Strategy. Normally investing at least 80% of assets in securities of disruptive medicine companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Disruptive medicine companies are companies that have or are developing innovative ways of doing business that may be disruptive in the development, design, manufacture, or distribution of products, processes, or services in the medical field. Companies within the disruptive medicine theme include but … Show more… Normally investing at least 80% of assets in securities of disruptive medicine companies. Fidelity's disruptive strategies seek to identify innovative developments that could signal new directions for delivering products and services to customers. Generally, these companies have or are developing new or unconventional ways of doing business that could disrupt and displace incumbents over time. This may include creating, providing, or contributing to new or expanded business models, value networks, pricing, and delivery of products and services. Disruptive medicine companies are companies that have or are developing innovative ways of doing business that may be disruptive in the development, design, manufacture, or distribution of products, processes, or services in the medical field. Companies within the disruptive medicine theme include but are not limited to those companies that, in the Adviser's opinion, are engaged in robotic surgery, cell and gene therapy, genomics, rare diseases, medical devices and equipment, immunotherapy, technology-based health care platforms, precision medicine, advanced diagnostics and consumer wellness. In pursuing this investment theme, the fund may invest in companies in any economic sector. Although the fund may invest across economic sectors, the fund concentrates its investments in the health care industries. Fidelity may consider a company to fit within the disruptive theme if it meets one or more of the following criteria: (i) the company has new and/or evolving business models that have the potential to transform an industry or challenge incumbents, (ii) the company is early to market with a product or solution that has the potential to substantially impact the industry, (iii) the company possesses competitive advantages that set it apart from its competitors, (iv) the company issues patents for innovative products or services with high potential impact in the market, or (v) the company's long-term financial outlook is positioned to benefit substantially from innovation and research and development conducted by the company. Effective December 11, 2025, derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. Normally investing primarily in equity securities. Using fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments with quantitative portfolio construction. Investing in either "growth" stocks or "value" stocks or both. Investing in securities of domestic and foreign issuers. Show less