Company Fund, a class of the fund, on November 30, 2012. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Apple, Inc. | 11.6 | |
NVIDIA Corp. | 7.3 | |
Microsoft Corp. | 6.1 | |
Amazon.com, Inc. | 5.4 | |
Alphabet, Inc. Class A | 5.1 | |
lululemon athletica, Inc. | 4.3 | |
Alphabet, Inc. Class C | 2.9 | |
Salesforce.com, Inc. | 1.7 | |
Tesla, Inc. | 1.6 | |
Hess Corp. | 1.2 | |
47.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 38.7 | |
Consumer Discretionary | 20.0 | |
Health Care | 15.0 | |
Communication Services | 9.8 | |
Industrials | 5.2 | |
Consumer Staples | 3.9 | |
Energy | 3.4 | |
Financials | 1.7 | |
Materials | 1.6 | |
Real Estate | 0.3 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 4.9% |
Common Stocks - 97.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.6% | |||
Diversified Telecommunication Services - 0.0% | |||
Starry Group Holdings, Inc. Class A (a)(b) | 6,199,221 | 1,165 | |
Entertainment - 0.7% | |||
Netflix, Inc. (a) | 794,660 | 242,792 | |
Roblox Corp. (a)(b) | 275,791 | 8,762 | |
Roku, Inc. Class A (a)(b) | 405,135 | 24,053 | |
The Walt Disney Co. (a) | 158,761 | 15,538 | |
291,145 | |||
Interactive Media & Services - 8.3% | |||
Alphabet, Inc.: | |||
Class A (a) | 21,570,884 | 2,178,444 | |
Class C (a) | 12,291,212 | 1,246,943 | |
Epic Games, Inc. (a)(c)(d) | 51,800 | 43,867 | |
Meta Platforms, Inc. Class A (a) | 520,466 | 61,467 | |
Snap, Inc. Class A (a) | 814,089 | 8,393 | |
Zoominfo Technologies, Inc. (a) | 214,540 | 6,136 | |
3,545,250 | |||
Media - 0.0% | |||
The Trade Desk, Inc. (a) | 55,591 | 2,899 | |
Wireless Telecommunication Services - 0.6% | |||
T-Mobile U.S., Inc. (a) | 1,689,269 | 255,857 | |
TOTAL COMMUNICATION SERVICES | 4,096,316 | ||
CONSUMER DISCRETIONARY - 19.7% | |||
Auto Components - 0.0% | |||
Mobileye Global, Inc. (b) | 365,585 | 10,423 | |
Automobiles - 2.1% | |||
Neutron Holdings, Inc. (a)(c)(d) | 1,546,251 | 33 | |
Rad Power Bikes, Inc. (a)(c)(d) | 1,182,568 | 5,156 | |
Rivian Automotive, Inc. (b) | 6,092,898 | 195,216 | |
Tesla, Inc. (a) | 3,602,796 | 701,464 | |
901,869 | |||
Hotels, Restaurants & Leisure - 1.3% | |||
Airbnb, Inc. Class A (a) | 397,321 | 40,582 | |
Booking Holdings, Inc. (a) | 92,964 | 193,314 | |
Chipotle Mexican Grill, Inc. (a) | 37,763 | 61,439 | |
Dutch Bros, Inc. (a)(b) | 133,247 | 5,029 | |
Expedia, Inc. (a) | 213,767 | 22,839 | |
Marriott International, Inc. Class A | 440,429 | 72,825 | |
McDonald's Corp. | 2,834 | 773 | |
Penn Entertainment, Inc. (a) | 2,019,238 | 71,057 | |
Shake Shack, Inc. Class A (a) | 65,060 | 3,422 | |
Sonder Holdings, Inc. (a)(b) | 5,764,846 | 10,204 | |
Sonder Holdings, Inc.: | |||
rights (a)(d) | 53,749 | 38 | |
rights (a)(d) | 53,749 | 32 | |
rights (a)(d) | 53,749 | 28 | |
rights (a)(d) | 53,749 | 24 | |
rights (a)(d) | 53,749 | 21 | |
rights (a)(d) | 53,748 | 19 | |
Starbucks Corp. | 455,684 | 46,571 | |
Sweetgreen, Inc. Class A | 1,332,917 | 19,101 | |
Yum China Holdings, Inc. (b) | 453,909 | 25,019 | |
572,337 | |||
Household Durables - 0.3% | |||
Lennar Corp. Class A | 1,357,521 | 119,231 | |
Purple Innovation, Inc. (a)(b) | 3,370,483 | 17,021 | |
136,252 | |||
Internet & Direct Marketing Retail - 6.4% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 191,500 | 16,768 | |
Amazon.com, Inc. (a) | 23,816,501 | 2,299,245 | |
Etsy, Inc. (a) | 84,514 | 11,163 | |
JD.com, Inc. sponsored ADR | 82,759 | 4,732 | |
Lyft, Inc. (a) | 1,647,134 | 18,481 | |
Ozon Holdings PLC ADR (a)(b)(d) | 20,942 | 44 | |
Pinduoduo, Inc. ADR (a) | 151,566 | 12,434 | |
Revolve Group, Inc. (a)(b) | 1,893,696 | 50,031 | |
RumbleON, Inc. Class B (a) | 590,286 | 4,504 | |
Uber Technologies, Inc. (a) | 4,822,341 | 140,523 | |
Wayfair LLC Class A (a)(b) | 3,415,980 | 125,162 | |
Zomato Ltd. (a) | 31,811,600 | 25,929 | |
2,709,016 | |||
Multiline Retail - 0.6% | |||
Dollar General Corp. | 287,849 | 73,597 | |
Dollar Tree, Inc. (a) | 221,623 | 33,308 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 1,870,203 | 113,895 | |
Target Corp. | 134,178 | 22,417 | |
243,217 | |||
Specialty Retail - 2.6% | |||
Fanatics, Inc. Class A (a)(c)(d) | 730,532 | 55,645 | |
Five Below, Inc. (a) | 215,217 | 34,620 | |
Floor & Decor Holdings, Inc. Class A (a) | 169,269 | 12,633 | |
Lowe's Companies, Inc. | 1,332,837 | 283,295 | |
RH (a) | 106,495 | 30,546 | |
Ross Stores, Inc. | 183,307 | 21,570 | |
The Home Depot, Inc. | 972,130 | 314,960 | |
TJX Companies, Inc. | 4,193,979 | 335,728 | |
1,088,997 | |||
Textiles, Apparel & Luxury Goods - 6.4% | |||
Canada Goose Holdings, Inc. (a)(b) | 1,164,452 | 21,815 | |
Crocs, Inc. (a) | 441,725 | 44,614 | |
Deckers Outdoor Corp. (a) | 604,367 | 241,070 | |
Li Ning Co. Ltd. | 931,861 | 7,489 | |
lululemon athletica, Inc. (a) | 4,865,224 | 1,850,293 | |
NIKE, Inc. Class B | 1,143,404 | 125,420 | |
On Holding AG (a)(b) | 4,882,593 | 94,820 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 7,090,843 | 299,021 | |
Tory Burch LLC: | |||
Class A (a)(c)(d)(e) | 950,844 | 28,539 | |
Class B (a)(c)(d)(e) | 324,840 | 10,548 | |
2,723,629 | |||
TOTAL CONSUMER DISCRETIONARY | 8,385,740 | ||
CONSUMER STAPLES - 3.8% | |||
Beverages - 1.6% | |||
Celsius Holdings, Inc. (a) | 212,987 | 23,714 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 154,752 | 39,825 | |
Keurig Dr. Pepper, Inc. | 1,948,261 | 75,339 | |
Monster Beverage Corp. (a) | 1,444,821 | 148,614 | |
PepsiCo, Inc. | 631,540 | 117,157 | |
The Coca-Cola Co. | 4,343,069 | 276,263 | |
680,912 | |||
Food & Staples Retailing - 0.8% | |||
Costco Wholesale Corp. | 437,715 | 236,038 | |
Kroger Co. | 628,902 | 30,936 | |
Performance Food Group Co. (a) | 340,919 | 20,789 | |
Sysco Corp. | 393,666 | 34,056 | |
Walmart, Inc. | 100,288 | 15,286 | |
337,105 | |||
Food Products - 0.6% | |||
Archer Daniels Midland Co. | 358,224 | 34,927 | |
Bunge Ltd. | 770,884 | 80,819 | |
Darling Ingredients, Inc. (a) | 595,118 | 42,747 | |
Kellogg Co. | 315,883 | 23,044 | |
Mondelez International, Inc. | 285,056 | 19,273 | |
The Hershey Co. | 152,752 | 35,923 | |
The Real Good Food Co. LLC: | |||
Class B (d) | 616,906 | 0 | |
Class B unit (f) | 616,906 | 4,411 | |
The Real Good Food Co., Inc. | 52,708 | 377 | |
241,521 | |||
Household Products - 0.3% | |||
Church & Dwight Co., Inc. | 195,324 | 15,991 | |
Colgate-Palmolive Co. | 313,134 | 24,262 | |
Procter & Gamble Co. | 693,797 | 103,487 | |
143,740 | |||
Personal Products - 0.1% | |||
Olaplex Holdings, Inc. (a) | 3,986,454 | 23,799 | |
The Beauty Health Co. (a)(b) | 1,156,139 | 12,428 | |
The Beauty Health Co. (a)(c) | 2,884,717 | 31,011 | |
67,238 | |||
Tobacco - 0.4% | |||
JUUL Labs, Inc. Class A (a)(c)(d) | 44,067 | 197 | |
Philip Morris International, Inc. | 1,721,308 | 171,563 | |
171,760 | |||
TOTAL CONSUMER STAPLES | 1,642,276 | ||
ENERGY - 3.4% | |||
Energy Equipment & Services - 0.5% | |||
Baker Hughes Co. Class A | 878,719 | 25,500 | |
Halliburton Co. | 2,833,072 | 107,345 | |
Schlumberger Ltd. | 1,849,450 | 95,339 | |
228,184 | |||
Oil, Gas & Consumable Fuels - 2.9% | |||
Cameco Corp. (b) | 1,469,876 | 35,836 | |
ConocoPhillips Co. | 177,409 | 21,912 | |
Devon Energy Corp. | 647,031 | 44,335 | |
EOG Resources, Inc. | 1,006,539 | 142,858 | |
EQT Corp. | 375,735 | 15,935 | |
Exxon Mobil Corp. | 128,654 | 14,324 | |
Hess Corp. | 3,620,383 | 521,009 | |
Occidental Petroleum Corp. | 726,470 | 50,482 | |
Phillips 66 Co. | 206,415 | 22,384 | |
Pioneer Natural Resources Co. | 411,308 | 97,065 | |
Range Resources Corp. | 3,370,558 | 97,308 | |
Reliance Industries Ltd. | 2,745,038 | 92,407 | |
Valero Energy Corp. | 465,522 | 62,203 | |
1,218,058 | |||
TOTAL ENERGY | 1,446,242 | ||
FINANCIALS - 1.6% | |||
Banks - 0.5% | |||
Bank of America Corp. | 2,481,335 | 93,919 | |
HDFC Bank Ltd. sponsored ADR | 1,182,906 | 83,478 | |
JPMorgan Chase & Co. | 267,999 | 37,032 | |
Wells Fargo & Co. | 150,237 | 7,204 | |
221,633 | |||
Capital Markets - 0.7% | |||
BlackRock, Inc. Class A | 119,052 | 85,241 | |
Charles Schwab Corp. | 2,597,203 | 214,373 | |
299,614 | |||
Consumer Finance - 0.1% | |||
Discover Financial Services | 80,357 | 8,707 | |
Diversified Financial Services - 0.3% | |||
Adimab LLC (a)(c)(d)(e) | 3,162,765 | 127,428 | |
Ant International Co. Ltd. Class C (a)(c)(d) | 2,440,816 | 3,954 | |
131,382 | |||
TOTAL FINANCIALS | 661,336 | ||
HEALTH CARE - 14.1% | |||
Biotechnology - 7.4% | |||
4D Pharma PLC (a)(b)(d) | 2,535,166 | 509 | |
AbbVie, Inc. | 385,499 | 62,135 | |
Absci Corp. (a)(b) | 4,138,840 | 10,347 | |
ACADIA Pharmaceuticals, Inc. (a) | 3,222,689 | 50,209 | |
ADC Therapeutics SA (a) | 231,229 | 846 | |
Akouos, Inc. (a)(f) | 362,038 | 4,811 | |
Akouos, Inc. (CVR) (d) | 892,408 | 705 | |
Alector, Inc. (a) | 1,225,368 | 10,403 | |
Allovir, Inc. (a) | 2,157,670 | 16,204 | |
Alnylam Pharmaceuticals, Inc. (a) | 2,116,300 | 466,835 | |
Ambrx Biopharma, Inc. ADR (a) | 339,796 | 166 | |
Amgen, Inc. | 351,035 | 100,536 | |
Arcutis Biotherapeutics, Inc. (a) | 701,330 | 12,084 | |
Argenx SE ADR (a) | 675,037 | 268,644 | |
Arrowhead Pharmaceuticals, Inc. (a) | 91,488 | 2,946 | |
Ars Pharmaceuticals, Inc. (a) | 1,365,153 | 8,491 | |
Ascendis Pharma A/S sponsored ADR (a) | 59,769 | 7,355 | |
aTyr Pharma, Inc. (a) | 1,012,631 | 2,187 | |
Avidity Biosciences, Inc. (a) | 947,297 | 11,027 | |
Axcella Health, Inc. (a) | 3,238,455 | 2,722 | |
Beam Therapeutics, Inc. (a)(b) | 323,402 | 14,938 | |
BeiGene Ltd. ADR (a) | 710,914 | 136,218 | |
BioNTech SE ADR | 13,908 | 2,323 | |
BioXcel Therapeutics, Inc. (a)(b) | 1,347,564 | 22,329 | |
Caris Life Sciences, Inc. (c)(d) | 926,826 | 5,190 | |
Century Therapeutics, Inc. (a) | 1,233,843 | 12,955 | |
Cerevel Therapeutics Holdings (a) | 5,805,534 | 168,128 | |
Codiak Biosciences, Inc. (a) | 1,474,259 | 1,017 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 380,700 | 51 | |
CRISPR Therapeutics AG (a)(b) | 598,000 | 32,764 | |
Cyclerion Therapeutics, Inc. (a) | 450,924 | 428 | |
Cyclerion Therapeutics, Inc. (a)(c) | 543,695 | 517 | |
Day One Biopharmaceuticals, Inc. (a) | 428,284 | 9,092 | |
Denali Therapeutics, Inc. (a) | 230,413 | 7,352 | |
Deverra Therapeutics, Inc. (a)(d) | 59,780 | 103 | |
EQRx, Inc. (a)(g) | 6,469,081 | 24,324 | |
EQRx, Inc.: | |||
rights (a)(d) | 441,931 | 1,445 | |
rights (a)(d) | 189,399 | 504 | |
Erasca, Inc. (a) | 415,001 | 3,133 | |
Evelo Biosciences, Inc. (a)(b) | 4,810,224 | 10,053 | |
Foghorn Therapeutics, Inc. (a) | 962,503 | 6,497 | |
Gemini Therapeutics, Inc. (a)(b) | 129,390 | 223 | |
Generation Bio Co. (a) | 2,276,115 | 12,132 | |
Immunocore Holdings PLC ADR (a) | 282,144 | 17,721 | |
Immunovant, Inc. (a) | 593,521 | 7,781 | |
Inhibrx, Inc. (a)(b) | 511,823 | 15,344 | |
Instil Bio, Inc. (a) | 255,707 | 340 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(d) | 156,370 | 0 | |
Intellia Therapeutics, Inc. (a) | 204,107 | 10,503 | |
Invivyd, Inc. (a)(b) | 4,884,128 | 11,038 | |
Ionis Pharmaceuticals, Inc. (a) | 6,921,149 | 282,314 | |
Janux Therapeutics, Inc. (a) | 499,247 | 6,810 | |
Karuna Therapeutics, Inc. (a) | 1,229,681 | 289,356 | |
Kinnate Biopharma, Inc. (a) | 242,867 | 1,924 | |
Legend Biotech Corp. ADR (a) | 1,072,169 | 55,227 | |
Lexicon Pharmaceuticals, Inc. (a) | 1,815,810 | 3,886 | |
Lyell Immunopharma, Inc. (a)(b) | 950,466 | 4,001 | |
Moderna, Inc. (a) | 635,240 | 111,745 | |
Monte Rosa Therapeutics, Inc. (a) | 889,412 | 7,542 | |
Morphic Holding, Inc. (a) | 1,091,518 | 30,039 | |
Nuvalent, Inc. Class A (a) | 1,450,599 | 47,696 | |
Omega Therapeutics, Inc. (a) | 1,271,439 | 8,900 | |
ORIC Pharmaceuticals, Inc. (a) | 979,490 | 3,516 | |
Poseida Therapeutics, Inc. (a) | 2,801,540 | 12,775 | |
Protagonist Therapeutics, Inc. (a) | 58,485 | 463 | |
Prothena Corp. PLC (a) | 615,689 | 38,487 | |
PTC Therapeutics, Inc. (a) | 957,457 | 39,725 | |
Recursion Pharmaceuticals, Inc. (a)(b) | 1,372,515 | 12,902 | |
Regeneron Pharmaceuticals, Inc. (a) | 270,593 | 203,405 | |
Relay Therapeutics, Inc. (a) | 623,054 | 11,576 | |
Rigel Pharmaceuticals, Inc. (a) | 1,735,384 | 1,165 | |
Roivant Sciences Ltd. (a) | 7,042,155 | 37,746 | |
Rubius Therapeutics, Inc. (a)(b) | 4,389,016 | 974 | |
Sage Therapeutics, Inc. (a) | 1,798,480 | 73,810 | |
Saluda Medical Pty Ltd. warrants (a)(c)(d) | 174,424 | 66 | |
Sana Biotechnology, Inc. (a)(b) | 644,891 | 3,218 | |
Scholar Rock Holding Corp. (a) | 1,685,741 | 13,098 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(c) | 167,100 | 517 | |
Seagen, Inc. (a) | 42,853 | 5,202 | |
Seres Therapeutics, Inc. (a) | 5,799,376 | 37,696 | |
Shattuck Labs, Inc. (a) | 1,257,682 | 2,855 | |
Sigilon Therapeutics, Inc. (a) | 383,507 | 160 | |
SpringWorks Therapeutics, Inc. (c) | 457,500 | 9,956 | |
SpringWorks Therapeutics, Inc. (a) | 2,650,494 | 64,089 | |
Synlogic, Inc. (a) | 2,302,627 | 1,377 | |
Tango Therapeutics, Inc. (a) | 188,275 | 1,414 | |
Taysha Gene Therapies, Inc. (a) | 919,727 | 2,033 | |
TG Therapeutics, Inc. (a) | 1,459,966 | 12,877 | |
Twist Bioscience Corp. (a) | 800,302 | 21,888 | |
Tyra Biosciences, Inc. (a) | 157,576 | 1,105 | |
uniQure B.V. (a) | 274,107 | 7,253 | |
UNITY Biotechnology, Inc. (a)(b) | 244,083 | 671 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 1,981,888 | 90 | |
Vaxcyte, Inc. (a) | 880,825 | 40,571 | |
Vera Therapeutics, Inc. (a) | 566,618 | 9,463 | |
Vertex Pharmaceuticals, Inc. (a) | 143,057 | 45,263 | |
Verve Therapeutics, Inc. (a) | 420,955 | 9,779 | |
Vor Biopharma, Inc. (a) | 352,998 | 1,624 | |
Yumanity Therapeutics, Inc. (a)(g) | 564,953 | 1,011 | |
Zai Lab Ltd. ADR (a) | 281,035 | 10,837 | |
Zentalis Pharmaceuticals, Inc. (a) | 690,774 | 15,280 | |
3,178,982 | |||
Health Care Equipment & Supplies - 3.3% | |||
Abbott Laboratories | 37,775 | 4,064 | |
Blink Health LLC Series A1 (a)(c)(d) | 173,460 | 6,709 | |
DexCom, Inc. (a) | 1,039,437 | 120,866 | |
Figs, Inc. Class A (a)(b) | 405,139 | 3,172 | |
Insulet Corp. (a) | 1,686,973 | 505,029 | |
Intuitive Surgical, Inc. (a) | 679,666 | 183,775 | |
Novocure Ltd. (a) | 4,718,471 | 362,567 | |
Oddity Tech Ltd. (c)(d) | 10,306 | 4,137 | |
Outset Medical, Inc. (a) | 1,436,912 | 30,290 | |
Penumbra, Inc. (a) | 4,866 | 1,019 | |
Presbia PLC (a)(d)(g) | 1,099,338 | 16 | |
PROCEPT BioRobotics Corp. (a) | 1,103,656 | 47,347 | |
Shockwave Medical, Inc. (a) | 528,962 | 134,145 | |
1,403,136 | |||
Health Care Providers & Services - 1.2% | |||
Alignment Healthcare, Inc. (a) | 1,707,945 | 22,716 | |
AmerisourceBergen Corp. | 62,159 | 10,610 | |
Centene Corp. (a) | 317,430 | 27,632 | |
Guardant Health, Inc. (a) | 399,664 | 20,918 | |
Humana, Inc. | 181,129 | 99,603 | |
McKesson Corp. | 81,919 | 31,267 | |
Progyny, Inc. (a) | 39,762 | 1,456 | |
The Oncology Institute, Inc. (a)(c) | 1,815,080 | 2,559 | |
UnitedHealth Group, Inc. | 550,007 | 301,272 | |
518,033 | |||
Health Care Technology - 0.0% | |||
DNA Script (c)(d) | 463 | 358 | |
DNA Script (c)(d) | 1,769 | 1,367 | |
1,725 | |||
Life Sciences Tools & Services - 0.7% | |||
10X Genomics, Inc. Class B (a)(f) | 2,870,040 | 110,956 | |
Akoya Biosciences, Inc. (a)(b) | 57,490 | 746 | |
Danaher Corp. | 69,919 | 19,117 | |
Olink Holding AB ADR (a) | 1,435,926 | 34,218 | |
Seer, Inc. (a) | 1,157,046 | 7,475 | |
Thermo Fisher Scientific, Inc. | 123,309 | 69,080 | |
WuXi AppTec Co. Ltd. (H Shares) (f) | 1,105,251 | 11,145 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 5,923,730 | 38,823 | |
291,560 | |||
Pharmaceuticals - 1.5% | |||
Arvinas Holding Co. LLC (a) | 178,899 | 7,342 | |
Atea Pharmaceuticals, Inc. (a) | 3,032,257 | 14,221 | |
Bristol-Myers Squibb Co. | 395,000 | 31,711 | |
DICE Therapeutics, Inc. (a) | 271,458 | 9,449 | |
Dragonfly Therapeutics, Inc. (a)(c)(d) | 481,725 | 5,911 | |
Eli Lilly & Co. | 555,328 | 206,071 | |
Fulcrum Therapeutics, Inc. (a) | 1,364,788 | 9,349 | |
GH Research PLC (a) | 929,935 | 10,173 | |
Hansoh Pharmaceutical Group Co. Ltd. (f) | 1,455,362 | 2,763 | |
Harmony Biosciences Holdings, Inc. (a)(b) | 1,826,553 | 109,173 | |
Intra-Cellular Therapies, Inc. (a) | 3,056,415 | 165,719 | |
Nuvation Bio, Inc. (a) | 4,284,247 | 8,183 | |
OptiNose, Inc. (a) | 4,849,595 | 8,584 | |
OptiNose, Inc. warrants (a) | 731,228 | 475 | |
Pharvaris BV (a) | 134,126 | 276 | |
Pliant Therapeutics, Inc. (a) | 1,223,236 | 22,483 | |
Sienna Biopharmaceuticals, Inc. (a)(d) | 1,476,533 | 0 | |
Skyhawk Therapeutics, Inc. (a)(c)(d) | 603,195 | 7,039 | |
Theravance Biopharma, Inc. (a) | 778,631 | 8,378 | |
UCB SA | 97,857 | 7,899 | |
635,199 | |||
TOTAL HEALTH CARE | 6,028,635 | ||
INDUSTRIALS - 4.8% | |||
Aerospace & Defense - 1.1% | |||
AeroVironment, Inc. (a) | 63,026 | 5,798 | |
Lockheed Martin Corp. | 177,370 | 86,058 | |
Raytheon Technologies Corp. | 450,939 | 44,517 | |
Space Exploration Technologies Corp. Class A (a)(c)(d) | 4,182,100 | 292,747 | |
The Boeing Co. (a) | 225,363 | 40,313 | |
469,433 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. | 2,969,100 | 12,321 | |
United Parcel Service, Inc. Class B | 245,988 | 46,671 | |
58,992 | |||
Airlines - 0.7% | |||
Delta Air Lines, Inc. (a) | 1,740,127 | 61,548 | |
Ryanair Holdings PLC sponsored ADR (a) | 23,599 | 1,786 | |
Southwest Airlines Co. | 2,318,159 | 92,518 | |
Spirit Airlines, Inc. (a) | 1,740,859 | 37,794 | |
United Airlines Holdings, Inc. (a) | 914,607 | 40,398 | |
Wheels Up Experience, Inc. (a)(c) | 166,281 | 213 | |
Wheels Up Experience, Inc.: | |||
Class A (a) | 4,623,545 | 5,918 | |
rights (a)(d) | 80,889 | 35 | |
rights (a)(d) | 80,889 | 28 | |
rights (a)(d) | 80,890 | 24 | |
Wizz Air Holdings PLC (a)(f) | 2,099,093 | 57,303 | |
297,565 | |||
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 1,248,973 | 41,978 | |
MasTec, Inc. (a) | 150,491 | 13,669 | |
Quanta Services, Inc. | 139,127 | 20,852 | |
76,499 | |||
Electrical Equipment - 0.3% | |||
Eaton Corp. PLC | 191,360 | 31,278 | |
Emerson Electric Co. | 545,490 | 52,242 | |
Fluence Energy, Inc. (a)(b) | 101,069 | 1,736 | |
Generac Holdings, Inc. (a) | 227,575 | 24,014 | |
NuScale Power Corp. (a)(b) | 440,792 | 4,805 | |
114,075 | |||
Industrial Conglomerates - 0.0% | |||
Honeywell International, Inc. | 104,988 | 23,050 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 316,666 | 74,863 | |
Deere & Co. | 294,407 | 129,833 | |
Fortive Corp. | 91,051 | 6,150 | |
Illinois Tool Works, Inc. | 157,246 | 35,769 | |
Ingersoll Rand, Inc. | 225,798 | 12,186 | |
Xylem, Inc. | 723,011 | 81,230 | |
340,031 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 419,915 | 3,716 | |
Road & Rail - 1.6% | |||
Avis Budget Group, Inc. (a) | 1,939,654 | 433,707 | |
Bird Global, Inc. (a)(c) | 961,227 | 222 | |
Bird Global, Inc.: | |||
Class A (a) | 2,184,756 | 505 | |
rights (a)(d) | 133,323 | 5 | |
rights (a)(d) | 133,322 | 4 | |
rights (a)(d) | 133,322 | 3 | |
CSX Corp. | 224,306 | 7,333 | |
Hertz Global Holdings, Inc. (b) | 1,856,220 | 31,927 | |
Union Pacific Corp. | 933,889 | 203,055 | |
676,761 | |||
TOTAL INDUSTRIALS | 2,060,122 | ||
INFORMATION TECHNOLOGY - 38.2% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 309,866 | 43,164 | |
Ciena Corp. (a) | 2,670,468 | 120,064 | |
Infinera Corp. (a)(b) | 10,818,221 | 73,023 | |
236,251 | |||
Electronic Equipment & Components - 0.0% | |||
Coherent Corp. (a)(b) | 360,762 | 13,229 | |
TE Connectivity Ltd. | 12,593 | 1,588 | |
14,817 | |||
IT Services - 3.6% | |||
Accenture PLC Class A | 307,588 | 92,562 | |
Block, Inc. Class A (a) | 107,233 | 7,267 | |
Cloudflare, Inc. (a) | 4,003,783 | 196,746 | |
IBM Corp. | 344,073 | 51,232 | |
MasterCard, Inc. Class A | 1,215,091 | 433,058 | |
MongoDB, Inc. Class A (a) | 24,556 | 3,749 | |
Okta, Inc. (a) | 317,586 | 16,934 | |
PayPal Holdings, Inc. (a) | 416,161 | 32,631 | |
Shopify, Inc. Class A (a) | 1,424,789 | 58,532 | |
Snowflake, Inc. (a) | 217,736 | 31,114 | |
Toast, Inc. (a)(b) | 4,099,129 | 75,260 | |
Visa, Inc. Class A | 2,381,330 | 516,749 | |
X Holdings I, Inc. (c)(d) | 9,028 | 3,961 | |
1,519,795 | |||
Semiconductors & Semiconductor Equipment - 10.8% | |||
Advanced Micro Devices, Inc. (a) | 2,324,203 | 180,428 | |
Applied Materials, Inc. | 1,382,266 | 151,496 | |
ASML Holding NV | 32,333 | 19,662 | |
Broadcom, Inc. | 121,243 | 66,809 | |
Cirrus Logic, Inc. (a) | 1,474,265 | 110,142 | |
Enphase Energy, Inc. (a) | 204,602 | 65,593 | |
First Solar, Inc. (a)(b) | 567,762 | 97,956 | |
GlobalFoundries, Inc. (a) | 130,937 | 8,426 | |
KLA Corp. | 178,710 | 70,260 | |
Lam Research Corp. | 41,367 | 19,541 | |
Lattice Semiconductor Corp. (a) | 18,200 | 1,326 | |
Marvell Technology, Inc. | 2,380,561 | 110,744 | |
Micron Technology, Inc. | 168,662 | 9,723 | |
Monolithic Power Systems, Inc. | 58,958 | 22,520 | |
NVIDIA Corp. | 18,468,150 | 3,125,365 | |
onsemi (a) | 358,174 | 26,935 | |
Qualcomm, Inc. | 462,575 | 58,511 | |
Silicon Laboratories, Inc. (a)(g) | 1,694,157 | 246,398 | |
SiTime Corp. (a) | 454,742 | 47,957 | |
SolarEdge Technologies, Inc. (a) | 29,363 | 8,775 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 138,577 | 11,499 | |
Teradyne, Inc. | 217,582 | 20,333 | |
Texas Instruments, Inc. | 456,336 | 82,350 | |
Wolfspeed, Inc. (a)(b) | 377,263 | 34,301 | |
4,597,050 | |||
Software - 10.9% | |||
Adobe, Inc. (a) | 581,560 | 200,597 | |
Atlassian Corp. PLC (a) | 23,878 | 3,141 | |
Autodesk, Inc. (a) | 380,509 | 76,844 | |
Bill.Com Holdings, Inc. (a) | 4,363 | 525 | |
Clear Secure, Inc. (b) | 2,378 | 74 | |
Crowdstrike Holdings, Inc. (a) | 317,953 | 37,407 | |
Datadog, Inc. Class A (a) | 98,054 | 7,431 | |
Elastic NV (a) | 170,585 | 10,438 | |
HubSpot, Inc. (a) | 119,769 | 36,294 | |
Intuit, Inc. | 220,992 | 90,074 | |
Microsoft Corp. | 10,259,602 | 2,617,635 | |
Nutanix, Inc. Class A (a)(g) | 11,904,246 | 336,414 | |
Oracle Corp. | 3,280,324 | 272,365 | |
Paycom Software, Inc. (a) | 49,636 | 16,832 | |
Paylocity Holding Corp. (a) | 78,586 | 17,118 | |
Pine Labs Private Ltd. (a)(c)(d) | 4,120 | 2,227 | |
RingCentral, Inc. (a) | 173,747 | 6,439 | |
Riskified Ltd. (a)(b) | 1,004,797 | 5,185 | |
Salesforce.com, Inc. (a) | 4,407,952 | 706,374 | |
Samsara, Inc. (b) | 210,160 | 2,003 | |
SentinelOne, Inc. (a)(b) | 247,797 | 3,593 | |
ServiceNow, Inc. (a) | 180,420 | 75,109 | |
Stripe, Inc. Class B (a)(c)(d) | 205,500 | 5,216 | |
UiPath, Inc. Class A (a)(b) | 3,381,084 | 42,162 | |
Workday, Inc. Class A (a) | 93,850 | 15,757 | |
Zoom Video Communications, Inc. Class A (a) | 377,319 | 28,461 | |
Zscaler, Inc. (a)(b) | 260,140 | 34,716 | |
4,650,431 | |||
Technology Hardware, Storage & Peripherals - 12.4% | |||
Apple, Inc. | 33,397,568 | 4,943,850 | |
Pure Storage, Inc. Class A (a) | 11,619,741 | 339,180 | |
Samsung Electronics Co. Ltd. | 416,325 | 20,227 | |
5,303,257 | |||
TOTAL INFORMATION TECHNOLOGY | 16,321,601 | ||
MATERIALS - 1.5% | |||
Chemicals - 0.8% | |||
Albemarle Corp. | 103,800 | 28,855 | |
CF Industries Holdings, Inc. | 1,054,633 | 114,101 | |
Cibus Corp.: | |||
Series C (a)(c)(d)(e) | 4,523,810 | 8,821 | |
Series D (a)(c)(d)(e) | 2,741,040 | 5,345 | |
Series E (a)(c)(d)(e) | 412,624 | 805 | |
Corteva, Inc. | 1,909,142 | 128,218 | |
DuPont de Nemours, Inc. | 503,189 | 35,480 | |
The Mosaic Co. | 790,753 | 40,566 | |
362,191 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 201,090 | 10,704 | |
Metals & Mining - 0.7% | |||
Freeport-McMoRan, Inc. | 6,022,846 | 239,709 | |
Rio Tinto PLC sponsored ADR (b) | 621,764 | 42,678 | |
282,387 | |||
TOTAL MATERIALS | 655,282 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
American Tower Corp. | 224,022 | 49,565 | |
Equinix, Inc. | 19,796 | 13,672 | |
Simon Property Group, Inc. | 248,124 | 29,636 | |
92,873 | |||
Real Estate Management & Development - 0.1% | |||
CBRE Group, Inc. (a) | 387,400 | 30,837 | |
WeWork, Inc. (a) | 3,403,026 | 9,392 | |
40,229 | |||
TOTAL REAL ESTATE | 133,102 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (f) | 270,242 | 23,662 | |
TOTAL COMMON STOCKS (Cost $17,385,885) | 41,454,314 | ||
Preferred Stocks - 2.5% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 2.4% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 403,450 | 74,239 | |
Reddit, Inc.: | |||
Series B(a)(c)(d) | 384,303 | 15,795 | |
Series E(a)(c)(d) | 24,203 | 995 | |
Series F(a)(c)(d) | 114,996 | 4,726 | |
95,755 | |||
CONSUMER DISCRETIONARY - 0.2% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(c)(d) | 154,174 | 672 | |
Series C(a)(c)(d) | 606,658 | 2,645 | |
Series D(a)(c)(d) | 1,071,300 | 4,671 | |
7,988 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(c)(d) | 7,000 | 2,485 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(c)(d)(e) | 56,343 | 14,823 | |
Series 4(a)(c)(d)(e) | 5,142 | 1,292 | |
Series 5(a)(c)(d)(e) | 20,652 | 4,856 | |
23,456 | |||
Internet & Direct Marketing Retail - 0.1% | |||
Instacart, Inc.: | |||
Series H(a)(c)(d) | 72,310 | 3,189 | |
Series I(a)(c)(d) | 32,756 | 1,445 | |
Meesho Series F (a)(c)(d) | 309,354 | 23,180 | |
27,814 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Freenome, Inc.: | |||
Series C(a)(c)(d) | 900,884 | 8,252 | |
Series D(c)(d) | 502,404 | 4,602 | |
Laronde, Inc. Series B (a)(c)(d) | 344,496 | 6,973 | |
Odyssey Therapeutics Series B (c)(d) | 1,298,749 | 8,208 | |
28,035 | |||
TOTAL CONSUMER DISCRETIONARY | 87,293 | ||
CONSUMER STAPLES - 0.1% | |||
Food & Staples Retailing - 0.1% | |||
GoBrands, Inc.: | |||
Series G(a)(c)(d) | 125,688 | 19,835 | |
Series H(a)(c)(d) | 104,311 | 16,461 | |
36,296 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(c)(d) | 1,060,308 | 6,691 | |
Series D(a)(c)(d) | 852,431 | 5,319 | |
Bowery Farming, Inc. Series C1 (a)(c)(d) | 130,916 | 2,972 | |
14,982 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(c)(d) | 22,033 | 98 | |
TOTAL CONSUMER STAPLES | 51,376 | ||
FINANCIALS - 0.1% | |||
Diversified Financial Services - 0.1% | |||
Apogee Therapeutics Series B (c)(d) | 1,648,084 | 5,446 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(c)(d) | 416,094 | 4,506 | |
Series C(a)(c)(d) | 559,977 | 6,065 | |
Series D1(c)(d) | 754,242 | 8,168 | |
Series D2(c)(d) | 138,091 | 1,496 | |
25,681 | |||
HEALTH CARE - 0.9% | |||
Biotechnology - 0.7% | |||
Altos Labs, Inc. Series B (c)(d) | 485,428 | 9,295 | |
Ankyra Therapeutics Series B (a)(c)(d) | 1,356,730 | 5,359 | |
Asimov, Inc. Series B (a)(c)(d) | 82,174 | 4,815 | |
Bright Peak Therapeutics AG Series B (a)(c)(d) | 1,272,915 | 3,526 | |
Caris Life Sciences, Inc. Series D (a)(c)(d) | 1,235,035 | 6,916 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(c)(d) | 19,720 | 4,018 | |
Series D2(c)(d) | 6,341 | 1,292 | |
Cleerly, Inc. Series C (c)(d) | 983,054 | 11,433 | |
Deep Genomics, Inc. Series C (a)(c)(d) | 682,293 | 6,843 | |
Dianthus Therapeutics, Inc. Series A (c)(d) | 1,162,827 | 4,341 | |
Element Biosciences, Inc.: | |||
Series B(a)(c)(d) | 1,096,312 | 14,976 | |
Series C(a)(c)(d) | 480,109 | 6,558 | |
ElevateBio LLC Series C (a)(c)(d) | 1,534,100 | 7,015 | |
Fog Pharmaceuticals, Inc. Series D (c)(d) | 883,504 | 9,509 | |
Generate Biomedicines Series B (c)(d) | 820,747 | 6,673 | |
Inscripta, Inc.: | |||
Series D(a)(c)(d) | 1,690,173 | 10,547 | |
Series E(a)(c)(d) | 1,086,476 | 6,780 | |
Intarcia Therapeutics, Inc.: | |||
Series CC(a)(c)(d) | 1,051,411 | 0 | |
Series DD(a)(c)(d) | 1,543,687 | 0 | |
Korro Bio, Inc.: | |||
Series B1(c)(d) | 1,436,500 | 2,744 | |
Series B2(c)(d) | 1,348,657 | 2,576 | |
LifeMine Therapeutics, Inc. Series C (c)(d) | 7,794,524 | 13,329 | |
National Resilience, Inc.: | |||
Series B(a)(c)(d) | 1,277,345 | 77,573 | |
Series C(a)(c)(d) | 379,000 | 23,017 | |
Quell Therapeutics Ltd. Series B (c)(d) | 3,870,630 | 4,722 | |
SalioGen Therapeutics, Inc. Series B (c)(d) | 51,683 | 3,854 | |
Saluda Medical Pty Ltd. Series D (c)(d) | 581,414 | 6,710 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(c)(d) | 2,497,760 | 4,196 | |
Series B1(a)(c)(d) | 1,332,116 | 2,238 | |
T-Knife Therapeutics, Inc. Series B (a)(c)(d) | 995,165 | 3,811 | |
Treeline Biosciences: | |||
Series A(a)(c)(d) | 1,347,260 | 11,600 | |
Series A1(c)(d) | 464,216 | 3,997 | |
280,263 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(c)(d) | 927,374 | 35,871 | |
Kardium, Inc. Series D6 (a)(c)(d) | 5,899,008 | 4,391 | |
40,262 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc. Series B (a)(c)(d) | 2,899,016 | 2,638 | |
Conformal Medical, Inc. Series C (a)(c)(d) | 1,067,180 | 3,799 | |
Scorpion Therapeutics, Inc. Series B (a)(c)(d) | 1,325,354 | 1,657 | |
8,094 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(c)(d) | 101,470 | 4,874 | |
Series E1(c)(d) | 66,006 | 3,170 | |
DNA Script: | |||
Series B(c)(d) | 22 | 17 | |
Series C(a)(c)(d) | 10,882 | 8,408 | |
Omada Health, Inc. Series E (c)(d) | 2,558,060 | 7,828 | |
PrognomIQ, Inc.: | |||
Series A5(a)(c)(d) | 372,687 | 969 | |
Series B(a)(c)(d) | 1,111,446 | 2,890 | |
Series C(c)(d) | 290,995 | 757 | |
Wugen, Inc. Series B (a)(c)(d) | 493,529 | 2,576 | |
31,489 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(c)(d) | 16,803 | 3,722 | |
Series C(a)(c)(d) | 13,100 | 2,902 | |
Galvanize Therapeutics Series B (c)(d) | 4,342,265 | 7,338 | |
Nohla Therapeutics, Inc. Series B (a)(c)(d) | 9,124,200 | 0 | |
13,962 | |||
TOTAL HEALTH CARE | 374,070 | ||
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.4% | |||
Space Exploration Technologies Corp. Series G (a)(c)(d) | 216,276 | 151,393 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(c)(d) | 54,111 | 4,460 | |
Series B, 6.00%(c)(d) | 71,156 | 5,865 | |
10,325 | |||
TOTAL INDUSTRIALS | 161,718 | ||
INFORMATION TECHNOLOGY - 0.4% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. Series E (a)(c)(d) | 4,067,736 | 2,237 | |
Menlo Micro, Inc. Series C (c)(d) | 4,423,488 | 4,689 | |
6,926 | |||
IT Services - 0.0% | |||
AppNexus, Inc. Series E (Escrow) (a)(c)(d) | 923,523 | 29 | |
Semiconductors & Semiconductor Equipment - 0.2% | |||
Alif Semiconductor Series C (c)(d) | 190,608 | 3,299 | |
Astera Labs, Inc.: | |||
Series A(c)(d) | 316,595 | 3,220 | |
Series B(c)(d) | 53,906 | 548 | |
Series C(a)(c)(d) | 1,811,000 | 18,418 | |
Series D(c)(d) | 1,074,629 | 10,929 | |
GaN Systems, Inc.: | |||
Series F1(c)(d) | 287,190 | 1,582 | |
Series F2(c)(d) | 151,648 | 836 | |
SiMa.ai: | |||
Series B(a)(c)(d) | 1,596,216 | 9,960 | |
Series B1(c)(d) | 106,922 | 781 | |
Xsight Labs Ltd. Series D (a)(c)(d) | 787,863 | 5,547 | |
55,120 | |||
Software - 0.2% | |||
Bolt Technology OU Series E (c)(d) | 72,621 | 9,291 | |
Databricks, Inc.: | |||
Series G(a)(c)(d) | 250,296 | 11,826 | |
Series H(a)(c)(d) | 273,171 | 12,907 | |
Dataminr, Inc. Series D (a)(c)(d) | 1,773,901 | 32,338 | |
Evozyne LLC Series A (a)(c)(d) | 444,700 | 6,933 | |
Skyryse, Inc. Series B (a)(c)(d) | 568,445 | 11,431 | |
Stripe, Inc. Series H (a)(c)(d) | 88,200 | 2,239 | |
Tenstorrent, Inc. Series C1 (a)(c)(d) | 92,100 | 4,922 | |
91,887 | |||
TOTAL INFORMATION TECHNOLOGY | 153,962 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(c)(d) | 186,833 | 8,635 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 1,704,625 | 55,281 | |
TOTAL MATERIALS | 63,916 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(c)(d) | 80,057 | 2,595 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,016,366 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(c)(d) | 17,893,728 | 383 | |
Waymo LLC Series A2 (a)(c)(d) | 44,767 | 2,063 | |
2,446 | |||
Internet & Direct Marketing Retail - 0.1% | |||
Circle Internet Financial Ltd. Series E (c) | 604,608 | 29,703 | |
TOTAL CONSUMER DISCRETIONARY | 32,149 | ||
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(c)(d) | 46,864 | 10,142 | |
Faraday Pharmaceuticals, Inc. Series B (a)(c)(d) | 641,437 | 686 | |
10,828 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Pine Labs Private Ltd.: | |||
Series 1(a)(c)(d) | 9,846 | 5,322 | |
Series A(a)(c)(d) | 2,460 | 1,330 | |
Series B(a)(c)(d) | 2,677 | 1,447 | |
Series B2(a)(c)(d) | 2,165 | 1,170 | |
Series C(a)(c)(d) | 4,028 | 2,177 | |
Series C1(a)(c)(d) | 848 | 458 | |
Series D(a)(c)(d) | 907 | 490 | |
12,394 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 55,371 | ||
TOTAL PREFERRED STOCKS (Cost $971,056) | 1,071,737 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 10/27/25 (c)(d)(i) | 7,504 | 6,680 | |
4% 5/22/27 (c)(d) | 3,596 | 3,095 | |
4% 6/12/27 (c)(d) | 743 | 639 | |
(Cost $11,843) | 10,414 | ||
Preferred Securities - 0.1% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/23 (c)(d)(j) | 13,682 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (c)(d)(k) | 8,368 | 8,368 | |
TOTAL HEALTH CARE | 8,368 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. 0% 1/29/23 (c)(d) | 1,732 | 1,630 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
GaN Systems, Inc. 0% (c)(d)(k) | 6,731 | 4,258 | |
Software - 0.1% | |||
Tenstorrent, Inc. 0% (c)(d)(k) | 5,120 | 4,602 | |
TOTAL INFORMATION TECHNOLOGY | 10,490 | ||
TOTAL PREFERRED SECURITIES (Cost $35,633) | 18,858 | ||
Money Market Funds - 0.9% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 3.86% (l) | 93,293,879 | 93,313 | |
Fidelity Securities Lending Cash Central Fund 3.86% (l)(m) | 302,683,705 | 302,714 | |
TOTAL MONEY MARKET FUNDS (Cost $396,023) | 396,027 | ||
TOTAL INVESTMENT IN SECURITIES - 100.6% (Cost $18,800,440) | 42,951,350 |
NET OTHER ASSETS (LIABILITIES) - (0.6)% | (275,618) |
NET ASSETS - 100.0% | 42,675,732 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(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 $1,771,270,000 or 4.2% of net assets. |
(d) | Level 3 security |
(e) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(f) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $253,874,000 or 0.6% of net assets. |
(g) | Affiliated company |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(j) | Non-income producing - Security is in default. |
(k) | Security is perpetual in nature with no stated maturity date. |
(l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(m) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Adimab LLC | 9/17/14 - 6/05/15 | 47,869 |
AgBiome LLC Series C | 6/29/18 | 6,716 |
AgBiome LLC Series D | 9/03/21 | 5,053 |
Aledade, Inc. Series B1 | 5/07/21 | 3,885 |
Aledade, Inc. Series E1 | 5/20/22 | 3,288 |
Alif Semiconductor Series C | 3/08/22 | 3,869 |
Altos Labs, Inc. Series B | 7/22/22 | 9,295 |
Ankyra Therapeutics Series B | 8/26/21 | 7,641 |
Ant International Co. Ltd. Class C | 5/16/18 | 9,303 |
Apogee Therapeutics Series B | 11/15/22 | 5,446 |
AppNexus, Inc. Series E (Escrow) | 8/01/14 | 0 |
Asimov, Inc. Series B | 10/29/21 | 7,616 |
Astera Labs, Inc. Series A | 5/17/22 | 3,220 |
Astera Labs, Inc. Series B | 5/17/22 | 548 |
Astera Labs, Inc. Series C | 8/24/21 | 6,088 |
Astera Labs, Inc. Series D | 5/17/22 | 10,928 |
Beta Technologies, Inc. Series A | 4/09/21 | 3,965 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 7,341 |
Bird Global, Inc. | 5/11/21 | 9,612 |
Blink Health LLC Series A1 | 12/30/20 | 4,699 |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 35,403 |
Bolt Technology OU Series E | 1/03/22 | 18,867 |
Boundless Bio, Inc. Series B | 4/23/21 | 3,914 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 7,888 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 4,972 |
ByteDance Ltd. Series E1 | 11/18/20 | 44,208 |
Caris Life Sciences, Inc. | 10/06/22 | 5,190 |
Caris Life Sciences, Inc. Series D | 5/11/21 | 10,004 |
Castle Creek Biosciences, Inc. Series D1 | 4/19/22 | 4,240 |
Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 1,087 |
Castle Creek Pharmaceutical Holdings, Inc. Series A4 | 9/29/16 | 15,506 |
Castle Creek Pharmaceutical Holdings, Inc. Series B | 10/09/18 | 6,920 |
Castle Creek Pharmaceutical Holdings, Inc. Series C | 12/09/19 | 5,395 |
Cibus Corp. Series C | 2/16/18 | 9,500 |
Cibus Corp. Series D | 5/10/19 | 3,426 |
Cibus Corp. Series E | 6/23/21 | 726 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 9,813 |
Cleerly, Inc. Series C | 7/08/22 | 11,581 |
Conformal Medical, Inc. Series C | 7/24/20 | 3,913 |
Cyclerion Therapeutics, Inc. | 4/02/19 | 8,052 |
Databricks, Inc. Series G | 2/01/21 | 14,798 |
Databricks, Inc. Series H | 8/31/21 | 20,074 |
Dataminr, Inc. Series D | 2/18/15 - 3/06/15 | 22,617 |
Deep Genomics, Inc. Series C | 7/21/21 | 9,894 |
Diamond Foundry, Inc. Series C | 3/15/21 | 40,911 |
Dianthus Therapeutics, Inc. Series A | 4/06/22 | 5,054 |
Discord, Inc. Series I | 9/15/21 | 3,854 |
DNA Script | 12/17/21 | 1,788 |
DNA Script Series B | 12/17/21 | 18 |
DNA Script Series C | 10/01/21 | 9,466 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 12,746 |
Element Biosciences, Inc. Series B | 12/13/19 | 5,745 |
Element Biosciences, Inc. Series C | 6/21/21 | 9,869 |
ElevateBio LLC Series C | 3/09/21 | 6,436 |
Enevate Corp. Series E | 1/29/21 | 4,510 |
Enevate Corp. 0% 1/29/23 | 1/29/21 | 1,732 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 29,786 |
Evozyne LLC Series A | 4/09/21 | 9,992 |
Fanatics, Inc. Class A | 8/13/20 - 10/24/22 | 21,636 |
Faraday Pharmaceuticals, Inc. Series B | 12/30/19 | 843 |
Farmers Business Network, Inc. Series G | 9/15/21 | 11,613 |
Fog Pharmaceuticals, Inc. Series D | 11/17/22 | 9,509 |
Freenome, Inc. Series C | 8/14/20 | 5,958 |
Freenome, Inc. Series D | 11/22/21 | 3,789 |
Galvanize Therapeutics Series B | 3/29/22 | 7,518 |
GaN Systems, Inc. Series F1 | 11/30/21 | 2,435 |
GaN Systems, Inc. Series F2 | 11/30/21 | 1,286 |
GaN Systems, Inc. 0% | 11/30/21 | 6,731 |
Generate Biomedicines Series B | 11/02/21 | 9,726 |
GoBrands, Inc. Series G | 3/02/21 | 31,386 |
GoBrands, Inc. Series H | 7/22/21 | 40,524 |
Inscripta, Inc. Series D | 11/13/20 | 7,724 |
Inscripta, Inc. Series E | 3/30/21 | 9,594 |
Instacart, Inc. Series H | 11/13/20 | 4,339 |
Instacart, Inc. Series I | 2/26/21 | 4,095 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 14,331 |
Intarcia Therapeutics, Inc. Series DD | 3/17/14 | 50,000 |
Intarcia Therapeutics, Inc. 6% 7/18/23 | 2/26/19 | 13,682 |
JUUL Labs, Inc. Class A | 7/06/18 | 1,299 |
JUUL Labs, Inc. Series E | 7/06/18 | 650 |
Kardium, Inc. Series D6 | 12/30/20 | 5,992 |
Kardium, Inc. 0% | 12/30/20 | 8,368 |
Korro Bio, Inc. Series B1 | 12/17/21 | 3,749 |
Korro Bio, Inc. Series B2 | 12/17/21 | 3,749 |
Laronde, Inc. Series B | 8/13/21 | 9,646 |
LifeMine Therapeutics, Inc. Series C | 2/15/22 | 15,874 |
Meesho Series F | 9/21/21 | 23,719 |
Menlo Micro, Inc. Series C | 2/09/22 | 5,863 |
MOD Super Fast Pizza Holdings LLC Series 3 | 11/03/16 | 7,719 |
MOD Super Fast Pizza Holdings LLC Series 4 | 12/14/17 | 720 |
MOD Super Fast Pizza Holdings LLC Series 5 | 5/15/19 | 2,943 |
National Resilience, Inc. Series B | 12/01/20 | 17,449 |
National Resilience, Inc. Series C | 6/28/21 | 16,831 |
Neutron Holdings, Inc. | 2/04/21 | 15 |
Neutron Holdings, Inc. Series 1D | 1/25/19 | 4,339 |
Neutron Holdings, Inc. 4% 10/27/25 | 10/29/21 | 7,504 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 3,596 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 743 |
Nohla Therapeutics, Inc. Series B | 5/01/18 | 3,209 |
Oddity Tech Ltd. | 1/06/22 | 4,436 |
Odyssey Therapeutics Series B | 9/30/22 | 8,203 |
Omada Health, Inc. Series E | 12/22/21 | 15,336 |
Paragon Biosciences Emalex Capital, Inc. Series B | 9/18/19 | 4,240 |
Paragon Biosciences Emalex Capital, Inc. Series C | 2/26/21 | 5,992 |
Paragon Biosciences Emalex Capital, Inc. Series D1 | 10/21/22 | 8,168 |
Paragon Biosciences Emalex Capital, Inc. Series D2 | 5/18/22 | 1,190 |
Pine Labs Private Ltd. | 6/30/21 | 1,536 |
Pine Labs Private Ltd. Series 1 | 6/30/21 | 3,671 |
Pine Labs Private Ltd. Series A | 6/30/21 | 917 |
Pine Labs Private Ltd. Series B | 6/30/21 | 998 |
Pine Labs Private Ltd. Series B2 | 6/30/21 | 807 |
Pine Labs Private Ltd. Series C | 6/30/21 | 1,502 |
Pine Labs Private Ltd. Series C1 | 6/30/21 | 316 |
Pine Labs Private Ltd. Series D | 6/30/21 | 338 |
PrognomIQ, Inc. Series A5 | 8/20/20 | 225 |
PrognomIQ, Inc. Series B | 9/11/20 | 2,540 |
PrognomIQ, Inc. Series C | 2/16/22 | 890 |
Quell Therapeutics Ltd. Series B | 11/24/21 | 7,315 |
Rad Power Bikes, Inc. | 1/21/21 | 5,705 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 744 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 2,926 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 10,267 |
Reddit, Inc. Series B | 7/26/17 | 5,456 |
Reddit, Inc. Series E | 5/18/21 | 1,028 |
Reddit, Inc. Series F | 8/11/21 | 7,106 |
Redwood Materials Series C | 5/28/21 | 3,795 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 5,471 |
Saluda Medical Pty Ltd. Series D | 1/20/22 | 7,416 |
Saluda Medical Pty Ltd. warrants | 1/20/22 | 0 |
Scholar Rock Holding Corp. warrants 12/31/25 | 6/17/22 | 0 |
Scorpion Therapeutics, Inc. Series B | 1/08/21 | 3,207 |
SiMa.ai Series B | 5/10/21 | 8,184 |
SiMa.ai Series B1 | 4/25/22 | 758 |
Skyhawk Therapeutics, Inc. | 5/21/21 | 9,904 |
Skyryse, Inc. Series B | 10/21/21 | 14,029 |
Sonoma Biotherapeutics, Inc. Series B | 7/26/21 | 4,936 |
Sonoma Biotherapeutics, Inc. Series B1 | 7/26/21 | 3,949 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 4/06/17 | 38,201 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 16,753 |
SpringWorks Therapeutics, Inc. | 9/07/22 | 11,900 |
Stripe, Inc. Class B | 5/18/21 | 8,246 |
Stripe, Inc. Series H | 3/15/21 | 3,539 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 5,741 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 5,476 |
Tenstorrent, Inc. 0% | 4/23/21 | 5,120 |
The Beauty Health Co. | 12/08/20 | 28,847 |
The Oncology Institute, Inc. | 6/28/21 | 18,151 |
Tory Burch LLC Class A | 5/14/15 | 67,653 |
Tory Burch LLC Class B | 12/31/12 | 17,505 |
Treeline Biosciences Series A | 7/30/21 - 10/27/22 | 10,545 |
Treeline Biosciences Series A1 | 10/27/22 | 3,997 |
Waymo LLC Series A2 | 5/08/20 | 3,844 |
Wheels Up Experience, Inc. | 2/01/21 | 1,663 |
Wugen, Inc. Series B | 7/09/21 | 3,827 |
X Holdings I, Inc. | 10/27/21 | 8,414 |
Xsight Labs Ltd. Series D | 2/16/21 | 6,300 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 3.86% | 281,491 | 2,711,127 | 2,899,305 | 1,282 | - | - | 93,313 | 0.2% |
Fidelity Securities Lending Cash Central Fund 3.86% | 684,682 | 2,957,445 | 3,339,413 | 4,194 | - | - | 302,714 | 0.9% |
Total | 966,173 | 5,668,572 | 6,238,718 | 5,476 | - | - | 396,027 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
Atea Pharmaceuticals, Inc. | 38,238 | 40 | 11,018 | - | (89,919) | 76,881 | - |
Avis Budget Group, Inc. | 803,171 | - | 213,319 | - | 142,089 | (298,235) | - |
Axcella Health, Inc. | 6,027 | 2,475 | 405 | - | (172) | (5,204) | - |
BioXcel Therapeutics, Inc. | 34,070 | - | 2,106 | - | (1,559) | (8,076) | - |
Codiak Biosciences, Inc. | 15,271 | 587 | 438 | - | (370) | (14,033) | - |
EQRx, Inc. | - | 3,359 | 2,129 | - | 210 | (13,195) | 24,324 |
Infinera Corp. | 94,799 | 1,741 | 7,407 | - | (2,509) | (13,600) | - |
Invivyd, Inc. | - | - | - | - | - | - | - |
Invivyd, Inc. | 178,946 | - | - | - | - | (148,614) | - |
Invivyd, Inc. | 86,904 | 2,383 | 4,877 | - | (12,944) | (90,760) | - |
Ionis Pharmaceuticals, Inc. | 205,658 | 2,577 | 34,205 | - | 8,910 | 99,374 | - |
Kaleido Biosciences, Inc. | 8,455 | - | 708 | - | (29,701) | 21,954 | - |
Nutanix, Inc. Class A | 414,493 | 16,593 | 28,714 | - | 3,882 | (69,840) | 336,414 |
OptiNose, Inc. | 6,426 | 2,440 | 1,190 | - | (1,105) | 2,013 | - |
Presbia PLC | 16 | - | - | - | - | - | 16 |
Rigel Pharmaceuticals, Inc. | 25,645 | - | 10,107 | - | (42,420) | 28,047 | - |
Rubius Therapeutics, Inc. | 59,612 | 83 | 1,375 | - | (2,350) | (54,997) | - |
Seres Therapeutics, Inc. | 52,178 | 4,793 | 3,190 | - | 1,785 | (17,871) | - |
Sienna Biopharmaceuticals, Inc. | - | - | - | - | (476) | 476 | - |
Silicon Laboratories, Inc. | 480,477 | - | 118,890 | - | 49,087 | (164,276) | 246,398 |
SpringWorks Therapeutics, Inc. | 88,469 | 82,980 | 9,056 | - | (345) | (97,959) | - |
The Oncology Institute, Inc. | 10,602 | - | - | - | - | (8,043) | - |
Yumanity Therapeutics, Inc. | 1,620 | 283 | 88 | - | (34) | (3,218) | 1,011 |
Total | 2,611,077 | 120,334 | 449,222 | - | 22,059 | (779,176) | 608,163 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,192,071 | 4,052,449 | - | 139,622 |
Consumer Discretionary | 8,505,182 | 8,252,195 | 63,121 | 189,866 |
Consumer Staples | 1,693,652 | 1,642,079 | - | 51,573 |
Energy | 1,446,242 | 1,353,835 | 92,407 | - |
Financials | 687,017 | 529,954 | - | 157,063 |
Health Care | 6,413,533 | 5,922,857 | 71,719 | 418,957 |
Industrials | 2,221,840 | 1,697,652 | 69,624 | 454,564 |
Information Technology | 16,487,957 | 16,289,970 | 20,227 | 177,760 |
Materials | 719,198 | 640,311 | - | 78,887 |
Real Estate | 133,102 | 133,102 | - | - |
Utilities | 26,257 | - | 23,662 | 2,595 |
Corporate Bonds | 10,414 | - | - | 10,414 |
Preferred Securities | 18,858 | - | - | 18,858 |
Money Market Funds | 396,027 | 396,027 | - | - |
Total Investments in Securities: | 42,951,350 | 40,910,431 | 340,760 | 1,700,159 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 375,593 | |
Net Realized Gain (Loss) on Investment Securities | (86,678) | ||
Net Unrealized Gain (Loss) on Investment Securities | 172,646 | ||
Cost of Purchases | 7,341 | ||
Proceeds of Sales | (242) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (14,096) | ||
Ending Balance | $ | 454,564 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | 85,902 | |
Other Investments in Securities | |||
Beginning Balance | $ | 1,346,188 | |
Net Realized Gain (Loss) on Investment Securities | (8,747) | ||
Net Unrealized Gain (Loss) on Investment Securities | (310,364) | ||
Cost of Purchases | 199,225 | ||
Proceeds of Sales | (3,545) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 22,838 | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 1,245,595 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | (316,053) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2022 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $311,728) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $17,834,641) | $41,947,160 | |||
Fidelity Central Funds (cost $396,023) | 396,027 | |||
Other affiliated issuers (cost $569,776) | 608,163 | |||
Total Investment in Securities (cost $18,800,440) | $ | 42,951,350 | ||
Cash | 85 | |||
Foreign currency held at value (cost $2,278) | 2,597 | |||
Receivable for investments sold | 60,792 | |||
Receivable for fund shares sold | 7,103 | |||
Dividends receivable | 30,045 | |||
Interest receivable | 461 | |||
Distributions receivable from Fidelity Central Funds | 370 | |||
Prepaid expenses | 58 | |||
Other receivables | 1,984 | |||
Total assets | 43,054,845 | |||
Liabilities | ||||
Payable for investments purchased | $14,318 | |||
Payable for fund shares redeemed | 22,387 | |||
Accrued management fee | 27,313 | |||
Other affiliated payables | 3,495 | |||
Other payables and accrued expenses | 8,943 | |||
Collateral on securities loaned | 302,657 | |||
Total Liabilities | 379,113 | |||
Net Assets | $ | 42,675,732 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 16,230,963 | ||
Total accumulated earnings (loss) | 26,444,769 | |||
Net Assets | $ | 42,675,732 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Company : | ||||
Net Asset Value , offering price and redemption price per share ($34,900,124 ÷ 1,318,234 shares) | $ | 26.47 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($7,775,608 ÷ 292,462 shares) | $ | 26.59 |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2022 | |||
Investment Income | ||||
Dividends | $ | 258,152 | ||
Interest | 353 | |||
Income from Fidelity Central Funds (including $4,194 from security lending) | 5,476 | |||
Total Income | 263,981 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 259,393 | ||
Performance adjustment | 108,311 | |||
Transfer agent fees | 45,867 | |||
Accounting fees | 2,302 | |||
Custodian fees and expenses | 657 | |||
Independent trustees' fees and expenses | 180 | |||
Registration fees | 349 | |||
Audit | 199 | |||
Legal | 43 | |||
Interest | 11 | |||
Miscellaneous | 243 | |||
Total expenses before reductions | 417,555 | |||
Expense reductions | (1,713) | |||
Total expenses after reductions | 415,842 | |||
Net Investment income (loss) | (151,861) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of foreign taxes of $821) | 4,892,615 | |||
Affiliated issuers | 22,059 | |||
Foreign currency transactions | (361) | |||
Total net realized gain (loss) | 4,914,313 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $4,839) | (24,135,096) | |||
Affiliated issuers | (779,176) | |||
Unfunded commitments | 3,549 | |||
Assets and liabilities in foreign currencies | (49) | |||
Total change in net unrealized appreciation (depreciation) | (24,910,772) | |||
Net gain (loss) | (19,996,459) | |||
Net increase (decrease) in net assets resulting from operations | $ | (20,148,320) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2022 | Year ended November 30, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (151,861) | $ | (237,132) |
Net realized gain (loss) | 4,914,313 | 12,477,339 | ||
Change in net unrealized appreciation (depreciation) | (24,910,772) | 5,641,278 | ||
Net increase (decrease) in net assets resulting from operations | (20,148,320) | 17,881,485 | ||
Distributions to shareholders | (6,433,347) | (5,205,937) | ||
Share transactions - net increase (decrease) | (581,831) | (4,817,747) | ||
Total increase (decrease) in net assets | (27,163,498) | 7,857,801 | ||
Net Assets | ||||
Beginning of period | 69,839,230 | 61,981,429 | ||
End of period | $ | 42,675,732 | $ | 69,839,230 |
Fidelity® Growth Company Fund |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 41.75 | $ | 34.49 | $ | 21.54 | $ | 18.79 | $ | 18.53 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | (.09) | (.14) D | (.10) | (.04) | (.01) E | |||||
Net realized and unrealized gain (loss) | (11.30) | 10.31 | 13.87 | 3.81 | 1.12 | |||||
Total from investment operations | (11.39) | 10.17 | 13.77 | 3.77 | 1.11 | |||||
Distributions from net realized gain | (3.89) | (2.91) | (.82) | (1.02) | (.85) | |||||
Total distributions | (3.89) | (2.91) | (.82) | (1.02) | (.85) | |||||
Net asset value, end of period | $ | 26.47 | $ | 41.75 | $ | 34.49 | $ | 21.54 | $ | 18.79 |
Total Return F | (29.90)% | 31.76% | 66.23% | 22.05% | 6.19% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | .86% | .79% | .83% | .83% | .85% | |||||
Expenses net of fee waivers, if any | .86% | .79% | .83% | .83% | .85% | |||||
Expenses net of all reductions | .86% | .79% | .83% | .83% | .85% | |||||
Net investment income (loss) | (.32)% | (.38)% D | (.41)% | (.20)% | (.07)% E | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 34,900 | $ | 53,845 | $ | 43,533 | $ | 28,861 | $ | 25,615 |
Portfolio turnover rate I,J | 14% | 16% | 18% | 16% | 18% |
Fidelity® Growth Company Fund Class K |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 A | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 41.89 | $ | 34.57 | $ | 21.57 | $ | 18.80 | $ | 18.52 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | (.07) | (.12) D | (.08) | (.02) | - E,F | |||||
Net realized and unrealized gain (loss) | (11.34) | 10.35 | 13.90 | 3.81 | 1.13 | |||||
Total from investment operations | (11.41) | 10.23 | 13.82 | 3.79 | 1.13 | |||||
Distributions from net investment income | - | - | - | - | - E | |||||
Distributions from net realized gain | (3.89) | (2.91) | (.82) | (1.02) | (.85) | |||||
Total distributions | (3.89) | (2.91) | (.82) | (1.02) | (.85) | |||||
Net asset value, end of period | $ | 26.59 | $ | 41.89 | $ | 34.57 | $ | 21.57 | $ | 18.80 |
Total Return G | (29.85)% | 31.87% | 66.37% | 22.15% | 6.28% | |||||
Ratios to Average Net Assets C,H,I | ||||||||||
Expenses before reductions | .79% | .73% | .75% | .75% | .76% | |||||
Expenses net of fee waivers, if any | .79% | .72% | .75% | .75% | .76% | |||||
Expenses net of all reductions | .79% | .72% | .75% | .75% | .76% | |||||
Net investment income (loss) | (.26)% | (.32)% D | (.33)% | (.12)% | .02% F | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 7,776 | $ | 15,994 | $ | 18,449 | $ | 14,772 | $ | 15,468 |
Portfolio turnover rate J,K | 14% | 16% | 18% | 16% | 18% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $1,670,887 | Recovery value | Recovery value | $0.00 - $0.03 / $0.00 | Increase |
Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 5.5 - 23.0 / 7.4 | Increase | ||
Enterprise value/Revenue multiple (EV/R) | 2.0 - 24.0 / 7.4 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 7.5 | Increase | |||
Premium rate | 5.0% | Increase | |||
Probability rate | 5.1% - 80.0% / 37.8% | Increase | |||
Market approach | Parity price | $0.79 | Increase | ||
Discount rate | 5.3% - 53.6% / 25.1% | Decrease | |||
Transaction price | $0.02 - $215.03 / $38.66 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Discounted cash flow | Discount rate | 14.0% | Decrease | ||
Weighted average cost of capital (WACC) | 25.0% - 37.0% / 32.3% | Decrease | |||
Exit multiple | 1.8 - 5.5 / 3.3 | Increase | |||
Book value | Book value multiple | 1.0 - 1.5 / 1.1 | Increase | ||
Black scholes | Volatility | 55.0% - 100.0% / 70.8% | Increase | ||
Term | 2.0 - 4.0 / 2.7 | Increase | |||
Corporate Bonds | $10,414 | Market comparable | Discount rate | 29.2% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 2.9 | Increase | |||
Probability rate | 10.0% - 50.0% / 33.3% | Increase | |||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 1.1 | Increase | |||
Preferred Securities | $18,858 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/Revenue multiple (EV/R) | 4.8 | Increase | ||
Probability rate | 10.0% - 90.0% / 50.0% | Increase | |||
Market approach | Discount rate | 10.0% - 50.0% / 20.5% | Decrease | ||
Transaction price | $1.11 - $100.00 / $88.96 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Black scholes | Volatility | 70.0% - 100.0% / 77.8% | Increase | ||
Term | 2.0 - 3.0 / 2.3 | Increase |
Fidelity Growth Company Fund | $1,602 |
Gross unrealized appreciation | $ 27,106,920 |
Gross unrealized depreciation | (3,117,378) |
Net unrealized appreciation (depreciation) | $23,989,542 |
Tax Cost | $18,961,808 |
Undistributed long-term capital gain | $2,599,247 |
Net unrealized appreciation (depreciation) on securities and other investments | $23,989,449 |
November 30, 2022 | November 30, 2021 | |
Long-term Capital Gains | $6,433,347 | $5,205,937 |
$ Amount | % of Net Assets | |
Fidelity Growth Company Fund | 202,457 | .47 |
Purchases ($) | Sales ($) | |
Fidelity Growth Company Fund | 7,040,172 | 11,307,909 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Company Fund | 94,219 | 1,682,202 | 2,666,231 | Growth Company and Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Company Fund | 156,803 | 4,317,662 | 5,548,868 | Growth Company and Class K |
Amount | % of Class-Level Average Net Assets | |
Growth Company | $41,753 | .11 |
Class K | 4,114 | .04 |
$45,867 |
% of Average Net Assets | |
Fidelity Growth Company Fund | - A |
Amount | |
Fidelity Growth Company Fund | $254 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Company Fund | Borrower | $43,434 | .32% | $11 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company Fund | 775,656 | 1,294,721 | 330,851 |
Amount ($) | |
Fidelity Growth Company Fund | 2 |
Amount | |
Fidelity Growth Company Fund | $91 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Company Fund | $449 | $26 | $1,666 |
Year ended November 30, 2022 | Year ended November 30, 2021 | |
Fidelity Growth Company Fund | ||
Distributions to shareholders | ||
Growth Company | $ 4,986,906 | $3,659,612 |
Class K | 1,446,441 | 1,546,325 |
Total | $6,433,347 | $5,205,937 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2022 | Year ended November 30, 2021 | Year ended November 30, 2022 | Year ended November 30, 2021 | |
Fidelity Growth Company Fund | ||||
Growth Company | ||||
Shares sold | 159,105 | 130,556 | $ 4,503,361 | $ 4,765,673 |
Reinvestment of distributions | 123,271 | 101,682 | 4,540,077 | 3,344,306 |
Shares redeemed | (253,813) | (204,725) | (7,313,072) | (7,392,548) |
Net increase (decrease) | 28,563 | 27,513 | $1,730,366 | $717,431 |
Class K | ||||
Shares sold | 40,502 | 75,170 | $ 1,203,828 | $ 2,721,138 |
Reinvestment of distributions | 39,098 | 46,864 | 1,445,449 | 1,545,583 |
Shares redeemed | (168,994) | (273,816) | (4,961,474) | (9,801,899) |
Net increase (decrease) | (89,394) | (151,782) | $(2,312,197) | $(5,535,178) |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity Growth Company Fund | 15% |
Fund | % of shares held |
Fidelity Growth Company Fund | 21% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® Growth Company Fund | ||||||||||
Fidelity® Growth Company Fund | .89% | |||||||||
Actual | $ 1,000 | $ 992.90 | $ 4.45 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.61 | $ 4.51 | |||||||
Class K | .83% | |||||||||
Actual | $ 1,000 | $ 993.60 | $ 4.15 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.91 | $ 4.20 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity® Series Growth Company Fund | -28.60% | 16.16% | 16.46% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Series Growth Company Fund, on November 07, 2013, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Apple, Inc. | 9.4 | |
NVIDIA Corp. | 6.3 | |
Microsoft Corp. | 5.2 | |
Amazon.com, Inc. | 4.8 | |
lululemon athletica, Inc. | 4.2 | |
Alphabet, Inc. Class A | 3.9 | |
Alphabet, Inc. Class C | 2.1 | |
Salesforce.com, Inc. | 1.6 | |
Tesla, Inc. | 1.6 | |
Visa, Inc. Class A | 1.3 | |
40.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 35.9 | |
Consumer Discretionary | 19.9 | |
Health Care | 16.3 | |
Communication Services | 8.0 | |
Industrials | 5.9 | |
Consumer Staples | 4.6 | |
Energy | 4.0 | |
Materials | 2.0 | |
Financials | 1.8 | |
Real Estate | 0.4 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 5.4% |
Common Stocks - 97.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 7.9% | |||
Diversified Telecommunication Services - 0.0% | |||
Starry Group Holdings, Inc. Class A (a) | 261,817 | 49,222 | |
Entertainment - 0.9% | |||
Electronic Arts, Inc. | 5,354 | 700,196 | |
Netflix, Inc. (a) | 286,029 | 87,390,440 | |
Roblox Corp. (a)(b) | 117,700 | 3,739,329 | |
Roku, Inc. Class A (a) | 155,976 | 9,260,295 | |
The Walt Disney Co. (a) | 69,776 | 6,828,977 | |
107,919,237 | |||
Interactive Media & Services - 6.4% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,813,880 | 486,153,741 | |
Class C (a) | 2,656,860 | 269,538,447 | |
Epic Games, Inc. (a)(c)(d) | 11,800 | 9,992,830 | |
IAC, Inc. (a) | 13,500 | 700,515 | |
Meta Platforms, Inc. Class A (a) | 181,630 | 21,450,503 | |
Snap, Inc. Class A (a) | 681,881 | 7,030,193 | |
Vimeo, Inc. (a) | 290,920 | 1,245,138 | |
Zoominfo Technologies, Inc. (a) | 77,500 | 2,216,500 | |
798,327,867 | |||
Media - 0.0% | |||
The Trade Desk, Inc. (a) | 12,100 | 630,894 | |
Wireless Telecommunication Services - 0.6% | |||
T-Mobile U.S., Inc. (a) | 535,253 | 81,069,419 | |
TOTAL COMMUNICATION SERVICES | 987,996,639 | ||
CONSUMER DISCRETIONARY - 19.6% | |||
Auto Components - 0.0% | |||
Mobileye Global, Inc. | 105,300 | 3,002,103 | |
Automobiles - 2.1% | |||
Neutron Holdings, Inc. (a)(c)(d) | 438,358 | 9,381 | |
Rad Power Bikes, Inc. (a)(c)(d) | 249,183 | 1,086,438 | |
Rivian Automotive, Inc. | 2,056,135 | 65,878,565 | |
Tesla, Inc. (a) | 998,055 | 194,321,309 | |
261,295,693 | |||
Hotels, Restaurants & Leisure - 1.7% | |||
Airbnb, Inc. Class A (a) | 148,500 | 15,167,790 | |
Booking Holdings, Inc. (a) | 37,472 | 77,921,150 | |
Chipotle Mexican Grill, Inc. (a) | 13,370 | 21,752,455 | |
Dutch Bros, Inc. (a)(b) | 42,100 | 1,588,854 | |
Expedia, Inc. (a) | 84,700 | 9,049,348 | |
Hyatt Hotels Corp. Class A (a) | 8,383 | 840,983 | |
Marriott International, Inc. Class A | 145,350 | 24,033,623 | |
McDonald's Corp. | 5,825 | 1,589,002 | |
Penn Entertainment, Inc. (a) | 761,200 | 26,786,628 | |
Shake Shack, Inc. Class A (a) | 35,636 | 1,874,454 | |
Sonder Holdings, Inc. (a)(b) | 1,368,972 | 2,423,080 | |
Sonder Holdings, Inc.: | |||
rights (a)(d) | 14,240 | 10,110 | |
rights (a)(d) | 14,240 | 8,544 | |
rights (a)(d) | 14,239 | 7,404 | |
rights (a)(d) | 14,239 | 6,408 | |
rights (a)(d) | 14,238 | 5,553 | |
rights (a)(d) | 14,238 | 4,983 | |
Starbucks Corp. | 171,953 | 17,573,597 | |
Sweetgreen, Inc. Class A | 463,951 | 6,648,418 | |
Yum China Holdings, Inc. | 158,012 | 8,709,621 | |
216,002,005 | |||
Household Durables - 0.4% | |||
Lennar Corp. Class A | 480,269 | 42,182,026 | |
Purple Innovation, Inc. (a)(b) | 1,583,687 | 7,997,619 | |
50,179,645 | |||
Internet & Direct Marketing Retail - 5.8% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 80,100 | 7,013,556 | |
Amazon.com, Inc. (a) | 6,226,460 | 601,102,448 | |
Etsy, Inc. (a) | 32,381 | 4,277,206 | |
JD.com, Inc. sponsored ADR | 59,929 | 3,426,740 | |
Lyft, Inc. (a) | 701,640 | 7,872,401 | |
Pinduoduo, Inc. ADR (a) | 71,000 | 5,824,840 | |
Revolve Group, Inc. (a) | 465,400 | 12,295,868 | |
RumbleON, Inc. Class B (a)(b) | 250,700 | 1,912,841 | |
Uber Technologies, Inc. (a) | 1,641,404 | 47,830,513 | |
Wayfair LLC Class A (a) | 838,005 | 30,704,503 | |
Zomato Ltd. (a) | 6,700,000 | 5,461,078 | |
727,721,994 | |||
Leisure Products - 0.0% | |||
Peloton Interactive, Inc. Class A (a) | 43,942 | 500,060 | |
Multiline Retail - 0.7% | |||
Dollar General Corp. | 118,140 | 30,206,035 | |
Dollar Tree, Inc. (a) | 104,094 | 15,644,287 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 460,882 | 28,067,714 | |
Target Corp. | 75,813 | 12,666,078 | |
86,584,114 | |||
Specialty Retail - 2.8% | |||
Fanatics, Inc. Class A (a)(c)(d) | 180,405 | 13,741,449 | |
Five Below, Inc. (a) | 67,200 | 10,809,792 | |
Floor & Decor Holdings, Inc. Class A (a) | 98,200 | 7,328,666 | |
Lowe's Companies, Inc. | 428,123 | 90,997,544 | |
RH (a) | 33,129 | 9,502,391 | |
Ross Stores, Inc. | 132,200 | 15,555,974 | |
The Home Depot, Inc. | 308,877 | 100,073,059 | |
TJX Companies, Inc. | 1,356,172 | 108,561,569 | |
356,570,444 | |||
Textiles, Apparel & Luxury Goods - 6.1% | |||
Canada Goose Holdings, Inc. (a)(b) | 344,371 | 6,451,436 | |
Crocs, Inc. (a) | 236,300 | 23,866,300 | |
Deckers Outdoor Corp. (a) | 153,670 | 61,295,890 | |
Li Ning Co. Ltd. | 67,500 | 542,464 | |
lululemon athletica, Inc. (a) | 1,368,258 | 520,362,200 | |
NIKE, Inc. Class B | 386,454 | 42,390,139 | |
On Holding AG (a)(b) | 1,414,964 | 27,478,601 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,624,679 | 68,512,713 | |
Tory Burch LLC (a)(c)(d)(e) | 248,840 | 7,470,177 | |
758,369,920 | |||
TOTAL CONSUMER DISCRETIONARY | 2,460,225,978 | ||
CONSUMER STAPLES - 4.5% | |||
Beverages - 1.9% | |||
Celsius Holdings, Inc. (a) | 105,800 | 11,779,772 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 68,400 | 17,602,740 | |
Keurig Dr. Pepper, Inc. | 678,971 | 26,255,809 | |
Monster Beverage Corp. (a) | 437,535 | 45,004,850 | |
PepsiCo, Inc. | 234,164 | 43,439,764 | |
The Coca-Cola Co. | 1,410,407 | 89,715,989 | |
233,798,924 | |||
Food & Staples Retailing - 1.0% | |||
Costco Wholesale Corp. | 142,744 | 76,974,702 | |
Kroger Co. | 230,440 | 11,335,344 | |
Ocado Group PLC (a) | 32,320 | 244,686 | |
Performance Food Group Co. (a) | 185,168 | 11,291,545 | |
Sysco Corp. | 172,500 | 14,922,975 | |
Walmart, Inc. | 32,100 | 4,892,682 | |
119,661,934 | |||
Food Products - 0.7% | |||
Archer Daniels Midland Co. | 138,300 | 13,484,250 | |
Bunge Ltd. | 266,054 | 27,893,101 | |
Darling Ingredients, Inc. (a) | 221,169 | 15,886,569 | |
Kellogg Co. | 118,600 | 8,651,870 | |
Mondelez International, Inc. | 94,217 | 6,370,011 | |
The Hershey Co. | 74,000 | 17,402,580 | |
The Real Good Food Co. LLC: | |||
Class B (d) | 131,479 | 1 | |
Class B unit (f) | 131,479 | 940,075 | |
The Real Good Food Co., Inc. | 11,600 | 82,940 | |
90,711,397 | |||
Household Products - 0.4% | |||
Church & Dwight Co., Inc. | 54,121 | 4,430,886 | |
Colgate-Palmolive Co. | 120,591 | 9,343,391 | |
Procter & Gamble Co. | 258,478 | 38,554,578 | |
52,328,855 | |||
Personal Products - 0.1% | |||
Olaplex Holdings, Inc. (a)(b) | 1,603,195 | 9,571,074 | |
The Beauty Health Co. (a)(c) | 553,828 | 5,953,651 | |
The Beauty Health Co. (a) | 249,298 | 2,679,954 | |
18,204,679 | |||
Tobacco - 0.4% | |||
JUUL Labs, Inc. Class A (a)(c)(d) | 13,297 | 59,438 | |
Philip Morris International, Inc. | 565,400 | 56,353,418 | |
56,412,856 | |||
TOTAL CONSUMER STAPLES | 571,118,645 | ||
ENERGY - 4.0% | |||
Energy Equipment & Services - 0.6% | |||
Baker Hughes Co. Class A | 457,800 | 13,285,356 | |
Halliburton Co. | 915,500 | 34,688,295 | |
Schlumberger Ltd. | 612,000 | 31,548,600 | |
79,522,251 | |||
Oil, Gas & Consumable Fuels - 3.4% | |||
Cameco Corp. | 676,100 | 16,483,318 | |
ConocoPhillips Co. | 86,400 | 10,671,264 | |
Devon Energy Corp. | 280,600 | 19,226,712 | |
EOG Resources, Inc. | 377,300 | 53,550,189 | |
EQT Corp. | 128,600 | 5,453,926 | |
Exxon Mobil Corp. | 64,500 | 7,181,430 | |
Hess Corp. | 1,115,306 | 160,503,686 | |
Occidental Petroleum Corp. | 241,700 | 16,795,733 | |
Phillips 66 Co. | 82,600 | 8,957,144 | |
Pioneer Natural Resources Co. | 146,300 | 34,525,337 | |
Range Resources Corp. | 1,181,576 | 34,112,099 | |
Reliance Industries Ltd. | 928,159 | 31,244,854 | |
Valero Energy Corp. | 181,600 | 24,265,392 | |
422,971,084 | |||
TOTAL ENERGY | 502,493,335 | ||
FINANCIALS - 1.7% | |||
Banks - 0.6% | |||
Bank of America Corp. | 865,517 | 32,759,818 | |
HDFC Bank Ltd. sponsored ADR | 412,922 | 29,139,906 | |
JPMorgan Chase & Co. | 111,023 | 15,341,158 | |
Wells Fargo & Co. | 57,300 | 2,747,535 | |
79,988,417 | |||
Capital Markets - 0.8% | |||
BlackRock, Inc. Class A | 42,297 | 30,284,652 | |
Charles Schwab Corp. | 828,506 | 68,384,885 | |
98,669,537 | |||
Consumer Finance - 0.0% | |||
Discover Financial Services | 21,982 | 2,381,970 | |
Diversified Financial Services - 0.3% | |||
Adimab LLC (a)(c)(d)(e) | 762,787 | 30,732,688 | |
Ant International Co. Ltd. Class C (a)(c)(d) | 617,086 | 999,679 | |
31,732,367 | |||
TOTAL FINANCIALS | 212,772,291 | ||
HEALTH CARE - 15.7% | |||
Biotechnology - 8.0% | |||
4D Pharma PLC (a)(b)(d) | 596,200 | 119,714 | |
AbbVie, Inc. | 126,249 | 20,348,814 | |
Absci Corp. (a)(b) | 958,683 | 2,396,708 | |
ACADIA Pharmaceuticals, Inc. (a) | 1,027,571 | 16,009,556 | |
Akouos, Inc. (a) | 13,100 | 174,099 | |
Akouos, Inc. (a)(f) | 113,263 | 1,505,265 | |
Akouos, Inc. (CVR) (d) | 74,200 | 58,618 | |
Alector, Inc. (a) | 308,168 | 2,616,346 | |
Allovir, Inc. (a)(b) | 466,110 | 3,500,486 | |
Alnylam Pharmaceuticals, Inc. (a) | 656,931 | 144,912,409 | |
Ambrx Biopharma, Inc. ADR (a) | 72,486 | 35,515 | |
Amgen, Inc. | 121,204 | 34,712,826 | |
Arcutis Biotherapeutics, Inc. (a) | 192,100 | 3,309,883 | |
Argenx SE ADR (a) | 216,260 | 86,064,992 | |
Arrowhead Pharmaceuticals, Inc. (a) | 39,959 | 1,286,680 | |
Ars Pharmaceuticals, Inc. (a) | 226,421 | 1,408,339 | |
Ascendis Pharma A/S sponsored ADR (a) | 9,489 | 1,167,716 | |
aTyr Pharma, Inc. (a) | 232,631 | 502,483 | |
Avidity Biosciences, Inc. (a) | 323,900 | 3,770,196 | |
Axcella Health, Inc. (a) | 949,347 | 797,831 | |
Beam Therapeutics, Inc. (a)(b) | 129,400 | 5,976,986 | |
BeiGene Ltd. ADR (a) | 222,239 | 42,583,215 | |
Biogen, Inc. (a) | 1,742 | 531,606 | |
BioNTech SE ADR | 8,502 | 1,420,004 | |
BioXcel Therapeutics, Inc. (a)(b) | 314,798 | 5,216,203 | |
Caris Life Sciences, Inc. (c)(d) | 396,011 | 2,217,662 | |
Century Therapeutics, Inc. (a) | 315,404 | 3,311,742 | |
Cerevel Therapeutics Holdings (a) | 1,647,616 | 47,714,959 | |
Codiak Biosciences, Inc. (a) | 432,962 | 298,787 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 104,600 | 14,136 | |
CRISPR Therapeutics AG (a)(b) | 219,748 | 12,039,993 | |
Cyclerion Therapeutics, Inc. (a) | 160,351 | 152,333 | |
Cyclerion Therapeutics, Inc. (a)(c) | 150,550 | 143,023 | |
Day One Biopharmaceuticals, Inc. (a) | 275,400 | 5,846,742 | |
Denali Therapeutics, Inc. (a) | 45,674 | 1,457,457 | |
Deverra Therapeutics, Inc. (a)(d) | 20,487 | 35,238 | |
EQRx, Inc. (a) | 1,706,028 | 6,414,665 | |
EQRx, Inc.: | |||
rights (a)(d) | 90,566 | 296,151 | |
rights (a)(d) | 38,814 | 103,245 | |
Erasca, Inc. (a) | 90,500 | 683,275 | |
Evelo Biosciences, Inc. (a)(b) | 1,458,314 | 3,047,876 | |
Foghorn Therapeutics, Inc. (a) | 299,433 | 2,021,173 | |
Gemini Therapeutics, Inc. (a)(b) | 16,600 | 28,552 | |
Generation Bio Co. (a) | 647,360 | 3,450,429 | |
Immunocore Holdings PLC ADR (a) | 72,370 | 4,545,560 | |
Immunovant, Inc. (a) | 154,500 | 2,025,495 | |
Inhibrx, Inc. (a)(b) | 70,800 | 2,122,584 | |
Instil Bio, Inc. (a) | 63,900 | 84,987 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(d) | 7,022 | 0 | |
Intellia Therapeutics, Inc. (a) | 116,700 | 6,005,382 | |
Invivyd, Inc. (a)(b) | 1,614,327 | 3,648,379 | |
Ionis Pharmaceuticals, Inc. (a) | 2,150,349 | 87,712,736 | |
Janux Therapeutics, Inc. (a) | 100,700 | 1,373,548 | |
Karuna Therapeutics, Inc. (a) | 366,548 | 86,252,410 | |
Kinnate Biopharma, Inc. (a) | 34,000 | 269,280 | |
Legend Biotech Corp. ADR (a) | 497,600 | 25,631,376 | |
Lexicon Pharmaceuticals, Inc. (a) | 145,522 | 311,417 | |
Lyell Immunopharma, Inc. (a)(b) | 439,700 | 1,851,137 | |
Moderna, Inc. (a) | 246,541 | 43,369,027 | |
Monte Rosa Therapeutics, Inc. (a) | 368,894 | 3,128,221 | |
Morphic Holding, Inc. (a) | 322,314 | 8,870,081 | |
Nuvalent, Inc. Class A (a) | 346,676 | 11,398,707 | |
Omega Therapeutics, Inc. (a) | 302,635 | 2,118,445 | |
ORIC Pharmaceuticals, Inc. (a) | 127,341 | 457,154 | |
Poseida Therapeutics, Inc. (a) | 785,859 | 3,583,517 | |
Prothena Corp. PLC (a) | 195,905 | 12,246,022 | |
PTC Therapeutics, Inc. (a) | 299,058 | 12,407,916 | |
Recursion Pharmaceuticals, Inc. (a)(b) | 574,900 | 5,404,060 | |
Regeneron Pharmaceuticals, Inc. (a) | 87,921 | 66,090,216 | |
Relay Therapeutics, Inc. (a) | 296,700 | 5,512,686 | |
Roivant Sciences Ltd. (a) | 2,175,300 | 11,659,608 | |
Rubius Therapeutics, Inc. (a) | 1,184,817 | 263,029 | |
Sage Therapeutics, Inc. (a) | 636,913 | 26,138,910 | |
Saluda Medical Pty Ltd. warrants (a)(c)(d) | 32,997 | 12,539 | |
Sana Biotechnology, Inc. (a)(b) | 169,800 | 847,302 | |
Scholar Rock Holding Corp. (a) | 507,934 | 3,946,647 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(c) | 44,550 | 137,751 | |
Seagen, Inc. (a) | 5,700 | 691,923 | |
Seres Therapeutics, Inc. (a) | 1,446,348 | 9,401,262 | |
Shattuck Labs, Inc. (a) | 321,000 | 728,670 | |
Sigilon Therapeutics, Inc. (a) | 56,196 | 23,417 | |
SpringWorks Therapeutics, Inc. (c) | 125,200 | 2,724,602 | |
SpringWorks Therapeutics, Inc. (a)(b) | 773,093 | 18,693,389 | |
Synlogic, Inc. (a) | 615,046 | 367,921 | |
Tango Therapeutics, Inc. (a) | 238,656 | 1,792,307 | |
Taysha Gene Therapies, Inc. (a) | 144,508 | 319,363 | |
TG Therapeutics, Inc. (a) | 479,051 | 4,225,230 | |
Twist Bioscience Corp. (a) | 297,200 | 8,128,420 | |
Tyra Biosciences, Inc. (a) | 27,700 | 194,177 | |
uniQure B.V. (a) | 50,949 | 1,348,111 | |
UNITY Biotechnology, Inc. (a)(b) | 111,300 | 306,075 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 700,000 | 31,828 | |
Vaxcyte, Inc. (a) | 325,480 | 14,991,609 | |
Vera Therapeutics, Inc. (a) | 129,982 | 2,170,699 | |
Vertex Pharmaceuticals, Inc. (a) | 65,193 | 20,627,065 | |
Verve Therapeutics, Inc. (a) | 110,867 | 2,575,440 | |
Vor Biopharma, Inc. (a) | 74,411 | 342,291 | |
Yumanity Therapeutics, Inc. (a) | 84,792 | 151,778 | |
Zai Lab Ltd. ADR (a) | 163,886 | 6,319,444 | |
Zentalis Pharmaceuticals, Inc. (a) | 190,138 | 4,205,853 | |
1,009,490,931 | |||
Health Care Equipment & Supplies - 3.5% | |||
Abbott Laboratories | 9,901 | 1,065,150 | |
Blink Health LLC Series A1 (a)(c)(d) | 8,589 | 332,223 | |
DexCom, Inc. (a) | 385,684 | 44,847,336 | |
Figs, Inc. Class A (a) | 123,600 | 967,788 | |
Insulet Corp. (a) | 515,743 | 154,397,982 | |
Intuitive Surgical, Inc. (a) | 220,623 | 59,654,253 | |
Novocure Ltd. (a)(b) | 1,403,085 | 107,813,051 | |
Oddity Tech Ltd. (c)(d) | 2,226 | 893,472 | |
Outset Medical, Inc. (a) | 396,553 | 8,359,337 | |
Presbia PLC (a)(d) | 454,926 | 6,824 | |
PROCEPT BioRobotics Corp. (a) | 344,956 | 14,798,612 | |
Shockwave Medical, Inc. (a) | 167,567 | 42,494,991 | |
435,631,019 | |||
Health Care Providers & Services - 1.6% | |||
Alignment Healthcare, Inc. (a) | 461,922 | 6,143,563 | |
AmerisourceBergen Corp. | 42,000 | 7,168,980 | |
Centene Corp. (a) | 121,590 | 10,584,410 | |
Guardant Health, Inc. (a) | 121,000 | 6,333,140 | |
Humana, Inc. | 73,043 | 40,166,346 | |
McKesson Corp. | 33,600 | 12,824,448 | |
Progyny, Inc. (a) | 34,400 | 1,260,072 | |
The Oncology Institute, Inc. (a)(c) | 377,375 | 532,099 | |
UnitedHealth Group, Inc. | 205,954 | 112,813,363 | |
197,826,421 | |||
Health Care Technology - 0.0% | |||
DNA Script (c)(d) | 85 | 65,674 | |
DNA Script (c)(d) | 324 | 250,334 | |
316,008 | |||
Life Sciences Tools & Services - 0.7% | |||
10X Genomics, Inc. (a) | 44,800 | 1,731,968 | |
10X Genomics, Inc. Class B (a)(f) | 640,857 | 24,775,532 | |
Akoya Biosciences, Inc. (a)(b) | 900 | 11,682 | |
Danaher Corp. | 36,533 | 9,988,488 | |
Olink Holding AB ADR (a) | 328,035 | 7,817,074 | |
Seer, Inc. (a) | 343,117 | 2,216,536 | |
Thermo Fisher Scientific, Inc. | 41,774 | 23,402,630 | |
WuXi AppTec Co. Ltd. (H Shares) (f) | 261,840 | 2,640,234 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 1,928,310 | 12,637,634 | |
85,221,778 | |||
Pharmaceuticals - 1.9% | |||
Arvinas Holding Co. LLC (a) | 52,500 | 2,154,600 | |
Atea Pharmaceuticals, Inc. (a) | 1,607,594 | 7,539,616 | |
Bristol-Myers Squibb Co. | 132,265 | 10,618,234 | |
DICE Therapeutics, Inc. (a) | 91,400 | 3,181,634 | |
Dragonfly Therapeutics, Inc. (a)(c)(d) | 126,113 | 1,547,407 | |
Eli Lilly & Co. | 282,100 | 104,681,668 | |
Fulcrum Therapeutics, Inc. (a) | 304,788 | 2,087,798 | |
GH Research PLC (a) | 282,373 | 3,089,161 | |
Hansoh Pharmaceutical Group Co. Ltd. (f) | 288,400 | 547,495 | |
Harmony Biosciences Holdings, Inc. (a)(b) | 566,612 | 33,866,399 | |
Intra-Cellular Therapies, Inc. (a) | 919,209 | 49,839,512 | |
Nuvation Bio, Inc. (a) | 896,263 | 1,711,862 | |
OptiNose, Inc. (a) | 1,545,428 | 2,735,408 | |
OptiNose, Inc. warrants (a) | 206,400 | 133,941 | |
Pharvaris BV (a) | 41,400 | 85,284 | |
Pliant Therapeutics, Inc. (a) | 417,000 | 7,664,460 | |
Sienna Biopharmaceuticals, Inc. (a)(d) | 589,618 | 6 | |
Skyhawk Therapeutics, Inc. (a)(c)(d) | 126,063 | 1,471,155 | |
Theravance Biopharma, Inc. (a) | 287,145 | 3,089,680 | |
UCB SA | 25,000 | 2,017,914 | |
238,063,234 | |||
TOTAL HEALTH CARE | 1,966,549,391 | ||
INDUSTRIALS - 5.6% | |||
Aerospace & Defense - 1.4% | |||
AeroVironment, Inc. (a) | 36,000 | 3,311,640 | |
Lockheed Martin Corp. | 68,000 | 32,992,920 | |
Raytheon Technologies Corp. | 176,000 | 17,374,720 | |
Space Exploration Technologies Corp. Class A (a)(c)(d) | 1,375,690 | 96,298,300 | |
The Boeing Co. (a) | 113,636 | 20,327,208 | |
170,304,788 | |||
Air Freight & Logistics - 0.2% | |||
Delhivery Private Ltd. | 646,600 | 2,683,320 | |
United Parcel Service, Inc. Class B | 89,184 | 16,920,880 | |
19,604,200 | |||
Airlines - 0.9% | |||
Delta Air Lines, Inc. (a) | 648,190 | 22,926,480 | |
JetBlue Airways Corp. (a) | 97,414 | 775,415 | |
Ryanair Holdings PLC sponsored ADR (a) | 8,578 | 649,269 | |
Southwest Airlines Co. | 830,766 | 33,155,871 | |
Spirit Airlines, Inc. (a) | 648,933 | 14,088,335 | |
United Airlines Holdings, Inc. (a) | 378,125 | 16,701,781 | |
Wheels Up Experience, Inc.: | |||
Class A (a) | 94,800 | 121,344 | |
rights (a)(d) | 23,018 | 9,898 | |
rights (a)(d) | 23,018 | 8,056 | |
rights (a)(d) | 23,018 | 6,905 | |
Wizz Air Holdings PLC (a)(f) | 695,083 | 18,974,981 | |
107,418,335 | |||
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 392,600 | 13,195,286 | |
MasTec, Inc. (a) | 47,900 | 4,350,757 | |
Quanta Services, Inc. | 51,000 | 7,643,880 | |
25,189,923 | |||
Electrical Equipment - 0.3% | |||
Eaton Corp. PLC | 82,924 | 13,553,928 | |
Emerson Electric Co. | 203,549 | 19,493,888 | |
Generac Holdings, Inc. (a) | 93,500 | 9,866,120 | |
NuScale Power Corp. (a)(b) | 160,300 | 1,747,270 | |
44,661,206 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 22,280 | 2,806,612 | |
Honeywell International, Inc. | 41,483 | 9,107,593 | |
11,914,205 | |||
Machinery - 0.9% | |||
Caterpillar, Inc. | 113,660 | 26,870,361 | |
Deere & Co. | 98,552 | 43,461,432 | |
Fortive Corp. | 32,200 | 2,175,110 | |
Illinois Tool Works, Inc. | 64,153 | 14,592,883 | |
Ingersoll Rand, Inc. | 83,744 | 4,519,664 | |
Xylem, Inc. | 225,017 | 25,280,660 | |
116,900,110 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 228,400 | 2,021,340 | |
Road & Rail - 1.6% | |||
Avis Budget Group, Inc. (a) | 531,413 | 118,823,947 | |
Bird Global, Inc. (a)(c) | 228,339 | 52,792 | |
Bird Global, Inc.: | |||
Class A (a) | 16,700 | 3,861 | |
rights (a)(d) | 28,568 | 1,143 | |
rights (a)(d) | 28,568 | 857 | |
rights (a)(d) | 28,567 | 571 | |
CSX Corp. | 87,500 | 2,860,375 | |
Hertz Global Holdings, Inc. (b) | 980,081 | 16,857,393 | |
Union Pacific Corp. | 299,361 | 65,090,062 | |
203,691,001 | |||
TOTAL INDUSTRIALS | 701,705,108 | ||
INFORMATION TECHNOLOGY - 35.6% | |||
Communications Equipment - 0.6% | |||
Arista Networks, Inc. (a) | 132,032 | 18,392,058 | |
Ciena Corp. (a) | 916,297 | 41,196,713 | |
Infinera Corp. (a)(b) | 3,001,675 | 20,261,306 | |
79,850,077 | |||
Electronic Equipment & Components - 0.0% | |||
Coherent Corp. (a) | 169,490 | 6,215,198 | |
TE Connectivity Ltd. | 1,941 | 244,799 | |
6,459,997 | |||
IT Services - 4.1% | |||
Accenture PLC Class A | 132,900 | 39,993,597 | |
Block, Inc. Class A (a) | 53,185 | 3,604,347 | |
Cloudflare, Inc. (a) | 1,277,281 | 62,765,588 | |
IBM Corp. | 135,395 | 20,160,316 | |
MasterCard, Inc. Class A | 389,249 | 138,728,344 | |
MongoDB, Inc. Class A (a) | 8,941 | 1,365,201 | |
Okta, Inc. (a) | 115,381 | 6,152,115 | |
PayPal Holdings, Inc. (a) | 165,327 | 12,963,290 | |
Shopify, Inc. Class A (a) | 465,690 | 19,130,974 | |
Snowflake, Inc. (a) | 97,125 | 13,879,163 | |
Toast, Inc. (a)(b) | 1,550,700 | 28,470,852 | |
Visa, Inc. Class A | 754,212 | 163,664,004 | |
X Holdings I, Inc. (c)(d) | 2,263 | 992,937 | |
511,870,728 | |||
Semiconductors & Semiconductor Equipment - 10.2% | |||
Advanced Micro Devices, Inc. (a) | 788,236 | 61,190,761 | |
Applied Materials, Inc. | 446,085 | 48,890,916 | |
ASML Holding NV | 14,385 | 8,747,806 | |
Broadcom, Inc. | 42,425 | 23,377,448 | |
Cirrus Logic, Inc. (a) | 351,066 | 26,228,141 | |
Enphase Energy, Inc. (a) | 77,300 | 24,781,607 | |
First Solar, Inc. (a) | 240,700 | 41,527,971 | |
GlobalFoundries, Inc. (a) | 87,100 | 5,604,885 | |
KLA Corp. | 57,586 | 22,639,936 | |
Lam Research Corp. | 18,100 | 8,550,078 | |
Lattice Semiconductor Corp. (a) | 5,300 | 385,999 | |
Marvell Technology, Inc. | 811,741 | 37,762,191 | |
Micron Technology, Inc. | 84,631 | 4,878,977 | |
Monolithic Power Systems, Inc. | 32,900 | 12,566,484 | |
NVIDIA Corp. | 4,653,340 | 787,484,728 | |
onsemi (a) | 185,400 | 13,942,080 | |
Qualcomm, Inc. | 158,109 | 19,999,207 | |
Silicon Laboratories, Inc. (a) | 390,739 | 56,829,080 | |
SiTime Corp. (a) | 165,785 | 17,483,686 | |
SolarEdge Technologies, Inc. (a) | 9,100 | 2,719,626 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 84,068 | 6,975,963 | |
Teradyne, Inc. | 80,950 | 7,564,778 | |
Texas Instruments, Inc. | 154,594 | 27,898,033 | |
Wolfspeed, Inc. (a)(b) | 142,629 | 12,967,829 | |
1,280,998,210 | |||
Software - 10.4% | |||
Adobe, Inc. (a) | 189,412 | 65,333,881 | |
Atlassian Corp. PLC (a) | 9,626 | 1,266,300 | |
Autodesk, Inc. (a) | 128,142 | 25,878,277 | |
Bill.Com Holdings, Inc. (a) | 11,100 | 1,336,662 | |
Clear Secure, Inc. | 1,400 | 43,512 | |
Coupa Software, Inc. (a) | 20,804 | 1,315,645 | |
Crowdstrike Holdings, Inc. (a) | 110,733 | 13,027,737 | |
Datadog, Inc. Class A (a) | 64,830 | 4,912,817 | |
Elastic NV (a) | 48,894 | 2,991,824 | |
HubSpot, Inc. (a) | 54,117 | 16,399,075 | |
Intuit, Inc. | 77,794 | 31,708,056 | |
Microsoft Corp. | 2,540,536 | 648,192,355 | |
Nutanix, Inc. Class A (a) | 3,487,082 | 98,544,937 | |
Oracle Corp. | 1,201,504 | 99,760,877 | |
Paycom Software, Inc. (a) | 14,000 | 4,747,400 | |
Paylocity Holding Corp. (a) | 26,697 | 5,815,408 | |
RingCentral, Inc. (a) | 49,842 | 1,847,145 | |
Riskified Ltd. (a)(b) | 373,074 | 1,925,062 | |
Salesforce.com, Inc. (a) | 1,263,449 | 202,467,702 | |
Samsara, Inc. | 52,300 | 498,419 | |
SentinelOne, Inc. (a) | 48,500 | 703,250 | |
ServiceNow, Inc. (a) | 56,400 | 23,479,320 | |
Stripe, Inc. Class B (a)(c)(d) | 43,500 | 1,104,030 | |
UiPath, Inc. Class A (a)(b) | 1,410,648 | 17,590,781 | |
Workday, Inc. Class A (a) | 33,032 | 5,546,073 | |
Zoom Video Communications, Inc. Class A (a) | 180,353 | 13,604,027 | |
Zscaler, Inc. (a) | 91,865 | 12,259,384 | |
1,302,299,956 | |||
Technology Hardware, Storage & Peripherals - 10.3% | |||
Apple, Inc. | 7,954,128 | 1,177,449,560 | |
Pure Storage, Inc. Class A (a) | 3,600,801 | 105,107,381 | |
Samsung Electronics Co. Ltd. | 122,613 | 5,957,010 | |
1,288,513,951 | |||
TOTAL INFORMATION TECHNOLOGY | 4,469,992,919 | ||
MATERIALS - 1.9% | |||
Chemicals - 1.1% | |||
Albemarle Corp. | 49,600 | 13,788,304 | |
CF Industries Holdings, Inc. | 365,900 | 39,586,721 | |
Cibus Corp.: | |||
Series C (a)(c)(d)(e) | 1,142,857 | 2,228,571 | |
Series D (a)(c)(d)(e) | 750,960 | 1,464,372 | |
Series E (a)(c)(d)(e) | 123,690 | 241,196 | |
Corteva, Inc. | 589,900 | 39,617,684 | |
DuPont de Nemours, Inc. | 233,946 | 16,495,532 | |
The Mosaic Co. | 327,300 | 16,790,490 | |
130,212,870 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 73,800 | 3,928,374 | |
Metals & Mining - 0.8% | |||
Barrick Gold Corp. (Canada) (b) | 370,300 | 6,042,512 | |
Freeport-McMoRan, Inc. | 1,964,200 | 78,175,160 | |
Rio Tinto PLC sponsored ADR (b) | 255,000 | 17,503,200 | |
101,720,872 | |||
TOTAL MATERIALS | 235,862,116 | ||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.3% | |||
American Tower Corp. | 82,298 | 18,208,433 | |
Equinix, Inc. | 6,800 | 4,696,420 | |
Simon Property Group, Inc. | 80,100 | 9,567,144 | |
32,471,997 | |||
Real Estate Management & Development - 0.1% | |||
CBRE Group, Inc. (a) | 141,300 | 11,247,480 | |
WeWork, Inc. (a) | 1,818,738 | 5,019,717 | |
16,267,197 | |||
TOTAL REAL ESTATE | 48,739,194 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (f) | 94,400 | 8,265,702 | |
TOTAL COMMON STOCKS (Cost $6,674,854,521) | 12,165,721,318 | ||
Preferred Stocks - 1.9% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.8% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 84,766 | 15,597,792 | |
Reddit, Inc.: | |||
Series B(a)(c)(d) | 37,935 | 1,559,129 | |
Series E(a)(c)(d) | 5,127 | 210,720 | |
Series F(a)(c)(d) | 40,428 | 1,661,591 | |
19,029,232 | |||
CONSUMER DISCRETIONARY - 0.2% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(c)(d) | 32,487 | 141,643 | |
Series C(a)(c)(d) | 127,831 | 557,343 | |
Series D(a)(c)(d) | 215,900 | 941,324 | |
1,640,310 | |||
Hotels, Restaurants & Leisure - 0.1% | |||
Discord, Inc. Series I (a)(c)(d) | 1,400 | 496,958 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(c)(d)(e) | 16,248 | 4,274,682 | |
Series 4(a)(c)(d)(e) | 1,483 | 372,722 | |
Series 5(a)(c)(d)(e) | 5,955 | 1,400,318 | |
6,544,680 | |||
Internet & Direct Marketing Retail - 0.0% | |||
Instacart, Inc.: | |||
Series H(a)(c)(d) | 13,904 | 613,166 | |
Series I(a)(c)(d) | 6,341 | 279,638 | |
Meesho Series F (a)(c)(d) | 62,461 | 4,680,203 | |
5,573,007 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Freenome, Inc.: | |||
Series C(a)(c)(d) | 190,858 | 1,748,259 | |
Series D(c)(d) | 91,538 | 838,488 | |
Laronde, Inc. Series B (a)(c)(d) | 66,432 | 1,344,584 | |
Odyssey Therapeutics Series B (c)(d) | 468,023 | 2,957,905 | |
6,889,236 | |||
TOTAL CONSUMER DISCRETIONARY | 20,647,233 | ||
CONSUMER STAPLES - 0.1% | |||
Food & Staples Retailing - 0.1% | |||
GoBrands, Inc.: | |||
Series G(a)(c)(d) | 26,833 | 4,234,516 | |
Series H(a)(c)(d) | 21,372 | 3,372,715 | |
7,607,231 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(c)(d) | 338,565 | 2,136,345 | |
Series D(a)(c)(d) | 126,371 | 788,555 | |
Bowery Farming, Inc. Series C1 (a)(c)(d) | 27,136 | 615,987 | |
3,540,887 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(c)(d) | 6,648 | 29,717 | |
TOTAL CONSUMER STAPLES | 11,177,835 | ||
FINANCIALS - 0.1% | |||
Diversified Financial Services - 0.1% | |||
Apogee Therapeutics Series B (c)(d) | 565,933 | 1,870,160 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(c)(d) | 198,234 | 2,146,874 | |
Series C(a)(c)(d) | 115,792 | 1,254,027 | |
Series D1(c)(d) | 214,900 | 2,327,367 | |
Series D2(c)(d) | 44,427 | 481,144 | |
8,079,572 | |||
HEALTH CARE - 0.6% | |||
Biotechnology - 0.5% | |||
Altos Labs, Inc. Series B (c)(d) | 122,084 | 2,337,713 | |
Ankyra Therapeutics Series B (a)(c)(d) | 257,347 | 1,016,521 | |
Asimov, Inc. Series B (a)(c)(d) | 15,783 | 924,884 | |
Bright Peak Therapeutics AG Series B (a)(c)(d) | 239,403 | 663,146 | |
Caris Life Sciences, Inc. Series D (a)(c)(d) | 255,590 | 1,431,304 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(c)(d) | 4,460 | 908,680 | |
Series D2(c)(d) | 1,412 | 287,681 | |
Cleerly, Inc. Series C (c)(d) | 272,438 | 3,168,454 | |
Deep Genomics, Inc. Series C (a)(c)(d) | 129,534 | 1,299,226 | |
Dianthus Therapeutics, Inc. Series A (c)(d) | 287,993 | 1,075,049 | |
Element Biosciences, Inc.: | |||
Series B(a)(c)(d) | 250,956 | 3,428,059 | |
Series C(a)(c)(d) | 101,911 | 1,392,104 | |
ElevateBio LLC Series C (a)(c)(d) | 332,500 | 1,520,523 | |
Fog Pharmaceuticals, Inc. Series D (c)(d) | 247,595 | 2,664,890 | |
Generate Biomedicines Series B (c)(d) | 157,390 | 1,279,581 | |
Inscripta, Inc.: | |||
Series D(a)(c)(d) | 308,833 | 1,927,118 | |
Series E(a)(c)(d) | 222,357 | 1,387,508 | |
Intarcia Therapeutics, Inc. Series EE (a)(c)(d) | 116,544 | 1 | |
Korro Bio, Inc.: | |||
Series B1(c)(d) | 241,420 | 461,112 | |
Series B2(c)(d) | 226,657 | 432,915 | |
LifeMine Therapeutics, Inc. Series C (c)(d) | 1,780,790 | 3,045,151 | |
National Resilience, Inc.: | |||
Series B(a)(c)(d) | 251,448 | 15,270,437 | |
Series C(a)(c)(d) | 44,850 | 2,723,741 | |
Quell Therapeutics Ltd. Series B (c)(d) | 760,965 | 928,377 | |
SalioGen Therapeutics, Inc. Series B (c)(d) | 8,766 | 653,681 | |
Saluda Medical Pty Ltd. Series D (c)(d) | 109,988 | 1,269,262 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(c)(d) | 481,325 | 808,626 | |
Series B1(a)(c)(d) | 256,702 | 431,259 | |
T-Knife Therapeutics, Inc. Series B (a)(c)(d) | 199,356 | 763,533 | |
Treeline Biosciences: | |||
Series A(a)(c)(d) | 289,700 | 2,494,404 | |
Series A1(c)(d) | 143,637 | 1,236,758 | |
57,231,698 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(c)(d) | 197,068 | 7,622,590 | |
Kardium, Inc. Series D6 (a)(c)(d) | 1,136,853 | 846,137 | |
8,468,727 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc. Series B (a)(c)(d) | 616,102 | 560,653 | |
Conformal Medical, Inc. Series C (a)(c)(d) | 240,750 | 857,070 | |
Scorpion Therapeutics, Inc. Series B (a)(c)(d) | 242,077 | 302,596 | |
1,720,319 | |||
Health Care Technology - 0.0% | |||
Aledade, Inc.: | |||
Series B1(a)(c)(d) | 22,992 | 1,104,306 | |
Series E1(c)(d) | 17,916 | 860,505 | |
DNA Script: | |||
Series B(c)(d) | 4 | 3,091 | |
Series C(a)(c)(d) | 2,060 | 1,591,628 | |
Omada Health, Inc. Series E (c)(d) | 435,062 | 1,331,290 | |
PrognomIQ, Inc.: | |||
Series A5(a)(c)(d) | 83,544 | 217,214 | |
Series B(a)(c)(d) | 198,721 | 516,675 | |
Series C(c)(d) | 66,506 | 172,916 | |
Wugen, Inc. Series B (a)(c)(d) | 96,718 | 504,868 | |
6,302,493 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(c)(d) | 4,910 | 1,087,663 | |
Series C(a)(c)(d) | 2,570 | 569,306 | |
Galvanize Therapeutics Series B (c)(d) | 1,018,908 | 1,721,955 | |
Nohla Therapeutics, Inc. Series B (a)(c)(d) | 3,126,919 | 31 | |
3,378,955 | |||
TOTAL HEALTH CARE | 77,102,192 | ||
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.3% | |||
Space Exploration Technologies Corp. Series G (a)(c)(d) | 53,937 | 37,755,900 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(c)(d) | 10,986 | 905,466 | |
Series B, 6.00%(c)(d) | 17,147 | 1,413,256 | |
2,318,722 | |||
TOTAL INDUSTRIALS | 40,074,622 | ||
INFORMATION TECHNOLOGY - 0.3% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. Series E (a)(c)(d) | 814,561 | 448,009 | |
Menlo Micro, Inc. Series C (c)(d) | 959,784 | 1,017,371 | |
1,465,380 | |||
IT Services - 0.0% | |||
AppNexus, Inc. Series E (Escrow) (a)(c)(d) | 209,665 | 6,567 | |
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (c)(d) | 43,548 | 753,816 | |
Astera Labs, Inc.: | |||
Series A(c)(d) | 85,993 | 874,549 | |
Series B(c)(d) | 14,642 | 148,909 | |
Series C(a)(c)(d) | 371,500 | 3,778,155 | |
Series D(c)(d) | 291,891 | 2,968,531 | |
GaN Systems, Inc.: | |||
Series F1(c)(d) | 50,937 | 280,663 | |
Series F2(c)(d) | 26,897 | 148,202 | |
SiMa.ai: | |||
Series B(a)(c)(d) | 338,113 | 2,109,825 | |
Series B1(c)(d) | 22,648 | 165,330 | |
Xsight Labs Ltd. Series D (a)(c)(d) | 167,386 | 1,178,397 | |
12,406,377 | |||
Software - 0.2% | |||
Bolt Technology OU Series E (c)(d) | 13,569 | 1,735,901 | |
Databricks, Inc.: | |||
Series G(a)(c)(d) | 53,226 | 2,514,929 | |
Series H(a)(c)(d) | 56,454 | 2,667,452 | |
Dataminr, Inc. Series D (a)(c)(d) | 442,241 | 8,062,053 | |
Evozyne LLC Series A (a)(c)(d) | 101,400 | 1,580,826 | |
Skyryse, Inc. Series B (a)(c)(d) | 117,170 | 2,356,289 | |
Stripe, Inc. Series H (a)(c)(d) | 19,200 | 487,296 | |
Tenstorrent, Inc. Series C1 (a)(c)(d) | 21,000 | 1,122,240 | |
20,526,986 | |||
TOTAL INFORMATION TECHNOLOGY | 34,405,310 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(c)(d) | 36,990 | 1,709,678 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 355,446 | 11,527,114 | |
TOTAL MATERIALS | 13,236,792 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(c)(d) | 16,253 | 526,760 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 224,279,548 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(c)(d) | 5,678,726 | 121,525 | |
Waymo LLC Series A2 (a)(c)(d) | 10,731 | 494,592 | |
616,117 | |||
Internet & Direct Marketing Retail - 0.1% | |||
Circle Internet Financial Ltd. Series E (c) | 137,221 | 6,741,434 | |
TOTAL CONSUMER DISCRETIONARY | 7,357,551 | ||
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(c)(d) | 13,511 | 2,923,916 | |
Faraday Pharmaceuticals, Inc. Series B (a)(c)(d) | 219,824 | 235,212 | |
3,159,128 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 10,516,679 | ||
TOTAL PREFERRED STOCKS (Cost $204,310,877) | 234,796,227 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 10/27/25 (c)(d)(h) | 1,347,300 | 1,199,366 | |
4% 5/22/27 (c)(d) | 857,900 | 738,395 | |
4% 6/12/27 (c)(d) | 25,455 | 21,909 | |
1,959,670 | |||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (c)(d) | 3,000,000 | 3,152,700 | |
TOTAL CONVERTIBLE BONDS (Cost $5,230,655) | 5,112,370 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/23 (c)(d)(i) | 614,446 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (c)(d)(j) | 1,612,660 | 1,612,660 | |
TOTAL HEALTH CARE | 1,612,660 | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. 0% 1/29/23 (c)(d) | 346,804 | 326,343 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
GaN Systems, Inc. 0% (c)(d)(j) | 1,193,899 | 755,141 | |
Software - 0.0% | |||
Tenstorrent, Inc. 0% (c)(d)(j) | 1,170,000 | 1,051,596 | |
TOTAL INFORMATION TECHNOLOGY | 2,133,080 | ||
TOTAL PREFERRED SECURITIES (Cost $4,937,809) | 3,745,740 | ||
Money Market Funds - 1.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 3.86% (k) | 53,633,285 | 53,644,011 | |
Fidelity Securities Lending Cash Central Fund 3.86% (k)(l) | 137,210,871 | 137,224,592 | |
TOTAL MONEY MARKET FUNDS (Cost $190,868,603) | 190,868,603 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $7,080,202,465) | 12,600,244,258 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (52,588,757) |
NET ASSETS - 100.0% | 12,547,655,501 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 393 | Dec 2022 | 80,196,563 | 202,903 | 202,903 |
The notional amount of futures purchased as a percentage of Net Assets is 0.6% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(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 $426,410,207 or 3.4% of net assets. |
(d) | Level 3 security |
(e) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(f) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $70,286,918 or 0.6% of net assets. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(i) | Non-income producing - Security is in default. |
(j) | Security is perpetual in nature with no stated maturity date. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(l) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Adimab LLC | 9/17/14 - 6/05/15 | 11,583,995 |
AgBiome LLC Series C | 6/29/18 | 2,144,369 |
AgBiome LLC Series D | 9/03/21 | 749,101 |
Aledade, Inc. Series B1 | 5/07/21 | 880,380 |
Aledade, Inc. Series E1 | 5/20/22 | 892,475 |
Alif Semiconductor Series C | 3/08/22 | 883,961 |
Altos Labs, Inc. Series B | 7/22/22 | 2,337,713 |
Ankyra Therapeutics Series B | 8/26/21 | 1,449,327 |
Ant International Co. Ltd. Class C | 5/16/18 | 2,351,948 |
Apogee Therapeutics Series B | 11/15/22 | 1,870,160 |
AppNexus, Inc. Series E (Escrow) | 8/01/14 | 0 |
Asimov, Inc. Series B | 10/29/21 | 1,462,779 |
Astera Labs, Inc. Series A | 5/17/22 | 874,506 |
Astera Labs, Inc. Series B | 5/17/22 | 148,902 |
Astera Labs, Inc. Series C | 8/24/21 | 1,248,909 |
Astera Labs, Inc. Series D | 5/17/22 | 2,968,386 |
Beta Technologies, Inc. Series A | 4/09/21 | 804,944 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 1,769,056 |
Bird Global, Inc. | 5/11/21 | 2,283,390 |
Blink Health LLC Series A1 | 12/30/20 | 232,676 |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 7,523,268 |
Blink Health LLC 5% 1/15/24 | 7/15/22 | 3,000,000 |
Bolt Technology OU Series E | 1/03/22 | 3,525,179 |
Boundless Bio, Inc. Series B | 4/23/21 | 831,738 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 1,634,925 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 935,108 |
ByteDance Ltd. Series E1 | 11/18/20 | 9,288,165 |
Caris Life Sciences, Inc. | 10/06/22 | 2,217,662 |
Caris Life Sciences, Inc. Series D | 5/11/21 | 2,070,279 |
Castle Creek Biosciences, Inc. Series D1 | 4/19/22 | 959,034 |
Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 242,100 |
Castle Creek Pharmaceutical Holdings, Inc. Series A4 | 9/29/16 | 4,471,547 |
Castle Creek Pharmaceutical Holdings, Inc. Series B | 10/09/18 | 2,022,184 |
Castle Creek Pharmaceutical Holdings, Inc. Series C | 12/09/19 | 1,058,455 |
Cibus Corp. Series C | 2/16/18 | 2,400,000 |
Cibus Corp. Series D | 5/10/19 | 938,700 |
Cibus Corp. Series E | 6/23/21 | 217,694 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 2,227,100 |
Cleerly, Inc. Series C | 7/08/22 | 3,209,483 |
Conformal Medical, Inc. Series C | 7/24/20 | 882,846 |
Cyclerion Therapeutics, Inc. | 4/02/19 | 2,229,495 |
Databricks, Inc. Series G | 2/01/21 | 3,146,861 |
Databricks, Inc. Series H | 8/31/21 | 4,148,473 |
Dataminr, Inc. Series D | 2/18/15 - 3/06/15 | 5,638,573 |
Deep Genomics, Inc. Series C | 7/21/21 | 1,878,398 |
Diamond Foundry, Inc. Series C | 3/15/21 | 8,530,704 |
Dianthus Therapeutics, Inc. Series A | 4/06/22 | 1,251,762 |
Discord, Inc. Series I | 9/15/21 | 770,874 |
DNA Script | 12/17/21 | 327,504 |
DNA Script Series B | 12/17/21 | 3,203 |
DNA Script Series C | 10/01/21 | 1,791,891 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 3,336,950 |
Element Biosciences, Inc. Series B | 12/13/19 | 1,315,160 |
Element Biosciences, Inc. Series C | 6/21/21 | 2,094,954 |
ElevateBio LLC Series C | 3/09/21 | 1,394,838 |
Enevate Corp. Series E | 1/29/21 | 903,092 |
Enevate Corp. 0% 1/29/23 | 1/29/21 | 346,804 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 6,785,000 |
Evozyne LLC Series A | 4/09/21 | 2,278,458 |
Fanatics, Inc. Class A | 8/13/20 - 10/24/22 | 6,002,415 |
Faraday Pharmaceuticals, Inc. Series B | 12/30/19 | 288,996 |
Farmers Business Network, Inc. Series G | 9/15/21 | 2,299,217 |
Fog Pharmaceuticals, Inc. Series D | 11/17/22 | 2,664,890 |
Freenome, Inc. Series C | 8/14/20 | 1,262,201 |
Freenome, Inc. Series D | 11/22/21 | 690,407 |
Galvanize Therapeutics Series B | 3/29/22 | 1,764,020 |
GaN Systems, Inc. Series F1 | 11/30/21 | 431,946 |
GaN Systems, Inc. Series F2 | 11/30/21 | 228,087 |
GaN Systems, Inc. 0% | 11/30/21 | 1,193,899 |
Generate Biomedicines Series B | 11/02/21 | 1,865,072 |
GoBrands, Inc. Series G | 3/02/21 | 6,700,664 |
GoBrands, Inc. Series H | 7/22/21 | 8,302,821 |
Inscripta, Inc. Series D | 11/13/20 | 1,411,367 |
Inscripta, Inc. Series E | 3/30/21 | 1,963,412 |
Instacart, Inc. Series H | 11/13/20 | 834,240 |
Instacart, Inc. Series I | 2/26/21 | 792,625 |
Intarcia Therapeutics, Inc. Series EE | 9/02/16 | 6,992,640 |
Intarcia Therapeutics, Inc. 6% 7/18/23 | 2/26/19 | 614,446 |
JUUL Labs, Inc. Class A | 7/06/18 | 392,042 |
JUUL Labs, Inc. Series E | 7/06/18 | 196,006 |
Kardium, Inc. Series D6 | 12/30/20 | 1,154,861 |
Kardium, Inc. 0% | 12/30/20 | 1,612,660 |
Korro Bio, Inc. Series B1 | 12/17/21 | 630,106 |
Korro Bio, Inc. Series B2 | 12/17/21 | 630,106 |
Laronde, Inc. Series B | 8/13/21 | 1,860,096 |
LifeMine Therapeutics, Inc. Series C | 2/15/22 | 3,626,739 |
Meesho Series F | 9/21/21 | 4,789,029 |
Menlo Micro, Inc. Series C | 2/09/22 | 1,272,194 |
MOD Super Fast Pizza Holdings LLC Series 3 | 11/03/16 | 2,225,976 |
MOD Super Fast Pizza Holdings LLC Series 4 | 12/14/17 | 207,516 |
MOD Super Fast Pizza Holdings LLC Series 5 | 5/15/19 | 848,707 |
National Resilience, Inc. Series B | 12/01/20 | 3,434,780 |
National Resilience, Inc. Series C | 6/28/21 | 1,991,789 |
Neutron Holdings, Inc. | 2/04/21 | 4,384 |
Neutron Holdings, Inc. Series 1D | 1/25/19 | 1,377,091 |
Neutron Holdings, Inc. 4% 10/27/25 | 10/29/21 | 1,347,300 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 857,900 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 25,455 |
Nohla Therapeutics, Inc. Series B | 5/01/18 | 1,096,231 |
Oddity Tech Ltd. | 1/06/22 | 958,093 |
Odyssey Therapeutics Series B | 9/30/22 | 2,955,958 |
Omada Health, Inc. Series E | 12/22/21 | 2,608,284 |
Paragon Biosciences Emalex Capital, Inc. Series B | 9/18/19 | 2,020,004 |
Paragon Biosciences Emalex Capital, Inc. Series C | 2/26/21 | 1,238,974 |
Paragon Biosciences Emalex Capital, Inc. Series D1 | 10/21/22 | 2,327,367 |
Paragon Biosciences Emalex Capital, Inc. Series D2 | 5/18/22 | 382,943 |
PrognomIQ, Inc. Series A5 | 8/20/20 | 50,461 |
PrognomIQ, Inc. Series B | 9/11/20 | 454,100 |
PrognomIQ, Inc. Series C | 2/16/22 | 203,508 |
Quell Therapeutics Ltd. Series B | 11/24/21 | 1,438,224 |
Rad Power Bikes, Inc. | 1/21/21 | 1,202,019 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 156,712 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 616,636 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 2,069,142 |
Reddit, Inc. Series B | 7/26/17 | 538,544 |
Reddit, Inc. Series E | 5/18/21 | 217,765 |
Reddit, Inc. Series F | 8/11/21 | 2,498,224 |
Redwood Materials Series C | 5/28/21 | 770,449 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 928,004 |
Saluda Medical Pty Ltd. Series D | 1/20/22 | 1,402,995 |
Saluda Medical Pty Ltd. warrants | 1/20/22 | 0 |
Scholar Rock Holding Corp. warrants 12/31/25 | 6/17/22 | 0 |
Scorpion Therapeutics, Inc. Series B | 1/08/21 | 585,688 |
SiMa.ai Series B | 5/10/21 | 1,733,641 |
SiMa.ai Series B1 | 4/25/22 | 160,595 |
Skyhawk Therapeutics, Inc. | 5/21/21 | 2,069,954 |
Skyryse, Inc. Series B | 10/21/21 | 2,891,752 |
Sonoma Biotherapeutics, Inc. Series B | 7/26/21 | 951,243 |
Sonoma Biotherapeutics, Inc. Series B1 | 7/26/21 | 760,993 |
Space Exploration Technologies Corp. Class A | 10/16/15 - 4/06/17 | 12,876,729 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 4,177,960 |
SpringWorks Therapeutics, Inc. | 9/07/22 | 3,256,452 |
Stripe, Inc. Class B | 5/18/21 | 1,745,585 |
Stripe, Inc. Series H | 3/15/21 | 770,400 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 1,150,045 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 1,248,540 |
Tenstorrent, Inc. 0% | 4/23/21 | 1,170,000 |
The Beauty Health Co. | 12/08/20 | 5,538,280 |
The Oncology Institute, Inc. | 6/28/21 | 3,773,750 |
Tory Burch LLC | 5/14/15 | 17,704,966 |
Treeline Biosciences Series A | 7/30/21 - 10/27/22 | 2,267,627 |
Treeline Biosciences Series A1 | 10/27/22 | 1,236,758 |
Waymo LLC Series A2 | 5/08/20 | 921,441 |
Wugen, Inc. Series B | 7/09/21 | 750,038 |
X Holdings I, Inc. | 10/27/21 | 1,326,759 |
Xsight Labs Ltd. Series D | 2/16/21 | 1,338,418 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 3.86% | 76,613,355 | 5,013,839,173 | 5,036,808,517 | 1,368,331 | - | - | 53,644,011 | 0.1% |
Fidelity Securities Lending Cash Central Fund 3.86% | 317,559,429 | 1,317,495,946 | 1,497,830,783 | 1,290,072 | - | - | 137,224,592 | 0.4% |
Total | 394,172,784 | 6,331,335,119 | 6,534,639,300 | 2,658,403 | - | - | 190,868,603 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,007,025,871 | 978,003,809 | - | 29,022,062 |
Consumer Discretionary | 2,488,230,762 | 2,431,871,989 | 12,744,976 | 43,613,797 |
Consumer Staples | 582,296,480 | 570,814,520 | 244,686 | 11,237,274 |
Energy | 502,493,335 | 471,248,481 | 31,244,854 | - |
Financials | 220,851,863 | 181,039,924 | - | 39,811,939 |
Health Care | 2,046,810,711 | 1,938,253,594 | 20,885,535 | 87,671,582 |
Industrials | 741,779,730 | 583,721,077 | 21,658,301 | 136,400,352 |
Information Technology | 4,504,398,229 | 4,461,938,942 | 5,957,010 | 36,502,277 |
Materials | 249,098,908 | 231,927,977 | - | 17,170,931 |
Real Estate | 48,739,194 | 48,739,194 | - | - |
Utilities | 8,792,462 | - | 8,265,702 | 526,760 |
Corporate Bonds | 5,112,370 | - | - | 5,112,370 |
Preferred Securities | 3,745,740 | - | - | 3,745,740 |
Money Market Funds | 190,868,603 | 190,868,603 | - | - |
Total Investments in Securities: | 12,600,244,258 | 12,088,428,110 | 101,001,064 | 410,815,084 |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | 202,903 | 202,903 | - | - |
Total Assets | 202,903 | 202,903 | - | - |
Total Derivative Instruments: | 202,903 | 202,903 | - | - |
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 111,656,691 | |
Net Realized Gain (Loss) on Investment Securities | (22,690,656) | ||
Net Unrealized Gain (Loss) on Investment Securities | 48,798,397 | ||
Cost of Purchases | 1,769,056 | ||
Proceeds of Sales | (63,293) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | (3,069,843) | ||
Ending Balance | $ | 136,400,352 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | 26,090,220 | |
Other Investments in Securities | |||
Beginning Balance | $ | 286,140,142 | |
Net Realized Gain (Loss) on Investment Securities | (1,423,202) | ||
Net Unrealized Gain (Loss) on Investment Securities | (65,646,981) | ||
Cost of Purchases | 52,458,473 | ||
Proceeds of Sales | (223,939) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 3,110,239 | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 274,414,732 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | (67,209,290) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 202,903 | 0 |
Total Equity Risk | 202,903 | 0 |
Total Value of Derivatives | 202,903 | 0 |
Statement of Assets and Liabilities | ||||
November 30, 2022 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $138,977,039) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $6,889,333,862) | $12,409,375,655 | |||
Fidelity Central Funds (cost $190,868,603) | 190,868,603 | |||
Total Investment in Securities (cost $7,080,202,465) | $ | 12,600,244,258 | ||
Cash | 55,191 | |||
Foreign currency held at value (cost $149,201) | 169,189 | |||
Receivable for investments sold | 7,131,166 | |||
Receivable for fund shares sold | 452,788,090 | |||
Dividends receivable | 7,975,043 | |||
Interest receivable | 178,638 | |||
Distributions receivable from Fidelity Central Funds | 223,687 | |||
Receivable for daily variation margin on futures contracts | 202,903 | |||
Other receivables | 51,157 | |||
Total assets | 13,069,019,322 | |||
Liabilities | ||||
Payable for investments purchased | $382,558,912 | |||
Payable for fund shares redeemed | 143,689 | |||
Other payables and accrued expenses | 1,447,014 | |||
Collateral on securities loaned | 137,214,206 | |||
Total Liabilities | 521,363,821 | |||
Net Assets | $ | 12,547,655,501 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 7,156,013,835 | ||
Total accumulated earnings (loss) | 5,391,641,666 | |||
Net Assets | $ | 12,547,655,501 | ||
Net Asset Value , offering price and redemption price per share ($12,547,655,501 ÷ 831,421,902 shares) | $ | 15.09 | ||
Statement of Operations | ||||
Year ended November 30, 2022 | ||||
Investment Income | ||||
Dividends | $ | 70,155,514 | ||
Interest | 125,654 | |||
Income from Fidelity Central Funds (including $1,290,072 from security lending) | 2,658,403 | |||
Total Income | 72,939,571 | |||
Expenses | ||||
Custodian fees and expenses | 238,770 | |||
Independent trustees' fees and expenses | 42,713 | |||
Interest | 22,805 | |||
Total expenses before reductions | 304,288 | |||
Expense reductions | (701) | |||
Total expenses after reductions | 303,587 | |||
Net Investment income (loss) | 72,635,984 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of foreign taxes of $646,548) | (145,341,070) | |||
Foreign currency transactions | (46,755) | |||
Futures contracts | 3,565,705 | |||
Total net realized gain (loss) | (141,822,120) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $1,493,995) | (3,991,420,574) | |||
Unfunded commitments | 462,888 | |||
Assets and liabilities in foreign currencies | 80,815 | |||
Futures contracts | 202,903 | |||
Total change in net unrealized appreciation (depreciation) | (3,990,673,968) | |||
Net gain (loss) | (4,132,496,088) | |||
Net increase (decrease) in net assets resulting from operations | $ | (4,059,860,104) |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2022 | Year ended November 30, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 72,635,984 | $ | 54,065,811 |
Net realized gain (loss) | (141,822,120) | 3,574,332,861 | ||
Change in net unrealized appreciation (depreciation) | (3,990,673,968) | 390,342,151 | ||
Net increase (decrease) in net assets resulting from operations | (4,059,860,104) | 4,018,740,823 | ||
Distributions to shareholders | (3,620,786,672) | (3,221,895,370) | ||
Share transactions | ||||
Proceeds from sales of shares | 5,783,530,379 | 2,049,321,658 | ||
Reinvestment of distributions | 3,620,786,672 | 3,221,895,370 | ||
Cost of shares redeemed | (2,354,119,124) | (5,726,877,650) | ||
Net increase (decrease) in net assets resulting from share transactions | 7,050,197,927 | (455,660,622) | ||
Total increase (decrease) in net assets | (630,448,849) | 341,184,831 | ||
Net Assets | ||||
Beginning of period | 13,178,104,350 | 12,836,919,519 | ||
End of period | $ | 12,547,655,501 | $ | 13,178,104,350 |
Other Information | ||||
Shares | ||||
Sold | 351,665,953 | 82,597,344 | ||
Issued in reinvestment of distributions | 176,279,780 | 142,941,232 | ||
Redeemed | (146,981,386) | (217,576,432) | ||
Net increase (decrease) | 380,964,347 | 7,962,144 | ||
Fidelity® Series Growth Company Fund |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 29.25 | $ | 29.01 | $ | 19.16 | $ | 17.61 | $ | 18.19 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .10 | .10 C | .09 | .11 | .15 D | |||||
Net realized and unrealized gain (loss) | (6.37) | 7.43 | 11.72 | 3.31 | 1.02 | |||||
Total from investment operations | (6.27) | 7.53 | 11.81 | 3.42 | 1.17 | |||||
Distributions from net investment income | (.12) | (.16) | (.13) | (.15) | (.09) | |||||
Distributions from net realized gain | (7.77) | (7.13) | (1.84) | (1.72) | (1.66) | |||||
Total distributions | (7.89) | (7.29) | (1.96) E | (1.87) | (1.75) | |||||
Net asset value, end of period | $ | 15.09 | $ | 29.25 | $ | 29.01 | $ | 19.16 | $ | 17.61 |
Total Return F | (28.60)% | 33.42% | 68.41% | 23.24% | 6.96% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions I | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any I | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions I | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | .60% | .40% C | .41% | .64% | .79% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 12,547,656 | $ | 13,178,104 | $ | 12,836,920 | $ | 11,173,659 | $ | 11,276,470 |
Portfolio turnover rate J | 29% | 34% | 18% | 19% K | 23% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $401,956,968 | Recovery value | Recovery value | $0.00 - $0.03 / $0.00 | Increase |
Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 5.5 - 23.0 / 7.2 | Increase | ||
Enterprise value/Revenue multiple (EV/R) | 2.0 - 24.0 / 7.2 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 7.5 | Increase | |||
Premium rate | 5.0% | Increase | |||
Probability rate | 20.0% - 80.0% / 50.0% | Increase | |||
Liquidity preference | $204.67 - $232.61 / $219.38 | Increase | |||
Market approach | Parity price | $0.79 | Increase | ||
Discount rate | 5.3% - 53.6% / 24.6% | Decrease | |||
Transaction price | $0.02 - $215.03 / $38.30 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Discounted cash flow | Discount rate | 14.0% | Decrease | ||
Weighted average cost of capital (WACC) | 25.0% - 37.0% / 32.9% | Decrease | |||
Exit multiple | 1.8 - 5.5 / 3.4 | Increase | |||
Book value | Book value multiple | 1.0 - 1.5 / 1.1 | Increase | ||
Black scholes | Volatility | 55.0% - 100.0% / 71.2% | Increase | ||
Term | 2.0 - 4.0 / 2.7 | Increase | |||
Corporate Bonds | $5,112,370 | Market comparable | Discount rate | 21.7% - 29.2% / 23.7% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 2.9 - 12.0 / 8.5 | Increase | |||
Probability rate | 10.0% - 50.0% / 33.2% | Increase | |||
Black scholes | Volatility | 50.0% - 75.0% / 56.9% | Increase | ||
Term | 0.6 - 1.1 / 0.7 | Increase | |||
Preferred Securities | $3,745,740 | Recovery value | Recovery value | $0.00 | Increase |
Market Comparable | Enterprise value/Revenue multiple (EV/R) | 4.8 | Increase | ||
Probability rate | 10.0% - 90.0% / 50.0% | Increase | |||
Market approach | Discount rate | 10.0% - 50.0% / 19.5% | Decrease | ||
Transaction price | $1.10 - $100.00 / $89.21 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Black scholes | Volatility | 70.0% - 100.0% / 77.1% | Increase | ||
Term | 2.0 - 3.0 / 2.2 | Increase |
Gross unrealized appreciation | $6,138,202,762 |
Gross unrealized depreciation | (746,373,659) |
Net unrealized appreciation (depreciation) | $5,391,829,103 |
Tax Cost | $7,208,415,155 |
Undistributed ordinary income | $ 63,054,864 |
Capital loss carryforward | $(61,860,546) |
Net unrealized appreciation (depreciation) on securities and other investments | $5,391,823,965 |
Short-term | $(61,860,546) |
November 30, 2022 | November 30, 2021 | |
Ordinary Income | $373,646,089 | $146,831,745 |
Long-term Capital Gains | 3,247,140,583 | 3,075,063,625 |
Total | $3,620,786,672 | $3,221,895,370 |
$ Amount | % of Net Assets | |
Fidelity Series Growth Company Fund | 48,184,726 | .38 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Series Growth Company Fund | 6,861,212,247 | 3,463,789,039 |
Amount | |
Fidelity Series Growth Company Fund | $118,779 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Series Growth Company Fund | Borrower | $ 97,476,125 | 1.05% | $22,805 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Growth Company Fund | 1,112,011,650 | 236,423,894 | 14,124,839 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Series Growth Company Fund | $134,763 | $106,050 | $13,080 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® Series Growth Company Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,002.70 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,025.07 | $- E | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® New Millennium Fund® | 8.45% | 9.87% | 12.15% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® New Millennium Fund® on November 30, 2012. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Exxon Mobil Corp. | 3.8 | |
Bristol-Myers Squibb Co. | 2.9 | |
General Electric Co. | 2.5 | |
Eli Lilly & Co. | 2.3 | |
Wells Fargo & Co. | 2.2 | |
American International Group, Inc. | 2.2 | |
Hess Corp. | 2.1 | |
Bank of America Corp. | 1.9 | |
UnitedHealth Group, Inc. | 1.8 | |
EQT Corp. | 1.8 | |
23.5 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 18.2 | |
Health Care | 16.2 | |
Energy | 15.1 | |
Industrials | 12.5 | |
Information Technology | 7.9 | |
Consumer Discretionary | 7.8 | |
Materials | 4.8 | |
Communication Services | 3.5 | |
Utilities | 3.1 | |
Consumer Staples | 3.0 | |
Real Estate | 2.5 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 15.4% |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable. |
Common Stocks - 93.2% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 3.5% | |||
Diversified Telecommunication Services - 0.8% | |||
Verizon Communications, Inc. | 557,500 | 21,731 | |
Entertainment - 0.5% | |||
Endeavor Group Holdings, Inc. (a) | 557,217 | 12,253 | |
Interactive Media & Services - 0.8% | |||
Alphabet, Inc. Class A (a) | 196,000 | 19,794 | |
Media - 1.4% | |||
Comcast Corp. Class A | 1,025,900 | 37,589 | |
TOTAL COMMUNICATION SERVICES | 91,367 | ||
CONSUMER DISCRETIONARY - 7.5% | |||
Auto Components - 0.9% | |||
American Axle & Manufacturing Holdings, Inc. (a) | 842,100 | 8,766 | |
Aptiv PLC (a) | 73,600 | 7,851 | |
Magna International, Inc. Class A (b) | 99,400 | 6,122 | |
22,739 | |||
Automobiles - 0.5% | |||
General Motors Co. | 349,100 | 14,159 | |
Hotels, Restaurants & Leisure - 1.1% | |||
Booking Holdings, Inc. (a) | 7,200 | 14,972 | |
Churchill Downs, Inc. | 56,800 | 12,607 | |
27,579 | |||
Household Durables - 0.6% | |||
Mohawk Industries, Inc. (a) | 69,400 | 7,032 | |
NVR, Inc. (a) | 1,710 | 7,933 | |
14,965 | |||
Internet & Direct Marketing Retail - 0.9% | |||
Coupang, Inc. Class A (a) | 736,906 | 14,355 | |
eBay, Inc. | 207,400 | 9,424 | |
23,779 | |||
Leisure Products - 0.1% | |||
Peloton Interactive, Inc. Class A (a)(b) | 222,016 | 2,527 | |
Specialty Retail - 1.0% | |||
Best Buy Co., Inc. | 104,400 | 8,905 | |
Industria de Diseno Textil SA | 598,800 | 15,631 | |
24,536 | |||
Textiles, Apparel & Luxury Goods - 2.4% | |||
Brunello Cucinelli SpA | 545,800 | 36,131 | |
PVH Corp. | 106,100 | 7,128 | |
Ralph Lauren Corp. (b) | 64,300 | 7,274 | |
Tapestry, Inc. | 318,400 | 12,026 | |
62,559 | |||
TOTAL CONSUMER DISCRETIONARY | 192,843 | ||
CONSUMER STAPLES - 2.9% | |||
Beverages - 1.8% | |||
Boston Beer Co., Inc. Class A (a) | 17,400 | 6,688 | |
Diageo PLC sponsored ADR | 63,900 | 11,921 | |
The Coca-Cola Co. | 414,700 | 26,379 | |
44,988 | |||
Food & Staples Retailing - 1.1% | |||
Walmart, Inc. | 192,700 | 29,371 | |
TOTAL CONSUMER STAPLES | 74,359 | ||
ENERGY - 15.1% | |||
Energy Equipment & Services - 1.1% | |||
Noble Corp. PLC (a) | 1,334 | 50 | |
Odfjell Drilling Ltd. (a) | 741,827 | 1,961 | |
Odfjell Technology Ltd. (a) | 185,782 | 600 | |
Schlumberger Ltd. | 399,200 | 20,579 | |
Technip Energies NV ADR (b) | 58,160 | 909 | |
TechnipFMC PLC (a) | 291,100 | 3,610 | |
27,709 | |||
Oil, Gas & Consumable Fuels - 14.0% | |||
Canadian Natural Resources Ltd. | 626,400 | 37,398 | |
Cheniere Energy, Inc. | 194,600 | 34,125 | |
Energy Transfer LP | 699,300 | 8,769 | |
EQT Corp. | 1,082,000 | 45,888 | |
Exxon Mobil Corp. | 875,100 | 97,434 | |
Golar LNG Ltd. (a) | 741,400 | 18,587 | |
Harbour Energy PLC | 572,642 | 2,199 | |
Hess Corp. | 381,100 | 54,844 | |
Range Resources Corp. | 460,900 | 13,306 | |
The Williams Companies, Inc. (b) | 853,397 | 29,613 | |
Valero Energy Corp. | 152,400 | 20,364 | |
362,527 | |||
TOTAL ENERGY | 390,236 | ||
FINANCIALS - 18.2% | |||
Banks - 6.3% | |||
Bank of America Corp. | 1,285,500 | 48,656 | |
Comerica, Inc. | 151,000 | 10,833 | |
HDFC Bank Ltd. sponsored ADR | 140,700 | 9,929 | |
PNC Financial Services Group, Inc. | 215,400 | 36,243 | |
Wells Fargo & Co. | 1,207,400 | 57,895 | |
163,556 | |||
Capital Markets - 3.4% | |||
Goldman Sachs Group, Inc. | 74,500 | 28,768 | |
Morgan Stanley | 282,200 | 26,264 | |
Sixth Street Specialty Lending, Inc. | 1,082,729 | 20,399 | |
TPG, Inc. (b) | 355,900 | 11,851 | |
87,282 | |||
Diversified Financial Services - 0.7% | |||
Equitable Holdings, Inc. | 249,100 | 7,906 | |
Housing Development Finance Corp. Ltd. | 299,068 | 9,949 | |
17,855 | |||
Insurance - 6.8% | |||
American International Group, Inc. | 895,800 | 56,534 | |
Arch Capital Group Ltd. (a) | 546,400 | 32,735 | |
Chubb Ltd. | 180,909 | 39,726 | |
First American Financial Corp. | 121,800 | 6,656 | |
Hiscox Ltd. | 639,207 | 7,798 | |
MetLife, Inc. | 317,300 | 24,337 | |
RenaissanceRe Holdings Ltd. | 33,000 | 6,234 | |
174,020 | |||
Thrifts & Mortgage Finance - 1.0% | |||
Radian Group, Inc. | 1,297,923 | 25,400 | |
TOTAL FINANCIALS | 468,113 | ||
HEALTH CARE - 15.6% | |||
Biotechnology - 1.1% | |||
Amgen, Inc. | 83,600 | 23,943 | |
Day One Biopharmaceuticals, Inc. (a) | 166,300 | 3,531 | |
27,474 | |||
Health Care Equipment & Supplies - 2.2% | |||
Becton, Dickinson & Co. | 68,200 | 17,005 | |
Boston Scientific Corp. (a) | 398,900 | 18,058 | |
Embecta Corp. | 13,640 | 449 | |
Hologic, Inc. (a) | 155,100 | 11,812 | |
Masimo Corp. (a) | 64,800 | 9,392 | |
56,716 | |||
Health Care Providers & Services - 5.4% | |||
Centene Corp. (a) | 262,200 | 22,825 | |
Cigna Corp. | 93,300 | 30,685 | |
Guardant Health, Inc. (a) | 184,500 | 9,657 | |
Henry Schein, Inc. (a) | 227,700 | 18,425 | |
LifeStance Health Group, Inc. (a) | 586,000 | 2,983 | |
Oak Street Health, Inc. (a) | 359,633 | 7,775 | |
UnitedHealth Group, Inc. | 88,200 | 48,312 | |
140,662 | |||
Life Sciences Tools & Services - 0.1% | |||
10X Genomics, Inc. (a) | 96,400 | 3,727 | |
Pharmaceuticals - 6.8% | |||
Bristol-Myers Squibb Co. | 929,200 | 74,596 | |
Eli Lilly & Co. | 160,100 | 59,410 | |
Euroapi SASU (a) | 5,313 | 95 | |
Roche Holding AG (participation certificate) | 52,080 | 17,011 | |
Sanofi SA | 122,200 | 11,038 | |
UCB SA | 64,200 | 5,182 | |
Viatris, Inc. | 684,800 | 7,553 | |
174,885 | |||
TOTAL HEALTH CARE | 403,464 | ||
INDUSTRIALS - 12.1% | |||
Aerospace & Defense - 5.9% | |||
BWX Technologies, Inc. | 202,700 | 12,342 | |
General Dynamics Corp. | 133,600 | 33,719 | |
Huntington Ingalls Industries, Inc. | 136,200 | 31,593 | |
Northrop Grumman Corp. | 59,300 | 31,624 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(c)(d) | 585,890 | 41,012 | |
Class C (a)(c)(d) | 8,180 | 573 | |
150,863 | |||
Air Freight & Logistics - 0.2% | |||
GXO Logistics, Inc. (a) | 101,400 | 4,752 | |
Building Products - 0.3% | |||
Fortune Brands Home & Security, Inc. | 118,500 | 7,743 | |
Construction & Engineering - 0.6% | |||
AECOM | 118,500 | 10,073 | |
Argan, Inc. | 164,600 | 6,247 | |
16,320 | |||
Electrical Equipment - 0.4% | |||
Sensata Technologies, Inc. PLC | 206,900 | 9,331 | |
Industrial Conglomerates - 2.5% | |||
General Electric Co. | 752,712 | 64,711 | |
Machinery - 0.5% | |||
Donaldson Co., Inc. | 121,700 | 7,414 | |
Pentair PLC | 138,900 | 6,357 | |
13,771 | |||
Marine - 0.1% | |||
Goodbulk Ltd. unit (d) | 959,290 | 3,367 | |
Professional Services - 0.7% | |||
Leidos Holdings, Inc. | 92,700 | 10,135 | |
Science Applications International Corp. | 72,000 | 7,928 | |
18,063 | |||
Road & Rail - 0.9% | |||
Knight-Swift Transportation Holdings, Inc. Class A (b) | 327,386 | 18,147 | |
RXO, Inc. (a) | 104,800 | 1,991 | |
XPO Logistics, Inc. (a) | 104,800 | 4,047 | |
24,185 | |||
TOTAL INDUSTRIALS | 313,106 | ||
INFORMATION TECHNOLOGY - 7.9% | |||
Communications Equipment - 1.3% | |||
Cisco Systems, Inc. | 663,000 | 32,964 | |
Electronic Equipment & Components - 1.3% | |||
Flex Ltd. (a) | 650,100 | 14,289 | |
Keysight Technologies, Inc. (a) | 106,600 | 19,283 | |
33,572 | |||
IT Services - 2.7% | |||
Akamai Technologies, Inc. (a) | 117,200 | 11,118 | |
Euronet Worldwide, Inc. (a) | 58,700 | 5,456 | |
Fiserv, Inc. (a) | 128,701 | 13,431 | |
Global Payments, Inc. | 48,300 | 5,013 | |
MongoDB, Inc. Class A (a) | 45,700 | 6,978 | |
Visa, Inc. Class A | 134,900 | 29,273 | |
71,269 | |||
Semiconductors & Semiconductor Equipment - 1.3% | |||
Analog Devices, Inc. | 82,500 | 14,183 | |
Intel Corp. | 466,200 | 14,019 | |
Skyworks Solutions, Inc. | 55,300 | 5,288 | |
33,490 | |||
Software - 1.3% | |||
Dynatrace, Inc. (a) | 245,100 | 9,498 | |
Microsoft Corp. | 92,600 | 23,626 | |
33,124 | |||
TOTAL INFORMATION TECHNOLOGY | 204,419 | ||
MATERIALS - 4.8% | |||
Chemicals - 1.3% | |||
Cabot Corp. | 115,000 | 8,466 | |
LG Chemical Ltd. | 20,230 | 11,676 | |
Nutrien Ltd. | 154,120 | 12,387 | |
32,529 | |||
Containers & Packaging - 1.1% | |||
Avery Dennison Corp. | 54,900 | 10,614 | |
O-I Glass, Inc. (a) | 1,174,500 | 19,274 | |
29,888 | |||
Metals & Mining - 2.4% | |||
Franco-Nevada Corp. | 133,400 | 19,486 | |
Freeport-McMoRan, Inc. | 703,600 | 28,003 | |
Newcrest Mining Ltd. | 415,646 | 5,660 | |
Novagold Resources, Inc. (a) | 1,383,780 | 7,973 | |
61,122 | |||
TOTAL MATERIALS | 123,539 | ||
REAL ESTATE - 2.5% | |||
Equity Real Estate Investment Trusts (REITs) - 2.5% | |||
Cousins Properties, Inc. | 186,288 | 4,914 | |
Gaming & Leisure Properties | 262,183 | 13,793 | |
Healthcare Trust of America, Inc. | 235,700 | 4,839 | |
Orion Office (REIT), Inc. | 10,680 | 99 | |
Realty Income Corp. | 106,807 | 6,736 | |
Simon Property Group, Inc. | 74,100 | 8,851 | |
Spirit Realty Capital, Inc. | 260,560 | 10,792 | |
VICI Properties, Inc. | 428,600 | 14,658 | |
64,682 | |||
UTILITIES - 3.1% | |||
Electric Utilities - 1.9% | |||
Duke Energy Corp. | 230,300 | 23,014 | |
FirstEnergy Corp. | 219,500 | 9,052 | |
Southern Co. | 259,200 | 17,532 | |
49,598 | |||
Independent Power and Renewable Electricity Producers - 1.2% | |||
The AES Corp. | 591,800 | 17,115 | |
Vistra Corp. | 521,400 | 12,686 | |
29,801 | |||
TOTAL UTILITIES | 79,399 | ||
TOTAL COMMON STOCKS (Cost $1,639,752) | 2,405,527 | ||
Convertible Preferred Stocks - 1.4% | |||
Shares | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.3% | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Bolt Threads, Inc.: | |||
Series D (a)(c)(d) | 390,327 | 3,716 | |
Series E (a)(c)(d) | 522,488 | 4,974 | |
8,690 | |||
CONSUMER STAPLES - 0.1% | |||
Food Products - 0.1% | |||
Bowery Farming, Inc. Series C1 (a)(c)(d) | 161,754 | 3,672 | |
HEALTH CARE - 0.6% | |||
Biotechnology - 0.6% | |||
National Resilience, Inc. Series B (a)(c)(d) | 243,347 | 14,778 | |
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(c)(d) | 7,570 | 5,299 | |
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series B, 6.00% (c)(d) | 49,853 | 4,109 | |
TOTAL INDUSTRIALS | 9,408 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $34,720) | 36,548 | ||
Money Market Funds - 6.7% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 3.86% (e) | 117,883,934 | 117,908 | |
Fidelity Securities Lending Cash Central Fund 3.86% (e)(f) | 54,888,090 | 54,894 | |
TOTAL MONEY MARKET FUNDS (Cost $172,801) | 172,802 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $1,847,273) | 2,614,877 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (34,801) |
NET ASSETS - 100.0% | 2,580,076 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(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 $78,133,000 or 3.0% of net assets. |
(d) | Level 3 security |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 5,143 |
Bolt Threads, Inc. Series D | 12/13/17 | 6,261 |
Bolt Threads, Inc. Series E | 2/07/20 - 9/02/21 | 9,224 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 9,746 |
National Resilience, Inc. Series B | 12/01/20 | 3,324 |
Space Exploration Technologies Corp. Class A | 4/08/16 - 9/11/17 | 5,980 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 110 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 1,022 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 3.86% | 23,004 | 404,448 | 309,545 | 1,076 | - | 1 | 117,908 | 0.2% |
Fidelity Securities Lending Cash Central Fund 3.86% | 36,767 | 440,211 | 422,084 | 290 | - | - | 54,894 | 0.2% |
Total | 59,771 | 844,659 | 731,629 | 1,366 | - | 1 | 172,802 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 91,367 | 91,367 | - | - |
Consumer Discretionary | 201,533 | 141,081 | 51,762 | 8,690 |
Consumer Staples | 78,031 | 74,359 | - | 3,672 |
Energy | 390,236 | 385,476 | 4,760 | - |
Financials | 468,113 | 450,366 | 17,747 | - |
Health Care | 418,242 | 370,138 | 33,326 | 14,778 |
Industrials | 322,514 | 268,154 | - | 54,360 |
Information Technology | 204,419 | 204,419 | - | - |
Materials | 123,539 | 106,203 | 17,336 | - |
Real Estate | 64,682 | 64,682 | - | - |
Utilities | 79,399 | 79,399 | - | - |
Money Market Funds | 172,802 | 172,802 | - | - |
Total Investments in Securities: | 2,614,877 | 2,408,446 | 124,931 | 81,500 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Equities - Industrials | |||
Beginning Balance | $ | 45,462 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 3,755 | ||
Cost of Purchases | 5,143 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 54,360 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | 3,755 | |
Other Investments in Securities | |||
Beginning Balance | $ | 40,555 | |
Net Realized Gain (Loss) on Investment Securities | (5,956) | ||
Net Unrealized Gain (Loss) on Investment Securities | (5,047) | ||
Cost of Purchases | - | ||
Proceeds of Sales | (2,412) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 27,140 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | (10,707) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amount) | November 30, 2022 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $54,147) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,674,472) | $2,442,075 | |||
Fidelity Central Funds (cost $172,801) | 172,802 | |||
Total Investment in Securities (cost $1,847,273) | $ | 2,614,877 | ||
Restricted cash | 457 | |||
Foreign currency held at value (cost $1) | 1 | |||
Receivable for investments sold | ||||
Regular delivery | 12,299 | |||
Delayed delivery | 2,412 | |||
Receivable for fund shares sold | 757 | |||
Dividends receivable | 6,925 | |||
Distributions receivable from Fidelity Central Funds | 364 | |||
Prepaid expenses | 3 | |||
Total assets | 2,638,095 | |||
Liabilities | ||||
Payable for investments purchased | $52 | |||
Payable for fund shares redeemed | 1,500 | |||
Accrued management fee | 1,212 | |||
Other affiliated payables | 305 | |||
Other payables and accrued expenses | 66 | |||
Collateral on securities loaned | 54,884 | |||
Total Liabilities | 58,019 | |||
Net Assets | $ | 2,580,076 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,728,484 | ||
Total accumulated earnings (loss) | 851,592 | |||
Net Assets | $ | 2,580,076 | ||
Net Asset Value , offering price and redemption price per share ($2,580,076 ÷ 60,106 shares) | $ | 42.93 | ||
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2022 | |||
Investment Income | ||||
Dividends | $ | 57,966 | ||
Income from Fidelity Central Funds (including $290 from security lending) | 1,366 | |||
Total Income | 59,332 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 13,174 | ||
Performance adjustment | (3,586) | |||
Transfer agent fees | 3,120 | |||
Accounting fees | 704 | |||
Custodian fees and expenses | 34 | |||
Independent trustees' fees and expenses | 9 | |||
Registration fees | 36 | |||
Audit | 139 | |||
Legal | 5 | |||
Miscellaneous | 9 | |||
Total expenses before reductions | 13,644 | |||
Expense reductions | (82) | |||
Total expenses after reductions | 13,562 | |||
Net Investment income (loss) | 45,770 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 64,769 | |||
Foreign currency transactions | (15) | |||
Total net realized gain (loss) | 64,754 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 97,012 | |||
Fidelity Central Funds | 1 | |||
Assets and liabilities in foreign currencies | 43 | |||
Total change in net unrealized appreciation (depreciation) | 97,056 | |||
Net gain (loss) | 161,810 | |||
Net increase (decrease) in net assets resulting from operations | $ | 207,580 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2022 | Year ended November 30, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 45,770 | $ | 39,349 |
Net realized gain (loss) | 64,754 | 178,290 | ||
Change in net unrealized appreciation (depreciation) | 97,056 | 318,305 | ||
Net increase (decrease) in net assets resulting from operations | 207,580 | 535,944 | ||
Distributions to shareholders | (214,586) | (190,997) | ||
Share transactions | ||||
Proceeds from sales of shares | 141,891 | 265,604 | ||
Reinvestment of distributions | 203,394 | 181,627 | ||
Cost of shares redeemed | (387,959) | (493,222) | ||
Net increase (decrease) in net assets resulting from share transactions | (42,674) | (45,991) | ||
Total increase (decrease) in net assets | (49,680) | 298,956 | ||
Net Assets | ||||
Beginning of period | 2,629,756 | 2,330,800 | ||
End of period | $ | 2,580,076 | $ | 2,629,756 |
Other Information | ||||
Shares | ||||
Sold | 3,525 | 6,486 | ||
Issued in reinvestment of distributions | 4,871 | 5,013 | ||
Redeemed | (9,529) | (11,970) | ||
Net increase (decrease) | (1,133) | (471) | ||
Fidelity® New Millennium Fund® |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 42.94 | $ | 37.77 | $ | 38.43 | $ | 40.52 | $ | 42.70 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .75 | .62 | .54 | .62 | .43 | |||||
Net realized and unrealized gain (loss) | 2.77 | 7.70 | .45 | 3.11 | .87 | |||||
Total from investment operations | 3.52 | 8.32 | .99 | 3.73 | 1.30 | |||||
Distributions from net investment income | (.85) | (.58) | (.36) | (.39) | (.36) | |||||
Distributions from net realized gain | (2.68) | (2.56) | (1.29) | (5.43) | (3.12) | |||||
Total distributions | (3.53) | (3.15) C | (1.65) | (5.82) | (3.48) | |||||
Net asset value, end of period | $ | 42.93 | $ | 42.94 | $ | 37.77 | $ | 38.43 | $ | 40.52 |
Total Return D | 8.45% | 23.56% | 2.60% | 12.82% | 3.19% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .54% | .49% | .46% | .61% | .64% | |||||
Expenses net of fee waivers, if any | .54% | .48% | .46% | .61% | .64% | |||||
Expenses net of all reductions | .54% | .48% | .45% | .61% | .63% | |||||
Net investment income (loss) | 1.83% | 1.46% | 1.61% | 1.72% | 1.03% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,580 | $ | 2,630 | $ | 2,331 | $ | 2,991 | $ | 3,206 |
Portfolio turnover rate G | 12% | 19% | 22% | 34% | 37% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $81,500 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 2.3 - 23.9 / 9.3 | Increase |
Market approach | Transaction price | $60.73 | Increase | ||
Expected distribution | $2.25 | Increase |
Gross unrealized appreciation | $887,800 |
Gross unrealized depreciation | (125,339) |
Net unrealized appreciation (depreciation) | $762,461 |
Tax Cost | $1,852,416 |
Undistributed ordinary income | $36,222 |
Undistributed long-term capital gain | $53,220 |
Net unrealized appreciation (depreciation) on securities and other investments | $762,149 |
November 30, 2022 | November 30, 2021 | |
Ordinary Income | $51,882 | $35,395 |
Long-term Capital Gains | 162,704 | 155,602 |
Total | $214,586 | $190,997 |
Purchases ($) | Sales ($) | |
Fidelity New Millennium Fund | 285,929 | 611,301 |
% of Average Net Assets | |
Fidelity New Millennium Fund | .03 |
Amount | |
Fidelity New Millennium Fund | $9 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity New Millennium Fund | 7,266 | 54,249 | 22,612 |
Amount | |
Fidelity New Millennium Fund | $4 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity New Millennium Fund | $30 | $46 | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® New Millennium Fund® | .60% | |||||||||
Actual | $ 1,000 | $ 1,026.70 | $ 3.05 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.06 | $ 3.04 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Growth Strategies Fund | -19.98% | 9.59% | 12.34% |
Class K | -19.89% | 9.72% | 12.51% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Strategies Fund, a class of the fund, on November 30, 2012. The chart shows how the value of your investment would have changed, and also shows how the Russell Midcap® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Cadence Design Systems, Inc. | 3.3 | |
AutoZone, Inc. | 3.2 | |
Mettler-Toledo International, Inc. | 3.0 | |
onsemi | 2.9 | |
Fortinet, Inc. | 2.4 | |
ResMed, Inc. | 2.4 | |
MSCI, Inc. | 2.4 | |
Synopsys, Inc. | 2.4 | |
DexCom, Inc. | 2.2 | |
Molina Healthcare, Inc. | 2.1 | |
26.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 29.0 | |
Industrials | 17.7 | |
Health Care | 17.1 | |
Consumer Discretionary | 12.3 | |
Financials | 7.9 | |
Energy | 4.5 | |
Materials | 3.0 | |
Communication Services | 2.6 | |
Consumer Staples | 2.0 | |
Real Estate | 0.9 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 0.9% |
Common Stocks - 97.0% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 2.6% | |||
Interactive Media & Services - 1.1% | |||
Pinterest, Inc. Class A (a) | 1,250,000 | 31,775 | |
Media - 1.5% | |||
The Trade Desk, Inc. (a) | 881,059 | 45,938 | |
TOTAL COMMUNICATION SERVICES | 77,713 | ||
CONSUMER DISCRETIONARY - 12.3% | |||
Distributors - 2.0% | |||
Genuine Parts Co. | 146,041 | 26,774 | |
Pool Corp. | 95,400 | 31,426 | |
58,200 | |||
Hotels, Restaurants & Leisure - 3.7% | |||
Chipotle Mexican Grill, Inc. (a) | 17,990 | 29,269 | |
Choice Hotels International, Inc. | 152,994 | 18,852 | |
Churchill Downs, Inc. | 118,000 | 26,191 | |
Domino's Pizza, Inc. | 89,000 | 34,597 | |
108,909 | |||
Household Durables - 0.2% | |||
NVR, Inc. (a) | 1,647 | 7,640 | |
Internet & Direct Marketing Retail - 0.2% | |||
eBay, Inc. | 112,700 | 5,121 | |
Multiline Retail - 0.5% | |||
Dollar General Corp. | 64,903 | 16,594 | |
Specialty Retail - 5.6% | |||
AutoZone, Inc. (a) | 36,580 | 94,340 | |
O'Reilly Automotive, Inc. (a) | 67,500 | 58,356 | |
Tractor Supply Co. | 61,135 | 13,835 | |
166,531 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 4,688 | 1,870 | |
TOTAL CONSUMER DISCRETIONARY | 364,865 | ||
CONSUMER STAPLES - 2.0% | |||
Beverages - 0.5% | |||
Brown-Forman Corp. Class B (non-vtg.) | 214,678 | 15,676 | |
Food Products - 1.3% | |||
Bunge Ltd. | 158,000 | 16,565 | |
Darling Ingredients, Inc. (a) | 329,106 | 23,640 | |
40,205 | |||
Personal Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 21,267 | 5,015 | |
TOTAL CONSUMER STAPLES | 60,896 | ||
ENERGY - 4.5% | |||
Oil, Gas & Consumable Fuels - 4.5% | |||
Hess Corp. | 223,800 | 32,207 | |
HF Sinclair Corp. | 317,300 | 19,780 | |
Occidental Petroleum Corp. | 220,298 | 15,309 | |
Ovintiv, Inc. | 432,600 | 24,122 | |
PDC Energy, Inc. | 591,000 | 43,923 | |
135,341 | |||
FINANCIALS - 7.9% | |||
Capital Markets - 6.9% | |||
Ameriprise Financial, Inc. | 70,000 | 23,237 | |
LPL Financial | 131,100 | 31,033 | |
MarketAxess Holdings, Inc. | 65,962 | 17,673 | |
Moody's Corp. | 17,000 | 5,071 | |
MSCI, Inc. | 139,918 | 71,055 | |
Raymond James Financial, Inc. | 286,500 | 33,492 | |
S&P Global, Inc. | 6,400 | 2,258 | |
T. Rowe Price Group, Inc. | 146,300 | 18,274 | |
Tradeweb Markets, Inc. Class A | 38,841 | 2,387 | |
204,480 | |||
Insurance - 1.0% | |||
Arthur J. Gallagher & Co. | 152,600 | 30,384 | |
TOTAL FINANCIALS | 234,864 | ||
HEALTH CARE - 17.1% | |||
Health Care Equipment & Supplies - 5.2% | |||
DexCom, Inc. (a) | 564,271 | 65,613 | |
Edwards Lifesciences Corp. (a) | 82,876 | 6,402 | |
IDEXX Laboratories, Inc. (a) | 16,000 | 6,814 | |
Intuitive Surgical, Inc. (a) | 17,974 | 4,860 | |
ResMed, Inc. | 313,814 | 72,240 | |
155,929 | |||
Health Care Providers & Services - 3.7% | |||
Laboratory Corp. of America Holdings | 54,300 | 13,070 | |
McKesson Corp. | 89,948 | 34,331 | |
Molina Healthcare, Inc. (a) | 183,100 | 61,663 | |
109,064 | |||
Health Care Technology - 1.8% | |||
Doximity, Inc. (a)(b) | 835,210 | 28,389 | |
Veeva Systems, Inc. Class A (a) | 135,000 | 25,699 | |
54,088 | |||
Life Sciences Tools & Services - 6.4% | |||
Agilent Technologies, Inc. | 129,700 | 20,101 | |
Charles River Laboratories International, Inc. (a) | 220,000 | 50,285 | |
Mettler-Toledo International, Inc. (a) | 59,600 | 87,586 | |
West Pharmaceutical Services, Inc. | 132,593 | 31,114 | |
189,086 | |||
TOTAL HEALTH CARE | 508,167 | ||
INDUSTRIALS - 17.7% | |||
Aerospace & Defense - 0.9% | |||
TransDigm Group, Inc. | 43,158 | 27,125 | |
Building Products - 2.6% | |||
Builders FirstSource, Inc. (a) | 270,000 | 17,261 | |
Carlisle Companies, Inc. | 108,800 | 28,626 | |
Carrier Global Corp. | 719,581 | 31,892 | |
77,779 | |||
Commercial Services & Supplies - 4.8% | |||
Cintas Corp. | 123,449 | 57,006 | |
Copart, Inc. (a) | 792,060 | 52,720 | |
Republic Services, Inc. | 136,000 | 18,943 | |
Tetra Tech, Inc. | 32,000 | 4,947 | |
Waste Management, Inc. | 51,000 | 8,554 | |
142,170 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 211,000 | 31,625 | |
Electrical Equipment - 1.7% | |||
AMETEK, Inc. | 190,900 | 27,188 | |
Atkore, Inc. (a) | 186,891 | 22,829 | |
50,017 | |||
Machinery - 2.9% | |||
Cummins, Inc. | 73,257 | 18,399 | |
IDEX Corp. | 91,510 | 21,733 | |
Otis Worldwide Corp. | 212,600 | 16,602 | |
Toro Co. | 263,106 | 29,202 | |
85,936 | |||
Professional Services - 0.7% | |||
Booz Allen Hamilton Holding Corp. Class A | 82,952 | 8,826 | |
CoStar Group, Inc. (a) | 152,800 | 12,383 | |
21,209 | |||
Road & Rail - 2.0% | |||
Old Dominion Freight Lines, Inc. | 196,885 | 59,579 | |
Trading Companies & Distributors - 1.0% | |||
W.W. Grainger, Inc. | 48,572 | 29,292 | |
TOTAL INDUSTRIALS | 524,732 | ||
INFORMATION TECHNOLOGY - 29.0% | |||
Electronic Equipment & Components - 2.6% | |||
Amphenol Corp. Class A | 460,510 | 37,039 | |
Keysight Technologies, Inc. (a) | 221,471 | 40,062 | |
77,101 | |||
IT Services - 4.0% | |||
Adyen BV (a)(c) | 1,392 | 2,193 | |
EPAM Systems, Inc. (a) | 164,904 | 60,780 | |
Paychex, Inc. | 373,000 | 46,263 | |
SS&C Technologies Holdings, Inc. | 166,300 | 8,940 | |
118,176 | |||
Semiconductors & Semiconductor Equipment - 8.5% | |||
Broadcom, Inc. | 12,000 | 6,612 | |
Enphase Energy, Inc. (a) | 147,700 | 47,351 | |
Entegris, Inc. (b) | 500,000 | 38,645 | |
KLA Corp. | 28,000 | 11,008 | |
Lam Research Corp. | 11,577 | 5,469 | |
Lattice Semiconductor Corp. (a) | 343,700 | 25,032 | |
Monolithic Power Systems, Inc. | 57,100 | 21,810 | |
NXP Semiconductors NV | 54,400 | 9,566 | |
onsemi (a) | 1,154,000 | 86,781 | |
252,274 | |||
Software - 13.9% | |||
Atlassian Corp. PLC (a) | 37,978 | 4,996 | |
Cadence Design Systems, Inc. (a) | 576,102 | 99,109 | |
Coupa Software, Inc. (a) | 379,000 | 23,968 | |
Datadog, Inc. Class A (a) | 532,100 | 40,323 | |
Dynatrace, Inc. (a) | 283,820 | 10,998 | |
Fortinet, Inc. (a) | 1,367,000 | 72,670 | |
HubSpot, Inc. (a) | 47,600 | 14,424 | |
Intuit, Inc. | 18,000 | 7,337 | |
NortonLifeLock, Inc. | 693,778 | 15,929 | |
Paycom Software, Inc. (a) | 93,246 | 31,620 | |
Roper Technologies, Inc. | 19,671 | 8,633 | |
Synopsys, Inc. (a) | 208,079 | 70,651 | |
Zoom Video Communications, Inc. Class A (a) | 171,786 | 12,958 | |
413,616 | |||
TOTAL INFORMATION TECHNOLOGY | 861,167 | ||
MATERIALS - 3.0% | |||
Chemicals - 1.5% | |||
CF Industries Holdings, Inc. | 368,200 | 39,836 | |
Sherwin-Williams Co. | 21,987 | 5,479 | |
45,315 | |||
Metals & Mining - 1.5% | |||
Steel Dynamics, Inc. | 420,185 | 43,670 | |
TOTAL MATERIALS | 88,985 | ||
REAL ESTATE - 0.9% | |||
Equity Real Estate Investment Trusts (REITs) - 0.9% | |||
SBA Communications Corp. Class A | 19,471 | 5,828 | |
VICI Properties, Inc. | 590,369 | 20,191 | |
26,019 | |||
TOTAL COMMON STOCKS (Cost $1,775,789) | 2,882,749 | ||
Money Market Funds - 3.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 3.86% (d) | 63,321,126 | 63,334 | |
Fidelity Securities Lending Cash Central Fund 3.86% (d)(e) | 30,123,284 | 30,126 | |
TOTAL MONEY MARKET FUNDS (Cost $93,459) | 93,460 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $1,869,248) | 2,976,209 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (5,367) |
NET ASSETS - 100.0% | 2,970,842 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $2,193,000 or 0.1% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 3.86% | 59,492 | 1,208,954 | 1,205,112 | 1,013 | 1 | (1) | 63,334 | 0.1% |
Fidelity Securities Lending Cash Central Fund 3.86% | 14,439 | 959,372 | 943,685 | 46 | - | - | 30,126 | 0.1% |
Total | 73,931 | 2,168,326 | 2,148,797 | 1,059 | 1 | (1) | 93,460 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 77,713 | 77,713 | - | - |
Consumer Discretionary | 364,865 | 364,865 | - | - |
Consumer Staples | 60,896 | 60,896 | - | - |
Energy | 135,341 | 135,341 | - | - |
Financials | 234,864 | 234,864 | - | - |
Health Care | 508,167 | 508,167 | - | - |
Industrials | 524,732 | 524,732 | - | - |
Information Technology | 861,167 | 858,974 | 2,193 | - |
Materials | 88,985 | 88,985 | - | - |
Real Estate | 26,019 | 26,019 | - | - |
Money Market Funds | 93,460 | 93,460 | - | - |
Total Investments in Securities: | 2,976,209 | 2,974,016 | 2,193 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2022 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $31,073) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,775,789) | $2,882,749 | |||
Fidelity Central Funds (cost $93,459) | 93,460 | |||
Total Investment in Securities (cost $1,869,248) | $ | 2,976,209 | ||
Receivable for investments sold | 59,382 | |||
Receivable for fund shares sold | 1,088 | |||
Dividends receivable | 1,181 | |||
Distributions receivable from Fidelity Central Funds | 233 | |||
Prepaid expenses | 3 | |||
Other receivables | 14 | |||
Total assets | 3,038,110 | |||
Liabilities | ||||
Payable for investments purchased | $33,670 | |||
Payable for fund shares redeemed | 1,487 | |||
Accrued management fee | 1,506 | |||
Other affiliated payables | 416 | |||
Other payables and accrued expenses | 64 | |||
Collateral on securities loaned | 30,125 | |||
Total Liabilities | 67,268 | |||
Net Assets | $ | 2,970,842 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,037,091 | ||
Total accumulated earnings (loss) | 933,751 | |||
Net Assets | $ | 2,970,842 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Strategies : | ||||
Net Asset Value , offering price and redemption price per share ($2,772,991 ÷ 55,604 shares) | $ | 49.87 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($197,851 ÷ 3,918 shares) | $ | 50.50 |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2022 | |||
Investment Income | ||||
Dividends | $ | 18,086 | ||
Income from Fidelity Central Funds (including $46 from security lending) | 1,059 | |||
Total Income | 19,145 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 15,117 | ||
Performance adjustment | 3,331 | |||
Transfer agent fees | 4,294 | |||
Accounting fees | 798 | |||
Custodian fees and expenses | 29 | |||
Independent trustees' fees and expenses | 10 | |||
Registration fees | 77 | |||
Audit | 54 | |||
Legal | 5 | |||
Interest | 4 | |||
Miscellaneous | 14 | |||
Total expenses before reductions | 23,733 | |||
Expense reductions | (98) | |||
Total expenses after reductions | 23,635 | |||
Net Investment income (loss) | (4,490) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (154,443) | |||
Fidelity Central Funds | 1 | |||
Foreign currency transactions | 5 | |||
Total net realized gain (loss) | (154,437) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (557,707) | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | (2) | |||
Total change in net unrealized appreciation (depreciation) | (557,710) | |||
Net gain (loss) | (712,147) | |||
Net increase (decrease) in net assets resulting from operations | $ | (716,637) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2022 | Year ended November 30, 2021 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (4,490) | $ | (7,595) |
Net realized gain (loss) | (154,437) | 458,725 | ||
Change in net unrealized appreciation (depreciation) | (557,710) | 305,051 | ||
Net increase (decrease) in net assets resulting from operations | (716,637) | 756,181 | ||
Distributions to shareholders | (458,304) | (254,989) | ||
Share transactions - net increase (decrease) | 513,523 | (115,670) | ||
Total increase (decrease) in net assets | (661,418) | 385,522 | ||
Net Assets | ||||
Beginning of period | 3,632,260 | 3,246,738 | ||
End of period | $ | 2,970,842 | $ | 3,632,260 |
Fidelity® Growth Strategies Fund |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 71.14 | $ | 61.57 | $ | 50.98 | $ | 41.90 | $ | 40.96 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.08) | (.15) | .04 C | .30 | .25 D | |||||
Net realized and unrealized gain (loss) | (12.20) | 14.72 | 12.31 | 9.13 | .87 | |||||
Total from investment operations | (12.28) | 14.57 | 12.35 | 9.43 | 1.12 | |||||
Distributions from net investment income | - | - | (.22) | (.28) | (.16) | |||||
Distributions from net realized gain | (8.99) | (5.00) | (1.55) | (.06) | (.02) | |||||
Total distributions | (8.99) | (5.00) | (1.76) E | (.35) E | (.18) | |||||
Net asset value, end of period | $ | 49.87 | $ | 71.14 | $ | 61.57 | $ | 50.98 | $ | 41.90 |
Total Return F | (19.98)% | 25.31% | 25.02% | 22.76% | 2.74% | |||||
Ratios to Average Net Assets A,G,H | ||||||||||
Expenses before reductions | .83% | .63% | .63% | .56% | .59% | |||||
Expenses net of fee waivers, if any | .83% | .63% | .63% | .56% | .59% | |||||
Expenses net of all reductions | .83% | .63% | .63% | .55% | .59% | |||||
Net investment income (loss) | (.16)% | (.23)% | .07% C | .67% | .59% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,773 | $ | 3,381 | $ | 3,011 | $ | 2,860 | $ | 2,349 |
Portfolio turnover rate I | 74% J | 49% | 67% | 66% J | 43% J |
Fidelity® Growth Strategies Fund Class K |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 71.85 | $ | 62.08 | $ | 51.38 | $ | 42.23 | $ | 41.29 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.02) | (.08) | .10 C | .36 | .31 D | |||||
Net realized and unrealized gain (loss) | (12.34) | 14.85 | 12.42 | 9.20 | .86 | |||||
Total from investment operations | (12.36) | 14.77 | 12.52 | 9.56 | 1.17 | |||||
Distributions from net investment income | - | - | (.27) | (.34) | (.21) | |||||
Distributions from net realized gain | (8.99) | (5.00) | (1.55) | (.06) | (.02) | |||||
Total distributions | (8.99) | (5.00) | (1.82) | (.41) E | (.23) | |||||
Net asset value, end of period | $ | 50.50 | $ | 71.85 | $ | 62.08 | $ | 51.38 | $ | 42.23 |
Total Return F | (19.89)% | 25.44% | 25.17% | 22.94% | 2.84% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .72% | .52% | .52% | .43% | .46% | |||||
Expenses net of fee waivers, if any | .71% | .52% | .52% | .43% | .46% | |||||
Expenses net of all reductions | .71% | .52% | .51% | .43% | .46% | |||||
Net investment income (loss) | (.05)% | (.13)% | .19% C | .79% | .72% D | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 198 | $ | 251 | $ | 236 | $ | 236 | $ | 205 |
Portfolio turnover rate I | 74% J | 49% | 67% | 66% J | 43% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Growth Strategies Fund | $14 |
Gross unrealized appreciation | $1,113,952 |
Gross unrealized depreciation | (7,099) |
Net unrealized appreciation (depreciation) | $1,106,853 |
Tax Cost | $1,869,356 |
Capital loss carryforward | $(169,462) |
Net unrealized appreciation (depreciation) on securities and other investments | $1,106,852 |
Short-term | $(169,462) |
Total capital loss carryforward | $(169,462) |
November 30, 2022 | November 30, 2021 | |
Long-term Capital Gains | 458,304 | 254,989 |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies Fund | 2,175,347 | 2,116,126 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Strategies Fund | 377 | 15,128 | 25,077 | Growth Strategies, Class K |
Amount | % of Class-Level Average Net Assets | |
Growth Strategies | $4,213 | .16 |
Class K | 81 | .04 |
$4,294 |
% of Average Net Assets | |
Fidelity Growth Strategies Fund | .03 |
Amount | |
Fidelity Growth Strategies Fund | $37 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Strategies Fund | Borrower | $55,760 | 2.57% | $4 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies Fund | 81,873 | 76,264 | (10,693) |
Amount | |
Fidelity Growth Strategies Fund | $5 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Strategies Fund | $5 | $- A | $- |
Year ended November 30, 2022 | Year ended November 30, 2021 | |
Fidelity Growth Strategies Fund | ||
Distributions to shareholders | ||
Growth Strategies | $426,994 | $236,172 |
Class K | 31,310 | 18,817 |
Total | $458,304 | $254,989 |
Shares | Shares | Dollars | Dollars | |
Year ended November 30, 2022 | Year ended November 30, 2021 | Year ended November 30, 2022 | Year ended November 30, 2021 | |
Fidelity Growth Strategies Fund | ||||
Growth Strategies | ||||
Shares sold | 9,491 | 3,959 | $484,754 | $259,220 |
Reinvestment of distributions | 6,391 | 3,814 | 406,035 | 225,526 |
Shares redeemed | (7,802) | (9,146) | (404,797) | (581,726) |
Net increase (decrease) | 8,080 | (1,373) | $485,992 | $(96,980) |
Class K | ||||
Shares sold | 808 | 525 | $40,950 | $34,729 |
Reinvestment of distributions | 487 | 315 | 31,310 | 18,817 |
Shares redeemed | (876) | (1,145) | (44,729) | (72,236) |
Net increase (decrease) | 419 | (305) | $27,531 | $(18,690) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® Growth Strategies Fund | ||||||||||
Fidelity® Growth Strategies Fund | .82% | |||||||||
Actual | $ 1,000 | $ 1,051.40 | $ 4.22 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.96 | $ 4.15 | |||||||
Class K | .70% | |||||||||
Actual | $ 1,000 | $ 1,052.10 | $ 3.60 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.56 | $ 3.55 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity® Growth Strategies K6 Fund | -19.67% | 9.84% | 10.67% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Strategies K6 Fund, on May 25, 2017, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell Midcap® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Cadence Design Systems, Inc. | 3.3 | |
AutoZone, Inc. | 3.2 | |
Mettler-Toledo International, Inc. | 2.9 | |
onsemi | 2.9 | |
ResMed, Inc. | 2.5 | |
MSCI, Inc. | 2.4 | |
Fortinet, Inc. | 2.4 | |
Synopsys, Inc. | 2.4 | |
DexCom, Inc. | 2.2 | |
Old Dominion Freight Lines, Inc. | 2.2 | |
26.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.8 | |
Industrials | 18.0 | |
Health Care | 17.0 | |
Consumer Discretionary | 12.2 | |
Financials | 7.8 | |
Energy | 4.5 | |
Materials | 3.0 | |
Communication Services | 2.6 | |
Consumer Staples | 2.1 | |
Real Estate | 0.8 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 0.8% |
Common Stocks - 96.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.6% | |||
Interactive Media & Services - 0.9% | |||
Pinterest, Inc. Class A (a) | 49,700 | 1,263,374 | |
Media - 1.7% | |||
The Trade Desk, Inc. (a) | 42,413 | 2,211,414 | |
TOTAL COMMUNICATION SERVICES | 3,474,788 | ||
CONSUMER DISCRETIONARY - 12.2% | |||
Distributors - 1.9% | |||
Genuine Parts Co. | 6,300 | 1,154,979 | |
Pool Corp. | 4,200 | 1,383,522 | |
2,538,501 | |||
Hotels, Restaurants & Leisure - 3.6% | |||
Chipotle Mexican Grill, Inc. (a) | 810 | 1,317,838 | |
Choice Hotels International, Inc. | 6,090 | 750,410 | |
Churchill Downs, Inc. | 5,100 | 1,131,996 | |
Domino's Pizza, Inc. | 3,800 | 1,477,174 | |
4,677,418 | |||
Household Durables - 0.2% | |||
NVR, Inc. (a) | 61 | 282,980 | |
Internet & Direct Marketing Retail - 0.2% | |||
eBay, Inc. | 4,900 | 222,656 | |
Multiline Retail - 0.6% | |||
Dollar General Corp. | 2,800 | 715,904 | |
Specialty Retail - 5.6% | |||
AutoZone, Inc. (a) | 1,620 | 4,177,980 | |
O'Reilly Automotive, Inc. (a) | 3,000 | 2,593,620 | |
Tractor Supply Co. | 2,836 | 641,815 | |
7,413,415 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 303 | 120,861 | |
TOTAL CONSUMER DISCRETIONARY | 15,971,735 | ||
CONSUMER STAPLES - 2.1% | |||
Beverages - 0.6% | |||
Brown-Forman Corp. Class B (non-vtg.) | 10,322 | 753,712 | |
Food Products - 1.3% | |||
Bunge Ltd. | 7,000 | 733,880 | |
Darling Ingredients, Inc. (a) | 14,692 | 1,055,326 | |
1,789,206 | |||
Personal Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 933 | 219,992 | |
TOTAL CONSUMER STAPLES | 2,762,910 | ||
ENERGY - 4.5% | |||
Oil, Gas & Consumable Fuels - 4.5% | |||
Hess Corp. | 10,000 | 1,439,100 | |
HF Sinclair Corp. | 13,800 | 860,292 | |
Occidental Petroleum Corp. | 9,400 | 653,206 | |
Ovintiv, Inc. | 18,696 | 1,042,489 | |
PDC Energy, Inc. | 25,900 | 1,924,888 | |
5,919,975 | |||
FINANCIALS - 7.8% | |||
Capital Markets - 6.8% | |||
Ameriprise Financial, Inc. | 3,000 | 995,850 | |
LPL Financial | 5,524 | 1,307,586 | |
MarketAxess Holdings, Inc. | 2,800 | 750,176 | |
Moody's Corp. | 700 | 208,789 | |
MSCI, Inc. | 6,300 | 3,199,329 | |
Raymond James Financial, Inc. | 12,600 | 1,472,940 | |
S&P Global, Inc. | 200 | 70,560 | |
T. Rowe Price Group, Inc. | 6,300 | 786,933 | |
Tradeweb Markets, Inc. Class A | 1,759 | 108,108 | |
8,900,271 | |||
Insurance - 1.0% | |||
Arthur J. Gallagher & Co. | 6,700 | 1,334,037 | |
TOTAL FINANCIALS | 10,234,308 | ||
HEALTH CARE - 17.0% | |||
Health Care Equipment & Supplies - 5.3% | |||
DexCom, Inc. (a) | 25,600 | 2,976,768 | |
Edwards Lifesciences Corp. (a) | 3,648 | 281,808 | |
IDEXX Laboratories, Inc. (a) | 700 | 298,109 | |
Intuitive Surgical, Inc. (a) | 810 | 219,016 | |
ResMed, Inc. | 14,200 | 3,268,840 | |
7,044,541 | |||
Health Care Providers & Services - 3.6% | |||
Laboratory Corp. of America Holdings | 2,300 | 553,610 | |
McKesson Corp. | 3,929 | 1,499,621 | |
Molina Healthcare, Inc. (a) | 7,900 | 2,660,483 | |
4,713,714 | |||
Health Care Technology - 1.8% | |||
Doximity, Inc. (a)(b) | 36,000 | 1,223,640 | |
Veeva Systems, Inc. Class A (a) | 5,900 | 1,123,124 | |
2,346,764 | |||
Life Sciences Tools & Services - 6.3% | |||
Agilent Technologies, Inc. | 5,700 | 883,386 | |
Charles River Laboratories International, Inc. (a) | 9,700 | 2,217,129 | |
Mettler-Toledo International, Inc. (a) | 2,600 | 3,820,856 | |
West Pharmaceutical Services, Inc. | 5,800 | 1,361,028 | |
8,282,399 | |||
TOTAL HEALTH CARE | 22,387,418 | ||
INDUSTRIALS - 18.0% | |||
Aerospace & Defense - 0.9% | |||
TransDigm Group, Inc. | 1,877 | 1,179,695 | |
Building Products - 2.6% | |||
Builders FirstSource, Inc. (a) | 11,700 | 747,981 | |
Carlisle Companies, Inc. | 4,700 | 1,236,617 | |
Carrier Global Corp. | 32,819 | 1,454,538 | |
3,439,136 | |||
Commercial Services & Supplies - 4.8% | |||
Cintas Corp. | 5,400 | 2,493,612 | |
Copart, Inc. (a) | 37,588 | 2,501,857 | |
Republic Services, Inc. | 5,900 | 821,811 | |
Tetra Tech, Inc. | 1,400 | 216,426 | |
Waste Management, Inc. | 1,500 | 251,580 | |
6,285,286 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 9,700 | 1,453,836 | |
Electrical Equipment - 1.7% | |||
AMETEK, Inc. | 8,400 | 1,196,328 | |
Atkore, Inc. (a) | 8,400 | 1,026,060 | |
2,222,388 | |||
Machinery - 3.0% | |||
Cummins, Inc. | 3,343 | 839,628 | |
IDEX Corp. | 4,200 | 997,458 | |
Otis Worldwide Corp. | 9,500 | 741,855 | |
Toro Co. | 11,753 | 1,304,465 | |
3,883,406 | |||
Professional Services - 0.7% | |||
Booz Allen Hamilton Holding Corp. Class A | 3,948 | 420,067 | |
CoStar Group, Inc. (a) | 6,699 | 542,887 | |
962,954 | |||
Road & Rail - 2.2% | |||
Old Dominion Freight Lines, Inc. | 9,286 | 2,810,036 | |
Trading Companies & Distributors - 1.0% | |||
W.W. Grainger, Inc. | 2,228 | 1,343,618 | |
TOTAL INDUSTRIALS | 23,580,355 | ||
INFORMATION TECHNOLOGY - 28.8% | |||
Electronic Equipment & Components - 2.7% | |||
Amphenol Corp. Class A | 22,790 | 1,833,000 | |
Keysight Technologies, Inc. (a) | 9,800 | 1,772,722 | |
3,605,722 | |||
IT Services - 3.9% | |||
Adyen BV (a)(c) | 8 | 12,603 | |
EPAM Systems, Inc. (a) | 7,200 | 2,653,776 | |
Paychex, Inc. | 16,500 | 2,046,495 | |
SS&C Technologies Holdings, Inc. | 7,100 | 381,696 | |
5,094,570 | |||
Semiconductors & Semiconductor Equipment - 8.4% | |||
Broadcom, Inc. | 500 | 275,515 | |
Enphase Energy, Inc. (a) | 6,479 | 2,077,103 | |
Entegris, Inc. | 22,000 | 1,700,380 | |
KLA Corp. | 1,200 | 471,780 | |
Lam Research Corp. | 500 | 236,190 | |
Lattice Semiconductor Corp. (a) | 14,900 | 1,085,167 | |
Monolithic Power Systems, Inc. | 2,500 | 954,900 | |
NXP Semiconductors NV | 2,400 | 422,016 | |
onsemi (a) | 50,700 | 3,812,640 | |
11,035,691 | |||
Software - 13.8% | |||
Atlassian Corp. PLC (a) | 1,722 | 226,529 | |
Cadence Design Systems, Inc. (a) | 25,534 | 4,392,868 | |
Coupa Software, Inc. (a) | 15,800 | 999,192 | |
Datadog, Inc. Class A (a) | 23,400 | 1,773,252 | |
Dynatrace, Inc. (a) | 11,900 | 461,125 | |
Fortinet, Inc. (a) | 59,900 | 3,184,284 | |
HubSpot, Inc. (a) | 2,000 | 606,060 | |
Intuit, Inc. | 795 | 324,034 | |
NortonLifeLock, Inc. | 28,336 | 650,595 | |
Paycom Software, Inc. (a) | 4,000 | 1,356,400 | |
Roper Technologies, Inc. | 811 | 355,940 | |
Synopsys, Inc. (a) | 9,200 | 3,123,768 | |
Zoom Video Communications, Inc. Class A (a) | 8,022 | 605,099 | |
18,059,146 | |||
TOTAL INFORMATION TECHNOLOGY | 37,795,129 | ||
MATERIALS - 3.0% | |||
Chemicals - 1.5% | |||
CF Industries Holdings, Inc. | 15,900 | 1,720,221 | |
Sherwin-Williams Co. | 1,136 | 283,068 | |
2,003,289 | |||
Metals & Mining - 1.5% | |||
Steel Dynamics, Inc. | 19,100 | 1,985,063 | |
TOTAL MATERIALS | 3,988,352 | ||
REAL ESTATE - 0.8% | |||
Equity Real Estate Investment Trusts (REITs) - 0.8% | |||
SBA Communications Corp. Class A | 829 | 248,120 | |
VICI Properties, Inc. | 22,600 | 772,920 | |
1,021,040 | |||
TOTAL COMMON STOCKS (Cost $79,978,479) | 127,136,010 | ||
Money Market Funds - 3.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 3.86% (d) | 2,816,429 | 2,816,993 | |
Fidelity Securities Lending Cash Central Fund 3.86% (d)(e) | 1,108,689 | 1,108,800 | |
TOTAL MONEY MARKET FUNDS (Cost $3,925,793) | 3,925,793 | ||
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $83,904,272) | 131,061,803 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 267,667 |
NET ASSETS - 100.0% | 131,329,470 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $12,603 or 0.0% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 3.86% | 2,812,135 | 68,695,942 | 68,691,084 | 43,144 | - | - | 2,816,993 | 0.0% |
Fidelity Securities Lending Cash Central Fund 3.86% | - | 14,696,991 | 13,588,191 | 1,360 | - | - | 1,108,800 | 0.0% |
Total | 2,812,135 | 83,392,933 | 82,279,275 | 44,504 | - | - | 3,925,793 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 3,474,788 | 3,474,788 | - | - |
Consumer Discretionary | 15,971,735 | 15,971,735 | - | - |
Consumer Staples | 2,762,910 | 2,762,910 | - | - |
Energy | 5,919,975 | 5,919,975 | - | - |
Financials | 10,234,308 | 10,234,308 | - | - |
Health Care | 22,387,418 | 22,387,418 | - | - |
Industrials | 23,580,355 | 23,580,355 | - | - |
Information Technology | 37,795,129 | 37,782,526 | 12,603 | - |
Materials | 3,988,352 | 3,988,352 | - | - |
Real Estate | 1,021,040 | 1,021,040 | - | - |
Money Market Funds | 3,925,793 | 3,925,793 | - | - |
Total Investments in Securities: | 131,061,803 | 131,049,200 | 12,603 | - |
Statement of Assets and Liabilities | ||||
November 30, 2022 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $1,142,064) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $79,978,479) | $127,136,010 | |||
Fidelity Central Funds (cost $3,925,793) | 3,925,793 | |||
Total Investment in Securities (cost $83,904,272) | $ | 131,061,803 | ||
Receivable for investments sold | 2,713,912 | |||
Receivable for fund shares sold | 271,626 | |||
Dividends receivable | 52,503 | |||
Distributions receivable from Fidelity Central Funds | 8,172 | |||
Total assets | 134,108,016 | |||
Liabilities | ||||
Payable for investments purchased | $1,616,870 | |||
Payable for fund shares redeemed | 5,516 | |||
Accrued management fee | 47,360 | |||
Collateral on securities loaned | 1,108,800 | |||
Total Liabilities | 2,778,546 | |||
Net Assets | $ | 131,329,470 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 93,854,106 | ||
Total accumulated earnings (loss) | 37,475,364 | |||
Net Assets | $ | 131,329,470 | ||
Net Asset Value , offering price and redemption price per share ($131,329,470 ÷ 9,858,476 shares) | $ | 13.32 | ||
Statement of Operations | ||||
Year ended November 30, 2022 | ||||
Investment Income | ||||
Dividends | $ | 862,675 | ||
Income from Fidelity Central Funds (including $1,360 from security lending) | 44,504 | |||
Total Income | 907,179 | |||
Expenses | ||||
Management fee | $ | 611,955 | ||
Independent trustees' fees and expenses | 482 | |||
Total expenses before reductions | 612,437 | |||
Expense reductions | (25) | |||
Total expenses after reductions | 612,412 | |||
Net Investment income (loss) | 294,767 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (9,951,931) | |||
Foreign currency transactions | 316 | |||
Total net realized gain (loss) | (9,951,615) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (23,147,758) | |||
Assets and liabilities in foreign currencies | (78) | |||
Total change in net unrealized appreciation (depreciation) | (23,147,836) | |||
Net gain (loss) | (33,099,451) | |||
Net increase (decrease) in net assets resulting from operations | $ | (32,804,684) |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2022 | Year ended November 30, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 294,767 | $ | (84,269) |
Net realized gain (loss) | (9,951,615) | 34,883,614 | ||
Change in net unrealized appreciation (depreciation) | (23,147,836) | 1,007,412 | ||
Net increase (decrease) in net assets resulting from operations | (32,804,684) | 35,806,757 | ||
Distributions to shareholders | (34,673,946) | (4,603,993) | ||
Share transactions | ||||
Proceeds from sales of shares | 35,472,984 | 23,657,289 | ||
Reinvestment of distributions | 34,673,946 | 4,603,993 | ||
Cost of shares redeemed | (28,706,740) | (84,288,088) | ||
Net increase (decrease) in net assets resulting from share transactions | 41,440,190 | (56,026,806) | ||
Total increase (decrease) in net assets | (26,038,440) | (24,824,042) | ||
Net Assets | ||||
Beginning of period | 157,367,910 | 182,191,952 | ||
End of period | $ | 131,329,470 | $ | 157,367,910 |
Other Information | ||||
Shares | ||||
Sold | 2,415,188 | 1,254,833 | ||
Issued in reinvestment of distributions | 2,051,713 | 265,973 | ||
Redeemed | (2,139,490) | (4,670,567) | ||
Net increase (decrease) | 2,327,411 | (3,149,761) | ||
Fidelity® Growth Strategies K6 Fund |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 | 2018 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 20.90 | $ | 17.06 | $ | 13.69 | $ | 11.21 | $ | 10.95 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .03 | (.01) | .04 C | .06 D | .09 E | |||||
Net realized and unrealized gain (loss) | (3.21) | 4.29 | 3.40 | 2.51 | .20 | |||||
Total from investment operations | (3.18) | 4.28 | 3.44 | 2.57 | .29 | |||||
Distributions from net investment income | - | (.02) | (.07) | (.09) | (.03) | |||||
Distributions from net realized gain | (4.40) | (.42) | - | - | - | |||||
Total distributions | (4.40) | (.44) | (.07) | (.09) | (.03) | |||||
Net asset value, end of period | $ | 13.32 | $ | 20.90 | $ | 17.06 | $ | 13.69 | $ | 11.21 |
Total Return F | (19.67)% | 25.64% | 25.24% | 23.18% | 2.68% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .45% | .45% | .45% | .45% | .45% | |||||
Expenses net of fee waivers, if any | .45% | .45% | .45% | .45% | .45% | |||||
Expenses net of all reductions | .45% | .45% | .45% | .45% | .45% | |||||
Net investment income (loss) | .22% | (.06)% | .25% C | .49% D | .76% E | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 131,329 | $ | 157,368 | $ | 182,192 | $ | 165,691 | $ | 132,993 |
Portfolio turnover rate I | 78% J | 51% | 73% | 66% J | 51% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $47,510,472 |
Gross unrealized depreciation | (383,380) |
Net unrealized appreciation (depreciation) | $47,127,092 |
Tax Cost | $83,934,711 |
Undistributed ordinary income | $275,577 |
Capital loss carryforward | $(9,927,305) |
Net unrealized appreciation (depreciation) on securities and other investments | $47,127,092 |
Short-term | $(9,927,305) |
Total capital loss carryforward | $(9,927,305) |
November 30, 2022 | November 30, 2021 | |
Ordinary Income | $2,733,892 | $208,326 |
Long-term Capital Gains | 31,940,054 | 4,395,667 |
Total | $34,673,946 | $4,603,993 |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies K6 Fund | 105,253,349 | 104,103,407 |
Shares | Total Proceeds ($) | |
Fidelity Growth Strategies K6 Fund | 324,690 | 4,286,560 |
Amount | |
Fidelity Growth Strategies K6 Fund | $1,546 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies K6 Fund | 3,919,073 | 3,163,746 | (612,278) |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Strategies K6 Fund | $143 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® Growth Strategies K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,053.80 | $ 2.32 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.81 | $ 2.28 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2022 | Past 1 year | Life of Fund A |
Fidelity® Growth Company K6 Fund | -28.85% | 17.39% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Company K6 Fund, on June 13, 2019, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Apple, Inc. | 8.2 | |
NVIDIA Corp. | 6.7 | |
Microsoft Corp. | 5.1 | |
lululemon athletica, Inc. | 4.6 | |
Amazon.com, Inc. | 4.4 | |
Alphabet, Inc. Class A | 3.4 | |
Tesla, Inc. | 1.7 | |
Salesforce.com, Inc. | 1.7 | |
Alphabet, Inc. Class C | 1.4 | |
Hess Corp. | 1.3 | |
38.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 35.9 | |
Consumer Discretionary | 20.6 | |
Health Care | 17.5 | |
Communication Services | 6.8 | |
Industrials | 5.5 | |
Consumer Staples | 4.9 | |
Energy | 4.2 | |
Materials | 2.0 | |
Financials | 1.7 | |
Real Estate | 0.5 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Foreign investments - 5.7% |
Common Stocks - 98.1% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.7% | |||
Diversified Telecommunication Services - 0.0% | |||
Starry Group Holdings, Inc. Class A (a) | 249,917 | 46,984 | |
Verizon Communications, Inc. | 8,790 | 342,634 | |
389,618 | |||
Entertainment - 0.9% | |||
Netflix, Inc. (a) | 278,881 | 85,206,512 | |
Roblox Corp. (a) | 116,315 | 3,695,328 | |
Roku, Inc. Class A (a) | 123,611 | 7,338,785 | |
The Walt Disney Co. (a) | 56,714 | 5,550,599 | |
101,791,224 | |||
Interactive Media & Services - 5.1% | |||
Alphabet, Inc.: | |||
Class A (a) | 3,921,436 | 396,025,822 | |
Class C (a) | 1,595,628 | 161,876,461 | |
Epic Games, Inc. (a)(b)(c) | 5,000 | 4,234,250 | |
Meta Platforms, Inc. Class A (a) | 136,554 | 16,127,027 | |
Snap, Inc. Class A (a) | 630,598 | 6,501,465 | |
Zoominfo Technologies, Inc. (a) | 70,257 | 2,009,350 | |
586,774,375 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 28,302 | 1,036,985 | |
The Trade Desk, Inc. (a) | 25,159 | 1,311,790 | |
2,348,775 | |||
Wireless Telecommunication Services - 0.7% | |||
T-Mobile U.S., Inc. (a) | 534,865 | 81,010,653 | |
TOTAL COMMUNICATION SERVICES | 772,314,645 | ||
CONSUMER DISCRETIONARY - 20.4% | |||
Auto Components - 0.0% | |||
Mobileye Global, Inc. | 100,345 | 2,860,836 | |
Automobiles - 2.2% | |||
Rad Power Bikes, Inc. (a)(b)(c) | 171,416 | 747,374 | |
Rivian Automotive, Inc. (d) | 1,939,052 | 62,127,226 | |
Tesla, Inc. (a) | 1,021,817 | 198,947,770 | |
261,822,370 | |||
Hotels, Restaurants & Leisure - 1.7% | |||
Airbnb, Inc. Class A (a) | 159,691 | 16,310,839 | |
Booking Holdings, Inc. (a) | 30,300 | 63,007,335 | |
Chipotle Mexican Grill, Inc. (a) | 12,260 | 19,946,530 | |
Dutch Bros, Inc. (a)(d) | 53,008 | 2,000,522 | |
Expedia, Inc. (a) | 99,583 | 10,639,448 | |
Marriott International, Inc. Class A | 121,310 | 20,058,609 | |
McDonald's Corp. | 872 | 237,873 | |
Penn Entertainment, Inc. (a) | 728,829 | 25,647,493 | |
Shake Shack, Inc. Class A (a) | 18,774 | 987,512 | |
Sonder Holdings, Inc. (a)(d) | 925,788 | 1,638,645 | |
Sonder Holdings, Inc.: | |||
rights (a)(c) | 5,104 | 3,624 | |
rights (a)(c) | 5,104 | 3,062 | |
rights (a)(c) | 5,104 | 2,654 | |
rights (a)(c) | 5,104 | 2,297 | |
rights (a)(c) | 5,103 | 1,990 | |
rights (a)(c) | 5,102 | 1,786 | |
Starbucks Corp. | 170,141 | 17,388,410 | |
Sweetgreen, Inc. Class A | 413,415 | 5,924,237 | |
Yum China Holdings, Inc. | 175,509 | 9,674,056 | |
193,476,922 | |||
Household Durables - 0.4% | |||
Lennar Corp. Class A | 456,352 | 40,081,396 | |
PulteGroup, Inc. | 194 | 8,687 | |
Purple Innovation, Inc. (a)(d) | 1,189,832 | 6,008,652 | |
46,098,735 | |||
Internet & Direct Marketing Retail - 5.5% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 72,280 | 6,328,837 | |
Amazon.com, Inc. (a) | 5,317,419 | 513,343,630 | |
Etsy, Inc. (a) | 31,386 | 4,145,777 | |
JD.com, Inc. sponsored ADR | 47,225 | 2,700,326 | |
Lyft, Inc. (a) | 737,728 | 8,277,308 | |
Ozon Holdings PLC ADR (a)(c)(d) | 6,684 | 14,041 | |
Pinduoduo, Inc. ADR (a) | 44,876 | 3,681,627 | |
Revolve Group, Inc. (a)(d) | 563,441 | 14,886,111 | |
RumbleON, Inc. Class B (a)(d) | 192,658 | 1,469,981 | |
Uber Technologies, Inc. (a) | 1,560,594 | 45,475,709 | |
Wayfair LLC Class A (a)(d) | 990,503 | 36,292,030 | |
Zomato Ltd. (a) | 4,462,200 | 3,637,078 | |
640,252,455 | |||
Multiline Retail - 0.8% | |||
Dollar General Corp. | 118,662 | 30,339,500 | |
Dollar Tree, Inc. (a) | 89,751 | 13,488,678 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 550,631 | 33,533,428 | |
Target Corp. | 72,420 | 12,099,209 | |
89,460,815 | |||
Specialty Retail - 3.0% | |||
Fanatics, Inc. Class A (a)(b)(c) | 204,775 | 15,597,712 | |
Five Below, Inc. (a) | 76,796 | 12,353,405 | |
Floor & Decor Holdings, Inc. Class A (a) | 91,805 | 6,851,407 | |
Lowe's Companies, Inc. | 410,848 | 87,325,742 | |
RH (a) | 31,453 | 9,021,664 | |
Ross Stores, Inc. | 122,789 | 14,448,582 | |
The Home Depot, Inc. | 300,757 | 97,442,260 | |
TJX Companies, Inc. | 1,266,754 | 101,403,658 | |
344,444,430 | |||
Textiles, Apparel & Luxury Goods - 6.8% | |||
Canada Goose Holdings, Inc. (a) | 272,456 | 5,104,183 | |
Crocs, Inc. (a) | 205,272 | 20,732,472 | |
Deckers Outdoor Corp. (a) | 187,817 | 74,916,445 | |
Li Ning Co. Ltd. | 259,263 | 2,083,566 | |
lululemon athletica, Inc. (a) | 1,403,731 | 533,852,937 | |
NIKE, Inc. Class B | 367,399 | 40,299,996 | |
On Holding AG (a)(d) | 1,466,248 | 28,474,536 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,993,793 | 84,078,251 | |
789,542,386 | |||
TOTAL CONSUMER DISCRETIONARY | 2,367,958,949 | ||
CONSUMER STAPLES - 4.8% | |||
Beverages - 1.9% | |||
Celsius Holdings, Inc. (a) | 88,463 | 9,849,470 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 64,213 | 16,525,216 | |
Keurig Dr. Pepper, Inc. | 753,188 | 29,125,780 | |
Monster Beverage Corp. (a) | 415,320 | 42,719,815 | |
PepsiCo, Inc. | 232,157 | 43,067,445 | |
The Coca-Cola Co. | 1,379,315 | 87,738,227 | |
229,025,953 | |||
Food & Staples Retailing - 0.9% | |||
Costco Wholesale Corp. | 134,455 | 72,504,859 | |
Kroger Co. | 216,241 | 10,636,895 | |
Performance Food Group Co. (a) | 149,737 | 9,130,962 | |
Sysco Corp. | 155,283 | 13,433,532 | |
Walmart, Inc. | 27,920 | 4,255,566 | |
109,961,814 | |||
Food Products - 0.8% | |||
Archer Daniels Midland Co. | 137,168 | 13,373,880 | |
Bunge Ltd. | 264,501 | 27,730,285 | |
Darling Ingredients, Inc. (a) | 205,092 | 14,731,758 | |
Kellogg Co. | 128,878 | 9,401,650 | |
Mondelez International, Inc. | 100,230 | 6,776,550 | |
The Hershey Co. | 72,402 | 17,026,778 | |
The Real Good Food Co. LLC: | |||
Class B (c) | 149,688 | 2 | |
Class B unit (e) | 149,688 | 1,070,269 | |
The Real Good Food Co., Inc. | 14,644 | 104,705 | |
90,215,877 | |||
Household Products - 0.5% | |||
Church & Dwight Co., Inc. | 60,464 | 4,950,188 | |
Colgate-Palmolive Co. | 135,348 | 10,486,763 | |
Procter & Gamble Co. | 276,431 | 41,232,448 | |
56,669,399 | |||
Personal Products - 0.2% | |||
Olaplex Holdings, Inc. (a)(d) | 1,676,511 | 10,008,771 | |
The Beauty Health Co. (a)(b) | 428,643 | 4,607,912 | |
The Beauty Health Co. (a)(d) | 505,856 | 5,437,952 | |
20,054,635 | |||
Tobacco - 0.5% | |||
Philip Morris International, Inc. | 564,534 | 56,267,104 | |
TOTAL CONSUMER STAPLES | 562,194,782 | ||
ENERGY - 4.2% | |||
Energy Equipment & Services - 0.7% | |||
Baker Hughes Co. Class A | 437,209 | 12,687,805 | |
Halliburton Co. | 965,454 | 36,581,052 | |
Schlumberger Ltd. | 622,133 | 32,070,956 | |
81,339,813 | |||
Oil, Gas & Consumable Fuels - 3.5% | |||
Cameco Corp. | 643,606 | 15,691,114 | |
ConocoPhillips Co. | 59,463 | 7,344,275 | |
Devon Energy Corp. | 280,909 | 19,247,885 | |
EOG Resources, Inc. | 370,972 | 52,652,056 | |
EQT Corp. | 129,598 | 5,496,251 | |
Exxon Mobil Corp. | 74,851 | 8,333,910 | |
Hess Corp. | 1,070,131 | 154,002,552 | |
Occidental Petroleum Corp. | 191,364 | 13,297,884 | |
Phillips 66 Co. | 91,121 | 9,881,161 | |
Pioneer Natural Resources Co. | 147,315 | 34,764,867 | |
Range Resources Corp. | 1,138,433 | 32,866,561 | |
Reliance Industries Ltd. | 890,946 | 29,992,143 | |
Valero Energy Corp. | 182,326 | 24,362,400 | |
407,933,059 | |||
TOTAL ENERGY | 489,272,872 | ||
FINANCIALS - 1.6% | |||
Banks - 0.7% | |||
Bank of America Corp. | 846,738 | 32,049,033 | |
HDFC Bank Ltd. sponsored ADR | 410,835 | 28,992,626 | |
JPMorgan Chase & Co. | 118,692 | 16,400,861 | |
Wells Fargo & Co. | 117,447 | 5,631,584 | |
83,074,104 | |||
Capital Markets - 0.9% | |||
BlackRock, Inc. Class A | 43,204 | 30,934,064 | |
Charles Schwab Corp. | 814,703 | 67,245,586 | |
98,179,650 | |||
Consumer Finance - 0.0% | |||
Discover Financial Services | 30,756 | 3,332,720 | |
TOTAL FINANCIALS | 184,586,474 | ||
HEALTH CARE - 16.9% | |||
Biotechnology - 8.8% | |||
4D Pharma PLC (a)(c)(d) | 1,001,319 | 201,060 | |
AbbVie, Inc. | 134,208 | 21,631,645 | |
Absci Corp. (a)(d) | 1,334,883 | 3,337,208 | |
ACADIA Pharmaceuticals, Inc. (a) | 1,028,978 | 16,031,477 | |
ADC Therapeutics SA (a) | 8,318 | 30,444 | |
Akouos, Inc. (a)(e) | 54,474 | 723,959 | |
Akouos, Inc. (CVR) (c) | 283,782 | 224,188 | |
Alector, Inc. (a) | 510,892 | 4,337,473 | |
Allovir, Inc. (a)(d) | 702,071 | 5,272,553 | |
Alnylam Pharmaceuticals, Inc. (a) | 637,253 | 140,571,639 | |
Ambrx Biopharma, Inc. ADR (a) | 82,799 | 40,567 | |
Amgen, Inc. | 123,849 | 35,470,354 | |
Arcutis Biotherapeutics, Inc. (a) | 192,409 | 3,315,207 | |
Argenx SE ADR (a) | 210,590 | 83,808,502 | |
Arrowhead Pharmaceuticals, Inc. (a) | 47,924 | 1,543,153 | |
Ars Pharmaceuticals, Inc. (a) | 383,115 | 2,382,975 | |
Ascendis Pharma A/S sponsored ADR (a) | 14,943 | 1,838,886 | |
aTyr Pharma, Inc. (a) | 399,658 | 863,261 | |
Avidity Biosciences, Inc. (a)(d) | 378,109 | 4,401,189 | |
Axcella Health, Inc. (a) | 1,000,478 | 840,802 | |
Beam Therapeutics, Inc. (a)(d) | 143,368 | 6,622,168 | |
BeiGene Ltd. ADR (a)(d) | 232,959 | 44,637,274 | |
BioNTech SE ADR (d) | 13,492 | 2,253,434 | |
BioXcel Therapeutics, Inc. (a)(d) | 438,806 | 7,271,015 | |
Caris Life Sciences, Inc. (b)(c) | 362,791 | 2,031,630 | |
Century Therapeutics, Inc. (a) | 672,432 | 7,060,536 | |
Cerevel Therapeutics Holdings (a) | 1,732,112 | 50,161,964 | |
Codiak Biosciences, Inc. (a) | 386,380 | 266,641 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 95,000 | 12,838 | |
CRISPR Therapeutics AG (a)(d) | 204,394 | 11,198,747 | |
Cyclerion Therapeutics, Inc. (a) | 196,490 | 186,666 | |
Day One Biopharmaceuticals, Inc. (a) | 306,918 | 6,515,869 | |
Denali Therapeutics, Inc. (a) | 98,145 | 3,131,807 | |
EQRx, Inc. (a) | 1,893,601 | 7,119,940 | |
EQRx, Inc.: | |||
rights (a)(c) | 65,872 | 215,401 | |
rights (a)(c) | 28,231 | 75,094 | |
Erasca, Inc. (a) | 122,430 | 924,347 | |
Evelo Biosciences, Inc. (a)(d) | 1,416,614 | 2,960,723 | |
Exelixis, Inc. (a) | 27,380 | 467,650 | |
Foghorn Therapeutics, Inc. (a) | 273,546 | 1,846,436 | |
Gemini Therapeutics, Inc. (a)(d) | 51,650 | 88,838 | |
Generation Bio Co. (a) | 562,801 | 2,999,729 | |
Icosavax, Inc. (a) | 1,545 | 5,160 | |
Immunocore Holdings PLC ADR (a) | 34,380 | 2,159,408 | |
Immunovant, Inc. (a) | 158,827 | 2,082,222 | |
Inhibrx, Inc. (a)(d) | 144,349 | 4,327,583 | |
Instil Bio, Inc. (a) | 109,505 | 145,642 | |
Intellia Therapeutics, Inc. (a) | 92,868 | 4,778,987 | |
Invivyd, Inc. (a)(d) | 1,349,287 | 3,049,389 | |
Ionis Pharmaceuticals, Inc. (a) | 2,036,392 | 83,064,430 | |
Janux Therapeutics, Inc. (a) | 142,796 | 1,947,737 | |
Karuna Therapeutics, Inc. (a) | 365,297 | 85,958,037 | |
Kinnate Biopharma, Inc. (a) | 69,661 | 551,715 | |
Legend Biotech Corp. ADR (a) | 464,341 | 23,918,205 | |
Lexicon Pharmaceuticals, Inc. (a) | 444,147 | 950,475 | |
Lyell Immunopharma, Inc. (a)(d) | 320,216 | 1,348,109 | |
Moderna, Inc. (a) | 218,208 | 38,384,969 | |
Monte Rosa Therapeutics, Inc. (a) | 300,979 | 2,552,302 | |
Morphic Holding, Inc. (a) | 281,915 | 7,758,301 | |
Nuvalent, Inc. Class A (a) | 420,032 | 13,810,652 | |
Omega Therapeutics, Inc. (a) | 463,806 | 3,246,642 | |
ORIC Pharmaceuticals, Inc. (a) | 255,722 | 918,042 | |
Poseida Therapeutics, Inc. (a) | 684,520 | 3,121,411 | |
Protagonist Therapeutics, Inc. (a) | 3,588 | 28,381 | |
Prothena Corp. PLC (a) | 210,162 | 13,137,227 | |
PTC Therapeutics, Inc. (a) | 352,702 | 14,633,606 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 590,864 | 5,554,122 | |
Regeneron Pharmaceuticals, Inc. (a) | 83,776 | 62,974,419 | |
Relay Therapeutics, Inc. (a) | 266,851 | 4,958,092 | |
Rigel Pharmaceuticals, Inc. (a) | 50,481 | 33,903 | |
Roivant Sciences Ltd. (a) | 2,097,538 | 11,242,804 | |
Rubius Therapeutics, Inc. (a)(d) | 1,336,281 | 296,654 | |
Sage Therapeutics, Inc. (a) | 599,264 | 24,593,795 | |
Saluda Medical Pty Ltd. warrants (a)(b)(c) | 46,461 | 17,655 | |
Sana Biotechnology, Inc. (a)(d) | 180,676 | 901,573 | |
Scholar Rock Holding Corp. (a) | 424,602 | 3,299,158 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 39,325 | 121,595 | |
Seagen, Inc. (a) | 18,150 | 2,203,229 | |
Seres Therapeutics, Inc. (a) | 1,771,843 | 11,516,980 | |
Shattuck Labs, Inc. (a) | 300,614 | 682,394 | |
Sigilon Therapeutics, Inc. (a) | 109,499 | 45,628 | |
SpringWorks Therapeutics, Inc. (b) | 113,900 | 2,478,692 | |
SpringWorks Therapeutics, Inc. (a)(d) | 767,031 | 18,546,810 | |
Synlogic, Inc. (a) | 627,609 | 375,436 | |
Tango Therapeutics, Inc. (a) | 229,426 | 1,722,989 | |
Taysha Gene Therapies, Inc. (a) | 215,637 | 476,558 | |
TG Therapeutics, Inc. (a) | 464,801 | 4,099,545 | |
Twist Bioscience Corp. (a) | 309,709 | 8,470,541 | |
Tyra Biosciences, Inc. (a) | 44,449 | 311,587 | |
uniQure B.V. (a) | 107,513 | 2,844,794 | |
UNITY Biotechnology, Inc. (a)(d) | 84,500 | 232,375 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 637,325 | 28,978 | |
Vaxcyte, Inc. (a) | 300,889 | 13,858,947 | |
Vera Therapeutics, Inc. (a) | 142,549 | 2,380,568 | |
Vertex Pharmaceuticals, Inc. (a) | 62,318 | 19,717,415 | |
Verve Therapeutics, Inc. (a) | 132,893 | 3,087,104 | |
Vor Biopharma, Inc. (a) | 111,092 | 511,023 | |
Yumanity Therapeutics, Inc. (a) | 201,428 | 360,556 | |
Zai Lab Ltd. ADR (a) | 143,321 | 5,526,458 | |
Zentalis Pharmaceuticals, Inc. (a) | 194,549 | 4,303,424 | |
1,014,569,722 | |||
Health Care Equipment & Supplies - 3.7% | |||
Abbott Laboratories | 10,509 | 1,130,558 | |
Blink Health LLC Series A1 (a)(b)(c) | 65,933 | 2,550,288 | |
DexCom, Inc. (a) | 375,543 | 43,668,140 | |
Figs, Inc. Class A (a) | 119,176 | 933,148 | |
Insulet Corp. (a) | 498,342 | 149,188,645 | |
Intuitive Surgical, Inc. (a) | 206,583 | 55,857,977 | |
Novocure Ltd. (a)(d) | 1,424,396 | 109,450,589 | |
Oddity Tech Ltd. (b)(c) | 3,704 | 1,486,712 | |
Outset Medical, Inc. (a) | 401,348 | 8,460,416 | |
Penumbra, Inc. (a) | 6,414 | 1,343,797 | |
Presbia PLC (a)(c) | 96,997 | 1,455 | |
PROCEPT BioRobotics Corp. (a) | 361,324 | 15,500,800 | |
Shockwave Medical, Inc. (a) | 168,750 | 42,795,000 | |
432,367,525 | |||
Health Care Providers & Services - 1.6% | |||
Alignment Healthcare, Inc. (a) | 365,853 | 4,865,845 | |
AmerisourceBergen Corp. | 37,612 | 6,419,992 | |
Centene Corp. (a) | 136,484 | 11,880,932 | |
Guardant Health, Inc. (a) | 145,114 | 7,595,267 | |
Humana, Inc. | 67,910 | 37,343,709 | |
McKesson Corp. | 32,230 | 12,301,546 | |
Progyny, Inc. (a) | 75,533 | 2,766,774 | |
The Oncology Institute, Inc. (a)(b) | 446,788 | 629,971 | |
UnitedHealth Group, Inc. | 192,660 | 105,531,442 | |
189,335,478 | |||
Health Care Technology - 0.0% | |||
DNA Script (b)(c) | 115 | 88,853 | |
DNA Script (b)(c) | 439 | 339,187 | |
428,040 | |||
Life Sciences Tools & Services - 0.8% | |||
10X Genomics, Inc. (a)(d) | 576,724 | 22,296,150 | |
Akoya Biosciences, Inc. (a)(d) | 16,685 | 216,571 | |
Danaher Corp. | 33,201 | 9,077,485 | |
Olink Holding AB ADR (a) | 419,056 | 9,986,104 | |
Seer, Inc. (a) | 227,442 | 1,469,275 | |
Thermo Fisher Scientific, Inc. | 45,643 | 25,570,121 | |
WuXi AppTec Co. Ltd. (H Shares) (e) | 323,041 | 3,257,347 | |
Wuxi Biologics (Cayman), Inc. (a)(e) | 2,225,156 | 14,583,085 | |
86,456,138 | |||
Pharmaceuticals - 2.0% | |||
Adimab LLC (a)(b)(c)(f) | 196,899 | 7,933,061 | |
Arvinas Holding Co. LLC (a) | 56,385 | 2,314,040 | |
Atea Pharmaceuticals, Inc. (a) | 1,205,396 | 5,653,307 | |
Bristol-Myers Squibb Co. | 127,443 | 10,231,124 | |
DICE Therapeutics, Inc. (a) | 94,555 | 3,291,460 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 31,376 | 384,984 | |
Eli Lilly & Co. | 243,743 | 90,448,152 | |
Fulcrum Therapeutics, Inc. (a) | 431,162 | 2,953,460 | |
GH Research PLC (a) | 346,792 | 3,793,904 | |
Hansoh Pharmaceutical Group Co. Ltd. (e) | 491,298 | 932,675 | |
Harmony Biosciences Holdings, Inc. (a)(d) | 584,344 | 34,926,241 | |
Intra-Cellular Therapies, Inc. (a) | 954,033 | 51,727,669 | |
Nuvation Bio, Inc. (a) | 1,121,002 | 2,141,114 | |
OptiNose, Inc. (a) | 1,594,962 | 2,823,083 | |
OptiNose, Inc. warrants (a) | 203,272 | 131,911 | |
Pharvaris BV (a) | 29,379 | 60,521 | |
Pliant Therapeutics, Inc. (a) | 423,405 | 7,782,184 | |
Sienna Biopharmaceuticals, Inc. (a)(c) | 341,613 | 3 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 127,580 | 1,488,859 | |
Theravance Biopharma, Inc. (a) | 225,263 | 2,423,830 | |
UCB SA | 37,530 | 3,029,292 | |
234,470,874 | |||
TOTAL HEALTH CARE | 1,957,627,777 | ||
INDUSTRIALS - 5.3% | |||
Aerospace & Defense - 0.8% | |||
AeroVironment, Inc. (a) | 31,359 | 2,884,714 | |
Lockheed Martin Corp. | 67,312 | 32,659,109 | |
Raytheon Technologies Corp. | 154,801 | 15,281,955 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 324,714 | 22,729,980 | |
The Boeing Co. (a) | 108,429 | 19,395,780 | |
92,951,538 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. | 486,000 | 2,016,847 | |
United Parcel Service, Inc. Class B | 86,466 | 16,405,194 | |
18,422,041 | |||
Airlines - 0.9% | |||
Delta Air Lines, Inc. (a) | 602,577 | 21,313,148 | |
Ryanair Holdings PLC sponsored ADR (a) | 6,345 | 480,253 | |
Southwest Airlines Co. | 790,074 | 31,531,853 | |
Spirit Airlines, Inc. (a) | 607,418 | 13,187,045 | |
United Airlines Holdings, Inc. (a) | 406,814 | 17,968,974 | |
Wheels Up Experience, Inc. (a)(b) | 961,536 | 1,230,766 | |
Wheels Up Experience, Inc. Class A (a) | 205,364 | 262,866 | |
Wizz Air Holdings PLC (a)(e) | 689,184 | 18,813,945 | |
104,788,850 | |||
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 413,522 | 13,898,474 | |
MasTec, Inc. (a) | 32,644 | 2,965,055 | |
Quanta Services, Inc. | 45,575 | 6,830,781 | |
23,694,310 | |||
Electrical Equipment - 0.4% | |||
Eaton Corp. PLC | 77,929 | 12,737,495 | |
Emerson Electric Co. | 204,737 | 19,607,662 | |
Fluence Energy, Inc. (a)(d) | 2,527 | 43,414 | |
Generac Holdings, Inc. (a) | 97,345 | 10,271,844 | |
NuScale Power Corp. (a)(d) | 146,656 | 1,598,550 | |
44,258,965 | |||
Industrial Conglomerates - 0.1% | |||
Honeywell International, Inc. | 44,215 | 9,707,403 | |
Machinery - 1.0% | |||
Caterpillar, Inc. | 101,793 | 24,064,883 | |
Deere & Co. | 103,018 | 45,430,938 | |
Fortive Corp. | 29,099 | 1,965,637 | |
Illinois Tool Works, Inc. | 56,685 | 12,894,137 | |
Ingersoll Rand, Inc. | 78,711 | 4,248,033 | |
Xylem, Inc. | 229,393 | 25,772,304 | |
114,375,932 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 138,915 | 1,229,398 | |
Road & Rail - 1.8% | |||
Avis Budget Group, Inc. (a) | 586,190 | 131,072,084 | |
Bird Global, Inc. (a)(b) | 156,425 | 36,165 | |
Bird Global, Inc.: | |||
Class A (a) | 54,609 | 12,626 | |
rights (a)(c) | 27,377 | 1,095 | |
rights (a)(c) | 27,377 | 821 | |
rights (a)(c) | 27,377 | 548 | |
CSX Corp. | 55,129 | 1,802,167 | |
Hertz Global Holdings, Inc. (d) | 908,690 | 15,629,468 | |
Union Pacific Corp. | 284,018 | 61,754,034 | |
210,309,008 | |||
TOTAL INDUSTRIALS | 619,737,445 | ||
INFORMATION TECHNOLOGY - 35.7% | |||
Communications Equipment - 0.7% | |||
Arista Networks, Inc. (a) | 105,179 | 14,651,435 | |
Ciena Corp. (a)(d) | 883,847 | 39,737,761 | |
Infinera Corp. (a)(d) | 3,692,704 | 24,925,752 | |
79,314,948 | |||
Electronic Equipment & Components - 0.0% | |||
Coherent Corp. (a) | 118,407 | 4,341,985 | |
TE Connectivity Ltd. | 3,358 | 423,511 | |
4,765,496 | |||
IT Services - 4.2% | |||
Accenture PLC Class A | 127,310 | 38,311,398 | |
Block, Inc. Class A (a) | 37,992 | 2,574,718 | |
Cloudflare, Inc. (a)(d) | 1,215,180 | 59,713,945 | |
IBM Corp. | 128,699 | 19,163,281 | |
MasterCard, Inc. Class A | 383,691 | 136,747,472 | |
MongoDB, Inc. Class A (a) | 8,549 | 1,305,347 | |
Okta, Inc. (a) | 112,354 | 5,990,715 | |
PayPal Holdings, Inc. (a) | 157,350 | 12,337,814 | |
Shopify, Inc. Class A (a) | 447,898 | 18,400,062 | |
Snowflake, Inc. (a) | 95,273 | 13,614,512 | |
Toast, Inc. (a)(d) | 1,377,542 | 25,291,671 | |
Visa, Inc. Class A | 708,505 | 153,745,585 | |
X Holdings I, Inc. (b)(c) | 2,689 | 1,179,853 | |
488,376,373 | |||
Semiconductors & Semiconductor Equipment - 11.1% | |||
Advanced Micro Devices, Inc. (a) | 760,664 | 59,050,346 | |
Applied Materials, Inc. | 443,872 | 48,648,371 | |
ASML Holding NV | 19,282 | 11,725,770 | |
Broadcom, Inc. | 43,003 | 23,695,943 | |
Cirrus Logic, Inc. (a) | 414,043 | 30,933,153 | |
Enphase Energy, Inc. (a) | 74,974 | 24,035,915 | |
First Solar, Inc. (a) | 242,753 | 41,882,175 | |
GlobalFoundries, Inc. (a) | 106,498 | 6,853,146 | |
KLA Corp. | 62,595 | 24,609,224 | |
Lam Research Corp. | 17,471 | 8,252,951 | |
Lattice Semiconductor Corp. (a) | 4,800 | 349,584 | |
Marvell Technology, Inc. | 769,144 | 35,780,579 | |
Micron Technology, Inc. | 53,173 | 3,065,423 | |
Monolithic Power Systems, Inc. | 28,671 | 10,951,175 | |
NVIDIA Corp. | 4,584,638 | 775,858,289 | |
onsemi (a) | 164,406 | 12,363,331 | |
Qualcomm, Inc. | 162,594 | 20,566,515 | |
Silicon Laboratories, Inc. (a) | 524,192 | 76,238,484 | |
SiTime Corp. (a) | 157,110 | 16,568,821 | |
SolarEdge Technologies, Inc. (a) | 9,337 | 2,790,456 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 60,665 | 5,033,982 | |
Teradyne, Inc. | 82,273 | 7,688,412 | |
Texas Instruments, Inc. | 157,190 | 28,366,507 | |
Wolfspeed, Inc. (a)(d) | 129,048 | 11,733,044 | |
1,287,041,596 | |||
Software - 10.6% | |||
Adobe, Inc. (a) | 182,540 | 62,963,522 | |
Atlassian Corp. PLC (a) | 11,244 | 1,479,148 | |
Autodesk, Inc. (a) | 129,368 | 26,125,868 | |
Bill.Com Holdings, Inc. (a) | 1,890 | 227,594 | |
Clear Secure, Inc. (d) | 609 | 18,928 | |
Coupa Software, Inc. (a) | 18,597 | 1,176,074 | |
Crowdstrike Holdings, Inc. (a) | 102,050 | 12,006,183 | |
Datadog, Inc. Class A (a) | 50,394 | 3,818,857 | |
Elastic NV (a) | 45,618 | 2,791,365 | |
ForgeRock, Inc. (a)(d) | 464 | 10,092 | |
HubSpot, Inc. (a) | 52,337 | 15,859,681 | |
Intuit, Inc. | 74,939 | 30,544,387 | |
Microsoft Corp. | 2,338,323 | 596,599,730 | |
Nutanix, Inc. Class A (a) | 3,518,834 | 99,442,249 | |
Oracle Corp. | 1,107,132 | 91,925,170 | |
Paycom Software, Inc. (a) | 17,626 | 5,976,977 | |
Paylocity Holding Corp. (a) | 25,384 | 5,529,397 | |
RingCentral, Inc. (a) | 52,482 | 1,944,983 | |
Riskified Ltd. (a) | 18,693 | 96,456 | |
Salesforce.com, Inc. (a) | 1,234,791 | 197,875,258 | |
Samsara, Inc. (d) | 69,144 | 658,942 | |
SentinelOne, Inc. (a) | 77,127 | 1,118,342 | |
ServiceNow, Inc. (a) | 60,070 | 25,007,141 | |
Stripe, Inc. Class B (a)(b)(c) | 38,500 | 977,130 | |
UiPath, Inc. Class A (a)(d) | 1,298,300 | 16,189,801 | |
Workday, Inc. Class A (a) | 34,706 | 5,827,137 | |
Zoom Video Communications, Inc. Class A (a) | 171,284 | 12,919,952 | |
Zscaler, Inc. (a) | 81,291 | 10,848,284 | |
1,229,958,648 | |||
Technology Hardware, Storage & Peripherals - 9.1% | |||
Apple, Inc. | 6,443,276 | 953,798,148 | |
Pure Storage, Inc. Class A (a) | 3,430,678 | 100,141,491 | |
Samsung Electronics Co. Ltd. | 102,855 | 4,997,091 | |
1,058,936,730 | |||
TOTAL INFORMATION TECHNOLOGY | 4,148,393,791 | ||
MATERIALS - 1.9% | |||
Chemicals - 1.1% | |||
Albemarle Corp. | 43,429 | 12,072,828 | |
CF Industries Holdings, Inc. | 364,256 | 39,408,857 | |
Cibus Corp. Series E (a)(b)(c)(f) | 2,065,675 | 4,028,066 | |
Corteva, Inc. | 567,545 | 38,116,322 | |
DuPont de Nemours, Inc. | 221,893 | 15,645,675 | |
The Mosaic Co. | 315,096 | 16,164,425 | |
125,436,173 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 76,147 | 4,053,305 | |
Metals & Mining - 0.8% | |||
Barrick Gold Corp. (Canada) (d) | 266,646 | 4,351,098 | |
Freeport-McMoRan, Inc. | 1,888,046 | 75,144,231 | |
Rio Tinto PLC sponsored ADR (d) | 223,093 | 15,313,104 | |
94,808,433 | |||
TOTAL MATERIALS | 224,297,911 | ||
REAL ESTATE - 0.5% | |||
Equity Real Estate Investment Trusts (REITs) - 0.3% | |||
American Tower Corp. | 88,585 | 19,599,431 | |
Equinix, Inc. | 7,419 | 5,123,932 | |
Simon Property Group, Inc. | 101,422 | 12,113,844 | |
36,837,207 | |||
Real Estate Management & Development - 0.2% | |||
CBRE Group, Inc. (a) | 143,540 | 11,425,784 | |
WeWork, Inc. (a) | 1,726,264 | 4,764,489 | |
16,190,273 | |||
TOTAL REAL ESTATE | 53,027,480 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (e) | 117,939 | 10,326,786 | |
TOTAL COMMON STOCKS (Cost $10,038,076,363) | 11,389,738,912 | ||
Preferred Stocks - 1.6% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.5% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 49,039 | 9,023,666 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 4,501 | 184,991 | |
Series F(a)(b)(c) | 88,486 | 3,636,775 | |
12,845,432 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 22,348 | 97,437 | |
Series C(a)(b)(c) | 87,936 | 383,401 | |
Series D(a)(b)(c) | 219,600 | 957,456 | |
1,438,294 | |||
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 1,400 | 496,958 | |
Internet & Direct Marketing Retail - 0.0% | |||
Instacart, Inc.: | |||
Series H(a)(b)(c) | 12,458 | 549,398 | |
Series I(a)(b)(c) | 6,009 | 264,997 | |
Meesho Series F (a)(b)(c) | 66,982 | 5,018,961 | |
5,833,356 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Freenome, Inc.: | |||
Series C(a)(b)(c) | 141,369 | 1,294,940 | |
Series D(b)(c) | 125,665 | 1,151,091 | |
Laronde, Inc. Series B (a)(b)(c) | 81,282 | 1,645,148 | |
Odyssey Therapeutics Series B (b)(c) | 458,024 | 2,894,712 | |
6,985,891 | |||
TOTAL CONSUMER DISCRETIONARY | 14,754,499 | ||
CONSUMER STAPLES - 0.1% | |||
Food & Staples Retailing - 0.1% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 19,907 | 3,141,524 | |
Series H(a)(b)(c) | 20,720 | 3,269,823 | |
6,411,347 | |||
Food Products - 0.0% | |||
AgBiome LLC Series D (a)(b)(c) | 511,821 | 3,193,763 | |
Bowery Farming, Inc. Series C1 (a)(b)(c) | 27,155 | 616,419 | |
3,810,182 | |||
TOTAL CONSUMER STAPLES | 10,221,529 | ||
FINANCIALS - 0.1% | |||
Diversified Financial Services - 0.1% | |||
Apogee Therapeutics Series B (b)(c) | 532,865 | 1,760,884 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series C(a)(b)(c) | 109,967 | 1,190,943 | |
Series D1(b)(c) | 190,900 | 2,067,447 | |
Series D2(b)(c) | 15,557 | 168,482 | |
5,187,756 | |||
HEALTH CARE - 0.6% | |||
Biotechnology - 0.5% | |||
Altos Labs, Inc. Series B (b)(c) | 124,464 | 2,383,286 | |
Ankyra Therapeutics Series B (a)(b)(c) | 329,325 | 1,300,834 | |
Asimov, Inc. Series B (a)(b)(c) | 19,920 | 1,167,312 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 282,257 | 781,852 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 258,638 | 1,448,373 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(b)(c) | 4,476 | 911,940 | |
Series D2(b)(c) | 1,254 | 255,490 | |
Cleerly, Inc. Series C (b)(c) | 294,888 | 3,429,547 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 155,443 | 1,559,093 | |
Dianthus Therapeutics, Inc. Series A (b)(c) | 333,765 | 1,245,911 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 125,057 | 1,708,279 | |
Series C(a)(b)(c) | 114,255 | 1,560,723 | |
ElevateBio LLC Series C (a)(b)(c) | 247,600 | 1,132,275 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 272,597 | 2,933,989 | |
Generate Biomedicines Series B (b)(c) | 191,856 | 1,559,789 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 277,957 | 1,734,452 | |
Series E(a)(b)(c) | 215,182 | 1,342,736 | |
Korro Bio, Inc.: | |||
Series B1(b)(c) | 379,289 | 724,442 | |
Series B2(b)(c) | 356,095 | 680,141 | |
LifeMine Therapeutics, Inc. Series C (b)(c) | 1,759,782 | 3,009,227 | |
National Resilience, Inc.: | |||
Series B(a)(b)(c) | 182,315 | 11,071,990 | |
Series C(a)(b)(c) | 74,748 | 4,539,446 | |
Quell Therapeutics Ltd. Series B (b)(c) | 822,639 | 1,003,620 | |
SalioGen Therapeutics, Inc. Series B (b)(c) | 14,028 | 1,046,068 | |
Saluda Medical Pty Ltd. Series D (b)(c) | 154,870 | 1,787,200 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 587,934 | 987,729 | |
Series B1(a)(b)(c) | 313,559 | 526,779 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 241,456 | 924,776 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 283,817 | 2,443,750 | |
Series A1(b)(c) | 151,334 | 1,303,031 | |
56,504,080 | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC Series C (a)(b)(c) | 145,007 | 5,608,871 | |
Kardium, Inc. Series D6 (a)(b)(c) | 1,087,032 | 809,056 | |
6,417,927 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc. Series B (a)(b)(c) | 756,226 | 688,166 | |
Conformal Medical, Inc. Series C (a)(b)(c) | 140,186 | 499,062 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 260,848 | 326,060 | |
1,513,288 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 26,096 | 1,253,391 | |
Series E1(b)(c) | 21,357 | 1,025,777 | |
DNA Script: | |||
Series B(b)(c) | 6 | 4,636 | |
Series C(a)(b)(c) | 2,549 | 1,969,447 | |
Omada Health, Inc. Series E (b)(c) | 636,551 | 1,947,846 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 37,950 | 98,670 | |
Series B(a)(b)(c) | 196,968 | 512,117 | |
Series C(b)(c) | 65,704 | 170,830 | |
Wugen, Inc. Series B (a)(b)(c) | 121,894 | 636,287 | |
7,619,001 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series C (a)(b)(c) | 582 | 128,925 | |
Galvanize Therapeutics Series B (b)(c) | 1,125,997 | 1,902,935 | |
2,031,860 | |||
TOTAL HEALTH CARE | 74,086,156 | ||
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.1% | |||
Space Exploration Technologies Corp. Series N (a)(b)(c) | 19,900 | 13,930,000 | |
Construction & Engineering - 0.1% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 10,545 | 869,119 | |
Series B, 6.00%(b)(c) | 20,919 | 1,724,144 | |
2,593,263 | |||
TOTAL INDUSTRIALS | 16,523,263 | ||
INFORMATION TECHNOLOGY - 0.2% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. Series E (a)(b)(c) | 754,820 | 415,151 | |
Menlo Micro, Inc. Series C (b)(c) | 993,699 | 1,053,321 | |
1,468,472 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (b)(c) | 43,034 | 744,919 | |
Astera Labs, Inc.: | |||
Series A(b)(c) | 80,597 | 819,671 | |
Series B(b)(c) | 13,723 | 139,563 | |
Series C(a)(b)(c) | 372,400 | 3,787,308 | |
Series D(b)(c) | 273,573 | 2,782,237 | |
GaN Systems, Inc.: | |||
Series F1(b)(c) | 63,044 | 347,372 | |
Series F2(b)(c) | 33,289 | 183,422 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 299,482 | 1,868,768 | |
Series B1(b)(c) | 167,848 | 1,225,290 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 122,201 | 860,295 | |
12,758,845 | |||
Software - 0.1% | |||
Bolt Technology OU Series E (b)(c) | 17,815 | 2,279,097 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 37,815 | 1,786,759 | |
Series H(a)(b)(c) | 56,085 | 2,650,016 | |
Evozyne LLC Series A (a)(b)(c) | 78,000 | 1,216,020 | |
Skyryse, Inc. Series B (a)(b)(c) | 117,653 | 2,366,002 | |
Stripe, Inc. Series H (a)(b)(c) | 14,400 | 365,472 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 16,900 | 903,136 | |
11,566,502 | |||
TOTAL INFORMATION TECHNOLOGY | 25,793,819 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 42,859 | 1,980,943 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 301,038 | 9,762,662 | |
TOTAL MATERIALS | 11,743,605 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(b)(c) | 20,469 | 663,400 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 171,819,459 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Waymo LLC Series A2 (a)(b)(c) | 6,592 | 303,825 | |
Internet & Direct Marketing Retail - 0.1% | |||
Circle Internet Financial Ltd. Series E (b) | 127,757 | 6,276,484 | |
TOTAL CONSUMER DISCRETIONARY | 6,580,309 | ||
TOTAL PREFERRED STOCKS (Cost $176,695,604) | 178,399,768 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 10/27/25 (b)(c)(h) | 1,957,700 | 1,742,745 | |
4% 5/22/27 (b)(c) | 310,600 | 267,333 | |
4% 6/12/27 (b)(c) | 82,200 | 70,750 | |
2,080,828 | |||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (b)(c) | 2,000,000 | 2,101,800 | |
TOTAL CONVERTIBLE BONDS (Cost $4,350,500) | 4,182,628 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(i) | 1,541,987 | 1,541,987 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment & Components - 0.0% | |||
Enevate Corp. 0% 1/29/23 (b)(c) | 321,369 | 302,408 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
GaN Systems, Inc. 0% (b)(c)(i) | 1,477,665 | 934,623 | |
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(i) | 940,000 | 844,872 | |
TOTAL INFORMATION TECHNOLOGY | 2,081,903 | ||
TOTAL PREFERRED SECURITIES (Cost $4,281,021) | 3,623,890 | ||
Money Market Funds - 3.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 3.86% (j) | 22,939,926 | 22,944,514 | |
Fidelity Securities Lending Cash Central Fund 3.86% (j)(k) | 347,549,799 | 347,584,554 | |
TOTAL MONEY MARKET FUNDS (Cost $370,529,068) | 370,529,068 | ||
TOTAL INVESTMENT IN SECURITIES - 102.9% (Cost $10,593,932,556) | 11,946,474,266 |
NET OTHER ASSETS (LIABILITIES) - (2.9)% | (334,869,299) |
NET ASSETS - 100.0% | 11,611,604,967 |
(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 $261,126,981 or 2.2% 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 $49,708,066 or 0.4% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(k) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Adimab LLC | 1/19/21 | 10,000,008 |
AgBiome LLC Series D | 9/03/21 | 3,033,967 |
Aledade, Inc. Series B1 | 5/07/21 | 999,234 |
Aledade, Inc. Series E1 | 5/20/22 | 1,063,886 |
Alif Semiconductor Series C | 3/08/22 | 873,527 |
Altos Labs, Inc. Series B | 7/22/22 | 2,383,286 |
Ankyra Therapeutics Series B | 8/26/21 | 1,854,693 |
Apogee Therapeutics Series B | 11/15/22 | 1,760,884 |
Asimov, Inc. Series B | 10/29/21 | 1,846,200 |
Astera Labs, Inc. Series A | 5/17/22 | 819,631 |
Astera Labs, Inc. Series B | 5/17/22 | 139,556 |
Astera Labs, Inc. Series C | 8/24/21 | 1,251,934 |
Astera Labs, Inc. Series D | 5/17/22 | 2,782,101 |
Beta Technologies, Inc. Series A | 4/09/21 | 772,632 |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 2,158,213 |
Bird Global, Inc. | 5/11/21 | 1,564,250 |
Blink Health LLC Series A1 | 12/30/20 | 1,786,125 |
Blink Health LLC Series C | 11/07/19 - 7/14/21 | 5,535,788 |
Blink Health LLC 5% 1/15/24 | 7/15/22 | 2,000,000 |
Bolt Technology OU Series E | 1/03/22 | 4,628,275 |
Boundless Bio, Inc. Series B | 4/23/21 | 1,020,905 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 1,636,070 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 1,102,496 |
ByteDance Ltd. Series E1 | 11/18/20 | 5,373,408 |
Caris Life Sciences, Inc. | 10/06/22 | 2,031,630 |
Caris Life Sciences, Inc. Series D | 5/11/21 | 2,094,968 |
Castle Creek Biosciences, Inc. Series D1 | 4/19/22 | 962,474 |
Castle Creek Biosciences, Inc. Series D2 | 6/28/21 | 215,100 |
Castle Creek Pharmaceutical Holdings, Inc. Series C | 12/09/19 | 239,697 |
Cibus Corp. Series E | 6/23/21 | 3,635,588 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 2,073,500 |
Cleerly, Inc. Series C | 7/08/22 | 3,473,958 |
Conformal Medical, Inc. Series C | 7/24/20 | 514,071 |
Databricks, Inc. Series G | 2/01/21 | 2,235,722 |
Databricks, Inc. Series H | 8/31/21 | 4,121,358 |
Deep Genomics, Inc. Series C | 7/21/21 | 2,254,110 |
Diamond Foundry, Inc. Series C | 3/15/21 | 7,224,912 |
Dianthus Therapeutics, Inc. Series A | 4/06/22 | 1,450,710 |
Discord, Inc. Series I | 9/15/21 | 770,874 |
DNA Script | 12/17/21 | 443,611 |
DNA Script Series B | 12/17/21 | 4,804 |
DNA Script Series C | 10/01/21 | 2,217,248 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 830,209 |
Element Biosciences, Inc. Series B | 12/13/19 | 655,374 |
Element Biosciences, Inc. Series C | 6/21/21 | 2,348,706 |
ElevateBio LLC Series C | 3/09/21 | 1,038,682 |
Enevate Corp. Series E | 1/29/21 | 836,858 |
Enevate Corp. 0% 1/29/23 | 1/29/21 | 321,369 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 2,875,000 |
Evozyne LLC Series A | 4/09/21 | 1,752,660 |
Fanatics, Inc. Class A | 8/13/20 - 10/24/22 | 7,298,410 |
Farmers Business Network, Inc. Series G | 9/15/21 | 2,664,021 |
Fog Pharmaceuticals, Inc. Series D | 11/17/22 | 2,933,989 |
Freenome, Inc. Series C | 8/14/20 | 934,916 |
Freenome, Inc. Series D | 11/22/21 | 947,803 |
Galvanize Therapeutics Series B | 3/29/22 | 1,949,422 |
GaN Systems, Inc. Series F1 | 11/30/21 | 534,613 |
GaN Systems, Inc. Series F2 | 11/30/21 | 282,291 |
GaN Systems, Inc. 0% | 11/30/21 | 1,477,665 |
Generate Biomedicines Series B | 11/02/21 | 2,273,494 |
GoBrands, Inc. Series G | 3/02/21 | 4,971,122 |
GoBrands, Inc. Series H | 7/22/21 | 8,049,525 |
Inscripta, Inc. Series D | 11/13/20 | 1,270,263 |
Inscripta, Inc. Series E | 3/30/21 | 1,900,057 |
Instacart, Inc. Series H | 11/13/20 | 747,480 |
Instacart, Inc. Series I | 2/26/21 | 751,125 |
Kardium, Inc. Series D6 | 12/30/20 | 1,104,251 |
Kardium, Inc. 0% | 12/30/20 | 1,541,987 |
Korro Bio, Inc. Series B1 | 12/17/21 | 989,944 |
Korro Bio, Inc. Series B2 | 12/17/21 | 989,944 |
Laronde, Inc. Series B | 8/13/21 | 2,275,896 |
LifeMine Therapeutics, Inc. Series C | 2/15/22 | 3,583,954 |
Meesho Series F | 9/21/21 | 5,135,664 |
Menlo Micro, Inc. Series C | 2/09/22 | 1,317,148 |
National Resilience, Inc. Series B | 12/01/20 | 2,490,423 |
National Resilience, Inc. Series C | 6/28/21 | 3,319,559 |
Neutron Holdings, Inc. 4% 10/27/25 | 10/29/21 | 1,957,700 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 310,600 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 82,200 |
Oddity Tech Ltd. | 1/06/22 | 1,594,239 |
Odyssey Therapeutics Series B | 9/30/22 | 2,892,806 |
Omada Health, Inc. Series E | 12/22/21 | 3,816,251 |
Paragon Biosciences Emalex Capital, Inc. Series C | 2/26/21 | 1,176,647 |
Paragon Biosciences Emalex Capital, Inc. Series D1 | 10/21/22 | 2,067,447 |
Paragon Biosciences Emalex Capital, Inc. Series D2 | 5/18/22 | 134,101 |
PrognomIQ, Inc. Series A5 | 8/20/20 | 22,922 |
PrognomIQ, Inc. Series B | 9/11/20 | 450,094 |
PrognomIQ, Inc. Series C | 2/16/22 | 201,054 |
Quell Therapeutics Ltd. Series B | 11/24/21 | 1,554,788 |
Rad Power Bikes, Inc. | 1/21/21 | 826,883 |
Rad Power Bikes, Inc. Series A | 1/21/21 | 107,803 |
Rad Power Bikes, Inc. Series C | 1/21/21 | 424,189 |
Rad Power Bikes, Inc. Series D | 9/17/21 | 2,104,602 |
Reddit, Inc. Series E | 5/18/21 | 191,176 |
Reddit, Inc. Series F | 8/11/21 | 5,467,939 |
Redwood Materials Series C | 5/28/21 | 970,302 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 1,485,060 |
Saluda Medical Pty Ltd. Series D | 1/20/22 | 1,975,505 |
Saluda Medical Pty Ltd. warrants | 1/20/22 | 0 |
Scholar Rock Holding Corp. warrants 12/31/25 | 6/17/22 | 0 |
Scorpion Therapeutics, Inc. Series B | 1/08/21 | 631,103 |
SiMa.ai Series B | 5/10/21 | 1,535,564 |
SiMa.ai Series B1 | 4/25/22 - 10/17/22 | 1,190,194 |
Skyhawk Therapeutics, Inc. | 5/21/21 | 2,094,864 |
Skyryse, Inc. Series B | 10/21/21 | 2,903,673 |
Sonoma Biotherapeutics, Inc. Series B | 7/26/21 | 1,161,934 |
Sonoma Biotherapeutics, Inc. Series B1 | 7/26/21 | 929,546 |
Space Exploration Technologies Corp. Class A | 2/16/21 - 5/24/22 | 21,637,941 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 5,373,000 |
SpringWorks Therapeutics, Inc. | 9/07/22 | 2,962,539 |
Stripe, Inc. Class B | 5/18/21 | 1,544,943 |
Stripe, Inc. Series H | 3/15/21 | 577,800 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 1,392,911 |
Tenstorrent, Inc. Series C1 | 4/23/21 | 1,004,778 |
Tenstorrent, Inc. 0% | 4/23/21 | 940,000 |
The Beauty Health Co. | 12/08/20 | 4,286,430 |
The Oncology Institute, Inc. | 6/28/21 | 4,467,880 |
Treeline Biosciences Series A | 7/30/21 - 10/27/22 | 2,221,578 |
Treeline Biosciences Series A1 | 10/27/22 | 1,303,031 |
Waymo LLC Series A2 | 5/08/20 | 566,037 |
Wheels Up Experience, Inc. | 2/01/21 | 9,615,360 |
Wugen, Inc. Series B | 7/09/21 | 945,276 |
X Holdings I, Inc. | 10/27/21 | 2,482,445 |
Xsight Labs Ltd. Series D | 2/16/21 | 977,119 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 3.86% | 116,356,559 | 1,258,453,185 | 1,351,865,230 | 664,109 | - | - | 22,944,514 | 0.0% |
Fidelity Securities Lending Cash Central Fund 3.86% | 289,768,031 | 2,391,068,303 | 2,333,251,780 | 1,701,662 | - | - | 347,584,554 | 1.1% |
Total | 406,124,590 | 3,649,521,488 | 3,685,117,010 | 2,365,771 | - | - | 370,529,068 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 785,160,077 | 768,080,395 | - | 17,079,682 |
Consumer Discretionary | 2,389,293,757 | 2,345,863,765 | 11,997,128 | 31,432,864 |
Consumer Staples | 572,416,311 | 562,194,780 | - | 10,221,531 |
Energy | 489,272,872 | 459,280,729 | 29,992,143 | - |
Financials | 189,774,230 | 184,586,474 | - | 5,187,756 |
Health Care | 2,031,713,933 | 1,916,012,934 | 24,576,413 | 91,124,586 |
Industrials | 636,260,708 | 576,174,209 | 20,830,792 | 39,255,707 |
Information Technology | 4,174,187,610 | 4,141,239,717 | 4,997,091 | 27,950,802 |
Materials | 236,041,516 | 220,269,845 | - | 15,771,671 |
Real Estate | 53,027,480 | 53,027,480 | - | - |
Utilities | 10,990,186 | - | 10,326,786 | 663,400 |
Corporate Bonds | 4,182,628 | - | - | 4,182,628 |
Preferred Securities | 3,623,890 | - | - | 3,623,890 |
Money Market Funds | 370,529,068 | 370,529,068 | - | - |
Total Investments in Securities: | 11,946,474,266 | 11,597,259,396 | 102,720,353 | 246,494,517 |
Investments in Securities: | |||
Beginning Balance | $ | 191,282,621 | |
Net Realized Gain (Loss) on Investment Securities | (1,003,365) | ||
Net Unrealized Gain (Loss) on Investment Securities | (25,854,766) | ||
Cost of Purchases | 79,342,374 | ||
Proceeds of Sales | (733,353) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 5,768,374 | ||
Transfers out of Level 3 | (2,307,368) | ||
Ending Balance | $ | 246,494,517 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2022 | $ | (25,852,986) | |
The information used in the above reconciliation represents fiscal year to date activity for any Investments in Securities identified as using Level 3 inputs at either the beginning or the end of the current fiscal period. Cost of purchases and proceeds of sales may include securities received and/or delivered through in-kind transactions. Transfers into Level 3 were attributable to a lack of observable market data resulting from decreases in market activity, decreases in liquidity, security restructurings or corporate actions. Transfers out of Level 3 were attributable to observable market data becoming available for those securities. Transfers in or out of Level 3 represent the beginning value of any Security or Instrument where a change in the pricing level occurred from the beginning to the end of the period. The cost of purchases and the proceeds of sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) disclosed in the reconciliation are included in Net Gain (Loss) on the Fund's Statement of Operations. |
Statement of Assets and Liabilities | ||||
November 30, 2022 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $358,957,769) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $10,223,403,488) | $11,575,945,198 | |||
Fidelity Central Funds (cost $370,529,068) | 370,529,068 | |||
Total Investment in Securities (cost $10,593,932,556) | $ | 11,946,474,266 | ||
Foreign currency held at value (cost $425,924) | 457,191 | |||
Receivable for investments sold | 21,976,736 | |||
Receivable for fund shares sold | 2,575,343 | |||
Dividends receivable | 7,465,680 | |||
Interest receivable | 85,249 | |||
Distributions receivable from Fidelity Central Funds | 205,959 | |||
Other receivables | 189,773 | |||
Total assets | 11,979,430,197 | |||
Liabilities | ||||
Payable for investments purchased | $10,640,808 | |||
Payable for fund shares redeemed | 4,235,138 | |||
Accrued management fee | 4,007,637 | |||
Other payables and accrued expenses | 1,359,638 | |||
Collateral on securities loaned | 347,582,009 | |||
Total Liabilities | 367,825,230 | |||
Net Assets | $ | 11,611,604,967 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 10,933,409,512 | ||
Total accumulated earnings (loss) | 678,195,455 | |||
Net Assets | $ | 11,611,604,967 | ||
Net Asset Value , offering price and redemption price per share ($11,611,604,967 ÷ 690,023,519 shares) | $ | 16.83 | ||
Statement of Operations | ||||
Year ended November 30, 2022 | ||||
Investment Income | ||||
Dividends | $ | 67,688,528 | ||
Interest | 100,820 | |||
Income from Fidelity Central Funds (including $1,701,662 from security lending) | 2,365,771 | |||
Total Income | 70,155,119 | |||
Expenses | ||||
Management fee | $ | 52,271,948 | ||
Independent trustees' fees and expenses | 41,398 | |||
Interest | 345 | |||
Total expenses before reductions | 52,313,691 | |||
Expense reductions | (399) | |||
Total expenses after reductions | 52,313,292 | |||
Net Investment income (loss) | 17,841,827 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers(net of foreign taxes of $268,484) | (392,628,676) | |||
Foreign currency transactions | (40,132) | |||
Futures contracts | 1,201,543 | |||
Total net realized gain (loss) | (391,467,265) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $749,098) | (3,953,668,304) | |||
Unfunded commitments | 1,136,527 | |||
Assets and liabilities in foreign currencies | 39,163 | |||
Total change in net unrealized appreciation (depreciation) | (3,952,492,614) | |||
Net gain (loss) | (4,343,959,879) | |||
Net increase (decrease) in net assets resulting from operations | $ | (4,326,118,052) |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2022 | Year ended November 30, 2021 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 17,841,827 | $ | (936,782) |
Net realized gain (loss) | (391,467,265) | 610,189,315 | ||
Change in net unrealized appreciation (depreciation) | (3,952,492,614) | 2,584,713,305 | ||
Net increase (decrease) in net assets resulting from operations | (4,326,118,052) | 3,193,965,838 | ||
Distributions to shareholders | (380,672,676) | (77,746,793) | ||
Share transactions | ||||
Proceeds from sales of shares | 4,035,985,469 | 6,585,080,711 | ||
Reinvestment of distributions | 379,380,027 | 77,746,793 | ||
Cost of shares redeemed | (3,067,304,400) | (2,808,800,801) | ||
Net increase (decrease) in net assets resulting from share transactions | 1,348,061,096 | 3,854,026,703 | ||
Total increase (decrease) in net assets | (3,358,729,632) | 6,970,245,748 | ||
Net Assets | ||||
Beginning of period | 14,970,334,599 | 8,000,088,851 | ||
End of period | $ | 11,611,604,967 | $ | 14,970,334,599 |
Other Information | ||||
Shares | ||||
Sold | 224,328,843 | 315,731,938 | ||
Issued in reinvestment of distributions | 16,416,271 | 4,040,894 | ||
Redeemed | (167,608,003) | (131,432,053) | ||
Net increase (decrease) | 73,137,111 | 188,340,779 | ||
Fidelity® Growth Company K6 Fund |
Years ended November 30, | 2022 | 2021 | 2020 | 2019 A | ||||
Selected Per-Share Data | ||||||||
Net asset value, beginning of period | $ | 24.27 | $ | 18.67 | $ | 11.19 | $ | 10.00 |
Income from Investment Operations | ||||||||
Net investment income (loss) B,C | .03 | - D,E | - D | .01 | ||||
Net realized and unrealized gain (loss) | (6.87) | 5.78 | 7.49 | 1.18 | ||||
Total from investment operations | (6.84) | 5.78 | 7.49 | 1.19 | ||||
Distributions from net investment income | - | (.02) | (.01) | - | ||||
Distributions from net realized gain | (.60) | (.16) | - | - | ||||
Total distributions | (.60) | (.18) | (.01) | - | ||||
Net asset value, end of period | $ | 16.83 | $ | 24.27 | $ | 18.67 | $ | 11.19 |
Total Return F,G | (28.85)% | 31.20% | 66.95% | 11.90% | ||||
Ratios to Average Net Assets C,H,I | ||||||||
Expenses before reductions | .45% | .45% | .45% | .45% J | ||||
Expenses net of fee waivers, if any | .45% | .45% | .45% | .45% J | ||||
Expenses net of all reductions | .45% | .45% | .45% | .45% J | ||||
Net investment income (loss) | .15% | (.01)% E | .01% | .29% J | ||||
Supplemental Data | ||||||||
Net assets, end of period (000 omitted) | $ | 11,611,605 | $ | 14,970,335 | $ | 8,000,089 | $ | 1,853,643 |
Portfolio turnover rate K,L | 23% | 22% | 18% | 16% M |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio A |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Asset Type | Fair Value | Valuation Technique(s) | Unobservable Input | Amount or Range/Weighted Average | Impact to Valuation from an Increase in Input A |
Equities | $238,687,996 | Recovery value | Recovery value | $0.00 | Increase |
Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 5.5 - 23.0 / 7.0 | Increase | ||
Enterprise value/Revenue multiple (EV/R) | 2.2 - 24.0 / 7.1 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 7.5 | Increase | |||
Premium rate | 5.0% | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Market approach | Parity price | $0.79 | Increase | ||
Discount rate | 5.3% - 53.6% / 26.2% | Decrease | |||
Transaction price | $0.02 - $215.03 / $27.60 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Discounted cash flow | Discount rate | 14.0% | Decrease | ||
Weighted average cost of capital (WACC) | 25.0% - 37.0% / 32.5% | Decrease | |||
Exit multiple | 1.8 - 5.5 / 3.3 | Increase | |||
Book value | Book value multiple | 1.0 | Increase | ||
Black scholes | Volatility | 55.0% - 100.0% / 68.6% | Increase | ||
Term | 2.0 - 4.0 / 2.5 | Increase | |||
Corporate Bonds | $4,182,628 | Market comparable | Discount rate | 21.7% - 29.2% / 25.1% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 2.9 - 12.0 / 7.4 | Increase | |||
Probability rate | 10.0% - 50.0% / 33.2% | Increase | |||
Black scholes | Volatility | 50.0% - 75.0% / 61.3% | Increase | ||
Term | 0.6 - 1.1 / 0.8 | Increase | |||
Preferred Securities | $3,623,890 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 4.8 | Increase |
Probability rate | 10.0% - 90.0% / 50.0% | Increase | |||
Market approach | Discount rate | 10.0% - 50.0% / 20.5% | Decrease | ||
Transaction price | $1.11 - $100.00 / $88.88 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Black scholes | Volatility | 70.0% - 100.0% / 77.9% | Increase | ||
Term | 2.0 - 3.0 / 2.3 | Increase |
Gross unrealized appreciation | $2,671,355,400 |
Gross unrealized depreciation | (1,357,292,769) |
Net unrealized appreciation (depreciation) | $1,314,062,631 |
Tax Cost | $10,632,411,635 |
Undistributed ordinary income | $17,372,714 |
Capital loss carryforward | $(652,136,285) |
Net unrealized appreciation (depreciation) on securities and other investments | $1,314,096,889 |
Short-term | $(477,411,298) |
Long-term | (174,724,987) |
Total capital loss carryforward | $(652,136,285) |
November 30, 2022 | November 30, 2021 | |
Ordinary Income | $ 110,477,145 | $ 47,777,363 |
Long-term Capital Gains | 270,195,531 | 29,969,430 |
Total | $380,672,676 | $77,746,793 |
$ Amount | % of Net Assets | |
Fidelity Growth Company K6 Fund | 11,961,127 | .10 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Growth Company K6 Fund | 2,738,099,249 | 2,627,185,755 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 37,569,308 | 275,040,157 | 687,087,050 |
Shares | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 92,411,202 | 1,624,959,544 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 19,127,529 | 231,544,936 | 416,988,954 |
Shares | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 142,380,312 | 2,958,974,001 |
Amount | |
Fidelity Growth Company K6 Fund | $73,102 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Company K6 Fund | Borrower | $39,399,000 | .32% | $345 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company K6 Fund | 408,708,620 | 231,850,917 | (64,106,276) |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Company K6 Fund | $181,376 | $13,922 | $394,231 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2022 to November 30, 2022). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2022 | Ending Account Value November 30, 2022 | Expenses Paid During Period- C June 1, 2022 to November 30, 2022 | |||||||
Fidelity® Growth Company K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,006.60 | $ 2.26 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.81 | $ 2.28 | |||||||
Item 2.
Code of Ethics
As of the end of the period, November 30, 2022, Fidelity Mt. Vernon Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Growth Company Fund, Fidelity Growth Company K6 Fund and Fidelity Series Growth Company Fund (the “Funds”):
Services Billed by Deloitte Entities
November 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Company Fund | $103,500 | $- | $9,700 | $1,600 |
Fidelity Growth Company K6 Fund | $95,200 | $- | $8,800 | $1,500 |
Fidelity Series Growth Company Fund | $65,300 | $- | $8,800 | $1,500 |
November 30, 2021 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Company Fund | $112,500 | $- | $9,000 | $1,600 |
Fidelity Growth Company K6 Fund | $66,100 | $- | $8,500 | $1,600 |
Fidelity Series Growth Company Fund | $63,100 | $- | $9,000 | $1,500 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Growth Strategies Fund, Fidelity Growth Strategies K6 Fund and Fidelity New Millennium Fund (the “Funds”):
Services Billed by PwC
November 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Strategies Fund | $40,400 | $3,600 | $8,000 | $1,200 |
Fidelity Growth Strategies K6 Fund | $37,300 | $3,300 | $7,200 | $1,100 |
Fidelity New Millennium Fund | $55,300 | $4,800 | $67,200 | $1,600 |
November 30, 2021 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Strategies Fund | $39,400 | $3,900 | $7,800 | $1,300 |
Fidelity Growth Strategies K6 Fund | $36,300 | $3,500 | $7,000 | $1,200 |
Fidelity New Millennium Fund | $53,800 | $5,100 | $40,600 | $1,700 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
November 30, 2022A | November 30, 2021A | |
Audit-Related Fees | $- | $- |
Tax Fees | $- | $- |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
Services Billed by PwC
November 30, 2022A | November 30, 2021A | |
Audit-Related Fees | $7,914,600 | $8,522,600 |
Tax Fees | $1,000 | $354,200 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | November 30, 2022A | November 30, 2021A |
Deloitte Entities | $489,500 | $552,800 |
PwC | $12,993,300 | $14,203,200 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information
relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Mt. Vernon Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 19, 2023 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 19, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | January 19, 2023 |