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, Massachusetts 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: | May 31, 2024 |
Item 1.
Reports to Stockholders
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity Advisor® Climate Action Fund Class Z : FCLZX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class Z | $ 104 | 0.90% |
Class Z | $10,000 | $8,910 | $8,923 | $11,592 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class Z | 29.91% | 5.12% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913332.100 6390-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® SAI Sustainable Sector Fund Fidelity® SAI Sustainable Sector Fund : FIDJX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® SAI Sustainable Sector Fund | $ 57 | 0.49% |
- •U.S. equities gained considerably for the 12 months ending May 31, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable environment for higher-risk assets, stocks continued their late-2023 momentum, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor versus the fund's broad-market Dow Jones benchmark, especially within the information technology, industrials and communication services sectors.
- •The fund's overweight stake in Nvidia gained 190% and was the top individual relative contributor. Other notable relative contributors included overweight holdings in Trane Technologies (+104%) and Meta Platforms (+77%). We increased our investment in all three companies this period; Nvidia and Meta Platforms were among the fund's biggest holdings.
- •In contrast, by sector, the biggest detractor from performance versus the benchmark was security selection in materials.
- •Avoiding benchmark component Broadcom, which gained 68% during the period, was the largest individual relative detractor. Other relative detractors included overweight positions in SolarEdge Technologies (-83%) and Penumbra (-38%). This period we increased our positions in SolarEdge Technologies and Penumbra.
- •Notable changes in positioning include decreased exposure to health care and consumer staples, and a higher allocation to information technology.
- •Application of FMR's environmental, social, and governance (ESG) ratings process and/or its sustainable investing exclusion criteria may affect the fund's exposure to certain issuers, sectors, regions and countries, as well as the fund's performance.
Fidelity® SAI Sustainable Sector Fund | $10,000 | $9,350 | $9,832 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,431 | $9,669 |
Dow Jones U.S. Total Stock Market Index℠ | $10,000 | $9,365 | $9,545 |
2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® SAI Sustainable Sector Fund | 30.43% | 12.38% |
MSCI USA IMI ESG Leaders Index | 30.10% | 11.36% |
Dow Jones U.S. Total Stock Market Index℠ | 27.68% | 9.72% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $131,385,720 | |
Number of Holdings | 238 | |
Total Advisory Fee | $219,107 | |
Portfolio Turnover | 162% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 29.0 | |
Financials | 12.5 | |
Health Care | 11.9 | |
Consumer Discretionary | 10.4 | |
Communication Services | 9.8 | |
Industrials | 8.4 | |
Consumer Staples | 5.7 | |
Materials | 2.9 | |
Energy | 2.8 | |
Utilities | 2.4 | |
Real Estate | 2.3 | |
Common Stocks | 98.1 |
Domestic Equity Funds | 0.9 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
Canada | 1.0 |
Taiwan | 0.8 |
Netherlands | 0.5 |
United Kingdom | 0.5 |
Portugal | 0.3 |
Japan | 0.3 |
Singapore | 0.3 |
Ghana | 0.2 |
Others | 1.2 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 8.8 | |
NVIDIA Corp | 7.3 | |
Apple Inc | 4.5 | |
Amazon.com Inc | 4.3 | |
Alphabet Inc Class A | 3.8 | |
Meta Platforms Inc Class A | 2.9 | |
JPMorgan Chase & Co | 1.6 | |
Unitedhealth Group Inc | 1.5 | |
Boston Scientific Corp | 1.4 | |
Visa Inc Class A | 1.2 | |
37.3 | ||
The fund's contractual management fee was reduced during the reporting period. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913340.100 6551-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Agricultural Productivity Fund Fidelity® Agricultural Productivity Fund : FARMX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Agricultural Productivity Fund | $ 95 | 0.95% |
Fidelity® Agricultural Productivity Fund | $10,000 | $10,910 | $18,986 | $21,880 | $18,454 |
MSCI ACWI Select Agriculture Producers IMI 25/50 Index | $10,000 | $11,063 | $19,018 | $21,496 | $17,778 |
MSCI ACWI (All Country World Index) Index | $10,000 | $10,918 | $15,538 | $14,529 | $14,708 |
2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® Agricultural Productivity Fund | 0.48% | 16.14% |
MSCI ACWI Select Agriculture Producers IMI 25/50 Index | 2.79% | 15.73% |
MSCI ACWI (All Country World Index) Index | 23.98% | 15.67% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $51,964,601 | |
Number of Holdings | 26 | |
Total Advisory Fee | $470,411 | |
Portfolio Turnover | 12% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Consumer Staples | 36.7 | |
Materials | 32.3 | |
Industrials | 29.6 | |
Health Care | 0.7 | |
Common Stocks | 99.3 |
Short-Term Investments and Net Other Assets (Liabilities) | 0.7 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 76.2 |
Canada | 8.8 |
United Kingdom | 3.3 |
Faroe Islands | 2.7 |
Netherlands | 2.0 |
Saudi Arabia | 1.8 |
Japan | 1.3 |
Indonesia | 1.1 |
Ireland | 1.1 |
Others | 1.7 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Deere & Co | 24.1 | |
Corteva Inc | 9.9 | |
Nutrien Ltd | 8.8 | |
Archer-Daniels-Midland Co | 7.1 | |
CF Industries Holdings Inc | 4.9 | |
Lamb Weston Holdings Inc | 4.9 | |
Bunge Global SA | 4.9 | |
Ingredion Inc | 4.6 | |
Toro Co/The | 3.6 | |
Cranswick PLC | 3.3 | |
76.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913323.100 6041-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® SAI Sustainable Future Fund Fidelity® SAI Sustainable Future Fund : FIDHX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® SAI Sustainable Future Fund | $ 69 | 0.59% |
- •U.S. equities gained considerably for the 12 months ending May 31, 2024, driven by resilient corporate profits, a frenzy over generative artificial intelligence and the Federal Reserve's likely pivot to cutting interest rates later this year. Amid this favorable backdrop for higher-risk assets, stocks continued their late-2023 momentum and ended May just shy of a record close, powered by signs of continued U.S. economic strength.
- •Against this backdrop, security selection was the primary contributor versus the benchmark, led by the industrials sector, especially capital goods firms. An overweight and investment choices in information technology also helped, particularly in the semiconductors and semiconductor equipment industry. Favorable security selection in health care was another plus.
- •The top individual relative contributor was an outsized stake in Nvidia (+188%), one of the portfolio's biggest holdings that we increased exposure to this period. An overweight in Eaton (+92%), another large holding that we added to this period, helped as well. A larger-than-benchmark position in Trane Technologies (+102%), further contributed. We increased our position in Trane Technologies, making it a top-10 holding on May 31.
- •In contrast, the biggest detractor from performance versus the benchmark was security selection in materials, followed by the portfolio's comparatively light exposure to energy companies. Stock picking in communication services also hurt. Lastly, the fund's position in cash was a notable detractor.
- •The fund's overweight stake in O-I Glass returned -40% and was the biggest individual relative detractor. An underweight in Meta Platforms (+77%), a new holding established this period, was another negative. Outsized exposure to Newmont (-14%) also hurt, though we sold the stock prior to period end.
- •Notable changes in positioning include decreased exposure to the materials sector and a higher allocation to industrials.
- •Application of FMR's environmental, social, and governance (ESG) ratings process and/or its sustainable investing exclusion criteria may affect the Fund's exposure to certain issuers, sectors, regions, and countries and may affect the Fund's performance.
Fidelity® SAI Sustainable Future Fund | $10,000 | $9,340 | $9,424 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,431 | $9,669 |
Russell 3000® Index | $10,000 | $9,374 | $9,564 |
2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® SAI Sustainable Future Fund | 34.13% | 11.62% |
MSCI USA IMI ESG Leaders Index | 30.10% | 11.36% |
Russell 3000® Index | 27.58% | 9.79% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $78,591,501 | |
Number of Holdings | 122 | |
Total Advisory Fee | $167,014 | |
Portfolio Turnover | 48% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 29.4 | |
Financials | 16.4 | |
Industrials | 15.5 | |
Health Care | 11.1 | |
Consumer Discretionary | 8.4 | |
Communication Services | 7.1 | |
Materials | 2.7 | |
Consumer Staples | 2.5 | |
Energy | 2.0 | |
Utilities | 1.1 | |
Real Estate | 0.4 | |
Common Stocks | 96.6 |
Short-Term Investments and Net Other Assets (Liabilities) | 3.4 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.2 |
Taiwan | 1.9 |
United Kingdom | 1.4 |
Italy | 1.0 |
Norway | 0.7 |
Canada | 0.3 |
Netherlands | 0.3 |
China | 0.2 |
Denmark | 0.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 8.2 | |
NVIDIA Corp | 7.3 | |
Alphabet Inc Class C | 4.1 | |
Amazon.com Inc | 3.6 | |
Eaton Corp PLC | 3.3 | |
Eli Lilly & Co | 2.1 | |
Taiwan Semiconductor Manufacturing Co Ltd ADR | 1.9 | |
Trane Technologies PLC | 1.9 | |
Micron Technology Inc | 1.8 | |
Apollo Global Management Inc | 1.8 | |
36.0 | ||
The fund's contractual management fee was reduced during the reporting period. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913339.100 6550-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity Advisor® Sustainable U.S. Equity Fund Class Z : FSEWX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class Z | $ 85 | 0.75% |
Class Z | $10,000 | $9,452 | $9,853 | $12,497 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class Z | 26.83% | 7.82% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913338.100 6396-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity Advisor® Sustainable U.S. Equity Fund Class I : FSEQX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class I | $ 102 | 0.90% |
Class I | $10,000 | $9,442 | $9,833 | $12,446 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class I | 26.58% | 7.67% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913337.100 6395-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity Advisor® Climate Action Fund Class C : FCALX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class C | $ 234 | 2.05% |
Class C | $10,000 | $8,820 | $8,720 | $11,200 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class C (incl. contingent deferred sales charge) | 27.44% | 3.90% |
Class C | 28.44% | 3.90% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913329.100 6387-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity Advisor® Sustainable U.S. Equity Fund Class M : FSEPX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class M | $ 158 | 1.40% |
Class M | $9,650 | $9,061 | $9,393 | $11,831 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class M (incl. 3.50% sales charge) | 21.54% | 5.84% |
Class M (without 3.50% sales charge) | 25.95% | 7.12% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913336.100 6394-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity Advisor® Climate Action Fund Class I : FCAUX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class I | $ 121 | 1.05% |
Class I | $10,000 | $8,900 | $8,893 | $11,542 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class I | 29.79% | 4.96% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913331.100 6389-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity® Sustainable U.S. Equity Fund : FSEBX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Sustainable U.S. Equity Fund | $ 102 | 0.90% |
Fidelity® Sustainable U.S. Equity Fund | $10,000 | $9,442 | $9,833 | $12,446 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® Sustainable U.S. Equity Fund | 26.58% | 7.67% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913333.100 6391-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Water Sustainability Fund Fidelity® Water Sustainability Fund : FLOWX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Water Sustainability Fund | $ 107 | 0.95% |
Fidelity® Water Sustainability Fund | $10,000 | $10,750 | $15,071 | $13,950 | $14,363 |
S&P® Global Water Index | $10,000 | $10,799 | $15,931 | $14,619 | $15,056 |
MSCI ACWI (All Country World Index) Index | $10,000 | $10,918 | $15,538 | $14,529 | $14,708 |
2020 | 2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® Water Sustainability Fund | 26.32% | 15.53% |
S&P® Global Water Index | 20.29% | 15.48% |
MSCI ACWI (All Country World Index) Index | 23.98% | 15.67% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $101,577,753 | |
Number of Holdings | 31 | |
Total Advisory Fee | $646,514 | |
Portfolio Turnover | 52% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Industrials | 66.8 | |
Utilities | 27.4 | |
Information Technology | 2.5 | |
Materials | 2.3 | |
Common Stocks | 99.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 69.0 |
United Kingdom | 14.0 |
Switzerland | 5.4 |
Canada | 4.3 |
Brazil | 4.3 |
Japan | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Pentair PLC | 8.2 | |
United Utilities Group PLC | 7.3 | |
Advanced Drainage Systems Inc | 5.8 | |
Severn Trent PLC | 5.6 | |
Ingersoll Rand Inc | 5.4 | |
Essential Utilities Inc | 5.1 | |
Mueller Water Products Inc | 4.9 | |
Tetra Tech Inc | 4.9 | |
Chart Industries Inc | 4.7 | |
Core & Main Inc Class A | 4.5 | |
56.4 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a management fee rate that may vary by class. The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913324.100 6042-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® SAI Sustainable U.S. Equity Fund Fidelity® SAI Sustainable U.S. Equity Fund : FIDEX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-3455 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® SAI Sustainable U.S. Equity Fund | $ 67 | 0.59% |
Fidelity® SAI Sustainable U.S. Equity Fund | $10,000 | $9,250 | $9,669 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,431 | $9,669 |
Russell 3000® Index | $10,000 | $9,374 | $9,564 |
2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® SAI Sustainable U.S. Equity Fund | 26.61% | 9.96% |
MSCI USA IMI ESG Leaders Index | 30.10% | 11.36% |
Russell 3000® Index | 27.58% | 9.79% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $110,443,950 | |
Number of Holdings | 73 | |
Total Advisory Fee | $223,287 | |
Portfolio Turnover | 49% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.6 | |
Financials | 12.9 | |
Health Care | 12.5 | |
Consumer Discretionary | 10.9 | |
Industrials | 10.1 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.7 | |
Real Estate | 1.2 | |
Common Stocks | 97.7 |
Short-Term Investments and Net Other Assets (Liabilities) | 2.3 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 95.0 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.5 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.4 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.0 | ||
The fund's contractual management fee was reduced during the reporting period. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913341.100 6552-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity Advisor® Climate Action Fund Class M : FCAOX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class M | $ 177 | 1.55% |
Class M | $9,650 | $8,550 | $8,502 | $10,972 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class M (incl. 3.50% sales charge) | 24.54% | 3.18% |
Class M (without 3.50% sales charge) | 29.06% | 4.43% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913330.100 6388-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity Advisor® Sustainable U.S. Equity Fund Class C : FSEOX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class C | $ 214 | 1.90% |
Class C | $10,000 | $9,347 | $9,634 | $12,077 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class C (incl. contingent deferred sales charge) | 24.36% | 6.58% |
Class C | 25.36% | 6.58% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913335.100 6393-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity Advisor® Climate Action Fund Class A : FCAJX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class A | $ 149 | 1.30% |
Class A | $9,425 | $8,369 | $8,341 | $10,792 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class A (incl. 5.75% sales charge) | 21.94% | 2.61% |
Class A (without 5.75% sales charge) | 29.38% | 4.68% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913328.100 6386-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Climate Action Fund Fidelity® Climate Action Fund : FCAEX | |
prospectus/sec. You can also request this information by contacting us at 1-800-544-8544 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Fidelity® Climate Action Fund | $ 121 | 1.05% |
Fidelity® Climate Action Fund | $10,000 | $8,900 | $8,893 | $11,542 |
MSCI World Climate Change Index | $10,000 | $9,303 | $9,791 | $12,536 |
MSCI World Index | $10,000 | $9,415 | $9,650 | $12,101 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Fidelity® Climate Action Fund | 29.79% | 4.96% |
MSCI World Climate Change Index | 28.03% | 7.93% |
MSCI World Index | 25.39% | 6.65% |
Visit www.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $31,239,056 | |
Number of Holdings | 100 | |
Total Advisory Fee | $161,267 | |
Portfolio Turnover | 85% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 35.1 | |
Industrials | 20.2 | |
Financials | 11.0 | |
Health Care | 10.5 | |
Consumer Discretionary | 9.6 | |
Communication Services | 5.1 | |
Materials | 3.2 | |
Consumer Staples | 2.8 | |
Energy | 0.8 | |
Utilities | 0.5 | |
Common Stocks | 98.8 |
Preferred Securities | 0.0 |
Preferred Stocks | 0.0 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.2 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 86.4 |
Denmark | 2.4 |
United Kingdom | 1.8 |
France | 1.4 |
Switzerland | 1.3 |
China | 1.2 |
Brazil | 0.9 |
Japan | 0.8 |
Canada | 0.8 |
Others | 3.0 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
NVIDIA Corp | 9.0 | |
Microsoft Corp | 6.2 | |
Alphabet Inc Class A | 5.1 | |
Moody's Corp | 2.4 | |
Apple Inc | 2.4 | |
Eaton Corp PLC | 2.1 | |
Amazon.com Inc | 2.1 | |
Applied Materials Inc | 1.9 | |
First Solar Inc | 1.7 | |
Morgan Stanley | 1.7 | |
34.6 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913327.100 6385-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
ANNUAL SHAREHOLDER REPORT | AS OF MAY 31, 2024 | This report describes changes to the Fund that occurred during the reporting period. | |
| Fidelity® Sustainable U.S. Equity Fund Fidelity Advisor® Sustainable U.S. Equity Fund Class A : FSEKX | |
prospectus/sec. You can also request this information by contacting us at 1-877-208-0098 or by sending an e-mail to fidfunddocuments@fidelity.com.
Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment | ||
Class A | $ 130 | 1.15% |
Class A | $9,425 | $8,872 | $9,218 | $11,640 |
MSCI USA IMI ESG Leaders Index | $10,000 | $9,683 | $9,926 | $12,914 |
Russell 3000® Index | $10,000 | $9,518 | $9,711 | $12,390 |
2021 | 2022 | 2023 | 2024 |
1 Year | Life of Fund A | |
Class A (incl. 5.75% sales charge) | 19.01% | 5.26% |
Class A (without 5.75% sales charge) | 26.27% | 7.39% |
MSCI USA IMI ESG Leaders Index | 30.10% | 9.02% |
Russell 3000® Index | 27.58% | 7.50% |
Visit institutional.fidelity.com for more recent performance information. |
The Fund's past performance is not a good predictor of the Fund's future performance. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. |
KEY FACTS | ||
Fund Size | $26,854,683 | |
Number of Holdings | 74 | |
Total Advisory Fee | $126,538 | |
Portfolio Turnover | 45% |
(as of May 31, 2024)
MARKET SECTORS (% of Fund's net assets) | ||
Information Technology | 25.7 | |
Financials | 13.0 | |
Health Care | 12.6 | |
Industrials | 10.9 | |
Consumer Discretionary | 10.9 | |
Communication Services | 9.2 | |
Consumer Staples | 5.4 | |
Materials | 4.2 | |
Energy | 4.0 | |
Utilities | 1.9 | |
Real Estate | 1.2 | |
Common Stocks | 98.9 |
Preferred Stocks | 0.1 |
Short-Term Investments and Net Other Assets (Liabilities) | 1.0 |
ASSET ALLOCATION (% of Fund's net assets) |
United States | 94.9 |
France | 2.2 |
Norway | 1.5 |
Italy | 0.8 |
China | 0.6 |
GEOGRAPHIC DIVERSIFICATION (% of Fund's net assets) |
TOP HOLDINGS (% of Fund's net assets) | ||
Microsoft Corp | 7.6 | |
NVIDIA Corp | 6.4 | |
Alphabet Inc Class A | 4.4 | |
Amazon.com Inc | 3.9 | |
Apple Inc | 3.2 | |
Procter & Gamble Co/The | 2.8 | |
Merck & Co Inc | 2.7 | |
Travelers Cos Inc/The | 2.5 | |
Cigna Group/The | 2.4 | |
Moody's Corp | 2.2 | |
38.1 | ||
The fund's transfer agent and pricing & bookkeeping fees were changed to a fixed rate effective December 1, 2023, through February 29, 2024, in anticipation of the transition to a new management fee structure. Effective March 1, 2024, the fund's management contract was amended to incorporate administrative services previously covered under separate services agreements (transfer agent and pricing & bookkeeping). The amended contract incorporates a basic fee rate that may vary by class (subject to a performance adjustment). The Adviser or an affiliate pays certain expenses of managing and operating the fund out of each class's management fee. |
Fidelity, the Fidelity Investments Logo and all other Fidelity trademarks or service marks used herein are trademarks or service marks of FMR LLC. Any third-party marks that are used herein are trademarks or service marks of their respective owners. © 2024 FMR LLC. All rights reserved. | ||
1.9913334.100 6392-TSRA-0724 | For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit fundresearch.fidelity.com/prospectus/sec |
Item 2.
Code of Ethics
As of the end of the period, May 31, 2024, Fidelity Summer Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer. A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
Item 3.
Audit Committee Financial Expert
The Board of Trustees of the trust has determined that Donald F. Donahue is an audit committee financial expert, as defined in Item 3 of Form N-CSR. Mr. Donahue is independent for purposes of Item 3 of Form N-CSR.
Item 4.
Principal Accountant Fees and Services
Fees and Services
The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Agricultural Productivity Fund, Fidelity Climate Action Fund, Fidelity Sustainable U.S. Equity Fund, and Fidelity Water Sustainability Fund (the “Funds”):
Services Billed by Deloitte Entities
May 31, 2024 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Agricultural Productivity Fund | $30,400 | $- | $7,600 | $800 |
Fidelity Climate Action Fund | $37,600 | $- | $7,400 | $1,000 |
Fidelity Sustainable U.S. Equity Fund | $38,100 | $- | $7,900 | $1,000 |
Fidelity Water Sustainability Fund | $36,600 | $- | $7,400 | $1,000 |
May 31, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity Agricultural Productivity Fund | $30,600 | $- | $7,400 | $800 |
Fidelity Climate Action Fund | $38,900 | $- | $7,400 | $900 |
Fidelity Sustainable U.S. Equity Fund | $38,900 | $- | $7,400 | $900 |
Fidelity Water Sustainability Fund | $36,700 | $- | $7,400 | $900 |
A Amounts may reflect rounding.
The following table presents fees billed by PricewaterhouseCoopers LLP (“PwC”) in each of the last two fiscal years for services rendered to Fidelity SAI Sustainable Future Fund, Fidelity SAI Sustainable Sector Fund, and Fidelity SAI Sustainable U.S. Equity Fund (the “Funds”):
Services Billed by PwC
May 31, 2024 FeesA | Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees |
Fidelity SAI Sustainable Future Fund | $29,100 | $2,700 | $9,600 | $900 |
Fidelity SAI Sustainable Sector Fund | $29,100 | $2,700 | $9,600 | $900 |
Fidelity SAI Sustainable U.S. Equity Fund | $29,100 | $2,700 | $9,600 | $900 |
May 31, 2023 FeesA
Audit Fees | Audit-Related Fees | Tax Fees | All Other Fees | |
Fidelity SAI Sustainable Future Fund | $29,200 | $2,400 | $7,000 | $800 |
Fidelity SAI Sustainable Sector Fund | $29,200 | $2,400 | $7,000 | $800 |
Fidelity SAI Sustainable U.S. Equity Fund | $29,200 | $2,400 | $7,000 | $800 |
A Amounts may reflect rounding.
The following table(s) present(s) fees billed by Deloitte Entities and PwC that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Fund(s) and that are rendered on behalf of Fidelity Management & Research Company LLC ("FMR") and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another
investment adviser) that provide ongoing services to the Fund(s) (“Fund Service Providers”):
Services Billed by Deloitte Entities
May 31, 2024A | May 31, 2023A | |
Audit-Related Fees | $200,000 | $80,000 |
Tax Fees | $- | $- |
All Other Fees | $935,000 | $- |
A Amounts may reflect rounding.
Services Billed by PwC
May 31, 2024A | May 31, 2023 A | |
Audit-Related Fees | $9,367,800 | $8,604,200 |
Tax Fees | $61,000 | $1,000 |
All Other Fees | $- | $- |
A Amounts may reflect rounding.
“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.
“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.
“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.
Assurance services must be performed by an independent public accountant.
* * *
The aggregate non-audit fees billed by Deloitte Entities and PwC for services rendered to the Fund(s), FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and
any Fund Service Provider for each of the last two fiscal years of the Fund(s) are as follows:
Billed By | May 31, 2024A | May 31, 2023A | |
Deloitte Entities | $5,193,600 | $2,089,100 | |
PwC | $14,907,600 | $14,149,600 |
A Amounts may reflect rounding.
The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities and PwC to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities and PwC in its(their) audit of the Fund(s), taking into account representations from Deloitte Entities and PwC, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Fund(s) and its(their) related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund(s) Service Providers.
Audit Committee Pre-Approval Policies and Procedures
The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.
All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.
Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.
Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)
There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Fund’s(s’) last two fiscal years relating to services provided to (i) the Fund(s) or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Fund(s).
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable.
Item 7.
Financial Statements and Financial Highlights for Open-End Management Investment Companies
Contents
Common Stocks - 98.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 5.1% | |||
Interactive Media & Services - 5.1% | |||
Alphabet, Inc. Class A | 9,205 | 1,587,863 | |
CONSUMER DISCRETIONARY - 9.5% | |||
Automobiles - 0.6% | |||
BYD Co. Ltd. (A Shares) | 4,800 | 151,800 | |
Hyundai Motor Co. Ltd. | 204 | 37,483 | |
189,283 | |||
Broadline Retail - 2.9% | |||
Amazon.com, Inc. (a) | 3,679 | 649,123 | |
MercadoLibre, Inc. (a) | 154 | 265,739 | |
914,862 | |||
Hotels, Restaurants & Leisure - 1.2% | |||
Chipotle Mexican Grill, Inc. (a) | 116 | 363,024 | |
Household Durables - 1.9% | |||
Mohawk Industries, Inc. (a) | 2,297 | 280,073 | |
TopBuild Corp. (a) | 723 | 302,178 | |
582,251 | |||
Specialty Retail - 2.2% | |||
Lowe's Companies, Inc. | 2,244 | 496,575 | |
Ulta Beauty, Inc. (a) | 505 | 199,520 | |
696,095 | |||
Textiles, Apparel & Luxury Goods - 0.7% | |||
Birkenstock Holding PLC | 1,550 | 88,350 | |
On Holding AG (a) | 3,445 | 146,550 | |
234,900 | |||
TOTAL CONSUMER DISCRETIONARY | 2,980,415 | ||
CONSUMER STAPLES - 2.9% | |||
Personal Care Products - 2.9% | |||
Haleon PLC | 20,631 | 85,730 | |
Kenvue, Inc. | 20,395 | 393,624 | |
L'Oreal SA | 831 | 410,182 | |
Puig Brands SA Class B | 500 | 14,176 | |
903,712 | |||
ENERGY - 0.8% | |||
Oil, Gas & Consumable Fuels - 0.8% | |||
Cameco Corp. | 4,482 | 248,796 | |
FINANCIALS - 11.0% | |||
Capital Markets - 5.4% | |||
Intercontinental Exchange, Inc. | 3,146 | 421,249 | |
Moody's Corp. | 1,891 | 750,708 | |
Morgan Stanley | 5,414 | 529,706 | |
1,701,663 | |||
Consumer Finance - 2.8% | |||
American Express Co. | 1,698 | 407,520 | |
Capital One Financial Corp. | 3,317 | 456,519 | |
864,039 | |||
Financial Services - 1.6% | |||
PayPal Holdings, Inc. (a) | 828 | 52,156 | |
Visa, Inc. Class A | 1,619 | 441,113 | |
493,269 | |||
Insurance - 1.2% | |||
Marsh & McLennan Companies, Inc. | 1,773 | 368,039 | |
TOTAL FINANCIALS | 3,427,010 | ||
HEALTH CARE - 10.6% | |||
Biotechnology - 0.5% | |||
BioNTech SE ADR (a) | 157 | 15,794 | |
Repligen Corp. (a) | 973 | 145,065 | |
160,859 | |||
Health Care Equipment & Supplies - 1.2% | |||
Intuitive Surgical, Inc. (a) | 924 | 371,559 | |
Health Care Providers & Services - 1.0% | |||
Elevance Health, Inc. | 553 | 297,779 | |
Life Sciences Tools & Services - 4.9% | |||
Agilent Technologies, Inc. | 2,272 | 296,292 | |
Bruker Corp. | 1,423 | 93,221 | |
Danaher Corp. | 1,459 | 374,671 | |
Mettler-Toledo International, Inc. (a) | 272 | 381,912 | |
Thermo Fisher Scientific, Inc. | 682 | 387,362 | |
1,533,458 | |||
Pharmaceuticals - 3.0% | |||
GSK PLC | 22,325 | 500,929 | |
Novo Nordisk A/S Series B | 3,306 | 447,924 | |
948,853 | |||
TOTAL HEALTH CARE | 3,312,508 | ||
INDUSTRIALS - 20.0% | |||
Building Products - 2.1% | |||
The AZEK Co., Inc. Class A, (a) | 4,993 | 239,464 | |
Trane Technologies PLC | 1,318 | 431,592 | |
671,056 | |||
Commercial Services & Supplies - 2.3% | |||
Montrose Environmental Group, Inc. (a) | 3,822 | 179,672 | |
Tetra Tech, Inc. | 1,297 | 271,709 | |
Veralto Corp. | 2,645 | 260,744 | |
712,125 | |||
Construction & Engineering - 0.9% | |||
Cadeler A/S (a) | 8,555 | 53,653 | |
Quanta Services, Inc. | 892 | 246,138 | |
299,791 | |||
Electrical Equipment - 6.7% | |||
Bloom Energy Corp. Class A (a) | 9,304 | 151,841 | |
Eaton Corp. PLC | 1,987 | 661,373 | |
HD Hyundai Electric Co. Ltd. | 503 | 109,394 | |
Hubbell, Inc. Class B | 482 | 187,445 | |
Net Power, Inc. Class A (a) | 2,138 | 22,470 | |
Nextracker, Inc. Class A (a) | 5,305 | 292,677 | |
Prysmian SpA | 3,038 | 199,809 | |
Sungrow Power Supply Co. Ltd. (A Shares) | 15,700 | 213,958 | |
Vestas Wind Systems A/S (a) | 8,692 | 243,883 | |
2,082,850 | |||
Industrial Conglomerates - 0.6% | |||
3M Co. | 1,778 | 178,049 | |
Machinery - 3.9% | |||
Chart Industries, Inc. (a) | 844 | 132,533 | |
Cummins, Inc. | 931 | 262,291 | |
Deere & Co. | 821 | 307,678 | |
Energy Recovery, Inc. (a) | 4,244 | 57,294 | |
Ingersoll Rand, Inc. | 3,638 | 338,516 | |
Techtronic Industries Co. Ltd. | 8,908 | 109,584 | |
1,207,896 | |||
Professional Services - 2.6% | |||
ICF International, Inc. | 1,153 | 164,591 | |
KBR, Inc. | 5,156 | 338,543 | |
RELX PLC (London Stock Exchange) | 6,035 | 264,737 | |
UL Solutions, Inc. Class A | 1,594 | 61,481 | |
829,352 | |||
Trading Companies & Distributors - 0.9% | |||
Ashtead Technology Holdings PLC | 26,842 | 283,470 | |
TOTAL INDUSTRIALS | 6,264,589 | ||
INFORMATION TECHNOLOGY - 35.0% | |||
Communications Equipment - 0.5% | |||
Arista Networks, Inc. (a) | 542 | 161,326 | |
Electronic Equipment, Instruments & Components - 3.1% | |||
Amphenol Corp. Class A | 3,387 | 448,337 | |
CDW Corp. | 96 | 21,468 | |
Flex Ltd. (a) | 7,734 | 256,227 | |
Keysight Technologies, Inc. (a) | 827 | 114,523 | |
Zebra Technologies Corp. Class A (a) | 410 | 128,059 | |
968,614 | |||
IT Services - 2.5% | |||
Accenture PLC Class A | 1,253 | 353,709 | |
IBM Corp. | 2,608 | 435,145 | |
788,854 | |||
Semiconductors & Semiconductor Equipment - 16.6% | |||
AEHR Test Systems (a) | 6,323 | 72,778 | |
Allegro MicroSystems LLC (a) | 7,505 | 226,201 | |
Applied Materials, Inc. | 2,588 | 556,627 | |
ASM International NV (Netherlands) | 170 | 119,631 | |
Enphase Energy, Inc. (a) | 1,991 | 254,649 | |
First Solar, Inc. (a) | 1,983 | 538,900 | |
MKS Instruments, Inc. | 1,283 | 162,415 | |
NVIDIA Corp. | 2,546 | 2,791,254 | |
Qualcomm, Inc. | 2,247 | 458,500 | |
5,180,955 | |||
Software - 9.9% | |||
CyberArk Software Ltd. (a) | 955 | 218,934 | |
Intuit, Inc. | 466 | 268,621 | |
Microsoft Corp. | 4,682 | 1,943,639 | |
Samsara, Inc. (a) | 4,739 | 160,794 | |
ServiceNow, Inc. (a) | 591 | 388,246 | |
Volue A/S (a) | 27,462 | 88,349 | |
VRAIN Solution, Inc. | 1,480 | 32,797 | |
3,101,380 | |||
Technology Hardware, Storage & Peripherals - 2.4% | |||
Apple, Inc. | 3,826 | 735,549 | |
TOTAL INFORMATION TECHNOLOGY | 10,936,678 | ||
MATERIALS - 3.3% | |||
Chemicals - 3.1% | |||
Albemarle Corp. | 916 | 112,292 | |
Aspen Aerogels, Inc. (a) | 7,734 | 231,401 | |
DSM-Firmenich AG | 2,156 | 249,564 | |
Linde PLC | 855 | 372,370 | |
965,627 | |||
Construction Materials - 0.1% | |||
Hoffmann Green Cement Technologies SAS (a) | 3,123 | 39,289 | |
Metals & Mining - 0.1% | |||
Lynas Rare Earths Ltd. (a) | 5,883 | 26,246 | |
TOTAL MATERIALS | 1,031,162 | ||
UTILITIES - 0.5% | |||
Independent Power and Renewable Electricity Producers - 0.5% | |||
Energix-Renewable Energies Ltd. | 12,369 | 51,149 | |
Scatec Solar AS (b) | 11,592 | 96,213 | |
147,362 | |||
TOTAL COMMON STOCKS (Cost $22,880,232) | 30,840,095 | ||
Convertible Preferred Stocks - 0.0% | |||
Shares | Value ($) | ||
INFORMATION TECHNOLOGY - 0.0% | |||
Electronic Equipment, Instruments & Components - 0.0% | |||
CelLink Corp. Series D (a)(c)(d) (Cost $8,330) | 400 | 3,116 | |
Preferred Securities - 0.1% | |||
Principal Amount (e) | Value ($) | ||
MATERIALS - 0.1% | |||
Metals & Mining - 0.1% | |||
Illuminated Holdings, Inc. 15% (c)(d)(f) (Cost $12,000) | 12,000 | 12,505 | |
Money Market Funds - 1.1% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (g) (Cost $350,107) | 350,037 | 350,107 | |
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $23,250,669) | 31,205,823 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 33,233 |
NET ASSETS - 100.0% | 31,239,056 |
(a) | Non-income producing |
(b) | 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 $96,213 or 0.3% of net assets. |
(c) | 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 $15,621 or 0.1% of net assets. |
(d) | Level 3 security |
(e) | Amount is stated in United States dollars unless otherwise noted. |
(f) | Security is perpetual in nature with no stated maturity date. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
CelLink Corp. Series D | 1/20/22 | 8,330 |
Illuminated Holdings, Inc. 15% | 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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 424,905 | 6,193,405 | 6,268,213 | 12,685 | 10 | - | 350,107 | 0.0% |
Total | 424,905 | 6,193,405 | 6,268,213 | 12,685 | 10 | - | 350,107 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,587,863 | 1,587,863 | - | - |
Consumer Discretionary | 2,980,415 | 2,942,932 | 37,483 | - |
Consumer Staples | 903,712 | 393,624 | 510,088 | - |
Energy | 248,796 | 248,796 | - | - |
Financials | 3,427,010 | 3,427,010 | - | - |
Health Care | 3,312,508 | 2,363,655 | 948,853 | - |
Industrials | 6,264,589 | 5,000,059 | 1,264,530 | - |
Information Technology | 10,939,794 | 10,728,698 | 207,980 | 3,116 |
Materials | 1,031,162 | 716,063 | 315,099 | - |
Utilities | 147,362 | 51,149 | 96,213 | - |
Preferred Securities | 12,505 | - | - | 12,505 |
Money Market Funds | 350,107 | 350,107 | - | - |
Total Investments in Securities: | 31,205,823 | 27,809,956 | 3,380,246 | 15,621 |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $22,900,562) | $ | 30,855,716 | ||
Fidelity Central Funds (cost $350,107) | 350,107 | |||
Total Investment in Securities (cost $23,250,669) | $ | 31,205,823 | ||
Foreign currency held at value (cost $3) | 3 | |||
Receivable for investments sold | 45,586 | |||
Receivable for fund shares sold | 64,081 | |||
Dividends receivable | 41,081 | |||
Distributions receivable from Fidelity Central Funds | 1,285 | |||
Prepaid expenses | 4 | |||
Receivable from investment adviser for expense reductions | 47,421 | |||
Total assets | 31,405,284 | |||
Liabilities | ||||
Payable for investments purchased | $ | 81,271 | ||
Payable for fund shares redeemed | 12,248 | |||
Accrued management fee | 19,842 | |||
Distribution and service plan fees payable | 606 | |||
Audit fee payable | 39,120 | |||
Custody fee payable | 10,972 | |||
Other payables and accrued expenses | 2,169 | |||
Total liabilities | 166,228 | |||
Net Assets | $ | 31,239,056 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 28,228,246 | ||
Total accumulated earnings (loss) | 3,010,810 | |||
Net Assets | $ | 31,239,056 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($833,450 ÷ 72,773 shares)(a) | $ | 11.45 | ||
Maximum offering price per share (100/94.25 of $11.45) | $ | 12.15 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($563,378 ÷ 49,558 shares)(a) | $ | 11.37 | ||
Maximum offering price per share (100/96.50 of $11.37) | $ | 11.78 | ||
Class C : | ||||
Net Asset Value and offering price per share ($288,727 ÷ 25,777 shares)(a) | $ | 11.20 | ||
Fidelity Climate Action Fund : | ||||
Net Asset Value, offering price and redemption price per share ($27,766,032 ÷ 2,411,034 shares) | $ | 11.52 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($903,140 ÷ 78,427 shares) | $ | 11.52 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($884,329 ÷ 76,458 shares) | $ | 11.57 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 262,989 | ||
Income from Fidelity Central Funds | 12,685 | |||
Total income | 275,674 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 182,939 | ||
Performance adjustment | (19,650) | |||
Transfer agent fees | 41,034 | |||
Distribution and service plan fees | 6,039 | |||
Accounting fees and expenses | 6,417 | |||
Custodian fees and expenses | 26,926 | |||
Independent trustees' fees and expenses | 120 | |||
Registration fees | 82,096 | |||
Audit | 54,941 | |||
Legal | 13 | |||
Miscellaneous | 2,034 | |||
Total expenses before reductions | 382,909 | |||
Expense reductions | (110,014) | |||
Total expenses after reductions | 272,895 | |||
Net Investment income (loss) | 2,779 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (448,731) | |||
Fidelity Central Funds | 10 | |||
Foreign currency transactions | (86) | |||
Total net realized gain (loss) | (448,807) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 7,339,452 | |||
Assets and liabilities in foreign currencies | 466 | |||
Total change in net unrealized appreciation (depreciation) | 7,339,918 | |||
Net gain (loss) | 6,891,111 | |||
Net increase (decrease) in net assets resulting from operations | $ | 6,893,890 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 2,779 | $ | 36,772 |
Net realized gain (loss) | (448,807) | (2,925,575) | ||
Change in net unrealized appreciation (depreciation) | 7,339,918 | 2,966,454 | ||
Net increase (decrease) in net assets resulting from operations | 6,893,890 | 77,651 | ||
Distributions to shareholders | (36,997) | (6,506) | ||
Share transactions - net increase (decrease) | 1,496,009 | 2,655,027 | ||
Total increase (decrease) in net assets | 8,352,902 | 2,726,172 | ||
Net Assets | ||||
Beginning of period | 22,886,154 | 20,159,982 | ||
End of period | $ | 31,239,056 | $ | 22,886,154 |
Fidelity Advisor® Climate Action Fund Class A |
Years ended May 31, | 2024 | 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 | (.02) | - D | (.02) | |||
Net realized and unrealized gain (loss) | 2.62 | (.03) E | (1.10) | |||
Total from investment operations | 2.60 | (.03) | (1.12) | |||
Net asset value, end of period | $ | 11.45 | $ | 8.85 | $ | 8.88 |
Total Return F,G,H | 29.38 % | (.34)% | (11.20)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.74% | 1.95% | 2.95% K | |||
Expenses net of fee waivers, if any | 1.30 % | 1.30% | 1.29% K | |||
Expenses net of all reductions | 1.30% | 1.30% | 1.29% K | |||
Net investment income (loss) | (.22)% | (.05)% | (.19)% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 833 | $ | 449 | $ | 405 |
Portfolio turnover rate L | 85 % | 51% | 57% K |
Fidelity Advisor® Climate Action Fund Class M |
Years ended May 31, | 2024 | 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 | (.05) | (.03) | (.04) | |||
Net realized and unrealized gain (loss) | 2.61 | (.02) D | (1.10) | |||
Total from investment operations | 2.56 | (.05) | (1.14) | |||
Net asset value, end of period | $ | 11.37 | $ | 8.81 | $ | 8.86 |
Total Return E,F,G | 29.06 % | (.56)% | (11.40)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.94% | 2.04% | 3.33% J | |||
Expenses net of fee waivers, if any | 1.55 % | 1.55% | 1.55% J | |||
Expenses net of all reductions | 1.55% | 1.55% | 1.55% J | |||
Net investment income (loss) | (.47)% | (.30)% | (.45)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 563 | $ | 431 | $ | 132 |
Portfolio turnover rate K | 85 % | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class C |
Years ended May 31, | 2024 | 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 | (.09) | (.07) | (.09) | |||
Net realized and unrealized gain (loss) | 2.57 | (.03) D | (1.09) | |||
Total from investment operations | 2.48 | (.10) | (1.18) | |||
Net asset value, end of period | $ | 11.20 | $ | 8.72 | $ | 8.82 |
Total Return E,F,G | 28.44 % | (1.13)% | (11.80)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 2.50% | 2.63% | 3.55% J | |||
Expenses net of fee waivers, if any | 2.05 % | 2.05% | 2.04% J | |||
Expenses net of all reductions | 2.05% | 2.05% | 2.04% J | |||
Net investment income (loss) | (.97)% | (.80)% | (.94)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 289 | $ | 199 | $ | 265 |
Portfolio turnover rate K | 85 % | 51% | 57% J |
Fidelity® Climate Action Fund |
Years ended May 31, | 2024 | 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 | - D | .02 | .01 | |||
Net realized and unrealized gain (loss) | 2.65 | (.03) E | (1.11) | |||
Total from investment operations | 2.65 | (.01) | (1.10) | |||
Distributions from net investment income | (.02) | - D | - | |||
Total distributions | (.02) | - D | - | |||
Net asset value, end of period | $ | 11.52 | $ | 8.89 | $ | 8.90 |
Total Return F,G | 29.79 % | (.08)% | (11.00)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.48% | 1.68% | 2.66% J | |||
Expenses net of fee waivers, if any | 1.05 % | 1.05% | 1.05% J | |||
Expenses net of all reductions | 1.05% | 1.05% | 1.05% J | |||
Net investment income (loss) | .03% | .20% | .06% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 27,766 | $ | 21,237 | $ | 19,057 |
Portfolio turnover rate K | 85 % | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class I |
Years ended May 31, | 2024 | 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 | - D | .02 | .01 | |||
Net realized and unrealized gain (loss) | 2.65 | (.03) E | (1.11) | |||
Total from investment operations | 2.65 | (.01) | (1.10) | |||
Distributions from net investment income | (.02) | - D | - | |||
Total distributions | (.02) | - D | - | |||
Net asset value, end of period | $ | 11.52 | $ | 8.89 | $ | 8.90 |
Total Return F,G | 29.79 % | (.08)% | (11.00)% | |||
Ratios to Average Net Assets B,H,I | ||||||
Expenses before reductions | 1.35% | 1.55% | 2.93% J | |||
Expenses net of fee waivers, if any | 1.05 % | 1.04% | 1.04% J | |||
Expenses net of all reductions | 1.05% | 1.04% | 1.04% J | |||
Net investment income (loss) | .03% | .20% | .06% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 903 | $ | 300 | $ | 192 |
Portfolio turnover rate K | 85 % | 51% | 57% J |
Fidelity Advisor® Climate Action Fund Class Z |
Years ended May 31, | 2024 | 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 | .02 | .03 | .02 | |||
Net realized and unrealized gain (loss) | 2.65 | (.02) D | (1.11) | |||
Total from investment operations | 2.67 | .01 | (1.09) | |||
Distributions from net investment income | (.02) | - E | - | |||
Total distributions | (.02) | - E | - | |||
Net asset value, end of period | $ | 11.57 | $ | 8.92 | $ | 8.91 |
Total Return F,G | 29.91 % | .15% | (10.90)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 1.32% | 1.40% | 3.00% J | |||
Expenses net of fee waivers, if any | .90 % | .90% | .90% J | |||
Expenses net of all reductions | .90% | .89% | .90% J | |||
Net investment income (loss) | .18% | .35% | .20% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 884 | $ | 270 | $ | 109 |
Portfolio turnover rate K | 85 % | 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 | $8,322,924 |
Gross unrealized depreciation | (408,460) |
Net unrealized appreciation (depreciation) | $7,914,464 |
Tax Cost | $23,291,359 |
Capital loss carryforward | $(4,898,356) |
Net unrealized appreciation (depreciation) on securities and other investments | $7,914,886 |
Short-term | $(3,565,155) |
Long-term | (1,333,201) |
Total capital loss carryforward | $(4,898,356) |
May 31, 2024 | May 31, 2023 | ||
Ordinary Income | $36,997 | $ 6,506 | |
Total | $36,997 | $ 6,506 | |
Purchases ($) | Sales ($) | |
Fidelity Climate Action Fund | 22,974,181 | 21,595,235 |
Maximum Management Fee Rate % | |
Class A | .87 |
Class M | .84 |
Class C | .87 |
Fidelity Climate Action Fund | .87 |
Class I | .79 |
Class Z | .71 |
Total Management Fee Rate % | |
Class A | .87 |
Class M | .84 |
Class C | .87 |
Fidelity Climate Action Fund | .83 |
Class I | .79 |
Class Z | .71 |
Performance Adjustment Index | |
Fidelity Climate Action Fund | MSCI World Index |
Distribution Fee | Service Fee | Total Fees ($) | Retained by FDC ($) | |
Class A | -% | .25% | 1,544 | 247 |
Class M | .25% | .25% | 2,398 | 128 |
Class C | .75% | .25% | 2,097 | 745 |
6,039 | 1,120 |
Retained by FDC ($) | |
Class A | 1,462 |
Class M | 17 |
Class CA | 4 |
1,483 |
% of Class-Level Average Net Assets | |
Class A | .2000 |
Class M | .1756 |
Class C | .2000 |
Fidelity Climate Action Fund | .2000 |
Class I | .1238 |
Amount ($) | % of Class-Level Average Net Assets | |
Class A | 1,015 | .24 |
Class M | 645 | .19 |
Class C | 355 | .23 |
Fidelity Climate Action Fund | 38,316 | .23 |
Class I | 562 | .12 |
Class Z | 141 | .04 |
41,034 |
% of Average Net Assets | |
Fidelity Climate Action Fund | .0354 |
% of Average Net Assets | |
Fidelity Climate Action Fund | .04 |
Amount ($) | |
Fidelity Climate Action Fund | 280 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Climate Action Fund | 757,009 | 1,175,908 | 14,591 |
Amount ($) | |
Fidelity Climate Action Fund | 43 |
Expense Limitations | Reimbursement ($) | |
Class A | 1.30% | 2,700 |
Class M | 1.55% | 1,848 |
Class C | 2.05% | 937 |
Fidelity Climate Action Fund | 1.05% | 98,261 |
Class I | 1.05% | 2,008 |
Class Z | .90% | 2,238 |
107,992 |
Year ended May 31, 2024 | Year ended May 31, 2023 | |
Fidelity Climate Action Fund | ||
Distributions to shareholders | ||
Fidelity Climate Action Fund | 35,749 | 6,404 |
Class I | 681 | 65 |
Class Z | 567 | 37 |
Total | $36,997 | $6,506 |
Shares | Shares | Dollars | Dollars | |
Year ended May 31, 2024 | Year ended May 31, 2023 | Year ended May 31, 2024 | Year ended May 31, 2023 | |
Fidelity Climate Action Fund | ||||
Class A | ||||
Shares sold | 30,059 | 18,907 | $295,197 | $163,388 |
Shares redeemed | (8,043) | (13,763) | (79,550) | (114,724) |
Net increase (decrease) | 22,016 | 5,144 | $215,647 | $48,664 |
Class M | ||||
Shares sold | 621 | 44,693 | $6,047 | $359,887 |
Shares redeemed | - | (10,692) | - | (91,173) |
Net increase (decrease) | 621 | 34,001 | $6,047 | $268,714 |
Class C | ||||
Shares sold | 8,696 | 3,385 | $90,587 | $29,156 |
Shares redeemed | (5,729) | (10,644) | (52,855) | (90,431) |
Net increase (decrease) | 2,967 | (7,259) | $37,732 | $(61,275) |
Fidelity Climate Action Fund | ||||
Shares sold | 858,823 | 897,710 | $8,444,961 | $7,735,911 |
Reinvestment of distributions | 3,426 | 700 | 32,644 | 5,821 |
Shares redeemed | (839,099) | (651,433) | (8,128,604) | (5,591,632) |
Net increase (decrease) | 23,150 | 246,977 | $349,001 | $2,150,100 |
Class I | ||||
Shares sold | 44,674 | 13,275 | $423,410 | $101,890 |
Reinvestment of distributions | 72 | 8 | 681 | 65 |
Shares redeemed | (40) | (1,163) | (348) | (9,038) |
Net increase (decrease) | 44,706 | 12,120 | $423,743 | $92,917 |
Class Z | ||||
Shares sold | 46,926 | 22,454 | $470,527 | $192,863 |
Reinvestment of distributions | 53 | 4 | 507 | 37 |
Shares redeemed | (768) | (4,407) | (7,195) | (36,993) |
Net increase (decrease) | 46,211 | 18,051 | $463,839 | $155,907 |
Contents
Common Stocks - 97.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.2% | |||
Entertainment - 3.0% | |||
Netflix, Inc. (a) | 1,516 | 972,696 | |
The Walt Disney Co. | 22,536 | 2,341,716 | |
3,314,412 | |||
Interactive Media & Services - 4.4% | |||
Alphabet, Inc. Class A | 28,286 | 4,879,335 | |
Media - 1.8% | |||
Comcast Corp. Class A | 27,339 | 1,094,380 | |
TEGNA, Inc. | 56,335 | 839,955 | |
1,934,335 | |||
TOTAL COMMUNICATION SERVICES | 10,128,082 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Automobile Components - 0.6% | |||
Aptiv PLC (a) | 7,324 | 609,796 | |
Automobiles - 1.0% | |||
General Motors Co. | 3,045 | 136,995 | |
Tesla, Inc. (a) | 5,151 | 917,290 | |
1,054,285 | |||
Broadline Retail - 3.9% | |||
Amazon.com, Inc. (a) | 24,604 | 4,341,130 | |
Hotels, Restaurants & Leisure - 1.8% | |||
Hilton Worldwide Holdings, Inc. | 5,911 | 1,185,747 | |
Starbucks Corp. | 9,669 | 775,647 | |
1,961,394 | |||
Household Durables - 0.8% | |||
Taylor Morrison Home Corp. (a) | 15,817 | 914,697 | |
Specialty Retail - 1.6% | |||
Lowe's Companies, Inc. | 8,140 | 1,801,301 | |
Textiles, Apparel & Luxury Goods - 1.2% | |||
LVMH Moet Hennessy Louis Vuitton SE | 1,712 | 1,369,162 | |
TOTAL CONSUMER DISCRETIONARY | 12,051,765 | ||
CONSUMER STAPLES - 5.4% | |||
Consumer Staples Distribution & Retail - 1.0% | |||
Sprouts Farmers Market LLC (a) | 13,788 | 1,088,976 | |
Food Products - 1.0% | |||
Danone SA | 16,456 | 1,061,246 | |
Household Products - 2.8% | |||
Procter & Gamble Co. | 18,969 | 3,121,159 | |
Personal Care Products - 0.6% | |||
Estee Lauder Companies, Inc. Class A | 5,498 | 678,233 | |
TOTAL CONSUMER STAPLES | 5,949,614 | ||
ENERGY - 3.9% | |||
Energy Equipment & Services - 1.6% | |||
Baker Hughes Co. Class A | 52,528 | 1,758,637 | |
Oil, Gas & Consumable Fuels - 2.3% | |||
Cheniere Energy, Inc. | 6,035 | 952,263 | |
Equinor ASA | 56,410 | 1,637,455 | |
2,589,718 | |||
TOTAL ENERGY | 4,348,355 | ||
FINANCIALS - 12.9% | |||
Banks - 1.4% | |||
Bank of America Corp. | 17,524 | 700,785 | |
Citigroup, Inc. | 13,701 | 853,709 | |
1,554,494 | |||
Capital Markets - 4.2% | |||
BlackRock, Inc. Class A | 2,182 | 1,684,569 | |
Moody's Corp. | 6,048 | 2,400,996 | |
Northern Trust Corp. | 6,502 | 547,728 | |
4,633,293 | |||
Consumer Finance - 2.4% | |||
American Express Co. | 9,069 | 2,176,560 | |
Discover Financial Services | 3,902 | 478,619 | |
2,655,179 | |||
Financial Services - 2.5% | |||
MasterCard, Inc. Class A | 4,750 | 2,123,583 | |
Voya Financial, Inc. | 8,052 | 610,503 | |
2,734,086 | |||
Insurance - 2.4% | |||
The Travelers Companies, Inc. | 12,517 | 2,699,917 | |
TOTAL FINANCIALS | 14,276,969 | ||
HEALTH CARE - 12.5% | |||
Biotechnology - 1.8% | |||
Exact Sciences Corp. (a) | 9,068 | 412,141 | |
Gilead Sciences, Inc. | 18,477 | 1,187,517 | |
Moderna, Inc. (a) | 2,913 | 415,248 | |
2,014,906 | |||
Health Care Providers & Services - 4.4% | |||
BrightSpring Health Services, Inc. | 92,787 | 1,043,854 | |
Centene Corp. (a) | 14,774 | 1,057,671 | |
Cigna Group | 7,505 | 2,586,373 | |
CVS Health Corp. | 3,170 | 188,932 | |
4,876,830 | |||
Life Sciences Tools & Services - 2.9% | |||
Danaher Corp. | 5,765 | 1,480,452 | |
ICON PLC (a) | 5,208 | 1,691,663 | |
3,172,115 | |||
Pharmaceuticals - 3.4% | |||
Merck & Co., Inc. | 23,494 | 2,949,437 | |
Zoetis, Inc. Class A | 4,348 | 737,247 | |
3,686,684 | |||
TOTAL HEALTH CARE | 13,750,535 | ||
INDUSTRIALS - 10.1% | |||
Air Freight & Logistics - 0.8% | |||
United Parcel Service, Inc. Class B | 6,833 | 949,309 | |
Building Products - 1.0% | |||
Johnson Controls International PLC | 16,365 | 1,176,807 | |
Commercial Services & Supplies - 1.2% | |||
Veralto Corp. | 13,075 | 1,288,934 | |
Electrical Equipment - 3.5% | |||
Acuity Brands, Inc. | 5,835 | 1,514,824 | |
Generac Holdings, Inc. (a) | 3,935 | 579,271 | |
Prysmian SpA | 13,639 | 897,034 | |
Regal Rexnord Corp. | 5,618 | 840,116 | |
3,831,245 | |||
Machinery - 2.1% | |||
Deere & Co. | 2,430 | 910,667 | |
Ingersoll Rand, Inc. | 8,685 | 808,139 | |
Timken Co. | 6,563 | 570,259 | |
2,289,065 | |||
Professional Services - 1.5% | |||
KBR, Inc. | 13,919 | 913,922 | |
ManpowerGroup, Inc. | 8,851 | 660,462 | |
UL Solutions, Inc. Class A | 1,684 | 64,952 | |
1,639,336 | |||
TOTAL INDUSTRIALS | 11,174,696 | ||
INFORMATION TECHNOLOGY - 25.5% | |||
IT Services - 1.6% | |||
Accenture PLC Class A | 6,191 | 1,747,657 | |
Semiconductors & Semiconductor Equipment - 9.9% | |||
Advanced Micro Devices, Inc. (a) | 3,717 | 620,367 | |
First Solar, Inc. (a) | 3,223 | 875,882 | |
NVIDIA Corp. | 6,412 | 7,029,668 | |
NXP Semiconductors NV | 1,834 | 499,031 | |
ON Semiconductor Corp. (a) | 26,409 | 1,928,913 | |
10,953,861 | |||
Software - 10.8% | |||
Gen Digital, Inc. | 25,787 | 640,291 | |
Intuit, Inc. | 1,353 | 779,923 | |
Microsoft Corp. | 20,265 | 8,412,609 | |
Salesforce, Inc. | 8,798 | 2,062,603 | |
11,895,426 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 18,604 | 3,576,619 | |
TOTAL INFORMATION TECHNOLOGY | 28,173,563 | ||
MATERIALS - 4.2% | |||
Chemicals - 1.9% | |||
Linde PLC | 4,795 | 2,088,318 | |
Containers & Packaging - 2.3% | |||
Avery Dennison Corp. | 6,576 | 1,496,632 | |
Crown Holdings, Inc. | 12,116 | 1,020,046 | |
2,516,678 | |||
TOTAL MATERIALS | 4,604,996 | ||
REAL ESTATE - 1.3% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Prologis, Inc. | 12,523 | 1,383,666 | |
UTILITIES - 1.8% | |||
Electric Utilities - 1.3% | |||
NextEra Energy, Inc. | 17,905 | 1,432,758 | |
Independent Power and Renewable Electricity Producers - 0.5% | |||
Clearway Energy, Inc. Class C | 21,744 | 608,832 | |
TOTAL UTILITIES | 2,041,590 | ||
TOTAL COMMON STOCKS (Cost $96,551,849) | 107,883,831 | ||
Money Market Funds - 1.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $1,594,563) | 1,594,244 | 1,594,563 | |
TOTAL INVESTMENT IN SECURITIES - 99.1% (Cost $98,146,412) | 109,478,394 |
NET OTHER ASSETS (LIABILITIES) - 0.9% | 965,556 |
NET ASSETS - 100.0% | 110,443,950 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.39% | 268,489 | 43,843,246 | 42,517,253 | 76,506 | 81 | - | 1,594,563 | 0.0% |
Total | 268,489 | 43,843,246 | 42,517,253 | 76,506 | 81 | - | 1,594,563 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 10,128,082 | 10,128,082 | - | - |
Consumer Discretionary | 12,051,765 | 10,682,603 | 1,369,162 | - |
Consumer Staples | 5,949,614 | 4,888,368 | 1,061,246 | - |
Energy | 4,348,355 | 2,710,900 | 1,637,455 | - |
Financials | 14,276,969 | 14,276,969 | - | - |
Health Care | 13,750,535 | 13,750,535 | - | - |
Industrials | 11,174,696 | 10,277,662 | 897,034 | - |
Information Technology | 28,173,563 | 28,173,563 | - | - |
Materials | 4,604,996 | 4,604,996 | - | - |
Real Estate | 1,383,666 | 1,383,666 | - | - |
Utilities | 2,041,590 | 2,041,590 | - | - |
Money Market Funds | 1,594,563 | 1,594,563 | - | - |
Total Investments in Securities: | 109,478,394 | 104,513,497 | 4,964,897 | - |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $96,551,849) | $ | 107,883,831 | ||
Fidelity Central Funds (cost $1,594,563) | 1,594,563 | |||
Total Investment in Securities (cost $98,146,412) | $ | 109,478,394 | ||
Foreign currency held at value (cost $20) | 20 | |||
Receivable for fund shares sold | 1,002,199 | |||
Dividends receivable | 46,543 | |||
Distributions receivable from Fidelity Central Funds | 10,766 | |||
Prepaid expenses | 2 | |||
Total assets | 110,537,924 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 2,831 | ||
Accrued management fee | 44,660 | |||
Audit fee payable | 33,177 | |||
Custody fee payable | 8,814 | |||
Other payables and accrued expenses | 4,492 | |||
Total liabilities | 93,974 | |||
Net Assets | $ | 110,443,950 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 98,218,768 | ||
Total accumulated earnings (loss) | 12,225,182 | |||
Net Assets | $ | 110,443,950 | ||
Net Asset Value, offering price and redemption price per share ($110,443,950 ÷ 9,122,181 shares) | $ | 12.11 |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 550,418 | ||
Interest | 19 | |||
Income from Fidelity Central Funds | 76,506 | |||
Total income | 626,943 | |||
Expenses | ||||
Management fee | $ | 225,870 | ||
Custodian fees and expenses | 21,110 | |||
Independent trustees' fees and expenses | 147 | |||
Registration fees | 33,401 | |||
Audit | 43,865 | |||
Legal | 10 | |||
Miscellaneous | 839 | |||
Total expenses before reductions | 325,242 | |||
Expense reductions | (62,217) | |||
Total expenses after reductions | 263,025 | |||
Net Investment income (loss) | 363,918 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 784,939 | |||
Fidelity Central Funds | 81 | |||
Foreign currency transactions | 860 | |||
Total net realized gain (loss) | 785,880 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 10,850,250 | |||
Assets and liabilities in foreign currencies | 112 | |||
Total change in net unrealized appreciation (depreciation) | 10,850,362 | |||
Net gain (loss) | 11,636,242 | |||
Net increase (decrease) in net assets resulting from operations | $ | 12,000,160 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 363,918 | $ | 38,390 |
Net realized gain (loss) | 785,880 | (85,243) | ||
Change in net unrealized appreciation (depreciation) | 10,850,362 | 550,925 | ||
Net increase (decrease) in net assets resulting from operations | 12,000,160 | 504,072 | ||
Distributions to shareholders | (142,989) | (18,138) | ||
Share transactions | ||||
Proceeds from sales of shares | 97,504,484 | 7,183,631 | ||
Reinvestment of distributions | 125,081 | 17,819 | ||
Cost of shares redeemed | (7,087,145) | (570,765) | ||
Net increase (decrease) in net assets resulting from share transactions | 90,542,420 | 6,630,685 | ||
Total increase (decrease) in net assets | 102,399,591 | 7,116,619 | ||
Net Assets | ||||
Beginning of period | 8,044,359 | 927,740 | ||
End of period | $ | 110,443,950 | $ | 8,044,359 |
Other Information | ||||
Shares | ||||
Sold | 8,903,387 | 796,395 | ||
Issued in reinvestment of distributions | 11,742 | 1,996 | ||
Redeemed | (630,303) | (61,367) | ||
Net increase (decrease) | 8,284,826 | 737,024 | ||
Fidelity® SAI Sustainable U.S. Equity Fund |
Years ended May 31, | 2024 | 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 | .09 | .10 D | .01 | |||
Net realized and unrealized gain (loss) | 2.46 | .32 | (.76) | |||
Total from investment operations | 2.55 | .42 | (.75) | |||
Distributions from net investment income | (.05) | (.06) | - | |||
Total distributions | (.05) | (.06) | - | |||
Net asset value, end of period | $ | 12.11 | $ | 9.61 | $ | 9.25 |
Total Return E,F | 26.61 % | 4.53% | (7.50)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .73% | 3.03% | 7.28% I,J | |||
Expenses net of fee waivers, if any | .59 % | .59% | .60% I,J | |||
Expenses net of all reductions | .59% | .59% | .60% I,J | |||
Net investment income (loss) | .82% | 1.07% D | .73% I,J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 110,444 | $ | 8,044 | $ | 928 |
Portfolio turnover rate K | 49 % | 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 | $13,455,964 |
Gross unrealized depreciation | (2,291,469) |
Net unrealized appreciation (depreciation) | $11,164,495 |
Tax Cost | $98,313,899 |
Undistributed ordinary income | $910,531 |
Undistributed long-term capital gain | $150,044 |
Net unrealized appreciation (depreciation) on securities and other investments | $11,164,608 |
May 31, 2024 | May 31, 2023 | |
Ordinary Income | $142,989 | $ 18,138 |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 110,220,922 | 21,831,413 |
Amount ($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 665 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 2,610,986 | 1,442,946 | 125,766 |
Amount ($) | |
Fidelity SAI Sustainable U.S. Equity Fund | 57 |
Contents
Common Stocks - 98.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.2% | |||
Entertainment - 3.0% | |||
Netflix, Inc. (a) | 369 | 236,758 | |
The Walt Disney Co. | 5,504 | 571,921 | |
808,679 | |||
Interactive Media & Services - 4.4% | |||
Alphabet, Inc. Class A | 6,878 | 1,186,455 | |
Media - 1.8% | |||
Comcast Corp. Class A | 6,662 | 266,680 | |
TEGNA, Inc. | 13,688 | 204,088 | |
470,768 | |||
TOTAL COMMUNICATION SERVICES | 2,465,902 | ||
CONSUMER DISCRETIONARY - 10.9% | |||
Automobile Components - 0.6% | |||
Aptiv PLC (a) | 1,796 | 149,535 | |
Automobiles - 1.0% | |||
General Motors Co. | 762 | 34,282 | |
Tesla, Inc. (a) | 1,253 | 223,134 | |
257,416 | |||
Broadline Retail - 3.9% | |||
Amazon.com, Inc. (a) | 5,980 | 1,055,111 | |
Hotels, Restaurants & Leisure - 1.8% | |||
Hilton Worldwide Holdings, Inc. | 1,442 | 289,265 | |
Starbucks Corp. | 2,373 | 190,362 | |
479,627 | |||
Household Durables - 0.8% | |||
Taylor Morrison Home Corp. (a) | 3,848 | 222,530 | |
Specialty Retail - 1.6% | |||
Lowe's Companies, Inc. | 1,988 | 439,925 | |
Textiles, Apparel & Luxury Goods - 1.2% | |||
LVMH Moet Hennessy Louis Vuitton SE | 418 | 334,293 | |
TOTAL CONSUMER DISCRETIONARY | 2,938,437 | ||
CONSUMER STAPLES - 5.4% | |||
Consumer Staples Distribution & Retail - 1.0% | |||
Sprouts Farmers Market LLC (a) | 3,361 | 265,452 | |
Food Products - 1.0% | |||
Danone SA | 4,010 | 258,605 | |
Household Products - 2.8% | |||
Procter & Gamble Co. | 4,600 | 756,884 | |
Personal Care Products - 0.6% | |||
Estee Lauder Companies, Inc. Class A | 1,348 | 166,289 | |
TOTAL CONSUMER STAPLES | 1,447,230 | ||
ENERGY - 3.9% | |||
Energy Equipment & Services - 1.6% | |||
Baker Hughes Co. Class A | 12,829 | 429,515 | |
Oil, Gas & Consumable Fuels - 2.3% | |||
Cheniere Energy, Inc. | 1,469 | 231,794 | |
Equinor ASA | 13,777 | 399,915 | |
631,709 | |||
TOTAL ENERGY | 1,061,224 | ||
FINANCIALS - 13.0% | |||
Banks - 1.4% | |||
Bank of America Corp. | 4,308 | 172,277 | |
Citigroup, Inc. | 3,331 | 207,555 | |
379,832 | |||
Capital Markets - 4.2% | |||
BlackRock, Inc. Class A | 533 | 411,492 | |
Moody's Corp. | 1,477 | 586,354 | |
Northern Trust Corp. | 1,588 | 133,773 | |
1,131,619 | |||
Consumer Finance - 2.4% | |||
American Express Co. | 2,215 | 531,600 | |
Discover Financial Services | 945 | 115,914 | |
647,514 | |||
Financial Services - 2.5% | |||
MasterCard, Inc. Class A | 1,160 | 518,601 | |
Voya Financial, Inc. | 1,974 | 149,669 | |
668,270 | |||
Insurance - 2.5% | |||
The Travelers Companies, Inc. | 3,057 | 659,395 | |
TOTAL FINANCIALS | 3,486,630 | ||
HEALTH CARE - 12.5% | |||
Biotechnology - 1.8% | |||
Exact Sciences Corp. (a) | 2,211 | 100,490 | |
Gilead Sciences, Inc. | 4,508 | 289,729 | |
Moderna, Inc. (a) | 717 | 102,208 | |
492,427 | |||
Health Care Providers & Services - 4.4% | |||
BrightSpring Health Services, Inc. | 22,609 | 254,351 | |
Centene Corp. (a) | 3,601 | 257,796 | |
Cigna Group | 1,833 | 631,688 | |
CVS Health Corp. | 701 | 41,780 | |
1,185,615 | |||
Life Sciences Tools & Services - 2.9% | |||
Danaher Corp. | 1,408 | 361,574 | |
ICON PLC (a) | 1,272 | 413,171 | |
774,745 | |||
Pharmaceuticals - 3.4% | |||
Merck & Co., Inc. | 5,738 | 720,349 | |
Zoetis, Inc. Class A | 1,038 | 176,003 | |
896,352 | |||
TOTAL HEALTH CARE | 3,349,139 | ||
INDUSTRIALS - 11.0% | |||
Air Freight & Logistics - 0.8% | |||
United Parcel Service, Inc. Class B | 1,663 | 231,041 | |
Building Products - 1.1% | |||
Johnson Controls International PLC | 3,993 | 287,137 | |
Commercial Services & Supplies - 1.2% | |||
Veralto Corp. | 3,193 | 314,766 | |
Electrical Equipment - 3.5% | |||
Acuity Brands, Inc. | 1,425 | 369,944 | |
Generac Holdings, Inc. (a) | 961 | 141,469 | |
Prysmian SpA | 3,317 | 218,158 | |
Regal Rexnord Corp. | 1,365 | 204,122 | |
933,693 | |||
Machinery - 2.1% | |||
Deere & Co. | 591 | 221,483 | |
Ingersoll Rand, Inc. | 2,080 | 193,544 | |
Timken Co. | 1,608 | 139,719 | |
554,746 | |||
Professional Services - 2.3% | |||
KBR, Inc. | 6,761 | 443,927 | |
ManpowerGroup, Inc. | 2,174 | 162,224 | |
UL Solutions, Inc. Class A | 400 | 15,428 | |
621,579 | |||
TOTAL INDUSTRIALS | 2,942,962 | ||
INFORMATION TECHNOLOGY - 25.7% | |||
IT Services - 1.6% | |||
Accenture PLC Class A | 1,512 | 426,822 | |
Semiconductors & Semiconductor Equipment - 10.1% | |||
Advanced Micro Devices, Inc. (a) | 912 | 152,213 | |
First Solar, Inc. (a) | 784 | 213,060 | |
NVIDIA Corp. | 1,561 | 1,711,371 | |
NXP Semiconductors NV | 551 | 149,927 | |
ON Semiconductor Corp. (a) | 6,450 | 471,108 | |
2,697,679 | |||
Software - 10.8% | |||
Gen Digital, Inc. | 6,331 | 157,199 | |
Intuit, Inc. | 327 | 188,496 | |
Microsoft Corp. | 4,937 | 2,049,495 | |
Salesforce, Inc. | 2,156 | 505,453 | |
2,900,643 | |||
Technology Hardware, Storage & Peripherals - 3.2% | |||
Apple, Inc. | 4,516 | 868,201 | |
TOTAL INFORMATION TECHNOLOGY | 6,893,345 | ||
MATERIALS - 4.2% | |||
Chemicals - 1.9% | |||
Linde PLC | 1,171 | 509,994 | |
Containers & Packaging - 2.3% | |||
Avery Dennison Corp. | 1,606 | 365,510 | |
Crown Holdings, Inc. | 2,951 | 248,445 | |
613,955 | |||
TOTAL MATERIALS | 1,123,949 | ||
REAL ESTATE - 1.2% | |||
Equity Real Estate Investment Trusts (REITs) - 1.2% | |||
Prologis, Inc. | 3,058 | 337,878 | |
UTILITIES - 1.9% | |||
Electric Utilities - 1.3% | |||
NextEra Energy, Inc. | 4,373 | 349,927 | |
Independent Power and Renewable Electricity Producers - 0.6% | |||
Clearway Energy, Inc. Class C | 5,329 | 149,212 | |
TOTAL UTILITIES | 499,139 | ||
TOTAL COMMON STOCKS (Cost $21,720,124) | 26,545,835 | ||
Convertible Preferred Stocks - 0.1% | |||
Shares | Value ($) | ||
HEALTH CARE - 0.1% | |||
Health Care Providers & Services - 0.1% | |||
Somatus, Inc. Series E (a)(b)(c) (Cost $32,287) | 37 | 38,458 | |
Money Market Funds - 1.0% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (d) (Cost $271,902) | 271,848 | 271,902 | |
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $22,024,313) | 26,856,195 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (1,512) |
NET ASSETS - 100.0% | 26,854,683 |
(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 $38,458 or 0.1% of net assets. |
(c) | Level 3 security |
(d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 431,383 | 7,265,730 | 7,425,203 | 27,150 | (8) | - | 271,902 | 0.0% |
Total | 431,383 | 7,265,730 | 7,425,203 | 27,150 | (8) | - | 271,902 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,465,902 | 2,465,902 | - | - |
Consumer Discretionary | 2,938,437 | 2,604,144 | 334,293 | - |
Consumer Staples | 1,447,230 | 1,188,625 | 258,605 | - |
Energy | 1,061,224 | 661,309 | 399,915 | - |
Financials | 3,486,630 | 3,486,630 | - | - |
Health Care | 3,387,597 | 3,349,139 | - | 38,458 |
Industrials | 2,942,962 | 2,724,804 | 218,158 | - |
Information Technology | 6,893,345 | 6,893,345 | - | - |
Materials | 1,123,949 | 1,123,949 | - | - |
Real Estate | 337,878 | 337,878 | - | - |
Utilities | 499,139 | 499,139 | - | - |
Money Market Funds | 271,902 | 271,902 | - | - |
Total Investments in Securities: | 26,856,195 | 25,606,766 | 1,210,971 | 38,458 |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $21,752,411) | $ | 26,584,293 | ||
Fidelity Central Funds (cost $271,902) | 271,902 | |||
Total Investment in Securities (cost $22,024,313) | $ | 26,856,195 | ||
Foreign currency held at value (cost $14) | 14 | |||
Receivable for fund shares sold | 12,118 | |||
Dividends receivable | 14,776 | |||
Distributions receivable from Fidelity Central Funds | 1,430 | |||
Prepaid expenses | 3 | |||
Receivable from investment adviser for expense reductions | 48,174 | |||
Total assets | 26,932,710 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 18,792 | ||
Accrued management fee | 15,169 | |||
Distribution and service plan fees payable | 832 | |||
Audit fee payable | 39,120 | |||
Other payables and accrued expenses | 4,114 | |||
Total liabilities | 78,027 | |||
Net Assets | $ | 26,854,683 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 22,968,385 | ||
Total accumulated earnings (loss) | 3,886,298 | |||
Net Assets | $ | 26,854,683 | ||
Net Asset Value and Maximum Offering Price | ||||
Class A : | ||||
Net Asset Value and redemption price per share ($1,163,203 ÷ 95,186 shares)(a) | $ | 12.22 | ||
Maximum offering price per share (100/94.25 of $12.22) | $ | 12.97 | ||
Class M : | ||||
Net Asset Value and redemption price per share ($423,511 ÷ 34,742 shares)(a) | $ | 12.19 | ||
Maximum offering price per share (100/96.50 of $12.19) | $ | 12.63 | ||
Class C : | ||||
Net Asset Value and offering price per share ($506,466 ÷ 41,986 shares)(a) | $ | 12.06 | ||
Fidelity Sustainable U.S. Equity Fund : | ||||
Net Asset Value, offering price and redemption price per share ($24,204,604 ÷ 1,976,449 shares) | $ | 12.25 | ||
Class I : | ||||
Net Asset Value, offering price and redemption price per share ($192,950 ÷ 15,756 shares) | $ | 12.25 | ||
Class Z : | ||||
Net Asset Value, offering price and redemption price per share ($363,949 ÷ 29,590 shares) | $ | 12.30 | ||
(a)Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 280,629 | ||
Income from Fidelity Central Funds | 27,150 | |||
Total income | 307,779 | |||
Expenses | ||||
Management fee | ||||
Basic fee | $ | 127,983 | ||
Performance adjustment | 336 | |||
Transfer agent fees | 36,751 | |||
Distribution and service plan fees | 8,314 | |||
Accounting fees and expenses | 5,655 | |||
Custodian fees and expenses | 3,709 | |||
Independent trustees' fees and expenses | 105 | |||
Registration fees | 81,755 | |||
Audit | 52,118 | |||
Legal | 11 | |||
Miscellaneous | 1,659 | |||
Total expenses before reductions | 318,396 | |||
Expense reductions | (108,263) | |||
Total expenses after reductions | 210,133 | |||
Net Investment income (loss) | 97,646 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 572,127 | |||
Fidelity Central Funds | (8) | |||
Foreign currency transactions | 839 | |||
Total net realized gain (loss) | 572,958 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 4,666,723 | |||
Assets and liabilities in foreign currencies | 66 | |||
Total change in net unrealized appreciation (depreciation) | 4,666,789 | |||
Net gain (loss) | 5,239,747 | |||
Net increase (decrease) in net assets resulting from operations | $ | 5,337,393 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 97,646 | $ | 126,401 |
Net realized gain (loss) | 572,958 | (1,069,431) | ||
Change in net unrealized appreciation (depreciation) | 4,666,789 | 1,611,360 | ||
Net increase (decrease) in net assets resulting from operations | 5,337,393 | 668,330 | ||
Distributions to shareholders | (90,017) | (108,305) | ||
Share transactions - net increase (decrease) | 3,790,425 | 1,194,089 | ||
Total increase (decrease) in net assets | 9,037,801 | 1,754,114 | ||
Net Assets | ||||
Beginning of period | 17,816,882 | 16,062,768 | ||
End of period | $ | 26,854,683 | $ | 17,816,882 |
Fidelity Advisor® Sustainable U.S. Equity Fund Class A |
Years ended May 31, | 2024 | 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 | .02 | .05 D | - E | |||
Net realized and unrealized gain (loss) | 2.53 | .31 | (.58) | |||
Total from investment operations | 2.55 | .36 | (.58) | |||
Distributions from net investment income | (.03) | (.04) | - | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.03) | (.04) | (.04) | |||
Net asset value, end of period | $ | 12.22 | $ | 9.70 | $ | 9.38 |
Total Return F,G,H | 26.27 % | 3.90% | (5.87)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.65% | 1.97% | 3.52% K | |||
Expenses net of fee waivers, if any | 1.15 % | 1.15% | 1.14% K | |||
Expenses net of all reductions | 1.15% | 1.15% | 1.14% K | |||
Net investment income (loss) | .22% | .56% D | -% K,L | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 1,163 | $ | 642 | $ | 633 |
Portfolio turnover rate M | 45 % | 37% | 55% K |
Fidelity Advisor® Sustainable U.S. Equity Fund Class M |
Years ended May 31, | 2024 | 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) | 2.51 | .31 | (.59) | |||
Total from investment operations | 2.51 | .34 | (.61) | |||
Distributions from net investment income | - D | (.03) | - | |||
Distributions from net realized gain | - | - | (.02) | |||
Total distributions | - D | (.03) | (.02) | |||
Net asset value, end of period | $ | 12.19 | $ | 9.68 | $ | 9.37 |
Total Return F,G,H | 25.95 % | 3.66% | (6.10)% | |||
Ratios to Average Net Assets C,I,J | ||||||
Expenses before reductions | 1.89% | 2.19% | 4.05% K | |||
Expenses net of fee waivers, if any | 1.40 % | 1.40% | 1.39% K | |||
Expenses net of all reductions | 1.40% | 1.40% | 1.39% K | |||
Net investment income (loss) | (.03)% | .31% E | (.26)% K | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 424 | $ | 351 | $ | 258 |
Portfolio turnover rate L | 45 % | 37% | 55% K |
Fidelity Advisor® Sustainable U.S. Equity Fund Class C |
Years ended May 31, | 2024 | 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 | (.06) | (.02) D | (.07) | |||
Net realized and unrealized gain (loss) | 2.50 | .31 | (.58) | |||
Total from investment operations | 2.44 | .29 | (.65) | |||
Distributions from net investment income | - | (.01) | - | |||
Distributions from net realized gain | - | - | (.01) | |||
Total distributions | - | (.01) | (.01) | |||
Net asset value, end of period | $ | 12.06 | $ | 9.62 | $ | 9.34 |
Total Return E,F,G | 25.36 % | 3.07% | (6.53)% | |||
Ratios to Average Net Assets C,H,I | ||||||
Expenses before reductions | 2.38% | 2.71% | 4.65% J | |||
Expenses net of fee waivers, if any | 1.90 % | 1.90% | 1.89% J | |||
Expenses net of all reductions | 1.90% | 1.90% | 1.89% J | |||
Net investment income (loss) | (.53)% | (.20)% D | (.75)% J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 506 | $ | 305 | $ | 273 |
Portfolio turnover rate K | 45 % | 37% | 55% J |
Fidelity® Sustainable U.S. Equity Fund |
Years ended May 31, | 2024 | 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 | .05 | .07 D | .02 | |||
Net realized and unrealized gain (loss) | 2.53 | .31 | (.57) | |||
Total from investment operations | 2.58 | .38 | (.55) | |||
Distributions from net investment income | (.05) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.05) | (.06) | (.05) | |||
Net asset value, end of period | $ | 12.25 | $ | 9.72 | $ | 9.40 |
Total Return E,F | 26.58 % | 4.14% | (5.58)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.38% | 1.70% | 3.21% I | |||
Expenses net of fee waivers, if any | .90 % | .90% | .89% I | |||
Expenses net of all reductions | .90% | .90% | .89% I | |||
Net investment income (loss) | .47% | .80% D | .24% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 24,205 | $ | 16,265 | $ | 14,669 |
Portfolio turnover rate J | 45 % | 37% | 55% I |
Fidelity Advisor® Sustainable U.S. Equity Fund Class I |
Years ended May 31, | 2024 | 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 | .05 | .07 D | .02 | |||
Net realized and unrealized gain (loss) | 2.53 | .31 | (.57) | |||
Total from investment operations | 2.58 | .38 | (.55) | |||
Distributions from net investment income | (.05) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.05) | (.06) | (.05) | |||
Net asset value, end of period | $ | 12.25 | $ | 9.72 | $ | 9.40 |
Total Return E,F | 26.58 % | 4.14% | (5.58)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.27% | 1.58% | 3.76% I | |||
Expenses net of fee waivers, if any | .90 % | .90% | .90% I | |||
Expenses net of all reductions | .90% | .90% | .90% I | |||
Net investment income (loss) | .47% | .80% D | .24% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 193 | $ | 124 | $ | 116 |
Portfolio turnover rate J | 45 % | 37% | 55% I |
Fidelity Advisor® Sustainable U.S. Equity Fund Class Z |
Years ended May 31, | 2024 | 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 | .07 | .09 D | .04 | |||
Net realized and unrealized gain (loss) | 2.54 | .30 | (.58) | |||
Total from investment operations | 2.61 | .39 | (.54) | |||
Distributions from net investment income | (.05) | (.06) | (.01) | |||
Distributions from net realized gain | - | - | (.04) | |||
Total distributions | (.05) | (.06) | (.05) | |||
Net asset value, end of period | $ | 12.30 | $ | 9.74 | $ | 9.41 |
Total Return E,F | 26.83 % | 4.24% | (5.48)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | 1.21% | 1.51% | 3.72% I | |||
Expenses net of fee waivers, if any | .75 % | .75% | .75% I | |||
Expenses net of all reductions | .75% | .75% | .75% I | |||
Net investment income (loss) | .62% | .96% D | .39% I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 364 | $ | 130 | $ | 113 |
Portfolio turnover rate J | 45 % | 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 | $5,563,166 |
Gross unrealized depreciation | (856,573) |
Net unrealized appreciation (depreciation) | $4,706,593 |
Tax Cost | $22,149,602 |
Undistributed ordinary income | $30,647 |
Undistributed Gains | $220,798 |
Capital loss carryforward | $(1,071,840) |
Net unrealized appreciation (depreciation) on securities and other investments | $4,706,693 |
Short-term | $(723,468) |
Long-term | (348,372) |
Total capital loss carryforward | $(1,071,840) |
May 31, 2024 | May 31, 2023 | |
Ordinary Income | $90,017 | $ 108,305 |
Purchases ($) | Sales ($) | |
Fidelity Sustainable U.S. Equity Fund | 13,812,072 | 9,827,678 |
Maximum Management Fee Rate % | |
Class A | .72 |
Class M | .72 |
Class C | .72 |
Fidelity Sustainable U.S. Equity Fund | .72 |
Class I | .65 |
Class Z | .56 |
Total Management Fee Rate % | |
Class A | .72 |
Class M | .72 |
Class C | .72 |
Fidelity Sustainable U.S. Equity Fund | .68 |
Class I | .65 |
Class Z | .56 |
Performance Adjustment Index | |
Fidelity Sustainable U.S. Equity Fund | Russell 3000 Index |
Distribution Fee | Service Fee | Total Fees ($) | Retained by FDC ($) | |
Class A | -% | .25% | 2,245 | 458 |
Class M | .25% | .25% | 1,908 | 477 |
Class C | .75% | .25% | 4,161 | 1,381 |
8,314 | 2,316 |
Retained by FDC ($) | |
Class A | 1,816 |
Class M | 134 |
Class CA | 4 |
1,954 |
% of Class-Level Average Net Assets | |
Class A | .2000 |
Class M | .2000 |
Class C | .2000 |
Fidelity Sustainable U.S. Equity Fund | .2000 |
Class I | .1317 |
Amount ($) | % of Class-Level Average Net Assets | |
Class A | 1,482 | .24 |
Class M | 663 | .24 |
Class C | 679 | .23 |
Fidelity Sustainable U.S. Equity Fund | 33,693 | .23 |
Class I | 165 | .13 |
Class Z | 69 | .04 |
36,751 |
% of Average Net Assets | |
Fidelity Sustainable U.S. Equity Fund | .0354 |
% of Average Net Assets | |
Fidelity Sustainable U.S. Equity Fund | .04 |
Amount ($) | |
Fidelity Sustainable U.S. Equity Fund | 109 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Sustainable U.S. Equity Fund | 534,767 | 953,782 | 84,931 |
Amount ($) | |
Fidelity Sustainable U.S. Equity Fund | 38 |
Expense Limitations | Reimbursement ($) | |
Class A | 1.15% | 4,404 |
Class M | 1.40% | 1,859 |
Class C | 1.90% | 1,982 |
Fidelity Sustainable U.S. Equity Fund | .90% | 96,124 |
Class I | .90% | 624 |
Class Z | .75% | 1,148 |
$106,141 |
Year ended May 31, 2024 | Year ended May 31, 2023 | |
Fidelity Sustainable U.S. Equity Fund | ||
Distributions to shareholders | ||
Class A | $2,031 | $2,967 |
Class M | 69 | 1,064 |
Class C | - | 201 |
Fidelity Sustainable U.S. Equity Fund | 86,166 | 102,541 |
Class I | 775 | 778 |
Class Z | 976 | 754 |
Total | $90,017 | $108,305 |
Shares | Shares | Dollars | Dollars | |
Year ended May 31, 2024 | Year ended May 31, 2023 | Year ended May 31, 2024 | Year ended May 31, 2023 | |
Fidelity Sustainable U.S. Equity Fund | ||||
Class A | ||||
Shares sold | 39,427 | 29,639 | $424,084 | $276,421 |
Reinvestment of distributions | 189 | 334 | 2,031 | 2,967 |
Shares redeemed | (10,614) | (31,294) | (116,524) | (282,276) |
Net increase (decrease) | 29,002 | (1,321) | $309,591 | $(2,888) |
Class M | ||||
Shares sold | 7,112 | 9,821 | $76,164 | $88,021 |
Reinvestment of distributions | 6 | 120 | 69 | 1,064 |
Shares redeemed | (8,633) | (1,245) | (90,889) | (11,576) |
Net increase (decrease) | (1,515) | 8,696 | $(14,656) | $77,509 |
Class C | ||||
Shares sold | 17,564 | 9,716 | $182,141 | $89,433 |
Reinvestment of distributions | - | 23 | - | 201 |
Shares redeemed | (7,311) | (7,231) | (82,022) | (68,668) |
Net increase (decrease) | 10,253 | 2,508 | $100,119 | $20,966 |
Fidelity Sustainable U.S. Equity Fund | ||||
Shares sold | 854,158 | 645,911 | $9,116,739 | $5,923,495 |
Reinvestment of distributions | 6,965 | 10,196 | 74,785 | 90,609 |
Shares redeemed | (558,573) | (543,016) | (5,995,611) | (4,932,160) |
Net increase (decrease) | 302,550 | 113,091 | $3,195,913 | $1,081,944 |
Class I | ||||
Shares sold | 11,978 | 284 | $125,769 | $2,705 |
Reinvestment of distributions | 55 | 88 | 590 | 778 |
Shares redeemed | (8,991) | - | (101,667) | - |
Net increase (decrease) | 3,042 | 372 | $24,692 | $3,483 |
Class Z | ||||
Shares sold | 16,588 | 1,977 | $179,201 | $18,587 |
Reinvestment of distributions | 64 | 85 | 685 | 754 |
Shares redeemed | (443) | (690) | (5,120) | (6,266) |
Net increase (decrease) | 16,209 | 1,372 | $174,766 | $13,075 |
Contents
Common Stocks - 98.0% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.8% | |||
Diversified Telecommunication Services - 0.6% | |||
AT&T, Inc. | 36,375 | 662,753 | |
Cellnex Telecom SA (a) | 2,870 | 104,841 | |
767,594 | |||
Entertainment - 1.7% | |||
Capcom Co. Ltd. | 6,386 | 117,759 | |
Netflix, Inc. (b) | 1,021 | 655,094 | |
Roku, Inc. Class A (b) | 1,263 | 72,496 | |
Sea Ltd. ADR (b) | 5,380 | 363,258 | |
Spotify Technology SA (b) | 395 | 117,228 | |
Take-Two Interactive Software, Inc. (b) | 637 | 102,149 | |
The Walt Disney Co. | 7,036 | 731,111 | |
Ubisoft Entertainment SA (b) | 3,140 | 76,791 | |
2,235,886 | |||
Interactive Media & Services - 7.1% | |||
Alphabet, Inc. Class A | 28,524 | 4,920,390 | |
Match Group, Inc. (b) | 3,146 | 96,362 | |
Meta Platforms, Inc. Class A | 8,261 | 3,856,483 | |
Pinterest, Inc. Class A (b) | 4,365 | 181,104 | |
Snap, Inc. Class A (b) | 17,295 | 259,771 | |
9,314,110 | |||
Media - 0.4% | |||
Charter Communications, Inc. Class A (b) | 673 | 193,232 | |
Comcast Corp. Class A | 5,448 | 218,083 | |
Ibotta, Inc. | 612 | 59,444 | |
Paramount Global Class B | 6,533 | 77,808 | |
548,567 | |||
TOTAL COMMUNICATION SERVICES | 12,866,157 | ||
CONSUMER DISCRETIONARY - 10.4% | |||
Automobile Components - 0.3% | |||
Aptiv PLC (b) | 2,566 | 213,645 | |
Lear Corp. | 1,271 | 159,320 | |
372,965 | |||
Automobiles - 0.9% | |||
Tesla, Inc. (b) | 6,641 | 1,182,629 | |
Broadline Retail - 4.4% | |||
Amazon.com, Inc. (b) | 31,955 | 5,638,140 | |
Etsy, Inc. (b) | 1,341 | 85,113 | |
5,723,253 | |||
Distributors - 0.1% | |||
LKQ Corp. | 3,793 | 163,213 | |
Hotels, Restaurants & Leisure - 2.1% | |||
Airbnb, Inc. Class A (b) | 1,612 | 233,627 | |
Booking Holdings, Inc. | 139 | 524,913 | |
Domino's Pizza, Inc. | 418 | 212,586 | |
Flutter Entertainment PLC (b) | 1,181 | 227,265 | |
Marriott International, Inc. Class A | 1,654 | 382,355 | |
McDonald's Corp. | 738 | 191,061 | |
Restaurant Brands International, Inc. | 5,015 | 343,888 | |
Starbucks Corp. | 3,178 | 254,939 | |
Yum! Brands, Inc. | 2,799 | 384,667 | |
2,755,301 | |||
Household Durables - 0.1% | |||
D.R. Horton, Inc. | 463 | 68,431 | |
Mohawk Industries, Inc. (b) | 894 | 109,005 | |
177,436 | |||
Leisure Products - 0.1% | |||
Brunswick Corp. | 1,564 | 129,077 | |
Specialty Retail - 1.7% | |||
Burlington Stores, Inc. (b) | 461 | 110,663 | |
Foot Locker, Inc. | 2,034 | 56,403 | |
Lowe's Companies, Inc. | 3,806 | 842,230 | |
The Home Depot, Inc. | 1,027 | 343,911 | |
TJX Companies, Inc. | 7,435 | 766,549 | |
Valvoline, Inc. (b) | 4,212 | 171,007 | |
2,290,763 | |||
Textiles, Apparel & Luxury Goods - 0.7% | |||
NIKE, Inc. Class B | 4,739 | 450,442 | |
PVH Corp. | 1,374 | 164,894 | |
Tapestry, Inc. | 5,304 | 230,671 | |
846,007 | |||
TOTAL CONSUMER DISCRETIONARY | 13,640,644 | ||
CONSUMER STAPLES - 5.6% | |||
Beverages - 1.3% | |||
Constellation Brands, Inc. Class A (sub. vtg.) | 2,325 | 581,785 | |
The Coca-Cola Co. | 19,387 | 1,220,024 | |
1,801,809 | |||
Consumer Staples Distribution & Retail - 2.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 4,185 | 244,262 | |
Costco Wholesale Corp. | 1,022 | 827,708 | |
Dollar General Corp. | 2,814 | 385,265 | |
U.S. Foods Holding Corp. (b) | 3,013 | 159,177 | |
Walmart, Inc. | 19,355 | 1,272,785 | |
2,889,197 | |||
Food Products - 0.1% | |||
Bunge Global SA | 1,037 | 111,571 | |
Household Products - 1.7% | |||
Colgate-Palmolive Co. | 6,644 | 617,626 | |
Procter & Gamble Co. | 9,629 | 1,584,356 | |
2,201,982 | |||
Personal Care Products - 0.3% | |||
BellRing Brands, Inc. (b) | 3,809 | 221,570 | |
Estee Lauder Companies, Inc. Class A | 1,583 | 195,279 | |
416,849 | |||
TOTAL CONSUMER STAPLES | 7,421,408 | ||
ENERGY - 2.9% | |||
Energy Equipment & Services - 0.5% | |||
Expro Group Holdings NV (b) | 11,201 | 245,862 | |
Weatherford International PLC (b) | 3,170 | 381,478 | |
627,340 | |||
Oil, Gas & Consumable Fuels - 2.4% | |||
Galp Energia SGPS SA Class B | 21,667 | 455,638 | |
Hess Corp. | 2,872 | 442,575 | |
Kosmos Energy Ltd. (b) | 52,304 | 319,054 | |
MEG Energy Corp. (b) | 10,447 | 226,807 | |
Phillips 66 Co. | 3,546 | 503,922 | |
Shell PLC ADR | 8,447 | 614,773 | |
Valero Energy Corp. | 3,724 | 585,189 | |
3,147,958 | |||
TOTAL ENERGY | 3,775,298 | ||
FINANCIALS - 12.5% | |||
Banks - 4.8% | |||
Bank of America Corp. | 26,210 | 1,048,138 | |
Citigroup, Inc. | 10,318 | 642,915 | |
Citizens Financial Group, Inc. | 5,344 | 188,590 | |
Eurobank Ergasias Services and Holdings SA ADR (b) | 142,187 | 147,164 | |
HDFC Bank Ltd. sponsored ADR | 1,352 | 78,267 | |
JPMorgan Chase & Co. | 10,228 | 2,072,500 | |
KeyCorp | 16,240 | 233,369 | |
M&T Bank Corp. | 1,776 | 269,242 | |
Pathward Financial, Inc. | 1,693 | 90,254 | |
Piraeus Financial Holdings SA (b) | 18,337 | 72,038 | |
PNC Financial Services Group, Inc. | 2,821 | 443,997 | |
UMB Financial Corp. | 1,278 | 105,358 | |
Wells Fargo & Co. | 15,429 | 924,506 | |
6,316,338 | |||
Capital Markets - 3.0% | |||
Bank of New York Mellon Corp. | 7,481 | 445,942 | |
BlackRock, Inc. Class A | 480 | 370,574 | |
Cboe Global Markets, Inc. | 1,735 | 300,138 | |
CVC Capital Partners PLC (a) | 3,405 | 66,167 | |
Intercontinental Exchange, Inc. | 3,510 | 469,989 | |
London Stock Exchange Group PLC | 1,248 | 146,286 | |
LPL Financial | 1,161 | 332,290 | |
MarketAxess Holdings, Inc. | 1,542 | 306,750 | |
Moody's Corp. | 821 | 325,929 | |
Morgan Stanley | 7,287 | 712,960 | |
Northern Trust Corp. | 300 | 25,272 | |
State Street Corp. | 3,504 | 264,867 | |
Tradeweb Markets, Inc. Class A | 1,549 | 168,856 | |
3,936,020 | |||
Consumer Finance - 0.4% | |||
Discover Financial Services | 3,052 | 374,358 | |
OneMain Holdings, Inc. | 2,388 | 117,299 | |
491,657 | |||
Financial Services - 2.0% | |||
Apollo Global Management, Inc. | 4,791 | 556,523 | |
Global Payments, Inc. | 2,560 | 260,736 | |
PayPal Holdings, Inc. (b) | 1,975 | 124,405 | |
Visa, Inc. Class A | 5,854 | 1,594,981 | |
Voya Financial, Inc. | 1,597 | 121,085 | |
2,657,730 | |||
Insurance - 2.3% | |||
Arthur J. Gallagher & Co. | 1,717 | 434,968 | |
Chubb Ltd. | 2,379 | 644,281 | |
Everest Re Group Ltd. | 467 | 182,564 | |
Globe Life, Inc. | 2,243 | 185,631 | |
Hartford Financial Services Group, Inc. | 3,915 | 405,007 | |
Marsh & McLennan Companies, Inc. | 2,411 | 500,475 | |
Progressive Corp. | 1,835 | 387,515 | |
Prudential PLC | 6,585 | 63,076 | |
Unum Group | 3,183 | 171,436 | |
2,974,953 | |||
TOTAL FINANCIALS | 16,376,698 | ||
HEALTH CARE - 12.0% | |||
Biotechnology - 1.8% | |||
AbbVie, Inc. | 2,448 | 394,716 | |
Alnylam Pharmaceuticals, Inc. (b) | 1,634 | 242,535 | |
Cytokinetics, Inc. (b) | 4,426 | 214,705 | |
Exact Sciences Corp. (b) | 4,789 | 217,660 | |
Merus BV (b) | 1,075 | 57,233 | |
Regeneron Pharmaceuticals, Inc. (b) | 741 | 726,299 | |
Vaxcyte, Inc. (b) | 3,320 | 233,296 | |
Viridian Therapeutics, Inc. (b) | 5,157 | 61,626 | |
Xenon Pharmaceuticals, Inc. (b) | 4,477 | 170,439 | |
2,318,509 | |||
Health Care Equipment & Supplies - 3.2% | |||
Atricure, Inc. (b) | 5,360 | 120,814 | |
Boston Scientific Corp. (b) | 24,131 | 1,823,580 | |
Edwards Lifesciences Corp. (b) | 3,873 | 336,525 | |
Glaukos Corp. (b) | 2,574 | 290,141 | |
Inspire Medical Systems, Inc. (b) | 1,233 | 195,788 | |
Insulet Corp. (b) | 1,869 | 331,168 | |
Intuitive Surgical, Inc. (b) | 752 | 302,394 | |
Masimo Corp. (b) | 1,764 | 219,618 | |
Penumbra, Inc. (b) | 1,112 | 210,691 | |
Stryker Corp. | 1,289 | 439,665 | |
4,270,384 | |||
Health Care Providers & Services - 2.7% | |||
Centene Corp. (b) | 5,561 | 398,112 | |
Cigna Group | 1,626 | 560,352 | |
CVS Health Corp. | 7,420 | 442,232 | |
LifeStance Health Group, Inc. (b) | 34,999 | 194,944 | |
Molina Healthcare, Inc. (b) | 336 | 105,699 | |
UnitedHealth Group, Inc. | 3,719 | 1,842,281 | |
3,543,620 | |||
Health Care Technology - 0.3% | |||
Evolent Health, Inc. Class A (b) | 4,487 | 95,080 | |
Phreesia, Inc. (b) | 6,385 | 120,804 | |
Veeva Systems, Inc. Class A (b) | 1,103 | 192,198 | |
408,082 | |||
Life Sciences Tools & Services - 1.5% | |||
Danaher Corp. | 4,571 | 1,173,833 | |
IQVIA Holdings, Inc. (b) | 1,301 | 285,036 | |
Thermo Fisher Scientific, Inc. | 813 | 461,768 | |
1,920,637 | |||
Pharmaceuticals - 2.5% | |||
AstraZeneca PLC (United Kingdom) | 1,585 | 246,387 | |
Eli Lilly & Co. | 1,897 | 1,556,185 | |
Merck & Co., Inc. | 9,093 | 1,141,535 | |
Royalty Pharma PLC | 3,881 | 106,378 | |
UCB SA | 1,762 | 247,157 | |
3,297,642 | |||
TOTAL HEALTH CARE | 15,758,874 | ||
INDUSTRIALS - 8.4% | |||
Aerospace & Defense - 2.3% | |||
General Electric Co. | 6,418 | 1,059,869 | |
Howmet Aerospace, Inc. | 6,508 | 550,902 | |
Lockheed Martin Corp. | 1,564 | 735,612 | |
Northrop Grumman Corp. | 784 | 353,404 | |
RTX Corp. | 3,183 | 343,159 | |
3,042,946 | |||
Air Freight & Logistics - 0.2% | |||
FedEx Corp. | 909 | 230,850 | |
Building Products - 0.8% | |||
Trane Technologies PLC | 3,304 | 1,081,928 | |
Construction & Engineering - 0.2% | |||
Quanta Services, Inc. | 1,069 | 294,980 | |
Electrical Equipment - 1.1% | |||
AMETEK, Inc. | 4,875 | 826,703 | |
Eaton Corp. PLC | 1,929 | 642,068 | |
1,468,771 | |||
Ground Transportation - 1.2% | |||
CSX Corp. | 11,113 | 375,064 | |
Old Dominion Freight Lines, Inc. | 2,691 | 471,598 | |
Uber Technologies, Inc. (b) | 4,675 | 301,818 | |
Union Pacific Corp. | 1,534 | 357,146 | |
1,505,626 | |||
Machinery - 2.4% | |||
Caterpillar, Inc. | 1,811 | 613,060 | |
Deere & Co. | 621 | 232,726 | |
Fortive Corp. | 6,993 | 520,559 | |
Ingersoll Rand, Inc. | 8,956 | 833,356 | |
Parker Hannifin Corp. | 1,866 | 991,816 | |
3,191,517 | |||
Passenger Airlines - 0.1% | |||
Delta Air Lines, Inc. | 1,396 | 71,224 | |
Professional Services - 0.1% | |||
Dun & Bradstreet Holdings, Inc. | 18,843 | 180,704 | |
TOTAL INDUSTRIALS | 11,068,546 | ||
INFORMATION TECHNOLOGY - 28.9% | |||
IT Services - 0.7% | |||
Capgemini SA | 1,160 | 235,018 | |
EPAM Systems, Inc. (b) | 1,000 | 177,930 | |
MongoDB, Inc. Class A (b) | 1,270 | 299,796 | |
Twilio, Inc. Class A (b) | 3,051 | 175,127 | |
887,871 | |||
Semiconductors & Semiconductor Equipment - 11.2% | |||
Advanced Micro Devices, Inc. (b) | 3,465 | 578,309 | |
ASML Holding NV (Netherlands) | 683 | 653,475 | |
Astera Labs, Inc. | 2,671 | 172,386 | |
Lattice Semiconductor Corp. (b) | 3,029 | 224,873 | |
Marvell Technology, Inc. | 166 | 11,422 | |
Micron Technology, Inc. | 9,934 | 1,241,750 | |
NVIDIA Corp. | 8,601 | 9,429,534 | |
NXP Semiconductors NV | 780 | 212,238 | |
ON Semiconductor Corp. (b) | 7,196 | 525,596 | |
Renesas Electronics Corp. | 16,268 | 299,764 | |
SolarEdge Technologies, Inc. (b) | 4,791 | 234,711 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 7,335 | 1,107,878 | |
14,691,936 | |||
Software - 12.5% | |||
Adobe, Inc. (b) | 2,450 | 1,089,662 | |
Autodesk, Inc. (b) | 2,023 | 407,837 | |
Elastic NV (b) | 2,236 | 232,656 | |
HubSpot, Inc. (b) | 779 | 476,008 | |
Intuit, Inc. | 1,339 | 771,853 | |
Microsoft Corp. | 27,624 | 11,467,546 | |
Salesforce, Inc. | 4,552 | 1,067,171 | |
Synopsys, Inc. (b) | 1,031 | 578,185 | |
Tenable Holdings, Inc. (b) | 3,003 | 126,697 | |
Workday, Inc. Class A (b) | 1,189 | 251,414 | |
16,469,029 | |||
Technology Hardware, Storage & Peripherals - 4.5% | |||
Apple, Inc. | 30,521 | 5,867,662 | |
TOTAL INFORMATION TECHNOLOGY | 37,916,498 | ||
MATERIALS - 2.9% | |||
Chemicals - 2.3% | |||
Air Products & Chemicals, Inc. | 883 | 235,496 | |
Axalta Coating Systems Ltd. (b) | 5,563 | 197,987 | |
Corteva, Inc. | 6,523 | 364,897 | |
Dow, Inc. | 7,373 | 424,906 | |
Ecolab, Inc. | 1,476 | 342,727 | |
Element Solutions, Inc. | 7,615 | 182,988 | |
Linde PLC | 1,788 | 778,710 | |
LyondellBasell Industries NV Class A | 3,026 | 300,845 | |
Olin Corp. | 2,837 | 152,517 | |
The Chemours Co. LLC | 5,022 | 124,646 | |
3,105,719 | |||
Containers & Packaging - 0.1% | |||
Aptargroup, Inc. | 704 | 103,974 | |
Metals & Mining - 0.5% | |||
First Quantum Minerals Ltd. | 15,305 | 196,625 | |
Franco-Nevada Corp. | 1,847 | 227,245 | |
Nucor Corp. | 1,497 | 252,768 | |
676,638 | |||
TOTAL MATERIALS | 3,886,331 | ||
REAL ESTATE - 2.3% | |||
Equity Real Estate Investment Trusts (REITs) - 2.3% | |||
Alexandria Real Estate Equities, Inc. | 629 | 74,851 | |
American Tower Corp. | 1,795 | 351,353 | |
COPT Defense Properties (SBI) | 1,438 | 35,475 | |
Crown Castle, Inc. | 1,803 | 184,808 | |
CubeSmart | 3,908 | 165,347 | |
Digital Realty Trust, Inc. | 849 | 123,394 | |
Equinix, Inc. | 402 | 306,718 | |
Essex Property Trust, Inc. | 406 | 105,475 | |
Mid-America Apartment Communities, Inc. | 842 | 112,584 | |
Omega Healthcare Investors, Inc. | 2,356 | 76,169 | |
Prologis, Inc. | 3,576 | 395,112 | |
Public Storage | 744 | 203,730 | |
Simon Property Group, Inc. | 1,691 | 255,865 | |
Sun Communities, Inc. | 1,322 | 155,983 | |
Ventas, Inc. | 3,766 | 189,279 | |
Welltower, Inc. | 2,630 | 272,652 | |
3,008,795 | |||
UTILITIES - 2.3% | |||
Electric Utilities - 1.5% | |||
American Electric Power Co., Inc. | 962 | 86,821 | |
Edison International | 3,732 | 286,804 | |
Eversource Energy | 3,595 | 212,932 | |
FirstEnergy Corp. | 3,348 | 134,790 | |
NextEra Energy, Inc. | 7,623 | 609,992 | |
NRG Energy, Inc. | 1,517 | 122,877 | |
PG&E Corp. | 21,703 | 402,374 | |
PPL Corp. | 5,261 | 154,305 | |
2,010,895 | |||
Independent Power and Renewable Electricity Producers - 0.3% | |||
The AES Corp. | 7,815 | 168,726 | |
Vistra Corp. | 2,138 | 211,833 | |
380,559 | |||
Multi-Utilities - 0.5% | |||
NiSource, Inc. | 4,314 | 125,365 | |
Public Service Enterprise Group, Inc. | 2,137 | 161,899 | |
Sempra | 5,325 | 410,185 | |
697,449 | |||
TOTAL UTILITIES | 3,088,903 | ||
TOTAL COMMON STOCKS (Cost $113,875,443) | 128,808,152 | ||
Money Market Funds - 1.3% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (c) (Cost $1,762,155) | 1,761,803 | 1,762,155 | |
Equity Funds - 0.9% | |||
Shares | Value ($) | ||
Domestic Equity Funds - 0.9% | |||
iShares ESG Aware MSCI U.S.A. ETF (Cost $1,142,285) | 9,900 | 1,143,648 | |
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $116,779,883) | 131,713,955 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (328,235) |
NET ASSETS - 100.0% | 131,385,720 |
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 $171,008 or 0.1% of net assets. |
(b) | Non-income producing |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.39% | 128,396 | 38,467,114 | 36,833,425 | 52,863 | 70 | - | 1,762,155 | 0.0% |
Total | 128,396 | 38,467,114 | 36,833,425 | 52,863 | 70 | - | 1,762,155 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 12,866,157 | 12,684,525 | 181,632 | - |
Consumer Discretionary | 13,640,644 | 13,413,379 | 227,265 | - |
Consumer Staples | 7,421,408 | 7,421,408 | - | - |
Energy | 3,775,298 | 3,319,660 | 455,638 | - |
Financials | 16,376,698 | 16,029,131 | 347,567 | - |
Health Care | 15,758,874 | 15,265,330 | 493,544 | - |
Industrials | 11,068,546 | 11,068,546 | - | - |
Information Technology | 37,916,498 | 36,728,241 | 1,188,257 | - |
Materials | 3,886,331 | 3,886,331 | - | - |
Real Estate | 3,008,795 | 3,008,795 | - | - |
Utilities | 3,088,903 | 3,088,903 | - | - |
Money Market Funds | 1,762,155 | 1,762,155 | - | - |
Equity Funds | 1,143,648 | 1,143,648 | - | - |
Total Investments in Securities: | 131,713,955 | 128,820,052 | 2,893,903 | - |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $115,017,728) | $ | 129,951,800 | ||
Fidelity Central Funds (cost $1,762,155) | 1,762,155 | |||
Total Investment in Securities (cost $116,779,883) | $ | 131,713,955 | ||
Foreign currency held at value (cost $8,406) | 8,406 | |||
Receivable for investments sold | 168,854 | |||
Receivable for fund shares sold | 1,135,666 | |||
Dividends receivable | 90,014 | |||
Distributions receivable from Fidelity Central Funds | 9,095 | |||
Prepaid expenses | 2 | |||
Total assets | 133,125,992 | |||
Liabilities | ||||
Payable to custodian bank | $ | 789 | ||
Payable for investments purchased | 1,649,935 | |||
Payable for fund shares redeemed | 2,582 | |||
Accrued management fee | 44,276 | |||
Other payables and accrued expenses | 42,690 | |||
Total liabilities | 1,740,272 | |||
Net Assets | $ | 131,385,720 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 115,748,974 | ||
Total accumulated earnings (loss) | 15,636,746 | |||
Net Assets | $ | 131,385,720 | ||
Net Asset Value, offering price and redemption price per share ($131,385,720 ÷ 10,347,874 shares) | $ | 12.70 |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 623,385 | ||
Interest | 12 | |||
Income from Fidelity Central Funds | 52,863 | |||
Total income | 676,260 | |||
Expenses | ||||
Management fee | $ | 222,292 | ||
Custodian fees and expenses | 10,250 | |||
Independent trustees' fees and expenses | 183 | |||
Registration fees | 36,185 | |||
Audit | 44,516 | |||
Legal | 495 | |||
Miscellaneous | 829 | |||
Total expenses before reductions | 314,750 | |||
Expense reductions | (47,221) | |||
Total expenses after reductions | 267,529 | |||
Net Investment income (loss) | 408,731 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 595,945 | |||
Fidelity Central Funds | 70 | |||
Foreign currency transactions | (927) | |||
Total net realized gain (loss) | 595,088 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 14,029,179 | |||
Assets and liabilities in foreign currencies | (23) | |||
Total change in net unrealized appreciation (depreciation) | 14,029,156 | |||
Net gain (loss) | 14,624,244 | |||
Net increase (decrease) in net assets resulting from operations | $ | 15,032,975 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 408,731 | $ | 57,936 |
Net realized gain (loss) | 595,088 | (125,325) | ||
Change in net unrealized appreciation (depreciation) | 14,029,156 | 1,030,311 | ||
Net increase (decrease) in net assets resulting from operations | 15,032,975 | 962,922 | ||
Distributions to shareholders | (178,475) | (19,946) | ||
Share transactions | ||||
Proceeds from sales of shares | 112,118,070 | 11,019,872 | ||
Reinvestment of distributions | 161,519 | 19,506 | ||
Cost of shares redeemed | (8,403,793) | (1,202,039) | ||
Net increase (decrease) in net assets resulting from share transactions | 103,875,796 | 9,837,339 | ||
Total increase (decrease) in net assets | 118,730,296 | 10,780,315 | ||
Net Assets | ||||
Beginning of period | 12,655,424 | 1,875,109 | ||
End of period | $ | 131,385,720 | $ | 12,655,424 |
Other Information | ||||
Shares | ||||
Sold | 9,766,272 | 1,219,472 | ||
Issued in reinvestment of distributions | 14,674 | 2,203 | ||
Redeemed | (725,871) | (129,354) | ||
Net increase (decrease) | 9,055,075 | 1,092,321 | ||
Fidelity® SAI Sustainable Sector Fund |
Years ended May 31, | 2024 | 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 | .09 | .09 | .01 | |||
Net realized and unrealized gain (loss) | 2.88 | .39 | (.66) | |||
Total from investment operations | 2.97 | .48 | (.65) | |||
Distributions from net investment income | (.06) | (.04) | - | |||
Total distributions | (.06) | (.04) | - | |||
Net asset value, end of period | $ | 12.70 | $ | 9.79 | $ | 9.35 |
Total Return D,E | 30.43 % | 5.16% | (6.50)% | |||
Ratios to Average Net Assets C,F,G | ||||||
Expenses before reductions | .58% | 1.93% | 3.86% H,I | |||
Expenses net of fee waivers, if any | .49 % | .49% | .50% H,I | |||
Expenses net of all reductions | .49% | .49% | .50% H,I | |||
Net investment income (loss) | .75% | .98% | .81% H,I | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 131,386 | $ | 12,655 | $ | 1,875 |
Portfolio turnover rate J | 162 % | 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 | $17,808,737 |
Gross unrealized depreciation | (3,106,045) |
Net unrealized appreciation (depreciation) | $14,702,692 |
Tax Cost | $117,011,263 |
Undistributed ordinary income | $868,577 |
Undistributed long-term capital gain | $65,504 |
Net unrealized appreciation (depreciation) on securities and other investments | $14,702,664 |
May 31, 2024 | May 31, 2023 | |
Ordinary Income | $178,475 | $ 19,946 |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Sector Fund | 192,158,374 | 89,365,931 |
Amount ($) | |
Fidelity SAI Sustainable Sector Fund | 1,112 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity SAI Sustainable Sector Fund | 1,084,816 | 963,804 | 34,071 |
Amount ($) | |
Fidelity SAI Sustainable Sector Fund | 71 |
Contents
Common Stocks - 96.5% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 7.1% | |||
Diversified Telecommunication Services - 0.8% | |||
Verizon Communications, Inc. | 16,188 | 666,136 | |
Entertainment - 0.1% | |||
Netflix, Inc. (a) | 172 | 110,359 | |
Interactive Media & Services - 4.8% | |||
Alphabet, Inc. Class C | 18,529 | 3,223,305 | |
Meta Platforms, Inc. Class A | 1,141 | 532,653 | |
3,755,958 | |||
Media - 1.4% | |||
Comcast Corp. Class A | 26,645 | 1,066,599 | |
TOTAL COMMUNICATION SERVICES | 5,599,052 | ||
CONSUMER DISCRETIONARY - 8.3% | |||
Automobile Components - 0.0% | |||
Lear Corp. | 4 | 501 | |
Broadline Retail - 3.5% | |||
Amazon.com, Inc. (a) | 15,695 | 2,769,226 | |
Hotels, Restaurants & Leisure - 0.8% | |||
Airbnb, Inc. Class A (a) | 2,909 | 421,601 | |
Marriott International, Inc. Class A | 997 | 230,476 | |
652,077 | |||
Household Durables - 0.9% | |||
D.R. Horton, Inc. | 4,997 | 738,557 | |
Specialty Retail - 2.1% | |||
Lowe's Companies, Inc. | 3,879 | 858,384 | |
The Home Depot, Inc. | 1,250 | 418,588 | |
TJX Companies, Inc. | 3,571 | 368,170 | |
1,645,142 | |||
Textiles, Apparel & Luxury Goods - 1.0% | |||
Brunello Cucinelli SpA | 6,211 | 627,347 | |
Brunello Cucinelli SpA | 1,396 | 140,737 | |
768,084 | |||
TOTAL CONSUMER DISCRETIONARY | 6,573,587 | ||
CONSUMER STAPLES - 2.5% | |||
Consumer Staples Distribution & Retail - 1.9% | |||
Target Corp. | 4,800 | 749,568 | |
Walmart, Inc. | 11,560 | 760,186 | |
1,509,754 | |||
Household Products - 0.6% | |||
The Clorox Co. | 3,295 | 433,490 | |
Personal Care Products - 0.0% | |||
Kenvue, Inc. | 8 | 154 | |
TOTAL CONSUMER STAPLES | 1,943,398 | ||
ENERGY - 1.9% | |||
Energy Equipment & Services - 1.4% | |||
Baker Hughes Co. Class A | 16,467 | 551,315 | |
Seadrill Ltd. (a) | 9,856 | 511,231 | |
TechnipFMC PLC | 807 | 21,135 | |
1,083,681 | |||
Oil, Gas & Consumable Fuels - 0.5% | |||
Cheniere Energy, Inc. | 81 | 12,781 | |
Hess Corp. | 2,731 | 420,847 | |
433,628 | |||
TOTAL ENERGY | 1,517,309 | ||
FINANCIALS - 16.3% | |||
Banks - 3.4% | |||
Bank of America Corp. | 28,457 | 1,137,995 | |
Huntington Bancshares, Inc. | 1,418 | 19,739 | |
JPMorgan Chase & Co. | 2,685 | 544,062 | |
PNC Financial Services Group, Inc. | 1,892 | 297,782 | |
U.S. Bancorp | 16,547 | 670,981 | |
2,670,559 | |||
Capital Markets - 6.0% | |||
BlackRock, Inc. Class A | 554 | 427,705 | |
Carlyle Group LP | 4,982 | 214,027 | |
CME Group, Inc. | 885 | 179,637 | |
Goldman Sachs Group, Inc. | 1,901 | 867,845 | |
Intercontinental Exchange, Inc. | 4,180 | 559,702 | |
KKR & Co. LP | 5,818 | 598,323 | |
London Stock Exchange Group PLC | 5,960 | 698,611 | |
Morgan Stanley | 7,934 | 776,263 | |
Raymond James Financial, Inc. | 3,514 | 431,344 | |
4,753,457 | |||
Consumer Finance - 1.7% | |||
American Express Co. | 2,746 | 659,040 | |
Capital One Financial Corp. | 5,116 | 704,115 | |
1,363,155 | |||
Financial Services - 2.8% | |||
Apollo Global Management, Inc. | 11,748 | 1,364,648 | |
MasterCard, Inc. Class A | 775 | 346,479 | |
Visa, Inc. Class A | 1,804 | 491,518 | |
2,202,645 | |||
Insurance - 2.4% | |||
Arthur J. Gallagher & Co. | 202 | 51,173 | |
Chubb Ltd. | 3 | 812 | |
Hartford Financial Services Group, Inc. | 6,618 | 684,632 | |
MetLife, Inc. | 8,205 | 593,796 | |
Progressive Corp. | 91 | 19,217 | |
The Travelers Companies, Inc. | 2,347 | 506,248 | |
1,855,878 | |||
TOTAL FINANCIALS | 12,845,694 | ||
HEALTH CARE - 11.1% | |||
Biotechnology - 1.9% | |||
AbbVie, Inc. | 1,125 | 181,395 | |
Gilead Sciences, Inc. | 5,572 | 358,112 | |
Regeneron Pharmaceuticals, Inc. (a) | 835 | 818,434 | |
Vertex Pharmaceuticals, Inc. (a) | 230 | 104,728 | |
1,462,669 | |||
Health Care Equipment & Supplies - 1.7% | |||
Boston Scientific Corp. (a) | 17,784 | 1,343,937 | |
Health Care Providers & Services - 3.2% | |||
Centene Corp. (a) | 5,718 | 409,352 | |
Cigna Group | 2,542 | 876,024 | |
CVS Health Corp. | 5,887 | 350,865 | |
Humana, Inc. | 20 | 7,162 | |
UnitedHealth Group, Inc. | 1,749 | 866,402 | |
2,509,805 | |||
Life Sciences Tools & Services - 1.6% | |||
Agilent Technologies, Inc. | 4,045 | 527,508 | |
Danaher Corp. | 2,238 | 574,718 | |
Thermo Fisher Scientific, Inc. | 322 | 182,890 | |
1,285,116 | |||
Pharmaceuticals - 2.7% | |||
Eli Lilly & Co. | 1,947 | 1,597,202 | |
Merck & Co., Inc. | 3,947 | 495,506 | |
Novo Nordisk A/S Series B | 14 | 1,897 | |
Zoetis, Inc. Class A | 11 | 1,865 | |
2,096,470 | |||
TOTAL HEALTH CARE | 8,697,997 | ||
INDUSTRIALS - 15.5% | |||
Aerospace & Defense - 2.6% | |||
General Dynamics Corp. | 3,045 | 912,800 | |
General Electric Co. | 3,732 | 616,302 | |
Lockheed Martin Corp. | 1,078 | 507,027 | |
2,036,129 | |||
Air Freight & Logistics - 0.9% | |||
FedEx Corp. | 2,882 | 731,913 | |
Building Products - 3.2% | |||
Carrier Global Corp. | 5,520 | 348,809 | |
Fortune Brands Innovations, Inc. | 3,876 | 271,553 | |
The AZEK Co., Inc. Class A, (a) | 9,224 | 442,383 | |
Trane Technologies PLC | 4,395 | 1,439,187 | |
2,501,932 | |||
Commercial Services & Supplies - 0.0% | |||
Veralto Corp. | 74 | 7,295 | |
Construction & Engineering - 0.0% | |||
AECOM | 144 | 12,577 | |
Electrical Equipment - 4.1% | |||
Eaton Corp. PLC | 7,768 | 2,585,579 | |
GE Vernova LLC | 795 | 139,841 | |
Hubbell, Inc. Class B | 714 | 277,667 | |
Nextracker, Inc. Class A (a) | 3,402 | 187,688 | |
Prysmian SpA | 262 | 17,232 | |
3,208,007 | |||
Ground Transportation - 0.5% | |||
Uber Technologies, Inc. (a) | 6,592 | 425,580 | |
Industrial Conglomerates - 0.0% | |||
Honeywell International, Inc. | 22 | 4,448 | |
Machinery - 1.3% | |||
Caterpillar, Inc. | 2,207 | 747,114 | |
Cummins, Inc. | 84 | 23,665 | |
Pentair PLC | 2,901 | 236,083 | |
1,006,862 | |||
Professional Services - 0.7% | |||
Equifax, Inc. | 610 | 141,148 | |
RELX PLC (London Stock Exchange) | 8,597 | 377,124 | |
518,272 | |||
Trading Companies & Distributors - 2.2% | |||
Ferguson PLC | 2,485 | 511,264 | |
United Rentals, Inc. | 1,799 | 1,204,269 | |
1,715,533 | |||
TOTAL INDUSTRIALS | 12,168,548 | ||
INFORMATION TECHNOLOGY - 29.4% | |||
Electronic Equipment, Instruments & Components - 0.8% | |||
Jabil, Inc. | 4,786 | 569,055 | |
IT Services - 2.3% | |||
Accenture PLC Class A | 1,998 | 564,015 | |
IBM Corp. | 6,093 | 1,016,617 | |
Shopify, Inc. Class A (a) | 4,046 | 239,321 | |
1,819,953 | |||
Semiconductors & Semiconductor Equipment - 14.3% | |||
Analog Devices, Inc. | 2,516 | 589,977 | |
Applied Materials, Inc. | 2,533 | 544,798 | |
ASML Holding NV (depository receipt) | 247 | 237,206 | |
Lam Research Corp. | 638 | 594,897 | |
Marvell Technology, Inc. | 2,364 | 162,667 | |
Micron Technology, Inc. | 11,248 | 1,406,000 | |
MKS Instruments, Inc. | 247 | 31,268 | |
NVIDIA Corp. | 5,236 | 5,740,384 | |
NXP Semiconductors NV | 501 | 136,322 | |
ON Semiconductor Corp. (a) | 2,058 | 150,316 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 9,801 | 1,480,343 | |
Universal Display Corp. | 1,040 | 182,728 | |
11,256,906 | |||
Software - 10.6% | |||
Adobe, Inc. (a) | 430 | 191,247 | |
HubSpot, Inc. (a) | 176 | 107,545 | |
Intuit, Inc. | 951 | 548,194 | |
Microsoft Corp. | 15,308 | 6,354,807 | |
Oracle Corp. | 4,899 | 574,114 | |
Salesforce, Inc. | 2,353 | 551,637 | |
8,327,544 | |||
Technology Hardware, Storage & Peripherals - 1.4% | |||
Apple, Inc. | 5,796 | 1,114,281 | |
TOTAL INFORMATION TECHNOLOGY | 23,087,739 | ||
MATERIALS - 2.7% | |||
Chemicals - 1.2% | |||
Linde PLC | 2,217 | 965,548 | |
Containers & Packaging - 0.2% | |||
Avery Dennison Corp. | 151 | 34,366 | |
O-I Glass, Inc. (a) | 6,551 | 83,132 | |
117,498 | |||
Metals & Mining - 1.3% | |||
Freeport-McMoRan, Inc. | 19,847 | 1,046,532 | |
TOTAL MATERIALS | 2,129,578 | ||
REAL ESTATE - 0.5% | |||
Equity Real Estate Investment Trusts (REITs) - 0.5% | |||
Equity Residential (SBI) | 2,692 | 175,061 | |
SL Green Realty Corp. | 2,123 | 112,455 | |
Weyerhaeuser Co. | 2,805 | 84,234 | |
371,750 | |||
UTILITIES - 1.2% | |||
Electric Utilities - 1.2% | |||
NextEra Energy, Inc. | 11,548 | 924,071 | |
TOTAL COMMON STOCKS (Cost $65,473,844) | 75,858,723 | ||
Money Market Funds - 2.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $2,073,406) | 2,072,991 | 2,073,406 | |
TOTAL INVESTMENT IN SECURITIES - 99.2% (Cost $67,547,250) | 77,932,129 |
NET OTHER ASSETS (LIABILITIES) - 0.8% | 659,372 |
NET ASSETS - 100.0% | 78,591,501 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.39% | 253,749 | 34,558,885 | 32,739,312 | 56,815 | 84 | - | 2,073,406 | 0.0% |
Total | 253,749 | 34,558,885 | 32,739,312 | 56,815 | 84 | - | 2,073,406 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 5,599,052 | 5,599,052 | - | - |
Consumer Discretionary | 6,573,587 | 5,805,503 | 768,084 | - |
Consumer Staples | 1,943,398 | 1,943,398 | - | - |
Energy | 1,517,309 | 1,517,309 | - | - |
Financials | 12,845,694 | 12,147,083 | 698,611 | - |
Health Care | 8,697,997 | 8,696,100 | 1,897 | - |
Industrials | 12,168,548 | 11,774,192 | 394,356 | - |
Information Technology | 23,087,739 | 23,087,739 | - | - |
Materials | 2,129,578 | 2,129,578 | - | - |
Real Estate | 371,750 | 371,750 | - | - |
Utilities | 924,071 | 924,071 | - | - |
Money Market Funds | 2,073,406 | 2,073,406 | - | - |
Total Investments in Securities: | 77,932,129 | 76,069,181 | 1,862,948 | - |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $65,473,844) | $ | 75,858,723 | ||
Fidelity Central Funds (cost $2,073,406) | 2,073,406 | |||
Total Investment in Securities (cost $67,547,250) | $ | 77,932,129 | ||
Receivable for fund shares sold | 674,104 | |||
Dividends receivable | 53,984 | |||
Distributions receivable from Fidelity Central Funds | 7,783 | |||
Prepaid expenses | 1 | |||
Total assets | 78,668,001 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 691 | ||
Accrued management fee | 31,092 | |||
Audit fee payable | 33,177 | |||
Custody fee payable | 8,230 | |||
Other payables and accrued expenses | 3,310 | |||
Total liabilities | 76,500 | |||
Net Assets | $ | 78,591,501 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 67,653,577 | ||
Total accumulated earnings (loss) | 10,937,924 | |||
Net Assets | $ | 78,591,501 | ||
Net Asset Value, offering price and redemption price per share ($78,591,501 ÷ 6,276,869 shares) | $ | 12.52 |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 401,983 | ||
Income from Fidelity Central Funds | 56,815 | |||
Total income | 458,798 | |||
Expenses | ||||
Management fee | $ | 168,951 | ||
Custodian fees and expenses | 19,962 | |||
Independent trustees' fees and expenses | 111 | |||
Registration fees | 29,989 | |||
Audit | 46,303 | |||
Legal | 8 | |||
Miscellaneous | 811 | |||
Total expenses before reductions | 266,135 | |||
Expense reductions | (69,313) | |||
Total expenses after reductions | 196,822 | |||
Net Investment income (loss) | 261,976 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 539,246 | |||
Fidelity Central Funds | 84 | |||
Foreign currency transactions | (749) | |||
Total net realized gain (loss) | 538,581 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 10,128,360 | |||
Assets and liabilities in foreign currencies | 70 | |||
Total change in net unrealized appreciation (depreciation) | 10,128,430 | |||
Net gain (loss) | 10,667,011 | |||
Net increase (decrease) in net assets resulting from operations | $ | 10,928,987 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 261,976 | $ | 31,080 |
Net realized gain (loss) | 538,581 | (112,839) | ||
Change in net unrealized appreciation (depreciation) | 10,128,430 | 321,133 | ||
Net increase (decrease) in net assets resulting from operations | 10,928,987 | 239,374 | ||
Distributions to shareholders | (99,565) | (11,410) | ||
Share transactions | ||||
Proceeds from sales of shares | 70,833,602 | 5,686,023 | ||
Reinvestment of distributions | 88,795 | 11,161 | ||
Cost of shares redeemed | (9,594,427) | (427,453) | ||
Net increase (decrease) in net assets resulting from share transactions | 61,327,970 | 5,269,731 | ||
Total increase (decrease) in net assets | 72,157,392 | 5,497,695 | ||
Net Assets | ||||
Beginning of period | 6,434,109 | 936,414 | ||
End of period | $ | 78,591,501 | $ | 6,434,109 |
Other Information | ||||
Shares | ||||
Sold | 6,395,842 | 631,258 | ||
Issued in reinvestment of distributions | 8,441 | 1,237 | ||
Redeemed | (813,276) | (46,883) | ||
Net increase (decrease) | 5,591,007 | 585,612 | ||
Fidelity® SAI Sustainable Future Fund |
Years ended May 31, | 2024 | 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 | .09 | .09 | .01 | |||
Net realized and unrealized gain (loss) | 3.10 | (.01) D | (.67) | |||
Total from investment operations | 3.19 | .08 | (.66) | |||
Distributions from net investment income | (.05) | (.04) | - | |||
Total distributions | (.05) | (.04) | - | |||
Net asset value, end of period | $ | 12.52 | $ | 9.38 | $ | 9.34 |
Total Return E,F | 34.13 % | .90% | (6.60)% | |||
Ratios to Average Net Assets C,G,H | ||||||
Expenses before reductions | .80% | 3.41% | 7.05% I,J | |||
Expenses net of fee waivers, if any | .59 % | .59% | .60% I,J | |||
Expenses net of all reductions | .59% | .59% | .60% I,J | |||
Net investment income (loss) | .79% | 1.04% | .53% I,J | |||
Supplemental Data | ||||||
Net assets, end of period (000 omitted) | $ | 78,592 | $ | 6,434 | $ | 936 |
Portfolio turnover rate K | 48 % | 43% | 1% 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 | $11,724,113 |
Gross unrealized depreciation | (1,401,814) |
Net unrealized appreciation (depreciation) | $10,322,299 |
Tax Cost | $67,609,830 |
Undistributed ordinary income | $608,425 |
Undistributed long-term capital gain | $7,131 |
Net unrealized appreciation (depreciation) on securities and other investments | $10,322,369 |
May 31, 2024 | May 31, 2023 | |
Ordinary Income | $99,565 | $ 11,410 |
Purchases ($) | Sales ($) | |
Fidelity SAI Sustainable Future Fund | 74,805,950 | 15,810,863 |
Amount ($) | |
Fidelity SAI Sustainable Future Fund | 429 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity SAI Sustainable Future Fund | 927,960 | 516,394 | 84,112 |
Amount ($) | |
Fidelity SAI Sustainable Future Fund | 43 |
Contents
Common Stocks - 99.3% | |||
Shares | Value ($) | ||
CONSUMER STAPLES - 36.7% | |||
Food Products - 36.7% | |||
Adecoagro SA | 44,793 | 440,763 | |
Archer Daniels Midland Co. | 59,460 | 3,712,682 | |
Bakkafrost | 25,708 | 1,416,429 | |
Bunge Global SA | 23,529 | 2,531,485 | |
Cranswick PLC | 30,144 | 1,717,875 | |
Darling Ingredients, Inc. (a) | 35,246 | 1,423,938 | |
First Resources Ltd. (b) | 532,632 | 555,810 | |
Ingredion, Inc. | 20,190 | 2,373,940 | |
Lamb Weston Holdings, Inc. | 28,702 | 2,534,100 | |
Origin Enterprises PLC | 163,559 | 546,994 | |
Pilgrim's Pride Corp. (a) | 32,587 | 1,170,851 | |
Sakata Seed Corp. | 31,484 | 675,665 | |
19,100,532 | |||
HEALTH CARE - 0.7% | |||
Biotechnology - 0.7% | |||
Cibus, Inc. (a)(b) | 25,467 | 368,253 | |
INDUSTRIALS - 29.6% | |||
Machinery - 29.6% | |||
AGCO Corp. | 7,375 | 791,559 | |
CNH Industrial NV | 19,612 | 207,103 | |
Deere & Co. | 33,376 | 12,507,989 | |
Toro Co. | 23,393 | 1,875,885 | |
15,382,536 | |||
MATERIALS - 32.3% | |||
Chemicals - 32.3% | |||
CF Industries Holdings, Inc. | 32,190 | 2,566,509 | |
Corteva, Inc. | 91,760 | 5,133,054 | |
FMC Corp. | 20,927 | 1,275,501 | |
Nufarm Ltd. | 168,202 | 500,252 | |
Nutrien Ltd. | 78,428 | 4,595,946 | |
OCI NV | 37,487 | 1,028,121 | |
Sabic Agriculture-Nutrients Co. | 32,721 | 924,741 | |
The Mosaic Co. | 23,907 | 739,444 | |
16,763,568 | |||
TOTAL COMMON STOCKS (Cost $44,970,041) | 51,614,889 | ||
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Securities Lending Cash Central Fund 5.39% (c)(d) (Cost $90,019) | 90,010 | 90,019 | |
TOTAL INVESTMENT IN SECURITIES - 99.5% (Cost $45,060,060) | 51,704,908 |
NET OTHER ASSETS (LIABILITIES) - 0.5% | 259,693 |
NET ASSETS - 100.0% | 51,964,601 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
(d) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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 5.39% | 3,462,746 | 10,214,714 | 13,677,461 | 17,341 | 1 | - | - | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | - | 13,765,851 | 13,675,832 | 11,865 | - | - | 90,019 | 0.0% |
Total | 3,462,746 | 23,980,565 | 27,353,293 | 29,206 | 1 | - | 90,019 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Consumer Staples | 19,100,532 | 15,419,234 | 3,681,298 | - |
Health Care | 368,253 | 368,253 | - | - |
Industrials | 15,382,536 | 15,382,536 | - | - |
Materials | 16,763,568 | 15,735,447 | 1,028,121 | - |
Money Market Funds | 90,019 | 90,019 | - | - |
Total Investments in Securities: | 51,704,908 | 46,995,489 | 4,709,419 | - |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $85,422) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $44,970,041) | $ | 51,614,889 | ||
Fidelity Central Funds (cost $90,019) | 90,019 | |||
Total Investment in Securities (cost $45,060,060) | $ | 51,704,908 | ||
Cash | 15,629 | |||
Foreign currency held at value (cost $50) | 50 | |||
Receivable for investments sold | 511,171 | |||
Receivable for fund shares sold | 32,965 | |||
Dividends receivable | 94,948 | |||
Distributions receivable from Fidelity Central Funds | 1,393 | |||
Prepaid expenses | 15 | |||
Receivable from investment adviser for expense reductions | 487 | |||
Total assets | 52,361,566 | |||
Liabilities | ||||
Payable for investments purchased | $ | 204,749 | ||
Payable for fund shares redeemed | 17,921 | |||
Accrued management fee | 37,238 | |||
Audit fee payable | 32,575 | |||
Other payables and accrued expenses | 14,463 | |||
Collateral on securities loaned | 90,019 | |||
Total liabilities | 396,965 | |||
Net Assets | $ | 51,964,601 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 66,812,230 | ||
Total accumulated earnings (loss) | (14,847,629) | |||
Net Assets | $ | 51,964,601 | ||
Net Asset Value, offering price and redemption price per share ($51,964,601 ÷ 2,910,350 shares) | $ | 17.86 |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 1,295,273 | ||
Income from Fidelity Central Funds (including $11,865 from security lending) | 29,206 | |||
Total income | 1,324,479 | |||
Expenses | ||||
Management fee | $ | 476,283 | ||
Transfer agent fees | 124,395 | |||
Accounting fees | 26,770 | |||
Custodian fees and expenses | 18,460 | |||
Independent trustees' fees and expenses | 373 | |||
Registration fees | 25,638 | |||
Audit | 46,650 | |||
Legal | 43 | |||
Miscellaneous | 4,398 | |||
Total expenses before reductions | 723,010 | |||
Expense reductions | (81,594) | |||
Total expenses after reductions | 641,416 | |||
Net Investment income (loss) | 683,063 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (2,038,569) | |||
Fidelity Central Funds | 1 | |||
Foreign currency transactions | 2,013 | |||
Total net realized gain (loss) | (2,036,555) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 2,117,920 | |||
Assets and liabilities in foreign currencies | 737 | |||
Total change in net unrealized appreciation (depreciation) | 2,118,657 | |||
Net gain (loss) | 82,102 | |||
Net increase (decrease) in net assets resulting from operations | $ | 765,165 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 683,063 | $ | 1,930,674 |
Net realized gain (loss) | (2,036,555) | (16,176,517) | ||
Change in net unrealized appreciation (depreciation) | 2,118,657 | (10,297,106) | ||
Net increase (decrease) in net assets resulting from operations | 765,165 | (24,542,949) | ||
Distributions to shareholders | (958,262) | (1,523,416) | ||
Share transactions | ||||
Proceeds from sales of shares | 16,307,124 | 84,868,962 | ||
Reinvestment of distributions | 874,369 | 1,392,002 | ||
Cost of shares redeemed | (47,925,972) | (143,837,666) | ||
Net increase (decrease) in net assets resulting from share transactions | (30,744,479) | (57,576,702) | ||
Total increase (decrease) in net assets | (30,937,576) | (83,643,067) | ||
Net Assets | ||||
Beginning of period | 82,902,177 | 166,545,244 | ||
End of period | $ | 51,964,601 | $ | 82,902,177 |
Other Information | ||||
Shares | ||||
Sold | 881,384 | 4,113,273 | ||
Issued in reinvestment of distributions | 46,941 | 68,059 | ||
Redeemed | (2,622,261) | (7,284,543) | ||
Net increase (decrease) | (1,693,936) | (3,103,211) | ||
Fidelity® Agricultural Productivity Fund |
Years ended May 31, | 2024 | 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 | .19 | .32 | .16 D | .13 E | .03 | |||||
Net realized and unrealized gain (loss) | (.10) F | (3.67) | 2.69 | 7.92 | .88 | |||||
Total from investment operations | .09 | (3.35) | 2.85 | 8.05 | .91 | |||||
Distributions from net investment income | (.24) | (.25) | (.09) | (.07) | - | |||||
Distributions from net realized gain | - | - | (.04) | - G | - | |||||
Total distributions | (.24) | (.25) | (.13) | (.07) | - | |||||
Net asset value, end of period | $ | 17.86 | $ | 18.01 | $ | 21.61 | $ | 18.89 | $ | 10.91 |
Total Return H,I | .48 % | (15.66)% | 15.24% | 74.02% | 9.10% | |||||
Ratios to Average Net Assets C,J,K | ||||||||||
Expenses before reductions | 1.07% | 1.08% | 1.15% | 1.59% | 7.25% L,M | |||||
Expenses net of fee waivers, if any | .95 % | .95% | .99% | 1.00% | .97% L,M,N | |||||
Expenses net of all reductions | .95% | .95% | .99% | .98% | .97% L,M,N | |||||
Net investment income (loss) | 1.01% | 1.57% | .81% D | .80% E | 2.42% L,M | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 51,965 | $ | 82,902 | $ | 166,545 | $ | 62,894 | $ | 3,390 |
Portfolio turnover rate O | 12 % | 44% | 50% | 19% | 4% P |
Common Stocks - 99.0% | |||
Shares | Value ($) | ||
INDUSTRIALS - 66.7% | |||
Building Products - 9.6% | |||
Advanced Drain Systems, Inc. | 33,923 | 5,885,301 | |
Geberit AG (Reg.) | 6,301 | 3,875,552 | |
9,760,853 | |||
Commercial Services & Supplies - 8.5% | |||
Montrose Environmental Group, Inc. (a) | 12,538 | 589,411 | |
Tetra Tech, Inc. | 23,766 | 4,978,739 | |
Veralto Corp. | 31,581 | 3,113,255 | |
8,681,405 | |||
Construction & Engineering - 4.3% | |||
Stantec, Inc. | 54,648 | 4,410,492 | |
Machinery - 37.6% | |||
Chart Industries, Inc. (a) | 30,399 | 4,773,555 | |
Dover Corp. | 3,396 | 624,253 | |
Energy Recovery, Inc. (a) | 111,892 | 1,510,542 | |
Georg Fischer AG (Reg.) | 21,971 | 1,599,680 | |
IDEX Corp. | 5,159 | 1,076,374 | |
Ingersoll Rand, Inc. | 59,084 | 5,497,766 | |
Kurita Water Industries Ltd. | 56,026 | 2,394,015 | |
Mueller Water Products, Inc. Class A | 269,912 | 5,009,567 | |
Organo Corp. | 11,144 | 624,288 | |
Pentair PLC | 100,984 | 8,218,078 | |
Watts Water Technologies, Inc. Class A | 12,232 | 2,435,758 | |
Xylem, Inc. | 31,135 | 4,390,658 | |
38,154,534 | |||
Professional Services - 2.2% | |||
KBR, Inc. | 33,396 | 2,192,781 | |
Trading Companies & Distributors - 4.5% | |||
Core & Main, Inc. (a) | 79,279 | 4,563,299 | |
TOTAL INDUSTRIALS | 67,763,364 | ||
INFORMATION TECHNOLOGY - 2.5% | |||
Electronic Equipment, Instruments & Components - 1.3% | |||
Badger Meter, Inc. | 6,955 | 1,342,037 | |
Software - 1.2% | |||
Roper Technologies, Inc. | 2,314 | 1,232,807 | |
TOTAL INFORMATION TECHNOLOGY | 2,574,844 | ||
MATERIALS - 2.3% | |||
Chemicals - 2.3% | |||
Ecolab, Inc. | 9,975 | 2,316,195 | |
UTILITIES - 27.5% | |||
Water Utilities - 27.5% | |||
American Water Works Co., Inc. | 31,493 | 4,118,340 | |
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) sponsored ADR | 309,354 | 4,377,359 | |
Essential Utilities, Inc. | 136,458 | 5,148,560 | |
Pennon Group PLC | 140,297 | 1,115,286 | |
Severn Trent PLC | 187,049 | 5,715,611 | |
United Utilities Group PLC | 568,320 | 7,402,825 | |
27,877,981 | |||
TOTAL COMMON STOCKS (Cost $80,799,072) | 100,532,384 | ||
Money Market Funds - 0.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (b) (Cost $822,232) | 822,067 | 822,232 | |
TOTAL INVESTMENT IN SECURITIES - 99.8% (Cost $81,621,304) | 101,354,616 |
NET OTHER ASSETS (LIABILITIES) - 0.2% | 223,137 |
NET ASSETS - 100.0% | 101,577,753 |
(a) | Non-income producing |
(b) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request. |
Affiliate | Value, beginning of period ($) | 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 5.39% | - | 18,986,374 | 18,164,194 | 40,315 | 52 | - | 822,232 | 0.0% |
Total | - | 18,986,374 | 18,164,194 | 40,315 | 52 | - | 822,232 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Industrials | 67,763,364 | 62,288,132 | 5,475,232 | - |
Information Technology | 2,574,844 | 2,574,844 | - | - |
Materials | 2,316,195 | 2,316,195 | - | - |
Utilities | 27,877,981 | 13,644,259 | 14,233,722 | - |
Money Market Funds | 822,232 | 822,232 | - | - |
Total Investments in Securities: | 101,354,616 | 81,645,662 | 19,708,954 | - |
Statement of Assets and Liabilities | ||||
May 31, 2024 | ||||
Assets | ||||
Investment in securities, at value - See accompanying schedule: | ||||
Unaffiliated issuers (cost $80,799,072) | $ | 100,532,384 | ||
Fidelity Central Funds (cost $822,232) | 822,232 | |||
Total Investment in Securities (cost $81,621,304) | $ | 101,354,616 | ||
Receivable for fund shares sold | 32,140 | |||
Dividends receivable | 359,791 | |||
Reclaims receivable | 77,488 | |||
Distributions receivable from Fidelity Central Funds | 5,227 | |||
Prepaid expenses | 15 | |||
Total assets | 101,829,277 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 127,255 | ||
Accrued management fee | 75,816 | |||
Audit fee payable | 38,198 | |||
Other payables and accrued expenses | 10,255 | |||
Total liabilities | 251,524 | |||
Net Assets | $ | 101,577,753 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 85,430,688 | ||
Total accumulated earnings (loss) | 16,147,065 | |||
Net Assets | $ | 101,577,753 | ||
Net Asset Value, offering price and redemption price per share ($101,577,753 ÷ 5,796,657 shares) | $ | 17.52 |
Statement of Operations | ||||
Year ended May 31, 2024 | ||||
Investment Income | ||||
Dividends | $ | 1,384,086 | ||
Income from Fidelity Central Funds | 40,315 | |||
Total income | 1,424,401 | |||
Expenses | ||||
Management fee | $ | 653,902 | ||
Transfer agent fees | 155,702 | |||
Accounting fees and expenses | 33,233 | |||
Custodian fees and expenses | 7,860 | |||
Independent trustees' fees and expenses | 444 | |||
Registration fees | 23,641 | |||
Audit | 53,379 | |||
Legal | 47 | |||
Miscellaneous | 6,976 | |||
Total expenses before reductions | 935,184 | |||
Expense reductions | (66,768) | |||
Total expenses after reductions | 868,416 | |||
Net Investment income (loss) | 555,985 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 3,964,697 | |||
Fidelity Central Funds | 52 | |||
Foreign currency transactions | 5,586 | |||
Total net realized gain (loss) | 3,970,335 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 16,568,685 | |||
Assets and liabilities in foreign currencies | (1) | |||
Total change in net unrealized appreciation (depreciation) | 16,568,684 | |||
Net gain (loss) | 20,539,019 | |||
Net increase (decrease) in net assets resulting from operations | $ | 21,095,004 |
Statement of Changes in Net Assets | ||||
Year ended May 31, 2024 | Year ended May 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 555,985 | $ | 364,001 |
Net realized gain (loss) | 3,970,335 | (4,534,447) | ||
Change in net unrealized appreciation (depreciation) | 16,568,684 | 5,690,755 | ||
Net increase (decrease) in net assets resulting from operations | 21,095,004 | 1,520,309 | ||
Distributions to shareholders | (396,236) | (69,878) | ||
Share transactions | ||||
Proceeds from sales of shares | 24,604,418 | 20,026,590 | ||
Reinvestment of distributions | 355,014 | 63,456 | ||
Cost of shares redeemed | (28,465,333) | (31,388,558) | ||
Net increase (decrease) in net assets resulting from share transactions | (3,505,901) | (11,298,512) | ||
Total increase (decrease) in net assets | 17,192,867 | (9,848,081) | ||
Net Assets | ||||
Beginning of period | 84,384,886 | 94,232,967 | ||
End of period | $ | 101,577,753 | $ | 84,384,886 |
Other Information | ||||
Shares | ||||
Sold | 1,559,854 | 1,475,734 | ||
Issued in reinvestment of distributions | 22,941 | 4,549 | ||
Redeemed | (1,843,034) | (2,383,662) | ||
Net increase (decrease) | (260,239) | (903,379) | ||
Fidelity® Water Sustainability Fund |
Years ended May 31, | 2024 | 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 | .09 | .06 | (.04) | .01 | .02 | |||||
Net realized and unrealized gain (loss) | 3.57 | .34 | (1.02) | 4.28 | .73 | |||||
Total from investment operations | 3.66 | .40 | (1.06) | 4.29 | .75 | |||||
Distributions from net investment income | (.07) | (.01) | - D | (.02) | - | |||||
Distributions from net realized gain | - | - | (.24) | (.18) | - | |||||
Total distributions | (.07) | (.01) | (.24) | (.20) | - | |||||
Net asset value, end of period | $ | 17.52 | $ | 13.93 | $ | 13.54 | $ | 14.84 | $ | 10.75 |
Total Return E,F | 26.32 % | 2.96% | (7.44)% | 40.20% | 7.50% | |||||
Ratios to Average Net Assets C,G,H | ||||||||||
Expenses before reductions | 1.02% | 1.09% | 1.11% | 1.44% | 4.15% I,J,K | |||||
Expenses net of fee waivers, if any | .95 % | .95% | 1.00% | 1.00% | .97% I,J,K | |||||
Expenses net of all reductions | .95% | .95% | 1.00% | .98% | .97% I,J,K | |||||
Net investment income (loss) | .61% | .41% | (.29)% | .11% | 1.39% I,J,K | |||||
Supplemental Data | ||||||||||
Net assets, end of period (000 omitted) | $ | 101,578 | $ | 84,385 | $ | 94,233 | $ | 55,774 | $ | 4,363 |
Portfolio turnover rate L | 52 % | 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 | 45,136,593 | 9,893,946 | (3,325,631) | 6,568,315 |
Fidelity Water Sustainability Fund | 81,676,417 | 22,441,779 | (2,763,580) | 19,678,199 |
Undistributed ordinary income ($) | Capital loss carryforward ($) | Net unrealized appreciation (depreciation) on securities and other investments ($) | |
Fidelity Agricultural Productivity Fund | 157,088 | (21,572,516) | 6,567,798 |
Fidelity Water Sustainability Fund | 332,966 | (3,863,801) | 19,677,901 |
Short-term ($) | Long-term ($) | Total capital loss carryforward ($) | |
Fidelity Agricultural Productivity Fund | (19,152,898) | (2,419,618) | (21,572,516) |
Fidelity Water Sustainability Fund | (3,863,801) | - | (3,863,801) |
May 31, 2024 | |
Ordinary Income ($) | |
Fidelity Agricultural Productivity Fund | 958,262 |
Fidelity Water Sustainability Fund | 396,236 |
May 31, 2023 | |
Ordinary Income ($) | |
Fidelity Agricultural Productivity Fund | 1,523,416 |
Fidelity Water Sustainability Fund | 69,878 |
Purchases ($) | Sales ($) | |
Fidelity Agricultural Productivity Fund | 7,941,388 | 35,987,711 |
Fidelity Water Sustainability Fund | 46,966,686 | 50,170,239 |
Maximum Management Fee Rate % | |
Fidelity Agricultural Productivity Fund | .88 |
Fidelity Water Sustainability Fund | .88 |
Total Management Fee Rate % | |
Fidelity Agricultural Productivity Fund | .83 |
Fidelity Water Sustainability Fund | .83 |
Individual Rate % | Group Rate % | Total % | |
Fidelity Agricultural Productivity Fund | .45 | .22 | .67 |
Fidelity Water Sustainability Fund | .45 | .22 | .67 |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | .2000% |
Fidelity Water Sustainability Fund | .2000% |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | .23% |
Fidelity Water Sustainability Fund | .23% |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | .0498 |
Fidelity Water Sustainability Fund | .0497 |
% of Average Net Assets | |
Fidelity Agricultural Productivity Fund | .05 |
Fidelity Water Sustainability Fund | .05 |
Amount ($) | |
Fidelity Agricultural Productivity Fund | 131 |
Fidelity Water Sustainability Fund | 646 |
Purchases ($) | Sales ($) | Realized Gain (Loss)($) | |
Fidelity Agricultural Productivity Fund | 146,243 | 129,710 | 2,231 |
Fidelity Water Sustainability Fund | 75,920 | 22,554 | (2,922) |
Amount ($) | |
Fidelity Agricultural Productivity Fund | 131 |
Fidelity Water Sustainability Fund | 159 |
Total Security Lending Fees Paid to NFS ($) | Security Lending Income From Securities Loaned to NFS ($) | Value of Securities Loaned to NFS at Period End ($) | |
Fidelity Agricultural Productivity Fund | 1,277 | - | - |
Fidelity Water Sustainability Fund | - | - | - |
Expense Limitations | Reimbursement ($) | |
Fidelity Agricultural Productivity Fund | .95% | 75,722 |
Fidelity Water Sustainability Fund | .95% | 59,380 |
Amount ($) | |
Fidelity Agricultural Productivity Fund | 5,872 |
Fidelity Water Sustainability Fund | 7,388 |
Fidelity Agricultural Productivity Fund | |
July 2023 | 100% |
December 2023 | 100% |
Fidelity Water Sustainability Fund | |
July 2023 | 100% |
December 2023 | 100% |
Fidelity Agricultural Productivity Fund | |
July 2023 | 100% |
December 2023 | 100% |
Fidelity Water Sustainability Fund | |
July 2023 | 100% |
December 2023 | 100% |
Item 8.
Changes in and Disagreements with Accountants for Open-End Management Investment Companies
See Item 7.
Item 9.
Proxy Disclosures for Open-End Management Investment Companies
See Item 7.
Item 10.
Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
See Item 7.
Item 11.
Statement Regarding Basis for Approval of Investment Advisory Contract
See Item 7.
Item 12.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15.
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 trust’s Board of Trustees.
Item 16.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the trust’s 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 17.
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) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(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 (Principal Executive Officer) | |
Date: | July 23, 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 (Principal Executive Officer) | |
Date: | July 23, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer (Principal Financial Officer) | |
Date: | July 23, 2024 |