Quarterly Holdings Report
for
Fidelity® Series Sustainable Investment Grade Bond Fund
May 31, 2024
SGB-NPRT3-0724
1.9908956.101
Nonconvertible Bonds - 26.6% | |||
Principal Amount (a) | Value ($) | ||
COMMUNICATION SERVICES - 2.7% | |||
Diversified Telecommunication Services - 1.5% | |||
TELUS Corp. 3.4% 5/13/32 | 45,000 | 38,927 | |
Verizon Communications, Inc. 5.05% 5/9/33 | 74,000 | 72,811 | |
111,738 | |||
Entertainment - 0.3% | |||
The Walt Disney Co. 2.65% 1/13/31 | 27,000 | 23,435 | |
Media - 0.9% | |||
Charter Communications Operating LLC/Charter Communications Operating Capital Corp.: | |||
5.05% 3/30/29 | 10,000 | 9,582 | |
6.1% 6/1/29 | 5,000 | 5,005 | |
6.55% 6/1/34 | 3,000 | 3,006 | |
Warnermedia Holdings, Inc.: | |||
4.279% 3/15/32 | 30,000 | 26,256 | |
5.141% 3/15/52 | 27,000 | 21,314 | |
65,163 | |||
TOTAL COMMUNICATION SERVICES | 200,336 | ||
CONSUMER DISCRETIONARY - 1.8% | |||
Automobiles - 0.2% | |||
General Motors Co. 5.4% 10/15/29 | 18,000 | 17,843 | |
Specialty Retail - 1.3% | |||
Lowe's Companies, Inc.: | |||
3.75% 4/1/32 | 35,000 | 31,654 | |
4.25% 4/1/52 | 25,000 | 19,639 | |
The Home Depot, Inc. 3.25% 4/15/32 | 25,000 | 22,033 | |
TJX Companies, Inc. 3.875% 4/15/30 | 23,000 | 21,695 | |
95,021 | |||
Textiles, Apparel & Luxury Goods - 0.3% | |||
Tapestry, Inc. 3.05% 3/15/32 | 27,000 | 21,709 | |
TOTAL CONSUMER DISCRETIONARY | 134,573 | ||
CONSUMER STAPLES - 0.9% | |||
Consumer Staples Distribution & Retail - 0.3% | |||
Alimentation Couche-Tard, Inc. 3.625% 5/13/51 (b) | 29,000 | 20,693 | |
Food Products - 0.6% | |||
General Mills, Inc. 2.25% 10/14/31 | 55,000 | 45,103 | |
TOTAL CONSUMER STAPLES | 65,796 | ||
FINANCIALS - 8.4% | |||
Banks - 4.5% | |||
Bank of America Corp.: | |||
2.456% 10/22/25 (c) | 70,000 | 69,094 | |
5.015% 7/22/33 (c) | 55,000 | 53,588 | |
Citigroup, Inc.: | |||
2.014% 1/25/26 (c) | 68,000 | 66,349 | |
4.91% 5/24/33 (c) | 15,000 | 14,384 | |
JPMorgan Chase & Co.: | |||
0.768% 8/9/25 (c) | 60,000 | 59,429 | |
4.912% 7/25/33 (c) | 65,000 | 62,992 | |
Santander Holdings U.S.A., Inc.: | |||
5.807% 9/9/26 (c) | 7,000 | 6,964 | |
6.499% 3/9/29 (c) | 5,000 | 5,098 | |
337,898 | |||
Capital Markets - 2.3% | |||
Goldman Sachs Group, Inc.: | |||
3.102% 2/24/33 (c) | 21,000 | 17,823 | |
3.615% 3/15/28 (c) | 25,000 | 23,842 | |
Morgan Stanley: | |||
0.864% 10/21/25 (c) | 67,000 | 65,712 | |
4.889% 7/20/33 (c) | 46,000 | 44,078 | |
State Street Corp. 3.031% 11/1/34 (c) | 25,000 | 21,922 | |
173,377 | |||
Consumer Finance - 0.3% | |||
Ally Financial, Inc. 2.2% 11/2/28 | 27,000 | 23,282 | |
Insurance - 1.3% | |||
Equitable Financial Life Global Funding 1.3% 7/12/26 (b) | 53,000 | 48,433 | |
Marsh & McLennan Companies, Inc. 2.375% 12/15/31 | 57,000 | 46,998 | |
95,431 | |||
TOTAL FINANCIALS | 629,988 | ||
HEALTH CARE - 2.1% | |||
Biotechnology - 0.6% | |||
Amgen, Inc. 3% 2/22/29 | 50,000 | 45,809 | |
Health Care Providers & Services - 0.7% | |||
Cigna Group 3.4% 3/15/51 | 28,000 | 19,027 | |
Humana, Inc. 3.7% 3/23/29 | 37,000 | 34,499 | |
53,526 | |||
Pharmaceuticals - 0.8% | |||
AstraZeneca Finance LLC 1.75% 5/28/28 | 27,000 | 23,854 | |
Bristol-Myers Squibb Co. 2.95% 3/15/32 | 13,000 | 11,154 | |
Zoetis, Inc. 2% 5/15/30 | 27,000 | 22,547 | |
57,555 | |||
TOTAL HEALTH CARE | 156,890 | ||
INDUSTRIALS - 1.4% | |||
Building Products - 0.4% | |||
Carrier Global Corp.: | |||
2.493% 2/15/27 | 25,000 | 23,275 | |
5.9% 3/15/34 | 2,000 | 2,078 | |
6.2% 3/15/54 | 2,000 | 2,145 | |
27,498 | |||
Industrial Conglomerates - 0.7% | |||
Honeywell International, Inc. 1.75% 9/1/31 | 27,000 | 21,788 | |
Trane Technologies Financing Ltd. 3.8% 3/21/29 | 35,000 | 33,153 | |
54,941 | |||
Machinery - 0.3% | |||
Otis Worldwide Corp. 2.565% 2/15/30 | 27,000 | 23,511 | |
TOTAL INDUSTRIALS | 105,950 | ||
INFORMATION TECHNOLOGY - 1.1% | |||
Electronic Equipment, Instruments & Components - 0.3% | |||
Dell International LLC/EMC Corp. 6.2% 7/15/30 | 21,000 | 21,968 | |
Semiconductors & Semiconductor Equipment - 0.8% | |||
Micron Technology, Inc. 2.703% 4/15/32 | 36,000 | 29,697 | |
NXP BV/NXP Funding LLC/NXP U.S.A., Inc. 2.5% 5/11/31 | 36,000 | 29,909 | |
59,606 | |||
TOTAL INFORMATION TECHNOLOGY | 81,574 | ||
MATERIALS - 0.3% | |||
Chemicals - 0.3% | |||
International Flavors & Fragrances, Inc. 2.3% 11/1/30 (b) | 28,000 | 23,187 | |
REAL ESTATE - 2.7% | |||
Equity Real Estate Investment Trusts (REITs) - 2.4% | |||
Alexandria Real Estate Equities, Inc. 2% 5/18/32 | 42,000 | 32,739 | |
Boston Properties, Inc. 2.45% 10/1/33 | 47,000 | 34,745 | |
Brixmor Operating Partnership LP 5.75% 2/15/35 | 20,000 | 19,816 | |
Corporate Office Properties LP 2% 1/15/29 | 29,000 | 24,530 | |
Prologis LP 2.875% 11/15/29 | 38,000 | 33,970 | |
WP Carey, Inc. 2.45% 2/1/32 | 42,000 | 33,724 | |
179,524 | |||
Real Estate Management & Development - 0.3% | |||
CBRE Group, Inc. 2.5% 4/1/31 | 27,000 | 22,253 | |
TOTAL REAL ESTATE | 201,777 | ||
UTILITIES - 5.2% | |||
Electric Utilities - 1.6% | |||
Duke Energy Carolinas LLC 3.95% 11/15/28 | 33,000 | 31,524 | |
Northern States Power Co. 2.25% 4/1/31 | 40,000 | 33,381 | |
Oncor Electric Delivery Co. LLC 4.15% 6/1/32 | 25,000 | 23,209 | |
Wisconsin Electric Power Co. 4.75% 9/30/32 | 31,000 | 30,190 | |
118,304 | |||
Independent Power and Renewable Electricity Producers - 1.2% | |||
The AES Corp.: | |||
1.375% 1/15/26 | 27,000 | 25,213 | |
2.45% 1/15/31 | 78,000 | 64,049 | |
89,262 | |||
Multi-Utilities - 2.4% | |||
Consolidated Edison Co. of New York, Inc. 3.35% 4/1/30 | 47,000 | 42,822 | |
Dominion Energy, Inc. 2.25% 8/15/31 | 61,000 | 49,339 | |
NiSource, Inc. 1.7% 2/15/31 | 63,000 | 50,000 | |
Puget Energy, Inc. 4.224% 3/15/32 | 44,000 | 39,117 | |
181,278 | |||
TOTAL UTILITIES | 388,844 | ||
TOTAL NONCONVERTIBLE BONDS (Cost $2,022,696) | 1,988,915 | ||
U.S. Treasury Obligations - 43.4% | |||
Principal Amount (a) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.12% 1/23/25 | 100,000 | 96,800 | |
U.S. Treasury Bonds: | |||
3.625% 2/15/53 | 335,000 | 280,576 | |
3.875% 2/15/43 | 180,000 | 160,903 | |
4.125% 8/15/53 | 17,000 | 15,592 | |
4.25% 2/15/54 | 338,000 | 317,033 | |
4.625% 5/15/54 | 51,000 | 50,936 | |
U.S. Treasury Notes: | |||
3.375% 5/15/33 | 175,000 | 160,617 | |
3.5% 4/30/28 | 560,000 | 538,596 | |
3.5% 4/30/30 | 100,000 | 94,785 | |
3.5% 2/15/33 | 130,000 | 120,702 | |
3.625% 5/15/26 | 45,000 | 43,950 | |
3.75% 12/31/28 | 200,000 | 193,578 | |
3.75% 5/31/30 | 210,000 | 201,657 | |
4% 6/30/28 | 60,000 | 58,748 | |
4% 7/31/30 | 105,000 | 102,129 | |
4% 1/31/31 | 134,000 | 130,127 | |
4% 2/15/34 | 28,000 | 26,919 | |
4.125% 7/31/28 | 175,000 | 172,136 | |
4.125% 8/31/30 | 58,000 | 56,772 | |
4.25% 2/28/31 | 135,000 | 133,054 | |
4.375% 11/30/30 | 93,000 | 92,292 | |
4.5% 11/15/33 | 180,000 | 180,028 | |
4.875% 10/31/30 | 20,000 | 20,397 | |
TOTAL U.S. TREASURY OBLIGATIONS (Cost $3,407,482) | 3,248,327 | ||
U.S. Government Agency - Mortgage Securities - 43.7% | |||
Principal Amount (a) | Value ($) | ||
Fannie Mae - 3.3% | |||
2% 1/1/37 | 128,106 | 111,852 | |
2.5% 10/1/51 | 25,247 | 20,552 | |
5.5% 4/1/54 | 48,288 | 47,528 | |
6% 4/1/54 to 5/1/54 | 69,049 | 69,246 | |
TOTAL FANNIE MAE | 249,178 | ||
Freddie Mac - 1.6% | |||
2.5% 9/1/51 | 31,726 | 25,877 | |
3% 5/1/51 | 23,499 | 19,964 | |
4.5% 1/1/53 | 49,814 | 46,665 | |
5.5% 3/1/54 | 24,667 | 24,279 | |
TOTAL FREDDIE MAC | 116,785 | ||
Ginnie Mae - 7.8% | |||
2% 6/1/54 (d) | 50,000 | 40,034 | |
2% 6/1/54 (d) | 50,000 | 40,034 | |
2% 6/1/54 (d) | 25,000 | 20,017 | |
2% 6/1/54 (d) | 50,000 | 40,034 | |
2% 6/1/54 (d) | 100,000 | 80,068 | |
2% 6/1/54 (d) | 25,000 | 20,017 | |
2% 7/1/54 (d) | 50,000 | 40,071 | |
2.5% 6/1/54 (d) | 25,000 | 20,823 | |
2.5% 6/1/54 (d) | 50,000 | 41,646 | |
2.5% 6/1/54 (d) | 25,000 | 20,823 | |
3% 6/1/54 (d) | 50,000 | 43,188 | |
3% 6/1/54 (d) | 25,000 | 21,594 | |
3% 6/1/54 (d) | 50,000 | 43,188 | |
4% 10/20/52 | 98,262 | 90,224 | |
5% 6/1/54 (d) | 25,000 | 24,249 | |
TOTAL GINNIE MAE | 586,010 | ||
Uniform Mortgage Backed Securities - 31.0% | |||
2% 6/1/54 (d) | 200,000 | 154,172 | |
2% 6/1/54 (d) | 25,000 | 19,271 | |
2% 6/1/54 (d) | 50,000 | 38,543 | |
2% 6/1/54 (d) | 25,000 | 19,271 | |
2% 6/1/54 (d) | 50,000 | 38,543 | |
2% 6/1/54 (d) | 50,000 | 38,543 | |
2% 6/1/54 (d) | 25,000 | 19,271 | |
2% 6/1/54 (d) | 50,000 | 38,543 | |
2% 6/1/54 (d) | 25,000 | 19,271 | |
2% 6/1/54 (d) | 50,000 | 38,543 | |
2% 7/1/54 (d) | 200,000 | 154,336 | |
2% 7/1/54 (d) | 50,000 | 38,584 | |
2% 7/1/54 (d) | 50,000 | 38,584 | |
2% 7/1/54 (d) | 250,000 | 192,920 | |
2.5% 6/1/54 (d) | 100,000 | 80,691 | |
2.5% 6/1/54 (d) | 50,000 | 40,346 | |
2.5% 6/1/54 (d) | 50,000 | 40,346 | |
2.5% 6/1/54 (d) | 25,000 | 20,173 | |
2.5% 6/1/54 (d) | 50,000 | 40,346 | |
2.5% 6/1/54 (d) | 50,000 | 40,346 | |
2.5% 6/1/54 (d) | 25,000 | 20,173 | |
2.5% 7/1/54 (d) | 50,000 | 40,381 | |
2.5% 7/1/54 (d) | 100,000 | 80,762 | |
2.5% 7/1/54 (d) | 50,000 | 40,381 | |
2.5% 7/1/54 (d) | 100,000 | 80,762 | |
3% 6/1/54 (d) | 100,000 | 84,055 | |
3% 6/1/54 (d) | 50,000 | 42,027 | |
3% 6/1/54 (d) | 50,000 | 42,027 | |
3% 6/1/54 (d) | 50,000 | 42,027 | |
3% 7/1/54 (d) | 50,000 | 42,053 | |
3% 7/1/54 (d) | 50,000 | 42,053 | |
3.5% 6/1/54 (d) | 100,000 | 87,629 | |
3.5% 6/1/54 (d) | 100,000 | 87,629 | |
3.5% 7/1/54 (d) | 25,000 | 21,890 | |
3.5% 7/1/54 (d) | 75,000 | 65,669 | |
4% 6/1/54 (d) | 50,000 | 45,350 | |
4% 6/1/54 (d) | 50,000 | 45,350 | |
4% 6/1/54 (d) | 50,000 | 45,350 | |
4% 6/1/54 (d) | 50,000 | 45,350 | |
6% 6/1/54 (d) | 25,000 | 25,032 | |
6% 6/1/54 (d) | 25,000 | 25,032 | |
6.5% 6/1/54 (d) | 75,000 | 76,233 | |
6.5% 6/1/54 (d) | 75,000 | 76,233 | |
TOTAL UNIFORM MORTGAGE BACKED SECURITIES | 2,314,091 | ||
TOTAL U.S. GOVERNMENT AGENCY - MORTGAGE SECURITIES (Cost $3,283,614) | 3,266,064 | ||
Asset-Backed Securities - 6.7% | |||
Principal Amount (a) | Value ($) | ||
RR Ltd. / RR 28 LLC Series 2024-28RA Class A1R, CME Term SOFR 3 Month Index + 1.550% 6.8406% 4/15/37 (b)(c)(e) | 250,000 | 252,274 | |
Voya CLO, Ltd. Series 2021-1A Class AR, CME Term SOFR 3 Month Index + 1.410% 6.7393% 7/16/34 (b)(c)(e) | 250,000 | 250,416 | |
TOTAL ASSET-BACKED SECURITIES (Cost $494,379) | 502,690 | ||
Money Market Funds - 14.8% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (f) (Cost $1,102,824) | 1,102,603 | 1,102,824 | |
TOTAL INVESTMENT IN SECURITIES - 135.2% (Cost $10,310,995) | 10,108,820 |
NET OTHER ASSETS (LIABILITIES) - (35.2)% | (2,632,691) |
NET ASSETS - 100.0% | 7,476,129 |
TBA Sale Commitments | ||
Principal Amount (a) | Value ($) | |
Ginnie Mae | ||
2% 6/1/54 | (50,000) | (40,034) |
2% 6/1/54 | (100,000) | (80,068) |
2% 6/1/54 | (25,000) | (20,017) |
2.5% 6/1/54 | (25,000) | (20,823) |
3% 6/1/54 | (50,000) | (43,188) |
TOTAL GINNIE MAE | (204,130) | |
Uniform Mortgage Backed Securities | ||
2% 6/1/54 | (200,000) | (154,172) |
2% 6/1/54 | (50,000) | (38,543) |
2% 6/1/54 | (50,000) | (38,543) |
2% 6/1/54 | (50,000) | (38,543) |
2% 6/1/54 | (25,000) | (19,271) |
2% 6/1/54 | (50,000) | (38,543) |
2% 7/1/54 | (250,000) | (192,920) |
2.5% 6/1/54 | (25,000) | (20,173) |
2.5% 6/1/54 | (50,000) | (40,346) |
2.5% 6/1/54 | (100,000) | (80,691) |
2.5% 6/1/54 | (50,000) | (40,346) |
2.5% 6/1/54 | (50,000) | (40,346) |
2.5% 6/1/54 | (50,000) | (40,346) |
2.5% 7/1/54 | (100,000) | (80,762) |
3% 6/1/54 | (50,000) | (42,027) |
3% 6/1/54 | (50,000) | (42,027) |
3% 6/1/54 | (50,000) | (42,027) |
3% 6/1/54 | (50,000) | (42,027) |
3.5% 6/1/54 | (25,000) | (21,907) |
3.5% 6/1/54 | (100,000) | (87,629) |
3.5% 6/1/54 | (75,000) | (65,722) |
4% 6/1/54 | (50,000) | (45,350) |
4% 6/1/54 | (50,000) | (45,350) |
6% 6/1/54 | (25,000) | (25,032) |
6.5% 6/1/54 | (75,000) | (76,233) |
TOTAL UNIFORM MORTGAGE BACKED SECURITIES | (1,398,876) | |
TOTAL TBA SALE COMMITMENTS (Proceeds $1,612,221) | (1,603,006) |
Legend
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $595,003 or 8.0% of net assets. |
(c) | Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end. |
(d) | Security or a portion of the security purchased on a delayed delivery or when-issued basis. |
(e) | Coupon is indexed to a floating interest rate which may be multiplied by a specified factor and/or subject to caps or floors. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 1,123,189 | 2,069,235 | 2,089,600 | 50,118 | - | - | 1,102,824 | 0.0% |
Total | 1,123,189 | 2,069,235 | 2,089,600 | 50,118 | - | - | 1,102,824 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. Nonconvertible Bonds and U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. U.S. Government Agency - Mortgage Securities and Asset-Backed Securities are valued by pricing services who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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