Quarterly Holdings Report
for
Fidelity® International Enhanced Index Fund
May 31, 2023
IEI-NPRT3-0723
1.870940.115
Common Stocks - 98.1% | |||
Shares | Value ($) | ||
Australia - 6.7% | |||
ANZ Group Holdings Ltd. | 559,459 | 8,321,712 | |
APA Group unit | 428,602 | 2,798,993 | |
Aristocrat Leisure Ltd. | 231,911 | 5,603,948 | |
BHP Group Ltd. | 453,989 | 12,408,386 | |
BHP Group Ltd. sponsored ADR (a) | 16,606 | 911,669 | |
Brambles Ltd. | 472,091 | 4,219,164 | |
Commonwealth Bank of Australia | 56,629 | 3,564,827 | |
Computershare Ltd. | 117,457 | 1,708,302 | |
Fortescue Metals Group Ltd. | 782,979 | 9,788,529 | |
Macquarie Group Ltd. | 69,289 | 7,695,086 | |
Medibank Private Ltd. | 598,609 | 1,390,034 | |
Pilbara Minerals Ltd. | 1,794,541 | 5,147,613 | |
Qantas Airways Ltd. (b) | 1,337,500 | 5,785,346 | |
Rio Tinto Ltd. | 69,990 | 4,871,175 | |
Rio Tinto PLC | 110,645 | 6,538,186 | |
Scentre Group unit | 2,060,126 | 3,631,424 | |
Stockland Corp. Ltd. unit | 292,199 | 809,659 | |
Suncorp Group Ltd. | 382,439 | 3,308,474 | |
Telstra Group Ltd. | 3,203,530 | 9,085,089 | |
Transurban Group unit | 130,937 | 1,263,893 | |
Wesfarmers Ltd. | 302,141 | 9,368,471 | |
TOTAL AUSTRALIA | 108,219,980 | ||
Belgium - 0.9% | |||
Ageas | 158,865 | 6,339,037 | |
D'ieteren Group | 7,589 | 1,311,691 | |
Solvay SA Class A | 66,380 | 6,929,327 | |
TOTAL BELGIUM | 14,580,055 | ||
China - 0.6% | |||
BOC Hong Kong (Holdings) Ltd. | 2,667,500 | 7,920,282 | |
SITC International Holdings Co. Ltd. | 338,000 | 587,042 | |
Wilmar International Ltd. | 332,200 | 960,513 | |
TOTAL CHINA | 9,467,837 | ||
Denmark - 3.4% | |||
A.P. Moller - Maersk A/S: | |||
Series A | 1,384 | 2,322,344 | |
Series B | 1,186 | 1,996,024 | |
Carlsberg A/S Series B | 14,782 | 2,232,165 | |
Genmab A/S (b) | 27,070 | 10,588,411 | |
Novo Nordisk A/S: | |||
Series B | 202,124 | 32,528,026 | |
Series B sponsored ADR | 29,313 | 4,703,564 | |
TOTAL DENMARK | 54,370,534 | ||
Finland - 1.8% | |||
Elisa Corp. (A Shares) | 86,715 | 4,856,938 | |
Kesko Oyj | 249,569 | 4,717,727 | |
Kone OYJ (B Shares) | 157,777 | 8,005,713 | |
Nordea Bank ABP | 1,095,555 | 10,769,993 | |
TOTAL FINLAND | 28,350,371 | ||
France - 11.4% | |||
Aeroports de Paris SA | 22,790 | 3,461,589 | |
Air Liquide SA | 101,312 | 16,975,104 | |
Airbus Group NV | 937 | 123,052 | |
bioMerieux SA | 3,381 | 338,410 | |
BNP Paribas SA (a) | 35,991 | 2,092,455 | |
Compagnie de St.-Gobain | 130,485 | 7,224,827 | |
Danone SA | 15,178 | 898,369 | |
Edenred SA | 99,659 | 6,400,052 | |
Eiffage SA | 59,407 | 6,325,884 | |
Engie SA | 241,111 | 3,625,493 | |
Eurazeo SA | 5,181 | 353,876 | |
Gecina SA | 8,237 | 843,034 | |
Hermes International SCA | 7,371 | 14,984,020 | |
Kering SA | 7,647 | 4,088,559 | |
L'Oreal SA | 43,037 | 18,426,131 | |
La Francaise des Jeux SAEM (c) | 84,813 | 3,269,078 | |
Legrand SA | 38,051 | 3,597,908 | |
LVMH Moet Hennessy Louis Vuitton SE | 38,098 | 33,310,156 | |
Orange SA ADR | 55,037 | 662,095 | |
Pernod Ricard SA | 9,090 | 1,963,664 | |
Publicis Groupe SA | 37,008 | 2,748,504 | |
Safran SA | 78,845 | 11,414,534 | |
Societe Generale Series A (a) | 110,862 | 2,563,163 | |
TotalEnergies SE | 396,226 | 22,359,358 | |
Ubisoft Entertainment SA (b) | 110,148 | 3,132,925 | |
VINCI SA | 114,236 | 12,982,401 | |
Wendel SA | 6,516 | 684,655 | |
TOTAL FRANCE | 184,849,296 | ||
Germany - 8.0% | |||
Allianz SE | 6,361 | 1,362,199 | |
Beiersdorf AG | 20,036 | 2,551,774 | |
Commerzbank AG | 392,500 | 3,943,707 | |
Continental AG | 18,733 | 1,247,076 | |
Deutsche Bank AG | 430,045 | 4,355,881 | |
Deutsche Borse AG | 64,216 | 11,107,042 | |
Deutsche Lufthansa AG (b) | 857,474 | 8,395,634 | |
Deutsche Telekom AG | 327,920 | 7,275,086 | |
E.ON SE | 308,124 | 3,724,991 | |
Evonik Industries AG | 80,783 | 1,618,611 | |
Fresenius SE & Co. KGaA | 120,819 | 3,304,780 | |
GEA Group AG | 24,578 | 1,032,204 | |
Henkel AG & Co. KGaA | 11,050 | 792,777 | |
Infineon Technologies AG | 358,998 | 13,365,141 | |
Knorr-Bremse AG | 52,669 | 3,601,939 | |
Mercedes-Benz Group AG: | |||
ADR | 50,266 | 937,964 | |
(Germany) | 29,202 | 2,182,954 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 11,955 | 4,268,086 | |
Rational AG | 1,024 | 686,832 | |
RWE AG | 248,325 | 10,383,801 | |
SAP SE | 114,998 | 15,079,199 | |
Scout24 AG (c) | 16,030 | 1,028,068 | |
Siemens AG | 110,804 | 18,234,227 | |
Siemens AG sponsored ADR | 43,439 | 3,566,342 | |
Siemens Energy AG (b) | 126,765 | 3,216,749 | |
Telefonica Deutschland Holding AG | 972,303 | 2,738,541 | |
TOTAL GERMANY | 130,001,605 | ||
Hong Kong - 2.2% | |||
AIA Group Ltd. | 995,032 | 9,565,442 | |
ASMPT Ltd. | 334,400 | 2,848,429 | |
Hong Kong Exchanges and Clearing Ltd. | 285,900 | 10,464,142 | |
Jardine Matheson Holdings Ltd. | 119,400 | 5,732,394 | |
New World Development Co. Ltd. | 593,000 | 1,416,151 | |
WH Group Ltd. (c) | 7,164,455 | 3,742,138 | |
Xinyi Glass Holdings Ltd. | 1,057,000 | 1,563,136 | |
TOTAL HONG KONG | 35,331,832 | ||
Ireland - 0.5% | |||
CRH PLC | 58,300 | 2,758,910 | |
CRH PLC sponsored ADR | 111,105 | 5,281,932 | |
TOTAL IRELAND | 8,040,842 | ||
Israel - 0.5% | |||
Bank Hapoalim BM (Reg.) | 84,028 | 675,998 | |
Wix.com Ltd. (b) | 106,874 | 8,145,936 | |
TOTAL ISRAEL | 8,821,934 | ||
Italy - 1.6% | |||
Assicurazioni Generali SpA | 352,090 | 6,667,023 | |
Coca-Cola HBC AG | 42,400 | 1,259,514 | |
Eni SpA | 493,822 | 6,571,167 | |
Intesa Sanpaolo SpA | 848,176 | 1,969,850 | |
Poste Italiane SpA (c) | 473,811 | 4,910,603 | |
Prysmian SpA | 4,386 | 162,540 | |
Terna - Rete Elettrica Nazionale | 472,523 | 3,955,785 | |
TOTAL ITALY | 25,496,482 | ||
Japan - 23.4% | |||
Ajinomoto Co., Inc. | 287,500 | 11,186,345 | |
ASAHI INTECC Co. Ltd. | 49,800 | 948,997 | |
BayCurrent Consulting, Inc. | 37,800 | 1,386,384 | |
Bridgestone Corp. | 259,100 | 10,559,266 | |
Canon, Inc. | 215,000 | 5,329,187 | |
Chubu Electric Power Co., Inc. | 563,700 | 6,728,391 | |
Dai Nippon Printing Co. Ltd. | 104,600 | 2,984,281 | |
Daiichi Sankyo Kabushiki Kaisha | 345,300 | 11,228,879 | |
Dentsu Group, Inc. | 128,200 | 4,122,275 | |
Disco Corp. | 36,000 | 5,236,847 | |
FANUC Corp. | 139,100 | 4,757,756 | |
Fast Retailing Co. Ltd. | 51,500 | 12,079,813 | |
FUJIFILM Holdings Corp. | 62,000 | 3,797,208 | |
Hamamatsu Photonics K.K. | 140,200 | 7,154,653 | |
Hirose Electric Co. Ltd. | 27,400 | 3,720,854 | |
Hitachi Construction Machinery Co. Ltd. | 77,800 | 1,926,503 | |
Hitachi Ltd. | 207,900 | 12,006,197 | |
Honda Motor Co. Ltd. | 322,500 | 9,176,650 | |
Hoya Corp. | 109,984 | 13,865,918 | |
Itochu Corp. | 120,800 | 4,093,284 | |
Japan Post Bank Co. Ltd. | 803,400 | 6,002,795 | |
Kamigumi Co. Ltd. | 24,300 | 541,550 | |
Kansai Electric Power Co., Inc. | 275,500 | 3,155,916 | |
Keyence Corp. | 5,100 | 2,481,823 | |
Kikkoman Corp. | 7,000 | 413,494 | |
Kintetsu Group Holdings Co. Ltd. | 89,800 | 2,974,534 | |
Kyowa Hakko Kirin Co., Ltd. | 29,400 | 565,527 | |
Lawson, Inc. | 82,000 | 3,578,396 | |
Marubeni Corp. | 123,550 | 1,766,457 | |
Mazda Motor Corp. | 534,800 | 4,536,909 | |
Mitsubishi Chemical Holdings Corp. | 1,215,400 | 6,833,108 | |
Mitsubishi Corp. | 310,000 | 12,428,925 | |
Mitsubishi Electric Corp. | 254,658 | 3,324,765 | |
Mitsubishi Heavy Industries Ltd. | 39,200 | 1,661,692 | |
Mitsubishi UFJ Financial Group, Inc. | 361,100 | 2,401,239 | |
Mitsui & Co. Ltd. | 411,400 | 13,004,167 | |
Nintendo Co. Ltd. | 55,100 | 2,339,766 | |
Nippon Express Holdings, Inc. | 80,100 | 4,501,583 | |
Nippon Paint Holdings Co. Ltd. | 149,800 | 1,151,522 | |
Nippon Telegraph & Telephone Corp. | 27,300 | 775,613 | |
Nissan Chemical Corp. | 34,700 | 1,509,291 | |
Nissan Motor Co. Ltd. sponsored ADR | 87,636 | 652,012 | |
Nitto Denko Corp. | 105,300 | 7,504,963 | |
OBIC Co. Ltd. | 21,000 | 3,404,917 | |
Olympus Corp. | 553,100 | 8,406,167 | |
Ono Pharmaceutical Co. Ltd. | 134,500 | 2,515,027 | |
Open House Group Co. Ltd. | 31,800 | 1,223,384 | |
Oracle Corp. Japan | 57,800 | 4,430,676 | |
Otsuka Holdings Co. Ltd. | 110,000 | 4,081,193 | |
Panasonic Holdings Corp. | 990,300 | 10,343,374 | |
Recruit Holdings Co. Ltd. | 365,100 | 11,169,243 | |
Renesas Electronics Corp. (b) | 685,700 | 11,098,192 | |
Ricoh Co. Ltd. | 377,200 | 3,156,757 | |
Seiko Epson Corp. | 71,900 | 1,093,530 | |
Sekisui House Ltd. | 70,000 | 1,368,347 | |
Shin-Etsu Chemical Co. Ltd. | 469,300 | 14,448,030 | |
Shin-Etsu Chemical Co. Ltd. ADR (a) | 30,225 | 465,465 | |
Shionogi & Co. Ltd. | 82,500 | 3,706,405 | |
Shiseido Co. Ltd. | 53,100 | 2,418,227 | |
Shizuoka Financial Group | 70,500 | 519,167 | |
SoftBank Corp. | 991,700 | 10,567,817 | |
Sony Group Corp. | 123,300 | 11,563,121 | |
Subaru Corp. | 138,100 | 2,377,907 | |
Sumitomo Chemical Co. Ltd. | 529,900 | 1,582,188 | |
Sumitomo Corp. | 373,400 | 7,065,990 | |
Suntory Beverage & Food Ltd. | 16,200 | 596,490 | |
Sysmex Corp. | 12,100 | 792,829 | |
Takeda Pharmaceutical Co. Ltd. | 102,500 | 3,262,174 | |
TDK Corp. | 52,200 | 2,000,703 | |
Tokio Marine Holdings, Inc. | 546,700 | 12,238,874 | |
Tokyo Gas Co. Ltd. | 63,100 | 1,344,654 | |
Toppan, Inc. | 108,000 | 2,312,320 | |
Toyota Motor Corp. | 500,695 | 6,820,370 | |
Toyota Tsusho Corp. | 102,900 | 4,534,764 | |
USS Co. Ltd. | 82,100 | 1,337,053 | |
Yokogawa Electric Corp. | 89,200 | 1,685,085 | |
Z Holdings Corp. | 892,500 | 2,223,483 | |
ZOZO, Inc. | 328,900 | 6,713,738 | |
TOTAL JAPAN | 379,263,396 | ||
Luxembourg - 0.4% | |||
ArcelorMittal SA: | |||
(Netherlands) | 257,090 | 6,383,685 | |
rights (b)(d) | 257,090 | 55,212 | |
TOTAL LUXEMBOURG | 6,438,897 | ||
Macau - 0.0% | |||
Galaxy Entertainment Group Ltd. (b) | 82,000 | 508,413 | |
Netherlands - 5.6% | |||
ASML Holding NV: | |||
(depository receipt) | 6,450 | 4,662,899 | |
(Netherlands) | 48,783 | 35,286,048 | |
ING Groep NV (Certificaten Van Aandelen) | 103,660 | 1,277,204 | |
Koninklijke Ahold Delhaize NV | 219,312 | 6,952,974 | |
Koninklijke KPN NV | 501,558 | 1,725,483 | |
Koninklijke Philips Electronics NV | 513,327 | 9,698,082 | |
NN Group NV | 48,270 | 1,739,810 | |
OCI NV | 1,020 | 22,667 | |
Shell PLC: | |||
(London) | 1,024,920 | 28,178,115 | |
rights (b)(d) | 1,024,920 | 295,380 | |
Wolters Kluwer NV | 10,669 | 1,217,957 | |
Wolters Kluwer NV rights (b)(d) | 28,737 | 36,246 | |
TOTAL NETHERLANDS | 91,092,865 | ||
New Zealand - 0.2% | |||
Meridian Energy Ltd. | 630,970 | 2,017,976 | |
Xero Ltd. (b) | 10,758 | 769,380 | |
TOTAL NEW ZEALAND | 2,787,356 | ||
Norway - 0.4% | |||
DNB Bank ASA | 169,586 | 2,840,894 | |
Equinor ASA | 9,441 | 239,642 | |
Gjensidige Forsikring ASA | 192,374 | 3,232,172 | |
TOTAL NORWAY | 6,312,708 | ||
Singapore - 1.7% | |||
Oversea-Chinese Banking Corp. Ltd. | 607,800 | 5,514,831 | |
Singapore Exchange Ltd. | 34,200 | 234,693 | |
STMicroelectronics NV (France) | 268,520 | 11,687,756 | |
United Overseas Bank Ltd. | 468,255 | 9,674,560 | |
TOTAL SINGAPORE | 27,111,840 | ||
Spain - 3.2% | |||
ACS Actividades de Construccion y Servicios SA | 258,444 | 8,596,925 | |
Aena SME SA (c) | 18,440 | 2,881,677 | |
Banco Bilbao Vizcaya Argentaria SA | 1,013,028 | 6,660,343 | |
Banco Santander SA (Spain) (a) | 988,057 | 3,228,011 | |
Iberdrola SA | 1,282,436 | 15,660,885 | |
Industria de Diseno Textil SA | 362,254 | 12,119,487 | |
Naturgy Energy Group SA | 17,587 | 500,423 | |
Red Electrica Corporacion SA | 155,458 | 2,632,949 | |
TOTAL SPAIN | 52,280,700 | ||
Sweden - 3.3% | |||
Atlas Copco AB: | |||
(A Shares) | 250,555 | 3,665,252 | |
(B Shares) | 127,166 | 1,600,737 | |
Epiroc AB (A Shares) | 148,412 | 2,606,861 | |
Essity AB (B Shares) | 98,986 | 2,630,675 | |
Evolution AB (c) | 61,777 | 8,115,639 | |
Fastighets AB Balder (b) | 1,150,127 | 3,862,090 | |
Industrivarden AB (A Shares) | 81,720 | 2,198,920 | |
Kinnevik AB (B Shares) (b) | 127,278 | 1,826,752 | |
Securitas AB (B Shares) (a) | 61,458 | 452,618 | |
Skandinaviska Enskilda Banken AB (A Shares) | 175,619 | 1,836,007 | |
Svenska Handelsbanken AB (A Shares) | 1,040,840 | 8,240,515 | |
Swedbank AB (A Shares) | 123,650 | 1,892,044 | |
Swedish Orphan Biovitrum AB (b) | 160,644 | 3,227,151 | |
Telia Co. AB | 359,794 | 838,998 | |
Volvo AB (B Shares) | 552,252 | 10,190,794 | |
TOTAL SWEDEN | 53,185,053 | ||
Switzerland - 5.1% | |||
ABB Ltd.: | |||
(Reg.) | 305,797 | 11,169,890 | |
sponsored ADR | 67,514 | 2,460,885 | |
Alcon, Inc. (Switzerland) | 37,183 | 2,884,821 | |
Banque Cantonale Vaudoise | 197 | 19,824 | |
Compagnie Financiere Richemont SA | 8,645 | 1,372,213 | |
Compagnie Financiere Richemont SA Series A | 100,080 | 15,934,284 | |
Givaudan SA | 1,486 | 4,888,340 | |
Novartis AG | 313,281 | 30,026,958 | |
Partners Group Holding AG | 711 | 640,778 | |
Schindler Holding AG (participation certificate) | 10,599 | 2,194,863 | |
SGS SA (Reg.) | 2,000 | 177,524 | |
Sig Group AG | 24,607 | 671,137 | |
Swiss Life Holding AG | 12,390 | 7,155,795 | |
Zurich Insurance Group Ltd. | 6,508 | 3,044,093 | |
TOTAL SWITZERLAND | 82,641,405 | ||
United Kingdom - 11.7% | |||
3i Group PLC | 160,138 | 3,906,562 | |
Admiral Group PLC | 21,984 | 635,818 | |
Ashtead Group PLC | 18,884 | 1,151,047 | |
AstraZeneca PLC (United Kingdom) | 103,358 | 15,054,157 | |
Aviva PLC | 1,115,072 | 5,467,924 | |
BAE Systems PLC | 735,020 | 8,495,028 | |
Barclays PLC | 1,093,144 | 2,064,484 | |
Barclays PLC sponsored ADR | 185,548 | 1,395,321 | |
BP PLC | 2,011,159 | 11,298,742 | |
BP PLC sponsored ADR | 15,062 | 507,740 | |
British American Tobacco PLC (United Kingdom) | 114,262 | 3,616,917 | |
Bunzl PLC | 5,175 | 202,393 | |
Burberry Group PLC | 264,189 | 7,078,861 | |
CK Hutchison Holdings Ltd. | 1,012,000 | 6,101,030 | |
CNH Industrial NV | 37,820 | 483,088 | |
Coca-Cola European Partners PLC | 42,150 | 2,629,739 | |
Compass Group PLC | 176,828 | 4,845,832 | |
Diageo PLC | 51,846 | 2,155,370 | |
Direct Line Insurance Group PLC | 53,531 | 110,473 | |
Hargreaves Lansdown PLC | 80,364 | 801,950 | |
HSBC Holdings PLC: | |||
(United Kingdom) | 2,073,293 | 15,195,799 | |
sponsored ADR (a) | 230,499 | 8,486,973 | |
Imperial Brands PLC | 186,001 | 3,921,076 | |
InterContinental Hotel Group PLC | 91,913 | 6,047,943 | |
InterContinental Hotel Group PLC ADR | 53,632 | 3,558,483 | |
Legal & General Group PLC | 412,935 | 1,171,682 | |
Lloyds Banking Group PLC | 7,467,844 | 4,114,550 | |
NatWest Group PLC | 1,028,494 | 3,332,509 | |
Reckitt Benckiser Group PLC | 177,714 | 13,819,322 | |
Reckitt Benckiser Group PLC ADR | 13,198 | 207,077 | |
Rolls-Royce Holdings PLC (b) | 5,256,877 | 9,391,456 | |
Sage Group PLC | 518,510 | 5,617,954 | |
Schroders PLC | 793,672 | 4,498,085 | |
SSE PLC | 292,771 | 6,866,910 | |
Standard Chartered PLC (United Kingdom) | 42,679 | 336,382 | |
Tesco PLC | 2,200,742 | 7,151,116 | |
Unilever PLC | 300,600 | 15,040,534 | |
Vodafone Group PLC | 3,079,634 | 2,928,521 | |
TOTAL UNITED KINGDOM | 189,688,848 | ||
United States of America - 5.5% | |||
CSL Ltd. | 9,001 | 1,793,822 | |
GSK PLC | 495,455 | 8,315,826 | |
GSK PLC sponsored ADR | 193,980 | 6,517,728 | |
Holcim AG | 185,392 | 11,427,842 | |
Nestle SA (Reg. S) | 238,814 | 28,308,129 | |
QIAGEN NV (Germany) (b) | 59,703 | 2,693,696 | |
Roche Holding AG: | |||
(Bearer) | 6,672 | 2,249,030 | |
(participation certificate) | 49,866 | 15,882,764 | |
Sanofi SA | 118,501 | 12,018,043 | |
Schneider Electric SA | 3,904 | 675,388 | |
TOTAL UNITED STATES OF AMERICA | 89,882,268 | ||
TOTAL COMMON STOCKS (Cost $1,427,736,482) | 1,588,724,517 | ||
Nonconvertible Preferred Stocks - 0.7% | |||
Shares | Value ($) | ||
Germany - 0.7% | |||
Dr. Ing. h.c. F. Porsche AG Series F (c) | 16,753 | 2,079,931 | |
Volkswagen AG | 77,070 | 9,655,461 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS (Cost $12,544,203) | 11,735,392 | ||
Money Market Funds - 2.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.14% (e) | 19,330,171 | 19,334,037 | |
Fidelity Securities Lending Cash Central Fund 5.14% (e)(f) | 16,154,648 | 16,156,263 | |
TOTAL MONEY MARKET FUNDS (Cost $35,490,300) | 35,490,300 | ||
TOTAL INVESTMENT IN SECURITIES - 101.0% (Cost $1,475,770,985) | 1,635,950,209 |
NET OTHER ASSETS (LIABILITIES) - (1.0)% (g) | (15,531,675) |
NET ASSETS - 100.0% | 1,620,418,534 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI EAFE Index Contracts (United States) | 15 | Jun 2023 | 1,540,050 | 14,167 | 14,167 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
Legend
(a) | Security or a portion of the security is on loan at period end. |
(b) | Non-income producing |
(c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $26,027,134 or 1.6% of net assets. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | 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. |
(f) | Investment made with cash collateral received from securities on loan. |
(g) | Includes $648,716 of cash collateral to cover margin requirements for futures contracts. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.14% | 18,255,010 | 307,857,562 | 306,778,535 | 683,353 | - | - | 19,334,037 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.14% | 5,934,742 | 177,699,841 | 167,478,320 | 254,888 | - | - | 16,156,263 | 0.1% |
Total | 24,189,752 | 485,557,403 | 474,256,855 | 938,241 | - | - | 35,490,300 | |
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 payments received for lending certain types of securities.
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.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 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.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
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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