Quarterly Holdings Report
for
Fidelity® Mid Cap Index Fund
July 31, 2024
MCX-NPRT1-0924
1.929304.112
| Common Stocks - 99.6% | |||
| Shares | Value ($) | ||
| COMMUNICATION SERVICES - 3.5% | |||
| Diversified Telecommunication Services - 0.2% | |||
| Frontier Communications Parent, Inc. (a)(b) | 776,508 | 22,751,684 | |
| Iridium Communications, Inc. | 379,000 | 10,877,300 | |
| Liberty Global Ltd.: | |||
| Class A | 524,642 | 10,225,273 | |
| Class C | 590,576 | 11,876,483 | |
| 55,730,740 | |||
| Entertainment - 1.5% | |||
| Electronic Arts, Inc. | 848,912 | 128,134,777 | |
| Liberty Media Corp. Liberty Formula One: | |||
| Class A | 79,992 | 5,917,008 | |
| Class C | 619,658 | 50,111,742 | |
| Liberty Media Corp. Liberty Live: | |||
| Class C | 146,746 | 5,726,029 | |
| Series A | 74,532 | 2,815,074 | |
| Live Nation Entertainment, Inc. (a) | 505,679 | 48,641,263 | |
| Madison Square Garden Sports Corp. (a) | 61,053 | 12,235,632 | |
| Playtika Holding Corp. | 278,582 | 2,125,581 | |
| Roblox Corp. (a) | 1,616,423 | 67,113,883 | |
| Roku, Inc. Class A (a) | 399,724 | 23,267,934 | |
| Take-Two Interactive Software, Inc. (a) | 533,995 | 80,382,267 | |
| TKO Group Holdings, Inc. | 249,565 | 27,289,933 | |
| Warner Bros Discovery, Inc. (a) | 7,763,901 | 67,157,744 | |
| 520,918,867 | |||
| Interactive Media & Services - 0.3% | |||
| IAC, Inc. (a) | 264,288 | 13,957,049 | |
| Match Group, Inc. (a) | 837,362 | 31,936,987 | |
| Pinterest, Inc. Class A (a) | 1,873,244 | 59,850,146 | |
| TripAdvisor, Inc. (a) | 341,282 | 6,016,802 | |
| Trump Media & Technology Group (a)(b) | 182,340 | 5,240,452 | |
| Zoominfo Technologies, Inc. (a) | 511,883 | 5,814,991 | |
| 122,816,427 | |||
| Media - 1.5% | |||
| Charter Communications, Inc. Class A (a) | 299,551 | 113,745,506 | |
| Fox Corp.: | |||
| Class A | 750,544 | 28,550,694 | |
| Class B | 440,471 | 15,605,888 | |
| Interpublic Group of Companies, Inc. | 1,227,322 | 39,482,949 | |
| Liberty Broadband Corp.: | |||
| Class A (a) | 50,819 | 3,365,234 | |
| Class C (a) | 225,705 | 15,210,260 | |
| Liberty Media Corp. Liberty SiriusXM: | |||
| Class A | 223,990 | 5,066,654 | |
| Class C | 492,864 | 11,094,369 | |
| News Corp.: | |||
| Class A | 1,203,534 | 33,193,468 | |
| Class B | 359,717 | 10,248,337 | |
| Nexstar Media Group, Inc. | 101,875 | 18,825,481 | |
| Omnicom Group, Inc. | 618,450 | 60,632,838 | |
| Paramount Global: | |||
| Class A (b) | 29,613 | 678,138 | |
| Class B (b) | 1,870,922 | 21,365,929 | |
| Sirius XM Holdings, Inc. (b) | 1,933,314 | 6,669,933 | |
| The New York Times Co. Class A | 508,516 | 27,251,372 | |
| The Trade Desk, Inc. Class A (a) | 1,402,200 | 126,029,736 | |
| 537,016,786 | |||
TOTAL COMMUNICATION SERVICES | 1,236,482,820 | ||
| CONSUMER DISCRETIONARY - 10.7% | |||
| Automobile Components - 0.4% | |||
| Aptiv PLC (a) | 861,430 | 59,774,628 | |
| BorgWarner, Inc. | 747,970 | 26,410,821 | |
| Gentex Corp. | 731,640 | 22,724,738 | |
| Lear Corp. | 184,234 | 22,483,917 | |
| QuantumScape Corp. Class A (a)(b) | 1,108,526 | 7,161,078 | |
| 138,555,182 | |||
| Automobiles - 0.2% | |||
| Harley-Davidson, Inc. | 382,753 | 14,353,238 | |
| Lucid Group, Inc. Class A (a)(b) | 2,807,474 | 9,882,308 | |
| Rivian Automotive, Inc. (a)(b) | 2,602,962 | 42,714,606 | |
| Thor Industries, Inc. | 160,862 | 17,073,893 | |
| 84,024,045 | |||
| Broadline Retail - 0.7% | |||
| Coupang, Inc. Class A (a) | 3,686,805 | 76,501,204 | |
| Dillard's, Inc. Class A (b) | 11,044 | 4,402,028 | |
| eBay, Inc. | 1,623,391 | 90,276,774 | |
| Etsy, Inc. (a) | 313,631 | 20,429,923 | |
| Kohl's Corp. | 216,694 | 4,693,592 | |
| Macy's, Inc. | 894,138 | 15,450,705 | |
| Nordstrom, Inc. (b) | 213,927 | 4,883,953 | |
| Ollie's Bargain Outlet Holdings, Inc. (a) | 198,023 | 19,334,966 | |
| 235,973,145 | |||
| Distributors - 0.4% | |||
| Genuine Parts Co. | 444,499 | 65,390,248 | |
| LKQ Corp. | 860,236 | 35,699,794 | |
| Pool Corp. | 120,249 | 44,977,936 | |
| 146,067,978 | |||
| Diversified Consumer Services - 0.4% | |||
| ADT, Inc. | 917,523 | 7,138,329 | |
| Bright Horizons Family Solutions, Inc. (a) | 182,289 | 21,920,252 | |
| Duolingo, Inc. (a) | 116,041 | 19,952,090 | |
| Grand Canyon Education, Inc. (a) | 92,459 | 14,418,981 | |
| H&R Block, Inc. | 438,945 | 25,432,473 | |
| Service Corp. International | 451,189 | 36,054,513 | |
| 124,916,638 | |||
| Hotels, Restaurants & Leisure - 3.2% | |||
| Aramark | 828,269 | 28,384,779 | |
| Boyd Gaming Corp. | 232,472 | 14,150,571 | |
| Caesars Entertainment, Inc. (a)(b) | 490,023 | 19,576,419 | |
| Carnival Corp. (a) | 3,177,721 | 52,940,832 | |
| Cava Group, Inc. (a) | 238,649 | 20,099,019 | |
| Choice Hotels International, Inc. (b) | 95,090 | 12,119,221 | |
| Churchill Downs, Inc. | 220,379 | 31,637,609 | |
| Darden Restaurants, Inc. | 382,354 | 55,934,567 | |
| Domino's Pizza, Inc. | 109,993 | 47,153,999 | |
| Draftkings Holdings, Inc. (a) | 1,405,858 | 51,946,453 | |
| Dutch Bros, Inc. (a) | 289,585 | 11,076,626 | |
| Expedia Group, Inc. (a) | 387,048 | 49,414,418 | |
| Hilton Worldwide Holdings, Inc. | 777,336 | 166,870,719 | |
| Hyatt Hotels Corp. Class A | 138,498 | 20,404,910 | |
| Las Vegas Sands Corp. | 1,148,484 | 45,560,360 | |
| Light & Wonder, Inc. Class A (a) | 285,445 | 30,599,704 | |
| Marriott Vacations Worldwide Corp. | 117,025 | 9,897,975 | |
| MGM Resorts International (a) | 786,054 | 33,776,740 | |
| Norwegian Cruise Line Holdings Ltd. (a) | 1,353,999 | 24,954,202 | |
| Penn Entertainment, Inc. (a) | 476,505 | 9,515,805 | |
| Planet Fitness, Inc. (a) | 280,033 | 20,638,432 | |
| Royal Caribbean Cruises Ltd. | 750,042 | 117,546,582 | |
| Texas Roadhouse, Inc. | 210,905 | 36,826,122 | |
| Travel+Leisure Co. | 224,803 | 10,361,170 | |
| Vail Resorts, Inc. (b) | 124,024 | 22,573,608 | |
| Wendy's Co. | 596,743 | 10,102,859 | |
| Wingstop, Inc. | 92,804 | 34,697,560 | |
| Wyndham Hotels & Resorts, Inc. | 256,786 | 19,443,836 | |
| Wynn Resorts Ltd. | 323,151 | 26,763,366 | |
| Yum! Brands, Inc. | 891,433 | 118,409,045 | |
| 1,153,377,508 | |||
| Household Durables - 2.1% | |||
| D.R. Horton, Inc. | 938,224 | 168,814,644 | |
| Garmin Ltd. | 489,894 | 83,894,348 | |
| Leggett & Platt, Inc. | 420,624 | 5,539,618 | |
| Lennar Corp.: | |||
| Class A | 762,826 | 134,966,804 | |
| Class B | 36,060 | 5,948,458 | |
| Mohawk Industries, Inc. (a) | 167,849 | 27,035,438 | |
| Newell Brands, Inc. | 1,312,095 | 11,270,896 | |
| NVR, Inc. (a) | 9,407 | 80,970,564 | |
| PulteGroup, Inc. | 661,704 | 87,344,928 | |
| SharkNinja, Inc. | 209,346 | 16,088,240 | |
| Tempur Sealy International, Inc. | 530,683 | 27,781,255 | |
| Toll Brothers, Inc. | 328,099 | 46,823,008 | |
| TopBuild Corp. (a) | 100,449 | 48,068,864 | |
| Whirlpool Corp. | 170,998 | 17,436,666 | |
| 761,983,731 | |||
| Leisure Products - 0.3% | |||
| Brunswick Corp. | 226,633 | 18,459,258 | |
| Hasbro, Inc. | 439,890 | 28,355,309 | |
| Mattel, Inc. (a) | 826,498 | 15,943,146 | |
| Polaris, Inc. | 181,912 | 15,149,631 | |
| YETI Holdings, Inc. (a) | 269,404 | 11,139,855 | |
| 89,047,199 | |||
| Specialty Retail - 2.3% | |||
| Advance Auto Parts, Inc. | 188,274 | 11,923,392 | |
| AutoNation, Inc. (a) | 83,894 | 16,000,264 | |
| Bath & Body Works, Inc. | 711,715 | 26,155,526 | |
| Best Buy Co., Inc. | 681,885 | 58,996,690 | |
| Burlington Stores, Inc. (a) | 200,585 | 52,216,287 | |
| CarMax, Inc. (a) | 504,809 | 42,626,072 | |
| Carvana Co. Class A (a) | 333,551 | 44,439,000 | |
| Dick's Sporting Goods, Inc. | 180,020 | 38,947,327 | |
| Five Below, Inc. (a) | 132,245 | 9,619,501 | |
| Floor & Decor Holdings, Inc. Class A (a)(b) | 337,216 | 33,047,168 | |
| GameStop Corp. Class A (a)(b) | 851,274 | 19,298,382 | |
| Gap, Inc. | 634,819 | 14,905,550 | |
| Lithia Motors, Inc. Class A (sub. vtg.) | 88,083 | 24,339,975 | |
| Murphy U.S.A., Inc. | 59,564 | 30,075,055 | |
| Penske Automotive Group, Inc. | 58,359 | 10,160,885 | |
| RH (a) | 48,662 | 14,115,873 | |
| Ross Stores, Inc. | 1,040,905 | 149,088,823 | |
| Tractor Supply Co. | 341,247 | 89,857,160 | |
| Ulta Beauty, Inc. (a) | 152,739 | 55,732,934 | |
| Valvoline, Inc. (a) | 408,548 | 18,997,482 | |
| Wayfair LLC Class A (a)(b) | 291,987 | 15,892,852 | |
| Williams-Sonoma, Inc. | 402,583 | 62,271,538 | |
| 838,707,736 | |||
| Textiles, Apparel & Luxury Goods - 0.7% | |||
| Amer Sports, Inc. | 383,129 | 4,448,128 | |
| Birkenstock Holding PLC | 124,225 | 7,342,940 | |
| Capri Holdings Ltd. (a) | 358,848 | 12,035,762 | |
| Carter's, Inc. (b) | 128,802 | 7,798,961 | |
| Columbia Sportswear Co. | 77,752 | 6,352,338 | |
| Crocs, Inc. (a) | 188,096 | 25,274,460 | |
| Deckers Outdoor Corp. (a) | 80,785 | 74,534,665 | |
| PVH Corp. | 185,737 | 18,943,317 | |
| Ralph Lauren Corp. Class A | 121,800 | 21,386,862 | |
| Skechers U.S.A., Inc. Class A (sub. vtg.) (a) | 427,528 | 27,844,899 | |
| Tapestry, Inc. | 737,685 | 29,573,792 | |
| Under Armour, Inc.: | |||
| Class A (sub. vtg.) (a) | 596,732 | 4,159,222 | |
| Class C (non-vtg.) (a)(b) | 718,914 | 4,881,426 | |
| VF Corp. | 1,106,725 | 18,770,056 | |
| 263,346,828 | |||
TOTAL CONSUMER DISCRETIONARY | 3,835,999,990 | ||
| CONSUMER STAPLES - 5.1% | |||
| Beverages - 0.3% | |||
| Boston Beer Co., Inc. Class A (a) | 12,142 | 3,402,310 | |
| Brown-Forman Corp.: | |||
| Class A | 180,312 | 8,220,424 | |
| Class B (non-vtg.) | 544,846 | 24,605,245 | |
| Celsius Holdings, Inc. (a) | 557,049 | 26,086,605 | |
| Coca-Cola Consolidated, Inc. | 18,657 | 21,378,870 | |
| Molson Coors Beverage Co. Class B | 553,664 | 29,261,142 | |
| 112,954,596 | |||
| Consumer Staples Distribution & Retail - 1.7% | |||
| Albertsons Companies, Inc. | 1,321,828 | 26,211,849 | |
| BJ's Wholesale Club Holdings, Inc. (a) | 417,239 | 36,700,342 | |
| Casey's General Stores, Inc. | 117,074 | 45,405,980 | |
| Dollar General Corp. | 698,724 | 84,119,382 | |
| Dollar Tree, Inc. (a) | 655,012 | 68,343,952 | |
| Grocery Outlet Holding Corp. (a) | 332,975 | 6,512,991 | |
| Kroger Co. | 2,099,062 | 114,398,879 | |
| Maplebear, Inc. (NASDAQ) | 544,295 | 18,772,735 | |
| Performance Food Group Co. (a) | 483,368 | 33,352,392 | |
| Sysco Corp. | 1,575,905 | 120,793,118 | |
| U.S. Foods Holding Corp. (a) | 724,568 | 39,409,254 | |
| Walgreens Boots Alliance, Inc. | 2,322,128 | 27,563,659 | |
| 621,584,533 | |||
| Food Products - 2.2% | |||
| Archer Daniels Midland Co. | 1,566,059 | 97,111,319 | |
| Bunge Global SA | 445,528 | 46,882,911 | |
| Campbell Soup Co. | 607,335 | 28,459,718 | |
| Conagra Brands, Inc. | 1,507,427 | 45,705,187 | |
| Darling Ingredients, Inc. (a) | 516,626 | 20,525,551 | |
| Flowers Foods, Inc. | 592,750 | 13,348,730 | |
| Freshpet, Inc. (a) | 147,224 | 17,917,161 | |
| General Mills, Inc. | 1,786,876 | 119,970,855 | |
| Hormel Foods Corp. | 917,163 | 29,450,104 | |
| Ingredion, Inc. | 207,257 | 25,776,553 | |
| Kellanova | 829,371 | 48,227,924 | |
| Lamb Weston Holdings, Inc. | 455,132 | 27,317,023 | |
| McCormick & Co., Inc. (non-vtg.) | 802,039 | 61,765,023 | |
| Pilgrim's Pride Corp. (a) | 130,455 | 5,378,660 | |
| Post Holdings, Inc. (a) | 156,235 | 17,085,860 | |
| Seaboard Corp. | 812 | 2,637,303 | |
| The Hershey Co. | 469,789 | 92,773,932 | |
| The J.M. Smucker Co. | 330,600 | 38,994,270 | |
| Tyson Foods, Inc. Class A | 889,804 | 54,189,064 | |
| 793,517,148 | |||
| Household Products - 0.4% | |||
| Church & Dwight Co., Inc. | 771,834 | 75,647,450 | |
| Reynolds Consumer Products, Inc. | 171,961 | 4,783,955 | |
| Spectrum Brands Holdings, Inc. | 97,056 | 8,211,908 | |
| The Clorox Co. | 392,719 | 51,811,418 | |
| 140,454,731 | |||
| Personal Care Products - 0.5% | |||
| BellRing Brands, Inc. (a) | 412,183 | 21,136,744 | |
| Coty, Inc. Class A (a) | 1,244,387 | 12,381,651 | |
| elf Beauty, Inc. (a) | 167,360 | 28,882,989 | |
| Kenvue, Inc. | 6,112,602 | 113,022,011 | |
| 175,423,395 | |||
TOTAL CONSUMER STAPLES | 1,843,934,403 | ||
| ENERGY - 5.4% | |||
| Energy Equipment & Services - 0.9% | |||
| Baker Hughes Co. Class A | 3,157,880 | 122,273,114 | |
| Halliburton Co. | 2,789,062 | 96,724,670 | |
| NOV, Inc. | 1,245,465 | 25,930,581 | |
| TechnipFMC PLC | 1,356,623 | 40,020,379 | |
| Weatherford International PLC | 228,243 | 26,900,720 | |
| 311,849,464 | |||
| Oil, Gas & Consumable Fuels - 4.5% | |||
| Antero Midstream GP LP | 1,072,122 | 15,395,672 | |
| Antero Resources Corp. (a) | 917,545 | 26,627,156 | |
| APA Corp. | 1,144,604 | 35,700,199 | |
| Cheniere Energy, Inc. | 726,577 | 132,702,023 | |
| Chesapeake Energy Corp. | 415,179 | 31,690,613 | |
| Chord Energy Corp. | 198,349 | 34,048,589 | |
| Civitas Resources, Inc. | 322,274 | 22,481,834 | |
| Coterra Energy, Inc. | 2,346,928 | 60,550,742 | |
| Devon Energy Corp. | 1,990,863 | 93,630,287 | |
| Diamondback Energy, Inc. | 562,571 | 113,813,739 | |
| DT Midstream, Inc. | 307,158 | 23,147,427 | |
| EQT Corp. | 1,875,685 | 64,729,889 | |
| Hess Corp. | 883,865 | 135,602,568 | |
| HF Sinclair Corp. | 512,442 | 26,375,390 | |
| Kinder Morgan, Inc. | 6,133,508 | 129,601,024 | |
| Marathon Oil Corp. | 1,806,964 | 50,685,340 | |
| Matador Resources Co. | 371,790 | 22,857,649 | |
| New Fortress Energy, Inc. Class A (b) | 205,950 | 4,065,453 | |
| ONEOK, Inc. | 1,846,181 | 153,842,263 | |
| Ovintiv, Inc. | 848,406 | 39,399,975 | |
| Permian Resource Corp. Class A | 1,986,321 | 30,470,164 | |
| Range Resources Corp. | 749,877 | 23,418,659 | |
| Southwestern Energy Co. (a) | 3,469,178 | 22,376,198 | |
| Targa Resources Corp. | 695,179 | 94,043,815 | |
| Texas Pacific Land Corp. (b) | 59,405 | 50,191,285 | |
| The Williams Companies, Inc. | 3,850,543 | 165,342,316 | |
| Viper Energy, Inc. | 288,856 | 12,325,486 | |
| 1,615,115,755 | |||
TOTAL ENERGY | 1,926,965,219 | ||
| FINANCIALS - 15.8% | |||
| Banks - 2.9% | |||
| Bank OZK | 351,624 | 16,487,649 | |
| BOK Financial Corp. | 71,750 | 7,378,770 | |
| Citizens Financial Group, Inc. | 1,445,537 | 61,681,064 | |
| Columbia Banking Systems, Inc. | 692,820 | 18,124,171 | |
| Comerica, Inc. | 419,337 | 22,983,861 | |
| Commerce Bancshares, Inc. | 376,826 | 24,384,410 | |
| Cullen/Frost Bankers, Inc. | 186,017 | 21,775,150 | |
| East West Bancorp, Inc. | 436,380 | 38,353,438 | |
| Fifth Third Bancorp | 2,160,346 | 91,469,050 | |
| First Citizens Bancshares, Inc. | 37,903 | 79,129,714 | |
| First Hawaiian, Inc. | 402,876 | 10,088,015 | |
| First Horizon National Corp. | 1,726,577 | 28,885,633 | |
| FNB Corp., Pennsylvania | 1,125,030 | 17,257,960 | |
| Huntington Bancshares, Inc. | 4,567,419 | 68,282,914 | |
| KeyCorp | 2,927,630 | 47,222,672 | |
| M&T Bank Corp. | 525,736 | 90,515,967 | |
| Nu Holdings Ltd. Class A (a) | 10,067,539 | 122,119,248 | |
| Pinnacle Financial Partners, Inc. | 239,729 | 23,090,697 | |
| Popular, Inc. | 225,596 | 23,152,917 | |
| Prosperity Bancshares, Inc. | 283,752 | 20,577,695 | |
| Regions Financial Corp. | 2,906,422 | 65,016,660 | |
| Synovus Financial Corp. | 461,607 | 21,580,127 | |
| TFS Financial Corp. | 159,878 | 2,167,946 | |
| Webster Financial Corp. | 549,433 | 27,262,865 | |
| Western Alliance Bancorp. | 339,589 | 27,323,331 | |
| Wintrust Financial Corp. | 205,282 | 22,211,512 | |
| Zions Bancorporation NA | 457,427 | 23,635,253 | |
| 1,022,158,689 | |||
| Capital Markets - 4.7% | |||
| Affiliated Managers Group, Inc. | 101,052 | 18,757,272 | |
| Ameriprise Financial, Inc. | 317,006 | 136,334,770 | |
| Ares Management Corp. Class A, | 564,114 | 86,422,265 | |
| Bank of New York Mellon Corp. | 2,369,442 | 154,179,591 | |
| Blue Owl Capital, Inc. Class A | 1,587,000 | 30,264,090 | |
| Carlyle Group LP | 692,535 | 34,446,691 | |
| Cboe Global Markets, Inc. | 333,710 | 61,239,122 | |
| Coinbase Global, Inc. (a) | 624,451 | 140,101,826 | |
| Evercore, Inc. Class A | 113,454 | 28,407,747 | |
| FactSet Research Systems, Inc. | 120,304 | 49,696,379 | |
| Franklin Resources, Inc. | 936,468 | 21,417,023 | |
| Houlihan Lokey | 162,685 | 24,443,421 | |
| Interactive Brokers Group, Inc. | 328,556 | 39,186,874 | |
| Invesco Ltd. | 1,155,756 | 19,948,349 | |
| Janus Henderson Group PLC | 408,796 | 15,219,475 | |
| Jefferies Financial Group, Inc. | 569,721 | 33,311,587 | |
| Lazard, Inc. Class A | 346,207 | 17,022,998 | |
| LPL Financial | 235,495 | 52,166,852 | |
| MarketAxess Holdings, Inc. | 116,839 | 26,117,022 | |
| Morningstar, Inc. | 84,427 | 26,818,237 | |
| MSCI, Inc. | 244,099 | 131,998,975 | |
| NASDAQ, Inc. | 1,303,114 | 88,194,756 | |
| Northern Trust Corp. | 639,821 | 56,720,132 | |
| Raymond James Financial, Inc. | 598,166 | 69,387,256 | |
| Robinhood Markets, Inc. (a) | 2,100,865 | 43,214,793 | |
| SEI Investments Co. | 319,701 | 21,688,516 | |
| State Street Corp. | 953,531 | 81,021,529 | |
| Stifel Financial Corp. | 313,995 | 27,841,937 | |
| T. Rowe Price Group, Inc. | 693,917 | 79,252,261 | |
| TPG, Inc. | 265,757 | 13,550,949 | |
| Tradeweb Markets, Inc. Class A | 367,178 | 41,006,439 | |
| Virtu Financial, Inc. Class A | 260,978 | 7,129,919 | |
| XP, Inc. Class A | 1,290,545 | 22,081,225 | |
| 1,698,590,278 | |||
| Consumer Finance - 0.8% | |||
| Ally Financial, Inc. | 868,172 | 39,076,422 | |
| Credit Acceptance Corp. (a) | 19,664 | 11,304,834 | |
| Discover Financial Services | 791,111 | 113,912,073 | |
| OneMain Holdings, Inc. | 356,993 | 18,656,454 | |
| SLM Corp. | 690,066 | 15,657,598 | |
| SoFi Technologies, Inc. (a)(b) | 3,339,300 | 25,178,322 | |
| Synchrony Financial | 1,268,529 | 64,428,588 | |
| 288,214,291 | |||
| Financial Services - 1.9% | |||
| Affirm Holdings, Inc. Class A, (a)(b) | 720,457 | 20,381,729 | |
| Block, Inc. Class A (a) | 1,765,748 | 109,264,486 | |
| Corebridge Financial, Inc. | 808,607 | 23,894,337 | |
| Corpay, Inc. (a) | 220,552 | 64,361,485 | |
| Equitable Holdings, Inc. | 1,033,481 | 45,070,106 | |
| Euronet Worldwide, Inc. (a) | 136,672 | 13,939,177 | |
| Fidelity National Information Services, Inc. | 1,778,401 | 136,634,549 | |
| Global Payments, Inc. | 816,475 | 82,986,519 | |
| Jack Henry & Associates, Inc. | 232,015 | 39,785,932 | |
| MGIC Investment Corp. | 843,780 | 20,959,495 | |
| Rocket Companies, Inc. (a) | 437,786 | 7,087,755 | |
| Shift4 Payments, Inc. (a)(b) | 190,071 | 13,074,984 | |
| The Western Union Co. | 661,413 | 7,864,201 | |
| Toast, Inc. (a)(b) | 1,403,093 | 36,704,913 | |
| UWM Holdings Corp. Class A (b) | 298,442 | 2,506,913 | |
| Voya Financial, Inc. | 328,698 | 23,906,206 | |
| WEX, Inc. (a) | 136,010 | 24,951,035 | |
| 673,373,822 | |||
| Insurance - 5.2% | |||
| AFLAC, Inc. | 1,809,600 | 172,599,648 | |
| Allstate Corp. | 831,090 | 142,216,121 | |
| American Financial Group, Inc. | 227,019 | 29,730,408 | |
| Arch Capital Group Ltd. (a) | 1,141,281 | 109,311,894 | |
| Arthur J. Gallagher & Co. | 682,878 | 193,589,073 | |
| Assurant, Inc. | 164,521 | 28,769,787 | |
| Assured Guaranty Ltd. | 167,649 | 13,809,248 | |
| Axis Capital Holdings Ltd. | 245,575 | 18,602,306 | |
| Brighthouse Financial, Inc. (a) | 210,901 | 10,517,633 | |
| Brown & Brown, Inc. | 755,536 | 75,122,944 | |
| Cincinnati Financial Corp. | 484,315 | 63,261,225 | |
| CNA Financial Corp. | 69,409 | 3,412,146 | |
| Everest Re Group Ltd. | 136,120 | 53,477,464 | |
| Fidelity National Financial, Inc. | 820,864 | 45,484,074 | |
| First American Financial Corp. | 324,912 | 19,683,169 | |
| Globe Life, Inc. | 302,040 | 28,011,190 | |
| Hanover Insurance Group, Inc. | 112,877 | 15,519,459 | |
| Hartford Financial Services Group, Inc. | 939,195 | 104,175,509 | |
| Kemper Corp. | 191,589 | 12,273,191 | |
| Kinsale Capital Group, Inc. | 69,659 | 31,839,039 | |
| Lincoln National Corp. | 538,103 | 17,918,830 | |
| Loews Corp. | 573,072 | 45,817,106 | |
| Markel Group, Inc. (a) | 40,616 | 66,563,532 | |
| Old Republic International Corp. | 796,821 | 27,585,943 | |
| Primerica, Inc. | 109,299 | 27,518,209 | |
| Principal Financial Group, Inc. | 738,023 | 60,156,255 | |
| Prudential Financial, Inc. | 1,137,226 | 142,517,162 | |
| Reinsurance Group of America, Inc. | 207,770 | 46,837,591 | |
| RenaissanceRe Holdings Ltd. | 164,000 | 38,033,240 | |
| RLI Corp. | 131,020 | 19,730,302 | |
| Ryan Specialty Group Holdings, Inc. (b) | 323,643 | 19,933,172 | |
| Unum Group | 603,643 | 34,727,582 | |
| W.R. Berkley Corp. | 982,482 | 54,164,233 | |
| White Mountains Insurance Group Ltd. | 7,889 | 14,089,754 | |
| Willis Towers Watson PLC | 323,361 | 91,278,343 | |
| 1,878,276,782 | |||
| Mortgage Real Estate Investment Trusts - 0.3% | |||
| AGNC Investment Corp. | 2,195,557 | 21,977,526 | |
| Annaly Capital Management, Inc. | 1,574,644 | 31,351,162 | |
| Rithm Capital Corp. | 1,526,949 | 17,727,878 | |
| Starwood Property Trust, Inc. | 937,438 | 18,701,888 | |
| 89,758,454 | |||
TOTAL FINANCIALS | 5,650,372,316 | ||
| HEALTH CARE - 10.3% | |||
| Biotechnology - 1.7% | |||
| Alnylam Pharmaceuticals, Inc. (a) | 399,531 | 94,872,631 | |
| Apellis Pharmaceuticals, Inc. (a) | 330,312 | 13,080,355 | |
| Biogen, Inc. (a) | 460,873 | 98,258,124 | |
| BioMarin Pharmaceutical, Inc. (a) | 597,309 | 50,371,068 | |
| Cerevel Therapeutics Holdings (a) | 218,124 | 9,806,855 | |
| Exact Sciences Corp. (a) | 577,044 | 26,359,370 | |
| Exelixis, Inc. (a) | 905,426 | 21,232,240 | |
| Grail, Inc. | 83,817 | 1,289,105 | |
| Incyte Corp. (a) | 586,467 | 38,161,408 | |
| Ionis Pharmaceuticals, Inc. (a) | 458,744 | 22,689,478 | |
| Natera, Inc. (a) | 358,009 | 36,656,542 | |
| Neurocrine Biosciences, Inc. (a) | 315,476 | 44,661,937 | |
| Repligen Corp. (a) | 181,403 | 30,357,792 | |
| Roivant Sciences Ltd. (a) | 1,108,601 | 12,028,321 | |
| Sarepta Therapeutics, Inc. (a) | 286,470 | 40,747,493 | |
| Ultragenyx Pharmaceutical, Inc. (a) | 276,030 | 12,426,871 | |
| United Therapeutics Corp. (a) | 138,140 | 43,277,881 | |
| Viking Therapeutics, Inc. (a) | 332,654 | 18,961,278 | |
| 615,238,749 | |||
| Health Care Equipment & Supplies - 2.8% | |||
| Align Technology, Inc. (a) | 240,252 | 55,709,634 | |
| Baxter International, Inc. | 1,643,157 | 58,857,884 | |
| Dentsply Sirona, Inc. | 388,557 | 10,545,437 | |
| DexCom, Inc. (a) | 1,256,197 | 85,195,281 | |
| Enovis Corp. (a) | 192,260 | 9,159,266 | |
| Envista Holdings Corp. (a) | 350,777 | 5,987,763 | |
| GE Healthcare Technologies, Inc. | 1,357,568 | 114,890,980 | |
| Globus Medical, Inc. (a) | 360,681 | 25,954,605 | |
| Hologic, Inc. (a) | 742,828 | 60,622,193 | |
| IDEXX Laboratories, Inc. (a) | 262,492 | 124,977,691 | |
| Inspire Medical Systems, Inc. (a) | 96,694 | 13,638,689 | |
| Insulet Corp. (a) | 223,736 | 43,483,092 | |
| Masimo Corp. (a)(b) | 135,490 | 14,494,720 | |
| Penumbra, Inc. (a) | 120,265 | 20,095,079 | |
| QuidelOrtho Corp. (a) | 170,489 | 6,698,513 | |
| ResMed, Inc. | 462,763 | 98,684,210 | |
| Solventum Corp. | 438,485 | 25,817,997 | |
| STERIS PLC | 315,643 | 75,362,923 | |
| Teleflex, Inc. | 148,970 | 32,910,452 | |
| The Cooper Companies, Inc. | 627,991 | 58,610,400 | |
| Zimmer Biomet Holdings, Inc. | 617,627 | 68,772,766 | |
| 1,010,469,575 | |||
| Health Care Providers & Services - 2.4% | |||
| Acadia Healthcare Co., Inc. (a) | 293,467 | 19,031,335 | |
| Amedisys, Inc. (a) | 101,366 | 9,938,936 | |
| Cardinal Health, Inc. | 770,559 | 77,695,464 | |
| Cencora, Inc. | 531,955 | 126,541,455 | |
| Centene Corp. (a) | 1,687,772 | 129,823,422 | |
| Chemed Corp. | 46,952 | 26,770,152 | |
| DaVita, Inc. (a) | 159,493 | 21,789,934 | |
| Encompass Health Corp. | 313,028 | 29,092,822 | |
| Henry Schein, Inc. (a) | 409,579 | 29,465,113 | |
| Humana, Inc. | 382,662 | 138,374,406 | |
| Labcorp Holdings, Inc. | 265,902 | 57,285,927 | |
| Molina Healthcare, Inc. (a) | 183,713 | 62,695,736 | |
| Premier, Inc. Class A | 376,551 | 7,900,040 | |
| Quest Diagnostics, Inc. | 351,140 | 49,967,222 | |
| R1 RCM, Inc. (a) | 496,157 | 6,390,502 | |
| Tenet Healthcare Corp. (a) | 306,669 | 45,908,349 | |
| Universal Health Services, Inc. Class B | 183,075 | 39,134,112 | |
| 877,804,927 | |||
| Health Care Technology - 0.3% | |||
| Certara, Inc. (a) | 404,742 | 6,318,023 | |
| Doximity, Inc. (a) | 378,801 | 10,606,428 | |
| Veeva Systems, Inc. Class A (a) | 466,629 | 89,560,104 | |
| 106,484,555 | |||
| Life Sciences Tools & Services - 2.5% | |||
| 10X Genomics, Inc. (a) | 120,920 | 2,499,416 | |
| Agilent Technologies, Inc. | 931,754 | 131,750,016 | |
| Avantor, Inc. (a) | 2,145,526 | 57,392,821 | |
| Azenta, Inc. (a) | 181,488 | 11,304,888 | |
| Bio-Rad Laboratories, Inc. Class A (a) | 48,102 | 16,275,793 | |
| Bio-Techne Corp. | 499,157 | 40,726,220 | |
| Bruker Corp. | 339,000 | 23,224,890 | |
| Charles River Laboratories International, Inc. (a) | 161,566 | 39,438,261 | |
| Fortrea Holdings, Inc. (a) | 282,938 | 7,806,259 | |
| Illumina, Inc. (a) | 509,754 | 62,495,840 | |
| IQVIA Holdings, Inc. (a) | 573,392 | 141,186,312 | |
| Medpace Holdings, Inc. (a) | 80,376 | 30,745,428 | |
| Mettler-Toledo International, Inc. (a) | 67,182 | 102,185,837 | |
| QIAGEN NV | 710,697 | 31,618,910 | |
| Revvity, Inc. | 389,185 | 48,885,528 | |
| Sotera Health Co. (a) | 397,218 | 5,509,414 | |
| Waters Corp. (a) | 188,852 | 63,507,151 | |
| West Pharmaceutical Services, Inc. | 231,137 | 70,767,215 | |
| 887,320,199 | |||
| Pharmaceuticals - 0.6% | |||
| Catalent, Inc. (a) | 572,477 | 33,970,785 | |
| Elanco Animal Health, Inc. (a) | 1,557,163 | 20,305,406 | |
| Intra-Cellular Therapies, Inc. (a) | 325,574 | 25,629,185 | |
| Jazz Pharmaceuticals PLC (a) | 196,902 | 21,708,446 | |
| Organon & Co. | 813,740 | 17,788,356 | |
| Perrigo Co. PLC | 428,652 | 12,117,992 | |
| Royalty Pharma PLC | 1,237,948 | 34,872,995 | |
| Viatris, Inc. | 3,754,405 | 45,278,124 | |
| 211,671,289 | |||
TOTAL HEALTH CARE | 3,708,989,294 | ||
| INDUSTRIALS - 17.2% | |||
| Aerospace & Defense - 1.7% | |||
| Axon Enterprise, Inc. (a) | 227,149 | 68,146,971 | |
| BWX Technologies, Inc. | 288,377 | 28,690,628 | |
| Curtiss-Wright Corp. | 120,659 | 35,558,207 | |
| HEICO Corp. | 139,424 | 33,648,588 | |
| HEICO Corp. Class A | 256,923 | 48,843,632 | |
| Hexcel Corp. | 271,703 | 17,989,456 | |
| Howmet Aerospace, Inc. | 1,281,968 | 122,684,338 | |
| Huntington Ingalls Industries, Inc. | 124,915 | 34,973,702 | |
| L3Harris Technologies, Inc. | 599,157 | 135,942,732 | |
| Loar Holdings, Inc. (b) | 32,797 | 2,049,813 | |
| Spirit AeroSystems Holdings, Inc. Class A (a) | 366,753 | 13,294,796 | |
| Textron, Inc. | 601,708 | 55,898,673 | |
| Woodward, Inc. | 188,207 | 29,358,410 | |
| 627,079,946 | |||
| Air Freight & Logistics - 0.3% | |||
| C.H. Robinson Worldwide, Inc. | 367,471 | 32,723,293 | |
| Expeditors International of Washington, Inc. | 446,565 | 55,740,243 | |
| GXO Logistics, Inc. (a) | 387,075 | 21,668,459 | |
| 110,131,995 | |||
| Building Products - 1.5% | |||
| A.O. Smith Corp. | 380,161 | 32,328,891 | |
| AAON, Inc. | 216,008 | 19,123,188 | |
| Advanced Drain Systems, Inc. | 210,189 | 37,211,861 | |
| Allegion PLC | 276,650 | 37,848,487 | |
| Armstrong World Industries, Inc. | 137,417 | 18,056,594 | |
| Builders FirstSource, Inc. (a) | 382,122 | 63,955,759 | |
| Carlisle Companies, Inc. | 150,530 | 63,008,847 | |
| Fortune Brands Innovations, Inc. | 394,488 | 31,878,575 | |
| Hayward Holdings, Inc. (a) | 450,925 | 6,669,181 | |
| Lennox International, Inc. | 101,394 | 59,163,399 | |
| Masco Corp. | 696,136 | 54,194,188 | |
| Owens Corning | 272,897 | 50,862,543 | |
| Simpson Manufacturing Co. Ltd. | 134,051 | 25,749,857 | |
| The AZEK Co., Inc. Class A, (a) | 454,080 | 20,383,651 | |
| Trex Co., Inc. (a) | 342,813 | 28,669,451 | |
| 549,104,472 | |||
| Commercial Services & Supplies - 0.8% | |||
| Clean Harbors, Inc. (a) | 163,050 | 38,924,927 | |
| MSA Safety, Inc. | 117,055 | 22,082,426 | |
| RB Global, Inc. (b) | 579,202 | 46,121,855 | |
| Rollins, Inc. | 883,940 | 42,349,565 | |
| Stericycle, Inc. (a) | 291,554 | 17,070,487 | |
| Tetra Tech, Inc. | 168,577 | 35,947,359 | |
| Veralto Corp. | 781,317 | 83,257,140 | |
| Vestis Corp. | 415,841 | 5,393,458 | |
| 291,147,217 | |||
| Construction & Engineering - 1.0% | |||
| AECOM | 429,331 | 38,901,682 | |
| API Group Corp. (a) | 719,373 | 27,257,043 | |
| Comfort Systems U.S.A., Inc. | 111,169 | 36,954,799 | |
| EMCOR Group, Inc. | 147,062 | 55,212,957 | |
| MasTec, Inc. (a) | 198,179 | 21,805,635 | |
| MDU Resources Group, Inc. | 642,414 | 17,306,633 | |
| Quanta Services, Inc. | 459,535 | 121,951,398 | |
| Valmont Industries, Inc. | 62,952 | 18,782,359 | |
| Willscot Holdings Corp. (a) | 584,152 | 23,950,232 | |
| 362,122,738 | |||
| Electrical Equipment - 1.5% | |||
| Acuity Brands, Inc. | 97,394 | 24,479,982 | |
| AMETEK, Inc. | 730,400 | 126,709,792 | |
| Generac Holdings, Inc. (a) | 186,229 | 28,992,131 | |
| Hubbell, Inc. | 169,383 | 67,016,384 | |
| nVent Electric PLC | 522,506 | 37,949,611 | |
| Regal Rexnord Corp. | 209,970 | 33,737,980 | |
| Rockwell Automation, Inc. | 362,591 | 101,035,982 | |
| Sensata Technologies PLC | 472,645 | 18,428,429 | |
| Vertiv Holdings Co. | 1,132,615 | 89,136,801 | |
| 527,487,092 | |||
| Ground Transportation - 1.0% | |||
| Avis Budget Group, Inc. | 54,382 | 5,493,126 | |
| J.B. Hunt Transport Services, Inc. | 265,042 | 45,892,022 | |
| Knight-Swift Transportation Holdings, Inc. | 506,480 | 27,567,706 | |
| Landstar System, Inc. | 112,504 | 21,403,886 | |
| Lyft, Inc. (a) | 1,141,868 | 13,759,509 | |
| Old Dominion Freight Lines, Inc. | 623,767 | 131,103,348 | |
| Ryder System, Inc. | 136,269 | 19,099,463 | |
| Saia, Inc. (a) | 83,767 | 35,002,041 | |
| Schneider National, Inc. Class B (b) | 167,945 | 4,519,400 | |
| U-Haul Holding Co. (a)(b) | 24,615 | 1,644,036 | |
| U-Haul Holding Co. (non-vtg.) | 316,938 | 20,198,459 | |
| XPO, Inc. (a) | 361,596 | 41,543,764 | |
| 367,226,760 | |||
| Machinery - 3.9% | |||
| AGCO Corp. | 202,873 | 19,155,269 | |
| Allison Transmission Holdings, Inc. | 276,450 | 24,490,706 | |
| CNH Industrial NV | 2,804,526 | 29,868,202 | |
| Crane Co. | 154,685 | 24,814,568 | |
| Cummins, Inc. | 432,257 | 126,132,593 | |
| Donaldson Co., Inc. | 379,796 | 28,416,337 | |
| Dover Corp. | 433,810 | 79,933,831 | |
| ESAB Corp. | 178,853 | 18,171,465 | |
| Flowserve Corp. | 415,338 | 20,995,336 | |
| Fortive Corp. | 1,113,214 | 79,984,426 | |
| Gates Industrial Corp. PLC (a) | 648,211 | 12,050,242 | |
| Graco, Inc. | 529,080 | 44,998,254 | |
| IDEX Corp. | 239,625 | 49,957,020 | |
| Ingersoll Rand, Inc. | 1,276,821 | 128,192,828 | |
| ITT, Inc. | 260,605 | 36,865,183 | |
| Lincoln Electric Holdings, Inc. | 174,568 | 35,858,013 | |
| Middleby Corp. (a) | 168,422 | 22,834,655 | |
| Nordson Corp. | 179,484 | 44,930,230 | |
| Oshkosh Corp. | 206,325 | 22,417,211 | |
| Otis Worldwide Corp. | 1,278,161 | 120,786,215 | |
| Pentair PLC | 522,250 | 45,890,108 | |
| RBC Bearings, Inc. (a)(b) | 89,897 | 26,145,643 | |
| Snap-On, Inc. | 163,658 | 46,974,756 | |
| Stanley Black & Decker, Inc. | 486,153 | 51,347,480 | |
| Timken Co. | 204,381 | 17,770,928 | |
| Toro Co. | 330,296 | 31,619,236 | |
| Westinghouse Air Brake Tech Co. | 553,411 | 89,182,183 | |
| Xylem, Inc. | 764,490 | 102,059,415 | |
| 1,381,842,333 | |||
| Marine Transportation - 0.1% | |||
| Kirby Corp. (a) | 183,479 | 22,545,900 | |
| Passenger Airlines - 0.6% | |||
| Alaska Air Group, Inc. (a) | 396,890 | 14,895,282 | |
| American Airlines Group, Inc. (a)(b) | 1,407,429 | 14,975,045 | |
| Delta Air Lines, Inc. | 2,093,663 | 90,069,382 | |
| Southwest Airlines Co. | 1,949,277 | 52,513,522 | |
| United Airlines Holdings, Inc. (a) | 1,035,598 | 47,036,861 | |
| 219,490,092 | |||
| Professional Services - 2.8% | |||
| Booz Allen Hamilton Holding Corp. Class A | 405,052 | 58,048,002 | |
| Broadridge Financial Solutions, Inc. | 370,439 | 79,273,946 | |
| CACI International, Inc. (a) | 69,818 | 32,219,611 | |
| Clarivate PLC (a)(b) | 553,545 | 3,730,893 | |
| Concentrix Corp. (b) | 150,222 | 10,590,651 | |
| Dayforce, Inc. (a)(b) | 480,374 | 28,476,571 | |
| Dun & Bradstreet Holdings, Inc. | 956,591 | 10,407,710 | |
| Equifax, Inc. | 390,231 | 109,018,834 | |
| FTI Consulting, Inc. (a) | 111,235 | 24,245,893 | |
| Genpact Ltd. | 555,613 | 19,263,103 | |
| Jacobs Solutions, Inc. | 394,354 | 57,713,708 | |
| KBR, Inc. | 420,967 | 28,032,193 | |
| Leidos Holdings, Inc. | 426,476 | 61,583,134 | |
| ManpowerGroup, Inc. | 162,327 | 12,431,002 | |
| Parsons Corp. (a) | 144,701 | 13,221,330 | |
| Paychex, Inc. | 1,021,006 | 130,709,188 | |
| Paycom Software, Inc. | 161,072 | 26,865,199 | |
| Paycor HCM, Inc. (a) | 229,557 | 2,848,802 | |
| Paylocity Holding Corp. (a) | 142,581 | 21,397,131 | |
| Robert Half, Inc. | 323,250 | 20,749,418 | |
| Science Applications International Corp. | 161,617 | 20,105,155 | |
| SS&C Technologies Holdings, Inc. | 679,812 | 49,592,285 | |
| TransUnion | 619,539 | 55,919,590 | |
| Verisk Analytics, Inc. | 450,628 | 117,951,879 | |
| 994,395,228 | |||
| Trading Companies & Distributors - 2.0% | |||
| Air Lease Corp. Class A | 329,861 | 16,367,703 | |
| Core & Main, Inc. (a) | 524,769 | 28,059,398 | |
| Fastenal Co. | 1,811,005 | 128,128,604 | |
| Ferguson PLC | 640,040 | 142,504,906 | |
| MSC Industrial Direct Co., Inc. Class A | 149,936 | 13,336,807 | |
| SiteOne Landscape Supply, Inc. (a) | 144,055 | 21,129,987 | |
| United Rentals, Inc. | 210,211 | 159,150,748 | |
| W.W. Grainger, Inc. | 137,677 | 134,484,270 | |
| Watsco, Inc. | 109,388 | 53,544,332 | |
| WESCO International, Inc. | 140,266 | 24,539,537 | |
| 721,246,292 | |||
TOTAL INDUSTRIALS | 6,173,820,065 | ||
| INFORMATION TECHNOLOGY - 12.4% | |||
| Communications Equipment - 0.3% | |||
| Ciena Corp. (a) | 455,270 | 24,010,940 | |
| F5, Inc. (a) | 184,764 | 37,625,341 | |
| Juniper Networks, Inc. | 1,016,829 | 38,324,285 | |
| Lumentum Holdings, Inc. (a) | 211,085 | 10,929,981 | |
| Ubiquiti, Inc. (b) | 13,179 | 2,445,627 | |
| 113,336,174 | |||
| Electronic Equipment, Instruments & Components - 1.8% | |||
| Arrow Electronics, Inc. (a) | 175,789 | 21,743,341 | |
| Avnet, Inc. | 290,915 | 15,639,590 | |
| CDW Corp. | 425,027 | 92,702,639 | |
| Cognex Corp. | 543,679 | 26,977,352 | |
| Coherent Corp. (a) | 418,143 | 29,136,204 | |
| Corning, Inc. | 2,424,907 | 97,020,529 | |
| Crane NXT Co. | 155,021 | 9,747,720 | |
| IPG Photonics Corp. (a) | 52,519 | 4,222,528 | |
| Jabil, Inc. | 374,969 | 42,247,757 | |
| Keysight Technologies, Inc. (a) | 557,227 | 77,772,172 | |
| Littelfuse, Inc. | 79,527 | 21,242,457 | |
| TD SYNNEX Corp. | 238,389 | 28,408,817 | |
| Teledyne Technologies, Inc. (a) | 149,372 | 63,014,072 | |
| Trimble, Inc. (a) | 770,375 | 42,016,253 | |
| Vontier Corp. | 488,447 | 19,161,776 | |
| Zebra Technologies Corp. Class A (a) | 161,791 | 56,819,381 | |
| 647,872,588 | |||
| IT Services - 2.1% | |||
| Akamai Technologies, Inc. (a) | 486,328 | 47,796,316 | |
| Amdocs Ltd. | 375,622 | 32,855,656 | |
| Cloudflare, Inc. (a) | 948,681 | 73,522,778 | |
| Cognizant Technology Solutions Corp. Class A | 1,589,193 | 120,270,126 | |
| DXC Technology Co. (a)(b) | 428,346 | 8,712,558 | |
| EPAM Systems, Inc. (a) | 175,731 | 37,805,010 | |
| Gartner, Inc. (a) | 239,351 | 119,960,328 | |
| Globant SA (a) | 135,755 | 26,432,856 | |
| GoDaddy, Inc. (a) | 447,259 | 65,053,822 | |
| Kyndryl Holdings, Inc. (a) | 719,106 | 19,322,378 | |
| MongoDB, Inc. Class A (a) | 218,118 | 55,044,258 | |
| Okta, Inc. (a) | 488,876 | 45,925,011 | |
| Twilio, Inc. Class A (a) | 567,524 | 33,557,694 | |
| VeriSign, Inc. (a) | 258,288 | 48,302,439 | |
| 734,561,230 | |||
| Semiconductors & Semiconductor Equipment - 2.5% | |||
| Allegro MicroSystems LLC (a) | 264,054 | 6,347,858 | |
| Amkor Technology, Inc. | 356,591 | 11,646,262 | |
| Astera Labs, Inc. (b) | 69,681 | 3,054,815 | |
| Cirrus Logic, Inc. (a) | 170,058 | 22,189,168 | |
| Enphase Energy, Inc. (a) | 416,814 | 47,979,460 | |
| Entegris, Inc. | 476,328 | 56,344,839 | |
| First Solar, Inc. (a) | 337,291 | 72,851,483 | |
| GlobalFoundries, Inc. (a)(b) | 311,005 | 15,864,365 | |
| Lattice Semiconductor Corp. (a) | 439,102 | 23,272,406 | |
| MACOM Technology Solutions Holdings, Inc. (a) | 176,445 | 17,806,829 | |
| Microchip Technology, Inc. | 1,681,914 | 149,320,325 | |
| MKS Instruments, Inc. | 211,463 | 26,623,192 | |
| Monolithic Power Systems, Inc. | 148,583 | 128,240,501 | |
| ON Semiconductor Corp. (a) | 1,366,845 | 106,955,621 | |
| Onto Innovation, Inc. (a) | 154,907 | 29,633,709 | |
| Qorvo, Inc. (a) | 304,704 | 36,503,539 | |
| Skyworks Solutions, Inc. | 508,091 | 57,729,299 | |
| Teradyne, Inc. | 484,138 | 63,499,540 | |
| Universal Display Corp. | 147,547 | 32,846,913 | |
| Wolfspeed, Inc. (a)(b) | 267,270 | 5,038,040 | |
| 913,748,164 | |||
| Software - 4.3% | |||
| ANSYS, Inc. (a) | 277,294 | 86,967,717 | |
| AppFolio, Inc. Class A, (a) | 69,539 | 15,401,498 | |
| AppLovin Corp. Class A, (a) | 829,749 | 63,973,648 | |
| Aspen Technology, Inc. (a) | 85,064 | 15,987,779 | |
| Bentley Systems, Inc. Class B | 455,868 | 22,219,006 | |
| Bill Holdings, Inc. (a) | 323,934 | 16,183,743 | |
| CCC Intelligent Solutions Holdings, Inc. Class A (a) | 1,448,723 | 14,863,898 | |
| Confluent, Inc. (a)(b) | 764,603 | 19,130,367 | |
| Datadog, Inc. Class A (a) | 949,282 | 110,534,396 | |
| DocuSign, Inc. (a) | 642,673 | 35,655,498 | |
| Dolby Laboratories, Inc. Class A | 184,872 | 14,560,519 | |
| DoubleVerify Holdings, Inc. (a) | 492,997 | 10,412,097 | |
| Dropbox, Inc. Class A (a) | 828,795 | 19,824,776 | |
| Dynatrace, Inc. (a) | 841,910 | 36,976,687 | |
| Elastic NV (a) | 257,353 | 28,223,904 | |
| Fair Isaac Corp. (a) | 76,027 | 121,643,200 | |
| Five9, Inc. (a) | 231,789 | 10,326,200 | |
| Gen Digital, Inc. | 1,780,317 | 46,270,439 | |
| GitLab, Inc. (a) | 374,769 | 19,199,416 | |
| Guidewire Software, Inc. (a) | 258,896 | 38,852,523 | |
| HashiCorp, Inc. (a) | 304,270 | 10,269,113 | |
| HubSpot, Inc. (a) | 155,462 | 77,269,278 | |
| Informatica, Inc. (a) | 202,000 | 4,835,880 | |
| Manhattan Associates, Inc. (a) | 193,741 | 49,477,577 | |
| MicroStrategy, Inc. Class A (a)(b) | 49,542 | 79,982,586 | |
| nCino, Inc. (a) | 261,020 | 8,551,015 | |
| Nutanix, Inc. Class A (a) | 768,175 | 38,800,519 | |
| Palantir Technologies, Inc. Class A (a) | 6,365,617 | 171,171,441 | |
| Pegasystems, Inc. | 141,001 | 9,830,590 | |
| Procore Technologies, Inc. (a) | 341,102 | 24,228,475 | |
| PTC, Inc. (a) | 377,054 | 67,059,054 | |
| RingCentral, Inc. (a) | 259,875 | 9,108,619 | |
| SentinelOne, Inc. (a) | 725,071 | 16,604,126 | |
| Smartsheet, Inc. (a) | 412,487 | 19,782,877 | |
| Teradata Corp. (a) | 330,365 | 10,710,433 | |
| Tyler Technologies, Inc. (a) | 134,111 | 76,189,800 | |
| UiPath, Inc. Class A (a) | 1,292,229 | 15,726,427 | |
| Unity Software, Inc. (a)(b) | 557,253 | 9,116,659 | |
| Zoom Video Communications, Inc. Class A (a) | 669,284 | 40,424,754 | |
| Zscaler, Inc. (a) | 289,604 | 51,940,477 | |
| 1,538,287,011 | |||
| Technology Hardware, Storage & Peripherals - 1.4% | |||
| Hewlett Packard Enterprise Co. | 4,104,938 | 81,729,316 | |
| HP, Inc. | 3,094,278 | 111,672,493 | |
| NetApp, Inc. | 651,815 | 82,767,469 | |
| Pure Storage, Inc. Class A (a) | 917,320 | 54,974,988 | |
| Super Micro Computer, Inc. (a) | 156,742 | 109,978,024 | |
| Western Digital Corp. (a) | 1,032,195 | 69,208,675 | |
| 510,330,965 | |||
TOTAL INFORMATION TECHNOLOGY | 4,458,136,132 | ||
| MATERIALS - 6.0% | |||
| Chemicals - 2.8% | |||
| Albemarle Corp. (b) | 371,080 | 34,759,064 | |
| Ashland, Inc. | 157,963 | 15,267,124 | |
| Axalta Coating Systems Ltd. (a) | 696,656 | 24,835,786 | |
| Celanese Corp. | 352,337 | 49,732,368 | |
| CF Industries Holdings, Inc. | 592,191 | 45,237,470 | |
| Corteva, Inc. | 2,213,115 | 124,155,752 | |
| Dow, Inc. | 2,226,713 | 121,289,057 | |
| DuPont de Nemours, Inc. | 1,323,095 | 110,743,052 | |
| Eastman Chemical Co. | 369,919 | 38,223,730 | |
| Element Solutions, Inc. | 707,870 | 19,077,097 | |
| FMC Corp. | 393,856 | 22,985,436 | |
| Huntsman Corp. | 552,448 | 13,220,081 | |
| International Flavors & Fragrances, Inc. | 808,941 | 80,473,451 | |
| LyondellBasell Industries NV Class A | 823,543 | 81,909,587 | |
| NewMarket Corp. | 21,275 | 11,932,509 | |
| Olin Corp. | 389,137 | 17,748,539 | |
| PPG Industries, Inc. | 739,354 | 93,883,171 | |
| RPM International, Inc. | 402,079 | 48,836,515 | |
| The Chemours Co. LLC | 489,102 | 11,821,595 | |
| The Mosaic Co. | 1,011,966 | 30,126,228 | |
| The Scotts Miracle-Gro Co. | 134,333 | 10,558,574 | |
| Westlake Corp. | 106,053 | 15,680,997 | |
| 1,022,497,183 | |||
| Construction Materials - 0.7% | |||
| Eagle Materials, Inc. | 107,828 | 29,361,564 | |
| Martin Marietta Materials, Inc. | 193,941 | 115,074,892 | |
| Vulcan Materials Co. | 418,644 | 114,921,964 | |
| 259,358,420 | |||
| Containers & Packaging - 1.3% | |||
| Amcor PLC | 4,549,790 | 47,909,289 | |
| Aptargroup, Inc. | 208,794 | 30,688,542 | |
| Avery Dennison Corp. | 253,439 | 54,953,178 | |
| Ball Corp. | 984,999 | 62,872,486 | |
| Berry Global Group, Inc. | 374,613 | 24,619,566 | |
| Crown Holdings, Inc. | 378,089 | 33,536,494 | |
| Graphic Packaging Holding Co. | 961,860 | 28,951,986 | |
| International Paper Co. | 1,095,863 | 50,935,712 | |
| Packaging Corp. of America | 280,434 | 56,050,344 | |
| Sealed Air Corp. | 460,133 | 17,508,061 | |
| Silgan Holdings, Inc. | 262,139 | 13,481,809 | |
| Smurfit Westrock PLC | 809,098 | 36,279,954 | |
| Sonoco Products Co. | 318,290 | 17,162,197 | |
| 474,949,618 | |||
| Metals & Mining - 1.1% | |||
| Alcoa Corp. | 792,562 | 26,186,248 | |
| ATI, Inc. (a) | 390,281 | 26,425,927 | |
| Cleveland-Cliffs, Inc. (a) | 1,509,653 | 23,173,174 | |
| MP Materials Corp. (a)(b) | 414,262 | 5,600,822 | |
| Nucor Corp. | 748,950 | 122,033,913 | |
| Reliance, Inc. | 180,632 | 55,013,282 | |
| Royal Gold, Inc. | 207,722 | 28,690,563 | |
| Steel Dynamics, Inc. | 470,153 | 62,633,783 | |
| United States Steel Corp. | 704,758 | 28,958,506 | |
| 378,716,218 | |||
| Paper & Forest Products - 0.1% | |||
| Louisiana-Pacific Corp. | 203,751 | 20,000,198 | |
TOTAL MATERIALS | 2,155,521,637 | ||
| REAL ESTATE - 7.8% | |||
| Equity Real Estate Investment Trusts (REITs) - 7.0% | |||
| Agree Realty Corp. | 313,254 | 21,605,128 | |
| Alexandria Real Estate Equities, Inc. | 547,965 | 64,270,815 | |
| American Homes 4 Rent Class A | 1,067,962 | 38,542,749 | |
| Americold Realty Trust | 912,035 | 27,260,726 | |
| AvalonBay Communities, Inc. | 444,060 | 90,996,775 | |
| Brixmor Property Group, Inc. | 947,778 | 24,139,906 | |
| BXP, Inc. | 496,749 | 35,423,171 | |
| Camden Property Trust (SBI) | 327,298 | 36,248,254 | |
| Cousins Properties, Inc. | 499,255 | 13,734,505 | |
| Crown Castle, Inc. | 1,375,451 | 151,409,646 | |
| CubeSmart | 707,714 | 33,673,032 | |
| Digital Realty Trust, Inc. | 1,021,754 | 152,742,005 | |
| EastGroup Properties, Inc. | 151,097 | 28,253,628 | |
| EPR Properties | 236,319 | 10,634,355 | |
| Equity Lifestyle Properties, Inc. | 582,879 | 40,032,130 | |
| Equity Residential (SBI) | 1,194,943 | 83,203,881 | |
| Essex Property Trust, Inc. | 201,944 | 56,213,132 | |
| Extra Space Storage, Inc. | 661,660 | 105,614,169 | |
| Federal Realty Investment Trust (SBI) | 260,684 | 29,105,369 | |
| First Industrial Realty Trust, Inc. | 417,703 | 22,856,708 | |
| Gaming & Leisure Properties | 823,891 | 41,359,328 | |
| Healthcare Realty Trust, Inc. | 1,202,538 | 21,272,897 | |
| Healthpeak Properties, Inc. | 2,242,459 | 48,930,455 | |
| Highwoods Properties, Inc. (SBI) | 329,854 | 10,215,578 | |
| Host Hotels & Resorts, Inc. | 2,204,675 | 38,603,859 | |
| Invitation Homes, Inc. | 1,919,464 | 67,699,495 | |
| Iron Mountain, Inc. | 921,076 | 94,465,555 | |
| Kilroy Realty Corp. | 369,653 | 13,666,071 | |
| Kimco Realty Corp. | 2,083,771 | 45,280,344 | |
| Lamar Advertising Co. Class A | 275,432 | 33,013,280 | |
| Medical Properties Trust, Inc. (b) | 1,877,481 | 9,030,684 | |
| Mid-America Apartment Communities, Inc. | 367,336 | 51,342,553 | |
| National Storage Affiliates Trust | 226,547 | 9,644,106 | |
| NNN (REIT), Inc. | 573,287 | 25,734,853 | |
| Omega Healthcare Investors, Inc. | 780,411 | 28,406,960 | |
| Park Hotels & Resorts, Inc. | 656,846 | 9,892,101 | |
| Rayonier, Inc. | 467,260 | 14,171,996 | |
| Realty Income Corp. | 2,726,807 | 156,600,526 | |
| Regency Centers Corp. | 581,440 | 39,154,170 | |
| Rexford Industrial Realty, Inc. | 693,002 | 34,726,330 | |
| SBA Communications Corp. Class A | 341,827 | 75,044,700 | |
| Simon Property Group, Inc. | 1,023,588 | 157,059,343 | |
| STAG Industrial, Inc. | 572,346 | 23,357,440 | |
| Sun Communities, Inc. | 390,151 | 49,443,836 | |
| UDR, Inc. | 1,038,420 | 41,609,489 | |
| Ventas, Inc. | 1,275,781 | 69,453,518 | |
| VICI Properties, Inc. | 3,298,173 | 103,100,888 | |
| Vornado Realty Trust | 554,319 | 16,624,027 | |
| Weyerhaeuser Co. | 2,306,090 | 73,241,418 | |
| WP Carey, Inc. | 685,413 | 39,623,726 | |
| 2,507,729,610 | |||
| Real Estate Management & Development - 0.8% | |||
| CBRE Group, Inc. (a) | 967,749 | 109,074,990 | |
| CoStar Group, Inc. (a) | 1,284,073 | 100,183,375 | |
| Howard Hughes Holdings, Inc. | 103,677 | 7,689,723 | |
| Jones Lang LaSalle, Inc. (a) | 149,461 | 37,499,765 | |
| Zillow Group, Inc.: | |||
| Class A (a) | 156,566 | 7,421,228 | |
| Class C (a) | 501,617 | 24,428,748 | |
| 286,297,829 | |||
TOTAL REAL ESTATE | 2,794,027,439 | ||
| UTILITIES - 5.4% | |||
| Electric Utilities - 2.7% | |||
| Alliant Energy Corp. | 810,545 | 45,114,935 | |
| Avangrid, Inc. | 224,340 | 8,002,208 | |
| Edison International | 1,203,526 | 96,294,115 | |
| Entergy Corp. | 674,421 | 78,212,603 | |
| Evergy, Inc. | 704,438 | 40,857,404 | |
| Eversource Energy | 1,119,898 | 72,692,579 | |
| Exelon Corp. | 3,177,603 | 118,206,832 | |
| FirstEnergy Corp. | 1,800,743 | 75,469,139 | |
| IDACORP, Inc. | 159,931 | 15,633,255 | |
| NRG Energy, Inc. | 676,456 | 50,849,198 | |
| OGE Energy Corp. | 632,278 | 24,513,418 | |
| PG&E Corp. | 6,763,361 | 123,431,338 | |
| Pinnacle West Capital Corp. | 359,118 | 30,736,910 | |
| PPL Corp. | 2,313,893 | 68,768,900 | |
| Xcel Energy, Inc. | 1,759,665 | 102,553,276 | |
| 951,336,110 | |||
| Gas Utilities - 0.3% | |||
| Atmos Energy Corp. | 475,866 | 60,853,744 | |
| National Fuel Gas Co. | 288,139 | 16,882,064 | |
| UGI Corp. | 663,691 | 16,446,263 | |
| 94,182,071 | |||
| Independent Power and Renewable Electricity Producers - 0.4% | |||
| Brookfield Renewable Corp. (b) | 427,377 | 12,009,294 | |
| Clearway Energy, Inc.: | |||
| Class A | 110,139 | 2,712,724 | |
| Class C | 258,714 | 6,902,490 | |
| The AES Corp. | 2,267,695 | 40,342,294 | |
| Vistra Corp. | 1,089,904 | 86,342,195 | |
| 148,308,997 | |||
| Multi-Utilities - 1.7% | |||
| Ameren Corp. | 846,744 | 67,121,397 | |
| CenterPoint Energy, Inc. | 2,003,992 | 55,610,778 | |
| CMS Energy Corp. | 941,524 | 61,010,755 | |
| Consolidated Edison, Inc. | 1,095,709 | 106,853,542 | |
| DTE Energy Co. | 654,023 | 78,829,392 | |
| NiSource, Inc. | 1,418,716 | 44,334,875 | |
| Public Service Enterprise Group, Inc. | 1,577,693 | 125,852,571 | |
| WEC Energy Group, Inc. | 1,000,615 | 86,112,927 | |
| 625,726,237 | |||
| Water Utilities - 0.3% | |||
| American Water Works Co., Inc. | 617,043 | 87,842,241 | |
| Essential Utilities, Inc. | 796,472 | 32,376,587 | |
| 120,218,828 | |||
TOTAL UTILITIES | 1,939,772,243 | ||
| TOTAL COMMON STOCKS (Cost $28,212,685,193) | 35,724,021,558 | ||
| U.S. Treasury Obligations - 0.0% | |||
Principal Amount (c) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.31% 8/22/24 (d) (Cost $7,241,788) | 7,264,000 | 7,241,647 | |
| Money Market Funds - 1.6% | |||
| Shares | Value ($) | ||
| Fidelity Cash Central Fund 5.39% (e) | 133,237,874 | 133,264,521 | |
| Fidelity Securities Lending Cash Central Fund 5.39% (e)(f) | 448,188,709 | 448,233,528 | |
| TOTAL MONEY MARKET FUNDS (Cost $581,494,133) | 581,498,049 | ||
| TOTAL INVESTMENT IN SECURITIES - 101.2% (Cost $28,801,421,114) | 36,312,761,254 |
NET OTHER ASSETS (LIABILITIES) - (1.2)% (g) | (448,030,348) |
| NET ASSETS - 100.0% | 35,864,730,906 |
| Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
| Purchased | |||||
| Equity Index Contracts | |||||
| CME E-mini S&P MidCap 400 Index Contracts (United States) | 515 | Sep 2024 | 160,685,150 | 6,226,934 | 6,226,934 |
| The notional amount of futures purchased as a percentage of Net Assets is 0.4% | |||||
Legend
| (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 $7,241,647. |
| (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. |
| (g) | Includes $501,572 of cash collateral to cover margin requirements for futures contracts. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
| Affiliate | Value, beginning of period ($) | 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% | 115,755,141 | 496,774,747 | 479,261,456 | 966,004 | (3,911) | - | 133,264,521 | 0.3% |
| Fidelity Securities Lending Cash Central Fund 5.39% | 399,402,174 | 740,379,419 | 691,548,065 | 1,375,419 | - | - | 448,233,528 | 2.0% |
| Total | 515,157,315 | 1,237,154,166 | 1,170,809,521 | 2,341,423 | (3,911) | - | 581,498,049 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
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. 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. 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.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
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.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
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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