Quarterly Holdings Report
for
Fidelity® Small Cap Stock Fund
January 31, 2024
SLC-NPRT3-0324
1.813072.119
Common Stocks - 99.9% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 1.5% | |||
Diversified Telecommunication Services - 0.0% | |||
GCI Liberty, Inc. Class A (Escrow) (a) | 112,550 | 0 | |
Media - 1.5% | |||
TechTarget, Inc. (b) | 212,833 | 7,273 | |
Thryv Holdings, Inc. (b) | 495,441 | 10,127 | |
17,400 | |||
TOTAL COMMUNICATION SERVICES | 17,400 | ||
CONSUMER DISCRETIONARY - 15.0% | |||
Automobile Components - 0.5% | |||
Patrick Industries, Inc. | 57,926 | 5,815 | |
Diversified Consumer Services - 4.2% | |||
Grand Canyon Education, Inc. (b) | 261,213 | 34,109 | |
Laureate Education, Inc. Class A | 1,065,700 | 13,449 | |
47,558 | |||
Household Durables - 3.8% | |||
Cavco Industries, Inc. (b) | 20,849 | 6,920 | |
Helen of Troy Ltd. (b) | 67,737 | 7,756 | |
LGI Homes, Inc. (b) | 207,844 | 24,528 | |
SharkNinja Hong Kong Co. Ltd. | 96,400 | 4,504 | |
43,708 | |||
Leisure Products - 2.7% | |||
Brunswick Corp. | 167,300 | 13,498 | |
Clarus Corp. (c) | 478,100 | 2,830 | |
Games Workshop Group PLC | 25,900 | 3,251 | |
YETI Holdings, Inc. (b)(c) | 255,479 | 11,233 | |
30,812 | |||
Specialty Retail - 3.6% | |||
America's Car Mart, Inc. (b) | 83,808 | 5,103 | |
American Eagle Outfitters, Inc. | 229,600 | 4,551 | |
Murphy U.S.A., Inc. | 88,420 | 31,170 | |
40,824 | |||
Textiles, Apparel & Luxury Goods - 0.2% | |||
Wolverine World Wide, Inc. | 280,592 | 2,346 | |
TOTAL CONSUMER DISCRETIONARY | 171,063 | ||
CONSUMER STAPLES - 7.0% | |||
Beverages - 2.2% | |||
Boston Beer Co., Inc. Class A (b) | 39,474 | 13,787 | |
Coca-Cola Bottling Co. Consolidated | 13,301 | 11,457 | |
25,244 | |||
Consumer Staples Distribution & Retail - 2.9% | |||
Performance Food Group Co. (b) | 452,483 | 32,886 | |
Food Products - 1.9% | |||
Lassonde Industries, Inc. Class A (sub. vtg.) | 52,984 | 5,655 | |
Nomad Foods Ltd. | 927,722 | 16,690 | |
22,345 | |||
TOTAL CONSUMER STAPLES | 80,475 | ||
ENERGY - 5.8% | |||
Energy Equipment & Services - 2.3% | |||
Cactus, Inc. | 300,500 | 12,753 | |
TechnipFMC PLC | 692,200 | 13,387 | |
26,140 | |||
Oil, Gas & Consumable Fuels - 3.5% | |||
Antero Resources Corp. (b) | 773,318 | 17,276 | |
Northern Oil & Gas, Inc. | 265,112 | 8,881 | |
Sitio Royalties Corp. | 666,491 | 14,216 | |
40,373 | |||
TOTAL ENERGY | 66,513 | ||
FINANCIALS - 17.9% | |||
Banks - 6.1% | |||
Cadence Bank | 311,613 | 8,295 | |
ConnectOne Bancorp, Inc. | 497,898 | 11,372 | |
Glacier Bancorp, Inc. | 191,200 | 7,392 | |
Independent Bank Group, Inc. | 327,391 | 15,829 | |
Metropolitan Bank Holding Corp. (b) | 272,911 | 13,233 | |
Synovus Financial Corp. | 353,200 | 13,302 | |
69,423 | |||
Capital Markets - 1.3% | |||
P10, Inc. | 767,500 | 7,061 | |
StoneX Group, Inc. (b) | 110,397 | 7,259 | |
14,320 | |||
Consumer Finance - 4.2% | |||
Encore Capital Group, Inc. (b)(c) | 355,943 | 17,826 | |
FirstCash Holdings, Inc. | 214,400 | 24,607 | |
NerdWallet, Inc. (b) | 402,000 | 6,155 | |
48,588 | |||
Financial Services - 0.5% | |||
Walker & Dunlop, Inc. | 58,739 | 5,674 | |
Insurance - 5.8% | |||
BRP Group, Inc. (b) | 585,200 | 13,132 | |
First American Financial Corp. | 310,864 | 18,761 | |
Primerica, Inc. | 70,501 | 16,509 | |
Selective Insurance Group, Inc. | 172,588 | 18,098 | |
66,500 | |||
TOTAL FINANCIALS | 204,505 | ||
HEALTH CARE - 12.5% | |||
Biotechnology - 4.4% | |||
Allogene Therapeutics, Inc. (b) | 355,900 | 1,253 | |
ALX Oncology Holdings, Inc. (b) | 197,725 | 2,849 | |
Annexon, Inc. (b) | 243,403 | 1,011 | |
Arcellx, Inc. (b) | 39,200 | 2,424 | |
Celldex Therapeutics, Inc. (b) | 72,344 | 2,548 | |
Cogent Biosciences, Inc. (b) | 42,600 | 189 | |
Crinetics Pharmaceuticals, Inc. (b) | 81,400 | 2,969 | |
Cytokinetics, Inc. (b) | 89,125 | 6,963 | |
Keros Therapeutics, Inc. (b) | 69,742 | 3,861 | |
Madrigal Pharmaceuticals, Inc. (b)(c) | 14,000 | 3,034 | |
ORIC Pharmaceuticals, Inc. (b) | 141,300 | 1,553 | |
Revolution Medicines, Inc. (b) | 70,200 | 1,948 | |
Scholar Rock Holding Corp. (b) | 101,300 | 1,413 | |
Spyre Therapeutics, Inc. (b) | 60,300 | 1,562 | |
Tyra Biosciences, Inc. (b) | 62,100 | 832 | |
Vaxcyte, Inc. (b) | 76,935 | 5,495 | |
Viking Therapeutics, Inc. (b) | 131,900 | 3,184 | |
Viridian Therapeutics, Inc. (b) | 117,200 | 2,256 | |
Xenon Pharmaceuticals, Inc. (b) | 60,205 | 2,722 | |
Zentalis Pharmaceuticals, Inc. (b) | 155,242 | 1,840 | |
49,906 | |||
Health Care Equipment & Supplies - 2.1% | |||
Dentsply Sirona, Inc. | 188,300 | 6,543 | |
Neogen Corp. (b) | 484,085 | 7,503 | |
TransMedics Group, Inc. (b) | 116,971 | 10,033 | |
24,079 | |||
Health Care Providers & Services - 3.8% | |||
Acadia Healthcare Co., Inc. (b) | 77,000 | 6,325 | |
AdaptHealth Corp. (b) | 818,704 | 5,911 | |
AMN Healthcare Services, Inc. (b) | 78,800 | 5,832 | |
Chemed Corp. | 22,163 | 13,138 | |
Owens & Minor, Inc. (b) | 504,773 | 9,949 | |
Privia Health Group, Inc. (b) | 105,900 | 2,135 | |
43,290 | |||
Health Care Technology - 0.6% | |||
Evolent Health, Inc. Class A (b) | 112,421 | 3,306 | |
Phreesia, Inc. (b) | 143,996 | 3,669 | |
6,975 | |||
Life Sciences Tools & Services - 0.5% | |||
Bio-Rad Laboratories, Inc. Class A (b) | 9,500 | 3,048 | |
Maravai LifeSciences Holdings, Inc. (b) | 508,800 | 2,951 | |
5,999 | |||
Pharmaceuticals - 1.1% | |||
CymaBay Therapeutics, Inc. (b) | 82,100 | 1,930 | |
Edgewise Therapeutics, Inc. (b) | 235,812 | 4,205 | |
Enliven Therapeutics, Inc. (b) | 98,200 | 1,542 | |
Ikena Oncology, Inc. (b) | 293,792 | 394 | |
Intra-Cellular Therapies, Inc. (b) | 46,244 | 3,114 | |
Structure Therapeutics, Inc. ADR | 37,000 | 1,614 | |
12,799 | |||
TOTAL HEALTH CARE | 143,048 | ||
INDUSTRIALS - 18.4% | |||
Aerospace & Defense - 2.0% | |||
Cadre Holdings, Inc. | 116,558 | 3,962 | |
Leonardo DRS, Inc. (b) | 696,746 | 13,524 | |
Spirit AeroSystems Holdings, Inc. Class A (b) | 179,800 | 4,937 | |
22,423 | |||
Building Products - 1.8% | |||
CSW Industrials, Inc. | 18,099 | 3,829 | |
Hayward Holdings, Inc. (b) | 1,354,867 | 16,963 | |
20,792 | |||
Construction & Engineering - 3.1% | |||
Bowman Consulting Group Ltd. (b)(c) | 106,201 | 3,336 | |
Granite Construction, Inc. | 139,165 | 6,278 | |
Sterling Construction Co., Inc. (b) | 83,300 | 6,256 | |
Willscot Mobile Mini Holdings (b) | 412,459 | 19,509 | |
35,379 | |||
Electrical Equipment - 2.5% | |||
Atkore, Inc. | 64,783 | 9,881 | |
Generac Holdings, Inc. (b) | 126,300 | 14,357 | |
Nextracker, Inc. Class A | 93,500 | 4,233 | |
28,471 | |||
Ground Transportation - 0.9% | |||
XPO, Inc. (b) | 127,000 | 10,851 | |
Machinery - 0.4% | |||
Beijer Alma AB (B Shares) | 238,597 | 4,205 | |
Professional Services - 6.4% | |||
Concentrix Corp. | 224,225 | 19,927 | |
ExlService Holdings, Inc. (b) | 341,987 | 10,697 | |
ICF International, Inc. | 91,700 | 12,750 | |
Kforce, Inc. | 170,573 | 11,659 | |
Maximus, Inc. | 221,497 | 17,968 | |
73,001 | |||
Trading Companies & Distributors - 1.3% | |||
Alligo AB (B Shares) | 360,603 | 4,588 | |
Applied Industrial Technologies, Inc. | 59,200 | 10,446 | |
15,034 | |||
TOTAL INDUSTRIALS | 210,156 | ||
INFORMATION TECHNOLOGY - 12.4% | |||
Communications Equipment - 1.9% | |||
Lumentum Holdings, Inc. (b) | 396,600 | 21,789 | |
Electronic Equipment, Instruments & Components - 1.9% | |||
Insight Enterprises, Inc. (b) | 116,206 | 21,468 | |
IT Services - 0.9% | |||
Endava PLC ADR (b)(c) | 142,600 | 10,092 | |
Semiconductors & Semiconductor Equipment - 3.5% | |||
Allegro MicroSystems LLC (b) | 199,800 | 5,183 | |
Diodes, Inc. (b) | 35,200 | 2,370 | |
MKS Instruments, Inc. | 99,200 | 10,560 | |
Nova Ltd. (b) | 26,000 | 3,765 | |
Onto Innovation, Inc. (b) | 27,420 | 4,428 | |
Silicon Motion Tech Corp. sponsored ADR | 166,054 | 10,458 | |
SMART Global Holdings, Inc. (b) | 199,500 | 3,920 | |
40,684 | |||
Software - 4.2% | |||
BlackLine, Inc. (b) | 141,600 | 8,309 | |
Five9, Inc. (b) | 60,561 | 4,594 | |
Intapp, Inc. (b) | 168,008 | 7,238 | |
JFrog Ltd. (b) | 109,500 | 3,562 | |
Rapid7, Inc. (b) | 202,400 | 11,138 | |
Tenable Holdings, Inc. (b) | 156,600 | 7,376 | |
Varonis Systems, Inc. (b) | 124,900 | 5,606 | |
47,823 | |||
TOTAL INFORMATION TECHNOLOGY | 141,856 | ||
MATERIALS - 4.6% | |||
Chemicals - 2.8% | |||
Cabot Corp. | 143,883 | 10,374 | |
Olin Corp. | 252,200 | 13,132 | |
Tronox Holdings PLC | 656,243 | 9,050 | |
32,556 | |||
Construction Materials - 0.9% | |||
Eagle Materials, Inc. | 44,300 | 10,024 | |
Containers & Packaging - 0.9% | |||
Graphic Packaging Holding Co. | 384,700 | 9,814 | |
TOTAL MATERIALS | 52,394 | ||
REAL ESTATE - 2.4% | |||
Equity Real Estate Investment Trusts (REITs) - 1.1% | |||
Ryman Hospitality Properties, Inc. | 52,200 | 5,737 | |
Terreno Realty Corp. | 112,664 | 6,729 | |
12,466 | |||
Real Estate Management & Development - 1.3% | |||
Cushman & Wakefield PLC (b) | 657,941 | 6,922 | |
Jones Lang LaSalle, Inc. (b) | 42,342 | 7,497 | |
14,419 | |||
TOTAL REAL ESTATE | 26,885 | ||
UTILITIES - 2.4% | |||
Gas Utilities - 2.4% | |||
Brookfield Infrastructure Corp. A Shares | 549,026 | 19,221 | |
Southwest Gas Holdings, Inc. | 140,100 | 8,221 | |
27,442 | |||
TOTAL COMMON STOCKS (Cost $1,016,144) | 1,141,737 | ||
Money Market Funds - 2.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.39% (d) | 2,451,738 | 2,452 | |
Fidelity Securities Lending Cash Central Fund 5.39% (d)(e) | 25,184,589 | 25,187 | |
TOTAL MONEY MARKET FUNDS (Cost $27,639) | 27,639 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% (Cost $1,043,783) | 1,169,376 |
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (26,200) |
NET ASSETS - 100.0% | 1,143,176 |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) | Level 3 security |
(b) | Non-income producing |
(c) | Security or a portion of the security is on loan at period end. |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(e) | Investment made with cash collateral received from securities on loan. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 5.39% | 20,249 | 208,407 | 226,204 | 390 | - | - | 2,452 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 54,265 | 296,785 | 325,863 | 36 | - | - | 25,187 | 0.1% |
Total | 74,514 | 505,192 | 552,067 | 426 | - | - | 27,639 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
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.
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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