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 811-02105
Fidelity Salem Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | July 31 |
Date of reporting period: | January 31, 2024 |
Item 1.
Reports to Stockholders
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Contents
Top Holdings (% of Fund's net assets) | ||
JPMorgan Chase & Co. | 4.1 | |
Exxon Mobil Corp. | 3.9 | |
Bank of America Corp. | 3.5 | |
Microsoft Corp. | 3.5 | |
Chevron Corp. | 3.5 | |
Cisco Systems, Inc. | 3.2 | |
Apple, Inc. | 3.1 | |
Comcast Corp. Class A | 2.9 | |
Wells Fargo & Co. | 2.9 | |
Verizon Communications, Inc. | 2.8 | |
33.4 | ||
Market Sectors (% of Fund's net assets) | ||
Financials | 23.7 | |
Information Technology | 18.2 | |
Energy | 13.7 | |
Health Care | 12.6 | |
Communication Services | 9.7 | |
Industrials | 7.6 | |
Consumer Discretionary | 5.8 | |
Materials | 4.2 | |
Consumer Staples | 3.9 | |
Utilities | 0.3 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 9.7% | |||
Diversified Telecommunication Services - 4.8% | |||
AT&T, Inc. | 1,729,847 | 30,600,993 | |
Verizon Communications, Inc. | 1,017,123 | 43,075,159 | |
73,676,152 | |||
Entertainment - 0.3% | |||
Warner Bros Discovery, Inc. (a) | 536,879 | 5,379,528 | |
Interactive Media & Services - 0.5% | |||
Alphabet, Inc. Class A (a) | 51,320 | 7,189,932 | |
Media - 4.1% | |||
Charter Communications, Inc. Class A (a) | 24,335 | 9,021,228 | |
Comcast Corp. Class A | 971,527 | 45,214,867 | |
Fox Corp. Class A | 89,571 | 2,893,143 | |
Liberty Broadband Corp. Class C (a) | 31,709 | 2,487,571 | |
Nexstar Media Group, Inc. Class A | 7,799 | 1,385,960 | |
Paramount Global Class B | 119,753 | 1,747,196 | |
62,749,965 | |||
TOTAL COMMUNICATION SERVICES | 148,995,577 | ||
CONSUMER DISCRETIONARY - 5.8% | |||
Automobile Components - 0.2% | |||
BorgWarner, Inc. | 56,868 | 1,927,825 | |
Lear Corp. | 14,095 | 1,873,226 | |
3,801,051 | |||
Automobiles - 1.7% | |||
Ford Motor Co. | 951,317 | 11,149,435 | |
General Motors Co. | 331,327 | 12,855,488 | |
Harley-Davidson, Inc. | 30,662 | 994,982 | |
Thor Industries, Inc. (b) | 12,890 | 1,456,828 | |
26,456,733 | |||
Broadline Retail - 0.5% | |||
Amazon.com, Inc. (a) | 8,201 | 1,272,795 | |
eBay, Inc. | 125,565 | 5,156,955 | |
Macy's, Inc. | 66,202 | 1,210,835 | |
7,640,585 | |||
Distributors - 0.2% | |||
LKQ Corp. | 64,742 | 3,021,509 | |
Household Durables - 2.2% | |||
D.R. Horton, Inc. | 72,911 | 10,419,711 | |
KB Home | 18,523 | 1,103,786 | |
Lennar Corp. Class A | 63,377 | 9,497,043 | |
Meritage Homes Corp. | 8,895 | 1,473,101 | |
Mohawk Industries, Inc. (a) | 12,788 | 1,333,149 | |
PulteGroup, Inc. | 52,160 | 5,453,850 | |
Taylor Morrison Home Corp. (a) | 25,996 | 1,355,431 | |
Toll Brothers, Inc. | 26,003 | 2,583,398 | |
33,219,469 | |||
Specialty Retail - 0.6% | |||
Academy Sports & Outdoors, Inc. | 18,033 | 1,131,210 | |
Asbury Automotive Group, Inc. (a) | 4,978 | 1,040,701 | |
Best Buy Co., Inc. | 46,862 | 3,397,026 | |
Dick's Sporting Goods, Inc. | 14,868 | 2,216,373 | |
Signet Jewelers Ltd. | 10,860 | 1,080,353 | |
8,865,663 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Crocs, Inc. (a) | 14,653 | 1,486,986 | |
PVH Corp. | 14,619 | 1,758,081 | |
Tapestry, Inc. | 55,448 | 2,150,828 | |
5,395,895 | |||
TOTAL CONSUMER DISCRETIONARY | 88,400,905 | ||
CONSUMER STAPLES - 3.9% | |||
Beverages - 0.2% | |||
Molson Coors Beverage Co. Class B | 44,799 | 2,768,130 | |
Consumer Staples Distribution & Retail - 0.9% | |||
Albertsons Companies, Inc. | 97,530 | 2,069,587 | |
Kroger Co. | 160,106 | 7,387,291 | |
Walgreens Boots Alliance, Inc. | 173,480 | 3,915,444 | |
13,372,322 | |||
Food Products - 1.7% | |||
Archer Daniels Midland Co. | 129,044 | 7,172,266 | |
Bunge Global SA | 35,150 | 3,096,364 | |
Conagra Brands, Inc. | 115,638 | 3,370,848 | |
Darling Ingredients, Inc. (a) | 38,597 | 1,671,250 | |
The J.M. Smucker Co. | 25,677 | 3,377,809 | |
The Kraft Heinz Co. | 192,884 | 7,161,783 | |
25,850,320 | |||
Tobacco - 1.1% | |||
Altria Group, Inc. | 427,899 | 17,167,308 | |
TOTAL CONSUMER STAPLES | 59,158,080 | ||
ENERGY - 13.7% | |||
Oil, Gas & Consumable Fuels - 13.7% | |||
Antero Resources Corp. (a) | 68,350 | 1,526,939 | |
APA Corp. | 74,206 | 2,324,874 | |
Cheniere Energy, Inc. | 57,642 | 9,452,712 | |
Chesapeake Energy Corp. (b) | 26,954 | 2,078,423 | |
Chevron Corp. | 359,028 | 52,931,498 | |
Chord Energy Corp. | 9,987 | 1,535,601 | |
Coterra Energy, Inc. | 181,982 | 4,527,712 | |
Devon Energy Corp. | 155,008 | 6,513,436 | |
Diamondback Energy, Inc. | 43,303 | 6,657,403 | |
EQT Corp. | 99,516 | 3,522,866 | |
Exxon Mobil Corp. | 578,744 | 59,500,671 | |
HF Sinclair Corp. | 37,876 | 2,139,615 | |
Marathon Oil Corp. | 141,592 | 3,235,377 | |
Marathon Petroleum Corp. | 91,862 | 15,212,347 | |
Matador Resources Co. | 26,805 | 1,471,326 | |
Murphy Oil Corp. | 35,504 | 1,374,005 | |
Ovintiv, Inc. | 61,403 | 2,604,715 | |
PBF Energy, Inc. Class A | 26,313 | 1,329,070 | |
Permian Resource Corp. Class A | 100,569 | 1,355,670 | |
Phillips 66 Co. | 106,441 | 15,360,501 | |
Range Resources Corp. | 58,380 | 1,695,355 | |
SM Energy Co. | 28,141 | 1,043,468 | |
Southwestern Energy Co. (a) | 266,484 | 1,718,822 | |
Valero Energy Corp. | 82,368 | 11,440,915 | |
210,553,321 | |||
FINANCIALS - 23.7% | |||
Banks - 17.6% | |||
Bank of America Corp. | 1,593,393 | 54,191,296 | |
Bank OZK | 25,456 | 1,148,320 | |
Citigroup, Inc. | 463,037 | 26,008,788 | |
Citizens Financial Group, Inc. | 112,796 | 3,688,429 | |
Comerica, Inc. | 31,905 | 1,677,565 | |
Credicorp Ltd. (United States) | 16,441 | 2,440,338 | |
East West Bancorp, Inc. | 34,096 | 2,482,530 | |
Fifth Third Bancorp | 164,763 | 5,641,485 | |
First Citizens Bancshares, Inc. | 2,877 | 4,344,270 | |
First Horizon National Corp. | 135,187 | 1,925,063 | |
FNB Corp., Pennsylvania | 86,814 | 1,144,209 | |
Huntington Bancshares, Inc. | 350,341 | 4,459,841 | |
JPMorgan Chase & Co. | 365,184 | 63,673,480 | |
M&T Bank Corp. | 40,152 | 5,544,991 | |
New York Community Bancorp, Inc. | 174,796 | 1,130,930 | |
Old National Bancorp, Indiana | 70,796 | 1,166,010 | |
PNC Financial Services Group, Inc. | 96,373 | 14,572,561 | |
Regions Financial Corp. | 225,016 | 4,201,049 | |
Truist Financial Corp. | 322,662 | 11,957,854 | |
U.S. Bancorp | 204,392 | 8,490,444 | |
Valley National Bancorp | 103,175 | 992,544 | |
Webster Financial Corp. | 41,621 | 2,059,407 | |
Wells Fargo & Co. | 878,624 | 44,089,352 | |
Western Alliance Bancorp. | 26,486 | 1,694,045 | |
Zions Bancorporation NA | 35,843 | 1,501,822 | |
270,226,623 | |||
Capital Markets - 1.1% | |||
Affiliated Managers Group, Inc. | 8,180 | 1,217,511 | |
Bank of New York Mellon Corp. | 186,066 | 10,319,220 | |
State Street Corp. | 74,658 | 5,514,986 | |
17,051,717 | |||
Consumer Finance - 1.6% | |||
Ally Financial, Inc. | 65,678 | 2,409,069 | |
Capital One Financial Corp. | 92,141 | 12,468,520 | |
Discover Financial Services | 60,498 | 6,383,749 | |
Synchrony Financial | 100,114 | 3,891,431 | |
25,152,769 | |||
Financial Services - 0.7% | |||
Corebridge Financial, Inc. | 58,014 | 1,402,198 | |
Equitable Holdings, Inc. | 76,979 | 2,516,444 | |
Essent Group Ltd. | 25,829 | 1,424,728 | |
MGIC Investment Corp. | 67,092 | 1,331,105 | |
Mr. Cooper Group, Inc. (a) | 15,934 | 1,073,314 | |
Radian Group, Inc. | 37,055 | 1,073,854 | |
The Western Union Co. | 88,152 | 1,108,071 | |
9,929,714 | |||
Insurance - 2.6% | |||
American International Group, Inc. | 169,849 | 11,806,204 | |
Arch Capital Group Ltd. (a) | 90,284 | 7,442,110 | |
Axis Capital Holdings Ltd. | 18,767 | 1,117,012 | |
Everest Re Group Ltd. | 10,500 | 4,042,185 | |
Hartford Financial Services Group, Inc. | 72,767 | 6,327,818 | |
Lincoln National Corp. | 41,047 | 1,126,740 | |
Reinsurance Group of America, Inc. | 15,945 | 2,772,676 | |
RenaissanceRe Holdings Ltd. | 12,700 | 2,906,141 | |
Unum Group | 44,357 | 2,144,217 | |
39,685,103 | |||
Mortgage Real Estate Investment Trusts - 0.1% | |||
Rithm Capital Corp. | 116,907 | 1,250,905 | |
TOTAL FINANCIALS | 363,296,831 | ||
HEALTH CARE - 12.6% | |||
Biotechnology - 1.7% | |||
Gilead Sciences, Inc. | 301,462 | 23,592,416 | |
United Therapeutics Corp. (a) | 11,355 | 2,438,827 | |
26,031,243 | |||
Health Care Equipment & Supplies - 0.1% | |||
Envista Holdings Corp. (a) | 41,468 | 974,498 | |
Health Care Providers & Services - 6.2% | |||
Centene Corp. (a) | 129,242 | 9,733,215 | |
Cigna Group | 70,795 | 21,305,755 | |
CVS Health Corp. | 310,742 | 23,109,883 | |
Elevance Health, Inc. | 56,845 | 28,049,597 | |
Humana, Inc. | 29,785 | 11,260,517 | |
Tenet Healthcare Corp. (a) | 24,569 | 2,032,839 | |
95,491,806 | |||
Pharmaceuticals - 4.6% | |||
Bristol-Myers Squibb Co. | 492,281 | 24,057,772 | |
Jazz Pharmaceuticals PLC (a) | 15,232 | 1,869,271 | |
Perrigo Co. PLC | 32,784 | 1,051,711 | |
Pfizer, Inc. | 1,366,071 | 36,993,203 | |
Royalty Pharma PLC | 92,565 | 2,627,920 | |
Viatris, Inc. | 290,244 | 3,416,172 | |
70,016,049 | |||
TOTAL HEALTH CARE | 192,513,596 | ||
INDUSTRIALS - 7.6% | |||
Aerospace & Defense - 2.1% | |||
RTX Corp. | 346,027 | 31,529,980 | |
Air Freight & Logistics - 0.9% | |||
FedEx Corp. | 55,961 | 13,502,830 | |
Building Products - 0.7% | |||
Builders FirstSource, Inc. (a) | 29,855 | 5,186,709 | |
Owens Corning | 21,502 | 3,258,198 | |
UFP Industries, Inc. | 14,955 | 1,696,645 | |
10,141,552 | |||
Electrical Equipment - 0.2% | |||
Atkore, Inc. | 9,144 | 1,394,734 | |
Sensata Technologies, Inc. PLC | 36,618 | 1,324,473 | |
2,719,207 | |||
Machinery - 1.9% | |||
AGCO Corp. | 15,036 | 1,839,354 | |
Allison Transmission Holdings, Inc. | 21,650 | 1,310,691 | |
CNH Industrial NV | 234,981 | 2,819,772 | |
Cummins, Inc. | 34,293 | 8,206,315 | |
Mueller Industries, Inc. | 27,467 | 1,318,416 | |
Oshkosh Corp. | 15,826 | 1,742,443 | |
PACCAR, Inc. | 126,551 | 12,704,455 | |
29,941,446 | |||
Passenger Airlines - 1.0% | |||
American Airlines Group, Inc. (a) | 158,115 | 2,249,976 | |
Delta Air Lines, Inc. | 155,677 | 6,093,198 | |
Southwest Airlines Co. | 144,222 | 4,310,796 | |
United Airlines Holdings, Inc. (a) | 79,350 | 3,283,503 | |
15,937,473 | |||
Professional Services - 0.3% | |||
Concentrix Corp. | 11,440 | 1,016,673 | |
SS&C Technologies Holdings, Inc. | 52,098 | 3,179,020 | |
4,195,693 | |||
Trading Companies & Distributors - 0.5% | |||
AerCap Holdings NV (a) | 48,934 | 3,746,387 | |
Beacon Roofing Supply, Inc. (a) | 14,058 | 1,165,268 | |
Boise Cascade Co. | 9,578 | 1,297,436 | |
WESCO International, Inc. | 10,627 | 1,843,997 | |
8,053,088 | |||
TOTAL INDUSTRIALS | 116,021,269 | ||
INFORMATION TECHNOLOGY - 18.2% | |||
Communications Equipment - 3.4% | |||
Cisco Systems, Inc. | 979,972 | 49,174,995 | |
Juniper Networks, Inc. | 77,146 | 2,851,316 | |
52,026,311 | |||
Electronic Equipment, Instruments & Components - 0.8% | |||
Arrow Electronics, Inc. (a) | 13,103 | 1,456,398 | |
Avnet, Inc. | 21,892 | 991,708 | |
Coherent Corp. (a) | 31,885 | 1,515,813 | |
Flex Ltd. (a) | 105,207 | 2,497,614 | |
Jabil, Inc. | 30,954 | 3,878,227 | |
TD SYNNEX Corp. | 12,410 | 1,240,752 | |
11,580,512 | |||
IT Services - 3.5% | |||
Amdocs Ltd. | 28,797 | 2,640,109 | |
Cognizant Technology Solutions Corp. Class A | 121,310 | 9,355,427 | |
DXC Technology Co. (a) | 46,849 | 1,021,308 | |
IBM Corp. | 220,916 | 40,573,433 | |
53,590,277 | |||
Semiconductors & Semiconductor Equipment - 2.4% | |||
Qualcomm, Inc. | 225,464 | 33,483,659 | |
Skyworks Solutions, Inc. | 38,563 | 4,028,291 | |
37,511,950 | |||
Software - 4.0% | |||
Gen Digital, Inc. | 136,411 | 3,202,930 | |
Microsoft Corp. | 134,243 | 53,372,332 | |
Zoom Video Communications, Inc. Class A (a) | 61,522 | 3,974,936 | |
60,550,198 | |||
Technology Hardware, Storage & Peripherals - 4.1% | |||
Apple, Inc. | 258,623 | 47,690,081 | |
Dell Technologies, Inc. | 61,527 | 5,099,358 | |
Hewlett Packard Enterprise Co. | 310,371 | 4,745,573 | |
HP, Inc. | 210,406 | 6,040,756 | |
63,575,768 | |||
TOTAL INFORMATION TECHNOLOGY | 278,835,016 | ||
MATERIALS - 4.2% | |||
Chemicals - 1.8% | |||
Albemarle Corp. (b) | 28,392 | 3,257,698 | |
CF Industries Holdings, Inc. | 46,224 | 3,490,374 | |
Dow, Inc. | 169,693 | 9,095,545 | |
Eastman Chemical Co. | 28,685 | 2,396,632 | |
LyondellBasell Industries NV Class A | 61,995 | 5,834,969 | |
Olin Corp. | 29,649 | 1,543,823 | |
The Mosaic Co. | 79,073 | 2,428,332 | |
28,047,373 | |||
Containers & Packaging - 0.6% | |||
Berry Global Group, Inc. | 28,573 | 1,870,389 | |
Graphic Packaging Holding Co. | 74,045 | 1,888,888 | |
International Paper Co. | 83,714 | 2,999,473 | |
WestRock Co. | 62,033 | 2,497,449 | |
9,256,199 | |||
Metals & Mining - 1.8% | |||
Alpha Metallurgical Resources | 2,860 | 1,141,826 | |
Cleveland-Cliffs, Inc. (a) | 122,144 | 2,448,987 | |
Commercial Metals Co. | 28,284 | 1,476,990 | |
Nucor Corp. | 59,477 | 11,118,036 | |
Reliance Steel & Aluminum Co. | 13,904 | 3,968,480 | |
Steel Dynamics, Inc. | 36,800 | 4,441,392 | |
United States Steel Corp. | 53,961 | 2,537,246 | |
27,132,957 | |||
TOTAL MATERIALS | 64,436,529 | ||
UTILITIES - 0.3% | |||
Gas Utilities - 0.1% | |||
National Fuel Gas Co. | 22,214 | 1,047,612 | |
Independent Power and Renewable Electricity Producers - 0.2% | |||
Vistra Corp. | 81,314 | 3,336,313 | |
TOTAL UTILITIES | 4,383,925 | ||
TOTAL COMMON STOCKS (Cost $1,388,315,857) | 1,526,595,049 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $299,073) | 300,000 | 299,079 | |
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 2,086,013 | 2,086,430 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 5,940,577 | 5,941,171 | |
TOTAL MONEY MARKET FUNDS (Cost $8,027,601) | 8,027,601 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $1,396,642,531) | 1,534,921,729 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (3,204,497) |
NET ASSETS - 100.0% | 1,531,717,232 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 20 | Mar 2024 | 4,870,500 | 169,441 | 169,441 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $267,177. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 224,734 | 660,070,133 | 658,208,437 | 278,050 | - | - | 2,086,430 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 3,834,773 | 30,526,299 | 28,419,901 | 1,862 | - | - | 5,941,171 | 0.0% |
Total | 4,059,507 | 690,596,432 | 686,628,338 | 279,912 | - | - | 8,027,601 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 148,995,577 | 148,995,577 | - | - |
Consumer Discretionary | 88,400,905 | 88,400,905 | - | - |
Consumer Staples | 59,158,080 | 59,158,080 | - | - |
Energy | 210,553,321 | 210,553,321 | - | - |
Financials | 363,296,831 | 363,296,831 | - | - |
Health Care | 192,513,596 | 192,513,596 | - | - |
Industrials | 116,021,269 | 116,021,269 | - | - |
Information Technology | 278,835,016 | 278,835,016 | - | - |
Materials | 64,436,529 | 64,436,529 | - | - |
Utilities | 4,383,925 | 4,383,925 | - | - |
U.S. Government and Government Agency Obligations | 299,079 | - | 299,079 | - |
Money Market Funds | 8,027,601 | 8,027,601 | - | - |
Total Investments in Securities: | 1,534,921,729 | 1,534,622,650 | 299,079 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 169,441 | 169,441 | - | - |
Total Assets | 169,441 | 169,441 | - | - |
Total Derivative Instruments: | 169,441 | 169,441 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 169,441 | 0 |
Total Equity Risk | 169,441 | 0 |
Total Value of Derivatives | 169,441 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $5,636,163) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,388,614,930) | $ | 1,526,894,128 | ||
Fidelity Central Funds (cost $8,027,601) | 8,027,601 | |||
Total Investment in Securities (cost $1,396,642,531) | $ | 1,534,921,729 | ||
Receivable for fund shares sold | 50,356,373 | |||
Dividends receivable | 2,645,900 | |||
Distributions receivable from Fidelity Central Funds | 39,903 | |||
Prepaid expenses | 280 | |||
Total assets | 1,587,964,185 | |||
Liabilities | ||||
Payable for investments purchased | $ | 49,602,152 | ||
Payable for fund shares redeemed | 457,711 | |||
Accrued management fee | 120,726 | |||
Payable for daily variation margin on futures contracts | 80,500 | |||
Other payables and accrued expenses | 45,064 | |||
Collateral on securities loaned | 5,940,800 | |||
Total Liabilities | 56,246,953 | |||
Net Assets | $ | 1,531,717,232 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,377,536,971 | ||
Total accumulated earnings (loss) | 154,180,261 | |||
Net Assets | $ | 1,531,717,232 | ||
Net Asset Value, offering price and redemption price per share ($1,531,717,232 ÷ 140,629,579 shares) | $ | 10.89 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 13,419,668 | ||
Interest | 7,847 | |||
Income from Fidelity Central Funds (including $1,862 from security lending) | 279,912 | |||
Total Income | 13,707,427 | |||
Expenses | ||||
Management fee | $ | 435,539 | ||
Custodian fees and expenses | 12,598 | |||
Independent trustees' fees and expenses | 1,041 | |||
Registration fees | 26,040 | |||
Audit | 30,147 | |||
Legal | 4,748 | |||
Miscellaneous | 5,827 | |||
Total Expenses | 515,940 | |||
Net Investment income (loss) | 13,191,487 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 19,648,742 | |||
Futures contracts | 164,244 | |||
Total net realized gain (loss) | 19,812,986 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 60,798,143 | |||
Futures contracts | 113,092 | |||
Total change in net unrealized appreciation (depreciation) | 60,911,235 | |||
Net gain (loss) | 80,724,221 | |||
Net increase (decrease) in net assets resulting from operations | $ | 93,915,708 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 13,191,487 | $ | 38,920,584 |
Net realized gain (loss) | 19,812,986 | 87,798,644 | ||
Change in net unrealized appreciation (depreciation) | 60,911,235 | (260,301,630) | ||
Net increase (decrease) in net assets resulting from operations | 93,915,708 | (133,582,402) | ||
Distributions to shareholders | (49,337,422) | (299,214,923) | ||
Share transactions | ||||
Proceeds from sales of shares | 1,100,866,336 | 408,566,801 | ||
Reinvestment of distributions | 44,602,754 | 289,927,267 | ||
Cost of shares redeemed | (50,668,274) | (2,825,899,380) | ||
Net increase (decrease) in net assets resulting from share transactions | 1,094,800,816 | (2,127,405,312) | ||
Total increase (decrease) in net assets | 1,139,379,102 | (2,560,202,637) | ||
Net Assets | ||||
Beginning of period | 392,338,130 | 2,952,540,767 | ||
End of period | $ | 1,531,717,232 | $ | 392,338,130 |
Other Information | ||||
Shares | ||||
Sold | 106,952,540 | 36,999,453 | ||
Issued in reinvestment of distributions | 4,371,902 | 26,793,151 | ||
Redeemed | (4,865,178) | (273,043,165) | ||
Net increase (decrease) | 106,459,264 | (209,250,561) | ||
Fidelity® SAI U.S. Value Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 11.48 | $ | 12.13 | $ | 12.22 | $ | 8.82 | $ | 10.06 | $ | 10.36 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .16 | .32 | .31 | .31 | .29 | .25 | ||||||
Net realized and unrealized gain (loss) | .29 | .40 C | .31 | 3.35 | (1.27) | (.22) | ||||||
Total from investment operations | .45 | .72 | .62 | 3.66 | (.98) | .03 | ||||||
Distributions from net investment income | (.59) | (.38) | (.28) | (.26) | (.26) | (.19) | ||||||
Distributions from net realized gain | (.45) | (.99) | (.42) | - | - | (.14) | ||||||
Total distributions | (1.04) | (1.37) | (.71) D | (.26) | (.26) | (.33) | ||||||
Net asset value, end of period | $ | 10.89 | $ | 11.48 | $ | 12.13 | $ | 12.22 | $ | 8.82 | $ | 10.06 |
Total Return E,F | 4.71% | 6.74% | 5.21% | 42.39% | (10.13)% | .62% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .12% I,J | .12% | .10% | .11% | .11% | .21% | ||||||
Expenses net of fee waivers, if any | .12% I,J | .12% | .10% | .11% | .11% | .15% | ||||||
Expenses net of all reductions | .12% I,J | .12% | .10% | .11% | .11% | .15% | ||||||
Net investment income (loss) | 3.06% I,J | 2.90% | 2.49% | 2.89% | 3.12% | 2.61% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,531,717 | $ | 392,338 | $ | 2,952,541 | $ | 3,589,260 | $ | 2,282,301 | $ | 1,788,140 |
Portfolio turnover rate K | 62% I | 86% | 62% | 80% | 82% | 99% |
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 | $171,994,211 |
Gross unrealized depreciation | (39,279,400) |
Net unrealized appreciation (depreciation) | $132,714,811 |
Tax cost | $1,402,376,359 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI U.S. Value Index Fund | 1,332,926,578 | 277,479,626 |
Amount | |
Fidelity SAI U.S. Value Index Fund | $550 |
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 SAI U.S. Value Index Fund | $179 | $ - | $- |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity SAI U.S. Value Index Fund | 69% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI U.S. Value Index Fund | .12% | |||||||||
Actual | $ 1,000 | $ 1,047.10 | $ .62 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.53 | $ .61 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 7.2 | |
Apple, Inc. | 6.6 | |
NVIDIA Corp. | 3.7 | |
Amazon.com, Inc. | 3.5 | |
Meta Platforms, Inc. Class A | 2.1 | |
Alphabet, Inc. Class A | 2.1 | |
Alphabet, Inc. Class C | 1.7 | |
Berkshire Hathaway, Inc. Class B | 1.7 | |
Tesla, Inc. | 1.3 | |
Broadcom, Inc. | 1.3 | |
31.2 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 29.4 | |
Financials | 13.1 | |
Health Care | 12.7 | |
Consumer Discretionary | 10.3 | |
Communication Services | 8.8 | |
Industrials | 8.6 | |
Consumer Staples | 6.1 | |
Energy | 3.8 | |
Real Estate | 2.4 | |
Materials | 2.3 | |
Utilities | 2.2 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 8.8% | |||
Diversified Telecommunication Services - 0.7% | |||
AT&T, Inc. | 2,021,428 | 35,759,061 | |
Verizon Communications, Inc. | 1,188,569 | 50,335,897 | |
86,094,958 | |||
Entertainment - 1.3% | |||
Electronic Arts, Inc. | 69,197 | 9,520,123 | |
Live Nation Entertainment, Inc. (a) | 40,114 | 3,564,129 | |
Netflix, Inc. (a) | 123,739 | 69,802,407 | |
Take-Two Interactive Software, Inc. (a) | 44,715 | 7,374,845 | |
The Walt Disney Co. | 517,309 | 49,687,529 | |
Warner Bros Discovery, Inc. (a) | 627,375 | 6,286,298 | |
146,235,331 | |||
Interactive Media & Services - 5.9% | |||
Alphabet, Inc.: | |||
Class A (a) | 1,673,125 | 234,404,813 | |
Class C (a) | 1,408,130 | 199,672,834 | |
Match Group, Inc. (a) | 76,846 | 2,949,349 | |
Meta Platforms, Inc. Class A | 627,519 | 244,820,263 | |
681,847,259 | |||
Media - 0.7% | |||
Charter Communications, Inc. Class A (a) | 28,437 | 10,541,880 | |
Comcast Corp. Class A | 1,135,286 | 52,836,210 | |
Fox Corp.: | |||
Class A | 69,969 | 2,259,999 | |
Class B | 37,217 | 1,116,882 | |
Interpublic Group of Companies, Inc. | 108,282 | 3,572,223 | |
News Corp.: | |||
Class A | 107,630 | 2,652,003 | |
Class B (b) | 32,424 | 829,082 | |
Omnicom Group, Inc. | 55,959 | 5,057,574 | |
Paramount Global Class B | 136,398 | 1,990,047 | |
80,855,900 | |||
Wireless Telecommunication Services - 0.2% | |||
T-Mobile U.S., Inc. | 143,860 | 23,194,548 | |
TOTAL COMMUNICATION SERVICES | 1,018,227,996 | ||
CONSUMER DISCRETIONARY - 10.3% | |||
Automobile Components - 0.1% | |||
Aptiv PLC (a) | 79,970 | 6,503,960 | |
BorgWarner, Inc. | 66,454 | 2,252,791 | |
8,756,751 | |||
Automobiles - 1.5% | |||
Ford Motor Co. | 1,111,670 | 13,028,772 | |
General Motors Co. | 387,175 | 15,022,390 | |
Tesla, Inc. (a) | 781,898 | 146,441,676 | |
174,492,838 | |||
Broadline Retail - 3.5% | |||
Amazon.com, Inc. (a) | 2,571,008 | 399,020,442 | |
eBay, Inc. | 146,730 | 6,026,201 | |
Etsy, Inc. (a) | 33,854 | 2,253,322 | |
407,299,965 | |||
Distributors - 0.1% | |||
Genuine Parts Co. | 39,636 | 5,558,156 | |
LKQ Corp. | 75,654 | 3,530,772 | |
Pool Corp. | 10,935 | 4,059,619 | |
13,148,547 | |||
Hotels, Restaurants & Leisure - 2.2% | |||
Airbnb, Inc. Class A (a) | 122,910 | 17,716,247 | |
Booking Holdings, Inc. (a) | 9,864 | 34,597,684 | |
Caesars Entertainment, Inc. (a) | 60,985 | 2,675,412 | |
Carnival Corp. (a) | 284,837 | 4,722,597 | |
Chipotle Mexican Grill, Inc. (a) | 7,759 | 18,689,646 | |
Darden Restaurants, Inc. | 34,015 | 5,530,159 | |
Domino's Pizza, Inc. | 9,861 | 4,202,955 | |
Expedia, Inc. (a) | 37,693 | 5,591,003 | |
Hilton Worldwide Holdings, Inc. | 72,500 | 13,844,600 | |
Las Vegas Sands Corp. | 104,365 | 5,105,536 | |
Marriott International, Inc. Class A | 69,746 | 16,720,209 | |
McDonald's Corp. | 205,066 | 60,026,920 | |
MGM Resorts International (a) | 77,257 | 3,350,636 | |
Norwegian Cruise Line Holdings Ltd. (a)(b) | 120,275 | 2,140,895 | |
Royal Caribbean Cruises Ltd. (a) | 66,646 | 8,497,365 | |
Starbucks Corp. | 323,032 | 30,051,667 | |
Wynn Resorts Ltd. | 27,142 | 2,563,019 | |
Yum! Brands, Inc. | 79,248 | 10,261,824 | |
246,288,374 | |||
Household Durables - 0.4% | |||
D.R. Horton, Inc. | 85,201 | 12,176,075 | |
Garmin Ltd. | 43,274 | 5,170,810 | |
Lennar Corp. Class A | 70,722 | 10,597,692 | |
Mohawk Industries, Inc. (a) | 14,943 | 1,557,808 | |
NVR, Inc. (a) | 899 | 6,360,686 | |
PulteGroup, Inc. | 60,952 | 6,373,141 | |
Whirlpool Corp. | 15,508 | 1,698,436 | |
43,934,648 | |||
Leisure Products - 0.0% | |||
Hasbro, Inc. | 36,871 | 1,804,835 | |
Specialty Retail - 2.0% | |||
AutoZone, Inc. (a) | 4,985 | 13,769,218 | |
Bath & Body Works, Inc. | 64,284 | 2,742,355 | |
Best Buy Co., Inc. | 54,762 | 3,969,697 | |
CarMax, Inc. (a) | 44,858 | 3,192,992 | |
Lowe's Companies, Inc. | 163,160 | 34,726,974 | |
O'Reilly Automotive, Inc. (a) | 16,726 | 17,111,534 | |
Ross Stores, Inc. | 95,737 | 13,429,986 | |
The Home Depot, Inc. | 282,735 | 99,794,146 | |
TJX Companies, Inc. | 323,450 | 30,698,640 | |
Tractor Supply Co. | 30,566 | 6,865,124 | |
Ulta Beauty, Inc. (a) | 13,918 | 6,987,532 | |
233,288,198 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
lululemon athletica, Inc. (a) | 32,555 | 14,774,110 | |
NIKE, Inc. Class B | 346,049 | 35,134,355 | |
Ralph Lauren Corp. | 11,239 | 1,614,707 | |
Tapestry, Inc. | 64,795 | 2,513,398 | |
VF Corp. | 93,452 | 1,538,220 | |
55,574,790 | |||
TOTAL CONSUMER DISCRETIONARY | 1,184,588,946 | ||
CONSUMER STAPLES - 6.1% | |||
Beverages - 1.5% | |||
Brown-Forman Corp. Class B (non-vtg.) | 51,732 | 2,840,087 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 45,694 | 11,198,686 | |
Keurig Dr. Pepper, Inc. | 284,639 | 8,949,050 | |
Molson Coors Beverage Co. Class B | 52,350 | 3,234,707 | |
Monster Beverage Corp. | 208,846 | 11,490,707 | |
PepsiCo, Inc. | 388,697 | 65,507,105 | |
The Coca-Cola Co. | 1,100,070 | 65,443,164 | |
168,663,506 | |||
Consumer Staples Distribution & Retail - 1.8% | |||
Costco Wholesale Corp. | 125,170 | 86,978,130 | |
Dollar General Corp. | 62,049 | 8,194,811 | |
Dollar Tree, Inc. (a) | 59,089 | 7,718,205 | |
Kroger Co. | 187,093 | 8,632,471 | |
Sysco Corp. | 142,546 | 11,536,248 | |
Target Corp. | 130,503 | 18,150,357 | |
Walgreens Boots Alliance, Inc. | 202,722 | 4,575,436 | |
Walmart, Inc. | 403,303 | 66,645,821 | |
212,431,479 | |||
Food Products - 0.8% | |||
Archer Daniels Midland Co. | 150,796 | 8,381,242 | |
Bunge Global SA | 41,075 | 3,618,297 | |
Campbell Soup Co. | 55,534 | 2,478,482 | |
Conagra Brands, Inc. | 135,129 | 3,939,010 | |
General Mills, Inc. | 164,337 | 10,667,115 | |
Hormel Foods Corp. | 81,884 | 2,486,817 | |
Kellanova | 74,564 | 4,083,125 | |
Lamb Weston Holdings, Inc. | 40,973 | 4,197,274 | |
McCormick & Co., Inc. (non-vtg.) | 71,044 | 4,842,359 | |
Mondelez International, Inc. | 384,612 | 28,949,745 | |
The Hershey Co. | 42,375 | 8,201,258 | |
The J.M. Smucker Co. | 30,005 | 3,947,158 | |
The Kraft Heinz Co. | 225,396 | 8,368,953 | |
Tyson Foods, Inc. Class A | 80,640 | 4,415,846 | |
98,576,681 | |||
Household Products - 1.3% | |||
Church & Dwight Co., Inc. | 69,656 | 6,955,152 | |
Colgate-Palmolive Co. | 232,781 | 19,600,160 | |
Kimberly-Clark Corp. | 95,541 | 11,557,595 | |
Procter & Gamble Co. | 666,330 | 104,707,096 | |
The Clorox Co. | 35,057 | 5,092,029 | |
147,912,032 | |||
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 65,676 | 8,668,575 | |
Kenvue, Inc. | 487,260 | 10,115,518 | |
18,784,093 | |||
Tobacco - 0.5% | |||
Altria Group, Inc. | 500,025 | 20,061,003 | |
Philip Morris International, Inc. | 438,891 | 39,873,247 | |
59,934,250 | |||
TOTAL CONSUMER STAPLES | 706,302,041 | ||
ENERGY - 3.8% | |||
Energy Equipment & Services - 0.3% | |||
Baker Hughes Co. Class A | 284,479 | 8,107,652 | |
Halliburton Co. | 253,046 | 9,021,090 | |
Schlumberger Ltd. | 403,849 | 19,667,446 | |
36,796,188 | |||
Oil, Gas & Consumable Fuels - 3.5% | |||
APA Corp. | 86,715 | 2,716,781 | |
Chevron Corp. | 496,339 | 73,175,259 | |
ConocoPhillips Co. | 335,700 | 37,554,759 | |
Coterra Energy, Inc. | 212,657 | 5,290,906 | |
Devon Energy Corp. | 181,136 | 7,611,335 | |
Diamondback Energy, Inc. | 50,602 | 7,779,551 | |
EOG Resources, Inc. | 164,866 | 18,760,102 | |
EQT Corp. | 116,290 | 4,116,666 | |
Exxon Mobil Corp. | 1,132,470 | 116,429,241 | |
Hess Corp. | 78,155 | 10,983,122 | |
Kinder Morgan, Inc. | 546,721 | 9,250,519 | |
Marathon Oil Corp. | 165,459 | 3,780,738 | |
Marathon Petroleum Corp. | 107,347 | 17,776,663 | |
Occidental Petroleum Corp. | 186,671 | 10,746,649 | |
ONEOK, Inc. | 164,697 | 11,240,570 | |
Phillips 66 Co. | 124,383 | 17,949,711 | |
Pioneer Natural Resources Co. | 65,960 | 15,159,587 | |
Targa Resources Corp. | 63,039 | 5,355,793 | |
The Williams Companies, Inc. | 343,924 | 11,920,406 | |
Valero Energy Corp. | 96,252 | 13,369,403 | |
400,967,761 | |||
TOTAL ENERGY | 437,763,949 | ||
FINANCIALS - 13.1% | |||
Banks - 3.3% | |||
Bank of America Corp. | 1,946,488 | 66,200,057 | |
Citigroup, Inc. | 541,086 | 30,392,801 | |
Citizens Financial Group, Inc. | 131,809 | 4,310,154 | |
Comerica, Inc. | 37,283 | 1,960,340 | |
Fifth Third Bancorp | 192,535 | 6,592,398 | |
Huntington Bancshares, Inc. | 409,395 | 5,211,598 | |
JPMorgan Chase & Co. | 817,335 | 142,510,531 | |
KeyCorp | 264,696 | 3,846,033 | |
M&T Bank Corp. | 46,920 | 6,479,652 | |
PNC Financial Services Group, Inc. | 112,618 | 17,028,968 | |
Regions Financial Corp. | 262,945 | 4,909,183 | |
Truist Financial Corp. | 377,050 | 13,973,473 | |
U.S. Bancorp | 440,189 | 18,285,451 | |
Wells Fargo & Co. | 1,026,724 | 51,521,010 | |
Zions Bancorporation NA | 41,884 | 1,754,940 | |
374,976,589 | |||
Capital Markets - 2.9% | |||
Ameriprise Financial, Inc. | 28,610 | 11,067,206 | |
Bank of New York Mellon Corp. | 217,430 | 12,058,668 | |
BlackRock, Inc. Class A | 39,534 | 30,611,572 | |
Blackstone, Inc. | 200,883 | 24,999,889 | |
Cboe Global Markets, Inc. | 29,842 | 5,486,452 | |
Charles Schwab Corp. | 420,742 | 26,473,087 | |
CME Group, Inc. | 101,775 | 20,949,366 | |
FactSet Research Systems, Inc. | 10,740 | 5,111,381 | |
Franklin Resources, Inc. | 79,701 | 2,122,438 | |
Goldman Sachs Group, Inc. | 92,197 | 35,404,570 | |
Intercontinental Exchange, Inc. | 161,817 | 20,604,159 | |
Invesco Ltd. | 127,096 | 2,011,930 | |
MarketAxess Holdings, Inc. | 10,716 | 2,416,565 | |
Moody's Corp. | 44,494 | 17,443,428 | |
Morgan Stanley | 357,300 | 31,170,852 | |
MSCI, Inc. | 22,360 | 13,385,143 | |
NASDAQ, Inc. | 96,239 | 5,559,727 | |
Northern Trust Corp. | 58,532 | 4,661,488 | |
Raymond James Financial, Inc. | 53,128 | 5,853,643 | |
S&P Global, Inc. | 91,600 | 41,068,860 | |
State Street Corp. | 87,242 | 6,444,567 | |
T. Rowe Price Group, Inc. | 63,179 | 6,851,763 | |
331,756,754 | |||
Consumer Finance - 0.5% | |||
American Express Co. | 162,762 | 32,672,844 | |
Capital One Financial Corp. | 107,672 | 14,570,175 | |
Discover Financial Services | 70,696 | 7,459,842 | |
Synchrony Financial | 116,989 | 4,547,362 | |
59,250,223 | |||
Financial Services - 4.3% | |||
Berkshire Hathaway, Inc. Class B (a) | 514,386 | 197,390,484 | |
Fidelity National Information Services, Inc. | 167,505 | 10,428,861 | |
Fiserv, Inc. (a) | 169,682 | 24,072,785 | |
FleetCor Technologies, Inc. (a) | 20,413 | 5,918,341 | |
Global Payments, Inc. | 73,616 | 9,807,860 | |
Jack Henry & Associates, Inc. | 20,590 | 3,414,440 | |
MasterCard, Inc. Class A | 234,115 | 105,171,481 | |
PayPal Holdings, Inc. (a) | 304,808 | 18,699,971 | |
Visa, Inc. Class A | 450,650 | 123,144,619 | |
498,048,842 | |||
Insurance - 2.1% | |||
AFLAC, Inc. | 150,345 | 12,680,097 | |
Allstate Corp. | 73,983 | 11,485,861 | |
American International Group, Inc. | 198,478 | 13,796,206 | |
Aon PLC | 56,604 | 16,892,332 | |
Arch Capital Group Ltd. (a) | 105,502 | 8,696,530 | |
Arthur J. Gallagher & Co. | 61,038 | 14,170,582 | |
Assurant, Inc. | 14,868 | 2,497,081 | |
Brown & Brown, Inc. | 66,782 | 5,179,612 | |
Chubb Ltd. | 115,344 | 28,259,280 | |
Cincinnati Financial Corp. | 44,360 | 4,915,088 | |
Everest Re Group Ltd. | 12,270 | 4,723,582 | |
Globe Life, Inc. | 24,214 | 2,973,963 | |
Hartford Financial Services Group, Inc. | 85,033 | 7,394,470 | |
Loews Corp. | 51,756 | 3,770,942 | |
Marsh & McLennan Companies, Inc. | 139,400 | 27,021,296 | |
MetLife, Inc. | 175,782 | 12,185,208 | |
Principal Financial Group, Inc. | 62,011 | 4,905,070 | |
Progressive Corp. | 165,401 | 29,482,728 | |
Prudential Financial, Inc. | 102,061 | 10,709,261 | |
The Travelers Companies, Inc. | 64,572 | 13,647,938 | |
W.R. Berkley Corp. | 57,595 | 4,715,879 | |
Willis Towers Watson PLC | 29,193 | 7,190,236 | |
247,293,242 | |||
TOTAL FINANCIALS | 1,511,325,650 | ||
HEALTH CARE - 12.7% | |||
Biotechnology - 2.1% | |||
AbbVie, Inc. | 499,146 | 82,059,602 | |
Amgen, Inc. | 151,304 | 47,548,795 | |
Biogen, Inc. (a) | 40,965 | 10,104,427 | |
Gilead Sciences, Inc. | 352,277 | 27,569,198 | |
Incyte Corp. (a) | 52,588 | 3,090,597 | |
Moderna, Inc. (a) | 93,782 | 9,476,671 | |
Regeneron Pharmaceuticals, Inc. (a) | 30,287 | 28,553,978 | |
Vertex Pharmaceuticals, Inc. (a) | 72,851 | 31,572,166 | |
239,975,434 | |||
Health Care Equipment & Supplies - 2.6% | |||
Abbott Laboratories | 490,614 | 55,512,974 | |
Align Technology, Inc. (a) | 20,137 | 5,383,023 | |
Baxter International, Inc. | 143,429 | 5,549,268 | |
Becton, Dickinson & Co. | 82,019 | 19,586,957 | |
Boston Scientific Corp. (a) | 413,960 | 26,187,110 | |
Dentsply Sirona, Inc. | 59,896 | 2,081,386 | |
DexCom, Inc. (a) | 109,234 | 13,255,546 | |
Edwards Lifesciences Corp. (a) | 171,467 | 13,455,015 | |
GE Healthcare Holding LLC | 110,686 | 8,119,925 | |
Hologic, Inc. (a) | 69,249 | 5,154,896 | |
IDEXX Laboratories, Inc. (a) | 23,493 | 12,100,774 | |
Insulet Corp. (a) | 19,742 | 3,768,156 | |
Intuitive Surgical, Inc. (a) | 99,537 | 37,646,884 | |
Medtronic PLC | 376,164 | 32,929,397 | |
ResMed, Inc. | 41,585 | 7,909,467 | |
STERIS PLC | 27,932 | 6,115,711 | |
Stryker Corp. | 95,588 | 32,067,862 | |
Teleflex, Inc. | 13,286 | 3,226,239 | |
The Cooper Companies, Inc. | 14,001 | 5,222,793 | |
Zimmer Biomet Holdings, Inc. | 59,082 | 7,420,699 | |
302,694,082 | |||
Health Care Providers & Services - 2.8% | |||
Cardinal Health, Inc. | 69,681 | 7,608,468 | |
Cencora, Inc. | 47,131 | 10,966,441 | |
Centene Corp. (a) | 151,027 | 11,373,843 | |
Cigna Group | 82,728 | 24,896,992 | |
CVS Health Corp. | 363,121 | 27,005,309 | |
DaVita, Inc. (a) | 15,229 | 1,647,169 | |
Elevance Health, Inc. | 66,427 | 32,777,739 | |
HCA Holdings, Inc. | 55,997 | 17,073,485 | |
Henry Schein, Inc. (a) | 36,919 | 2,763,018 | |
Humana, Inc. | 34,805 | 13,158,378 | |
Laboratory Corp. of America Holdings | 24,003 | 5,335,867 | |
McKesson Corp. | 37,619 | 18,805,362 | |
Molina Healthcare, Inc. (a) | 16,482 | 5,874,844 | |
Quest Diagnostics, Inc. | 31,787 | 4,082,404 | |
UnitedHealth Group, Inc. | 261,491 | 133,815,404 | |
Universal Health Services, Inc. Class B | 17,248 | 2,739,155 | |
319,923,878 | |||
Life Sciences Tools & Services - 1.4% | |||
Agilent Technologies, Inc. | 82,719 | 10,761,742 | |
Bio-Rad Laboratories, Inc. Class A (a) | 5,918 | 1,899,027 | |
Bio-Techne Corp. | 44,712 | 3,144,148 | |
Charles River Laboratories International, Inc. (a) | 14,503 | 3,136,709 | |
Danaher Corp. | 185,927 | 44,605,747 | |
Illumina, Inc. (a) | 44,895 | 6,420,434 | |
IQVIA Holdings, Inc. (a) | 51,772 | 10,780,484 | |
Mettler-Toledo International, Inc. (a) | 6,130 | 7,338,775 | |
Revvity, Inc. | 34,889 | 3,739,403 | |
Thermo Fisher Scientific, Inc. | 109,234 | 58,874,941 | |
Waters Corp. (a) | 16,716 | 5,310,840 | |
West Pharmaceutical Services, Inc. | 20,918 | 7,803,042 | |
163,815,292 | |||
Pharmaceuticals - 3.8% | |||
Bristol-Myers Squibb Co. | 575,259 | 28,112,907 | |
Catalent, Inc. (a) | 50,966 | 2,631,884 | |
Eli Lilly & Co. | 225,443 | 145,548,255 | |
Johnson & Johnson | 680,577 | 108,143,685 | |
Merck & Co., Inc. | 716,410 | 86,528,000 | |
Pfizer, Inc. | 1,596,334 | 43,228,725 | |
Viatris, Inc. | 339,167 | 3,991,996 | |
Zoetis, Inc. Class A | 129,799 | 24,377,550 | |
442,563,002 | |||
TOTAL HEALTH CARE | 1,468,971,688 | ||
INDUSTRIALS - 8.6% | |||
Aerospace & Defense - 1.6% | |||
Axon Enterprise, Inc. (a) | 19,914 | 4,959,781 | |
General Dynamics Corp. | 64,037 | 16,969,165 | |
Howmet Aerospace, Inc. | 110,586 | 6,221,568 | |
Huntington Ingalls Industries, Inc. | 11,230 | 2,907,672 | |
L3Harris Technologies, Inc. | 53,586 | 11,168,394 | |
Lockheed Martin Corp. | 62,426 | 26,806,349 | |
Northrop Grumman Corp. | 40,074 | 17,903,460 | |
RTX Corp. | 406,518 | 37,041,920 | |
Textron, Inc. | 55,414 | 4,694,120 | |
The Boeing Co. (a) | 160,775 | 33,929,956 | |
TransDigm Group, Inc. | 15,638 | 17,087,330 | |
179,689,715 | |||
Air Freight & Logistics - 0.5% | |||
C.H. Robinson Worldwide, Inc. | 32,979 | 2,773,204 | |
Expeditors International of Washington, Inc. | 41,104 | 5,192,668 | |
FedEx Corp. | 65,394 | 15,778,918 | |
United Parcel Service, Inc. Class B | 204,477 | 29,015,286 | |
52,760,076 | |||
Building Products - 0.5% | |||
A.O. Smith Corp. | 34,726 | 2,695,085 | |
Allegion PLC | 24,819 | 3,074,826 | |
Builders FirstSource, Inc. (a) | 34,887 | 6,060,919 | |
Carrier Global Corp. | 237,212 | 12,977,869 | |
Johnson Controls International PLC | 192,338 | 10,134,289 | |
Masco Corp. | 63,470 | 4,270,896 | |
Trane Technologies PLC | 64,572 | 16,275,373 | |
55,489,257 | |||
Commercial Services & Supplies - 0.5% | |||
Cintas Corp. | 24,476 | 14,797,455 | |
Copart, Inc. | 247,028 | 11,867,225 | |
Republic Services, Inc. | 57,819 | 9,893,987 | |
Rollins, Inc. | 79,370 | 3,437,515 | |
Veralto Corp. | 61,975 | 4,752,863 | |
Waste Management, Inc. | 103,623 | 19,235,537 | |
63,984,582 | |||
Construction & Engineering - 0.1% | |||
Quanta Services, Inc. | 41,074 | 7,970,410 | |
Electrical Equipment - 0.6% | |||
AMETEK, Inc. | 65,251 | 10,573,925 | |
Eaton Corp. PLC | 112,889 | 27,779,725 | |
Emerson Electric Co. | 161,177 | 14,784,766 | |
Generac Holdings, Inc. (a) | 17,368 | 1,974,221 | |
Hubbell, Inc. Class B | 15,162 | 5,087,912 | |
Rockwell Automation, Inc. | 32,420 | 8,211,338 | |
68,411,887 | |||
Ground Transportation - 1.1% | |||
CSX Corp. | 558,685 | 19,945,055 | |
J.B. Hunt Transport Services, Inc. | 23,037 | 4,629,976 | |
Norfolk Southern Corp. | 63,932 | 15,039,364 | |
Old Dominion Freight Lines, Inc. | 25,296 | 9,891,242 | |
Uber Technologies, Inc. (a) | 581,790 | 37,973,433 | |
Union Pacific Corp. | 172,343 | 42,039,628 | |
129,518,698 | |||
Industrial Conglomerates - 0.8% | |||
3M Co. | 156,149 | 14,732,658 | |
General Electric Co. | 307,705 | 40,746,296 | |
Honeywell International, Inc. | 186,381 | 37,697,421 | |
93,176,375 | |||
Machinery - 1.7% | |||
Caterpillar, Inc. | 144,226 | 43,312,510 | |
Cummins, Inc. | 40,074 | 9,589,708 | |
Deere & Co. | 75,723 | 29,803,058 | |
Dover Corp. | 39,549 | 5,923,649 | |
Fortive Corp. | 99,356 | 7,767,652 | |
IDEX Corp. | 21,381 | 4,522,082 | |
Illinois Tool Works, Inc. | 77,410 | 20,196,269 | |
Ingersoll Rand, Inc. | 114,443 | 9,139,418 | |
Nordson Corp. | 15,313 | 3,854,588 | |
Otis Worldwide Corp. | 115,704 | 10,232,862 | |
PACCAR, Inc. | 147,882 | 14,845,874 | |
Parker Hannifin Corp. | 36,322 | 16,871,569 | |
Pentair PLC | 46,733 | 3,419,454 | |
Snap-On, Inc. | 14,922 | 4,326,335 | |
Stanley Black & Decker, Inc. | 43,344 | 4,043,995 | |
Westinghouse Air Brake Tech Co. | 50,651 | 6,664,152 | |
Xylem, Inc. | 68,157 | 7,663,573 | |
202,176,748 | |||
Passenger Airlines - 0.2% | |||
American Airlines Group, Inc. (a) | 184,767 | 2,629,234 | |
Delta Air Lines, Inc. | 181,918 | 7,120,271 | |
Southwest Airlines Co. | 168,532 | 5,037,421 | |
United Airlines Holdings, Inc. (a) | 92,725 | 3,836,961 | |
18,623,887 | |||
Professional Services - 0.7% | |||
Automatic Data Processing, Inc. | 116,283 | 28,580,036 | |
Broadridge Financial Solutions, Inc. | 33,261 | 6,791,896 | |
Dayforce, Inc. (a)(b) | 44,098 | 3,065,693 | |
Equifax, Inc. | 34,835 | 8,511,584 | |
Jacobs Solutions, Inc. | 35,599 | 4,797,677 | |
Leidos Holdings, Inc. | 38,875 | 4,294,521 | |
Paychex, Inc. | 90,892 | 11,064,283 | |
Paycom Software, Inc. | 13,866 | 2,637,868 | |
Robert Half, Inc. | 29,938 | 2,381,269 | |
Verisk Analytics, Inc. | 41,002 | 9,903,213 | |
82,028,040 | |||
Trading Companies & Distributors - 0.3% | |||
Fastenal Co. | 161,548 | 11,022,420 | |
United Rentals, Inc. | 19,163 | 11,984,540 | |
W.W. Grainger, Inc. | 12,489 | 11,185,648 | |
34,192,608 | |||
TOTAL INDUSTRIALS | 988,022,283 | ||
INFORMATION TECHNOLOGY - 29.4% | |||
Communications Equipment - 0.8% | |||
Arista Networks, Inc. (a) | 71,242 | 18,428,881 | |
Cisco Systems, Inc. | 1,145,155 | 57,463,878 | |
F5, Inc. (a) | 16,880 | 3,100,856 | |
Juniper Networks, Inc. | 90,149 | 3,331,907 | |
Motorola Solutions, Inc. | 46,922 | 14,991,579 | |
97,317,101 | |||
Electronic Equipment, Instruments & Components - 0.6% | |||
Amphenol Corp. Class A | 169,152 | 17,101,267 | |
CDW Corp. | 37,873 | 8,586,567 | |
Corning, Inc. | 217,086 | 7,053,124 | |
Jabil, Inc. | 36,172 | 4,531,990 | |
Keysight Technologies, Inc. (a) | 50,203 | 7,694,112 | |
TE Connectivity Ltd. | 87,862 | 12,493,098 | |
Teledyne Technologies, Inc. (a) | 13,340 | 5,582,390 | |
Trimble, Inc. (a) | 70,331 | 3,577,035 | |
Zebra Technologies Corp. Class A (a) | 14,520 | 3,478,266 | |
70,097,849 | |||
IT Services - 1.3% | |||
Accenture PLC Class A | 177,436 | 64,565,412 | |
Akamai Technologies, Inc. (a) | 42,643 | 5,254,897 | |
Cognizant Technology Solutions Corp. Class A | 141,758 | 10,932,377 | |
EPAM Systems, Inc. (a) | 16,313 | 4,536,808 | |
Gartner, Inc. (a) | 22,037 | 10,080,605 | |
IBM Corp. | 258,154 | 47,412,564 | |
VeriSign, Inc. (a) | 25,113 | 4,994,473 | |
147,777,136 | |||
Semiconductors & Semiconductor Equipment - 8.7% | |||
Advanced Micro Devices, Inc. (a) | 456,777 | 76,596,935 | |
Analog Devices, Inc. | 140,882 | 27,100,062 | |
Applied Materials, Inc. | 236,502 | 38,857,279 | |
Broadcom, Inc. | 124,096 | 146,433,280 | |
Enphase Energy, Inc. (a) | 38,605 | 4,019,939 | |
First Solar, Inc. (a) | 30,207 | 4,419,284 | |
Intel Corp. | 1,191,932 | 51,348,431 | |
KLA Corp. | 38,430 | 22,828,957 | |
Lam Research Corp. | 37,260 | 30,745,834 | |
Microchip Technology, Inc. | 152,962 | 13,029,303 | |
Micron Technology, Inc. | 310,432 | 26,619,544 | |
Monolithic Power Systems, Inc. | 13,546 | 8,164,445 | |
NVIDIA Corp. | 698,310 | 429,649,194 | |
NXP Semiconductors NV | 72,874 | 15,345,078 | |
ON Semiconductor Corp. (a) | 121,765 | 8,661,144 | |
Qorvo, Inc. (a) | 27,521 | 2,744,945 | |
Qualcomm, Inc. | 314,663 | 46,730,602 | |
Skyworks Solutions, Inc. | 45,063 | 4,707,281 | |
Teradyne, Inc. | 43,221 | 4,174,716 | |
Texas Instruments, Inc. | 256,764 | 41,113,052 | |
1,003,289,305 | |||
Software - 11.2% | |||
Adobe, Inc. (a) | 128,721 | 79,521,259 | |
ANSYS, Inc. (a) | 24,537 | 8,043,965 | |
Autodesk, Inc. (a) | 60,435 | 15,339,007 | |
Cadence Design Systems, Inc. (a) | 76,916 | 22,187,189 | |
Fair Isaac Corp. (a) | 6,987 | 8,376,225 | |
Fortinet, Inc. (a) | 180,194 | 11,620,711 | |
Gen Digital, Inc. | 159,404 | 3,742,806 | |
Intuit, Inc. | 79,234 | 50,022,801 | |
Microsoft Corp. | 2,101,222 | 835,403,846 | |
Oracle Corp. | 449,191 | 50,174,635 | |
Palo Alto Networks, Inc. (a) | 87,873 | 29,745,889 | |
PTC, Inc. (a) | 33,596 | 6,069,117 | |
Roper Technologies, Inc. | 30,200 | 16,217,400 | |
Salesforce, Inc. (a) | 275,083 | 77,323,080 | |
ServiceNow, Inc. (a) | 57,957 | 44,360,288 | |
Synopsys, Inc. (a) | 42,997 | 22,932,450 | |
Tyler Technologies, Inc. (a) | 11,896 | 5,029,034 | |
1,286,109,702 | |||
Technology Hardware, Storage & Peripherals - 6.8% | |||
Apple, Inc. | 4,133,197 | 762,161,527 | |
Hewlett Packard Enterprise Co. | 362,687 | 5,545,484 | |
HP, Inc. | 245,872 | 7,058,985 | |
NetApp, Inc. | 59,029 | 5,147,329 | |
Seagate Technology Holdings PLC | 55,000 | 4,712,400 | |
Western Digital Corp. (a) | 91,669 | 5,248,050 | |
789,873,775 | |||
TOTAL INFORMATION TECHNOLOGY | 3,394,464,868 | ||
MATERIALS - 2.3% | |||
Chemicals - 1.5% | |||
Air Products & Chemicals, Inc. | 62,805 | 16,059,867 | |
Albemarle Corp. (b) | 33,178 | 3,806,844 | |
Celanese Corp. Class A | 28,313 | 4,141,909 | |
CF Industries Holdings, Inc. | 54,015 | 4,078,673 | |
Corteva, Inc. | 199,238 | 9,061,344 | |
Dow, Inc. | 198,296 | 10,628,666 | |
DuPont de Nemours, Inc. | 121,580 | 7,513,644 | |
Eastman Chemical Co. | 33,520 | 2,800,596 | |
Ecolab, Inc. | 71,746 | 14,221,492 | |
FMC Corp. | 35,271 | 1,982,230 | |
International Flavors & Fragrances, Inc. | 72,172 | 5,822,837 | |
Linde PLC | 137,086 | 55,496,525 | |
LyondellBasell Industries NV Class A | 72,445 | 6,818,523 | |
PPG Industries, Inc. | 66,665 | 9,402,432 | |
Sherwin-Williams Co. | 66,577 | 20,264,707 | |
The Mosaic Co. | 92,402 | 2,837,665 | |
174,937,954 | |||
Construction Materials - 0.2% | |||
Martin Marietta Materials, Inc. | 17,473 | 8,883,623 | |
Vulcan Materials Co. | 37,565 | 8,490,066 | |
17,373,689 | |||
Containers & Packaging - 0.2% | |||
Amcor PLC | 408,622 | 3,853,305 | |
Avery Dennison Corp. | 22,767 | 4,540,878 | |
Ball Corp. | 89,141 | 4,942,868 | |
International Paper Co. | 97,825 | 3,505,070 | |
Packaging Corp. of America | 25,338 | 4,203,067 | |
WestRock Co. | 72,489 | 2,918,407 | |
23,963,595 | |||
Metals & Mining - 0.4% | |||
Freeport-McMoRan, Inc. | 405,409 | 16,090,683 | |
Newmont Corp. | 325,828 | 11,244,324 | |
Nucor Corp. | 69,503 | 12,992,196 | |
Steel Dynamics, Inc. | 43,003 | 5,190,032 | |
45,517,235 | |||
TOTAL MATERIALS | 261,792,473 | ||
REAL ESTATE - 2.4% | |||
Equity Real Estate Investment Trusts (REITs) - 2.2% | |||
Alexandria Real Estate Equities, Inc. | 44,216 | 5,345,714 | |
American Tower Corp. | 131,793 | 25,785,300 | |
AvalonBay Communities, Inc. | 40,150 | 7,187,252 | |
Boston Properties, Inc. | 40,820 | 2,714,530 | |
Camden Property Trust (SBI) | 30,186 | 2,832,654 | |
Crown Castle, Inc. | 122,699 | 13,282,167 | |
Digital Realty Trust, Inc. | 85,621 | 12,026,326 | |
Equinix, Inc. | 26,542 | 22,023,755 | |
Equity Residential (SBI) | 97,693 | 5,880,142 | |
Essex Property Trust, Inc. | 18,146 | 4,232,917 | |
Extra Space Storage, Inc. | 59,732 | 8,627,690 | |
Federal Realty Investment Trust (SBI) | 20,768 | 2,112,729 | |
Healthpeak Properties, Inc. | 154,667 | 2,861,340 | |
Host Hotels & Resorts, Inc. | 199,439 | 3,833,218 | |
Invitation Homes, Inc. | 162,630 | 5,355,406 | |
Iron Mountain, Inc. | 82,550 | 5,573,776 | |
Kimco Realty Corp. | 188,008 | 3,797,762 | |
Mid-America Apartment Communities, Inc. | 32,990 | 4,169,276 | |
Prologis, Inc. | 261,222 | 33,094,215 | |
Public Storage | 44,741 | 12,670,204 | |
Realty Income Corp. | 235,112 | 12,787,742 | |
Regency Centers Corp. | 46,444 | 2,910,645 | |
SBA Communications Corp. Class A | 30,501 | 6,827,954 | |
Simon Property Group, Inc. | 92,233 | 12,784,416 | |
UDR, Inc. | 85,554 | 3,081,655 | |
Ventas, Inc. | 113,760 | 5,277,326 | |
VICI Properties, Inc. | 292,479 | 8,809,467 | |
Welltower, Inc. | 156,475 | 13,536,652 | |
Weyerhaeuser Co. | 206,383 | 6,763,171 | |
256,185,401 | |||
Real Estate Management & Development - 0.2% | |||
CBRE Group, Inc. (a) | 86,170 | 7,437,333 | |
CoStar Group, Inc. (a) | 115,451 | 9,637,849 | |
17,075,182 | |||
TOTAL REAL ESTATE | 273,260,583 | ||
UTILITIES - 2.2% | |||
Electric Utilities - 1.5% | |||
Alliant Energy Corp. | 72,143 | 3,510,478 | |
American Electric Power Co., Inc. | 148,674 | 11,617,386 | |
Constellation Energy Corp. | 90,295 | 11,015,990 | |
Duke Energy Corp. | 217,893 | 20,880,686 | |
Edison International | 108,362 | 7,312,268 | |
Entergy Corp. | 59,787 | 5,964,351 | |
Evergy, Inc. | 64,946 | 3,297,308 | |
Eversource Energy | 98,760 | 5,354,767 | |
Exelon Corp. | 281,426 | 9,796,439 | |
FirstEnergy Corp. | 146,004 | 5,355,427 | |
NextEra Energy, Inc. | 580,052 | 34,008,449 | |
NRG Energy, Inc. | 63,827 | 3,385,384 | |
PG&E Corp. | 603,178 | 10,175,613 | |
Pinnacle West Capital Corp. | 32,059 | 2,208,865 | |
PPL Corp. | 208,397 | 5,460,001 | |
Southern Co. | 308,336 | 21,435,519 | |
Xcel Energy, Inc. | 156,007 | 9,340,139 | |
170,119,070 | |||
Gas Utilities - 0.0% | |||
Atmos Energy Corp. | 41,982 | 4,783,429 | |
Independent Power and Renewable Electricity Producers - 0.0% | |||
The AES Corp. | 189,315 | 3,157,774 | |
Multi-Utilities - 0.6% | |||
Ameren Corp. | 74,339 | 5,171,764 | |
CenterPoint Energy, Inc. | 178,457 | 4,986,089 | |
CMS Energy Corp. | 82,487 | 4,714,957 | |
Consolidated Edison, Inc. | 97,599 | 8,871,749 | |
Dominion Energy, Inc. | 236,576 | 10,816,255 | |
DTE Energy Co. | 58,289 | 6,144,826 | |
NiSource, Inc. | 116,834 | 3,034,179 | |
Public Service Enterprise Group, Inc. | 140,882 | 8,169,747 | |
Sempra | 177,921 | 12,732,027 | |
WEC Energy Group, Inc. | 89,179 | 7,202,096 | |
71,843,689 | |||
Water Utilities - 0.1% | |||
American Water Works Co., Inc. | 55,046 | 6,826,805 | |
TOTAL UTILITIES | 256,730,767 | ||
TOTAL COMMON STOCKS (Cost $5,327,323,462) | 11,501,451,244 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $797,528) | 800,000 | 797,545 | |
Money Market Funds - 0.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 48,511,696 | 48,521,399 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 9,466,802 | 9,467,749 | |
TOTAL MONEY MARKET FUNDS (Cost $57,989,148) | 57,989,148 | ||
TOTAL INVESTMENT IN SECURITIES - 100.2% (Cost $5,386,110,138) | 11,560,237,937 |
NET OTHER ASSETS (LIABILITIES) - (0.2)% | (25,632,565) |
NET ASSETS - 100.0% | 11,534,605,372 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 127 | Mar 2024 | 30,927,675 | 1,195,236 | 1,195,236 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $797,545. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 5,681,263 | 1,345,712,144 | 1,302,872,008 | 816,722 | - | - | 48,521,399 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 11,223,374 | 118,307,680 | 120,063,305 | 64,904 | - | - | 9,467,749 | 0.0% |
Total | 16,904,637 | 1,464,019,824 | 1,422,935,313 | 881,626 | - | - | 57,989,148 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,018,227,996 | 1,018,227,996 | - | - |
Consumer Discretionary | 1,184,588,946 | 1,184,588,946 | - | - |
Consumer Staples | 706,302,041 | 706,302,041 | - | - |
Energy | 437,763,949 | 437,763,949 | - | - |
Financials | 1,511,325,650 | 1,511,325,650 | - | - |
Health Care | 1,468,971,688 | 1,468,971,688 | - | - |
Industrials | 988,022,283 | 988,022,283 | - | - |
Information Technology | 3,394,464,868 | 3,394,464,868 | - | - |
Materials | 261,792,473 | 261,792,473 | - | - |
Real Estate | 273,260,583 | 273,260,583 | - | - |
Utilities | 256,730,767 | 256,730,767 | - | - |
U.S. Government and Government Agency Obligations | 797,545 | - | 797,545 | - |
Money Market Funds | 57,989,148 | 57,989,148 | - | - |
Total Investments in Securities: | 11,560,237,937 | 11,559,440,392 | 797,545 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 1,195,236 | 1,195,236 | - | - |
Total Assets | 1,195,236 | 1,195,236 | - | - |
Total Derivative Instruments: | 1,195,236 | 1,195,236 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 1,195,236 | 0 |
Total Equity Risk | 1,195,236 | 0 |
Total Value of Derivatives | 1,195,236 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $9,113,517) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $5,328,120,990) | $ | 11,502,248,789 | ||
Fidelity Central Funds (cost $57,989,148) | 57,989,148 | |||
Total Investment in Securities (cost $5,386,110,138) | $ | 11,560,237,937 | ||
Segregated cash with brokers for derivative instruments | 658,448 | |||
Receivable for fund shares sold | 51,291,790 | |||
Dividends receivable | 7,898,554 | |||
Distributions receivable from Fidelity Central Funds | 194,962 | |||
Prepaid expenses | 7,760 | |||
Receivable from investment adviser for expense reductions | 46,466 | |||
Other receivables | 33,365 | |||
Total assets | 11,620,369,282 | |||
Liabilities | ||||
Payable for investments purchased | $ | 69,336,327 | ||
Payable for fund shares redeemed | 6,205,310 | |||
Accrued management fee | 138,667 | |||
Payable for daily variation margin on futures contracts | 458,147 | |||
Other payables and accrued expenses | 127,534 | |||
Collateral on securities loaned | 9,497,925 | |||
Total Liabilities | 85,763,910 | |||
Net Assets | $ | 11,534,605,372 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 5,424,958,179 | ||
Total accumulated earnings (loss) | 6,109,647,193 | |||
Net Assets | $ | 11,534,605,372 | ||
Net Asset Value, offering price and redemption price per share ($11,534,605,372 ÷ 575,007,328 shares) | $ | 20.06 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 83,576,507 | ||
Interest | 39,806 | |||
Income from Fidelity Central Funds (including $64,904 from security lending) | 881,626 | |||
Total Income | 84,497,939 | |||
Expenses | ||||
Management fee | $ | 781,216 | ||
Custodian fees and expenses | 77,589 | |||
Independent trustees' fees and expenses | 16,978 | |||
Registration fees | 44,876 | |||
Audit | 29,451 | |||
Legal | 14,132 | |||
Interest | 132,617 | |||
Miscellaneous | 22,632 | |||
Total expenses before reductions | 1,119,491 | |||
Expense reductions | (183,895) | |||
Total expenses after reductions | 935,596 | |||
Net Investment income (loss) | 83,562,343 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 15,999,850 | |||
Futures contracts | 2,006,552 | |||
Total net realized gain (loss) | 18,006,402 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 595,024,317 | |||
Futures contracts | 417,407 | |||
Total change in net unrealized appreciation (depreciation) | 595,441,724 | |||
Net gain (loss) | 613,448,126 | |||
Net increase (decrease) in net assets resulting from operations | $ | 697,010,469 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 83,562,343 | $ | 176,131,497 |
Net realized gain (loss) | 18,006,402 | 1,099,626,174 | ||
Change in net unrealized appreciation (depreciation) | 595,441,724 | (125,052,184) | ||
Net increase (decrease) in net assets resulting from operations | 697,010,469 | 1,150,705,487 | ||
Distributions to shareholders | (724,077,694) | (1,089,852,286) | ||
Share transactions | ||||
Proceeds from sales of shares | 4,408,606,075 | 10,289,960,268 | ||
Reinvestment of distributions | 711,398,422 | 1,074,867,889 | ||
Cost of shares redeemed | (3,728,574,466) | (13,382,025,198) | ||
Net increase (decrease) in net assets resulting from share transactions | 1,391,430,031 | (2,017,197,041) | ||
Total increase (decrease) in net assets | 1,364,362,806 | (1,956,343,840) | ||
Net Assets | ||||
Beginning of period | 10,170,242,566 | 12,126,586,406 | ||
End of period | $ | 11,534,605,372 | $ | 10,170,242,566 |
Other Information | ||||
Shares | ||||
Sold | 230,932,794 | 566,651,200 | ||
Issued in reinvestment of distributions | 38,357,677 | 59,907,420 | ||
Redeemed | (195,960,193) | (735,080,816) | ||
Net increase (decrease) | 73,330,278 | (108,522,196) | ||
Fidelity® SAI U.S. Large Cap Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 20.27 | $ | 19.87 | $ | 23.16 | $ | 17.68 | $ | 16.09 | $ | 15.21 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .15 | .30 | .30 | .31 | .32 | .30 | ||||||
Net realized and unrealized gain (loss) | 1.03 | 1.99 | (1.23) | 5.94 | 1.56 | .87 | ||||||
Total from investment operations | 1.18 | 2.29 | (.93) | 6.25 | 1.88 | 1.17 | ||||||
Distributions from net investment income | (.32) | (.33) | (.34) | (.35) | (.29) | (.28) | ||||||
Distributions from net realized gain | (1.07) | (1.56) | (2.02) | (.42) | - | (.01) | ||||||
Total distributions | (1.39) | (1.89) | (2.36) | (.77) | (.29) | (.29) | ||||||
Net asset value, end of period | $ | 20.06 | $ | 20.27 | $ | 19.87 | $ | 23.16 | $ | 17.68 | $ | 16.09 |
Total Return C,D | 6.44% | 12.98% | (4.68)% | 36.43% | 11.84% | 7.97% | ||||||
Ratios to Average Net Assets A,E,F | ||||||||||||
Expenses before reductions | .02% G,H | .03% | .02% | .02% | .02% | .09% | ||||||
Expenses net of fee waivers, if any | .02% G,H | .03% | .02% | .02% | .02% | .02% | ||||||
Expenses net of all reductions | .02% G,H | .03% | .02% | .02% | .02% | .02% | ||||||
Net investment income (loss) | 1.60% G,H | 1.66% | 1.43% | 1.52% | 1.97% | 2.00% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 11,534,605 | $ | 10,170,243 | $ | 12,126,586 | $ | 13,967,770 | $ | 15,406,444 | $ | 14,046,976 |
Portfolio turnover rate I | 50% H | 75% | 75% | 86% | 80% | 41% |
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 | $6,297,263,426 |
Gross unrealized depreciation | (210,107,972) |
Net unrealized appreciation (depreciation) | $6,087,155,454 |
Tax cost | $5,474,277,719 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI U.S. Large Cap Index Fund | 3,365,625,453 | 2,604,769,692 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI U.S. Large Cap Index Fund | Borrower | $ 31,755,444 | 5.57% | $132,617 |
Amount | |
Fidelity SAI U.S. Large Cap Index Fund | $8,183 |
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 SAI U.S. Large Cap Index Fund | $5,727 | $- | $- |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity SAI U.S. Large Cap Index Fund | 10% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI U.S. Large Cap Index Fund | .02% | |||||||||
Actual | $ 1,000 | $ 1,064.40 | $ .10 | |||||||
Hypothetical-B | $ 1,000 | $ 1,025.04 | $ .10 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
PulteGroup, Inc. | 0.7 | |
Builders FirstSource, Inc. | 0.6 | |
PTC, Inc. | 0.6 | |
Deckers Outdoor Corp. | 0.6 | |
Cboe Global Markets, Inc. | 0.6 | |
Vertiv Holdings Co. | 0.6 | |
FactSet Research Systems, Inc. | 0.5 | |
Booz Allen Hamilton Holding Corp. Class A | 0.5 | |
Hubbell, Inc. Class B | 0.5 | |
Entegris, Inc. | 0.5 | |
5.7 | ||
Market Sectors (% of Fund's net assets) | ||
Industrials | 22.0 | |
Financials | 16.4 | |
Consumer Discretionary | 14.0 | |
Information Technology | 12.3 | |
Health Care | 9.7 | |
Real Estate | 7.6 | |
Materials | 6.2 | |
Energy | 3.2 | |
Consumer Staples | 3.0 | |
Communication Services | 2.8 | |
Utilities | 2.5 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 2.8% | |||
Diversified Telecommunication Services - 0.3% | |||
Frontier Communications Parent, Inc. (a)(b) | 115,350 | 2,841,071 | |
Iridium Communications, Inc. | 57,788 | 2,095,393 | |
4,936,464 | |||
Entertainment - 0.7% | |||
AMC Entertainment Holdings, Inc. Class A (b) | 93,473 | 378,566 | |
Liberty Media Corp. Liberty Live: | |||
Class C | 21,986 | 819,418 | |
Series A | 9,241 | 340,346 | |
Madison Square Garden Sports Corp. (a) | 8,758 | 1,621,106 | |
Playtika Holding Corp. (a) | 10,998 | 79,406 | |
Roku, Inc. Class A (a) | 58,072 | 5,113,820 | |
TKO Group Holdings, Inc. | 28,605 | 2,393,952 | |
10,746,614 | |||
Interactive Media & Services - 0.3% | |||
IAC, Inc. (a) | 34,908 | 1,752,731 | |
TripAdvisor, Inc. (a) | 50,656 | 1,094,170 | |
Zoominfo Technologies, Inc. (a) | 141,786 | 2,274,247 | |
5,121,148 | |||
Media - 1.5% | |||
Cable One, Inc. | 2,623 | 1,439,843 | |
Interpublic Group of Companies, Inc. | 181,695 | 5,994,118 | |
Liberty Media Corp. Liberty SiriusXM | 72,306 | 2,195,210 | |
Liberty Media Corp. Liberty SiriusXM Class A | 35,038 | 1,064,805 | |
News Corp.: | |||
Class A | 179,325 | 4,418,568 | |
Class B | 54,946 | 1,404,969 | |
Nexstar Media Group, Inc. Class A | 15,730 | 2,795,378 | |
The New York Times Co. Class A | 76,090 | 3,694,930 | |
23,007,821 | |||
TOTAL COMMUNICATION SERVICES | 43,812,047 | ||
CONSUMER DISCRETIONARY - 14.0% | |||
Automobile Components - 0.8% | |||
BorgWarner, Inc. | 109,921 | 3,726,322 | |
Gentex Corp. | 110,419 | 3,658,181 | |
Lear Corp. | 27,309 | 3,629,366 | |
Phinia, Inc. | 21,984 | 664,796 | |
QuantumScape Corp. Class A (a)(b) | 159,381 | 1,085,385 | |
12,764,050 | |||
Automobiles - 0.3% | |||
Harley-Davidson, Inc. | 60,611 | 1,966,827 | |
Thor Industries, Inc. (b) | 24,137 | 2,727,964 | |
4,694,791 | |||
Broadline Retail - 0.4% | |||
Kohl's Corp. (b) | 52,068 | 1,341,272 | |
Macy's, Inc. (b) | 127,478 | 2,331,573 | |
Nordstrom, Inc. (b) | 53,762 | 975,780 | |
Ollie's Bargain Outlet Holdings, Inc. (a) | 29,038 | 2,088,703 | |
6,737,328 | |||
Distributors - 0.4% | |||
Pool Corp. | 17,905 | 6,647,231 | |
Diversified Consumer Services - 0.9% | |||
ADT, Inc. | 99,009 | 646,529 | |
Bright Horizons Family Solutions, Inc. (a)(b) | 27,057 | 2,658,350 | |
Grand Canyon Education, Inc. (a) | 14,015 | 1,830,219 | |
H&R Block, Inc. | 68,685 | 3,217,205 | |
Mister Car Wash, Inc. (a)(b) | 35,846 | 297,522 | |
Service Corp. International | 69,198 | 4,644,570 | |
13,294,395 | |||
Hotels, Restaurants & Leisure - 2.9% | |||
Aramark | 110,347 | 3,208,891 | |
Boyd Gaming Corp. | 33,981 | 2,157,454 | |
Cava Group, Inc. (b) | 7,620 | 356,616 | |
Choice Hotels International, Inc. | 14,064 | 1,703,432 | |
Churchill Downs, Inc. | 33,505 | 4,053,100 | |
Hyatt Hotels Corp. Class A | 20,749 | 2,663,549 | |
Marriott Vacations Worldwide Corp. | 16,931 | 1,420,342 | |
Norwegian Cruise Line Holdings Ltd. (a)(b) | 199,189 | 3,545,564 | |
Penn Entertainment, Inc. (a) | 70,497 | 1,589,707 | |
Planet Fitness, Inc. (a) | 40,162 | 2,721,377 | |
Texas Roadhouse, Inc. Class A | 31,501 | 3,960,306 | |
Travel+Leisure Co. | 33,191 | 1,341,580 | |
Vail Resorts, Inc. | 17,801 | 3,951,822 | |
Wendy's Co. | 80,434 | 1,534,681 | |
Wingstop, Inc. | 14,111 | 3,966,743 | |
Wyndham Hotels & Resorts, Inc. | 38,270 | 2,982,381 | |
Wynn Resorts Ltd. | 48,948 | 4,622,160 | |
45,779,705 | |||
Household Durables - 2.1% | |||
Leggett & Platt, Inc. | 62,419 | 1,448,745 | |
Mohawk Industries, Inc. (a) | 24,918 | 2,597,702 | |
Newell Brands, Inc. | 179,227 | 1,491,169 | |
PulteGroup, Inc. | 100,978 | 10,558,250 | |
Tempur Sealy International, Inc. | 78,615 | 3,922,102 | |
Toll Brothers, Inc. | 50,499 | 5,017,076 | |
TopBuild Corp. (a) | 14,927 | 5,510,004 | |
Whirlpool Corp. | 25,211 | 2,761,109 | |
33,306,157 | |||
Leisure Products - 0.9% | |||
Brunswick Corp. | 32,739 | 2,641,383 | |
Hasbro, Inc. | 61,572 | 3,013,949 | |
Mattel, Inc. (a) | 165,861 | 2,967,253 | |
Peloton Interactive, Inc. Class A (a)(b) | 158,198 | 879,581 | |
Polaris, Inc. | 25,400 | 2,284,984 | |
YETI Holdings, Inc. (a) | 40,816 | 1,794,680 | |
13,581,830 | |||
Specialty Retail - 3.0% | |||
Advance Auto Parts, Inc. | 27,975 | 1,870,129 | |
AutoNation, Inc. (a) | 13,380 | 1,868,651 | |
Bath & Body Works, Inc. | 107,966 | 4,605,830 | |
Dick's Sporting Goods, Inc. | 28,321 | 4,221,811 | |
Five Below, Inc. (a) | 25,819 | 4,633,478 | |
Floor & Decor Holdings, Inc. Class A (a)(b) | 49,041 | 4,931,563 | |
GameStop Corp. Class A (a)(b) | 126,195 | 1,795,755 | |
Gap, Inc. | 91,568 | 1,711,406 | |
Lithia Motors, Inc. Class A (sub. vtg.) | 12,751 | 3,759,632 | |
Murphy U.S.A., Inc. | 9,170 | 3,232,608 | |
Penske Automotive Group, Inc. | 9,215 | 1,367,230 | |
Petco Health & Wellness Co., Inc. (a)(b) | 38,866 | 92,890 | |
RH (a) | 7,326 | 1,856,994 | |
Valvoline, Inc. (a) | 65,214 | 2,379,659 | |
Victoria's Secret & Co. (a) | 36,290 | 945,355 | |
Wayfair LLC Class A (a)(b) | 38,757 | 1,947,539 | |
Williams-Sonoma, Inc. | 30,035 | 5,808,469 | |
47,028,999 | |||
Textiles, Apparel & Luxury Goods - 2.3% | |||
Birkenstock Holding PLC (b) | 14,016 | 650,202 | |
Capri Holdings Ltd. (a) | 53,256 | 2,595,697 | |
Carter's, Inc. | 16,936 | 1,281,039 | |
Columbia Sportswear Co. (b) | 16,634 | 1,318,411 | |
Crocs, Inc. (a) | 28,666 | 2,909,026 | |
Deckers Outdoor Corp. (a) | 12,351 | 9,309,319 | |
PVH Corp. | 28,310 | 3,404,561 | |
Ralph Lauren Corp. | 18,816 | 2,703,295 | |
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 62,754 | 3,918,360 | |
Tapestry, Inc. | 107,936 | 4,186,837 | |
Under Armour, Inc.: | |||
Class A (sub. vtg.) (a) | 88,721 | 676,054 | |
Class C (non-vtg.) (a) | 95,334 | 705,472 | |
VF Corp. | 164,720 | 2,711,291 | |
36,369,564 | |||
TOTAL CONSUMER DISCRETIONARY | 220,204,050 | ||
CONSUMER STAPLES - 3.0% | |||
Beverages - 0.3% | |||
Boston Beer Co., Inc. Class A (a) | 4,428 | 1,546,568 | |
Celsius Holdings, Inc. (a) | 67,691 | 3,377,781 | |
4,924,349 | |||
Consumer Staples Distribution & Retail - 1.6% | |||
Albertsons Companies, Inc. | 196,293 | 4,165,337 | |
BJ's Wholesale Club Holdings, Inc. (a) | 62,679 | 4,032,767 | |
Casey's General Stores, Inc. | 17,549 | 4,762,097 | |
Grocery Outlet Holding Corp. (a) | 44,718 | 1,108,112 | |
Maplebear, Inc. (NASDAQ) (b) | 9,843 | 240,858 | |
Performance Food Group Co. (a) | 72,201 | 5,247,569 | |
U.S. Foods Holding Corp. (a) | 106,775 | 4,912,718 | |
24,469,458 | |||
Food Products - 0.9% | |||
Darling Ingredients, Inc. (a) | 74,674 | 3,233,384 | |
Flowers Foods, Inc. | 88,536 | 2,018,621 | |
Freshpet, Inc. (a)(b) | 20,397 | 1,756,182 | |
Ingredion, Inc. | 31,077 | 3,342,953 | |
Pilgrim's Pride Corp. (a) | 19,348 | 525,685 | |
Post Holdings, Inc. (a) | 24,209 | 2,248,290 | |
Seaboard Corp. | 101 | 363,903 | |
13,489,018 | |||
Household Products - 0.1% | |||
Reynolds Consumer Products, Inc. | 25,587 | 695,199 | |
Spectrum Brands Holdings, Inc. | 16,457 | 1,293,849 | |
1,989,048 | |||
Personal Care Products - 0.1% | |||
Coty, Inc. Class A (a) | 177,384 | 2,142,799 | |
Olaplex Holdings, Inc. (a) | 61,714 | 138,857 | |
2,281,656 | |||
TOTAL CONSUMER STAPLES | 47,153,529 | ||
ENERGY - 3.2% | |||
Energy Equipment & Services - 0.5% | |||
NOV, Inc. | 184,842 | 3,606,267 | |
TechnipFMC PLC | 203,986 | 3,945,089 | |
7,551,356 | |||
Oil, Gas & Consumable Fuels - 2.7% | |||
Antero Midstream GP LP | 159,742 | 1,955,242 | |
Antero Resources Corp. (a) | 133,244 | 2,976,671 | |
APA Corp. | 144,447 | 4,525,525 | |
Chesapeake Energy Corp. | 59,016 | 4,550,724 | |
DT Midstream, Inc. | 45,717 | 2,454,546 | |
EQT Corp. | 169,907 | 6,014,708 | |
HF Sinclair Corp. | 68,198 | 3,852,505 | |
New Fortress Energy, Inc. (b) | 30,514 | 1,013,980 | |
Ovintiv, Inc. | 120,966 | 5,131,378 | |
Range Resources Corp. | 110,303 | 3,203,199 | |
Southwestern Energy Co. (a) | 516,889 | 3,333,934 | |
Texas Pacific Land Corp. | 2,906 | 4,246,625 | |
43,259,037 | |||
TOTAL ENERGY | 50,810,393 | ||
FINANCIALS - 16.4% | |||
Banks - 3.9% | |||
Bank OZK | 50,183 | 2,263,755 | |
BOK Financial Corp. | 13,348 | 1,119,096 | |
Columbia Banking Systems, Inc. | 97,953 | 1,974,732 | |
Comerica, Inc. | 61,997 | 3,259,802 | |
Commerce Bancshares, Inc. | 56,534 | 2,946,552 | |
Cullen/Frost Bankers, Inc. | 27,888 | 2,959,475 | |
East West Bancorp, Inc. | 66,172 | 4,817,983 | |
First Citizens Bancshares, Inc. | 5,114 | 7,722,140 | |
First Hawaiian, Inc. | 59,918 | 1,299,621 | |
First Horizon National Corp. | 261,926 | 3,729,826 | |
FNB Corp., Pennsylvania | 168,440 | 2,220,039 | |
New York Community Bancorp, Inc. | 335,545 | 2,170,976 | |
Pinnacle Financial Partners, Inc. | 35,445 | 3,132,629 | |
Popular, Inc. | 33,152 | 2,832,838 | |
Prosperity Bancshares, Inc. | 41,034 | 2,622,483 | |
Synovus Financial Corp. | 68,128 | 2,565,700 | |
TFS Financial Corp. (b) | 23,633 | 314,792 | |
Webster Financial Corp. | 80,549 | 3,985,565 | |
Western Alliance Bancorp. | 50,936 | 3,257,867 | |
Wintrust Financial Corp. | 28,658 | 2,779,253 | |
Zions Bancorporation NA | 68,550 | 2,872,245 | |
60,847,369 | |||
Capital Markets - 4.0% | |||
Affiliated Managers Group, Inc. | 16,306 | 2,426,985 | |
Carlyle Group LP | 99,405 | 3,978,188 | |
Cboe Global Markets, Inc. | 49,572 | 9,113,812 | |
Evercore, Inc. Class A | 16,571 | 2,845,738 | |
FactSet Research Systems, Inc. | 18,088 | 8,608,441 | |
Houlihan Lokey | 23,838 | 2,855,316 | |
Invesco Ltd. | 171,127 | 2,708,940 | |
Janus Henderson Group PLC | 63,068 | 1,813,836 | |
Jefferies Financial Group, Inc. | 85,345 | 3,478,662 | |
Lazard, Inc. Class A | 51,561 | 2,009,848 | |
MarketAxess Holdings, Inc. | 17,457 | 3,936,728 | |
Morningstar, Inc. | 12,111 | 3,382,602 | |
Robinhood Markets, Inc. (a) | 316,786 | 3,402,282 | |
SEI Investments Co. | 47,321 | 2,992,580 | |
Stifel Financial Corp. | 46,748 | 3,410,267 | |
TPG, Inc. | 30,232 | 1,258,558 | |
Virtu Financial, Inc. Class A | 41,488 | 696,584 | |
XP, Inc. Class A | 152,175 | 3,740,462 | |
62,659,829 | |||
Consumer Finance - 0.9% | |||
Ally Financial, Inc. | 127,500 | 4,676,700 | |
Credit Acceptance Corp. (a)(b) | 2,953 | 1,597,780 | |
OneMain Holdings, Inc. | 52,849 | 2,515,612 | |
SLM Corp. | 105,962 | 2,106,525 | |
SoFi Technologies, Inc. (a)(b) | 439,662 | 3,442,553 | |
14,339,170 | |||
Financial Services - 2.4% | |||
Affirm Holdings, Inc. (a)(b) | 106,088 | 4,297,625 | |
Corebridge Financial, Inc. | 107,774 | 2,604,898 | |
Equitable Holdings, Inc. | 162,961 | 5,327,195 | |
Euronet Worldwide, Inc. (a) | 22,282 | 2,220,401 | |
Jack Henry & Associates, Inc. | 34,274 | 5,683,657 | |
MGIC Investment Corp. | 129,743 | 2,574,101 | |
NCR Atleos Corp. | 30,397 | 680,589 | |
Shift4 Payments, Inc. (a) | 25,259 | 1,813,849 | |
The Western Union Co. | 171,565 | 2,156,572 | |
Toast, Inc. (a)(b) | 166,935 | 2,966,435 | |
UWM Holdings Corp. Class A | 43,841 | 293,735 | |
Voya Financial, Inc. | 46,158 | 3,340,454 | |
WEX, Inc. (a) | 20,146 | 4,117,641 | |
38,077,152 | |||
Insurance - 4.4% | |||
American Financial Group, Inc. | 34,281 | 4,127,432 | |
Assurant, Inc. | 24,919 | 4,185,146 | |
Assured Guaranty Ltd. | 26,456 | 2,146,375 | |
Axis Capital Holdings Ltd. | 36,621 | 2,179,682 | |
Brighthouse Financial, Inc. (a) | 30,558 | 1,581,988 | |
Everest Re Group Ltd. | 20,193 | 7,773,699 | |
First American Financial Corp. | 47,215 | 2,849,425 | |
Globe Life, Inc. | 41,399 | 5,084,625 | |
Hanover Insurance Group, Inc. | 16,721 | 2,207,339 | |
Kemper Corp. | 28,358 | 1,701,480 | |
Kinsale Capital Group, Inc. | 10,284 | 4,088,610 | |
Lincoln National Corp. | 79,623 | 2,185,651 | |
Old Republic International Corp. | 123,050 | 3,450,322 | |
Primerica, Inc. | 16,746 | 3,921,243 | |
Reinsurance Group of America, Inc. | 31,330 | 5,447,974 | |
RenaissanceRe Holdings Ltd. | 23,663 | 5,414,804 | |
RLI Corp. | 18,948 | 2,583,939 | |
Ryan Specialty Group Holdings, Inc. (a) | 44,682 | 1,935,624 | |
Unum Group | 92,595 | 4,476,042 | |
White Mountains Insurance Group Ltd. | 1,167 | 1,839,157 | |
69,180,557 | |||
Mortgage Real Estate Investment Trusts - 0.8% | |||
AGNC Investment Corp. | 304,455 | 2,886,233 | |
Annaly Capital Management, Inc. (b) | 232,649 | 4,464,534 | |
Rithm Capital Corp. | 226,991 | 2,428,804 | |
Starwood Property Trust, Inc. (b) | 138,834 | 2,822,495 | |
12,602,066 | |||
TOTAL FINANCIALS | 257,706,143 | ||
HEALTH CARE - 9.7% | |||
Biotechnology - 3.0% | |||
Apellis Pharmaceuticals, Inc. (a) | 47,618 | 3,013,743 | |
Exact Sciences Corp. (a) | 84,146 | 5,503,148 | |
Exelixis, Inc. (a) | 148,140 | 3,223,526 | |
Ionis Pharmaceuticals, Inc. (a)(b) | 67,091 | 3,447,806 | |
Karuna Therapeutics, Inc. (a) | 16,755 | 5,251,352 | |
Natera, Inc. (a) | 50,612 | 3,337,355 | |
Neurocrine Biosciences, Inc. (a) | 45,542 | 6,365,405 | |
Repligen Corp. (a)(b) | 26,162 | 4,955,083 | |
Roivant Sciences Ltd. (a) | 167,678 | 1,676,780 | |
Sarepta Therapeutics, Inc. (a) | 42,149 | 5,015,310 | |
Ultragenyx Pharmaceutical, Inc. (a) | 37,027 | 1,633,261 | |
United Therapeutics Corp. (a) | 21,272 | 4,568,800 | |
47,991,569 | |||
Health Care Equipment & Supplies - 1.8% | |||
Dentsply Sirona, Inc. | 99,611 | 3,461,482 | |
Enovis Corp. (a) | 24,706 | 1,450,242 | |
Envista Holdings Corp. (a) | 77,141 | 1,812,814 | |
Globus Medical, Inc. (a) | 55,838 | 2,947,688 | |
ICU Medical, Inc. (a) | 9,526 | 871,915 | |
Inspire Medical Systems, Inc. (a) | 13,547 | 2,856,656 | |
Integra LifeSciences Holdings Corp. (a) | 32,123 | 1,289,738 | |
Masimo Corp. (a) | 20,337 | 2,622,253 | |
Novocure Ltd. (a) | 49,440 | 688,205 | |
Penumbra, Inc. (a) | 17,093 | 4,310,684 | |
QuidelOrtho Corp. (a) | 25,171 | 1,724,465 | |
Shockwave Medical, Inc. (a) | 17,086 | 3,865,708 | |
Tandem Diabetes Care, Inc. (a) | 30,355 | 692,094 | |
28,593,944 | |||
Health Care Providers & Services - 2.0% | |||
Acadia Healthcare Co., Inc. (a) | 42,259 | 3,471,154 | |
agilon health, Inc. (a)(b) | 136,905 | 806,370 | |
Amedisys, Inc. (a) | 15,094 | 1,422,911 | |
Chemed Corp. | 6,915 | 4,099,143 | |
DaVita, Inc. (a) | 25,445 | 2,752,131 | |
Encompass Health Corp. | 46,522 | 3,304,923 | |
Henry Schein, Inc. (a) | 61,418 | 4,596,523 | |
Premier, Inc. | 55,869 | 1,207,888 | |
R1 RCM, Inc. (a) | 72,030 | 737,587 | |
Tenet Healthcare Corp. (a) | 47,561 | 3,935,197 | |
Universal Health Services, Inc. Class B | 28,258 | 4,487,653 | |
30,821,480 | |||
Health Care Technology - 0.2% | |||
Certara, Inc. (a) | 56,262 | 909,194 | |
Doximity, Inc. (a)(b) | 56,444 | 1,521,166 | |
Teladoc Health, Inc. (a)(b) | 77,690 | 1,509,517 | |
3,939,877 | |||
Life Sciences Tools & Services - 1.7% | |||
10X Genomics, Inc. (a) | 43,255 | 1,802,436 | |
Azenta, Inc. (a) | 27,934 | 1,821,297 | |
Bio-Techne Corp. | 73,334 | 5,156,847 | |
Bruker Corp. | 50,034 | 3,577,931 | |
Charles River Laboratories International, Inc. (a) | 23,917 | 5,172,769 | |
Maravai LifeSciences Holdings, Inc. (a) | 51,851 | 300,736 | |
Medpace Holdings, Inc. (a) | 10,977 | 3,200,674 | |
QIAGEN NV | 105,363 | 4,600,149 | |
Sotera Health Co. (a)(b) | 46,519 | 684,760 | |
26,317,599 | |||
Pharmaceuticals - 1.0% | |||
Catalent, Inc. (a) | 84,750 | 4,376,490 | |
Elanco Animal Health, Inc. (a) | 230,899 | 3,403,451 | |
Jazz Pharmaceuticals PLC (a) | 28,764 | 3,529,918 | |
Organon & Co. | 120,365 | 2,004,077 | |
Perrigo Co. PLC | 63,563 | 2,039,101 | |
15,353,037 | |||
TOTAL HEALTH CARE | 153,017,506 | ||
INDUSTRIALS - 22.0% | |||
Aerospace & Defense - 2.4% | |||
Axon Enterprise, Inc. (a) | 33,176 | 8,262,815 | |
BWX Technologies, Inc. | 43,021 | 3,505,351 | |
Curtiss-Wright Corp. | 17,972 | 4,000,028 | |
Hexcel Corp. | 39,708 | 2,636,214 | |
Huntington Ingalls Industries, Inc. | 18,469 | 4,781,993 | |
Mercury Systems, Inc. (a) | 25,289 | 750,072 | |
Spirit AeroSystems Holdings, Inc. Class A (a) | 49,249 | 1,352,378 | |
Textron, Inc. | 92,236 | 7,813,312 | |
Woodward, Inc. | 28,192 | 3,884,012 | |
36,986,175 | |||
Air Freight & Logistics - 0.2% | |||
GXO Logistics, Inc. (a) | 55,135 | 2,998,241 | |
Building Products - 3.7% | |||
A.O. Smith Corp. | 57,034 | 4,426,409 | |
Advanced Drain Systems, Inc. | 32,124 | 4,189,612 | |
Allegion PLC | 41,353 | 5,123,223 | |
Armstrong World Industries, Inc. | 20,653 | 2,048,984 | |
Builders FirstSource, Inc. (a) | 57,959 | 10,069,217 | |
Carlisle Companies, Inc. | 22,807 | 7,167,328 | |
Fortune Brands Innovations, Inc. | 59,567 | 4,621,804 | |
Hayward Holdings, Inc. (a) | 62,545 | 783,063 | |
Lennox International, Inc. | 15,062 | 6,448,946 | |
Owens Corning | 41,734 | 6,323,953 | |
The AZEK Co., Inc. (a) | 62,145 | 2,396,311 | |
Trex Co., Inc. (a) | 51,172 | 4,169,495 | |
57,768,345 | |||
Commercial Services & Supplies - 0.9% | |||
Clean Harbors, Inc. (a) | 23,844 | 4,004,838 | |
Driven Brands Holdings, Inc. (a) | 29,308 | 384,228 | |
MSA Safety, Inc. | 17,361 | 2,865,086 | |
Stericycle, Inc. (a) | 43,384 | 2,082,432 | |
Tetra Tech, Inc. | 24,970 | 3,949,755 | |
Vestis Corp. | 55,172 | 1,180,681 | |
14,467,020 | |||
Construction & Engineering - 1.3% | |||
AECOM | 61,691 | 5,440,529 | |
EMCOR Group, Inc. | 21,859 | 4,986,256 | |
MasTec, Inc. (a) | 29,289 | 1,923,409 | |
MDU Resources Group, Inc. | 95,198 | 1,857,313 | |
Valmont Industries, Inc. | 9,774 | 2,206,090 | |
Willscot Mobile Mini Holdings (a) | 90,377 | 4,274,832 | |
20,688,429 | |||
Electrical Equipment - 2.5% | |||
Acuity Brands, Inc. | 14,710 | 3,503,334 | |
ChargePoint Holdings, Inc. Class A (a)(b) | 144,191 | 273,963 | |
Generac Holdings, Inc. (a) | 28,658 | 3,257,555 | |
Hubbell, Inc. Class B | 25,250 | 8,473,143 | |
nVent Electric PLC | 77,516 | 4,654,061 | |
Plug Power, Inc. (a)(b) | 247,732 | 1,102,407 | |
Regal Rexnord Corp. | 31,166 | 4,159,414 | |
Sensata Technologies, Inc. PLC | 71,073 | 2,570,710 | |
Sunrun, Inc. (a)(b) | 99,425 | 1,439,674 | |
Vertiv Holdings Co. | 161,757 | 9,111,772 | |
38,546,033 | |||
Ground Transportation - 1.8% | |||
Avis Budget Group, Inc. | 9,380 | 1,535,600 | |
Hertz Global Holdings, Inc. (a)(b) | 61,863 | 516,556 | |
Knight-Swift Transportation Holdings, Inc. Class A | 73,591 | 4,222,652 | |
Landstar System, Inc. | 16,848 | 3,230,099 | |
Lyft, Inc. (a) | 161,706 | 2,019,708 | |
Ryder System, Inc. | 20,608 | 2,340,451 | |
Saia, Inc. (a) | 12,513 | 5,638,108 | |
Schneider National, Inc. Class B | 25,400 | 622,808 | |
U-Haul Holding Co. (a)(b) | 3,679 | 243,771 | |
U-Haul Holding Co. (non-vtg.) | 47,215 | 3,015,622 | |
XPO, Inc. (a) | 53,672 | 4,585,736 | |
27,971,111 | |||
Machinery - 4.6% | |||
AGCO Corp. | 29,486 | 3,607,022 | |
Allison Transmission Holdings, Inc. | 42,061 | 2,546,373 | |
Crane Co. | 22,603 | 2,805,258 | |
Donaldson Co., Inc. | 57,050 | 3,684,860 | |
ESAB Corp. | 26,582 | 2,285,786 | |
Flowserve Corp. | 61,625 | 2,460,686 | |
Gates Industrial Corp. PLC (a) | 52,653 | 678,171 | |
Graco, Inc. | 78,746 | 6,717,034 | |
ITT, Inc. | 38,935 | 4,702,569 | |
Lincoln Electric Holdings, Inc. | 26,300 | 5,844,386 | |
Middleby Corp. (a) | 25,061 | 3,535,355 | |
Nordson Corp. | 26,953 | 6,784,609 | |
Oshkosh Corp. | 30,714 | 3,381,611 | |
Pentair PLC | 77,317 | 5,657,285 | |
RBC Bearings, Inc. (a) | 13,320 | 3,576,953 | |
Snap-On, Inc. | 24,529 | 7,111,693 | |
Timken Co. | 28,805 | 2,359,418 | |
Toro Co. | 49,048 | 4,535,959 | |
72,275,028 | |||
Marine Transportation - 0.1% | |||
Kirby Corp. (a) | 27,768 | 2,184,231 | |
Passenger Airlines - 0.4% | |||
Alaska Air Group, Inc. (a) | 59,064 | 2,116,263 | |
American Airlines Group, Inc. (a) | 306,093 | 4,355,703 | |
6,471,966 | |||
Professional Services - 2.8% | |||
Booz Allen Hamilton Holding Corp. Class A | 60,412 | 8,504,197 | |
CACI International, Inc. Class A (a) | 10,392 | 3,572,042 | |
Clarivate PLC (a)(b) | 221,750 | 1,982,445 | |
Concentrix Corp. | 20,685 | 1,838,276 | |
Dayforce, Inc. (a) | 69,507 | 4,832,127 | |
Dun & Bradstreet Holdings, Inc. | 128,344 | 1,487,507 | |
FTI Consulting, Inc. (a) | 15,679 | 3,004,253 | |
Genpact Ltd. | 83,395 | 2,993,881 | |
KBR, Inc. | 63,063 | 3,286,213 | |
Manpower, Inc. | 23,168 | 1,717,676 | |
Paycor HCM, Inc. (a)(b) | 30,311 | 588,943 | |
Paylocity Holding Corp. (a) | 19,790 | 3,134,934 | |
Robert Half, Inc. | 48,665 | 3,870,814 | |
Science Applications International Corp. | 24,825 | 3,169,160 | |
43,982,468 | |||
Trading Companies & Distributors - 1.3% | |||
Air Lease Corp. Class A | 48,741 | 2,037,861 | |
Core & Main, Inc. (a) | 76,944 | 3,178,557 | |
MSC Industrial Direct Co., Inc. Class A | 22,112 | 2,182,012 | |
SiteOne Landscape Supply, Inc. (a) | 20,941 | 3,236,432 | |
Watsco, Inc. (b) | 15,645 | 6,116,882 | |
WESCO International, Inc. | 20,848 | 3,617,545 | |
20,369,289 | |||
TOTAL INDUSTRIALS | 344,708,336 | ||
INFORMATION TECHNOLOGY - 12.3% | |||
Communications Equipment - 1.1% | |||
Ciena Corp. (a) | 69,891 | 3,704,223 | |
F5, Inc. (a) | 27,858 | 5,117,515 | |
Juniper Networks, Inc. | 149,992 | 5,543,704 | |
Lumentum Holdings, Inc. (a) | 31,485 | 1,729,786 | |
ViaSat, Inc. (a)(b) | 55,066 | 1,224,117 | |
17,319,345 | |||
Electronic Equipment, Instruments & Components - 1.8% | |||
Arrow Electronics, Inc. (a) | 26,100 | 2,901,015 | |
Avnet, Inc. | 42,811 | 1,939,338 | |
Cognex Corp. | 81,395 | 2,941,615 | |
Coherent Corp. (a) | 61,187 | 2,908,830 | |
Crane Nxt Co. | 22,664 | 1,320,858 | |
IPG Photonics Corp. (a) | 14,128 | 1,382,990 | |
Jabil, Inc. | 58,768 | 7,363,043 | |
Littelfuse, Inc. | 11,400 | 2,757,660 | |
TD SYNNEX Corp. | 27,375 | 2,736,953 | |
Vontier Corp. | 73,324 | 2,536,277 | |
28,788,579 | |||
IT Services - 0.9% | |||
Amdocs Ltd. | 55,218 | 5,062,386 | |
DXC Technology Co. (a) | 96,445 | 2,102,501 | |
Globant SA (a) | 19,426 | 4,580,845 | |
Kyndryl Holdings, Inc. (a) | 106,992 | 2,195,476 | |
13,941,208 | |||
Semiconductors & Semiconductor Equipment - 1.8% | |||
Allegro MicroSystems LLC (a)(b) | 35,321 | 916,227 | |
Cirrus Logic, Inc. (a) | 26,009 | 2,007,895 | |
Entegris, Inc. | 70,378 | 8,283,491 | |
Lattice Semiconductor Corp. (a) | 64,195 | 3,906,908 | |
MKS Instruments, Inc. | 31,272 | 3,328,904 | |
Qorvo, Inc. (a) | 46,132 | 4,601,206 | |
Universal Display Corp. | 22,012 | 3,736,977 | |
Wolfspeed, Inc. (a)(b) | 58,428 | 1,901,831 | |
28,683,439 | |||
Software - 6.3% | |||
Alteryx, Inc. Class A (a)(b) | 28,852 | 1,369,316 | |
AppLovin Corp. (a) | 98,984 | 4,071,212 | |
Aspen Technology, Inc. (a)(b) | 12,939 | 2,484,159 | |
Bentley Systems, Inc. Class B | 91,661 | 4,619,714 | |
Bill Holdings, Inc. (a) | 48,336 | 3,772,625 | |
CCC Intelligent Solutions Holdings, Inc. Class A (a) | 94,782 | 1,041,654 | |
Confluent, Inc. (a) | 87,202 | 1,949,837 | |
Dolby Laboratories, Inc. Class A | 27,875 | 2,318,643 | |
DoubleVerify Holdings, Inc. (a) | 64,785 | 2,592,048 | |
Dropbox, Inc. Class A (a) | 121,653 | 3,853,967 | |
Dynatrace, Inc. (a) | 113,312 | 6,458,784 | |
Elastic NV (a) | 37,375 | 4,375,118 | |
Five9, Inc. (a) | 33,500 | 2,541,310 | |
Gen Digital, Inc. | 261,073 | 6,129,994 | |
GitLab, Inc. (a) | 41,325 | 2,938,621 | |
Guidewire Software, Inc. (a) | 38,431 | 4,291,974 | |
HashiCorp, Inc. (a) | 45,819 | 1,001,603 | |
Informatica, Inc. (a) | 20,031 | 600,930 | |
Manhattan Associates, Inc. (a) | 29,041 | 7,044,185 | |
nCino, Inc. (a) | 32,865 | 1,034,590 | |
NCR Voyix Corp. (a) | 60,794 | 893,672 | |
Nutanix, Inc. Class A (a) | 114,500 | 6,434,900 | |
Pegasystems, Inc. | 19,752 | 962,712 | |
Procore Technologies, Inc. (a) | 37,497 | 2,676,911 | |
PTC, Inc. (a) | 53,996 | 9,754,377 | |
RingCentral, Inc. (a) | 40,196 | 1,362,242 | |
SentinelOne, Inc. (a) | 110,093 | 2,950,492 | |
Smartsheet, Inc. (a) | 60,275 | 2,710,567 | |
Teradata Corp. (a) | 46,769 | 2,159,792 | |
UiPath, Inc. Class A (a) | 179,297 | 4,120,245 | |
98,516,194 | |||
Technology Hardware, Storage & Peripherals - 0.4% | |||
Pure Storage, Inc. Class A (a) | 134,209 | 5,367,018 | |
TOTAL INFORMATION TECHNOLOGY | 192,615,783 | ||
MATERIALS - 6.2% | |||
Chemicals - 1.6% | |||
Ashland, Inc. | 22,342 | 2,091,658 | |
Axalta Coating Systems Ltd. (a) | 104,255 | 3,379,947 | |
Element Solutions, Inc. | 105,160 | 2,337,707 | |
Ginkgo Bioworks Holdings, Inc. Class A (a)(b) | 732,801 | 886,689 | |
Huntsman Corp. | 79,686 | 1,955,494 | |
NewMarket Corp. | 2,934 | 1,636,615 | |
Olin Corp. | 57,678 | 3,003,293 | |
RPM International, Inc. | 59,930 | 6,392,134 | |
The Chemours Co. LLC | 70,039 | 2,113,077 | |
The Scotts Miracle-Gro Co. Class A | 19,452 | 1,094,370 | |
24,890,984 | |||
Construction Materials - 0.2% | |||
Eagle Materials, Inc. | 16,276 | 3,682,933 | |
Containers & Packaging - 2.7% | |||
Aptargroup, Inc. | 30,823 | 4,003,291 | |
Ardagh Group SA | 5,444 | 31,058 | |
Ardagh Metal Packaging SA | 67,385 | 248,651 | |
Avery Dennison Corp. | 38,055 | 7,590,070 | |
Berry Global Group, Inc. | 56,185 | 3,677,870 | |
Crown Holdings, Inc. | 49,991 | 4,424,204 | |
Graphic Packaging Holding Co. | 143,476 | 3,660,073 | |
Packaging Corp. of America | 41,699 | 6,917,030 | |
Sealed Air Corp. | 67,743 | 2,340,521 | |
Silgan Holdings, Inc. | 39,359 | 1,808,152 | |
Sonoco Products Co. | 46,064 | 2,621,042 | |
WestRock Co. | 119,711 | 4,819,565 | |
42,141,527 | |||
Metals & Mining - 1.6% | |||
Alcoa Corp. | 83,766 | 2,492,039 | |
Cleveland-Cliffs, Inc. (a) | 234,723 | 4,706,196 | |
MP Materials Corp. (a)(b) | 49,001 | 774,706 | |
Reliance Steel & Aluminum Co. | 27,205 | 7,764,851 | |
Royal Gold, Inc. | 30,895 | 3,534,079 | |
SSR Mining, Inc. | 95,829 | 903,667 | |
United States Steel Corp. | 104,353 | 4,906,678 | |
25,082,216 | |||
Paper & Forest Products - 0.1% | |||
Louisiana-Pacific Corp. | 30,275 | 2,014,801 | |
TOTAL MATERIALS | 97,812,461 | ||
REAL ESTATE - 7.6% | |||
Equity Real Estate Investment Trusts (REITs) - 6.9% | |||
Agree Realty Corp. | 46,701 | 2,783,847 | |
American Homes 4 Rent Class A | 156,926 | 5,500,256 | |
Americold Realty Trust | 127,245 | 3,499,238 | |
Apartment Income (REIT) Corp. | 70,104 | 2,291,700 | |
Boston Properties, Inc. | 73,916 | 4,915,414 | |
Brixmor Property Group, Inc. | 141,046 | 3,165,072 | |
Camden Property Trust (SBI) | 48,898 | 4,588,588 | |
Cousins Properties, Inc. | 71,293 | 1,633,323 | |
CubeSmart (b) | 105,400 | 4,555,388 | |
EastGroup Properties, Inc. | 21,557 | 3,824,859 | |
EPR Properties | 34,967 | 1,547,989 | |
Equity Lifestyle Properties, Inc. | 83,725 | 5,667,345 | |
Federal Realty Investment Trust (SBI) | 38,096 | 3,875,506 | |
First Industrial Realty Trust, Inc. | 62,192 | 3,204,132 | |
Gaming & Leisure Properties | 120,559 | 5,503,518 | |
Healthcare Trust of America, Inc. | 178,977 | 2,883,319 | |
Highwoods Properties, Inc. (SBI) | 49,018 | 1,125,943 | |
Host Hotels & Resorts, Inc. | 333,208 | 6,404,258 | |
Kilroy Realty Corp. | 54,957 | 1,965,262 | |
Kimco Realty Corp. | 309,216 | 6,246,163 | |
Lamar Advertising Co. Class A | 40,947 | 4,286,332 | |
Medical Properties Trust, Inc. (b) | 279,674 | 866,989 | |
National Storage Affiliates Trust | 38,006 | 1,419,524 | |
NNN (REIT), Inc. | 85,485 | 3,448,465 | |
Omega Healthcare Investors, Inc. | 115,315 | 3,344,135 | |
Park Hotels & Resorts, Inc. | 100,611 | 1,517,214 | |
Rayonier, Inc. | 69,161 | 2,095,578 | |
Regency Centers Corp. | 85,148 | 5,336,225 | |
Rexford Industrial Realty, Inc. | 99,186 | 5,216,192 | |
Stag Industrial, Inc. | 85,640 | 3,163,542 | |
Vornado Realty Trust | 83,280 | 2,264,383 | |
108,139,699 | |||
Real Estate Management & Development - 0.7% | |||
Howard Hughes Holdings, Inc. | 15,860 | 1,270,069 | |
Jones Lang LaSalle, Inc. (a) | 22,329 | 3,953,573 | |
Zillow Group, Inc.: | |||
Class A (a) | 26,086 | 1,437,078 | |
Class C (a) | 72,750 | 4,135,110 | |
10,795,830 | |||
TOTAL REAL ESTATE | 118,935,529 | ||
UTILITIES - 2.5% | |||
Electric Utilities - 1.0% | |||
Hawaiian Electric Industries, Inc. | 51,629 | 669,628 | |
IDACORP, Inc. | 23,791 | 2,202,571 | |
NRG Energy, Inc. | 107,282 | 5,690,237 | |
OGE Energy Corp. | 94,203 | 3,131,308 | |
Pinnacle West Capital Corp. | 53,357 | 3,676,297 | |
15,370,041 | |||
Gas Utilities - 0.3% | |||
National Fuel Gas Co. | 41,853 | 1,973,787 | |
UGI Corp. | 98,442 | 2,179,506 | |
4,153,293 | |||
Independent Power and Renewable Electricity Producers - 0.6% | |||
Brookfield Renewable Corp. (b) | 62,774 | 1,752,650 | |
Clearway Energy, Inc.: | |||
Class A | 16,408 | 368,524 | |
Class C | 38,519 | 933,701 | |
Vistra Corp. | 171,211 | 7,024,787 | |
10,079,662 | |||
Multi-Utilities - 0.3% | |||
NiSource, Inc. | 194,844 | 5,060,099 | |
Water Utilities - 0.3% | |||
Essential Utilities, Inc. | 114,405 | 4,102,563 | |
TOTAL UTILITIES | 38,765,658 | ||
TOTAL COMMON STOCKS (Cost $1,341,444,675) | 1,565,541,435 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $99,691) | 100,000 | 99,693 | |
Money Market Funds - 4.5% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 4,724,579 | 4,725,524 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 66,154,300 | 66,160,916 | |
TOTAL MONEY MARKET FUNDS (Cost $70,886,440) | 70,886,440 | ||
TOTAL INVESTMENT IN SECURITIES - 104.2% (Cost $1,412,430,806) | 1,636,527,568 |
NET OTHER ASSETS (LIABILITIES) - (4.2)% | (65,765,789) |
NET ASSETS - 100.0% | 1,570,761,779 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P MidCap 400 Index Contracts (United States) | 19 | Mar 2024 | 5,212,270 | 106,701 | 106,701 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $99,693. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 1,445,348 | 61,844,949 | 58,564,773 | 93,609 | - | - | 4,725,524 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 92,897,377 | 156,612,001 | 183,348,462 | 262,197 | - | - | 66,160,916 | 0.3% |
Total | 94,342,725 | 218,456,950 | 241,913,235 | 355,806 | - | - | 70,886,440 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 43,812,047 | 43,812,047 | - | - |
Consumer Discretionary | 220,204,050 | 220,204,050 | - | - |
Consumer Staples | 47,153,529 | 47,153,529 | - | - |
Energy | 50,810,393 | 50,810,393 | - | - |
Financials | 257,706,143 | 257,706,143 | - | - |
Health Care | 153,017,506 | 153,017,506 | - | - |
Industrials | 344,708,336 | 344,708,336 | - | - |
Information Technology | 192,615,783 | 192,615,783 | - | - |
Materials | 97,812,461 | 97,812,461 | - | - |
Real Estate | 118,935,529 | 118,935,529 | - | - |
Utilities | 38,765,658 | 38,765,658 | - | - |
U.S. Government and Government Agency Obligations | 99,693 | - | 99,693 | - |
Money Market Funds | 70,886,440 | 70,886,440 | - | - |
Total Investments in Securities: | 1,636,527,568 | 1,636,427,875 | 99,693 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 106,701 | 106,701 | - | - |
Total Assets | 106,701 | 106,701 | - | - |
Total Derivative Instruments: | 106,701 | 106,701 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 106,701 | 0 |
Total Equity Risk | 106,701 | 0 |
Total Value of Derivatives | 106,701 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $62,842,812) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $1,341,544,366) | $ | 1,565,641,128 | ||
Fidelity Central Funds (cost $70,886,440) | 70,886,440 | |||
Total Investment in Securities (cost $1,412,430,806) | $ | 1,636,527,568 | ||
Segregated cash with brokers for derivative instruments | 203,456 | |||
Dividends receivable | 605,209 | |||
Distributions receivable from Fidelity Central Funds | 27,617 | |||
Prepaid expenses | 1,072 | |||
Receivable from investment adviser for expense reductions | 81,367 | |||
Other receivables | 37,916 | |||
Total assets | 1,637,484,205 | |||
Liabilities | ||||
Payable for investments purchased | $ | 252,637 | ||
Accrued management fee | 144,107 | |||
Payable for daily variation margin on futures contracts | 99,940 | |||
Other payables and accrued expenses | 74,156 | |||
Collateral on securities loaned | 66,151,586 | |||
Total Liabilities | 66,722,426 | |||
Net Assets | $ | 1,570,761,779 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,381,567,069 | ||
Total accumulated earnings (loss) | 189,194,710 | |||
Net Assets | $ | 1,570,761,779 | ||
Net Asset Value, offering price and redemption price per share ($1,570,761,779 ÷ 260,909,992 shares) | $ | 6.02 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 12,236,348 | ||
Interest | 8,012 | |||
Income from Fidelity Central Funds (including $262,197 from security lending) | 355,806 | |||
Total Income | 12,600,166 | |||
Expenses | ||||
Management fee | $ | 826,285 | ||
Custodian fees and expenses | 36,524 | |||
Independent trustees' fees and expenses | 2,487 | |||
Registration fees | 4,980 | |||
Audit | 29,095 | |||
Legal | 2,358 | |||
Interest | 21,604 | |||
Miscellaneous | 2,734 | |||
Total expenses before reductions | 926,067 | |||
Expense reductions | (526,588) | |||
Total expenses after reductions | 399,479 | |||
Net Investment income (loss) | 12,200,687 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (617,208) | |||
Futures contracts | 59,070 | |||
Total net realized gain (loss) | (558,138) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 8,541,947 | |||
Assets and liabilities in foreign currencies | (72) | |||
Futures contracts | (6,838) | |||
Total change in net unrealized appreciation (depreciation) | 8,535,037 | |||
Net gain (loss) | 7,976,899 | |||
Net increase (decrease) in net assets resulting from operations | $ | 20,177,586 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 12,200,687 | $ | 17,192,877 |
Net realized gain (loss) | (558,138) | (9,576,067) | ||
Change in net unrealized appreciation (depreciation) | 8,535,037 | 138,189,010 | ||
Net increase (decrease) in net assets resulting from operations | 20,177,586 | 145,805,820 | ||
Distributions to shareholders | (37,672,815) | (110,768,589) | ||
Share transactions | ||||
Proceeds from sales of shares | 102,498,008 | 1,860,933,035 | ||
Reinvestment of distributions | 37,661,887 | 110,367,799 | ||
Cost of shares redeemed | (162,839,850) | (641,896,678) | ||
Net increase (decrease) in net assets resulting from share transactions | (22,679,955) | 1,329,404,156 | ||
Total increase (decrease) in net assets | (40,175,184) | 1,364,441,387 | ||
Net Assets | ||||
Beginning of period | 1,610,936,963 | 246,495,576 | ||
End of period | $ | 1,570,761,779 | $ | 1,610,936,963 |
Other Information | ||||
Shares | ||||
Sold | 17,099,012 | 336,949,020 | ||
Issued in reinvestment of distributions | 6,626,293 | 19,549,412 | ||
Redeemed | (28,321,934) | (116,031,798) | ||
Net increase (decrease) | (4,596,629) | 240,466,634 | ||
Fidelity® SAI Small-Mid Cap 500 Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 6.07 | $ | 9.84 | $ | 16.46 | $ | 12.19 | $ | 12.80 | $ | 12.95 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .05 | .10 | .16 | .20 | .20 | .19 | ||||||
Net realized and unrealized gain (loss) | .04 | .38 | (1.07) | 5.09 | (.20) C | .46 | ||||||
Total from investment operations | .09 | .48 | (.91) | 5.29 | - | .65 | ||||||
Distributions from net investment income | (.09) | (.11) | (.22) | (.17) | (.22) | (.18) | ||||||
Distributions from net realized gain | (.05) | (4.15) | (5.48) | (.85) | (.39) | (.63) | ||||||
Total distributions | (.14) | (4.25) D | (5.71) D | (1.02) | (.61) | (.80) D | ||||||
Net asset value, end of period | $ | 6.02 | $ | 6.07 | $ | 9.84 | $ | 16.46 | $ | 12.19 | $ | 12.80 |
Total Return E,F | 1.70% | 8.32% | (8.94)% | 46.99% | (.03)% C | 5.26% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .12% I,J | .15% | .14% | .13% | .13% | .22% | ||||||
Expenses net of fee waivers, if any | .05% I,J | .06% | .05% | .05% | .05% | .08% | ||||||
Expenses net of all reductions | .05% I,J | .06% | .05% | .05% | .05% | .08% | ||||||
Net investment income (loss) | 1.62% I,J | 1.77% | 1.35% | 1.37% | 1.66% | 1.53% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,570,762 | $ | 1,610,937 | $ | 246,496 | $ | 1,087,415 | $ | 1,921,810 | $ | 1,862,285 |
Portfolio turnover rate K | 20% I | 76% | 93% | 69% | 79% | 41% |
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 | $307,790,632 |
Gross unrealized depreciation | (107,521,444) |
Net unrealized appreciation (depreciation) | $200,269,188 |
Tax cost | $1,436,365,081 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI Small-Mid Cap 500 Index Fund | 148,481,149 | 186,971,788 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI Small-Mid Cap 500 Index Fund | Borrower | $ 15,520,556 | 5.57% | $ 21,604 |
Amount | |
Fidelity SAI Small-Mid Cap 500 Index Fund | $1,200 |
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 SAI Small-Mid Cap 500 Index Fund | $24,654 | $ 3,163 | $- |
Strategic Advisers Fidelity U.S. Total Stock Fund | Strategic Advisers Small-Mid Cap Fund | |
Fidelity SAI Small-Mid Cap 500 Index Fund | 74% | 26% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI Small-Mid Cap 500 Index Fund | .05% | |||||||||
Actual | $ 1,000 | $ 1,017.00 | $ .25 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.89 | $ .25 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
Prologis, Inc. | 8.8 | |
American Tower Corp. | 6.9 | |
Equinix, Inc. | 5.8 | |
Crown Castle, Inc. | 3.5 | |
Simon Property Group, Inc. | 3.4 | |
Realty Income Corp. | 3.4 | |
Welltower, Inc. | 3.4 | |
Public Storage | 3.4 | |
Digital Realty Trust, Inc. | 3.2 | |
CoStar Group, Inc. | 2.6 | |
44.4 | ||
Top REIT Sectors (% of Fund's net assets) | ||
REITs - Diversified | 22.2 | |
REITs - Warehouse/Industrial | 11.8 | |
REITs - Apartments | 10.2 | |
REITs - Management/Investment | 10.1 | |
REITs - Storage | 8.1 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.3% |
Common Stocks - 99.7% | |||
Shares | Value ($) | ||
Equity Real Estate Investment Trusts (REITs) - 92.1% | |||
REITs - Apartments - 10.2% | |||
American Homes 4 Rent Class A | 20,282 | 710,884 | |
Apartment Investment & Management Co. Class A (a) | 8,129 | 60,398 | |
AvalonBay Communities, Inc. | 8,839 | 1,582,269 | |
Camden Property Trust (SBI) | 6,652 | 624,224 | |
Centerspace | 937 | 51,310 | |
Equity Residential (SBI) | 22,382 | 1,347,173 | |
Essex Property Trust, Inc. | 3,995 | 931,914 | |
Independence Realty Trust, Inc. (b) | 14,186 | 208,392 | |
Invitation Homes, Inc. | 38,169 | 1,256,905 | |
Mid-America Apartment Communities, Inc. | 7,255 | 916,887 | |
UDR, Inc. | 19,521 | 703,146 | |
8,393,502 | |||
REITs - Diversified - 22.2% | |||
Alexander & Baldwin, Inc. | 4,572 | 79,187 | |
Apartment Income (REIT) Corp. | 9,305 | 304,180 | |
Apple Hospitality (REIT), Inc. | 13,690 | 219,861 | |
Armada Hoffler Properties, Inc. | 4,375 | 52,325 | |
Broadstone Net Lease, Inc. | 11,757 | 188,935 | |
Cousins Properties, Inc. | 9,557 | 218,951 | |
Crown Castle, Inc. | 26,937 | 2,915,930 | |
Digital Realty Trust, Inc. | 18,819 | 2,643,317 | |
Elme Communities (SBI) | 5,404 | 78,250 | |
EPR Properties | 4,737 | 209,707 | |
Equinix, Inc. | 5,814 | 4,824,283 | |
Farmland Partners, Inc. (b) | 2,913 | 32,684 | |
Gaming & Leisure Properties | 16,314 | 744,734 | |
Gladstone Commercial Corp. | 2,541 | 32,576 | |
Gladstone Land Corp. | 2,085 | 29,524 | |
Global Net Lease, Inc. (b) | 12,277 | 103,741 | |
InvenTrust Properties Corp. | 4,182 | 103,839 | |
Lamar Advertising Co. Class A | 5,456 | 571,134 | |
NexPoint Diversified Real Estate Trust | 2,304 | 15,898 | |
NexPoint Residential Trust, Inc. | 1,460 | 44,603 | |
One Liberty Properties, Inc. | 1,118 | 22,628 | |
Outfront Media, Inc. | 9,334 | 121,529 | |
Potlatch Corp. | 4,975 | 222,532 | |
SBA Communications Corp. Class A | 6,726 | 1,505,682 | |
Uniti Group, Inc. (b) | 15,212 | 80,015 | |
VICI Properties, Inc. | 63,166 | 1,902,560 | |
Vornado Realty Trust | 10,106 | 274,782 | |
WP Carey, Inc. | 13,300 | 824,068 | |
18,367,455 | |||
REITs - Health Care - 7.0% | |||
CareTrust (REIT), Inc. | 6,245 | 130,645 | |
Community Healthcare Trust, Inc. | 1,583 | 40,509 | |
Diversified Healthcare Trust (SBI) (b) | 10,754 | 30,864 | |
Global Medical REIT, Inc. | 4,224 | 42,705 | |
Healthcare Trust of America, Inc. | 23,575 | 379,793 | |
Healthpeak Properties, Inc. | 34,067 | 630,240 | |
LTC Properties, Inc. | 2,509 | 78,206 | |
Medical Properties Trust, Inc. (b) | 37,396 | 115,928 | |
Physicians Realty Trust | 14,916 | 182,572 | |
Sabra Health Care REIT, Inc. | 14,395 | 192,029 | |
Universal Health Realty Income Trust (SBI) | 824 | 32,803 | |
Ventas, Inc. | 24,936 | 1,156,781 | |
Welltower, Inc. | 32,216 | 2,787,006 | |
5,800,081 | |||
REITs - Health Care Facilities - 0.7% | |||
National Health Investors, Inc. (b) | 2,692 | 143,161 | |
Omega Healthcare Investors, Inc. | 15,215 | 441,235 | |
584,396 | |||
REITs - Hotels - 2.6% | |||
Chatham Lodging Trust | 3,095 | 32,498 | |
DiamondRock Hospitality Co. (b) | 13,251 | 121,114 | |
Host Hotels & Resorts, Inc. | 44,332 | 852,061 | |
Park Hotels & Resorts, Inc. | 13,673 | 206,189 | |
Pebblebrook Hotel Trust | 7,584 | 115,428 | |
RLJ Lodging Trust | 9,850 | 114,063 | |
Ryman Hospitality Properties, Inc. | 3,515 | 386,299 | |
Service Properties Trust | 10,388 | 80,299 | |
Summit Hotel Properties, Inc. | 6,902 | 44,725 | |
Sunstone Hotel Investors, Inc. | 12,342 | 131,689 | |
Xenia Hotels & Resorts, Inc. (b) | 6,744 | 89,898 | |
2,174,263 | |||
REITs - Industrial Buildings - 0.5% | |||
Stag Industrial, Inc. | 11,256 | 415,797 | |
REITs - Management/Investment - 10.1% | |||
American Assets Trust, Inc. | 3,118 | 69,937 | |
American Tower Corp. | 28,945 | 5,663,089 | |
Empire State Realty Trust, Inc. (b) | 8,533 | 81,234 | |
LXP Industrial Trust (REIT) | 18,168 | 165,147 | |
NNN (REIT), Inc. | 11,252 | 453,906 | |
Rayonier, Inc. | 8,777 | 265,943 | |
Safehold, Inc. | 2,862 | 56,839 | |
UMH Properties, Inc. | 3,948 | 59,654 | |
Weyerhaeuser Co. | 45,420 | 1,488,413 | |
Whitestone REIT Class B | 2,953 | 38,153 | |
8,342,315 | |||
REITs - Manufactured Homes - 2.1% | |||
Equity Lifestyle Properties, Inc. (b) | 10,967 | 742,356 | |
Sun Communities, Inc. | 7,728 | 968,705 | |
1,711,061 | |||
REITs - Office - 0.1% | |||
Net Lease Office Properties | 903 | 22,376 | |
Peakstone Realty Trust (b) | 2,292 | 33,188 | |
55,564 | |||
REITs - Office Buildings - 0.0% | |||
Office Properties Income Trust | 3,359 | 12,328 | |
REITs - Office Property - 4.1% | |||
Alexandria Real Estate Equities, Inc. | 10,239 | 1,237,895 | |
Boston Properties, Inc. | 9,322 | 619,913 | |
Brandywine Realty Trust (SBI) (b) | 11,174 | 52,965 | |
City Office REIT, Inc. | 2,693 | 14,138 | |
COPT Defense Properties (SBI) | 6,990 | 164,684 | |
Douglas Emmett, Inc. (b) | 10,506 | 142,356 | |
Easterly Government Properties, Inc. | 6,047 | 74,257 | |
Equity Commonwealth | 6,392 | 122,151 | |
Franklin Street Properties Corp. | 5,225 | 12,854 | |
Highwoods Properties, Inc. (SBI) | 6,799 | 156,173 | |
Hudson Pacific Properties, Inc. | 7,968 | 65,258 | |
JBG SMITH Properties | 6,137 | 98,192 | |
Kilroy Realty Corp. | 7,028 | 251,321 | |
Orion Office (REIT), Inc. | 3,542 | 18,206 | |
Paramount Group, Inc. | 10,090 | 47,928 | |
Piedmont Office Realty Trust, Inc. Class A | 7,923 | 53,876 | |
SL Green Realty Corp. | 4,075 | 183,171 | |
Veris Residential, Inc. (b) | 4,536 | 69,174 | |
3,384,512 | |||
REITs - Regional Malls - 3.9% | |||
CBL & Associates Properties, Inc. | 598 | 13,981 | |
Simon Property Group, Inc. | 20,315 | 2,815,862 | |
Tanger, Inc. | 6,619 | 178,051 | |
The Macerich Co. | 13,575 | 214,349 | |
3,222,243 | |||
REITs - Shopping Centers - 7.6% | |||
Acadia Realty Trust (SBI) | 6,120 | 104,407 | |
Alexanders, Inc. | 148 | 32,529 | |
Brixmor Property Group, Inc. | 18,667 | 418,887 | |
Federal Realty Investment Trust (SBI) | 4,547 | 462,566 | |
Kimco Realty Corp. | 41,853 | 845,431 | |
Kite Realty Group Trust | 13,786 | 295,020 | |
Phillips Edison & Co., Inc. | 7,301 | 253,418 | |
Realty Income Corp. | 51,714 | 2,812,724 | |
Regency Centers Corp. | 10,358 | 649,136 | |
Retail Opportunity Investments Corp. | 7,965 | 108,244 | |
Saul Centers, Inc. | 793 | 30,340 | |
SITE Centers Corp. | 11,942 | 159,067 | |
Urban Edge Properties | 7,456 | 128,765 | |
6,300,534 | |||
REITs - Single Tenant - 1.1% | |||
Agree Realty Corp. | 5,974 | 356,110 | |
Essential Properties Realty Trust, Inc. | 9,793 | 243,944 | |
Four Corners Property Trust, Inc. (b) | 5,642 | 132,079 | |
Getty Realty Corp. | 2,939 | 81,293 | |
NETSTREIT Corp. | 4,390 | 79,766 | |
893,192 | |||
REITs - Storage - 8.1% | |||
CubeSmart | 14,002 | 605,166 | |
Extra Space Storage, Inc. | 13,139 | 1,897,797 | |
Iron Mountain, Inc. | 18,103 | 1,222,315 | |
National Storage Affiliates Trust | 5,310 | 198,329 | |
Public Storage | 9,837 | 2,785,740 | |
6,709,347 | |||
REITs - Warehouse/Industrial - 11.8% | |||
Americold Realty Trust (b) | 16,756 | 460,790 | |
EastGroup Properties, Inc. | 2,838 | 503,546 | |
First Industrial Realty Trust, Inc. | 8,204 | 422,670 | |
Industrial Logistics Properties Trust | 3,531 | 14,053 | |
Plymouth Industrial REIT, Inc. | 2,622 | 58,051 | |
Prologis, Inc. | 57,438 | 7,276,822 | |
Rexford Industrial Realty, Inc. | 12,922 | 679,568 | |
Terreno Realty Corp. | 5,264 | 314,419 | |
9,729,919 | |||
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS) | 76,096,509 | ||
Real Estate Management & Development - 7.6% | |||
Diversified Real Estate Activities - 0.2% | |||
The RMR Group, Inc. | 976 | 25,464 | |
The St. Joe Co. | 2,220 | 122,544 | |
148,008 | |||
Real Estate Development - 0.3% | |||
Forestar Group, Inc. (a) | 1,287 | 40,232 | |
Howard Hughes Holdings, Inc. | 2,136 | 171,051 | |
211,283 | |||
Real Estate Operating Companies - 0.3% | |||
Digitalbridge Group, Inc. (b) | 10,164 | 199,621 | |
Kennedy-Wilson Holdings, Inc. | 6,748 | 70,517 | |
270,138 | |||
Real Estate Services - 6.8% | |||
Anywhere Real Estate, Inc. (a) | 6,242 | 44,443 | |
CBRE Group, Inc. (a) | 19,238 | 1,660,432 | |
Compass, Inc. (a) | 21,988 | 75,639 | |
CoStar Group, Inc. (a) | 25,378 | 2,118,555 | |
Cushman & Wakefield PLC (a) | 10,004 | 105,242 | |
Doma Holdings, Inc. Class A (a)(b) | 403 | 1,672 | |
eXp World Holdings, Inc. (b) | 4,840 | 59,919 | |
Jones Lang LaSalle, Inc. (a) | 2,964 | 524,806 | |
Marcus & Millichap, Inc. | 1,574 | 59,954 | |
Newmark Group, Inc. | 9,104 | 92,406 | |
Offerpad Solutions, Inc. (a)(b) | 696 | 6,487 | |
Opendoor Technologies, Inc. (a) | 33,208 | 113,571 | |
Redfin Corp. (a)(b) | 7,158 | 58,409 | |
Zillow Group, Inc.: | |||
Class A (a) | 3,529 | 194,413 | |
Class C (a) | 9,491 | 539,468 | |
5,655,416 | |||
REITs - Shopping Centers - 0.0% | |||
Seritage Growth Properties (a)(b) | 2,164 | 19,801 | |
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT | 6,304,646 | ||
TOTAL COMMON STOCKS (Cost $72,291,538) | 82,401,155 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $99,691) | 100,000 | 99,693 | |
Money Market Funds - 2.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 73,978 | 73,993 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 2,075,400 | 2,075,607 | |
TOTAL MONEY MARKET FUNDS (Cost $2,149,600) | 2,149,600 | ||
TOTAL INVESTMENT IN SECURITIES - 102.4% (Cost $74,540,829) | 84,650,448 |
NET OTHER ASSETS (LIABILITIES) - (2.4)% | (1,965,945) |
NET ASSETS - 100.0% | 82,684,503 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P MidCap 400 Index Contracts (United States) | 1 | Mar 2024 | 274,330 | 6,973 | 6,973 |
The notional amount of futures purchased as a percentage of Net Assets is 0.3% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $40,874. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 196,160 | 1,470,146 | 1,592,313 | 4,615 | - | - | 73,993 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 834,557 | 6,170,915 | 4,929,865 | 1,842 | - | - | 2,075,607 | 0.0% |
Total | 1,030,717 | 7,641,061 | 6,522,178 | 6,457 | - | - | 2,149,600 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 82,401,155 | 82,401,155 | - | - |
U.S. Treasury Obligations | 99,693 | - | 99,693 | - |
Money Market Funds | 2,149,600 | 2,149,600 | - | - |
Total Investments in Securities: | 84,650,448 | 84,550,755 | 99,693 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 6,973 | 6,973 | - | - |
Total Assets | 6,973 | 6,973 | - | - |
Total Derivative Instruments: | 6,973 | 6,973 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 6,973 | 0 |
Total Equity Risk | 6,973 | 0 |
Total Value of Derivatives | 6,973 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $1,974,503) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $72,391,229) | $ | 82,500,848 | ||
Fidelity Central Funds (cost $2,149,600) | 2,149,600 | |||
Total Investment in Securities (cost $74,540,829) | $ | 84,650,448 | ||
Segregated cash with brokers for derivative instruments | 10,049 | |||
Cash | 37,085 | |||
Dividends receivable | 80,516 | |||
Distributions receivable from Fidelity Central Funds | 1,034 | |||
Prepaid expenses | 61 | |||
Receivable from investment adviser for expense reductions | 20,532 | |||
Other receivables | 3,189 | |||
Total assets | 84,802,914 | |||
Liabilities | ||||
Accrued management fee | $ | 4,972 | ||
Payable for daily variation margin on futures contracts | 5,260 | |||
Other payables and accrued expenses | 32,154 | |||
Collateral on securities loaned | 2,076,025 | |||
Total Liabilities | 2,118,411 | |||
Net Assets | $ | 82,684,503 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 85,450,417 | ||
Total accumulated earnings (loss) | (2,765,914) | |||
Net Assets | $ | 82,684,503 | ||
Net Asset Value, offering price and redemption price per share ($82,684,503 ÷ 12,004,394 shares) | $ | 6.89 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,293,845 | ||
Interest | 2,598 | |||
Income from Fidelity Central Funds (including $1,842 from security lending) | 6,457 | |||
Total Income | 1,302,900 | |||
Expenses | ||||
Management fee | $ | 27,876 | ||
Custodian fees and expenses | 3,609 | |||
Independent trustees' fees and expenses | 132 | |||
Registration fees | 19,176 | |||
Audit | 29,273 | |||
Legal | 250 | |||
Miscellaneous | 128 | |||
Total expenses before reductions | 80,444 | |||
Expense reductions | (52,615) | |||
Total expenses after reductions | 27,829 | |||
Net Investment income (loss) | 1,275,071 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (232,830) | |||
Futures contracts | 2,092 | |||
Total net realized gain (loss) | (230,738) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (483,171) | |||
Futures contracts | (12,604) | |||
Total change in net unrealized appreciation (depreciation) | (495,775) | |||
Net gain (loss) | (726,513) | |||
Net increase (decrease) in net assets resulting from operations | $ | 548,558 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,275,071 | $ | 3,505,923 |
Net realized gain (loss) | (230,738) | 36,843,376 | ||
Change in net unrealized appreciation (depreciation) | (495,775) | (77,494,494) | ||
Net increase (decrease) in net assets resulting from operations | 548,558 | (37,145,195) | ||
Distributions to shareholders | (3,296,002) | (64,713,259) | ||
Share transactions | ||||
Proceeds from sales of shares | - | 1,407,824 | ||
Reinvestment of distributions | 3,296,002 | 64,704,858 | ||
Cost of shares redeemed | (994,293) | (287,910,648) | ||
Net increase (decrease) in net assets resulting from share transactions | 2,301,709 | (221,797,966) | ||
Total increase (decrease) in net assets | (445,735) | (323,656,420) | ||
Net Assets | ||||
Beginning of period | 83,130,238 | 406,786,658 | ||
End of period | $ | 82,684,503 | $ | 83,130,238 |
Other Information | ||||
Shares | ||||
Sold | - | 128,760 | ||
Issued in reinvestment of distributions | 482,656 | 7,441,997 | ||
Redeemed | (140,507) | (29,859,078) | ||
Net increase (decrease) | 342,149 | (22,288,321) | ||
Fidelity® SAI Real Estate Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 7.13 | $ | 11.98 | $ | 13.17 | $ | 9.67 | $ | 11.88 | $ | 11.11 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .11 | .26 | .29 | .28 | .36 | .37 | ||||||
Net realized and unrealized gain (loss) | (.07) | (1.38) | (.79) | 3.48 | (2.20) | .79 | ||||||
Total from investment operations | .04 | (1.12) | (.50) | 3.76 | (1.84) | 1.16 | ||||||
Distributions from net investment income | (.08) | (.34) | (.21) | (.26) | (.30) | (.37) | ||||||
Distributions from net realized gain | (.20) | (3.39) | (.48) | - | (.07) | (.02) | ||||||
Total distributions | (.28) | (3.73) | (.69) | (.26) | (.37) | (.39) | ||||||
Net asset value, end of period | $ | 6.89 | $ | 7.13 | $ | 11.98 | $ | 13.17 | $ | 9.67 | $ | 11.88 |
Total Return C,D | .64% | (9.67)% | (4.24)% | 39.72% | (16.04)% | 10.79% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .20% G,H | .16% | .09% | .09% | .16% | .15% | ||||||
Expenses net of fee waivers, if any | .07% G,H | .09% | .07% | .07% | .07% | .07% | ||||||
Expenses net of all reductions | .07% G,H | .09% | .07% | .07% | .07% | .07% | ||||||
Net investment income (loss) | 3.21% G,H | 3.10% | 2.28% | 2.58% | 3.52% | 3.31% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 82,685 | $ | 83,130 | $ | 406,787 | $ | 747,826 | $ | 572,828 | $ | 104,696 |
Portfolio turnover rate I | 5% G | 8% | 13% | 53% | 82% | 9% |
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 | $16,525,527 |
Gross unrealized depreciation | (6,910,108) |
Net unrealized appreciation (depreciation) | $9,615,419 |
Tax cost | $75,042,002 |
Short-term | $(749,549) |
Long-term | (11,418,962) |
Total capital loss carryforward | $(12,168,511) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI Real Estate Index Fund | 2,475,631 | 1,847,972 |
Amount | |
Fidelity SAI Real Estate Index Fund | $63 |
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 SAI Real Estate Index Fund | $164 | $16 | $7,023 |
Strategic Advisers Small-Mid Cap Fund | |
Fidelity SAI Real Estate Index Fund | 99% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI Real Estate Index Fund | .07% | |||||||||
Actual | $ 1,000 | $ 1,006.40 | $ .35 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.78 | $ .36 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 9.3 | |
Apple, Inc. | 8.5 | |
Alphabet, Inc. Class A | 6.3 | |
Meta Platforms, Inc. Class A | 5.1 | |
Broadcom, Inc. | 4.6 | |
Merck & Co., Inc. | 3.9 | |
Visa, Inc. Class A | 3.9 | |
AbbVie, Inc. | 3.8 | |
MasterCard, Inc. Class A | 3.8 | |
Johnson & Johnson | 3.7 | |
52.9 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 38.1 | |
Health Care | 20.8 | |
Communication Services | 11.9 | |
Financials | 10.1 | |
Industrials | 7.3 | |
Consumer Staples | 5.5 | |
Consumer Discretionary | 5.2 | |
Real Estate | 0.7 | |
Materials | 0.2 | |
Energy | 0.1 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.1% |
Common Stocks - 99.9% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 11.9% | |||
Interactive Media & Services - 11.4% | |||
Alphabet, Inc. Class A (a)(b) | 6,250,305 | 875,667,731 | |
Meta Platforms, Inc. Class A | 1,800,808 | 702,567,233 | |
1,578,234,964 | |||
Media - 0.5% | |||
The Trade Desk, Inc. (a) | 1,020,092 | 69,804,896 | |
TOTAL COMMUNICATION SERVICES | 1,648,039,860 | ||
CONSUMER DISCRETIONARY - 5.2% | |||
Broadline Retail - 0.4% | |||
Amazon.com, Inc. (a) | 104,236 | 16,177,427 | |
eBay, Inc. | 1,109,457 | 45,565,399 | |
61,742,826 | |||
Hotels, Restaurants & Leisure - 2.5% | |||
Booking Holdings, Inc. (a) | 75,090 | 263,375,922 | |
Yum! Brands, Inc. | 585,098 | 75,764,340 | |
339,140,262 | |||
Household Durables - 0.6% | |||
Garmin Ltd. | 321,554 | 38,422,487 | |
NVR, Inc. (a) | 6,868 | 48,593,092 | |
87,015,579 | |||
Specialty Retail - 1.7% | |||
AutoZone, Inc. (a) | 37,887 | 104,648,819 | |
O'Reilly Automotive, Inc. (a) | 126,746 | 129,667,495 | |
234,316,314 | |||
TOTAL CONSUMER DISCRETIONARY | 722,214,981 | ||
CONSUMER STAPLES - 5.5% | |||
Beverages - 3.3% | |||
The Coca-Cola Co. | 7,734,006 | 460,096,017 | |
Household Products - 1.1% | |||
Colgate-Palmolive Co. | 1,740,152 | 146,520,798 | |
Tobacco - 1.1% | |||
Altria Group, Inc. | 3,707,377 | 148,739,965 | |
TOTAL CONSUMER STAPLES | 755,356,780 | ||
ENERGY - 0.1% | |||
Oil, Gas & Consumable Fuels - 0.1% | |||
Texas Pacific Land Corp. (b) | 12,432 | 18,167,255 | |
FINANCIALS - 10.1% | |||
Banks - 0.3% | |||
First Citizens Bancshares, Inc. | 25,029 | 37,793,790 | |
Capital Markets - 0.9% | |||
Ameriprise Financial, Inc. | 214,448 | 82,954,920 | |
LPL Financial (b) | 159,111 | 38,057,760 | |
121,012,680 | |||
Financial Services - 7.8% | |||
Equitable Holdings, Inc. (b) | 687,523 | 22,475,127 | |
MasterCard, Inc. Class A | 1,175,211 | 527,940,038 | |
Visa, Inc. Class A | 1,976,585 | 540,121,617 | |
1,090,536,782 | |||
Insurance - 1.1% | |||
Aon PLC | 425,181 | 126,886,766 | |
Kinsale Capital Group, Inc. (b) | 46,256 | 18,389,998 | |
Lincoln National Corp. (b) | 256,676 | 7,045,756 | |
152,322,520 | |||
TOTAL FINANCIALS | 1,401,665,772 | ||
HEALTH CARE - 20.8% | |||
Biotechnology - 9.6% | |||
AbbVie, Inc. | 3,222,099 | 529,713,076 | |
Amgen, Inc. | 1,121,856 | 352,554,467 | |
Regeneron Pharmaceuticals, Inc. (a) | 224,073 | 211,251,543 | |
Vertex Pharmaceuticals, Inc. (a) | 542,147 | 234,955,667 | |
1,328,474,753 | |||
Health Care Equipment & Supplies - 1.4% | |||
Edwards Lifesciences Corp. (a) | 1,270,566 | 99,701,314 | |
IDEXX Laboratories, Inc. (a) | 173,763 | 89,501,846 | |
189,203,160 | |||
Health Care Technology - 0.4% | |||
Veeva Systems, Inc. Class A (a) | 305,096 | 63,279,961 | |
Life Sciences Tools & Services - 0.5% | |||
Medpace Holdings, Inc. (a) | 49,015 | 14,291,794 | |
Mettler-Toledo International, Inc. (a) | 45,472 | 54,438,624 | |
68,730,418 | |||
Pharmaceuticals - 8.9% | |||
Johnson & Johnson | 3,202,342 | 508,852,144 | |
Merck & Co., Inc. | 4,505,113 | 544,127,548 | |
Zoetis, Inc. Class A | 963,000 | 180,861,030 | |
1,233,840,722 | |||
TOTAL HEALTH CARE | 2,883,529,014 | ||
INDUSTRIALS - 7.3% | |||
Air Freight & Logistics - 0.3% | |||
Expeditors International of Washington, Inc. | 308,681 | 38,995,671 | |
Commercial Services & Supplies - 0.8% | |||
Cintas Corp. | 182,492 | 110,329,188 | |
Machinery - 1.9% | |||
Allison Transmission Holdings, Inc. | 192,589 | 11,659,338 | |
Illinois Tool Works, Inc. | 575,869 | 150,244,222 | |
Otis Worldwide Corp. | 858,584 | 75,933,169 | |
Snap-On, Inc. | 108,297 | 31,398,549 | |
269,235,278 | |||
Professional Services - 3.0% | |||
Automatic Data Processing, Inc. | 866,476 | 212,962,471 | |
Paychex, Inc. | 669,234 | 81,465,855 | |
Paycom Software, Inc. | 102,361 | 19,473,157 | |
Paylocity Holding Corp. (a)(b) | 89,656 | 14,202,407 | |
Robert Half, Inc. | 223,534 | 17,779,894 | |
Verisk Analytics, Inc. | 307,338 | 74,231,347 | |
420,115,131 | |||
Trading Companies & Distributors - 1.3% | |||
Fastenal Co. | 1,199,586 | 81,847,753 | |
MSC Industrial Direct Co., Inc. Class A | 100,037 | 9,871,651 | |
W.W. Grainger, Inc. | 93,526 | 83,765,627 | |
175,485,031 | |||
TOTAL INDUSTRIALS | 1,014,160,299 | ||
INFORMATION TECHNOLOGY - 38.1% | |||
IT Services - 0.3% | |||
VeriSign, Inc. (a) | 194,241 | 38,630,650 | |
Semiconductors & Semiconductor Equipment - 11.3% | |||
Applied Materials, Inc. | 1,417,072 | 232,824,930 | |
Broadcom, Inc. | 546,067 | 644,359,060 | |
KLA Corp. | 286,552 | 170,223,350 | |
Lam Research Corp. | 279,783 | 230,868,538 | |
Lattice Semiconductor Corp. (a)(b) | 286,759 | 17,452,153 | |
NVIDIA Corp. | 443,285 | 272,739,962 | |
1,568,467,993 | |||
Software - 18.0% | |||
Adobe, Inc. (a) | 765,261 | 472,762,941 | |
Autodesk, Inc. (a) | 448,208 | 113,759,672 | |
Cadence Design Systems, Inc. (a) | 574,043 | 165,588,444 | |
Check Point Software Technologies Ltd. (a) | 202,019 | 32,106,880 | |
Dolby Laboratories, Inc. Class A | 125,602 | 10,447,574 | |
Fair Isaac Corp. (a) | 53,030 | 63,573,955 | |
Fortinet, Inc. (a) | 1,367,387 | 88,182,788 | |
Manhattan Associates, Inc. (a) | 132,126 | 32,048,483 | |
Microsoft Corp. | 3,226,434 | 1,282,765,627 | |
Palo Alto Networks, Inc. (a) | 643,627 | 217,874,176 | |
Qualys, Inc. (a) | 79,485 | 15,036,177 | |
2,494,146,717 | |||
Technology Hardware, Storage & Peripherals - 8.5% | |||
Apple, Inc. | 6,397,377 | 1,179,676,319 | |
TOTAL INFORMATION TECHNOLOGY | 5,280,921,679 | ||
MATERIALS - 0.2% | |||
Chemicals - 0.2% | |||
CF Industries Holdings, Inc. | 402,203 | 30,370,349 | |
REAL ESTATE - 0.7% | |||
Equity Real Estate Investment Trusts (REITs) - 0.7% | |||
Simon Property Group, Inc. | 684,066 | 94,818,388 | |
TOTAL COMMON STOCKS (Cost $9,096,773,206) | 13,849,244,377 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $1,993,821) | 2,000,000 | 1,993,862 | |
Money Market Funds - 0.2% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 9,560,302 | 9,562,214 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 15,380,383 | 15,381,921 | |
TOTAL MONEY MARKET FUNDS (Cost $24,944,135) | 24,944,135 | ||
TOTAL INVESTMENT IN SECURITIES - 100.1% (Cost $9,123,711,162) | 13,876,182,374 |
NET OTHER ASSETS (LIABILITIES) - (0.1)% | (8,509,883) |
NET ASSETS - 100.0% | 13,867,672,491 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 76 | Mar 2024 | 18,507,900 | 788,602 | 788,602 |
The notional amount of futures purchased as a percentage of Net Assets is 0.1% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $882,284. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 26,917,616 | 797,708,869 | 815,064,271 | 704,529 | - | - | 9,562,214 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 24,275,950 | 161,251,327 | 170,145,356 | 5,253 | - | - | 15,381,921 | 0.1% |
Total | 51,193,566 | 958,960,196 | 985,209,627 | 709,782 | - | - | 24,944,135 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,648,039,860 | 1,648,039,860 | - | - |
Consumer Discretionary | 722,214,981 | 722,214,981 | - | - |
Consumer Staples | 755,356,780 | 755,356,780 | - | - |
Energy | 18,167,255 | 18,167,255 | - | - |
Financials | 1,401,665,772 | 1,401,665,772 | - | - |
Health Care | 2,883,529,014 | 2,883,529,014 | - | - |
Industrials | 1,014,160,299 | 1,014,160,299 | - | - |
Information Technology | 5,280,921,679 | 5,280,921,679 | - | - |
Materials | 30,370,349 | 30,370,349 | - | - |
Real Estate | 94,818,388 | 94,818,388 | - | - |
U.S. Government and Government Agency Obligations | 1,993,862 | - | 1,993,862 | - |
Money Market Funds | 24,944,135 | 24,944,135 | - | - |
Total Investments in Securities: | 13,876,182,374 | 13,874,188,512 | 1,993,862 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 788,602 | 788,602 | - | - |
Total Assets | 788,602 | 788,602 | - | - |
Total Derivative Instruments: | 788,602 | 788,602 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 788,602 | 0 |
Total Equity Risk | 788,602 | 0 |
Total Value of Derivatives | 788,602 | 0 |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $14,946,905) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $9,098,767,027) | $ | 13,851,238,239 | ||
Fidelity Central Funds (cost $24,944,135) | 24,944,135 | |||
Total Investment in Securities (cost $9,123,711,162) | $ | 13,876,182,374 | ||
Receivable for fund shares sold | 1,656,920 | |||
Dividends receivable | 7,786,400 | |||
Distributions receivable from Fidelity Central Funds | 105,287 | |||
Prepaid expenses | 9,309 | |||
Total assets | 13,885,740,290 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 1,214,045 | ||
Accrued management fee | 1,129,154 | |||
Payable for daily variation margin on futures contracts | 285,689 | |||
Other payables and accrued expenses | 70,315 | |||
Collateral on securities loaned | 15,368,596 | |||
Total Liabilities | 18,067,799 | |||
Net Assets | $ | 13,867,672,491 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 8,995,782,957 | ||
Total accumulated earnings (loss) | 4,871,889,534 | |||
Net Assets | $ | 13,867,672,491 | ||
Net Asset Value, offering price and redemption price per share ($13,867,672,491 ÷ 690,423,243 shares) | $ | 20.09 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 78,699,673 | ||
Interest | 56,797 | |||
Income from Fidelity Central Funds (including $5,253 from security lending) | 709,782 | |||
Total Income | 79,466,252 | |||
Expenses | ||||
Management fee | $ | 6,498,270 | ||
Custodian fees and expenses | 43,129 | |||
Independent trustees' fees and expenses | 21,302 | |||
Registration fees | 27,517 | |||
Audit | 29,175 | |||
Legal | 11,391 | |||
Interest | 237,021 | |||
Miscellaneous | 27,392 | |||
Total expenses before reductions | 6,895,197 | |||
Expense reductions | (5,921) | |||
Total expenses after reductions | 6,889,276 | |||
Net Investment income (loss) | 72,576,976 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 261,910,013 | |||
Futures contracts | 1,838,716 | |||
Total net realized gain (loss) | 263,748,729 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 937,492,534 | |||
Futures contracts | (1,328,098) | |||
Total change in net unrealized appreciation (depreciation) | 936,164,436 | |||
Net gain (loss) | 1,199,913,165 | |||
Net increase (decrease) in net assets resulting from operations | $ | 1,272,490,141 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 72,576,976 | $ | 159,567,532 |
Net realized gain (loss) | 263,748,729 | 72,409,466 | ||
Change in net unrealized appreciation (depreciation) | 936,164,436 | 1,425,225,146 | ||
Net increase (decrease) in net assets resulting from operations | 1,272,490,141 | 1,657,202,144 | ||
Distributions to shareholders | (317,078,481) | (151,433,952) | ||
Share transactions | ||||
Proceeds from sales of shares | 582,112,726 | 2,689,324,785 | ||
Reinvestment of distributions | 312,161,986 | 148,959,461 | ||
Cost of shares redeemed | (1,055,543,157) | (2,679,474,559) | ||
Net increase (decrease) in net assets resulting from share transactions | (161,268,445) | 158,809,687 | ||
Total increase (decrease) in net assets | 794,143,215 | 1,664,577,879 | ||
Net Assets | ||||
Beginning of period | 13,073,529,276 | 11,408,951,397 | ||
End of period | $ | 13,867,672,491 | $ | 13,073,529,276 |
Other Information | ||||
Shares | ||||
Sold | 31,005,826 | 165,452,298 | ||
Issued in reinvestment of distributions | 16,907,890 | 9,395,183 | ||
Redeemed | (56,751,292) | (167,559,660) | ||
Net increase (decrease) | (8,837,576) | 7,287,821 | ||
Fidelity® SAI U.S. Quality Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 18.70 | $ | 16.49 | $ | 19.24 | $ | 15.96 | $ | 15.19 | $ | 14.23 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .10 | .23 | .23 | .22 | .26 | .25 | ||||||
Net realized and unrealized gain (loss) | 1.75 | 2.20 | (1.36) | 4.58 | 2.45 | 1.10 | ||||||
Total from investment operations | 1.85 | 2.43 | (1.13) | 4.80 | 2.71 | 1.35 | ||||||
Distributions from net investment income | (.23) | (.22) | (.20) | (.28) | (.24) | (.19) | ||||||
Distributions from net realized gain | (.23) | - | (1.42) | (1.25) | (1.69) | (.20) | ||||||
Total distributions | (.46) | (.22) | (1.62) | (1.52) C | (1.94) C | (.39) | ||||||
Net asset value, end of period | $ | 20.09 | $ | 18.70 | $ | 16.49 | $ | 19.24 | $ | 15.96 | $ | 15.19 |
Total Return D,E | 10.12% | 14.97% | (6.55)% | 32.64% | 20.14% | 9.70% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .11% H,I | .11% | .10% | .10% | .11% | .19% | ||||||
Expenses net of fee waivers, if any | .11% H,I | .11% | .10% | .10% | .11% | .15% | ||||||
Expenses net of all reductions | .11% H,I | .11% | .10% | .10% | .11% | .15% | ||||||
Net investment income (loss) | 1.12% H,I | 1.43% | 1.30% | 1.30% | 1.83% | 1.76% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 13,867,672 | $ | 13,073,529 | $ | 11,408,951 | $ | 10,136,091 | $ | 8,332,335 | $ | 8,732,756 |
Portfolio turnover rate J | 55% I | 58% | 47% | 71% | 60% | 99% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $4,858,526,797 |
Gross unrealized depreciation | (124,743,122) |
Net unrealized appreciation (depreciation) | $4,733,783,675 |
Tax cost | $9,143,187,301 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI U.S. Quality Index Fund | 3,565,053,337 | 3,769,905,632 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI U.S. Quality Index Fund | Borrower | $ 139,374,455 | 5.57% | $ 237,021 |
Amount | |
Fidelity SAI U.S. Quality Index Fund | $10,279 |
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 SAI U.S. Quality Index Fund | $539 | $ 2 | $- |
Strategic Advisers Fidelity U.S. Total Stock Fund | |
Fidelity SAI U.S. Quality Index Fund | 85% |
Fund | % of shares held |
Fidelity SAI U.S. Quality Index Fund | 90% |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI U.S. Quality Index Fund | .11% | |||||||||
Actual | $ 1,000 | $ 1,101.20 | $ .58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.58 | $ .56 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
NVIDIA Corp. | 5.1 | |
Eli Lilly & Co. | 5.0 | |
Meta Platforms, Inc. Class A | 5.0 | |
Microsoft Corp. | 4.9 | |
Broadcom, Inc. | 4.8 | |
Amazon.com, Inc. | 3.3 | |
Adobe, Inc. | 3.3 | |
Alphabet, Inc. Class A | 2.5 | |
Apple, Inc. | 2.3 | |
Alphabet, Inc. Class C | 2.2 | |
38.4 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 40.8 | |
Industrials | 13.2 | |
Communication Services | 12.8 | |
Consumer Discretionary | 9.9 | |
Health Care | 9.0 | |
Financials | 7.7 | |
Materials | 2.2 | |
Energy | 1.6 | |
Consumer Staples | 1.1 | |
Utilities | 0.7 | |
Real Estate | 0.4 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.4% |
Common Stocks - 99.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 12.8% | |||
Entertainment - 2.0% | |||
Netflix, Inc. (a) | 11,047 | 6,231,723 | |
Roku, Inc. Class A (a) | 1,876 | 165,201 | |
Take-Two Interactive Software, Inc. (a) | 1,484 | 244,756 | |
6,641,680 | |||
Interactive Media & Services - 9.8% | |||
Alphabet, Inc.: | |||
Class A (a) | 57,333 | 8,032,353 | |
Class C (a) | 51,068 | 7,241,442 | |
Meta Platforms, Inc. Class A | 41,938 | 16,361,691 | |
Pinterest, Inc. Class A (a) | 5,149 | 192,933 | |
Snap, Inc. Class A (a) | 5,061 | 80,419 | |
31,908,838 | |||
Media - 1.0% | |||
Charter Communications, Inc. Class A (a) | 424 | 157,181 | |
Comcast Corp. Class A | 57,882 | 2,693,828 | |
News Corp. Class A | 6,794 | 167,404 | |
The Trade Desk, Inc. (a) | 2,887 | 197,557 | |
3,215,970 | |||
TOTAL COMMUNICATION SERVICES | 41,766,488 | ||
CONSUMER DISCRETIONARY - 9.9% | |||
Automobile Components - 0.0% | |||
BorgWarner, Inc. | 1,783 | 60,444 | |
Automobiles - 0.0% | |||
Rivian Automotive, Inc. (a)(b) | 5,953 | 91,140 | |
Broadline Retail - 3.8% | |||
Amazon.com, Inc. (a) | 69,378 | 10,767,466 | |
MercadoLibre, Inc. (a) | 1,027 | 1,758,029 | |
12,525,495 | |||
Hotels, Restaurants & Leisure - 3.2% | |||
Airbnb, Inc. Class A (a) | 2,247 | 323,883 | |
Booking Holdings, Inc. (a) | 1,173 | 4,114,262 | |
Carnival Corp. (a) | 29,175 | 483,722 | |
Chipotle Mexican Grill, Inc. (a) | 317 | 763,580 | |
Darden Restaurants, Inc. | 569 | 92,508 | |
Domino's Pizza, Inc. | 130 | 55,409 | |
Doordash, Inc. (a) | 8,823 | 919,357 | |
Draftkings Holdings, Inc. (a) | 14,189 | 554,080 | |
Expedia, Inc. (a) | 1,383 | 205,140 | |
Hilton Worldwide Holdings, Inc. | 2,481 | 473,772 | |
Hyatt Hotels Corp. Class A (b) | 431 | 55,327 | |
Las Vegas Sands Corp. | 1,451 | 70,983 | |
Marriott International, Inc. Class A | 3,423 | 820,596 | |
MGM Resorts International (a) | 1,495 | 64,838 | |
Royal Caribbean Cruises Ltd. (a) | 9,285 | 1,183,838 | |
Wynn Resorts Ltd. | 774 | 73,089 | |
10,254,384 | |||
Household Durables - 1.3% | |||
D.R. Horton, Inc. | 9,306 | 1,329,920 | |
Garmin Ltd. | 1,456 | 173,977 | |
Lennar Corp. Class A | 6,708 | 1,005,194 | |
NVR, Inc. (a) | 87 | 615,550 | |
PulteGroup, Inc. | 9,757 | 1,020,192 | |
4,144,833 | |||
Specialty Retail - 1.2% | |||
O'Reilly Automotive, Inc. (a) | 874 | 894,146 | |
Ross Stores, Inc. | 4,647 | 651,881 | |
TJX Companies, Inc. | 24,890 | 2,362,310 | |
3,908,337 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
Deckers Outdoor Corp. (a) | 939 | 707,752 | |
lululemon athletica, Inc. (a) | 1,128 | 511,909 | |
1,219,661 | |||
TOTAL CONSUMER DISCRETIONARY | 32,204,294 | ||
CONSUMER STAPLES - 1.1% | |||
Beverages - 0.2% | |||
Celsius Holdings, Inc. (a)(b) | 982 | 49,002 | |
Molson Coors Beverage Co. Class B | 1,750 | 108,133 | |
Monster Beverage Corp. | 5,624 | 309,432 | |
466,567 | |||
Consumer Staples Distribution & Retail - 0.8% | |||
Costco Wholesale Corp. | 3,876 | 2,693,355 | |
Food Products - 0.1% | |||
Bunge Global SA | 555 | 48,890 | |
Lamb Weston Holdings, Inc. | 512 | 52,449 | |
Mondelez International, Inc. | 3,823 | 287,757 | |
389,096 | |||
TOTAL CONSUMER STAPLES | 3,549,018 | ||
ENERGY - 1.6% | |||
Energy Equipment & Services - 0.4% | |||
Baker Hughes Co. Class A | 13,726 | 391,191 | |
Halliburton Co. | 3,934 | 140,247 | |
Schlumberger Ltd. | 15,786 | 768,778 | |
1,300,216 | |||
Oil, Gas & Consumable Fuels - 1.2% | |||
Exxon Mobil Corp. | 12,962 | 1,332,623 | |
Hess Corp. | 942 | 132,379 | |
Marathon Petroleum Corp. | 9,092 | 1,505,635 | |
Phillips 66 Co. | 6,046 | 872,498 | |
Targa Resources Corp. | 2,257 | 191,755 | |
4,034,890 | |||
TOTAL ENERGY | 5,335,106 | ||
FINANCIALS - 7.7% | |||
Banks - 1.6% | |||
First Citizens Bancshares, Inc. | 359 | 542,090 | |
JPMorgan Chase & Co. | 25,572 | 4,458,734 | |
5,000,824 | |||
Capital Markets - 1.4% | |||
Ameriprise Financial, Inc. | 335 | 129,588 | |
Ares Management Corp. | 4,683 | 568,891 | |
Blackstone, Inc. | 4,537 | 564,630 | |
Cboe Global Markets, Inc. | 3,198 | 587,952 | |
CME Group, Inc. | 3,660 | 753,374 | |
Coinbase Global, Inc. (a)(b) | 5,923 | 759,329 | |
KKR & Co. LP | 9,889 | 856,190 | |
Robinhood Markets, Inc. (a)(b) | 5,009 | 53,797 | |
Tradeweb Markets, Inc. Class A | 2,322 | 221,496 | |
4,495,247 | |||
Financial Services - 2.7% | |||
Apollo Global Management, Inc. | 12,239 | 1,228,796 | |
Berkshire Hathaway, Inc. Class B (a) | 11,467 | 4,400,347 | |
Fiserv, Inc. (a) | 2,337 | 331,550 | |
FleetCor Technologies, Inc. (a) | 575 | 166,710 | |
MasterCard, Inc. Class A | 3,200 | 1,437,536 | |
Toast, Inc. (a) | 1,116 | 19,831 | |
Visa, Inc. Class A | 4,706 | 1,285,962 | |
8,870,732 | |||
Insurance - 2.0% | |||
AFLAC, Inc. | 8,059 | 679,696 | |
American International Group, Inc. | 2,842 | 197,547 | |
Arch Capital Group Ltd. (a) | 11,912 | 981,906 | |
Arthur J. Gallagher & Co. | 5,136 | 1,192,374 | |
Assurant, Inc. | 947 | 159,049 | |
Brown & Brown, Inc. | 2,919 | 226,398 | |
Erie Indemnity Co. Class A | 657 | 227,210 | |
Everest Re Group Ltd. | 681 | 262,165 | |
Fidelity National Financial, Inc. | 2,785 | 139,334 | |
Loews Corp. | 1,827 | 133,115 | |
Markel Group, Inc. (a) | 117 | 175,199 | |
Marsh & McLennan Companies, Inc. | 5,692 | 1,103,337 | |
Progressive Corp. | 6,150 | 1,096,238 | |
6,573,568 | |||
TOTAL FINANCIALS | 24,940,371 | ||
HEALTH CARE - 9.0% | |||
Biotechnology - 1.3% | |||
Amgen, Inc. | 2,845 | 894,070 | |
Exact Sciences Corp. (a) | 3,750 | 245,250 | |
Neurocrine Biosciences, Inc. (a) | 509 | 71,143 | |
Regeneron Pharmaceuticals, Inc. (a) | 364 | 343,172 | |
Vertex Pharmaceuticals, Inc. (a) | 5,807 | 2,516,638 | |
4,070,273 | |||
Health Care Equipment & Supplies - 1.4% | |||
Align Technology, Inc. (a) | 336 | 89,820 | |
Boston Scientific Corp. (a) | 20,989 | 1,327,764 | |
IDEXX Laboratories, Inc. (a) | 648 | 333,772 | |
Intuitive Surgical, Inc. (a) | 5,200 | 1,966,744 | |
STERIS PLC | 856 | 187,421 | |
Stryker Corp. | 2,191 | 735,037 | |
4,640,558 | |||
Health Care Providers & Services - 0.8% | |||
Cardinal Health, Inc. | 5,754 | 628,279 | |
Cencora, Inc. | 3,495 | 813,217 | |
DaVita, Inc. (a) | 178 | 19,252 | |
McKesson Corp. | 2,391 | 1,195,237 | |
Molina Healthcare, Inc. (a) | 225 | 80,199 | |
2,736,184 | |||
Life Sciences Tools & Services - 0.2% | |||
West Pharmaceutical Services, Inc. | 1,448 | 540,147 | |
Pharmaceuticals - 5.3% | |||
Eli Lilly & Co. | 25,451 | 16,431,420 | |
Merck & Co., Inc. | 6,970 | 841,837 | |
17,273,257 | |||
TOTAL HEALTH CARE | 29,260,419 | ||
INDUSTRIALS - 13.2% | |||
Aerospace & Defense - 1.1% | |||
Axon Enterprise, Inc. (a) | 1,637 | 407,711 | |
Howmet Aerospace, Inc. | 10,018 | 563,613 | |
Textron, Inc. | 748 | 63,363 | |
The Boeing Co. (a) | 3,361 | 709,305 | |
TransDigm Group, Inc. | 1,794 | 1,960,268 | |
3,704,260 | |||
Air Freight & Logistics - 0.4% | |||
Expeditors International of Washington, Inc. | 457 | 57,733 | |
FedEx Corp. | 5,784 | 1,395,621 | |
1,453,354 | |||
Building Products - 1.6% | |||
A.O. Smith Corp. | 1,463 | 113,543 | |
Builders FirstSource, Inc. (a) | 5,447 | 946,307 | |
Carlisle Companies, Inc. | 428 | 134,503 | |
Carrier Global Corp. | 20,134 | 1,101,531 | |
Lennox International, Inc. | 1,385 | 593,002 | |
Masco Corp. | 1,930 | 129,870 | |
Owens Corning | 3,229 | 489,290 | |
Trane Technologies PLC | 6,188 | 1,559,685 | |
5,067,731 | |||
Commercial Services & Supplies - 0.6% | |||
Cintas Corp. | 940 | 568,296 | |
Copart, Inc. | 29,050 | 1,395,562 | |
1,963,858 | |||
Construction & Engineering - 0.2% | |||
Quanta Services, Inc. | 3,304 | 641,141 | |
Electrical Equipment - 1.7% | |||
AMETEK, Inc. | 2,575 | 417,279 | |
Eaton Corp. PLC | 15,427 | 3,796,276 | |
Emerson Electric Co. | 2,137 | 196,027 | |
Hubbell, Inc. Class B | 953 | 319,798 | |
Rockwell Automation, Inc. | 873 | 221,113 | |
Vertiv Holdings Co. | 9,866 | 555,752 | |
5,506,245 | |||
Ground Transportation - 1.7% | |||
Old Dominion Freight Lines, Inc. | 2,834 | 1,108,151 | |
U-Haul Holding Co. (non-vtg.) | 572 | 36,534 | |
Uber Technologies, Inc. (a) | 68,082 | 4,443,712 | |
5,588,397 | |||
Industrial Conglomerates - 1.9% | |||
General Electric Co. | 46,729 | 6,187,854 | |
Machinery - 2.3% | |||
Caterpillar, Inc. | 6,811 | 2,045,411 | |
Illinois Tool Works, Inc. | 887 | 231,418 | |
Ingersoll Rand, Inc. | 10,931 | 872,950 | |
PACCAR, Inc. | 16,341 | 1,640,473 | |
Parker Hannifin Corp. | 4,181 | 1,942,075 | |
Pentair PLC | 4,944 | 361,752 | |
Snap-On, Inc. | 499 | 144,675 | |
Westinghouse Air Brake Tech Co. | 1,205 | 158,542 | |
7,397,296 | |||
Passenger Airlines - 0.0% | |||
Delta Air Lines, Inc. | 734 | 28,729 | |
Professional Services - 0.6% | |||
Booz Allen Hamilton Holding Corp. Class A | 2,895 | 407,529 | |
Broadridge Financial Solutions, Inc. | 3,012 | 615,050 | |
Jacobs Solutions, Inc. | 1,126 | 151,751 | |
Leidos Holdings, Inc. | 508 | 56,119 | |
Verisk Analytics, Inc. | 3,513 | 848,495 | |
2,078,944 | |||
Trading Companies & Distributors - 1.1% | |||
Fastenal Co. | 2,813 | 191,931 | |
Ferguson PLC | 4,248 | 798,029 | |
United Rentals, Inc. | 1,817 | 1,136,352 | |
W.W. Grainger, Inc. | 1,116 | 999,534 | |
Watsco, Inc. | 979 | 382,769 | |
3,508,615 | |||
TOTAL INDUSTRIALS | 43,126,424 | ||
INFORMATION TECHNOLOGY - 40.8% | |||
Communications Equipment - 0.9% | |||
Arista Networks, Inc. (a) | 7,103 | 1,837,404 | |
Cisco Systems, Inc. | 15,526 | 779,095 | |
Motorola Solutions, Inc. | 1,214 | 387,873 | |
3,004,372 | |||
Electronic Equipment, Instruments & Components - 0.5% | |||
Amphenol Corp. Class A | 4,555 | 460,511 | |
CDW Corp. | 1,784 | 404,468 | |
Jabil, Inc. | 5,929 | 742,844 | |
1,607,823 | |||
IT Services - 0.7% | |||
Akamai Technologies, Inc. (a) | 3,979 | 490,332 | |
Cloudflare, Inc. (a) | 794 | 62,766 | |
Gartner, Inc. (a) | 1,222 | 558,992 | |
GoDaddy, Inc. (a) | 1,529 | 163,083 | |
MongoDB, Inc. Class A (a) | 2,167 | 867,927 | |
Snowflake, Inc. (a) | 752 | 147,121 | |
2,290,221 | |||
Semiconductors & Semiconductor Equipment - 16.6% | |||
Advanced Micro Devices, Inc. (a) | 38,188 | 6,403,746 | |
Applied Materials, Inc. | 22,624 | 3,717,123 | |
Broadcom, Inc. | 13,277 | 15,666,860 | |
Entegris, Inc. | 662 | 77,917 | |
First Solar, Inc. (a) | 866 | 126,696 | |
Intel Corp. | 97,206 | 4,187,634 | |
KLA Corp. | 3,695 | 2,194,978 | |
Lam Research Corp. | 3,817 | 3,149,674 | |
Lattice Semiconductor Corp. (a) | 547 | 33,290 | |
Marvell Technology, Inc. | 3,951 | 267,483 | |
Microchip Technology, Inc. | 2,482 | 211,417 | |
Micron Technology, Inc. | 6,950 | 595,963 | |
Monolithic Power Systems, Inc. | 539 | 324,866 | |
NVIDIA Corp. | 27,031 | 16,631,366 | |
ON Semiconductor Corp. (a) | 5,811 | 413,336 | |
54,002,349 | |||
Software - 19.0% | |||
Adobe, Inc. (a) | 17,167 | 10,605,429 | |
ANSYS, Inc. (a) | 751 | 246,200 | |
Atlassian Corp. PLC (a) | 1,255 | 313,461 | |
Bentley Systems, Inc. Class B | 3,682 | 185,573 | |
Cadence Design Systems, Inc. (a) | 8,018 | 2,312,872 | |
Confluent, Inc. (a) | 2,482 | 55,498 | |
Crowdstrike Holdings, Inc. (a) | 4,693 | 1,372,703 | |
Datadog, Inc. Class A (a) | 1,132 | 140,866 | |
Dropbox, Inc. Class A (a) | 3,832 | 121,398 | |
Dynatrace, Inc. (a) | 1,980 | 112,860 | |
Fair Isaac Corp. (a) | 960 | 1,150,877 | |
Fortinet, Inc. (a) | 3,719 | 239,838 | |
HubSpot, Inc. (a) | 1,271 | 776,581 | |
Intuit, Inc. | 4,239 | 2,676,208 | |
Manhattan Associates, Inc. (a) | 2,032 | 492,882 | |
Microsoft Corp. | 40,337 | 16,037,184 | |
Oracle Corp. | 44,718 | 4,995,001 | |
Palantir Technologies, Inc. (a) | 77,174 | 1,241,730 | |
Palo Alto Networks, Inc. (a) | 8,879 | 3,005,630 | |
PTC, Inc. (a) | 1,584 | 286,150 | |
Roper Technologies, Inc. | 844 | 453,228 | |
Salesforce, Inc. (a) | 18,825 | 5,291,519 | |
ServiceNow, Inc. (a) | 5,953 | 4,556,426 | |
Splunk, Inc. (a) | 4,420 | 677,895 | |
Synopsys, Inc. (a) | 4,643 | 2,476,344 | |
UiPath, Inc. Class A (a) | 4,506 | 103,548 | |
Workday, Inc. Class A (a) | 5,170 | 1,504,832 | |
Zscaler, Inc. (a) | 1,469 | 346,199 | |
61,778,932 | |||
Technology Hardware, Storage & Peripherals - 3.1% | |||
Apple, Inc. | 39,806 | 7,340,226 | |
Dell Technologies, Inc. | 9,691 | 803,190 | |
Hewlett Packard Enterprise Co. | 4,720 | 72,169 | |
NetApp, Inc. | 1,076 | 93,827 | |
Seagate Technology Holdings PLC | 3,224 | 276,232 | |
Super Micro Computer, Inc. (a) | 2,359 | 1,249,350 | |
Western Digital Corp. (a) | 3,051 | 174,670 | |
10,009,664 | |||
TOTAL INFORMATION TECHNOLOGY | 132,693,361 | ||
MATERIALS - 2.2% | |||
Chemicals - 1.4% | |||
Celanese Corp. Class A | 1,454 | 212,706 | |
DuPont de Nemours, Inc. | 3,028 | 187,130 | |
Linde PLC | 10,489 | 4,246,262 | |
Westlake Corp. | 163 | 22,551 | |
4,668,649 | |||
Construction Materials - 0.5% | |||
Martin Marietta Materials, Inc. | 1,580 | 803,304 | |
Vulcan Materials Co. | 2,814 | 635,992 | |
1,439,296 | |||
Containers & Packaging - 0.1% | |||
Packaging Corp. of America | 1,825 | 302,731 | |
WestRock Co. | 2,537 | 102,140 | |
404,871 | |||
Metals & Mining - 0.2% | |||
Nucor Corp. | 738 | 137,954 | |
Reliance Steel & Aluminum Co. | 1,319 | 376,469 | |
Steel Dynamics, Inc. | 448 | 54,069 | |
568,492 | |||
TOTAL MATERIALS | 7,081,308 | ||
REAL ESTATE - 0.4% | |||
Equity Real Estate Investment Trusts (REITs) - 0.4% | |||
Digital Realty Trust, Inc. | 4,415 | 620,131 | |
Iron Mountain, Inc. | 2,566 | 173,256 | |
Welltower, Inc. | 4,839 | 418,622 | |
1,212,009 | |||
Real Estate Management & Development - 0.0% | |||
Zillow Group, Inc. Class C (a) | 607 | 34,502 | |
TOTAL REAL ESTATE | 1,246,511 | ||
UTILITIES - 0.7% | |||
Electric Utilities - 0.6% | |||
Constellation Energy Corp. | 12,453 | 1,519,266 | |
NRG Energy, Inc. | 2,538 | 134,616 | |
PG&E Corp. | 10,661 | 179,851 | |
1,833,733 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
Vistra Corp. | 10,545 | 432,661 | |
TOTAL UTILITIES | 2,266,394 | ||
TOTAL COMMON STOCKS (Cost $246,380,126) | 323,469,694 | ||
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.42% 2/22/24 (d) (Cost $299,073) | 300,000 | 299,079 | |
Money Market Funds - 0.4% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 261,309 | 261,361 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 910,859 | 910,950 | |
TOTAL MONEY MARKET FUNDS (Cost $1,172,311) | 1,172,311 | ||
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $247,851,510) | 324,941,084 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 314,658 |
NET ASSETS - 100.0% | 325,255,742 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 5 | Mar 2024 | 1,217,625 | (202) | (202) |
The notional amount of futures purchased as a percentage of Net Assets is 0.4% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $85,736. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 1,483,312 | 15,058,959 | 16,280,910 | 11,086 | - | - | 261,361 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 690,275 | 11,514,336 | 11,293,661 | 535 | - | - | 910,950 | 0.0% |
Total | 2,173,587 | 26,573,295 | 27,574,571 | 11,621 | - | - | 1,172,311 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 41,766,488 | 41,766,488 | - | - |
Consumer Discretionary | 32,204,294 | 32,204,294 | - | - |
Consumer Staples | 3,549,018 | 3,549,018 | - | - |
Energy | 5,335,106 | 5,335,106 | - | - |
Financials | 24,940,371 | 24,940,371 | - | - |
Health Care | 29,260,419 | 29,260,419 | - | - |
Industrials | 43,126,424 | 43,126,424 | - | - |
Information Technology | 132,693,361 | 132,693,361 | - | - |
Materials | 7,081,308 | 7,081,308 | - | - |
Real Estate | 1,246,511 | 1,246,511 | - | - |
Utilities | 2,266,394 | 2,266,394 | - | - |
U.S. Government and Government Agency Obligations | 299,079 | - | 299,079 | - |
Money Market Funds | 1,172,311 | 1,172,311 | - | - |
Total Investments in Securities: | 324,941,084 | 324,642,005 | 299,079 | - |
Derivative Instruments: Liabilities | ||||
Futures Contracts | (202) | (202) | - | - |
Total Liabilities | (202) | (202) | - | - |
Total Derivative Instruments: | (202) | (202) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 0 | (202) |
Total Equity Risk | 0 | (202) |
Total Value of Derivatives | 0 | (202) |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $874,550) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $246,679,199) | $ | 323,768,773 | ||
Fidelity Central Funds (cost $1,172,311) | 1,172,311 | |||
Total Investment in Securities (cost $247,851,510) | $ | 324,941,084 | ||
Receivable for investments sold | 21,607,345 | |||
Receivable for fund shares sold | 488,507 | |||
Dividends receivable | 35,724 | |||
Distributions receivable from Fidelity Central Funds | 954 | |||
Prepaid expenses | 244 | |||
Other receivables | 2,499 | |||
Total assets | 347,076,357 | |||
Liabilities | ||||
Payable for investments purchased | $ | 20,608,905 | ||
Payable for fund shares redeemed | 213,982 | |||
Accrued management fee | 26,682 | |||
Payable for daily variation margin on futures contracts | 14,792 | |||
Other payables and accrued expenses | 45,304 | |||
Collateral on securities loaned | 910,950 | |||
Total Liabilities | 21,820,615 | |||
Net Assets | $ | 325,255,742 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 239,132,920 | ||
Total accumulated earnings (loss) | 86,122,822 | |||
Net Assets | $ | 325,255,742 | ||
Net Asset Value, offering price and redemption price per share ($325,255,742 ÷ 23,259,872 shares) | $ | 13.98 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 1,528,518 | ||
Non-Cash dividends | 84,231 | |||
Interest | 7,824 | |||
Income from Fidelity Central Funds (including $535 from security lending) | 11,621 | |||
Total Income | 1,632,194 | |||
Expenses | ||||
Management fee | $ | 157,807 | ||
Custodian fees and expenses | 13,094 | |||
Independent trustees' fees and expenses | 529 | |||
Registration fees | 22,016 | |||
Audit | 29,864 | |||
Legal | 3,274 | |||
Interest | 7,275 | |||
Miscellaneous | 5,449 | |||
Total Expenses | 239,308 | |||
Net Investment income (loss) | 1,392,886 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 18,825,708 | |||
Futures contracts | 43,912 | |||
Total net realized gain (loss) | 18,869,620 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 24,971,544 | |||
Futures contracts | (30,881) | |||
Total change in net unrealized appreciation (depreciation) | 24,940,663 | |||
Net gain (loss) | 43,810,283 | |||
Net increase (decrease) in net assets resulting from operations | $ | 45,203,169 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 1,392,886 | $ | 36,071,724 |
Net realized gain (loss) | 18,869,620 | 250,894,815 | ||
Change in net unrealized appreciation (depreciation) | 24,940,663 | (238,747,543) | ||
Net increase (decrease) in net assets resulting from operations | 45,203,169 | 48,218,996 | ||
Distributions to shareholders | (55,039,241) | (61,615,588) | ||
Share transactions | ||||
Proceeds from sales of shares | 21,444,185 | 56,880,947 | ||
Reinvestment of distributions | 50,595,189 | 60,451,730 | ||
Cost of shares redeemed | (71,857,648) | (4,293,261,374) | ||
Net increase (decrease) in net assets resulting from share transactions | 181,726 | (4,175,928,697) | ||
Total increase (decrease) in net assets | (9,654,346) | (4,189,325,289) | ||
Net Assets | ||||
Beginning of period | 334,910,088 | 4,524,235,377 | ||
End of period | $ | 325,255,742 | $ | 334,910,088 |
Other Information | ||||
Shares | ||||
Sold | 1,642,031 | 4,142,276 | ||
Issued in reinvestment of distributions | 4,023,283 | 4,354,609 | ||
Redeemed | (5,527,954) | (309,624,256) | ||
Net increase (decrease) | 137,360 | (301,127,371) | ||
Fidelity® SAI U.S. Momentum Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 14.48 | $ | 13.95 | $ | 19.05 | $ | 15.74 | $ | 13.77 | $ | 13.31 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .06 | .30 | .19 | .10 | .19 | .20 | ||||||
Net realized and unrealized gain (loss) | 1.85 | .52 C | (1.81) | 4.66 | 2.07 | .71 D | ||||||
Total from investment operations | 1.91 | .82 | (1.62) | 4.76 | 2.26 | .91 | ||||||
Distributions from net investment income | (.11) | (.29) | (.10) | (.18) | (.22) | (.12) | ||||||
Distributions from net realized gain | (2.30) | - | (3.38) | (1.27) | (.08) | (.33) | ||||||
Total distributions | (2.41) | (.29) | (3.48) | (1.45) | (.29) E | (.45) | ||||||
Net asset value, end of period | $ | 13.98 | $ | 14.48 | $ | 13.95 | $ | 19.05 | $ | 15.74 | $ | 13.77 |
Total Return F,G | 15.57% | 5.99% C | (11.06)% | 32.98% | 16.76% | 6.94% D | ||||||
Ratios to Average Net Assets B,H,I | ||||||||||||
Expenses before reductions | .15% J,K | .11% | .11% | .11% | .11% | .21% | ||||||
Expenses net of fee waivers, if any | .15% J,K | .11% | .11% | .11% | .11% | .15% | ||||||
Expenses net of all reductions | .15% J,K | .11% | .11% | .11% | .11% | .15% | ||||||
Net investment income (loss) | .88% J,K | 2.15% | 1.25% | .58% | 1.36% | 1.54% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 325,256 | $ | 334,910 | $ | 4,524,235 | $ | 2,908,860 | $ | 1,798,387 | $ | 3,655,491 |
Portfolio turnover rate L | 101% J | 85% | 138% | 128% | 163% | 161% |
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 | $77,833,570 |
Gross unrealized depreciation | (1,015,453) |
Net unrealized appreciation (depreciation) | $76,818,117 |
Tax cost | $248,122,765 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity SAI U.S. Momentum Index Fund | 159,100,244 | 211,384,689 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI U.S. Momentum Index Fund | Borrower | $ 11,765,250 | 5.57% | $7,275 |
Amount | |
Fidelity SAI U.S. Momentum Index Fund | $254 |
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 SAI U.S. Momentum Index Fund | $45 | $- | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® SAI U.S. Momentum Index Fund | .15% | |||||||||
Actual | $ 1,000 | $ 1,155.70 | $ .81 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.38 | $ .76 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Contents
Top Holdings (% of Fund's net assets) | ||
Prologis, Inc. | 8.8 | |
American Tower Corp. | 6.9 | |
Equinix, Inc. | 5.9 | |
Crown Castle, Inc. | 3.5 | |
Simon Property Group, Inc. | 3.4 | |
Realty Income Corp. | 3.4 | |
Welltower, Inc. | 3.4 | |
Public Storage | 3.4 | |
Digital Realty Trust, Inc. | 3.2 | |
CoStar Group, Inc. | 2.6 | |
44.5 | ||
Top REIT Sectors (% of Fund's net assets) | ||
REITs - Diversified | 22.3 | |
REITs - Warehouse/Industrial | 11.8 | |
REITs - Apartments | 10.2 | |
REITs - Management/Investment | 10.1 | |
REITs - Storage | 8.1 | |
Asset Allocation (% of Fund's net assets) |
Futures - 0.2% |
Common Stocks - 99.8% | |||
Shares | Value ($) | ||
Equity Real Estate Investment Trusts (REITs) - 92.2% | |||
REITs - Apartments - 10.2% | |||
American Homes 4 Rent Class A | 611,251 | 21,424,348 | |
Apartment Investment & Management Co. Class A (a) | 247,410 | 1,838,256 | |
AvalonBay Communities, Inc. | 266,453 | 47,697,752 | |
Camden Property Trust (SBI) | 200,561 | 18,820,644 | |
Centerspace | 28,704 | 1,571,831 | |
Equity Residential (SBI) | 674,776 | 40,614,767 | |
Essex Property Trust, Inc. | 120,412 | 28,088,507 | |
Independence Realty Trust, Inc. | 427,407 | 6,278,609 | |
Invitation Homes, Inc. | 1,150,857 | 37,897,721 | |
Mid-America Apartment Communities, Inc. | 218,610 | 27,627,932 | |
UDR, Inc. | 588,584 | 21,200,796 | |
253,061,163 | |||
REITs - Diversified - 22.3% | |||
Alexander & Baldwin, Inc. | 137,111 | 2,374,763 | |
Apartment Income (REIT) Corp. | 281,789 | 9,211,682 | |
Apple Hospitality (REIT), Inc. | 413,025 | 6,633,182 | |
Armada Hoffler Properties, Inc. | 132,040 | 1,579,198 | |
Broadstone Net Lease, Inc. | 353,721 | 5,684,296 | |
Cousins Properties, Inc. | 290,397 | 6,652,995 | |
Crown Castle, Inc. | 812,258 | 87,926,929 | |
Digital Realty Trust, Inc. | 567,509 | 79,712,314 | |
Elme Communities (SBI) | 163,213 | 2,363,324 | |
EPR Properties | 142,287 | 6,299,045 | |
Equinix, Inc. | 175,331 | 145,484,404 | |
Farmland Partners, Inc. | 87,676 | 983,725 | |
Gaming & Leisure Properties | 491,656 | 22,444,096 | |
Gladstone Commercial Corp. | 77,123 | 988,717 | |
Gladstone Land Corp. | 63,202 | 894,940 | |
Global Net Lease, Inc. | 373,452 | 3,155,669 | |
InvenTrust Properties Corp. | 126,952 | 3,152,218 | |
Lamar Advertising Co. Class A | 164,440 | 17,213,579 | |
NexPoint Diversified Real Estate Trust | 68,543 | 472,947 | |
NexPoint Residential Trust, Inc. | 43,742 | 1,336,318 | |
One Liberty Properties, Inc. | 33,450 | 677,028 | |
Outfront Media, Inc. | 281,470 | 3,664,739 | |
Potlatch Corp. | 149,969 | 6,708,113 | |
SBA Communications Corp. Class A | 202,795 | 45,397,689 | |
Uniti Group, Inc. | 463,659 | 2,438,846 | |
VICI Properties, Inc. | 1,904,629 | 57,367,425 | |
Vornado Realty Trust | 305,293 | 8,300,917 | |
WP Carey, Inc. | 400,776 | 24,832,081 | |
553,951,179 | |||
REITs - Health Care - 7.0% | |||
CareTrust (REIT), Inc. | 187,604 | 3,924,676 | |
Community Healthcare Trust, Inc. | 47,482 | 1,215,064 | |
Diversified Healthcare Trust (SBI) | 319,572 | 917,172 | |
Global Medical REIT, Inc. | 123,647 | 1,250,071 | |
Healthcare Trust of America, Inc. | 711,339 | 11,459,671 | |
Healthpeak Properties, Inc. | 1,025,793 | 18,977,171 | |
LTC Properties, Inc. | 76,151 | 2,373,627 | |
Medical Properties Trust, Inc. (b) | 1,134,944 | 3,518,326 | |
Physicians Realty Trust | 450,923 | 5,519,298 | |
Sabra Health Care REIT, Inc. | 435,533 | 5,810,010 | |
Universal Health Realty Income Trust (SBI) | 25,041 | 996,882 | |
Ventas, Inc. | 751,772 | 34,874,703 | |
Welltower, Inc. | 971,566 | 84,050,175 | |
174,886,846 | |||
REITs - Health Care Facilities - 0.7% | |||
National Health Investors, Inc. (b) | 80,797 | 4,296,784 | |
Omega Healthcare Investors, Inc. | 458,886 | 13,307,694 | |
17,604,478 | |||
REITs - Hotels - 2.6% | |||
Chatham Lodging Trust | 93,147 | 978,044 | |
DiamondRock Hospitality Co. | 402,810 | 3,681,683 | |
Host Hotels & Resorts, Inc. | 1,337,412 | 25,705,059 | |
Park Hotels & Resorts, Inc. | 410,308 | 6,187,445 | |
Pebblebrook Hotel Trust | 229,519 | 3,493,279 | |
RLJ Lodging Trust | 298,668 | 3,458,575 | |
Ryman Hospitality Properties, Inc. | 106,411 | 11,694,569 | |
Service Properties Trust | 314,655 | 2,432,283 | |
Summit Hotel Properties, Inc. | 207,397 | 1,343,933 | |
Sunstone Hotel Investors, Inc. | 374,433 | 3,995,200 | |
Xenia Hotels & Resorts, Inc. | 203,609 | 2,714,108 | |
65,684,178 | |||
REITs - Industrial Buildings - 0.5% | |||
Stag Industrial, Inc. | 338,979 | 12,521,884 | |
REITs - Management/Investment - 10.1% | |||
American Assets Trust, Inc. | 93,797 | 2,103,867 | |
American Tower Corp. | 872,901 | 170,783,081 | |
Empire State Realty Trust, Inc. | 258,250 | 2,458,540 | |
LXP Industrial Trust (REIT) | 552,252 | 5,019,971 | |
NNN (REIT), Inc. | 340,438 | 13,733,269 | |
Rayonier, Inc. | 264,871 | 8,025,591 | |
Safehold, Inc. | 87,326 | 1,734,294 | |
UMH Properties, Inc. | 117,104 | 1,769,441 | |
Weyerhaeuser Co. | 1,369,705 | 44,885,233 | |
Whitestone REIT Class B | 88,746 | 1,146,598 | |
251,659,885 | |||
REITs - Manufactured Homes - 2.1% | |||
Equity Lifestyle Properties, Inc. | 330,668 | 22,382,917 | |
Sun Communities, Inc. | 232,959 | 29,201,411 | |
51,584,328 | |||
REITs - Office - 0.1% | |||
Net Lease Office Properties | 27,598 | 683,878 | |
Peakstone Realty Trust | 68,038 | 985,190 | |
1,669,068 | |||
REITs - Office Buildings - 0.0% | |||
Office Properties Income Trust | 102,082 | 374,641 | |
REITs - Office Property - 4.1% | |||
Alexandria Real Estate Equities, Inc. | 308,581 | 37,307,443 | |
Boston Properties, Inc. | 280,588 | 18,659,102 | |
Brandywine Realty Trust (SBI) | 338,892 | 1,606,348 | |
City Office REIT, Inc. | 74,055 | 388,789 | |
COPT Defense Properties (SBI) | 210,741 | 4,965,058 | |
Douglas Emmett, Inc. | 318,720 | 4,318,656 | |
Easterly Government Properties, Inc. | 183,140 | 2,248,959 | |
Equity Commonwealth | 192,621 | 3,680,987 | |
Franklin Street Properties Corp. | 156,575 | 385,175 | |
Highwoods Properties, Inc. (SBI) | 201,458 | 4,627,490 | |
Hudson Pacific Properties, Inc. | 243,104 | 1,991,022 | |
JBG SMITH Properties | 185,068 | 2,961,088 | |
Kilroy Realty Corp. | 211,362 | 7,558,305 | |
Orion Office (REIT), Inc. | 106,878 | 549,353 | |
Paramount Group, Inc. | 305,533 | 1,451,282 | |
Piedmont Office Realty Trust, Inc. Class A | 238,479 | 1,621,657 | |
SL Green Realty Corp. | 122,813 | 5,520,444 | |
Veris Residential, Inc. | 136,889 | 2,087,557 | |
101,928,715 | |||
REITs - Regional Malls - 3.9% | |||
CBL & Associates Properties, Inc. | 18,516 | 432,904 | |
Simon Property Group, Inc. | 612,595 | 84,911,793 | |
Tanger, Inc. | 200,503 | 5,393,531 | |
The Macerich Co. | 409,043 | 6,458,789 | |
97,197,017 | |||
REITs - Shopping Centers - 7.6% | |||
Acadia Realty Trust (SBI) | 180,279 | 3,075,560 | |
Alexanders, Inc. | 4,308 | 946,855 | |
Brixmor Property Group, Inc. | 564,461 | 12,666,505 | |
Federal Realty Investment Trust (SBI) | 137,561 | 13,994,081 | |
Kimco Realty Corp. | 1,261,453 | 25,481,351 | |
Kite Realty Group Trust | 416,784 | 8,919,178 | |
Phillips Edison & Co., Inc. | 221,221 | 7,678,581 | |
Realty Income Corp. | 1,559,294 | 84,810,001 | |
Regency Centers Corp. | 312,346 | 19,574,724 | |
Retail Opportunity Investments Corp. | 240,681 | 3,270,855 | |
Saul Centers, Inc. | 23,408 | 895,590 | |
SITE Centers Corp. | 359,317 | 4,786,102 | |
Urban Edge Properties | 223,135 | 3,853,541 | |
189,952,924 | |||
REITs - Single Tenant - 1.1% | |||
Agree Realty Corp. | 180,136 | 10,737,907 | |
Essential Properties Realty Trust, Inc. | 296,653 | 7,389,626 | |
Four Corners Property Trust, Inc. | 169,396 | 3,965,560 | |
Getty Realty Corp. | 89,115 | 2,464,921 | |
NETSTREIT Corp. | 132,618 | 2,409,669 | |
26,967,683 | |||
REITs - Storage - 8.1% | |||
CubeSmart | 421,983 | 18,238,105 | |
Extra Space Storage, Inc. | 396,194 | 57,226,261 | |
Iron Mountain, Inc. | 545,920 | 36,860,518 | |
National Storage Affiliates Trust | 160,773 | 6,004,872 | |
Public Storage | 296,630 | 84,002,650 | |
202,332,406 | |||
REITs - Warehouse/Industrial - 11.8% | |||
Americold Realty Trust | 507,106 | 13,945,415 | |
EastGroup Properties, Inc. | 85,487 | 15,167,958 | |
First Industrial Realty Trust, Inc. | 248,488 | 12,802,102 | |
Industrial Logistics Properties Trust | 105,004 | 417,916 | |
Plymouth Industrial REIT, Inc. | 79,030 | 1,749,724 | |
Prologis, Inc. | 1,732,142 | 219,445,070 | |
Rexford Industrial Realty, Inc. | 389,698 | 20,494,218 | |
Terreno Realty Corp. | 158,779 | 9,483,870 | |
293,506,273 | |||
TOTAL EQUITY REAL ESTATE INVESTMENT TRUSTS (REITS) | 2,294,882,668 | ||
Real Estate Management & Development - 7.6% | |||
Diversified Real Estate Activities - 0.2% | |||
The RMR Group, Inc. | 30,317 | 790,971 | |
The St. Joe Co. | 66,670 | 3,680,184 | |
4,471,155 | |||
Real Estate Development - 0.3% | |||
Forestar Group, Inc. (a) | 38,368 | 1,199,384 | |
Howard Hughes Holdings, Inc. (b) | 64,357 | 5,153,709 | |
6,353,093 | |||
Real Estate Operating Companies - 0.3% | |||
Digitalbridge Group, Inc. | 307,928 | 6,047,706 | |
Kennedy-Wilson Holdings, Inc. | 203,353 | 2,125,039 | |
8,172,745 | |||
Real Estate Services - 6.8% | |||
Anywhere Real Estate, Inc. (a) | 190,409 | 1,355,712 | |
CBRE Group, Inc. (a) | 579,882 | 50,049,615 | |
Compass, Inc. (a) | 661,100 | 2,274,184 | |
CoStar Group, Inc. (a) | 765,210 | 63,879,731 | |
Cushman & Wakefield PLC (a) | 300,981 | 3,166,320 | |
Doma Holdings, Inc. Class A (a)(b) | 13,071 | 54,245 | |
eXp World Holdings, Inc. (b) | 146,890 | 1,818,498 | |
Jones Lang LaSalle, Inc. (a) | 89,151 | 15,785,076 | |
Marcus & Millichap, Inc. | 47,093 | 1,793,772 | |
Newmark Group, Inc. | 274,712 | 2,788,327 | |
Offerpad Solutions, Inc. (a)(b) | 19,883 | 185,310 | |
Opendoor Technologies, Inc. (a)(b) | 996,567 | 3,408,259 | |
Redfin Corp. (a)(b) | 216,999 | 1,770,712 | |
Zillow Group, Inc.: | |||
Class A (a) | 112,175 | 6,179,721 | |
Class C (a) | 281,632 | 16,007,963 | |
170,517,445 | |||
REITs - Shopping Centers - 0.0% | |||
Seritage Growth Properties (a)(b) | 65,774 | 601,832 | |
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT | 190,116,270 | ||
TOTAL COMMON STOCKS (Cost $2,353,649,758) | 2,484,998,938 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.43% 2/22/24 (d) (Cost $598,145) | 600,000 | 598,159 | |
Money Market Funds - 0.6% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (e) | 1,319,951 | 1,320,215 | |
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 13,740,348 | 13,741,722 | |
TOTAL MONEY MARKET FUNDS (Cost $15,061,937) | 15,061,937 | ||
TOTAL INVESTMENT IN SECURITIES - 100.4% (Cost $2,369,309,840) | 2,500,659,034 |
NET OTHER ASSETS (LIABILITIES) - (0.4)% | (10,089,070) |
NET ASSETS - 100.0% | 2,490,569,964 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CBOT Dow Jones U.S. Real Estate Index Contracts (United States) | 123 | Mar 2024 | 4,138,950 | (53,741) | (53,741) |
CME E-mini S&P MidCap 400 Index Contracts (United States) | 4 | Mar 2024 | 1,097,320 | 9,524 | 9,524 |
TOTAL FUTURES CONTRACTS | (44,217) | ||||
The notional amount of futures purchased as a percentage of Net Assets is 0.2% |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Amount is stated in United States dollars unless otherwise noted. |
(d) | Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $378,834. |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Investment made with cash collateral received from securities on loan. |
Affiliate | Value, beginning of period ($) | 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% | 6,169,355 | 101,597,403 | 106,446,543 | 145,994 | - | - | 1,320,215 | 0.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 22,663,855 | 51,134,719 | 60,056,852 | 41,351 | - | - | 13,741,722 | 0.1% |
Total | 28,833,210 | 152,732,122 | 166,503,395 | 187,345 | - | - | 15,061,937 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Common Stocks | 2,484,998,938 | 2,484,998,938 | - | - |
U.S. Treasury Obligations | 598,159 | - | 598,159 | - |
Money Market Funds | 15,061,937 | 15,061,937 | - | - |
Total Investments in Securities: | 2,500,659,034 | 2,500,060,875 | 598,159 | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 9,524 | 9,524 | - | - |
Total Assets | 9,524 | 9,524 | - | - |
Liabilities | ||||
Futures Contracts | (53,741) | (53,741) | - | - |
Total Liabilities | (53,741) | (53,741) | - | - |
Total Derivative Instruments: | (44,217) | (44,217) | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 9,524 | (53,741) |
Total Equity Risk | 9,524 | (53,741) |
Total Value of Derivatives | 9,524 | (53,741) |
Statement of Assets and Liabilities | ||||
January 31, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $12,976,654) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $2,354,247,903) | $ | 2,485,597,097 | ||
Fidelity Central Funds (cost $15,061,937) | 15,061,937 | |||
Total Investment in Securities (cost $2,369,309,840) | $ | 2,500,659,034 | ||
Receivable for fund shares sold | 2,991,689 | |||
Dividends receivable | 2,422,724 | |||
Distributions receivable from Fidelity Central Funds | 20,142 | |||
Other receivables | 190,076 | |||
Total assets | 2,506,283,665 | |||
Liabilities | ||||
Payable for fund shares redeemed | $ | 1,699,713 | ||
Accrued management fee | 149,375 | |||
Payable for daily variation margin on futures contracts | 37,883 | |||
Other payables and accrued expenses | 95,043 | |||
Collateral on securities loaned | 13,731,687 | |||
Total Liabilities | 15,713,701 | |||
Net Assets | $ | 2,490,569,964 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 2,567,932,417 | ||
Total accumulated earnings (loss) | (77,362,453) | |||
Net Assets | $ | 2,490,569,964 | ||
Net Asset Value, offering price and redemption price per share ($2,490,569,964 ÷ 165,937,145 shares) | $ | 15.01 |
Statement of Operations | ||||
Six months ended January 31, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 39,271,749 | ||
Interest | 19,944 | |||
Income from Fidelity Central Funds (including $41,351 from security lending) | 187,345 | |||
Total Income | 39,479,038 | |||
Expenses | ||||
Management fee | $ | 838,072 | ||
Independent trustees' fees and expenses | 3,949 | |||
Total expenses before reductions | 842,021 | |||
Expense reductions | (3,029) | |||
Total expenses after reductions | 838,992 | |||
Net Investment income (loss) | 38,640,046 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (6,028,688) | |||
Futures contracts | (1,323,281) | |||
Total net realized gain (loss) | (7,351,969) | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | (12,682,184) | |||
Futures contracts | (239,938) | |||
Total change in net unrealized appreciation (depreciation) | (12,922,122) | |||
Net gain (loss) | (20,274,091) | |||
Net increase (decrease) in net assets resulting from operations | $ | 18,365,955 |
Statement of Changes in Net Assets | ||||
Six months ended January 31, 2024 (Unaudited) | Year ended July 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 38,640,046 | $ | 79,921,540 |
Net realized gain (loss) | (7,351,969) | (24,549,785) | ||
Change in net unrealized appreciation (depreciation) | (12,922,122) | (328,285,515) | ||
Net increase (decrease) in net assets resulting from operations | 18,365,955 | (272,913,760) | ||
Distributions to shareholders | (59,622,097) | (75,151,288) | ||
Share transactions | ||||
Proceeds from sales of shares | 283,299,740 | 636,858,558 | ||
Reinvestment of distributions | 52,173,265 | 65,771,963 | ||
Cost of shares redeemed | (292,399,431) | (739,809,748) | ||
Net increase (decrease) in net assets resulting from share transactions | 43,073,574 | (37,179,227) | ||
Total increase (decrease) in net assets | 1,817,432 | (385,244,275) | ||
Net Assets | ||||
Beginning of period | 2,488,752,532 | 2,873,996,807 | ||
End of period | $ | 2,490,569,964 | $ | 2,488,752,532 |
Other Information | ||||
Shares | ||||
Sold | 19,549,409 | 42,354,093 | ||
Issued in reinvestment of distributions | 3,435,008 | 4,300,329 | ||
Redeemed | (20,017,428) | (48,594,088) | ||
Net increase (decrease) | 2,966,989 | (1,939,666) | ||
Fidelity® Real Estate Index Fund |
Six months ended (Unaudited) January 31, 2024 | Years ended July 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 15.27 | $ | 17.43 | $ | 18.44 | $ | 13.58 | $ | 16.82 | $ | 15.76 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .23 | .49 | .44 | .39 | .51 | .53 | ||||||
Net realized and unrealized gain (loss) | (.13) | (2.18) | (1.19) | 4.88 | (3.15) | 1.13 | ||||||
Total from investment operations | .10 | (1.69) | (.75) | 5.27 | (2.64) | 1.66 | ||||||
Distributions from net investment income | (.36) | (.47) | (.26) | (.41) | (.47) | (.50) | ||||||
Distributions from net realized gain | - | - | - | - | (.13) | (.10) | ||||||
Total distributions | (.36) | (.47) | (.26) | (.41) | (.60) | (.60) | ||||||
Net asset value, end of period | $ | 15.01 | $ | 15.27 | $ | 17.43 | $ | 18.44 | $ | 13.58 | $ | 16.82 |
Total Return C,D | .65% | (9.70)% | (4.21)% | 39.73% | (16.34)% | 10.84% | ||||||
Ratios to Average Net Assets B,E,F | ||||||||||||
Expenses before reductions | .07% G | .07% | .07% | .07% | .07% | .07% | ||||||
Expenses net of fee waivers, if any | .07% G | .07% | .07% | .07% | .07% | .07% | ||||||
Expenses net of all reductions | .07% G | .07% | .07% | .07% | .07% | .07% | ||||||
Net investment income (loss) | 3.23% G | 3.25% | 2.45% | 2.53% | 3.32% | 3.33% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 2,490,570 | $ | 2,488,753 | $ | 2,873,997 | $ | 2,939,615 | $ | 2,082,589 | $ | 2,256,495 |
Portfolio turnover rate H | 5% G | 13% | 10% | 44% | 26% | 10% |
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 | $447,927,978 |
Gross unrealized depreciation | (337,937,119) |
Net unrealized appreciation (depreciation) | $109,990,859 |
Tax cost | $2,390,623,958 |
Short-term | $(76,380,870) |
Long-term | (97,659,583) |
Total capital loss carryforward | $(174,040,453) |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Real Estate Index Fund | 88,007,040 | 57,488,087 |
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 Real Estate Index Fund | $4,117 | $826 | $28,220 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 1, 2023 to January 31, 2024). |
Annualized Expense Ratio- A | Beginning Account Value August 1, 2023 | Ending Account Value January 31, 2024 | Expenses Paid During Period- C August 1, 2023 to January 31, 2024 | |||||||
Fidelity® Real Estate Index Fund | .07% | |||||||||
Actual | $ 1,000 | $ 1,006.50 | $ .35 | |||||||
Hypothetical-B | $ 1,000 | $ 1,024.78 | $ .36 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
A special meeting of shareholders was held on October 18, 2023. The results of votes taken among shareholders on the proposal before them are reported below. Each vote reported represents one dollar of net asset value held on the record date for the meeting. | ||
Proposal 1 | ||
To elect a Board of Trustees. | ||
# of Votes | % of Votes | |
Abigail P. Johnson | ||
Affirmative | 378,729,502,260.01 | 97.58 |
Withheld | 9,407,876,478.96 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Jennifer Toolin McAuliffe | ||
Affirmative | 378,454,868,010.95 | 97.51 |
Withheld | 9,682,510,728.02 | 2.49 |
TOTAL | 388,137,378,738.97 | 100.00 |
Christine J. Thompson | ||
Affirmative | 378,837,121,274.52 | 97.60 |
Withheld | 9,300,257,464.45 | 2.40 |
TOTAL | 388,137,378,738.97 | 100.00 |
Elizabeth S. Acton | ||
Affirmative | 378,262,110,794.85 | 97.46 |
Withheld | 9,875,267,944.12 | 2.54 |
TOTAL | 388,137,378,738.97 | 100.00 |
Laura M. Bishop | ||
Affirmative | 380,482,113,171.06 | 98.03 |
Withheld | 7,655,265,567.91 | 1.97 |
TOTAL | 388,137,378,738.97 | 100.00 |
Ann E. Dunwoody | ||
Affirmative | 380,016,034,008.12 | 97.91 |
Withheld | 8,121,344,730.85 | 2.09 |
TOTAL | 388,137,378,738.97 | 100.00 |
John Engler | ||
Affirmative | 379,432,488,394.20 | 97.76 |
Withheld | 8,704,890,344.77 | 2.24 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert F. Gartland | ||
Affirmative | 378,741,819,600.60 | 97.58 |
Withheld | 9,395,559,138.37 | 2.42 |
TOTAL | 388,137,378,738.97 | 100.00 |
Robert W. Helm | ||
Affirmative | 380,389,324,755.07 | 98.00 |
Withheld | 7,748,053,983.90 | 2.00 |
TOTAL | 388,137,378,738.97 | 100.00 |
Arthur E. Johnson | ||
Affirmative | 378,427,694,151.67 | 97.50 |
Withheld | 9,709,684,587.30 | 2.50 |
TOTAL | 388,137,378,738.97 | 100.00 |
Michael E. Kenneally | ||
Affirmative | 377,842,228,145.18 | 97.35 |
Withheld | 10,295,150,593.79 | 2.65 |
TOTAL | 388,137,378,738.97 | 100.00 |
Mark A. Murray | ||
Affirmative | 380,158,432,703.37 | 97.94 |
Withheld | 7,978,946,035.60 | 2.06 |
TOTAL | 388,137,378,738.97 | 100.00 |
Carol J. Zierhoffer | ||
Affirmative | 380,522,113,360.24 | 98.04 |
Withheld | 7,615,265,378.73 | 1.96 |
TOTAL | 388,137,378,738.97 | 100.00 |
Proposal 1 reflects trust wide proposal and voting results. |
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Salem Street Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Salem Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable
assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Salem Street Trust
By: | /s/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | March 21, 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/Laura M. Del Prato |
Laura M. Del Prato | |
President and Treasurer | |
Date: | March 21, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | March 21, 2024 |