Fidelity Growth Strategies Fund’s Q4 2025 Investor Letter

Fidelity Investments, an investment management company, recently released its “Fidelity Growth Strategies Fund” fourth-quarter 2025 investor letter. The Fidelity Growth Strategy is a diversified equity strategy aimed at domestic midcap growth stocks. The approach focuses on identifying quality companies that deliver steady above-average growth and can outperform over time. The Fund (Retail Class shares) returned -3.44% in the quarter compared to the benchmark Russell Midcap® Growth Index’s -3.70% return. In Q4, the U.S. stock market continued its rapid rebound, driven by robust corporate fundamentals and strong spending on artificial intelligence. Mid-cap growth stocks underperformed, while large-cap stocks gained mainly from a narrow group of companies connected to generative AI, and small-cap equities benefited from interest rate sensitivity. As 2026 begins, the firm believes the business cycles in the U.S. and globally remain positive. The Strategy remains focused on companies possessing durable competitive advantages and growth potential. Please review the Fund’s top five holdings to gain insights into their key selections for 2025.

A copy of Fidelity Growth Strategies Fund’s Q4 2025 investor letter can be downloaded here.