Quarterly Holdings Report
for
Fidelity® New Millennium Fund®
February 28, 2023
NMF-NPRT1-0423
1.797943.119
Common Stocks - 98.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 6.3% | |||
Entertainment - 2.2% | |||
Activision Blizzard, Inc. | 61,600 | 4,697 | |
Endeavor Group Holdings, Inc. (a) | 557,217 | 12,432 | |
Netflix, Inc. (a) | 88,500 | 28,509 | |
Spotify Technology SA (a) | 51,200 | 5,955 | |
Universal Music Group NV | 263,300 | 6,204 | |
57,797 | |||
Interactive Media & Services - 2.9% | |||
Alphabet, Inc. Class A (a) | 438,600 | 39,500 | |
Match Group, Inc. (a) | 167,800 | 6,950 | |
Meta Platforms, Inc. Class A (a) | 149,100 | 26,084 | |
Pinterest, Inc. Class A (a) | 151,200 | 3,797 | |
76,331 | |||
Media - 1.2% | |||
Comcast Corp. Class A | 903,300 | 33,576 | |
TOTAL COMMUNICATION SERVICES | 167,704 | ||
CONSUMER DISCRETIONARY - 11.1% | |||
Auto Components - 0.6% | |||
Aptiv PLC (a) | 125,200 | 14,558 | |
Hotels, Restaurants & Leisure - 1.7% | |||
ARAMARK Holdings Corp. | 148,300 | 5,457 | |
Booking Holdings, Inc. (a) | 7,200 | 18,173 | |
Churchill Downs, Inc. | 64,500 | 15,853 | |
Domino's Pizza, Inc. | 22,900 | 6,733 | |
46,216 | |||
Household Durables - 1.0% | |||
Lennar Corp. Class A | 88,700 | 8,581 | |
NVR, Inc. (a) | 2,110 | 10,916 | |
Taylor Morrison Home Corp. (a) | 201,400 | 7,216 | |
26,713 | |||
Internet & Direct Marketing Retail - 2.4% | |||
Amazon.com, Inc. (a) | 341,600 | 32,189 | |
eBay, Inc. | 207,400 | 9,520 | |
Uber Technologies, Inc. (a) | 622,900 | 20,718 | |
62,427 | |||
Multiline Retail - 1.0% | |||
Dollar General Corp. | 48,100 | 10,404 | |
Target Corp. | 101,100 | 17,035 | |
27,439 | |||
Specialty Retail - 1.6% | |||
Best Buy Co., Inc. | 81,700 | 6,790 | |
Dick's Sporting Goods, Inc. | 51,800 | 6,663 | |
Industria de Diseno Textil SA | 451,300 | 13,903 | |
TJX Companies, Inc. | 196,500 | 15,052 | |
42,408 | |||
Textiles, Apparel & Luxury Goods - 2.8% | |||
Brunello Cucinelli SpA | 362,400 | 30,550 | |
NIKE, Inc. Class B | 156,400 | 18,579 | |
PVH Corp. | 84,200 | 6,756 | |
Ralph Lauren Corp. | 64,300 | 7,600 | |
Tapestry, Inc. | 273,100 | 11,883 | |
75,368 | |||
TOTAL CONSUMER DISCRETIONARY | 295,129 | ||
CONSUMER STAPLES - 3.2% | |||
Beverages - 2.6% | |||
Boston Beer Co., Inc. Class A (a) | 30,500 | 9,876 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 30,800 | 6,890 | |
Diageo PLC sponsored ADR (b) | 73,800 | 12,770 | |
Keurig Dr. Pepper, Inc. | 254,700 | 8,800 | |
The Coca-Cola Co. | 527,900 | 31,415 | |
69,751 | |||
Food & Staples Retailing - 0.6% | |||
BJ's Wholesale Club Holdings, Inc. (a) | 96,100 | 6,900 | |
Performance Food Group Co. (a) | 158,300 | 8,958 | |
15,858 | |||
TOTAL CONSUMER STAPLES | 85,609 | ||
ENERGY - 7.5% | |||
Energy Equipment & Services - 2.0% | |||
Baker Hughes Co. Class A | 425,200 | 13,011 | |
Halliburton Co. | 311,500 | 11,286 | |
Schlumberger Ltd. | 399,200 | 21,241 | |
TechnipFMC PLC (a) | 552,900 | 8,454 | |
53,992 | |||
Oil, Gas & Consumable Fuels - 5.5% | |||
Antero Resources Corp. (a) | 311,400 | 8,159 | |
Canadian Natural Resources Ltd. | 300,900 | 17,004 | |
Cheniere Energy, Inc. | 85,800 | 13,500 | |
Exxon Mobil Corp. | 560,200 | 61,572 | |
Hess Corp. | 211,300 | 28,462 | |
Valero Energy Corp. | 130,200 | 17,151 | |
145,848 | |||
TOTAL ENERGY | 199,840 | ||
FINANCIALS - 10.1% | |||
Banks - 4.5% | |||
Bank of America Corp. | 1,126,400 | 38,636 | |
Comerica, Inc. | 151,000 | 10,585 | |
JPMorgan Chase & Co. | 95,500 | 13,690 | |
PNC Financial Services Group, Inc. | 109,900 | 17,355 | |
Wells Fargo & Co. | 869,000 | 40,643 | |
120,909 | |||
Capital Markets - 1.4% | |||
Morgan Stanley | 282,200 | 27,232 | |
Sixth Street Specialty Lending, Inc. | 156,695 | 2,977 | |
State Street Corp. | 76,600 | 6,793 | |
37,002 | |||
Insurance - 3.9% | |||
American International Group, Inc. | 163,200 | 9,973 | |
Arch Capital Group Ltd. (a) | 294,500 | 20,615 | |
Chubb Ltd. | 180,909 | 38,175 | |
First American Financial Corp. | 121,800 | 6,916 | |
Hiscox Ltd. | 639,207 | 8,765 | |
MetLife, Inc. | 169,400 | 12,151 | |
RenaissanceRe Holdings Ltd. | 33,000 | 7,092 | |
103,687 | |||
Thrifts & Mortgage Finance - 0.3% | |||
Radian Group, Inc. | 305,823 | 6,529 | |
TOTAL FINANCIALS | 268,127 | ||
HEALTH CARE - 12.9% | |||
Biotechnology - 1.3% | |||
Day One Biopharmaceuticals, Inc. (a) | 166,300 | 3,063 | |
Gilead Sciences, Inc. | 101,400 | 8,166 | |
Legend Biotech Corp. ADR (a) | 95,200 | 4,396 | |
Regeneron Pharmaceuticals, Inc. (a) | 25,600 | 19,467 | |
35,092 | |||
Health Care Equipment & Supplies - 2.7% | |||
Boston Scientific Corp. (a) | 537,900 | 25,131 | |
GE HealthCare Technologies, Inc. (a) | 136,437 | 10,369 | |
Hologic, Inc. (a) | 104,500 | 8,322 | |
Masimo Corp. (a) | 86,900 | 14,539 | |
Stryker Corp. | 52,600 | 13,827 | |
72,188 | |||
Health Care Providers & Services - 3.4% | |||
agilon health, Inc. (a) | 374,300 | 7,939 | |
Centene Corp. (a) | 129,800 | 8,878 | |
Cigna Group | 101,700 | 29,707 | |
LifeStance Health Group, Inc. (a) | 489,200 | 2,505 | |
UnitedHealth Group, Inc. | 88,200 | 41,978 | |
91,007 | |||
Life Sciences Tools & Services - 2.1% | |||
Danaher Corp. | 53,100 | 13,144 | |
IQVIA Holdings, Inc. (a) | 46,300 | 9,652 | |
Thermo Fisher Scientific, Inc. | 42,500 | 23,025 | |
West Pharmaceutical Services, Inc. | 32,400 | 10,272 | |
56,093 | |||
Pharmaceuticals - 3.4% | |||
AstraZeneca PLC (United Kingdom) | 68,700 | 8,950 | |
Bristol-Myers Squibb Co. | 350,800 | 24,191 | |
Eli Lilly & Co. | 132,000 | 41,081 | |
Roche Holding AG (participation certificate) | 32,220 | 9,290 | |
UCB SA | 80,200 | 6,903 | |
90,415 | |||
TOTAL HEALTH CARE | 344,795 | ||
INDUSTRIALS - 13.5% | |||
Aerospace & Defense - 5.0% | |||
BWX Technologies, Inc. | 110,700 | 6,765 | |
Howmet Aerospace, Inc. | 356,200 | 15,025 | |
Huntington Ingalls Industries, Inc. | 32,700 | 7,037 | |
Lockheed Martin Corp. | 45,100 | 21,389 | |
Northrop Grumman Corp. | 32,000 | 14,852 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(c)(d) | 585,890 | 45,114 | |
Class C (a)(c)(d) | 8,180 | 630 | |
The Boeing Co. (a) | 110,900 | 22,352 | |
133,164 | |||
Air Freight & Logistics - 0.3% | |||
GXO Logistics, Inc. (a) | 149,700 | 7,421 | |
Building Products - 0.6% | |||
Builders FirstSource, Inc. (a) | 97,700 | 8,283 | |
Fortune Brands Home & Security, Inc. | 131,600 | 8,153 | |
16,436 | |||
Construction & Engineering - 1.1% | |||
Quanta Services, Inc. | 99,800 | 16,108 | |
Willscot Mobile Mini Holdings (a) | 281,400 | 14,464 | |
30,572 | |||
Electrical Equipment - 1.0% | |||
Generac Holdings, Inc. (a) | 84,900 | 10,189 | |
Regal Rexnord Corp. | 107,300 | 16,915 | |
27,104 | |||
Industrial Conglomerates - 1.0% | |||
General Electric Co. | 327,112 | 27,710 | |
Machinery - 3.0% | |||
Caterpillar, Inc. | 72,400 | 17,343 | |
Fortive Corp. | 190,500 | 12,699 | |
Ingersoll Rand, Inc. | 277,720 | 16,127 | |
ITT, Inc. | 159,600 | 14,506 | |
Parker Hannifin Corp. | 50,800 | 17,874 | |
78,549 | |||
Professional Services - 0.9% | |||
FTI Consulting, Inc. (a) | 56,220 | 10,328 | |
KBR, Inc. | 245,100 | 13,507 | |
23,835 | |||
Road & Rail - 0.1% | |||
RXO, Inc. (a) | 104,800 | 2,156 | |
Trading Companies & Distributors - 0.5% | |||
RS GROUP PLC | 1,097,200 | 12,901 | |
TOTAL INDUSTRIALS | 359,848 | ||
INFORMATION TECHNOLOGY - 23.8% | |||
Communications Equipment - 1.1% | |||
Cisco Systems, Inc. | 562,600 | 27,241 | |
Electronic Equipment & Components - 1.8% | |||
Flex Ltd. (a) | 852,300 | 19,398 | |
Jabil, Inc. | 175,200 | 14,547 | |
Keysight Technologies, Inc. (a) | 91,200 | 14,588 | |
48,533 | |||
IT Services - 5.0% | |||
Amadeus IT Holding SA Class A (a) | 230,200 | 14,476 | |
Block, Inc. Class A (a) | 139,200 | 10,681 | |
EPAM Systems, Inc. (a) | 24,600 | 7,568 | |
Fiserv, Inc. (a) | 187,801 | 21,614 | |
MongoDB, Inc. Class A (a) | 55,900 | 11,712 | |
Shift4 Payments, Inc. (a) | 130,600 | 8,424 | |
Visa, Inc. Class A | 208,300 | 45,814 | |
WNS Holdings Ltd. sponsored ADR (a) | 152,300 | 13,238 | |
133,527 | |||
Semiconductors & Semiconductor Equipment - 6.1% | |||
Advanced Micro Devices, Inc. (a) | 293,900 | 23,095 | |
Analog Devices, Inc. | 94,500 | 17,338 | |
Marvell Technology, Inc. | 69,918 | 3,157 | |
NVIDIA Corp. | 125,500 | 29,136 | |
NXP Semiconductors NV | 134,800 | 24,059 | |
onsemi (a) | 276,800 | 21,427 | |
SolarEdge Technologies, Inc. (a) | 31,100 | 9,887 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 235,800 | 20,531 | |
Teradyne, Inc. | 140,700 | 14,230 | |
162,860 | |||
Software - 5.7% | |||
Adobe, Inc. (a) | 56,500 | 18,303 | |
Autodesk, Inc. (a) | 50,600 | 10,054 | |
Dynatrace, Inc. (a) | 376,800 | 16,025 | |
Microsoft Corp. | 329,600 | 82,209 | |
Oracle Corp. | 198,100 | 17,314 | |
Workday, Inc. Class A (a) | 45,200 | 8,383 | |
152,288 | |||
Technology Hardware, Storage & Peripherals - 4.1% | |||
Apple, Inc. | 741,100 | 109,246 | |
TOTAL INFORMATION TECHNOLOGY | 633,695 | ||
MATERIALS - 5.4% | |||
Chemicals - 1.8% | |||
Cabot Corp. | 92,100 | 7,325 | |
Celanese Corp. Class A | 62,800 | 7,299 | |
CF Industries Holdings, Inc. | 158,400 | 13,605 | |
Element Solutions, Inc. | 351,700 | 7,224 | |
LG Chemical Ltd. | 13,290 | 6,840 | |
Westlake Corp. | 55,700 | 6,636 | |
48,929 | |||
Construction Materials - 0.3% | |||
Martin Marietta Materials, Inc. | 24,200 | 8,709 | |
Containers & Packaging - 0.9% | |||
Avery Dennison Corp. | 54,900 | 10,002 | |
O-I Glass, Inc. (a) | 660,800 | 14,683 | |
24,685 | |||
Metals & Mining - 2.4% | |||
Commercial Metals Co. | 77,900 | 4,031 | |
Franco-Nevada Corp. | 133,400 | 17,028 | |
Freeport-McMoRan, Inc. | 703,600 | 28,826 | |
Lynas Rare Earths Ltd. (a) | 1,189,995 | 6,535 | |
Novagold Resources, Inc. (a) | 1,049,180 | 5,905 | |
62,325 | |||
TOTAL MATERIALS | 144,648 | ||
REAL ESTATE - 2.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.7% | |||
Essex Property Trust, Inc. | 29,500 | 6,728 | |
Gaming & Leisure Properties | 205,383 | 11,066 | |
Prologis (REIT), Inc. | 126,800 | 15,647 | |
Spirit Realty Capital, Inc. | 260,560 | 10,730 | |
44,171 | |||
Real Estate Management & Development - 0.4% | |||
CBRE Group, Inc. (a) | 122,200 | 10,404 | |
TOTAL REAL ESTATE | 54,575 | ||
UTILITIES - 2.2% | |||
Electric Utilities - 1.5% | |||
Constellation Energy Corp. | 123,800 | 9,271 | |
FirstEnergy Corp. | 259,800 | 10,272 | |
Southern Co. | 318,200 | 20,066 | |
39,609 | |||
Independent Power and Renewable Electricity Producers - 0.7% | |||
The AES Corp. | 539,000 | 13,303 | |
Vistra Corp. | 293,600 | 6,456 | |
19,759 | |||
TOTAL UTILITIES | 59,368 | ||
TOTAL COMMON STOCKS (Cost $2,106,918) | 2,613,338 | ||
Convertible Preferred Stocks - 1.2% | |||
Shares | Value ($) (000s) | ||
CONSUMER DISCRETIONARY - 0.1% | |||
Textiles, Apparel & Luxury Goods - 0.1% | |||
Bolt Threads, Inc.: | |||
Series D (a)(c)(d) | 390,327 | 1,276 | |
Series E (a)(c)(d) | 522,488 | 2,017 | |
3,293 | |||
CONSUMER STAPLES - 0.1% | |||
Food Products - 0.1% | |||
Bowery Farming, Inc. Series C1 (a)(c)(d) | 161,754 | 3,285 | |
HEALTH CARE - 0.6% | |||
Biotechnology - 0.6% | |||
National Resilience, Inc. Series B (a)(c)(d) | 243,347 | 14,778 | |
INDUSTRIALS - 0.4% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(c)(d) | 7,570 | 5,829 | |
Construction & Engineering - 0.2% | |||
Beta Technologies, Inc. Series B, 6.00% (c)(d) | 49,853 | 3,910 | |
TOTAL INDUSTRIALS | 9,739 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $34,720) | 31,095 | ||
Other - 0.1% | |||
Shares | Value ($) (000s) | ||
Energy - Oil, Gas & Consumable Fuels - 0.1% | |||
Utica Shale Drilling Program (non-operating revenue interest) (a)(c)(d)(e) (Cost $7,484) | 6,453,248 | 2,522 | |
Money Market Funds - 0.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 4.63% (f) | 11,318,042 | 11,320 | |
Fidelity Securities Lending Cash Central Fund 4.63% (f)(g) | 925,187 | 925 | |
TOTAL MONEY MARKET FUNDS (Cost $12,245) | 12,245 | ||
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $2,161,367) | 2,659,200 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 4,609 |
NET ASSETS - 100.0% | 2,663,809 |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(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 $79,361,000 or 3.0% of net assets. |
(d) | Level 3 security |
(e) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(g) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Beta Technologies, Inc. Series B, 6.00% | 4/04/22 | 5,143 |
Bolt Threads, Inc. Series D | 12/13/17 | 6,261 |
Bolt Threads, Inc. Series E | 2/07/20 - 9/02/21 | 9,224 |
Bowery Farming, Inc. Series C1 | 5/18/21 | 9,746 |
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 |
Utica Shale Drilling Program (non-operating revenue interest) | 10/05/16 - 12/16/20 | 7,483 |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
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 4.63% | 117,908 | 338,103 | 444,691 | 784 | - | - | 11,320 | 0.0% |
Fidelity Securities Lending Cash Central Fund 4.63% | 54,894 | 53,614 | 107,583 | 5 | - | - | 925 | 0.0% |
Total | 172,802 | 391,717 | 552,274 | 789 | - | - | 12,245 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Securities, including private placements or other restricted securities, for which observable inputs are not available are valued using alternate valuation approaches, including the market approach, the income approach and cost approach, and are categorized as Level 3 in the hierarchy. The market approach considers factors including the price of recent investments in the same or a similar security or financial metrics of comparable securities. The income approach considers factors including expected future cash flows, security specific risks and corresponding discount rates. The cost approach considers factors including the value of the security's underlying assets and liabilities.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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