UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-02737
Fidelity Summer Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | May 31 |
Date of reporting period: | November 30, 2023 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 8.6 | |
Apple, Inc. | 5.9 | |
Amazon.com, Inc. | 4.0 | |
NVIDIA Corp. | 3.5 | |
Alphabet, Inc. Class A | 3.2 | |
iShares ESG Aware MSCI U.S.A. ETF | 2.4 | |
Meta Platforms, Inc. Class A | 2.3 | |
JPMorgan Chase & Co. | 1.7 | |
UnitedHealth Group, Inc. | 1.6 | |
Visa, Inc. Class A | 1.5 | |
34.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 27.3 | |
Financials | 12.9 | |
Health Care | 12.2 | |
Consumer Discretionary | 10.2 | |
Communication Services | 8.7 | |
Industrials | 8.4 | |
Consumer Staples | 6.2 | |
Energy | 3.4 | |
Materials | 2.5 | |
Real Estate | 2.5 | |
Investment Companies | 2.4 | |
Utilities | 2.1 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 96.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.7% | |||
Diversified Telecommunication Services - 0.6% | |||
AT&T, Inc. | 14,045 | 232,726 | |
Cellnex Telecom SA (a) | 1,019 | 38,904 | |
271,630 | |||
Entertainment - 1.9% | |||
Netflix, Inc. (b) | 687 | 325,617 | |
Roku, Inc. Class A (b) | 512 | 53,350 | |
Sea Ltd. ADR (b) | 2,199 | 79,648 | |
Spotify Technology SA (b) | 220 | 40,724 | |
Take-Two Interactive Software, Inc. (b) | 362 | 57,268 | |
The Walt Disney Co. | 2,598 | 240,809 | |
TKO Group Holdings, Inc. | 587 | 45,393 | |
842,809 | |||
Interactive Media & Services - 5.6% | |||
Alphabet, Inc. Class A (b) | 10,928 | 1,448,288 | |
Meta Platforms, Inc. Class A (b) | 3,294 | 1,077,632 | |
Snap, Inc. Class A (b) | 2,519 | 34,838 | |
2,560,758 | |||
Media - 0.4% | |||
Charter Communications, Inc. Class A (b) | 206 | 82,427 | |
Comcast Corp. Class A | 2,381 | 99,740 | |
182,167 | |||
Wireless Telecommunication Services - 0.2% | |||
T-Mobile U.S., Inc. | 682 | 102,607 | |
TOTAL COMMUNICATION SERVICES | 3,959,971 | ||
CONSUMER DISCRETIONARY - 10.2% | |||
Automobile Components - 0.2% | |||
Aptiv PLC (b) | 396 | 32,805 | |
Lear Corp. | 353 | 47,214 | |
80,019 | |||
Automobiles - 1.6% | |||
Ferrari NV | 200 | 71,792 | |
Tesla, Inc. (b) | 2,664 | 639,573 | |
711,365 | |||
Broadline Retail - 4.1% | |||
Amazon.com, Inc. (b) | 12,323 | 1,800,267 | |
eBay, Inc. | 1,709 | 70,086 | |
1,870,353 | |||
Hotels, Restaurants & Leisure - 1.7% | |||
Booking Holdings, Inc. (b) | 61 | 190,668 | |
Domino's Pizza, Inc. | 163 | 64,041 | |
Marriott International, Inc. Class A | 971 | 196,822 | |
McDonald's Corp. | 597 | 168,258 | |
Yum! Brands, Inc. | 1,204 | 151,162 | |
770,951 | |||
Household Durables - 0.1% | |||
D.R. Horton, Inc. | 79 | 10,086 | |
Mohawk Industries, Inc. (b) | 371 | 32,763 | |
42,849 | |||
Specialty Retail - 1.8% | |||
Burlington Stores, Inc. (b) | 176 | 29,848 | |
Foot Locker, Inc. | 395 | 10,637 | |
Lowe's Companies, Inc. | 1,190 | 236,608 | |
The Home Depot, Inc. | 542 | 169,912 | |
TJX Companies, Inc. | 3,719 | 327,681 | |
Valvoline, Inc. | 1,739 | 59,543 | |
834,229 | |||
Textiles, Apparel & Luxury Goods - 0.7% | |||
NIKE, Inc. Class B | 1,565 | 172,573 | |
PVH Corp. | 824 | 80,571 | |
Tapestry, Inc. | 1,895 | 60,015 | |
313,159 | |||
TOTAL CONSUMER DISCRETIONARY | 4,622,925 | ||
CONSUMER STAPLES - 6.2% | |||
Beverages - 1.4% | |||
Constellation Brands, Inc. Class A (sub. vtg.) | 1,080 | 259,729 | |
Diageo PLC | 1,311 | 45,887 | |
The Coca-Cola Co. | 5,603 | 327,439 | |
633,055 | |||
Consumer Staples Distribution & Retail - 1.6% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 1,056 | 60,234 | |
Costco Wholesale Corp. | 218 | 129,217 | |
Dollar General Corp. | 176 | 23,077 | |
Target Corp. | 164 | 21,945 | |
Walmart, Inc. | 2,992 | 465,824 | |
700,297 | |||
Food Products - 0.8% | |||
Bunge Global SA | 1,037 | 113,935 | |
Mondelez International, Inc. | 3,397 | 241,391 | |
355,326 | |||
Household Products - 2.0% | |||
Colgate-Palmolive Co. | 3,262 | 256,948 | |
Procter & Gamble Co. | 4,356 | 668,733 | |
925,681 | |||
Personal Care Products - 0.4% | |||
Estee Lauder Companies, Inc. Class A | 1,385 | 176,851 | |
TOTAL CONSUMER STAPLES | 2,791,210 | ||
ENERGY - 3.4% | |||
Energy Equipment & Services - 0.4% | |||
Expro Group Holdings NV (b) | 4,511 | 70,146 | |
Schlumberger Ltd. | 2,202 | 114,592 | |
184,738 | |||
Oil, Gas & Consumable Fuels - 3.0% | |||
Canadian Natural Resources Ltd. | 1,955 | 130,594 | |
Eco Atlantic Oil & Gas Ltd. (b) | 47,679 | 5,973 | |
Hess Corp. | 1,291 | 181,463 | |
Imperial Oil Ltd. | 2,726 | 153,582 | |
Kosmos Energy Ltd. (b) | 17,909 | 121,602 | |
MEG Energy Corp. (b) | 10,747 | 203,226 | |
Phillips 66 Co. | 1,574 | 202,873 | |
Shell PLC ADR | 2,929 | 192,728 | |
Valero Energy Corp. | 1,243 | 155,822 | |
1,347,863 | |||
TOTAL ENERGY | 1,532,601 | ||
FINANCIALS - 12.9% | |||
Banks - 4.7% | |||
Bank of America Corp. | 8,405 | 256,268 | |
Citigroup, Inc. | 1,238 | 57,072 | |
DNB Bank ASA | 4,975 | 94,765 | |
Eurobank Ergasias Services and Holdings SA ADR (b) | 52,176 | 44,871 | |
HDFC Bank Ltd. sponsored ADR | 854 | 51,274 | |
JPMorgan Chase & Co. | 4,821 | 752,462 | |
KBC Group NV | 591 | 33,838 | |
KeyCorp | 8,255 | 102,279 | |
M&T Bank Corp. | 306 | 39,220 | |
Pathward Financial, Inc. | 554 | 27,473 | |
Piraeus Financial Holdings SA (b) | 13,846 | 49,133 | |
PNC Financial Services Group, Inc. | 1,469 | 196,787 | |
Truist Financial Corp. | 2,618 | 84,143 | |
Wells Fargo & Co. | 7,653 | 341,247 | |
2,130,832 | |||
Capital Markets - 2.4% | |||
Bank of New York Mellon Corp. | 2,251 | 108,768 | |
BlackRock, Inc. Class A | 191 | 143,485 | |
Brookfield Corp. Class A | 1,820 | 64,191 | |
Cboe Global Markets, Inc. | 536 | 97,654 | |
CME Group, Inc. | 669 | 146,083 | |
MarketAxess Holdings, Inc. | 237 | 56,908 | |
Moody's Corp. | 404 | 147,444 | |
Morgan Stanley | 2,352 | 186,608 | |
Northern Trust Corp. | 1,142 | 90,504 | |
State Street Corp. | 481 | 35,026 | |
1,076,671 | |||
Consumer Finance - 0.1% | |||
OneMain Holdings, Inc. | 1,057 | 44,711 | |
Financial Services - 3.0% | |||
Apollo Global Management, Inc. | 2,322 | 213,624 | |
Block, Inc. Class A (b) | 3,089 | 195,935 | |
Dlocal Ltd. (b) | 2,222 | 38,330 | |
Global Payments, Inc. | 837 | 97,460 | |
Shift4 Payments, Inc. (b) | 690 | 45,416 | |
Visa, Inc. Class A | 2,719 | 697,913 | |
Voya Financial, Inc. | 576 | 41,190 | |
Worldline SA (a)(b) | 2,064 | 32,078 | |
1,361,946 | |||
Insurance - 2.7% | |||
Arthur J. Gallagher & Co. | 827 | 205,923 | |
Chubb Ltd. | 951 | 218,188 | |
Globe Life, Inc. | 680 | 83,728 | |
Hartford Financial Services Group, Inc. | 1,556 | 121,617 | |
Marsh & McLennan Companies, Inc. | 1,060 | 211,385 | |
Progressive Corp. | 1,109 | 181,909 | |
Prudential PLC | 2,273 | 24,861 | |
The Travelers Companies, Inc. | 660 | 119,209 | |
Unum Group | 1,830 | 78,690 | |
1,245,510 | |||
TOTAL FINANCIALS | 5,859,670 | ||
HEALTH CARE - 12.2% | |||
Biotechnology - 1.6% | |||
AbbVie, Inc. | 418 | 59,519 | |
Amgen, Inc. | 167 | 45,030 | |
Blueprint Medicines Corp. (b) | 684 | 47,634 | |
Cytokinetics, Inc. (b) | 1,548 | 51,827 | |
Karuna Therapeutics, Inc. (b) | 204 | 39,007 | |
Legend Biotech Corp. ADR (b) | 1,386 | 84,297 | |
Regeneron Pharmaceuticals, Inc. (b) | 344 | 283,391 | |
Vaxcyte, Inc. (b) | 1,386 | 71,753 | |
Vertex Pharmaceuticals, Inc. (b) | 176 | 62,447 | |
744,905 | |||
Health Care Equipment & Supplies - 2.5% | |||
Boston Scientific Corp. (b) | 9,743 | 544,536 | |
Edwards Lifesciences Corp. (b) | 883 | 59,788 | |
Inspire Medical Systems, Inc. (b) | 396 | 57,543 | |
Insulet Corp. (b) | 468 | 88,494 | |
Masimo Corp. (b) | 642 | 60,194 | |
Penumbra, Inc. (b) | 897 | 199,215 | |
Stryker Corp. | 367 | 108,753 | |
Tandem Diabetes Care, Inc. (b) | 1,447 | 29,287 | |
1,147,810 | |||
Health Care Providers & Services - 3.9% | |||
Acadia Healthcare Co., Inc. (b) | 787 | 57,443 | |
Centene Corp. (b) | 2,005 | 147,728 | |
Cigna Group | 1,115 | 293,111 | |
CVS Health Corp. | 3,405 | 231,370 | |
Elevance Health, Inc. | 101 | 48,428 | |
Humana, Inc. | 138 | 66,911 | |
LifeStance Health Group, Inc. (b) | 5,864 | 40,286 | |
Molina Healthcare, Inc. (b) | 182 | 66,532 | |
Privia Health Group, Inc. (b) | 3,614 | 74,665 | |
UnitedHealth Group, Inc. | 1,339 | 740,427 | |
1,766,901 | |||
Health Care Technology - 0.1% | |||
Evolent Health, Inc. (b) | 666 | 18,515 | |
Phreesia, Inc. (b) | 2,155 | 33,209 | |
51,724 | |||
Life Sciences Tools & Services - 2.2% | |||
10X Genomics, Inc. (b) | 539 | 23,457 | |
Danaher Corp. | 2,173 | 485,253 | |
IQVIA Holdings, Inc. (b) | 570 | 122,037 | |
Thermo Fisher Scientific, Inc. | 706 | 350,007 | |
980,754 | |||
Pharmaceuticals - 1.9% | |||
Eli Lilly & Co. | 882 | 521,297 | |
Merck & Co., Inc. | 2,255 | 231,092 | |
Royalty Pharma PLC | 2,979 | 80,642 | |
Structure Therapeutics, Inc. ADR | 264 | 14,702 | |
847,733 | |||
TOTAL HEALTH CARE | 5,539,827 | ||
INDUSTRIALS - 8.4% | |||
Aerospace & Defense - 1.5% | |||
Howmet Aerospace, Inc. | 2,388 | 125,609 | |
Lockheed Martin Corp. | 684 | 306,275 | |
Northrop Grumman Corp. | 272 | 129,244 | |
RTX Corp. | 1,324 | 107,880 | |
669,008 | |||
Air Freight & Logistics - 0.2% | |||
FedEx Corp. | 362 | 93,696 | |
Building Products - 0.7% | |||
Trane Technologies PLC | 1,358 | 306,107 | |
Construction & Engineering - 0.1% | |||
Quanta Services, Inc. | 333 | 62,707 | |
Electrical Equipment - 1.0% | |||
AMETEK, Inc. | 1,689 | 262,183 | |
Eaton Corp. PLC | 770 | 175,321 | |
437,504 | |||
Ground Transportation - 1.4% | |||
CSX Corp. | 4,005 | 129,362 | |
Old Dominion Freight Lines, Inc. | 520 | 202,311 | |
Uber Technologies, Inc. (b) | 2,688 | 151,549 | |
Union Pacific Corp. | 674 | 151,832 | |
635,054 | |||
Industrial Conglomerates - 0.7% | |||
General Electric Co. | 2,541 | 309,494 | |
Machinery - 2.6% | |||
Caterpillar, Inc. | 596 | 149,429 | |
Deere & Co. | 187 | 68,145 | |
Dover Corp. | 1,396 | 197,059 | |
Fortive Corp. | 2,781 | 191,833 | |
Ingersoll Rand, Inc. | 3,176 | 226,862 | |
Parker Hannifin Corp. | 782 | 338,747 | |
1,172,075 | |||
Passenger Airlines - 0.1% | |||
Delta Air Lines, Inc. | 1,378 | 50,890 | |
Professional Services - 0.1% | |||
Dun & Bradstreet Holdings, Inc. | 6,381 | 67,575 | |
TOTAL INDUSTRIALS | 3,804,110 | ||
INFORMATION TECHNOLOGY - 27.3% | |||
Electronic Equipment, Instruments & Components - 0.4% | |||
Amphenol Corp. Class A | 1,909 | 173,700 | |
IT Services - 1.4% | |||
Capgemini SA | 647 | 132,401 | |
Infosys Ltd. sponsored ADR | 2,721 | 47,754 | |
MongoDB, Inc. Class A (b) | 429 | 178,352 | |
Shopify, Inc. Class A (b) | 591 | 43,037 | |
Snowflake, Inc. (b) | 467 | 87,647 | |
Twilio, Inc. Class A (b) | 1,094 | 70,760 | |
Wix.com Ltd. (b) | 662 | 67,193 | |
627,144 | |||
Semiconductors & Semiconductor Equipment - 6.1% | |||
Advanced Micro Devices, Inc. (b) | 1,770 | 214,453 | |
ASML Holding NV (Netherlands) | 210 | 143,121 | |
Marvell Technology, Inc. | 166 | 9,251 | |
Micron Technology, Inc. | 3,993 | 303,947 | |
NVIDIA Corp. | 3,412 | 1,595,792 | |
NXP Semiconductors NV | 654 | 133,468 | |
ON Semiconductor Corp. (b) | 474 | 33,810 | |
Renesas Electronics Corp. (b) | 5,958 | 103,842 | |
SolarEdge Technologies, Inc. (b) | 823 | 65,330 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 1,518 | 147,717 | |
2,750,731 | |||
Software - 13.3% | |||
Adobe, Inc. (b) | 913 | 557,852 | |
Autodesk, Inc. (b) | 772 | 168,628 | |
Elastic NV (b) | 805 | 64,690 | |
HubSpot, Inc. (b) | 307 | 151,637 | |
Intuit, Inc. | 592 | 338,304 | |
Microsoft Corp. | 10,250 | 3,883,820 | |
Salesforce, Inc. (b) | 1,795 | 452,161 | |
Synopsys, Inc. (b) | 429 | 233,046 | |
Tenable Holdings, Inc. (b) | 1,268 | 52,483 | |
Workday, Inc. Class A (b) | 554 | 149,979 | |
6,052,600 | |||
Technology Hardware, Storage & Peripherals - 6.1% | |||
Apple, Inc. | 14,035 | 2,665,948 | |
Samsung Electronics Co. Ltd. GDR (Reg. S) | 64 | 89,024 | |
2,754,972 | |||
TOTAL INFORMATION TECHNOLOGY | 12,359,147 | ||
MATERIALS - 2.5% | |||
Chemicals - 1.8% | |||
Air Products & Chemicals, Inc. | 230 | 62,227 | |
Celanese Corp. Class A | 500 | 69,330 | |
Chemtrade Logistics Income Fund | 4,057 | 26,011 | |
Corteva, Inc. | 1,548 | 69,970 | |
Dow, Inc. | 1,206 | 62,411 | |
DuPont de Nemours, Inc. | 690 | 49,363 | |
Linde PLC | 801 | 331,430 | |
LyondellBasell Industries NV Class A | 973 | 92,532 | |
Nutrien Ltd. | 120 | 6,419 | |
Olin Corp. | 256 | 12,068 | |
The Chemours Co. LLC | 1,116 | 30,612 | |
The Mosaic Co. | 758 | 27,205 | |
839,578 | |||
Construction Materials - 0.1% | |||
Vulcan Materials Co. | 272 | 58,088 | |
Containers & Packaging - 0.2% | |||
Aptargroup, Inc. | 314 | 39,843 | |
Crown Holdings, Inc. | 141 | 12,127 | |
Greif, Inc. Class A | 516 | 36,068 | |
88,038 | |||
Metals & Mining - 0.4% | |||
E3 Lithium Ltd. (b) | 400 | 628 | |
First Quantum Minerals Ltd. | 1,549 | 12,682 | |
Franco-Nevada Corp. | 361 | 40,432 | |
Freeport-McMoRan, Inc. | 2,123 | 79,230 | |
Nucor Corp. | 107 | 18,187 | |
Reliance Steel & Aluminum Co. | 65 | 17,892 | |
169,051 | |||
TOTAL MATERIALS | 1,154,755 | ||
REAL ESTATE - 2.5% | |||
Equity Real Estate Investment Trusts (REITs) - 2.5% | |||
Alexandria Real Estate Equities, Inc. | 125 | 13,675 | |
American Tower Corp. | 646 | 134,872 | |
COPT Defense Properties (SBI) | 1,438 | 34,800 | |
Crown Castle International Corp. | 729 | 85,497 | |
CubeSmart | 822 | 32,683 | |
Digital Realty Trust, Inc. | 700 | 97,146 | |
Equinix, Inc. | 206 | 167,892 | |
Essex Property Trust, Inc. | 287 | 61,263 | |
Extra Space Storage, Inc. | 72 | 9,372 | |
Mid-America Apartment Communities, Inc. | 642 | 79,916 | |
Omega Healthcare Investors, Inc. | 1,025 | 32,544 | |
Prologis (REIT), Inc. | 1,251 | 143,777 | |
Simon Property Group, Inc. | 550 | 68,690 | |
Ventas, Inc. | 1,031 | 47,261 | |
Welltower, Inc. | 1,306 | 116,365 | |
1,125,753 | |||
UTILITIES - 2.1% | |||
Electric Utilities - 1.4% | |||
Duke Energy Corp. | 804 | 74,193 | |
Edison International | 1,457 | 97,604 | |
FirstEnergy Corp. | 2,112 | 78,017 | |
NextEra Energy, Inc. | 2,937 | 171,844 | |
NRG Energy, Inc. | 1,069 | 51,141 | |
PG&E Corp. | 8,598 | 147,628 | |
620,427 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
The AES Corp. | 3,665 | 63,075 | |
Multi-Utilities - 0.6% | |||
Dominion Energy, Inc. | 775 | 35,139 | |
NiSource, Inc. | 3,055 | 78,330 | |
Sempra | 2,211 | 161,116 | |
274,585 | |||
TOTAL UTILITIES | 958,087 | ||
TOTAL COMMON STOCKS (Cost $40,132,584) | 43,708,056 | ||
Money Market Funds - 2.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (c) (Cost $978,075) | 977,879 | 978,075 | |
Equity Funds - 2.4% | |||
Shares | Value ($) | ||
Domestic Equity Funds - 2.4% | |||
iShares ESG Aware MSCI U.S.A. ETF (Cost $1,084,413) | 10,820 | 1,087,302 | |
TOTAL INVESTMENT IN SECURITIES - 100.9% (Cost $42,195,072) | 45,773,433 |
NET OTHER ASSETS (LIABILITIES) - (0.9)% | (427,104) |
NET ASSETS - 100.0% | 45,346,329 |
ETF | - | EXCHANGE-TRADED FUND |
(a) | 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 $70,982 or 0.2% of net assets. |
(b) | Non-income producing |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 128,396 | 10,403,096 | 9,553,417 | 12,763 | - | - | 978,075 | 0.0% |
Total | 128,396 | 10,403,096 | 9,553,417 | 12,763 | - | - | 978,075 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 3,959,971 | 3,921,067 | 38,904 | - |
Consumer Discretionary | 4,622,925 | 4,622,925 | - | - |
Consumer Staples | 2,791,210 | 2,745,323 | 45,887 | - |
Energy | 1,532,601 | 1,532,601 | - | - |
Financials | 5,859,670 | 5,802,731 | 56,939 | - |
Health Care | 5,539,827 | 5,539,827 | - | - |
Industrials | 3,804,110 | 3,804,110 | - | - |
Information Technology | 12,359,147 | 12,112,184 | 246,963 | - |
Materials | 1,154,755 | 1,154,755 | - | - |
Real Estate | 1,125,753 | 1,125,753 | - | - |
Utilities | 958,087 | 958,087 | - | - |
Money Market Funds | 978,075 | 978,075 | - | - |
Equity Funds | 1,087,302 | 1,087,302 | - | - |
Total Investments in Securities: | 45,773,433 | 45,384,740 | 388,693 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $41,216,997) | $ | 44,795,358 | ||
Fidelity Central Funds (cost $978,075) | 978,075 | |||
Total Investment in Securities (cost $42,195,072) | $ | 45,773,433 | ||
Receivable for investments sold | 109,650 | |||
Receivable for fund shares sold | 390,918 | |||
Dividends receivable | 44,812 | |||
Distributions receivable from Fidelity Central Funds | 5,035 | |||
Prepaid expenses | 16 | |||
Receivable from investment adviser for expense reductions | 4,335 | |||
Total assets | 46,328,199 | |||
Liabilities | ||||
Payable for investments purchased | $ | 920,435 | ||
Payable for fund shares redeemed | 28,614 | |||
Accrued management fee | 13,066 | |||
Other payables and accrued expenses | 19,755 | |||
Total Liabilities | 981,870 | |||
Net Assets | $ | 45,346,329 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 41,803,053 | ||
Total accumulated earnings (loss) | 3,543,276 | |||
Net Assets | $ | 45,346,329 | ||
Net Asset Value, offering price and redemption price per share ($45,346,329 ÷ 4,185,885 shares) | $ | 10.83 |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 134,254 | ||
Income from Fidelity Central Funds | 12,763 | |||
Total Income | 147,017 | |||
Expenses | ||||
Management fee | $ | 43,923 | ||
Custodian fees and expenses | 3,724 | |||
Independent trustees' fees and expenses | 41 | |||
Registration fees | 7,352 | |||
Audit | 21,551 | |||
Legal | 5 | |||
Miscellaneous | 24 | |||
Total expenses before reductions | 76,620 | |||
Expense reductions | (25,448) | |||
Total expenses after reductions | 51,172 | |||
Net Investment income (loss) | 95,845 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 3,252 | |||
Foreign currency transactions | (21) | |||
Total net realized gain (loss) | 3,231 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,673,468 | |||
Assets and liabilities in foreign currencies | 5 | |||
Total change in net unrealized appreciation (depreciation) | 2,673,473 | |||
Net gain (loss) | 2,676,704 | |||
Net increase (decrease) in net assets resulting from operations | $ | 2,772,549 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 95,845 | $ | 57,936 |
Net realized gain (loss) | 3,231 | (125,325) | ||
Change in net unrealized appreciation (depreciation) | 2,673,473 | 1,030,311 | ||
Net increase (decrease) in net assets resulting from operations | 2,772,549 | 962,922 | ||
Distributions to shareholders | (42,890) | (19,946) | ||
Share transactions | ||||
Proceeds from sales of shares | 32,341,528 | 11,019,872 | ||
Reinvestment of distributions | 39,480 | 19,506 | ||
Cost of shares redeemed | (2,419,762) | (1,202,039) | ||
Net increase (decrease) in net assets resulting from share transactions | 29,961,246 | 9,837,339 | ||
Total increase (decrease) in net assets | 32,690,905 | 10,780,315 | ||
Net Assets | ||||
Beginning of period | 12,655,424 | 1,875,109 | ||
End of period | $ | 45,346,329 | $ | 12,655,424 |
Other Information | ||||
Shares | ||||
Sold | 3,121,116 | 1,219,472 | ||
Issued in reinvestment of distributions | 3,739 | 2,203 | ||
Redeemed | (231,769) | (129,354) | ||
Net increase (decrease) | 2,893,086 | 1,092,321 | ||
Fidelity® SAI Sustainable Sector Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.79 | $ | 9.35 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .05 | .09 | .01 | |||
Net realized and unrealized gain (loss) | 1.02 | .39 | (.66) | |||
Total from investment operations | 1.07 | .48 | (.65) | |||
Distributions from net investment income | (.03) | (.04) | - | |||
Total distributions | (.03) | (.04) | - | |||
Net asset value, end of period | $ | 10.83 | $ | 9.79 | $ | 9.35 |
Total Return D,E | 10.94% | 5.16% | (6.50)% | |||
Ratios to Average Net Assets C,F,G | ||||||
Expenses before reductions | .74% H | 1.93% | 3.86% H,I | |||
Expenses net of fee waivers, if any | .49% H | .49% | .50% H,I | |||
Expenses net of all reductions | .49% H | .49% | .50% H,I | |||
Net investment income (loss) | .92% H | .98% | .81% H,I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 45,346 | $ | 12,655 | $ | 1,875 |
Portfolio turnover rate J | 192% H | 112% | 3% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $4,258,198 |
Gross unrealized depreciation | (779,951) |
Net unrealized appreciation (depreciation) | $3,478,247 |
Tax cost | $42,295,186 |
Short-term | $(55,605) |
Long-term | (14,092) |
Total capital loss carryforward | $(69,697) |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Sector Fund | 50,420,691 | 20,841,319 |
Amount | |
Fidelity SAI Sustainable Sector Fund | $320 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity SAI Sustainable Sector Fund | 104,825 | 61,842 | 4,554 |
Amount | |
Fidelity SAI Sustainable Sector Fund | $12 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® SAI Sustainable Sector Fund | .49% | |||||||||
Actual | $ 1,000 | $ 1,109.40 | $ 2.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.55 | $ 2.48 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.1 | |
NVIDIA Corp. | 3.8 | |
Alphabet, Inc. Class A | 3.2 | |
Salesforce, Inc. | 3.2 | |
Apple, Inc. | 3.1 | |
Amazon.com, Inc. | 3.0 | |
Intuit, Inc. | 2.8 | |
The Travelers Companies, Inc. | 2.3 | |
Procter & Gamble Co. | 2.2 | |
Accenture PLC Class A | 2.1 | |
34.8 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.1 | |
Health Care | 12.7 | |
Financials | 11.7 | |
Consumer Discretionary | 10.7 | |
Communication Services | 9.3 | |
Industrials | 9.2 | |
Materials | 4.7 | |
Consumer Staples | 4.4 | |
Energy | 3.8 | |
Utilities | 2.1 | |
Real Estate | 1.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.3% | |||
Entertainment - 4.1% | |||
Netflix, Inc. (a) | 939 | 445,058 | |
The Walt Disney Co. | 4,812 | 446,024 | |
891,082 | |||
Interactive Media & Services - 3.2% | |||
Alphabet, Inc. Class A (a) | 5,200 | 689,156 | |
Media - 2.0% | |||
Comcast Corp. Class A | 5,824 | 243,967 | |
Interpublic Group of Companies, Inc. | 6,192 | 190,342 | |
434,309 | |||
TOTAL COMMUNICATION SERVICES | 2,014,547 | ||
CONSUMER DISCRETIONARY - 10.7% | |||
Automobile Components - 0.6% | |||
Aptiv PLC (a) | 1,604 | 132,875 | |
Automobiles - 1.0% | |||
General Motors Co. | 3,992 | 126,147 | |
Tesla, Inc. (a) | 355 | 85,228 | |
211,375 | |||
Broadline Retail - 3.0% | |||
Amazon.com, Inc. (a) | 4,482 | 654,775 | |
Diversified Consumer Services - 0.7% | |||
Adtalem Global Education, Inc. (a) | 2,478 | 141,172 | |
Hotels, Restaurants & Leisure - 1.4% | |||
Marriott International, Inc. Class A | 1,529 | 309,928 | |
Household Durables - 0.7% | |||
Taylor Morrison Home Corp. (a) | 3,354 | 151,265 | |
Specialty Retail - 1.4% | |||
Lowe's Companies, Inc. | 1,483 | 294,865 | |
Textiles, Apparel & Luxury Goods - 1.9% | |||
LVMH Moet Hennessy Louis Vuitton SE | 365 | 279,184 | |
Tapestry, Inc. | 4,308 | 136,434 | |
415,618 | |||
TOTAL CONSUMER DISCRETIONARY | 2,311,873 | ||
CONSUMER STAPLES - 4.4% | |||
Consumer Staples Distribution & Retail - 0.6% | |||
Sprouts Farmers Market LLC (a) | 2,928 | 126,138 | |
Food Products - 0.9% | |||
Darling Ingredients, Inc. (a) | 2,237 | 98,137 | |
Nomad Foods Ltd. (a) | 5,558 | 89,762 | |
187,899 | |||
Household Products - 2.2% | |||
Procter & Gamble Co. | 3,154 | 484,202 | |
Personal Care Products - 0.7% | |||
Estee Lauder Companies, Inc. Class A | 1,171 | 149,525 | |
TOTAL CONSUMER STAPLES | 947,764 | ||
ENERGY - 3.8% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 8,838 | 298,283 | |
Oil, Gas & Consumable Fuels - 2.4% | |||
Cheniere Energy, Inc. | 1,280 | 233,152 | |
Equinor ASA | 5,550 | 177,319 | |
Occidental Petroleum Corp. | 1,970 | 116,526 | |
526,997 | |||
TOTAL ENERGY | 825,280 | ||
FINANCIALS - 11.7% | |||
Banks - 1.8% | |||
Bank of America Corp. | 12,704 | 387,345 | |
Capital Markets - 4.8% | |||
BlackRock, Inc. Class A | 466 | 350,073 | |
Moody's Corp. | 1,138 | 415,324 | |
Northern Trust Corp. | 3,539 | 280,466 | |
1,045,863 | |||
Consumer Finance - 1.5% | |||
American Express Co. | 1,911 | 326,341 | |
Financial Services - 1.3% | |||
MasterCard, Inc. Class A | 684 | 283,060 | |
Insurance - 2.3% | |||
The Travelers Companies, Inc. | 2,705 | 488,577 | |
TOTAL FINANCIALS | 2,531,186 | ||
HEALTH CARE - 12.5% | |||
Biotechnology - 1.1% | |||
Moderna, Inc. (a) | 626 | 48,640 | |
Vertex Pharmaceuticals, Inc. (a) | 559 | 198,339 | |
246,979 | |||
Health Care Providers & Services - 4.0% | |||
Centene Corp. (a) | 3,146 | 231,797 | |
Cigna Group | 1,601 | 420,871 | |
CVS Health Corp. | 3,127 | 212,480 | |
865,148 | |||
Life Sciences Tools & Services - 3.4% | |||
Danaher Corp. | 1,938 | 432,775 | |
ICON PLC (a) | 1,111 | 296,570 | |
729,345 | |||
Pharmaceuticals - 4.0% | |||
Merck & Co., Inc. | 4,119 | 422,115 | |
UCB SA | 2,398 | 177,078 | |
Zoetis, Inc. Class A | 1,575 | 278,255 | |
877,448 | |||
TOTAL HEALTH CARE | 2,718,920 | ||
INDUSTRIALS - 9.2% | |||
Air Freight & Logistics - 1.0% | |||
United Parcel Service, Inc. Class B | 1,451 | 219,986 | |
Building Products - 0.8% | |||
Johnson Controls International PLC | 3,485 | 184,008 | |
Commercial Services & Supplies - 0.2% | |||
Veralto Corp. | 637 | 49,208 | |
Electrical Equipment - 2.7% | |||
Acuity Brands, Inc. | 1,246 | 223,358 | |
Generac Holdings, Inc. (a) | 842 | 98,573 | |
Prysmian SpA | 2,873 | 110,486 | |
Regal Rexnord Corp. | 1,191 | 142,682 | |
575,099 | |||
Machinery - 2.2% | |||
Deere & Co. | 515 | 187,671 | |
Energy Recovery, Inc. (a) | 3,015 | 57,466 | |
Ingersoll Rand, Inc. | 3,386 | 241,862 | |
486,999 | |||
Professional Services - 2.3% | |||
KBR, Inc. | 6,761 | 349,341 | |
Manpower, Inc. | 1,879 | 139,441 | |
488,782 | |||
TOTAL INDUSTRIALS | 2,004,082 | ||
INFORMATION TECHNOLOGY - 28.1% | |||
IT Services - 2.1% | |||
Accenture PLC Class A | 1,397 | 465,397 | |
Semiconductors & Semiconductor Equipment - 6.1% | |||
Advanced Micro Devices, Inc. (a) | 2,233 | 270,550 | |
NVIDIA Corp. | 1,746 | 816,604 | |
ON Semiconductor Corp. (a) | 3,438 | 245,233 | |
1,332,387 | |||
Software - 16.8% | |||
Adobe, Inc. (a) | 625 | 381,881 | |
Intuit, Inc. | 1,050 | 600,033 | |
Microsoft Corp. | 5,205 | 1,972,228 | |
Salesforce, Inc. (a) | 2,735 | 688,947 | |
3,643,089 | |||
Technology Hardware, Storage & Peripherals - 3.1% | |||
Apple, Inc. | 3,502 | 665,205 | |
TOTAL INFORMATION TECHNOLOGY | 6,106,078 | ||
MATERIALS - 4.7% | |||
Chemicals - 1.9% | |||
Linde PLC | 1,022 | 422,873 | |
Containers & Packaging - 2.8% | |||
Avery Dennison Corp. | 1,966 | 382,387 | |
Crown Holdings, Inc. | 2,573 | 221,304 | |
603,691 | |||
TOTAL MATERIALS | 1,026,564 | ||
REAL ESTATE - 1.9% | |||
Equity Real Estate Investment Trusts (REITs) - 1.9% | |||
Prologis (REIT), Inc. | 3,565 | 409,725 | |
UTILITIES - 2.1% | |||
Electric Utilities - 1.0% | |||
NextEra Energy, Inc. | 3,816 | 223,274 | |
Independent Power and Renewable Electricity Producers - 0.6% | |||
Clearway Energy, Inc. Class C | 4,762 | 118,907 | |
Water Utilities - 0.5% | |||
American Water Works Co., Inc. | 895 | 117,997 | |
TOTAL UTILITIES | 460,178 | ||
TOTAL COMMON STOCKS (Cost $19,702,023) | 21,356,197 | ||
Convertible Preferred Stocks - 0.2% | |||
Shares | Value ($) | ||
HEALTH CARE - 0.2% | |||
Health Care Providers & Services - 0.2% | |||
Somatus, Inc. Series E (a)(b)(c) (Cost $32,287) | 37 | 40,932 | |
Money Market Funds - 1.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (d) (Cost $281,671) | 281,615 | 281,671 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $20,015,981) | 21,678,800 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 16,192 |
NET ASSETS - 100.0% | 21,694,992 |
(a) | Non-income producing |
(b) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $40,932 or 0.2% of net assets. |
(c) | Level 3 security |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Somatus, Inc. Series E | 1/31/22 | 32,287 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 431,383 | 4,085,888 | 4,235,600 | 13,907 | - | - | 281,671 | 0.0% |
Total | 431,383 | 4,085,888 | 4,235,600 | 13,907 | - | - | 281,671 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,014,547 | 2,014,547 | - | - |
Consumer Discretionary | 2,311,873 | 2,311,873 | - | - |
Consumer Staples | 947,764 | 947,764 | - | - |
Energy | 825,280 | 647,961 | 177,319 | - |
Financials | 2,531,186 | 2,531,186 | - | - |
Health Care | 2,759,852 | 2,718,920 | - | 40,932 |
Industrials | 2,004,082 | 2,004,082 | - | - |
Information Technology | 6,106,078 | 6,106,078 | - | - |
Materials | 1,026,564 | 1,026,564 | - | - |
Real Estate | 409,725 | 409,725 | - | - |
Utilities | 460,178 | 460,178 | - | - |
Money Market Funds | 281,671 | 281,671 | - | - |
Total Investments in Securities: | 21,678,800 | 21,460,549 | 177,319 | 40,932 |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $19,734,310) | $ | 21,397,129 | ||
Fidelity Central Funds (cost $281,671) | 281,671 | |||
Total Investment in Securities (cost $20,015,981) | $ | 21,678,800 | ||
Foreign currency held at value (cost $8) | 8 | |||
Receivable for fund shares sold | 42,736 | |||
Dividends receivable | 23,581 | |||
Distributions receivable from Fidelity Central Funds | 1,376 | |||
Prepaid expenses | 23 | |||
Receivable from investment adviser for expense reductions | 2,612 | |||
Total assets | 21,749,136 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 10,677 | ||
Accrued management fee | 9,061 | |||
Transfer agent fee payable | 4,153 | |||
Distribution and service plan fees payable | 662 | |||
Other affiliated payables | 624 | |||
Audit fee payable | 27,187 | |||
Other payables and accrued expenses | 1,780 | |||
Total Liabilities | 54,144 | |||
Net Assets | $ | 21,694,992 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 21,712,357 | ||
Total accumulated earnings (loss) | (17,365) | |||
Net Assets | $ | 21,694,992 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($854,444 ÷ 82,240 shares)(a) | $ | 10.39 | ||
Maximum offering price per share (100/94.25 of $10.39) | $ | 11.02 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($358,251 ÷ 34,582 shares)(a) | $ | 10.36 | ||
Maximum offering price per share (100/96.50 of $10.36) | $ | 10.74 | ||
Class C : | ||||
Net Asset Value and offering price per share ($423,844 ÷ 41,250 shares)(a) | $ | 10.28 | ||
Fidelity Sustainable U.S. Equity Fund : | ||||
Net Asset Value, offering price and redemption price per share ($19,621,420 ÷ 1,884,604 shares) | $ | 10.41 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($190,134 ÷ 18,264 shares) | $ | 10.41 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($246,899 ÷ 23,631 shares) | $ | 10.45 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 129,599 | ||
Income from Fidelity Central Funds | 13,907 | |||
Total Income | 143,506 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 52,850 | ||
Performance adjustment | (192) | |||
Transfer agent fees | 24,892 | |||
Distribution and service plan fees | 3,602 | |||
Accounting fees and expenses | 3,575 | |||
Custodian fees and expenses | 1,659 | |||
Independent trustees' fees and expenses | 52 | |||
Registration fees | 26,655 | |||
Audit | 24,472 | |||
Legal | 7 | |||
Miscellaneous | 35 | |||
Total expenses before reductions | 137,607 | |||
Expense reductions | (44,153) | |||
Total expenses after reductions | 93,454 | |||
Net Investment income (loss) | 50,052 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (182,446) | |||
Foreign currency transactions | 626 | |||
Total net realized gain (loss) | (181,820) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,497,660 | |||
Assets and liabilities in foreign currencies | 116 | |||
Total change in net unrealized appreciation (depreciation) | 1,497,776 | |||
Net gain (loss) | 1,315,956 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,366,008 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 50,052 | $ | 126,401 |
Net realized gain (loss) | (181,820) | (1,069,431) | ||
Change in net unrealized appreciation (depreciation) | 1,497,776 | 1,611,360 | ||
Net increase (decrease) in net assets resulting from operations | 1,366,008 | 668,330 | ||
Distributions to shareholders | (25,215) | (108,305) | ||
Share transactions - net increase (decrease) | 2,537,317 | 1,194,089 | ||
Total increase (decrease) in net assets | 3,878,110 | 1,754,114 | ||
Net Assets | ||||
Beginning of period | 17,816,882 | 16,062,768 | ||
End of period | $ | 21,694,992 | $ | 17,816,882 |
Fidelity Advisor® Sustainable U.S. Equity Fund Class A |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.70 | $ | 9.38 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .05 D | - E | |||
Net realized and unrealized gain (loss) | .69 | .31 | (.58) | |||
Total from investment operations | .70 | .36 | (.58) | |||
Distributions from net investment income | (.01) | (.04) | - | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.01) | (.04) | (.04) | |||
Net asset value, end of period | $ | 10.39 | $ | 9.70 | $ | 9.38 |
Total Return F,G,H | 7.16% | 3.90% | (5.87)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.57% K | 1.97% | 3.52% K | |||
Expenses net of fee waivers, if any | 1.14% K | 1.15% | 1.14% K | |||
Expenses net of all reductions | 1.14% K | 1.15% | 1.14% K | |||
Net investment income (loss) | .28% K | .56% D | -% K,L | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 854 | $ | 642 | $ | 633 |
Portfolio turnover rate M | 32% K | 37% | 55% K |
Fidelity Advisor® Sustainable U.S. Equity Fund Class M |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.68 | $ | 9.37 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | - D | .03 E | (.02) | |||
Net realized and unrealized gain (loss) | .68 | .31 | (.59) | |||
Total from investment operations | .68 | .34 | (.61) | |||
Distributions from net investment income | - | (.03) | - | |||
Distributions from net realized gain | - | - | (.02) | |||
Total distributions | - | (.03) | (.02) | |||
Net asset value, end of period | $ | 10.36 | $ | 9.68 | $ | 9.37 |
Total Return F,G,H | 7.02% | 3.66% | (6.10)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.85% K | 2.19% | 4.05% K | |||
Expenses net of fee waivers, if any | 1.39% K | 1.40% | 1.39% K | |||
Expenses net of all reductions | 1.39% K | 1.40% | 1.39% K | |||
Net investment income (loss) | .03% K | .31% E | (.26)% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 358 | $ | 351 | $ | 258 |
Portfolio turnover rate L | 32% K | 37% | 55% K |
Fidelity Advisor® Sustainable U.S. Equity Fund Class C |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.62 | $ | 9.34 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | (.02) | (.02) D | (.07) | |||
Net realized and unrealized gain (loss) | .68 | .31 | (.58) | |||
Total from investment operations | .66 | .29 | (.65) | |||
Distributions from net investment income | - | (.01) | - | |||
Distributions from net realized gain | - | - | (.01) | |||
Total distributions | - | (.01) | (.01) | |||
Net asset value, end of period | $ | 10.28 | $ | 9.62 | $ | 9.34 |
Total Return E,F,G | 6.86% | 3.07% | (6.53)% | |||
Ratios to Average Net Assets B,H,I | ||||||
Expenses before reductions | 2.32% J | 2.71% | 4.65% J | |||
Expenses net of fee waivers, if any | 1.89% J | 1.90% | 1.89% J | |||
Expenses net of all reductions | 1.89% J | 1.90% | 1.89% J | |||
Net investment income (loss) | (.47)% J | (.20)% D | (.75)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 424 | $ | 305 | $ | 273 |
Portfolio turnover rate K | 32% J | 37% | 55% J |
Fidelity® Sustainable U.S. Equity Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.72 | $ | 9.40 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .03 | .07 D | .02 | |||
Net realized and unrealized gain (loss) | .67 | .31 | (.57) | |||
Total from investment operations | .70 | .38 | (.55) | |||
Distributions from net investment income | (.01) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.01) | (.06) | (.05) | |||
Net asset value, end of period | $ | 10.41 | $ | 9.72 | $ | 9.40 |
Total Return E,F | 7.24% | 4.14% | (5.58)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.33% I | 1.70% | 3.21% I | |||
Expenses net of fee waivers, if any | .89% I | .90% | .89% I | |||
Expenses net of all reductions | .89% I | .90% | .89% I | |||
Net investment income (loss) | .53% I | .80% D | .24% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 19,621 | $ | 16,265 | $ | 14,669 |
Portfolio turnover rate J | 32% I | 37% | 55% I |
Fidelity Advisor® Sustainable U.S. Equity Fund Class I |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.72 | $ | 9.40 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .03 | .07 D | .02 | |||
Net realized and unrealized gain (loss) | .67 | .31 | (.57) | |||
Total from investment operations | .70 | .38 | (.55) | |||
Distributions from net investment income | (.01) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.01) | (.06) | (.05) | |||
Net asset value, end of period | $ | 10.41 | $ | 9.72 | $ | 9.40 |
Total Return E,F | 7.24% | 4.14% | (5.58)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.18% I | 1.58% | 3.76% I | |||
Expenses net of fee waivers, if any | .89% I | .90% | .90% I | |||
Expenses net of all reductions | .89% I | .90% | .90% I | |||
Net investment income (loss) | .53% I | .80% D | .24% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 190 | $ | 124 | $ | 116 |
Portfolio turnover rate J | 32% I | 37% | 55% I |
Fidelity Advisor® Sustainable U.S. Equity Fund Class Z |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.74 | $ | 9.41 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .03 | .09 D | .04 | |||
Net realized and unrealized gain (loss) | .69 | .30 | (.58) | |||
Total from investment operations | .72 | .39 | (.54) | |||
Distributions from net investment income | (.01) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.01) | (.06) | (.05) | |||
Net asset value, end of period | $ | 10.45 | $ | 9.74 | $ | 9.41 |
Total Return E,F | 7.43% | 4.24% | (5.48)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.05% I | 1.51% | 3.72% I | |||
Expenses net of fee waivers, if any | .74% I | .75% | .75% I | |||
Expenses net of all reductions | .74% I | .75% | .75% I | |||
Net investment income (loss) | .68% I | .96% D | .39% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 247 | $ | 130 | $ | 113 |
Portfolio turnover rate J | 32% I | 37% | 55% I |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $2,876,931 |
Gross unrealized depreciation | (1,425,406) |
Net unrealized appreciation (depreciation) | $1,451,525 |
Tax cost | $20,227,275 |
Short-term | $(823,174) |
Long-term | (441,692) |
Total capital loss carryforward | $(1,264,866) |
Purchases ($) | Sales ($) | |
Fidelity Sustainable U.S. Equity Fund | 5,831,808 | 3,113,306 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $934 | $260 |
Class M | .25% | .25% | 916 | 223 |
Class C | .75% | .25% | 1,752 | 642 |
$3,602 | $1,125 |
Retained by FDC | |
Class A | $972 |
Class M | 38 |
$1,010 |
Amount | % of Class-Level Average Net AssetsA | |
Class A | $970 | .26 |
Class M | 462 | .25 |
Class C | 435 | .25 |
Fidelity Sustainable U.S. Equity Fund | 22,888 | .25 |
Class I | 96 | .13 |
Class Z | 41 | .04 |
$24,892 |
% of Class-Level Average Net Assets | |
Class A | 0.2000% |
Class M | 0.2000% |
Class C | 0.2000% |
Fidelity Sustainable U.S. Equity Fund | 0.2000% |
Class I | 0.1317% |
% of Average Net Assets | |
Fidelity Sustainable U.S. Equity Fund | .04 |
% of Average Net Assets | |
Fidelity Sustainable U.S. Equity Fund | 0.0354% |
Amount | |
Fidelity Sustainable U.S. Equity Fund | $44 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Sustainable U.S. Equity Fund | 291,011 | 541,435 | 79,256 |
Amount | |
Fidelity Sustainable U.S. Equity Fund | $16 |
Expense Limitations | Reimbursement | |
Class A | 1.15% | $1,574 |
Class M | 1.40% | 814 |
Class C | 1.90% | 736 |
Fidelity Sustainable U.S. Equity Fund | .90% | 39,622 |
Class I | .90% | 208 |
Class Z | .75% | 296 |
$43,250 |
Six months ended November 30, 2023 | Year ended May 31, 2023 | |
Fidelity Sustainable U.S. Equity Fund | ||
Distributions to shareholders | ||
Class A | $333 | $2,967 |
Class M | - | 1,064 |
Class C | - | 201 |
Fidelity Sustainable U.S. Equity Fund | 24,514 | 102,541 |
Class I | 172 | 778 |
Class Z | 196 | 754 |
Total | $25,215 | $108,305 |
Shares | Shares | Dollars | Dollars | |
Six months ended November 30, 2023 | Year ended May 31, 2023 | Six months ended November 30, 2023 | Year ended May 31, 2023 | |
Fidelity Sustainable U.S. Equity Fund | ||||
Class A | ||||
Shares sold | 22,378 | 29,639 | $229,031 | $276,421 |
Reinvestment of distributions | 32 | 334 | 333 | 2,967 |
Shares redeemed | (6,354) | (31,294) | (65,688) | (282,276) |
Net increase (decrease) | 16,056 | (1,321) | $163,676 | $(2,888) |
Class M | ||||
Shares sold | 4,068 | 9,821 | $41,075 | $88,021 |
Reinvestment of distributions | - | 120 | - | 1,064 |
Shares redeemed | (5,743) | (1,245) | (56,846) | (11,576) |
Net increase (decrease) | (1,675) | 8,696 | $(15,771) | $77,509 |
Class C | ||||
Shares sold | 11,681 | 9,716 | $115,999 | $89,433 |
Reinvestment of distributions | - | 23 | - | 201 |
Shares redeemed | (2,164) | (7,231) | (22,091) | (68,668) |
Net increase (decrease) | 9,517 | 2,508 | $93,908 | $20,966 |
Fidelity Sustainable U.S. Equity Fund | ||||
Shares sold | 540,127 | 645,911 | $5,493,121 | $5,923,495 |
Reinvestment of distributions | 2,055 | 10,196 | 21,558 | 90,609 |
Shares redeemed | (331,477) | (543,016) | (3,378,561) | (4,932,160) |
Net increase (decrease) | 210,705 | 113,091 | $2,136,118 | $1,081,944 |
Class I | ||||
Shares sold | 7,851 | 284 | $77,531 | $2,705 |
Reinvestment of distributions | 16 | 88 | 172 | 778 |
Shares redeemed | (2,317) | - | (23,839) | - |
Net increase (decrease) | 5,550 | 372 | $53,864 | $3,483 |
Class Z | ||||
Shares sold | 10,231 | 1,977 | $105,326 | $18,587 |
Reinvestment of distributions | 19 | 85 | 196 | 754 |
Shares redeemed | - | (690) | - | (6,266) |
Net increase (decrease) | 10,250 | 1,372 | $105,522 | $13,075 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Sustainable U.S. Equity Fund | ||||||||||
Class A ** | 1.14% | |||||||||
Actual | $ 1,000 | $ 1,071.60 | $ 5.90 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.30 | $ 5.76 | |||||||
Class M | 1.39% | |||||||||
Actual | $ 1,000 | $ 1,070.20 | $ 7.19 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.05 | $ 7.01 | |||||||
Class C | 1.89% | |||||||||
Actual | $ 1,000 | $ 1,068.60 | $ 9.77 | |||||||
Hypothetical-B | $ 1,000 | $ 1,015.55 | $ 9.52 | |||||||
Fidelity® Sustainable U.S. Equity Fund ** | .89% | |||||||||
Actual | $ 1,000 | $ 1,072.40 | $ 4.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.55 | $ 4.50 | |||||||
Class I | .89% | |||||||||
Actual | $ 1,000 | $ 1,072.40 | $ 4.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.55 | $ 4.50 | |||||||
Class Z | .74% | |||||||||
Actual | $ 1,000 | $ 1,074.30 | $ 3.84 | |||||||
Hypothetical-B | $ 1,000 | $ 1,021.30 | $ 3.74 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Sustainable U.S. Equity Fund | ||||||
Class A | 1.08% | |||||
Actual | $ 5.59 | |||||
Hypothetical- B | $ 5.45 | |||||
Fidelity® Sustainable U.S. Equity Fund | .84% | |||||
Actual | $ 4.35 | |||||
Hypothetical- B | $ 4.24 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
Contents
Top Holdings (% of Fund's net assets) | ||
Deere & Co. | 23.5 | |
Corteva, Inc. | 9.9 | |
Archer Daniels Midland Co. | 8.0 | |
Nutrien Ltd. | 7.7 | |
Bunge Global SA | 4.9 | |
Lamb Weston Holdings, Inc. | 4.9 | |
Ingredion, Inc. | 4.8 | |
CF Industries Holdings, Inc. | 4.5 | |
Toro Co. | 4.1 | |
Darling Ingredients, Inc. | 3.6 | |
75.9 | ||
Market Sectors (% of Fund's net assets) | ||
Consumer Staples | 39.5 | |
Materials | 30.6 | |
Industrials | 29.0 | |
Health Care | 0.5 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.6% | |||
Shares | Value ($) | ||
CONSUMER STAPLES - 39.5% | |||
Food Products - 39.5% | |||
Adecoagro SA | 61,162 | 700,917 | |
Archer Daniels Midland Co. | 69,503 | 5,124,456 | |
Bakkafrost | 34,355 | 1,659,018 | |
Bunge Global SA | 28,736 | 3,157,224 | |
Cranswick PLC | 37,550 | 1,820,352 | |
Darling Ingredients, Inc. (a) | 52,057 | 2,283,741 | |
First Resources Ltd. | 654,667 | 680,262 | |
Ingredion, Inc. | 29,833 | 3,057,584 | |
Lamb Weston Holdings, Inc. | 31,291 | 3,130,039 | |
Origin Enterprises PLC | 191,631 | 722,766 | |
Pilgrim's Pride Corp. (a) | 47,056 | 1,202,751 | |
Sakata Seed Corp. | 63,237 | 1,699,713 | |
25,238,823 | |||
HEALTH CARE - 0.5% | |||
Biotechnology - 0.5% | |||
Cibus, Inc. (a) | 25,743 | 323,590 | |
INDUSTRIALS - 29.0% | |||
Machinery - 29.0% | |||
AGCO Corp. | 8,270 | 938,893 | |
Deere & Co. | 41,108 | 14,980,166 | |
Toro Co. | 31,311 | 2,598,813 | |
18,517,872 | |||
MATERIALS - 30.6% | |||
Chemicals - 30.6% | |||
CF Industries Holdings, Inc. | 37,864 | 2,845,480 | |
Corteva, Inc. | 139,140 | 6,289,128 | |
FMC Corp. | 26,267 | 1,409,487 | |
Nufarm Ltd. | 350,122 | 1,096,566 | |
Nutrien Ltd. | 92,453 | 4,945,089 | |
OCI NV | 51,788 | 1,112,768 | |
Sabic Agriculture-Nutrients Co. | 39,638 | 1,453,869 | |
The Mosaic Co. | 9,933 | 356,495 | |
19,508,882 | |||
TOTAL COMMON STOCKS (Cost $59,902,539) | 63,589,167 | ||
TOTAL INVESTMENT IN SECURITIES - 99.6% (Cost $59,902,539) | 63,589,167 |
NET OTHER ASSETS (LIABILITIES) - 0.4% | 229,661 |
NET ASSETS - 100.0% | 63,818,828 |
(a) | Non-income producing |
Affiliate | Value, beginning of period ($) | 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 5.40% | 3,462,746 | 5,988,286 | 9,451,032 | 14,063 | - | - | - | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | - | 7,468,480 | 7,468,480 | 6,184 | - | - | - | 0.0% |
Total | 3,462,746 | 13,456,766 | 16,919,512 | 20,247 | - | - | - | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Consumer Staples | 25,238,823 | 25,238,823 | - | - |
Health Care | 323,590 | 323,590 | - | - |
Industrials | 18,517,872 | 18,517,872 | - | - |
Materials | 19,508,882 | 19,508,882 | - | - |
Total Investments in Securities: | 63,589,167 | 63,589,167 | - | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule Unaffiliated issuers (cost $59,902,539): | $ | 63,589,167 | ||
Foreign currency held at value (cost $46) | 46 | |||
Receivable for investments sold | 530,718 | |||
Receivable for fund shares sold | 17,853 | |||
Dividends receivable | 110,890 | |||
Distributions receivable from Fidelity Central Funds | 1,250 | |||
Prepaid expenses | 103 | |||
Receivable from investment adviser for expense reductions | 5,853 | |||
Total assets | 64,255,880 | |||
Liabilities | ||||
Payable to custodian bank | $ | 168,839 | ||
Payable for fund shares redeemed | 184,387 | |||
Accrued management fee | 37,003 | |||
Other affiliated payables | 17,196 | |||
Audit fee payable | 23,484 | |||
Other payables and accrued expenses | 6,143 | |||
Total Liabilities | 437,052 | |||
Net Assets | $ | 63,818,828 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 80,721,824 | ||
Total accumulated earnings (loss) | (16,902,996) | |||
Net Assets | $ | 63,818,828 | ||
Net Asset Value, offering price and redemption price per share ($63,818,828 ÷ 3,699,333 shares) | $ | 17.25 |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 692,361 | ||
Income from Fidelity Central Funds (including $6,184 from security lending) | 20,247 | |||
Total Income | 712,608 | |||
Expenses | ||||
Management fee | $ | 259,682 | ||
Transfer agent fees | 94,721 | |||
Accounting fees | 19,208 | |||
Custodian fees and expenses | 9,863 | |||
Independent trustees' fees and expenses | 230 | |||
Registration fees | 8,776 | |||
Audit | 23,428 | |||
Legal | 31 | |||
Miscellaneous | 169 | |||
Total expenses before reductions | 416,108 | |||
Expense reductions | (52,164) | |||
Total expenses after reductions | 363,944 | |||
Net Investment income (loss) | 348,664 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (1,321,105) | |||
Foreign currency transactions | (1,996) | |||
Total net realized gain (loss) | (1,323,101) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (840,300) | |||
Assets and liabilities in foreign currencies | 1,051 | |||
Total change in net unrealized appreciation (depreciation) | (839,249) | |||
Net gain (loss) | (2,162,350) | |||
Net increase (decrease) in net assets resulting from operations | $ | (1,813,686) |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 348,664 | $ | 1,930,674 |
Net realized gain (loss) | (1,323,101) | (16,176,517) | ||
Change in net unrealized appreciation (depreciation) | (839,249) | (10,297,106) | ||
Net increase (decrease) in net assets resulting from operations | (1,813,686) | (24,542,949) | ||
Distributions to shareholders | (504,586) | (1,523,416) | ||
Share transactions | ||||
Proceeds from sales of shares | 9,796,343 | 84,868,962 | ||
Reinvestment of distributions | 460,742 | 1,392,002 | ||
Cost of shares redeemed | (27,022,162) | (143,837,666) | ||
Net increase (decrease) in net assets resulting from share transactions | (16,765,077) | (57,576,702) | ||
Total increase (decrease) in net assets | (19,083,349) | (83,643,067) | ||
Net Assets | ||||
Beginning of period | 82,902,177 | 166,545,244 | ||
End of period | $ | 63,818,828 | $ | 82,902,177 |
Other Information | ||||
Shares | ||||
Sold | 517,034 | 4,113,273 | ||
Issued in reinvestment of distributions | 23,664 | 68,059 | ||
Redeemed | (1,445,651) | (7,284,543) | ||
Net increase (decrease) | (904,953) | (3,103,211) | ||
Fidelity® Agricultural Productivity Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 18.01 | $ | 21.61 | $ | 18.89 | $ | 10.91 | $ | 10.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .08 | .32 | .16 D | .13 E | .03 | |||||
Net realized and unrealized gain (loss) | (.72) | (3.67) | 2.69 | 7.92 | .88 | |||||
Total from investment operations | (.64) | (3.35) | 2.85 | 8.05 | .91 | |||||
Distributions from net investment income | (.12) | (.25) | (.09) | (.07) | - | |||||
Distributions from net realized gain | - | - | (.04) | - F | - | |||||
Total distributions | (.12) | (.25) | (.13) | (.07) | - | |||||
Net asset value, end of period | $ | 17.25 | $ | 18.01 | $ | 21.61 | $ | 18.89 | $ | 10.91 |
Total Return G,H | (3.64)% | (15.66)% | 15.24% | 74.02% | 9.10% | |||||
Ratios to Average Net Assets C,I,J | ||||||||||
Expenses before reductions | 1.08% K | 1.08% | 1.15% | 1.59% | 7.25% K,L | |||||
Expenses net of fee waivers, if any | .94% K | .95% | .99% | 1.00% | .97% K,L,M | |||||
Expenses net of all reductions | .94% K | .95% | .99% | .98% | .97% K,L,M | |||||
Net investment income (loss) | .90% K | 1.57% | .81% D | .80% E | 2.42% K,L | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 63,819 | $ | 82,902 | $ | 166,545 | $ | 62,894 | $ | 3,390 |
Portfolio turnover rate N | 16% K | 44% | 50% | 19% | 4% O |
Top Holdings (% of Fund's net assets) | ||
Pentair PLC | 8.7 | |
Tetra Tech, Inc. | 8.0 | |
United Utilities Group PLC | 7.6 | |
Xylem, Inc. | 6.8 | |
Ingersoll Rand, Inc. | 5.6 | |
Stantec, Inc. | 5.1 | |
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR | 5.0 | |
American Water Works Co., Inc. | 4.8 | |
Severn Trent PLC | 4.6 | |
Chart Industries, Inc. | 4.6 | |
60.8 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 65.8 | |
Utilities | 27.6 | |
Information Technology | 4.0 | |
Materials | 2.2 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 94.6% | |||
Shares | Value ($) | ||
INDUSTRIALS - 65.8% | |||
Building Products - 7.3% | |||
Advanced Drain Systems, Inc. | 22,689 | 2,747,865 | |
Geberit AG (Reg.) | 6,384 | 3,567,808 | |
6,315,673 | |||
Commercial Services & Supplies - 8.6% | |||
Tetra Tech, Inc. | 44,044 | 6,965,559 | |
Veralto Corp. | 6,382 | 493,010 | |
7,458,569 | |||
Construction & Engineering - 5.1% | |||
Stantec, Inc. | 59,417 | 4,427,759 | |
Machinery - 40.6% | |||
Chart Industries, Inc. (a) | 30,798 | 4,004,664 | |
Energy Recovery, Inc. (a) | 50,376 | 960,167 | |
Georg Fischer AG (Reg.) | 22,260 | 1,456,547 | |
IDEX Corp. | 10,117 | 2,040,397 | |
Ingersoll Rand, Inc. | 67,929 | 4,852,168 | |
Kurita Water Industries Ltd. | 56,762 | 2,005,392 | |
Mueller Water Products, Inc. Class A | 273,458 | 3,634,257 | |
Organo Corp. | 11,144 | 455,501 | |
Pentair PLC | 116,909 | 7,545,306 | |
Watts Water Technologies, Inc. Class A | 12,393 | 2,385,776 | |
Xylem, Inc. | 56,147 | 5,902,734 | |
35,242,909 | |||
Professional Services - 1.9% | |||
KBR, Inc. | 31,306 | 1,617,581 | |
Trading Companies & Distributors - 2.3% | |||
Core & Main, Inc. (a) | 58,186 | 2,038,256 | |
TOTAL INDUSTRIALS | 57,100,747 | ||
INFORMATION TECHNOLOGY - 4.0% | |||
Electronic Equipment, Instruments & Components - 1.2% | |||
Badger Meter, Inc. | 7,077 | 1,042,937 | |
Software - 2.8% | |||
Roper Technologies, Inc. | 4,483 | 2,412,975 | |
TOTAL INFORMATION TECHNOLOGY | 3,455,912 | ||
MATERIALS - 2.2% | |||
Chemicals - 2.2% | |||
Ecolab, Inc. | 10,106 | 1,937,623 | |
UTILITIES - 22.6% | |||
Water Utilities - 22.6% | |||
American Water Works Co., Inc. | 31,907 | 4,206,619 | |
Essential Utilities, Inc. | 99,335 | 3,537,319 | |
Pennon Group PLC | 142,269 | 1,269,825 | |
Severn Trent PLC | 122,742 | 4,030,396 | |
United Utilities Group PLC | 479,524 | 6,607,777 | |
19,651,936 | |||
TOTAL COMMON STOCKS (Cost $74,004,469) | 82,146,218 | ||
Nonconvertible Preferred Stocks - 5.0% | |||
Shares | Value ($) | ||
UTILITIES - 5.0% | |||
Water Utilities - 5.0% | |||
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR (Cost $3,687,559) | 316,604 | 4,343,807 | |
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $180,589) | 180,553 | 180,589 | |
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $77,872,617) | 86,670,614 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 154,725 |
NET ASSETS - 100.0% | 86,825,339 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | - | 11,046,996 | 10,866,407 | 23,480 | - | - | 180,589 | 0.0% |
Total | - | 11,046,996 | 10,866,407 | 23,480 | - | - | 180,589 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 57,100,747 | 57,100,747 | - | - |
Information Technology | 3,455,912 | 3,455,912 | - | - |
Materials | 1,937,623 | 1,937,623 | - | - |
Utilities | 23,995,743 | 17,387,966 | 6,607,777 | - |
Money Market Funds | 180,589 | 180,589 | - | - |
Total Investments in Securities: | 86,670,614 | 80,062,837 | 6,607,777 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $77,692,028) | $ | 86,490,025 | ||
Fidelity Central Funds (cost $180,589) | 180,589 | |||
Total Investment in Securities (cost $77,872,617) | $ | 86,670,614 | ||
Receivable for fund shares sold | 63,653 | |||
Dividends receivable | 197,062 | |||
Distributions receivable from Fidelity Central Funds | 793 | |||
Prepaid expenses | 108 | |||
Receivable from investment adviser for expense reductions | 4,742 | |||
Total assets | 86,936,972 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 14,691 | ||
Accrued management fee | 47,354 | |||
Transfer agent fee payable | 17,185 | |||
Other affiliated payables | 3,501 | |||
Audit fee payable | 26,621 | |||
Other payables and accrued expenses | 2,281 | |||
Total Liabilities | 111,633 | |||
Net Assets | $ | 86,825,339 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 85,107,637 | ||
Total accumulated earnings (loss) | 1,717,702 | |||
Net Assets | $ | 86,825,339 | ||
Net Asset Value, offering price and redemption price per share ($86,825,339 ÷ 5,791,043 shares) | $ | 14.99 |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 537,905 | ||
Income from Fidelity Central Funds | 23,480 | |||
Total Income | 561,385 | |||
Expenses | ||||
Management fee | $ | 297,090 | ||
Transfer agent fees | 109,965 | |||
Accounting fees and expenses | 21,975 | |||
Custodian fees and expenses | 5,036 | |||
Independent trustees' fees and expenses | 237 | |||
Registration fees | 6,619 | |||
Audit | 26,874 | |||
Legal | 32 | |||
Miscellaneous | 168 | |||
Total expenses before reductions | 467,996 | |||
Expense reductions | (51,773) | |||
Total expenses after reductions | 416,223 | |||
Net Investment income (loss) | 145,162 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 663,409 | |||
Foreign currency transactions | 5,582 | |||
Total net realized gain (loss) | 668,991 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 5,633,370 | |||
Assets and liabilities in foreign currencies | 1,483 | |||
Total change in net unrealized appreciation (depreciation) | 5,634,853 | |||
Net gain (loss) | 6,303,844 | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,449,006 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 145,162 | $ | 364,001 |
Net realized gain (loss) | 668,991 | (4,534,447) | ||
Change in net unrealized appreciation (depreciation) | 5,634,853 | 5,690,755 | ||
Net increase (decrease) in net assets resulting from operations | 6,449,006 | 1,520,309 | ||
Distributions to shareholders | (194,769) | (69,878) | ||
Share transactions | ||||
Proceeds from sales of shares | 11,332,240 | 20,026,590 | ||
Reinvestment of distributions | 175,347 | 63,456 | ||
Cost of shares redeemed | (15,321,371) | (31,388,558) | ||
Net increase (decrease) in net assets resulting from share transactions | (3,813,784) | (11,298,512) | ||
Total increase (decrease) in net assets | 2,440,453 | (9,848,081) | ||
Net Assets | ||||
Beginning of period | 84,384,886 | 94,232,967 | ||
End of period | $ | 86,825,339 | $ | 84,384,886 |
Other Information | ||||
Shares | ||||
Sold | 759,524 | 1,475,734 | ||
Issued in reinvestment of distributions | 11,461 | 4,549 | ||
Redeemed | (1,036,838) | (2,383,662) | ||
Net increase (decrease) | (265,853) | (903,379) | ||
Fidelity® Water Sustainability Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 | 2021 | 2020 A | ||||||
Selected Per-Share Data | ||||||||||
Net asset value, beginning of period | $ | 13.93 | $ | 13.54 | $ | 14.84 | $ | 10.75 | $ | 10.00 |
Income from Investment Operations | ||||||||||
Net investment income (loss) B,C | .02 | .06 | (.04) | .01 | .02 | |||||
Net realized and unrealized gain (loss) | 1.07 | .34 | (1.02) | 4.28 | .73 | |||||
Total from investment operations | 1.09 | .40 | (1.06) | 4.29 | .75 | |||||
Distributions from net investment income | (.03) | (.01) | - D | (.02) | - | |||||
Distributions from net realized gain | - | - | (.24) | (.18) | - | |||||
Total distributions | (.03) | (.01) | (.24) | (.20) | - | |||||
Net asset value, end of period | $ | 14.99 | $ | 13.93 | $ | 13.54 | $ | 14.84 | $ | 10.75 |
Total Return E,F | 7.83% | 2.96% | (7.44)% | 40.20% | 7.50% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | 1.06% I | 1.09% | 1.11% | 1.44% | 4.15% I,J,K | |||||
Expenses net of fee waivers, if any | .94% I | .95% | 1.00% | 1.00% | .97% I,J,K | |||||
Expenses net of all reductions | .94% I | .95% | 1.00% | .98% | .97% I,J,K | |||||
Net investment income (loss) | .33% I | .41% | (.29)% | .11% | 1.39% I,J,K | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 86,825 | $ | 84,385 | $ | 94,233 | $ | 55,774 | $ | 4,363 |
Portfolio turnover rate L | 77% I | 54% | 55% | 95% | 13% M |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Tax cost | Gross unrealized appreciation | Gross unrealized depreciation | Net unrealized appreciation (depreciation) | |
Fidelity Agricultural Productivity Fund | $60,143,142 | $8,967,291 | $ (5,521,266) | $3,446,025 |
Fidelity Water Sustainability Fund | 77,977,946 | 12,391,379 | (3,698,711) | 8,692,668 |
Short-term | Long-term | Total capital loss carryforward | |
Fidelity Agricultural Productivity Fund | $ (17,967,474) | $ (1,043,787) | $ (19,011,261) |
Fidelity Water Sustainability Fund | (5,548,838) | (2,144,792) | (7,693,630) |
Purchases ($) | Sales ($) | |
Fidelity Agricultural Productivity Fund | 6,202,965 | 20,034,785 |
Fidelity Water Sustainability Fund | 33,401,108 | 36,414,380 |
Individual Rate | Group Rate | Total | |
Fidelity Agricultural Productivity Fund | .45% | .22% | .67% |
Fidelity Water Sustainability Fund | .45% | .22% | .67% |
Fidelity Agricultural Productivity Fund | .25% |
Fidelity Water Sustainability Fund | .25% |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | 0.2000% |
Fidelity Water Sustainability Fund | 0.2000% |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | .05 |
Fidelity Water Sustainability Fund | .05 |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | 0.0498% |
Fidelity Water Sustainability Fund | 0.0497% |
Amount | |
Fidelity Agricultural Productivity Fund | $ 77 |
Fidelity Water Sustainability Fund | 489 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Agricultural Productivity Fund | 84,092 | 38,739 | (3,329) |
Fidelity Water Sustainability Fund | 15,224 | - | - |
Amount | |
Fidelity Agricultural Productivity Fund | $73 |
Fidelity Water Sustainability Fund | 74 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Agricultural Productivity Fund | $662 | $- | $- |
Fidelity Water Sustainability Fund | $- | $- | $- |
Expense Limitations | Reimbursement | |
Fidelity Agricultural Productivity Fund | .95% | $ 49,033 |
Fidelity Water Sustainability Fund | .95% | $ 48,451 |
Amount | |
Fidelity Agricultural Productivity Fund | $ 3,131 |
Fidelity Water Sustainability Fund | 3,322 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Agricultural Productivity Fund ** | .94% | |||||||||
Actual | $ 1,000 | $ 963.60 | $ 4.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.30 | $ 4.75 | |||||||
Fidelity® Water Sustainability Fund ** | .94% | |||||||||
Actual | $ 1,000 | $ 1,078.30 | $ 4.88 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.30 | $ 4.75 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Agricultural Productivity Fund | .89% | |||||
Actual | $ 4.37 | |||||
Hypothetical- B | $ 4.50 | |||||
Fidelity® Water Sustainability Fund | .89% | |||||
Actual | $ 4.62 | |||||
Hypothetical- B | $ 4.50 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.7 | |
NVIDIA Corp. | 5.6 | |
Alphabet, Inc. Class A | 3.8 | |
Moody's Corp. | 2.7 | |
Accenture PLC Class A | 2.7 | |
Thermo Fisher Scientific, Inc. | 2.1 | |
Eaton Corp. PLC | 2.0 | |
Kenvue, Inc. | 2.0 | |
Marsh & McLennan Companies, Inc. | 1.9 | |
IBM Corp. | 1.8 | |
32.3 | ||
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
Illuminated Holdings, Inc. | 0.1 |
Market Sectors (% of Fund's net assets) | ||
Information Technology | 34.2 | |
Industrials | 18.4 | |
Health Care | 11.9 | |
Financials | 10.9 | |
Consumer Discretionary | 9.2 | |
Consumer Staples | 4.7 | |
Communication Services | 3.8 | |
Materials | 3.1 | |
Energy | 1.7 | |
Utilities | 1.1 | |
Real Estate | 1.0 | |
Asset Allocation (% of Fund's net assets) |
Geographic Diversification (% of Fund's net assets) |
* Includes Short-Term investments and Net Other Assets (Liabilities). Percentages are adjusted for the effect of derivatives, if applicable. |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 3.8% | |||
Interactive Media & Services - 3.8% | |||
Alphabet, Inc. Class A (a) | 6,839 | 906,373 | |
CONSUMER DISCRETIONARY - 9.2% | |||
Automobiles - 0.5% | |||
BYD Co. Ltd. (A Shares) | 4,304 | 120,111 | |
Broadline Retail - 3.0% | |||
Amazon.com, Inc. (a) | 2,893 | 422,638 | |
MercadoLibre, Inc. (a) | 174 | 281,960 | |
704,598 | |||
Hotels, Restaurants & Leisure - 1.2% | |||
Chipotle Mexican Grill, Inc. (a) | 124 | 273,079 | |
Household Durables - 1.6% | |||
Mohawk Industries, Inc. (a) | 2,136 | 188,630 | |
TopBuild Corp. (a) | 594 | 175,693 | |
364,323 | |||
Leisure Products - 0.7% | |||
YETI Holdings, Inc. (a) | 4,018 | 171,328 | |
Specialty Retail - 1.5% | |||
Lowe's Companies, Inc. | 1,798 | 357,496 | |
Textiles, Apparel & Luxury Goods - 0.7% | |||
NIKE, Inc. Class B | 645 | 71,124 | |
On Holding AG (a) | 3,445 | 99,939 | |
171,063 | |||
TOTAL CONSUMER DISCRETIONARY | 2,161,998 | ||
CONSUMER STAPLES - 4.7% | |||
Household Products - 1.3% | |||
Procter & Gamble Co. | 1,948 | 299,057 | |
Personal Care Products - 3.4% | |||
Kenvue, Inc. | 22,821 | 466,461 | |
L'Oreal SA | 730 | 343,021 | |
809,482 | |||
TOTAL CONSUMER STAPLES | 1,108,539 | ||
ENERGY - 1.7% | |||
Energy Equipment & Services - 0.8% | |||
Baker Hughes Co. Class A | 5,533 | 186,739 | |
Oil, Gas & Consumable Fuels - 0.9% | |||
Cameco Corp. | 1,916 | 87,983 | |
Centrus Energy Corp. Class A (a) | 2,270 | 113,545 | |
201,528 | |||
TOTAL ENERGY | 388,267 | ||
FINANCIALS - 10.9% | |||
Banks - 0.4% | |||
Amalgamated Financial Corp. | 4,849 | 101,829 | |
Capital Markets - 6.2% | |||
Intercontinental Exchange, Inc. | 2,814 | 320,346 | |
Moody's Corp. | 1,765 | 644,154 | |
Morgan Stanley | 3,249 | 257,776 | |
S&P Global, Inc. | 548 | 227,875 | |
1,450,151 | |||
Consumer Finance - 2.4% | |||
American Express Co. | 1,806 | 308,411 | |
Capital One Financial Corp. | 2,325 | 259,610 | |
568,021 | |||
Insurance - 1.9% | |||
Marsh & McLennan Companies, Inc. | 2,246 | 447,897 | |
TOTAL FINANCIALS | 2,567,898 | ||
HEALTH CARE - 11.9% | |||
Biotechnology - 2.0% | |||
Gilead Sciences, Inc. | 4,193 | 321,184 | |
Repligen Corp. (a) | 973 | 153,004 | |
474,188 | |||
Health Care Providers & Services - 2.6% | |||
Elevance Health, Inc. | 806 | 386,469 | |
UnitedHealth Group, Inc. | 390 | 215,658 | |
602,127 | |||
Life Sciences Tools & Services - 4.5% | |||
Agilent Technologies, Inc. | 2,046 | 261,479 | |
Danaher Corp. | 425 | 94,907 | |
Mettler-Toledo International, Inc. (a) | 186 | 203,099 | |
Thermo Fisher Scientific, Inc. | 1,003 | 497,247 | |
1,056,732 | |||
Pharmaceuticals - 2.8% | |||
GSK PLC | 17,408 | 312,778 | |
Novo Nordisk A/S Series B | 3,515 | 359,109 | |
671,887 | |||
TOTAL HEALTH CARE | 2,804,934 | ||
INDUSTRIALS - 18.4% | |||
Aerospace & Defense - 1.1% | |||
BWX Technologies, Inc. | 1,214 | 94,728 | |
Woodward, Inc. | 1,260 | 170,327 | |
265,055 | |||
Building Products - 2.3% | |||
The AZEK Co., Inc. (a) | 5,890 | 203,146 | |
Trane Technologies PLC | 1,506 | 339,467 | |
542,613 | |||
Commercial Services & Supplies - 1.0% | |||
Veralto Corp. | 2,945 | 227,501 | |
Construction & Engineering - 2.2% | |||
AECOM | 2,549 | 226,504 | |
Cadeler A/S (a) | 11,267 | 35,967 | |
Fluor Corp. (a) | 3,116 | 118,501 | |
Quanta Services, Inc. | 724 | 136,336 | |
517,308 | |||
Electrical Equipment - 5.2% | |||
Array Technologies, Inc. (a) | 8,897 | 137,637 | |
Eaton Corp. PLC | 2,092 | 476,327 | |
Enovix Corp. (a) | 4,019 | 44,490 | |
Fluence Energy, Inc. (a) | 2,232 | 55,979 | |
HD Hyundai Electric Co. Ltd. | 2,361 | 152,756 | |
Hubbell, Inc. Class B | 296 | 88,800 | |
Prysmian SpA | 2,393 | 92,027 | |
Vestas Wind Systems A/S (a) | 5,913 | 163,498 | |
1,211,514 | |||
Machinery - 2.4% | |||
Chart Industries, Inc. (a) | 278 | 36,148 | |
Energy Recovery, Inc. (a) | 5,718 | 108,985 | |
Ingersoll Rand, Inc. | 3,762 | 268,720 | |
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares) | 34,200 | 138,597 | |
552,450 | |||
Professional Services - 3.0% | |||
ICF International, Inc. | 1,153 | 161,362 | |
KBR, Inc. | 6,605 | 341,280 | |
RELX PLC (London Stock Exchange) | 5,512 | 212,117 | |
714,759 | |||
Trading Companies & Distributors - 1.2% | |||
Applied Industrial Technologies, Inc. | 566 | 90,600 | |
Ashtead Technology Holdings PLC | 26,842 | 201,965 | |
292,565 | |||
TOTAL INDUSTRIALS | 4,323,765 | ||
INFORMATION TECHNOLOGY - 34.2% | |||
Electronic Equipment, Instruments & Components - 2.4% | |||
Amphenol Corp. Class A | 3,835 | 348,947 | |
Flex Ltd. (a) | 7,934 | 201,920 | |
550,867 | |||
IT Services - 4.5% | |||
Accenture PLC Class A | 1,907 | 635,298 | |
IBM Corp. | 2,732 | 433,186 | |
1,068,484 | |||
Semiconductors & Semiconductor Equipment - 12.3% | |||
AEHR Test Systems (a) | 1,173 | 26,932 | |
Aixtron AG | 3,274 | 119,065 | |
Allegro MicroSystems LLC (a) | 7,048 | 191,847 | |
Applied Materials, Inc. | 2,890 | 432,864 | |
ASM International NV (Netherlands) | 191 | 97,860 | |
Enphase Energy, Inc. (a) | 554 | 55,965 | |
First Solar, Inc. (a) | 1,624 | 256,235 | |
NVIDIA Corp. | 2,840 | 1,328,268 | |
ON Semiconductor Corp. (a) | 303 | 21,613 | |
Qualcomm, Inc. | 1,719 | 221,837 | |
SolarEdge Technologies, Inc. (a) | 794 | 63,028 | |
Universal Display Corp. | 490 | 82,908 | |
2,898,422 | |||
Software - 13.2% | |||
Aspen Technology, Inc. (a) | 1,322 | 248,880 | |
CyberArk Software Ltd. (a) | 940 | 187,314 | |
Intuit, Inc. | 576 | 329,161 | |
Microsoft Corp. | 4,770 | 1,807,403 | |
Samsara, Inc. (a) | 4,739 | 130,512 | |
ServiceNow, Inc. (a) | 534 | 366,185 | |
Volue A/S (a) | 27,462 | 46,549 | |
3,116,004 | |||
Technology Hardware, Storage & Peripherals - 1.8% | |||
Apple, Inc. | 2,219 | 421,499 | |
TOTAL INFORMATION TECHNOLOGY | 8,055,276 | ||
MATERIALS - 3.0% | |||
Chemicals - 3.0% | |||
DSM BV | 889 | 90,400 | |
DSM-Firmenich AG | 2,105 | 199,045 | |
Eastman Chemical Co. | 1,122 | 94,057 | |
Linde PLC | 799 | 330,602 | |
714,104 | |||
REAL ESTATE - 1.0% | |||
Equity Real Estate Investment Trusts (REITs) - 1.0% | |||
Prologis (REIT), Inc. | 2,109 | 242,387 | |
UTILITIES - 1.1% | |||
Electric Utilities - 1.1% | |||
Elia Group SA/NV | 800 | 86,601 | |
Verbund AG | 1,769 | 168,486 | |
255,087 | |||
TOTAL COMMON STOCKS (Cost $21,140,314) | 23,528,628 | ||
Convertible Preferred Stocks - 0.0% | |||
Shares | Value ($) | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
CelLink Corp. Series D (a)(b)(c) (Cost $8,330) | 400 | 3,980 | |
Preferred Securities - 0.1% | |||
Principal Amount (d) | Value ($) | ||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Illuminated Holdings, Inc. 0% (b)(c)(e) (Cost $12,000) | 12,000 | 12,007 | |
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (f) (Cost $123,963) | 123,939 | 123,963 | |
TOTAL INVESTMENT IN SECURITIES - 100.5% (Cost $21,284,607) | 23,668,578 |
NET OTHER ASSETS (LIABILITIES) - (0.5)% | (112,752) |
NET ASSETS - 100.0% | 23,555,826 |
(a) | Non-income producing |
(b) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $15,987 or 0.1% of net assets. |
(c) | Level 3 security |
(d) | Amount is stated in United States dollars unless otherwise noted. |
(e) | Security is perpetual in nature with no stated maturity date. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
CelLink Corp. Series D | 1/20/22 | 8,330 |
Illuminated Holdings, Inc. 0% | 9/27/23 | 12,000 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.40% | 424,905 | 3,141,119 | 3,442,061 | 5,940 | - | - | 123,963 | 0.0% |
Total | 424,905 | 3,141,119 | 3,442,061 | 5,940 | - | - | 123,963 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 906,373 | 906,373 | - | - |
Consumer Discretionary | 2,161,998 | 2,161,998 | - | - |
Consumer Staples | 1,108,539 | 765,518 | 343,021 | - |
Energy | 388,267 | 388,267 | - | - |
Financials | 2,567,898 | 2,567,898 | - | - |
Health Care | 2,804,934 | 2,133,047 | 671,887 | - |
Industrials | 4,323,765 | 3,948,150 | 375,615 | - |
Information Technology | 8,059,256 | 8,055,276 | - | 3,980 |
Materials | 714,104 | 623,704 | 90,400 | - |
Real Estate | 242,387 | 242,387 | - | - |
Utilities | 255,087 | 255,087 | - | - |
Preferred Securities | 12,007 | - | - | 12,007 |
Money Market Funds | 123,963 | 123,963 | - | - |
Total Investments in Securities: | 23,668,578 | 22,171,668 | 1,480,923 | 15,987 |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $21,160,644) | $ | 23,544,615 | ||
Fidelity Central Funds (cost $123,963) | 123,963 | |||
Total Investment in Securities (cost $21,284,607) | $ | 23,668,578 | ||
Cash | 1,794 | |||
Foreign currency held at value (cost $6) | 6 | |||
Receivable for investments sold | 280,320 | |||
Receivable for fund shares sold | 2,272 | |||
Dividends receivable | 17,788 | |||
Reclaims receivable | 14,015 | |||
Distributions receivable from Fidelity Central Funds | 886 | |||
Prepaid expenses | 29 | |||
Other receivables | 1 | |||
Total assets | 23,985,689 | |||
Liabilities | ||||
Payable for investments purchased | $ | 320,213 | ||
Payable for fund shares redeemed | 53,595 | |||
Accrued management fee | 11,136 | |||
Distribution and service plan fees payable | 461 | |||
Other affiliated payables | 5,000 | |||
Audit fee payable | 27,187 | |||
Other payables and accrued expenses | 12,271 | |||
Total Liabilities | 429,863 | |||
Net Assets | $ | 23,555,826 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 26,253,956 | ||
Total accumulated earnings (loss) | (2,698,130) | |||
Net Assets | $ | 23,555,826 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($596,834 ÷ 64,232 shares)(a) | $ | 9.29 | ||
Maximum offering price per share (100/94.25 of $9.29) | $ | 9.86 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($454,810 ÷ 49,251 shares)(a) | $ | 9.23 | ||
Maximum offering price per share (100/96.50 of $9.23) | $ | 9.56 | ||
Class C : | ||||
Net Asset Value and offering price per share ($201,839 ÷ 22,128 shares)(a) | $ | 9.12 | ||
Fidelity Climate Action Fund : | ||||
Net Asset Value, offering price and redemption price per share ($21,107,706 ÷ 2,261,020 shares) | $ | 9.34 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($722,263 ÷ 77,371 shares) | $ | 9.34 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($472,374 ÷ 50,419 shares) | $ | 9.37 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 132,910 | ||
Income from Fidelity Central Funds | 5,940 | |||
Total Income | 138,850 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 78,799 | ||
Performance adjustment | (9,831) | |||
Transfer agent fees | 28,289 | |||
Distribution and service plan fees | 2,776 | |||
Accounting fees and expenses | 4,143 | |||
Custodian fees and expenses | 16,956 | |||
Independent trustees' fees and expenses | 62 | |||
Registration fees | 26,365 | |||
Audit | 27,544 | |||
Legal | 8 | |||
Miscellaneous | 44 | |||
Total expenses before reductions | 175,155 | |||
Expense reductions | (50,660) | |||
Total expenses after reductions | 124,495 | |||
Net Investment income (loss) | 14,355 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (603,621) | |||
Foreign currency transactions | 241 | |||
Total net realized gain (loss) | (603,380) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,768,269 | |||
Assets and liabilities in foreign currencies | 502 | |||
Total change in net unrealized appreciation (depreciation) | 1,768,771 | |||
Net gain (loss) | 1,165,391 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,179,746 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 14,355 | $ | 36,772 |
Net realized gain (loss) | (603,380) | (2,925,575) | ||
Change in net unrealized appreciation (depreciation) | 1,768,771 | 2,966,454 | ||
Net increase (decrease) in net assets resulting from operations | 1,179,746 | 77,651 | ||
Distributions to shareholders | (27,441) | (6,506) | ||
Share transactions - net increase (decrease) | (482,633) | 2,655,027 | ||
Total increase (decrease) in net assets | 669,672 | 2,726,172 | ||
Net Assets | ||||
Beginning of period | 22,886,154 | �� | 20,159,982 | |
End of period | $ | 23,555,826 | $ | 22,886,154 |
Fidelity Advisor® Climate Action Fund Class A |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.85 | $ | 8.88 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | - D | - D | (.02) | |||
Net realized and unrealized gain (loss) | .44 | (.03) E | (1.10) | |||
Total from investment operations | .44 | (.03) | (1.12) | |||
Net asset value, end of period | $ | 9.29 | $ | 8.85 | $ | 8.88 |
Total Return F,G,H | 4.97% | (.34)% | (11.20)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.71% K | 1.95% | 2.95% K | |||
Expenses net of fee waivers, if any | 1.29% K | 1.30% | 1.29% K | |||
Expenses net of all reductions | 1.29% K | 1.30% | 1.29% K | |||
Net investment income (loss) | (.10)% K | (.05)% | (.19)% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 597 | $ | 449 | $ | 405 |
Portfolio turnover rate L | 114% K | 51% | 57% K |
Fidelity Advisor® Climate Action Fund Class M |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.81 | $ | 8.86 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | (.02) | (.03) | (.04) | |||
Net realized and unrealized gain (loss) | .44 | (.02) D | (1.10) | |||
Total from investment operations | .42 | (.05) | (1.14) | |||
Net asset value, end of period | $ | 9.23 | $ | 8.81 | $ | 8.86 |
Total Return E,F,G | 4.77% | (.56)% | (11.40)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.91% J | 2.04% | 3.33% J | |||
Expenses net of fee waivers, if any | 1.54% J | 1.55% | 1.55% J | |||
Expenses net of all reductions | 1.54% J | 1.55% | 1.55% J | |||
Net investment income (loss) | (.36)% J | (.30)% | (.45)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 455 | $ | 431 | $ | 132 |
Portfolio turnover rate K | 114% J | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class C |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.72 | $ | 8.82 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | (.04) | (.07) | (.09) | |||
Net realized and unrealized gain (loss) | .44 | (.03) D | (1.09) | |||
Total from investment operations | .40 | (.10) | (1.18) | |||
Net asset value, end of period | $ | 9.12 | $ | 8.72 | $ | 8.82 |
Total Return E,F,G | 4.59% | (1.13)% | (11.80)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 2.47% J | 2.63% | 3.55% J | |||
Expenses net of fee waivers, if any | 2.04% J | 2.05% | 2.04% J | |||
Expenses net of all reductions | 2.04% J | 2.05% | 2.04% J | |||
Net investment income (loss) | (.86)% J | (.80)% | (.94)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 202 | $ | 199 | $ | 265 |
Portfolio turnover rate K | 114% J | 51% | 57% J |
Fidelity® Climate Action Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.89 | $ | 8.90 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .02 | .01 | |||
Net realized and unrealized gain (loss) | .45 | (.03) D | (1.11) | |||
Total from investment operations | .46 | (.01) | (1.10) | |||
Distributions from net investment income | (.01) | - E | - | |||
Total distributions | (.01) | - E | - | |||
Net asset value, end of period | $ | 9.34 | $ | 8.89 | $ | 8.90 |
Total Return F,G | 5.18% | (.08)% | (11.00)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.49% J | 1.68% | 2.66% J | |||
Expenses net of fee waivers, if any | 1.04% J | 1.05% | 1.05% J | |||
Expenses net of all reductions | 1.04% J | 1.05% | 1.05% J | |||
Net investment income (loss) | .14% J | .20% | .06% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 21,108 | $ | 21,237 | $ | 19,057 |
Portfolio turnover rate K | 114% J | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class I |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.89 | $ | 8.90 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .02 | .01 | |||
Net realized and unrealized gain (loss) | .45 | (.03) D | (1.11) | |||
Total from investment operations | .46 | (.01) | (1.10) | |||
Distributions from net investment income | (.01) | - E | - | |||
Total distributions | (.01) | - E | - | |||
Net asset value, end of period | $ | 9.34 | $ | 8.89 | $ | 8.90 |
Total Return F,G | 5.18% | (.08)% | (11.00)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.25% J | 1.55% | 2.93% J | |||
Expenses net of fee waivers, if any | 1.04% J | 1.04% | 1.04% J | |||
Expenses net of all reductions | 1.04% J | 1.04% | 1.04% J | |||
Net investment income (loss) | .15% J | .20% | .06% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 722 | $ | 300 | $ | 192 |
Portfolio turnover rate K | 114% J | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class Z |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 8.92 | $ | 8.91 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .01 | .03 | .02 | |||
Net realized and unrealized gain (loss) | .45 | (.02) D | (1.11) | |||
Total from investment operations | .46 | .01 | (1.09) | |||
Distributions from net investment income | (.01) | - E | - | |||
Total distributions | (.01) | - E | - | |||
Net asset value, end of period | $ | 9.37 | $ | 8.92 | $ | 8.91 |
Total Return F,G | 5.17% | .15% | (10.90)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.21% J | 1.40% | 3.00% J | |||
Expenses net of fee waivers, if any | .89% J | .90% | .90% J | |||
Expenses net of all reductions | .89% J | .89% | .90% J | |||
Net investment income (loss) | .30% J | .35% | .20% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 472 | $ | 270 | $ | 109 |
Portfolio turnover rate K | 114% J | 51% | 57% J |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $3,291,577 |
Gross unrealized depreciation | (949,875) |
Net unrealized appreciation (depreciation) | $2,341,702 |
Tax cost | $21,326,876 |
Short-term | $(3,190,530) |
Long-term | (1,222,386) |
Total capital loss carryforward | $(4,412,916) |
Purchases ($) | Sales ($) | |
Fidelity Climate Action Fund | 13,266,338 | 13,473,473 |
Distribution Fee | Service Fee | Total Fees | Retained by FDC | |
Class A | -% | .25% | $651 | $150 |
Class M | .25% | .25% | 1,114 | 58 |
Class C | .75% | .25% | 1,011 | 363 |
$2,776 | $571 |
Retained by FDC | |
Class A | $1,543 |
Class M | 8 |
Class CA | 4 |
$1,555 |
Amount | % of Class-Level Average Net AssetsA | |
Class A | $674 | .26 |
Class M | 421 | .19 |
Class C | 250 | .25 |
Fidelity Climate Action Fund | 26,543 | .25 |
Class I | 319 | .12 |
Class Z | 82 | .04 |
$28,289 |
% of Class-Level Average Net Assets | |
Class A | 0.2000% |
Class M | 0.1756% |
Class C | 0.2000% |
Fidelity Climate Action Fund | 0.2000% |
Class I | 0.1238% |
% of Average Net Assets | |
Fidelity Climate Action Fund | .04 |
% of Average Net Assets | |
Fidelity Climate Action Fund | 0.0354% |
Amount | |
Fidelity Climate Action Fund | $ 161 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Climate Action Fund | 612,115 | 619,666 | (15,401) |
Amount | |
Fidelity Climate Action Fund | $20 |
Expense Limitations | Reimbursement | |
Class A | 1.30% | $1,074 |
Class M | 1.55% | 798 |
Class C | 2.05% | 425 |
Fidelity Climate Action Fund | 1.05% | 46,321 |
Class I | 1.05% | 565 |
Class Z | .90% | 604 |
$49,787 |
Six months ended November 30, 2023 | Year ended May 31, 2023 | |
Fidelity Climate Action Fund | ||
Distributions to shareholders | ||
Fidelity Climate Action Fund | 26,705 | 6,404 |
Class I | 371 | 65 |
Class Z | 365 | 37 |
Total | $27,441 | $6,506 |
Shares | Shares | Dollars | Dollars | |
Six months ended November 30, 2023 | Year ended May 31, 2023 | Six months ended November 30, 2023 | Year ended May 31, 2023 | |
Fidelity Climate Action Fund | ||||
Class A | ||||
Shares sold | 15,228 | 18,907 | $140,137 | $163,388 |
Shares redeemed | (1,753) | (13,763) | (16,042) | (114,724) |
Net increase (decrease) | 13,475 | 5,144 | $124,095 | $48,664 |
Class M | ||||
Shares sold | 314 | 44,693 | $2,859 | $359,887 |
Shares redeemed | - | (10,692) | - | (91,173) |
Net increase (decrease) | 314 | 34,001 | $2,859 | $268,714 |
Class C | ||||
Shares sold | 2,292 | 3,385 | $20,117 | $29,156 |
Shares redeemed | (2,974) | (10,644) | (25,830) | (90,431) |
Net increase (decrease) | (682) | (7,259) | $(5,713) | $(61,275) |
Fidelity Climate Action Fund | ||||
Shares sold | 418,731 | 897,710 | $3,840,696 | $7,735,911 |
Reinvestment of distributions | 2,556 | 700 | 24,432 | 5,821 |
Shares redeemed | (548,151) | (651,433) | (5,070,428) | (5,591,632) |
Net increase (decrease) | (126,864) | 246,977 | $(1,205,300) | $2,150,100 |
Class I | ||||
Shares sold | 43,651 | 13,275 | $411,868 | $101,890 |
Reinvestment of distributions | 39 | 8 | 371 | 65 |
Shares redeemed | (40) | (1,163) | (348) | (9,038) |
Net increase (decrease) | 43,650 | 12,120 | $411,891 | $92,917 |
Class Z | ||||
Shares sold | 20,616 | 22,454 | $193,334 | $192,863 |
Reinvestment of distributions | 34 | 4 | 321 | 37 |
Shares redeemed | (478) | (4,407) | (4,120) | (36,993) |
Net increase (decrease) | 20,172 | 18,051 | $189,535 | $155,907 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® Climate Action Fund | ||||||||||
Class A | 1.29% | |||||||||
Actual | $ 1,000 | $ 1,049.70 | $ 6.61 | |||||||
Hypothetical-B | $ 1,000 | $ 1,018.55 | $ 6.51 | |||||||
Class M | 1.54% | |||||||||
Actual | $ 1,000 | $ 1,047.70 | $ 7.88 | |||||||
Hypothetical-B | $ 1,000 | $ 1,017.30 | $ 7.77 | |||||||
Class C | 2.04% | |||||||||
Actual | $ 1,000 | $ 1,045.90 | $ 10.43 | |||||||
Hypothetical-B | $ 1,000 | $ 1,014.80 | $ 10.28 | |||||||
Fidelity® Climate Action Fund ** | 1.04% | |||||||||
Actual | $ 1,000 | $ 1,051.80 | $ 5.33 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.80 | $ 5.25 | |||||||
Class I | 1.04% | |||||||||
Actual | $ 1,000 | $ 1,051.80 | $ 5.33 | |||||||
Hypothetical-B | $ 1,000 | $ 1,019.80 | $ 5.25 | |||||||
Class Z | .89% | |||||||||
Actual | $ 1,000 | $ 1,051.70 | $ 4.57 | |||||||
Hypothetical-B | $ 1,000 | $ 1,020.55 | $ 4.50 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Climate Action Fund | ||||||
Fidelity® Climate Action Fund | .99% | |||||
Actual | $ 5.08 | |||||
Hypothetical- B | $ 5.00 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.3 | |
NVIDIA Corp. | 5.2 | |
Alphabet, Inc. Class C | 4.4 | |
Eaton Corp. PLC | 3.1 | |
Amazon.com, Inc. | 3.0 | |
Linde PLC | 2.4 | |
Trane Technologies PLC | 2.1 | |
Apple, Inc. | 2.0 | |
Eli Lilly & Co. | 1.9 | |
UnitedHealth Group, Inc. | 1.7 | |
35.1 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.0 | |
Industrials | 15.0 | |
Financials | 13.2 | |
Health Care | 12.8 | |
Consumer Discretionary | 9.3 | |
Communication Services | 7.5 | |
Materials | 5.1 | |
Energy | 3.3 | |
Consumer Staples | 3.1 | |
Real Estate | 0.3 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 97.6% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 7.5% | |||
Diversified Telecommunication Services - 0.8% | |||
Verizon Communications, Inc. | 5,873 | 225,112 | |
Entertainment - 0.6% | |||
Netflix, Inc. (a) | 331 | 156,884 | |
Interactive Media & Services - 5.4% | |||
Alphabet, Inc. Class C (a) | 9,126 | 1,222,154 | |
Meta Platforms, Inc. Class A (a) | 808 | 264,337 | |
1,486,491 | |||
Media - 0.7% | |||
Comcast Corp. Class A | 4,796 | 200,904 | |
TOTAL COMMUNICATION SERVICES | 2,069,391 | ||
CONSUMER DISCRETIONARY - 9.3% | |||
Automobile Components - 0.5% | |||
Aptiv PLC (a) | 952 | 78,864 | |
Lear Corp. | 478 | 63,933 | |
142,797 | |||
Broadline Retail - 3.0% | |||
Amazon.com, Inc. (a) | 5,765 | 842,209 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (a) | 1,299 | 164,116 | |
Marriott International, Inc. Class A | 793 | 160,741 | |
324,857 | |||
Household Durables - 0.2% | |||
D.R. Horton, Inc. | 355 | 45,323 | |
Specialty Retail - 3.2% | |||
Lowe's Companies, Inc. | 1,077 | 214,140 | |
The Home Depot, Inc. | 1,003 | 314,430 | |
TJX Companies, Inc. | 4,003 | 352,704 | |
881,274 | |||
Textiles, Apparel & Luxury Goods - 1.2% | |||
Brunello Cucinelli SpA | 1,175 | 97,203 | |
NIKE, Inc. Class B | 2,014 | 222,084 | |
319,287 | |||
TOTAL CONSUMER DISCRETIONARY | 2,555,747 | ||
CONSUMER STAPLES - 3.1% | |||
Beverages - 0.7% | |||
The Coca-Cola Co. | 3,314 | 193,670 | |
Consumer Staples Distribution & Retail - 1.1% | |||
Target Corp. | 2,348 | 314,186 | |
Household Products - 0.6% | |||
The Clorox Co. | 1,046 | 149,944 | |
Personal Care Products - 0.7% | |||
Kenvue, Inc. | 4,440 | 90,754 | |
L'Oreal SA | 194 | 91,159 | |
181,913 | |||
TOTAL CONSUMER STAPLES | 839,713 | ||
ENERGY - 3.3% | |||
Energy Equipment & Services - 2.1% | |||
Baker Hughes Co. Class A | 7,869 | 265,579 | |
Seadrill Ltd. (a) | 3,740 | 165,981 | |
TechnipFMC PLC | 6,575 | 136,234 | |
567,794 | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Cheniere Energy, Inc. | 925 | 168,489 | |
Hess Corp. | 1,151 | 161,785 | |
330,274 | |||
TOTAL ENERGY | 898,068 | ||
FINANCIALS - 13.2% | |||
Banks - 1.2% | |||
Bank of America Corp. | 4,318 | 131,656 | |
Huntington Bancshares, Inc. | 1,418 | 15,967 | |
JPMorgan Chase & Co. | 1,248 | 194,788 | |
342,411 | |||
Capital Markets - 3.8% | |||
BlackRock, Inc. Class A | 414 | 311,009 | |
CME Group, Inc. | 574 | 125,339 | |
Deutsche Borse AG | 373 | 70,910 | |
Intercontinental Exchange, Inc. | 1,998 | 227,452 | |
KKR & Co. LP | 2,116 | 160,477 | |
Raymond James Financial, Inc. | 1,513 | 159,092 | |
1,054,279 | |||
Consumer Finance - 0.8% | |||
American Express Co. | 1,326 | 226,441 | |
Financial Services - 3.3% | |||
MasterCard, Inc. Class A | 1,061 | 439,074 | |
Visa, Inc. Class A | 1,677 | 430,452 | |
Voya Financial, Inc. | 332 | 23,741 | |
893,267 | |||
Insurance - 4.1% | |||
Arthur J. Gallagher & Co. | 1,325 | 329,925 | |
Chubb Ltd. | 706 | 161,978 | |
MetLife, Inc. | 3,397 | 216,151 | |
Progressive Corp. | 1,306 | 214,223 | |
The Travelers Companies, Inc. | 1,093 | 197,418 | |
1,119,695 | |||
TOTAL FINANCIALS | 3,636,093 | ||
HEALTH CARE - 12.8% | |||
Biotechnology - 2.1% | |||
AbbVie, Inc. | 721 | 102,663 | |
Gilead Sciences, Inc. | 2,380 | 182,308 | |
Regeneron Pharmaceuticals, Inc. (a) | 119 | 98,033 | |
Vertex Pharmaceuticals, Inc. (a) | 554 | 196,565 | |
579,569 | |||
Health Care Equipment & Supplies - 0.8% | |||
Boston Scientific Corp. (a) | 3,517 | 196,565 | |
GE Healthcare Holding LLC | 117 | 8,010 | |
204,575 | |||
Health Care Providers & Services - 4.1% | |||
Cigna Group | 1,056 | 277,601 | |
CVS Health Corp. | 2,839 | 192,910 | |
Humana, Inc. | 383 | 185,701 | |
UnitedHealth Group, Inc. | 860 | 475,554 | |
1,131,766 | |||
Life Sciences Tools & Services - 1.9% | |||
Agilent Technologies, Inc. | 1,898 | 242,564 | |
Danaher Corp. | 536 | 119,694 | |
Mettler-Toledo International, Inc. (a) | 54 | 58,964 | |
Thermo Fisher Scientific, Inc. | 222 | 110,059 | |
531,281 | |||
Pharmaceuticals - 3.9% | |||
Eli Lilly & Co. | 875 | 517,160 | |
Merck & Co., Inc. | 1,837 | 188,256 | |
Novo Nordisk A/S Series B | 1,921 | 196,258 | |
Zoetis, Inc. Class A | 977 | 172,607 | |
1,074,281 | |||
TOTAL HEALTH CARE | 3,521,472 | ||
INDUSTRIALS - 15.0% | |||
Aerospace & Defense - 0.8% | |||
Lockheed Martin Corp. | 502 | 224,781 | |
Building Products - 3.8% | |||
Carrier Global Corp. | 3,437 | 178,587 | |
Fortune Brands Home & Security, Inc. | 1,832 | 125,364 | |
The AZEK Co., Inc. (a) | 4,665 | 160,896 | |
Trane Technologies PLC | 2,567 | 578,627 | |
1,043,474 | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 74 | 5,717 | |
Construction & Engineering - 0.8% | |||
AECOM | 2,329 | 206,955 | |
Electrical Equipment - 4.4% | |||
Eaton Corp. PLC | 3,827 | 871,370 | |
Hubbell, Inc. Class B | 522 | 156,600 | |
Prysmian SpA | 4,959 | 190,707 | |
1,218,677 | |||
Ground Transportation - 1.1% | |||
Uber Technologies, Inc. (a) | 5,176 | 291,823 | |
Industrial Conglomerates - 1.5% | |||
General Electric Co. | 1,782 | 217,048 | |
Honeywell International, Inc. | 1,053 | 206,304 | |
423,352 | |||
Machinery - 2.2% | |||
Caterpillar, Inc. | 1,081 | 271,028 | |
Cummins, Inc. | 908 | 203,537 | |
Pentair PLC | 2,000 | 129,080 | |
603,645 | |||
Professional Services - 0.4% | |||
Equifax, Inc. | 535 | 116,475 | |
TOTAL INDUSTRIALS | 4,134,899 | ||
INFORMATION TECHNOLOGY - 28.0% | |||
Electronic Equipment, Instruments & Components - 1.0% | |||
Jabil, Inc. | 2,318 | 267,312 | |
IT Services - 2.3% | |||
Accenture PLC Class A | 1,109 | 369,452 | |
Shopify, Inc. Class A (a) | 3,730 | 271,619 | |
641,071 | |||
Semiconductors & Semiconductor Equipment - 10.1% | |||
Analog Devices, Inc. | 704 | 129,100 | |
Applied Materials, Inc. | 1,179 | 176,591 | |
Lam Research Corp. | 300 | 214,776 | |
Marvell Technology, Inc. | 1,644 | 91,620 | |
MKS Instruments, Inc. | 247 | 20,390 | |
NVIDIA Corp. | 3,080 | 1,440,516 | |
NXP Semiconductors NV | 471 | 96,122 | |
ON Semiconductor Corp. (a) | 1,484 | 105,854 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 4,166 | 405,393 | |
Universal Display Corp. | 650 | 109,980 | |
2,790,342 | |||
Software - 12.6% | |||
Adobe, Inc. (a) | 365 | 223,019 | |
HubSpot, Inc. (a) | 353 | 174,357 | |
Intuit, Inc. | 456 | 260,586 | |
Microsoft Corp. | 6,721 | 2,546,650 | |
Oracle Corp. | 2,352 | 273,326 | |
3,477,938 | |||
Technology Hardware, Storage & Peripherals - 2.0% | |||
Apple, Inc. | 2,854 | 542,117 | |
TOTAL INFORMATION TECHNOLOGY | 7,718,780 | ||
MATERIALS - 5.1% | |||
Chemicals - 2.4% | |||
Linde PLC | 1,645 | 680,652 | |
Containers & Packaging - 1.4% | |||
Aptargroup, Inc. | 632 | 80,194 | |
Avery Dennison Corp. | 151 | 29,370 | |
O-I Glass, Inc. (a) | 18,320 | 270,403 | |
379,967 | |||
Metals & Mining - 1.3% | |||
Gold Fields Ltd. sponsored ADR | 7,648 | 116,938 | |
Newmont Corp. | 5,848 | 235,031 | |
351,969 | |||
TOTAL MATERIALS | 1,412,588 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.3% | |||
Extra Space Storage, Inc. | 186 | 24,212 | |
SL Green Realty Corp. | 918 | 33,571 | |
Weyerhaeuser Co. | 485 | 15,205 | |
72,988 | |||
TOTAL COMMON STOCKS (Cost $25,034,273) | 26,859,739 | ||
Money Market Funds - 3.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $971,565) | 971,370 | 971,565 | |
TOTAL INVESTMENT IN SECURITIES - 101.1% (Cost $26,005,838) | 27,831,304 |
NET OTHER ASSETS (LIABILITIES) - (1.1)% | (300,812) |
NET ASSETS - 100.0% | 27,530,492 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 253,749 | 8,762,238 | 8,044,422 | 15,647 | - | - | 971,565 | 0.0% |
Total | 253,749 | 8,762,238 | 8,044,422 | 15,647 | - | - | 971,565 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,069,391 | 2,069,391 | - | - |
Consumer Discretionary | 2,555,747 | 2,555,747 | - | - |
Consumer Staples | 839,713 | 748,554 | 91,159 | - |
Energy | 898,068 | 898,068 | - | - |
Financials | 3,636,093 | 3,565,183 | 70,910 | - |
Health Care | 3,521,472 | 3,325,214 | 196,258 | - |
Industrials | 4,134,899 | 4,134,899 | - | - |
Information Technology | 7,718,780 | 7,718,780 | - | - |
Materials | 1,412,588 | 1,412,588 | - | - |
Real Estate | 72,988 | 72,988 | - | - |
Money Market Funds | 971,565 | 971,565 | - | - |
Total Investments in Securities: | 27,831,304 | 27,472,977 | 358,327 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $25,034,273) | $ | 26,859,739 | ||
Fidelity Central Funds (cost $971,565) | 971,565 | |||
Total Investment in Securities (cost $26,005,838) | $ | 27,831,304 | ||
Receivable for fund shares sold | 236,597 | |||
Dividends receivable | 24,942 | |||
Distributions receivable from Fidelity Central Funds | 5,109 | |||
Prepaid expenses | 9 | |||
Receivable from investment adviser for expense reductions | 5,933 | |||
Other receivables | 48 | |||
Total assets | 28,103,942 | |||
Liabilities | ||||
Payable for investments purchased | $ | 524,306 | ||
Payable for fund shares redeemed | 17,229 | |||
Accrued management fee | 9,832 | |||
Other payables and accrued expenses | 22,083 | |||
Total Liabilities | 573,450 | |||
Net Assets | $ | 27,530,492 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 25,901,737 | ||
Total accumulated earnings (loss) | 1,628,755 | |||
Net Assets | $ | 27,530,492 | ||
Net Asset Value, offering price and redemption price per share ($27,530,492 ÷ 2,671,117 shares) | $ | 10.31 |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 78,903 | ||
Income from Fidelity Central Funds | 15,647 | |||
Total Income | 94,550 | |||
Expenses | ||||
Management fee | $ | 31,916 | ||
Custodian fees and expenses | 6,593 | |||
Independent trustees' fees and expenses | 23 | |||
Registration fees | 5,564 | |||
Audit | 21,550 | |||
Legal | 3 | |||
Miscellaneous | 12 | |||
Total expenses before reductions | 65,661 | |||
Expense reductions | (29,613) | |||
Total expenses after reductions | 36,048 | |||
Net Investment income (loss) | 58,502 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (139,148) | |||
Foreign currency transactions | 22 | |||
Total net realized gain (loss) | (139,126) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,568,947 | |||
Assets and liabilities in foreign currencies | (4) | |||
Total change in net unrealized appreciation (depreciation) | 1,568,943 | |||
Net gain (loss) | 1,429,817 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,488,319 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 58,502 | $ | 31,080 |
Net realized gain (loss) | (139,126) | (112,839) | ||
Change in net unrealized appreciation (depreciation) | 1,568,943 | 321,133 | ||
Net increase (decrease) in net assets resulting from operations | 1,488,319 | 239,374 | ||
Distributions to shareholders | (21,611) | (11,410) | ||
Share transactions | ||||
Proceeds from sales of shares | 20,765,789 | 5,686,023 | ||
Reinvestment of distributions | 20,052 | 11,161 | ||
Cost of shares redeemed | (1,156,166) | (427,453) | ||
Net increase (decrease) in net assets resulting from share transactions | 19,629,675 | 5,269,731 | ||
Total increase (decrease) in net assets | 21,096,383 | 5,497,695 | ||
Net Assets | ||||
Beginning of period | 6,434,109 | 936,414 | ||
End of period | $ | 27,530,492 | $ | 6,434,109 |
Other Information | ||||
Shares | ||||
Sold | 2,097,982 | 631,258 | ||
Issued in reinvestment of distributions | 1,974 | 1,237 | ||
Redeemed | (114,701) | (46,883) | ||
Net increase (decrease) | 1,985,255 | 585,612 | ||
Fidelity® SAI Sustainable Future Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.38 | $ | 9.34 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .05 | .09 | .01 | |||
Net realized and unrealized gain (loss) | .91 | (.01) D | (.67) | |||
Total from investment operations | .96 | .08 | (.66) | |||
Distributions from net investment income | (.03) | (.04) | - | |||
Total distributions | (.03) | (.04) | - | |||
Net asset value, end of period | $ | 10.31 | $ | 9.38 | $ | 9.34 |
Total Return E,F | 10.19% | .90% | (6.60)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.07% I | 3.41% | 7.05% I,J | |||
Expenses net of fee waivers, if any | .59% I,K | .59% | .60% I,J | |||
Expenses net of all reductions | .59% I | .59% | .60% I,J | |||
Net investment income (loss) | .96% I | 1.04% | .53% I,J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 27,530 | $ | 6,434 | $ | 936 |
Portfolio turnover rate L | 22% I | 43% | 1% M |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $2,187,542 |
Gross unrealized depreciation | (398,726) |
Net unrealized appreciation (depreciation) | $1,788,816 |
Tax cost | $26,042,488 |
Short-term | $(71,191) |
Long-term | (9,149) |
Total capital loss carryforward | $(80,340) |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Future Fund | 20,592,096 | 1,359,810 |
Amount | |
Fidelity SAI Sustainable Future Fund | $164 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity SAI Sustainable Future Fund | 395,340 | 5,700 | (1,080) |
Amount | |
Fidelity SAI Sustainable Future Fund | $6 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® SAI Sustainable Future Fund | .59% | |||||||||
Actual | $ 1,000 | $ 1,101.90 | $ 3.10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.05 | $ 2.98 | |||||||
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.1 | |
NVIDIA Corp. | 3.8 | |
Alphabet, Inc. Class A | 3.2 | |
Salesforce, Inc. | 3.2 | |
Apple, Inc. | 3.1 | |
Amazon.com, Inc. | 3.0 | |
Intuit, Inc. | 2.8 | |
The Travelers Companies, Inc. | 2.3 | |
Procter & Gamble Co. | 2.2 | |
Accenture PLC Class A | 2.1 | |
34.8 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 28.2 | |
Health Care | 12.6 | |
Financials | 11.7 | |
Consumer Discretionary | 10.7 | |
Communication Services | 9.3 | |
Industrials | 9.3 | |
Materials | 4.8 | |
Consumer Staples | 4.1 | |
Energy | 3.8 | |
Utilities | 2.1 | |
Real Estate | 1.9 | |
Asset Allocation (% of Fund's net assets) |
Common Stocks - 98.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.3% | |||
Entertainment - 4.1% | |||
Netflix, Inc. (a) | 1,607 | 761,670 | |
The Walt Disney Co. | 8,237 | 763,488 | |
1,525,158 | |||
Interactive Media & Services - 3.2% | |||
Alphabet, Inc. Class A (a) | 8,901 | 1,179,650 | |
Media - 2.0% | |||
Comcast Corp. Class A | 10,002 | 418,984 | |
Interpublic Group of Companies, Inc. | 10,539 | 323,969 | |
742,953 | |||
TOTAL COMMUNICATION SERVICES | 3,447,761 | ||
CONSUMER DISCRETIONARY - 10.7% | |||
Automobile Components - 0.6% | |||
Aptiv PLC (a) | 2,730 | 226,153 | |
Automobiles - 1.0% | |||
General Motors Co. | 6,794 | 214,690 | |
Tesla, Inc. (a) | 607 | 145,729 | |
360,419 | |||
Broadline Retail - 3.0% | |||
Amazon.com, Inc. (a) | 7,672 | 1,120,802 | |
Diversified Consumer Services - 0.7% | |||
Adtalem Global Education, Inc. (a) | 4,217 | 240,242 | |
Hotels, Restaurants & Leisure - 1.4% | |||
Marriott International, Inc. Class A | 2,621 | 531,277 | |
Household Durables - 0.7% | |||
Taylor Morrison Home Corp. (a) | 5,708 | 257,431 | |
Specialty Retail - 1.4% | |||
Lowe's Companies, Inc. | 2,543 | 505,625 | |
Textiles, Apparel & Luxury Goods - 1.9% | |||
LVMH Moet Hennessy Louis Vuitton SE | 621 | 474,996 | |
Tapestry, Inc. | 7,332 | 232,204 | |
707,200 | |||
TOTAL CONSUMER DISCRETIONARY | 3,949,149 | ||
CONSUMER STAPLES - 4.1% | |||
Consumer Staples Distribution & Retail - 0.6% | |||
Sprouts Farmers Market LLC (a) | 4,983 | 214,668 | |
Food Products - 0.6% | |||
Darling Ingredients, Inc. (a) | 3,807 | 167,013 | |
Nomad Foods Ltd. (a) | 3,033 | 48,983 | |
215,996 | |||
Household Products - 2.2% | |||
Procter & Gamble Co. | 5,399 | 828,854 | |
Personal Care Products - 0.7% | |||
Estee Lauder Companies, Inc. Class A | 1,993 | 254,486 | |
TOTAL CONSUMER STAPLES | 1,514,004 | ||
ENERGY - 3.8% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 15,153 | 511,414 | |
Oil, Gas & Consumable Fuels - 2.4% | |||
Cheniere Energy, Inc. | 2,199 | 400,548 | |
Equinor ASA | 9,446 | 301,793 | |
Occidental Petroleum Corp. | 3,353 | 198,330 | |
900,671 | |||
TOTAL ENERGY | 1,412,085 | ||
FINANCIALS - 11.7% | |||
Banks - 1.8% | |||
Bank of America Corp. | 21,746 | 663,036 | |
Capital Markets - 4.8% | |||
BlackRock, Inc. Class A | 798 | 599,482 | |
Moody's Corp. | 1,948 | 710,942 | |
Northern Trust Corp. | 6,070 | 481,048 | |
1,791,472 | |||
Consumer Finance - 1.5% | |||
American Express Co. | 3,274 | 559,101 | |
Financial Services - 1.3% | |||
MasterCard, Inc. Class A | 1,173 | 485,423 | |
Insurance - 2.3% | |||
The Travelers Companies, Inc. | 4,630 | 836,271 | |
TOTAL FINANCIALS | 4,335,303 | ||
HEALTH CARE - 12.6% | |||
Biotechnology - 1.1% | |||
Moderna, Inc. (a) | 1,055 | 81,974 | |
Vertex Pharmaceuticals, Inc. (a) | 962 | 341,327 | |
423,301 | |||
Health Care Providers & Services - 4.0% | |||
Centene Corp. (a) | 5,405 | 398,240 | |
Cigna Group | 2,741 | 720,554 | |
CVS Health Corp. | 5,377 | 365,367 | |
1,484,161 | |||
Life Sciences Tools & Services - 3.4% | |||
Danaher Corp. | 3,317 | 740,719 | |
ICON PLC (a) | 1,905 | 508,521 | |
1,249,240 | |||
Pharmaceuticals - 4.1% | |||
Merck & Co., Inc. | 7,051 | 722,586 | |
UCB SA | 4,081 | 301,357 | |
Zoetis, Inc. Class A | 2,702 | 477,362 | |
1,501,305 | |||
TOTAL HEALTH CARE | 4,658,007 | ||
INDUSTRIALS - 9.3% | |||
Air Freight & Logistics - 1.0% | |||
United Parcel Service, Inc. Class B | 2,494 | 378,115 | |
Building Products - 0.8% | |||
Johnson Controls International PLC | 5,931 | 313,157 | |
Commercial Services & Supplies - 0.2% | |||
Veralto Corp. | 1,085 | 83,816 | |
Electrical Equipment - 2.7% | |||
Acuity Brands, Inc. | 2,141 | 383,796 | |
Generac Holdings, Inc. (a) | 1,433 | 167,761 | |
Prysmian SpA | 4,901 | 188,476 | |
Regal Rexnord Corp. | 2,027 | 242,835 | |
982,868 | |||
Machinery - 2.3% | |||
Deere & Co. | 887 | 323,232 | |
Energy Recovery, Inc. (a) | 5,204 | 99,188 | |
Ingersoll Rand, Inc. | 5,816 | 415,437 | |
837,857 | |||
Professional Services - 2.3% | |||
KBR, Inc. | 11,579 | 598,287 | |
Manpower, Inc. | 3,198 | 237,324 | |
835,611 | |||
TOTAL INDUSTRIALS | 3,431,424 | ||
INFORMATION TECHNOLOGY - 28.2% | |||
IT Services - 2.1% | |||
Accenture PLC Class A | 2,391 | 796,538 | |
Semiconductors & Semiconductor Equipment - 6.2% | |||
Advanced Micro Devices, Inc. (a) | 3,831 | 464,164 | |
NVIDIA Corp. | 2,989 | 1,397,955 | |
ON Semiconductor Corp. (a) | 5,903 | 421,061 | |
2,283,180 | |||
Software - 16.8% | |||
Adobe, Inc. (a) | 1,071 | 654,392 | |
Intuit, Inc. | 1,797 | 1,026,914 | |
Microsoft Corp. | 8,910 | 3,376,085 | |
Salesforce, Inc. (a) | 4,682 | 1,179,396 | |
6,236,787 | |||
Technology Hardware, Storage & Peripherals - 3.1% | |||
Apple, Inc. | 5,995 | 1,138,750 | |
TOTAL INFORMATION TECHNOLOGY | 10,455,255 | ||
MATERIALS - 4.8% | |||
Chemicals - 2.0% | |||
Linde PLC | 1,749 | 723,684 | |
Containers & Packaging - 2.8% | |||
Avery Dennison Corp. | 3,366 | 654,687 | |
Crown Holdings, Inc. | 4,423 | 380,422 | |
1,035,109 | |||
TOTAL MATERIALS | 1,758,793 | ||
REAL ESTATE - 1.9% | |||
Equity Real Estate Investment Trusts (REITs) - 1.9% | |||
Prologis (REIT), Inc. | 6,102 | 701,303 | |
UTILITIES - 2.1% | |||
Electric Utilities - 1.0% | |||
NextEra Energy, Inc. | 6,559 | 383,767 | |
Independent Power and Renewable Electricity Producers - 0.6% | |||
Clearway Energy, Inc. Class C | 8,125 | 202,881 | |
Water Utilities - 0.5% | |||
American Water Works Co., Inc. | 1,523 | 200,792 | |
TOTAL UTILITIES | 787,440 | ||
TOTAL COMMON STOCKS (Cost $34,333,350) | 36,450,524 | ||
Money Market Funds - 3.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.40% (b) (Cost $1,310,944) | 1,310,682 | 1,310,944 | |
TOTAL INVESTMENT IN SECURITIES - 102.0% (Cost $35,644,294) | 37,761,468 |
NET OTHER ASSETS (LIABILITIES) - (2.0)% | (754,048) |
NET ASSETS - 100.0% | 37,007,420 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.40% | 268,489 | 11,505,568 | 10,463,113 | 17,112 | - | - | 1,310,944 | 0.0% |
Total | 268,489 | 11,505,568 | 10,463,113 | 17,112 | - | - | 1,310,944 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 3,447,761 | 3,447,761 | - | - |
Consumer Discretionary | 3,949,149 | 3,949,149 | - | - |
Consumer Staples | 1,514,004 | 1,514,004 | - | - |
Energy | 1,412,085 | 1,110,292 | 301,793 | - |
Financials | 4,335,303 | 4,335,303 | - | - |
Health Care | 4,658,007 | 4,658,007 | - | - |
Industrials | 3,431,424 | 3,431,424 | - | - |
Information Technology | 10,455,255 | 10,455,255 | - | - |
Materials | 1,758,793 | 1,758,793 | - | - |
Real Estate | 701,303 | 701,303 | - | - |
Utilities | 787,440 | 787,440 | - | - |
Money Market Funds | 1,310,944 | 1,310,944 | - | - |
Total Investments in Securities: | 37,761,468 | 37,459,675 | 301,793 | - |
Statement of Assets and Liabilities | ||||
November 30, 2023 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $34,333,350) | $ | 36,450,524 | ||
Fidelity Central Funds (cost $1,310,944) | 1,310,944 | |||
Total Investment in Securities (cost $35,644,294) | $ | 37,761,468 | ||
Receivable for fund shares sold | 317,140 | |||
Dividends receivable | 31,656 | |||
Distributions receivable from Fidelity Central Funds | 5,420 | |||
Prepaid expenses | 11 | |||
Receivable from investment adviser for expense reductions | 8,120 | |||
Other receivables | 49 | |||
Total assets | 38,123,864 | |||
Liabilities | ||||
Payable for investments purchased | $ | 1,057,180 | ||
Payable for fund shares redeemed | 21,276 | |||
Accrued management fee | 13,040 | |||
Other payables and accrued expenses | 24,948 | |||
Total Liabilities | 1,116,444 | |||
Net Assets | $ | 37,007,420 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 34,947,801 | ||
Total accumulated earnings (loss) | 2,059,619 | |||
Net Assets | $ | 37,007,420 | ||
Net Asset Value, offering price and redemption price per share ($37,007,420 ÷ 3,600,915 shares) | $ | 10.28 |
Statement of Operations | ||||
Six months ended November 30, 2023 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 106,117 | ||
Income from Fidelity Central Funds | 17,112 | |||
Total Income | 123,229 | |||
Expenses | ||||
Management fee | $ | 41,602 | ||
Custodian fees and expenses | 10,240 | |||
Independent trustees' fees and expenses | 30 | |||
Registration fees | 6,198 | |||
Audit | 21,551 | |||
Legal | 4 | |||
Miscellaneous | 16 | |||
Total expenses before reductions | 79,641 | |||
Expense reductions | (32,602) | |||
Total expenses after reductions | 47,039 | |||
Net Investment income (loss) | 76,190 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (40,301) | |||
Foreign currency transactions | 243 | |||
Total net realized gain (loss) | (40,058) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,635,442 | |||
Assets and liabilities in foreign currencies | (32) | |||
Total change in net unrealized appreciation (depreciation) | 1,635,410 | |||
Net gain (loss) | 1,595,352 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,671,542 |
Statement of Changes in Net Assets | ||||
Six months ended November 30, 2023 (Unaudited) | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 76,190 | $ | 38,390 |
Net realized gain (loss) | (40,058) | (85,243) | ||
Change in net unrealized appreciation (depreciation) | 1,635,410 | 550,925 | ||
Net increase (decrease) in net assets resulting from operations | 1,671,542 | 504,072 | ||
Distributions to shareholders | (21,863) | (18,138) | ||
Share transactions | ||||
Proceeds from sales of shares | 28,545,317 | 7,183,631 | ||
Reinvestment of distributions | 20,127 | 17,819 | ||
Cost of shares redeemed | (1,252,062) | (570,765) | ||
Net increase (decrease) in net assets resulting from share transactions | 27,313,382 | 6,630,685 | ||
Total increase (decrease) in net assets | 28,963,061 | 7,116,619 | ||
Net Assets | ||||
Beginning of period | 8,044,359 | 927,740 | ||
End of period | $ | 37,007,420 | $ | 8,044,359 |
Other Information | ||||
Shares | ||||
Sold | 2,886,512 | 796,395 | ||
Issued in reinvestment of distributions | 1,943 | 1,996 | ||
Redeemed | (124,895) | (61,367) | ||
Net increase (decrease) | 2,763,560 | 737,024 | ||
Fidelity® SAI Sustainable U.S. Equity Fund |
Six months ended (Unaudited) November 30, 2023 | Years ended May 31, 2023 | 2022 A | ||||
Selected Per-Share Data | ||||||
Net asset value, beginning of period | $ | 9.61 | $ | 9.25 | $ | 10.00 |
Income from Investment Operations | ||||||
Net investment income (loss) B,C | .05 | .10 D | .01 | |||
Net realized and unrealized gain (loss) | .64 | .32 | (.76) | |||
Total from investment operations | .69 | .42 | (.75) | |||
Distributions from net investment income | (.02) | (.06) | - | |||
Total distributions | (.02) | (.06) | - | |||
Net asset value, end of period | $ | 10.28 | $ | 9.61 | $ | 9.25 |
Total Return E,F | 7.18% | 4.53% | (7.50)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.00% I | 3.03% | 7.28% I,J | |||
Expenses net of fee waivers, if any | .59% I | .59% | .60% I,J | |||
Expenses net of all reductions | .59% I | .59% | .60% I,J | |||
Net investment income (loss) | .95% I | 1.07% D | .73% I,J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 37,007 | $ | 8,044 | $ | 928 |
Portfolio turnover rate K | 26% I | 35% | 2% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $2,910,967 |
Gross unrealized depreciation | (844,045) |
Net unrealized appreciation (depreciation) | $2,066,922 |
Tax cost | $35,694,546 |
Short-term | $(41,060) |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 29,195,557 | 2,202,614 |
Amount | |
Fidelity SAI Sustainable U.S. Equity Fund | $190 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 534,070 | 311,945 | 18,393 |
Amount | |
Fidelity SAI Sustainable U.S. Equity Fund | $8 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (June 1, 2023 to November 30, 2023). |
Annualized Expense Ratio- A | Beginning Account Value June 1, 2023 | Ending Account Value November 30, 2023 | Expenses Paid During Period- C June 1, 2023 to November 30, 2023 | |||||||
Fidelity® SAI Sustainable U.S. Equity Fund | .59% | |||||||||
Actual | $ 1,000 | $ 1,071.80 | $ 3.06 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.05 | $ 2.98 | |||||||
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Summer Street Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Summer Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a) Not applicable.
(b) Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Summer Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | January 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | January 22, 2024 |