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, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, 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: | May 31, 2023 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
onsemi | 3.1 | |
AutoZone, Inc. | 3.1 | |
Synopsys, Inc. | 2.9 | |
Mettler-Toledo International, Inc. | 2.8 | |
DexCom, Inc. | 2.4 | |
Copart, Inc. | 2.4 | |
Cadence Design Systems, Inc. | 2.3 | |
ResMed, Inc. | 2.3 | |
MSCI, Inc. | 2.3 | |
Old Dominion Freight Lines, Inc. | 2.1 | |
25.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 23.9 | |
Industrials | 22.5 | |
Health Care | 17.1 | |
Consumer Discretionary | 13.0 | |
Financials | 8.2 | |
Energy | 4.6 | |
Consumer Staples | 3.2 | |
Communication Services | 3.1 | |
Materials | 1.2 | |
Real Estate | 1.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 3.1% | |||
Interactive Media & Services - 1.1% | |||
Pinterest, Inc. Class A (a) | 57,700 | 1,381,338 | |
Media - 2.0% | |||
The Trade Desk, Inc. (a) | 37,900 | 2,656,032 | |
TOTAL COMMUNICATION SERVICES | 4,037,370 | ||
CONSUMER DISCRETIONARY - 13.0% | |||
Automobile Components - 0.5% | |||
Atmus Filtration Technologies, Inc. | 6,500 | 134,810 | |
Mobileye Global, Inc. (b) | 13,000 | 579,410 | |
714,220 | |||
Distributors - 1.5% | |||
Genuine Parts Co. | 5,935 | 883,900 | |
Pool Corp. (b) | 3,420 | 1,081,507 | |
1,965,407 | |||
Diversified Consumer Services - 0.5% | |||
Duolingo, Inc. (a) | 4,200 | 628,194 | |
Hotels, Restaurants & Leisure - 3.2% | |||
Chipotle Mexican Grill, Inc. (a) | 470 | 975,950 | |
Choice Hotels International, Inc. (b) | 7,700 | 873,873 | |
Churchill Downs, Inc. | 9,800 | 1,331,036 | |
Domino's Pizza, Inc. | 3,274 | 948,969 | |
4,129,828 | |||
Household Durables - 0.6% | |||
NVR, Inc. (a) | 100 | 555,422 | |
PulteGroup, Inc. | 3,100 | 204,848 | |
760,270 | |||
Specialty Retail - 6.6% | |||
AutoZone, Inc. (a) | 1,680 | 4,009,891 | |
Foot Locker, Inc. | 12,600 | 319,032 | |
Murphy U.S.A., Inc. | 200 | 55,284 | |
O'Reilly Automotive, Inc. (a) | 3,017 | 2,725,286 | |
Tractor Supply Co. | 7,200 | 1,509,048 | |
8,618,541 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 304 | 144,400 | |
TOTAL CONSUMER DISCRETIONARY | 16,960,860 | ||
CONSUMER STAPLES - 3.2% | |||
Beverages - 0.7% | |||
Brown-Forman Corp. Class B (non-vtg.) | 10,378 | 641,049 | |
Celsius Holdings, Inc. (a) | 1,700 | 213,401 | |
854,450 | |||
Consumer Staples Distribution & Retail - 0.3% | |||
Dollar General Corp. | 1,810 | 363,973 | |
Food Products - 2.1% | |||
Bunge Ltd. | 7,041 | 652,278 | |
Darling Ingredients, Inc. (a) | 11,064 | 701,236 | |
Lamb Weston Holdings, Inc. | 12,700 | 1,412,240 | |
2,765,754 | |||
Personal Care Products - 0.1% | |||
Estee Lauder Companies, Inc. Class A | 939 | 172,804 | |
Kenvue, Inc. | 170 | 4,265 | |
177,069 | |||
TOTAL CONSUMER STAPLES | 4,161,246 | ||
ENERGY - 4.6% | |||
Oil, Gas & Consumable Fuels - 4.6% | |||
Cheniere Energy, Inc. | 12,100 | 1,691,217 | |
Hess Corp. | 10,058 | 1,274,047 | |
Marathon Petroleum Corp. | 2,000 | 209,820 | |
Occidental Petroleum Corp. | 7,900 | 455,514 | |
PDC Energy, Inc. | 24,700 | 1,694,914 | |
Valero Energy Corp. | 6,500 | 695,760 | |
6,021,272 | |||
FINANCIALS - 8.2% | |||
Capital Markets - 6.2% | |||
Ameriprise Financial, Inc. | 6,800 | 2,029,596 | |
LPL Financial | 3,900 | 759,642 | |
MarketAxess Holdings, Inc. | 2,918 | 794,892 | |
Moody's Corp. | 705 | 223,400 | |
MSCI, Inc. | 6,336 | 2,981,278 | |
State Street Corp. | 10,800 | 734,616 | |
T. Rowe Price Group, Inc. | 3,420 | 366,487 | |
Tradeweb Markets, Inc. Class A | 1,769 | 118,435 | |
8,008,346 | |||
Financial Services - 0.0% | |||
Adyen BV (a)(c) | 8 | 13,103 | |
Insurance - 2.0% | |||
Arthur J. Gallagher & Co. | 6,538 | 1,309,758 | |
Everest Re Group Ltd. | 2,300 | 782,046 | |
Globe Life, Inc. | 3,500 | 361,130 | |
Hartford Financial Services Group, Inc. | 2,700 | 185,004 | |
2,637,938 | |||
TOTAL FINANCIALS | 10,659,387 | ||
HEALTH CARE - 17.1% | |||
Health Care Equipment & Supplies - 8.7% | |||
Baxter International, Inc. | 18,000 | 732,960 | |
DexCom, Inc. (a) | 26,900 | 3,154,294 | |
Edwards Lifesciences Corp. (a) | 3,670 | 309,124 | |
Haemonetics Corp. (a) | 1,700 | 143,820 | |
IDEXX Laboratories, Inc. (a) | 704 | 327,198 | |
Insulet Corp. (a) | 7,300 | 2,002,025 | |
Intuitive Surgical, Inc. (a) | 815 | 250,890 | |
Penumbra, Inc. (a) | 1,100 | 338,074 | |
ResMed, Inc. | 14,282 | 3,010,503 | |
Shockwave Medical, Inc. (a) | 3,800 | 1,045,342 | |
11,314,230 | |||
Health Care Providers & Services - 2.0% | |||
Laboratory Corp. of America Holdings | 2,314 | 491,794 | |
McKesson Corp. | 2,800 | 1,094,352 | |
Molina Healthcare, Inc. (a) | 3,800 | 1,040,820 | |
2,626,966 | |||
Health Care Technology - 0.9% | |||
Doximity, Inc. (a)(b) | 15,800 | 484,586 | |
Veeva Systems, Inc. Class A (a) | 4,426 | 733,388 | |
1,217,974 | |||
Life Sciences Tools & Services - 5.5% | |||
Agilent Technologies, Inc. | 1,200 | 138,804 | |
Charles River Laboratories International, Inc. (a) | 7,500 | 1,450,350 | |
Mettler-Toledo International, Inc. (a) | 2,715 | 3,588,877 | |
West Pharmaceutical Services, Inc. | 5,835 | 1,952,566 | |
7,130,597 | |||
TOTAL HEALTH CARE | 22,289,767 | ||
INDUSTRIALS - 22.5% | |||
Aerospace & Defense - 1.1% | |||
TransDigm Group, Inc. | 1,888 | 1,460,651 | |
Building Products - 2.7% | |||
Builders FirstSource, Inc. (a) | 5,000 | 579,750 | |
Carrier Global Corp. | 34,400 | 1,406,960 | |
Trane Technologies PLC | 9,000 | 1,469,070 | |
3,455,780 | |||
Commercial Services & Supplies - 4.9% | |||
Cintas Corp. | 5,300 | 2,502,342 | |
Copart, Inc. (a) | 35,503 | 3,109,708 | |
GFL Environmental, Inc. | 15,489 | 559,772 | |
Tetra Tech, Inc. | 1,408 | 193,558 | |
6,365,380 | |||
Construction & Engineering - 1.7% | |||
EMCOR Group, Inc. | 2,300 | 379,132 | |
Quanta Services, Inc. | 10,000 | 1,775,800 | |
2,154,932 | |||
Electrical Equipment - 1.7% | |||
AMETEK, Inc. | 8,550 | 1,240,349 | |
Atkore, Inc. (a) | 8,046 | 939,531 | |
2,179,880 | |||
Ground Transportation - 2.2% | |||
Lyft, Inc. (a) | 17,250 | 155,595 | |
Old Dominion Freight Lines, Inc. | 8,951 | 2,778,748 | |
2,934,343 | |||
Machinery - 4.2% | |||
Cummins, Inc. | 3,800 | 776,758 | |
IDEX Corp. | 3,520 | 701,043 | |
Otis Worldwide Corp. | 9,555 | 759,718 | |
PACCAR, Inc. | 10,900 | 749,702 | |
Parker Hannifin Corp. | 4,200 | 1,345,848 | |
Toro Co. | 11,821 | 1,156,448 | |
5,489,517 | |||
Professional Services - 2.2% | |||
Booz Allen Hamilton Holding Corp. Class A | 3,970 | 399,303 | |
Paychex, Inc. | 9,600 | 1,007,328 | |
Paycom Software, Inc. | 4,000 | 1,120,520 | |
SS&C Technologies Holdings, Inc. | 5,900 | 324,264 | |
2,851,415 | |||
Trading Companies & Distributors - 1.8% | |||
W.W. Grainger, Inc. | 3,600 | 2,336,472 | |
TOTAL INDUSTRIALS | 29,228,370 | ||
INFORMATION TECHNOLOGY - 23.9% | |||
Communications Equipment - 1.6% | |||
Arista Networks, Inc. (a) | 12,600 | 2,095,884 | |
Electronic Equipment, Instruments & Components - 2.3% | |||
Amphenol Corp. Class A | 24,700 | 1,863,615 | |
Keysight Technologies, Inc. (a) | 6,600 | 1,067,880 | |
2,931,495 | |||
IT Services - 1.6% | |||
EPAM Systems, Inc. (a) | 4,200 | 1,077,804 | |
Twilio, Inc. Class A (a) | 14,400 | 1,002,528 | |
2,080,332 | |||
Semiconductors & Semiconductor Equipment - 7.1% | |||
Broadcom, Inc. | 450 | 363,582 | |
Enphase Energy, Inc. (a) | 4,100 | 712,908 | |
KLA Corp. | 900 | 398,691 | |
Lam Research Corp. | 503 | 310,200 | |
Lattice Semiconductor Corp. (a) | 15,991 | 1,300,228 | |
Monolithic Power Systems, Inc. | 3,400 | 1,665,694 | |
NXP Semiconductors NV | 2,414 | 432,347 | |
onsemi (a) | 48,579 | 4,061,206 | |
9,244,856 | |||
Software - 11.3% | |||
Atlassian Corp. PLC (a) | 1,509 | 272,812 | |
Autodesk, Inc. (a) | 1,911 | 381,034 | |
Cadence Design Systems, Inc. (a) | 13,100 | 3,024,921 | |
DocuSign, Inc. (a) | 13,900 | 783,960 | |
Dynatrace, Inc. (a) | 22,900 | 1,167,671 | |
Fortinet, Inc. (a) | 38,500 | 2,630,705 | |
HubSpot, Inc. (a) | 1,812 | 938,598 | |
Intuit, Inc. | 800 | 335,296 | |
Roper Technologies, Inc. | 816 | 370,644 | |
Synopsys, Inc. (a) | 8,200 | 3,730,672 | |
Zoom Video Communications, Inc. Class A (a) | 17,000 | 1,141,210 | |
14,777,523 | |||
TOTAL INFORMATION TECHNOLOGY | 31,130,090 | ||
MATERIALS - 1.2% | |||
Metals & Mining - 1.2% | |||
Steel Dynamics, Inc. | 16,900 | 1,553,110 | |
REAL ESTATE - 1.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.1% | |||
SBA Communications Corp. Class A | 834 | 184,965 | |
VICI Properties, Inc. | 38,200 | 1,181,526 | |
1,366,491 | |||
TOTAL COMMON STOCKS (Cost $84,037,337) | 127,407,963 | ||
Money Market Funds - 4.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (d) | 2,881,540 | 2,882,117 | |
Fidelity Securities Lending Cash Central Fund 5.14% (d)(e) | 3,126,912 | 3,127,225 | |
TOTAL MONEY MARKET FUNDS (Cost $6,009,342) | 6,009,342 | ||
TOTAL INVESTMENT IN SECURITIES - 102.5% (Cost $90,046,679) | 133,417,305 |
NET OTHER ASSETS (LIABILITIES) - (2.5)% | (3,222,387) |
NET ASSETS - 100.0% | 130,194,918 |
(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 $13,103 or 0.0% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.14% | 2,816,993 | 25,702,825 | 25,637,701 | 64,430 | - | - | 2,882,117 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.14% | 1,108,800 | 12,454,305 | 10,435,880 | 6,327 | - | - | 3,127,225 | 0.0% |
Total | 3,925,793 | 38,157,130 | 36,073,581 | 70,757 | - | - | 6,009,342 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,037,370 | 4,037,370 | - | - |
Consumer Discretionary | 16,960,860 | 16,960,860 | - | - |
Consumer Staples | 4,161,246 | 4,161,246 | - | - |
Energy | 6,021,272 | 6,021,272 | - | - |
Financials | 10,659,387 | 10,646,284 | 13,103 | - |
Health Care | 22,289,767 | 22,289,767 | - | - |
Industrials | 29,228,370 | 29,228,370 | - | - |
Information Technology | 31,130,090 | 31,130,090 | - | - |
Materials | 1,553,110 | 1,553,110 | - | - |
Real Estate | 1,366,491 | 1,366,491 | - | - |
Money Market Funds | 6,009,342 | 6,009,342 | - | - |
Total Investments in Securities: | 133,417,305 | 133,404,202 | 13,103 | - |
Statement of Assets and Liabilities | ||||
May 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $2,994,178) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $84,037,337) | $ | 127,407,963 | ||
Fidelity Central Funds (cost $6,009,342) | 6,009,342 | |||
Total Investment in Securities (cost $90,046,679) | $ | 133,417,305 | ||
Receivable for investments sold | 192,387 | |||
Receivable for fund shares sold | 7,509 | |||
Dividends receivable | 74,324 | |||
Distributions receivable from Fidelity Central Funds | 12,916 | |||
Other receivables | 1,191 | |||
Total assets | 133,705,632 | |||
Liabilities | ||||
Payable for investments purchased | $ | 312,589 | ||
Payable for fund shares redeemed | 21,504 | |||
Accrued management fee | 49,396 | |||
Collateral on securities loaned | 3,127,225 | |||
Total Liabilities | 3,510,714 | |||
Net Assets | $ | 130,194,918 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 93,752,251 | ||
Total accumulated earnings (loss) | 36,442,667 | |||
Net Assets | $ | 130,194,918 | ||
Net Asset Value , offering price and redemption price per share ($130,194,918 ÷ 9,848,753 shares) | $ | 13.22 |
Statement of Operations | ||||
Six months ended May 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 440,765 | ||
Income from Fidelity Central Funds (including $6,327 from security lending) | 70,757 | |||
Total Income | 511,522 | |||
Expenses | ||||
Management fee | $ | 294,812 | ||
Independent trustees' fees and expenses | 416 | |||
Total expenses before reductions | 295,228 | |||
Expense reductions | (46) | |||
Total expenses after reductions | 295,182 | |||
Net Investment income (loss) | 216,340 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,861,902 | |||
Total net realized gain (loss) | 2,861,902 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (3,786,905) | |||
Net gain (loss) | (925,003) | |||
Net increase (decrease) in net assets resulting from operations | $ | (708,663) |
Statement of Changes in Net Assets | ||||
Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 216,340 | $ | 294,767 |
Net realized gain (loss) | 2,861,902 | (9,951,615) | ||
Change in net unrealized appreciation (depreciation) | (3,786,905) | (23,147,836) | ||
Net increase (decrease) in net assets resulting from operations | (708,663) | (32,804,684) | ||
Distributions to shareholders | (324,034) | (34,673,946) | ||
Share transactions | ||||
Proceeds from sales of shares | 10,880,260 | 35,472,984 | ||
Reinvestment of distributions | 324,034 | 34,673,946 | ||
Cost of shares redeemed | (11,306,149) | (28,706,740) | ||
Net increase (decrease) in net assets resulting from share transactions | (101,855) | 41,440,190 | ||
Total increase (decrease) in net assets | (1,134,552) | (26,038,440) | ||
Net Assets | ||||
Beginning of period | 131,329,470 | 157,367,910 | ||
End of period | $ | 130,194,918 | $ | 131,329,470 |
Other Information | ||||
Shares | ||||
Sold | 822,468 | 2,415,188 | ||
Issued in reinvestment of distributions | 26,069 | 2,051,713 | ||
Redeemed | (858,260) | (2,139,490) | ||
Net increase (decrease) | (9,723) | 2,327,411 | ||
Fidelity® Growth Strategies K6 Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 13.32 | $ | 20.90 | $ | 17.06 | $ | 13.69 | $ | 11.21 | $ | 10.95 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .02 | .03 | (.01) | .04 C | .06 D | .09 E | ||||||
Net realized and unrealized gain (loss) | (.09) | (3.21) | 4.29 | 3.40 | 2.51 | .20 | ||||||
Total from investment operations | (.07) | (3.18) | 4.28 | 3.44 | 2.57 | .29 | ||||||
Distributions from net investment income | (.03) | - | (.02) | (.07) | (.09) | (.03) | ||||||
Distributions from net realized gain | - | (4.40) | (.42) | - | - | - | ||||||
Total distributions | (.03) | (4.40) | (.44) | (.07) | (.09) | (.03) | ||||||
Net asset value, end of period | $ | 13.22 | $ | 13.32 | $ | 20.90 | $ | 17.06 | $ | 13.69 | $ | 11.21 |
Total Return F,G | (.49)% | (19.67)% | 25.64% | 25.24% | 23.18% | 2.68% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .45% J | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of fee waivers, if any | .45% J | .45% | .45% | .45% | .45% | .45% | ||||||
Expenses net of all reductions | .45% J | .45% | .45% | .45% | .45% | .45% | ||||||
Net investment income (loss) | .33% J | .22% | (.06)% | .25% C | .49% D | .76% E | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 130,195 | $ | 131,329 | $ | 157,368 | $ | 182,192 | $ | 165,691 | $ | 132,993 |
Portfolio turnover rate K | 72% J,L | 78% L | 51% | 73% | 66% L | 51% L |
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 | $44,847,923 |
Gross unrealized depreciation | (1,514,540) |
Net unrealized appreciation (depreciation) | $43,333,383 |
Tax cost | $90,083,922 |
Short-term | $(9,927,305) |
Total capital loss carryforward | $(9,927,305) |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies K6 Fund | 47,002,708 | 45,928,743 |
Shares | Total Proceeds ($) | |
Fidelity Growth Strategies K6 Fund | 57,451 | 734,795 |
Shares | Total Proceeds ($) | |
Fidelity Growth Strategies K6 Fund | 324,690 | 4,286,560 |
Amount | |
Fidelity Growth Strategies K6 Fund | $677 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies K6 Fund | 1,431,404 | 1,153,685 | 38,403 |
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 | $695 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Growth Strategies K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 995.10 | $ 2.24 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.69 | $ 2.27 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
onsemi | 3.1 | |
AutoZone, Inc. | 3.0 | |
Synopsys, Inc. | 2.9 | |
Mettler-Toledo International, Inc. | 2.7 | |
DexCom, Inc. | 2.4 | |
Copart, Inc. | 2.4 | |
Cadence Design Systems, Inc. | 2.3 | |
ResMed, Inc. | 2.3 | |
MSCI, Inc. | 2.3 | |
Old Dominion Freight Lines, Inc. | 2.1 | |
25.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 23.9 | |
Industrials | 22.3 | |
Health Care | 17.2 | |
Consumer Discretionary | 13.0 | |
Financials | 8.2 | |
Energy | 4.6 | |
Consumer Staples | 3.2 | |
Communication Services | 3.1 | |
Materials | 1.2 | |
Real Estate | 1.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.8% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 3.1% | |||
Interactive Media & Services - 1.1% | |||
Pinterest, Inc. Class A (a) | 1,282,300 | 30,698 | |
Media - 2.0% | |||
The Trade Desk, Inc. (a) | 827,000 | 57,956 | |
TOTAL COMMUNICATION SERVICES | 88,654 | ||
CONSUMER DISCRETIONARY - 13.0% | |||
Automobile Components - 0.6% | |||
Atmus Filtration Technologies, Inc. | 144,500 | 2,997 | |
Mobileye Global, Inc. (b) | 300,000 | 13,371 | |
16,368 | |||
Distributors - 1.5% | |||
Genuine Parts Co. | 132,765 | 19,773 | |
Pool Corp. (b) | 76,075 | 24,057 | |
43,830 | |||
Diversified Consumer Services - 0.5% | |||
Duolingo, Inc. (a) | 96,125 | 14,377 | |
Hotels, Restaurants & Leisure - 3.2% | |||
Chipotle Mexican Grill, Inc. (a) | 10,530 | 21,865 | |
Choice Hotels International, Inc. (b) | 172,459 | 19,572 | |
Churchill Downs, Inc. | 214,000 | 29,065 | |
Domino's Pizza, Inc. | 73,000 | 21,159 | |
91,661 | |||
Household Durables - 0.6% | |||
NVR, Inc. (a) | 2,342 | 13,008 | |
PulteGroup, Inc. | 70,000 | 4,626 | |
17,634 | |||
Specialty Retail - 6.5% | |||
AutoZone, Inc. (a) | 37,000 | 88,313 | |
Foot Locker, Inc. | 282,200 | 7,145 | |
Murphy U.S.A., Inc. | 2,600 | 719 | |
O'Reilly Automotive, Inc. (a) | 66,383 | 59,964 | |
Tractor Supply Co. (b) | 160,800 | 33,702 | |
189,843 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 4,687 | 2,226 | |
TOTAL CONSUMER DISCRETIONARY | 375,939 | ||
CONSUMER STAPLES - 3.2% | |||
Beverages - 0.6% | |||
Brown-Forman Corp. Class B (non-vtg.) | 214,622 | 13,257 | |
Celsius Holdings, Inc. (a) | 38,800 | 4,871 | |
18,128 | |||
Consumer Staples Distribution & Retail - 0.3% | |||
Dollar General Corp. | 38,590 | 7,760 | |
Food Products - 2.1% | |||
Bunge Ltd. | 157,959 | 14,633 | |
Darling Ingredients, Inc. (a) | 246,936 | 15,651 | |
Lamb Weston Holdings, Inc. | 283,000 | 31,470 | |
61,754 | |||
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 21,261 | 3,913 | |
Kenvue, Inc. | 2,986 | 75 | |
3,988 | |||
TOTAL CONSUMER STAPLES | 91,630 | ||
ENERGY - 4.6% | |||
Oil, Gas & Consumable Fuels - 4.6% | |||
Cheniere Energy, Inc. | 269,600 | 37,682 | |
Hess Corp. | 223,742 | 28,341 | |
Marathon Petroleum Corp. | 47,821 | 5,017 | |
Occidental Petroleum Corp. | 170,000 | 9,802 | |
PDC Energy, Inc. | 552,642 | 37,922 | |
Valero Energy Corp. | 143,800 | 15,392 | |
134,156 | |||
FINANCIALS - 8.2% | |||
Capital Markets - 6.1% | |||
Ameriprise Financial, Inc. | 146,003 | 43,578 | |
LPL Financial | 85,200 | 16,595 | |
MarketAxess Holdings, Inc. | 67,344 | 18,345 | |
Moody's Corp. | 16,995 | 5,385 | |
MSCI, Inc. | 139,882 | 65,819 | |
State Street Corp. | 243,100 | 16,536 | |
T. Rowe Price Group, Inc. | 78,080 | 8,367 | |
Tradeweb Markets, Inc. Class A | 38,831 | 2,600 | |
177,225 | |||
Financial Services - 0.1% | |||
Adyen BV (a)(c) | 1,392 | 2,280 | |
Insurance - 2.0% | |||
Arthur J. Gallagher & Co. | 146,962 | 29,441 | |
Everest Re Group Ltd. | 50,697 | 17,238 | |
Globe Life, Inc. | 69,400 | 7,161 | |
Hartford Financial Services Group, Inc. | 55,300 | 3,789 | |
57,629 | |||
TOTAL FINANCIALS | 237,134 | ||
HEALTH CARE - 17.2% | |||
Health Care Equipment & Supplies - 8.7% | |||
Baxter International, Inc. | 425,000 | 17,306 | |
DexCom, Inc. (a) | 602,100 | 70,602 | |
Edwards Lifesciences Corp. (a) | 82,854 | 6,979 | |
Haemonetics Corp. (a) | 36,900 | 3,122 | |
IDEXX Laboratories, Inc. (a) | 15,996 | 7,434 | |
Insulet Corp. (a) | 159,500 | 43,743 | |
Intuitive Surgical, Inc. (a) | 17,969 | 5,532 | |
Penumbra, Inc. (a) | 25,500 | 7,837 | |
ResMed, Inc. | 313,632 | 66,110 | |
Shockwave Medical, Inc. (a) | 84,700 | 23,300 | |
251,965 | |||
Health Care Providers & Services - 2.2% | |||
Laboratory Corp. of America Holdings | 51,486 | 10,942 | |
McKesson Corp. | 74,000 | 28,922 | |
Molina Healthcare, Inc. (a) | 83,000 | 22,734 | |
62,598 | |||
Health Care Technology - 0.9% | |||
Doximity, Inc. (a)(b) | 349,300 | 10,713 | |
Veeva Systems, Inc. Class A (a) | 99,974 | 16,566 | |
27,279 | |||
Life Sciences Tools & Services - 5.4% | |||
Agilent Technologies, Inc. | 28,200 | 3,262 | |
Charles River Laboratories International, Inc. (a) | 162,700 | 31,463 | |
Mettler-Toledo International, Inc. (a) | 59,700 | 78,916 | |
West Pharmaceutical Services, Inc. | 132,558 | 44,358 | |
157,999 | |||
TOTAL HEALTH CARE | 499,841 | ||
INDUSTRIALS - 22.3% | |||
Aerospace & Defense - 1.1% | |||
TransDigm Group, Inc. | 43,147 | 33,381 | |
Building Products - 2.7% | |||
Builders FirstSource, Inc. (a) | 121,500 | 14,088 | |
Carrier Global Corp. | 750,000 | 30,675 | |
Trane Technologies PLC | 202,600 | 33,070 | |
77,833 | |||
Commercial Services & Supplies - 4.9% | |||
Cintas Corp. | 121,568 | 57,397 | |
Copart, Inc. (a) | 782,697 | 68,556 | |
GFL Environmental, Inc. | 343,123 | 12,400 | |
Tetra Tech, Inc. | 31,992 | 4,398 | |
142,751 | |||
Construction & Engineering - 1.5% | |||
EMCOR Group, Inc. | 39,050 | 6,437 | |
Quanta Services, Inc. | 218,200 | 38,748 | |
45,185 | |||
Electrical Equipment - 1.7% | |||
AMETEK, Inc. | 190,850 | 27,687 | |
Atkore, Inc. (a) | 177,954 | 20,780 | |
48,467 | |||
Ground Transportation - 2.2% | |||
Lyft, Inc. (a) | 234,028 | 2,111 | |
Old Dominion Freight Lines, Inc. | 196,834 | 61,105 | |
63,216 | |||
Machinery - 4.2% | |||
Cummins, Inc. | 82,700 | 16,905 | |
IDEX Corp. | 76,680 | 15,272 | |
Otis Worldwide Corp. | 212,545 | 16,899 | |
PACCAR, Inc. | 234,800 | 16,150 | |
Parker Hannifin Corp. | 94,000 | 30,121 | |
Toro Co. | 263,038 | 25,733 | |
121,080 | |||
Professional Services - 2.2% | |||
Booz Allen Hamilton Holding Corp. Class A | 82,930 | 8,341 | |
Paychex, Inc. | 206,900 | 21,710 | |
Paycom Software, Inc. | 89,800 | 25,156 | |
SS&C Technologies Holdings, Inc. | 136,000 | 7,475 | |
62,682 | |||
Trading Companies & Distributors - 1.8% | |||
W.W. Grainger, Inc. | 80,000 | 51,922 | |
TOTAL INDUSTRIALS | 646,517 | ||
INFORMATION TECHNOLOGY - 23.9% | |||
Communications Equipment - 1.6% | |||
Arista Networks, Inc. (a) | 282,400 | 46,974 | |
Electronic Equipment, Instruments & Components - 2.2% | |||
Amphenol Corp. Class A | 530,000 | 39,989 | |
Keysight Technologies, Inc. (a) | 145,000 | 23,461 | |
63,450 | |||
IT Services - 1.6% | |||
EPAM Systems, Inc. (a) | 93,300 | 23,943 | |
Twilio, Inc. Class A (a) | 322,000 | 22,418 | |
46,361 | |||
Semiconductors & Semiconductor Equipment - 7.1% | |||
Broadcom, Inc. | 11,997 | 9,693 | |
Enphase Energy, Inc. (a) | 91,100 | 15,840 | |
KLA Corp. | 19,000 | 8,417 | |
Lam Research Corp. | 11,574 | 7,138 | |
Lattice Semiconductor Corp. (a) | 351,709 | 28,597 | |
Monolithic Power Systems, Inc. | 74,300 | 36,400 | |
NXP Semiconductors NV | 54,386 | 9,741 | |
onsemi (a) | 1,071,815 | 89,604 | |
205,430 | |||
Software - 11.4% | |||
Atlassian Corp. PLC (a) | 33,991 | 6,145 | |
Autodesk, Inc. (a) | 40,989 | 8,173 | |
Cadence Design Systems, Inc. (a) | 293,856 | 67,854 | |
DocuSign, Inc. (a) | 295,900 | 16,689 | |
Dynatrace, Inc. (a) | 500,000 | 25,495 | |
Fortinet, Inc. (a) | 862,300 | 58,921 | |
HubSpot, Inc. (a) | 44,005 | 22,794 | |
Intuit, Inc. | 17,995 | 7,542 | |
Roper Technologies, Inc. | 19,666 | 8,933 | |
Synopsys, Inc. (a) | 183,400 | 83,440 | |
Zoom Video Communications, Inc. Class A (a) | 373,900 | 25,100 | |
331,086 | |||
TOTAL INFORMATION TECHNOLOGY | 693,301 | ||
MATERIALS - 1.2% | |||
Metals & Mining - 1.2% | |||
Steel Dynamics, Inc. | 376,000 | 34,554 | |
REAL ESTATE - 1.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.1% | |||
SBA Communications Corp. Class A | 19,466 | 4,317 | |
VICI Properties, Inc. | 847,600 | 26,216 | |
30,533 | |||
TOTAL COMMON STOCKS (Cost $1,816,257) | 2,832,259 | ||
Money Market Funds - 4.5% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (d) | 67,687,508 | 67,701 | |
Fidelity Securities Lending Cash Central Fund 5.14% (d)(e) | 63,276,694 | 63,283 | |
TOTAL MONEY MARKET FUNDS (Cost $130,983) | 130,984 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% (Cost $1,947,240) | 2,963,243 |
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (66,154) |
NET ASSETS - 100.0% | 2,897,089 |
(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 $2,280,000 or 0.1% of net assets. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.14% | 63,334 | 456,165 | 451,798 | 1,336 | - | - | 67,701 | 0.2% |
Fidelity Securities Lending Cash Central Fund 5.14% | 30,126 | 432,841 | 399,684 | 164 | - | - | 63,283 | 0.2% |
Total | 93,460 | 889,006 | 851,482 | 1,500 | - | - | 130,984 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 88,654 | 88,654 | - | - |
Consumer Discretionary | 375,939 | 375,939 | - | - |
Consumer Staples | 91,630 | 91,630 | - | - |
Energy | 134,156 | 134,156 | - | - |
Financials | 237,134 | 234,854 | 2,280 | - |
Health Care | 499,841 | 499,841 | - | - |
Industrials | 646,517 | 646,517 | - | - |
Information Technology | 693,301 | 693,301 | - | - |
Materials | 34,554 | 34,554 | - | - |
Real Estate | 30,533 | 30,533 | - | - |
Money Market Funds | 130,984 | 130,984 | - | - |
Total Investments in Securities: | 2,963,243 | 2,960,963 | 2,280 | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | May 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $60,508) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,816,257) | $ | 2,832,259 | ||
Fidelity Central Funds (cost $130,983) | 130,984 | |||
Total Investment in Securities (cost $1,947,240) | $ | 2,963,243 | ||
Receivable for investments sold | 4,101 | |||
Receivable for fund shares sold | 1,262 | |||
Dividends receivable | 1,652 | |||
Distributions receivable from Fidelity Central Funds | 298 | |||
Other receivables | 40 | |||
Total assets | 2,970,596 | |||
Liabilities | ||||
Payable for investments purchased | $ | 6,307 | ||
Payable for fund shares redeemed | 2,087 | |||
Accrued management fee | 1,351 | |||
Other affiliated payables | 432 | |||
Other payables and accrued expenses | 48 | |||
Collateral on securities loaned | 63,282 | |||
Total Liabilities | 73,507 | |||
Net Assets | $ | 2,897,089 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,982,140 | ||
Total accumulated earnings (loss) | 914,949 | |||
Net Assets | $ | 2,897,089 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Strategies : | ||||
Net Asset Value , offering price and redemption price per share ($2,704,701 ÷ 54,563 shares) | $ | 49.57 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($192,388 ÷ 3,830 shares) | $ | 50.23 |
Statement of Operations | ||||
Amounts in thousands | Six months ended May 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 9,826 | ||
Income from Fidelity Central Funds (including $164 from security lending) | 1,500 | |||
Total Income | 11,326 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 7,635 | ||
Performance adjustment | 164 | |||
Transfer agent fees | 2,213 | |||
Accounting fees | 377 | |||
Custodian fees and expenses | 16 | |||
Independent trustees' fees and expenses | 9 | |||
Registration fees | 43 | |||
Audit | 41 | |||
Legal | 3 | |||
Miscellaneous | 6 | |||
Total expenses before reductions | 10,507 | |||
Expense reductions | (68) | |||
Total expenses after reductions | 10,439 | |||
Net Investment income (loss) | 887 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 70,964 | |||
Redemptions in-kind | 305 | |||
Total net realized gain (loss) | 71,269 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (90,958) | |||
Net gain (loss) | (19,689) | |||
Net increase (decrease) in net assets resulting from operations | $ | (18,802) |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 887 | $ | (4,490) |
Net realized gain (loss) | 71,269 | (154,437) | ||
Change in net unrealized appreciation (depreciation) | (90,958) | (557,710) | ||
Net increase (decrease) in net assets resulting from operations | (18,802) | (716,637) | ||
Distributions to shareholders | - | (458,304) | ||
Share transactions - net increase (decrease) | (54,951) | 513,523 | ||
Total increase (decrease) in net assets | (73,753) | (661,418) | ||
Net Assets | ||||
Beginning of period | 2,970,842 | 3,632,260 | ||
End of period | $ | 2,897,089 | $ | 2,970,842 |
Fidelity® Growth Strategies Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 49.87 | $ | 71.14 | $ | 61.57 | $ | 50.98 | $ | 41.90 | $ | 40.96 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .01 | (.08) | (.15) | .04 C | .30 | .25 D | ||||||
Net realized and unrealized gain (loss) | (.31) | (12.20) | 14.72 | 12.31 | 9.13 | .87 | ||||||
Total from investment operations | (.30) | (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 | $ | 49.57 | $ | 49.87 | $ | 71.14 | $ | 61.57 | $ | 50.98 | $ | 41.90 |
Total Return F,G | (.60)% | (19.98)% | 25.31% | 25.02% | 22.76% | 2.74% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .73% J | .83% | .63% | .63% | .56% | .59% | ||||||
Expenses net of fee waivers, if any | .73% J | .83% | .63% | .63% | .56% | .59% | ||||||
Expenses net of all reductions | .73% J | .83% | .63% | .63% | .55% | .59% | ||||||
Net investment income (loss) | .05% J | (.16)% | (.23)% | .07% C | .67% | .59% D | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 2,705 | $ | 2,773 | $ | 3,381 | $ | 3,011 | $ | 2,860 | $ | 2,349 |
Portfolio turnover rate K | 68% J,L | 74% L | 49% | 67% | 66% L | 43% L |
Fidelity® Growth Strategies Fund Class K |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 50.50 | $ | 71.85 | $ | 62.08 | $ | 51.38 | $ | 42.23 | $ | 41.29 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .04 | (.02) | (.08) | .10 C | .36 | .31 D | ||||||
Net realized and unrealized gain (loss) | (.31) | (12.34) | 14.85 | 12.42 | 9.20 | .86 | ||||||
Total from investment operations | (.27) | (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 | $ | 50.23 | $ | 50.50 | $ | 71.85 | $ | 62.08 | $ | 51.38 | $ | 42.23 |
Total Return F,G | (.53)% | (19.89)% | 25.44% | 25.17% | 22.94% | 2.84% | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .61% J | .72% | .52% | .52% | .43% | .46% | ||||||
Expenses net of fee waivers, if any | .61% J | .71% | .52% | .52% | .43% | .46% | ||||||
Expenses net of all reductions | .61% J | .71% | .52% | .51% | .43% | .46% | ||||||
Net investment income (loss) | .17% J | (.05)% | (.13)% | .19% C | .79% | .72% D | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 192 | $ | 198 | $ | 251 | $ | 236 | $ | 236 | $ | 205 |
Portfolio turnover rate K | 68% J,L | 74% L | 49% | 67% | 66% L | 43% L |
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 | $13 |
Gross unrealized appreciation | $1,047,770 |
Gross unrealized depreciation | (31,789) |
Net unrealized appreciation (depreciation) | $1,015,981 |
Tax cost | $1,947,262 |
Short-term | $(169,462) |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies Fund | 966,522 | 985,538 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Strategies Fund | 15 | 305 | 735 | Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Strategies Fund | 377 | 15,128 | 25,077 | Growth Strategies, Class K |
Amount | % of Class-Level Average Net Assets A | |
Growth Strategies | $2,173 | .16 |
Class K | 40 | .04 |
$2,213 |
% of Average Net Assets | |
Fidelity Growth Strategies Fund | .03 |
Amount | |
Fidelity Growth Strategies Fund | $15 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies Fund | 33,091 | 22,190 | 1,824 |
Amount | |
Fidelity Growth Strategies Fund | $3 |
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 | $18 | $- | $- |
Six months ended May 31, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Strategies Fund | ||
Distributions to shareholders | ||
Growth Strategies | $- | $426,994 |
Class K | - | 31,310 |
Total | $- | $458,304 |
Shares | Shares | Dollars | Dollars | |
Six months ended May 31, 2023 | Year ended November 30, 2022 | Six months ended May 31, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Strategies Fund | ||||
Growth Strategies | ||||
Shares sold | 2,369 | 9,491 | $116,577 | $484,754 |
Reinvestment of distributions | - | 6,391 | - | 406,035 |
Shares redeemed | (3,410) | (7,802) | (167,167) | (404,797) |
Net increase (decrease) | (1,041) | 8,080 | $(50,590) | $485,992 |
Class K | ||||
Shares sold | 418 | 808 | $21,111 | $40,950 |
Reinvestment of distributions | - | 487 | - | 31,310 |
Shares redeemed | (506) | (876) | (25,472) | (44,729) |
Net increase (decrease) | (88) | 419 | $(4,361) | $27,531 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Growth Strategies Fund | ||||||||||
Fidelity® Growth Strategies Fund | .73% | |||||||||
Actual | $ 1,000 | $ 994.00 | $ 3.63 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.29 | $ 3.68 | |||||||
Class K | .61% | |||||||||
Actual | $ 1,000 | $ 994.70 | $ 3.03 | |||||||
Hypothetical- B | $ 1,000 | $ 1,021.89 | $ 3.07 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 14.1 | |
Apple, Inc. | 11.4 | |
Microsoft Corp. | 7.2 | |
Amazon.com, Inc. | 5.8 | |
Alphabet, Inc. Class A | 4.7 | |
lululemon athletica, Inc. | 3.5 | |
Alphabet, Inc. Class C | 2.4 | |
Salesforce, Inc. | 1.5 | |
Tesla, Inc. | 1.3 | |
Oracle Corp. | 1.1 | |
53.0 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 44.9 | |
Consumer Discretionary | 17.5 | |
Health Care | 14.6 | |
Communication Services | 9.2 | |
Industrials | 4.6 | |
Consumer Staples | 3.0 | |
Financials | 2.9 | |
Energy | 1.4 | |
Materials | 0.8 | |
Real Estate | 0.1 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.0% | |||
Entertainment - 0.8% | |||
Electronic Arts, Inc. | 3,954 | 506,112 | |
Netflix, Inc. (a) | 224,229 | 88,622,028 | |
Roblox Corp. (a) | 3,300 | 138,138 | |
Roku, Inc. Class A (a) | 102,576 | 5,969,923 | |
The Walt Disney Co. (a) | 52,976 | 4,659,769 | |
99,895,970 | |||
Interactive Media & Services - 7.8% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,973,180 | 611,054,627 | |
Class C (a) | 2,562,460 | 316,130,690 | |
Epic Games, Inc. (a)(b)(c) | 11,800 | 8,306,728 | |
IAC, Inc. (a) | 9,900 | 552,816 | |
Meta Platforms, Inc. Class A (a) | 263,130 | 69,655,774 | |
Snap, Inc. Class A (a) | 550,281 | 5,612,866 | |
1,011,313,501 | |||
Media - 0.0% | |||
The Trade Desk, Inc. (a) | 8,800 | 616,704 | |
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. (a) | 390,553 | 53,603,399 | |
TOTAL COMMUNICATION SERVICES | 1,165,429,574 | ||
CONSUMER DISCRETIONARY - 17.2% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (d) | 77,100 | 3,436,347 | |
Automobiles - 1.5% | |||
Neutron Holdings, Inc. (a)(b)(c) | 438,358 | 11,222 | |
Rad Power Bikes, Inc. (a)(b)(c) | 249,183 | 523,284 | |
Rivian Automotive, Inc. (a)(d) | 1,733,319 | 25,531,789 | |
Tesla, Inc. (a) | 845,755 | 172,474,817 | |
198,541,112 | |||
Broadline Retail - 6.2% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 96,300 | 7,660,665 | |
Amazon.com, Inc. (a) | 6,254,460 | 754,162,787 | |
Etsy, Inc. (a) | 23,581 | 1,911,240 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 816,387 | 44,999,251 | |
PDD Holdings, Inc. ADR (a) | 21,100 | 1,378,252 | |
Vipshop Holdings Ltd. ADR (a) | 266,300 | 3,813,416 | |
813,925,611 | |||
Hotels, Restaurants & Leisure - 1.3% | |||
Airbnb, Inc. Class A (a) | 51,800 | 5,686,086 | |
Booking Holdings, Inc. (a) | 22,072 | 55,373,571 | |
Chipotle Mexican Grill, Inc. (a) | 10,340 | 21,470,907 | |
Dutch Bros, Inc. (a)(d) | 32,800 | 930,208 | |
Expedia, Inc. (a) | 61,900 | 5,924,449 | |
Hyatt Hotels Corp. Class A (d) | 6,083 | 653,801 | |
Marriott International, Inc. Class A | 91,650 | 15,377,954 | |
McDonald's Corp. | 4,325 | 1,233,101 | |
Penn Entertainment, Inc. (a) | 776,000 | 19,431,040 | |
Shake Shack, Inc. Class A (a)(d) | 26,336 | 1,742,653 | |
Sonder Holdings, Inc.: | |||
rights (a)(c) | 14,240 | 997 | |
rights (a)(c) | 14,240 | 712 | |
rights (a)(c) | 14,239 | 570 | |
rights (a)(c) | 14,239 | 427 | |
rights (a)(c) | 14,238 | 285 | |
rights (a)(c) | 14,238 | 285 | |
Starbucks Corp. | 131,753 | 12,864,363 | |
Sweetgreen, Inc. Class A (a) | 474,051 | 4,517,706 | |
Trip.com Group Ltd. ADR (a) | 186,800 | 5,899,144 | |
Yum China Holdings, Inc. | 158,012 | 8,921,358 | |
Zomato Ltd. (a) | 3,744,500 | 3,126,832 | |
163,156,449 | |||
Household Durables - 0.4% | |||
Lennar Corp. Class A | 379,219 | 40,621,939 | |
Purple Innovation, Inc. (d) | 1,119,087 | 3,872,041 | |
Toll Brothers, Inc. | 26,300 | 1,780,510 | |
46,274,490 | |||
Leisure Products - 0.0% | |||
Peloton Interactive, Inc. Class A (a) | 32,142 | 233,994 | |
Specialty Retail - 2.3% | |||
Fanatics, Inc. Class A (a)(b)(c) | 180,405 | 12,998,180 | |
Farfetch Ltd. Class A (a)(d) | 142,100 | 700,553 | |
Five Below, Inc. (a) | 49,300 | 8,505,236 | |
Floor & Decor Holdings, Inc. Class A (a)(d) | 65,800 | 6,008,198 | |
Lowe's Companies, Inc. | 310,423 | 62,435,378 | |
Revolve Group, Inc. (a) | 470,005 | 7,153,476 | |
RH (a) | 28,629 | 7,013,532 | |
Ross Stores, Inc. | 84,300 | 8,735,166 | |
RumbleON, Inc. Class B (a) | 190,500 | 2,080,260 | |
The Home Depot, Inc. | 248,477 | 70,430,806 | |
TJX Companies, Inc. | 984,272 | 75,582,247 | |
Tractor Supply Co. | 1,400 | 293,426 | |
Wayfair LLC Class A (a) | 925,580 | 37,319,386 | |
299,255,844 | |||
Textiles, Apparel & Luxury Goods - 5.5% | |||
Canada Goose Holdings, Inc. (a)(d) | 511,015 | 8,134,832 | |
Crocs, Inc. (a) | 125,600 | 14,102,368 | |
Deckers Outdoor Corp. (a) | 157,770 | 74,940,750 | |
Li Ning Co. Ltd. | 522,700 | 2,803,594 | |
lululemon athletica, Inc. (a) | 1,376,458 | 456,887,704 | |
NIKE, Inc. Class B | 304,154 | 32,015,250 | |
On Holding AG (a) | 1,438,706 | 39,492,480 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,672,962 | 85,940,058 | |
Tory Burch LLC (a)(b)(c)(e) | 248,840 | 7,218,848 | |
721,535,884 | |||
TOTAL CONSUMER DISCRETIONARY | 2,246,359,731 | ||
CONSUMER STAPLES - 3.0% | |||
Beverages - 1.2% | |||
Celsius Holdings, Inc. (a) | 103,600 | 13,004,908 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 12,000 | 2,915,640 | |
Keurig Dr. Pepper, Inc. | 463,871 | 14,435,666 | |
Monster Beverage Corp. | 634,270 | 37,180,907 | |
PepsiCo, Inc. | 174,764 | 31,868,215 | |
The Coca-Cola Co. | 1,035,507 | 61,778,348 | |
161,183,684 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Costco Wholesale Corp. | 89,344 | 45,704,817 | |
Dollar General Corp. | 88,040 | 17,703,964 | |
Dollar Tree, Inc. (a) | 81,244 | 10,958,191 | |
Kroger Co. | 164,240 | 7,444,999 | |
Ocado Group PLC (a) | 25,320 | 116,223 | |
Performance Food Group Co. (a) | 9,768 | 540,073 | |
Sysco Corp. | 107,200 | 7,498,640 | |
Target Corp. | 58,113 | 7,608,735 | |
Walmart, Inc. | 84,300 | 12,381,141 | |
109,956,783 | |||
Food Products - 0.3% | |||
Archer Daniels Midland Co. | 1,800 | 127,170 | |
Bunge Ltd. | 123,454 | 11,436,779 | |
Kellogg Co. | 88,300 | 5,895,791 | |
Mondelez International, Inc. | 74,617 | 5,477,634 | |
The Hershey Co. | 54,600 | 14,179,620 | |
The Real Good Food Co. LLC: | |||
Class B (a)(c) | 131,479 | 1 | |
Class B unit (f) | 131,479 | 464,121 | |
The Real Good Food Co., Inc. (a) | 15,500 | 54,715 | |
37,635,831 | |||
Household Products - 0.3% | |||
Church & Dwight Co., Inc. | 41,921 | 3,875,596 | |
Colgate-Palmolive Co. | 72,891 | 5,421,633 | |
Procter & Gamble Co. | 177,778 | 25,333,365 | |
The Clorox Co. | 2,300 | 363,814 | |
34,994,408 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 84,800 | 2,127,632 | |
Olaplex Holdings, Inc. (a) | 570,100 | 1,801,516 | |
The Beauty Health Co. (a) | 155,898 | 1,253,420 | |
The Beauty Health Co. (a)(b) | 553,828 | 4,452,777 | |
9,635,345 | |||
Tobacco - 0.3% | |||
JUUL Labs, Inc. Class A (a)(b)(c) | 13,297 | 125,657 | |
Philip Morris International, Inc. | 419,000 | 37,714,190 | |
37,839,847 | |||
TOTAL CONSUMER STAPLES | 391,245,898 | ||
ENERGY - 1.4% | |||
Energy Equipment & Services - 0.2% | |||
Baker Hughes Co. Class A | 238,200 | 6,490,950 | |
Halliburton Co. | 622,500 | 17,834,625 | |
Schlumberger Ltd. | 50,000 | 2,141,500 | |
26,467,075 | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Cameco Corp. (d) | 499,400 | 13,903,296 | |
Devon Energy Corp. | 22,400 | 1,032,640 | |
EOG Resources, Inc. | 111,400 | 11,952,106 | |
EQT Corp. | 94,200 | 3,275,334 | |
Exxon Mobil Corp. | 7,000 | 715,260 | |
Hess Corp. | 640,806 | 81,170,896 | |
Range Resources Corp. | 834,800 | 22,848,476 | |
Reliance Industries Ltd. | 654,259 | 19,542,318 | |
Valero Energy Corp. | 39,600 | 4,238,784 | |
158,679,110 | |||
TOTAL ENERGY | 185,146,185 | ||
FINANCIALS - 2.7% | |||
Banks - 0.4% | |||
Bank of America Corp. | 647,217 | 17,986,160 | |
HDFC Bank Ltd. sponsored ADR | 300,422 | 19,347,177 | |
JPMorgan Chase & Co. | 87,123 | 11,823,462 | |
Wells Fargo & Co. | 42,000 | 1,672,020 | |
50,828,819 | |||
Capital Markets - 0.3% | |||
BlackRock, Inc. Class A | 30,997 | 20,382,077 | |
Charles Schwab Corp. | 250,551 | 13,201,532 | |
33,583,609 | |||
Financial Services - 2.0% | |||
Ant International Co. Ltd. Class C (a)(b)(c) | 617,086 | 950,312 | |
Block, Inc. Class A (a) | 38,985 | 2,354,304 | |
MasterCard, Inc. Class A | 281,449 | 102,734,514 | |
PayPal Holdings, Inc. (a) | 99,727 | 6,182,077 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | 16,498 | 42,565 | |
Toast, Inc. (a)(d) | 1,350,800 | 28,326,276 | |
Visa, Inc. Class A | 575,612 | 127,227,520 | |
267,817,568 | |||
TOTAL FINANCIALS | 352,229,996 | ||
HEALTH CARE - 13.9% | |||
Biotechnology - 7.6% | |||
4D Pharma PLC (a)(c)(d) | 596,200 | 123,558 | |
AbbVie, Inc. | 92,349 | 12,740,468 | |
Absci Corp. (a) | 974,272 | 1,851,117 | |
ACADIA Pharmaceuticals, Inc. (a) | 464,971 | 10,926,819 | |
Acelyrin, Inc. (a) | 110,300 | 1,996,430 | |
Akouos, Inc. (CVR) (c) | 200,563 | 154,434 | |
Alector, Inc. (a) | 497,376 | 3,700,477 | |
Allovir, Inc. (a)(d) | 341,410 | 1,287,116 | |
Alnylam Pharmaceuticals, Inc. (a) | 481,231 | 89,032,547 | |
Amgen, Inc. | 88,804 | 19,594,603 | |
Apellis Pharmaceuticals, Inc. (a) | 48,500 | 4,163,725 | |
Arcutis Biotherapeutics, Inc. (a) | 114,600 | 860,646 | |
Argenx SE ADR (a) | 208,860 | 81,183,882 | |
Arrowhead Pharmaceuticals, Inc. (a) | 29,259 | 1,006,802 | |
Ars Pharmaceuticals, Inc. (a) | 173,284 | 1,206,057 | |
Ascendis Pharma A/S sponsored ADR (a) | 9,489 | 825,258 | |
aTyr Pharma, Inc. (a) | 534,987 | 1,214,420 | |
Avidity Biosciences, Inc. (a) | 335,600 | 3,564,072 | |
Axcella Health, Inc. (a) | 949,347 | 371,954 | |
Beam Therapeutics, Inc. (a)(d) | 191,900 | 6,121,610 | |
BeiGene Ltd. ADR (a)(d) | 131,816 | 29,122,109 | |
Biogen, Inc. (a) | 1,242 | 368,141 | |
Biomea Fusion, Inc. (a) | 509,600 | 17,306,016 | |
BioNTech SE ADR | 15,402 | 1,618,442 | |
BioXcel Therapeutics, Inc. (a) | 382,224 | 6,857,099 | |
Calyxt, Inc. (a) | 8,700 | 54,810 | |
Caris Life Sciences, Inc. (b)(c) | 396,011 | 2,217,662 | |
Century Therapeutics, Inc. (a) | 244,000 | 775,920 | |
Cerevel Therapeutics Holdings (a) | 1,663,859 | 54,241,803 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 104,600 | 1 | |
CRISPR Therapeutics AG (a)(d) | 221,500 | 14,184,860 | |
Cyclerion Therapeutics, Inc. (a) | 3,910 | 17,009 | |
Cyclerion Therapeutics, Inc. (a)(b) | 7,527 | 32,742 | |
Day One Biopharmaceuticals, Inc. (a) | 215,600 | 2,867,480 | |
Denali Therapeutics, Inc. (a) | 33,474 | 1,011,584 | |
Deverra Therapeutics, Inc. (a)(c) | 20,487 | 0 | |
Disc Medicine, Inc. rights (a)(c) | 16,600 | 0 | |
EQRx, Inc. (a) | 1,953,149 | 3,437,542 | |
EQRx, Inc.: | |||
rights (a)(c) | 90,566 | 28,075 | |
rights (a)(c) | 38,814 | 7,375 | |
Evelo Biosciences, Inc. (a)(d) | 1,050,216 | 143,354 | |
Foghorn Therapeutics, Inc. (a) | 225,383 | 1,417,659 | |
Generation Bio Co. (a) | 529,042 | 1,851,647 | |
Geron Corp. (a) | 589,600 | 1,927,992 | |
Idorsia Ltd. (a)(d) | 123,094 | 1,007,593 | |
Immunocore Holdings PLC ADR (a) | 70,270 | 3,877,499 | |
ImmunoGen, Inc. (a) | 278,800 | 3,802,832 | |
Immunovant, Inc. (a) | 378,300 | 7,948,083 | |
Inhibrx, Inc. (a)(d) | 129,100 | 3,054,506 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(c) | 7,022 | 0 | |
Invivyd, Inc. (a)(d) | 1,501,117 | 2,702,011 | |
Ionis Pharmaceuticals, Inc. (a) | 2,194,369 | 89,749,692 | |
Janux Therapeutics, Inc. (a) | 73,700 | 856,394 | |
Karuna Therapeutics, Inc. (a) | 403,699 | 91,458,008 | |
Legend Biotech Corp. ADR (a) | 642,200 | 41,209,974 | |
Lexicon Pharmaceuticals, Inc. (a) | 137,922 | 455,143 | |
Lyell Immunopharma, Inc. (a)(d) | 394,200 | 1,257,498 | |
Madrigal Pharmaceuticals, Inc. (a) | 2,300 | 640,343 | |
Magenta Therapeutics, Inc. (c)(g) | 269,190 | 1,205,971 | |
Moderna, Inc. (a) | 198,741 | 25,381,213 | |
Monte Rosa Therapeutics, Inc. (a) | 285,800 | 2,109,204 | |
Moonlake Immunotherapeutics (a)(d) | 1,900 | 51,699 | |
Morphic Holding, Inc. (a) | 386,114 | 22,201,555 | |
Nuvalent, Inc. Class A (a) | 377,325 | 15,885,383 | |
Omega Therapeutics, Inc. (a) | 476,879 | 3,619,512 | |
ORIC Pharmaceuticals, Inc. (a) | 96,908 | 488,416 | |
Poseida Therapeutics, Inc. (a) | 796,559 | 1,808,189 | |
Prothena Corp. PLC (a) | 690,364 | 45,860,881 | |
PTC Therapeutics, Inc. (a) | 233,230 | 9,788,663 | |
RAPT Therapeutics, Inc. (a) | 200,300 | 4,012,009 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 479,500 | 4,205,215 | |
Regeneron Pharmaceuticals, Inc. (a) | 64,821 | 47,679,735 | |
Relay Therapeutics, Inc. (a)(d) | 216,892 | 2,416,177 | |
Roivant Sciences Ltd. (a) | 2,592,028 | 23,561,535 | |
Sage Therapeutics, Inc. (a) | 685,861 | 33,950,120 | |
Sana Biotechnology, Inc. (a)(d) | 361,000 | 2,173,220 | |
Scholar Rock Holding Corp. (a) | 507,934 | 2,956,176 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 44,550 | 69,639 | |
Seres Therapeutics, Inc. (a) | 1,513,600 | 7,492,320 | |
Shattuck Labs, Inc. (a) | 323,200 | 843,552 | |
Sigilon Therapeutics, Inc. (a) | 3,192 | 13,406 | |
SpringWorks Therapeutics, Inc. (b) | 125,200 | 3,085,178 | |
SpringWorks Therapeutics, Inc. (a)(d) | 780,149 | 21,360,480 | |
Synlogic, Inc. (a) | 599,500 | 314,738 | |
Tango Therapeutics, Inc. (a) | 295,756 | 798,541 | |
TG Therapeutics, Inc. (a) | 351,400 | 9,357,782 | |
Tyra Biosciences, Inc. (a) | 20,200 | 292,294 | |
uniQure B.V. (a) | 37,249 | 718,533 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 700,000 | 33,413 | |
Vaxcyte, Inc. (a) | 308,780 | 15,290,786 | |
Vera Therapeutics, Inc. (a) | 152,482 | 1,273,225 | |
Vertex Pharmaceuticals, Inc. (a) | 65,393 | 21,159,213 | |
Verve Therapeutics, Inc. (a) | 83,900 | 1,298,772 | |
Viking Therapeutics, Inc. (a) | 997,058 | 21,895,394 | |
Vor Biopharma, Inc. (a) | 368,745 | 1,733,102 | |
Zai Lab Ltd. ADR (a) | 100,686 | 3,271,288 | |
Zentalis Pharmaceuticals, Inc. (a) | 188,444 | 4,907,082 | |
993,998,504 | |||
Health Care Equipment & Supplies - 2.7% | |||
Abbott Laboratories | 13,701 | 1,397,502 | |
Blink Health LLC Series A1 (a)(b)(c) | 8,589 | 411,327 | |
Boston Scientific Corp. (a) | 7,100 | 365,508 | |
DexCom, Inc. (a) | 250,684 | 29,395,206 | |
Figs, Inc. Class A (a)(d) | 90,600 | 746,544 | |
Inspire Medical Systems, Inc. (a) | 4,855 | 1,420,039 | |
Insulet Corp. (a) | 390,260 | 107,028,805 | |
Intuitive Surgical, Inc. (a) | 147,573 | 45,428,872 | |
Novocure Ltd. (a) | 1,434,664 | 103,023,222 | |
Oddity Tech Ltd. (a)(b)(c) | 2,226 | 1,007,065 | |
Outset Medical, Inc. (a) | 430,828 | 8,974,147 | |
Penumbra, Inc. (a) | 800 | 245,872 | |
Presbia PLC (a)(c) | 454,926 | 5 | |
PROCEPT BioRobotics Corp. (a) | 380,885 | 12,740,603 | |
Shockwave Medical, Inc. (a) | 122,869 | 33,800,033 | |
345,984,750 | |||
Health Care Providers & Services - 0.9% | |||
Alignment Healthcare, Inc. (a) | 461,922 | 2,711,482 | |
Guardant Health, Inc. (a) | 84,100 | 2,465,812 | |
Humana, Inc. | 56,143 | 28,176,487 | |
McKesson Corp. | 21,100 | 8,246,724 | |
The Oncology Institute, Inc. (a)(b) | 377,375 | 161,328 | |
UnitedHealth Group, Inc. | 168,954 | 82,321,147 | |
124,082,980 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(b)(c) | 85 | 59,885 | |
DNA Script (a)(b)(c) | 324 | 228,269 | |
288,154 | |||
Life Sciences Tools & Services - 0.6% | |||
10X Genomics, Inc. Class B (a)(f) | 640,857 | 33,619,358 | |
Akoya Biosciences, Inc. (a) | 800 | 4,504 | |
Danaher Corp. | 24,433 | 5,610,305 | |
Gerresheimer AG | 19,700 | 2,164,694 | |
Olink Holding AB ADR (a) | 353,535 | 6,886,862 | |
Seer, Inc. (a) | 251,317 | 924,847 | |
Thermo Fisher Scientific, Inc. | 30,574 | 15,545,656 | |
WuXi AppTec Co. Ltd. (H Shares) (f) | 217,040 | 1,787,775 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 1,409,810 | 7,210,683 | |
73,754,684 | |||
Pharmaceuticals - 2.1% | |||
Adimab LLC (a)(b)(c)(e) | 762,787 | 30,397,062 | |
Arvinas Holding Co. LLC (a) | 38,600 | 842,638 | |
Atea Pharmaceuticals, Inc. (a) | 748,712 | 2,987,361 | |
Bristol-Myers Squibb Co. | 81,465 | 5,249,605 | |
DICE Therapeutics, Inc. (a) | 66,800 | 2,111,548 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 126,113 | 2,806,014 | |
Eli Lilly & Co. | 225,900 | 97,015,014 | |
Fulcrum Therapeutics, Inc. (a) | 378,501 | 1,029,523 | |
GH Research PLC (a) | 218,700 | 2,449,440 | |
Harmony Biosciences Holdings, Inc. (a)(d) | 496,114 | 17,155,622 | |
Intra-Cellular Therapies, Inc. (a) | 785,756 | 46,658,191 | |
Merck & Co., Inc. | 34,600 | 3,820,186 | |
Novo Nordisk A/S Series B sponsored ADR | 155,600 | 24,967,576 | |
Nuvation Bio, Inc. (a) | 1,391,839 | 2,254,779 | |
OptiNose, Inc. (a) | 1,676,467 | 2,095,584 | |
OptiNose, Inc. warrants (a) | 206,400 | 63,597 | |
Pfizer, Inc. | 18,100 | 688,162 | |
Pharvaris BV (a) | 43,300 | 370,215 | |
Pliant Therapeutics, Inc. (a) | 369,000 | 7,981,470 | |
Sienna Biopharmaceuticals, Inc. (a)(c) | 589,618 | 6 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 126,063 | 1,448,464 | |
Theravance Biopharma, Inc. (a)(d) | 119,445 | 1,335,395 | |
UCB SA | 153,500 | 13,375,488 | |
Ventyx Biosciences, Inc. (a) | 80,200 | 2,764,494 | |
269,867,434 | |||
TOTAL HEALTH CARE | 1,807,976,506 | ||
INDUSTRIALS - 4.3% | |||
Aerospace & Defense - 1.2% | |||
AeroVironment, Inc. (a) | 37,400 | 3,493,534 | |
Lockheed Martin Corp. | 48,950 | 21,734,290 | |
Raytheon Technologies Corp. | 121,100 | 11,158,154 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 1,375,690 | 105,928,130 | |
The Boeing Co. (a) | 87,586 | 18,016,440 | |
160,330,548 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. | 646,600 | 2,730,593 | |
United Parcel Service, Inc. Class B | 51,684 | 8,631,228 | |
11,361,821 | |||
Construction & Engineering - 0.1% | |||
Fluor Corp. (a) | 322,900 | 8,576,224 | |
MasTec, Inc. (a) | 35,100 | 3,557,736 | |
Quanta Services, Inc. | 31,200 | 5,540,496 | |
17,674,456 | |||
Electrical Equipment - 0.3% | |||
Eaton Corp. PLC | 63,424 | 11,156,282 | |
Emerson Electric Co. | 150,849 | 11,717,950 | |
Generac Holdings, Inc. (a) | 87,600 | 9,541,392 | |
Nextracker, Inc. Class A (d) | 38,100 | 1,457,325 | |
NuScale Power Corp. (a)(d) | 238,100 | 1,785,750 | |
35,658,699 | |||
Ground Transportation - 1.4% | |||
Avis Budget Group, Inc. (a) | 494,700 | 83,005,713 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 28,568 | 0 | |
Stage 2 rights (a)(c) | 28,568 | 0 | |
Stage 3 rights (a)(c) | 28,567 | 0 | |
Lyft, Inc. (a) | 737,378 | 6,651,150 | |
Uber Technologies, Inc. (a) | 1,563,204 | 59,292,328 | |
Union Pacific Corp. | 192,161 | 36,994,836 | |
185,944,027 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 16,480 | 1,537,749 | |
General Electric Co. | 7,100 | 720,863 | |
Honeywell International, Inc. | 24,983 | 4,786,743 | |
7,045,355 | |||
Machinery - 0.4% | |||
Caterpillar, Inc. | 83,260 | 17,130,745 | |
Deere & Co. | 70,852 | 24,513,375 | |
Fortive Corp. | 25,100 | 1,634,261 | |
Illinois Tool Works, Inc. | 42,453 | 9,285,745 | |
Ingersoll Rand, Inc. | 61,344 | 3,475,751 | |
56,039,877 | |||
Passenger Airlines - 0.6% | |||
Delta Air Lines, Inc. (a) | 498,490 | 18,110,142 | |
JetBlue Airways Corp. (a) | 71,414 | 487,758 | |
Ryanair Holdings PLC sponsored ADR (a) | 6,178 | 649,184 | |
Southwest Airlines Co. (d) | 493,137 | 14,730,002 | |
Spirit Airlines, Inc. | 475,233 | 7,228,294 | |
United Airlines Holdings, Inc. (a) | 352,325 | 16,723,106 | |
Wheels Up Experience, Inc.: | |||
rights (a)(c) | 23,018 | 1,381 | |
rights (a)(c) | 23,018 | 921 | |
rights (a)(c) | 23,018 | 691 | |
Wizz Air Holdings PLC (a)(f) | 601,240 | 20,762,051 | |
78,693,530 | |||
Professional Services - 0.1% | |||
LegalZoom.com, Inc. (a) | 167,400 | 1,873,206 | |
Paycom Software, Inc. | 10,300 | 2,885,339 | |
Paylocity Holding Corp. (a) | 19,597 | 3,385,382 | |
8,143,927 | |||
TOTAL INDUSTRIALS | 560,892,240 | ||
INFORMATION TECHNOLOGY - 44.6% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 98,982 | 16,464,666 | |
Ciena Corp. (a) | 681,897 | 31,871,866 | |
Infinera Corp. (a)(d) | 3,340,853 | 16,370,180 | |
64,706,712 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a) | 100,990 | 3,732,590 | |
TE Connectivity Ltd. | 1,441 | 176,494 | |
3,909,084 | |||
IT Services - 1.2% | |||
Accenture PLC Class A | 85,200 | 26,064,384 | |
Cloudflare, Inc. (a)(d) | 936,381 | 64,760,110 | |
IBM Corp. | 99,195 | 12,755,485 | |
MongoDB, Inc. Class A (a) | 6,541 | 1,921,680 | |
Okta, Inc. (a) | 90,481 | 8,224,723 | |
Shopify, Inc. Class A (a) | 614,790 | 35,175,499 | |
Snowflake, Inc. (a) | 53,425 | 8,834,358 | |
Twilio, Inc. Class A (a) | 7,500 | 522,150 | |
X Holdings Corp. Class A (c) | 22,630 | 790,692 | |
159,049,081 | |||
Semiconductors & Semiconductor Equipment - 18.0% | |||
Advanced Micro Devices, Inc. (a) | 724,236 | 85,611,938 | |
Allegro MicroSystems LLC (a) | 12,300 | 483,759 | |
Applied Materials, Inc. | 342,885 | 45,706,571 | |
ASML Holding NV (depository receipt) | 19,835 | 14,339,317 | |
Broadcom, Inc. | 31,125 | 25,147,755 | |
Cirrus Logic, Inc. (a) | 525,216 | 40,798,779 | |
Enphase Energy, Inc. (a) | 57,800 | 10,050,264 | |
First Solar, Inc. (a) | 161,400 | 32,757,744 | |
GlobalFoundries, Inc. (a) | 70,700 | 4,123,931 | |
Impinj, Inc. (a) | 72,000 | 7,368,480 | |
KLA Corp. | 42,186 | 18,687,976 | |
Lam Research Corp. | 11,650 | 7,184,555 | |
Lattice Semiconductor Corp. (a) | 46,600 | 3,789,046 | |
Marvell Technology, Inc. | 958,741 | 56,076,761 | |
Micron Technology, Inc. | 143,031 | 9,754,714 | |
Monolithic Power Systems, Inc. | 29,800 | 14,599,318 | |
NVIDIA Corp. | 4,859,240 | 1,838,444,844 | |
onsemi (a) | 149,800 | 12,523,280 | |
Qualcomm, Inc. | 115,809 | 13,133,899 | |
Silicon Laboratories, Inc. (a) | 376,039 | 52,897,406 | |
SiTime Corp. (a) | 132,435 | 13,133,579 | |
SolarEdge Technologies, Inc. (a) | 6,700 | 1,908,361 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 107,168 | 10,565,693 | |
Teradyne, Inc. | 59,450 | 5,956,296 | |
Texas Instruments, Inc. | 109,594 | 19,056,205 | |
Wolfspeed, Inc. (a)(d) | 89,029 | 4,276,953 | |
2,348,377,424 | |||
Software - 12.4% | |||
Adobe, Inc. (a) | 143,112 | 59,790,762 | |
Atlassian Corp. PLC (a) | 7,126 | 1,288,310 | |
Autodesk, Inc. (a) | 93,842 | 18,711,156 | |
Bill Holdings, Inc. (a) | 25,600 | 2,651,648 | |
Clear Secure, Inc. | 1,000 | 24,710 | |
Confluent, Inc. (a) | 96,500 | 3,062,910 | |
Crowdstrike Holdings, Inc. (a) | 76,733 | 12,287,255 | |
Datadog, Inc. Class A (a) | 62,130 | 5,896,758 | |
Elastic NV (a) | 35,694 | 2,599,237 | |
Freshworks, Inc. (a) | 42,500 | 669,800 | |
HubSpot, Inc. (a) | 41,267 | 21,375,893 | |
Intuit, Inc. | 60,844 | 25,500,937 | |
Microsoft Corp. | 2,863,936 | 940,487,943 | |
Nutanix, Inc. Class A (a) | 3,655,491 | 108,275,643 | |
Oracle Corp. | 1,352,604 | 143,294,868 | |
Palantir Technologies, Inc. (a) | 36,900 | 542,799 | |
Palo Alto Networks, Inc. (a) | 1,600 | 341,424 | |
RingCentral, Inc. (a) | 35,942 | 1,247,187 | |
Salesforce, Inc. (a) | 880,749 | 196,741,712 | |
Samsara, Inc. (a)(d) | 38,400 | 739,200 | |
SentinelOne, Inc. (a) | 35,500 | 758,990 | |
ServiceNow, Inc. (a) | 45,500 | 24,787,490 | |
Stripe, Inc. Class B (a)(b)(c) | 43,500 | 875,655 | |
UiPath, Inc. Class A (a)(d) | 1,136,848 | 20,338,211 | |
Workday, Inc. Class A (a) | 25,132 | 5,327,733 | |
Zoom Video Communications, Inc. Class A (a) | 163,103 | 10,949,104 | |
Zscaler, Inc. (a) | 57,165 | 7,744,714 | |
1,616,312,049 | |||
Technology Hardware, Storage & Peripherals - 12.5% | |||
Apple, Inc. | 8,404,828 | 1,489,755,763 | |
Pure Storage, Inc. Class A (a) | 4,417,986 | 127,193,817 | |
Samsung Electronics Co. Ltd. | 101,633 | 5,486,843 | |
1,622,436,423 | |||
TOTAL INFORMATION TECHNOLOGY | 5,814,790,773 | ||
MATERIALS - 0.7% | |||
Chemicals - 0.4% | |||
Albemarle Corp. | 33,200 | 6,425,196 | |
CF Industries Holdings, Inc. | 143,600 | 8,832,836 | |
Cibus Corp.: | |||
Series C (a)(b)(c)(e) | 1,142,857 | 2,285,714 | |
Series D (a)(b)(c)(e) | 750,960 | 1,501,920 | |
Series E (a)(b)(c)(e) | 123,690 | 247,380 | |
Series F (a)(b)(c)(e) | 293,503 | 587,006 | |
Corteva, Inc. | 358,700 | 19,186,863 | |
The Mosaic Co. | 243,700 | 7,788,652 | |
46,855,567 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 54,100 | 2,047,685 | |
Metals & Mining - 0.3% | |||
Barrick Gold Corp. (Canada) | 263,700 | 4,456,190 | |
Freeport-McMoRan, Inc. | 1,097,300 | 37,681,282 | |
Rio Tinto PLC sponsored ADR | 32,900 | 1,942,745 | |
44,080,217 | |||
TOTAL MATERIALS | 92,983,469 | ||
REAL ESTATE - 0.1% | |||
Equity Real Estate Investment Trusts (REITs) - 0.1% | |||
American Tower Corp. | 60,198 | 11,102,919 | |
Equinix, Inc. | 5,000 | 3,727,750 | |
14,830,669 | |||
Real Estate Management & Development - 0.0% | |||
CBRE Group, Inc. (a) | 31,500 | 2,359,980 | |
TOTAL REAL ESTATE | 17,190,649 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (f) | 62,400 | 5,463,745 | |
TOTAL COMMON STOCKS (Cost $5,223,716,716) | 12,639,708,766 | ||
Preferred Stocks - 1.9% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.8% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 84,766 | 17,986,498 | |
Reddit, Inc.: | |||
Series B(a)(b)(c) | 37,935 | 1,278,789 | |
Series E(a)(b)(c) | 5,127 | 172,831 | |
Series F(a)(b)(c) | 40,428 | 1,362,828 | |
20,800,946 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 32,487 | 68,223 | |
Series C(a)(b)(c) | 127,831 | 268,445 | |
Series D(a)(b)(c) | 215,900 | 453,390 | |
790,058 | |||
Broadline Retail - 0.0% | |||
Meesho Series F (a)(b)(c) | 62,461 | 4,323,550 | |
Hotels, Restaurants & Leisure - 0.1% | |||
Discord, Inc. Series I (a)(b)(c) | 1,400 | 408,842 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(b)(c)(e) | 16,248 | 4,584,044 | |
Series 4(a)(b)(c)(e) | 1,483 | 400,959 | |
Series 5(a)(b)(c)(e) | 5,955 | 1,513,701 | |
6,907,546 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Freenome, Inc.: | |||
Series C(a)(b)(c) | 190,858 | 1,486,784 | |
Series D(a)(b)(c) | 91,538 | 748,781 | |
Laronde, Inc. Series B (a)(b)(c) | 66,432 | 1,247,593 | |
3,483,158 | |||
TOTAL CONSUMER DISCRETIONARY | 15,504,312 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 26,833 | 2,309,785 | |
Series H(a)(b)(c) | 21,372 | 1,839,702 | |
Instacart, Inc.: | |||
Series H(a)(b)(c) | 13,904 | 569,369 | |
Series I(a)(b)(c) | 6,341 | 259,664 | |
4,978,520 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(b)(c) | 338,565 | 1,736,838 | |
Series D(a)(b)(c) | 126,371 | 640,701 | |
Bowery Farming, Inc. Series C1 (a)(b)(c) | 27,136 | 252,908 | |
2,630,447 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(b)(c) | 6,648 | 62,824 | |
TOTAL CONSUMER STAPLES | 7,671,791 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(b)(c) | 198,234 | 2,115,157 | |
Series C(a)(b)(c) | 115,792 | 1,251,712 | |
Series D1(b)(c) | 214,900 | 2,329,516 | |
Series D2(b)(c) | 44,427 | 455,377 | |
Saluda Medical, Inc.: | |||
Series D(b)(c) | 109,988 | 1,276,961 | |
Series E(b)(c) | 289,149 | 2,330,541 | |
9,759,264 | |||
HEALTH CARE - 0.7% | |||
Biotechnology - 0.5% | |||
Altos Labs, Inc. Series B (b)(c) | 122,084 | 2,337,909 | |
Ankyra Therapeutics Series B (a)(b)(c) | 257,347 | 1,078,284 | |
Apogee Therapeutics Series B (b)(c) | 565,933 | 1,867,579 | |
Asimov, Inc. Series B (a)(b)(c) | 15,783 | 763,739 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 239,403 | 665,540 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 255,590 | 1,431,304 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(b)(c) | 4,460 | 946,546 | |
Series D2(a)(b)(c) | 1,412 | 266,247 | |
Cleerly, Inc. Series C (b)(c) | 272,438 | 3,182,076 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 129,534 | 1,357,516 | |
Dianthus Therapeutics, Inc. Series A (a)(b)(c) | 287,993 | 1,281,569 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 250,956 | 4,128,226 | |
Series C(a)(b)(c) | 101,911 | 1,676,436 | |
ElevateBio LLC Series C (a)(b)(c) | 332,500 | 1,396,500 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 247,595 | 2,691,358 | |
Generate Biomedicines Series B (a)(b)(c) | 157,390 | 1,584,917 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 308,833 | 1,306,364 | |
Series E(a)(b)(c) | 222,357 | 940,570 | |
Intarcia Therapeutics, Inc. Series EE (a)(b)(c) | 116,544 | 1 | |
Korro Bio, Inc.: | |||
Series B1(a)(b)(c) | 241,420 | 533,538 | |
Series B2(a)(b)(c) | 226,657 | 509,978 | |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | 1,780,790 | 3,276,654 | |
National Resilience, Inc.: | |||
Series B(a)(b)(c) | 251,448 | 15,270,437 | |
Series C(a)(b)(c) | 44,850 | 2,723,741 | |
Odyssey Therapeutics, Inc. Series B (b)(c) | 468,023 | 2,962,586 | |
Quell Therapeutics Ltd. Series B (a)(b)(c) | 760,965 | 1,537,149 | |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | 8,766 | 591,004 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 481,325 | 1,246,632 | |
Series B1(a)(b)(c) | 256,702 | 759,838 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 199,356 | 785,463 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 289,700 | 2,259,660 | |
Series A1(b)(c) | 143,637 | 1,150,532 | |
62,509,893 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 197,068 | 9,437,587 | |
Kardium, Inc. Series D6 (a)(b)(c) | 1,136,853 | 1,125,484 | |
10,563,071 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(b)(c) | 616,102 | 529,848 | |
Series C(b)(c) | 2,572,461 | 1,800,723 | |
Conformal Medical, Inc.: | |||
Series C(a)(b)(c) | 240,750 | 1,054,485 | |
Series D(b)(c) | 55,260 | 280,721 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 242,077 | 428,476 | |
4,094,253 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 22,992 | 1,152,359 | |
Series E1(b)(c) | 17,916 | 897,950 | |
DNA Script: | |||
Series B(a)(b)(c) | 4 | 2,818 | |
Series C(a)(b)(c) | 2,060 | 1,451,339 | |
Omada Health, Inc. Series E (a)(b)(c) | 435,062 | 1,409,601 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 83,544 | 146,202 | |
Series B(a)(b)(c) | 198,721 | 486,866 | |
Series C(a)(b)(c) | 66,506 | 184,887 | |
Wugen, Inc. Series B (a)(b)(c) | 96,718 | 483,590 | |
6,215,612 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(b)(c) | 4,910 | 966,926 | |
Series C(a)(b)(c) | 2,570 | 601,843 | |
Galvanize Therapeutics Series B (a)(b)(c) | 1,018,908 | 1,721,955 | |
Nohla Therapeutics, Inc. Series B (a)(b)(c) | 3,126,919 | 31 | |
3,290,755 | |||
TOTAL HEALTH CARE | 86,673,584 | ||
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.3% | |||
Space Exploration Technologies Corp. Series G (a)(b)(c) | 53,937 | 41,531,490 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 10,986 | 901,291 | |
Series B, 6.00%(a)(b)(c) | 17,147 | 1,492,132 | |
2,393,423 | |||
TOTAL INDUSTRIALS | 43,924,913 | ||
INFORMATION TECHNOLOGY - 0.3% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. Series E (a)(b)(c) | 814,561 | 472,445 | |
Menlo Micro, Inc. Series C (a)(b)(c) | 959,784 | 892,599 | |
1,365,044 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(b)(c) | 43,548 | 806,944 | |
Astera Labs, Inc.: | |||
Series A(b)(c) | 85,993 | 764,478 | |
Series B(b)(c) | 14,642 | 130,167 | |
Series C(a)(b)(c) | 371,500 | 3,302,635 | |
Series D(b)(c) | 291,891 | 2,594,911 | |
GaN Systems, Inc.: | |||
Series F1(a)(b)(c) | 50,937 | 566,929 | |
Series F2(a)(b)(c) | 26,897 | 299,364 | |
Retym, Inc. Series C (b)(c) | 165,887 | 1,290,899 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 338,113 | 2,025,297 | |
Series B1(a)(b)(c) | 22,648 | 160,121 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 167,386 | 1,175,050 | |
13,116,795 | |||
Software - 0.2% | |||
Bolt Technology OU Series E (a)(b)(c) | 13,569 | 1,753,812 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 53,226 | 2,569,219 | |
Series H(a)(b)(c) | 56,454 | 2,725,035 | |
Dataminr, Inc. Series D (a)(b)(c) | 442,241 | 6,080,814 | |
Evozyne LLC Series A (a)(b)(c) | 101,400 | 1,748,136 | |
Skyryse, Inc. Series B (a)(b)(c) | 117,170 | 2,466,429 | |
Stripe, Inc. Series H (a)(b)(c) | 19,200 | 386,496 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 21,000 | 1,185,240 | |
18,915,181 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (b)(c) | 121,541 | 2,000,176 | |
TOTAL INFORMATION TECHNOLOGY | 35,397,196 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 36,990 | 1,272,826 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 355,446 | 12,607,670 | |
TOTAL MATERIALS | 13,880,496 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(b)(c) | 16,253 | 745,850 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 234,358,352 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(b)(c) | 5,678,726 | 145,375 | |
Waymo LLC Series A2 (a)(b)(c) | 10,731 | 494,699 | |
640,074 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 137,221 | 3,363,287 | |
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(b)(c) | 13,511 | 2,759,352 | |
Faraday Pharmaceuticals, Inc. Series B (a)(b)(c) | 219,824 | 244,005 | |
3,003,357 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 7,006,718 | ||
TOTAL PREFERRED STOCKS (Cost $212,021,625) | 241,365,070 | ||
Convertible Bonds - 0.2% | |||
Principal Amount (h) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.2% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (b)(c) | 857,900 | 883,465 | |
4% 6/12/27 (b)(c) | 25,455 | 26,214 | |
4.5% 10/27/25 (b)(c)(i) | 1,429,216 | 1,411,637 | |
2,321,316 | |||
Specialty Retail - 0.2% | |||
Wayfair LLC 0.625% 10/1/25 | 19,000,000 | 15,580,000 | |
TOTAL CONSUMER DISCRETIONARY | 17,901,316 | ||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (b)(c) | 3,000,000 | 3,327,900 | |
TOTAL CONVERTIBLE BONDS (Cost $20,538,743) | 21,229,216 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) | Value ($) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/23 (b)(c)(j) | 614,446 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(k) | 1,612,660 | 1,572,344 | |
TOTAL HEALTH CARE | 1,572,344 | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Semiconductors & Semiconductor Equipment - 0.0% | |||
GaN Systems, Inc. 0% (b)(c)(k) | 1,193,899 | 1,473,630 | |
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(k) | 1,170,000 | 1,110,330 | |
TOTAL INFORMATION TECHNOLOGY | 2,583,960 | ||
TOTAL PREFERRED SECURITIES (Cost $4,591,005) | 4,156,304 | ||
Money Market Funds - 1.5% | |||
Shares | Value ($) | ||
Fidelity Securities Lending Cash Central Fund 5.14% (l)(m) (Cost $197,086,118) | 197,066,411 | 197,086,118 | |
TOTAL INVESTMENT IN SECURITIES - 100.6% (Cost $5,657,954,207) | 13,103,545,474 |
NET OTHER ASSETS (LIABILITIES) - (0.6)% | (74,959,253) |
NET ASSETS - 100.0% | 13,028,586,221 |
(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 $439,150,603 or 3.4% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(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 $69,307,733 or 0.5% of net assets. |
(g) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(j) | Non-income producing - Security is in default. |
(k) | Security is perpetual in nature with no stated maturity date. |
(l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(m) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
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 |
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 |
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 |
Boundless Bio, Inc. Series C | 4/05/23 | 1,800,723 |
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 |
Cibus Corp. Series F | 12/02/22 | 587,006 |
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 |
Conformal Medical, Inc. Series D | 5/26/23 | 280,702 |
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 |
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 |
Lightmatter, Inc. Series C | 5/19/23 | 2,000,176 |
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% 5/22/27 | 6/04/20 | 857,900 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 25,455 |
Neutron Holdings, Inc. 4.5% 10/27/25 | 10/29/21 - 4/27/23 | 1,429,216 |
Nohla Therapeutics, Inc. Series B | 5/01/18 | 1,096,231 |
Oddity Tech Ltd. | 1/06/22 | 958,093 |
Odyssey Therapeutics, Inc. 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 |
Retym, Inc. Series C | 5/17/23 | 1,290,899 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 928,004 |
Saluda Medical, Inc. warrants 1/20/27 | 1/20/22 | 0 |
Saluda Medical, Inc. Series D | 1/20/22 | 1,402,995 |
Saluda Medical, Inc. Series E | 4/06/23 | 2,334,531 |
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 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 53,644,011 | 1,393,710,497 | 1,447,354,508 | 1,501,555 | - | - | - | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.14% | 137,224,592 | 603,703,650 | 543,842,124 | 420,257 | - | - | 197,086,118 | 0.7% |
Total | 190,868,603 | 1,997,414,147 | 1,991,196,632 | 1,921,812 | - | - | 197,086,118 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,186,230,520 | 1,157,122,846 | - | 29,107,674 |
Consumer Discretionary | 2,262,504,117 | 2,225,604,921 | - | 36,899,196 |
Consumer Staples | 398,917,689 | 391,120,240 | - | 7,797,449 |
Energy | 185,146,185 | 185,146,185 | - | - |
Financials | 365,352,547 | 351,237,119 | - | 14,115,428 |
Health Care | 1,897,653,447 | 1,764,629,506 | 3,251,828 | 129,772,113 |
Industrials | 604,817,153 | 454,961,117 | - | 149,856,036 |
Information Technology | 5,850,187,969 | 5,813,124,426 | - | 37,063,543 |
Materials | 106,863,965 | 88,361,449 | - | 18,502,516 |
Real Estate | 17,190,649 | 17,190,649 | - | - |
Utilities | 6,209,595 | 5,463,745 | - | 745,850 |
Corporate Bonds | 21,229,216 | - | 15,580,000 | 5,649,216 |
Preferred Securities | 4,156,304 | - | - | 4,156,304 |
Money Market Funds | 197,086,118 | 197,086,118 | - | - |
Total Investments in Securities: | 13,103,545,474 | 12,651,048,321 | 18,831,828 | 433,665,325 |
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 136,400,352 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 13,455,684 | ||
Cost of Purchases | - | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 149,856,036 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | 13,455,684 | |
Other Investments in Securities | |||
Beginning Balance | $ | 274,414,732 | |
Net Realized Gain (Loss) on Investment Securities | 4,573 | ||
Net Unrealized Gain (Loss) on Investment Securities | (6,991,772) | ||
Cost of Purchases | 9,991,699 | ||
Proceeds of Sales | (351,377) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 6,741,434 | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 283,809,289 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | (7,005,667) | |
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, corporate actions or exchanges. 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. 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 | ||||
May 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $193,915,394) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,460,868,089) | $ | 12,906,459,356 | ||
Fidelity Central Funds (cost $197,086,118) | 197,086,118 | |||
Total Investment in Securities (cost $5,657,954,207) | $ | 13,103,545,474 | ||
Segregated cash with brokers for derivative instruments | 50,489,600 | |||
Restricted cash | 158,441 | |||
Foreign currency held at value (cost $13,930) | 14,293 | |||
Receivable for investments sold | 1,310,285,788 | |||
Receivable for fund shares sold | 410 | |||
Dividends receivable | 6,660,288 | |||
Interest receivable | 264,239 | |||
Distributions receivable from Fidelity Central Funds | 221,218 | |||
Other receivables | 157,600 | |||
Total assets | 14,471,797,351 | |||
Liabilities | ||||
Payable to custodian bank | $ | 41,134 | ||
Payable for investments purchased | ||||
Regular delivery | 1,066,141 | |||
Delayed delivery | 1,376,180 | |||
Payable for fund shares redeemed | 1,238,066,028 | |||
Payable for daily variation margin on futures contracts | 4,815,799 | |||
Other payables and accrued expenses | 770,117 | |||
Collateral on securities loaned | 197,075,731 | |||
Total Liabilities | 1,443,211,130 | |||
Net Assets | $ | 13,028,586,221 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,874,440,378 | ||
Total accumulated earnings (loss) | 7,154,145,843 | |||
Net Assets | $ | 13,028,586,221 | ||
Net Asset Value , offering price and redemption price per share ($13,028,586,221 ÷ 760,162,876 shares) | $ | 17.14 |
Statement of Operations | ||||
Six months ended May 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 38,017,343 | ||
Interest | 724,746 | |||
Income from Fidelity Central Funds (including $420,257 from security lending) | 1,921,812 | |||
Total Income | 40,663,901 | |||
Expenses | ||||
Custodian fees and expenses | $ | 108,480 | ||
Independent trustees' fees and expenses | 38,839 | |||
Interest | 44,860 | |||
Miscellaneous | 770 | |||
Total expenses before reductions | 192,949 | |||
Expense reductions | (2,158) | |||
Total expenses after reductions | 190,791 | |||
Net Investment income (loss) | 40,473,110 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $342,573) | (136,187,356) | |||
Foreign currency transactions | 35,259 | |||
Futures contracts | 1,617,457 | |||
Total net realized gain (loss) | (134,534,640) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $682,387) | 1,926,231,861 | |||
Assets and liabilities in foreign currencies | (28,601) | |||
Futures contracts | (202,903) | |||
Total change in net unrealized appreciation (depreciation) | 1,926,000,357 | |||
Net gain (loss) | 1,791,465,717 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,831,938,827 |
Statement of Changes in Net Assets | ||||
Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 40,473,110 | $ | 72,635,984 |
Net realized gain (loss) | (134,534,640) | (141,822,120) | ||
Change in net unrealized appreciation (depreciation) | 1,926,000,357 | (3,990,673,968) | ||
Net increase (decrease) in net assets resulting from operations | 1,831,938,827 | (4,059,860,104) | ||
Distributions to shareholders | (69,434,650) | (3,620,786,672) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,113,376,293 | 5,783,530,379 | ||
Reinvestment of distributions | 69,434,650 | 3,620,786,672 | ||
Cost of shares redeemed | (2,464,384,400) | (2,354,119,124) | ||
Net increase (decrease) in net assets resulting from share transactions | (1,281,573,457) | 7,050,197,927 | ||
Total increase (decrease) in net assets | 480,930,720 | (630,448,849) | ||
Net Assets | ||||
Beginning of period | 12,547,655,501 | 13,178,104,350 | ||
End of period | $ | 13,028,586,221 | $ | 12,547,655,501 |
Other Information | ||||
Shares | ||||
Sold | 77,421,265 | 351,665,953 | ||
Issued in reinvestment of distributions | 4,752,543 | 176,279,780 | ||
Redeemed | (153,432,834) | (146,981,386) | ||
Net increase (decrease) | (71,259,026) | 380,964,347 | ||
Fidelity® Series Growth Company Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.09 | $ | 29.25 | $ | 29.01 | $ | 19.16 | $ | 17.61 | $ | 18.19 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .05 | .10 | .10 C | .09 | .11 | .15 D | ||||||
Net realized and unrealized gain (loss) | 2.08 | (6.37) | 7.43 | 11.72 | 3.31 | 1.02 | ||||||
Total from investment operations | 2.13 | (6.27) | 7.53 | 11.81 | 3.42 | 1.17 | ||||||
Distributions from net investment income | (.08) | (.12) | (.16) | (.13) | (.15) | (.09) | ||||||
Distributions from net realized gain | - | (7.77) | (7.13) | (1.84) | (1.72) | (1.66) | ||||||
Total distributions | (.08) | (7.89) | (7.29) | (1.96) E | (1.87) | (1.75) | ||||||
Net asset value, end of period | $ | 17.14 | $ | 15.09 | $ | 29.25 | $ | 29.01 | $ | 19.16 | $ | 17.61 |
Total Return F,G | 14.24% | (28.60)% | 33.42% | 68.41% | 23.24% | 6.96% | ||||||
Ratios to Average Net Assets A,H,I | ||||||||||||
Expenses before reductions J | -% K | -% | -% | -% | -% | -% | ||||||
Expenses net of fee waivers, if any J | -% K | -% | -% | -% | -% | -% | ||||||
Expenses net of all reductions J | -% K | -% | -% | -% | -% | -% | ||||||
Net investment income (loss) | .63% K | .60% | .40% C | .41% | .64% | .79% D | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 13,028,586 | $ | 12,547,656 | $ | 13,178,104 | $ | 12,836,920 | $ | 11,173,659 | $ | 11,276,470 |
Portfolio turnover rate L | 20% K | 29% | 34% | 18% | 19% M | 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 | 423,859,805 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 26.0 / 14.1 | Increase |
Enterprise value/Revenue multiple (EV/R) | 2.1 - 25.0 / 6.9 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 5.0 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Liquidity preference | $254.19 - $282.13 / $268.90 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.31 / $0.22 | Increase | ||
Market approach | Transaction price | $0.70 - $215.03 / $33.05 | Increase | ||
Discount rate | 5.0% - 52.3% / 23.1% | Decrease | |||
Book value | Book value multiple | 1.4 | Increase | ||
Discounted cash flow | Discount rate | 8.0% - 14.1% / 14.1% | Decrease | ||
Weighted average cost of capital (WACC) | 20.5% - 38.4% / 31.3% | Decrease | |||
Exit multiple | 2.0 - 7.3 / 2.4 | Increase | |||
Probability rate | 10.0% - 70.0% / 40.0% | Increase | |||
Black scholes | Discount rate | 3.5% - 5.3% / 4.1% | Increase | ||
Volatility | 45.0% - 100.0% / 77.6% | Increase | |||
Term | 1.0 - 5.0 / 3.0 | Increase | |||
Corporate Bonds | 5,649,216 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 2.5 - 5.5 / 4.3 | Increase |
Discount rate | 29.2% | Decrease | |||
Probability rate | 10.0% - 50.0% / 33.3% | Increase | |||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 0.6 | Increase | |||
Preferred Securities | 4,156,304 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 5.0 | Increase |
Recovery value | Recovery value | $0.00 | Increase | ||
Market approach | Transaction price | $59.45 - $100.00 / $83.22 | Increase | ||
Discounted cash flow | Discount rate | 20.0% | Decrease | ||
Black scholes | Discount rate | 4.0% - 4.2% / 4.1% | Increase | ||
Volatility | 70.0% | Increase | |||
Term | 2.0 - 3.0 / 2.6 | Increase |
Gross unrealized appreciation | $7,839,701,840 |
Gross unrealized depreciation | (428,971,758) |
Net unrealized appreciation (depreciation) | $7,410,730,082 |
Tax cost | $5,692,815,392 |
Short-term | $(61,860,546) |
$ Amount | % of Net Assets | |
Fidelity Series Growth Company Fund | 48,895,075 | .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 | 1,301,129,064 | 2,595,071,072 |
Amount | |
Fidelity Series Growth Company Fund | $ 47,193 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Series Growth Company Fund | Borrower | $ 108,896,333 | 4.94% | $44,860 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Growth Company Fund | 236,732,249 | 148,741,413 | (1,740,803) |
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 | $44,334 | $31,180 | $890,334 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Series Growth Company Fund | -%- D | |||||||||
Actual | $ 1,000 | $ 1,142.40 | $- E | |||||||
Hypothetical- B | $ 1,000 | $ 1,024.93 | $- E | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on April 19, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To reclassify the diversification status of the fund from diversified to non-diversified by eliminating the following fundamental policy: The fund may not with respect to 75% of fund's total assets, purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or securities of other investment companies) if, as a result, (a) more than 5% of fund's total assets would be invested in the securities of that issuer, or (b) the fund would hold more than 10% of outstanding voting securities of issuer. | ||
# of Votes | % of Votes | |
Affirmative | 12,596,252,354.420 | 100.000 |
Against | 0.000 | 0.000 |
Abstain | 0.000 | 0.000 |
TOTAL | 12,596,252,354.420 | 100.000 |
Contents
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 13.0 | |
Apple, Inc. | 12.5 | |
Microsoft Corp. | 7.2 | |
Amazon.com, Inc. | 5.6 | |
Alphabet, Inc. Class A | 4.6 | |
lululemon athletica, Inc. | 3.3 | |
Alphabet, Inc. Class C | 2.5 | |
Salesforce, Inc. | 1.8 | |
Tesla, Inc. | 1.6 | |
Visa, Inc. Class A | 1.1 | |
53.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 45.0 | |
Consumer Discretionary | 17.6 | |
Health Care | 14.7 | |
Communication Services | 9.1 | |
Industrials | 4.6 | |
Consumer Staples | 3.2 | |
Financials | 3.2 | |
Energy | 1.5 | |
Materials | 0.8 | |
Real Estate | 0.1 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.5% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 8.9% | |||
Entertainment - 0.7% | |||
Netflix, Inc. (a) | 780,128 | 308,330 | |
Roku, Inc. Class A (a)(b) | 423,243 | 24,633 | |
The Walt Disney Co. (a) | 140,401 | 12,350 | |
345,313 | |||
Interactive Media & Services - 7.7% | |||
Alphabet, Inc.: | |||
Class A (a) | 17,380,951 | 2,135,597 | |
Class C (a) | 9,640,566 | 1,189,357 | |
Epic Games, Inc. (a)(c)(d) | 51,800 | 36,465 | |
Meta Platforms, Inc. Class A (a) | 879,358 | 232,784 | |
Snap, Inc. Class A (a) | 1,254,271 | 12,794 | |
3,606,997 | |||
Media - 0.0% | |||
The Trade Desk, Inc. (a) | 53,241 | 3,731 | |
Wireless Telecommunication Services - 0.5% | |||
T-Mobile U.S., Inc. (a) | 1,605,317 | 220,330 | |
TOTAL COMMUNICATION SERVICES | 4,176,371 | ||
CONSUMER DISCRETIONARY - 17.5% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (b) | 306,190 | 13,647 | |
Automobiles - 1.8% | |||
Neutron Holdings, Inc. (a)(c)(d) | 1,546,251 | 40 | |
Rad Power Bikes, Inc. (a)(c)(d) | 1,182,568 | 2,483 | |
Rivian Automotive, Inc. (a)(b) | 6,424,913 | 94,639 | |
Tesla, Inc. (a) | 3,522,239 | 718,290 | |
815,452 | |||
Broadline Retail - 6.0% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 348,476 | 27,721 | |
Amazon.com, Inc. (a) | 21,553,723 | 2,598,948 | |
Etsy, Inc. (a) | 80,903 | 6,557 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 2,372,090 | 130,750 | |
Ozon Holdings PLC ADR (a)(b)(d) | 20,942 | 180 | |
PDD Holdings, Inc. ADR (a) | 85,124 | 5,560 | |
Vipshop Holdings Ltd. ADR (a) | 1,115,355 | 15,972 | |
2,785,688 | |||
Hotels, Restaurants & Leisure - 1.3% | |||
Airbnb, Inc. Class A (a) | 251,090 | 27,562 | |
Booking Holdings, Inc. (a) | 87,807 | 220,288 | |
Chipotle Mexican Grill, Inc. (a) | 38,278 | 79,484 | |
Dutch Bros, Inc. (a)(b) | 127,517 | 3,616 | |
Expedia, Inc. (a) | 180,523 | 17,278 | |
Marriott International, Inc. Class A | 336,909 | 56,530 | |
McDonald's Corp. | 2,739 | 781 | |
Penn Entertainment, Inc. (a) | 2,284,880 | 57,213 | |
Shake Shack, Inc. Class A (a) | 62,982 | 4,168 | |
Sonder Holdings, Inc.: | |||
rights (a)(d) | 53,749 | 4 | |
rights (a)(d) | 53,749 | 3 | |
rights (a)(d) | 53,749 | 2 | |
rights (a)(d) | 53,749 | 2 | |
rights (a)(d) | 53,749 | 1 | |
rights (a)(d) | 53,748 | 1 | |
Starbucks Corp. | 474,148 | 46,296 | |
Sweetgreen, Inc. Class A (a) | 1,321,505 | 12,594 | |
Trip.com Group Ltd. ADR (a) | 692,119 | 21,857 | |
Yum China Holdings, Inc. | 502,672 | 28,381 | |
Zomato Ltd. (a) | 12,137,800 | 10,136 | |
586,197 | |||
Household Durables - 0.4% | |||
Lennar Corp. Class A | 1,469,990 | 157,465 | |
Purple Innovation, Inc. (b) | 3,416,406 | 11,821 | |
Toll Brothers, Inc. | 100,353 | 6,794 | |
176,080 | |||
Specialty Retail - 2.5% | |||
Fanatics, Inc. Class A (a)(c)(d) | 730,532 | 52,635 | |
Farfetch Ltd. Class A (a)(b) | 715,500 | 3,527 | |
Five Below, Inc. (a) | 196,707 | 33,936 | |
Floor & Decor Holdings, Inc. Class A (a) | 162,039 | 14,796 | |
Lowe's Companies, Inc. | 1,277,646 | 256,973 | |
Revolve Group, Inc. (a)(b) | 1,845,413 | 28,087 | |
RH (a) | 123,676 | 30,298 | |
Ross Stores, Inc. | 190,731 | 19,764 | |
RumbleON, Inc. Class B (a) | 564,959 | 6,169 | |
The Home Depot, Inc. | 1,020,294 | 289,202 | |
TJX Companies, Inc. | 4,022,813 | 308,912 | |
Tractor Supply Co. | 7,700 | 1,614 | |
Wayfair LLC Class A (a) | 3,463,654 | 139,655 | |
1,185,568 | |||
Textiles, Apparel & Luxury Goods - 5.5% | |||
Canada Goose Holdings, Inc. (a)(b) | 1,672,844 | 26,630 | |
Crocs, Inc. (a) | 465,470 | 52,263 | |
Deckers Outdoor Corp. (a) | 597,293 | 283,714 | |
Li Ning Co. Ltd. | 1,591,643 | 8,537 | |
lululemon athletica, Inc. (a) | 4,695,960 | 1,558,730 | |
NIKE, Inc. Class B | 1,176,817 | 123,872 | |
On Holding AG (a)(b) | 4,857,758 | 133,345 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 7,003,239 | 359,756 | |
Tory Burch LLC: | |||
Class A (a)(c)(d)(e) | 950,844 | 27,583 | |
Class B (a)(c)(d)(e) | 324,840 | 10,190 | |
2,584,620 | |||
TOTAL CONSUMER DISCRETIONARY | 8,147,252 | ||
CONSUMER STAPLES - 3.1% | |||
Beverages - 1.3% | |||
Celsius Holdings, Inc. (a) | 384,999 | 48,329 | |
Keurig Dr. Pepper, Inc. | 1,845,872 | 57,444 | |
Monster Beverage Corp. | 2,578,307 | 151,140 | |
PepsiCo, Inc. | 617,743 | 112,645 | |
The Coca-Cola Co. | 4,092,453 | 244,156 | |
613,714 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Costco Wholesale Corp. | 345,835 | 176,915 | |
Dollar General Corp. | 281,504 | 56,608 | |
Dollar Tree, Inc. (a) | 284,004 | 38,306 | |
Kroger Co. | 601,990 | 27,288 | |
Sysco Corp. | 323,975 | 22,662 | |
Target Corp. | 157,434 | 20,613 | |
Walmart, Inc. | 294,790 | 43,296 | |
385,688 | |||
Food Products - 0.3% | |||
Bunge Ltd. | 505,666 | 46,845 | |
Kellogg Co. | 313,830 | 20,954 | |
Mondelez International, Inc. | 246,095 | 18,066 | |
The Hershey Co. | 158,966 | 41,283 | |
The Real Good Food Co. LLC: | |||
Class B (a)(d) | 616,906 | 0 | |
Class B unit (f) | 616,906 | 2,178 | |
The Real Good Food Co., Inc. (a) | 60,776 | 215 | |
129,541 | |||
Household Products - 0.3% | |||
Church & Dwight Co., Inc. | 164,345 | 15,194 | |
Colgate-Palmolive Co. | 276,757 | 20,585 | |
Procter & Gamble Co. | 644,054 | 91,778 | |
The Clorox Co. | 12,000 | 1,898 | |
129,455 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 316,800 | 7,949 | |
Olaplex Holdings, Inc. (a) | 3,815,695 | 12,058 | |
The Beauty Health Co. (a)(b) | 649,977 | 5,226 | |
The Beauty Health Co. (a)(c) | 2,884,717 | 23,193 | |
48,426 | |||
Tobacco - 0.3% | |||
JUUL Labs, Inc. Class A (a)(c)(d) | 44,067 | 416 | |
Philip Morris International, Inc. | 1,698,974 | 152,925 | |
153,341 | |||
TOTAL CONSUMER STAPLES | 1,460,165 | ||
ENERGY - 1.5% | |||
Energy Equipment & Services - 0.2% | |||
Baker Hughes Co. Class A | 730,698 | 19,912 | |
Halliburton Co. | 2,353,922 | 67,440 | |
Schlumberger Ltd. | 315,399 | 13,509 | |
100,861 | |||
Oil, Gas & Consumable Fuels - 1.3% | |||
Cameco Corp. | 1,550,659 | 43,170 | |
Devon Energy Corp. | 64,810 | 2,988 | |
EOG Resources, Inc. | 348,005 | 37,337 | |
EQT Corp. (b) | 359,641 | 12,505 | |
Hess Corp. | 2,631,086 | 333,280 | |
Pioneer Natural Resources Co. | 12,513 | 2,496 | |
Range Resources Corp. | 3,086,085 | 84,466 | |
Reliance Industries Ltd. | 2,336,538 | 69,791 | |
Valero Energy Corp. | 171,807 | 18,390 | |
604,423 | |||
TOTAL ENERGY | 705,284 | ||
FINANCIALS - 3.0% | |||
Banks - 0.4% | |||
Bank of America Corp. | 2,375,025 | 66,002 | |
HDFC Bank Ltd. sponsored ADR | 1,119,505 | 72,096 | |
JPMorgan Chase & Co. | 254,653 | 34,559 | |
Wells Fargo & Co. | 87,789 | 3,495 | |
176,152 | |||
Capital Markets - 0.3% | |||
BlackRock, Inc. Class A | 113,992 | 74,955 | |
Charles Schwab Corp. | 892,673 | 47,035 | |
121,990 | |||
Financial Services - 2.3% | |||
Ant International Co. Ltd. Class C (a)(c)(d) | 2,440,816 | 3,759 | |
Block, Inc. Class A (a) | 102,666 | 6,200 | |
MasterCard, Inc. Class A | 1,153,652 | 421,106 | |
PayPal Holdings, Inc. (a) | 374,623 | 23,223 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(c)(d) | 87,212 | 225 | |
Toast, Inc. (a)(b) | 5,370,127 | 112,612 | |
Visa, Inc. Class A | 2,382,348 | 526,570 | |
1,093,695 | |||
TOTAL FINANCIALS | 1,391,837 | ||
HEALTH CARE - 13.8% | |||
Biotechnology - 7.3% | |||
4D Pharma PLC (a)(b)(d) | 2,450,213 | 508 | |
AbbVie, Inc. | 368,981 | 50,905 | |
Absci Corp. (a) | 3,979,617 | 7,561 | |
ACADIA Pharmaceuticals, Inc. (a) | 1,753,832 | 41,215 | |
Acelyrin, Inc. (a)(b) | 477,300 | 8,639 | |
Akouos, Inc. (CVR) (d) | 1,254,446 | 966 | |
Alector, Inc. (a) | 1,827,872 | 13,599 | |
Allovir, Inc. (a)(b) | 2,006,206 | 7,563 | |
Alnylam Pharmaceuticals, Inc. (a) | 2,012,490 | 372,331 | |
Ambrx Biopharma, Inc. ADR (a) | 8,243 | 122 | |
Amgen, Inc. | 335,961 | 74,130 | |
Apellis Pharmaceuticals, Inc. (a) | 232,028 | 19,920 | |
Arcutis Biotherapeutics, Inc. (a) | 350,795 | 2,634 | |
Argenx SE ADR (a) | 681,258 | 264,805 | |
Arrowhead Pharmaceuticals, Inc. (a) | 87,546 | 3,012 | |
Ars Pharmaceuticals, Inc. (a)(b) | 1,306,645 | 9,094 | |
Ascendis Pharma A/S sponsored ADR (a) | 57,765 | 5,024 | |
aTyr Pharma, Inc. (a) | 1,933,536 | 4,389 | |
Avidity Biosciences, Inc. (a) | 1,307,524 | 13,886 | |
Axcella Health, Inc. (a)(b) | 3,129,933 | 1,226 | |
Beam Therapeutics, Inc. (a)(b) | 702,130 | 22,398 | |
BeiGene Ltd. ADR (a) | 505,220 | 111,618 | |
Biomea Fusion, Inc. (a)(b) | 1,646,549 | 55,917 | |
BioNTech SE ADR | 65,813 | 6,916 | |
BioXcel Therapeutics, Inc. (a)(b) | 1,336,179 | 23,971 | |
Calyxt, Inc. (a) | 28,416 | 179 | |
Caris Life Sciences, Inc. (c)(d) | 926,826 | 5,190 | |
Century Therapeutics, Inc. (a) | 1,181,012 | 3,756 | |
Cerevel Therapeutics Holdings (a) | 5,662,274 | 184,590 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 380,700 | 0 | |
CRISPR Therapeutics AG (a)(b) | 577,961 | 37,013 | |
Cyclerion Therapeutics, Inc. (a) | 21,323 | 93 | |
Cyclerion Therapeutics, Inc. (a)(c) | 27,184 | 118 | |
Day One Biopharmaceuticals, Inc. (a) | 409,941 | 5,452 | |
Denali Therapeutics, Inc. (a) | 220,551 | 6,665 | |
Deverra Therapeutics, Inc. (a)(d) | 59,780 | 0 | |
Disc Medicine, Inc. rights (a)(d) | 128,509 | 0 | |
EQRx, Inc. (a)(g) | 7,908,645 | 13,919 | |
EQRx, Inc.: | |||
rights (a)(d)(g) | 441,931 | 137 | |
rights (a)(d)(g) | 189,399 | 36 | |
Evelo Biosciences, Inc. (a)(b) | 2,020,976 | 276 | |
Foghorn Therapeutics, Inc. (a) | 921,297 | 5,795 | |
Generation Bio Co. (a) | 2,199,843 | 7,699 | |
Geron Corp. (a) | 926,655 | 3,030 | |
Idorsia Ltd. (a)(b) | 511,733 | 4,189 | |
Immunocore Holdings PLC ADR (a) | 175,308 | 9,673 | |
ImmunoGen, Inc. (a) | 1,189,600 | 16,226 | |
Immunovant, Inc. (a) | 1,557,625 | 32,726 | |
Inhibrx, Inc. (a)(b) | 380,762 | 9,009 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(d) | 156,370 | 0 | |
Invivyd, Inc. (a)(b) | 4,344,494 | 7,820 | |
Ionis Pharmaceuticals, Inc. (a) | 6,869,725 | 280,972 | |
Janux Therapeutics, Inc. (a) | 477,845 | 5,553 | |
Karuna Therapeutics, Inc. (a) | 1,230,750 | 278,826 | |
Kineta, Inc. (b) | 30,601 | 92 | |
Legend Biotech Corp. ADR (a) | 1,683,757 | 108,047 | |
Lexicon Pharmaceuticals, Inc. (a) | 1,737,974 | 5,735 | |
Lyell Immunopharma, Inc. (a)(b) | 909,761 | 2,902 | |
Madrigal Pharmaceuticals, Inc. (a) | 12,300 | 3,424 | |
Magenta Therapeutics, Inc. (d)(h) | 954,166 | 4,275 | |
Moderna, Inc. (a) | 749,634 | 95,736 | |
Monte Rosa Therapeutics, Inc. (a) | 851,336 | 6,283 | |
Moonlake Immunotherapeutics (a)(b) | 10,800 | 294 | |
Morphic Holding, Inc. (a) | 1,258,540 | 72,366 | |
Nuvalent, Inc. Class A (a) | 1,248,461 | 52,560 | |
Omega Therapeutics, Inc. (a) | 1,577,224 | 11,971 | |
ORIC Pharmaceuticals, Inc. (a)(b) | 937,503 | 4,725 | |
Poseida Therapeutics, Inc. (a) | 2,734,605 | 6,208 | |
Prothena Corp. PLC (a) | 2,073,735 | 137,758 | |
PTC Therapeutics, Inc. (a) | 981,740 | 41,204 | |
RAPT Therapeutics, Inc. (a) | 828,701 | 16,599 | |
Recursion Pharmaceuticals, Inc. (a)(b) | 1,418,371 | 12,439 | |
Regeneron Pharmaceuticals, Inc. (a) | 262,780 | 193,290 | |
Relay Therapeutics, Inc. (a)(b) | 695,783 | 7,751 | |
Roivant Sciences Ltd. (a) | 8,653,176 | 78,657 | |
Sage Therapeutics, Inc. (a) | 2,406,427 | 119,118 | |
Sana Biotechnology, Inc. (a)(b) | 1,655,031 | 9,963 | |
Scholar Rock Holding Corp. (a) | 1,629,251 | 9,482 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(c) | 167,100 | 261 | |
Seres Therapeutics, Inc. (a)(b) | 5,817,600 | 28,797 | |
Shattuck Labs, Inc. (a) | 1,221,414 | 3,188 | |
Sigilon Therapeutics, Inc. (a)(b) | 28,234 | 119 | |
SpringWorks Therapeutics, Inc. (c) | 457,500 | 11,274 | |
SpringWorks Therapeutics, Inc. (a)(b) | 2,582,738 | 70,715 | |
Synlogic, Inc. (a) | 2,150,765 | 1,129 | |
Tango Therapeutics, Inc. (a) | 974,314 | 2,631 | |
TG Therapeutics, Inc. (a)(b) | 1,397,421 | 37,213 | |
Tyra Biosciences, Inc. (a) | 150,836 | 2,183 | |
uniQure B.V. (a) | 262,392 | 5,062 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 1,915,466 | 91 | |
Vaxcyte, Inc. (a) | 843,135 | 41,752 | |
Vera Therapeutics, Inc. (a) | 798,092 | 6,664 | |
Vertex Pharmaceuticals, Inc. (a) | 168,207 | 54,427 | |
Verve Therapeutics, Inc. (a) | 402,957 | 6,238 | |
Viking Therapeutics, Inc. (a) | 3,236,012 | 71,063 | |
Vor Biopharma, Inc. (a) | 1,442,609 | 6,780 | |
Zai Lab Ltd. ADR (a) | 187,418 | 6,089 | |
Zentalis Pharmaceuticals, Inc. (a) | 661,204 | 17,218 | |
3,415,064 | |||
Health Care Equipment & Supplies - 2.8% | |||
Abbott Laboratories | 49,120 | 5,010 | |
Blink Health LLC Series A1 (a)(c)(d) | 173,460 | 8,307 | |
Boston Scientific Corp. (a) | 35,000 | 1,802 | |
DexCom, Inc. (a) | 891,659 | 104,556 | |
Figs, Inc. Class A (a) | 387,767 | 3,195 | |
Inspire Medical Systems, Inc. (a) | 19,700 | 5,762 | |
Insulet Corp. (a) | 1,644,686 | 451,055 | |
Intuitive Surgical, Inc. (a) | 611,372 | 188,205 | |
Novocure Ltd. (a) | 4,663,609 | 334,894 | |
Oddity Tech Ltd. (a)(c)(d) | 10,306 | 4,663 | |
Outset Medical, Inc. (a) | 1,467,024 | 30,558 | |
Penumbra, Inc. (a) | 9,003 | 2,767 | |
Presbia PLC (a)(d)(g) | 1,099,338 | 0 | |
PROCEPT BioRobotics Corp. (a) | 1,101,188 | 36,835 | |
Shockwave Medical, Inc. (a) | 477,942 | 131,477 | |
1,309,086 | |||
Health Care Providers & Services - 1.0% | |||
Alignment Healthcare, Inc. (a) | 1,553,399 | 9,118 | |
Guardant Health, Inc. (a) | 308,977 | 9,059 | |
Humana, Inc. | 218,098 | 109,457 | |
McKesson Corp. | 67,974 | 26,567 | |
The Oncology Institute, Inc. (a)(c) | 1,815,080 | 776 | |
UnitedHealth Group, Inc. | 612,167 | 298,272 | |
453,249 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(c)(d) | 463 | 326 | |
DNA Script (a)(c)(d) | 1,769 | 1,246 | |
1,572 | |||
Life Sciences Tools & Services - 0.6% | |||
10X Genomics, Inc. Class B (a)(f) | 2,070,040 | 108,594 | |
Akoya Biosciences, Inc. (a) | 55,078 | 310 | |
Danaher Corp. | 74,549 | 17,118 | |
Gerresheimer AG | 62,100 | 6,824 | |
Olink Holding AB ADR (a) | 1,444,969 | 28,148 | |
Seer, Inc. (a) | 847,473 | 3,119 | |
Thermo Fisher Scientific, Inc. | 117,041 | 59,511 | |
WuXi AppTec Co. Ltd. (H Shares) (f) | 1,057,844 | 8,714 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 5,488,728 | 28,073 | |
260,411 | |||
Pharmaceuticals - 2.1% | |||
Adimab LLC (a)(c)(d)(e) | 3,162,765 | 126,036 | |
Arvinas Holding Co. LLC (a) | 171,249 | 3,738 | |
Atea Pharmaceuticals, Inc. (a) | 2,690,529 | 10,735 | |
Bristol-Myers Squibb Co. | 329,887 | 21,258 | |
DICE Therapeutics, Inc. (a) | 259,832 | 8,213 | |
Dragonfly Therapeutics, Inc. (a)(c)(d) | 481,725 | 10,718 | |
Eli Lilly & Co. | 785,948 | 337,533 | |
Fulcrum Therapeutics, Inc. (a) | 1,131,306 | 3,077 | |
GH Research PLC (a) | 794,034 | 8,893 | |
Harmony Biosciences Holdings, Inc. (a) | 1,765,884 | 61,064 | |
Intra-Cellular Therapies, Inc. (a) | 2,933,339 | 174,182 | |
Merck & Co., Inc. | 100,184 | 11,061 | |
Novo Nordisk A/S Series B sponsored ADR | 600,760 | 96,398 | |
Nuvation Bio, Inc. (a) | 5,365,339 | 8,692 | |
OptiNose, Inc. (a) | 4,749,009 | 5,936 | |
OptiNose, Inc. warrants (a) | 706,724 | 218 | |
Pfizer, Inc. | 82,735 | 3,146 | |
Pharvaris BV (a) | 129,632 | 1,108 | |
Pliant Therapeutics, Inc. (a) | 1,343,783 | 29,066 | |
Sienna Biopharmaceuticals, Inc. (a)(d) | 1,424,370 | 0 | |
Skyhawk Therapeutics, Inc. (a)(c)(d) | 603,195 | 6,931 | |
Theravance Biopharma, Inc. (a)(b) | 346,922 | 3,879 | |
UCB SA | 620,251 | 54,047 | |
Ventyx Biosciences, Inc. (a) | 380,675 | 13,122 | |
999,051 | |||
TOTAL HEALTH CARE | 6,438,433 | ||
INDUSTRIALS - 4.2% | |||
Aerospace & Defense - 1.1% | |||
AeroVironment, Inc. (a) | 113,052 | 10,560 | |
Lockheed Martin Corp. | 203,756 | 90,470 | |
Raytheon Technologies Corp. | 431,643 | 39,772 | |
Space Exploration Technologies Corp. Class A (a)(c)(d) | 4,182,100 | 322,022 | |
The Boeing Co. (a) | 314,047 | 64,599 | |
527,423 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. | 2,269,100 | 9,582 | |
United Parcel Service, Inc. Class B | 164,609 | 27,490 | |
37,072 | |||
Construction & Engineering - 0.1% | |||
Fluor Corp. (a) | 1,278,692 | 33,962 | |
MasTec, Inc. (a) | 144,086 | 14,605 | |
Quanta Services, Inc. | 113,932 | 20,232 | |
68,799 | |||
Electrical Equipment - 0.3% | |||
Eaton Corp. PLC | 200,458 | 35,261 | |
Emerson Electric Co. | 542,745 | 42,160 | |
Fluence Energy, Inc. (a)(b) | 96,704 | 2,398 | |
Generac Holdings, Inc. (a) | 333,593 | 36,335 | |
Nextracker, Inc. Class A (b) | 168,461 | 6,444 | |
NuScale Power Corp. (a)(b) | 849,079 | 6,368 | |
128,966 | |||
Ground Transportation - 1.4% | |||
Avis Budget Group, Inc. (a) | 1,618,219 | 271,521 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(d) | 133,323 | 0 | |
Stage 2 rights (a)(d) | 133,322 | 0 | |
Stage 3 rights (a)(d) | 133,322 | 0 | |
Hertz Global Holdings, Inc. (a)(b) | 119,324 | 1,871 | |
Lyft, Inc. (a) | 1,838,307 | 16,582 | |
Uber Technologies, Inc. (a) | 6,511,104 | 246,966 | |
Union Pacific Corp. | 749,288 | 144,253 | |
681,193 | |||
Industrial Conglomerates - 0.0% | |||
General Electric Co. | 35,000 | 3,554 | |
Honeywell International, Inc. | 89,890 | 17,223 | |
20,777 | |||
Machinery - 0.5% | |||
Caterpillar, Inc. | 303,135 | 62,370 | |
Deere & Co. | 313,446 | 108,446 | |
Fortive Corp. | 94,001 | 6,120 | |
Illinois Tool Works, Inc. | 136,018 | 29,751 | |
Ingersoll Rand, Inc. | 181,090 | 10,261 | |
216,948 | |||
Passenger Airlines - 0.6% | |||
Delta Air Lines, Inc. (a) | 1,760,608 | 63,963 | |
Ryanair Holdings PLC sponsored ADR (a) | 22,613 | 2,376 | |
Southwest Airlines Co. (b) | 1,751,022 | 52,303 | |
Spirit Airlines, Inc. | 1,666,271 | 25,344 | |
United Airlines Holdings, Inc. (a) | 1,177,214 | 55,876 | |
Wheels Up Experience, Inc.: | |||
rights (a)(d) | 80,889 | 5 | |
rights (a)(d) | 80,889 | 3 | |
rights (a)(d) | 80,890 | 2 | |
Wizz Air Holdings PLC (a)(f) | 1,984,956 | 68,545 | |
268,417 | |||
Professional Services - 0.1% | |||
LegalZoom.com, Inc. (a) | 401,951 | 4,498 | |
Paycom Software, Inc. | 47,486 | 13,302 | |
Paylocity Holding Corp. (a) | 75,272 | 13,003 | |
30,803 | |||
TOTAL INDUSTRIALS | 1,980,398 | ||
INFORMATION TECHNOLOGY - 44.6% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 387,365 | 64,434 | |
Ciena Corp. (a) | 2,669,881 | 124,790 | |
Infinera Corp. (a)(b) | 10,555,702 | 51,723 | |
240,947 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a)(b) | 345,268 | 12,761 | |
TE Connectivity Ltd. | 12,074 | 1,479 | |
14,240 | |||
IT Services - 1.3% | |||
Accenture PLC Class A | 334,884 | 102,448 | |
Cloudflare, Inc. (a)(b) | 3,728,520 | 257,864 | |
IBM Corp. | 329,332 | 42,349 | |
MongoDB, Inc. Class A (a) | 23,538 | 6,915 | |
Okta, Inc. (a) | 318,325 | 28,936 | |
Shopify, Inc. Class A (a) | 1,923,511 | 110,055 | |
Snowflake, Inc. (a)(b) | 210,825 | 34,862 | |
Twilio, Inc. Class A (a) | 44,091 | 3,070 | |
X Holdings Corp. Class A (d) | 90,280 | 3,154 | |
589,653 | |||
Semiconductors & Semiconductor Equipment - 16.9% | |||
Advanced Micro Devices, Inc. (a) | 2,374,552 | 280,696 | |
Allegro MicroSystems LLC (a) | 57,806 | 2,274 | |
Applied Materials, Inc. | 1,356,911 | 180,876 | |
ASML Holding NV (depository receipt) | 66,982 | 48,423 | |
Broadcom, Inc. | 116,012 | 93,733 | |
Cirrus Logic, Inc. (a) | 1,619,918 | 125,835 | |
Enphase Energy, Inc. (a) | 218,860 | 38,055 | |
First Solar, Inc. (a) | 593,664 | 120,490 | |
GlobalFoundries, Inc. (a) | 224,800 | 13,113 | |
Impinj, Inc. (a) | 300,820 | 30,786 | |
KLA Corp. | 171,067 | 75,781 | |
Lam Research Corp. | 42,192 | 26,020 | |
Lattice Semiconductor Corp. (a) | 180,055 | 14,640 | |
Marvell Technology, Inc. | 3,095,405 | 181,050 | |
Micron Technology, Inc. | 428,882 | 29,250 | |
Monolithic Power Systems, Inc. | 108,105 | 52,962 | |
NVIDIA Corp. | 16,025,650 | 6,063,142 | |
onsemi (a) | 481,531 | 40,256 | |
Qualcomm, Inc. | 442,793 | 50,217 | |
Silicon Laboratories, Inc. (a) | 1,573,794 | 221,386 | |
SiTime Corp. (a) | 520,522 | 51,620 | |
SolarEdge Technologies, Inc. (a) | 28,087 | 8,000 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 336,387 | 33,164 | |
Teradyne, Inc. | 208,247 | 20,864 | |
Texas Instruments, Inc. | 384,033 | 66,776 | |
Wolfspeed, Inc. (a)(b) | 361,118 | 17,348 | |
7,886,757 | |||
Software - 12.5% | |||
Adobe, Inc. (a) | 594,691 | 248,456 | |
Atlassian Corp. PLC (a) | 22,884 | 4,137 | |
Autodesk, Inc. (a) | 336,145 | 67,024 | |
Bill Holdings, Inc. (a) | 91,774 | 9,506 | |
Clear Secure, Inc. (b) | 2,298 | 57 | |
Confluent, Inc. (a) | 449,900 | 14,280 | |
Crowdstrike Holdings, Inc. (a) | 283,711 | 45,431 | |
Datadog, Inc. Class A (a) | 174,092 | 16,523 | |
Elastic NV (a) | 155,365 | 11,314 | |
Freshworks, Inc. (a) | 233,000 | 3,672 | |
HubSpot, Inc. (a) | 154,652 | 80,108 | |
Intuit, Inc. | 231,253 | 96,923 | |
Microsoft Corp. | 10,243,861 | 3,363,982 | |
Nutanix, Inc. Class A (a)(g) | 11,919,987 | 353,070 | |
Oracle Corp. | 3,569,908 | 378,196 | |
Palantir Technologies, Inc. (a) | 120,600 | 1,774 | |
Palo Alto Networks, Inc. (a) | 11,300 | 2,411 | |
Pine Labs Private Ltd. (a)(c)(d) | 4,120 | 2,060 | |
RingCentral, Inc. (a)(b) | 149,516 | 5,188 | |
Salesforce, Inc. (a) | 3,746,931 | 836,989 | |
Samsara, Inc. (a)(b) | 201,172 | 3,873 | |
SentinelOne, Inc. (a)(b) | 237,158 | 5,070 | |
ServiceNow, Inc. (a) | 200,820 | 109,403 | |
Stripe, Inc. Class B (a)(c)(d) | 205,500 | 4,137 | |
UiPath, Inc. Class A (a) | 4,120,895 | 73,723 | |
Workday, Inc. Class A (a) | 96,130 | 20,379 | |
Zoom Video Communications, Inc. Class A (a) | 592,865 | 39,799 | |
Zscaler, Inc. (a)(b) | 224,953 | 30,477 | |
5,827,962 | |||
Technology Hardware, Storage & Peripherals - 13.4% | |||
Apple, Inc. | 32,922,435 | 5,835,502 | |
Pure Storage, Inc. Class A (a) | 13,657,668 | 393,204 | |
Samsung Electronics Co. Ltd. | 412,305 | 22,259 | |
6,250,965 | |||
TOTAL INFORMATION TECHNOLOGY | 20,810,524 | ||
MATERIALS - 0.7% | |||
Chemicals - 0.3% | |||
Albemarle Corp. (b) | 99,348 | 19,227 | |
CF Industries Holdings, Inc. | 418,791 | 25,760 | |
Cibus Corp.: | |||
Series C (a)(c)(d)(e) | 4,523,810 | 9,048 | |
Series D (a)(c)(d)(e) | 2,741,040 | 5,482 | |
Series E (a)(c)(d)(e) | 412,624 | 825 | |
Series F (a)(c)(d)(e) | 1,093,220 | 2,186 | |
Corteva, Inc. | 1,410,253 | 75,434 | |
The Mosaic Co. (b) | 766,032 | 24,482 | |
162,444 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 192,503 | 7,286 | |
Metals & Mining - 0.4% | |||
Barrick Gold Corp. (Canada) | 463,979 | 7,841 | |
Freeport-McMoRan, Inc. | 4,685,996 | 160,917 | |
Rio Tinto PLC sponsored ADR | 174,029 | 10,276 | |
179,034 | |||
TOTAL MATERIALS | 348,764 | ||
REAL ESTATE - 0.1% | |||
Equity Real Estate Investment Trusts (REITs) - 0.1% | |||
American Tower Corp. | 214,472 | 39,557 | |
Equinix, Inc. | 14,439 | 10,765 | |
50,322 | |||
Real Estate Management & Development - 0.0% | |||
CBRE Group, Inc. (a) | 61,534 | 4,610 | |
TOTAL REAL ESTATE | 54,932 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (f) | 258,657 | 22,648 | |
TOTAL COMMON STOCKS (Cost $16,916,028) | 45,536,608 | ||
Preferred Stocks - 2.3% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 2.2% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(c)(d) | 403,450 | 85,608 | |
Reddit, Inc.: | |||
Series B(a)(c)(d) | 384,303 | 12,955 | |
Series E(a)(c)(d) | 24,203 | 816 | |
Series F(a)(c)(d) | 114,996 | 3,877 | |
103,256 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(c)(d) | 154,174 | 324 | |
Series C(a)(c)(d) | 606,658 | 1,274 | |
Series D(a)(c)(d) | 1,071,300 | 2,250 | |
3,848 | |||
Broadline Retail - 0.0% | |||
Meesho Series F (a)(c)(d) | 309,354 | 21,413 | |
Hotels, Restaurants & Leisure - 0.1% | |||
Discord, Inc. Series I (a)(c)(d) | 7,000 | 2,044 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(c)(d)(e) | 56,343 | 15,896 | |
Series 4(a)(c)(d)(e) | 5,142 | 1,390 | |
Series 5(a)(c)(d)(e) | 20,652 | 5,250 | |
24,580 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Freenome, Inc.: | |||
Series C(a)(c)(d) | 900,884 | 7,018 | |
Series D(a)(c)(d) | 502,404 | 4,110 | |
Laronde, Inc. Series B (a)(c)(d) | 344,496 | 6,470 | |
17,598 | |||
TOTAL CONSUMER DISCRETIONARY | 67,439 | ||
CONSUMER STAPLES - 0.1% | |||
Consumer Staples Distribution & Retail - 0.1% | |||
GoBrands, Inc.: | |||
Series G(a)(c)(d) | 125,688 | 10,819 | |
Series H(a)(c)(d) | 104,311 | 8,979 | |
Instacart, Inc.: | |||
Series H(a)(c)(d) | 72,310 | 2,961 | |
Series I(a)(c)(d) | 32,756 | 1,341 | |
24,100 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(c)(d) | 1,060,308 | 5,439 | |
Series D(a)(c)(d) | 852,431 | 4,322 | |
Bowery Farming, Inc. Series C1 (a)(c)(d) | 130,916 | 1,220 | |
10,981 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(c)(d) | 22,033 | 208 | |
TOTAL CONSUMER STAPLES | 35,289 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(c)(d) | 416,094 | 4,440 | |
Series C(a)(c)(d) | 559,977 | 6,053 | |
Series D1(c)(d) | 754,242 | 8,176 | |
Series D2(c)(d) | 138,091 | 1,415 | |
Saluda Medical, Inc.: | |||
Series D(c)(d) | 581,414 | 6,750 | |
Series E(c)(d) | 799,565 | 6,444 | |
33,278 | |||
HEALTH CARE - 0.9% | |||
Biotechnology - 0.7% | |||
Altos Labs, Inc. Series B (c)(d) | 485,428 | 9,296 | |
Ankyra Therapeutics Series B (a)(c)(d) | 1,356,730 | 5,685 | |
Apogee Therapeutics Series B (c)(d) | 1,648,084 | 5,439 | |
Asimov, Inc. Series B (a)(c)(d) | 82,174 | 3,976 | |
Bright Peak Therapeutics AG Series B (a)(c)(d) | 1,272,915 | 3,539 | |
Caris Life Sciences, Inc. Series D (a)(c)(d) | 1,235,035 | 6,916 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(c)(d) | 19,720 | 4,185 | |
Series D2(a)(c)(d) | 6,341 | 1,196 | |
Cleerly, Inc. Series C (c)(d) | 983,054 | 11,482 | |
Deep Genomics, Inc. Series C (a)(c)(d) | 682,293 | 7,150 | |
Dianthus Therapeutics, Inc. Series A (a)(c)(d) | 1,162,827 | 5,175 | |
Element Biosciences, Inc.: | |||
Series B(a)(c)(d) | 1,096,312 | 18,034 | |
Series C(a)(c)(d) | 480,109 | 7,898 | |
ElevateBio LLC Series C (a)(c)(d) | 1,534,100 | 6,443 | |
Fog Pharmaceuticals, Inc. Series D (c)(d) | 883,504 | 9,604 | |
Generate Biomedicines Series B (a)(c)(d) | 820,747 | 8,265 | |
Inscripta, Inc.: | |||
Series D(a)(c)(d) | 1,690,173 | 7,149 | |
Series E(a)(c)(d) | 1,086,476 | 4,596 | |
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(a)(c)(d) | 1,436,500 | 3,175 | |
Series B2(a)(c)(d) | 1,348,657 | 3,034 | |
LifeMine Therapeutics, Inc. Series C (a)(c)(d) | 7,794,524 | 14,342 | |
National Resilience, Inc.: | |||
Series B(a)(c)(d) | 1,277,345 | 77,573 | |
Series C(a)(c)(d) | 379,000 | 23,017 | |
Odyssey Therapeutics, Inc. Series B (c)(d) | 1,298,749 | 8,221 | |
Quell Therapeutics Ltd. Series B (a)(c)(d) | 3,870,630 | 7,819 | |
SalioGen Therapeutics, Inc. Series B (a)(c)(d) | 51,683 | 3,484 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(c)(d) | 2,497,760 | 6,469 | |
Series B1(a)(c)(d) | 1,332,116 | 3,943 | |
T-Knife Therapeutics, Inc. Series B (a)(c)(d) | 995,165 | 3,921 | |
Treeline Biosciences: | |||
Series A(a)(c)(d) | 1,347,260 | 10,509 | |
Series A1(c)(d) | 464,216 | 3,718 | |
295,253 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(c)(d) | 927,374 | 44,412 | |
Kardium, Inc. Series D6 (a)(c)(d) | 5,899,008 | 5,840 | |
50,252 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(c)(d) | 2,899,016 | 2,493 | |
Series C(c)(d) | 7,224,897 | 5,057 | |
Conformal Medical, Inc.: | |||
Series C(a)(c)(d) | 1,067,180 | 4,674 | |
Series D(c)(d) | 82,803 | 421 | |
Scorpion Therapeutics, Inc. Series B (a)(c)(d) | 1,325,354 | 2,346 | |
14,991 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(c)(d) | 101,470 | 5,086 | |
Series E1(c)(d) | 66,006 | 3,308 | |
DNA Script: | |||
Series B(a)(c)(d) | 22 | 15 | |
Series C(a)(c)(d) | 10,882 | 7,667 | |
Omada Health, Inc. Series E (a)(c)(d) | 2,558,060 | 8,288 | |
PrognomIQ, Inc.: | |||
Series A5(a)(c)(d) | 372,687 | 652 | |
Series B(a)(c)(d) | 1,111,446 | 2,723 | |
Series C(a)(c)(d) | 290,995 | 809 | |
Wugen, Inc. Series B (a)(c)(d) | 493,529 | 2,468 | |
31,016 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(c)(d) | 16,803 | 3,309 | |
Series C(a)(c)(d) | 13,100 | 3,068 | |
Galvanize Therapeutics Series B (a)(c)(d) | 4,342,265 | 7,338 | |
Nohla Therapeutics, Inc. Series B (a)(c)(d) | 9,124,200 | 0 | |
13,715 | |||
TOTAL HEALTH CARE | 405,227 | ||
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.4% | |||
Space Exploration Technologies Corp. Series G (a)(c)(d) | 216,276 | 166,533 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(c)(d) | 54,111 | 4,439 | |
Series B, 6.00%(a)(c)(d) | 71,156 | 6,192 | |
10,631 | |||
TOTAL INDUSTRIALS | 177,164 | ||
INFORMATION TECHNOLOGY - 0.3% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. Series E (a)(c)(d) | 4,067,736 | 2,359 | |
Menlo Micro, Inc. Series C (a)(c)(d) | 4,423,488 | 4,114 | |
6,473 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(c)(d) | 190,608 | 3,532 | |
Astera Labs, Inc.: | |||
Series A(c)(d) | 316,595 | 2,815 | |
Series B(c)(d) | 53,906 | 479 | |
Series C(a)(c)(d) | 1,811,000 | 16,100 | |
Series D(c)(d) | 1,074,629 | 9,553 | |
GaN Systems, Inc.: | |||
Series F1(a)(c)(d) | 287,190 | 3,196 | |
Series F2(a)(c)(d) | 151,648 | 1,688 | |
Retym, Inc. Series C (c)(d) | 546,059 | 4,249 | |
SiMa.ai: | |||
Series B(a)(c)(d) | 1,596,216 | 9,561 | |
Series B1(a)(c)(d) | 106,922 | 756 | |
Xsight Labs Ltd. Series D (a)(c)(d) | 787,863 | 5,531 | |
57,460 | |||
Software - 0.2% | |||
Bolt Technology OU Series E (a)(c)(d) | 72,621 | 9,386 | |
Databricks, Inc.: | |||
Series G(a)(c)(d) | 250,296 | 12,082 | |
Series H(a)(c)(d) | 273,171 | 13,186 | |
Dataminr, Inc. Series D (a)(c)(d) | 1,773,901 | 24,391 | |
Evozyne LLC Series A (a)(c)(d) | 444,700 | 7,667 | |
Skyryse, Inc. Series B (a)(c)(d) | 568,445 | 11,966 | |
Stripe, Inc. Series H (a)(c)(d) | 88,200 | 1,775 | |
Tenstorrent, Inc. Series C1 (a)(c)(d) | 92,100 | 5,198 | |
85,651 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (c)(d) | 407,933 | 6,713 | |
TOTAL INFORMATION TECHNOLOGY | 156,297 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(c)(d) | 186,833 | 6,429 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(c)(d) | 1,704,625 | 60,463 | |
TOTAL MATERIALS | 66,892 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(c)(d) | 80,057 | 3,674 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,048,516 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(c)(d) | 17,893,728 | 458 | |
Waymo LLC Series A2 (a)(c)(d) | 44,767 | 2,064 | |
2,522 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (a)(c)(d) | 604,608 | 14,819 | |
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(c)(d) | 46,864 | 9,571 | |
Faraday Pharmaceuticals, Inc. Series B (a)(c)(d) | 641,437 | 712 | |
10,283 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Pine Labs Private Ltd.: | |||
Series 1(a)(c)(d) | 9,846 | 4,923 | |
Series A(a)(c)(d) | 2,460 | 1,230 | |
Series B(a)(c)(d) | 2,677 | 1,339 | |
Series B2(a)(c)(d) | 2,165 | 1,083 | |
Series C(a)(c)(d) | 4,028 | 2,014 | |
Series C1(a)(c)(d) | 848 | 424 | |
Series D(a)(c)(d) | 907 | 454 | |
11,467 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 39,091 | ||
TOTAL PREFERRED STOCKS (Cost $993,955) | 1,087,607 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (i) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (c)(d) | 3,596 | 3,704 | |
4% 6/12/27 (c)(d) | 743 | 765 | |
4.5% 10/27/25 (c)(d)(j) | 7,960 | 7,863 | |
(Cost $12,299) | 12,332 | ||
Preferred Securities - 0.1% | |||
Principal Amount (i) (000s) | Value ($) (000s) | ||
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% 7/18/23 (c)(d)(k) | 13,682 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (c)(d)(l) | 8,368 | 8,159 | |
TOTAL HEALTH CARE | 8,159 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
GaN Systems, Inc. 0% (c)(d)(l) | 6,731 | 8,308 | |
Software - 0.0% | |||
Tenstorrent, Inc. 0% (c)(d)(l) | 5,120 | 4,859 | |
TOTAL INFORMATION TECHNOLOGY | 13,167 | ||
TOTAL PREFERRED SECURITIES (Cost $33,901) | 21,326 | ||
Money Market Funds - 0.9% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (m) | 61,234,400 | 61,247 | |
Fidelity Securities Lending Cash Central Fund 5.14% (m)(n) | 332,061,801 | 332,095 | |
TOTAL MONEY MARKET FUNDS (Cost $393,338) | 393,342 | ||
TOTAL INVESTMENT IN SECURITIES - 100.8% (Cost $18,349,521) | 47,051,215 |
NET OTHER ASSETS (LIABILITIES) - (0.8)% | (358,243) |
NET ASSETS - 100.0% | 46,692,972 |
(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 $1,799,860,000 or 3.9% 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 $238,752,000 or 0.5% of net assets. |
(g) | Affiliated company |
(h) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(i) | Amount is stated in United States dollars unless otherwise noted. |
(j) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(k) | Non-income producing - Security is in default. |
(l) | Security is perpetual in nature with no stated maturity date. |
(m) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(n) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (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 |
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 |
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 |
Boundless Bio, Inc. Series C | 4/05/23 | 5,057 |
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 |
Cibus Corp. Series F | 12/02/22 | 2,186 |
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 |
Conformal Medical, Inc. Series D | 5/26/23 | 421 |
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 |
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 |
Lightmatter, Inc. Series C | 5/19/23 | 6,713 |
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% 5/22/27 | 6/04/20 | 3,596 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 743 |
Neutron Holdings, Inc. 4.5% 10/27/25 | 10/29/21 - 4/27/23 | 7,960 |
Nohla Therapeutics, Inc. Series B | 5/01/18 | 3,209 |
Oddity Tech Ltd. | 1/06/22 | 4,436 |
Odyssey Therapeutics, Inc. 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 |
Retym, Inc. Series C | 5/17/23 | 4,249 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 5,471 |
Saluda Medical, Inc. warrants 1/20/27 | 1/20/22 | 0 |
Saluda Medical, Inc. Series D | 1/20/22 | 7,416 |
Saluda Medical, Inc. Series E | 4/06/23 | 6,456 |
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 |
Wugen, Inc. Series B | 7/09/21 | 3,827 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 93,313 | 1,067,664 | 1,099,730 | 1,611 | - | - | 61,247 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.14% | 302,714 | 1,115,300 | 1,085,919 | 1,122 | - | - | 332,095 | 1.2% |
Total | 396,027 | 2,182,964 | 2,185,649 | 2,733 | - | - | 393,342 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
EQRx, Inc. | 24,324 | 4,200 | 586 | - | (380) | (13,639) | 13,919 |
EQRx, Inc. rights | 1,445 | - | - | - | - | (1,308) | 137 |
EQRx, Inc. rights | 504 | - | - | - | - | (468) | 36 |
Kineta, Inc. | 1,011 | - | 255 | 802 | (3,653) | 2,989 | - |
Nutanix, Inc. Class A | 336,414 | 12,100 | 10,828 | - | 1,771 | 13,613 | 353,070 |
Presbia PLC | 16 | - | - | - | - | (16) | - |
Silicon Laboratories, Inc. | 246,398 | 825 | 20,657 | - | 12,113 | (17,293) | - |
Total | 610,112 | 17,125 | 32,326 | 802 | 9,851 | (16,122) | 367,162 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 4,279,627 | 4,139,906 | - | 139,721 |
Consumer Discretionary | 8,217,213 | 8,054,128 | - | 163,085 |
Consumer Staples | 1,495,454 | 1,459,749 | - | 35,705 |
Energy | 705,284 | 705,284 | - | - |
Financials | 1,439,934 | 1,387,853 | - | 52,081 |
Health Care | 6,853,943 | 6,257,250 | 11,844 | 584,849 |
Industrials | 2,157,562 | 1,658,366 | - | 499,196 |
Information Technology | 20,978,288 | 20,801,173 | - | 177,115 |
Materials | 415,656 | 331,223 | - | 84,433 |
Real Estate | 54,932 | 54,932 | - | - |
Utilities | 26,322 | 22,648 | - | 3,674 |
Corporate Bonds | 12,332 | - | - | 12,332 |
Preferred Securities | 21,326 | - | - | 21,326 |
Money Market Funds | 393,342 | 393,342 | - | - |
Total Investments in Securities: | 47,051,215 | 45,265,854 | 11,844 | 1,773,517 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Health Care | |||
Beginning Balance | $ | 418,957 | |
Net Realized Gain (Loss) on Investment Securities | (366) | ||
Net Unrealized Gain (Loss) on Investment Securities | 155,385 | ||
Cost of Purchases | 10,890 | ||
Proceeds of Sales | (17) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 584,849 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | 155,453 | |
Industrials | |||
Beginning Balance | $ | 454,564 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | 44,632 | ||
Cost of Purchases | - | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 499,196 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | 44,632 | |
Other Investments in Securities | |||
Beginning Balance | $ | 826,638 | |
Net Realized Gain (Loss) on Investment Securities | 20 | ||
Net Unrealized Gain (Loss) on Investment Securities | (185,257) | ||
Cost of Purchases | 20,120 | ||
Proceeds of Sales | (1,752) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 29,703 | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 689,472 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | (179,209) | |
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, corporate actions or exchanges. 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. 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) | May 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $319,113) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $17,477,461) | $ | 46,290,711 | ||
Fidelity Central Funds (cost $393,338) | 393,342 | |||
Other affiliated issuers (cost $478,722) | 367,162 | |||
Total Investment in Securities (cost $18,349,521) | $ | 47,051,215 | ||
Cash | 111 | |||
Restricted cash | 702 | |||
Foreign currency held at value (cost $10) | 10 | |||
Receivable for investments sold | 111,507 | |||
Receivable for fund shares sold | 13,066 | |||
Dividends receivable | 24,671 | |||
Interest receivable | 553 | |||
Distributions receivable from Fidelity Central Funds | 449 | |||
Prepaid expenses | 8 | |||
Other receivables | 2,194 | |||
Total assets | 47,204,486 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 60,203 | ||
Delayed delivery | 4,878 | |||
Payable for fund shares redeemed | 76,921 | |||
Accrued management fee | 27,261 | |||
Other affiliated payables | 3,685 | |||
Other payables and accrued expenses | 6,528 | |||
Collateral on securities loaned | 332,038 | |||
Total Liabilities | 511,514 | |||
Net Assets | $ | 46,692,972 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 16,723,235 | ||
Total accumulated earnings (loss) | 29,969,737 | |||
Net Assets | $ | 46,692,972 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Company : | ||||
Net Asset Value , offering price and redemption price per share ($39,199,244 ÷ 1,379,785 shares) | $ | 28.41 | ||
Class K : | ||||
Net Asset Value , offering price and redemption price per share ($7,493,728 ÷ 262,497 shares) | $ | 28.55 |
Statement of Operations | ||||
Amounts in thousands | Six months ended May 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends (including $802 earned from affiliated issuers) | $ | 113,376 | ||
Interest | 1,100 | |||
Income from Fidelity Central Funds (including $1,122 from security lending) | 2,733 | |||
Total Income | 117,209 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 110,977 | ||
Performance adjustment | 51,370 | |||
Transfer agent fees | 20,340 | |||
Accounting fees | 1,053 | |||
Custodian fees and expenses | 264 | |||
Independent trustees' fees and expenses | 140 | |||
Registration fees | 142 | |||
Audit | 147 | |||
Legal | 26 | |||
Interest | 60 | |||
Miscellaneous | 465 | |||
Total expenses before reductions | 184,984 | |||
Expense reductions | (959) | |||
Total expenses after reductions | 184,025 | |||
Net Investment income (loss) | (66,816) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $1,707) | 1,030,452 | |||
Redemptions in-kind | 599,008 | |||
Affiliated issuers | 9,851 | |||
Foreign currency transactions | 358 | |||
Total net realized gain (loss) | 1,639,669 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $2,494) | 4,569,400 | |||
Affiliated issuers | (16,122) | |||
Assets and liabilities in foreign currencies | (209) | |||
Total change in net unrealized appreciation (depreciation) | 4,553,069 | |||
Net gain (loss) | 6,192,738 | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,125,922 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (66,816) | $ | (151,861) |
Net realized gain (loss) | 1,639,669 | 4,914,313 | ||
Change in net unrealized appreciation (depreciation) | 4,553,069 | (24,910,772) | ||
Net increase (decrease) in net assets resulting from operations | 6,125,922 | (20,148,320) | ||
Distributions to shareholders | (2,600,954) | (6,433,347) | ||
Share transactions - net increase (decrease) | 492,272 | (581,831) | ||
Total increase (decrease) in net assets | 4,017,240 | (27,163,498) | ||
Net Assets | ||||
Beginning of period | 42,675,732 | 69,839,230 | ||
End of period | $ | 46,692,972 | $ | 42,675,732 |
Fidelity® Growth Company Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.47 | $ | 41.75 | $ | 34.49 | $ | 21.54 | $ | 18.79 | $ | 18.53 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | (.04) | (.09) | (.14) D | (.10) | (.04) | (.01) E | ||||||
Net realized and unrealized gain (loss) | 3.60 | (11.30) | 10.31 | 13.87 | 3.81 | 1.12 | ||||||
Total from investment operations | 3.56 | (11.39) | 10.17 | 13.77 | 3.77 | 1.11 | ||||||
Distributions from net realized gain | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | (.85) | ||||||
Total distributions | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | (.85) | ||||||
Net asset value, end of period | $ | 28.41 | $ | 26.47 | $ | 41.75 | $ | 34.49 | $ | 21.54 | $ | 18.79 |
Total Return F,G | 15.15% | (29.90)% | 31.76% | 66.23% | 22.05% | 6.19% | ||||||
Ratios to Average Net Assets C,H,I | ||||||||||||
Expenses before reductions | .89% J | .86% | .79% | .83% | .83% | .85% | ||||||
Expenses net of fee waivers, if any | .88% J | .86% | .79% | .83% | .83% | .85% | ||||||
Expenses net of all reductions | .88% J | .86% | .79% | .83% | .83% | .85% | ||||||
Net investment income (loss) | (.33)% J | (.32)% | (.38)% D | (.41)% | (.20)% | (.07)% E | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 39,199 | $ | 34,900 | $ | 53,845 | $ | 43,533 | $ | 28,861 | $ | 25,615 |
Portfolio turnover rate K,L | 11% J | 14% | 16% | 18% | 16% | 18% |
Fidelity® Growth Company Fund Class K |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.59 | $ | 41.89 | $ | 34.57 | $ | 21.57 | $ | 18.80 | $ | 18.52 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | (.03) | (.07) | (.12) D | (.08) | (.02) | - E,F | ||||||
Net realized and unrealized gain (loss) | 3.61 | (11.34) | 10.35 | 13.90 | 3.81 | 1.13 | ||||||
Total from investment operations | 3.58 | (11.41) | 10.23 | 13.82 | 3.79 | 1.13 | ||||||
Distributions from net investment income | - | - | - | - | - | - F | ||||||
Distributions from net realized gain | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | (.85) | ||||||
Total distributions | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | (.85) | ||||||
Net asset value, end of period | $ | 28.55 | $ | 26.59 | $ | 41.89 | $ | 34.57 | $ | 21.57 | $ | 18.80 |
Total Return G,H | 15.16% | (29.85)% | 31.87% | 66.37% | 22.15% | 6.28% | ||||||
Ratios to Average Net Assets C,I,J | ||||||||||||
Expenses before reductions | .82% K | .79% | .73% | .75% | .75% | .76% | ||||||
Expenses net of fee waivers, if any | .82% K | .79% | .72% | .75% | .75% | .76% | ||||||
Expenses net of all reductions | .82% K | .79% | .72% | .75% | .75% | .76% | ||||||
Net investment income (loss) | (.26)% K | (.26)% | (.32)% D | (.33)% | (.12)% | .02% E | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 7,494 | $ | 7,776 | $ | 15,994 | $ | 18,449 | $ | 14,772 | $ | 15,468 |
Portfolio turnover rate L,M | 11% 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 | $1,739,859 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 26.0 / 13.8 | Increase |
Enterprise value/Revenue multiple (EV/R) | 2.2 - 25.0 / 7.3 | Increase | |||
Enterpirse value/Revenue multiple (EV/R) | 2.1 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 5.0 | Increase | |||
Probability rate | 25.0% - 75.0% / 50.0% | Increase | |||
Liquidity preference | $254.19 - $282.13 / $268.90 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.31 / $0.24 | Increase | ||
Market approach | Transaction price | $0.70 - $215.03 / $33.99 | Increase | ||
Discount rate | 5.0% - 52.5% / 23.8% | Decrease | |||
Book value | Book value multiple | 1.4 | Increase | ||
Discounted cash flow | Discount rate | 8.0% - 14.1% / 14.1% | Decrease | ||
Weighted average cost of capital (WACC) | 20.5% - 38.4% / 30.9% | Decrease | |||
Exit multiple | 2.0% - 7.3% / 3.8% | Increase | |||
Probability rate | 10.0% - 70.0% / 40.0% | Increase | |||
Black scholes | Discount rate | 3.5% - 5.3% / 4.1% | Increase | ||
Volatility | 45.0% - 100.0% / 76.7% | Increase | |||
Term | 1.0 - 5.0 / 2.9 | Increase | |||
Corporate Bonds | $12,332 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 2.5 | Increase |
Discount rate | 29.2% | Decrease | |||
Probability rate | 10.0% - 50.0% / 33.3% | Increase | |||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 0.6 | Increase | |||
Preferred Securities | $21,326 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 5.0 | Increase |
Recovery value | Recovery value | $0.00 | Increase | ||
Market approach | Transaction price | $59.45 - $100.00 / $84.87 | Increase | ||
Discounted cash flow | Discount rate | 20.0% | Decrease | ||
Black scholes | Discount rate | 4.0% - 4.2% / 4.1% | Increase | ||
Volatility | 70.0% | Increase | |||
Term | 2.0 - 3.0 / 2.6 | Increase |
Fidelity Growth Company Fund | $1,628 |
Gross unrealized appreciation | $31,418,614 |
Gross unrealized depreciation | (2,838,184) |
Net unrealized appreciation (depreciation) | $28,580,430 |
Tax cost | $18,470,785 |
$ Amount | % of Net Assets | |
Fidelity Growth Company Fund | 204,588 | .44 |
Purchases ($) | Sales ($) | |
Fidelity Growth Company Fund | 2,322,326 | 3,478,217 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Company Fund | 37,477 | 599,008 | 927,859 | Class K |
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 |
Amount | % of Class-Level Average Net Assets A | |
Growth Company | $18,832 | .11 |
Class K | 1,508 | .04 |
$20,340 |
% of Average Net Assets | |
Fidelity Growth Company Fund | - A |
Amount | |
Fidelity Growth Company Fund | $94 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Company Fund | Borrower | $52,612 | 4.57% | $60 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company Fund | 321,081 | 335,423 | 107,094 |
Amount | |
Fidelity Growth Company Fund | $41 |
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 | $122 | $46 | $6,113 |
Six months ended May 31, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Company Fund | ||
Distributions to shareholders | ||
Growth Company | $2,142,375 | $4,986,906 |
Class K | 458,579 | 1,446,441 |
Total | $2,600,954 | $6,433,347 |
Shares | Shares | Dollars | Dollars | |
Six months ended May 31, 2023 | Year ended November 30, 2022 | Six months ended May 31, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Company Fund | ||||
Growth Company | ||||
Shares sold | 57,481 | 159,105 | $1,427,986 | $4,503,361 |
Reinvestment of distributions | 88,689 | 123,271 | 1,971,548 | 4,540,077 |
Shares redeemed | (84,619) | (253,813) | (2,103,313) | (7,313,072) |
Net increase (decrease) | 61,551 | 28,563 | $1,296,221 | $1,730,366 |
Class K | ||||
Shares sold | 19,518 | 40,502 | $497,495 | $1,203,828 |
Reinvestment of distributions | 20,509 | 39,098 | 458,166 | 1,445,449 |
Shares redeemed | (69,992) | (168,994) | (1,759,610) | (4,961,474) |
Net increase (decrease) | (29,965) | (89,394) | $(803,949) | $(2,312,197) |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity Growth Company Fund | 17% |
Fund | % of shares held |
Fidelity Growth Company Fund | 23% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Growth Company Fund | ||||||||||
Fidelity® Growth Company Fund | .88% | |||||||||
Actual | $ 1,000 | $ 1,151.50 | $ 4.72 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.54 | $ 4.43 | |||||||
Class K | .82% | |||||||||
Actual | $ 1,000 | $ 1,151.60 | $ 4.40 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.84 | $ 4.13 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on April 19, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To reclassify the diversification status of the fund from diversified to non-diversified by eliminating the following fundamental policy: The fund may not with respect to 75% of fund's total assets, purchase the securities of any issuer (other than securities issued or guaranteed by the U.S. Government or any of its agencies or instrumentalities, or securities of other investment companies) if, as a result, (a) more than 5% of fund's total assets would be invested in the securities of that issuer, or (b) the fund would hold more than 10% of outstanding voting securities of issuer. | ||
# of Votes | % of Votes | |
Affirmative | 22,429,549,752.490 | 84.230 |
Against | 3,153,408,865.270 | 11.840 |
Abstain | 1,046,057,621.270 | 3.930 |
TOTAL | 26,629,016,239.030 | 100.000 |
Contents
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 13.0 | |
Apple, Inc. | 9.2 | |
Microsoft Corp. | 6.1 | |
Amazon.com, Inc. | 5.4 | |
Alphabet, Inc. Class A | 3.9 | |
lululemon athletica, Inc. | 3.4 | |
Salesforce, Inc. | 1.8 | |
Tesla, Inc. | 1.6 | |
Oracle Corp. | 1.6 | |
Alphabet, Inc. Class C | 1.5 | |
47.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 43.0 | |
Consumer Discretionary | 18.3 | |
Health Care | 16.0 | |
Communication Services | 7.6 | |
Industrials | 4.4 | |
Consumer Staples | 3.7 | |
Financials | 3.5 | |
Energy | 1.7 | |
Materials | 1.0 | |
Real Estate | 0.2 | |
Utilities | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.2% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 7.5% | |||
Diversified Telecommunication Services - 0.0% | |||
Verizon Communications, Inc. | 8,592 | 306,133 | |
Entertainment - 0.8% | |||
Netflix, Inc. (a) | 254,488 | 100,581,292 | |
Roblox Corp. (a) | 19,917 | 833,726 | |
Roku, Inc. Class A (a) | 150,958 | 8,785,756 | |
The Walt Disney Co. (a) | 58,467 | 5,142,757 | |
115,343,531 | |||
Interactive Media & Services - 6.2% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,505,269 | 553,562,402 | |
Class C (a) | 1,725,574 | 212,884,064 | |
Epic Games, Inc. (a)(b)(c) | 5,000 | 3,519,800 | |
Meta Platforms, Inc. Class A (a) | 389,792 | 103,185,738 | |
Snap, Inc. Class A (a) | 704,513 | 7,186,033 | |
880,338,037 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 27,662 | 1,088,500 | |
The Trade Desk, Inc. (a) | 25,735 | 1,803,509 | |
2,892,009 | |||
Wireless Telecommunication Services - 0.5% | |||
T-Mobile U.S., Inc. (a) | 539,788 | 74,085,903 | |
TOTAL COMMUNICATION SERVICES | 1,072,965,613 | ||
CONSUMER DISCRETIONARY - 18.2% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (d) | 104,719 | 4,667,326 | |
Automobiles - 1.9% | |||
Rad Power Bikes, Inc. (a)(b)(c) | 171,416 | 359,974 | |
Rivian Automotive, Inc. (a)(d) | 2,202,142 | 32,437,552 | |
Tesla, Inc. (a) | 1,137,805 | 232,032,574 | |
264,830,100 | |||
Broadline Retail - 5.9% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 138,648 | 11,029,448 | |
Amazon.com, Inc. (a) | 6,405,064 | 772,322,617 | |
Etsy, Inc. (a) | 32,416 | 2,627,317 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 775,841 | 42,764,356 | |
Ozon Holdings PLC ADR (a)(c)(d) | 6,684 | 57,482 | |
PDD Holdings, Inc. ADR (a) | 46,983 | 3,068,930 | |
Vipshop Holdings Ltd. ADR (a) | 359,147 | 5,142,985 | |
837,013,135 | |||
Hotels, Restaurants & Leisure - 1.5% | |||
Airbnb, Inc. Class A (a) | 78,630 | 8,631,215 | |
Booking Holdings, Inc. (a) | 31,505 | 79,038,799 | |
Chipotle Mexican Grill, Inc. (a) | 13,999 | 29,068,784 | |
Dutch Bros, Inc. (a)(d) | 54,552 | 1,547,095 | |
Expedia, Inc. (a) | 101,248 | 9,690,446 | |
Marriott International, Inc. Class A | 124,444 | 20,880,459 | |
McDonald's Corp. | 910 | 259,450 | |
Penn Entertainment, Inc. (a) | 812,128 | 20,335,685 | |
Shake Shack, Inc. Class A (a) | 19,902 | 1,316,915 | |
Sonder Holdings, Inc.: | |||
rights (a)(c) | 5,104 | 357 | |
rights (a)(c) | 5,104 | 255 | |
rights (a)(c) | 5,104 | 204 | |
rights (a)(c) | 5,104 | 153 | |
rights (a)(c) | 5,103 | 102 | |
rights (a)(c) | 5,102 | 102 | |
Starbucks Corp. | 199,108 | 19,440,905 | |
Sweetgreen, Inc. Class A (a) | 441,758 | 4,209,954 | |
Trip.com Group Ltd. ADR (a) | 268,480 | 8,478,598 | |
Yum China Holdings, Inc. | 212,154 | 11,978,215 | |
Zomato Ltd. (a) | 2,105,200 | 1,757,940 | |
216,635,633 | |||
Household Durables - 0.4% | |||
Lennar Corp. Class A | 503,683 | 53,954,523 | |
PulteGroup, Inc. | 190 | 12,555 | |
Purple Innovation, Inc. (d) | 1,290,602 | 4,465,483 | |
Toll Brothers, Inc. | 40,912 | 2,769,742 | |
61,202,303 | |||
Specialty Retail - 2.8% | |||
Fanatics, Inc. Class A (a)(b)(c) | 204,775 | 14,754,039 | |
Farfetch Ltd. Class A (a)(d) | 270,300 | 1,332,579 | |
Five Below, Inc. (a) | 79,303 | 13,681,354 | |
Floor & Decor Holdings, Inc. Class A (a)(d) | 93,215 | 8,511,462 | |
Lowe's Companies, Inc. | 432,677 | 87,024,325 | |
Revolve Group, Inc. (a)(d) | 594,584 | 9,049,568 | |
RH (a) | 45,073 | 11,041,984 | |
Ross Stores, Inc. | 127,369 | 13,197,976 | |
RumbleON, Inc. Class B (a)(d) | 200,450 | 2,188,914 | |
The Home Depot, Inc. | 326,363 | 92,507,592 | |
TJX Companies, Inc. | 1,330,477 | 102,167,329 | |
Tractor Supply Co. | 2,400 | 503,016 | |
Wayfair LLC Class A (a)(d) | 1,094,343 | 44,123,910 | |
400,084,048 | |||
Textiles, Apparel & Luxury Goods - 5.7% | |||
Canada Goose Holdings, Inc. (a)(d) | 457,389 | 7,281,161 | |
Crocs, Inc. (a) | 180,453 | 20,261,263 | |
Deckers Outdoor Corp. (a) | 199,857 | 94,932,075 | |
Li Ning Co. Ltd. | 482,180 | 2,586,257 | |
lululemon athletica, Inc. (a) | 1,480,327 | 491,364,941 | |
NIKE, Inc. Class B | 405,091 | 42,639,879 | |
On Holding AG (a) | 1,592,489 | 43,713,823 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 2,141,154 | 109,991,081 | |
812,770,480 | |||
TOTAL CONSUMER DISCRETIONARY | 2,597,203,025 | ||
CONSUMER STAPLES - 3.7% | |||
Beverages - 1.5% | |||
Celsius Holdings, Inc. (a) | 158,787 | 19,932,532 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 9,986 | 2,426,298 | |
Keurig Dr. Pepper, Inc. | 598,303 | 18,619,189 | |
Monster Beverage Corp. | 836,593 | 49,041,082 | |
PepsiCo, Inc. | 242,159 | 44,157,694 | |
The Coca-Cola Co. | 1,376,776 | 82,138,456 | |
216,315,251 | |||
Consumer Staples Distribution & Retail - 1.0% | |||
Costco Wholesale Corp. | 117,084 | 59,895,491 | |
Dollar General Corp. | 115,821 | 23,290,445 | |
Dollar Tree, Inc. (a) | 115,289 | 15,550,180 | |
Kroger Co. | 224,296 | 10,167,338 | |
Performance Food Group Co. (a) | 16,490 | 911,732 | |
Sysco Corp. | 150,593 | 10,533,980 | |
Target Corp. | 91,213 | 11,942,518 | |
Walmart, Inc. | 90,810 | 13,337,265 | |
145,628,949 | |||
Food Products - 0.4% | |||
Bunge Ltd. | 164,059 | 15,198,426 | |
Kellogg Co. | 134,683 | 8,992,784 | |
Mondelez International, Inc. | 101,252 | 7,432,909 | |
The Hershey Co. | 76,845 | 19,956,647 | |
The Real Good Food Co. LLC: | |||
Class B (a)(c) | 149,688 | 2 | |
Class B unit (e) | 149,688 | 528,399 | |
The Real Good Food Co., Inc. (a) | 17,974 | 63,448 | |
52,172,615 | |||
Household Products - 0.3% | |||
Church & Dwight Co., Inc. | 62,700 | 5,796,615 | |
Colgate-Palmolive Co. | 138,271 | 10,284,597 | |
Procter & Gamble Co. | 233,635 | 33,292,988 | |
The Clorox Co. | 3,400 | 537,812 | |
49,912,012 | |||
Personal Care Products - 0.1% | |||
Kenvue, Inc. | 144,500 | 3,625,505 | |
Olaplex Holdings, Inc. (a) | 1,720,660 | 5,437,286 | |
The Beauty Health Co. (a)(b) | 428,643 | 3,446,290 | |
The Beauty Health Co. (a)(d) | 400,276 | 3,218,219 | |
15,727,300 | |||
Tobacco - 0.4% | |||
Philip Morris International, Inc. | 585,761 | 52,724,348 | |
TOTAL CONSUMER STAPLES | 532,480,475 | ||
ENERGY - 1.7% | |||
Energy Equipment & Services - 0.2% | |||
Baker Hughes Co. Class A | 322,462 | 8,787,090 | |
Halliburton Co. | 814,979 | 23,349,148 | |
Schlumberger Ltd. | 108,664 | 4,654,079 | |
36,790,317 | |||
Oil, Gas & Consumable Fuels - 1.5% | |||
Cameco Corp. (d) | 608,949 | 16,953,140 | |
Devon Energy Corp. | 64,747 | 2,984,837 | |
EOG Resources, Inc. | 145,866 | 15,649,963 | |
EQT Corp. | 144,401 | 5,020,823 | |
Hess Corp. | 840,008 | 106,403,813 | |
Range Resources Corp. | 1,200,871 | 32,867,839 | |
Reliance Industries Ltd. | 768,646 | 22,958,988 | |
Valero Energy Corp. | 61,111 | 6,541,321 | |
209,380,724 | |||
TOTAL ENERGY | 246,171,041 | ||
FINANCIALS - 3.4% | |||
Banks - 0.5% | |||
Bank of America Corp. | 878,663 | 24,418,045 | |
HDFC Bank Ltd. sponsored ADR | 423,311 | 27,261,228 | |
JPMorgan Chase & Co. | 121,484 | 16,486,594 | |
Wells Fargo & Co. | 116,759 | 4,648,176 | |
72,814,043 | |||
Capital Markets - 0.3% | |||
BlackRock, Inc. Class A | 44,679 | 29,378,676 | |
Charles Schwab Corp. | 357,005 | 18,810,593 | |
48,189,269 | |||
Financial Services - 2.6% | |||
Block, Inc. Class A (a) | 55,341 | 3,342,043 | |
MasterCard, Inc. Class A | 399,834 | 145,947,407 | |
PayPal Holdings, Inc. (a) | 161,659 | 10,021,241 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | 23,230 | 59,933 | |
Toast, Inc. (a)(d) | 1,768,310 | 37,081,461 | |
Visa, Inc. Class A | 757,286 | 167,382,925 | |
363,835,010 | |||
TOTAL FINANCIALS | 484,838,322 | ||
HEALTH CARE - 15.4% | |||
Biotechnology - 8.1% | |||
4D Pharma PLC (a)(c)(d) | 1,031,336 | 213,736 | |
AbbVie, Inc. | 139,107 | 19,191,202 | |
Absci Corp. (a) | 1,383,493 | 2,628,637 | |
ACADIA Pharmaceuticals, Inc. (a) | 746,443 | 17,541,411 | |
Acelyrin, Inc. (a) | 144,800 | 2,620,880 | |
Akouos, Inc. (CVR) (c) | 338,256 | 260,457 | |
Alector, Inc. (a) | 585,328 | 4,354,840 | |
Allovir, Inc. (a)(d) | 729,621 | 2,750,671 | |
Alnylam Pharmaceuticals, Inc. (a) | 666,136 | 123,241,821 | |
Ambrx Biopharma, Inc. ADR (a) | 167 | 2,465 | |
Amgen, Inc. | 128,272 | 28,303,217 | |
Apellis Pharmaceuticals, Inc. (a) | 75,370 | 6,470,515 | |
Arcutis Biotherapeutics, Inc. (a) | 117,039 | 878,963 | |
Argenx SE ADR (a) | 218,122 | 84,784,021 | |
Arrowhead Pharmaceuticals, Inc. (a) | 48,725 | 1,676,627 | |
Ars Pharmaceuticals, Inc. (a) | 402,549 | 2,801,741 | |
Ascendis Pharma A/S sponsored ADR (a) | 15,846 | 1,378,127 | |
aTyr Pharma, Inc. (a) | 687,021 | 1,559,538 | |
Avidity Biosciences, Inc. (a) | 536,809 | 5,700,912 | |
Axcella Health, Inc. (a)(d) | 1,045,116 | 409,476 | |
Beam Therapeutics, Inc. (a)(d) | 270,560 | 8,630,864 | |
BeiGene Ltd. ADR (a)(d) | 166,363 | 36,754,578 | |
Biomea Fusion, Inc. (a) | 585,679 | 19,889,659 | |
BioNTech SE ADR | 30,715 | 3,227,532 | |
BioXcel Therapeutics, Inc. (a)(d) | 463,100 | 8,308,014 | |
Calyxt, Inc. (a) | 8,652 | 54,508 | |
Caris Life Sciences, Inc. (b)(c) | 362,791 | 2,031,630 | |
Century Therapeutics, Inc. (a) | 682,629 | 2,170,760 | |
Cerevel Therapeutics Holdings (a) | 1,829,327 | 59,636,060 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a) | 95,000 | 1 | |
CRISPR Therapeutics AG (a)(d) | 223,990 | 14,344,320 | |
Cyclerion Therapeutics, Inc. (a) | 10,061 | 43,765 | |
Day One Biopharmaceuticals, Inc. (a) | 308,798 | 4,107,013 | |
Denali Therapeutics, Inc. (a) | 100,669 | 3,042,217 | |
Disc Medicine, Inc. rights (a)(c) | 50,893 | 1 | |
EQRx, Inc. (a)(d) | 2,666,944 | 4,693,821 | |
EQRx, Inc.: | |||
rights (a)(c) | 65,872 | 20,420 | |
rights (a)(c) | 28,231 | 5,364 | |
Evelo Biosciences, Inc. (a)(d) | 594,216 | 81,110 | |
Foghorn Therapeutics, Inc. (a)(d) | 287,171 | 1,806,306 | |
Generation Bio Co. (a) | 597,344 | 2,090,704 | |
Geron Corp. (a) | 627,975 | 2,053,478 | |
Icosavax, Inc. (a) | 1,510 | 15,160 | |
Idorsia Ltd. (a)(d) | 163,543 | 1,338,691 | |
Immunocore Holdings PLC ADR (a) | 43,072 | 2,376,713 | |
ImmunoGen, Inc. (a) | 430,600 | 5,873,384 | |
Immunovant, Inc. (a) | 547,874 | 11,510,833 | |
Inhibrx, Inc. (a)(d) | 150,752 | 3,566,792 | |
Invivyd, Inc. (a)(d) | 921,282 | 1,658,308 | |
Ionis Pharmaceuticals, Inc. (a)(d) | 2,177,010 | 89,039,709 | |
Janux Therapeutics, Inc. (a) | 149,843 | 1,741,176 | |
Karuna Therapeutics, Inc. (a) | 387,953 | 87,890,752 | |
Kineta, Inc. | 5,211 | 15,685 | |
Legend Biotech Corp. ADR (a) | 657,640 | 42,200,759 | |
Lexicon Pharmaceuticals, Inc. (a) | 471,472 | 1,555,858 | |
Lyell Immunopharma, Inc. (a)(d) | 332,538 | 1,060,796 | |
Madrigal Pharmaceuticals, Inc. (a) | 4,000 | 1,113,640 | |
Magenta Therapeutics, Inc. (c)(f) | 346,245 | 1,551,178 | |
Moderna, Inc. (a) | 267,354 | 34,143,779 | |
Monte Rosa Therapeutics, Inc. (a) | 312,481 | 2,306,110 | |
Moonlake Immunotherapeutics (a)(d) | 2,700 | 73,467 | |
Morphic Holding, Inc. (a) | 360,557 | 20,732,028 | |
Nuvalent, Inc. Class A (a) | 468,369 | 19,718,335 | |
Omega Therapeutics, Inc. (a) | 665,033 | 5,047,600 | |
ORIC Pharmaceuticals, Inc. (a) | 270,098 | 1,361,294 | |
Poseida Therapeutics, Inc. (a) | 736,765 | 1,672,457 | |
Protagonist Therapeutics, Inc. (a) | 3,506 | 91,401 | |
Prothena Corp. PLC (a) | 673,659 | 44,751,167 | |
PTC Therapeutics, Inc. (a) | 371,264 | 15,581,950 | |
RAPT Therapeutics, Inc. (a) | 264,381 | 5,295,551 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 673,262 | 5,904,508 | |
Regeneron Pharmaceuticals, Inc. (a) | 87,810 | 64,589,524 | |
Relay Therapeutics, Inc. (a)(d) | 314,267 | 3,500,934 | |
Roivant Sciences Ltd. (a) | 2,854,252 | 25,945,151 | |
Sage Therapeutics, Inc. (a) | 855,144 | 42,329,628 | |
Sana Biotechnology, Inc. (a)(d) | 505,878 | 3,045,386 | |
Scholar Rock Holding Corp. (a) | 450,011 | 2,619,064 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 39,325 | 61,471 | |
Seres Therapeutics, Inc. (a)(d) | 1,917,803 | 9,493,125 | |
Shattuck Labs, Inc. (a) | 322,243 | 841,054 | |
Sigilon Therapeutics, Inc. (a) | 8,839 | 37,124 | |
SpringWorks Therapeutics, Inc. (b) | 113,900 | 2,806,724 | |
SpringWorks Therapeutics, Inc. (a)(d) | 811,529 | 22,219,664 | |
Synlogic, Inc. (a) | 639,040 | 335,496 | |
Tango Therapeutics, Inc. (a) | 409,889 | 1,106,700 | |
Taysha Gene Therapies, Inc. (a) | 178,669 | 124,872 | |
TG Therapeutics, Inc. (a) | 484,338 | 12,897,921 | |
Tyra Biosciences, Inc. (a) | 46,685 | 675,532 | |
uniQure B.V. (a) | 110,724 | 2,135,866 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 664,077 | 31,698 | |
Vaxcyte, Inc. (a) | 312,215 | 15,460,887 | |
Vera Therapeutics, Inc. (a) | 227,996 | 1,903,767 | |
Vertex Pharmaceuticals, Inc. (a) | 68,837 | 22,273,588 | |
Verve Therapeutics, Inc. (a)(d) | 138,552 | 2,144,785 | |
Viking Therapeutics, Inc. (a) | 1,002,975 | 22,025,331 | |
Vor Biopharma, Inc. (a) | 517,426 | 2,431,902 | |
Zai Lab Ltd. ADR (a) | 144,151 | 4,683,466 | |
Zentalis Pharmaceuticals, Inc. (a) | 204,367 | 5,321,717 | |
1,159,992,840 | |||
Health Care Equipment & Supplies - 3.0% | |||
Abbott Laboratories | 15,648 | 1,596,096 | |
Blink Health LLC Series A1 (a)(b)(c) | 65,933 | 3,157,531 | |
Boston Scientific Corp. (a) | 10,100 | 519,948 | |
DexCom, Inc. (a) | 317,160 | 37,190,182 | |
Figs, Inc. Class A (a) | 124,819 | 1,028,509 | |
Inspire Medical Systems, Inc. (a) | 7,300 | 2,135,177 | |
Insulet Corp. (a) | 522,904 | 143,406,422 | |
Intuitive Surgical, Inc. (a) | 201,095 | 61,905,085 | |
Novocure Ltd. (a)(d) | 1,506,389 | 108,173,794 | |
Oddity Tech Ltd. (a)(b)(c) | 3,704 | 1,675,727 | |
Outset Medical, Inc. (a) | 455,304 | 9,483,982 | |
Penumbra, Inc. (a) | 7,370 | 2,265,096 | |
Presbia PLC (a)(c) | 96,997 | 1 | |
PROCEPT BioRobotics Corp. (a) | 386,532 | 12,929,495 | |
Shockwave Medical, Inc. (a) | 171,188 | 47,092,107 | |
432,559,152 | |||
Health Care Providers & Services - 1.2% | |||
Alignment Healthcare, Inc. (a) | 391,093 | 2,295,716 | |
Guardant Health, Inc. (a) | 150,602 | 4,415,651 | |
Humana, Inc. | 77,449 | 38,869,330 | |
McKesson Corp. | 32,480 | 12,694,483 | |
The Oncology Institute, Inc. (a)(b) | 446,788 | 191,002 | |
UnitedHealth Group, Inc. | 221,230 | 107,792,105 | |
166,258,287 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(b)(c) | 115 | 81,021 | |
DNA Script (a)(b)(c) | 439 | 309,290 | |
390,311 | |||
Life Sciences Tools & Services - 0.6% | |||
10X Genomics, Inc. (a) | 563,697 | 29,571,545 | |
Akoya Biosciences, Inc. (a) | 17,491 | 98,474 | |
Danaher Corp. | 36,029 | 8,272,979 | |
Gerresheimer AG | 19,700 | 2,164,694 | |
Olink Holding AB ADR (a) | 455,652 | 8,876,101 | |
Seer, Inc. (a) | 246,109 | 905,681 | |
Thermo Fisher Scientific, Inc. | 42,237 | 21,475,825 | |
WuXi AppTec Co. Ltd. (H Shares) (e) | 338,482 | 2,788,101 | |
Wuxi Biologics (Cayman), Inc. (a)(e) | 2,200,461 | 11,254,585 | |
85,407,985 | |||
Pharmaceuticals - 2.5% | |||
Adimab LLC (a)(b)(c)(g) | 196,899 | 7,846,425 | |
Arvinas Holding Co. LLC (a) | 58,793 | 1,283,451 | |
Atea Pharmaceuticals, Inc. (a) | 1,170,755 | 4,671,312 | |
Bristol-Myers Squibb Co. | 131,721 | 8,488,101 | |
DICE Therapeutics, Inc. (a) | 98,004 | 3,097,906 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 31,376 | 698,116 | |
Eli Lilly & Co. | 355,343 | 152,605,605 | |
Fulcrum Therapeutics, Inc. (a) | 449,502 | 1,222,645 | |
GH Research PLC (a) | 356,088 | 3,988,186 | |
Harmony Biosciences Holdings, Inc. (a)(d) | 629,557 | 21,770,081 | |
Intra-Cellular Therapies, Inc. (a) | 997,553 | 59,234,697 | |
Merck & Co., Inc. | 42,279 | 4,668,024 | |
Novo Nordisk A/S Series B sponsored ADR | 224,435 | 36,012,840 | |
Nuvation Bio, Inc. (a) | 1,585,161 | 2,567,961 | |
OptiNose, Inc. (a) | 1,708,485 | 2,135,606 | |
OptiNose, Inc. warrants (a) | 213,862 | 65,897 | |
Pfizer, Inc. | 26,448 | 1,005,553 | |
Pharvaris BV (a) | 31,500 | 269,325 | |
Pliant Therapeutics, Inc. (a) | 490,779 | 10,615,550 | |
Sienna Biopharmaceuticals, Inc. (a)(c) | 364,498 | 4 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 127,580 | 1,465,894 | |
Theravance Biopharma, Inc. (a)(d) | 122,995 | 1,375,084 | |
UCB SA | 254,348 | 22,163,053 | |
Ventyx Biosciences, Inc. (a) | 117,151 | 4,038,195 | |
351,289,511 | |||
TOTAL HEALTH CARE | 2,195,898,086 | ||
INDUSTRIALS - 4.3% | |||
Aerospace & Defense - 0.7% | |||
AeroVironment, Inc. (a) | 49,826 | 4,654,247 | |
Lockheed Martin Corp. | 64,753 | 28,750,980 | |
Raytheon Technologies Corp. | 160,583 | 14,796,118 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 324,714 | 25,002,978 | |
The Boeing Co. (a) | 133,321 | 27,424,130 | |
100,628,453 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. | 486,000 | 2,052,379 | |
United Parcel Service, Inc. Class B | 67,974 | 11,351,658 | |
13,404,037 | |||
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 477,758 | 12,689,252 | |
MasTec, Inc. (a) | 35,004 | 3,548,005 | |
Quanta Services, Inc. | 47,021 | 8,349,989 | |
24,587,246 | |||
Electrical Equipment - 0.3% | |||
Eaton Corp. PLC | 84,558 | 14,873,752 | |
Emerson Electric Co. | 213,846 | 16,611,557 | |
Fluence Energy, Inc. (a) | 4,550 | 112,840 | |
Generac Holdings, Inc. (a) | 117,010 | 12,744,729 | |
Nextracker, Inc. Class A (d) | 51,099 | 1,954,537 | |
NuScale Power Corp. (a)(d) | 290,952 | 2,182,140 | |
48,479,555 | |||
Ground Transportation - 1.6% | |||
Avis Budget Group, Inc. (a) | 534,211 | 89,635,264 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 27,377 | 0 | |
Stage 2 rights (a)(c) | 27,377 | 0 | |
Stage 3 rights (a)(c) | 27,377 | 0 | |
Hertz Global Holdings, Inc. (a)(d) | 86,110 | 1,350,205 | |
Lyft, Inc. (a) | 802,808 | 7,241,328 | |
Uber Technologies, Inc. (a) | 2,157,119 | 81,819,524 | |
Union Pacific Corp. | 262,023 | 50,444,668 | |
230,490,989 | |||
Industrial Conglomerates - 0.1% | |||
General Electric Co. | 18,200 | 1,847,846 | |
Honeywell International, Inc. | 45,163 | 8,653,231 | |
10,501,077 | |||
Machinery - 0.5% | |||
Caterpillar, Inc. | 109,009 | 22,428,602 | |
Deere & Co. | 102,709 | 35,535,260 | |
Fortive Corp. | 32,342 | 2,105,788 | |
Illinois Tool Works, Inc. | 58,347 | 12,762,239 | |
Ingersoll Rand, Inc. | 81,578 | 4,622,209 | |
77,454,098 | |||
Passenger Airlines - 0.7% | |||
Delta Air Lines, Inc. (a) | 640,196 | 23,258,321 | |
Ryanair Holdings PLC sponsored ADR (a) | 6,687 | 702,670 | |
Southwest Airlines Co. | 714,033 | 21,328,166 | |
Spirit Airlines, Inc. | 629,515 | 9,574,923 | |
United Airlines Holdings, Inc. (a) | 478,132 | 22,694,535 | |
Wizz Air Holdings PLC (a)(e) | 716,316 | 24,735,861 | |
102,294,476 | |||
Professional Services - 0.1% | |||
LegalZoom.com, Inc. (a) | 144,416 | 1,616,015 | |
Paycom Software, Inc. | 18,249 | 5,112,092 | |
Paylocity Holding Corp. (a) | 26,427 | 4,565,264 | |
11,293,371 | |||
TOTAL INDUSTRIALS | 619,133,302 | ||
INFORMATION TECHNOLOGY - 42.8% | |||
Communications Equipment - 0.6% | |||
Arista Networks, Inc. (a) | 142,690 | 23,735,055 | |
Ciena Corp. (a) | 942,003 | 44,029,220 | |
Infinera Corp. (a)(d) | 3,838,899 | 18,810,605 | |
86,574,880 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a)(d) | 128,130 | 4,735,685 | |
TE Connectivity Ltd. | 3,543 | 433,947 | |
5,169,632 | |||
IT Services - 1.5% | |||
Accenture PLC Class A | 115,125 | 35,219,040 | |
Cloudflare, Inc. (a)(d) | 1,256,084 | 86,870,769 | |
IBM Corp. | 132,871 | 17,085,882 | |
MongoDB, Inc. Class A (a) | 8,861 | 2,603,273 | |
Okta, Inc. (a) | 124,568 | 11,323,231 | |
Shopify, Inc. Class A (a) | 700,201 | 40,062,329 | |
Snowflake, Inc. (a) | 74,435 | 12,308,572 | |
Twilio, Inc. Class A (a) | 12,993 | 904,573 | |
X Holdings Corp. Class A (c) | 26,890 | 939,537 | |
207,317,206 | |||
Semiconductors & Semiconductor Equipment - 17.8% | |||
Advanced Micro Devices, Inc. (a) | 989,132 | 116,925,294 | |
Allegro MicroSystems LLC (a) | 19,881 | 781,920 | |
Applied Materials, Inc. | 474,843 | 63,296,572 | |
ASML Holding NV (depository receipt) | 31,028 | 22,431,072 | |
Broadcom, Inc. | 44,525 | 35,974,419 | |
Cirrus Logic, Inc. (a) | 554,762 | 43,093,912 | |
Enphase Energy, Inc. (a) | 92,829 | 16,141,107 | |
First Solar, Inc. (a) | 233,104 | 47,310,788 | |
GlobalFoundries, Inc. (a) | 112,673 | 6,572,216 | |
Impinj, Inc. (a) | 123,480 | 12,636,943 | |
KLA Corp. | 64,858 | 28,731,445 | |
Lam Research Corp. | 18,377 | 11,333,096 | |
Lattice Semiconductor Corp. (a) | 68,050 | 5,533,146 | |
Marvell Technology, Inc. | 1,002,532 | 58,638,097 | |
Micron Technology, Inc. | 196,520 | 13,402,664 | |
Monolithic Power Systems, Inc. | 39,666 | 19,432,770 | |
NVIDIA Corp. | 4,896,658 | 1,852,601,578 | |
onsemi (a) | 197,390 | 16,501,804 | |
Qualcomm, Inc. | 168,439 | 19,102,667 | |
Silicon Laboratories, Inc. (a) | 526,399 | 74,048,547 | |
SiTime Corp. (a) | 184,350 | 18,281,990 | |
SolarEdge Technologies, Inc. (a) | 9,730 | 2,771,396 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 135,375 | 13,346,621 | |
Teradyne, Inc. | 84,891 | 8,505,229 | |
Texas Instruments, Inc. | 157,840 | 27,445,219 | |
Wolfspeed, Inc. (a)(d) | 133,895 | 6,432,316 | |
2,541,272,828 | |||
Software - 12.8% | |||
Adobe, Inc. (a) | 194,240 | 81,151,530 | |
Atlassian Corp. PLC (a) | 11,482 | 2,075,831 | |
Autodesk, Inc. (a) | 116,939 | 23,316,467 | |
Bill Holdings, Inc. (a) | 31,658 | 3,279,136 | |
Clear Secure, Inc. | 644 | 15,913 | |
Confluent, Inc. (a) | 165,900 | 5,265,666 | |
Crowdstrike Holdings, Inc. (a) | 115,688 | 18,525,119 | |
Datadog, Inc. Class A (a) | 85,775 | 8,140,905 | |
Elastic NV (a) | 53,045 | 3,862,737 | |
Freshworks, Inc. (a) | 71,000 | 1,118,960 | |
HubSpot, Inc. (a) | 57,466 | 29,766,813 | |
Intuit, Inc. | 86,127 | 36,097,548 | |
Microsoft Corp. | 2,635,264 | 865,394,345 | |
Nutanix, Inc. Class A (a) | 3,775,929 | 111,843,017 | |
Oracle Corp. | 2,177,509 | 230,685,303 | |
Palantir Technologies, Inc. (a) | 36,900 | 542,799 | |
Palo Alto Networks, Inc. (a) | 7,300 | 1,557,747 | |
RingCentral, Inc. (a) | 43,953 | 1,525,169 | |
Salesforce, Inc. (a) | 1,181,301 | 263,879,017 | |
Samsara, Inc. (a)(d) | 71,905 | 1,384,171 | |
SentinelOne, Inc. (a)(d) | 80,483 | 1,720,727 | |
ServiceNow, Inc. (a) | 122,827 | 66,913,693 | |
Stripe, Inc. Class B (a)(b)(c) | 38,500 | 775,005 | |
UiPath, Inc. Class A (a) | 1,519,173 | 27,178,005 | |
Workday, Inc. Class A (a) | 46,952 | 9,953,354 | |
Zoom Video Communications, Inc. Class A (a) | 234,756 | 15,759,170 | |
Zscaler, Inc. (a)(d) | 84,323 | 11,424,080 | |
1,823,152,227 | |||
Technology Hardware, Storage & Peripherals - 10.1% | |||
Apple, Inc. | 7,430,839 | 1,317,116,213 | |
Pure Storage, Inc. Class A (a) | 4,274,445 | 123,061,272 | |
Samsung Electronics Co. Ltd. | 167,855 | 9,061,958 | |
1,449,239,443 | |||
TOTAL INFORMATION TECHNOLOGY | 6,112,726,216 | ||
MATERIALS - 0.9% | |||
Chemicals - 0.4% | |||
Albemarle Corp. | 44,584 | 8,628,342 | |
CF Industries Holdings, Inc. | 172,899 | 10,635,017 | |
Cibus Corp.: | |||
Series E (a)(b)(c)(g) | 2,065,675 | 4,131,350 | |
Series F (a)(b)(c)(g) | 290,474 | 580,948 | |
Corteva, Inc. | 508,910 | 27,221,596 | |
The Mosaic Co. | 333,575 | 10,661,057 | |
61,858,310 | |||
Containers & Packaging - 0.0% | |||
Sealed Air Corp. | 78,564 | 2,973,647 | |
Metals & Mining - 0.5% | |||
Barrick Gold Corp. (Canada) (d) | 413,404 | 6,985,995 | |
Freeport-McMoRan, Inc. | 1,628,436 | 55,920,492 | |
Rio Tinto PLC sponsored ADR | 69,449 | 4,100,963 | |
67,007,450 | |||
TOTAL MATERIALS | 131,839,407 | ||
REAL ESTATE - 0.2% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
American Tower Corp. | 91,193 | 16,819,637 | |
Equinix, Inc. | 7,658 | 5,709,422 | |
22,529,059 | |||
Real Estate Management & Development - 0.0% | |||
CBRE Group, Inc. (a) | 67,729 | 5,074,257 | |
TOTAL REAL ESTATE | 27,603,316 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
ORSTED A/S (e) | 120,835 | 10,580,315 | |
TOTAL COMMON STOCKS (Cost $10,863,343,480) | 14,031,439,118 | ||
Preferred Stocks - 1.3% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.3% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 49,039 | 10,405,585 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 4,501 | 151,729 | |
Series F(a)(b)(c) | 88,486 | 2,982,863 | |
13,540,177 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 22,348 | 46,931 | |
Series C(a)(b)(c) | 87,936 | 184,666 | |
Series D(a)(b)(c) | 219,600 | 461,160 | |
692,757 | |||
Broadline Retail - 0.1% | |||
Meesho Series F (a)(b)(c) | 66,982 | 4,636,494 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 1,400 | 408,842 | |
Textiles, Apparel & Luxury Goods - 0.0% | |||
Freenome, Inc.: | |||
Series C(a)(b)(c) | 141,369 | 1,101,265 | |
Series D(a)(b)(c) | 125,665 | 1,027,940 | |
Laronde, Inc. Series B (a)(b)(c) | 81,282 | 1,526,476 | |
3,655,681 | |||
TOTAL CONSUMER DISCRETIONARY | 9,393,774 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 19,907 | 1,713,595 | |
Series H(a)(b)(c) | 20,720 | 1,783,578 | |
Instacart, Inc.: | |||
Series H(a)(b)(c) | 12,458 | 510,155 | |
Series I(a)(b)(c) | 6,009 | 246,069 | |
4,253,397 | |||
Food Products - 0.0% | |||
AgBiome LLC Series D (a)(b)(c) | 511,821 | 2,594,932 | |
Bowery Farming, Inc. Series C1 (a)(b)(c) | 27,155 | 253,085 | |
2,848,017 | |||
TOTAL CONSUMER STAPLES | 7,101,414 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Paragon Biosciences Emalex Capital, Inc.: | |||
Series C(a)(b)(c) | 109,967 | 1,188,743 | |
Series D1(b)(c) | 190,900 | 2,069,356 | |
Series D2(b)(c) | 15,557 | 159,459 | |
Saluda Medical, Inc.: | |||
Series D(b)(c) | 154,870 | 1,798,041 | |
Series E(b)(c) | 287,593 | 2,318,000 | |
7,533,599 | |||
HEALTH CARE - 0.6% | |||
Biotechnology - 0.4% | |||
Altos Labs, Inc. Series B (b)(c) | 124,464 | 2,383,486 | |
Ankyra Therapeutics Series B (a)(b)(c) | 329,325 | 1,379,872 | |
Apogee Therapeutics Series B (b)(c) | 532,865 | 1,758,455 | |
Asimov, Inc. Series B (a)(b)(c) | 19,920 | 963,929 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 282,257 | 784,674 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 258,638 | 1,448,373 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(b)(c) | 4,476 | 949,941 | |
Series D2(a)(b)(c) | 1,254 | 236,454 | |
Cleerly, Inc. Series C (b)(c) | 294,888 | 3,444,292 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 155,443 | 1,629,043 | |
Dianthus Therapeutics, Inc. Series A (a)(b)(c) | 333,765 | 1,485,254 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 125,057 | 2,057,188 | |
Series C(a)(b)(c) | 114,255 | 1,879,495 | |
ElevateBio LLC Series C (a)(b)(c) | 247,600 | 1,039,920 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 272,597 | 2,963,129 | |
Generate Biomedicines Series B (a)(b)(c) | 191,856 | 1,931,990 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 277,957 | 1,175,758 | |
Series E(a)(b)(c) | 215,182 | 910,220 | |
Korro Bio, Inc.: | |||
Series B1(a)(b)(c) | 379,289 | 838,229 | |
Series B2(a)(b)(c) | 356,095 | 801,214 | |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | 1,759,782 | 3,237,999 | |
National Resilience, Inc.: | |||
Series B(a)(b)(c) | 182,315 | 11,071,990 | |
Series C(a)(b)(c) | 74,748 | 4,539,446 | |
Odyssey Therapeutics, Inc. Series B (b)(c) | 458,024 | 2,899,292 | |
Quell Therapeutics Ltd. Series B (a)(b)(c) | 822,639 | 1,661,731 | |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | 14,028 | 945,768 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 587,934 | 1,522,749 | |
Series B1(a)(b)(c) | 313,559 | 928,135 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 241,456 | 951,337 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 283,817 | 2,213,773 | |
Series A1(b)(c) | 151,334 | 1,212,185 | |
61,245,321 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 145,007 | 6,944,385 | |
Kardium, Inc. Series D6 (a)(b)(c) | 1,087,032 | 1,076,162 | |
8,020,547 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(b)(c) | 756,226 | 650,354 | |
Series C(b)(c) | 1,833,120 | 1,283,184 | |
Conformal Medical, Inc.: | |||
Series C(a)(b)(c) | 140,186 | 614,015 | |
Series D(b)(c) | 153,658 | 780,583 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 260,848 | 461,701 | |
3,789,837 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 26,096 | 1,307,932 | |
Series E1(b)(c) | 21,357 | 1,070,413 | |
DNA Script: | |||
Series B(a)(b)(c) | 6 | 4,227 | |
Series C(a)(b)(c) | 2,549 | 1,795,856 | |
Omada Health, Inc. Series E (a)(b)(c) | 636,551 | 2,062,425 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 37,950 | 66,413 | |
Series B(a)(b)(c) | 196,968 | 482,572 | |
Series C(a)(b)(c) | 65,704 | 182,657 | |
Wugen, Inc. Series B (a)(b)(c) | 121,894 | 609,470 | |
7,581,965 | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series C (a)(b)(c) | 582 | 136,293 | |
Galvanize Therapeutics Series B (a)(b)(c) | 1,125,997 | 1,902,935 | |
2,039,228 | |||
TOTAL HEALTH CARE | 82,676,898 | ||
INDUSTRIALS - 0.1% | |||
Aerospace & Defense - 0.1% | |||
Space Exploration Technologies Corp. Series N (a)(b)(c) | 19,900 | 15,323,000 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 10,545 | 865,112 | |
Series B, 6.00%(a)(b)(c) | 20,919 | 1,820,371 | |
2,685,483 | |||
TOTAL INDUSTRIALS | 18,008,483 | ||
INFORMATION TECHNOLOGY - 0.2% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. Series E (a)(b)(c) | 754,820 | 437,796 | |
Menlo Micro, Inc. Series C (a)(b)(c) | 993,699 | 924,140 | |
1,361,936 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(b)(c) | 43,034 | 797,420 | |
Astera Labs, Inc.: | |||
Series A(b)(c) | 80,597 | 716,507 | |
Series B(b)(c) | 13,723 | 121,997 | |
Series C(a)(b)(c) | 372,400 | 3,310,636 | |
Series D(b)(c) | 273,573 | 2,432,064 | |
GaN Systems, Inc.: | |||
Series F1(a)(b)(c) | 63,044 | 701,680 | |
Series F2(a)(b)(c) | 33,289 | 370,507 | |
Retym, Inc. Series C (b)(c) | 165,860 | 1,290,689 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 299,482 | 1,793,897 | |
Series B1(a)(b)(c) | 167,848 | 1,186,685 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 122,201 | 857,851 | |
13,579,933 | |||
Software - 0.1% | |||
Bolt Technology OU Series E (a)(b)(c) | 17,815 | 2,302,613 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 37,815 | 1,825,330 | |
Series H(a)(b)(c) | 56,085 | 2,707,223 | |
Evozyne LLC Series A (a)(b)(c) | 78,000 | 1,344,720 | |
Skyryse, Inc. Series B (a)(b)(c) | 117,653 | 2,476,596 | |
Stripe, Inc. Series H (a)(b)(c) | 14,400 | 289,872 | |
Tenstorrent, Inc. Series C1 (a)(b)(c) | 16,900 | 953,836 | |
11,900,190 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (b)(c) | 136,712 | 2,249,842 | |
TOTAL INFORMATION TECHNOLOGY | 29,091,901 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 42,859 | 1,474,778 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 301,038 | 10,677,818 | |
TOTAL MATERIALS | 12,152,596 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials Series C (a)(b)(c) | 20,469 | 939,322 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 180,438,164 | ||
Nonconvertible Preferred Stocks - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Waymo LLC Series A2 (a)(b)(c) | 6,592 | 303,891 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 127,757 | 3,131,324 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 3,435,215 | ||
TOTAL PREFERRED STOCKS (Cost $184,621,817) | 183,873,379 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (h) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (b)(c) | 310,600 | 319,856 | |
4% 6/12/27 (b)(c) | 82,200 | 84,650 | |
4.5% 10/27/25 (b)(c)(i) | 2,076,728 | 2,051,184 | |
2,455,690 | |||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (b)(c) | 2,000,000 | 2,218,600 | |
TOTAL CONVERTIBLE BONDS (Cost $4,469,528) | 4,674,290 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) | Value ($) | ||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(j) | 1,541,987 | 1,503,437 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Semiconductors & Semiconductor Equipment - 0.0% | |||
GaN Systems, Inc. 0% (b)(c)(j) | 1,477,665 | 1,823,882 | |
Software - 0.0% | |||
Tenstorrent, Inc. 0% (b)(c)(j) | 940,000 | 892,060 | |
TOTAL INFORMATION TECHNOLOGY | 2,715,942 | ||
TOTAL PREFERRED SECURITIES (Cost $3,959,652) | 4,219,379 | ||
Money Market Funds - 3.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (k) | 64,464,597 | 64,477,490 | |
Fidelity Securities Lending Cash Central Fund 5.14% (k)(l) | 374,192,896 | 374,230,315 | |
TOTAL MONEY MARKET FUNDS (Cost $438,707,805) | 438,707,805 | ||
TOTAL INVESTMENT IN SECURITIES - 102.6% (Cost $11,495,102,282) | 14,662,913,971 |
NET OTHER ASSETS (LIABILITIES) - (2.6)% | (378,035,191) |
NET ASSETS - 100.0% | 14,284,878,780 |
(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 $265,722,196 or 1.9% 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 $49,887,261 or 0.3% of net assets. |
(f) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(g) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(j) | Security is perpetual in nature with no stated maturity date. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(l) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
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 |
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 |
Boundless Bio, Inc. Series C | 4/05/23 | 1,283,184 |
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 |
Cibus Corp. Series F | 12/02/22 | 580,948 |
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 |
Conformal Medical, Inc. Series D | 5/26/23 | 780,530 |
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 |
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 |
Lightmatter, Inc. Series C | 5/19/23 | 2,249,842 |
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% 5/22/27 | 6/04/20 | 310,600 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 82,200 |
Neutron Holdings, Inc. 4.5% 10/27/25 | 10/29/21 - 4/27/23 | 2,076,728 |
Oddity Tech Ltd. | 1/06/22 | 1,594,239 |
Odyssey Therapeutics, Inc. 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 |
Retym, Inc. Series C | 5/17/23 | 1,290,689 |
SalioGen Therapeutics, Inc. Series B | 12/10/21 | 1,485,060 |
Saluda Medical, Inc. warrants 1/20/27 | 1/20/22 | 0 |
Saluda Medical, Inc. Series D | 1/20/22 | 1,975,505 |
Saluda Medical, Inc. Series E | 4/06/23 | 2,321,968 |
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 |
Wugen, Inc. Series B | 7/09/21 | 945,276 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 22,944,514 | 647,851,786 | 606,318,810 | 1,335,311 | - | - | 64,477,490 | 0.2% |
Fidelity Securities Lending Cash Central Fund 5.14% | 347,584,554 | 936,177,834 | 909,532,073 | 530,826 | - | - | 374,230,315 | 1.3% |
Total | 370,529,068 | 1,584,029,620 | 1,515,850,883 | 1,866,137 | - | - | 438,707,805 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,086,505,790 | 1,069,445,813 | - | 17,059,977 |
Consumer Discretionary | 2,606,900,690 | 2,582,030,357 | - | 24,870,333 |
Consumer Staples | 539,581,889 | 532,480,473 | - | 7,101,416 |
Energy | 246,171,041 | 246,171,041 | - | - |
Financials | 495,503,245 | 484,778,389 | - | 10,724,856 |
Health Care | 2,278,574,984 | 2,173,615,500 | 2,965,791 | 101,993,693 |
Industrials | 637,141,785 | 594,130,324 | - | 43,011,461 |
Information Technology | 6,141,818,117 | 6,111,011,674 | - | 30,806,443 |
Materials | 143,992,003 | 127,127,109 | - | 16,864,894 |
Real Estate | 27,603,316 | 27,603,316 | - | - |
Utilities | 11,519,637 | 10,580,315 | - | 939,322 |
Corporate Bonds | 4,674,290 | - | - | 4,674,290 |
Preferred Securities | 4,219,379 | - | - | 4,219,379 |
Money Market Funds | 438,707,805 | 438,707,805 | - | - |
Total Investments in Securities: | 14,662,913,971 | 14,397,682,116 | 2,965,791 | 262,266,064 |
Investments in Securities: | |||
Beginning Balance | $ | 246,494,517 | |
Net Realized Gain (Loss) on Investment Securities | 250 | ||
Net Unrealized Gain (Loss) on Investment Securities | (679,541) | ||
Cost of Purchases | 10,500,351 | ||
Proceeds of Sales | (325,997) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 6,276,484 | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 262,266,064 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | (698,502) | |
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, corporate actions or exchanges. 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. 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 | ||||
May 31, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $363,680,621) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $11,056,394,477) | $ | 14,224,206,166 | ||
Fidelity Central Funds (cost $438,707,805) | 438,707,805 | |||
Total Investment in Securities (cost $11,495,102,282) | $ | 14,662,913,971 | ||
Cash | 30,326 | |||
Foreign currency held at value (cost $249) | 249 | |||
Receivable for investments sold | 30,812,681 | |||
Receivable for fund shares sold | 7,942,584 | |||
Dividends receivable | 6,824,435 | |||
Interest receivable | 144,237 | |||
Distributions receivable from Fidelity Central Funds | 400,670 | |||
Other receivables | 32,538 | |||
Total assets | 14,709,101,691 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 37,792,941 | ||
Delayed delivery | 1,770,108 | |||
Payable for fund shares redeemed | 4,482,670 | |||
Accrued management fee | 5,126,915 | |||
Other payables and accrued expenses | 822,507 | |||
Collateral on securities loaned | 374,227,770 | |||
Total Liabilities | 424,222,911 | |||
Net Assets | $ | 14,284,878,780 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 11,907,288,032 | ||
Total accumulated earnings (loss) | 2,377,590,748 | |||
Net Assets | $ | 14,284,878,780 | ||
Net Asset Value , offering price and redemption price per share ($14,284,878,780 ÷ 746,155,043 shares) | $ | 19.14 |
Statement of Operations | ||||
Six months ended May 31, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 36,566,006 | ||
Interest | 138,882 | |||
Income from Fidelity Central Funds (including $530,826 from security lending) | 1,866,137 | |||
Total Income | 38,571,025 | |||
Expenses | ||||
Management fee | $ | 27,254,653 | ||
Independent trustees' fees and expenses | 36,557 | |||
Miscellaneous | 265,714 | |||
Total expenses before reductions | 27,556,924 | |||
Expense reductions | (1,445) | |||
Total expenses after reductions | 27,555,479 | |||
Net Investment income (loss) | 11,015,546 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $281,119) | (172,477,060) | |||
Redemptions in-kind | 62,745,278 | |||
Foreign currency transactions | 40,495 | |||
Futures contracts | 803,529 | |||
Total net realized gain (loss) | (108,887,758) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $583,463) | 1,815,853,442 | |||
Assets and liabilities in foreign currencies | (45,340) | |||
Total change in net unrealized appreciation (depreciation) | 1,815,808,102 | |||
Net gain (loss) | 1,706,920,344 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,717,935,890 |
Statement of Changes in Net Assets | ||||
Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 11,015,546 | $ | 17,841,827 |
Net realized gain (loss) | (108,887,758) | (391,467,265) | ||
Change in net unrealized appreciation (depreciation) | 1,815,808,102 | (3,952,492,614) | ||
Net increase (decrease) in net assets resulting from operations | 1,717,935,890 | (4,326,118,052) | ||
Distributions to shareholders | (18,540,597) | (380,672,676) | ||
Share transactions | ||||
Proceeds from sales of shares | 2,009,160,862 | 4,035,985,469 | ||
Reinvestment of distributions | 17,792,720 | 379,380,027 | ||
Cost of shares redeemed | (1,053,075,062) | (3,067,304,400) | ||
Net increase (decrease) in net assets resulting from share transactions | 973,878,520 | 1,348,061,096 | ||
Total increase (decrease) in net assets | 2,673,273,813 | (3,358,729,632) | ||
Net Assets | ||||
Beginning of period | 11,611,604,967 | 14,970,334,599 | ||
End of period | $ | 14,284,878,780 | $ | 11,611,604,967 |
Other Information | ||||
Shares | ||||
Sold | 117,499,083 | 224,328,843 | ||
Issued in reinvestment of distributions | 1,171,344 | 16,416,271 | ||
Redeemed | (62,538,903) | (167,608,003) | ||
Net increase (decrease) | 56,131,524 | 73,137,111 | ||
Fidelity® Growth Company K6 Fund |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 16.83 | $ | 24.27 | $ | 18.67 | $ | 11.19 | $ | 10.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .02 | .03 | - D,E | - D | .01 | |||||
Net realized and unrealized gain (loss) | 2.32 | (6.87) | 5.78 | 7.49 | 1.18 | |||||
Total from investment operations | 2.34 | (6.84) | 5.78 | 7.49 | 1.19 | |||||
Distributions from net investment income | (.03) | - | (.02) | (.01) | - | |||||
Distributions from net realized gain | - | (.60) | (.16) | - | - | |||||
Total distributions | (.03) | (.60) | (.18) | (.01) | - | |||||
Net asset value, end of period | $ | 19.14 | $ | 16.83 | $ | 24.27 | $ | 18.67 | $ | 11.19 |
Total Return F,G | 13.93% | (28.85)% | 31.20% | 66.95% | 11.90% | |||||
Ratios to Average Net Assets C,H,I | ||||||||||
Expenses before reductions | .45% J | .45% | .45% | .45% | .45% J | |||||
Expenses net of fee waivers, if any | .45% J | .45% | .45% | .45% | .45% J | |||||
Expenses net of all reductions | .45% J | .45% | .45% | .45% | .45% J | |||||
Net investment income (loss) | .18% J | .15% | (.01)% E | .01% | .29% J | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 14,284,879 | $ | 11,611,605 | $ | 14,970,335 | $ | 8,000,089 | $ | 1,853,643 |
Portfolio turnover rate K,L | 12% J | 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 | $253,372,395 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.0 - 26.0 / 12.1 | Increase |
Enterprise value/Revenue multiple (EV/R) | 2.2 - 25.0 / 6.9 | Increase | |||
Enterprise value/Gross profit multiple (EV/GP) | 5.0 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.31 / $0.28 | Increase | ||
Market approach | Transaction price | $0.70 - $215.03 / $22.17 | Increase | ||
Discount rate | 5.0% - 52.5% / 23.4% | Decrease | |||
Discounted cash flow | Discount rate | 8.0% - 14.1% / 13.9% | Decrease | ||
Weighted average cost of capital (WACC) | 20.5% - 38.4% / 31.0% | Decrease | |||
Exit multiple | 2.0 - 7.3 / 3.8 | Increase | |||
Probability rate | 10.0% - 70.0% / 40.0% | Increase | |||
Black scholes | Discount rate | 3.5% - 5.3% / 4.2% | Increase | ||
Volatility | 45.0% - 100.0% / 75.7% | Increase | |||
Term | 1.0 - 5.0 / 3.1 | Increase | |||
Corporate Bonds | $4,674,290 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 2.5 - 5.5 / 3.9 | Increase |
Discount rate | 29.2% | Decrease | |||
Probability rate | 10.0% - 50.0% / 33.3% | Increase | |||
Black scholes | Volatility | 75.0% | Increase | ||
Term | 0.6 | Increase | |||
Preferred Securities | $4,219,379 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 5.0 | Increase |
Market approach | Transaction price | $59.45 - $100.00 / $84.90 | Increase | ||
Discounted cash flow | Discount rate | 20.0% | Decrease | ||
Black scholes | Discount rate | 4.0% - 4.2% / 4.1% | Increase | ||
Volatility | 70.0% | Increase | |||
Term | 2.0 - 3.0 / 2.6 | Increase |
Gross unrealized appreciation | $4,345,480,945 |
Gross unrealized depreciation | (1,216,176,698) |
Net unrealized appreciation (depreciation) | $3,129,304,247 |
Tax cost | $11,533,609,724 |
Short-term | $(477,411,298) |
Long-term | (174,724,987) |
Total capital loss carryforward | $(652,136,285) |
$ Amount | % of Net Assets | |
Fidelity Growth Company K6 Fund | 12,558,723 | .09 |
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 | 1,237,712,958 | 738,443,301 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 10,848,744 | 62,745,278 | 176,254,786 |
Shares | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 36,252,195 | 617,389,453 |
Shares | Total net realized gain or loss ($) | 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 |
Amount | |
Fidelity Growth Company K6 Fund | $27,020 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company K6 Fund | 170,908,784 | 57,074,766 | (9,533,859) |
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 | $57,115 | $6,057 | $1,647,495 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® Growth Company K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,139.30 | $ 2.40 | |||||||
Hypothetical- B | $ 1,000 | $ 1,022.69 | $ 2.27 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 5.9 | |
Apple, Inc. | 5.8 | |
Alphabet, Inc. Class A | 2.2 | |
Eli Lilly & Co. | 2.0 | |
Meta Platforms, Inc. Class A | 2.0 | |
Exxon Mobil Corp. | 1.9 | |
NVIDIA Corp. | 1.9 | |
Visa, Inc. Class A | 1.7 | |
Amazon.com, Inc. | 1.7 | |
UnitedHealth Group, Inc. | 1.6 | |
26.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 26.4 | |
Industrials | 13.9 | |
Health Care | 12.9 | |
Financials | 10.0 | |
Consumer Discretionary | 10.0 | |
Communication Services | 8.3 | |
Energy | 5.4 | |
Consumer Staples | 4.2 | |
Materials | 3.9 | |
Real Estate | 1.8 | |
Utilities | 1.8 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.7% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 8.3% | |||
Entertainment - 2.9% | |||
Activision Blizzard, Inc. | 90,600 | 7,266 | |
Endeavor Group Holdings, Inc. (a) | 628,117 | 14,145 | |
Netflix, Inc. (a) | 83,900 | 33,160 | |
Sea Ltd. ADR (a) | 63,200 | 3,628 | |
Spotify Technology SA (a) | 79,700 | 11,867 | |
Universal Music Group NV (b) | 514,800 | 10,212 | |
Universal Music Group NV rights (a) | 514,800 | 149 | |
World Wrestling Entertainment, Inc. Class A | 27,500 | 2,786 | |
83,213 | |||
Interactive Media & Services - 4.2% | |||
Alphabet, Inc. Class A (a) | 510,900 | 62,774 | |
Meta Platforms, Inc. Class A (a) | 219,100 | 58,000 | |
120,774 | |||
Media - 1.2% | |||
Comcast Corp. Class A | 925,300 | 36,411 | |
TOTAL COMMUNICATION SERVICES | 240,398 | ||
CONSUMER DISCRETIONARY - 10.0% | |||
Automobile Components - 0.5% | |||
Aptiv PLC (a) | 159,900 | 14,084 | |
Broadline Retail - 1.7% | |||
Amazon.com, Inc. (a) | 396,900 | 47,858 | |
Hotels, Restaurants & Leisure - 3.0% | |||
Airbnb, Inc. Class A (a) | 68,900 | 7,563 | |
Amadeus IT Holding SA Class A | 209,500 | 15,035 | |
Booking Holdings, Inc. (a) | 7,000 | 17,561 | |
Chipotle Mexican Grill, Inc. (a) | 5,100 | 10,590 | |
Churchill Downs, Inc. | 133,400 | 18,118 | |
Hilton Worldwide Holdings, Inc. | 93,200 | 12,686 | |
Yum! Brands, Inc. | 52,400 | 6,743 | |
88,296 | |||
Household Durables - 1.0% | |||
Lennar Corp. Class A | 157,000 | 16,818 | |
NVR, Inc. (a) | 2,310 | 12,830 | |
29,648 | |||
Specialty Retail - 1.6% | |||
Dick's Sporting Goods, Inc. | 69,800 | 8,900 | |
Floor & Decor Holdings, Inc. Class A (a)(c) | 48,600 | 4,438 | |
Industria de Diseno Textil SA | 409,600 | 13,703 | |
TJX Companies, Inc. | 258,600 | 19,858 | |
46,899 | |||
Textiles, Apparel & Luxury Goods - 2.2% | |||
Brunello Cucinelli SpA | 309,800 | 26,723 | |
NIKE, Inc. Class B | 173,700 | 18,284 | |
Ralph Lauren Corp. | 64,300 | 6,836 | |
Tapestry, Inc. | 273,100 | 10,929 | |
62,772 | |||
TOTAL CONSUMER DISCRETIONARY | 289,557 | ||
CONSUMER STAPLES - 4.1% | |||
Beverages - 2.4% | |||
Boston Beer Co., Inc. Class A (a) | 32,200 | 10,868 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 30,800 | 7,483 | |
Diageo PLC sponsored ADR (c) | 44,700 | 7,510 | |
Keurig Dr. Pepper, Inc. | 300,300 | 9,345 | |
The Coca-Cola Co. | 540,800 | 32,264 | |
67,470 | |||
Consumer Staples Distribution & Retail - 1.5% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 147,500 | 7,142 | |
BJ's Wholesale Club Holdings, Inc. (a) | 237,900 | 14,904 | |
Dollar General Corp. | 17,600 | 3,539 | |
Performance Food Group Co. (a) | 163,000 | 9,012 | |
Target Corp. | 70,200 | 9,191 | |
43,788 | |||
Personal Care Products - 0.2% | |||
Kenvue, Inc. | 254,500 | 6,385 | |
TOTAL CONSUMER STAPLES | 117,643 | ||
ENERGY - 5.4% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 368,000 | 10,028 | |
Halliburton Co. | 176,300 | 5,051 | |
Schlumberger Ltd. | 421,300 | 18,044 | |
TechnipFMC PLC (a) | 552,900 | 7,265 | |
40,388 | |||
Oil, Gas & Consumable Fuels - 4.0% | |||
Antero Resources Corp. (a) | 311,400 | 6,356 | |
Canadian Natural Resources Ltd. | 253,400 | 13,651 | |
Cheniere Energy, Inc. | 87,900 | 12,286 | |
Exxon Mobil Corp. | 551,900 | 56,393 | |
Hess Corp. | 138,000 | 17,480 | |
Valero Energy Corp. | 101,700 | 10,886 | |
117,052 | |||
TOTAL ENERGY | 157,440 | ||
FINANCIALS - 10.0% | |||
Banks - 2.8% | |||
Bank of America Corp. | 1,042,800 | 28,979 | |
JPMorgan Chase & Co. | 134,800 | 18,294 | |
PNC Financial Services Group, Inc. | 81,200 | 9,405 | |
Wells Fargo & Co. | 659,300 | 26,247 | |
82,925 | |||
Capital Markets - 1.0% | |||
Coinbase Global, Inc. (a)(c) | 40,500 | 2,519 | |
Morgan Stanley | 241,000 | 19,704 | |
State Street Corp. | 118,900 | 8,088 | |
30,311 | |||
Financial Services - 3.5% | |||
Block, Inc. Class A (a) | 183,400 | 11,076 | |
Fiserv, Inc. (a) | 232,501 | 26,084 | |
Radian Group, Inc. | 226,123 | 5,775 | |
Shift4 Payments, Inc. (a) | 138,200 | 8,668 | |
Visa, Inc. Class A | 220,600 | 48,759 | |
100,362 | |||
Insurance - 2.7% | |||
Arch Capital Group Ltd. (a) | 165,000 | 11,501 | |
Chubb Ltd. | 180,909 | 33,613 | |
First American Financial Corp. | 121,700 | 6,685 | |
Hiscox Ltd. | 639,207 | 9,319 | |
Marsh & McLennan Companies, Inc. | 57,500 | 9,958 | |
RenaissanceRe Holdings Ltd. | 34,400 | 6,480 | |
77,556 | |||
TOTAL FINANCIALS | 291,154 | ||
HEALTH CARE - 12.4% | |||
Biotechnology - 1.2% | |||
Gilead Sciences, Inc. | 136,700 | 10,518 | |
Legend Biotech Corp. ADR (a) | 95,200 | 6,109 | |
Regeneron Pharmaceuticals, Inc. (a) | 22,500 | 16,550 | |
33,177 | |||
Health Care Equipment & Supplies - 2.9% | |||
Boston Scientific Corp. (a) | 551,000 | 28,365 | |
GE Healthcare Holding LLC | 125,137 | 9,950 | |
Hologic, Inc. (a) | 141,200 | 11,139 | |
Masimo Corp. (a) | 104,500 | 16,912 | |
Stryker Corp. | 63,500 | 17,499 | |
83,865 | |||
Health Care Providers & Services - 2.8% | |||
agilon health, Inc. (a) | 504,200 | 10,023 | |
Centene Corp. (a) | 154,500 | 9,642 | |
Cigna Group | 49,400 | 12,222 | |
LifeStance Health Group, Inc. (a) | 343,654 | 2,815 | |
UnitedHealth Group, Inc. | 95,900 | 46,726 | |
81,428 | |||
Health Care Technology - 0.1% | |||
Evolent Health, Inc. (d) | 142,400 | 3,942 | |
Life Sciences Tools & Services - 1.9% | |||
Danaher Corp. | 54,400 | 12,491 | |
IQVIA Holdings, Inc. (a) | 47,800 | 9,412 | |
Thermo Fisher Scientific, Inc. | 43,600 | 22,169 | |
West Pharmaceutical Services, Inc. | 35,800 | 11,980 | |
56,052 | |||
Pharmaceuticals - 3.5% | |||
AstraZeneca PLC (United Kingdom) | 115,300 | 16,794 | |
Eli Lilly & Co. | 135,100 | 58,020 | |
Merck & Co., Inc. | 120,400 | 13,293 | |
Novo Nordisk A/S Series B | 30,500 | 4,908 | |
UCB SA | 77,100 | 6,718 | |
99,733 | |||
TOTAL HEALTH CARE | 358,197 | ||
INDUSTRIALS - 13.6% | |||
Aerospace & Defense - 4.3% | |||
BWX Technologies, Inc. | 110,700 | 6,677 | |
Howmet Aerospace, Inc. | 364,900 | 15,599 | |
Lockheed Martin Corp. | 46,200 | 20,513 | |
Northrop Grumman Corp. | 32,800 | 14,284 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(d)(e) | 585,890 | 45,114 | |
Class C (a)(d)(e) | 8,180 | 630 | |
The Boeing Co. (a) | 108,400 | 22,298 | |
125,115 | |||
Building Products - 0.7% | |||
Builders FirstSource, Inc. (a) | 101,000 | 11,711 | |
Fortune Brands Home & Security, Inc. | 131,600 | 7,955 | |
19,666 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 102,200 | 18,149 | |
Willscot Mobile Mini Holdings (a) | 288,300 | 12,420 | |
30,569 | |||
Electrical Equipment - 1.4% | |||
Eaton Corp. PLC | 99,900 | 17,572 | |
Generac Holdings, Inc. (a) | 87,800 | 9,563 | |
Regal Rexnord Corp. | 107,300 | 13,937 | |
41,072 | |||
Ground Transportation - 0.9% | |||
Uber Technologies, Inc. (a) | 720,200 | 27,317 | |
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 258,012 | 26,196 | |
Machinery - 2.4% | |||
Caterpillar, Inc. | 74,200 | 15,267 | |
Fortive Corp. | 105,500 | 6,869 | |
Ingersoll Rand, Inc. | 284,520 | 16,121 | |
ITT, Inc. | 159,600 | 12,155 | |
Parker Hannifin Corp. | 61,800 | 19,803 | |
70,215 | |||
Professional Services - 1.5% | |||
FTI Consulting, Inc. (a) | 73,220 | 13,766 | |
KBR, Inc. | 266,200 | 15,711 | |
WNS Holdings Ltd. sponsored ADR (a) | 176,000 | 13,675 | |
43,152 | |||
Trading Companies & Distributors - 0.4% | |||
RS GROUP PLC | 533,300 | 5,285 | |
United Rentals, Inc. | 15,000 | 5,007 | |
10,292 | |||
TOTAL INDUSTRIALS | 393,594 | ||
INFORMATION TECHNOLOGY - 26.4% | |||
Communications Equipment - 1.1% | |||
Cisco Systems, Inc. | 638,500 | 31,714 | |
Electronic Equipment, Instruments & Components - 1.9% | |||
Flex Ltd. (a) | 898,400 | 22,810 | |
Jabil, Inc. | 186,200 | 16,669 | |
Keysight Technologies, Inc. (a) | 91,200 | 14,756 | |
54,235 | |||
IT Services - 0.7% | |||
MongoDB, Inc. Class A (a) | 52,200 | 15,336 | |
Shopify, Inc. Class A (a) | 102,900 | 5,885 | |
21,221 | |||
Semiconductors & Semiconductor Equipment - 7.5% | |||
Advanced Micro Devices, Inc. (a) | 354,700 | 41,929 | |
Analog Devices, Inc. | 114,300 | 20,310 | |
Marvell Technology, Inc. | 156,054 | 9,128 | |
NVIDIA Corp. | 144,100 | 54,519 | |
NXP Semiconductors NV | 134,800 | 24,143 | |
onsemi (a) | 294,700 | 24,637 | |
SolarEdge Technologies, Inc. (a) | 31,100 | 8,858 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 209,200 | 20,625 | |
Teradyne, Inc. | 140,700 | 14,097 | |
218,246 | |||
Software - 9.4% | |||
Adobe, Inc. (a) | 60,000 | 25,067 | |
Dynatrace, Inc. (a) | 386,000 | 19,682 | |
Microsoft Corp. | 523,400 | 171,888 | |
Oracle Corp. | 253,900 | 26,898 | |
Salesforce, Inc. (a) | 71,500 | 15,972 | |
Workday, Inc. Class A (a) | 62,500 | 13,249 | |
272,756 | |||
Technology Hardware, Storage & Peripherals - 5.8% | |||
Apple, Inc. | 943,000 | 167,147 | |
TOTAL INFORMATION TECHNOLOGY | 765,319 | ||
MATERIALS - 3.9% | |||
Chemicals - 1.1% | |||
Cabot Corp. | 92,100 | 6,307 | |
Celanese Corp. Class A | 70,700 | 7,354 | |
Element Solutions, Inc. | 351,700 | 6,306 | |
LG Chemical Ltd. | 12,310 | 6,450 | |
Westlake Corp. | 62,600 | 6,507 | |
32,924 | |||
Construction Materials - 0.4% | |||
Martin Marietta Materials, Inc. | 25,100 | 9,991 | |
Containers & Packaging - 0.7% | |||
Avery Dennison Corp. | 56,500 | 9,104 | |
O-I Glass, Inc. (a) | 533,200 | 11,048 | |
20,152 | |||
Metals & Mining - 1.7% | |||
Agnico Eagle Mines Ltd. (Canada) | 73,200 | 3,725 | |
Commercial Metals Co. | 94,800 | 4,053 | |
Franco-Nevada Corp. | 137,000 | 19,910 | |
Freeport-McMoRan, Inc. | 649,000 | 22,287 | |
49,975 | |||
TOTAL MATERIALS | 113,042 | ||
REAL ESTATE - 1.8% | |||
Equity Real Estate Investment Trusts (REITs) - 1.5% | |||
Essex Property Trust, Inc. | 29,500 | 6,374 | |
Gaming & Leisure Properties | 205,383 | 9,887 | |
Prologis (REIT), Inc. | 166,000 | 20,675 | |
Spirit Realty Capital, Inc. | 162,060 | 6,330 | |
43,266 | |||
Real Estate Management & Development - 0.3% | |||
CBRE Group, Inc. (a) | 122,200 | 9,155 | |
TOTAL REAL ESTATE | 52,421 | ||
UTILITIES - 1.8% | |||
Electric Utilities - 1.2% | |||
Constellation Energy Corp. | 159,700 | 13,418 | |
Southern Co. | 315,200 | 21,985 | |
35,403 | |||
Independent Power and Renewable Electricity Producers - 0.6% | |||
The AES Corp. | 482,800 | 9,530 | |
Vistra Corp. | 305,300 | 7,318 | |
16,848 | |||
TOTAL UTILITIES | 52,251 | ||
TOTAL COMMON STOCKS (Cost $2,256,928) | 2,831,016 | ||
Convertible Preferred Stocks - 0.9% | |||
Shares | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Bolt Threads, Inc.: | |||
Series D (a)(d)(e) | 390,327 | 113 | |
Series E (a)(d)(e) | 522,488 | 178 | |
291 | |||
CONSUMER STAPLES - 0.1% | |||
Food Products - 0.1% | |||
Bowery Farming, Inc. Series C1 (a)(d)(e) | 161,754 | 1,508 | |
HEALTH CARE - 0.5% | |||
Biotechnology - 0.5% | |||
National Resilience, Inc. Series B (a)(d)(e) | 243,347 | 14,778 | |
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(d)(e) | 7,570 | 5,829 | |
Construction & Engineering - 0.1% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(d)(e) | 49,853 | 4,338 | |
TOTAL INDUSTRIALS | 10,167 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $34,720) | 26,744 | ||
Money Market Funds - 1.6% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.14% (f) | 31,329,945 | 31,336 | |
Fidelity Securities Lending Cash Central Fund 5.14% (f)(g) | 14,367,534 | 14,369 | |
TOTAL MONEY MARKET FUNDS (Cost $45,705) | 45,705 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $2,337,353) | 2,903,465 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (5,808) |
NET ASSETS - 100.0% | 2,897,657 |
(a) | Non-income producing |
(b) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(c) | Security or a portion of the security is on loan at period end. |
(d) | 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 $76,430,000 or 2.6% of net assets. |
(e) | Level 3 security |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (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 |
Evolent Health, Inc. | 3/28/23 | 4,130 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 117,908 | 520,792 | 607,363 | 1,189 | - | (1) | 31,336 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.14% | 54,894 | 134,011 | 174,536 | 35 | - | - | 14,369 | 0.0% |
Total | 172,802 | 654,803 | 781,899 | 1,224 | - | (1) | 45,705 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 240,398 | 230,037 | 10,361 | - |
Consumer Discretionary | 289,848 | 260,819 | 28,738 | 291 |
Consumer Staples | 119,151 | 117,643 | - | 1,508 |
Energy | 157,440 | 157,440 | - | - |
Financials | 291,154 | 291,154 | - | - |
Health Care | 372,975 | 332,553 | 25,644 | 14,778 |
Industrials | 403,761 | 347,850 | - | 55,911 |
Information Technology | 765,319 | 765,319 | - | - |
Materials | 113,042 | 113,042 | - | - |
Real Estate | 52,421 | 52,421 | - | - |
Utilities | 52,251 | 52,251 | - | - |
Money Market Funds | 45,705 | 45,705 | - | - |
Total Investments in Securities: | 2,903,465 | 2,766,234 | 64,743 | 72,488 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Other Investments in Securities | |||
Beginning Balance | $ | 27,140 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (10,563) | ||
Cost of Purchases | - | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 16,577 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | (10,563) | |
Industrials | |||
Beginning Balance | $ | 54,360 | |
Net Realized Gain (Loss) on Investment Securities | (10,120) | ||
Net Unrealized Gain (Loss) on Investment Securities | 14,266 | ||
Cost of Purchases | - | ||
Proceeds of Sales | (2,595) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 55,911 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at May 31, 2023 | $ | 4,918 | |
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, corporate actions or exchanges. 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. 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) | May 31, 2023 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $13,952) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,291,648) | $ | 2,857,760 | ||
Fidelity Central Funds (cost $45,705) | 45,705 | |||
Total Investment in Securities (cost $2,337,353) | $ | 2,903,465 | ||
Restricted cash | 2,519 | |||
Foreign currency held at value (cost $162) | 161 | |||
Receivable for investments sold | 9,125 | |||
Receivable for fund shares sold | 1,839 | |||
Dividends receivable | 3,543 | |||
Distributions receivable from Fidelity Central Funds | 148 | |||
Other receivables | 77 | |||
Total assets | 2,920,877 | |||
Liabilities | ||||
Payable for investments purchased | ||||
Regular delivery | $ | 4,993 | ||
Delayed delivery | 149 | |||
Payable for fund shares redeemed | 1,570 | |||
Accrued management fee | 1,681 | |||
Other affiliated payables | 416 | |||
Other payables and accrued expenses | 52 | |||
Collateral on securities loaned | 14,359 | |||
Total Liabilities | 23,220 | |||
Net Assets | $ | 2,897,657 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,049,368 | ||
Total accumulated earnings (loss) | 848,289 | |||
Net Assets | $ | 2,897,657 | ||
Net Asset Value , offering price and redemption price per share ($2,897,657 ÷ 67,814 shares) | $ | 42.73 |
Statement of Operations | ||||
Amounts in thousands | Six months ended May 31, 2023 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 17,692 | ||
Income from Fidelity Central Funds (including $35 from security lending) | 1,224 | |||
Total Income | 18,916 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 7,124 | ||
Performance adjustment | 2,095 | |||
Transfer agent fees | 2,065 | |||
Accounting fees | 354 | |||
Custodian fees and expenses | 30 | |||
Independent trustees' fees and expenses | 8 | |||
Registration fees | 48 | |||
Audit | 43 | |||
Legal | 3 | |||
Miscellaneous | 8 | |||
Total expenses before reductions | 11,778 | |||
Expense reductions | (62) | |||
Total expenses after reductions | 11,716 | |||
Net Investment income (loss) | 7,200 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 159,833 | |||
Redemptions in-kind | 129,509 | |||
Foreign currency transactions | 208 | |||
Total net realized gain (loss) | 289,550 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (201,491) | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | (83) | |||
Total change in net unrealized appreciation (depreciation) | (201,575) | |||
Net gain (loss) | 87,975 | |||
Net increase (decrease) in net assets resulting from operations | $ | 95,175 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended May 31, 2023 (Unaudited) | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 7,200 | $ | 45,770 |
Net realized gain (loss) | 289,550 | 64,754 | ||
Change in net unrealized appreciation (depreciation) | (201,575) | 97,056 | ||
Net increase (decrease) in net assets resulting from operations | 95,175 | 207,580 | ||
Distributions to shareholders | (98,478) | (214,586) | ||
Share transactions | ||||
Proceeds from sales of shares | 607,463 | 141,891 | ||
Reinvestment of distributions | 92,606 | 203,394 | ||
Cost of shares redeemed | (379,185) | (387,959) | ||
Net increase (decrease) in net assets resulting from share transactions | 320,884 | (42,674) | ||
Total increase (decrease) in net assets | 317,581 | (49,680) | ||
Net Assets | ||||
Beginning of period | 2,580,076 | 2,629,756 | ||
End of period | $ | 2,897,657 | $ | 2,580,076 |
Other Information | ||||
Shares | ||||
Sold | 14,429 | 3,525 | ||
Issued in reinvestment of distributions | 2,343 | 4,871 | ||
Redeemed | (9,064) | (9,529) | ||
Net increase (decrease) | 7,708 | (1,133) | ||
Fidelity® New Millennium Fund® |
Six months ended (Unaudited) May 31, 2023 | Years ended November 30, 2022 | 2021 | 2020 | 2019 | 2018 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 42.93 | $ | 42.94 | $ | 37.77 | $ | 38.43 | $ | 40.52 | $ | 42.70 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .11 | .75 | .62 | .54 | .62 | .43 | ||||||
Net realized and unrealized gain (loss) | 1.27 | 2.77 | 7.70 | .45 | 3.11 | .87 | ||||||
Total from investment operations | 1.38 | 3.52 | 8.32 | .99 | 3.73 | 1.30 | ||||||
Distributions from net investment income | (.64) | (.85) | (.58) | (.36) | (.39) | (.36) | ||||||
Distributions from net realized gain | (.94) | (2.68) | (2.56) | (1.29) | (5.43) | (3.12) | ||||||
Total distributions | (1.58) | (3.53) | (3.15) C | (1.65) | (5.82) | (3.48) | ||||||
Net asset value, end of period | $ | 42.73 | $ | 42.93 | $ | 42.94 | $ | 37.77 | $ | 38.43 | $ | 40.52 |
Total Return D,E | 3.52% | 8.45% | 23.56% | 2.60% | 12.82% | 3.19% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .87% H | .54% | .49% | .46% | .61% | .64% | ||||||
Expenses net of fee waivers, if any | .86% H | .54% | .48% | .46% | .61% | .64% | ||||||
Expenses net of all reductions | .86% H | .54% | .48% | .45% | .61% | .63% | ||||||
Net investment income (loss) | .53% H | 1.83% | 1.46% | 1.61% | 1.72% | 1.03% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 2,898 | $ | 2,580 | $ | 2,630 | $ | 2,331 | $ | 2,991 | $ | 3,206 |
Portfolio turnover rate I | 87% H,J | 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 | $72,488 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 15.8 | Increase | |
Enterprise value/Revenue multiple (EV/R) | 1.5 - 9.0 / 6.9 | Increase | ||||
Recovery value | Recovery value | $0.00 | Increase | |||
Market approach | Transaction price | $60.73 | Increase | |||
Gross unrealized appreciation | $673,948 |
Gross unrealized depreciation | (107,968) |
Net unrealized appreciation (depreciation) | $565,980 |
Tax cost | $2,337,485 |
Purchases ($) | Sales ($) | |
Fidelity New Millennium Fund | 1,720,710 | 1,162,736 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity New Millennium Fund | 5,655 | 129,509 | 237,208 |
% of Average Net Assets | |
Fidelity New Millennium Fund | .03 |
Amount | |
Fidelity New Millennium Fund | $39 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity New Millennium Fund | 153,691 | 31,538 | 7,806 |
Amount | |
Fidelity New Millennium Fund | $3 |
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 | $4 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (December 1, 2022 to May 31, 2023). |
Annualized Expense Ratio- A | Beginning Account Value December 1, 2022 | Ending Account Value May 31, 2023 | Expenses Paid During Period- C December 1, 2022 to May 31, 2023 | |||||||
Fidelity® New Millennium Fund® | .86% | |||||||||
Actual | $ 1,000 | $ 1,035.20 | $ 4.36 | |||||||
Hypothetical- B | $ 1,000 | $ 1,020.64 | $ 4.33 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
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 Fidelity Mt. Vernon Street 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 Fidelity Mt. Vernon Street Trust’s (the “Trust”) 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) | Not applicable. |
(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: | July 20, 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: | July 20, 2023 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | July 20, 2023 |