Common Stocks - 98.9% |
| | Shares | Value ($) (000s) |
COMMUNICATION SERVICES - 3.6% | | | |
Entertainment - 0.6% | | | |
Live Nation Entertainment, Inc. (a) | | 222,100 | 21,539 |
Interactive Media & Services - 1.3% | | | |
Pinterest, Inc. Class A (a) | | 1,218,400 | 44,715 |
Media - 1.7% | | | |
The Trade Desk, Inc. (a) | | 707,000 | 60,399 |
TOTAL COMMUNICATION SERVICES | | | 126,653 |
CONSUMER DISCRETIONARY - 11.6% | | | |
Broadline Retail - 0.2% | | | |
Coupang, Inc. Class A (a) | | 420,000 | 7,778 |
Distributors - 0.3% | | | |
Pool Corp. | | 28,115 | 11,193 |
Diversified Consumer Services - 0.6% | | | |
Duolingo, Inc. (a) | | 88,156 | 21,069 |
Hotels, Restaurants & Leisure - 1.9% | | | |
Chipotle Mexican Grill, Inc. (a) | | 6,730 | 18,095 |
Domino's Pizza, Inc. | | 59,400 | 26,632 |
Doordash, Inc. (a) | | 50,000 | 6,229 |
Expedia, Inc. (a) | | 75,263 | 10,297 |
Wyndham Hotels & Resorts, Inc. | | 81,600 | 6,246 |
| | | 67,499 |
Household Durables - 2.5% | | | |
Lennar Corp. Class A | | 93,900 | 14,884 |
NVR, Inc. (a) | | 2,200 | 16,776 |
PulteGroup, Inc. | | 292,096 | 31,657 |
TopBuild Corp. (a) | | 55,500 | 22,332 |
| | | 85,649 |
Specialty Retail - 4.7% | | | |
AutoZone, Inc. (a) | | 13,395 | 40,266 |
Dick's Sporting Goods, Inc. | | 165,000 | 29,352 |
Murphy U.S.A., Inc. | | 102,000 | 42,535 |
O'Reilly Automotive, Inc. (a) | | 27,500 | 29,904 |
Ross Stores, Inc. | | 132,300 | 19,707 |
| | | 161,764 |
Textiles, Apparel & Luxury Goods - 1.4% | | | |
Crocs, Inc. (a) | | 346,440 | 42,352 |
Deckers Outdoor Corp. (a) | | 4,987 | 4,466 |
| | | 46,818 |
TOTAL CONSUMER DISCRETIONARY | | | 401,770 |
CONSUMER STAPLES - 1.6% | | | |
Beverages - 0.4% | | | |
Celsius Holdings, Inc. (a)(b) | | 184,485 | 15,058 |
Consumer Staples Distribution & Retail - 0.9% | | | |
BJ's Wholesale Club Holdings, Inc. (a) | | 132,945 | 9,710 |
Casey's General Stores, Inc. | | 66,500 | 20,249 |
| | | 29,959 |
Food Products - 0.3% | | | |
Lamb Weston Holdings, Inc. | | 110,600 | 11,304 |
TOTAL CONSUMER STAPLES | | | 56,321 |
ENERGY - 3.5% | | | |
Energy Equipment & Services - 0.3% | | | |
TechnipFMC PLC | | 500,000 | 10,845 |
Oil, Gas & Consumable Fuels - 3.2% | | | |
Antero Resources Corp. (a) | | 424,712 | 10,915 |
APA Corp. | | 90,338 | 2,691 |
Cenovus Energy, Inc. | | 922,000 | 16,070 |
Cheniere Energy, Inc. | | 278,000 | 43,146 |
Hess Corp. | | 223,700 | 32,604 |
Valero Energy Corp. | | 49,000 | 6,932 |
| | | 112,358 |
TOTAL ENERGY | | | 123,203 |
FINANCIALS - 10.8% | | | |
Capital Markets - 6.6% | | | |
Ameriprise Financial, Inc. | | 155,000 | 63,141 |
Ares Management Corp. | | 301,000 | 39,922 |
Cboe Global Markets, Inc. | | 102,100 | 19,603 |
KKR & Co. LP | | 202,300 | 19,878 |
LPL Financial | | 70,000 | 18,752 |
MSCI, Inc. | | 92,000 | 51,609 |
Tradeweb Markets, Inc. Class A | | 149,300 | 15,799 |
| | | 228,704 |
Financial Services - 2.8% | | | |
Apollo Global Management, Inc. | | 859,600 | 96,107 |
Insurance - 1.4% | | | |
Arthur J. Gallagher & Co. | | 118,000 | 28,784 |
Globe Life, Inc. | | 67,400 | 8,555 |
Kinsale Capital Group, Inc. | | 25,600 | 13,214 |
| | | 50,553 |
TOTAL FINANCIALS | | | 375,364 |
HEALTH CARE - 16.4% | | | |
Biotechnology - 0.4% | | | |
Moderna, Inc. (a) | | 142,281 | 13,124 |
Health Care Equipment & Supplies - 7.0% | | | |
DexCom, Inc. (a) | | 570,900 | 65,693 |
IDEXX Laboratories, Inc. (a) | | 23,400 | 13,460 |
Insulet Corp. (a) | | 253,000 | 41,492 |
Penumbra, Inc. (a) | | 21,100 | 4,957 |
ResMed, Inc. | | 444,200 | 77,166 |
Shockwave Medical, Inc. (a) | | 157,500 | 41,087 |
| | | 243,855 |
Health Care Providers & Services - 5.4% | | | |
Cardinal Health, Inc. | | 755,000 | 84,545 |
Centene Corp. (a) | | 290,000 | 22,745 |
Molina Healthcare, Inc. (a) | | 203,000 | 79,964 |
| | | 187,254 |
Health Care Technology - 0.8% | | | |
Doximity, Inc. (a) | | 184,138 | 5,198 |
Veeva Systems, Inc. Class A (a) | | 99,970 | 22,544 |
| | | 27,742 |
Life Sciences Tools & Services - 2.8% | | | |
Mettler-Toledo International, Inc. (a) | | 41,700 | 52,009 |
West Pharmaceutical Services, Inc. | | 125,900 | 45,118 |
| | | 97,127 |
TOTAL HEALTH CARE | | | 569,102 |
INDUSTRIALS - 26.6% | | | |
Aerospace & Defense - 3.0% | | | |
Howmet Aerospace, Inc. | | 425,000 | 28,284 |
TransDigm Group, Inc. | | 65,800 | 77,495 |
| | | 105,779 |
Building Products - 3.1% | | | |
Builders FirstSource, Inc. (a) | | 86,100 | 16,805 |
Carrier Global Corp. | | 690,000 | 38,350 |
Trane Technologies PLC | | 189,700 | 53,490 |
| | | 108,645 |
Commercial Services & Supplies - 4.9% | | | |
Cintas Corp. | | 121,568 | 76,419 |
Copart, Inc. | | 1,576,700 | 83,802 |
GFL Environmental, Inc. (b) | | 266,274 | 9,607 |
| | | 169,828 |
Construction & Engineering - 3.1% | | | |
Comfort Systems U.S.A., Inc. | | 1,268 | 388 |
EMCOR Group, Inc. | | 135,300 | 42,419 |
Quanta Services, Inc. | | 275,000 | 66,415 |
| | | 109,222 |
Electrical Equipment - 3.9% | | | |
AMETEK, Inc. | | 142,000 | 25,586 |
Atkore, Inc. | | 183,800 | 31,136 |
Nextracker, Inc. Class A | | 316,280 | 17,788 |
nVent Electric PLC | | 366,300 | 24,659 |
Vertiv Holdings Co. | | 560,000 | 37,867 |
| | | 137,036 |
Ground Transportation - 2.9% | | | |
Old Dominion Freight Lines, Inc. | | 178,500 | 78,983 |
Saia, Inc. (a) | | 36,900 | 21,232 |
| | | 100,215 |
Machinery - 2.1% | | | |
IDEX Corp. | | 25,066 | 5,913 |
PACCAR, Inc. | | 238,000 | 26,392 |
Parker Hannifin Corp. | | 73,100 | 39,141 |
| | | 71,446 |
Professional Services - 1.1% | | | |
Booz Allen Hamilton Holding Corp. Class A | | 82,930 | 12,250 |
Verisk Analytics, Inc. | | 100,000 | 24,190 |
| | | 36,440 |
Trading Companies & Distributors - 2.5% | | | |
W.W. Grainger, Inc. | | 88,671 | 86,318 |
TOTAL INDUSTRIALS | | | 924,929 |
INFORMATION TECHNOLOGY - 21.5% | | | |
Electronic Equipment, Instruments & Components - 4.2% | | | |
Amphenol Corp. Class A | | 540,000 | 58,990 |
CDW Corp. | | 224,200 | 55,200 |
Vontier Corp. | | 700,000 | 30,100 |
| | | 144,290 |
IT Services - 4.5% | | | |
EPAM Systems, Inc. (a) | | 75,900 | 23,104 |
Gartner, Inc. (a) | | 171,900 | 80,030 |
MongoDB, Inc. Class A (a) | | 121,500 | 54,381 |
| | | 157,515 |
Semiconductors & Semiconductor Equipment - 5.7% | | | |
Broadcom, Inc. | | 7,997 | 10,400 |
Enphase Energy, Inc. (a) | | 102,800 | 13,057 |
KLA Corp. | | 13,700 | 9,348 |
Lam Research Corp. | | 9,074 | 8,514 |
Lattice Semiconductor Corp. (a) | | 316,300 | 24,232 |
Monolithic Power Systems, Inc. | | 73,000 | 52,563 |
NXP Semiconductors NV | | 51,000 | 12,736 |
ON Semiconductor Corp. (a) | | 851,000 | 67,161 |
| | | 198,011 |
Software - 7.0% | | | |
Atlassian Corp. PLC (a) | | 38,200 | 7,923 |
Cadence Design Systems, Inc. (a) | | 61,500 | 18,719 |
Crowdstrike Holdings, Inc. (a) | | 210,000 | 68,072 |
Dynatrace, Inc. (a) | | 644,800 | 31,950 |
Fair Isaac Corp. (a) | | 22,100 | 28,065 |
Fortinet, Inc. (a) | | 310,000 | 21,424 |
HubSpot, Inc. (a) | | 53,400 | 33,044 |
Intuit, Inc. | | 11,695 | 7,752 |
Roper Technologies, Inc. | | 14,966 | 8,152 |
Synopsys, Inc. (a) | | 30,400 | 17,441 |
| | | 242,542 |
Technology Hardware, Storage & Peripherals - 0.1% | | | |
Pure Storage, Inc. Class A (a) | | 84,800 | 4,465 |
TOTAL INFORMATION TECHNOLOGY | | | 746,823 |
MATERIALS - 1.9% | | | |
Construction Materials - 0.7% | | | |
CRH PLC | | 277,513 | 23,397 |
Metals & Mining - 1.2% | | | |
Steel Dynamics, Inc. | | 321,200 | 42,983 |
TOTAL MATERIALS | | | 66,380 |
REAL ESTATE - 0.5% | | | |
Equity Real Estate Investment Trusts (REITs) - 0.5% | | | |
Iron Mountain, Inc. | | 241,100 | 18,960 |
UTILITIES - 0.9% | | | |
Independent Power and Renewable Electricity Producers - 0.9% | | | |
Vistra Corp. | | 586,000 | 31,960 |
TOTAL COMMON STOCKS (Cost $2,090,773) | | | 3,441,465 |
| | | |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
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.
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 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)
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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