Quarterly Holdings Report
for
Fidelity® U.S. Sustainability Index Fund
July 31, 2024
USY-NPRT3-0924
1.9883817.107
| Common Stocks - 86.0% | |||
| Shares | Value ($) | ||
| COMMUNICATION SERVICES - 8.5% | |||
| Diversified Telecommunication Services - 0.6% | |||
| Verizon Communications, Inc. | 583,958 | 23,661,978 | |
| Entertainment - 0.9% | |||
| Electronic Arts, Inc. | 41,884 | 6,321,971 | |
| Take-Two Interactive Software, Inc. (a) | 26,713 | 4,021,108 | |
| The Walt Disney Co. | 269,126 | 25,214,415 | |
| 35,557,494 | |||
| Interactive Media & Services - 6.3% | |||
| Alphabet, Inc.: | |||
| Class A | 823,241 | 141,218,761 | |
| Class C | 724,282 | 125,409,428 | |
| 266,628,189 | |||
| Media - 0.7% | |||
| Charter Communications, Inc. Class A (a) | 9,955 | 3,780,113 | |
| Comcast Corp. Class A | 538,203 | 22,211,638 | |
| Fox Corp. Class A | 36,696 | 1,395,916 | |
| Interpublic Group of Companies, Inc. | 41,039 | 1,320,225 | |
| Omnicom Group, Inc. | 24,449 | 2,396,980 | |
| 31,104,872 | |||
TOTAL COMMUNICATION SERVICES | 356,952,533 | ||
| CONSUMER DISCRETIONARY - 8.4% | |||
| Automobile Components - 0.1% | |||
| Aptiv PLC (a) | 38,313 | 2,658,539 | |
| Automobiles - 2.4% | |||
| Rivian Automotive, Inc. (a) | 110,117 | 1,807,020 | |
| Tesla, Inc. (a) | 423,009 | 98,167,699 | |
| 99,974,719 | |||
| Broadline Retail - 0.2% | |||
| eBay, Inc. | 4,612 | 256,473 | |
| MercadoLibre, Inc. (a) | 6,203 | 10,352,187 | |
| 10,608,660 | |||
| Distributors - 0.1% | |||
| Genuine Parts Co. | 18,853 | 2,773,465 | |
| LKQ Corp. | 37,030 | 1,536,745 | |
| Pool Corp. | 5,936 | 2,220,301 | |
| 6,530,511 | |||
| Hotels, Restaurants & Leisure - 1.7% | |||
| Booking Holdings, Inc. | 4,935 | 18,333,574 | |
| Darden Restaurants, Inc. | 7,612 | 1,113,559 | |
| Domino's Pizza, Inc. | 5,369 | 2,301,690 | |
| Doordash, Inc. (a) | 44,590 | 4,937,005 | |
| Hilton Worldwide Holdings, Inc. | 35,575 | 7,636,885 | |
| McDonald's Corp. | 99,941 | 26,524,341 | |
| Royal Caribbean Cruises Ltd. | 35,505 | 5,564,344 | |
| Yum! Brands, Inc. | 33,714 | 4,478,231 | |
| 70,889,629 | |||
| Household Durables - 0.4% | |||
| D.R. Horton, Inc. | 40,673 | 7,318,293 | |
| NVR, Inc. (a) | 441 | 3,795,899 | |
| PulteGroup, Inc. | 35,573 | 4,695,636 | |
| 15,809,828 | |||
| Specialty Retail - 3.0% | |||
| AutoZone, Inc. (a) | 2,395 | 7,505,188 | |
| Bath & Body Works, Inc. | 30,033 | 1,103,713 | |
| Best Buy Co., Inc. | 27,085 | 2,343,394 | |
| Burlington Stores, Inc. (a) | 10,361 | 2,697,176 | |
| CarMax, Inc. (a) | 21,832 | 1,843,494 | |
| Dick's Sporting Goods, Inc. | 10,037 | 2,171,505 | |
| Lowe's Companies, Inc. | 79,683 | 19,562,973 | |
| O'Reilly Automotive, Inc. (a) | 6,921 | 7,795,399 | |
| The Home Depot, Inc. | 141,213 | 51,988,978 | |
| TJX Companies, Inc. | 157,951 | 17,851,622 | |
| Tractor Supply Co. | 15,022 | 3,955,593 | |
| Ulta Beauty, Inc. (a) | 6,797 | 2,480,157 | |
| Williams-Sonoma, Inc. | 23,522 | 3,638,383 | |
| 124,937,575 | |||
| Textiles, Apparel & Luxury Goods - 0.5% | |||
| Deckers Outdoor Corp. (a) | 3,976 | 3,668,377 | |
| lululemon athletica, Inc. (a) | 15,927 | 4,119,678 | |
| NIKE, Inc. Class B | 169,009 | 12,652,014 | |
| 20,440,069 | |||
TOTAL CONSUMER DISCRETIONARY | 351,849,530 | ||
| CONSUMER STAPLES - 4.4% | |||
| Beverages - 1.8% | |||
| Keurig Dr. Pepper, Inc. | 147,197 | 5,045,913 | |
| PepsiCo, Inc. | 191,106 | 32,998,273 | |
| The Coca-Cola Co. | 570,531 | 38,077,239 | |
| 76,121,425 | |||
| Consumer Staples Distribution & Retail - 0.4% | |||
| Kroger Co. | 74,988 | 4,086,846 | |
| Target Corp. | 64,113 | 9,643,236 | |
| Walgreens Boots Alliance, Inc. | 60,241 | 715,061 | |
| 14,445,143 | |||
| Food Products - 0.4% | |||
| Bunge Global SA | 20,829 | 2,191,836 | |
| Campbell Soup Co. | 26,648 | 1,248,725 | |
| Conagra Brands, Inc. | 66,116 | 2,004,637 | |
| General Mills, Inc. | 62,425 | 4,191,215 | |
| Hormel Foods Corp. | 26,001 | 834,892 | |
| Kellanova | 37,861 | 2,201,617 | |
| Lamb Weston Holdings, Inc. | 20,037 | 1,202,621 | |
| McCormick & Co., Inc. (non-vtg.) | 31,336 | 2,413,185 | |
| The J.M. Smucker Co. | 13,958 | 1,646,346 | |
| 17,935,074 | |||
| Household Products - 1.8% | |||
| Church & Dwight Co., Inc. | 33,968 | 3,329,204 | |
| Colgate-Palmolive Co. | 108,439 | 10,756,064 | |
| Kimberly-Clark Corp. | 45,366 | 6,126,678 | |
| Procter & Gamble Co. | 333,973 | 53,689,499 | |
| The Clorox Co. | 17,236 | 2,273,945 | |
| 76,175,390 | |||
TOTAL CONSUMER STAPLES | 184,677,032 | ||
| ENERGY - 1.7% | |||
| Energy Equipment & Services - 0.4% | |||
| Baker Hughes Co. Class A | 127,696 | 4,944,389 | |
| Halliburton Co. | 104,169 | 3,612,581 | |
| Schlumberger Ltd. | 190,423 | 9,195,527 | |
| 17,752,497 | |||
| Oil, Gas & Consumable Fuels - 1.3% | |||
| Cheniere Energy, Inc. | 30,405 | 5,553,169 | |
| HF Sinclair Corp. | 22,094 | 1,137,178 | |
| Kinder Morgan, Inc. | 183,520 | 3,877,778 | |
| Marathon Petroleum Corp. | 52,843 | 9,354,268 | |
| ONEOK, Inc. | 69,886 | 5,823,600 | |
| Phillips 66 Co. | 61,364 | 8,927,235 | |
| Targa Resources Corp. | 29,359 | 3,971,686 | |
| The Williams Companies, Inc. | 133,753 | 5,743,354 | |
| Valero Energy Corp. | 45,541 | 7,364,891 | |
| 51,753,159 | |||
TOTAL ENERGY | 69,505,656 | ||
| FINANCIALS - 10.4% | |||
| Banks - 0.8% | |||
| Citizens Financial Group, Inc. | 65,296 | 2,786,180 | |
| Huntington Bancshares, Inc. | 175,268 | 2,620,257 | |
| KeyCorp | 101,283 | 1,633,695 | |
| PNC Financial Services Group, Inc. | 47,850 | 8,665,635 | |
| Regions Financial Corp. | 97,789 | 2,187,540 | |
| Truist Financial Corp. | 175,330 | 7,835,498 | |
| U.S. Bancorp | 202,977 | 9,109,608 | |
| 34,838,413 | |||
| Capital Markets - 3.2% | |||
| Ameriprise Financial, Inc. | 15,846 | 6,814,889 | |
| Bank of New York Mellon Corp. | 105,335 | 6,854,148 | |
| BlackRock, Inc. | 20,762 | 18,197,893 | |
| Cboe Global Markets, Inc. | 14,577 | 2,675,025 | |
| Charles Schwab Corp. | 226,586 | 14,771,141 | |
| FactSet Research Systems, Inc. | 5,271 | 2,177,397 | |
| Franklin Resources, Inc. | 41,195 | 942,130 | |
| Intercontinental Exchange, Inc. | 78,338 | 11,872,907 | |
| LPL Financial | 11,496 | 2,546,594 | |
| MarketAxess Holdings, Inc. | 5,184 | 1,158,780 | |
| Moody's Corp. | 23,044 | 10,519,125 | |
| Morgan Stanley | 172,020 | 17,754,184 | |
| NASDAQ, Inc. | 60,815 | 4,115,959 | |
| Northern Trust Corp. | 28,604 | 2,535,745 | |
| Raymond James Financial, Inc. | 27,395 | 3,177,820 | |
| S&P Global, Inc. | 45,478 | 22,044,551 | |
| State Street Corp. | 39,947 | 3,394,297 | |
| T. Rowe Price Group, Inc. | 30,978 | 3,537,997 | |
| 135,090,582 | |||
| Consumer Finance - 0.9% | |||
| Ally Financial, Inc. | 50,921 | 2,291,954 | |
| American Express Co. | 83,136 | 21,036,733 | |
| Capital One Financial Corp. | 46,310 | 7,011,334 | |
| Discover Financial Services | 34,522 | 4,970,823 | |
| Synchrony Financial | 61,546 | 3,125,921 | |
| 38,436,765 | |||
| Financial Services - 3.6% | |||
| Equitable Holdings, Inc. | 70,493 | 3,074,200 | |
| Fidelity National Information Services, Inc. | 88,391 | 6,791,081 | |
| Fiserv, Inc. (a) | 84,628 | 13,842,602 | |
| MasterCard, Inc. Class A | 121,323 | 56,258,688 | |
| PayPal Holdings, Inc. (a) | 140,833 | 9,263,995 | |
| Visa, Inc. Class A | 228,231 | 60,634,130 | |
| 149,864,696 | |||
| Insurance - 1.8% | |||
| AFLAC, Inc. | 68,359 | 6,520,081 | |
| Allstate Corp. | 39,613 | 6,778,577 | |
| Arch Capital Group Ltd. (a) | 54,001 | 5,172,216 | |
| Assurant, Inc. | 8,639 | 1,510,702 | |
| Hartford Financial Services Group, Inc. | 41,413 | 4,593,530 | |
| Marsh & McLennan Companies, Inc. | 60,457 | 13,455,914 | |
| Principal Financial Group, Inc. | 31,567 | 2,573,026 | |
| Progressive Corp. | 89,365 | 19,134,834 | |
| Prudential Financial, Inc. | 50,137 | 6,283,169 | |
| The Travelers Companies, Inc. | 31,611 | 6,841,885 | |
| Willis Towers Watson PLC | 12,101 | 3,415,870 | |
| 76,279,804 | |||
| Mortgage Real Estate Investment Trusts - 0.1% | |||
| Annaly Capital Management, Inc. | 93,821 | 1,867,976 | |
TOTAL FINANCIALS | 436,378,236 | ||
| HEALTH CARE - 10.0% | |||
| Biotechnology - 1.0% | |||
| Amgen, Inc. | 74,482 | 24,763,031 | |
| Biogen, Inc. (a) | 15,950 | 3,400,540 | |
| Gilead Sciences, Inc. | 156,868 | 11,931,380 | |
| Neurocrine Biosciences, Inc. (a) | 11,573 | 1,638,390 | |
| Repligen Corp. (a) | 9,224 | 1,543,636 | |
| 43,276,977 | |||
| Health Care Equipment & Supplies - 0.8% | |||
| Align Technology, Inc. (a) | 10,042 | 2,328,539 | |
| DexCom, Inc. (a) | 53,557 | 3,632,236 | |
| Edwards Lifesciences Corp. (a) | 83,939 | 5,292,354 | |
| GE Healthcare Technologies, Inc. | 52,434 | 4,437,489 | |
| Hologic, Inc. (a) | 22,645 | 1,848,058 | |
| IDEXX Laboratories, Inc. (a) | 11,462 | 5,457,287 | |
| Insulet Corp. (a) | 9,657 | 1,876,838 | |
| Solventum Corp. | 19,195 | 1,130,202 | |
| STERIS PLC | 13,058 | 3,117,728 | |
| Teleflex, Inc. | 5,818 | 1,285,313 | |
| The Cooper Companies, Inc. | 23,758 | 2,217,334 | |
| Zimmer Biomet Holdings, Inc. | 21,149 | 2,354,941 | |
| 34,978,319 | |||
| Health Care Providers & Services - 1.5% | |||
| Cencora, Inc. | 26,350 | 6,268,138 | |
| Cigna Group | 41,177 | 14,357,185 | |
| DaVita, Inc. (a) | 8,040 | 1,098,425 | |
| Elevance Health, Inc. | 32,803 | 17,452,180 | |
| HCA Holdings, Inc. | 27,874 | 10,119,656 | |
| Henry Schein, Inc. (a) | 9,516 | 684,581 | |
| Humana, Inc. | 16,714 | 6,043,950 | |
| Labcorp Holdings, Inc. | 11,103 | 2,392,030 | |
| Molina Healthcare, Inc. (a) | 8,050 | 2,747,224 | |
| Quest Diagnostics, Inc. | 14,541 | 2,069,184 | |
| 63,232,553 | |||
| Life Sciences Tools & Services - 1.4% | |||
| Agilent Technologies, Inc. | 42,614 | 6,025,620 | |
| Avantor, Inc. (a) | 108,543 | 2,903,525 | |
| Bio-Techne Corp. | 22,982 | 1,875,101 | |
| Danaher Corp. | 104,547 | 28,967,883 | |
| IQVIA Holdings, Inc. (a) | 24,912 | 6,134,082 | |
| Mettler-Toledo International, Inc. (a) | 3,060 | 4,654,352 | |
| Waters Corp. (a) | 9,234 | 3,105,210 | |
| West Pharmaceutical Services, Inc. | 10,867 | 3,327,149 | |
| 56,992,922 | |||
| Pharmaceuticals - 5.3% | |||
| Bristol-Myers Squibb Co. | 279,612 | 13,298,347 | |
| Catalent, Inc. (a) | 24,342 | 1,444,454 | |
| Eli Lilly & Co. | 121,995 | 98,116,919 | |
| Johnson & Johnson | 343,458 | 54,214,845 | |
| Merck & Co., Inc. | 367,918 | 41,622,563 | |
| Zoetis, Inc. Class A | 64,530 | 11,617,981 | |
| 220,315,109 | |||
TOTAL HEALTH CARE | 418,795,880 | ||
| INDUSTRIALS - 7.3% | |||
| Aerospace & Defense - 0.7% | |||
| Axon Enterprise, Inc. (a) | 9,916 | 2,974,899 | |
| General Electric Co. | 162,278 | 27,619,716 | |
| 30,594,615 | |||
| Air Freight & Logistics - 0.4% | |||
| C.H. Robinson Worldwide, Inc. | 16,354 | 1,456,324 | |
| Expeditors International of Washington, Inc. | 19,847 | 2,477,303 | |
| United Parcel Service, Inc. Class B | 100,170 | 13,059,163 | |
| 16,992,790 | |||
| Building Products - 0.9% | |||
| Allegion PLC | 12,078 | 1,652,391 | |
| Carrier Global Corp. | 113,970 | 7,762,497 | |
| Fortune Brands Innovations, Inc. | 17,460 | 1,410,943 | |
| Johnson Controls International PLC | 94,373 | 6,751,444 | |
| Lennox International, Inc. | 6,664 | 3,888,444 | |
| Owens Corning | 15,435 | 2,876,775 | |
| Trane Technologies PLC | 36,361 | 12,154,755 | |
| 36,497,249 | |||
| Commercial Services & Supplies - 0.3% | |||
| Cintas Corp. | 11,819 | 9,029,007 | |
| Veralto Corp. | 29,668 | 3,161,422 | |
| 12,190,429 | |||
| Construction & Engineering - 0.2% | |||
| EMCOR Group, Inc. | 10,131 | 3,803,583 | |
| Quanta Services, Inc. | 20,046 | 5,319,807 | |
| 9,123,390 | |||
| Electrical Equipment - 0.5% | |||
| Eaton Corp. PLC | 59,747 | 18,210,288 | |
| Rockwell Automation, Inc. | 14,813 | 4,127,642 | |
| 22,337,930 | |||
| Ground Transportation - 1.0% | |||
| CSX Corp. | 258,281 | 9,065,663 | |
| J.B. Hunt Transport Services, Inc. | 11,429 | 1,978,931 | |
| Knight-Swift Transportation Holdings, Inc. | 22,194 | 1,208,019 | |
| Old Dominion Freight Lines, Inc. | 28,211 | 5,929,388 | |
| Union Pacific Corp. | 87,214 | 21,518,310 | |
| 39,700,311 | |||
| Industrial Conglomerates - 0.2% | |||
| 3M Co. | 79,567 | 10,148,771 | |
| Machinery - 1.9% | |||
| Caterpillar, Inc. | 75,836 | 26,254,423 | |
| CNH Industrial NV | 82,910 | 882,992 | |
| Cummins, Inc. | 19,560 | 5,707,608 | |
| Deere & Co. | 35,802 | 13,317,628 | |
| Dover Corp. | 18,893 | 3,481,224 | |
| Fortive Corp. | 44,302 | 3,183,099 | |
| Graco, Inc. | 23,047 | 1,960,147 | |
| IDEX Corp. | 10,450 | 2,178,616 | |
| Illinois Tool Works, Inc. | 37,826 | 9,353,613 | |
| Ingersoll Rand, Inc. | 63,145 | 6,339,758 | |
| Pentair PLC | 24,851 | 2,183,657 | |
| Toro Co. | 14,289 | 1,367,886 | |
| Xylem, Inc. | 33,254 | 4,439,409 | |
| 80,650,060 | |||
| Passenger Airlines - 0.0% | |||
| Delta Air Lines, Inc. | 10,754 | 462,637 | |
| Professional Services - 0.7% | |||
| Automatic Data Processing, Inc. | 52,507 | 13,789,388 | |
| Broadridge Financial Solutions, Inc. | 16,347 | 3,498,258 | |
| Dayforce, Inc. (a) | 21,619 | 1,281,574 | |
| Paychex, Inc. | 40,534 | 5,189,163 | |
| Paylocity Holding Corp. (a) | 6,416 | 962,849 | |
| TransUnion | 28,683 | 2,588,928 | |
| 27,310,160 | |||
| Trading Companies & Distributors - 0.5% | |||
| Ferguson PLC | 32,578 | 7,253,492 | |
| United Rentals, Inc. | 11,218 | 8,493,148 | |
| W.W. Grainger, Inc. | 6,634 | 6,480,158 | |
| 22,226,798 | |||
TOTAL INDUSTRIALS | 308,235,140 | ||
| INFORMATION TECHNOLOGY - 30.3% | |||
| Electronic Equipment, Instruments & Components - 0.1% | |||
| Keysight Technologies, Inc. (a) | 20,315 | 2,835,365 | |
| Trimble, Inc. (a) | 31,780 | 1,733,281 | |
| 4,568,646 | |||
| IT Services - 1.6% | |||
| Accenture PLC Class A | 92,847 | 30,697,075 | |
| Akamai Technologies, Inc. (a) | 20,963 | 2,060,244 | |
| Gartner, Inc. (a) | 13,042 | 6,536,520 | |
| IBM Corp. | 136,818 | 26,288,211 | |
| Twilio, Inc. Class A (a) | 27,542 | 1,628,558 | |
| 67,210,608 | |||
| Semiconductors & Semiconductor Equipment - 13.3% | |||
| Advanced Micro Devices, Inc. (a) | 241,298 | 34,862,735 | |
| Applied Materials, Inc. | 129,461 | 27,471,624 | |
| Enphase Energy, Inc. (a) | 22,293 | 2,566,147 | |
| First Solar, Inc. (a) | 16,396 | 3,541,372 | |
| Intel Corp. | 627,055 | 19,275,671 | |
| Lam Research Corp. | 21,443 | 19,754,149 | |
| Lattice Semiconductor Corp. (a) | 28,600 | 1,515,800 | |
| Marvell Technology, Inc. | 142,302 | 9,531,388 | |
| NVIDIA Corp. | 3,427,060 | 401,034,561 | |
| NXP Semiconductors NV | 44,088 | 11,602,198 | |
| Texas Instruments, Inc. | 138,589 | 28,245,824 | |
| 559,401,469 | |||
| Software - 15.3% | |||
| Adobe, Inc. (a) | 66,502 | 36,685,828 | |
| ANSYS, Inc. (a) | 14,310 | 4,488,045 | |
| Aspen Technology, Inc. (a) | 6,602 | 1,240,846 | |
| Atlassian Corp. PLC Class A, (a) | 26,781 | 4,728,721 | |
| Autodesk, Inc. (a) | 35,679 | 8,831,266 | |
| Cadence Design Systems, Inc. (a) | 43,709 | 11,699,151 | |
| Confluent, Inc. (a) | 42,311 | 1,058,621 | |
| DocuSign, Inc. (a) | 44,243 | 2,454,602 | |
| Fair Isaac Corp. (a) | 4,681 | 7,489,600 | |
| Gen Digital, Inc. | 118,346 | 3,075,813 | |
| HubSpot, Inc. (a) | 8,857 | 4,402,195 | |
| Intuit, Inc. | 43,791 | 28,348,104 | |
| Manhattan Associates, Inc. (a) | 14,656 | 3,742,849 | |
| Microsoft Corp. | 979,318 | 409,697,686 | |
| Palo Alto Networks, Inc. (a) | 49,586 | 16,102,062 | |
| PTC, Inc. (a) | 28,071 | 4,992,427 | |
| Salesforce, Inc. | 151,380 | 39,177,144 | |
| ServiceNow, Inc. (a) | 33,034 | 26,902,559 | |
| Synopsys, Inc. (a) | 24,141 | 13,478,403 | |
| UiPath, Inc. Class A (a) | 130,166 | 1,584,120 | |
| Workday, Inc. Class A (a) | 37,293 | 8,469,986 | |
| Zscaler, Inc. (a) | 18,127 | 3,251,077 | |
| 641,901,105 | |||
| Technology Hardware, Storage & Peripherals - 0.0% | |||
| Hewlett Packard Enterprise Co. | 12,994 | 258,711 | |
| Western Digital Corp. (a) | 10,622 | 712,205 | |
| 970,916 | |||
TOTAL INFORMATION TECHNOLOGY | 1,274,052,744 | ||
| MATERIALS - 2.4% | |||
| Chemicals - 1.4% | |||
| Air Products & Chemicals, Inc. | 28,858 | 7,614,183 | |
| Ecolab, Inc. | 37,936 | 8,751,456 | |
| International Flavors & Fragrances, Inc. | 35,252 | 3,506,869 | |
| Linde PLC | 68,885 | 31,239,348 | |
| LyondellBasell Industries NV Class A | 35,815 | 3,562,160 | |
| PPG Industries, Inc. | 32,518 | 4,129,136 | |
| 58,803,152 | |||
| Construction Materials - 0.3% | |||
| CRH PLC | 108,108 | 9,264,856 | |
| Martin Marietta Materials, Inc. | 8,769 | 5,203,086 | |
| 14,467,942 | |||
| Containers & Packaging - 0.3% | |||
| Avery Dennison Corp. | 11,139 | 2,415,269 | |
| Ball Corp. | 43,528 | 2,778,392 | |
| International Paper Co. | 46,441 | 2,158,578 | |
| Smurfit Westrock PLC | 73,004 | 3,273,499 | |
| 10,625,738 | |||
| Metals & Mining - 0.4% | |||
| Newmont Corp. | 159,127 | 7,808,362 | |
| Nucor Corp. | 32,121 | 5,233,796 | |
| Steel Dynamics, Inc. | 21,156 | 2,818,402 | |
| 15,860,560 | |||
TOTAL MATERIALS | 99,757,392 | ||
| REAL ESTATE - 1.9% | |||
| Equity Real Estate Investment Trusts (REITs) - 1.8% | |||
| American Tower Corp. | 65,156 | 14,360,382 | |
| BXP, Inc. | 20,505 | 1,462,212 | |
| Crown Castle, Inc. | 59,342 | 6,532,367 | |
| Digital Realty Trust, Inc. | 45,561 | 6,810,914 | |
| Equinix, Inc. | 13,728 | 10,848,415 | |
| Healthpeak Properties, Inc. | 97,751 | 2,132,927 | |
| Iron Mountain, Inc. | 44,273 | 4,540,639 | |
| Prologis, Inc. | 129,541 | 16,328,643 | |
| SBA Communications Corp. Class A | 14,969 | 3,286,294 | |
| Welltower, Inc. | 76,095 | 8,465,569 | |
| Weyerhaeuser Co. | 82,525 | 2,620,994 | |
| 77,389,356 | |||
| Real Estate Management & Development - 0.1% | |||
| CBRE Group, Inc. (a) | 41,743 | 4,704,854 | |
TOTAL REAL ESTATE | 82,094,210 | ||
| UTILITIES - 0.7% | |||
| Electric Utilities - 0.3% | |||
| Edison International | 33,122 | 2,650,091 | |
| Eversource Energy | 39,253 | 2,547,912 | |
| Exelon Corp. | 88,654 | 3,297,929 | |
| NRG Energy, Inc. | 43,673 | 3,282,899 | |
| 11,778,831 | |||
| Gas Utilities - 0.1% | |||
| Atmos Energy Corp. | 20,514 | 2,623,330 | |
| Multi-Utilities - 0.2% | |||
| CMS Energy Corp. | 40,309 | 2,612,023 | |
| Consolidated Edison, Inc. | 24,585 | 2,397,529 | |
| Sempra | 73,739 | 5,903,544 | |
| 10,913,096 | |||
| Water Utilities - 0.1% | |||
| American Water Works Co., Inc. | 26,219 | 3,732,537 | |
| Essential Utilities, Inc. | 34,576 | 1,405,514 | |
| 5,138,051 | |||
TOTAL UTILITIES | 30,453,308 | ||
| TOTAL COMMON STOCKS (Cost $2,594,881,098) | 3,612,751,661 | ||
| U.S. Treasury Obligations - 0.2% | |||
Principal Amount (b) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.31% 8/22/24 (c) (Cost $9,549,709) | 9,579,000 | 9,549,523 | |
| Money Market Funds - 13.0% | |||
| Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (d) (Cost $546,439,526) | 546,330,260 | 546,439,526 | |
| TOTAL INVESTMENT IN SECURITIES - 99.2% (Cost $3,150,870,333) | 4,168,740,710 |
NET OTHER ASSETS (LIABILITIES) - 0.8% (e) | 34,851,655 |
| NET ASSETS - 100.0% | 4,203,592,365 |
| Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
| Purchased | |||||
| Equity Index Contracts | |||||
| CME E-mini S&P 500 Index Contracts (United States) | 1,701 | Sep 2024 | 472,707,900 | 4,348,094 | 4,348,094 |
| CME Micro E-mini NASDAQ 100 Index Contracts (United States) | 303 | Sep 2024 | 118,201,815 | (2,473,061) | (2,473,061) |
| TOTAL FUTURES CONTRACTS | 1,875,033 | ||||
| The notional amount of futures purchased as a percentage of Net Assets is 14.0% | |||||
Legend
| (a) | Non-income producing |
| (b) | Amount is stated in United States dollars unless otherwise noted. |
| (c) | 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 $9,549,523. |
| (d) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
| (e) | Includes $18,765,085 of cash collateral to cover margin requirements for futures contracts. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
| Affiliate | Value, beginning of period ($) | 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% | 16,961,349 | 1,022,122,032 | 492,643,703 | 11,860,327 | (152) | - | 546,439,526 | 1.1% |
| Total | 16,961,349 | 1,022,122,032 | 492,643,703 | 11,860,327 | (152) | - | 546,439,526 | |
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
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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