Quarterly Holdings Report
for
Fidelity® Growth Strategies Fund
February 28, 2026
FEG-NPRT1-0426
1.797938.122
Common Stocks - 99.2%
 
  
Shares
Value ($)
 
AUSTRALIA - 2.1%
 
  
  
Industrials - 0.3%
  
  
  
Aerospace & Defense - 0.3%
  
  
  
DroneShield Ltd (a)(b)
  
4,580,347
11,799,766
Materials - 1.8%
  
  
  
Metals & Mining - 1.8%
  
  
  
Anglogold Ashanti Plc
 
416,400
53,203,428
OceanaGold Corp
 
492,900
20,961,936
TOTAL MATERIALS
  
  
74,165,364
TOTAL AUSTRALIA
  
  
85,965,130
CANADA - 0.5%
 
  
  
Consumer Discretionary - 0.5%
  
  
  
Specialty Retail - 0.5%
  
  
  
Aritzia Inc Subordinate Voting Shares (a)
  
217,813
19,286,283
ISRAEL - 0.3%
 
  
  
Financials - 0.0%
  
  
  
Capital Markets - 0.0%
  
  
  
Etoro Group Ltd Class A (c)
  
4,374
134,150
Information Technology - 0.3%
  
  
  
Software - 0.3%
  
  
  
Cellebrite DI Ltd (a)
  
1,050,937
14,019,500
TOTAL ISRAEL
  
  
14,153,650
KOREA (SOUTH) - 0.9%
 
  
  
Consumer Discretionary - 0.9%
  
  
  
Broadline Retail - 0.9%
  
  
  
Coupang Inc Class A (a)
  
2,040,012
38,923,429
PUERTO RICO - 0.2%
 
  
  
Information Technology - 0.2%
  
  
  
Electronic Equipment, Instruments & Components - 0.2%
  
  
  
Unusual Machines Inc /US (a)(c)
  
464,700
6,343,155
SWITZERLAND - 0.2%
 
  
  
Consumer Discretionary - 0.2%
  
  
  
Textiles, Apparel & Luxury Goods - 0.2%
  
  
  
On Holding AG Class A (a)
  
184,600
8,580,208
UNITED KINGDOM - 0.5%
 
  
  
Energy - 0.5%
  
  
  
Energy Equipment & Services - 0.5%
  
  
  
TechnipFMC PLC
 
313,044
20,757,948
UNITED STATES - 94.1%
 
  
  
Communication Services - 3.0%
  
  
  
Diversified Telecommunication Services - 0.4%
  
  
  
AST SpaceMobile Inc Class A (a)(c)
  
211,562
16,753,595
Entertainment - 1.8%
  
  
  
Live Nation Entertainment Inc (a)
  
152,454
24,718,891
ROBLOX Corp Class A (a)
  
721,272
49,522,536
 
  
  
74,241,427
Interactive Media & Services - 0.5%
  
  
  
Reddit Inc Class A (a)
  
138,588
20,207,516
Media - 0.3%
  
  
  
Trade Desk Inc (The) Class A (a)
  
454,505
10,826,309
TOTAL COMMUNICATION SERVICES
  
  
122,028,847
Consumer Discretionary - 15.1%
  
  
  
Hotels, Restaurants & Leisure - 8.3%
  
  
  
Brinker International Inc (a)
  
84,840
12,573,288
Cava Group Inc (a)(c)
  
186,630
15,391,376
Cheesecake Factory Inc/The
 
158,651
10,277,412
DraftKings Inc Class A (a)
  
166,107
3,959,991
Dutch Bros Inc Class A (a)
  
624,039
33,454,731
Expedia Group Inc Class A
 
120,404
25,969,939
First Watch Restaurant Group Inc (a)
  
1,031,521
12,852,752
Flutter Entertainment PLC (a)(c)
  
125,381
13,307,939
Hilton Worldwide Holdings Inc
 
270,771
84,420,982
Royal Caribbean Cruises Ltd
 
244,184
75,931,457
Texas Roadhouse Inc
 
198,128
36,231,667
Wingstop Inc
 
63,495
16,477,587
 
  
  
340,849,121
Household Durables - 2.6%
  
  
  
PulteGroup Inc
 
152,516
20,925,195
SharkNinja Inc (a)
  
306,031
37,602,029
Somnigroup International Inc
 
556,484
49,810,883
 
  
  
108,338,107
Specialty Retail - 2.7%
  
  
  
Carvana Co Class A (a)
  
164,725
55,044,506
Ross Stores Inc
 
104,900
21,571,636
Tractor Supply Co
 
260,144
13,485,865
Ulta Beauty Inc (a)
  
28,500
19,516,515
Wayfair Inc Class A (a)
  
12,838
979,925
 
  
  
110,598,447
Textiles, Apparel & Luxury Goods - 1.5%
  
  
  
Deckers Outdoor Corp (a)
  
60,234
7,063,641
Tapestry Inc
 
257,833
40,085,297
VF Corp
 
743,701
14,442,673
 
  
  
61,591,611
TOTAL CONSUMER DISCRETIONARY
  
  
621,377,286
Consumer Staples - 2.7%
  
  
  
Beverages - 0.3%
  
  
  
Celsius Holdings Inc (a)
  
240,936
12,916,579
Consumer Staples Distribution & Retail - 2.4%
  
  
  
Casey's General Stores Inc
 
67,559
46,317,775
Performance Food Group Co (a)
  
322,638
31,315,244
US Foods Holding Corp (a)
  
209,211
20,211,875
 
  
  
97,844,894
TOTAL CONSUMER STAPLES
  
  
110,761,473
Energy - 2.0%
  
  
  
Oil, Gas & Consumable Fuels - 2.0%
  
  
  
Cheniere Energy Inc
 
97,212
22,915,785
Targa Resources Corp
 
205,556
48,470,105
Texas Pacific Land Corp
 
17,595
9,224,882
TOTAL ENERGY
  
  
80,610,772
Financials - 4.1%
  
  
  
Capital Markets - 3.4%
  
  
  
Ameriprise Financial Inc
 
94,398
44,378,388
Ares Management Corp Class A
 
162,428
18,193,560
Cboe Global Markets Inc
 
42,700
12,798,044
Coinbase Global Inc Class A (a)
  
51,890
9,124,857
Jefferies Financial Group Inc (c)
  
197,519
8,769,843
LPL Financial Holdings Inc
 
61,172
18,374,845
Robinhood Markets Inc Class A (a)
  
344,135
26,102,640
 
  
  
137,742,177
Financial Services - 0.7%
  
  
  
Affirm Holdings Inc Class A (a)
  
412,929
19,399,404
Corpay Inc (a)
  
398
129,390
Toast Inc Class A (a)
  
476,303
13,007,835
 
  
  
32,536,629
TOTAL FINANCIALS
  
  
170,278,806
Health Care - 9.1%
  
  
  
Biotechnology - 3.3%
  
  
  
Alnylam Pharmaceuticals Inc (a)
  
148,880
49,565,130
Insmed Inc (a)
  
264,878
39,554,232
Natera Inc (a)
  
185,535
38,598,701
Neurocrine Biosciences Inc (a)
  
44,037
5,823,893
 
  
  
133,541,956
Health Care Equipment & Supplies - 1.3%
  
  
  
Dexcom Inc (a)
  
268,400
19,708,612
IDEXX Laboratories Inc (a)
  
31,700
20,818,341
Penumbra Inc (a)
  
2,611
899,202
TransMedics Group Inc (a)
  
91,354
13,270,082
 
  
  
54,696,237
Health Care Providers & Services - 3.5%
  
  
  
Cardinal Health Inc
 
202,414
46,399,361
Cencora Inc
 
264,129
98,292,966
 
  
  
144,692,327
Health Care Technology - 0.7%
  
  
  
Doximity Inc Class A (a)
  
169,851
4,166,445
Veeva Systems Inc Class A (a)
  
134,063
24,400,807
 
  
  
28,567,252
Life Sciences Tools & Services - 0.3%
  
  
  
Medpace Holdings Inc (a)
  
30,064
13,581,713
TOTAL HEALTH CARE
  
  
375,079,485
Industrials - 38.9%
  
  
  
Aerospace & Defense - 15.5%
  
  
  
AeroVironment Inc (a)(c)
  
21,000
5,297,250
ATI Inc (a)
  
344,021
56,278,395
Axon Enterprise Inc (a)
  
183,809
99,698,002
Beta Technologies Inc Class A (a)
  
21,670
407,396
Carpenter Technology Corp
 
86,866
34,578,749
HEICO Corp Class A
 
163,238
39,195,076
Howmet Aerospace Inc
 
861,583
226,191,385
Karman Holdings Inc (a)(c)
  
503,535
44,366,469
Leonardo DRS Inc
 
547,687
23,764,139
Loar Holdings Inc (a)
  
3,280
232,191
Rocket Lab Corp
 
546,909
37,791,412
StandardAero Inc (a)
  
44,136
1,359,389
VSE Corp
 
187,375
42,547,241
Woodward Inc
 
51,300
19,840,788
 
  
  
631,547,882
Building Products - 0.5%
  
  
  
Trane Technologies PLC
 
48,058
22,218,175
Commercial Services & Supplies - 0.9%
  
  
  
Cintas Corp
 
79,335
15,956,649
GFL Environmental Inc Subordinate Voting Shares (United States)
 
322,215
14,238,681
Veralto Corp
 
76,145
7,418,807
 
  
  
37,614,137
Construction & Engineering - 11.2%
  
  
  
API Group Corp (a)
  
500,586
22,256,054
Comfort Systems USA Inc
 
72,225
103,236,248
Construction Partners Inc Class A (a)
  
464,903
62,469,016
EMCOR Group Inc
 
63,142
45,753,956
Granite Construction Inc
 
187,779
25,248,764
IES Holdings Inc (a)
  
48,200
23,875,870
Legence Corp Class A
 
29,524
1,713,868
MasTec Inc (a)
  
140,279
41,805,948
Quanta Services Inc
 
107,398
60,473,666
Sterling Infrastructure Inc (a)(c)
  
172,856
74,004,839
 
  
  
460,838,229
Electrical Equipment - 2.3%
  
  
  
nVent Electric PLC
 
214,393
25,375,555
Vertiv Holdings Co Class A
 
276,222
70,406,226
 
  
  
95,781,781
Ground Transportation - 1.4%
  
  
  
Old Dominion Freight Line Inc
 
65,707
13,341,806
XPO Inc (a)
  
206,444
43,450,269
 
  
  
56,792,075
Machinery - 3.0%
  
  
  
Federal Signal Corp (c)
  
221,322
25,768,520
RBC Bearings Inc (a)
  
120,824
69,584,959
Westinghouse Air Brake Technologies Corp
 
104,277
27,523,914
 
  
  
122,877,393
Passenger Airlines - 0.4%
  
  
  
Delta Air Lines Inc
 
268,786
17,659,240
Professional Services - 0.4%
  
  
  
Booz Allen Hamilton Holding Corp Class A
 
194,800
15,356,083
Trading Companies & Distributors - 3.3%
  
  
  
Core & Main Inc Class A (a)
  
389,796
21,111,351
Fastenal Co
 
1,010,409
46,519,231
FTAI Aviation Ltd
 
67,500
20,641,500
WW Grainger Inc
 
40,011
45,801,792
 
  
  
134,073,874
TOTAL INDUSTRIALS
  
  
1,594,758,869
Information Technology - 13.2%
  
  
  
Communications Equipment - 0.8%
  
  
  
Lumentum Holdings Inc (a)
  
45,110
31,618,050
Electronic Equipment, Instruments & Components - 3.4%
  
  
  
Amphenol Corp Class A
 
177,256
25,890,011
Coherent Corp (a)
  
280,549
72,642,553
OSI Systems Inc (a)
  
148,730
42,417,796
 
  
  
140,950,360
IT Services - 1.4%
  
  
  
Cloudflare Inc Class A (a)
  
309,587
53,307,786
Gartner Inc (a)
  
19,492
3,064,142
 
  
  
56,371,928
Semiconductors & Semiconductor Equipment - 2.5%
  
  
  
Astera Labs Inc (a)
  
207,383
24,643,322
Monolithic Power Systems Inc
 
55,534
63,460,923
Onto Innovation Inc (a)
  
62,415
13,474,774
 
  
  
101,579,019
Software - 4.7%
  
  
  
Appfolio Inc Class A (a)
  
48,808
8,676,110
Cadence Design Systems Inc (a)
  
55,367
16,687,614
Datadog Inc Class A (a)
  
385,050
43,110,198
Fair Isaac Corp (a)
  
49,196
69,334,875
Guidewire Software Inc (a)
  
104,187
15,140,455
HubSpot Inc (a)
  
49,296
13,039,285
Onestream Inc Class A (a)
  
3,976
93,793
PAR Technology Corp (a)(c)
  
422,982
6,932,675
Unity Software Inc (a)
  
93,242
1,699,802
Zscaler Inc (a)
  
134,836
19,819,544
 
  
  
194,534,351
Technology Hardware, Storage & Peripherals - 0.4%
  
  
  
Pure Storage Inc Class A (a)
  
137,654
8,840,140
Super Micro Computer Inc (a)(c)
  
189,467
6,136,836
 
  
  
14,976,976
TOTAL INFORMATION TECHNOLOGY
  
  
540,030,684
Materials - 1.1%
  
  
  
Construction Materials - 1.1%
  
  
  
CRH PLC
 
182,686
21,918,666
Vulcan Materials Co
 
82,279
25,506,490
TOTAL MATERIALS
  
  
47,425,156
Real Estate - 1.8%
  
  
  
Health Care REITs - 0.8%
  
  
  
Welltower Inc
 
141,560
29,319,907
Real Estate Management & Development - 0.6%
  
  
  
CBRE Group Inc Class A (a)
  
118,100
17,438,646
Compass Inc Class A (a)
  
941,200
9,176,700
 
  
  
26,615,346
Specialized REITs - 0.4%
  
  
  
Iron Mountain Inc
 
154,193
16,703,728
TOTAL REAL ESTATE
  
  
72,638,981
Utilities - 3.1%
  
  
  
Electric Utilities - 1.3%
  
  
  
NRG Energy Inc
 
298,479
53,415,802
Independent Power and Renewable Electricity Producers - 1.8%
  
  
  
Talen Energy Corp (a)
  
47,495
17,619,220
Vistra Corp
 
321,765
55,951,716
 
  
  
73,570,936
TOTAL UTILITIES
  
  
126,986,738
TOTAL UNITED STATES
  
  
3,861,977,097
ZAMBIA - 0.4%
 
  
  
Materials - 0.4%
  
  
  
Metals & Mining - 0.4%
  
  
  
First Quantum Minerals Ltd (a)
  
549,400
16,449,174
 
TOTAL COMMON STOCKS
 (Cost $3,057,411,781)
  
  
  
4,072,436,074
 
  
  
  
Convertible Preferred Stocks - 0.1%
 
  
Shares
Value ($)
 
UNITED STATES - 0.1%
 
  
  
Information Technology - 0.1%
  
  
  
Software - 0.1%
  
  
  
Databricks Inc Series L (d)(e)
  (Cost $6,194,000)
  
32,600
5,858,220
 
  
  
  
Money Market Funds - 3.0%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Securities Lending Cash Central Fund (f)(g)
 (Cost $121,602,839)
  
3.69
121,590,680
121,602,839
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 102.3%
 (Cost $3,185,208,620)
 
  
 
4,199,897,133
NET OTHER ASSETS (LIABILITIES) - (2.3)%  
(95,098,045)
NET ASSETS - 100.0%
4,104,799,088
 
  
Legend
 
(a)
Non-income producing.
 
(b)
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $11,799,766 or 0.3% of net assets.
 
(c)
Security or a portion of the security is on loan at period end.
 
(d)
Level 3 security.
 
(e)
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 $5,858,220 or 0.1% of net assets.
 
(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.
 
At period end, the value of non-cash collateral for securities on loan amounted to $3,638,907.
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Databricks Inc Series L
12/18/2025
6,194,000
 
  
  
 
 
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
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
5,737,368
170,252,401
175,989,136
41,697
(633)
-
-
-
0.0%
Fidelity Securities Lending Cash Central Fund
66,702,541
374,334,404
319,435,383
40,503
1,277
-
121,602,839
121,590,680
0.3%
Total
72,439,909
544,586,805
495,424,519
82,200
644
-
121,602,839
  
  
 
  
  
  
  
  
  
  
  
  
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 income 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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