Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.
EFS-NPRT3-0424
1.9904866.101
Common Stocks - 97.0%
Shares
Value ($)
COMMUNICATION SERVICES - 8.5%
Entertainment - 3.1%
Netflix, Inc. (a)
1,013
610,758
The Walt Disney Co.
15,232
1,699,587
2,310,345
Interactive Media & Services - 3.6%
Alphabet, Inc. Class A (a)
19,006
2,631,571
Media - 1.8%
Comcast Corp. Class A
18,406
788,697
TEGNA, Inc.
37,603
526,818
1,315,515
TOTAL COMMUNICATION SERVICES
6,257,431
CONSUMER DISCRETIONARY - 12.0%
Automobile Components - 0.6%
Aptiv PLC (a)
5,116
406,671
Automobiles - 0.4%
General Motors Co.
2,058
84,337
Tesla, Inc. (a)
1,148
231,758
316,095
Broadline Retail - 4.0%
Amazon.com, Inc. (a)
16,521
2,920,252
Hotels, Restaurants & Leisure - 2.4%
Marriott International, Inc. Class A
7,227
1,805,810
Household Durables - 0.8%
Taylor Morrison Home Corp. (a)
10,611
600,689
Specialty Retail - 1.8%
Lowe's Companies, Inc.
5,492
1,321,760
Textiles, Apparel & Luxury Goods - 2.0%
LVMH Moet Hennessy Louis Vuitton SE
1,158
1,056,948
Tapestry, Inc.
8,868
421,496
1,478,444
TOTAL CONSUMER DISCRETIONARY
8,849,721
CONSUMER STAPLES - 4.3%
Consumer Staples Distribution & Retail - 0.8%
Sprouts Farmers Market LLC (a)
9,287
579,880
Food Products - 0.1%
Nomad Foods Ltd.
3,233
59,584
Household Products - 2.7%
Procter & Gamble Co.
12,711
2,020,286
Personal Care Products - 0.7%
Estee Lauder Companies, Inc. Class A
3,714
551,826
TOTAL CONSUMER STAPLES
3,211,576
ENERGY - 3.5%
Energy Equipment & Services - 1.4%
Baker Hughes Co. Class A
35,447
1,048,877
Oil, Gas & Consumable Fuels - 2.1%
Cheniere Energy, Inc.
4,048
628,250
Equinor ASA
37,528
924,644
1,552,894
TOTAL ENERGY
2,601,771
FINANCIALS - 12.1%
Banks - 0.5%
Bank of America Corp.
11,686
403,401
Capital Markets - 4.2%
BlackRock, Inc. Class A
1,475
1,196,727
Moody's Corp.
4,071
1,544,619
Northern Trust Corp.
4,377
359,483
3,100,829
Consumer Finance - 2.2%
American Express Co.
6,039
1,325,077
Discover Financial Services
2,669
322,148
1,647,225
Financial Services - 2.6%
MasterCard, Inc. Class A
3,198
1,518,282
Voya Financial, Inc.
5,467
373,724
1,892,006
Insurance - 2.6%
The Travelers Companies, Inc.
8,552
1,889,650
TOTAL FINANCIALS
8,933,111
HEALTH CARE - 12.1%
Biotechnology - 1.4%
Gilead Sciences, Inc.
12,454
897,933
Moderna, Inc. (a)
2,011
185,495
1,083,428
Health Care Providers & Services - 4.3%
BrightSpring Health Services, Inc.
62,265
559,762
Centene Corp. (a)
9,946
780,065
Cigna Group
5,074
1,705,574
CVS Health Corp.
1,992
148,145
3,193,546
Life Sciences Tools & Services - 2.9%
Danaher Corp.
3,965
1,003,700
ICON PLC (a)
3,520
1,128,582
2,132,282
Pharmaceuticals - 3.5%
Merck & Co., Inc.
15,854
2,015,836
Zoetis, Inc. Class A
2,848
564,844
2,580,680
TOTAL HEALTH CARE
8,989,936
INDUSTRIALS - 9.7%
Air Freight & Logistics - 0.9%
United Parcel Service, Inc. Class B
4,587
680,069
Building Products - 0.9%
Johnson Controls International PLC
11,016
652,918
Commercial Services & Supplies - 1.0%
Veralto Corp.
8,820
762,224
Electrical Equipment - 3.2%
Acuity Brands, Inc.
3,952
992,900
Generac Holdings, Inc. (a)
2,652
298,377
Prysmian SpA
9,095
452,666
Regal Rexnord Corp.
3,765
645,660
2,389,603
Machinery - 2.0%
Deere & Co.
1,630
595,032
Ingersoll Rand, Inc.
5,732
523,504
Timken Co.
4,416
370,900
1,489,436
Professional Services - 1.7%
KBR, Inc.
13,419
805,543
Manpower, Inc.
5,972
430,940
1,236,483
TOTAL INDUSTRIALS
7,210,733
INFORMATION TECHNOLOGY - 27.9%
IT Services - 2.1%
Accenture PLC Class A
4,189
1,569,953
Semiconductors & Semiconductor Equipment - 8.3%
Advanced Micro Devices, Inc. (a)
2,504
482,095
First Solar, Inc. (a)
2,159
332,249
NVIDIA Corp.
5,221
4,130,438
NXP Semiconductors NV
800
199,784
ON Semiconductor Corp. (a)
12,618
995,813
6,140,379
Software - 14.4%
Autodesk, Inc. (a)
5,751
1,484,736
Gen Digital, Inc.
17,713
380,652
Intuit, Inc.
2,037
1,350,307
Microsoft Corp.
13,808
5,711,537
Salesforce, Inc.
5,657
1,746,995
10,674,227
Technology Hardware, Storage & Peripherals - 3.1%
Apple, Inc.
12,474
2,254,676
TOTAL INFORMATION TECHNOLOGY
20,639,235
MATERIALS - 4.1%
Chemicals - 1.9%
Linde PLC
3,229
1,449,240
Containers & Packaging - 2.2%
Avery Dennison Corp.
4,519
978,499
Crown Holdings, Inc.
8,138
623,534
1,602,033
TOTAL MATERIALS
3,051,273
REAL ESTATE - 1.5%
Equity Real Estate Investment Trusts (REITs) - 1.5%
Prologis, Inc.
8,566
1,141,591
UTILITIES - 1.3%
Electric Utilities - 0.9%
NextEra Energy, Inc.
12,062
665,702
Independent Power and Renewable Electricity Producers - 0.4%
Clearway Energy, Inc. Class C
14,956
326,041
TOTAL UTILITIES
991,743
TOTAL COMMON STOCKS
(Cost $63,265,816)
71,878,121
Money Market Funds - 3.2%
Shares
Value ($)
Fidelity Cash Central Fund 5.39% (b)
(Cost $2,353,567)
2,353,097
2,353,567
TOTAL INVESTMENT IN SECURITIES - 100.2%
(Cost $65,619,383)
74,231,688
NET OTHER ASSETS (LIABILITIES) - (0.2)%
(126,573)
NET ASSETS - 100.0%
74,105,115
Legend
(a)
Non-income producing
(b)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
268,489
26,946,802
24,861,724
39,824
-
-
2,353,567
0.0%
Total
268,489
26,946,802
24,861,724
39,824
-
-
2,353,567
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.
We use cookies on this site to provide a more responsive and personalized service. Continuing to browse, clicking I Agree, or closing this banner indicates agreement. See our Cookie Policy for more information.
