Quarterly Holdings Report
for
Fidelity® Growth Strategies Fund
August 31, 2026
FEG-NPRT3-1026
1.805759.122
Common Stocks - 99.0%
 
  
Shares
Value ($)
 
AUSTRALIA - 2.6%
 
  
  
Materials - 2.6%
  
  
  
Metals & Mining - 2.6%
  
  
  
Anglogold Ashanti Plc
 
911,600
102,390,912
CANADA - 0.6%
 
  
  
Consumer Discretionary - 0.6%
  
  
  
Specialty Retail - 0.6%
  
  
  
Aritzia Inc Subordinate Voting Shares (a)
  
233,713
22,270,988
KOREA (SOUTH) - 0.7%
 
  
  
Consumer Discretionary - 0.7%
  
  
  
Broadline Retail - 0.7%
  
  
  
Coupang Inc Class A (a)
  
1,784,612
28,660,869
SWITZERLAND - 0.1%
 
  
  
Consumer Discretionary - 0.1%
  
  
  
Textiles, Apparel & Luxury Goods - 0.1%
  
  
  
On Holding AG Class A (a)
  
192,400
5,483,400
THAILAND - 0.2%
 
  
  
Information Technology - 0.2%
  
  
  
Electronic Equipment, Instruments & Components - 0.2%
  
  
  
Fabrinet (a)
  
20,600
8,506,358
UNITED KINGDOM - 0.3%
 
  
  
Energy - 0.3%
  
  
  
Energy Equipment & Services - 0.3%
  
  
  
TechnipFMC PLC
 
136,844
10,694,359
UNITED STATES - 94.5%
 
  
  
Communication Services - 0.5%
  
  
  
Diversified Telecommunication Services - 0.3%
  
  
  
AST SpaceMobile Inc Class A (a)(b)
  
185,962
10,990,354
Entertainment - 0.2%
  
  
  
ROBLOX Corp Class A (a)
  
222,372
9,181,740
TOTAL COMMUNICATION SERVICES
  
  
20,172,094
Consumer Discretionary - 7.7%
  
  
  
Automobile Components - 0.2%
  
  
  
Cooper-Standard Holdings Inc (a)
  
276,200
7,396,636
Hotels, Restaurants & Leisure - 4.2%
  
  
  
Brinker International Inc (a)
  
91,140
20,825,490
Carnival Corp Ltd
 
1,445,300
34,528,217
DraftKings Inc Class A (a)
  
67,907
1,649,460
Dutch Bros Inc Class A (a)
  
573,039
27,998,686
Royal Caribbean Cruises Ltd
 
113,784
30,578,312
Texas Roadhouse Inc
 
203,428
39,790,517
Wingstop Inc
 
84,295
9,228,617
 
  
  
164,599,299
Household Durables - 2.8%
  
  
  
Garmin Ltd
 
136,300
38,724,193
SharkNinja Inc (a)(b)
  
306,031
58,907,907
Somnigroup International Inc
 
193,125
12,504,844
 
  
  
110,136,944
Specialty Retail - 0.0%
  
  
  
Wayfair Inc Class A (a)
  
12,838
1,274,428
Textiles, Apparel & Luxury Goods - 0.5%
  
  
  
Tapestry Inc
 
159,233
19,647,760
TOTAL CONSUMER DISCRETIONARY
  
  
303,055,067
Consumer Staples - 3.6%
  
  
  
Beverages - 0.3%
  
  
  
Celsius Holdings Inc (a)(b)
  
448,136
14,093,877
Consumer Staples Distribution & Retail - 3.3%
  
  
  
Casey's General Stores Inc
 
90,359
67,968,944
Performance Food Group Co (a)
  
422,038
41,853,508
US Foods Holding Corp (a)
  
181,311
19,008,645
 
  
  
128,831,097
TOTAL CONSUMER STAPLES
  
  
142,924,974
Energy - 1.8%
  
  
  
Oil, Gas & Consumable Fuels - 1.8%
  
  
  
Marathon Petroleum Corp
 
88,100
32,889,492
Targa Resources Corp
 
123,656
36,311,584
TOTAL ENERGY
  
  
69,201,076
Financials - 3.9%
  
  
  
Capital Markets - 3.4%
  
  
  
Cboe Global Markets Inc
 
94,300
28,308,860
Galaxy Digital Inc Class A (a)(b)
  
346,900
8,533,740
Robinhood Markets Inc Class A (a)
  
906,835
95,045,377
 
  
  
131,887,977
Financial Services - 0.5%
  
  
  
Remitly Global Inc (a)
  
306,000
8,182,440
Toast Inc Class A (a)
  
370,703
12,637,265
 
  
  
20,819,705
TOTAL FINANCIALS
  
  
152,707,682
Health Care - 6.2%
  
  
  
Biotechnology - 2.8%
  
  
  
Alnylam Pharmaceuticals Inc (a)
  
30,080
7,239,955
Insmed Inc (a)
  
224,900
27,397,318
Natera Inc (a)
  
93,735
30,178,921
Revolution Medicines Inc (a)
  
215,100
44,218,107
 
  
  
109,034,301
Health Care Equipment & Supplies - 1.7%
  
  
  
Dexcom Inc (a)
  
452,500
41,204,650
IDEXX Laboratories Inc (a)
  
35,400
19,706,826
TransMedics Group Inc (a)
  
91,354
7,753,214
 
  
  
68,664,690
Health Care Providers & Services - 1.1%
  
  
  
Cardinal Health Inc
 
34,014
7,980,365
Cencora Inc
 
106,529
34,472,784
 
  
  
42,453,149
Health Care Technology - 0.6%
  
  
  
Veeva Systems Inc Class A (a)
  
84,663
24,187,372
TOTAL HEALTH CARE
  
  
244,339,512
Industrials - 40.5%
  
  
  
Aerospace & Defense - 13.8%
  
  
  
ATI Inc (a)
  
552,721
112,865,628
Axon Enterprise Inc (a)
  
128,309
72,694,747
Beta Technologies Inc Class A (a)
  
21,670
435,567
Carpenter Technology Corp
 
79,966
38,097,402
Curtiss-Wright Corp
 
23,000
13,398,190
FTAI Aviation Ltd
 
80,600
15,322,060
HEICO Corp Class A
 
26,338
6,430,949
Howmet Aerospace Inc
 
314,683
77,081,601
Karman Holdings Inc (a)(b)
  
623,835
25,857,961
Mercury Systems Inc (a)
  
386,700
33,770,511
Rocket Lab Corp (a)
  
657,209
42,008,799
VSE Corp (b)
  
240,775
50,244,927
Woodward Inc
 
159,800
54,303,236
 
  
  
542,511,578
Building Products - 1.2%
  
  
  
Modine Manufacturing Co (a)
  
66,600
11,883,438
Trane Technologies PLC
 
83,658
37,177,615
 
  
  
49,061,053
Commercial Services & Supplies - 1.0%
  
  
  
Cintas Corp
 
194,135
39,174,502
Construction & Engineering - 12.5%
  
  
  
API Group Corp (a)
  
908,586
35,662,001
Comfort Systems USA Inc
 
61,925
95,712,519
Construction Partners Inc Class A (a)(b)
  
528,072
56,081,246
EMCOR Group Inc
 
80,242
58,940,959
Granite Construction Inc
 
416,779
50,246,876
IES Holdings Inc (a)
  
40,400
12,241,199
MasTec Inc (a)
  
218,079
52,290,983
Sterling Infrastructure Inc (a)
  
275,756
129,624,623
 
  
  
490,800,406
Electrical Equipment - 2.9%
  
  
  
Forgent Power Solutions Inc Class A
 
730,100
22,297,254
Nextpower Inc (a)
  
166,500
13,657,995
nVent Electric PLC
 
388,393
58,550,245
Rockwell Automation Inc
 
43,800
18,590,034
 
  
  
113,095,528
Ground Transportation - 1.8%
  
  
  
Old Dominion Freight Line Inc
 
94,307
18,857,627
XPO Inc (a)
  
269,644
52,308,240
 
  
  
71,165,867
Machinery - 4.9%
  
  
  
ESCO Technologies Inc
 
47,800
13,050,834
Federal Signal Corp
 
203,222
23,776,974
Mayville Engineering Co Inc (a)(c)
  
1,282,500
24,829,200
RBC Bearings Inc (a)
  
161,524
79,834,852
Westinghouse Air Brake Technologies Corp
 
179,977
51,460,824
 
  
  
192,952,684
Passenger Airlines - 0.6%
  
  
  
Delta Air Lines Inc
 
305,686
23,843,508
Trading Companies & Distributors - 1.8%
  
  
  
Fastenal Co
 
196,509
9,689,859
QXO Inc (a)(b)
  
907,500
12,051,600
WW Grainger Inc
 
11,111
14,549,743
Xometry Inc Class A (a)
  
394,100
36,529,129
 
  
  
72,820,331
TOTAL INDUSTRIALS
  
  
1,595,425,457
Information Technology - 22.8%
  
  
  
Communications Equipment - 1.9%
  
  
  
Lumentum Holdings Inc (a)
  
83,510
76,391,608
Electronic Equipment, Instruments & Components - 6.1%
  
  
  
Advanced Energy Industries Inc
 
85,700
23,726,902
Coherent Corp (a)
  
236,349
65,664,843
Flex Ltd (a)
  
502,600
54,909,050
Keysight Technologies Inc (a)
  
116,400
37,562,280
nLight Inc (a)
  
325,400
13,754,658
OSI Systems Inc (a)
  
124,730
25,932,614
TTM Technologies Inc (a)
  
160,000
19,027,200
 
  
  
240,577,547
IT Services - 5.1%
  
  
  
Cloudflare Inc Class A (a)
  
404,787
123,504,562
Gartner Inc (a)
  
46,092
9,131,286
Snowflake Inc (a)
  
210,900
69,898,587
 
  
  
202,534,435
Semiconductors & Semiconductor Equipment - 5.6%
  
  
  
Astera Labs Inc (a)
  
200,783
59,628,535
Credo Technology Group Holding Ltd (a)
  
197,300
44,627,287
Lattice Semiconductor Corp (a)
  
74,700
8,615,898
MACOM Technology Solutions Holdings Inc (a)
  
111,000
29,285,130
Microchip Technology Inc
 
339,800
24,958,310
Onto Innovation Inc (a)
  
28,515
7,619,493
Teradyne Inc
 
127,100
44,463,393
 
  
  
219,198,046
Software - 3.6%
  
  
  
Appfolio Inc Class A (a)(b)
  
181,508
42,510,989
Cadence Design Systems Inc (a)
  
104,267
35,323,574
Datadog Inc Class A (a)
  
265,950
63,040,788
 
  
  
140,875,351
Technology Hardware, Storage & Peripherals - 0.5%
  
  
  
Everpure Inc Class A (a)
  
137,654
12,794,939
Sandisk Corp (a)
  
5,000
7,833,500
 
  
  
20,628,439
TOTAL INFORMATION TECHNOLOGY
  
  
900,205,426
Materials - 2.4%
  
  
  
Chemicals - 0.3%
  
  
  
Solstice Advanced Materials Inc
 
188,600
11,955,354
Construction Materials - 2.1%
  
  
  
CRH PLC
 
336,686
31,746,123
Suncrete Inc Class A
 
920,400
15,784,860
Vulcan Materials Co
 
135,479
36,522,429
 
  
  
84,053,412
TOTAL MATERIALS
  
  
96,008,766
Real Estate - 3.5%
  
  
  
Health Care REITs - 1.2%
  
  
  
Welltower Inc
 
197,860
46,742,446
Real Estate Management & Development - 0.3%
  
  
  
CBRE Group Inc Class A (a)
  
94,400
13,764,464
Retail REITs - 1.5%
  
  
  
Simon Property Group Inc
 
263,700
55,988,784
Specialized REITs - 0.5%
  
  
  
Iron Mountain Inc
 
172,393
19,885,533
TOTAL REAL ESTATE
  
  
136,381,227
Utilities - 1.6%
  
  
  
Electric Utilities - 0.3%
  
  
  
NRG Energy Inc
 
92,579
10,194,799
Independent Power and Renewable Electricity Producers - 1.3%
  
  
  
Talen Energy Corp (a)
  
34,995
10,350,121
Vistra Corp
 
303,065
41,632,040
 
  
  
51,982,161
TOTAL UTILITIES
  
  
62,176,960
TOTAL UNITED STATES
  
  
3,722,598,241
 
TOTAL COMMON STOCKS
 (Cost $3,267,659,584)
  
  
  
3,900,605,127
 
  
  
  
Convertible Preferred Stocks - 0.9%
 
  
Shares
Value ($)
 
UNITED STATES - 0.9%
 
  
  
Industrials - 0.2%
  
  
  
Aerospace & Defense - 0.2%
  
  
  
Anduril Industries Inc Series H (d)(e)
  
111,700
8,209,949
Information Technology - 0.7%
  
  
  
Software - 0.7%
  
  
  
Anthropic PBC Series H (d)(e)
  
24,000
18,660,720
Databricks Inc Series L (d)(e)
  
32,600
8,247,800
TOTAL INFORMATION TECHNOLOGY
  
  
26,908,520
TOTAL UNITED STATES
  
  
35,118,469
 
TOTAL CONVERTIBLE PREFERRED STOCKS
 (Cost $28,032,244)
  
  
  
35,118,469
 
  
  
  
Money Market Funds - 1.2%
 
  
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (f)
  
3.69
10,550,844
10,552,954
Fidelity Securities Lending Cash Central Fund (f)(g)
  
3.72
37,689,779
37,693,549
 
TOTAL MONEY MARKET FUNDS
 (Cost $48,246,503)
  
  
  
48,246,503
 
  
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 101.1%
 (Cost $3,343,938,331)
 
  
 
3,983,970,099
NET OTHER ASSETS (LIABILITIES) - (1.1)%  
(41,858,387)
NET ASSETS - 100.0%
3,942,111,712
 
  
 
Legend
 
(a)
Non-income producing.
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Affiliated company.
 
(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 $35,118,469 or 0.9% 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 $134,974,569.
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
Anduril Industries Inc Series H
5/12/2026
7,702,016
 
  
  
Anthropic PBC Series H
5/28/2026
14,136,228
 
  
  
Databricks Inc Series L
12/18/2025
6,194,000
 
  
  
 
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated underlying funds is presented below. Exchanges between classes of the same affiliated underlying funds may occur. If an underlying fund changes its name, the name presented below is the name in effect at period end.
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
Fidelity Cash Central Fund
5,737,368
494,490,663
489,680,042
132,092
4,965
-
10,552,954
10,550,844
Fidelity Securities Lending Cash Central Fund
66,702,541
960,713,264
989,723,533
168,716
1,277
-
37,693,549
37,689,779
 
72,439,909
1,455,203,927
1,479,403,575
300,808
6,242
-
48,246,503
  
 
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.
 
Other Affiliated Issuers
An affiliated company is a company in which the Fund has ownership of at least 5% of the voting securities. Fiscal year to date transactions with companies which are or were affiliates are presented in the table below. Certain corporate actions, such as mergers, are excluded from the amounts in this table if applicable. A dash in the Value end of period ($) column means either the issuer is no longer held at period end, or the issuer is held at period end but is no longer an affiliate.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
  
 
Shares,
end
of period
Mayville Engineering Co Inc
-
45,583,526
1,232,725
-
(551,345)
(18,970,256)
24,829,200
1,282,500
Total
-
45,583,526
1,232,725
-
(551,345)
(18,970,256)
24,829,200
  
 
 
 
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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