UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-03583
Fidelity Mt. Vernon Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)
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: | November 30, 2023 |
Item 1.
Reports to Stockholders
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Growth Strategies Fund | 6.68% | 10.42% | 9.72% |
Class K | 6.81% | 10.56% | 9.87% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Strategies Fund, a class of the fund, on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell Midcap® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Cardinal Health, Inc. | 3.0 | |
Apollo Global Management, Inc. | 2.7 | |
Old Dominion Freight Lines, Inc. | 2.5 | |
Copart, Inc. | 2.5 | |
MSCI, Inc. | 2.3 | |
ResMed, Inc. | 2.3 | |
Molina Healthcare, Inc. | 2.2 | |
W.W. Grainger, Inc. | 2.2 | |
Cheniere Energy, Inc. | 2.2 | |
Gartner, Inc. | 2.2 | |
24.1 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 25.7 | |
Information Technology | 20.3 | |
Health Care | 18.6 | |
Financials | 10.2 | |
Consumer Discretionary | 9.7 | |
Energy | 5.4 | |
Communication Services | 3.5 | |
Materials | 1.9 | |
Consumer Staples | 1.7 | |
Utilities | 0.5 | |
Real Estate | 0.5 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.0% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 3.5% | |||
Entertainment - 0.1% | |||
Sea Ltd. ADR (a) | 26,000 | 942 | |
Interactive Media & Services - 1.8% | |||
Pinterest, Inc. Class A (a) | 1,282,300 | 43,688 | |
Zoominfo Technologies, Inc. (a) | 950,000 | 13,652 | |
57,340 | |||
Media - 1.6% | |||
The Trade Desk, Inc. (a) | 720,500 | 50,766 | |
TOTAL COMMUNICATION SERVICES | 109,048 | ||
CONSUMER DISCRETIONARY - 9.7% | |||
Distributors - 0.4% | |||
Pool Corp. | 32,500 | 11,288 | |
Diversified Consumer Services - 0.6% | |||
Duolingo, Inc. (a) | 88,000 | 18,682 | |
Hotels, Restaurants & Leisure - 2.0% | |||
Cava Group, Inc. (b) | 6,800 | 231 | |
Chipotle Mexican Grill, Inc. (a) | 8,230 | 18,125 | |
Choice Hotels International, Inc. (b) | 39,700 | 4,378 | |
Domino's Pizza, Inc. | 59,400 | 23,338 | |
Dutch Bros, Inc. (a) | 166,800 | 4,459 | |
Wyndham Hotels & Resorts, Inc. | 81,600 | 6,311 | |
Yum! Brands, Inc. | 37,570 | 4,717 | |
61,559 | |||
Household Durables - 2.6% | |||
Lennar Corp. Class A | 113,100 | 14,468 | |
NVR, Inc. (a) | 2,342 | 14,416 | |
PulteGroup, Inc. | 421,500 | 37,269 | |
TopBuild Corp. (a) | 58,200 | 17,214 | |
83,367 | |||
Specialty Retail - 4.0% | |||
AutoZone, Inc. (a) | 14,895 | 38,875 | |
Dick's Sporting Goods, Inc. | 174,967 | 22,763 | |
Murphy U.S.A., Inc. | 77,400 | 28,603 | |
O'Reilly Automotive, Inc. (a) | 33,383 | 32,795 | |
Tractor Supply Co. (b) | 23,000 | 4,669 | |
127,705 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 4,687 | 3,112 | |
TOTAL CONSUMER DISCRETIONARY | 305,713 | ||
CONSUMER STAPLES - 1.7% | |||
Beverages - 0.5% | |||
Brown-Forman Corp. Class B (non-vtg.) (b) | 214,622 | 12,607 | |
Celsius Holdings, Inc. (a)(b) | 60,000 | 2,971 | |
15,578 | |||
Consumer Staples Distribution & Retail - 1.0% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 484,100 | 31,263 | |
Food Products - 0.2% | |||
Bunge Global SA | 75,200 | 8,262 | |
TOTAL CONSUMER STAPLES | 55,103 | ||
ENERGY - 5.4% | |||
Energy Equipment & Services - 0.8% | |||
TechnipFMC PLC | 1,237,100 | 25,633 | |
Oil, Gas & Consumable Fuels - 4.6% | |||
APA Corp. | 819,000 | 29,484 | |
Cheniere Energy, Inc. | 386,500 | 70,401 | |
Hess Corp. | 265,987 | 37,387 | |
Valero Energy Corp. | 61,600 | 7,722 | |
144,994 | |||
TOTAL ENERGY | 170,627 | ||
FINANCIALS - 10.2% | |||
Capital Markets - 5.8% | |||
Ameriprise Financial, Inc. | 155,000 | 54,794 | |
Ares Management Corp. | 225,600 | 25,324 | |
LPL Financial | 75,800 | 16,850 | |
MSCI, Inc. | 139,882 | 72,858 | |
Tradeweb Markets, Inc. Class A | 149,300 | 14,467 | |
184,293 | |||
Financial Services - 2.7% | |||
Apollo Global Management, Inc. | 921,000 | 84,732 | |
Insurance - 1.7% | |||
Arthur J. Gallagher & Co. | 145,100 | 36,130 | |
Globe Life, Inc. | 80,951 | 9,967 | |
Kinsale Capital Group, Inc. | 24,400 | 8,542 | |
54,639 | |||
TOTAL FINANCIALS | 323,664 | ||
HEALTH CARE - 18.6% | |||
Biotechnology - 0.2% | |||
Moderna, Inc. (a) | 70,107 | 5,447 | |
Health Care Equipment & Supplies - 7.2% | |||
DexCom, Inc. (a) | 570,900 | 65,950 | |
Haemonetics Corp. (a) | 221,437 | 17,908 | |
IDEXX Laboratories, Inc. (a) | 15,996 | 7,451 | |
Insulet Corp. (a) | 247,200 | 46,743 | |
Masimo Corp. (a) | 93,000 | 8,720 | |
Penumbra, Inc. (a) | 21,000 | 4,664 | |
ResMed, Inc. | 454,943 | 71,758 | |
Shockwave Medical, Inc. (a) | 34,991 | 6,108 | |
229,302 | |||
Health Care Providers & Services - 6.0% | |||
Cardinal Health, Inc. | 887,000 | 94,979 | |
Centene Corp. (a) | 315,000 | 23,209 | |
Molina Healthcare, Inc. (a) | 193,900 | 70,882 | |
189,070 | |||
Health Care Technology - 0.8% | |||
Veeva Systems, Inc. Class A (a) | 140,000 | 24,403 | |
Life Sciences Tools & Services - 4.4% | |||
Charles River Laboratories International, Inc. (a) | 159,000 | 31,336 | |
Mettler-Toledo International, Inc. (a) | 56,900 | 62,131 | |
West Pharmaceutical Services, Inc. | 134,000 | 47,002 | |
140,469 | |||
TOTAL HEALTH CARE | 588,691 | ||
INDUSTRIALS - 25.7% | |||
Aerospace & Defense - 2.8% | |||
Howmet Aerospace, Inc. | 448,392 | 23,585 | |
TransDigm Group, Inc. | 65,800 | 63,357 | |
86,942 | |||
Building Products - 2.7% | |||
Carrier Global Corp. | 750,000 | 38,970 | |
Trane Technologies PLC | 202,600 | 45,668 | |
84,638 | |||
Commercial Services & Supplies - 5.1% | |||
Cintas Corp. | 121,568 | 67,257 | |
Copart, Inc. | 1,565,394 | 78,614 | |
GFL Environmental, Inc. | 376,300 | 10,800 | |
Tetra Tech, Inc. | 31,992 | 5,060 | |
161,731 | |||
Construction & Engineering - 2.5% | |||
EMCOR Group, Inc. | 119,757 | 25,451 | |
Quanta Services, Inc. | 284,000 | 53,480 | |
78,931 | |||
Electrical Equipment - 2.9% | |||
AMETEK, Inc. | 154,650 | 24,006 | |
Atkore, Inc. (a) | 178,134 | 23,140 | |
nVent Electric PLC | 349,200 | 18,595 | |
Vertiv Holdings Co. | 570,000 | 24,886 | |
90,627 | |||
Ground Transportation - 2.9% | |||
Old Dominion Freight Lines, Inc. | 205,100 | 79,796 | |
Saia, Inc. (a) | 33,500 | 13,078 | |
92,874 | |||
Machinery - 2.6% | |||
IDEX Corp. | 25,066 | 5,055 | |
PACCAR, Inc. | 248,400 | 22,808 | |
Parker Hannifin Corp. | 91,000 | 39,419 | |
Toro Co. | 165,600 | 13,745 | |
81,027 | |||
Professional Services - 2.0% | |||
Booz Allen Hamilton Holding Corp. Class A | 82,930 | 10,377 | |
Verisk Analytics, Inc. | 217,400 | 52,487 | |
62,864 | |||
Trading Companies & Distributors - 2.2% | |||
W.W. Grainger, Inc. (b) | 90,000 | 70,757 | |
TOTAL INDUSTRIALS | 810,391 | ||
INFORMATION TECHNOLOGY - 20.3% | |||
Electronic Equipment, Instruments & Components - 3.0% | |||
Amphenol Corp. Class A | 589,700 | 53,657 | |
Keysight Technologies, Inc. (a) | 145,000 | 19,704 | |
Vontier Corp. | 648,964 | 21,890 | |
95,251 | |||
IT Services - 3.9% | |||
EPAM Systems, Inc. (a) | 85,100 | 21,972 | |
Gartner, Inc. (a) | 159,500 | 69,357 | |
MongoDB, Inc. Class A (a) | 33,100 | 13,761 | |
Twilio, Inc. Class A (a) | 260,000 | 16,817 | |
121,907 | |||
Semiconductors & Semiconductor Equipment - 6.2% | |||
Broadcom, Inc. | 9,197 | 8,514 | |
KLA Corp. | 13,700 | 7,461 | |
Lam Research Corp. | 9,974 | 7,141 | |
Lattice Semiconductor Corp. (a) | 716,000 | 41,922 | |
Monolithic Power Systems, Inc. | 70,000 | 38,410 | |
NXP Semiconductors NV | 54,186 | 11,058 | |
ON Semiconductor Corp. (a) | 915,000 | 65,267 | |
SolarEdge Technologies, Inc. (a) | 201,947 | 16,031 | |
195,804 | |||
Software - 7.2% | |||
Atlassian Corp. PLC (a) | 33,991 | 6,491 | |
Autodesk, Inc. (a) | 40,989 | 8,953 | |
Cadence Design Systems, Inc. (a) | 66,800 | 18,254 | |
Crowdstrike Holdings, Inc. (a) | 215,600 | 51,095 | |
Dynatrace, Inc. (a) | 578,200 | 30,963 | |
Fortinet, Inc. (a) | 454,100 | 23,867 | |
HubSpot, Inc. (a) | 75,000 | 37,045 | |
Intuit, Inc. | 11,695 | 6,683 | |
Roper Technologies, Inc. | 19,666 | 10,585 | |
Synopsys, Inc. (a) | 34,500 | 18,741 | |
Zoom Video Communications, Inc. Class A (a) | 220,000 | 14,923 | |
227,600 | |||
TOTAL INFORMATION TECHNOLOGY | 640,562 | ||
MATERIALS - 1.9% | |||
Construction Materials - 0.6% | |||
CRH PLC | 297,000 | 18,637 | |
Metals & Mining - 1.3% | |||
Steel Dynamics, Inc. | 340,000 | 40,504 | |
TOTAL MATERIALS | 59,141 | ||
REAL ESTATE - 0.5% | |||
Equity Real Estate Investment Trusts (REITs) - 0.5% | |||
Iron Mountain, Inc. | 241,100 | 15,467 | |
UTILITIES - 0.5% | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
Vistra Corp. | 481,000 | 17,032 | |
TOTAL COMMON STOCKS (Cost $2,087,600) | 3,095,439 | ||
Money Market Funds - 3.1% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (c) | 66,409,778 | 66,423 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 30,844,749 | 30,848 | |
TOTAL MONEY MARKET FUNDS (Cost $97,270) | 97,271 | ||
TOTAL INVESTMENT IN SECURITIES - 101.1% (Cost $2,184,870) | 3,192,710 |
NET OTHER ASSETS (LIABILITIES) - (1.1)% | (34,279) |
NET ASSETS - 100.0% | 3,158,431 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.40% | 63,334 | 1,139,181 | 1,136,092 | 3,123 | - | - | 66,423 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 30,126 | 632,981 | 632,259 | 265 | - | - | 30,848 | 0.1% |
Total | 93,460 | 1,772,162 | 1,768,351 | 3,388 | - | - | 97,271 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 109,048 | 109,048 | - | - |
Consumer Discretionary | 305,713 | 305,713 | - | - |
Consumer Staples | 55,103 | 55,103 | - | - |
Energy | 170,627 | 170,627 | - | - |
Financials | 323,664 | 323,664 | - | - |
Health Care | 588,691 | 588,691 | - | - |
Industrials | 810,391 | 810,391 | - | - |
Information Technology | 640,562 | 640,562 | - | - |
Materials | 59,141 | 59,141 | - | - |
Real Estate | 15,467 | 15,467 | - | - |
Utilities | 17,032 | 17,032 | - | - |
Money Market Funds | 97,271 | 97,271 | - | - |
Total Investments in Securities: | 3,192,710 | 3,192,710 | - | - |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $30,455) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,087,600) | $ | 3,095,439 | ||
Fidelity Central Funds (cost $97,270) | 97,271 | |||
Total Investment in Securities (cost $2,184,870) | $ | 3,192,710 | ||
Receivable for investments sold | 3,501 | |||
Receivable for fund shares sold | 720 | |||
Dividends receivable | 1,367 | |||
Distributions receivable from Fidelity Central Funds | 319 | |||
Prepaid expenses | 4 | |||
Other receivables | 13 | |||
Total assets | 3,198,634 | |||
Liabilities | ||||
Payable for investments purchased | $ | 5,830 | ||
Payable for fund shares redeemed | 1,397 | |||
Accrued management fee | 1,618 | |||
Other affiliated payables | 434 | |||
Other payables and accrued expenses | 77 | |||
Collateral on securities loaned | 30,847 | |||
Total Liabilities | 40,203 | |||
Net Assets | $ | 3,158,431 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,226,314 | ||
Total accumulated earnings (loss) | 932,117 | |||
Net Assets | $ | 3,158,431 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Strategies : | ||||
Net Asset Value, offering price and redemption price per share ($2,962,005 ÷ 55,674 shares) | $ | 53.20 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($196,426 ÷ 3,642 shares)(a) | $ | 53.94 | ||
(a)Corresponding Net Asset Value does not calculate due to rounding of fractional net assets and/or shares. |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 20,342 | ||
Special dividends | 2,303 | |||
Income from Fidelity Central Funds (including $265 from security lending) | 3,388 | |||
Total Income | 26,033 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 15,781 | ||
Performance adjustment | 1,179 | |||
Transfer agent fees | 4,476 | |||
Accounting fees | 779 | |||
Custodian fees and expenses | 37 | |||
Independent trustees' fees and expenses | 17 | |||
Registration fees | 63 | |||
Audit | 67 | |||
Legal | 6 | |||
Miscellaneous | 14 | |||
Total expenses before reductions | 22,419 | |||
Expense reductions | (186) | |||
Total expenses after reductions | 22,233 | |||
Net Investment income (loss) | 3,800 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 93,683 | |||
Redemptions in-kind | 193,732 | |||
Foreign currency transactions | 1 | |||
Total net realized gain (loss) | 287,416 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (99,121) | |||
Total change in net unrealized appreciation (depreciation) | (99,121) | |||
Net gain (loss) | 188,295 | |||
Net increase (decrease) in net assets resulting from operations | $ | 192,095 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 3,800 | $ | (4,490) |
Net realized gain (loss) | 287,416 | (154,437) | ||
Change in net unrealized appreciation (depreciation) | (99,121) | (557,710) | ||
Net increase (decrease) in net assets resulting from operations | 192,095 | (716,637) | ||
Distributions to shareholders | - | (458,304) | ||
Share transactions - net increase (decrease) | (4,506) | 513,523 | ||
Total increase (decrease) in net assets | 187,589 | (661,418) | ||
Net Assets | ||||
Beginning of period | 2,970,842 | 3,632,260 | ||
End of period | $ | 3,158,431 | $ | 2,970,842 |
Fidelity® Growth Strategies Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 49.87 | $ | 71.14 | $ | 61.57 | $ | 50.98 | $ | 41.90 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .06 C | (.08) | (.15) | .04 D | .30 | |||||
Net realized and unrealized gain (loss) | 3.27 | (12.20) | 14.72 | 12.31 | 9.13 | |||||
Total from investment operations | 3.33 | (12.28) | 14.57 | 12.35 | 9.43 | |||||
Distributions from net investment income | - | - | - | (.22) | (.28) | |||||
Distributions from net realized gain | - | (8.99) | (5.00) | (1.55) | (.06) | |||||
Total distributions | - | (8.99) | (5.00) | (1.76) E | (.35) E | |||||
Net asset value, end of period | $ | 53.20 | $ | 49.87 | $ | 71.14 | $ | 61.57 | $ | 50.98 |
Total Return F | 6.68% | (19.98)% | 25.31% | 25.02% | 22.76% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .75% | .83% | .63% | .63% | .56% | |||||
Expenses net of fee waivers, if any | .75% | .83% | .63% | .63% | .56% | |||||
Expenses net of all reductions | .75% | .83% | .63% | .63% | .55% | |||||
Net investment income (loss) | .12% C | (.16)% | (.23)% | .07% D | .67% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 2,962 | $ | 2,773 | $ | 3,381 | $ | 3,011 | $ | 2,860 |
Portfolio turnover rate I | 75% J | 74% J | 49% | 67% | 66% J |
Fidelity® Growth Strategies Fund Class K |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 50.50 | $ | 71.85 | $ | 62.08 | $ | 51.38 | $ | 42.23 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .12 C | (.02) | (.08) | .10 D | .36 | |||||
Net realized and unrealized gain (loss) | 3.32 | (12.34) | 14.85 | 12.42 | 9.20 | |||||
Total from investment operations | 3.44 | (12.36) | 14.77 | 12.52 | 9.56 | |||||
Distributions from net investment income | - | - | - | (.27) | (.34) | |||||
Distributions from net realized gain | - | (8.99) | (5.00) | (1.55) | (.06) | |||||
Total distributions | - | (8.99) | (5.00) | (1.82) | (.41) E | |||||
Net asset value, end of period | $ | 53.94 | $ | 50.50 | $ | 71.85 | $ | 62.08 | $ | 51.38 |
Total Return F | 6.81% | (19.89)% | 25.44% | 25.17% | 22.94% | |||||
Ratios to Average Net Assets B,G,H | ||||||||||
Expenses before reductions | .64% | .72% | .52% | .52% | .43% | |||||
Expenses net of fee waivers, if any | .63% | .71% | .52% | .52% | .43% | |||||
Expenses net of all reductions | .63% | .71% | .52% | .51% | .43% | |||||
Net investment income (loss) | .23% C | (.05)% | (.13)% | .19% D | .79% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 196 | $ | 198 | $ | 251 | $ | 236 | $ | 236 |
Portfolio turnover rate I | 75% J | 74% J | 49% | 67% | 66% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 | $1,027,776 |
Gross unrealized depreciation | (24,069) |
Net unrealized appreciation (depreciation) | $1,003,707 |
Tax Cost | $2,189,003 |
Undistributed ordinary income | $161 |
Capital loss carryforward | $(71,751) |
Net unrealized appreciation (depreciation) on securities and other investments | $1,003,707 |
Short-term | $(71,751) |
Total capital loss carryforward | $(71,751) |
November 30, 2023 | November 30, 2022 | |
Long-term Capital Gains | $- | $458,304 |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies Fund | 2,558,301 | 2,224,862 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Strategies Fund | 5,631 | 193,732 | 300,496 | Growth Strategies, Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Strategies Fund | 377 | 15,128 | 25,077 | Growth Strategies, Class K |
Amount | % of Class-Level Average Net Assets | |
Growth Strategies | $4,395 | .16 |
Class K | 81 | .04 |
$4,476 |
% of Class-Level Average Net Assets | |
Growth Strategies | 0.1500% |
% of Average Net Assets | |
Fidelity Growth Strategies Fund | .03 |
% of Average Net Assets | |
Fidelity Growth Strategies Fund | 0.0257% |
Amount | |
Fidelity Growth Strategies Fund | $20 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies Fund | 119,890 | 55,106 | (1,906) |
Amount | |
Fidelity Growth Strategies Fund | $5 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Growth Strategies Fund | $29 | $- | $- |
Year ended November 30, 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 | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Strategies Fund | ||||
Growth Strategies | ||||
Shares sold | 12,499 | 9,491 | $653,529 | $484,754 |
Reinvestment of distributions | - | 6,391 | - | 406,035 |
Shares redeemed | (12,429) | (7,802) | (643,497) | (404,797) |
Net increase (decrease) | 70 | 8,080 | $10,032 | $485,992 |
Class K | ||||
Shares sold | 680 | 808 | $34,879 | $40,950 |
Reinvestment of distributions | - | 487 | - | 31,310 |
Shares redeemed | (956) | (876) | (49,417) | (44,729) |
Net increase (decrease) | (276) | 419 | $(14,538) | $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 (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Growth Strategies Fund | ||||||||||
Fidelity® Growth Strategies Fund | .76% | |||||||||
Actual | $ 1,000 | $ 1,073.20 | $ 3.95 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.26 | $ 3.85 | |||||||
Class K | .66% | |||||||||
Actual | $ 1,000 | $ 1,073.90 | $ 3.43 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.76 | $ 3.35 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Life of Fund A |
Fidelity® Growth Company K6 Fund | 25.77% | 19.22% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Company K6 Fund, on June 13, 2019, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 12.9 | |
Apple, Inc. | 8.7 | |
Microsoft Corp. | 6.1 | |
Amazon.com, Inc. | 5.7 | |
lululemon athletica, Inc. | 4.7 | |
Alphabet, Inc. Class A | 3.7 | |
Salesforce, Inc. | 2.0 | |
Tesla, Inc. | 1.9 | |
Eli Lilly & Co. | 1.9 | |
Oracle Corp. | 1.7 | |
49.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 44.4 | |
Consumer Discretionary | 20.2 | |
Health Care | 13.5 | |
Communication Services | 8.3 | |
Industrials | 4.5 | |
Financials | 3.3 | |
Consumer Staples | 3.1 | |
Energy | 1.5 | |
Materials | 0.7 | |
Real Estate | 0.2 | |
Utilities | 0.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.1% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.2% | |||
Diversified Telecommunication Services - 0.0% | |||
Verizon Communications, Inc. | 7,688 | 294,681 | |
Entertainment - 0.9% | |||
Netflix, Inc. (a) | 276,689 | 131,142,285 | |
Roblox Corp. (a) | 17,717 | 696,455 | |
Roku, Inc. Class A (a) | 155,714 | 16,225,399 | |
The Walt Disney Co. | 61,128 | 5,665,954 | |
153,730,093 | |||
Interactive Media & Services - 6.9% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,421,057 | 585,922,684 | |
Class C (a) | 1,693,320 | 226,769,414 | |
Epic Games, Inc. (a)(b)(c) | 5,000 | 2,954,800 | |
Meta Platforms, Inc. Class A (a) | 799,896 | 261,685,976 | |
Snap, Inc. Class A (a) | 2,187,041 | 30,246,777 | |
1,107,579,651 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 24,683 | 1,033,971 | |
The Trade Desk, Inc. (a) | 25,454 | 1,793,489 | |
2,827,460 | |||
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. | 456,869 | 68,735,941 | |
TOTAL COMMUNICATION SERVICES | 1,333,167,826 | ||
CONSUMER DISCRETIONARY - 20.1% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (a)(d) | 101,106 | 4,150,401 | |
Automobiles - 2.2% | |||
Rad Power Bikes, Inc. (b)(c) | 171,416 | 71,995 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 280,502 | 642,350 | |
Rivian Automotive, Inc. (a)(d) | 2,735,849 | 45,852,829 | |
Tesla, Inc. (a) | 1,276,144 | 306,376,652 | |
352,943,826 | |||
Broadline Retail - 6.2% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 69,332 | 5,191,580 | |
Amazon.com, Inc. (a) | 6,285,341 | 918,225,467 | |
Etsy, Inc. (a) | 33,979 | 2,575,948 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 891,587 | 65,326,579 | |
Ozon Holdings PLC ADR (a)(c)(d) | 6,684 | 88,229 | |
PDD Holdings, Inc. ADR (a) | 49,084 | 7,236,945 | |
998,644,748 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 15,373 | 3,263,534 | |
Hotels, Restaurants & Leisure - 1.4% | |||
Airbnb, Inc. Class A (a) | 87,181 | 11,014,448 | |
Booking Holdings, Inc. (a) | 26,780 | 83,706,246 | |
Chipotle Mexican Grill, Inc. (a) | 16,198 | 35,672,046 | |
Dutch Bros, Inc. (a)(d) | 256,036 | 6,843,842 | |
Expedia, Inc. (a) | 80,634 | 10,980,738 | |
Marriott International, Inc. Class A | 130,497 | 26,451,742 | |
McDonald's Corp. | 937 | 264,084 | |
Penn Entertainment, Inc. (a) | 733,395 | 18,012,181 | |
Shake Shack, Inc. Class A (a) | 21,483 | 1,301,010 | |
Sonder Holdings, Inc.: | |||
Stage 1 rights (a)(c) | 5,104 | 153 | |
Stage 2 rights (a)(c) | 5,104 | 102 | |
Stage 3 rights (a)(c) | 5,104 | 51 | |
Stage 4 rights (a)(c) | 5,104 | 51 | |
Stage 5: | |||
rights (a)(c) | 5,103 | 51 | |
rights (a)(c) | 5,102 | 51 | |
Starbucks Corp. | 145,715 | 14,469,500 | |
Sweetgreen, Inc. Class A (a) | 332,041 | 3,124,506 | |
Trip.com Group Ltd. ADR (a) | 173,245 | 6,094,759 | |
Zomato Ltd. (a) | 1,275,000 | 1,812,735 | |
219,748,296 | |||
Household Durables - 0.3% | |||
Lennar Corp. Class A | 362,444 | 46,363,836 | |
PulteGroup, Inc. | 184 | 16,269 | |
Purple Innovation, Inc. (d) | 1,197,600 | 742,991 | |
SharkNinja Hong Kong Co. Ltd. | 75,070 | 3,528,290 | |
Toll Brothers, Inc. | 56,776 | 4,876,491 | |
55,527,877 | |||
Specialty Retail - 2.7% | |||
Abercrombie & Fitch Co. Class A (a) | 55,683 | 4,225,783 | |
Dick's Sporting Goods, Inc. | 53,109 | 6,909,481 | |
Fanatics, Inc. Class A (a)(b)(c) | 204,775 | 14,856,426 | |
Five Below, Inc. (a) | 49,539 | 9,336,120 | |
Floor & Decor Holdings, Inc. Class A (a)(d) | 98,381 | 9,022,522 | |
Foot Locker, Inc. | 85,582 | 2,304,723 | |
Lowe's Companies, Inc. | 326,437 | 64,905,469 | |
Revolve Group, Inc. (a)(d) | 669,323 | 8,915,382 | |
RH (a) | 18,118 | 4,891,316 | |
Ross Stores, Inc. | 126,047 | 16,434,008 | |
RumbleON, Inc.: | |||
Class B (a)(d) | 207,898 | 1,216,203 | |
rights (a) | 230,458 | 86,986 | |
The Home Depot, Inc. | 356,703 | 111,822,823 | |
TJX Companies, Inc. | 1,247,803 | 109,943,922 | |
Wayfair LLC Class A (a)(d) | 1,357,191 | 75,731,258 | |
440,602,422 | |||
Textiles, Apparel & Luxury Goods - 7.3% | |||
Birkenstock Holding PLC (d) | 84,000 | 3,876,600 | |
Canada Goose Holdings, Inc. (a)(d) | 522,382 | 5,793,765 | |
Crocs, Inc. (a) | 83,767 | 8,846,633 | |
Deckers Outdoor Corp. (a) | 237,049 | 157,393,425 | |
Figs, Inc. Class A (a)(d) | 131,441 | 954,262 | |
Li Ning Co. Ltd. | 530,929 | 1,478,333 | |
lululemon athletica, Inc. (a) | 1,702,699 | 760,765,913 | |
NIKE, Inc. Class B | 352,709 | 38,893,221 | |
On Holding AG (a)(d) | 1,724,519 | 50,028,296 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 2,411,549 | 142,064,352 | |
1,170,094,800 | |||
TOTAL CONSUMER DISCRETIONARY | 3,244,975,904 | ||
CONSUMER STAPLES - 3.1% | |||
Beverages - 1.4% | |||
Celsius Holdings, Inc. (a) | 551,900 | 27,324,569 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 12,075 | 2,903,917 | |
Keurig Dr. Pepper, Inc. | 704,365 | 22,236,803 | |
Monster Beverage Corp. | 1,011,055 | 55,759,683 | |
PepsiCo, Inc. | 236,565 | 39,811,524 | |
The Coca-Cola Co. | 1,272,292 | 74,352,744 | |
222,389,240 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Costco Wholesale Corp. | 122,726 | 72,744,609 | |
Dollar General Corp. | 39,273 | 5,149,476 | |
Dollar Tree, Inc. (a) | 35,150 | 4,344,189 | |
Kroger Co. | 234,556 | 10,383,794 | |
Maplebear, Inc. (d) | 8,341 | 201,769 | |
Maplebear, Inc. (unlisted) | 18,467 | 402,045 | |
Target Corp. | 137,702 | 18,425,905 | |
Walmart, Inc. | 130,501 | 20,317,701 | |
131,969,488 | |||
Food Products - 0.3% | |||
Bowery Farming, Inc. warrants (a)(b)(c) | 14,709 | 60,748 | |
Bunge Global SA | 188,714 | 20,734,007 | |
Kellanova | 40,711 | 2,138,956 | |
Mondelez International, Inc. | 111,043 | 7,890,716 | |
The Hershey Co. | 77,530 | 14,569,438 | |
The Real Good Food Co. LLC: | |||
Class B (a)(c) | 149,688 | 2 | |
Class B unit (a)(e) | 149,688 | 284,407 | |
The Real Good Food Co., Inc. (a) | 218,564 | 415,272 | |
WK Kellogg Co. | 10,202 | 114,262 | |
46,207,808 | |||
Household Products - 0.2% | |||
Church & Dwight Co., Inc. | 66,534 | 6,429,180 | |
Colgate-Palmolive Co. | 29,607 | 2,332,143 | |
Procter & Gamble Co. | 170,509 | 26,176,542 | |
The Clorox Co. | 25,725 | 3,687,679 | |
38,625,544 | |||
Personal Care Products - 0.1% | |||
elf Beauty, Inc. (a) | 51,850 | 6,122,967 | |
Kenvue, Inc. | 139,135 | 2,843,919 | |
Oddity Tech Ltd. (d) | 53,883 | 1,836,333 | |
Oddity Tech Ltd. Class A | 57,026 | 1,846,274 | |
Olaplex Holdings, Inc. (a) | 193,605 | 422,059 | |
The Beauty Health Co. (a)(d) | 798,598 | 2,044,411 | |
The Beauty Health Co. (a)(b) | 428,643 | 1,097,326 | |
16,213,289 | |||
Tobacco - 0.3% | |||
Philip Morris International, Inc. | 574,361 | 53,622,343 | |
TOTAL CONSUMER STAPLES | 509,027,712 | ||
ENERGY - 1.5% | |||
Energy Equipment & Services - 0.3% | |||
Baker Hughes Co. Class A | 243,324 | 8,212,185 | |
Halliburton Co. | 866,917 | 32,101,937 | |
40,314,122 | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Cameco Corp. | 649,363 | 29,818,749 | |
EOG Resources, Inc. | 9,911 | 1,219,747 | |
EQT Corp. (d) | 146,038 | 5,835,678 | |
Hess Corp. | 715,226 | 100,532,167 | |
Pioneer Natural Resources Co. | 18 | 4,170 | |
Range Resources Corp. | 1,289,790 | 41,918,175 | |
Reliance Industries Ltd. | 506,346 | 14,437,143 | |
Valero Energy Corp. | 63,614 | 7,974,651 | |
201,740,480 | |||
TOTAL ENERGY | 242,054,602 | ||
FINANCIALS - 3.2% | |||
Banks - 0.5% | |||
Bank of America Corp. | 769,901 | 23,474,281 | |
HDFC Bank Ltd. sponsored ADR | 441,950 | 26,534,678 | |
JPMorgan Chase & Co. | 124,388 | 19,414,479 | |
Wells Fargo & Co. | 114,736 | 5,116,078 | |
74,539,516 | |||
Capital Markets - 0.2% | |||
3i Group PLC | 93,758 | 2,641,902 | |
BlackRock, Inc. Class A | 45,991 | 34,549,819 | |
Coinbase Global, Inc. (a) | 5,900 | 735,848 | |
37,927,569 | |||
Financial Services - 2.5% | |||
Block, Inc. Class A (a) | 38,419 | 2,436,917 | |
Jio Financial Services Ltd. | 672,846 | 1,851,107 | |
MasterCard, Inc. Class A | 403,097 | 166,813,632 | |
PayPal Holdings, Inc. (a) | 192,320 | 11,079,555 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | 23,230 | 56,449 | |
Toast, Inc. (a)(d) | 1,469,000 | 21,844,030 | |
Visa, Inc. Class A | 775,259 | 198,993,480 | |
403,075,170 | |||
TOTAL FINANCIALS | 515,542,255 | ||
HEALTH CARE - 13.0% | |||
Biotechnology - 7.1% | |||
4D Pharma PLC (a)(c)(d) | 1,160,502 | 244,082 | |
AbbVie, Inc. | 144,874 | 20,628,609 | |
Absci Corp. (a) | 1,570,709 | 2,623,084 | |
ACADIA Pharmaceuticals, Inc. (a) | 643,833 | 14,344,599 | |
Acelyrin, Inc. | 195,015 | 1,310,501 | |
Akouos, Inc. (CVR) (c) | 338,256 | 280,752 | |
Alector, Inc. (a) | 1,168,825 | 6,335,032 | |
Allogene Therapeutics, Inc. (a) | 1,387,173 | 3,259,857 | |
Allovir, Inc. (a)(d) | 994,196 | 1,869,088 | |
Alnylam Pharmaceuticals, Inc. (a) | 522,271 | 87,872,096 | |
Ambrx Biopharma, Inc. | 174 | 2,008 | |
Amgen, Inc. | 117,294 | 31,627,154 | |
Apellis Pharmaceuticals, Inc. (a)(d) | 101,511 | 5,468,398 | |
Apogee Therapeutics, Inc. | 125,804 | 2,454,436 | |
Apogee Therapeutics, Inc. (unlisted) | 204,567 | 3,791,547 | |
Argenx SE ADR (a) | 207,258 | 93,392,527 | |
Arrowhead Pharmaceuticals, Inc. (a) | 78,361 | 1,661,253 | |
Ascendis Pharma A/S sponsored ADR (a) | 18,738 | 1,881,857 | |
aTyr Pharma, Inc. (a) | 871,099 | 1,132,429 | |
Avidity Biosciences, Inc. (a) | 843,971 | 6,591,414 | |
Beam Therapeutics, Inc. (a)(d) | 313,635 | 8,806,871 | |
BeiGene Ltd. ADR (a)(d) | 166,803 | 31,182,153 | |
Biomea Fusion, Inc. (a)(d) | 666,585 | 10,045,436 | |
BioNTech SE ADR (a) | 25,844 | 2,594,996 | |
BioXcel Therapeutics, Inc. (a)(d) | 335,768 | 1,275,918 | |
Cargo Therapeutics, Inc. | 149,650 | 2,237,268 | |
Caris Life Sciences, Inc. (a)(b)(c) | 362,791 | 1,193,582 | |
Century Therapeutics, Inc. (a) | 599,390 | 821,164 | |
Cerevel Therapeutics Holdings (a) | 1,982,106 | 51,396,009 | |
Cibus, Inc. (a) | 232,349 | 2,920,627 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a)(c) | 95,000 | 1 | |
CRISPR Therapeutics AG (a)(d) | 232,777 | 15,533,209 | |
Cyclerion Therapeutics, Inc. (a) | 10,106 | 21,829 | |
Day One Biopharmaceuticals, Inc. (a)(d) | 312,407 | 3,617,673 | |
Denali Therapeutics, Inc. (a) | 75,197 | 1,392,648 | |
Dianthus Therapeutics, Inc. (a) | 71,419 | 798,464 | |
Dianthus Therapeutics, Inc. (unlisted) (b) | 75,827 | 805,359 | |
Disc Medicine, Inc. rights (a)(c) | 50,893 | 1 | |
Foghorn Therapeutics, Inc. (a) | 306,913 | 1,304,380 | |
Generation Bio Co. (a) | 531,333 | 600,406 | |
Geron Corp. (a) | 637,376 | 1,230,136 | |
Icosavax, Inc. (a) | 7,439 | 75,283 | |
Idorsia Ltd. (a)(d) | 206,669 | 452,184 | |
Immunocore Holdings PLC ADR (a) | 46,532 | 2,453,632 | |
ImmunoGen, Inc. (a) | 532,592 | 15,631,575 | |
Immunovant, Inc. (a) | 859,561 | 33,634,622 | |
Inhibrx, Inc. (a)(d) | 160,836 | 3,340,564 | |
Invivyd, Inc. (a)(d) | 664,207 | 1,016,237 | |
Ionis Pharmaceuticals, Inc. (a)(d) | 2,558,561 | 126,572,013 | |
Janux Therapeutics, Inc. (a) | 242,296 | 2,115,244 | |
Karuna Therapeutics, Inc. (a) | 465,789 | 89,063,515 | |
Kineta, Inc. | 8,108 | 32,189 | |
Korro Bio, Inc. (b) | 21,489 | 855,574 | |
Korro Bio, Inc. | 36,539 | 1,378,215 | |
Legend Biotech Corp. ADR (a) | 693,593 | 42,184,326 | |
Lexicon Pharmaceuticals, Inc. (a)(d) | 549,828 | 582,818 | |
Lyell Immunopharma, Inc. (a)(d) | 344,700 | 596,331 | |
Madrigal Pharmaceuticals, Inc. (a)(d) | 9,409 | 1,912,850 | |
Moderna, Inc. (a) | 306,349 | 23,803,317 | |
Monte Rosa Therapeutics, Inc. (a) | 296,959 | 920,573 | |
Moonlake Immunotherapeutics (a)(d) | 86,586 | 3,801,991 | |
Morphic Holding, Inc. (a) | 411,665 | 9,756,461 | |
Morphimmune, Inc. (b) | 421,769 | 3,146,397 | |
Nuvalent, Inc. Class A (a) | 617,408 | 40,359,961 | |
Omega Therapeutics, Inc. (a) | 691,207 | 1,582,864 | |
ORIC Pharmaceuticals, Inc. (a)(d) | 291,393 | 2,302,005 | |
Poseida Therapeutics, Inc. (a) | 1,077,855 | 2,877,873 | |
Prothena Corp. PLC (a)(d) | 861,531 | 28,068,680 | |
PTC Therapeutics, Inc. (a) | 114,171 | 2,628,216 | |
RAPT Therapeutics, Inc. (a) | 353,833 | 5,137,655 | |
RayzeBio, Inc. (d) | 80,467 | 1,921,552 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 673,376 | 4,612,626 | |
Regeneron Pharmaceuticals, Inc. (a) | 87,071 | 71,729,961 | |
Relay Therapeutics, Inc. (a)(d) | 269,899 | 2,134,901 | |
Revolution Medicines, Inc. (a) | 338,716 | 7,902,244 | |
Roivant Sciences Ltd. (a)(d) | 3,630,738 | 34,709,855 | |
Sage Therapeutics, Inc. (a) | 632,074 | 12,376,009 | |
Sagimet Biosciences, Inc. | 221,744 | 847,062 | |
Sana Biotechnology, Inc. (a)(d) | 923,021 | 3,747,465 | |
Scholar Rock Holding Corp. (a) | 715,968 | 9,014,037 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 39,325 | 258,018 | |
Seres Therapeutics, Inc. (a)(d) | 2,282,841 | 2,374,155 | |
Shattuck Labs, Inc. (a) | 617,994 | 1,211,268 | |
Sigilon Therapeutics, Inc. rights (a)(c) | 8,716 | 65,980 | |
SpringWorks Therapeutics, Inc. (a)(d) | 1,076,884 | 32,726,505 | |
Spyre Therapeutics, Inc. (b) | 216,000 | 4,030,560 | |
Synlogic, Inc. (a) | 26,371 | 65,928 | |
Tango Therapeutics, Inc. (b) | 166,072 | 1,262,147 | |
Tango Therapeutics, Inc. (a) | 418,590 | 3,181,284 | |
Taysha Gene Therapies, Inc. (a) | 1,546,225 | 2,721,356 | |
Turnstone Biologics Corp. | 91,997 | 200,553 | |
Tyra Biosciences, Inc. (a) | 13,810 | 161,715 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 760,318 | 9,547 | |
Vaxcyte, Inc. (a) | 354,278 | 18,340,972 | |
Vera Therapeutics, Inc. (a) | 242,639 | 3,287,758 | |
Vertex Pharmaceuticals, Inc. (a) | 80,868 | 28,692,775 | |
Verve Therapeutics, Inc. (a)(d) | 145,368 | 1,639,751 | |
Viking Therapeutics, Inc. (a)(d) | 1,268,608 | 15,502,390 | |
Vor Biopharma, Inc. (a) | 544,468 | 1,007,266 | |
WuXi XDC Cayman, Inc. | 148,844 | 544,972 | |
Zai Lab Ltd. ADR (a)(d) | 130,670 | 3,565,984 | |
Zentalis Pharmaceuticals, Inc. (a) | 300,273 | 3,378,071 | |
1,144,056,685 | |||
Health Care Equipment & Supplies - 1.2% | |||
Abbott Laboratories | 28,436 | 2,965,590 | |
Axonics Modulation Technologies, Inc. (a) | 115,130 | 6,446,129 | |
Blink Health LLC Series A1 (a)(b)(c) | 65,933 | 3,094,236 | |
Boston Scientific Corp. (a) | 43,180 | 2,413,330 | |
DexCom, Inc. (a) | 79,755 | 9,213,298 | |
Inspire Medical Systems, Inc. (a) | 19,451 | 2,826,425 | |
Insulet Corp. (a) | 150,964 | 28,545,783 | |
Intuitive Surgical, Inc. (a) | 206,712 | 64,254,358 | |
Novocure Ltd. (a)(d) | 1,861,489 | 22,840,470 | |
Outset Medical, Inc. (a) | 456,607 | 2,392,621 | |
Penumbra, Inc. (a) | 7,497 | 1,665,009 | |
Presbia PLC (a)(c) | 96,997 | 1 | |
PROCEPT BioRobotics Corp. (a) | 510,619 | 18,928,646 | |
Shockwave Medical, Inc. (a)(d) | 125,535 | 21,912,134 | |
187,498,030 | |||
Health Care Providers & Services - 1.1% | |||
Alignment Healthcare, Inc. (a) | 467,837 | 3,508,778 | |
Guardant Health, Inc. (a) | 153,718 | 3,869,082 | |
Humana, Inc. | 35,028 | 16,983,676 | |
McKesson Corp. | 33,662 | 15,839,991 | |
The Oncology Institute, Inc. (a)(b) | 446,788 | 764,007 | |
UnitedHealth Group, Inc. | 262,326 | 145,058,408 | |
186,023,942 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(b)(c) | 115 | 30,620 | |
DNA Script (a)(b)(c) | 439 | 116,921 | |
147,541 | |||
Life Sciences Tools & Services - 0.5% | |||
10X Genomics, Inc. (a) | 639,877 | 27,847,447 | |
Danaher Corp. | 36,068 | 8,054,345 | |
Gerresheimer AG | 22,574 | 2,134,061 | |
Seer, Inc. (a) | 168,700 | 271,607 | |
Thermo Fisher Scientific, Inc. | 44,999 | 22,308,704 | |
WuXi AppTec Co. Ltd. (H Shares) (d)(e) | 358,751 | 4,202,337 | |
Wuxi Biologics (Cayman), Inc. (a)(e) | 2,424,576 | 13,502,113 | |
78,320,614 | |||
Pharmaceuticals - 3.1% | |||
Adimab LLC (a)(b)(c)(f) | 196,899 | 4,701,948 | |
Agomab Therapeutics SA warrants 10/10/33 (a)(c) | 10 | 0 | |
Arvinas Holding Co. LLC (a) | 61,717 | 1,355,922 | |
Atea Pharmaceuticals, Inc. (a) | 790,292 | 2,362,973 | |
Bristol-Myers Squibb Co. | 137,305 | 6,780,121 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 31,376 | 576,377 | |
Eli Lilly & Co. | 513,067 | 303,243,120 | |
Fulcrum Therapeutics, Inc. (a) | 471,793 | 2,264,606 | |
GH Research PLC (a) | 373,188 | 2,328,693 | |
Harmony Biosciences Holdings, Inc. (a) | 587,443 | 17,071,094 | |
Intra-Cellular Therapies, Inc. (a) | 1,046,305 | 64,211,738 | |
Merck & Co., Inc. | 60,068 | 6,155,769 | |
Novo Nordisk A/S Series B sponsored ADR | 470,792 | 47,945,457 | |
Nuvation Bio, Inc. (a) | 2,304,187 | 2,857,192 | |
OptiNose, Inc. (a) | 1,755,860 | 2,194,825 | |
OptiNose, Inc. warrants (a) | 246,620 | 68,574 | |
Pfizer, Inc. | 28,517 | 868,913 | |
Pharvaris BV (a) | 37,117 | 638,784 | |
Pliant Therapeutics, Inc. (a)(d) | 506,718 | 7,038,313 | |
Sienna Biopharmaceuticals, Inc. (a) | 429,317 | 0 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 127,580 | 1,152,047 | |
Structure Therapeutics, Inc. (b) | 94,761 | 1,759,080 | |
UCB SA | 285,374 | 21,073,112 | |
496,648,658 | |||
TOTAL HEALTH CARE | 2,092,695,470 | ||
INDUSTRIALS - 4.1% | |||
Aerospace & Defense - 0.5% | |||
AeroVironment, Inc. (a) | 63,027 | 8,673,145 | |
Lockheed Martin Corp. | 45,265 | 20,268,309 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 324,714 | 26,301,834 | |
The Boeing Co. (a) | 124,234 | 28,776,321 | |
84,019,609 | |||
Air Freight & Logistics - 0.0% | |||
Delhivery Private Ltd. (a) | 486,000 | 2,279,828 | |
United Parcel Service, Inc. Class B | 24,169 | 3,664,262 | |
5,944,090 | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 11,990 | 926,228 | |
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 494,484 | 18,805,227 | |
Quanta Services, Inc. | 55,260 | 10,406,011 | |
29,211,238 | |||
Electrical Equipment - 0.7% | |||
Eaton Corp. PLC | 252,780 | 57,555,478 | |
Emerson Electric Co. | 224,064 | 19,919,290 | |
Fluence Energy, Inc. (a) | 9,679 | 242,749 | |
Generac Holdings, Inc. (a) | 135,190 | 15,826,693 | |
Nextracker, Inc. Class A (d) | 53,884 | 2,189,846 | |
NuScale Power Corp. (a)(d) | 295,177 | 817,640 | |
Schneider Electric SA | 76,600 | 14,098,438 | |
110,650,134 | |||
Ground Transportation - 1.6% | |||
Avis Budget Group, Inc. (a) | 458,211 | 83,783,881 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 1,095 | 11 | |
Stage 2 rights (a)(c) | 1,095 | 0 | |
Stage 3 rights (a)(c) | 1,095 | 0 | |
Hertz Global Holdings, Inc. (a)(d) | 80,305 | 669,744 | |
Lyft, Inc. (a) | 1,107,395 | 12,989,743 | |
Uber Technologies, Inc. (a) | 2,091,943 | 117,943,746 | |
Union Pacific Corp. | 159,962 | 36,034,640 | |
251,421,765 | |||
Industrial Conglomerates - 0.1% | |||
General Electric Co. | 56,968 | 6,938,702 | |
Honeywell International, Inc. | 47,503 | 9,306,788 | |
16,245,490 | |||
Machinery - 0.6% | |||
Caterpillar, Inc. | 137,877 | 34,568,521 | |
Deere & Co. | 95,279 | 34,720,620 | |
Illinois Tool Works, Inc. | 61,402 | 14,872,178 | |
Ingersoll Rand, Inc. | 86,380 | 6,170,123 | |
90,331,442 | |||
Passenger Airlines - 0.4% | |||
Delta Air Lines, Inc. | 447,851 | 16,539,137 | |
Ryanair Holdings PLC sponsored ADR (a) | 7,772 | 918,806 | |
Southwest Airlines Co. | 515,592 | 13,183,687 | |
United Airlines Holdings, Inc. (a) | 448,983 | 17,689,930 | |
Wizz Air Holdings PLC (a)(e) | 497,884 | 11,835,665 | |
60,167,225 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 265,019 | 3,055,669 | |
Paylocity Holding Corp. (a) | 27,881 | 4,368,116 | |
7,423,785 | |||
TOTAL INDUSTRIALS | 656,341,006 | ||
INFORMATION TECHNOLOGY - 44.1% | |||
Communications Equipment - 0.6% | |||
Arista Networks, Inc. (a) | 157,425 | 34,587,847 | |
Ciena Corp. (a) | 1,020,829 | 46,805,010 | |
Infinera Corp. (a)(d) | 4,402,052 | 17,123,982 | |
98,516,839 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a) | 76,391 | 2,810,425 | |
TE Connectivity Ltd. | 3,866 | 506,446 | |
3,316,871 | |||
IT Services - 1.6% | |||
Accenture PLC Class A | 134,901 | 44,940,919 | |
Cloudflare, Inc. (a)(d) | 1,188,298 | 91,677,191 | |
IBM Corp. | 148,481 | 23,543,147 | |
MongoDB, Inc. Class A (a) | 25,665 | 10,669,967 | |
Okta, Inc. (a) | 154,649 | 10,369,215 | |
Shopify, Inc. Class A (a) | 720,938 | 52,518,310 | |
Snowflake, Inc. (a) | 92,448 | 17,350,641 | |
Twilio, Inc. Class A (a) | 13,607 | 880,101 | |
X Holdings Corp. (b)(c) | 26,890 | 765,827 | |
252,715,318 | |||
Semiconductors & Semiconductor Equipment - 17.2% | |||
Advanced Micro Devices, Inc. (a) | 842,676 | 102,098,624 | |
Allegro MicroSystems LLC (a) | 31,592 | 859,934 | |
Applied Materials, Inc. | 461,485 | 69,121,223 | |
Arm Holdings Ltd. ADR (d) | 101,467 | 6,240,221 | |
ASML Holding NV (depository receipt) | 30,940 | 21,155,534 | |
Broadcom, Inc. | 46,664 | 43,198,265 | |
Cirrus Logic, Inc. (a) | 421,210 | 31,974,051 | |
Enphase Energy, Inc. (a) | 47,160 | 4,764,103 | |
First Solar, Inc. (a) | 249,338 | 39,340,550 | |
GaN Systems, Inc. (c) | 270,586 | 27,241 | |
GaN Systems, Inc. (c) | 270,586 | 3 | |
GlobalFoundries, Inc. (a) | 126,087 | 6,769,611 | |
Impinj, Inc. (a) | 196,065 | 16,389,073 | |
Intel Corp. | 9,394 | 419,912 | |
KLA Corp. | 67,403 | 36,709,022 | |
Lam Research Corp. | 24,435 | 17,493,505 | |
Lattice Semiconductor Corp. (a) | 81,117 | 4,749,400 | |
Marvell Technology, Inc. | 1,188,827 | 66,253,329 | |
Micron Technology, Inc. | 204,947 | 15,600,566 | |
Monolithic Power Systems, Inc. | 41,283 | 22,652,808 | |
NVIDIA Corp. | 4,450,458 | 2,081,479,201 | |
ON Semiconductor Corp. (a) | 252,167 | 17,987,072 | |
Qualcomm, Inc. | 175,276 | 22,619,368 | |
Silicon Laboratories, Inc. (a) | 610,589 | 64,337,763 | |
SiTime Corp. (a) | 208,145 | 23,020,837 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 162,027 | 15,766,847 | |
Teradyne, Inc. | 88,349 | 8,148,428 | |
Texas Instruments, Inc. | 163,240 | 24,928,380 | |
Wolfspeed, Inc. (a)(d) | 137,658 | 5,074,074 | |
2,769,178,945 | |||
Software - 14.9% | |||
Adobe, Inc. (a) | 227,196 | 138,819,028 | |
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | 351,555 | 790,999 | |
Atlassian Corp. PLC (a) | 11,911 | 2,274,405 | |
Autodesk, Inc. (a) | 125,116 | 27,329,088 | |
Bill Holdings, Inc. (a) | 35,045 | 2,294,396 | |
Clear Secure, Inc. | 650 | 13,865 | |
Confluent, Inc. (a) | 233,822 | 4,961,703 | |
CoreWeave, Inc. (b)(c) | 41,224 | 12,773,669 | |
Crowdstrike Holdings, Inc. (a) | 139,318 | 33,016,973 | |
Datadog, Inc. Class A (a) | 135,026 | 15,739,981 | |
Elastic NV (a) | 55,816 | 4,485,374 | |
Freshworks, Inc. (a) | 308,490 | 6,175,970 | |
HubSpot, Inc. (a) | 65,705 | 32,453,671 | |
Intuit, Inc. | 95,141 | 54,369,276 | |
Microsoft Corp. | 2,586,006 | 979,863,533 | |
Nutanix, Inc. Class A (a) | 4,466,430 | 192,458,469 | |
Oracle Corp. | 2,366,676 | 275,031,418 | |
Palantir Technologies, Inc. (a) | 233,967 | 4,691,038 | |
Palo Alto Networks, Inc. (a) | 101,836 | 30,050,785 | |
PTC, Inc. (a) | 5,397 | 849,272 | |
RingCentral, Inc. (a) | 43,350 | 1,233,741 | |
Salesforce, Inc. (a) | 1,276,381 | 321,520,374 | |
Samsara, Inc. (a) | 136,357 | 3,755,272 | |
SentinelOne, Inc. (a)(d) | 84,504 | 1,613,181 | |
ServiceNow, Inc. (a) | 254,100 | 174,246,534 | |
Stripe, Inc. Class B (a)(b)(c) | 38,500 | 847,385 | |
UiPath, Inc. Class A (a)(d) | 1,636,493 | 32,337,102 | |
Workday, Inc. Class A (a) | 67,908 | 18,384,054 | |
Zoom Video Communications, Inc. Class A (a) | 253,374 | 17,186,358 | |
Zscaler, Inc. (a) | 88,554 | 17,492,072 | |
2,407,058,986 | |||
Technology Hardware, Storage & Peripherals - 9.8% | |||
Apple, Inc. | 7,430,839 | 1,411,487,868 | |
Pure Storage, Inc. Class A (a) | 5,147,913 | 171,476,982 | |
Samsung Electronics Co. Ltd. | 89,935 | 5,036,941 | |
1,588,001,791 | |||
TOTAL INFORMATION TECHNOLOGY | 7,118,788,750 | ||
MATERIALS - 0.6% | |||
Chemicals - 0.2% | |||
Albemarle Corp. (d) | 51,330 | 6,224,789 | |
CF Industries Holdings, Inc. | 68,247 | 5,128,762 | |
Corteva, Inc. | 359,665 | 16,256,858 | |
Farmers Business Network, Inc. (a)(c) | 9,829 | 24,769 | |
Farmers Business Network, Inc. warrants 9/27/33 (a)(b)(c) | 993,920 | 2,494,739 | |
The Mosaic Co. | 341,489 | 12,256,040 | |
42,385,957 | |||
Metals & Mining - 0.4% | |||
Barrick Gold Corp. (Canada) (d) | 397,961 | 6,991,702 | |
Freeport-McMoRan, Inc. | 1,422,502 | 53,087,775 | |
60,079,477 | |||
TOTAL MATERIALS | 102,465,434 | ||
REAL ESTATE - 0.2% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
American Tower Corp. | 95,545 | 19,947,885 | |
Equinix, Inc. | 8,167 | 6,656,187 | |
26,604,072 | |||
TOTAL COMMON STOCKS (Cost $11,059,853,639) | 15,841,663,031 | ||
Preferred Stocks - 1.6% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.6% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 49,039 | 12,465,714 | |
Reddit, Inc.: | |||
Series E(a)(b)(c) | 4,501 | 141,376 | |
Series F(a)(b)(c) | 88,486 | 2,779,345 | |
15,386,435 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 22,348 | 9,386 | |
Series C(a)(b)(c) | 87,936 | 63,314 | |
Series D(a)(b)(c) | 219,600 | 228,384 | |
301,084 | |||
Broadline Retail - 0.0% | |||
Meesho Series F (a)(b)(c) | 66,982 | 4,344,453 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 1,400 | 361,270 | |
Textiles, Apparel & Luxury Goods - 0.1% | |||
Canva, Inc.: | |||
Series A(b)(c) | 1,477 | 1,651,183 | |
Series A2(b)(c) | 268 | 299,605 | |
Freenome, Inc.: | |||
Series C(a)(b)(c) | 141,369 | 968,378 | |
Series D(a)(b)(c) | 125,665 | 908,558 | |
Laronde, Inc. Series B (a)(b)(c) | 81,282 | 2,275,896 | |
6,103,620 | |||
TOTAL CONSUMER DISCRETIONARY | 11,110,427 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 19,907 | 1,035,164 | |
Series H(a)(b)(c) | 20,720 | 1,351,980 | |
2,387,144 | |||
Food Products - 0.0% | |||
AgBiome LLC Series D (a)(b)(c) | 511,821 | 76,773 | |
Bowery Farming, Inc.: | |||
Series C1(a)(b)(c) | 27,155 | 215,882 | |
Series D1(b)(c) | 14,709 | 78,252 | |
370,907 | |||
TOTAL CONSUMER STAPLES | 2,758,051 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Kartos Therapeutics, Inc. Series C (b)(c) | 472,772 | 2,491,508 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series C(a)(b)(c) | 109,967 | 1,186,544 | |
Series D1(a)(b)(c) | 190,900 | 2,067,447 | |
Series D2(a)(b)(c) | 15,557 | 159,304 | |
Saluda Medical, Inc.: | |||
Series D(b)(c) | 154,870 | 1,739,190 | |
Series E(b)(c) | 287,593 | 2,237,474 | |
Tenstorrent Holdings, Inc. Series C1 (b)(c) | 32,710 | 1,831,760 | |
11,713,227 | |||
HEALTH CARE - 0.5% | |||
Biotechnology - 0.4% | |||
Altos Labs, Inc. Series B (a)(b)(c) | 124,464 | 2,144,515 | |
Ankyra Therapeutics Series B (a)(b)(c) | 329,325 | 1,304,127 | |
Asimov, Inc. Series B (a)(b)(c) | 19,920 | 835,445 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 282,257 | 462,901 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 258,638 | 850,919 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(b)(c) | 4,476 | 834,684 | |
Series D2(a)(b)(c) | 1,254 | 205,317 | |
Cleerly, Inc. Series C (a)(b)(c) | 294,888 | 3,172,995 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 155,443 | 1,448,729 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 125,057 | 1,749,547 | |
Series C(a)(b)(c) | 114,255 | 1,598,427 | |
ElevateBio LLC Series C (a)(b)(c) | 247,600 | 745,276 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 272,597 | 2,657,821 | |
Generate Biomedicines: | |||
Series B(a)(b)(c) | 191,856 | 1,931,990 | |
Series C(b)(c) | 105,751 | 1,064,913 | |
Genesis Therapeutics, Inc. Series B (b)(c) | 583,881 | 2,709,208 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 277,957 | 714,349 | |
Series E(a)(b)(c) | 215,182 | 707,949 | |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | 1,759,782 | 2,850,847 | |
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(a)(b)(c) | 458,024 | 2,583,255 | |
Series C(b)(c) | 442,442 | 2,216,634 | |
Quell Therapeutics Ltd. Series B (a)(b)(c) | 822,639 | 1,357,354 | |
Rapport Therapeutics, Inc. Series B (b)(c) | 1,743,823 | 2,790,117 | |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | 14,028 | 820,778 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 587,934 | 1,487,473 | |
Series B1(a)(b)(c) | 313,559 | 906,186 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 241,456 | 820,950 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 283,817 | 1,989,557 | |
Series A1(a)(b)(c) | 151,334 | 1,091,118 | |
59,664,817 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 145,007 | 6,805,179 | |
Kardium, Inc. Series D6 (a)(b)(c) | 1,087,032 | 1,010,940 | |
7,816,119 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(b)(c) | 756,226 | 627,668 | |
Series C(b)(c) | 1,833,120 | 1,154,866 | |
Conformal Medical, Inc.: | |||
Series C(a)(b)(c) | 140,186 | 559,342 | |
Series D(b)(c) | 153,658 | 714,510 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 260,848 | 346,928 | |
3,403,314 | |||
Health Care Technology - 0.0% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 26,096 | 1,235,907 | |
Series E1(a)(b)(c) | 21,357 | 1,011,468 | |
DNA Script: | |||
Series B(a)(b)(c) | 6 | 1,653 | |
Series C(a)(b)(c) | 2,549 | 1,121,765 | |
Omada Health, Inc. Series E (a)(b)(c) | 636,551 | 2,469,818 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 37,950 | 58,064 | |
Series B(a)(b)(c) | 196,968 | 435,299 | |
Series C(a)(b)(c) | 65,704 | 166,888 | |
Wugen, Inc. Series B (a)(b)(c) | 121,894 | 649,695 | |
7,150,557 | |||
Pharmaceuticals - 0.0% | |||
Agomab Therapeutics SA Series C (b)(c) | 15,098 | 3,429,976 | |
Castle Creek Pharmaceutical Holdings, Inc. Series C (a)(b)(c) | 582 | 116,458 | |
Galvanize Therapeutics Series B (a)(b)(c) | 1,125,997 | 1,565,136 | |
5,111,570 | |||
TOTAL HEALTH CARE | 83,146,377 | ||
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.4% | |||
Space Exploration Technologies Corp.: | |||
Series G(a)(b)(c) | 7,729 | 6,260,490 | |
Series J(b)(c) | 52,171 | 42,258,510 | |
Series N(a)(b)(c) | 19,900 | 16,119,000 | |
64,638,000 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 10,545 | 949,472 | |
Series B, 6.00%(a)(b)(c) | 20,919 | 2,058,430 | |
3,007,902 | |||
TOTAL INDUSTRIALS | 67,645,902 | ||
INFORMATION TECHNOLOGY - 0.3% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Enevate Corp. Series E (a)(b)(c) | 754,820 | 634,049 | |
Menlo Micro, Inc. Series C (a)(b)(c) | 993,699 | 755,211 | |
VAST Data Ltd.: | |||
Series A(b)(c) | 107,503 | 1,182,533 | |
Series A1(b)(c) | 264,598 | 2,910,578 | |
Series A2(b)(c) | 304,373 | 3,348,103 | |
Series B(b)(c) | 242,193 | 2,664,123 | |
Series C(b)(c) | 7,060 | 77,660 | |
Series E(b)(c) | 231,432 | 5,091,504 | |
16,663,761 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(b)(c) | 43,034 | 793,977 | |
Astera Labs, Inc.: | |||
Series A(a)(b)(c) | 80,597 | 812,418 | |
Series B(a)(b)(c) | 13,723 | 138,328 | |
Series C(a)(b)(c) | 372,400 | 3,753,792 | |
Series D(a)(b)(c) | 273,573 | 2,757,616 | |
Retym, Inc. Series C (b)(c) | 202,380 | 1,550,231 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 299,482 | 1,913,690 | |
Series B1(a)(b)(c) | 167,848 | 1,242,075 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 122,201 | 551,127 | |
13,513,254 | |||
Software - 0.1% | |||
ASAPP, Inc. Series D (b)(c) | 612,736 | 1,580,859 | |
Bolt Technology OU Series E (a)(b)(c) | 17,815 | 2,039,224 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 37,815 | 2,779,403 | |
Series H(a)(b)(c) | 56,085 | 4,122,248 | |
Series I(b)(c) | 3,131 | 230,129 | |
Evozyne, Inc.: | |||
Series A(a)(b)(c) | 78,000 | 1,142,700 | |
Series B(b)(c) | 95,720 | 1,479,831 | |
Skyryse, Inc. Series B (a)(b)(c) | 117,653 | 2,814,260 | |
Stripe, Inc. Series H (a)(b)(c) | 14,400 | 316,944 | |
16,505,598 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (b)(c) | 136,712 | 2,587,958 | |
TOTAL INFORMATION TECHNOLOGY | 49,270,571 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 33,030 | 83,236 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 301,038 | 8,736,123 | |
TOTAL MATERIALS | 8,819,359 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials: | |||
Series C(a)(b)(c) | 20,469 | 960,405 | |
Series D(b)(c) | 7,960 | 373,483 | |
1,333,888 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 251,184,237 | ||
Nonconvertible Preferred Stocks - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Waymo LLC Series A2 (a)(b)(c) | 6,592 | 373,635 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 127,757 | 2,606,243 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 2,979,878 | ||
TOTAL PREFERRED STOCKS (Cost $263,322,376) | 254,164,115 | ||
Convertible Bonds - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27 (b)(c) | 310,600 | 415,490 | |
4% 6/12/27 (b)(c) | 82,200 | 109,959 | |
5.5% 10/29/26 (b)(c)(h) | 2,123,455 | 2,112,838 | |
2,638,287 | |||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (b)(c) | 2,000,000 | 2,301,800 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Evozyne, Inc. 6% 9/13/28 (b)(c) | 1,482,703 | 1,496,047 | |
MATERIALS - 0.0% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. 15% 9/28/25 (b)(c) | 993,920 | 1,532,625 | |
TOTAL CONVERTIBLE BONDS (Cost $6,992,878) | 7,968,759 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (b)(c) | 280,502 | 510,212 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Tenstorrent Holdings, Inc. 5% 11/6/25 (b)(c) | 993,812 | 1,003,486 | |
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(i) | 1,541,987 | 1,410,918 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. 6% (b)(c)(i) | 39,251 | 39,795 | |
TOTAL PREFERRED SECURITIES (Cost $2,855,552) | 2,964,411 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (j) | 34,863,567 | 34,870,540 | |
Fidelity Securities Lending Cash Central Fund 5.39% (j)(k) | 346,074,019 | 346,108,627 | |
TOTAL MONEY MARKET FUNDS (Cost $380,979,167) | 380,979,167 | ||
TOTAL INVESTMENT IN SECURITIES - 102.1% (Cost $11,714,003,612) | 16,487,739,483 |
NET OTHER ASSETS (LIABILITIES) - (2.1)% | (336,403,661) |
NET ASSETS - 100.0% | 16,151,335,822 |
(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 $352,558,705 or 2.2% of net assets. |
(c) | Level 3 security |
(d) | Security or a portion of the security is on loan at period end. |
(e) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $29,824,522 or 0.2% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(i) | Security is perpetual in nature with no stated maturity date. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(k) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Adimab LLC | 1/19/21 | 10,000,008 |
AgBiome LLC Series D | 9/03/21 | 3,033,967 |
Agomab Therapeutics SA Series C | 10/03/23 | 3,296,587 |
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 |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
ASAPP, Inc. Series D | 8/29/23 | 2,366,080 |
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 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 138,975 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 1,102,496 |
ByteDance Ltd. Series E1 | 11/18/20 | 5,373,408 |
Canva, Inc. Series A | 9/22/23 | 1,575,458 |
Canva, Inc. Series A2 | 9/22/23 | 285,865 |
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 |
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 |
CoreWeave, Inc. | 11/29/23 | 12,773,669 |
Databricks, Inc. Series G | 2/01/21 | 2,235,722 |
Databricks, Inc. Series H | 8/31/21 | 4,121,358 |
Databricks, Inc. Series I | 9/14/23 | 230,129 |
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. (unlisted) | 5/03/23 | 1,770,106 |
Discord, Inc. Series I | 9/15/21 | 770,874 |
DNA Script | 12/17/21 | 443,611 |
DNA Script Series B | 12/17/21 | 4,804 |
DNA Script Series C | 10/01/21 | 2,217,248 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 830,209 |
Element Biosciences, Inc. Series B | 12/13/19 | 655,374 |
Element Biosciences, Inc. Series C | 6/21/21 | 2,348,706 |
ElevateBio LLC Series C | 3/09/21 | 1,038,682 |
Enevate Corp. Series E | 1/29/21 | 836,858 |
Enevate Corp. 6% | 11/02/23 | 39,251 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 2,875,000 |
Evozyne, Inc. Series A | 4/09/21 | 1,752,660 |
Evozyne, Inc. Series B | 9/14/23 | 1,482,703 |
Evozyne, Inc. 6% 9/13/28 | 9/14/23 | 1,482,703 |
Fanatics, Inc. Class A | 8/13/20 - 10/24/22 | 7,298,410 |
Farmers Business Network, Inc. warrants 9/27/33 | 9/29/23 | 1 |
Farmers Business Network, Inc. Series G | 9/15/21 | 2,053,072 |
Farmers Business Network, Inc. 15% 9/28/25 | 9/29/23 | 993,920 |
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 |
Generate Biomedicines Series B | 11/02/21 | 2,273,494 |
Generate Biomedicines Series C | 6/05/23 | 1,253,149 |
Genesis Therapeutics, Inc. Series B | 8/10/23 | 2,982,231 |
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 |
Kardium, Inc. Series D6 | 12/30/20 | 1,104,251 |
Kardium, Inc. 0% | 12/30/20 | 1,541,987 |
Kartos Therapeutics, Inc. Series C | 8/22/23 | 2,672,580 |
Korro Bio, Inc. | 7/14/23 | 1,212,586 |
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 |
Morphimmune, Inc. | 6/29/23 | 2,425,172 |
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. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 2,123,455 |
Odyssey Therapeutics, Inc. Series B | 9/30/22 | 2,892,806 |
Odyssey Therapeutics, Inc. Series C | 10/25/23 | 2,212,210 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 280,502 |
Rapport Therapeutics, Inc. Series B | 8/11/23 | 2,924,862 |
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 |
Redwood Materials Series D | 6/02/23 | 379,977 |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 1,574,880 |
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 G | 9/07/23 | 6,260,490 |
Space Exploration Technologies Corp. Series J | 9/07/23 | 42,258,510 |
Space Exploration Technologies Corp. Series N | 8/04/20 | 5,373,000 |
Spyre Therapeutics, Inc. | 6/22/23 | 1,571,832 |
Stripe, Inc. Class B | 5/18/21 | 1,544,943 |
Stripe, Inc. Series H | 3/15/21 | 577,800 |
Structure Therapeutics, Inc. | 9/29/23 | 1,183,565 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 1,392,911 |
Tango Therapeutics, Inc. | 8/09/23 | 855,271 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 1,944,778 |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 993,812 |
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 |
VAST Data Ltd. Series A | 11/28/23 | 1,182,533 |
VAST Data Ltd. Series A1 | 11/28/23 | 2,910,578 |
VAST Data Ltd. Series A2 | 11/28/23 | 3,348,103 |
VAST Data Ltd. Series B | 11/28/23 | 2,664,123 |
VAST Data Ltd. Series C | 11/28/23 | 77,660 |
VAST Data Ltd. Series E | 11/28/23 | 5,091,504 |
Waymo LLC Series A2 | 5/08/20 | 566,037 |
Wugen, Inc. Series B | 7/09/21 | 945,276 |
X Holdings Corp. | 10/27/21 | 2,482,445 |
Xsight Labs Ltd. Series D | 2/16/21 | 977,119 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 22,944,514 | 1,221,134,963 | 1,209,208,937 | 2,399,444 | - | - | 34,870,540 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 347,584,554 | 1,665,080,982 | 1,666,556,909 | 1,339,332 | - | - | 346,108,627 | 1.3% |
Total | 370,529,068 | 2,886,215,945 | 2,875,765,846 | 3,738,776 | - | - | 380,979,167 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,348,554,261 | 1,330,213,026 | - | 18,341,235 |
Consumer Discretionary | 3,256,459,966 | 3,229,229,459 | 86,986 | 27,143,521 |
Consumer Staples | 511,785,763 | 506,718,643 | 2,248,319 | 2,818,801 |
Energy | 242,054,602 | 242,054,602 | - | - |
Financials | 529,861,725 | 515,485,806 | - | 14,375,919 |
Health Care | 2,175,841,847 | 2,074,072,088 | 7,166,834 | 94,602,925 |
Industrials | 723,986,908 | 615,940,723 | 14,098,438 | 93,947,747 |
Information Technology | 7,168,059,321 | 7,103,583,626 | - | 64,475,695 |
Materials | 111,284,793 | 99,945,926 | - | 11,338,867 |
Real Estate | 26,604,072 | 26,604,072 | - | - |
Utilities | 1,333,888 | - | - | 1,333,888 |
Corporate Bonds | 7,968,759 | - | - | 7,968,759 |
Preferred Securities | 2,964,411 | - | - | 2,964,411 |
Money Market Funds | 380,979,167 | 380,979,167 | - | - |
Total Investments in Securities: | 16,487,739,483 | 16,124,827,138 | 23,600,577 | 339,311,768 |
Investments in Securities: | |||
Beginning Balance | $ | 246,494,517 | |
Net Realized Gain (Loss) on Investment Securities | 615,087 | ||
Net Unrealized Gain (Loss) on Investment Securities | (10,787,158) | ||
Cost of Purchases | 111,369,863 | ||
Proceeds of Sales | (9,203,286) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 6,289,322 | ||
Transfers out of Level 3 | (5,466,577) | ||
Ending Balance | $ | 339,311,768 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (11,449,311) | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $334,884,904) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $11,333,024,445) | $ | 16,106,760,316 | ||
Fidelity Central Funds (cost $380,979,167) | 380,979,167 | |||
Total Investment in Securities (cost $11,714,003,612) | $ | 16,487,739,483 | ||
Foreign currency held at value (cost $4) | 4 | |||
Receivable for investments sold | 13,549,025 | |||
Receivable for fund shares sold | 8,866,383 | |||
Dividends receivable | 7,570,170 | |||
Interest receivable | 251,323 | |||
Distributions receivable from Fidelity Central Funds | 287,958 | |||
Total assets | 16,518,264,346 | |||
Liabilities | ||||
Payable for investments purchased | $ | 7,508,575 | ||
Payable for fund shares redeemed | 6,836,453 | |||
Accrued management fee | 6,063,548 | |||
Other payables and accrued expenses | 413,867 | |||
Collateral on securities loaned | 346,106,081 | |||
Total Liabilities | 366,928,524 | |||
Net Assets | $ | 16,151,335,822 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 12,520,191,048 | ||
Total accumulated earnings (loss) | 3,631,144,774 | |||
Net Assets | $ | 16,151,335,822 | ||
Net Asset Value, offering price and redemption price per share ($16,151,335,822 ÷ 764,324,773 shares) | $ | 21.13 |
Consolidated Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 73,111,669 | ||
Interest | 292,903 | |||
Income from Fidelity Central Funds (including $1,339,332 from security lending) | 3,738,776 | |||
Total Income | 77,143,348 | |||
Expenses | ||||
Management fee | $ | 62,677,303 | ||
Independent trustees' fees and expenses | 76,351 | |||
Interest | 52,868 | |||
Miscellaneous | 94,779 | |||
Total expenses before reductions | 62,901,301 | |||
Expense reductions | (3,026) | |||
Total expenses after reductions | 62,898,275 | |||
Net Investment income (loss) | 14,245,073 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $734,289) | (465,572,036) | |||
Redemptions in-kind | 217,419,927 | |||
Foreign currency transactions | 1,593 | |||
Futures contracts | 803,529 | |||
Total net realized gain (loss) | (247,346,987) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $724,093) | 3,421,918,254 | |||
Assets and liabilities in foreign currencies | (43,147) | |||
Total change in net unrealized appreciation (depreciation) | 3,421,875,107 | |||
Net gain (loss) | 3,174,528,120 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,188,773,193 |
Consolidated Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 14,245,073 | $ | 17,841,827 |
Net realized gain (loss) | (247,346,987) | (391,467,265) | ||
Change in net unrealized appreciation (depreciation) | 3,421,875,107 | (3,952,492,614) | ||
Net increase (decrease) in net assets resulting from operations | 3,188,773,193 | (4,326,118,052) | ||
Distributions to shareholders | (18,540,597) | (380,672,676) | ||
Share transactions | ||||
Proceeds from sales of shares | 4,809,922,340 | 4,035,985,469 | ||
Reinvestment of distributions | 17,792,720 | 379,380,027 | ||
Cost of shares redeemed | (3,458,216,801) | (3,067,304,400) | ||
Net increase (decrease) in net assets resulting from share transactions | 1,369,498,259 | 1,348,061,096 | ||
Total increase (decrease) in net assets | 4,539,730,855 | (3,358,729,632) | ||
Net Assets | ||||
Beginning of period | 11,611,604,967 | 14,970,334,599 | ||
End of period | $ | 16,151,335,822 | $ | 11,611,604,967 |
Other Information | ||||
Shares | ||||
Sold | 253,663,388 | 224,328,843 | ||
Issued in reinvestment of distributions | 1,171,344 | 16,416,271 | ||
Redeemed | (180,533,478) | (167,608,003) | ||
Net increase (decrease) | 74,301,254 | 73,137,111 | ||
Fidelity® Growth Company K6 Fund |
Years ended November 30, | 2023 | 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) | 4.31 | (6.87) | 5.78 | 7.49 | 1.18 | |||||
Total from investment operations | 4.33 | (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 | $ | 21.13 | $ | 16.83 | $ | 24.27 | $ | 18.67 | $ | 11.19 |
Total Return F,G | 25.77% | (28.85)% | 31.20% | 66.95% | 11.90% | |||||
Ratios to Average Net Assets C,H,I | ||||||||||
Expenses before reductions | .45% | .45% | .45% | .45% | .45% J | |||||
Expenses net of fee waivers, if any | .45% | .45% | .45% | .45% | .45% J | |||||
Expenses net of all reductions | .45% | .45% | .45% | .45% | .45% J | |||||
Net investment income (loss) | .10% | .15% | (.01)% E | .01% | .29% J | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 16,151,336 | $ | 11,611,605 | $ | 14,970,335 | $ | 8,000,089 | $ | 1,853,643 |
Portfolio turnover rate K,L | 17% | 23% | 22% | 18% | 16% M |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $328,378,598 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.5 - 13.5 / 12.2 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.1 - 21.6 / 6.9 | Increase | |||
Market approach | Transaction price | $0.70 - $309.86 / $59.76 | Increase | ||
Discount rate | 5.0% - 65.0% / 20.7% | Decrease | |||
Premium rate | 10.0% - 35.0% / 19.2% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Discount rate | 5.3% - 75.0% / 18.5% | Decrease | ||
Term | 1.1 - 8.3 / 3.1 | Increase | |||
Weighted average cost of capital (WACC) | 43.5% | Decrease | |||
Probability rate | 6.0% - 70.0% / 36.4% | Increase | |||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.2% - 5.1% / 4.7% | Increase | ||
Volatility | 45.0% - 100.0% / 73.8% | Increase | |||
Term | 1.5 - 5.0 / 2.9 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.21 / $0.04 | Increase | ||
Corporate Bonds | $7,968,759 | Market comparable | Discount rate | 21.7% - 29.2% / 25.3% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 1.4 - 4.8 / 3.1 | Increase | |||
Probability rate | 10.0% - 75.0% / 40.3% | Increase | |||
Market approach | Transaction price | $100.00 | Increase | ||
Discount rate | 20.2% | Decrease | |||
Probability rate | 10.0% - 70.0% / 33.3% | Increase | |||
Black scholes | Discount rate | 4.6% | Increase | ||
Volatility | 50.0% - 75.0% / 64.0% | Increase | |||
Term | 0.1 - 3.0 / 1.3 | Increase | |||
Preferred Securities | $2,964,411 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.5 | Increase |
Market approach | Transaction price | $1.10 - $100.00 / $98.40 | Increase | ||
Discount rate | 10.0% - 30.0% / 17.3% | Decrease | |||
Probability rate | 10.0% - 60.0% / 33.3% | Increase | |||
Black scholes | Discount rate | 4.6% - 5.1% / 4.9% | Increase | ||
Volatility | 60.0% - 100.0% / 68.7% | Increase | |||
Term | 1.5 - 3.0 / 2.3 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase |
Gross unrealized appreciation | $5,781,209,643 |
Gross unrealized depreciation | (1,064,151,279) |
Net unrealized appreciation (depreciation) | $4,717,058,364 |
Tax Cost | $11,770,681,119 |
Undistributed ordinary income | $14,868,992 |
Capital loss carryforward | $(1,100,359,924) |
Net unrealized appreciation (depreciation) on securities and other investments | $4,717,049,475 |
Short-term | $(607,409,941) | |
Long-term | (492,949,983) | |
Total capital loss carryforward | $(1,100,359,924) |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $18,540,597 | $110,477,145 |
Long-term Capital Gains | - | 270,195,531 |
Total | $18,540,597 | $380,672,676 |
$ Amount | % of Net Assets | |
Fidelity Growth Company K6 Fund | 4,701,948 | .03 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Growth Company K6 Fund | 2,298,632,688 | 2,588,653,954 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 27,935,116 | 217,419,927 | 525,925,884 |
Shares | Total Proceeds ($) | |
Fidelity Growth Company K6 Fund | 111,315,286 | 2,174,299,915 |
Shares | Total net realized gain or loss ($) | 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 | $ 57,519 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Company K6 Fund | Borrower | $ 28,771,000 | 5.51% | $ 52,868 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company K6 Fund | 263,456,553 | 635,795,057 | (117,521,443) |
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 | $143,597 | $50,740 | $3,853,952 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Growth Company K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,104.00 | $ 2.37 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.81 | $ 2.28 | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Series Growth Company Fund | 26.24% | 20.07% | 17.19% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Series Growth Company Fund on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 12.1 | |
Apple, Inc. | 11.4 | |
Microsoft Corp. | 7.8 | |
Amazon.com, Inc. | 6.2 | |
lululemon athletica, Inc. | 4.4 | |
Alphabet, Inc. Class A | 4.4 | |
Alphabet, Inc. Class C | 2.5 | |
Salesforce, Inc. | 1.8 | |
Tesla, Inc. | 1.7 | |
Eli Lilly & Co. | 1.7 | |
54.0 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 45.3 | |
Consumer Discretionary | 19.7 | |
Health Care | 12.2 | |
Communication Services | 10.1 | |
Industrials | 4.5 | |
Financials | 3.0 | |
Consumer Staples | 2.8 | |
Energy | 1.3 | |
Materials | 0.6 | |
Real Estate | 0.1 | |
Utilities | 0.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.9% | |||
Entertainment - 0.9% | |||
Electronic Arts, Inc. | 3,454 | 476,687 | |
Netflix, Inc. (a) | 227,129 | 107,652,332 | |
Roblox Corp. (a) | 2,800 | 110,068 | |
Roku, Inc. Class A (a) | 90,976 | 9,479,699 | |
The Walt Disney Co. | 46,876 | 4,344,936 | |
122,063,722 | |||
Interactive Media & Services - 8.6% | |||
Alphabet, Inc.: | |||
Class A (a) | 4,486,980 | 594,659,459 | |
Class C (a) | 2,560,460 | 342,896,803 | |
Epic Games, Inc. (a)(b)(c) | 11,800 | 6,973,328 | |
IAC, Inc. (a) | 8,800 | 420,904 | |
Meta Platforms, Inc. Class A (a) | 643,230 | 210,432,695 | |
Snap, Inc. Class A (a) | 1,524,281 | 21,080,806 | |
1,176,463,995 | |||
Media - 0.0% | |||
The Trade Desk, Inc. (a) | 7,800 | 549,588 | |
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. | 327,553 | 49,280,349 | |
TOTAL COMMUNICATION SERVICES | 1,348,357,654 | ||
CONSUMER DISCRETIONARY - 19.4% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (a)(d) | 68,300 | 2,803,715 | |
Automobiles - 2.0% | |||
Neutron Holdings, Inc. (a)(b)(c) | 438,358 | 14,159 | |
Rad Power Bikes, Inc. (b)(c) | 249,183 | 104,657 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 181,375 | 415,349 | |
Rivian Automotive, Inc. (a)(d) | 2,053,819 | 34,422,006 | |
Tesla, Inc. (a) | 992,805 | 238,352,624 | |
273,308,795 | |||
Broadline Retail - 6.7% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 58,500 | 4,380,480 | |
Amazon.com, Inc. (a) | 5,717,460 | 835,263,731 | |
Etsy, Inc. (a) | 20,881 | 1,582,989 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 816,687 | 59,838,656 | |
PDD Holdings, Inc. ADR (a) | 18,800 | 2,771,872 | |
903,837,728 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 12,800 | 2,717,312 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (a) | 64,700 | 8,174,198 | |
Booking Holdings, Inc. (a) | 22,672 | 70,865,870 | |
Cava Group, Inc. | 10,100 | 343,501 | |
Chipotle Mexican Grill, Inc. (a) | 11,435 | 25,182,729 | |
Dutch Bros, Inc. (a) | 154,800 | 4,137,804 | |
Expedia, Inc. (a) | 44,300 | 6,032,774 | |
Hyatt Hotels Corp. Class A | 5,483 | 629,229 | |
Marriott International, Inc. Class A | 81,250 | 16,469,375 | |
McDonald's Corp. | 3,825 | 1,078,038 | |
Penn Entertainment, Inc. (a) | 467,400 | 11,479,344 | |
Shake Shack, Inc. Class A (a) | 23,436 | 1,419,284 | |
Sonder Holdings, Inc.: | |||
Stage 1 rights (a)(c) | 14,240 | 427 | |
Stage 2 rights (a)(c) | 14,240 | 285 | |
Stage 3 rights (a)(c) | 14,239 | 142 | |
Stage 4 rights (a)(c) | 14,239 | 142 | |
Stage 5: | |||
rights (a)(c) | 14,238 | 142 | |
rights (a)(c) | 14,238 | 142 | |
Starbucks Corp. | 102,153 | 10,143,793 | |
Sweetgreen, Inc. Class A (a) | 371,102 | 3,492,070 | |
Trip.com Group Ltd. ADR (a) | 136,300 | 4,795,034 | |
Zomato Ltd. (a) | 2,843,600 | 4,042,896 | |
168,287,219 | |||
Household Durables - 0.3% | |||
Lennar Corp. Class A | 285,819 | 36,561,966 | |
Purple Innovation, Inc. (d) | 948,287 | 588,317 | |
SharkNinja Hong Kong Co. Ltd. | 58,400 | 2,744,800 | |
Toll Brothers, Inc. | 34,900 | 2,997,561 | |
42,892,644 | |||
Leisure Products - 0.0% | |||
Peloton Interactive, Inc. Class A (a)(d) | 28,542 | 161,548 | |
Specialty Retail - 2.6% | |||
Abercrombie & Fitch Co. Class A (a) | 46,500 | 3,528,885 | |
Dick's Sporting Goods, Inc. | 42,782 | 5,565,938 | |
Fanatics, Inc. Class A (a)(b)(c) | 180,405 | 13,088,383 | |
Five Below, Inc. (a) | 23,600 | 4,447,656 | |
Floor & Decor Holdings, Inc. Class A (a)(d) | 58,300 | 5,346,693 | |
Foot Locker, Inc. | 60,700 | 1,634,651 | |
Lowe's Companies, Inc. | 277,973 | 55,269,372 | |
Revolve Group, Inc. (a)(d) | 462,823 | 6,164,802 | |
RH (a) | 13,529 | 3,652,424 | |
Ross Stores, Inc. | 58,700 | 7,653,306 | |
RumbleON, Inc.: | |||
Class B (a) | 179,200 | 1,048,320 | |
rights (a) | 179,200 | 67,639 | |
The Home Depot, Inc. | 272,977 | 85,575,560 | |
TJX Companies, Inc. | 1,033,072 | 91,023,974 | |
Wayfair LLC Class A (a)(d) | 1,147,347 | 64,021,963 | |
348,089,566 | |||
Textiles, Apparel & Luxury Goods - 6.6% | |||
Birkenstock Holding PLC (d) | 69,500 | 3,207,425 | |
Canada Goose Holdings, Inc. (a)(d) | 497,515 | 5,517,964 | |
Crocs, Inc. (a) | 54,800 | 5,787,428 | |
Deckers Outdoor Corp. (a) | 165,701 | 110,020,493 | |
Figs, Inc. Class A (a)(d) | 80,300 | 582,978 | |
Li Ning Co. Ltd. | 499,500 | 1,390,822 | |
lululemon athletica, Inc. (a) | 1,332,858 | 595,520,954 | |
NIKE, Inc. Class B | 286,754 | 31,620,364 | |
On Holding AG (a)(d) | 1,457,806 | 42,290,952 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 1,623,062 | 95,614,582 | |
Tory Burch LLC (a)(b)(c)(e) | 248,840 | 8,843,774 | |
900,397,736 | |||
TOTAL CONSUMER DISCRETIONARY | 2,642,496,263 | ||
CONSUMER STAPLES - 2.8% | |||
Beverages - 1.3% | |||
Celsius Holdings, Inc. (a) | 449,900 | 22,274,549 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 10,600 | 2,549,194 | |
Keurig Dr. Pepper, Inc. | 533,871 | 16,854,307 | |
Monster Beverage Corp. | 775,870 | 42,789,231 | |
PepsiCo, Inc. | 154,964 | 26,078,892 | |
The Coca-Cola Co. | 1,026,207 | 59,971,537 | |
170,517,710 | |||
Consumer Staples Distribution & Retail - 0.7% | |||
Costco Wholesale Corp. | 89,644 | 53,135,585 | |
Dollar General Corp. | 24,840 | 3,257,021 | |
Dollar Tree, Inc. (a) | 27,844 | 3,441,240 | |
Kroger Co. | 145,640 | 6,447,483 | |
Maplebear, Inc. (d) | 7,400 | 179,006 | |
Maplebear, Inc. (unlisted) | 20,245 | 440,754 | |
Ocado Group PLC (a) | 22,420 | 169,825 | |
Target Corp. | 106,613 | 14,265,886 | |
Walmart, Inc. | 97,300 | 15,148,637 | |
96,485,437 | |||
Food Products - 0.2% | |||
Archer Daniels Midland Co. | 1,700 | 125,341 | |
Bowery Farming, Inc. warrants (a)(b)(c) | 14,699 | 60,707 | |
Bunge Global SA | 119,854 | 13,168,359 | |
Kellanova | 22,200 | 1,166,388 | |
Mondelez International, Inc. | 70,317 | 4,996,726 | |
The Hershey Co. | 48,400 | 9,095,328 | |
The Real Good Food Co. LLC: | |||
Class B (a)(c) | 131,479 | 1 | |
Class B unit (a)(f) | 131,479 | 249,810 | |
The Real Good Food Co., Inc. (a) | 151,900 | 288,610 | |
WK Kellogg Co. | 5,600 | 62,720 | |
29,213,990 | |||
Household Products - 0.2% | |||
Church & Dwight Co., Inc. | 37,121 | 3,587,002 | |
Colgate-Palmolive Co. | 30,091 | 2,370,268 | |
Procter & Gamble Co. | 142,078 | 21,811,815 | |
The Clorox Co. | 14,500 | 2,078,575 | |
29,847,660 | |||
Personal Care Products - 0.1% | |||
elf Beauty, Inc. (a) | 36,900 | 4,357,521 | |
Kenvue, Inc. | 70,100 | 1,432,844 | |
Oddity Tech Ltd. (d) | 42,600 | 1,451,808 | |
Oddity Tech Ltd. Class A | 34,271 | 1,109,558 | |
The Beauty Health Co. (a)(d) | 536,798 | 1,374,203 | |
The Beauty Health Co. (a)(b) | 553,828 | 1,417,800 | |
11,143,734 | |||
Tobacco - 0.3% | |||
JUUL Labs, Inc. Class A (a)(b)(c) | 13,297 | 14,228 | |
Philip Morris International, Inc. | 460,000 | 42,945,600 | |
42,959,828 | |||
TOTAL CONSUMER STAPLES | 380,168,359 | ||
ENERGY - 1.3% | |||
Energy Equipment & Services - 0.2% | |||
Baker Hughes Co. Class A | 187,900 | 6,341,625 | |
Halliburton Co. | 622,400 | 23,047,472 | |
29,389,097 | |||
Oil, Gas & Consumable Fuels - 1.1% | |||
Cameco Corp. (d) | 386,900 | 17,766,448 | |
EOG Resources, Inc. | 8,900 | 1,095,323 | |
EQT Corp. | 83,500 | 3,336,660 | |
Exxon Mobil Corp. | 6,200 | 636,988 | |
Hess Corp. | 567,906 | 79,824,867 | |
Range Resources Corp. | 786,500 | 25,561,250 | |
Reliance Industries Ltd. | 420,259 | 11,982,595 | |
Valero Energy Corp. | 44,500 | 5,578,520 | |
145,782,651 | |||
TOTAL ENERGY | 175,171,748 | ||
FINANCIALS - 2.8% | |||
Banks - 0.3% | |||
Bank of America Corp. | 487,317 | 14,858,295 | |
HDFC Bank Ltd. sponsored ADR | 285,222 | 17,124,729 | |
JPMorgan Chase & Co. | 77,323 | 12,068,574 | |
Wells Fargo & Co. | 37,200 | 1,658,748 | |
45,710,346 | |||
Capital Markets - 0.2% | |||
3i Group PLC | 76,000 | 2,141,519 | |
BlackRock, Inc. Class A | 28,597 | 21,482,924 | |
Coinbase Global, Inc. (a) | 4,700 | 586,184 | |
24,210,627 | |||
Financial Services - 2.3% | |||
Ant International Co. Ltd. Class C (a)(b)(c) | 570,188 | 1,054,848 | |
Block, Inc. Class A (a) | 20,585 | 1,305,707 | |
Jio Financial Services Ltd. | 589,359 | 1,621,421 | |
MasterCard, Inc. Class A | 300,649 | 124,417,576 | |
PayPal Holdings, Inc. (a) | 117,827 | 6,788,013 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | 16,498 | 40,090 | |
Toast, Inc. (a) | 1,185,400 | 17,626,898 | |
Visa, Inc. Class A | 637,012 | 163,508,240 | |
316,362,793 | |||
TOTAL FINANCIALS | 386,283,766 | ||
HEALTH CARE - 11.6% | |||
Biotechnology - 6.4% | |||
4D Pharma PLC (a)(c)(d) | 596,200 | 125,395 | |
AbbVie, Inc. | 93,249 | 13,277,725 | |
Absci Corp. (a) | 1,024,133 | 1,710,302 | |
ACADIA Pharmaceuticals, Inc. (a) | 404,071 | 9,002,702 | |
Acelyrin, Inc. | 128,900 | 866,208 | |
Akouos, Inc. (CVR) (c) | 200,563 | 166,467 | |
Alector, Inc. (a) | 782,355 | 4,240,364 | |
Allogene Therapeutics, Inc. (a) | 727,900 | 1,710,565 | |
Allovir, Inc. (a)(d) | 475,010 | 893,019 | |
Alnylam Pharmaceuticals, Inc. (a) | 443,031 | 74,539,966 | |
Amgen, Inc. | 85,404 | 23,028,335 | |
Apellis Pharmaceuticals, Inc. (a) | 65,200 | 3,512,324 | |
Apogee Therapeutics, Inc. | 90,200 | 1,759,802 | |
Apogee Therapeutics, Inc. (unlisted) | 217,262 | 4,026,843 | |
Argenx SE ADR (a) | 166,860 | 75,188,785 | |
Arrowhead Pharmaceuticals, Inc. (a) | 34,759 | 736,891 | |
Ascendis Pharma A/S sponsored ADR (a) | 9,489 | 952,980 | |
aTyr Pharma, Inc. (a) | 589,887 | 766,853 | |
Avidity Biosciences, Inc. (a) | 530,212 | 4,140,956 | |
Beam Therapeutics, Inc. (a)(d) | 196,200 | 5,509,296 | |
BeiGene Ltd. ADR (a) | 118,339 | 22,122,293 | |
Biogen, Inc. (a) | 1,142 | 267,319 | |
Biomea Fusion, Inc. (a)(d) | 514,427 | 7,752,415 | |
BioNTech SE ADR (a) | 7,102 | 713,112 | |
BioXcel Therapeutics, Inc. (a)(d) | 210,160 | 798,608 | |
Cargo Therapeutics, Inc. | 124,800 | 1,865,760 | |
Caris Life Sciences, Inc. (a)(b)(c) | 396,011 | 1,302,876 | |
Century Therapeutics, Inc. (a) | 193,300 | 264,821 | |
Cerevel Therapeutics Holdings (a) | 1,658,722 | 43,010,661 | |
Cibus, Inc. (a)(d) | 199,851 | 2,512,127 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a)(c) | 104,600 | 1 | |
CRISPR Therapeutics AG (a)(d) | 155,900 | 10,403,207 | |
Cyclerion Therapeutics, Inc. (a) | 2,710 | 5,854 | |
Cyclerion Therapeutics, Inc. (a)(b) | 7,527 | 16,258 | |
Day One Biopharmaceuticals, Inc. (a)(d) | 215,500 | 2,495,490 | |
Denali Therapeutics, Inc. (a) | 6,374 | 118,046 | |
Deverra Therapeutics, Inc. (a)(c) | 20,487 | 0 | |
Dianthus Therapeutics, Inc. (a) | 62,798 | 702,082 | |
Dianthus Therapeutics, Inc. (unlisted) (b) | 58,952 | 626,129 | |
Disc Medicine, Inc. rights (a)(c) | 16,600 | 0 | |
Foghorn Therapeutics, Inc. (a) | 199,883 | 849,503 | |
Generation Bio Co. (a) | 357,260 | 403,704 | |
Geron Corp. (a) | 522,800 | 1,009,004 | |
Idorsia Ltd. (a)(d) | 131,784 | 288,339 | |
Immunocore Holdings PLC ADR (a) | 62,370 | 3,288,770 | |
ImmunoGen, Inc. (a) | 321,100 | 9,424,285 | |
Immunovant, Inc. (a) | 629,100 | 24,616,683 | |
Inhibrx, Inc. (a) | 114,600 | 2,380,242 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(c) | 7,022 | 0 | |
Invivyd, Inc. (a) | 193,617 | 296,234 | |
Ionis Pharmaceuticals, Inc. (a)(d) | 2,048,969 | 101,362,496 | |
Janux Therapeutics, Inc. (a) | 135,192 | 1,180,226 | |
Karuna Therapeutics, Inc. (a) | 363,999 | 69,600,249 | |
Korro Bio, Inc. (b) | 16,996 | 676,687 | |
Korro Bio, Inc. | 23,257 | 877,231 | |
Legend Biotech Corp. ADR (a) | 538,650 | 32,760,693 | |
Lyell Immunopharma, Inc. (a) | 349,500 | 604,635 | |
Madrigal Pharmaceuticals, Inc. (a) | 5,300 | 1,077,490 | |
Moderna, Inc. (a) | 241,641 | 18,775,506 | |
Monte Rosa Therapeutics, Inc. (a) | 238,800 | 740,280 | |
Moonlake Immunotherapeutics (a)(d) | 58,300 | 2,559,953 | |
Morphic Holding, Inc. (a) | 362,314 | 8,586,842 | |
Morphimmune, Inc. (b) | 333,597 | 2,488,634 | |
Nuvalent, Inc. Class A (a) | 472,260 | 30,871,636 | |
Omega Therapeutics, Inc. (a)(d) | 412,679 | 945,035 | |
ORIC Pharmaceuticals, Inc. (a) | 85,908 | 678,673 | |
Poseida Therapeutics, Inc. (a) | 867,459 | 2,316,116 | |
Prothena Corp. PLC (a)(d) | 741,705 | 24,164,749 | |
PTC Therapeutics, Inc. (a) | 70,430 | 1,621,299 | |
RAPT Therapeutics, Inc. (a) | 239,800 | 3,481,896 | |
RayzeBio, Inc. (d) | 66,100 | 1,578,468 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 425,200 | 2,912,620 | |
Regeneron Pharmaceuticals, Inc. (a) | 70,871 | 58,384,239 | |
Relay Therapeutics, Inc. (a)(d) | 113,400 | 896,994 | |
Revolution Medicines, Inc. (a) | 192,602 | 4,493,405 | |
Roivant Sciences Ltd. (a) | 2,721,300 | 26,015,628 | |
Sage Therapeutics, Inc. (a) | 503,013 | 9,848,995 | |
Sagimet Biosciences, Inc. (d) | 177,625 | 678,528 | |
Sana Biotechnology, Inc. (a)(d) | 593,900 | 2,411,234 | |
Scholar Rock Holding Corp. (a) | 636,834 | 8,017,740 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 44,550 | 292,300 | |
Seres Therapeutics, Inc. (a)(d) | 1,557,200 | 1,619,488 | |
Shattuck Labs, Inc. (a) | 422,100 | 827,316 | |
Sigilon Therapeutics, Inc. rights (a)(c) | 3,192 | 24,163 | |
SpringWorks Therapeutics, Inc. (a)(d) | 854,749 | 25,975,822 | |
Spyre Therapeutics, Inc. (b) | 196,000 | 3,657,360 | |
Synlogic, Inc. (a) | 22,340 | 55,850 | |
Tango Therapeutics, Inc. (b) | 148,501 | 1,128,608 | |
Tango Therapeutics, Inc. (a) | 286,206 | 2,175,166 | |
Taysha Gene Therapies, Inc. (a) | 936,201 | 1,647,714 | |
Turnstone Biologics Corp. | 69,700 | 151,946 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 700,000 | 8,789 | |
Vaxcyte, Inc. (a) | 235,990 | 12,217,202 | |
Vera Therapeutics, Inc. (a) | 137,482 | 1,862,881 | |
Vertex Pharmaceuticals, Inc. (a) | 69,993 | 24,834,216 | |
Verve Therapeutics, Inc. (a)(d) | 74,400 | 839,232 | |
Viking Therapeutics, Inc. (a)(d) | 1,032,000 | 12,611,040 | |
Vor Biopharma, Inc. (a) | 315,232 | 583,179 | |
WuXi XDC Cayman, Inc. | 123,629 | 452,651 | |
Zai Lab Ltd. ADR (a)(d) | 72,986 | 1,991,788 | |
Zentalis Pharmaceuticals, Inc. (a) | 238,546 | 2,683,643 | |
879,938,132 | |||
Health Care Equipment & Supplies - 1.0% | |||
Abbott Laboratories | 19,401 | 2,023,330 | |
Axonics Modulation Technologies, Inc. (a) | 83,150 | 4,655,569 | |
Blink Health LLC Series A1 (a)(b)(c) | 8,589 | 403,082 | |
Boston Scientific Corp. (a) | 24,800 | 1,386,072 | |
DexCom, Inc. (a) | 51,884 | 5,993,640 | |
Inspire Medical Systems, Inc. (a) | 13,150 | 1,910,827 | |
Insulet Corp. (a) | 97,160 | 18,371,984 | |
Intuitive Surgical, Inc. (a) | 153,073 | 47,581,211 | |
Novocure Ltd. (a) | 1,500,274 | 18,408,362 | |
Outset Medical, Inc. (a) | 385,579 | 2,020,434 | |
Penumbra, Inc. (a) | 800 | 177,672 | |
Presbia PLC (a)(c) | 454,926 | 5 | |
PROCEPT BioRobotics Corp. (a) | 386,662 | 14,333,560 | |
Shockwave Medical, Inc. (a) | 97,967 | 17,100,140 | |
134,365,888 | |||
Health Care Providers & Services - 1.1% | |||
Alignment Healthcare, Inc. (a) | 461,922 | 3,464,415 | |
Guardant Health, Inc. (a) | 74,600 | 1,877,682 | |
Humana, Inc. | 29,443 | 14,275,733 | |
McKesson Corp. | 18,800 | 8,846,528 | |
The Oncology Institute, Inc. (a)(b) | 377,375 | 645,311 | |
UnitedHealth Group, Inc. | 208,854 | 115,489,996 | |
144,599,665 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(b)(c) | 85 | 22,632 | |
DNA Script (a)(b)(c) | 324 | 86,292 | |
108,924 | |||
Life Sciences Tools & Services - 0.4% | |||
10X Genomics, Inc. (a) | 19,300 | 839,936 | |
10X Genomics, Inc. Class B (a)(f) | 570,857 | 24,843,697 | |
Danaher Corp. | 21,733 | 4,853,196 | |
Gerresheimer AG | 18,600 | 1,758,374 | |
Seer, Inc. (a) | 168,217 | 270,829 | |
Thermo Fisher Scientific, Inc. | 30,374 | 15,058,214 | |
WuXi AppTec Co. Ltd. (H Shares) (d)(f) | 193,140 | 2,262,403 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 1,254,310 | 6,985,071 | |
56,871,720 | |||
Pharmaceuticals - 2.7% | |||
Adimab LLC (a)(b)(c)(e) | 762,787 | 18,215,354 | |
Agomab Therapeutics SA warrants 10/10/33 (a)(c) | 10 | 0 | |
Arvinas Holding Co. LLC (a) | 34,300 | 753,571 | |
Bristol-Myers Squibb Co. | 72,265 | 3,568,446 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 126,113 | 2,316,696 | |
Eli Lilly & Co. | 377,400 | 223,058,496 | |
Fulcrum Therapeutics, Inc. (a) | 335,601 | 1,610,885 | |
GH Research PLC (a) | 200,996 | 1,254,215 | |
Harmony Biosciences Holdings, Inc. (a) | 413,523 | 12,016,978 | |
Intra-Cellular Therapies, Inc. (a) | 674,609 | 41,400,754 | |
Merck & Co., Inc. | 46,000 | 4,714,080 | |
Novo Nordisk A/S Series B sponsored ADR | 376,900 | 38,383,496 | |
Nuvation Bio, Inc. (a) | 1,827,803 | 2,266,476 | |
OptiNose, Inc. (a) | 1,566,100 | 1,957,625 | |
OptiNose, Inc. warrants (a) | 206,400 | 57,391 | |
Pfizer, Inc. | 16,000 | 487,520 | |
Pharvaris BV (a) | 42,750 | 735,728 | |
Pliant Therapeutics, Inc. (a)(d) | 327,200 | 4,544,808 | |
Sienna Biopharmaceuticals, Inc. (a) | 589,618 | 1 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 126,063 | 1,138,349 | |
Structure Therapeutics, Inc. (b) | 75,231 | 1,396,538 | |
UCB SA | 162,600 | 12,007,008 | |
371,884,415 | |||
TOTAL HEALTH CARE | 1,587,768,744 | ||
INDUSTRIALS - 4.2% | |||
Aerospace & Defense - 0.9% | |||
AeroVironment, Inc. (a) | 48,700 | 6,701,607 | |
Lockheed Martin Corp. | 41,750 | 18,694,398 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 1,005,320 | 81,430,920 | |
The Boeing Co. (a) | 77,686 | 17,994,408 | |
124,821,333 | |||
Air Freight & Logistics - 0.1% | |||
Delhivery Private Ltd. (a) | 646,600 | 3,033,203 | |
United Parcel Service, Inc. Class B | 20,684 | 3,135,901 | |
6,169,104 | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 7,277 | 562,148 | |
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 333,500 | 12,683,005 | |
Quanta Services, Inc. | 43,600 | 8,210,316 | |
20,893,321 | |||
Electrical Equipment - 0.6% | |||
Eaton Corp. PLC | 211,624 | 48,184,669 | |
Emerson Electric Co. | 133,749 | 11,890,286 | |
Generac Holdings, Inc. (a) | 106,700 | 12,491,369 | |
Nextracker, Inc. Class A | 33,800 | 1,373,632 | |
NuScale Power Corp. (a)(d) | 208,700 | 578,099 | |
Schneider Electric SA | 51,800 | 9,533,931 | |
84,051,986 | |||
Ground Transportation - 1.5% | |||
Avis Budget Group, Inc. (a) | 391,000 | 71,494,350 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 1,142 | 11 | |
Stage 2 rights (a)(c) | 1,142 | 0 | |
Stage 3 rights (a)(c) | 1,142 | 0 | |
Lyft, Inc. (a) | 785,126 | 9,209,528 | |
Uber Technologies, Inc. (a) | 1,722,204 | 97,097,862 | |
Union Pacific Corp. | 126,261 | 28,442,815 | |
206,244,566 | |||
Industrial Conglomerates - 0.1% | |||
3M Co. | 14,580 | 1,444,441 | |
General Electric Co. | 43,400 | 5,286,120 | |
Honeywell International, Inc. | 22,183 | 4,346,093 | |
11,076,654 | |||
Machinery - 0.5% | |||
Caterpillar, Inc. | 102,860 | 25,789,059 | |
Deere & Co. | 75,852 | 27,641,227 | |
Illinois Tool Works, Inc. | 34,453 | 8,344,861 | |
Ingersoll Rand, Inc. | 54,444 | 3,888,935 | |
65,664,082 | |||
Passenger Airlines - 0.3% | |||
Delta Air Lines, Inc. | 328,890 | 12,145,908 | |
JetBlue Airways Corp. (a) | 63,214 | 279,406 | |
Ryanair Holdings PLC sponsored ADR (a) | 5,578 | 659,431 | |
Southwest Airlines Co. | 331,237 | 8,469,730 | |
United Airlines Holdings, Inc. (a) | 273,025 | 10,757,185 | |
Wheels Up Experience, Inc.: | |||
rights (a)(c) | 23,018 | 0 | |
rights (a)(c) | 23,018 | 0 | |
rights (a)(c) | 23,018 | 0 | |
Wizz Air Holdings PLC (a)(f) | 403,683 | 9,596,325 | |
41,907,985 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 217,400 | 2,506,622 | |
Paylocity Holding Corp. (a) | 17,397 | 2,725,588 | |
5,232,210 | |||
TOTAL INDUSTRIALS | 566,623,389 | ||
INFORMATION TECHNOLOGY - 44.9% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 113,582 | 24,955,101 | |
Ciena Corp. (a) | 759,597 | 34,827,522 | |
Infinera Corp. (a)(d) | 3,361,153 | 13,074,885 | |
72,857,508 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a) | 42,190 | 1,552,170 | |
TE Connectivity Ltd. | 1,341 | 175,671 | |
1,727,841 | |||
IT Services - 1.4% | |||
Accenture PLC Class A | 101,700 | 33,880,338 | |
Cloudflare, Inc. (a) | 893,981 | 68,970,634 | |
IBM Corp. | 117,895 | 18,693,431 | |
MongoDB, Inc. Class A (a) | 19,141 | 7,957,679 | |
Okta, Inc. (a) | 105,881 | 7,099,321 | |
Shopify, Inc. Class A (a) | 547,390 | 39,875,826 | |
Snowflake, Inc. (a) | 79,025 | 14,831,412 | |
Twilio, Inc. Class A (a) | 6,600 | 426,888 | |
X Holdings Corp. (b)(c) | 22,630 | 644,502 | |
192,380,031 | |||
Semiconductors & Semiconductor Equipment - 15.6% | |||
Advanced Micro Devices, Inc. (a) | 669,036 | 81,060,402 | |
Allegro MicroSystems LLC (a) | 19,500 | 530,790 | |
Applied Materials, Inc. | 369,585 | 55,356,441 | |
Arm Holdings Ltd. ADR (d) | 68,700 | 4,225,050 | |
ASML Holding NV (depository receipt) | 17,435 | 11,921,356 | |
Broadcom, Inc. | 29,025 | 26,869,313 | |
Cirrus Logic, Inc. (a) | 339,666 | 25,784,046 | |
Enphase Energy, Inc. (a) | 26,100 | 2,636,622 | |
First Solar, Inc. (a) | 166,850 | 26,325,593 | |
GaN Systems, Inc. (c) | 218,624 | 22,010 | |
GaN Systems, Inc. (c) | 218,624 | 2 | |
GlobalFoundries, Inc. (a) | 73,000 | 3,919,370 | |
Impinj, Inc. (a) | 118,528 | 9,907,756 | |
KLA Corp. | 43,086 | 23,465,497 | |
Lam Research Corp. | 16,450 | 11,776,884 | |
Lattice Semiconductor Corp. (a) | 48,500 | 2,839,675 | |
Marvell Technology, Inc. | 901,341 | 50,231,734 | |
Micron Technology, Inc. | 107,631 | 8,192,872 | |
Monolithic Power Systems, Inc. | 26,300 | 14,431,336 | |
NVIDIA Corp. | 3,523,940 | 1,648,146,743 | |
ON Semiconductor Corp. (a) | 207,200 | 14,779,576 | |
Qualcomm, Inc. | 114,909 | 14,829,006 | |
Silicon Laboratories, Inc. (a) | 378,139 | 39,844,506 | |
SiTime Corp. (a) | 145,835 | 16,129,351 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 123,768 | 12,043,864 | |
Teradyne, Inc. | 52,750 | 4,865,133 | |
Texas Instruments, Inc. | 97,194 | 14,842,496 | |
Wolfspeed, Inc. (a)(d) | 79,029 | 2,913,009 | |
2,127,890,433 | |||
Software - 14.9% | |||
Adobe, Inc. (a) | 174,212 | 106,445,274 | |
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | 250,984 | 564,714 | |
Atlassian Corp. PLC (a) | 6,326 | 1,207,950 | |
Autodesk, Inc. (a) | 83,242 | 18,182,550 | |
Bill Holdings, Inc. (a) | 24,400 | 1,597,468 | |
Clear Secure, Inc. | 900 | 19,197 | |
Confluent, Inc. (a) | 151,400 | 3,212,708 | |
CoreWeave, Inc. (b)(c) | 27,752 | 8,599,235 | |
Crowdstrike Holdings, Inc. (a) | 113,533 | 26,906,186 | |
Datadog, Inc. Class A (a) | 106,980 | 12,470,659 | |
Elastic NV (a) | 31,694 | 2,546,930 | |
Freshworks, Inc. (a) | 245,600 | 4,916,912 | |
HubSpot, Inc. (a) | 48,767 | 24,087,484 | |
Intuit, Inc. | 67,594 | 38,627,267 | |
Microsoft Corp. | 2,810,536 | 1,064,940,196 | |
Nutanix, Inc. Class A (a) | 3,376,341 | 145,486,534 | |
Oracle Corp. | 1,201,904 | 139,673,264 | |
Palantir Technologies, Inc. (a) | 196,300 | 3,935,815 | |
Palo Alto Networks, Inc. (a) | 84,500 | 24,935,105 | |
PTC, Inc. (a) | 5,700 | 896,952 | |
RingCentral, Inc. (a) | 29,442 | 837,919 | |
Salesforce, Inc. (a) | 965,449 | 243,196,603 | |
Samsara, Inc. (a) | 110,900 | 3,054,186 | |
SentinelOne, Inc. (a) | 31,500 | 601,335 | |
ServiceNow, Inc. (a) | 129,400 | 88,734,756 | |
Stripe, Inc. Class B (a)(b)(c) | 43,500 | 957,435 | |
UiPath, Inc. Class A (a) | 1,048,648 | 20,721,284 | |
Workday, Inc. Class A (a) | 50,232 | 13,598,807 | |
Zoom Video Communications, Inc. Class A (a) | 179,803 | 12,196,037 | |
Zscaler, Inc. (a) | 50,765 | 10,027,610 | |
2,023,178,372 | |||
Technology Hardware, Storage & Peripherals - 12.5% | |||
Apple, Inc. | 8,165,628 | 1,551,061,039 | |
Pure Storage, Inc. Class A (a) | 4,160,986 | 138,602,444 | |
Samsung Electronics Co. Ltd. | 84,703 | 4,743,915 | |
1,694,407,398 | |||
TOTAL INFORMATION TECHNOLOGY | 6,112,441,583 | ||
MATERIALS - 0.5% | |||
Chemicals - 0.2% | |||
Albemarle Corp. (d) | 44,200 | 5,360,134 | |
CF Industries Holdings, Inc. | 25,600 | 1,923,840 | |
Corteva, Inc. | 271,400 | 12,267,280 | |
Farmers Business Network, Inc. (a)(c) | 21,002 | 52,925 | |
Farmers Business Network, Inc. warrants 9/27/33 (a)(b)(c) | 468,740 | 1,176,537 | |
The Mosaic Co. | 216,100 | 7,755,829 | |
28,536,545 | |||
Metals & Mining - 0.3% | |||
Barrick Gold Corp. (Canada) (d) | 248,300 | 4,362,336 | |
Freeport-McMoRan, Inc. | 1,048,700 | 39,137,484 | |
43,499,820 | |||
TOTAL MATERIALS | 72,036,365 | ||
REAL ESTATE - 0.1% | |||
Equity Real Estate Investment Trusts (REITs) - 0.1% | |||
American Tower Corp. | 53,398 | 11,148,434 | |
Equinix, Inc. | 4,400 | 3,586,044 | |
14,734,478 | |||
TOTAL COMMON STOCKS (Cost $5,174,128,584) | 13,286,082,349 | ||
Preferred Stocks - 1.9% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 1.8% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 84,766 | 21,547,517 | |
Reddit, Inc.: | |||
Series B(a)(b)(c) | 37,935 | 1,191,538 | |
Series E(a)(b)(c) | 5,127 | 161,039 | |
Series F(a)(b)(c) | 40,428 | 1,269,843 | |
24,169,937 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 32,487 | 13,645 | |
Series C(a)(b)(c) | 127,831 | 92,038 | |
Series D(a)(b)(c) | 215,900 | 224,536 | |
330,219 | |||
Broadline Retail - 0.0% | |||
Meesho Series F (a)(b)(c) | 62,461 | 4,051,220 | |
Hotels, Restaurants & Leisure - 0.1% | |||
Discord, Inc. Series I (a)(b)(c) | 1,400 | 361,270 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(b)(c)(e) | 16,248 | 3,873,679 | |
Series 4(a)(b)(c)(e) | 1,483 | 336,122 | |
Series 5(a)(b)(c)(e) | 5,955 | 1,257,994 | |
5,829,065 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Canva, Inc.: | |||
Series A(b)(c) | 924 | 1,032,967 | |
Series A2(b)(c) | 168 | 187,812 | |
Freenome, Inc.: | |||
Series C(a)(b)(c) | 190,858 | 1,307,377 | |
Series D(a)(b)(c) | 91,538 | 661,820 | |
Laronde, Inc. Series B (a)(b)(c) | 66,432 | 1,860,096 | |
5,050,072 | |||
TOTAL CONSUMER DISCRETIONARY | 15,260,576 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 26,833 | 1,395,316 | |
Series H(a)(b)(c) | 21,372 | 1,394,523 | |
2,789,839 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(b)(c) | 338,565 | 50,785 | |
Series D(a)(b)(c) | 126,371 | 18,956 | |
Bowery Farming, Inc.: | |||
Series C1(a)(b)(c) | 27,136 | 215,731 | |
Series D1(b)(c) | 14,699 | 78,199 | |
363,671 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(b)(c) | 6,648 | 7,113 | |
TOTAL CONSUMER STAPLES | 3,160,623 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Kartos Therapeutics, Inc. Series C (b)(c) | 314,398 | 1,656,877 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(b)(c) | 198,234 | 2,111,192 | |
Series C(a)(b)(c) | 115,792 | 1,249,396 | |
Series D1(a)(b)(c) | 214,900 | 2,327,367 | |
Series D2(a)(b)(c) | 44,427 | 454,932 | |
Saluda Medical, Inc.: | |||
Series D(b)(c) | 109,988 | 1,235,165 | |
Series E(b)(c) | 289,149 | 2,249,579 | |
Tenstorrent Holdings, Inc. Series C1 (b)(c) | 40,678 | 2,277,968 | |
13,562,476 | |||
HEALTH CARE - 0.6% | |||
Biotechnology - 0.4% | |||
Altos Labs, Inc. Series B (a)(b)(c) | 122,084 | 2,103,507 | |
Ankyra Therapeutics Series B (a)(b)(c) | 257,347 | 1,019,094 | |
Asimov, Inc. Series B (a)(b)(c) | 15,783 | 661,939 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 239,403 | 392,621 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 255,590 | 840,891 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(b)(c) | 4,460 | 831,701 | |
Series D2(a)(b)(c) | 1,412 | 231,187 | |
Cleerly, Inc. Series C (a)(b)(c) | 272,438 | 2,931,433 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 129,534 | 1,207,257 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 250,956 | 3,510,874 | |
Series C(a)(b)(c) | 101,911 | 1,425,735 | |
ElevateBio LLC Series C (a)(b)(c) | 332,500 | 1,000,825 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 247,595 | 2,414,051 | |
Generate Biomedicines: | |||
Series B(a)(b)(c) | 157,390 | 1,584,917 | |
Series C(b)(c) | 97,224 | 979,046 | |
Genesis Therapeutics, Inc. Series B (b)(c) | 402,516 | 1,867,674 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 308,833 | 793,701 | |
Series E(a)(b)(c) | 222,357 | 731,555 | |
Intarcia Therapeutics, Inc. Series EE (a)(b)(c) | 116,544 | 1 | |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | 1,780,790 | 2,884,880 | |
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(a)(b)(c) | 468,023 | 2,639,650 | |
Series C(b)(c) | 215,628 | 1,080,296 | |
Quell Therapeutics Ltd. Series B (a)(b)(c) | 760,965 | 1,255,592 | |
Rapport Therapeutics, Inc. Series B (b)(c) | 1,120,773 | 1,793,237 | |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | 8,766 | 512,899 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 481,325 | 1,217,752 | |
Series B1(a)(b)(c) | 256,702 | 741,869 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 199,356 | 677,810 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 289,700 | 2,030,797 | |
Series A1(a)(b)(c) | 143,637 | 1,035,623 | |
58,392,592 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 197,068 | 9,248,401 | |
Kardium, Inc. Series D6 (a)(b)(c) | 1,136,853 | 1,057,273 | |
10,305,674 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(b)(c) | 616,102 | 511,365 | |
Series C(b)(c) | 2,572,461 | 1,620,650 | |
Conformal Medical, Inc.: | |||
Series C(a)(b)(c) | 240,750 | 960,593 | |
Series D(b)(c) | 55,260 | 256,959 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 242,077 | 321,962 | |
3,671,529 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 22,992 | 1,088,901 | |
Series E1(a)(b)(c) | 17,916 | 848,502 | |
DNA Script: | |||
Series B(a)(b)(c) | 4 | 1,102 | |
Series C(a)(b)(c) | 2,060 | 906,566 | |
Omada Health, Inc. Series E (a)(b)(c) | 435,062 | 1,688,041 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 83,544 | 127,822 | |
Series B(a)(b)(c) | 198,721 | 439,173 | |
Series C(a)(b)(c) | 66,506 | 168,925 | |
Wugen, Inc. Series B (a)(b)(c) | 96,718 | 515,507 | |
5,784,539 | |||
Pharmaceuticals - 0.0% | |||
Agomab Therapeutics SA Series C (b)(c) | 9,503 | 2,158,899 | |
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(b)(c) | 4,910 | 807,744 | |
Series C(a)(b)(c) | 2,570 | 514,257 | |
Galvanize Therapeutics Series B (a)(b)(c) | 1,018,908 | 1,416,282 | |
4,897,182 | |||
TOTAL HEALTH CARE | 83,051,516 | ||
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.3% | |||
Space Exploration Technologies Corp. Series G (a)(b)(c) | 53,937 | 43,688,970 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 10,986 | 989,179 | |
Series B, 6.00%(a)(b)(c) | 17,147 | 1,687,265 | |
2,676,444 | |||
TOTAL INDUSTRIALS | 46,365,414 | ||
INFORMATION TECHNOLOGY - 0.4% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Enevate Corp. Series E (a)(b)(c) | 814,561 | 684,231 | |
Menlo Micro, Inc. Series C (a)(b)(c) | 959,784 | 729,436 | |
VAST Data Ltd.: | |||
Series A(b)(c) | 87,399 | 961,389 | |
Series A1(b)(c) | 215,119 | 2,366,309 | |
Series A2(b)(c) | 247,456 | 2,722,016 | |
Series B(b)(c) | 196,904 | 2,165,944 | |
Series C(b)(c) | 5,740 | 63,140 | |
Series E(b)(c) | 188,154 | 4,139,388 | |
13,831,853 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(b)(c) | 43,548 | 803,461 | |
Astera Labs, Inc.: | |||
Series A(a)(b)(c) | 85,993 | 866,809 | |
Series B(a)(b)(c) | 14,642 | 147,591 | |
Series C(a)(b)(c) | 371,500 | 3,744,720 | |
Series D(a)(b)(c) | 291,891 | 2,942,261 | |
Retym, Inc. Series C (b)(c) | 202,413 | 1,550,484 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 338,113 | 2,160,542 | |
Series B1(a)(b)(c) | 22,648 | 167,595 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 167,386 | 754,911 | |
13,138,374 | |||
Software - 0.2% | |||
ASAPP, Inc. Series D (b)(c) | 437,448 | 1,128,616 | |
Bolt Technology OU Series E (a)(b)(c) | 13,569 | 1,553,198 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 53,226 | 3,912,111 | |
Series H(a)(b)(c) | 56,454 | 4,149,369 | |
Dataminr, Inc. Series D (a)(b)(c) | 442,241 | 5,704,909 | |
Evozyne, Inc.: | |||
Series A(a)(b)(c) | 101,400 | 1,485,510 | |
Series B(b)(c) | 63,838 | 986,935 | |
Skyryse, Inc. Series B (a)(b)(c) | 117,170 | 2,802,706 | |
Stripe, Inc. Series H (a)(b)(c) | 19,200 | 422,592 | |
22,145,946 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (b)(c) | 121,541 | 2,300,771 | |
TOTAL INFORMATION TECHNOLOGY | 51,416,944 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 15,988 | 40,290 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 355,446 | 10,315,043 | |
TOTAL MATERIALS | 10,355,333 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials: | |||
Series C(a)(b)(c) | 16,253 | 762,591 | |
Series D(b)(c) | 6,752 | 316,804 | |
1,079,395 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 248,422,214 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(b)(c) | 5,678,726 | 183,423 | |
Waymo LLC Series A2 (a)(b)(c) | 10,731 | 608,233 | |
791,656 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 137,221 | 2,799,308 | |
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(b)(c) | 13,511 | 2,284,440 | |
Faraday Pharmaceuticals, Inc. Series B (a)(b)(c) | 219,824 | 244,005 | |
2,528,445 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 6,119,409 | ||
TOTAL PREFERRED STOCKS (Cost $231,164,577) | 254,541,623 | ||
Corporate Bonds - 0.2% | |||
Principal Amount (g) | Value ($) | ||
Convertible Bonds - 0.2% | |||
CONSUMER DISCRETIONARY - 0.2% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27(b)(c) | 857,900 | 1,147,613 | |
4% 6/12/27(b)(c) | 25,455 | 34,051 | |
5.5% 10/29/26(b)(c)(h) | 1,461,373 | 1,454,066 | |
2,635,730 | |||
Specialty Retail - 0.2% | |||
Wayfair LLC 0.625% 10/1/25 | 19,000,000 | 16,887,200 | |
TOTAL CONSUMER DISCRETIONARY | 19,522,930 | ||
HEALTH CARE - 0.0% | |||
Health Care Equipment & Supplies - 0.0% | |||
Blink Health LLC 5% 1/15/24 (b)(c) | 3,000,000 | 3,452,700 | |
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Evozyne, Inc. 6% 9/13/28 (b)(c) | 988,851 | 997,750 | |
MATERIALS - 0.0% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. 15% 9/28/25 (b)(c) | 468,740 | 722,797 | |
TOTAL CONVERTIBLE BONDS | 24,696,177 | ||
Nonconvertible Bonds - 0.0% | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (b)(c) | 64,650 | 64,411 | |
TOTAL CORPORATE BONDS (Cost $22,828,173) | 24,760,588 | ||
Preferred Securities - 0.0% | |||
Principal Amount (g) | Value ($) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (b)(c) | 181,375 | 329,907 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Tenstorrent Holdings, Inc. 5% 11/6/25 (b)(c) | 753,700 | 761,037 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (b)(c)(i) | 614,446 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(j) | 1,612,660 | 1,475,584 | |
TOTAL HEALTH CARE | 1,475,584 | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. 6% (b)(c)(j) | 42,358 | 42,945 | |
TOTAL PREFERRED SECURITIES (Cost $3,204,539) | 2,609,473 | ||
Money Market Funds - 1.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (k) | 13,025,018 | 13,027,623 | |
Fidelity Securities Lending Cash Central Fund 5.39% (k)(l) | 212,751,168 | 212,772,443 | |
TOTAL MONEY MARKET FUNDS (Cost $225,800,066) | 225,800,066 | ||
TOTAL INVESTMENT IN SECURITIES - 101.3% (Cost $5,657,125,939) | 13,793,794,099 |
NET OTHER ASSETS (LIABILITIES) - (1.3)% | (173,422,421) |
NET ASSETS - 100.0% | 13,620,371,678 |
(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 $424,838,256 or 3.1% 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 $43,937,306 or 0.3% of net assets. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(i) | Non-income producing - Security is in default. |
(j) | Security is perpetual in nature with no stated maturity date. |
(k) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(l) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Adimab LLC | 9/17/14 - 6/05/15 | 11,583,995 |
AgBiome LLC Series C | 6/29/18 | 2,144,369 |
AgBiome LLC Series D | 9/03/21 | 749,101 |
Agomab Therapeutics SA Series C | 10/03/23 | 2,074,942 |
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 |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 64,650 |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
ASAPP, Inc. Series D | 8/29/23 | 1,689,205 |
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 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 138,881 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 935,108 |
ByteDance Ltd. Series E1 | 11/18/20 | 9,288,165 |
Canva, Inc. Series A | 9/22/23 | 985,595 |
Canva, Inc. Series A2 | 9/22/23 | 179,199 |
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 |
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 |
CoreWeave, Inc. | 11/29/23 | 8,599,235 |
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. (unlisted) | 5/03/23 | 1,376,183 |
Discord, Inc. Series I | 9/15/21 | 770,874 |
DNA Script | 12/17/21 | 327,504 |
DNA Script Series B | 12/17/21 | 3,203 |
DNA Script Series C | 10/01/21 | 1,791,891 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 3,336,950 |
Element Biosciences, Inc. Series B | 12/13/19 | 1,315,160 |
Element Biosciences, Inc. Series C | 6/21/21 | 2,094,954 |
ElevateBio LLC Series C | 3/09/21 | 1,394,838 |
Enevate Corp. Series E | 1/29/21 | 903,092 |
Enevate Corp. 6% | 11/02/23 | 42,358 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 6,785,000 |
Evozyne, Inc. Series A | 4/09/21 | 2,278,458 |
Evozyne, Inc. Series B | 9/14/23 | 988,851 |
Evozyne, Inc. 6% 9/13/28 | 9/14/23 | 988,851 |
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. warrants 9/27/33 | 9/29/23 | 0 |
Farmers Business Network, Inc. Series G | 9/15/21 | 993,779 |
Farmers Business Network, Inc. 15% 9/28/25 | 9/29/23 | 468,740 |
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 |
Generate Biomedicines Series B | 11/02/21 | 1,865,072 |
Generate Biomedicines Series C | 6/05/23 | 1,152,104 |
Genesis Therapeutics, Inc. Series B | 8/10/23 | 2,055,891 |
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 |
Intarcia Therapeutics, Inc. Series EE | 9/02/16 | 6,992,640 |
Intarcia Therapeutics, Inc. 6% | 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 |
Kartos Therapeutics, Inc. Series C | 8/22/23 | 1,777,292 |
Korro Bio, Inc. | 7/14/23 | 959,092 |
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 |
Morphimmune, Inc. | 6/29/23 | 1,918,183 |
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. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 1,461,373 |
Odyssey Therapeutics, Inc. Series B | 9/30/22 | 2,955,958 |
Odyssey Therapeutics, Inc. Series C | 10/25/23 | 1,078,140 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 181,375 |
Rapport Therapeutics, Inc. Series B | 8/11/23 | 1,879,839 |
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 |
Redwood Materials Series D | 6/02/23 | 322,313 |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 1,575,137 |
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 | 8,987,844 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 4,177,960 |
Spyre Therapeutics, Inc. | 6/22/23 | 1,426,292 |
Stripe, Inc. Class B | 5/18/21 | 1,745,585 |
Stripe, Inc. Series H | 3/15/21 | 770,400 |
Structure Therapeutics, Inc. | 9/29/23 | 939,635 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 1,150,045 |
Tango Therapeutics, Inc. | 8/09/23 | 764,780 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 2,418,540 |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 753,700 |
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 |
VAST Data Ltd. Series A | 11/28/23 | 961,389 |
VAST Data Ltd. Series A1 | 11/28/23 | 2,366,309 |
VAST Data Ltd. Series A2 | 11/28/23 | 2,722,016 |
VAST Data Ltd. Series B | 11/28/23 | 2,165,944 |
VAST Data Ltd. Series C | 11/28/23 | 63,140 |
VAST Data Ltd. Series E | 11/28/23 | 4,139,388 |
Waymo LLC Series A2 | 5/08/20 | 921,441 |
Wugen, Inc. Series B | 7/09/21 | 750,038 |
X Holdings Corp. | 10/27/21 | 1,326,759 |
Xsight Labs Ltd. Series D | 2/16/21 | 1,338,418 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 53,644,011 | 2,317,548,404 | 2,358,164,792 | 2,481,944 | - | - | 13,027,623 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 137,224,592 | 1,169,926,403 | 1,094,378,552 | 1,014,712 | - | - | 212,772,443 | 0.8% |
Total | 190,868,603 | 3,487,474,807 | 3,452,543,344 | 3,496,656 | - | - | 225,800,066 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,372,527,591 | 1,341,384,326 | - | 31,143,265 |
Consumer Discretionary | 2,658,548,495 | 2,619,961,022 | 67,639 | 38,519,834 |
Consumer Staples | 383,328,982 | 378,543,111 | 1,550,312 | 3,235,559 |
Energy | 175,171,748 | 175,171,748 | - | - |
Financials | 402,645,550 | 385,188,828 | - | 17,456,722 |
Health Care | 1,673,348,705 | 1,557,402,062 | 6,565,370 | 109,381,273 |
Industrials | 612,988,803 | 475,658,527 | 9,533,931 | 127,796,345 |
Information Technology | 6,163,858,527 | 6,101,653,685 | - | 62,204,842 |
Materials | 82,391,698 | 70,806,903 | - | 11,584,795 |
Real Estate | 14,734,478 | 14,734,478 | - | - |
Utilities | 1,079,395 | - | - | 1,079,395 |
Corporate Bonds | 24,760,588 | - | 16,887,200 | 7,873,388 |
Preferred Securities | 2,609,473 | - | - | 2,609,473 |
Money Market Funds | 225,800,066 | 225,800,066 | - | - |
Total Investments in Securities: | 13,793,794,099 | 13,346,304,756 | 34,604,452 | 412,884,891 |
Investments in Securities: | |||
Beginning Balance | $ | 410,815,084 | |
Net Realized Gain (Loss) on Investment Securities | 25,263,874 | ||
Net Unrealized Gain (Loss) on Investment Securities | (33,849,170) | ||
Cost of Purchases | 46,878,339 | ||
Proceeds of Sales | (38,428,336) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 6,755,570 | ||
Transfers out of Level 3 | (4,550,470) | ||
Ending Balance | $ | 412,884,891 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (35,431,502) | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $206,082,747) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,431,325,873) | $ | 13,567,994,033 | ||
Fidelity Central Funds (cost $225,800,066) | 225,800,066 | |||
Total Investment in Securities (cost $5,657,125,939) | $ | 13,793,794,099 | ||
Cash | 16,564 | |||
Restricted cash | 158,441 | |||
Foreign currency held at value (cost $25,941) | 27,862 | |||
Receivable for investments sold | 500,641,593 | |||
Receivable for fund shares sold | 2,093,418 | |||
Dividends receivable | 6,808,867 | |||
Interest receivable | 385,209 | |||
Distributions receivable from Fidelity Central Funds | 292,933 | |||
Other receivables | 96 | |||
Total assets | 14,304,219,082 | |||
Liabilities | ||||
Payable for investments purchased | $ | 4,141,421 | ||
Payable for fund shares redeemed | 466,374,157 | |||
Other payables and accrued expenses | 569,770 | |||
Collateral on securities loaned | 212,762,056 | |||
Total Liabilities | 683,847,404 | |||
Net Assets | $ | 13,620,371,678 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,114,825,516 | ||
Total accumulated earnings (loss) | 8,505,546,162 | |||
Net Assets | $ | 13,620,371,678 | ||
Net Asset Value, offering price and redemption price per share ($13,620,371,678 ÷ 718,946,436 shares) | $ | 18.94 |
Consolidated Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 66,603,329 | ||
Interest | 1,673,106 | |||
Income from Fidelity Central Funds (including $1,014,712 from security lending) | 3,496,656 | |||
Total Income | 71,773,091 | |||
Expenses | ||||
Custodian fees and expenses | $ | 241,665 | ||
Independent trustees' fees and expenses | 74,615 | |||
Interest | 218,645 | |||
Miscellaneous | 28 | |||
Total expenses before reductions | 534,953 | |||
Expense reductions | (3,546) | |||
Total expenses after reductions | 531,407 | |||
Net Investment income (loss) | 71,241,684 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $972,306) | 526,727,463 | |||
Foreign currency transactions | 14,159 | |||
Futures contracts | 1,137,663 | |||
Total net realized gain (loss) | 527,879,285 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $905,970) | 2,617,532,337 | |||
Assets and liabilities in foreign currencies | (5,830) | |||
Futures contracts | (202,903) | |||
Total change in net unrealized appreciation (depreciation) | 2,617,323,604 | |||
Net gain (loss) | 3,145,202,889 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,216,444,573 |
Consolidated Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 71,241,684 | $ | 72,635,984 |
Net realized gain (loss) | 527,879,285 | (141,822,120) | ||
Change in net unrealized appreciation (depreciation) | 2,617,323,604 | (3,990,673,968) | ||
Net increase (decrease) in net assets resulting from operations | 3,216,444,573 | (4,059,860,104) | ||
Distributions to shareholders | (69,434,650) | (3,620,786,672) | ||
Share transactions | ||||
Proceeds from sales of shares | 2,095,918,360 | 5,783,530,379 | ||
Reinvestment of distributions | 69,434,650 | 3,620,786,672 | ||
Cost of shares redeemed | (4,239,646,756) | (2,354,119,124) | ||
Net increase (decrease) in net assets resulting from share transactions | (2,074,293,746) | 7,050,197,927 | ||
Total increase (decrease) in net assets | 1,072,716,177 | (630,448,849) | ||
Net Assets | ||||
Beginning of period | 12,547,655,501 | 13,178,104,350 | ||
End of period | $ | 13,620,371,678 | $ | 12,547,655,501 |
Other Information | ||||
Shares | ||||
Sold | 132,379,538 | 351,665,953 | ||
Issued in reinvestment of distributions | 4,752,543 | 176,279,780 | ||
Redeemed | (249,607,547) | (146,981,386) | ||
Net increase (decrease) | (112,475,466) | 380,964,347 | ||
Fidelity® Series Growth Company Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 15.09 | $ | 29.25 | $ | 29.01 | $ | 19.16 | $ | 17.61 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .09 | .10 | .10 C | .09 | .11 | |||||
Net realized and unrealized gain (loss) | 3.84 | (6.37) | 7.43 | 11.72 | 3.31 | |||||
Total from investment operations | 3.93 | (6.27) | 7.53 | 11.81 | 3.42 | |||||
Distributions from net investment income | (.08) | (.12) | (.16) | (.13) | (.15) | |||||
Distributions from net realized gain | - | (7.77) | (7.13) | (1.84) | (1.72) | |||||
Total distributions | (.08) | (7.89) | (7.29) | (1.96) D | (1.87) | |||||
Net asset value, end of period | $ | 18.94 | $ | 15.09 | $ | 29.25 | $ | 29.01 | $ | 19.16 |
Total Return E | 26.24% | (28.60)% | 33.42% | 68.41% | 23.24% | |||||
Ratios to Average Net Assets B,F,G | ||||||||||
Expenses before reductions H | -% | -% | -% | -% | -% | |||||
Expenses net of fee waivers, if any H | -% | -% | -% | -% | -% | |||||
Expenses net of all reductions H | -% | -% | -% | -% | -% | |||||
Net investment income (loss) | .54% | .60% | .40% C | .41% | .64% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 13,620,372 | $ | 12,547,656 | $ | 13,178,104 | $ | 12,836,920 | $ | 11,173,659 |
Portfolio turnover rate I | 21% | 29% | 34% | 18% | 19% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $402,402,030 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.5 - 13.5 / 12.2 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.1 - 21.6 / 6.7 | Increase | |||
Market approach | Transaction price | $0.70 - $309.86 / $55.33 | Increase | ||
Discount rate | 5.0% - 65.0% / 21.6% | Decrease | |||
Premium rate | 10.0% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Discount rate | 5.3% - 75.0% / 19.6% | Decrease | ||
Term | 1.1 - 8.3 / 2.8 | Increase | |||
Weighted average cost of capital (WACC) | 43.5% | Decrease | |||
Probability rate | 6.0% - 70.0% / 37.5% | Increase | |||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.2% - 5.1% / 4.7% | Increase | ||
Volatility | 45.0% - 100.0% / 74.9% | Increase | |||
Term | 1.5 - 5.0 / 2.9 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.21 / $0.03 | Increase | ||
Book value | Book value multiple | 1.9 | Increase | ||
Corporate Bonds | $7,873,388 | Market comparable | Discount rate | 21.7% - 29.2% / 23.9% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 1.4 - 4.8 / 3.6 | Increase | |||
Probability rate | 10.0% - 75.0% / 43.5% | Increase | |||
Market approach | Transaction price | $100.00 | Increase | ||
Discount rate | 20.2% | Decrease | |||
Probability rate | 10.0% - 70.0% / 33.3% | Increase | |||
Discounted cash flow | Discount rate | 4.1% | Decrease | ||
Black scholes | Discount rate | 4.6% | Increase | ||
Volatility | 50.0% - 75.0% / 59.5% | Increase | |||
Term | 0.1 - 3.0 / 0.9 | Increase | |||
Preferred Securities | $2,609,473 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.5 | Increase |
Market approach | Transaction price | $1.10 - $100.00 / $98.14 | Increase | ||
Discount rate | 10.0% - 30.0% / 16.1% | Decrease | |||
Probability rate | 10.0% - 60.0% / 33.3% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Black scholes | Discount rate | 4.6% - 5.1% / 4.9% | Increase | ||
Volatility | 60.0% - 100.0% / 69.2% | Increase | |||
Term | 1.5 - 3.0 / 2.5 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Gross unrealized appreciation | $8,570,805,975 |
Gross unrealized depreciation | (496,204,085) |
Net unrealized appreciation (depreciation) | $8,074,601,890 |
Tax Cost | $5,719,192,209 |
Undistributed ordinary income | $66,424,180 |
Undistributed long-term capital gain | $365,001,708 |
Net unrealized appreciation (depreciation) on securities and other investments | $8,074,590,922 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $69,434,650 | $ 373,646,089 |
Long-term Capital Gains | - | 3,247,140,583 |
Total | $69,434,650 | $ 3,620,786,672 |
$ Amount | % of Net Assets | |
Fidelity Series Growth Company Fund | 32,685,364 | .24 |
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 | 2,759,762,465 | 4,747,443,442 |
Amount | |
Fidelity Series Growth Company Fund | $ 82,344 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Series Growth Company Fund | Borrower | $ 73,509,750 | 5.35% | $ 218,645 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Series Growth Company Fund | 359,618,182 | 286,435,596 | 40,763,850 |
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 | $106,415 | $45,859 | $697,069 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Series Growth Company Fund | .01% | |||||||||
Actual | $ 1,000 | $ 1,105.00 | $ .05 | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.02 | $ .05 | |||||||
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
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Life of Fund A |
Fidelity® Growth Strategies K6 Fund | 7.27% | 10.80% | 10.14% |
$10,000 Over Life of Fund |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Strategies K6 Fund, on May 25, 2017, when the fund started. The chart shows how the value of your investment would have changed, and also shows how the Russell Midcap® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Cardinal Health, Inc. | 3.0 | |
Apollo Global Management, Inc. | 2.7 | |
Old Dominion Freight Lines, Inc. | 2.5 | |
Copart, Inc. | 2.5 | |
MSCI, Inc. | 2.3 | |
Molina Healthcare, Inc. | 2.3 | |
W.W. Grainger, Inc. | 2.2 | |
ResMed, Inc. | 2.2 | |
Cheniere Energy, Inc. | 2.2 | |
Gartner, Inc. | 2.2 | |
24.1 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 25.7 | |
Information Technology | 20.2 | |
Health Care | 18.7 | |
Financials | 10.2 | |
Consumer Discretionary | 9.5 | |
Energy | 5.6 | |
Communication Services | 3.5 | |
Materials | 1.8 | |
Consumer Staples | 1.7 | |
Utilities | 0.6 | |
Real Estate | 0.5 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 3.5% | |||
Entertainment - 0.1% | |||
Sea Ltd. ADR (a) | 2,200 | 79,684 | |
Interactive Media & Services - 1.8% | |||
Pinterest, Inc. Class A (a) | 63,600 | 2,166,852 | |
Zoominfo Technologies, Inc. (a) | 47,800 | 686,886 | |
2,853,738 | |||
Media - 1.6% | |||
The Trade Desk, Inc. (a) | 35,800 | 2,522,468 | |
TOTAL COMMUNICATION SERVICES | 5,455,890 | ||
CONSUMER DISCRETIONARY - 9.5% | |||
Distributors - 0.4% | |||
Pool Corp. | 1,685 | 585,234 | |
Diversified Consumer Services - 0.6% | |||
Duolingo, Inc. (a) | 4,300 | 912,847 | |
Hotels, Restaurants & Leisure - 1.9% | |||
Cava Group, Inc. | 300 | 10,203 | |
Chipotle Mexican Grill, Inc. (a) | 370 | 814,833 | |
Choice Hotels International, Inc. (b) | 1,800 | 198,504 | |
Domino's Pizza, Inc. | 3,000 | 1,178,670 | |
Dutch Bros, Inc. (a) | 8,500 | 227,205 | |
Wyndham Hotels & Resorts, Inc. | 3,300 | 255,222 | |
Yum! Brands, Inc. | 2,100 | 263,655 | |
2,948,292 | |||
Household Durables - 2.6% | |||
Lennar Corp. Class A | 5,900 | 754,728 | |
NVR, Inc. (a) | 115 | 707,870 | |
PulteGroup, Inc. | 21,100 | 1,865,662 | |
TopBuild Corp. (a) | 2,900 | 857,762 | |
4,186,022 | |||
Specialty Retail - 3.9% | |||
AutoZone, Inc. (a) | 700 | 1,826,951 | |
Dick's Sporting Goods, Inc. | 7,800 | 1,014,780 | |
Murphy U.S.A., Inc. | 4,000 | 1,478,200 | |
O'Reilly Automotive, Inc. (a) | 1,600 | 1,571,808 | |
Tractor Supply Co. | 1,200 | 243,612 | |
6,135,351 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Deckers Outdoor Corp. (a) | 304 | 201,847 | |
TOTAL CONSUMER DISCRETIONARY | 14,969,593 | ||
CONSUMER STAPLES - 1.7% | |||
Beverages - 0.4% | |||
Brown-Forman Corp. Class B (non-vtg.) | 10,378 | 609,604 | |
Celsius Holdings, Inc. (a) | 2,400 | 118,824 | |
728,428 | |||
Consumer Staples Distribution & Retail - 1.0% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 24,500 | 1,582,210 | |
Food Products - 0.3% | |||
Bunge Global SA | 3,900 | 428,493 | |
TOTAL CONSUMER STAPLES | 2,739,131 | ||
ENERGY - 5.6% | |||
Energy Equipment & Services - 0.9% | |||
TechnipFMC PLC | 64,600 | 1,338,512 | |
Oil, Gas & Consumable Fuels - 4.7% | |||
APA Corp. | 44,300 | 1,594,800 | |
Cheniere Energy, Inc. | 19,300 | 3,515,495 | |
Hess Corp. | 13,700 | 1,925,672 | |
Valero Energy Corp. | 3,000 | 376,080 | |
7,412,047 | |||
TOTAL ENERGY | 8,750,559 | ||
FINANCIALS - 10.2% | |||
Capital Markets - 5.8% | |||
Ameriprise Financial, Inc. | 7,700 | 2,722,027 | |
Ares Management Corp. | 11,100 | 1,245,975 | |
LPL Financial | 3,900 | 866,970 | |
MSCI, Inc. | 6,900 | 3,593,865 | |
Tradeweb Markets, Inc. Class A | 7,600 | 736,440 | |
9,165,277 | |||
Financial Services - 2.7% | |||
Apollo Global Management, Inc. | 45,600 | 4,195,200 | |
Insurance - 1.7% | |||
Arthur J. Gallagher & Co. | 7,300 | 1,817,700 | |
Globe Life, Inc. | 4,000 | 492,520 | |
Kinsale Capital Group, Inc. | 1,200 | 420,120 | |
2,730,340 | |||
TOTAL FINANCIALS | 16,090,817 | ||
HEALTH CARE - 18.7% | |||
Biotechnology - 0.2% | |||
Moderna, Inc. (a) | 4,331 | 336,519 | |
Health Care Equipment & Supplies - 7.3% | |||
DexCom, Inc. (a) | 28,500 | 3,292,320 | |
Haemonetics Corp. (a) | 11,400 | 921,918 | |
IDEXX Laboratories, Inc. (a) | 900 | 419,238 | |
Insulet Corp. (a) | 12,200 | 2,306,898 | |
Masimo Corp. (a) | 5,100 | 478,176 | |
Penumbra, Inc. (a) | 1,100 | 244,299 | |
ResMed, Inc. | 22,400 | 3,533,152 | |
Shockwave Medical, Inc. (a) | 1,800 | 314,190 | |
11,510,191 | |||
Health Care Providers & Services - 6.0% | |||
Cardinal Health, Inc. | 43,900 | 4,700,809 | |
Centene Corp. (a) | 16,400 | 1,208,352 | |
Molina Healthcare, Inc. (a) | 9,800 | 3,582,488 | |
9,491,649 | |||
Health Care Technology - 0.8% | |||
Veeva Systems, Inc. Class A (a) | 7,200 | 1,255,032 | |
Life Sciences Tools & Services - 4.4% | |||
Charles River Laboratories International, Inc. (a) | 7,800 | 1,537,224 | |
Mettler-Toledo International, Inc. (a) | 2,800 | 3,057,404 | |
West Pharmaceutical Services, Inc. | 6,700 | 2,350,092 | |
6,944,720 | |||
TOTAL HEALTH CARE | 29,538,111 | ||
INDUSTRIALS - 25.7% | |||
Aerospace & Defense - 2.7% | |||
Howmet Aerospace, Inc. | 22,700 | 1,194,020 | |
TransDigm Group, Inc. | 3,200 | 3,081,184 | |
4,275,204 | |||
Building Products - 2.7% | |||
Carrier Global Corp. | 37,500 | 1,948,500 | |
Trane Technologies PLC | 10,000 | 2,254,100 | |
4,202,600 | |||
Commercial Services & Supplies - 5.1% | |||
Cintas Corp. | 6,050 | 3,347,163 | |
Copart, Inc. | 77,200 | 3,876,984 | |
GFL Environmental, Inc. | 18,379 | 527,477 | |
Tetra Tech, Inc. | 1,700 | 268,855 | |
8,020,479 | |||
Construction & Engineering - 2.5% | |||
EMCOR Group, Inc. | 6,101 | 1,296,585 | |
Quanta Services, Inc. | 14,400 | 2,711,664 | |
4,008,249 | |||
Electrical Equipment - 2.9% | |||
AMETEK, Inc. | 7,800 | 1,210,794 | |
Atkore, Inc. (a) | 9,000 | 1,169,100 | |
nVent Electric PLC | 18,300 | 974,475 | |
Vertiv Holdings Co. | 28,700 | 1,253,042 | |
4,607,411 | |||
Ground Transportation - 3.0% | |||
Old Dominion Freight Lines, Inc. | 10,200 | 3,968,412 | |
Saia, Inc. (a) | 1,900 | 741,741 | |
4,710,153 | |||
Machinery - 2.6% | |||
IDEX Corp. | 1,300 | 262,184 | |
PACCAR, Inc. | 12,500 | 1,147,750 | |
Parker Hannifin Corp. | 4,500 | 1,949,310 | |
Toro Co. | 8,400 | 697,200 | |
4,056,444 | |||
Professional Services - 2.0% | |||
Booz Allen Hamilton Holding Corp. Class A | 3,970 | 496,766 | |
Verisk Analytics, Inc. | 10,900 | 2,631,587 | |
3,128,353 | |||
Trading Companies & Distributors - 2.2% | |||
W.W. Grainger, Inc. | 4,500 | 3,537,855 | |
TOTAL INDUSTRIALS | 40,546,748 | ||
INFORMATION TECHNOLOGY - 20.2% | |||
Electronic Equipment, Instruments & Components - 3.0% | |||
Amphenol Corp. Class A | 29,300 | 2,666,007 | |
Keysight Technologies, Inc. (a) | 7,300 | 991,997 | |
Vontier Corp. | 33,200 | 1,119,836 | |
4,777,840 | |||
IT Services - 3.9% | |||
EPAM Systems, Inc. (a) | 4,300 | 1,110,217 | |
Gartner, Inc. (a) | 8,000 | 3,478,720 | |
MongoDB, Inc. Class A (a) | 1,600 | 665,184 | |
Twilio, Inc. Class A (a) | 12,700 | 821,436 | |
6,075,557 | |||
Semiconductors & Semiconductor Equipment - 6.2% | |||
Broadcom, Inc. | 400 | 370,292 | |
KLA Corp. | 700 | 381,234 | |
Lam Research Corp. | 500 | 357,960 | |
Lattice Semiconductor Corp. (a) | 35,600 | 2,084,380 | |
Monolithic Power Systems, Inc. | 3,500 | 1,920,520 | |
NXP Semiconductors NV | 2,414 | 492,649 | |
ON Semiconductor Corp. (a) | 45,900 | 3,274,047 | |
SolarEdge Technologies, Inc. (a) | 12,300 | 976,374 | |
9,857,456 | |||
Software - 7.1% | |||
Atlassian Corp. PLC (a) | 1,509 | 288,144 | |
Autodesk, Inc. (a) | 1,911 | 417,420 | |
Cadence Design Systems, Inc. (a) | 3,200 | 874,464 | |
Crowdstrike Holdings, Inc. (a) | 10,600 | 2,512,094 | |
Dynatrace, Inc. (a) | 29,000 | 1,552,950 | |
Fortinet, Inc. (a) | 22,535 | 1,184,440 | |
HubSpot, Inc. (a) | 3,900 | 1,926,327 | |
Intuit, Inc. | 600 | 342,876 | |
Roper Technologies, Inc. | 816 | 439,212 | |
Synopsys, Inc. (a) | 1,700 | 923,491 | |
Zoom Video Communications, Inc. Class A (a) | 10,900 | 739,347 | |
11,200,765 | |||
TOTAL INFORMATION TECHNOLOGY | 31,911,618 | ||
MATERIALS - 1.8% | |||
Construction Materials - 0.6% | |||
CRH PLC | 14,600 | 916,150 | |
Metals & Mining - 1.2% | |||
Steel Dynamics, Inc. | 16,500 | 1,965,645 | |
TOTAL MATERIALS | 2,881,795 | ||
REAL ESTATE - 0.5% | |||
Equity Real Estate Investment Trusts (REITs) - 0.5% | |||
Iron Mountain, Inc. | 12,000 | 769,800 | |
UTILITIES - 0.6% | |||
Independent Power and Renewable Electricity Producers - 0.6% | |||
Vistra Corp. | 25,000 | 885,250 | |
TOTAL COMMON STOCKS (Cost $109,180,106) | 154,539,312 | ||
Money Market Funds - 2.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) | 3,535,476 | 3,536,183 | |
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) | 56,244 | 56,250 | |
TOTAL MONEY MARKET FUNDS (Cost $3,592,433) | 3,592,433 | ||
TOTAL INVESTMENT IN SECURITIES - 100.3% (Cost $112,772,539) | 158,131,745 |
NET OTHER ASSETS (LIABILITIES) - (0.3)% | (413,237) |
NET ASSETS - 100.0% | 157,718,508 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 2,816,993 | 67,171,467 | 66,452,277 | 157,115 | - | - | 3,536,183 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 1,108,800 | 19,809,934 | 20,862,484 | 8,759 | - | - | 56,250 | 0.0% |
Total | 3,925,793 | 86,981,401 | 87,314,761 | 165,874 | - | - | 3,592,433 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 5,455,890 | 5,455,890 | - | - |
Consumer Discretionary | 14,969,593 | 14,969,593 | - | - |
Consumer Staples | 2,739,131 | 2,739,131 | - | - |
Energy | 8,750,559 | 8,750,559 | - | - |
Financials | 16,090,817 | 16,090,817 | - | - |
Health Care | 29,538,111 | 29,538,111 | - | - |
Industrials | 40,546,748 | 40,546,748 | - | - |
Information Technology | 31,911,618 | 31,911,618 | - | - |
Materials | 2,881,795 | 2,881,795 | - | - |
Real Estate | 769,800 | 769,800 | - | - |
Utilities | 885,250 | 885,250 | - | - |
Money Market Funds | 3,592,433 | 3,592,433 | - | - |
Total Investments in Securities: | 158,131,745 | 158,131,745 | - | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $55,140) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $109,180,106) | $ | 154,539,312 | ||
Fidelity Central Funds (cost $3,592,433) | 3,592,433 | |||
Total Investment in Securities (cost $112,772,539) | $ | 158,131,745 | ||
Cash | 2,950 | |||
Receivable for fund shares sold | 169,624 | |||
Dividends receivable | 67,938 | |||
Distributions receivable from Fidelity Central Funds | 16,776 | |||
Total assets | 158,389,033 | |||
Liabilities | ||||
Payable for investments purchased | $ | 447,567 | ||
Payable for fund shares redeemed | 109,902 | |||
Accrued management fee | 56,806 | |||
Collateral on securities loaned | 56,250 | |||
Total Liabilities | 670,525 | |||
Net Assets | $ | 157,718,508 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 110,531,332 | ||
Total accumulated earnings (loss) | 47,187,176 | |||
Net Assets | $ | 157,718,508 | ||
Net Asset Value, offering price and redemption price per share ($157,718,508 ÷ 11,071,412 shares) | $ | 14.25 |
Statement of Operations | ||||
Year ended November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 923,590 | ||
Special dividends | 112,000 | |||
Income from Fidelity Central Funds (including $8,759 from security lending) | 165,874 | |||
Total Income | 1,201,464 | |||
Expenses | ||||
Management fee | $ | 617,626 | ||
Independent trustees' fees and expenses | 788 | |||
Total expenses before reductions | 618,414 | |||
Expense reductions | (121) | |||
Total expenses after reductions | 618,293 | |||
Net Investment income (loss) | 583,171 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 11,250,995 | |||
Foreign currency transactions | 6 | |||
Total net realized gain (loss) | 11,251,001 | |||
Change in net unrealized appreciation (depreciation) on investment securities | (1,798,325) | |||
Net gain (loss) | 9,452,676 | |||
Net increase (decrease) in net assets resulting from operations | $ | 10,035,847 |
Statement of Changes in Net Assets | ||||
Year ended November 30, 2023 | Year ended November 30, 2022 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 583,171 | $ | 294,767 |
Net realized gain (loss) | 11,251,001 | (9,951,615) | ||
Change in net unrealized appreciation (depreciation) | (1,798,325) | (23,147,836) | ||
Net increase (decrease) in net assets resulting from operations | 10,035,847 | (32,804,684) | ||
Distributions to shareholders | (324,034) | (34,673,946) | ||
Share transactions | ||||
Proceeds from sales of shares | 42,155,737 | 35,472,984 | ||
Reinvestment of distributions | 324,034 | 34,673,946 | ||
Cost of shares redeemed | (25,802,546) | (28,706,740) | ||
Net increase (decrease) in net assets resulting from share transactions | 16,677,225 | 41,440,190 | ||
Total increase (decrease) in net assets | 26,389,038 | (26,038,440) | ||
Net Assets | ||||
Beginning of period | 131,329,470 | 157,367,910 | ||
End of period | $ | 157,718,508 | $ | 131,329,470 |
Other Information | ||||
Shares | ||||
Sold | 3,093,383 | 2,415,188 | ||
Issued in reinvestment of distributions | 26,069 | 2,051,713 | ||
Redeemed | (1,906,516) | (2,139,490) | ||
Net increase (decrease) | 1,212,936 | 2,327,411 | ||
Fidelity® Growth Strategies K6 Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.32 | $ | 20.90 | $ | 17.06 | $ | 13.69 | $ | 11.21 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .06 C | .03 | (.01) | .04 D | .06 E | |||||
Net realized and unrealized gain (loss) | .90 | (3.21) | 4.29 | 3.40 | 2.51 | |||||
Total from investment operations | .96 | (3.18) | 4.28 | 3.44 | 2.57 | |||||
Distributions from net investment income | (.03) | - | (.02) | (.07) | (.09) | |||||
Distributions from net realized gain | - | (4.40) | (.42) | - | - | |||||
Total distributions | (.03) | (4.40) | (.44) | (.07) | (.09) | |||||
Net asset value, end of period | $ | 14.25 | $ | 13.32 | $ | 20.90 | $ | 17.06 | $ | 13.69 |
Total Return F | 7.27% | (19.67)% | 25.64% | 25.24% | 23.18% | |||||
Ratios to Average Net Assets A,G,H | ||||||||||
Expenses before reductions | .45% | .45% | .45% | .45% | .45% | |||||
Expenses net of fee waivers, if any | .45% | .45% | .45% | .45% | .45% | |||||
Expenses net of all reductions | .45% | .45% | .45% | .45% | .45% | |||||
Net investment income (loss) | .42% C | .22% | (.06)% | .25% D | .49% E | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 157,719 | $ | 131,329 | $ | 157,368 | $ | 182,192 | $ | 165,691 |
Portfolio turnover rate J | 86% K | 78% K | 51% | 73% | 66% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 | $46,566,746 |
Gross unrealized depreciation | (1,675,790) |
Net unrealized appreciation (depreciation) | $44,890,956 |
Tax Cost | $113,240,789 |
Undistributed ordinary income | $534,720 |
Undistributed long-term capital gain | $1,761,501 |
Net unrealized appreciation (depreciation) on securities and other investments | $44,890,956 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $324,034 | $2,733,892 |
Long-term Capital Gains | - | 31,940,054 |
Total | $324,034 | $34,673,946 |
Purchases ($) | Sales ($) | |
Fidelity Growth Strategies K6 Fund | 133,370,811 | 115,540,230 |
Shares | Total Proceeds ($) | |
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 | $1,008 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Strategies K6 Fund | 5,382,798 | 2,723,235 | (172,459) |
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 | $938 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Growth Strategies K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,077.90 | $ 2.34 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.81 | $ 2.28 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 15.3 | |
NVIDIA Corp. | 6.7 | |
Amazon.com, Inc. | 5.0 | |
Alphabet, Inc. Class A | 4.9 | |
Apple, Inc. | 4.5 | |
Uber Technologies, Inc. | 4.4 | |
Eli Lilly & Co. | 2.4 | |
Boston Scientific Corp. | 2.3 | |
Netflix, Inc. | 1.9 | |
Universal Music Group NV | 1.9 | |
49.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 39.9 | |
Health Care | 15.4 | |
Industrials | 13.4 | |
Consumer Discretionary | 10.8 | |
Communication Services | 9.9 | |
Financials | 5.0 | |
Energy | 4.0 | |
Consumer Staples | 1.3 | |
Materials | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.9% | |||
Entertainment - 5.0% | |||
Netflix, Inc. (a) | 88 | 41,709 | |
Universal Music Group NV | 1,551 | 40,979 | |
Warner Music Group Corp. Class A | 759 | 25,130 | |
107,818 | |||
Interactive Media & Services - 4.9% | |||
Alphabet, Inc. Class A (a) | 782 | 103,638 | |
TOTAL COMMUNICATION SERVICES | 211,456 | ||
CONSUMER DISCRETIONARY - 10.8% | |||
Automobiles - 0.4% | |||
BYD Co. Ltd. (H Shares) | 295 | 7,929 | |
Broadline Retail - 6.3% | |||
Amazon.com, Inc. (a) | 739 | 107,961 | |
MercadoLibre, Inc. (a) | 15 | 24,307 | |
Savers Value Village, Inc. | 196 | 2,950 | |
135,218 | |||
Hotels, Restaurants & Leisure - 2.0% | |||
Airbnb, Inc. Class A (a) | 119 | 15,034 | |
Booking Holdings, Inc. (a) | 4 | 12,503 | |
Flutter Entertainment PLC (a) | 85 | 13,274 | |
Kura Sushi U.S.A., Inc. Class A (a) | 32 | 1,999 | |
42,810 | |||
Specialty Retail - 1.1% | |||
TJX Companies, Inc. | 255 | 22,468 | |
Textiles, Apparel & Luxury Goods - 1.0% | |||
LVMH Moet Hennessy Louis Vuitton SE | 15 | 11,473 | |
Samsonite International SA (a)(b) | 3,716 | 10,846 | |
22,319 | |||
TOTAL CONSUMER DISCRETIONARY | 230,744 | ||
CONSUMER STAPLES - 1.3% | |||
Beverages - 0.9% | |||
Monster Beverage Corp. | 339 | 18,696 | |
Personal Care Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 65 | 8,300 | |
TOTAL CONSUMER STAPLES | 26,996 | ||
ENERGY - 4.0% | |||
Energy Equipment & Services - 0.5% | |||
Baker Hughes Co. Class A | 318 | 10,733 | |
Oil, Gas & Consumable Fuels - 3.5% | |||
Cheniere Energy, Inc. | 193 | 35,155 | |
New Fortress Energy, Inc. | 135 | 5,195 | |
Range Resources Corp. | 351 | 11,408 | |
Reliance Industries Ltd. GDR (b) | 363 | 20,800 | |
Southwestern Energy Co. (a) | 486 | 3,203 | |
75,761 | |||
TOTAL ENERGY | 86,494 | ||
FINANCIALS - 5.0% | |||
Capital Markets - 1.3% | |||
Ares Management Corp. | 40 | 4,490 | |
CME Group, Inc. | 113 | 24,675 | |
29,165 | |||
Financial Services - 2.6% | |||
Apollo Global Management, Inc. | 23 | 2,116 | |
Corebridge Financial, Inc. | 217 | 4,564 | |
Fiserv, Inc. (a) | 34 | 4,441 | |
Global Payments, Inc. | 45 | 5,240 | |
MasterCard, Inc. Class A | 96 | 39,728 | |
56,089 | |||
Insurance - 1.1% | |||
Arthur J. Gallagher & Co. | 78 | 19,422 | |
BRP Group, Inc. (a) | 190 | 3,323 | |
22,745 | |||
TOTAL FINANCIALS | 107,999 | ||
HEALTH CARE - 15.4% | |||
Biotechnology - 4.1% | |||
Alnylam Pharmaceuticals, Inc. (a) | 78 | 13,124 | |
Arcellx, Inc. (a) | 18 | 946 | |
Arrowhead Pharmaceuticals, Inc. (a) | 31 | 657 | |
Beam Therapeutics, Inc. (a) | 22 | 618 | |
BioMarin Pharmaceutical, Inc. (a) | 43 | 3,916 | |
Blueprint Medicines Corp. (a) | 12 | 836 | |
Cerevel Therapeutics Holdings (a) | 28 | 726 | |
Cytokinetics, Inc. (a) | 66 | 2,210 | |
Galapagos NV sponsored ADR (a) | 113 | 4,230 | |
Gamida Cell Ltd. (a) | 297 | 92 | |
Hookipa Pharma, Inc. (a) | 142 | 81 | |
Immunocore Holdings PLC ADR (a) | 50 | 2,637 | |
Insmed, Inc. (a) | 178 | 4,454 | |
Legend Biotech Corp. ADR (a) | 43 | 2,615 | |
Regeneron Pharmaceuticals, Inc. (a) | 22 | 18,124 | |
Repligen Corp. (a) | 49 | 7,705 | |
Sarepta Therapeutics, Inc. (a) | 17 | 1,382 | |
Vertex Pharmaceuticals, Inc. (a) | 64 | 22,708 | |
Vor Biopharma, Inc. (a) | 75 | 139 | |
XOMA Corp. (a) | 86 | 1,276 | |
88,476 | |||
Health Care Equipment & Supplies - 3.4% | |||
Axonics Modulation Technologies, Inc. (a) | 77 | 4,311 | |
Boston Scientific Corp. (a) | 864 | 48,289 | |
Inspire Medical Systems, Inc. (a) | 19 | 2,761 | |
Lantheus Holdings, Inc. (a) | 22 | 1,576 | |
Masimo Corp. (a) | 135 | 12,658 | |
Penumbra, Inc. (a) | 14 | 3,109 | |
72,704 | |||
Health Care Providers & Services - 2.6% | |||
HealthEquity, Inc. (a) | 297 | 19,905 | |
UnitedHealth Group, Inc. | 64 | 35,390 | |
55,295 | |||
Life Sciences Tools & Services - 2.4% | |||
Agilent Technologies, Inc. | 17 | 2,173 | |
Bio-Techne Corp. | 67 | 4,214 | |
Bruker Corp. | 139 | 9,048 | |
Chemometec A/S | 13 | 651 | |
Codexis, Inc. (a) | 358 | 845 | |
Danaher Corp. | 61 | 13,622 | |
Sartorius Stedim Biotech | 29 | 6,515 | |
Thermo Fisher Scientific, Inc. | 29 | 14,377 | |
51,445 | |||
Pharmaceuticals - 2.9% | |||
Aclaris Therapeutics, Inc. (a) | 23 | 20 | |
AstraZeneca PLC sponsored ADR | 169 | 10,916 | |
Eli Lilly & Co. | 89 | 52,603 | |
63,539 | |||
TOTAL HEALTH CARE | 331,459 | ||
INDUSTRIALS - 13.4% | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 13 | 1,004 | |
Electrical Equipment - 1.2% | |||
Eaton Corp. PLC | 117 | 26,640 | |
Ground Transportation - 4.4% | |||
Uber Technologies, Inc. (a) | 1,663 | 93,760 | |
Industrial Conglomerates - 1.6% | |||
General Electric Co. | 276 | 33,617 | |
Machinery - 2.1% | |||
Energy Recovery, Inc. (a) | 85 | 1,620 | |
Ingersoll Rand, Inc. | 319 | 22,786 | |
Parker Hannifin Corp. | 34 | 14,728 | |
Westinghouse Air Brake Tech Co. | 52 | 6,061 | |
45,195 | |||
Passenger Airlines - 0.5% | |||
Ryanair Holdings PLC sponsored ADR (a) | 101 | 11,940 | |
Professional Services - 2.7% | |||
Equifax, Inc. | 138 | 30,044 | |
KBR, Inc. | 378 | 19,531 | |
TransUnion Holding Co., Inc. | 127 | 7,457 | |
57,032 | |||
Trading Companies & Distributors - 0.9% | |||
Ferguson PLC | 115 | 19,425 | |
TOTAL INDUSTRIALS | 288,613 | ||
INFORMATION TECHNOLOGY - 39.9% | |||
Electronic Equipment, Instruments & Components - 1.1% | |||
Flex Ltd. (a) | 380 | 9,671 | |
Jabil, Inc. | 118 | 13,608 | |
23,279 | |||
IT Services - 2.1% | |||
Gartner, Inc. (a) | 22 | 9,566 | |
MongoDB, Inc. Class A (a) | 60 | 24,944 | |
Snowflake, Inc. (a) | 54 | 10,135 | |
44,645 | |||
Semiconductors & Semiconductor Equipment - 13.0% | |||
Aixtron AG | 213 | 7,746 | |
Allegro MicroSystems LLC (a) | 97 | 2,640 | |
Arm Holdings Ltd. ADR | 18 | 1,107 | |
ASML Holding NV (depository receipt) | 22 | 15,043 | |
BE Semiconductor Industries NV | 113 | 15,799 | |
KLA Corp. | 26 | 14,160 | |
Monolithic Power Systems, Inc. | 13 | 7,133 | |
NVIDIA Corp. | 306 | 143,116 | |
NXP Semiconductors NV | 85 | 17,347 | |
SiTime Corp. (a) | 83 | 9,180 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 343 | 33,377 | |
Universal Display Corp. | 75 | 12,690 | |
279,338 | |||
Software - 19.2% | |||
Confluent, Inc. (a) | 416 | 8,828 | |
HubSpot, Inc. (a) | 30 | 14,818 | |
Manhattan Associates, Inc. (a) | 71 | 15,837 | |
Microsoft Corp. | 868 | 328,890 | |
NICE Ltd. sponsored ADR (a) | 36 | 6,831 | |
Oracle Corp. | 247 | 28,704 | |
ServiceNow, Inc. (a) | 13 | 8,915 | |
Volue A/S (a) | 356 | 603 | |
413,426 | |||
Technology Hardware, Storage & Peripherals - 4.5% | |||
Apple, Inc. | 506 | 96,115 | |
TOTAL INFORMATION TECHNOLOGY | 856,803 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.1% | |||
Aspen Aerogels, Inc. (a) | 150 | 1,572 | |
TOTAL COMMON STOCKS (Cost $2,075,965) | 2,142,136 | ||
Money Market Funds - 0.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) (Cost $7,493) | 7,492 | 7,493 | |
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $2,083,458) | 2,149,629 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (2,569) |
NET ASSETS - 100.0% | 2,147,060 |
(a) | Non-income producing |
(b) | 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 $31,646 or 1.5% of net assets. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | - | 2,088,309 | 2,080,816 | 1,061 | - | - | 7,493 | 0.0% |
Total | - | 2,088,309 | 2,080,816 | 1,061 | - | - | 7,493 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 211,456 | 170,477 | 40,979 | - |
Consumer Discretionary | 230,744 | 222,815 | 7,929 | - |
Consumer Staples | 26,996 | 26,996 | - | - |
Energy | 86,494 | 86,494 | - | - |
Financials | 107,999 | 107,999 | - | - |
Health Care | 331,459 | 331,459 | - | - |
Industrials | 288,613 | 288,613 | - | - |
Information Technology | 856,803 | 856,803 | - | - |
Materials | 1,572 | 1,572 | - | - |
Money Market Funds | 7,493 | 7,493 | - | - |
Total Investments in Securities: | 2,149,629 | 2,100,721 | 48,908 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,075,965) | $ | 2,142,136 | ||
Fidelity Central Funds (cost $7,493) | 7,493 | |||
Total Investment in Securities (cost $2,083,458) | $ | 2,149,629 | ||
Receivable for investments sold | 2,112 | |||
Receivable for fund shares sold | 1,522 | |||
Dividends receivable | 610 | |||
Distributions receivable from Fidelity Central Funds | 227 | |||
Prepaid expenses | 20,280 | |||
Receivable from investment adviser for expense reductions | 9,108 | |||
Total assets | 2,183,488 | |||
Liabilities | ||||
Payable for investments purchased | $ | 5,548 | ||
Accrued management fee | 447 | |||
Audit fee payable | 28,636 | |||
Other payables and accrued expenses | 1,797 | |||
Total Liabilities | 36,428 | |||
Net Assets | $ | 2,147,060 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,083,597 | ||
Total accumulated earnings (loss) | 63,463 | |||
Net Assets | $ | 2,147,060 | ||
Net Asset Value, offering price and redemption price per share ($2,147,060 ÷ 201,746 shares) | $ | 10.64 |
Statement of Operations | ||||
For the period August 24, 2023 (commencement of operations) through November 30, 2023 | ||||
Investment Income | ||||
Dividends | $ | 1,491 | ||
Income from Fidelity Central Funds | 1,061 | |||
Total Income | 2,552 | |||
Expenses | ||||
Management fee | $ | 1,291 | ||
Custodian fees and expenses | 1,796 | |||
Independent trustees' fees and expenses | 1 | |||
Registration fees | 8,244 | |||
Audit | 29,309 | |||
Miscellaneous | 111 | |||
Total expenses before reductions | 40,752 | |||
Expense reductions | (39,466) | |||
Total expenses after reductions | 1,286 | |||
Net Investment income (loss) | 1,266 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (3,998) | |||
Foreign currency transactions | 24 | |||
Total net realized gain (loss) | (3,974) | |||
Change in net unrealized appreciation (depreciation) on investment securities | 66,171 | |||
Net gain (loss) | 62,197 | |||
Net increase (decrease) in net assets resulting from operations | $ | 63,463 |
Statement of Changes in Net Assets | ||
For the period August 24, 2023 (commencement of operations) through November 30, 2023 | ||
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $ | 1,266 |
Net realized gain (loss) | (3,974) | |
Change in net unrealized appreciation (depreciation) | 66,171 | |
Net increase (decrease) in net assets resulting from operations | 63,463 | |
Share transactions | ||
Proceeds from sales of shares | 2,086,913 | |
Cost of shares redeemed | (3,316) | |
Net increase (decrease) in net assets resulting from share transactions | 2,083,597 | |
Total increase (decrease) in net assets | 2,147,060 | |
Net Assets | ||
Beginning of period | - | |
End of period | $ | 2,147,060 |
Other Information | ||
Shares | ||
Sold | 202,058 | |
Redeemed | (312) | |
Net increase (decrease) | 201,746 | |
Fidelity® Equity Growth K6 Fund |
Years ended November 30, | 2023 A | |
Selected Per-Share Data | ||
Net asset value, beginning of period | $ | 10.00 |
Income from Investment Operations | ||
Net investment income (loss) B,C | .01 | |
Net realized and unrealized gain (loss) | .63 | |
Total from investment operations | .64 | |
Net asset value, end of period | $ | 10.64 |
Total Return D,E | 6.40% | |
Ratios to Average Net Assets C,F,G | ||
Expenses before reductions | 6.77% H,I | |
Expenses net of fee waivers, if any | .45% H,I | |
Expenses net of all reductions | .45% H,I | |
Net investment income (loss) | .44% H,I | |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $ | 2,147 |
Portfolio turnover rate J | 14% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 | $90,997 |
Gross unrealized depreciation | (26,220) |
Net unrealized appreciation (depreciation) | $64,777 |
Tax Cost | $2,084,852 |
Undistributed ordinary income | $1,310 |
Capital loss carryforward | $(2,624) |
Net unrealized appreciation (depreciation) on securities and other investments | $64,777 |
Short-term | $(2,624) |
Purchases ($) | Sales ($) | |
Fidelity Equity Growth K6 Fund | 2,249,349 | 169,326 |
Amount | |
Fidelity Equity Growth K6 Fund | $18 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Equity Growth K6 Fund | 117,701 | 22,463 | (803) |
Fund | Affiliated % |
Fidelity Equity Growth K6 Fund | 50% |
The actual expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 24, 2023 to November 30, 2023). The hypothetical expense Example is based on an investment of $1,000 invested for the one-half year period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value | Ending Account Value November 30, 2023 | Expenses Paid During Period | |||||||
Fidelity® Equity Growth K6 Fund | .45% | |||||||||
Actual | $ 1,000 | $ 1,064.00 | $ 1.26C | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.81 | $ 2.28D | |||||||
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® Growth Company Fund | 26.74% | 18.89% | 16.48% |
Class K | 26.77% | 18.97% | 16.58% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® Growth Company Fund, a class of the fund, on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the Russell 3000® Growth Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 12.2 | |
Apple, Inc. | 11.5 | |
Microsoft Corp. | 7.9 | |
Amazon.com, Inc. | 6.2 | |
Alphabet, Inc. Class A | 4.5 | |
lululemon athletica, Inc. | 4.1 | |
Alphabet, Inc. Class C | 2.6 | |
Salesforce, Inc. | 1.9 | |
Tesla, Inc. | 1.8 | |
Eli Lilly & Co. | 1.6 | |
54.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 45.3 | |
Consumer Discretionary | 19.4 | |
Health Care | 12.5 | |
Communication Services | 10.1 | |
Industrials | 4.6 | |
Financials | 3.1 | |
Consumer Staples | 2.8 | |
Energy | 1.3 | |
Materials | 0.6 | |
Real Estate | 0.1 | |
Utilities | 0.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.6% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.9% | |||
Diversified Telecommunication Services - 0.0% | |||
Verizon Communications, Inc. | 700 | 27 | |
Entertainment - 0.9% | |||
Netflix, Inc. (a) | 864,329 | 409,666 | |
Roblox Corp. (a) | 1,600 | 63 | |
Roku, Inc. Class A (a) | 434,039 | 45,227 | |
The Walt Disney Co. | 144,838 | 13,425 | |
468,381 | |||
Interactive Media & Services - 8.6% | |||
Alphabet, Inc.: | |||
Class A (a) | 17,392,951 | 2,305,088 | |
Class C (a) | 9,747,066 | 1,305,327 | |
Epic Games, Inc. (a)(b)(c) | 51,800 | 30,612 | |
Meta Platforms, Inc. Class A (a) | 2,095,010 | 685,383 | |
Snap, Inc. Class A (a) | 5,421,366 | 74,977 | |
4,401,387 | |||
Media - 0.0% | |||
Comcast Corp. Class A | 2,200 | 92 | |
The Trade Desk, Inc. (a) | 55,138 | 3,885 | |
3,977 | |||
Wireless Telecommunication Services - 0.4% | |||
T-Mobile U.S., Inc. | 1,313,115 | 197,558 | |
TOTAL COMMUNICATION SERVICES | 5,071,330 | ||
CONSUMER DISCRETIONARY - 19.3% | |||
Automobile Components - 0.0% | |||
Mobileye Global, Inc. (a)(d) | 312,972 | 12,848 | |
Automobiles - 2.1% | |||
Neutron Holdings, Inc. (a)(b)(c) | 1,546,251 | 50 | |
Rad Power Bikes, Inc. (b)(c) | 1,182,568 | 497 | |
Rad Power Bikes, Inc. warrants 10/6/33 (a)(b)(c) | 985,838 | 2,258 | |
Rivian Automotive, Inc. (a)(d) | 7,817,130 | 131,015 | |
Tesla, Inc. (a) | 3,779,819 | 907,459 | |
1,041,279 | |||
Broadline Retail - 6.6% | |||
Alibaba Group Holding Ltd. sponsored ADR (a) | 126,711 | 9,488 | |
Amazon.com, Inc. (a) | 21,748,223 | 3,177,198 | |
Etsy, Inc. (a) | 83,291 | 6,314 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 2,357,795 | 172,756 | |
Ozon Holdings PLC ADR (a)(c)(d) | 20,942 | 276 | |
PDD Holdings, Inc. ADR (a) | 88,880 | 13,104 | |
3,379,136 | |||
Diversified Consumer Services - 0.0% | |||
Duolingo, Inc. (a) | 53,942 | 11,451 | |
Hotels, Restaurants & Leisure - 1.3% | |||
Airbnb, Inc. Class A (a) | 256,990 | 32,468 | |
Booking Holdings, Inc. (a) | 88,142 | 275,505 | |
Chipotle Mexican Grill, Inc. (a) | 43,473 | 95,738 | |
Dutch Bros, Inc. (a)(d) | 538,772 | 14,401 | |
Expedia, Inc. (a) | 143,781 | 19,580 | |
Marriott International, Inc. Class A | 346,059 | 70,146 | |
McDonald's Corp. | 2,818 | 794 | |
Penn Entertainment, Inc. (a) | 2,011,164 | 49,394 | |
Shake Shack, Inc. Class A (a) | 64,406 | 3,900 | |
Sonder Holdings, Inc.: | |||
Stage 1 rights (a)(c) | 53,749 | 2 | |
Stage 2 rights (a)(c) | 53,749 | 1 | |
Stage 3 rights (a)(c) | 53,749 | 1 | |
Stage 4 rights (a)(c) | 53,749 | 1 | |
Stage 5: | |||
rights (a)(c) | 53,749 | 1 | |
rights (a)(c) | 53,748 | 1 | |
Starbucks Corp. | 446,362 | 44,324 | |
Sweetgreen, Inc. Class A (a) | 952,685 | 8,965 | |
Trip.com Group Ltd. ADR (a) | 460,482 | 16,200 | |
Zomato Ltd. (a) | 9,483,800 | 13,484 | |
644,906 | |||
Household Durables - 0.3% | |||
Lennar Corp. Class A | 1,152,907 | 147,480 | |
Purple Innovation, Inc. (d) | 2,357,667 | 1,463 | |
SharkNinja Hong Kong Co. Ltd. | 225,600 | 10,603 | |
Toll Brothers, Inc. (d) | 155,019 | 13,315 | |
172,861 | |||
Specialty Retail - 2.6% | |||
Abercrombie & Fitch Co. Class A (a) | 154,405 | 11,718 | |
Dick's Sporting Goods, Inc. | 159,259 | 20,720 | |
Fanatics, Inc. Class A (a)(b)(c) | 730,532 | 53,000 | |
Five Below, Inc. (a) | 102,114 | 19,244 | |
Floor & Decor Holdings, Inc. Class A (a)(d) | 169,612 | 15,555 | |
Foot Locker, Inc. (d) | 265,300 | 7,145 | |
Lowe's Companies, Inc. | 1,045,651 | 207,907 | |
Revolve Group, Inc. (a)(d) | 1,799,192 | 23,965 | |
RH (a) | 72,529 | 19,581 | |
Ross Stores, Inc. | 200,588 | 26,153 | |
RumbleON, Inc.: | |||
Class B (a)(d) | 560,683 | 3,280 | |
rights (a) | 560,683 | 212 | |
The Home Depot, Inc. | 1,065,896 | 334,148 | |
TJX Companies, Inc. | 4,024,533 | 354,602 | |
Wayfair LLC Class A (a)(d) | 3,578,953 | 199,706 | |
1,296,936 | |||
Textiles, Apparel & Luxury Goods - 6.4% | |||
Birkenstock Holding PLC (d) | 281,200 | 12,977 | |
Canada Goose Holdings, Inc. (a)(d) | 1,618,209 | 17,948 | |
Crocs, Inc. (a) | 231,314 | 24,429 | |
Deckers Outdoor Corp. (a) | 619,052 | 411,032 | |
Figs, Inc. Class A (a)(d) | 396,632 | 2,880 | |
Li Ning Co. Ltd. | 1,708,772 | 4,758 | |
lululemon athletica, Inc. (a) | 4,640,974 | 2,073,587 | |
NIKE, Inc. Class B | 1,101,547 | 121,468 | |
On Holding AG (a)(d) | 4,889,770 | 141,852 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 6,741,622 | 397,149 | |
Tory Burch LLC: | |||
Class A (a)(b)(c)(e) | 950,844 | 33,792 | |
Class B (a)(b)(c)(e) | 324,840 | 12,490 | |
3,254,362 | |||
TOTAL CONSUMER DISCRETIONARY | 9,813,779 | ||
CONSUMER STAPLES - 2.8% | |||
Beverages - 1.3% | |||
Celsius Holdings, Inc. (a) | 1,621,928 | 80,302 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 1,100 | 265 | |
Keurig Dr. Pepper, Inc. | 2,073,857 | 65,472 | |
Monster Beverage Corp. | 2,905,168 | 160,220 | |
PepsiCo, Inc. | 634,267 | 106,741 | |
The Coca-Cola Co. | 3,937,693 | 230,119 | |
643,119 | |||
Consumer Staples Distribution & Retail - 0.7% | |||
Costco Wholesale Corp. | 354,217 | 209,959 | |
Dollar General Corp. | 119,122 | 15,619 | |
Dollar Tree, Inc. (a) | 67,314 | 8,319 | |
Kroger Co. | 612,434 | 27,112 | |
Maplebear, Inc. (d) | 37,785 | 914 | |
Maplebear, Inc. (unlisted) | 105,066 | 2,287 | |
Target Corp. | 314,780 | 42,121 | |
Walmart, Inc. | 349,214 | 54,369 | |
360,700 | |||
Food Products - 0.2% | |||
Bowery Farming, Inc. warrants (a)(b)(c) | 70,915 | 293 | |
Bunge Global SA | 490,691 | 53,912 | |
Kellanova | 47,991 | 2,521 | |
Mondelez International, Inc. | 272,990 | 19,399 | |
The Hershey Co. | 164,763 | 30,962 | |
The Real Good Food Co. LLC: | |||
Class B (a)(c) | 616,906 | 0 | |
Class B unit (a)(f) | 616,906 | 1,172 | |
The Real Good Food Co., Inc. (a) | 538,301 | 1,023 | |
WK Kellogg Co. | 11,972 | 134 | |
109,416 | |||
Household Products - 0.2% | |||
Church & Dwight Co., Inc. (d) | 169,101 | 16,340 | |
Colgate-Palmolive Co. | 115,099 | 9,066 | |
Procter & Gamble Co. | 549,834 | 84,411 | |
The Clorox Co. | 57,309 | 8,215 | |
118,032 | |||
Personal Care Products - 0.1% | |||
elf Beauty, Inc. (a) | 143,336 | 16,927 | |
Kenvue, Inc. | 306,161 | 6,258 | |
Oddity Tech Ltd. (d) | 189,521 | 6,459 | |
Oddity Tech Ltd. Class A | 158,671 | 5,137 | |
Olaplex Holdings, Inc. (a) | 285,887 | 623 | |
The Beauty Health Co. (a)(b) | 2,884,717 | 7,385 | |
The Beauty Health Co. (a)(d) | 1,956,216 | 5,008 | |
47,797 | |||
Tobacco - 0.3% | |||
JUUL Labs, Inc. Class A (a)(b)(c) | 44,067 | 47 | |
Philip Morris International, Inc. | 1,745,014 | 162,915 | |
162,962 | |||
TOTAL CONSUMER STAPLES | 1,442,026 | ||
ENERGY - 1.3% | |||
Energy Equipment & Services - 0.2% | |||
Baker Hughes Co. Class A | 677,264 | 22,858 | |
Halliburton Co. | 2,431,105 | 90,024 | |
112,882 | |||
Oil, Gas & Consumable Fuels - 1.1% | |||
Cameco Corp. (d) | 1,607,841 | 73,832 | |
EOG Resources, Inc. | 34,000 | 4,184 | |
EQT Corp. (d) | 370,019 | 14,786 | |
Hess Corp. | 2,183,242 | 306,876 | |
Pioneer Natural Resources Co. | 12,418 | 2,877 | |
Range Resources Corp. | 3,062,726 | 99,539 | |
Reliance Industries Ltd. | 1,744,138 | 49,730 | |
Valero Energy Corp. | 176,207 | 22,089 | |
573,913 | |||
TOTAL ENERGY | 686,795 | ||
FINANCIALS - 2.9% | |||
Banks - 0.3% | |||
Bank of America Corp. | 2,078,797 | 63,383 | |
HDFC Bank Ltd. sponsored ADR | 1,150,631 | 69,084 | |
JPMorgan Chase & Co. | 263,925 | 41,193 | |
Wells Fargo & Co. | 97,425 | 4,344 | |
178,004 | |||
Capital Markets - 0.2% | |||
3i Group PLC | 334,900 | 9,437 | |
BlackRock, Inc. Class A | 117,229 | 88,066 | |
Coinbase Global, Inc. (a) | 18,700 | 2,332 | |
99,835 | |||
Financial Services - 2.4% | |||
Ant International Co. Ltd. Class C (a)(b)(c) | 1,755,314 | 3,247 | |
Block, Inc. Class A (a) | 62,406 | 3,958 | |
Jio Financial Services Ltd. | 2,337,738 | 6,431 | |
MasterCard, Inc. Class A | 1,158,546 | 479,441 | |
PayPal Holdings, Inc. (a) | 464,529 | 26,762 | |
Saluda Medical, Inc. warrants 1/20/27 (a)(b)(c) | 87,212 | 212 | |
Toast, Inc. (a)(d) | 4,068,582 | 60,500 | |
Visa, Inc. Class A | 2,453,937 | 629,877 | |
1,210,428 | |||
TOTAL FINANCIALS | 1,488,267 | ||
HEALTH CARE - 11.7% | |||
Biotechnology - 6.4% | |||
4D Pharma PLC (a)(c)(d) | 2,431,667 | 511 | |
AbbVie, Inc. | 379,188 | 53,993 | |
Absci Corp. (a) | 3,949,494 | 6,596 | |
ACADIA Pharmaceuticals, Inc. (a) | 1,696,137 | 37,790 | |
Acelyrin, Inc. (d) | 607,007 | 4,079 | |
Akouos, Inc. (CVR) (c) | 1,254,446 | 1,041 | |
Alector, Inc. (a) | 3,100,016 | 16,802 | |
Allogene Therapeutics, Inc. (a) | 2,072,360 | 4,870 | |
Allovir, Inc. (a) | 2,688,204 | 5,054 | |
Alnylam Pharmaceuticals, Inc. (a) | 1,630,658 | 274,358 | |
Ambrx Biopharma, Inc. | 8,181 | 94 | |
Amgen, Inc. | 343,919 | 92,734 | |
Apellis Pharmaceuticals, Inc. (a)(d) | 291,432 | 15,699 | |
Apogee Therapeutics, Inc. | 411,282 | 8,024 | |
Apogee Therapeutics, Inc. (unlisted) | 632,699 | 11,727 | |
Argenx SE ADR (a) | 657,238 | 296,158 | |
Arrowhead Pharmaceuticals, Inc. (a) | 130,604 | 2,769 | |
Ascendis Pharma A/S sponsored ADR (a) | 57,328 | 5,757 | |
aTyr Pharma, Inc. (a) | 2,112,789 | 2,747 | |
Avidity Biosciences, Inc. (a) | 2,197,710 | 17,164 | |
Beam Therapeutics, Inc. (a)(d) | 804,478 | 22,590 | |
BeiGene Ltd. ADR (a) | 482,244 | 90,151 | |
Biomea Fusion, Inc. (a)(d) | 1,648,120 | 24,837 | |
BioNTech SE ADR (a) | 43,734 | 4,391 | |
BioXcel Therapeutics, Inc. (a)(d) | 701,246 | 2,665 | |
Cargo Therapeutics, Inc. | 450,400 | 6,733 | |
Caris Life Sciences, Inc. (a)(b)(c) | 926,826 | 3,049 | |
Century Therapeutics, Inc. (a) | 1,109,205 | 1,520 | |
Cerevel Therapeutics Holdings (a) | 5,965,516 | 154,686 | |
Cibus, Inc. (a) | 715,035 | 8,988 | |
Codiak Biosciences, Inc. warrants 9/15/27 (a)(c) | 380,700 | 0 | |
CRISPR Therapeutics AG (a)(d) | 594,487 | 39,670 | |
Cyclerion Therapeutics, Inc. (a) | 21,161 | 46 | |
Cyclerion Therapeutics, Inc. (a)(b) | 27,184 | 59 | |
Day One Biopharmaceuticals, Inc. (a)(d) | 526,837 | 6,101 | |
Denali Therapeutics, Inc. (a) | 129,481 | 2,398 | |
Deverra Therapeutics, Inc. (a)(c) | 59,780 | 0 | |
Dianthus Therapeutics, Inc. (a) | 253,562 | 2,835 | |
Dianthus Therapeutics, Inc. (unlisted) (b) | 208,961 | 2,219 | |
Disc Medicine, Inc. rights (a)(c) | 128,509 | 0 | |
Foghorn Therapeutics, Inc. (a) | 941,824 | 4,003 | |
Generation Bio Co. (a) | 1,873,691 | 2,117 | |
Geron Corp. (a) | 976,841 | 1,885 | |
Idorsia Ltd. (a)(d) | 630,992 | 1,381 | |
Immunocore Holdings PLC ADR (a) | 173,219 | 9,134 | |
ImmunoGen, Inc. (a) | 1,327,066 | 38,949 | |
Immunovant, Inc. (a) | 2,407,249 | 94,196 | |
Inhibrx, Inc. (a)(d) | 392,280 | 8,148 | |
Intarcia Therapeutics, Inc. warrants 12/6/24 (a)(c) | 156,370 | 0 | |
Invivyd, Inc. (a) | 2,419,767 | 3,702 | |
Ionis Pharmaceuticals, Inc. (a) | 6,859,914 | 339,360 | |
Janux Therapeutics, Inc. (a) | 746,621 | 6,518 | |
Karuna Therapeutics, Inc. (a) | 1,264,109 | 241,710 | |
Kineta, Inc. | 31,069 | 123 | |
Korro Bio, Inc. (b) | 58,740 | 2,339 | |
Korro Bio, Inc. | 138,388 | 5,220 | |
Legend Biotech Corp. ADR (a) | 1,817,540 | 110,543 | |
Lexicon Pharmaceuticals, Inc. (a)(d) | 774,146 | 821 | |
Lyell Immunopharma, Inc. (a)(d) | 902,875 | 1,562 | |
Madrigal Pharmaceuticals, Inc. (a)(d) | 27,894 | 5,671 | |
Moderna, Inc. (a) | 904,403 | 70,272 | |
Monte Rosa Therapeutics, Inc. (a) | 744,093 | 2,307 | |
Moonlake Immunotherapeutics (a)(d) | 255,808 | 11,233 | |
Morphic Holding, Inc. (a) | 1,309,955 | 31,046 | |
Morphimmune, Inc. (b) | 1,152,912 | 8,601 | |
Nuvalent, Inc. Class A (a) | 1,602,376 | 104,747 | |
Omega Therapeutics, Inc. (a) | 1,671,177 | 3,827 | |
ORIC Pharmaceuticals, Inc. (a)(d) | 766,091 | 6,052 | |
Poseida Therapeutics, Inc. (a) | 3,293,610 | 8,794 | |
Prothena Corp. PLC (a) | 2,320,145 | 75,590 | |
PTC Therapeutics, Inc. (a) | 242,826 | 5,590 | |
RAPT Therapeutics, Inc. (a) | 1,089,327 | 15,817 | |
RayzeBio, Inc. (d) | 266,777 | 6,371 | |
Recursion Pharmaceuticals, Inc. (a)(d) | 1,468,036 | 10,056 | |
Regeneron Pharmaceuticals, Inc. (a) | 270,372 | 222,735 | |
Relay Therapeutics, Inc. (a)(d) | 309,030 | 2,444 | |
Revolution Medicines, Inc. (a) | 872,784 | 20,362 | |
Roivant Sciences Ltd. (a)(d) | 10,843,593 | 103,665 | |
Sage Therapeutics, Inc. (a) | 1,793,050 | 35,108 | |
Sagimet Biosciences, Inc. | 647,237 | 2,472 | |
Sana Biotechnology, Inc. (a)(d) | 2,977,847 | 12,090 | |
Scholar Rock Holding Corp. (a) | 2,185,529 | 27,516 | |
Scholar Rock Holding Corp. warrants 12/31/25 (a)(b) | 167,100 | 1,096 | |
Seres Therapeutics, Inc. (a)(d) | 5,921,354 | 6,158 | |
Shattuck Labs, Inc. (a) | 1,398,569 | 2,741 | |
Sigilon Therapeutics, Inc. rights (a)(c) | 28,234 | 214 | |
SpringWorks Therapeutics, Inc. (a)(d) | 3,069,148 | 93,271 | |
Spyre Therapeutics, Inc. (b) | 704,000 | 13,137 | |
Synlogic, Inc. (a) | 79,478 | 199 | |
Tango Therapeutics, Inc. (b) | 543,718 | 4,132 | |
Tango Therapeutics, Inc. (a) | 1,019,139 | 7,745 | |
Taysha Gene Therapies, Inc. (a)(d) | 3,669,673 | 6,459 | |
Turnstone Biologics Corp. | 277,483 | 605 | |
Tyra Biosciences, Inc. (a) | 36,895 | 432 | |
UNITY Biotechnology, Inc. warrants 8/22/27 (a) | 1,900,968 | 24 | |
Vaxcyte, Inc. (a) | 894,395 | 46,303 | |
Vera Therapeutics, Inc. (a)(d) | 813,851 | 11,028 | |
Vertex Pharmaceuticals, Inc. (a) | 242,486 | 86,036 | |
Verve Therapeutics, Inc. (a)(d) | 413,007 | 4,659 | |
Viking Therapeutics, Inc. (a) | 3,325,595 | 40,639 | |
Vor Biopharma, Inc. (a) | 1,480,490 | 2,739 | |
WuXi XDC Cayman, Inc. | 444,419 | 1,627 | |
Zai Lab Ltd. ADR (a) | 132,199 | 3,608 | |
Zentalis Pharmaceuticals, Inc. (a) | 920,857 | 10,360 | |
3,238,194 | |||
Health Care Equipment & Supplies - 1.0% | |||
Abbott Laboratories | 82,630 | 8,617 | |
Axonics Modulation Technologies, Inc. (a) | 221,090 | 12,379 | |
Blink Health LLC Series A1 (a)(b)(c) | 173,460 | 8,140 | |
Boston Scientific Corp. (a) | 112,798 | 6,304 | |
DexCom, Inc. (a) | 202,690 | 23,415 | |
Inspire Medical Systems, Inc. (a) | 43,793 | 6,364 | |
Insulet Corp. (a) | 426,855 | 80,714 | |
Intuitive Surgical, Inc. (a) | 612,608 | 190,423 | |
Novocure Ltd. (a) | 5,008,062 | 61,449 | |
Outset Medical, Inc. (a) | 1,385,512 | 7,260 | |
Penumbra, Inc. (a) | 9,635 | 2,140 | |
Presbia PLC (a)(c)(g) | 1,099,338 | 0 | |
PROCEPT BioRobotics Corp. (a) | 1,277,485 | 47,356 | |
Shockwave Medical, Inc. (a) | 428,954 | 74,874 | |
529,435 | |||
Health Care Providers & Services - 1.1% | |||
Alignment Healthcare, Inc. (a) | 1,541,641 | 11,562 | |
Guardant Health, Inc. (a) | 320,438 | 8,065 | |
Humana, Inc. | 116,940 | 56,700 | |
McKesson Corp. | 70,460 | 33,156 | |
The Oncology Institute, Inc. (a)(b) | 1,815,080 | 3,104 | |
UnitedHealth Group, Inc. | 758,130 | 419,223 | |
531,810 | |||
Health Care Technology - 0.0% | |||
DNA Script (a)(b)(c) | 463 | 123 | |
DNA Script (a)(b)(c) | 1,769 | 471 | |
594 | |||
Life Sciences Tools & Services - 0.4% | |||
10X Genomics, Inc. (a) | 144,994 | 6,310 | |
10X Genomics, Inc. Class B (a)(f) | 1,995,040 | 86,824 | |
Danaher Corp. | 77,185 | 17,236 | |
Gerresheimer AG | 61,630 | 5,826 | |
Seer, Inc. (a) | 266,409 | 429 | |
Thermo Fisher Scientific, Inc. | 120,156 | 59,569 | |
WuXi AppTec Co. Ltd. (H Shares) (d)(f) | 1,082,038 | 12,675 | |
Wuxi Biologics (Cayman), Inc. (a)(f) | 5,447,183 | 30,335 | |
219,204 | |||
Pharmaceuticals - 2.8% | |||
Adimab LLC (a)(b)(c)(e) | 3,162,765 | 75,527 | |
Agomab Therapeutics SA warrants 10/10/33 (a)(c) | 10 | 0 | |
Arvinas Holding Co. LLC (a) | 175,453 | 3,855 | |
Atea Pharmaceuticals, Inc. (a) | 935,961 | 2,799 | |
Bristol-Myers Squibb Co. | 337,390 | 16,660 | |
Dragonfly Therapeutics, Inc. (a)(b)(c) | 481,725 | 8,849 | |
Eli Lilly & Co. | 1,365,492 | 807,060 | |
Fulcrum Therapeutics, Inc. (a) | 869,674 | 4,174 | |
GH Research PLC (a) | 821,524 | 5,126 | |
Harmony Biosciences Holdings, Inc. (a) | 1,774,801 | 51,576 | |
Intra-Cellular Therapies, Inc. (a) | 3,004,936 | 184,413 | |
Merck & Co., Inc. | 167,575 | 17,173 | |
Novo Nordisk A/S Series B sponsored ADR | 1,391,416 | 141,702 | |
Nuvation Bio, Inc. (a) | 7,531,632 | 9,339 | |
OptiNose, Inc. (a) | 4,830,332 | 6,038 | |
OptiNose, Inc. warrants (a) | 701,374 | 195 | |
Pfizer, Inc. | 84,709 | 2,581 | |
Pharvaris BV (a) | 138,302 | 2,380 | |
Pliant Therapeutics, Inc. (a)(d) | 1,363,612 | 18,941 | |
Sienna Biopharmaceuticals, Inc. (a) | 1,413,588 | 0 | |
Skyhawk Therapeutics, Inc. (a)(b)(c) | 603,195 | 5,447 | |
Structure Therapeutics, Inc. (b) | 277,689 | 5,155 | |
UCB SA | 780,009 | 57,599 | |
1,426,589 | |||
TOTAL HEALTH CARE | 5,945,826 | ||
INDUSTRIALS - 4.2% | |||
Aerospace & Defense - 0.9% | |||
AeroVironment, Inc. (a) | 161,525 | 22,227 | |
Lockheed Martin Corp. | 131,890 | 59,056 | |
Space Exploration Technologies Corp. Class A (a)(b)(c) | 3,564,816 | 288,750 | |
The Boeing Co. (a) | 322,770 | 74,763 | |
444,796 | |||
Air Freight & Logistics - 0.0% | |||
Delhivery Private Ltd. (a) | 2,269,100 | 10,644 | |
United Parcel Service, Inc. Class B | 95,002 | 14,403 | |
25,047 | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 25,761 | 1,990 | |
Construction & Engineering - 0.2% | |||
Fluor Corp. (a) | 1,313,413 | 49,949 | |
Quanta Services, Inc. | 144,169 | 27,148 | |
77,097 | |||
Electrical Equipment - 0.6% | |||
Eaton Corp. PLC | 776,282 | 176,752 | |
Emerson Electric Co. | 558,737 | 49,672 | |
Fluence Energy, Inc. (a)(d) | 96,873 | 2,430 | |
Generac Holdings, Inc. (a) | 380,008 | 44,488 | |
Nextracker, Inc. Class A | 171,986 | 6,990 | |
NuScale Power Corp. (a)(d) | 832,996 | 2,307 | |
Schneider Electric SA | 230,500 | 42,424 | |
325,063 | |||
Ground Transportation - 1.6% | |||
Avis Budget Group, Inc. (a) | 1,483,657 | 271,287 | |
Bird Global, Inc.: | |||
Stage 1 rights (a)(c) | 5,332 | 0 | |
Stage 2 rights (a)(c) | 5,332 | 0 | |
Stage 3 rights (a)(c) | 5,332 | 0 | |
Hertz Global Holdings, Inc. (a)(d) | 118,421 | 988 | |
Lyft, Inc. (a) | 2,272,012 | 26,651 | |
Uber Technologies, Inc. (a) | 6,729,558 | 379,412 | |
Union Pacific Corp. | 503,127 | 113,339 | |
791,677 | |||
Industrial Conglomerates - 0.1% | |||
General Electric Co. | 152,134 | 18,530 | |
Honeywell International, Inc. | 93,510 | 18,320 | |
36,850 | |||
Machinery - 0.5% | |||
Caterpillar, Inc. | 370,709 | 92,944 | |
Deere & Co. | 249,129 | 90,785 | |
Illinois Tool Works, Inc. | 140,488 | 34,028 | |
Ingersoll Rand, Inc. | 187,519 | 13,394 | |
231,151 | |||
Passenger Airlines - 0.3% | |||
Delta Air Lines, Inc. | 1,397,282 | 51,602 | |
Ryanair Holdings PLC sponsored ADR (a) | 23,141 | 2,736 | |
Southwest Airlines Co. (d) | 1,467,114 | 37,514 | |
United Airlines Holdings, Inc. (a) | 1,090,581 | 42,969 | |
Wheels Up Experience, Inc.: | |||
rights (a)(c) | 80,889 | 0 | |
rights (a)(c) | 80,889 | 0 | |
rights (a)(c) | 80,890 | 0 | |
Wizz Air Holdings PLC (a)(f) | 1,709,826 | 40,646 | |
175,467 | |||
Professional Services - 0.0% | |||
LegalZoom.com, Inc. (a) | 734,134 | 8,465 | |
Paylocity Holding Corp. (a) | 77,203 | 12,095 | |
20,560 | |||
TOTAL INDUSTRIALS | 2,129,698 | ||
INFORMATION TECHNOLOGY - 44.9% | |||
Communications Equipment - 0.6% | |||
Arista Networks, Inc. (a) | 434,985 | 95,571 | |
Ciena Corp. (a) | 2,915,081 | 133,656 | |
Infinera Corp. (a) | 10,541,717 | 41,007 | |
270,234 | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Coherent Corp. (a) | 162,214 | 5,968 | |
TE Connectivity Ltd. | 12,283 | 1,609 | |
7,577 | |||
IT Services - 1.4% | |||
Accenture PLC Class A | 380,158 | 126,646 | |
Cloudflare, Inc. (a) | 3,750,299 | 289,336 | |
IBM Corp. | 367,340 | 58,245 | |
MongoDB, Inc. Class A (a) | 65,867 | 27,384 | |
Okta, Inc. (a) | 413,824 | 27,747 | |
Shopify, Inc. Class A (a) | 1,960,121 | 142,789 | |
Snowflake, Inc. (a) | 266,625 | 50,040 | |
Twilio, Inc. Class A (a) | 44,957 | 2,908 | |
X Holdings Corp. (b)(c) | 90,280 | 2,571 | |
727,666 | |||
Semiconductors & Semiconductor Equipment - 15.7% | |||
Advanced Micro Devices, Inc. (a) | 2,170,946 | 263,032 | |
Allegro MicroSystems LLC (a) | 95,518 | 2,600 | |
Applied Materials, Inc. | 1,412,476 | 211,561 | |
Arm Holdings Ltd. ADR (d) | 278,215 | 17,110 | |
ASML Holding NV (depository receipt) | 68,481 | 46,825 | |
Broadcom, Inc. | 119,334 | 110,471 | |
Cirrus Logic, Inc. (a) | 1,267,614 | 96,225 | |
Enphase Energy, Inc. (a) | 94,603 | 9,557 | |
First Solar, Inc. (a) | 650,350 | 102,612 | |
GaN Systems, Inc. (c) | 1,232,627 | 124 | |
GaN Systems, Inc. (c) | 1,232,627 | 0 | |
GlobalFoundries, Inc. (a) | 261,509 | 14,040 | |
Impinj, Inc. (a) | 458,844 | 38,355 | |
Intel Corp. | 800 | 36 | |
KLA Corp. | 175,872 | 95,783 | |
Lam Research Corp. | 58,791 | 42,090 | |
Lattice Semiconductor Corp. (a) | 213,400 | 12,495 | |
Marvell Technology, Inc. | 3,138,596 | 174,914 | |
Micron Technology, Inc. | 457,632 | 34,835 | |
Monolithic Power Systems, Inc. | 111,682 | 61,282 | |
NVIDIA Corp. | 13,243,350 | 6,193,909 | |
ON Semiconductor Corp. (a) | 661,386 | 47,177 | |
Qualcomm, Inc. | 455,142 | 58,736 | |
Silicon Laboratories, Inc. (a) | 1,568,894 | 165,314 | |
SiTime Corp. (a) | 589,697 | 65,220 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 412,370 | 40,128 | |
Teradyne, Inc. | 214,571 | 19,790 | |
Texas Instruments, Inc. | 395,726 | 60,431 | |
Wolfspeed, Inc. (a)(d) | 370,785 | 13,667 | |
7,998,319 | |||
Software - 14.7% | |||
Adobe, Inc. (a) | 669,960 | 409,352 | |
ASAPP, Inc. warrants 8/28/28 (a)(b)(c) | 1,007,060 | 2,266 | |
Atlassian Corp. PLC (a) | 23,811 | 4,547 | |
Autodesk, Inc. (a) | 344,801 | 75,315 | |
Bill Holdings, Inc. (a) | 100,687 | 6,592 | |
Clear Secure, Inc. (d) | 2,381 | 51 | |
Confluent, Inc. (a) | 599,297 | 12,717 | |
CoreWeave, Inc. (b)(c) | 102,051 | 31,622 | |
Crowdstrike Holdings, Inc. (a) | 413,510 | 97,998 | |
Datadog, Inc. Class A (a) | 290,354 | 33,847 | |
Elastic NV (a) | 159,188 | 12,792 | |
Freshworks, Inc. (a) | 996,005 | 19,940 | |
HubSpot, Inc. (a) | 189,213 | 93,458 | |
Intuit, Inc. | 256,837 | 146,772 | |
Microsoft Corp. | 10,558,661 | 4,000,782 | |
Nutanix, Inc. Class A (a)(g) | 12,191,999 | 525,353 | |
Oracle Corp. | 3,739,798 | 434,602 | |
Palantir Technologies, Inc. (a)(d) | 804,995 | 16,140 | |
Palo Alto Networks, Inc. (a) | 224,048 | 66,114 | |
Pine Labs Private Ltd. (a)(b)(c) | 4,120 | 1,342 | |
PTC, Inc. (a) | 22,871 | 3,599 | |
RingCentral, Inc. (a) | 143,685 | 4,089 | |
Salesforce, Inc. (a) | 3,834,179 | 965,830 | |
Samsara, Inc. (a) | 429,312 | 11,823 | |
SentinelOne, Inc. (a)(d) | 242,963 | 4,638 | |
ServiceNow, Inc. (a) | 402,447 | 275,974 | |
Stripe, Inc. Class B (a)(b)(c) | 205,500 | 4,523 | |
UiPath, Inc. Class A (a) | 4,374,594 | 86,442 | |
Workday, Inc. Class A (a) | 167,685 | 45,396 | |
Zoom Video Communications, Inc. Class A (a) | 665,980 | 45,173 | |
Zscaler, Inc. (a) | 231,251 | 45,679 | |
7,484,768 | |||
Technology Hardware, Storage & Peripherals - 12.5% | |||
Apple, Inc. | 30,944,435 | 5,877,895 | |
Pure Storage, Inc. Class A (a) | 14,214,592 | 473,488 | |
Samsung Electronics Co. Ltd. | 360,225 | 20,175 | |
6,371,558 | |||
TOTAL INFORMATION TECHNOLOGY | 22,860,122 | ||
MATERIALS - 0.5% | |||
Chemicals - 0.2% | |||
Albemarle Corp. (d) | 119,496 | 14,491 | |
CF Industries Holdings, Inc. | 111,487 | 8,378 | |
Corteva, Inc. | 1,033,863 | 46,731 | |
Farmers Business Network, Inc. (a)(c) | 158,470 | 399 | |
Farmers Business Network, Inc. warrants 9/27/33 (a)(b)(c) | 739,310 | 1,856 | |
The Mosaic Co. | 790,834 | 28,383 | |
100,238 | |||
Metals & Mining - 0.3% | |||
Barrick Gold Corp. (Canada) | 440,021 | 7,731 | |
Freeport-McMoRan, Inc. | 4,202,110 | 156,823 | |
164,554 | |||
TOTAL MATERIALS | 264,792 | ||
REAL ESTATE - 0.1% | |||
Equity Real Estate Investment Trusts (REITs) - 0.1% | |||
American Tower Corp. | 221,449 | 46,234 | |
Equinix, Inc. | 15,030 | 12,250 | |
58,484 | |||
TOTAL COMMON STOCKS (Cost $17,829,254) | 49,761,119 | ||
Preferred Stocks - 2.2% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 2.1% | |||
COMMUNICATION SERVICES - 0.2% | |||
Interactive Media & Services - 0.2% | |||
ByteDance Ltd. Series E1 (a)(b)(c) | 403,450 | 102,557 | |
Reddit, Inc.: | |||
Series B(a)(b)(c) | 384,303 | 12,071 | |
Series E(a)(b)(c) | 24,203 | 760 | |
Series F(a)(b)(c) | 114,996 | 3,612 | |
119,000 | |||
CONSUMER DISCRETIONARY - 0.1% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc.: | |||
Series A(a)(b)(c) | 154,174 | 65 | |
Series C(a)(b)(c) | 606,658 | 437 | |
Series D(a)(b)(c) | 1,071,300 | 1,114 | |
1,616 | |||
Broadline Retail - 0.0% | |||
Meesho Series F (a)(b)(c) | 309,354 | 20,065 | |
Hotels, Restaurants & Leisure - 0.0% | |||
Discord, Inc. Series I (a)(b)(c) | 7,000 | 1,806 | |
MOD Super Fast Pizza Holdings LLC: | |||
Series 3(a)(b)(c)(e) | 56,343 | 13,433 | |
Series 4(a)(b)(c)(e) | 5,142 | 1,165 | |
Series 5(a)(b)(c)(e) | 20,652 | 4,363 | |
20,767 | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Canva, Inc.: | |||
Series A(b)(c) | 3,369 | 3,766 | |
Series A2(b)(c) | 611 | 683 | |
Freenome, Inc.: | |||
Series C(a)(b)(c) | 900,884 | 6,171 | |
Series D(a)(b)(c) | 502,404 | 3,632 | |
Laronde, Inc. Series B (a)(b)(c) | 344,496 | 9,646 | |
23,898 | |||
TOTAL CONSUMER DISCRETIONARY | 66,346 | ||
CONSUMER STAPLES - 0.0% | |||
Consumer Staples Distribution & Retail - 0.0% | |||
GoBrands, Inc.: | |||
Series G(a)(b)(c) | 125,688 | 6,536 | |
Series H(a)(b)(c) | 104,311 | 6,806 | |
13,342 | |||
Food Products - 0.0% | |||
AgBiome LLC: | |||
Series C(a)(b)(c) | 1,060,308 | 159 | |
Series D(a)(b)(c) | 852,431 | 128 | |
Bowery Farming, Inc.: | |||
Series C1(a)(b)(c) | 130,916 | 1,041 | |
Series D1(b)(c) | 70,915 | 377 | |
1,705 | |||
Tobacco - 0.0% | |||
JUUL Labs, Inc. Series E (a)(b)(c) | 22,033 | 24 | |
TOTAL CONSUMER STAPLES | 15,071 | ||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Kartos Therapeutics, Inc. Series C (b)(c) | 1,226,990 | 6,466 | |
Paragon Biosciences Emalex Capital, Inc.: | |||
Series B(a)(b)(c) | 416,094 | 4,431 | |
Series C(a)(b)(c) | 559,977 | 6,042 | |
Series D1(a)(b)(c) | 754,242 | 8,168 | |
Series D2(a)(b)(c) | 138,091 | 1,414 | |
Saluda Medical, Inc.: | |||
Series D(b)(c) | 581,414 | 6,529 | |
Series E(b)(c) | 799,565 | 6,221 | |
Tenstorrent Holdings, Inc. Series C1 (b)(c) | 178,216 | 9,980 | |
49,251 | |||
HEALTH CARE - 0.8% | |||
Biotechnology - 0.6% | |||
Altos Labs, Inc. Series B (a)(b)(c) | 485,428 | 8,364 | |
Ankyra Therapeutics Series B (a)(b)(c) | 1,356,730 | 5,373 | |
Asimov, Inc. Series B (a)(b)(c) | 82,174 | 3,446 | |
Bright Peak Therapeutics AG Series B (a)(b)(c) | 1,272,915 | 2,088 | |
Caris Life Sciences, Inc. Series D (a)(b)(c) | 1,235,035 | 4,063 | |
Castle Creek Biosciences, Inc.: | |||
Series D1(a)(b)(c) | 19,720 | 3,677 | |
Series D2(a)(b)(c) | 6,341 | 1,038 | |
Cleerly, Inc. Series C (a)(b)(c) | 983,054 | 10,578 | |
Deep Genomics, Inc. Series C (a)(b)(c) | 682,293 | 6,359 | |
Element Biosciences, Inc.: | |||
Series B(a)(b)(c) | 1,096,312 | 15,337 | |
Series C(a)(b)(c) | 480,109 | 6,717 | |
ElevateBio LLC Series C (a)(b)(c) | 1,534,100 | 4,618 | |
Fog Pharmaceuticals, Inc. Series D (b)(c) | 883,504 | 8,614 | |
Generate Biomedicines: | |||
Series B(a)(b)(c) | 820,747 | 8,265 | |
Series C(b)(c) | 265,648 | 2,675 | |
Genesis Therapeutics, Inc. Series B (b)(c) | 1,654,854 | 7,679 | |
Inscripta, Inc.: | |||
Series D(a)(b)(c) | 1,690,173 | 4,344 | |
Series E(a)(b)(c) | 1,086,476 | 3,575 | |
Intarcia Therapeutics, Inc.: | |||
Series CC(a)(b)(c) | 1,051,411 | 0 | |
Series DD(a)(b)(c) | 1,543,687 | 0 | |
LifeMine Therapeutics, Inc. Series C (a)(b)(c) | 7,794,524 | 12,627 | |
National Resilience, Inc.: | |||
Series B(a)(b)(c) | 1,277,345 | 77,573 | |
Series C(a)(b)(c) | 379,000 | 23,017 | |
Odyssey Therapeutics, Inc.: | |||
Series B(a)(b)(c) | 1,298,749 | 7,325 | |
Series C(b)(c) | 990,319 | 4,961 | |
Quell Therapeutics Ltd. Series B (a)(b)(c) | 3,870,630 | 6,387 | |
Rapport Therapeutics, Inc. Series B (b)(c) | 4,419,398 | 7,071 | |
SalioGen Therapeutics, Inc. Series B (a)(b)(c) | 51,683 | 3,024 | |
Sonoma Biotherapeutics, Inc.: | |||
Series B(a)(b)(c) | 2,497,760 | 6,319 | |
Series B1(a)(b)(c) | 1,332,116 | 3,850 | |
T-Knife Therapeutics, Inc. Series B (a)(b)(c) | 995,165 | 3,384 | |
Treeline Biosciences: | |||
Series A(a)(b)(c) | 1,347,260 | 9,444 | |
Series A1(a)(b)(c) | 464,216 | 3,347 | |
275,139 | |||
Health Care Equipment & Supplies - 0.1% | |||
Blink Health LLC Series C (a)(b)(c) | 927,374 | 43,522 | |
Kardium, Inc. Series D6 (a)(b)(c) | 5,899,008 | 5,486 | |
49,008 | |||
Health Care Providers & Services - 0.0% | |||
Boundless Bio, Inc.: | |||
Series B(a)(b)(c) | 2,899,016 | 2,406 | |
Series C(b)(c) | 7,224,897 | 4,552 | |
Conformal Medical, Inc.: | |||
Series C(a)(b)(c) | 1,067,180 | 4,258 | |
Series D(b)(c) | 82,803 | 385 | |
Scorpion Therapeutics, Inc. Series B (a)(b)(c) | 1,325,354 | 1,763 | |
13,364 | |||
Health Care Technology - 0.1% | |||
Aledade, Inc.: | |||
Series B1(a)(b)(c) | 101,470 | 4,806 | |
Series E1(a)(b)(c) | 66,006 | 3,126 | |
DNA Script: | |||
Series B(a)(b)(c) | 22 | 6 | |
Series C(a)(b)(c) | 10,882 | 4,789 | |
Omada Health, Inc. Series E (a)(b)(c) | 2,558,060 | 9,925 | |
PrognomIQ, Inc.: | |||
Series A5(a)(b)(c) | 372,687 | 570 | |
Series B(a)(b)(c) | 1,111,446 | 2,456 | |
Series C(a)(b)(c) | 290,995 | 739 | |
Wugen, Inc. Series B (a)(b)(c) | 493,529 | 2,631 | |
29,048 | |||
Pharmaceuticals - 0.0% | |||
Agomab Therapeutics SA Series C (b)(c) | 36,687 | 8,335 | |
Castle Creek Pharmaceutical Holdings, Inc.: | |||
Series B(a)(b)(c) | 16,803 | 2,764 | |
Series C(a)(b)(c) | 13,100 | 2,621 | |
Galvanize Therapeutics Series B (a)(b)(c) | 4,342,265 | 6,036 | |
19,756 | |||
TOTAL HEALTH CARE | 386,315 | ||
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.4% | |||
Space Exploration Technologies Corp. Series G (a)(b)(c) | 216,276 | 175,184 | |
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc.: | |||
Series A(a)(b)(c) | 54,111 | 4,872 | |
Series B, 6.00%(a)(b)(c) | 71,156 | 7,002 | |
11,874 | |||
TOTAL INDUSTRIALS | 187,058 | ||
INFORMATION TECHNOLOGY - 0.4% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Enevate Corp. Series E (a)(b)(c) | 4,067,736 | 3,417 | |
Menlo Micro, Inc. Series C (a)(b)(c) | 4,423,488 | 3,362 | |
VAST Data Ltd.: | |||
Series A(b)(c) | 318,221 | 3,500 | |
Series A1(b)(c) | 783,248 | 8,616 | |
Series A2(b)(c) | 900,985 | 9,911 | |
Series B(b)(c) | 716,925 | 7,886 | |
Series C(b)(c) | 20,899 | 230 | |
Series E(b)(c) | 685,070 | 15,072 | |
51,994 | |||
Semiconductors & Semiconductor Equipment - 0.1% | |||
Alif Semiconductor Series C (a)(b)(c) | 190,608 | 3,517 | |
Astera Labs, Inc.: | |||
Series A(a)(b)(c) | 316,595 | 3,191 | |
Series B(a)(b)(c) | 53,906 | 543 | |
Series C(a)(b)(c) | 1,811,000 | 18,255 | |
Series D(a)(b)(c) | 1,074,629 | 10,832 | |
Retym, Inc. Series C (b)(c) | 666,292 | 5,104 | |
SiMa.ai: | |||
Series B(a)(b)(c) | 1,596,216 | 10,200 | |
Series B1(a)(b)(c) | 106,922 | 791 | |
Xsight Labs Ltd. Series D (a)(b)(c) | 787,863 | 3,553 | |
55,986 | |||
Software - 0.2% | |||
ASAPP, Inc. Series D (b)(c) | 1,755,238 | 4,529 | |
Bolt Technology OU Series E (a)(b)(c) | 72,621 | 8,313 | |
Databricks, Inc.: | |||
Series G(a)(b)(c) | 250,296 | 18,397 | |
Series H(a)(b)(c) | 273,171 | 20,078 | |
Dataminr, Inc. Series D (a)(b)(c) | 1,773,901 | 22,883 | |
Evozyne, Inc.: | |||
Series A(a)(b)(c) | 444,700 | 6,515 | |
Series B(b)(c) | 247,942 | 3,833 | |
Skyryse, Inc. Series B (a)(b)(c) | 568,445 | 13,597 | |
Stripe, Inc. Series H (a)(b)(c) | 88,200 | 1,941 | |
100,086 | |||
Technology Hardware, Storage & Peripherals - 0.0% | |||
Lightmatter, Inc. Series C (b)(c) | 407,933 | 7,722 | |
TOTAL INFORMATION TECHNOLOGY | 215,788 | ||
MATERIALS - 0.1% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. Series G (a)(b)(c) | 28,363 | 71 | |
Metals & Mining - 0.1% | |||
Diamond Foundry, Inc. Series C (a)(b)(c) | 1,704,625 | 49,468 | |
TOTAL MATERIALS | 49,539 | ||
UTILITIES - 0.0% | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
Redwood Materials: | |||
Series C(a)(b)(c) | 80,057 | 3,756 | |
Series D(b)(c) | 18,751 | 880 | |
4,636 | |||
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,093,004 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc. Series 1D (a)(b)(c) | 17,893,728 | 578 | |
Waymo LLC Series A2 (a)(b)(c) | 44,767 | 2,537 | |
3,115 | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (a)(b)(c) | 604,608 | 12,334 | |
HEALTH CARE - 0.0% | |||
Pharmaceuticals - 0.0% | |||
Castle Creek Pharmaceutical Holdings, Inc. Series A4 (a)(b)(c) | 46,864 | 7,924 | |
Faraday Pharmaceuticals, Inc. Series B (a)(b)(c) | 641,437 | 712 | |
8,636 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Pine Labs Private Ltd.: | |||
Series 1(a)(b)(c) | 9,846 | 3,208 | |
Series A(a)(b)(c) | 2,460 | 802 | |
Series B(a)(b)(c) | 2,677 | 872 | |
Series B2(a)(b)(c) | 2,165 | 705 | |
Series C(a)(b)(c) | 4,028 | 1,312 | |
Series C1(a)(b)(c) | 848 | 276 | |
Series D(a)(b)(c) | 907 | 296 | |
7,471 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 31,556 | ||
TOTAL PREFERRED STOCKS (Cost $1,057,384) | 1,124,560 | ||
Corporate Bonds - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
Convertible Bonds - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27(b)(c) | 3,596 | 4,811 | |
4% 6/12/27(b)(c) | 743 | 994 | |
5.5% 10/29/26(b)(c)(i) | 8,140 | 8,099 | |
13,904 | |||
INFORMATION TECHNOLOGY - 0.0% | |||
Software - 0.0% | |||
Evozyne, Inc. 6% 9/13/28 (b)(c) | 3,841 | 3,875 | |
MATERIALS - 0.0% | |||
Chemicals - 0.0% | |||
Farmers Business Network, Inc. 15% 9/28/25 (b)(c) | 739 | 1,140 | |
TOTAL CONVERTIBLE BONDS | 18,919 | ||
Nonconvertible Bonds - 0.0% | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (b)(c) | 945 | 941 | |
TOTAL CORPORATE BONDS (Cost $18,004) | 19,860 | ||
Preferred Securities - 0.0% | |||
Principal Amount (h) (000s) | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Rad Power Bikes, Inc. 8% 12/31/25 (b)(c) | 986 | 1,793 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Tenstorrent Holdings, Inc. 5% 11/6/25 (b)(c) | 3,060 | 3,090 | |
HEALTH CARE - 0.0% | |||
Biotechnology - 0.0% | |||
Intarcia Therapeutics, Inc. 6% (b)(c)(j) | 13,682 | 0 | |
Health Care Equipment & Supplies - 0.0% | |||
Kardium, Inc. 0% (b)(c)(k) | 8,368 | 7,657 | |
TOTAL HEALTH CARE | 7,657 | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
Enevate Corp. 6% (b)(c)(k) | 212 | 214 | |
TOTAL PREFERRED SECURITIES (Cost $26,308) | 12,754 | ||
Money Market Funds - 1.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (l) | 735,084 | 735 | |
Fidelity Securities Lending Cash Central Fund 5.39% (l)(m) | 682,372,134 | 682,440 | |
TOTAL MONEY MARKET FUNDS (Cost $683,171) | 683,175 | ||
TOTAL INVESTMENT IN SECURITIES - 101.2% (Cost $19,614,121) | 51,601,468 |
NET OTHER ASSETS (LIABILITIES) - (1.2)% | (631,701) |
NET ASSETS - 100.0% | 50,969,767 |
(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 $1,775,435,000 or 3.5% 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 $171,652,000 or 0.3% of net assets. |
(g) | Affiliated company |
(h) | Amount is stated in United States dollars unless otherwise noted. |
(i) | Security initially issued at one coupon which converts to a higher coupon at a specified date. The rate shown is the rate at period end. |
(j) | Non-income producing - Security is in default. |
(k) | Security is perpetual in nature with no stated maturity date. |
(l) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(m) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Adimab LLC | 9/17/14 - 6/05/15 | 47,869 |
AgBiome LLC Series C | 6/29/18 | 6,716 |
AgBiome LLC Series D | 9/03/21 | 5,053 |
Agomab Therapeutics SA Series C | 10/03/23 | 8,010 |
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 | 6,690 |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 945 |
ASAPP, Inc. warrants 8/28/28 | 8/29/23 | 0 |
ASAPP, Inc. Series D | 8/29/23 | 6,778 |
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 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 670 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
Bright Peak Therapeutics AG Series B | 5/14/21 | 4,972 |
ByteDance Ltd. Series E1 | 11/18/20 | 44,208 |
Canva, Inc. Series A | 9/22/23 | 3,594 |
Canva, Inc. Series A2 | 9/22/23 | 652 |
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 |
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 |
CoreWeave, Inc. | 11/29/23 | 31,622 |
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. (unlisted) | 5/03/23 | 4,878 |
Discord, Inc. Series I | 9/15/21 | 3,854 |
DNA Script | 12/17/21 | 1,788 |
DNA Script Series B | 12/17/21 | 18 |
DNA Script Series C | 10/01/21 | 9,466 |
Dragonfly Therapeutics, Inc. | 12/19/19 | 12,746 |
Element Biosciences, Inc. Series B | 12/13/19 | 5,745 |
Element Biosciences, Inc. Series C | 6/21/21 | 9,869 |
ElevateBio LLC Series C | 3/09/21 | 6,436 |
Enevate Corp. Series E | 1/29/21 | 4,510 |
Enevate Corp. 6% | 11/02/23 | 212 |
Epic Games, Inc. | 7/13/20 - 7/30/20 | 29,786 |
Evozyne, Inc. Series A | 4/09/21 | 9,992 |
Evozyne, Inc. Series B | 9/14/23 | 3,841 |
Evozyne, Inc. 6% 9/13/28 | 9/14/23 | 3,841 |
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. warrants 9/27/33 | 9/29/23 | 0 |
Farmers Business Network, Inc. Series G | 9/15/21 | 1,763 |
Farmers Business Network, Inc. 15% 9/28/25 | 9/29/23 | 739 |
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 |
Generate Biomedicines Series B | 11/02/21 | 9,726 |
Generate Biomedicines Series C | 6/05/23 | 3,148 |
Genesis Therapeutics, Inc. Series B | 8/10/23 | 8,452 |
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 |
Intarcia Therapeutics, Inc. Series CC | 11/14/12 | 14,331 |
Intarcia Therapeutics, Inc. Series DD | 3/17/14 | 50,000 |
Intarcia Therapeutics, Inc. 6% | 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 |
Kartos Therapeutics, Inc. Series C | 8/22/23 | 6,936 |
Korro Bio, Inc. | 7/14/23 | 3,315 |
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 |
Morphimmune, Inc. | 6/29/23 | 6,629 |
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. 5.5% 10/29/26 | 10/29/21 - 10/27/23 | 8,139 |
Odyssey Therapeutics, Inc. Series B | 9/30/22 | 8,203 |
Odyssey Therapeutics, Inc. Series C | 10/25/23 | 4,952 |
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. warrants 10/6/33 | 10/06/23 | 0 |
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 |
Rad Power Bikes, Inc. 8% 12/31/25 | 10/06/23 | 986 |
Rapport Therapeutics, Inc. Series B | 8/11/23 | 7,413 |
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 |
Redwood Materials Series D | 6/02/23 | 895 |
Retym, Inc. Series C | 5/17/23 - 6/20/23 | 5,185 |
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 | 31,727 |
Space Exploration Technologies Corp. Series G | 1/20/15 | 16,753 |
Spyre Therapeutics, Inc. | 6/22/23 | 5,123 |
Stripe, Inc. Class B | 5/18/21 | 8,246 |
Stripe, Inc. Series H | 3/15/21 | 3,539 |
Structure Therapeutics, Inc. | 9/29/23 | 3,468 |
T-Knife Therapeutics, Inc. Series B | 6/30/21 | 5,741 |
Tango Therapeutics, Inc. | 8/09/23 | 2,800 |
Tenstorrent Holdings, Inc. Series C1 | 4/23/21 | 10,596 |
Tenstorrent Holdings, Inc. 5% 11/6/25 | 11/06/23 | 3,060 |
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 |
VAST Data Ltd. Series A | 11/28/23 | 3,500 |
VAST Data Ltd. Series A1 | 11/28/23 | 8,616 |
VAST Data Ltd. Series A2 | 11/28/23 | 9,911 |
VAST Data Ltd. Series B | 11/28/23 | 7,886 |
VAST Data Ltd. Series C | 11/28/23 | 230 |
VAST Data Ltd. Series E | 11/28/23 | 15,072 |
Waymo LLC Series A2 | 5/08/20 | 3,844 |
Wugen, Inc. Series B | 7/09/21 | 3,827 |
X Holdings Corp. | 10/27/21 | 8,414 |
Xsight Labs Ltd. Series D | 2/16/21 | 6,300 |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 93,313 | 2,149,875 | 2,242,453 | 3,492 | - | - | 735 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 302,714 | 2,447,218 | 2,067,492 | 3,039 | - | - | 682,440 | 2.6% |
Total | 396,027 | 4,597,093 | 4,309,945 | 6,531 | - | - | 683,175 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
Kineta, Inc. | 1,011 | 2 | 255 | 802 | (3,655) | 3,020 | - |
Nutanix, Inc. Class A | 336,414 | 24,074 | 13,941 | - | 2,769 | 176,037 | 525,353 |
Presbia PLC | 16 | - | - | - | - | (16) | - |
Silicon Laboratories, Inc. | 246,398 | 2,383 | 23,000 | - | 12,872 | (73,339) | - |
Total | 583,839 | 26,459 | 37,196 | 802 | 11,986 | 105,702 | 525,353 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 5,190,330 | 5,040,718 | - | 149,612 |
Consumer Discretionary | 9,883,240 | 9,711,197 | 212 | 171,831 |
Consumer Staples | 1,457,097 | 1,434,262 | 7,424 | 15,411 |
Energy | 686,795 | 686,795 | - | - |
Financials | 1,549,852 | 1,484,808 | - | 65,044 |
Health Care | 6,340,777 | 5,819,634 | 22,820 | 498,323 |
Industrials | 2,316,756 | 1,798,524 | 42,424 | 475,808 |
Information Technology | 23,083,381 | 22,817,674 | - | 265,707 |
Materials | 314,331 | 262,537 | - | 51,794 |
Real Estate | 58,484 | 58,484 | - | - |
Utilities | 4,636 | - | - | 4,636 |
Corporate Bonds | 19,860 | - | - | 19,860 |
Preferred Securities | 12,754 | - | - | 12,754 |
Money Market Funds | 683,175 | 683,175 | - | - |
Total Investments in Securities: | 51,601,468 | 49,797,808 | 72,880 | 1,730,780 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Beginning Balance | $ | 1,700,159 | |
Net Realized Gain (Loss) on Investment Securities | 41,154 | ||
Net Unrealized Gain (Loss) on Investment Securities | (107,320) | ||
Cost of Purchases | 167,436 | ||
Proceeds of Sales | (67,706) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | 29,754 | ||
Transfers out of Level 3 | (32,697) | ||
Ending Balance | $ | 1,730,780 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (108,229) | |
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 consolidated Statement of Operations. |
Consolidated Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $656,768) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $18,485,083) | $ | 50,392,940 | ||
Fidelity Central Funds (cost $683,171) | 683,175 | |||
Other affiliated issuers (cost $445,867) | 525,353 | |||
Total Investment in Securities (cost $19,614,121) | $ | 51,601,468 | ||
Restricted cash | 702 | |||
Receivable for investments sold | 57,420 | |||
Receivable for fund shares sold | 12,037 | |||
Dividends receivable | 27,085 | |||
Interest receivable | 729 | |||
Distributions receivable from Fidelity Central Funds | 745 | |||
Prepaid expenses | 59 | |||
Other receivables | 1,675 | |||
Total assets | 51,701,920 | |||
Liabilities | ||||
Payable for investments purchased | $ | 11,698 | ||
Payable for fund shares redeemed | 14,319 | |||
Accrued management fee | 13,537 | |||
Other affiliated payables | 3,935 | |||
Other payables and accrued expenses | 6,281 | |||
Collateral on securities loaned | 682,383 | |||
Total Liabilities | 732,153 | |||
Net Assets | $ | 50,969,767 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 17,239,794 | ||
Total accumulated earnings (loss) | 33,729,973 | |||
Net Assets | $ | 50,969,767 | ||
Net Asset Value and Maximum Offering Price | ||||
Growth Company : | ||||
Net Asset Value, offering price and redemption price per share ($43,116,057 ÷ 1,378,740 shares) | $ | 31.27 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($7,853,710 ÷ 249,893 shares) | $ | 31.43 |
Consolidated Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends (including $802 earned from affiliated issuers) | $ | 218,618 | ||
Interest | 1,456 | |||
Income from Fidelity Central Funds (including $3,039 from security lending) | 6,531 | |||
Total Income | 226,605 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 238,957 | ||
Performance adjustment | 36,489 | |||
Transfer agent fees | 43,587 | |||
Accounting fees | 2,169 | |||
Custodian fees and expenses | 658 | |||
Independent trustees' fees and expenses | 267 | |||
Registration fees | 216 | |||
Audit | 293 | |||
Legal | 42 | |||
Interest | 79 | |||
Miscellaneous | 361 | |||
Total expenses before reductions | 323,118 | |||
Expense reductions | (2,770) | |||
Total expenses after reductions | 320,348 | |||
Net Investment income (loss) | (93,743) | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $3,266) | 2,143,214 | |||
Redemptions in-kind | 915,351 | |||
Affiliated issuers | 11,986 | |||
Foreign currency transactions | 270 | |||
Total net realized gain (loss) | 3,070,821 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $2,686) | 7,733,421 | |||
Affiliated issuers | 105,702 | |||
Assets and liabilities in foreign currencies | (128) | |||
Total change in net unrealized appreciation (depreciation) | 7,838,995 | |||
Net gain (loss) | 10,909,816 | |||
Net increase (decrease) in net assets resulting from operations | $ | 10,816,073 |
Consolidated Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | (93,743) | $ | (151,861) |
Net realized gain (loss) | 3,070,821 | 4,914,313 | ||
Change in net unrealized appreciation (depreciation) | 7,838,995 | (24,910,772) | ||
Net increase (decrease) in net assets resulting from operations | 10,816,073 | (20,148,320) | ||
Distributions to shareholders | (2,600,954) | (6,433,347) | ||
Share transactions - net increase (decrease) | 78,916 | (581,831) | ||
Total increase (decrease) in net assets | 8,294,035 | (27,163,498) | ||
Net Assets | ||||
Beginning of period | 42,675,732 | 69,839,230 | ||
End of period | $ | 50,969,767 | $ | 42,675,732 |
Fidelity® Growth Company Fund |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 26.47 | $ | 41.75 | $ | 34.49 | $ | 21.54 | $ | 18.79 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.06) | (.09) | (.14) C | (.10) | (.04) | |||||
Net realized and unrealized gain (loss) | 6.48 | (11.30) | 10.31 | 13.87 | 3.81 | |||||
Total from investment operations | 6.42 | (11.39) | 10.17 | 13.77 | 3.77 | |||||
Distributions from net realized gain | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | |||||
Total distributions | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | |||||
Net asset value, end of period | $ | 31.27 | $ | 26.47 | $ | 41.75 | $ | 34.49 | $ | 21.54 |
Total Return D | 26.74% | (29.90)% | 31.76% | 66.23% | 22.05% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .72% | .86% | .79% | .83% | .83% | |||||
Expenses net of fee waivers, if any | .71% | .86% | .79% | .83% | .83% | |||||
Expenses net of all reductions | .71% | .86% | .79% | .83% | .83% | |||||
Net investment income (loss) | (.22)% | (.32)% | (.38)% C | (.41)% | (.20)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 43,116 | $ | 34,900 | $ | 53,845 | $ | 43,533 | $ | 28,861 |
Portfolio turnover rate G,H | 12% | 14% | 16% | 18% | 16% |
Fidelity® Growth Company Fund Class K |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 26.59 | $ | 41.89 | $ | 34.57 | $ | 21.57 | $ | 18.80 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | (.04) | (.07) | (.12) C | (.08) | (.02) | |||||
Net realized and unrealized gain (loss) | 6.50 | (11.34) | 10.35 | 13.90 | 3.81 | |||||
Total from investment operations | 6.46 | (11.41) | 10.23 | 13.82 | 3.79 | |||||
Distributions from net realized gain | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | |||||
Total distributions | (1.62) | (3.89) | (2.91) | (.82) | (1.02) | |||||
Net asset value, end of period | $ | 31.43 | $ | 26.59 | $ | 41.89 | $ | 34.57 | $ | 21.57 |
Total Return D | 26.77% | (29.85)% | 31.87% | 66.37% | 22.15% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .65% | .79% | .73% | .75% | .75% | |||||
Expenses net of fee waivers, if any | .65% | .79% | .72% | .75% | .75% | |||||
Expenses net of all reductions | .65% | .79% | .72% | .75% | .75% | |||||
Net investment income (loss) | (.15)% | (.26)% | (.32)% C | (.33)% | (.12)% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 7,854 | $ | 7,776 | $ | 15,994 | $ | 18,449 | $ | 14,772 |
Portfolio turnover rate G,H | 12% | 14% | 16% | 18% | 16% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $1,698,166 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 6.5 - 13.5 / 12.0 | Increase |
Enterprise value/Revenue multiple (EV/R) | 1.1 - 21.6 / 6.7 | Increase | |||
Market approach | Transaction price | $0.70 - $309.86 / $53.07 | Increase | ||
Discount rate | 5.0% - 65.0% / 22.6% | Decrease | |||
Premium rate | 10.0% - 35.0% / 21.9% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Discounted cash flow | Discount rate | 5.3% - 75.0% / 19.4% | Decrease | ||
Term | 1.1 - 8.3 / 3.0 | Increase | |||
Weighted average cost of capital (WACC) | 43.5% | Decrease | |||
Probability rate | 6.0% - 70.0% / 36.7% | Increase | |||
Exit multiple | 1.5 | Increase | |||
Black scholes | Discount rate | 4.2% - 5.1% / 4.7% | Increase | ||
Volatility | 45.0% - 100.0% / 74.4% | Increase | |||
Term | 1.5 - 5.0 / 2.9 | Increase | |||
Recovery value | Recovery value | $0.00 - $0.21 / $0.02 | Increase | ||
Book value | Book value multiple | 1.9 | Increase | ||
Corporate Bonds | $19,860 | Market comparable | Discount rate | 29.2% | Decrease |
Enterprise value/Revenue multiple (EV/R) | 1.4 - 2.6 / 2.5 | Increase | |||
Probability rate | 10.0% - 75.0% / 33.3% | Increase | |||
Market approach | Transaction price | $100.00 | Increase | ||
Discount rate | 20.2% | Decrease | |||
Probability rate | 10.0% - 70.0% / 33.3% | Increase | |||
Discounted cash flow | Discount rate | 4.1% | Decrease | ||
Black scholes | Discount rate | 4.6% | Increase | ||
Volatility | 70.0% - 75.0% / 73.4% | Increase | |||
Term | 1.3 - 3.0 / 1.9 | Increase | |||
Preferred Securities | $12,754 | Market comparable | Enterprise value/Revenue multiple (EV/R) | 1.5 | Increase |
Market approach | Transaction price | $1.10 - $100.00 / $98.06 | Increase | ||
Discount rate | 10.0% - 30.0% / 15.2% | Decrease | |||
Probability rate | 10.0% - 60.0% / 33.3% | Increase | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Black scholes | Discount rate | 4.6% - 5.1% / 4.8% | Increase | ||
Volatility | 60.0% - 100.0% / 69.1% | Increase | |||
Term | 1.5 - 3.0 / 2.5 | Increase | |||
Recovery value | Recovery value | $0.00 | Increase |
Fidelity Growth Company Fund | $1,647 |
Gross unrealized appreciation | $34,573,299 |
Gross unrealized depreciation | (2,747,750) |
Net unrealized appreciation (depreciation) | $31,825,549 |
Tax Cost | $19,775,919 |
Undistributed long-term capital gain | $1,982,096 |
Net unrealized appreciation (depreciation) on securities and other investments | $31,825,327 |
November 30, 2023 | November 30, 2022 | |
Long-term Capital Gains | $2,600,954 | $6,433,347 |
Total | $2,600,954 | $6,433,347 |
$ Amount | % of Net Assets | |
Fidelity Growth Company Fund | 141,472 | .28 |
Purchases ($) | Sales ($) | |
Fidelity Growth Company Fund | 5,615,068 | 6,841,380 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Growth Company Fund | 51,579 | 915,351 | 1,347,973 | Growth Company and 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 | |
Growth Company | $40,450 | .11 |
Class K | 3,137 | .04 |
$43,587 |
% of Class-Level Average Net Assets | |
Growth Company | 0.1049% |
% of Average Net Assets | |
Fidelity Growth Company Fund | -A |
% of Average Net Assets | |
Fidelity Growth Company Fund | 0.0044% |
Amount | |
Fidelity Growth Company Fund | $172 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Growth Company Fund | Borrower | $39,737 | 4.77% | $79 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Growth Company Fund | 1,100,714 | 552,982 | 223,142 |
Amount | |
Fidelity Growth Company Fund | $80 |
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 | $328 | $128 | $5,423 |
Year ended November 30, 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 | |
Year ended November 30, 2023 | Year ended November 30, 2022 | Year ended November 30, 2023 | Year ended November 30, 2022 | |
Fidelity Growth Company Fund | ||||
Growth Company | ||||
Shares sold | 121,673 | 159,105 | $3,350,704 | $4,503,361 |
Reinvestment of distributions | 88,689 | 123,271 | 1,971,548 | 4,540,077 |
Shares redeemed | (149,856) | (253,813) | (4,055,528) | (7,313,072) |
Net increase (decrease) | 60,506 | 28,563 | $1,266,724 | $1,730,366 |
Class K | ||||
Shares sold | 36,096 | 40,502 | $998,876 | $1,203,828 |
Reinvestment of distributions | 20,509 | 39,098 | 458,166 | 1,445,449 |
Shares redeemed | (99,174) | (168,994) | (2,644,850) | (4,961,474) |
Net increase (decrease) | (42,569) | (89,394) | $(1,187,808) | $(2,312,197) |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity Growth Company Fund | 19% |
Fund | % of shares held |
Fidelity Growth Company Fund | 24% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Growth Company Fund | ||||||||||
Fidelity® Growth Company Fund | .57% | |||||||||
Actual | $ 1,000 | $ 1,100.70 | $ 3.00 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.21 | $ 2.89 | |||||||
Class K | .49% | |||||||||
Actual | $ 1,000 | $ 1,100.90 | $ 2.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.61 | $ 2.48 | |||||||
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 | 84.000 |
Against | 3,153,408,865.270 | 12.000 |
Abstain | 1,046,057,621.270 | 4.000 |
TOTAL | 26,629,016,239.030 | 100.000 |
Contents
Average Annual Total Returns | |||
Periods ended November 30, 2023 | Past 1 year | Past 5 years | Past 10 years |
Fidelity® New Millennium Fund® | 14.66% | 12.21% | 10.36% |
$10,000 Over 10 Years |
Let's say hypothetically that $10,000 was invested in Fidelity® New Millennium Fund® on November 30, 2013. The chart shows how the value of your investment would have changed, and also shows how the S&P 500® Index performed over the same period. |
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.8 | |
Apple, Inc. | 4.5 | |
NVIDIA Corp. | 3.3 | |
Amazon.com, Inc. | 3.1 | |
Meta Platforms, Inc. Class A | 2.4 | |
Alphabet, Inc. Class A | 2.3 | |
Eli Lilly & Co. | 2.0 | |
UnitedHealth Group, Inc. | 1.8 | |
Visa, Inc. Class A | 1.6 | |
Exxon Mobil Corp. | 1.5 | |
30.3 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 27.8 | |
Industrials | 14.1 | |
Health Care | 11.7 | |
Consumer Discretionary | 10.4 | |
Financials | 9.5 | |
Communication Services | 9.0 | |
Consumer Staples | 5.4 | |
Energy | 4.9 | |
Materials | 3.5 | |
Utilities | 2.1 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.6% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 9.0% | |||
Entertainment - 3.2% | |||
Endeavor Group Holdings, Inc. | 582,817 | 14,168 | |
Netflix, Inc. (a) | 80,800 | 38,297 | |
Spotify Technology SA (a) | 79,300 | 14,679 | |
The Walt Disney Co. | 233,300 | 21,625 | |
TKO Group Holdings, Inc. | 149,700 | 11,576 | |
Universal Music Group NV | 595,500 | 15,734 | |
116,079 | |||
Interactive Media & Services - 4.7% | |||
Alphabet, Inc. Class A (a) | 625,800 | 82,937 | |
Meta Platforms, Inc. Class A (a) | 266,700 | 87,251 | |
170,188 | |||
Media - 1.1% | |||
Comcast Corp. Class A | 971,900 | 40,713 | |
TOTAL COMMUNICATION SERVICES | 326,980 | ||
CONSUMER DISCRETIONARY - 10.4% | |||
Automobile Components - 0.7% | |||
Aptiv PLC (a) | 291,700 | 24,164 | |
Broadline Retail - 3.1% | |||
Amazon.com, Inc. (a) | 788,000 | 115,119 | |
Hotels, Restaurants & Leisure - 2.4% | |||
Airbnb, Inc. Class A (a) | 124,200 | 15,691 | |
Booking Holdings, Inc. (a) | 6,400 | 20,004 | |
Chipotle Mexican Grill, Inc. (a) | 6,700 | 14,755 | |
Churchill Downs, Inc. | 96,818 | 11,209 | |
Hilton Worldwide Holdings, Inc. | 101,100 | 16,936 | |
Yum! Brands, Inc. | 61,101 | 7,671 | |
86,266 | |||
Household Durables - 0.7% | |||
Lennar Corp. Class A | 98,700 | 12,626 | |
NVR, Inc. (a) | 2,310 | 14,219 | |
26,845 | |||
Specialty Retail - 1.9% | |||
Dick's Sporting Goods, Inc. | 99,800 | 12,984 | |
Floor & Decor Holdings, Inc. Class A (a)(b) | 79,200 | 7,263 | |
Industria de Diseno Textil SA | 392,100 | 16,180 | |
TJX Companies, Inc. | 374,686 | 33,014 | |
69,441 | |||
Textiles, Apparel & Luxury Goods - 1.6% | |||
Bolt Threads, Inc. (a)(c)(d) | 91,280 | 358 | |
Brunello Cucinelli SpA | 287,400 | 23,775 | |
NIKE, Inc. Class B | 242,200 | 26,707 | |
Ralph Lauren Corp. | 65,200 | 8,436 | |
59,276 | |||
TOTAL CONSUMER DISCRETIONARY | 381,111 | ||
CONSUMER STAPLES - 5.3% | |||
Beverages - 1.8% | |||
Boston Beer Co., Inc. Class A (a) | 29,400 | 10,430 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 28,892 | 6,948 | |
Keurig Dr. Pepper, Inc. | 688,000 | 21,720 | |
The Coca-Cola Co. | 454,200 | 26,543 | |
65,641 | |||
Consumer Staples Distribution & Retail - 1.9% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 202,000 | 11,522 | |
BJ's Wholesale Club Holdings, Inc. (a) | 320,600 | 20,704 | |
Maplebear, Inc. (b) | 102,900 | 2,489 | |
Performance Food Group Co. (a) | 300,500 | 19,548 | |
Walmart, Inc. | 112,800 | 17,562 | |
71,825 | |||
Food Products - 0.0% | |||
Bowery Farming, Inc. warrants (a)(c)(d) | 211,678 | 874 | |
Household Products - 0.5% | |||
The Clorox Co. | 120,400 | 17,259 | |
Personal Care Products - 1.1% | |||
Estee Lauder Companies, Inc. Class A | 67,100 | 8,568 | |
Kenvue, Inc. | 1,497,900 | 30,617 | |
39,185 | |||
TOTAL CONSUMER STAPLES | 194,784 | ||
ENERGY - 4.9% | |||
Energy Equipment & Services - 1.6% | |||
Baker Hughes Co. Class A | 734,800 | 24,800 | |
Schlumberger Ltd. | 427,828 | 22,264 | |
TechnipFMC PLC | 542,286 | 11,236 | |
58,300 | |||
Oil, Gas & Consumable Fuels - 3.3% | |||
Antero Resources Corp. (a) | 381,600 | 9,017 | |
Canadian Natural Resources Ltd. (b) | 250,300 | 16,714 | |
Cheniere Energy, Inc. | 112,926 | 20,569 | |
Exxon Mobil Corp. | 553,300 | 56,846 | |
Hess Corp. | 83,500 | 11,737 | |
New Fortress Energy, Inc. | 154,800 | 5,957 | |
120,840 | |||
TOTAL ENERGY | 179,140 | ||
FINANCIALS - 9.5% | |||
Banks - 2.7% | |||
Bank of America Corp. | 999,700 | 30,481 | |
JPMorgan Chase & Co. | 212,700 | 33,198 | |
Wells Fargo & Co. | 816,168 | 36,393 | |
100,072 | |||
Capital Markets - 1.4% | |||
Ares Management Corp. | 129,200 | 14,503 | |
Goldman Sachs Group, Inc. | 21,300 | 7,275 | |
Houlihan Lokey | 95,500 | 10,287 | |
Morgan Stanley | 239,100 | 18,970 | |
51,035 | |||
Financial Services - 3.0% | |||
Fiserv, Inc. (a) | 285,901 | 37,342 | |
Shift4 Payments, Inc. (a) | 202,700 | 13,342 | |
Visa, Inc. Class A | 230,400 | 59,139 | |
109,823 | |||
Insurance - 2.4% | |||
Arch Capital Group Ltd. (a) | 148,000 | 12,386 | |
Chubb Ltd. | 200,409 | 45,980 | |
First American Financial Corp. | 121,700 | 7,253 | |
Marsh & McLennan Companies, Inc. | 103,000 | 20,540 | |
86,159 | |||
TOTAL FINANCIALS | 347,089 | ||
HEALTH CARE - 11.3% | |||
Biotechnology - 1.1% | |||
Gilead Sciences, Inc. | 136,300 | 10,441 | |
Legend Biotech Corp. ADR (a) | 74,500 | 4,531 | |
Regeneron Pharmaceuticals, Inc. (a) | 31,700 | 26,115 | |
41,087 | |||
Health Care Equipment & Supplies - 2.2% | |||
Boston Scientific Corp. (a) | 774,868 | 43,307 | |
Hologic, Inc. (a) | 138,316 | 9,862 | |
Masimo Corp. (a) | 38,300 | 3,591 | |
Stryker Corp. | 81,200 | 24,062 | |
80,822 | |||
Health Care Providers & Services - 3.0% | |||
agilon health, Inc. (a) | 407,100 | 4,323 | |
Centene Corp. (a) | 254,200 | 18,729 | |
Cigna Group | 63,100 | 16,588 | |
LifeStance Health Group, Inc. (a) | 343,654 | 2,361 | |
UnitedHealth Group, Inc. | 119,700 | 66,191 | |
108,192 | |||
Health Care Technology - 0.1% | |||
Evolent Health, Inc. | 142,400 | 3,959 | |
Life Sciences Tools & Services - 2.0% | |||
Danaher Corp. | 128,800 | 28,762 | |
Thermo Fisher Scientific, Inc. | 71,100 | 35,249 | |
West Pharmaceutical Services, Inc. | 22,300 | 7,822 | |
71,833 | |||
Pharmaceuticals - 2.9% | |||
AstraZeneca PLC (United Kingdom) | 129,800 | 16,706 | |
Eli Lilly & Co. | 121,900 | 72,048 | |
Merck & Co., Inc. | 88,100 | 9,028 | |
Novo Nordisk A/S Series B | 90,100 | 9,205 | |
106,987 | |||
TOTAL HEALTH CARE | 412,880 | ||
INDUSTRIALS - 13.8% | |||
Aerospace & Defense - 4.0% | |||
BWX Technologies, Inc. | 133,200 | 10,394 | |
Howmet Aerospace, Inc. | 331,700 | 17,447 | |
Lockheed Martin Corp. | 40,200 | 18,000 | |
Northrop Grumman Corp. | 32,900 | 15,633 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(c)(d) | 585,890 | 47,457 | |
Class C (a)(c)(d) | 8,180 | 663 | |
The Boeing Co. (a) | 159,300 | 36,899 | |
146,493 | |||
Building Products - 0.8% | |||
Builders FirstSource, Inc. (a) | 86,200 | 11,560 | |
Fortune Brands Home & Security, Inc. | 116,700 | 7,986 | |
Trane Technologies PLC | 40,200 | 9,061 | |
28,607 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 160,700 | 30,261 | |
Willscot Mobile Mini Holdings (a) | 266,975 | 11,138 | |
41,399 | |||
Electrical Equipment - 2.2% | |||
Eaton Corp. PLC | 162,700 | 37,045 | |
Generac Holdings, Inc. (a) | 186,500 | 21,834 | |
Prysmian SpA | 158,300 | 6,088 | |
Vertiv Holdings Co. | 339,900 | 14,840 | |
79,807 | |||
Ground Transportation - 1.0% | |||
Uber Technologies, Inc. (a) | 661,800 | 37,312 | |
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 261,812 | 31,889 | |
Machinery - 2.4% | |||
Caterpillar, Inc. | 94,500 | 23,693 | |
Ingersoll Rand, Inc. | 282,820 | 20,202 | |
ITT, Inc. | 120,600 | 13,057 | |
Parker Hannifin Corp. | 70,800 | 30,669 | |
87,621 | |||
Professional Services - 1.1% | |||
FTI Consulting, Inc. (a) | 76,220 | 16,803 | |
KBR, Inc. | 291,200 | 15,046 | |
WNS Holdings Ltd. sponsored ADR (a) | 113,100 | 6,727 | |
38,576 | |||
Trading Companies & Distributors - 0.3% | |||
United Rentals, Inc. | 25,000 | 11,901 | |
TOTAL INDUSTRIALS | 503,605 | ||
INFORMATION TECHNOLOGY - 27.8% | |||
Communications Equipment - 0.5% | |||
Cisco Systems, Inc. | 381,063 | 18,436 | |
Electronic Equipment, Instruments & Components - 1.1% | |||
Flex Ltd. (a) | 737,800 | 18,777 | |
Jabil, Inc. | 197,800 | 22,810 | |
41,587 | |||
IT Services - 1.0% | |||
MongoDB, Inc. Class A (a) | 23,600 | 9,811 | |
Shopify, Inc. Class A (a) | 344,900 | 25,116 | |
34,927 | |||
Semiconductors & Semiconductor Equipment - 7.3% | |||
Advanced Micro Devices, Inc. (a) | 317,300 | 38,444 | |
Analog Devices, Inc. | 102,400 | 18,778 | |
First Solar, Inc. (a) | 49,200 | 7,763 | |
Marvell Technology, Inc. | 173,147 | 9,649 | |
NVIDIA Corp. | 257,300 | 120,339 | |
NXP Semiconductors NV | 117,076 | 23,893 | |
ON Semiconductor Corp. (a) | 309,600 | 22,084 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 205,500 | 19,997 | |
Teradyne, Inc. | 74,600 | 6,880 | |
267,827 | |||
Software - 13.4% | |||
Adobe, Inc. (a) | 86,500 | 52,852 | |
CoreWeave, Inc. (c)(d) | 11,162 | 3,459 | |
Dynatrace, Inc. (a) | 285,500 | 15,289 | |
Intuit, Inc. | 54,000 | 30,859 | |
Microsoft Corp. | 756,100 | 286,498 | |
Oracle Corp. | 276,100 | 32,086 | |
Salesforce, Inc. (a) | 139,500 | 35,140 | |
Synopsys, Inc. (a) | 31,800 | 17,275 | |
Workday, Inc. Class A (a) | 59,700 | 16,162 | |
489,620 | |||
Technology Hardware, Storage & Peripherals - 4.5% | |||
Apple, Inc. | 864,100 | 164,136 | |
TOTAL INFORMATION TECHNOLOGY | 1,016,533 | ||
MATERIALS - 3.5% | |||
Chemicals - 1.5% | |||
Celanese Corp. Class A | 116,700 | 16,182 | |
Element Solutions, Inc. | 340,200 | 7,131 | |
Linde PLC | 73,000 | 30,205 | |
53,518 | |||
Construction Materials - 0.5% | |||
Martin Marietta Materials, Inc. | 34,900 | 16,214 | |
Containers & Packaging - 0.5% | |||
Avery Dennison Corp. | 68,100 | 13,245 | |
O-I Glass, Inc. (a) | 380,008 | 5,609 | |
18,854 | |||
Metals & Mining - 1.0% | |||
Franco-Nevada Corp. | 111,600 | 12,499 | |
Freeport-McMoRan, Inc. | 679,889 | 25,373 | |
37,872 | |||
TOTAL MATERIALS | 126,458 | ||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 0.7% | |||
Essex Property Trust, Inc. | 26,900 | 5,742 | |
Gaming & Leisure Properties | 190,383 | 8,897 | |
Terreno Realty Corp. | 185,700 | 10,605 | |
25,244 | |||
Real Estate Management & Development - 0.3% | |||
CBRE Group, Inc. (a) | 152,900 | 12,073 | |
TOTAL REAL ESTATE | 37,317 | ||
UTILITIES - 2.1% | |||
Electric Utilities - 1.5% | |||
Constellation Energy Corp. | 206,200 | 24,958 | |
Southern Co. | 427,408 | 30,337 | |
55,295 | |||
Independent Power and Renewable Electricity Producers - 0.6% | |||
Vistra Corp. | 616,600 | 21,834 | |
TOTAL UTILITIES | 77,129 | ||
TOTAL COMMON STOCKS (Cost $2,743,497) | 3,603,026 | ||
Convertible Preferred Stocks - 0.8% | |||
Shares | Value ($) (000s) | ||
CONSUMER STAPLES - 0.1% | |||
Food Products - 0.1% | |||
Bowery Farming, Inc.: | |||
Series C1 (a)(c)(d) | 161,754 | 1,286 | |
Series D1 (c)(d) | 211,678 | 1,126 | |
2,412 | |||
HEALTH CARE - 0.4% | |||
Biotechnology - 0.4% | |||
National Resilience, Inc. Series B (a)(c)(d) | 243,347 | 14,778 | |
INDUSTRIALS - 0.3% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(c)(d) | 7,570 | 6,132 | |
Construction & Engineering - 0.1% | |||
Beta Technologies, Inc. Series B, 6.00% (a)(c)(d) | 49,853 | 4,906 | |
TOTAL INDUSTRIALS | 11,038 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $21,235) | 28,228 | ||
Money Market Funds - 1.2% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.40% (e) | 24,841,925 | 24,847 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 21,217,332 | 21,219 | |
TOTAL MONEY MARKET FUNDS (Cost $46,066) | 46,066 | ||
TOTAL INVESTMENT IN SECURITIES - 100.6% (Cost $2,810,798) | 3,677,320 |
NET OTHER ASSETS (LIABILITIES) - (0.6)% | (22,370) |
NET ASSETS - 100.0% | 3,654,950 |
(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 $81,039,000 or 2.2% of net assets. |
(d) | Level 3 security |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 5,143 |
Bolt Threads, Inc. | 12/13/17 - 9/02/21 | 15,485 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 9,746 |
Bowery Farming, Inc. Series D1 | 10/25/23 | 2,000 |
Bowery Farming, Inc. warrants | 10/25/23 | 0 |
CoreWeave, Inc. | 11/29/23 | 3,459 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 117,908 | 999,723 | 1,092,784 | 2,137 | - | - | 24,847 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 54,894 | 274,907 | 308,581 | 211 | - | (1) | 21,219 | 0.1% |
Total | 172,802 | 1,274,630 | 1,401,365 | 2,348 | - | (1) | 46,066 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 326,980 | 311,246 | 15,734 | - |
Consumer Discretionary | 381,111 | 364,573 | 16,180 | 358 |
Consumer Staples | 197,196 | 193,910 | - | 3,286 |
Energy | 179,140 | 179,140 | - | - |
Financials | 347,089 | 347,089 | - | - |
Health Care | 427,658 | 386,969 | 25,911 | 14,778 |
Industrials | 514,643 | 455,485 | - | 59,158 |
Information Technology | 1,016,533 | 1,013,074 | - | 3,459 |
Materials | 126,458 | 126,458 | - | - |
Real Estate | 37,317 | 37,317 | - | - |
Utilities | 77,129 | 77,129 | - | - |
Money Market Funds | 46,066 | 46,066 | - | - |
Total Investments in Securities: | 3,677,320 | 3,538,456 | 57,825 | 81,039 |
(Amounts in thousands) | |||
Investments in Securities: | |||
Industrials | |||
Beginning Balance | $ | 54,360 | |
Net Realized Gain (Loss) on Investment Securities | (10,120) | ||
Net Unrealized Gain (Loss) on Investment Securities | 17,513 | ||
Cost of Purchases | - | ||
Proceeds of Sales | (2,595) | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 59,158 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | 8,164 | |
Other Investments in Securities | |||
Beginning Balance | $ | 27,140 | |
Net Realized Gain (Loss) on Investment Securities | - | ||
Net Unrealized Gain (Loss) on Investment Securities | (10,718) | ||
Cost of Purchases | 5,459 | ||
Proceeds of Sales | - | ||
Amortization/Accretion | - | ||
Transfers into Level 3 | - | ||
Transfers out of Level 3 | - | ||
Ending Balance | $ | 21,881 | |
The change in unrealized gain (loss) for the period attributable to Level 3 securities held at November 30, 2023 | $ | (10,718) | |
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) | November 30, 2023 | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $20,300) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,764,732) | $ | 3,631,254 | ||
Fidelity Central Funds (cost $46,066) | 46,066 | |||
Total Investment in Securities (cost $2,810,798) | $ | 3,677,320 | ||
Foreign currency held at value (cost $1) | 1 | |||
Receivable for investments sold | 16,901 | |||
Receivable for fund shares sold | 3,419 | |||
Dividends receivable | 3,647 | |||
Distributions receivable from Fidelity Central Funds | 152 | |||
Prepaid expenses | 4 | |||
Total assets | 3,701,444 | |||
Liabilities | ||||
Payable for investments purchased | $ | 21,289 | ||
Payable for fund shares redeemed | 1,373 | |||
Accrued management fee | 2,034 | |||
Other affiliated payables | 510 | |||
Other payables and accrued expenses | 78 | |||
Collateral on securities loaned | 21,210 | |||
Total Liabilities | 46,494 | |||
Net Assets | $ | 3,654,950 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,646,216 | ||
Total accumulated earnings (loss) | 1,008,734 | |||
Net Assets | $ | 3,654,950 | ||
Net Asset Value, offering price and redemption price per share ($3,654,950 ÷ 77,215 shares) | $ | 47.33 |
Statement of Operations | ||||
Amounts in thousands | Year ended November 30, 2023 | |||
Investment Income | ||||
Dividends | $ | 35,972 | ||
Income from Fidelity Central Funds (including $211 from security lending) | 2,348 | |||
Total Income | 38,320 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 15,938 | ||
Performance adjustment | 4,750 | |||
Transfer agent fees | 4,561 | |||
Accounting fees | 783 | |||
Custodian fees and expenses | 48 | |||
Independent trustees' fees and expenses | 17 | |||
Registration fees | 135 | |||
Audit | 89 | |||
Legal | 5 | |||
Interest | 20 | |||
Miscellaneous | 14 | |||
Total expenses before reductions | 26,360 | |||
Expense reductions | (184) | |||
Total expenses after reductions | 26,176 | |||
Net Investment income (loss) | 12,144 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 181,059 | |||
Redemptions in-kind | 129,509 | |||
Foreign currency transactions | 188 | |||
Total net realized gain (loss) | 310,756 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 98,919 | |||
Fidelity Central Funds | (1) | |||
Assets and liabilities in foreign currencies | (64) | |||
Total change in net unrealized appreciation (depreciation) | 98,854 | |||
Net gain (loss) | 409,610 | |||
Net increase (decrease) in net assets resulting from operations | $ | 421,754 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Year ended November 30, 2023 | Year ended November 30, 2022 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,144 | $ | 45,770 |
Net realized gain (loss) | 310,756 | 64,754 | ||
Change in net unrealized appreciation (depreciation) | 98,854 | 97,056 | ||
Net increase (decrease) in net assets resulting from operations | 421,754 | 207,580 | ||
Distributions to shareholders | (98,478) | (214,586) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,377,863 | 141,891 | ||
Reinvestment of distributions | 92,606 | 203,394 | ||
Cost of shares redeemed | (718,871) | (387,959) | ||
Net increase (decrease) in net assets resulting from share transactions | 751,598 | (42,674) | ||
Total increase (decrease) in net assets | 1,074,874 | (49,680) | ||
Net Assets | ||||
Beginning of period | 2,580,076 | 2,629,756 | ||
End of period | $ | 3,654,950 | $ | 2,580,076 |
Other Information | ||||
Shares | ||||
Sold | 31,275 | 3,525 | ||
Issued in reinvestment of distributions | 2,343 | 4,871 | ||
Redeemed | (16,509) | (9,529) | ||
Net increase (decrease) | 17,109 | (1,133) | ||
Fidelity® New Millennium Fund® |
Years ended November 30, | 2023 | 2022 | 2021 | 2020 | 2019 | |||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 42.93 | $ | 42.94 | $ | 37.77 | $ | 38.43 | $ | 40.52 |
Income from Investment Operations | ||||||||||
Net investment income (loss) A,B | .17 | .75 | .62 | .54 | .62 | |||||
Net realized and unrealized gain (loss) | 5.81 | 2.77 | 7.70 | .45 | 3.11 | |||||
Total from investment operations | 5.98 | 3.52 | 8.32 | .99 | 3.73 | |||||
Distributions from net investment income | (.64) | (.85) | (.58) | (.36) | (.39) | |||||
Distributions from net realized gain | (.94) | (2.68) | (2.56) | (1.29) | (5.43) | |||||
Total distributions | (1.58) | (3.53) | (3.15) C | (1.65) | (5.82) | |||||
Net asset value, end of period | $ | 47.33 | $ | 42.93 | $ | 42.94 | $ | 37.77 | $ | 38.43 |
Total Return D | 14.66% | 8.45% | 23.56% | 2.60% | 12.82% | |||||
Ratios to Average Net Assets B,E,F | ||||||||||
Expenses before reductions | .87% | .54% | .49% | .46% | .61% | |||||
Expenses net of fee waivers, if any | .86% | .54% | .48% | .46% | .61% | |||||
Expenses net of all reductions | .86% | .54% | .48% | .45% | .61% | |||||
Net investment income (loss) | .40% | 1.83% | 1.46% | 1.61% | 1.72% | |||||
Supplemental Data | ||||||||||
Net assets, end of period (in millions) | $ | 3,655 | $ | 2,580 | $ | 2,630 | $ | 2,331 | $ | 2,991 |
Portfolio turnover rate G | 59% H | 12% | 19% | 22% | 34% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
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 InputA |
Equities | $81,039 | Market comparable | Enterprise value/EBITDA multiple (EV/EBITDA) | 13.1 | Increase |
Enterprise value/Revenue multiple (EV/R) | 7.5 - 9.7 / 8.4 | Increase | |||
Market approach | Transaction price | $60.73 - $309.86 / $107.98 | Increase | ||
Black scholes | Discount rate | 4.9% | Increase | ||
Volatility | 80.0% - 100.0% / 98.0% | Increase | |||
Term | 0.3 - 2.0 / 1.8 | Increase | |||
Discount for lack of marketability | 10.4% | Decrease | |||
Recovery value | Recovery value | $0.00 | Increase | ||
Gross unrealized appreciation | $941,460 |
Gross unrealized depreciation | (76,649) |
Net unrealized appreciation (depreciation) | $864,811 |
Tax Cost | $2,812,509 |
Undistributed ordinary income | $10,871 |
Undistributed long-term capital gain | $133,062 |
Net unrealized appreciation (depreciation) on securities and other investments | $864,800 |
November 30, 2023 | November 30, 2022 | |
Ordinary Income | $40,026 | $ 51,882 |
Long-term Capital Gains | 58,452 | 162,704 |
Total | $98,478 | $214,586 |
Purchases ($) | Sales ($) | |
Fidelity New Millennium Fund | 2,793,303 | 1,785,791 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | ||
Fidelity New Millennium Fund | 5,655 | 129,509 | 237,208 |
% of Average Net Assets | |
Fidelity New Millennium Fund | .03 |
% of Average Net Assets | |
Fidelity New Millennium Fund | 0.0257% |
Amount | |
Fidelity New Millennium Fund | $52 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity New Millennium Fund | Borrower | $126,637 | 5.57% | $20 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity New Millennium Fund | 215,073 | 92,133 | 7,012 |
Amount | |
Fidelity New Millennium Fund | $5 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity New Millennium Fund | $21 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® New Millennium Fund® | .86% | |||||||||
Actual | $ 1,000 | $ 1,107.70 | $ 4.54 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.76 | $ 4.36 | |||||||
Item 2.
Code of Ethics
As of the end of the period, November 30, 2023, Fidelity Mt. Vernon Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Growth Company Fund, Fidelity Growth Company K6 Fund and Fidelity Series Growth Company Fund (the “Funds”):
Services Billed by Deloitte Entities
November 30, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Company Fund | $71,700 | $- | $9,200 | $1,700 |
Fidelity Growth Company K6 Fund | $69,300 | $- | $9,200 | $1,700 |
Fidelity Series Growth Company Fund | $65,700 | $- | $9,200 | $1,600 |
November 30, 2022 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Growth Company Fund | $103,500 | $- | $9,700 | $1,600 |
Fidelity Growth Company K6 Fund | $95,200 | $- | $8,800 | $1,500 |
Fidelity Series Growth Company Fund | $65,300 | $- | $8,800 | $1,500 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity Equity Growth K6 Fund, Fidelity Growth Strategies Fund, Fidelity Growth Strategies K6 Fund and Fidelity New Millennium Fund (the “Funds”):
Services Billed by PwC
November 30, 2023 FeesA,B
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Equity Growth K6 Fund | $25,300 | $600 | $6,500 | $200 |
Fidelity Growth Strategies Fund | $49,900 | $3,800 | $15,900 | $1,300 |
Fidelity Growth Strategies K6 Fund | $44,100 | $3,500 | $8,500 | $1,200 |
Fidelity New Millennium Fund | $58,100 | $5,100 | $9,900 | $1,700 |
November 30, 2022 FeesA,B
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Equity Growth K6 Fund | $- | $- | $- | $- |
Fidelity Growth Strategies Fund | $40,400 | $3,600 | $8,000 | $1,200 |
Fidelity Growth Strategies K6 Fund | $37,300 | $3,300 | $7,200 | $1,100 |
Fidelity New Millennium Fund | $55,300 | $4,800 | $67,200 | $1,600 |
A Amounts may reflect rounding.
B Fidelity Equity Growth K6 Fund commenced operations on August 24, 2023.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
November 30, 2023A | November 30, 2022A | |
Audit-Related Fees | $- | $- |
Tax Fees | $- | $- |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
Services Billed by PwC
November 30, 2023A,B | November 30, 2022A,B | |
Audit-Related Fees | $8,284,200 | $7,914,600 |
Tax Fees | $1,000 | $1,000 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Equity Growth K6 Fund’s commencement of operations.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | November 30, 2023A,B | November 30, 2022A,B |
Deloitte Entities | $275,200 | $489,500 |
PwC | $13,646,000 | $12,981,000 |
A Amounts may reflect rounding.
B May include amounts billed prior to the Fidelity Equity Growth K6 Fund’s commencement of operations.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (the “PCAOB”) has determined that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.
The Registrant is not a “foreign issuer,” as defined in 17 CFR 240.3b-4.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Mt. Vernon Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | January 22, 2024 |