<PAGE> PAGE 1
000 A000000 05/31/97
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008 A00AA02 FIDELITY MANAGEMENT & RESEARCH (U.K.) INC.
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008 D01AA02 LONDON
008 D05AA02 ENGLAND
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<PAGE> PAGE 2
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008 D01AA03 TOKYO
008 D05AA03 JAPAN
011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION
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011 C01AA01 BOSTON
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012 A00AA01 FIDELITY SERVICE COMPANY, INC.
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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SIGNATURE JOHN H. COSTELLO
TITLE ASST. TREASURER
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0
<PAID-IN-CAPITAL-COMMON>
993,013
<SHARES-COMMON-STOCK>
61,225
<SHARES-COMMON-PRIOR>
60,920
<ACCUMULATED-NII-CURRENT>
(341)
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
85,592
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
293,557
<NET-ASSETS>
1,371,821
<DIVIDEND-INCOME>
3,613
<INTEREST-INCOME>
2,131
<OTHER-INCOME>
0
<EXPENSES-NET>
6,085
<NET-INVESTMENT-INCOME>
(341)
<REALIZED-GAINS-CURRENT>
87,249
<APPREC-INCREASE-CURRENT>
43,889
<NET-CHANGE-FROM-OPS>
130,797
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
33,238
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
16,223
<NUMBER-OF-SHARES-REDEEMED>
17,555
<SHARES-REINVESTED>
1,637
<NET-CHANGE-IN-ASSETS>
105,277
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
49,080
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
4,741
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
6,416
<AVERAGE-NET-ASSETS>
1,286,587
<PER-SHARE-NAV-BEGIN>
20.790
<PER-SHARE-NII>
(.010)
<PER-SHARE-GAIN-APPREC>
2.180
<PER-SHARE-DIVIDEND>
0
<PER-SHARE-DISTRIBUTIONS>
.550
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
22.410
<EXPENSE-RATIO>
101
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000707823
<NAME> Fidelity Mt. Vernon Street Trust
<SERIES>
<NUMBER> 2
<NAME> Fidelity Emerging Growth Fund
<MULTIPLIER> 1,000
<S>
<C>
<PERIOD-TYPE>
6-mos
<FISCAL-YEAR-END>
nov-30-1997
<PERIOD-END>
may-31-1997
<INVESTMENTS-AT-COST>
1,510,566
<INVESTMENTS-AT-VALUE>
1,828,564
<RECEIVABLES>
70,056
<ASSETS-OTHER>
90
<OTHER-ITEMS-ASSETS>
0
<TOTAL-ASSETS>
1,898,710
<PAYABLE-FOR-SECURITIES>
84,352
<SENIOR-LONG-TERM-DEBT>
0
<OTHER-ITEMS-LIABILITIES>
6,121
<TOTAL-LIABILITIES>
90,473
<SENIOR-EQUITY>
0
<PAID-IN-CAPITAL-COMMON>
1,299,290
<SHARES-COMMON-STOCK>
67,640
<SHARES-COMMON-PRIOR>
73,552
<ACCUMULATED-NII-CURRENT>
(4,497)
<OVERDISTRIBUTION-NII>
0
<ACCUMULATED-NET-GAINS>
195,442
<OVERDISTRIBUTION-GAINS>
0
<ACCUM-APPREC-OR-DEPREC>
318,002
<NET-ASSETS>
1,808,237
<DIVIDEND-INCOME>
2,140
<INTEREST-INCOME>
3,177
<OTHER-INCOME>
0
<EXPENSES-NET>
9,814
<NET-INVESTMENT-INCOME>
(4,497)
<REALIZED-GAINS-CURRENT>
200,752
<APPREC-INCREASE-CURRENT>
(155,324)
<NET-CHANGE-FROM-OPS>
40,931
<EQUALIZATION>
0
<DISTRIBUTIONS-OF-INCOME>
0
<DISTRIBUTIONS-OF-GAINS>
23,421
<DISTRIBUTIONS-OTHER>
0
<NUMBER-OF-SHARES-SOLD>
10,408
<NUMBER-OF-SHARES-REDEEMED>
17,233
<SHARES-REINVESTED>
913
<NET-CHANGE-IN-ASSETS>
(130,974)
<ACCUMULATED-NII-PRIOR>
0
<ACCUMULATED-GAINS-PRIOR>
23,065
<OVERDISTRIB-NII-PRIOR>
0
<OVERDIST-NET-GAINS-PRIOR>
0
<GROSS-ADVISORY-FEES>
7,102
<INTEREST-EXPENSE>
0
<GROSS-EXPENSE>
10,057
<AVERAGE-NET-ASSETS>
1,822,238
<PER-SHARE-NAV-BEGIN>
26.370
<PER-SHARE-NII>
(.060)
<PER-SHARE-GAIN-APPREC>
.740
<PER-SHARE-DIVIDEND>
0
<PER-SHARE-DISTRIBUTIONS>
.320
<RETURNS-OF-CAPITAL>
0
<PER-SHARE-NAV-END>
26.730
<EXPENSE-RATIO>
111
<AVG-DEBT-OUTSTANDING>
0
<AVG-DEBT-PER-SHARE>
0
</TABLE>
