FIDELITY SECURITIES FUND
NSAR-A, 1997-03-27
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<PAGE>      PAGE  1
000 A000000 01/31/97
000 C000000 0000754510
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FIDELITY SECURITIES FUND
001 B000000 811-4118
001 C000000 6175635022
002 A000000 82 DEVONSHIRE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 FIDELITY OTC PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 FIDELITY GROWTH & INCOME PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 FIDELITY BLUE CHIP GROWTH FUND
007 C030300 N
007 C010400  4
007 C020400 FIDELITY DIVIDEND GROWTH FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FIDELITY MANAGEMENT & RESEARCH COMPANY
008 B00AA01 A
008 C00AA01 801-7884
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
008 A00AA02 FIDELITY MANAGEMENT & RESEARCH (U.K.) INC.
008 B00AA02 S
008 C00AA02 801-28773
008 D01AA02 LONDON
008 D05AA02 ENGLAND
<PAGE>      PAGE  2
008 A00AA03 FIDELITY MANAGEMENT & RESEARCH (FAR EAST) INC
008 B00AA03 S
008 C00AA03 801-28774
008 D01AA03 TOKYO
008 D05AA03 JAPAN
011 A00AA01 FIDELITY DISTRIBUTORS CORPORATION
011 B00AA01 8-8775
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
012 A00AA01 FIDELITY SERVICE COMPANY, INC.
012 B00AA01 84-00216
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 FIDELITY BROKERAGE SERVICES, INC.
014 B00AA01 8-23292
014 A00AA02 FIDELITY DISTRIBUTORS CORPORATION
014 B00AA02 8-8775
014 A00AA03 FIDELITY BROKERAGE SERVICES
014 B00AA03 8-00000
018  00AA00 Y
019 A00AA00 Y
019 B00AA00  238
019 C00AA00 FIDELITYZZ
020 A000001 FIDELITY BROKERAGE SERVICES INC.
020 B000001 04-2270522
020 C000001   1193
020 A000002 INSTINET CORPORATION
020 B000002 13-3443395
020 C000002    876
020 A000003 MORGAN STANLEY & CO. INC.
020 B000003 13-2655998
020 C000003    651
020 A000004 PAINEWEBBER INC.
020 B000004 13-2638166
020 C000004    549
020 A000005 SCHRODER WERTHEIM & CO. INC.
020 B000005 13-2697272
020 C000005    330
020 A000006 SALOMON BROTHERS INC.
020 B000006 13-3082694
020 C000006    310
020 A000007 CS FIRST BOSTON CORPORATION
020 B000007 13-5659485
020 C000007    270
020 A000008 BROWN (ALEX) & SONS INC.
<PAGE>      PAGE  3
020 B000008 52-1319768
020 C000008    215
020 A000009 SMITH BARNEY INC.
020 B000009 13-1912900
020 C000009    203
020 A000010 GOLDMAN, SACHS & CO.
020 B000010 13-5108880
020 C000010    196
021  000000     7907
022 A000001 TAXABLE CENTRAL CASH FUND
022 B000001 04-3331103
022 C000001   4255612
022 D000001   1879658
022 A000002 SMITH BARNEY INC.
022 B000002 13-1912900
022 C000002    528685
022 D000002    561887
022 A000003 GOLDMAN, SACHS & CO.
022 B000003 13-5108880
022 C000003    667745
022 D000003    225933
022 A000004 INSTINET CORPORATION
022 B000004 13-3443395
022 C000004    416418
022 D000004    376452
022 A000005 MORGAN STANLEY & CO. INC.
022 B000005 13-2655998
022 C000005    149524
022 D000005    158678
022 A000006 LEHMAN BROTHERS INC.
022 B000006 13-2518466
022 C000006    187013
022 D000006     48364
022 A000007 BROWN (ALEX) & SONS INC.
022 B000007 52-1319768
022 C000007    178419
022 D000007     50241
022 A000008 DONALDSON LUFKIN & JENRETTE SECURITIES CORP.
022 B000008 13-2741729
022 C000008    131291
022 D000008     84921
022 A000009 FIDELITY GROWTH COMPANY FUND
022 B000009 04-2778701
022 C000009     17015
022 D000009    178621
022 A000010 CS FIRST BOSTON CORPORATION
022 B000010 13-5659485
022 C000010     91277
022 D000010     81593
023 C000000  197631260
023 D000000    4987655
<PAGE>      PAGE  4
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 Y
027  000000 Y
042 A00AA00   0
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042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
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044  00AA00      0
045  00AA00 Y
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047  00AA00 N
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054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
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054 E00AA00 N
<PAGE>      PAGE  5
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
058 A00AA00 N
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060 A00AA00 Y
060 B00AA00 Y
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077 A000000 N
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<PAGE>      PAGE  6
086 E020000      0
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086 F020000      0
015 A000101 BROWN BROTHERS HARRIMAN & CO.
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02109
015 E010101 X
024  000100 Y
025 A000101 TAXABLE CENTRAL CASH FUND
025 B000101 04-3331103
025 C000101 E
025 D000101  181204
025 D000102       0
025 D000103       0
025 D000104       0
025 D000105       0
025 D000106       0
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028 C010100    234228
028 C020100         1
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028 F020100         0
028 F030100         0
028 F040100    228174
028 G010100   1607844
028 G020100    390322
028 G030100         0
028 G040100   1315493
028 H000100     10349
029  000100 Y
<PAGE>      PAGE  7
030 A000100    320
030 B000100  3.00
030 C000100  0.00
031 A000100    320
031 B000100      0
032  000100      0
033  000100      0
034  000100 N
035  000100      0
036 B000100      0
037  000100 N
038  000100      0
039  000100 N
040  000100 N
049  000100 N
050  000100 N
051  000100 Y
052  000100 Y
053 A000100 Y
053 B000100 Y
053 C000100 N
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
<PAGE>      PAGE  8
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 Y
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100      2781
071 B000100      2492
071 C000100      2999
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<PAGE>      PAGE  9
072AA000100   318631
072BB000100        0
072CC010100   368935
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072DD010100     6872
072DD020100        0
072EE000100   391420
073 A010100   0.0800
073 A020100   0.0000
073 B000100   4.3200
073 C000100   0.0000
074 A000100        0
074 B000100    11815
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100  3452567
074 G000100        0
074 H000100        0
074 I000100   181204
074 J000100    80208
074 K000100        0
074 L000100    15150
074 M000100        0
074 N000100  3740944
074 O000100   114054
074 P000100     1564
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100    21787
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076  000100     0.00
015 A000201 THE CHASE MANHATTAN BANK
015 B000201 C
015 C010201 NEW YORK
015 C020201 NY
015 C030201 10081
015 E010201 X
024  000200 Y
<PAGE>      PAGE  10
025 A000201 SALOMON BROTHERS INC.
025 B000201 13-3082694
025 C000201 E
025 D000201    6493
025 A000202 LEHMAN BROTHERS INC.
025 B000202 13-2518466
025 C000202 E
025 D000202   90654
025 A000203 TAXABLE CENTRAL CASH FUND
025 B000203 04-3331103
025 C000203 E
025 D000203 1451324
025 D000204       0
025 D000205       0
025 D000206       0
025 D000207       0
025 D000208       0
028 A010200    736000
028 A020200         0
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028 B010200    689902
028 B020200    767316
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028 C010200    890577
028 C020200        18
028 C030200         0
028 C040200    435117
028 D010200    753185
028 D020200         4
028 D030200         0
028 D040200    373059
028 E010200    623615
028 E020200    195812
028 E030200         0
028 E040200    485091
028 F010200   1070676
028 F020200         6
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028 F040200    544355
028 G010200   4763955
028 G020200    963156
028 G030200         0
028 G040200   2390057
028 H000200         0
029  000200 N
030 A000200      0
030 B000200  0.00
030 C000200  0.00
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<PAGE>      PAGE  11
031 B000200      0
032  000200      0
033  000200      0
034  000200 N
035  000200      0
036 B000200      0
037  000200 N
038  000200      0
039  000200 N
040  000200 N
049  000200 N
050  000200 N
051  000200 N
052  000200 Y
053 A000200 Y
053 B000200 Y
053 C000200 N
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
<PAGE>      PAGE  12
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
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070 N020200 Y
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<PAGE>      PAGE  13
072DD010200   191527
072DD020200        0
072EE000200   790988
073 A010200   0.2600
073 A020200   0.0000
073 B000200   1.1200
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074 A000200        1
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074 F000200 23599094
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015 A000301 BROWN BROTHERS HARRIMAN & CO.
015 B000301 C
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015 C020301 MA
015 C030301 02109
015 E010301 X
024  000300 Y
025 A000301 TAXABLE CENTRAL CASH FUND
025 B000301 04-3331103
025 C000301 E
025 D000301  535014
<PAGE>      PAGE  14
025 A000302 DELETE
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034  000300 Y
035  000300     12
<PAGE>      PAGE  15
036 A000300 N
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037  000300 N
038  000300      0
039  000300 N
040  000300 N
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050  000300 N
051  000300 Y
052  000300 Y
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053 B000300 Y
053 C000300 N
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 Y
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070 C020300 N
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070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
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<PAGE>      PAGE  16
070 L020300 Y
070 M010300 Y
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<PAGE>      PAGE  17
073 A020300   0.0000
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015 A000401 BROWN BROTHERS HARRIMAN & CO.
015 B000401 C
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015 E010401 X
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<PAGE>      PAGE  18
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028 F030400         0
028 F040400    224120
028 G010400   2217998
028 G020400     36072
028 G030400         0
028 G040400    812248
028 H000400         0
029  000400 N
030 A000400      0
030 B000400  0.00
030 C000400  0.00
031 A000400      0
031 B000400      0
032  000400      0
033  000400      0
034  000400 N
035  000400      0
036 B000400      0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 N
049  000400 N
<PAGE>      PAGE  19
050  000400 N
051  000400 Y
052  000400 Y
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
<PAGE>      PAGE  20
070 P010400 Y
070 P020400 Y
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400   2393791
071 B000400   1048077
071 C000400   1788885
071 D000400   59
072 A000400  6
072 B000400     3567
072 C000400    13519
072 D000400        0
072 E000400        0
072 F000400     6067
072 G000400        0
072 H000400        0
072 I000400     2117
072 J000400       50
072 K000400        0
072 L000400        0
072 M000400        5
072 N000400      607
072 O000400        0
072 P000400        0
072 Q000400      340
072 R000400       17
072 S000400        3
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        5
072 X000400     9211
072 Y000400      341
072 Z000400     8216
072AA000400    86851
072BB000400        0
072CC010400   276168
072CC020400        0
072DD010400     8329
072DD020400        0
072EE000400    28170
073 A010400   0.0900
073 A020400   0.0000
073 B000400   0.3700
073 C000400   0.0000
074 A000400      906
074 B000400        0
074 C000400        0
074 D000400    19425
<PAGE>      PAGE  21
074 E000400    14269
074 F000400  2806577
074 G000400        0
074 H000400        0
074 I000400   208413
074 J000400   120209
074 K000400        0
074 L000400    36997
074 M000400        0
074 N000400  3206796
074 O000400   196884
074 P000400     1466
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400    12019
074 S000400        0
074 T000400  2996427
074 U010400   144761
074 U020400        0
074 V010400    20.70
074 V020400     0.00
074 W000400   0.0000
074 X000400   218122
074 Y000400        0
075 A000400        0
075 B000400  1854112
076  000400     0.00
SIGNATURE   JOHN H. COSTELLO                             
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        11


        <NAME>      Fidelity OTC Portfolio


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

Jul-31-1997


<PERIOD-END>

Jan-31-1997


<INVESTMENTS-AT-COST>

3,001,940


<INVESTMENTS-AT-VALUE>

3,645,586


<RECEIVABLES>

95,358


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

3,740,944


<PAYABLE-FOR-SECURITIES>

114,054


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

23,351


<TOTAL-LIABILITIES>

137,405


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

2,813,225


<SHARES-COMMON-STOCK>

105,935


<SHARES-COMMON-PRIOR>

84,466


<ACCUMULATED-NII-CURRENT>

0


<OVERDISTRIBUTION-NII>

3,554


<ACCUMULATED-NET-GAINS>

150,222


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

643,646


<NET-ASSETS>

3,603,539


<DIVIDEND-INCOME>

5,419


<INTEREST-INCOME>

5,082


<OTHER-INCOME>

0


<EXPENSES-NET>

14,052


<NET-INVESTMENT-INCOME>

(3,551)


<REALIZED-GAINS-CURRENT>

318,631


<APPREC-INCREASE-CURRENT>

368,935


<NET-CHANGE-FROM-OPS>

684,015


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

6,872


<DISTRIBUTIONS-OF-GAINS>

391,420


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

48,796


<NUMBER-OF-SHARES-REDEEMED>

39,960


<SHARES-REINVESTED>

12,633


<NET-CHANGE-IN-ASSETS>

968,396


<ACCUMULATED-NII-PRIOR>

8,871


<ACCUMULATED-GAINS-PRIOR>

290,283


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

9,437


<INTEREST-EXPENSE>

2


<GROSS-EXPENSE>

14,248


<AVERAGE-NET-ASSETS>

3,178,398


<PER-SHARE-NAV-BEGIN>

31.200


<PER-SHARE-NII>

(.040)


<PER-SHARE-GAIN-APPREC>

7.260


<PER-SHARE-DIVIDEND>

 .080


<PER-SHARE-DISTRIBUTIONS>

4.320


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

34.020


<EXPENSE-RATIO>

89


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        21


        <NAME>      Fidelity Growth & Income Portfolio


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

Jul-31-1997


<PERIOD-END>

Jan-31-1997


<INVESTMENTS-AT-COST>

18,726,015


<INVESTMENTS-AT-VALUE>

25,462,234


<RECEIVABLES>

265,132


<ASSETS-OTHER>

1


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

25,727,367


<PAYABLE-FOR-SECURITIES>

176,031


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

92,599


<TOTAL-LIABILITIES>

268,630


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

18,592,362


<SHARES-COMMON-STOCK>

794,585


<SHARES-COMMON-PRIOR>

680,978


<ACCUMULATED-NII-CURRENT>

21,496


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

108,718


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

6,736,161


<NET-ASSETS>

25,458,737


<DIVIDEND-INCOME>

194,115


<INTEREST-INCOME>

52,953


<OTHER-INCOME>

0


<EXPENSES-NET>

80,792


<NET-INVESTMENT-INCOME>

166,276


<REALIZED-GAINS-CURRENT>

210,110


<APPREC-INCREASE-CURRENT>

3,522,166


<NET-CHANGE-FROM-OPS>

3,898,552


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

191,527


<DISTRIBUTIONS-OF-GAINS>

790,988


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

159,057


<NUMBER-OF-SHARES-REDEEMED>

79,493


<SHARES-REINVESTED>

34,043


<NET-CHANGE-IN-ASSETS>

6,253,091


<ACCUMULATED-NII-PRIOR>

46,747


<ACCUMULATED-GAINS-PRIOR>

749,332


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

56,237


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

82,609


<AVERAGE-NET-ASSETS>

22,348,759


<PER-SHARE-NAV-BEGIN>

28.200


<PER-SHARE-NII>

 .220


<PER-SHARE-GAIN-APPREC>

5.000


<PER-SHARE-DIVIDEND>

 .260


<PER-SHARE-DISTRIBUTIONS>

1.120


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

32.040


<EXPENSE-RATIO>

73


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        31


        <NAME>      Fidelity Blue Chip Growth Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

Jul-31-1997


<PERIOD-END>

Jan-31-1997


<INVESTMENTS-AT-COST>

8,357,013


<INVESTMENTS-AT-VALUE>

10,173,455


<RECEIVABLES>

43,350


<ASSETS-OTHER>

0


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

10,216,805


<PAYABLE-FOR-SECURITIES>

86,142


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

23,039


<TOTAL-LIABILITIES>

109,181


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

8,191,419


<SHARES-COMMON-STOCK>

292,254


<SHARES-COMMON-PRIOR>

265,888


<ACCUMULATED-NII-CURRENT>

12,449


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

87,323


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

1,816,433


<NET-ASSETS>

10,107,624


<DIVIDEND-INCOME>

61,948


<INTEREST-INCOME>

15,334


<OTHER-INCOME>

0


<EXPENSES-NET>

38,246


<NET-INVESTMENT-INCOME>

39,036


<REALIZED-GAINS-CURRENT>

114,367


<APPREC-INCREASE-CURRENT>

1,672,376


<NET-CHANGE-FROM-OPS>

1,825,779


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

77,273


<DISTRIBUTIONS-OF-GAINS>

604,623


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

47,520


<NUMBER-OF-SHARES-REDEEMED>

43,809


<SHARES-REINVESTED>

22,655


<NET-CHANGE-IN-ASSETS>

1,928,314


<ACCUMULATED-NII-PRIOR>

62,593


<ACCUMULATED-GAINS-PRIOR>

719,123


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

24,923


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

38,999


<AVERAGE-NET-ASSETS>

9,227,568


<PER-SHARE-NAV-BEGIN>

30.760


<PER-SHARE-NII>

 .140


<PER-SHARE-GAIN-APPREC>

6.220


<PER-SHARE-DIVIDEND>

 .280


<PER-SHARE-DISTRIBUTIONS>

2.250


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

34.590


<EXPENSE-RATIO>

84


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
 

<CIK>     0000754510


<NAME>      Fidelity Securities Fund


<SERIES>

        <NUMBER>        41


        <NAME>      Fidelity Dividend Growth Fund


<MULTIPLIER>    1,000


       

<S>

<C>

<PERIOD-TYPE>

6-mos


<FISCAL-YEAR-END>

Jul-31-1997


<PERIOD-END>

Jan-31-1997


<INVESTMENTS-AT-COST>

2,729,213


<INVESTMENTS-AT-VALUE>

3,048,684


<RECEIVABLES>

157,206


<ASSETS-OTHER>

906


<OTHER-ITEMS-ASSETS>

0


<TOTAL-ASSETS>

3,206,796


<PAYABLE-FOR-SECURITIES>

196,884


<SENIOR-LONG-TERM-DEBT>

0


<OTHER-ITEMS-LIABILITIES>

13,485


<TOTAL-LIABILITIES>

210,369


<SENIOR-EQUITY>

0


<PAID-IN-CAPITAL-COMMON>

2,592,068


<SHARES-COMMON-STOCK>

144,761


<SHARES-COMMON-PRIOR>

70,739


<ACCUMULATED-NII-CURRENT>

2,611


<OVERDISTRIBUTION-NII>

0


<ACCUMULATED-NET-GAINS>

82,277


<OVERDISTRIBUTION-GAINS>

0


<ACCUM-APPREC-OR-DEPREC>

319,471


<NET-ASSETS>

2,996,427


<DIVIDEND-INCOME>

13,519


<INTEREST-INCOME>

3,567


<OTHER-INCOME>

0


<EXPENSES-NET>

8,870


<NET-INVESTMENT-INCOME>

8,216


<REALIZED-GAINS-CURRENT>

86,851


<APPREC-INCREASE-CURRENT>

276,168


<NET-CHANGE-FROM-OPS>

371,235


<EQUALIZATION>

0


<DISTRIBUTIONS-OF-INCOME>

8,329


<DISTRIBUTIONS-OF-GAINS>

28,170


<DISTRIBUTIONS-OTHER>

0


<NUMBER-OF-SHARES-SOLD>

113,930


<NUMBER-OF-SHARES-REDEEMED>

41,942


<SHARES-REINVESTED>

2,034


<NET-CHANGE-IN-ASSETS>

1,776,558


<ACCUMULATED-NII-PRIOR>

4,406


<ACCUMULATED-GAINS-PRIOR>

41,293


<OVERDISTRIB-NII-PRIOR>

0


<OVERDIST-NET-GAINS-PRIOR>

0


<GROSS-ADVISORY-FEES>

6,067


<INTEREST-EXPENSE>

0


<GROSS-EXPENSE>

9,211


<AVERAGE-NET-ASSETS>

1,854,112


<PER-SHARE-NAV-BEGIN>

17.240


<PER-SHARE-NII>

 .080


<PER-SHARE-GAIN-APPREC>

3.840


<PER-SHARE-DIVIDEND>

 .090


<PER-SHARE-DISTRIBUTIONS>

 .370


<RETURNS-OF-CAPITAL>

0


<PER-SHARE-NAV-END>

20.700


<EXPENSE-RATIO>

98


<AVG-DEBT-OUTSTANDING>

0


<AVG-DEBT-PER-SHARE>

0



        



</TABLE>


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