Quarterly Holdings Report
for
Fidelity® Convertible Securities Fund
August 31, 2022
CVS-NPRT3-1022
1.805819.118
Corporate Bonds - 70.3% | |||
Principal Amount (a) (000s) | Value ($) (000s) | ||
Convertible Bonds - 67.5% | |||
COMMUNICATION SERVICES - 8.6% | |||
Diversified Telecommunication Services - 0.0% | |||
Bandwidth, Inc. 0.25% 3/1/26 | 185 | 125 | |
Radius Global Infrastructure, Inc. 2.5% 9/15/26 (b) | 264 | 241 | |
366 | |||
Entertainment - 1.3% | |||
Liberty Media Corp. 0.5% 12/1/50 (b) | 1,721 | 1,994 | |
Live Nation Entertainment, Inc.: | |||
2% 2/15/25 | 247 | 270 | |
2.5% 3/15/23 | 3,626 | 4,982 | |
Spotify U.S.A., Inc. 0% 3/15/26 | 2,910 | 2,372 | |
World Wrestling Entertainment, Inc. 3.375% 12/15/23 | 1,700 | 4,686 | |
Zynga, Inc.: | |||
0% 12/15/26 | 5,479 | 5,479 | |
0.25% 6/1/24 | 3,904 | 4,378 | |
24,161 | |||
Interactive Media & Services - 3.1% | |||
Eventbrite, Inc. 5% 12/1/25 | 2,635 | 2,538 | |
fuboTV, Inc. 3.25% 2/15/26 | 1,439 | 652 | |
IAC FinanceCo 2, Inc. 0.875% 6/15/26 (b) | 3,612 | 3,495 | |
IAC FinanceCo 3, Inc. 2% 1/15/30 (b) | 3,607 | 3,581 | |
IAC FinanceCo, Inc. 0.875% 10/1/22 (b) | 2,642 | 3,375 | |
Liberty TripAdvisor Holdings, Inc. 0.5% 6/30/51 (b) | 4,387 | 3,227 | |
Snap, Inc.: | |||
0% 5/1/27 | 10,175 | 7,351 | |
0.125% 3/1/28(b) | 9,700 | 6,717 | |
0.25% 5/1/25 | 1,937 | 1,826 | |
0.75% 8/1/26 | 4,240 | 3,858 | |
TripAdvisor, Inc. 0.25% 4/1/26 | 1,885 | 1,566 | |
Twitter, Inc.: | |||
0% 3/15/26 | 4,940 | 4,421 | |
0.25% 6/15/24 | 13,201 | 13,175 | |
Ziff Davis, Inc. 1.75% 11/1/26 (b) | 188 | 185 | |
55,967 | |||
Media - 4.2% | |||
Cable One, Inc. 0% 3/15/26 | 262 | 214 | |
DISH Network Corp.: | |||
0% 12/15/25 | 13,536 | 9,688 | |
2.375% 3/15/24 | 11,599 | 10,468 | |
3.375% 8/15/26 | 20,797 | 14,965 | |
Gannett Co., Inc. 4.75% 4/15/24 | 1,450 | 1,127 | |
Grizzly Merger Sub 1 LLC 1.75% 9/30/46 (b) | 4,323 | 5,007 | |
Liberty Broadband Corp.: | |||
1.25% 9/30/50(b) | 7,910 | 7,495 | |
2.75% 9/30/50(b) | 210 | 203 | |
Liberty Interactive LLC 1.75% 9/30/46 (b) | 1,748 | 2,132 | |
Liberty Media Corp.: | |||
1% 1/30/23 | 1,735 | 2,995 | |
1.375% 10/15/23 | 3,493 | 4,487 | |
2.25% 8/15/27(b) | 9,614 | 9,571 | |
Magnite, Inc. 0.25% 3/15/26 | 7,345 | 5,491 | |
TechTarget, Inc.: | |||
0% 12/15/26(b) | 260 | 210 | |
0.125% 12/15/25 | 935 | 1,038 | |
75,091 | |||
TOTAL COMMUNICATION SERVICES | 155,585 | ||
CONSUMER DISCRETIONARY - 8.5% | |||
Auto Components - 0.8% | |||
LCI Industries 1.125% 5/15/26 | 5,010 | 4,577 | |
Patrick Industries, Inc.: | |||
1% 2/1/23 | 4,101 | 4,050 | |
1.75% 12/1/28(b) | 6,423 | 5,195 | |
13,822 | |||
Automobiles - 1.4% | |||
Arrival SA 3.5% 12/1/26 (b) | 5,569 | 1,864 | |
Fisker, Inc. 2.5% 9/15/26 (b) | 200 | 117 | |
Ford Motor Co. 0% 3/15/26 | 19,843 | 21,589 | |
Lucid Group, Inc. 1.25% 12/15/26 (b) | 260 | 164 | |
Winnebago Industries, Inc. 1.5% 4/1/25 | 2,250 | 2,506 | |
26,240 | |||
Diversified Consumer Services - 0.6% | |||
2U, Inc. 2.25% 5/1/25 | 6,178 | 4,448 | |
Chegg, Inc.: | |||
0% 9/1/26 | 3,627 | 2,874 | |
0.125% 3/15/25 | 3,511 | 3,079 | |
10,401 | |||
Hotels, Restaurants & Leisure - 2.8% | |||
Airbnb, Inc. 0% 3/15/26 | 5,709 | 4,895 | |
Booking Holdings, Inc. 0.75% 5/1/25 | 1,963 | 2,546 | |
Carnival Corp. 5.75% 4/1/23 | 141 | 165 | |
Cracker Barrel Old Country Store, Inc. 0.625% 6/15/26 | 10,300 | 9,195 | |
DraftKings, Inc. 0% 3/15/28 | 8,386 | 5,623 | |
Expedia, Inc. 0% 2/15/26 | 225 | 202 | |
Marriott Vacations Worldwide Corp.: | |||
0% 1/15/26 | 200 | 203 | |
1.5% 9/15/22 | 181 | 181 | |
NCL Corp. Ltd.: | |||
1.125% 2/15/27(b) | 5,700 | 3,896 | |
2.5% 2/15/27(b) | 4,879 | 3,542 | |
5.375% 8/1/25 | 2,450 | 2,606 | |
Penn Entertainment, Inc. 2.75% 5/15/26 | 4,389 | 6,746 | |
Royal Caribbean Cruises Ltd. 6% 8/15/25 (b) | 7,130 | 7,921 | |
Shake Shack, Inc. 0% 3/1/28 | 2,206 | 1,529 | |
The Cheesecake Factory, Inc. 0.375% 6/15/26 | 1,020 | 829 | |
Vail Resorts, Inc. 0% 1/1/26 | 200 | 181 | |
50,260 | |||
Internet & Direct Marketing Retail - 1.5% | |||
Etsy, Inc.: | |||
0.125% 10/1/26 | 7,322 | 10,291 | |
0.125% 9/1/27 | 4,502 | 4,257 | |
0.25% 6/15/28 | 210 | 174 | |
Lyft, Inc. 1.5% 5/15/25 | 172 | 151 | |
The RealReal, Inc.: | |||
1% 3/1/28 | 10,921 | 5,341 | |
3% 6/15/25 | 4,447 | 2,718 | |
Uber Technologies, Inc. 0% 12/15/25 | 200 | 171 | |
Wayfair LLC: | |||
0.625% 10/1/25 | 2,705 | 1,904 | |
1.125% 11/1/24 | 120 | 105 | |
Xometry, Inc. 1% 2/1/27 (b) | 1,400 | 1,526 | |
26,638 | |||
Leisure Products - 1.0% | |||
Callaway Golf Co. 2.75% 5/1/26 | 3,690 | 5,297 | |
Peloton Interactive, Inc. 0% 2/15/26 | 17,397 | 12,273 | |
17,570 | |||
Specialty Retail - 0.4% | |||
Burlington Stores, Inc. 2.25% 4/15/25 | 190 | 197 | |
Dick's Sporting Goods, Inc. 3.25% 4/15/25 | 1,132 | 3,715 | |
National Vision Holdings, Inc. 2.5% 5/15/25 | 2,667 | 3,346 | |
7,258 | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Marathon Digital Holdings, Inc. 1% 12/1/26 (b) | 2,144 | 789 | |
TOTAL CONSUMER DISCRETIONARY | 152,978 | ||
CONSUMER STAPLES - 1.5% | |||
Food & Staples Retailing - 0.1% | |||
Chefs' Warehouse Holdings 1.875% 12/1/24 | 2,000 | 2,079 | |
Food Products - 0.5% | |||
Beyond Meat, Inc. 0% 3/15/27 | 18,884 | 6,553 | |
Post Holdings, Inc. 2.5% 8/15/27 (b) | 3,090 | 3,212 | |
9,765 | |||
Tobacco - 0.9% | |||
Turning Point Brands, Inc. 2.5% 7/15/24 | 17,224 | 15,553 | |
TOTAL CONSUMER STAPLES | 27,397 | ||
ENERGY - 2.5% | |||
Energy Equipment & Services - 0.0% | |||
Vantage Drilling Co. 0% 7/15/43 (b)(c)(d) | 20,000 | 0 | |
Oil, Gas & Consumable Fuels - 2.5% | |||
Antero Resources Corp. 4.25% 9/1/26 | 466 | 4,288 | |
Arch Resources, Inc. 5.25% 11/15/25 | 580 | 2,320 | |
CNX Resources Corp. 2.25% 5/1/26 | 3,271 | 4,996 | |
EQT Corp. 1.75% 5/1/26 | 3,864 | 12,492 | |
Peabody Energy Corp. 3.25% 3/1/28 (b) | 3,797 | 5,582 | |
Pioneer Natural Resources Co. 0.25% 5/15/25 | 6,450 | 15,825 | |
45,503 | |||
TOTAL ENERGY | 45,503 | ||
FINANCIALS - 0.7% | |||
Capital Markets - 0.3% | |||
Coinbase Global, Inc. 0.5% 6/1/26 | 7,348 | 4,956 | |
Consumer Finance - 0.4% | |||
LendingTree, Inc. 0.5% 7/15/25 | 2,400 | 1,828 | |
SoFi Technologies, Inc. 0% 10/15/26 (b) | 6,967 | 5,048 | |
6,876 | |||
Insurance - 0.0% | |||
HCI Group, Inc. 4.75% 6/1/42 (b) | 200 | 170 | |
Mortgage Real Estate Investment Trusts - 0.0% | |||
Arbor Realty Trust, Inc. 4.75% 11/1/22 | 180 | 181 | |
Blackstone Mortgage Trust, Inc. 5.5% 3/15/27 | 200 | 185 | |
HAT Holdings I LLC/HAT Holdings II LLC 0% 5/1/25 (b) | 200 | 191 | |
557 | |||
TOTAL FINANCIALS | 12,559 | ||
HEALTH CARE - 8.5% | |||
Biotechnology - 2.4% | |||
Cerevel Therapeutics Holdings 2.5% 8/15/27 (b) | 680 | 645 | |
Coherus BioSciences, Inc. 1.5% 4/15/26 | 205 | 173 | |
Cytokinetics, Inc. 4% 11/15/26 | 270 | 1,389 | |
Dynavax Technologies Corp. 2.5% 5/15/26 | 200 | 269 | |
Exact Sciences Corp.: | |||
0.375% 3/15/27 | 3,607 | 2,638 | |
0.375% 3/1/28 | 4,842 | 3,307 | |
1% 1/15/25 | 1,666 | 1,504 | |
Global Blood Therapeutics, Inc. 1.875% 12/15/28 (b) | 4,620 | 10,226 | |
Halozyme Therapeutics, Inc. 1% 8/15/28 (b) | 3,180 | 3,118 | |
Insmed, Inc.: | |||
0.75% 6/1/28 | 3,200 | 3,147 | |
1.75% 1/15/25 | 2,000 | 2,026 | |
Natera, Inc. 2.25% 5/1/27 | 1,392 | 2,069 | |
Neurocrine Biosciences, Inc. 2.25% 5/15/24 | 3,254 | 4,495 | |
Sarepta Therapeutics, Inc. 1.5% 11/15/24 | 4,900 | 8,165 | |
43,171 | |||
Health Care Equipment & Supplies - 3.4% | |||
CONMED Corp. 2.25% 6/15/27 (b) | 5,740 | 5,266 | |
CryoPort, Inc. 0.75% 12/1/26 (b) | 4,273 | 3,336 | |
DexCom, Inc.: | |||
0.25% 11/15/25 | 7,612 | 7,265 | |
0.75% 12/1/23 | 4,312 | 8,712 | |
Envista Holdings Corp. 2.375% 6/1/25 | 4,917 | 9,050 | |
Glaukos Corp. 2.75% 6/15/27 | 3,385 | 4,138 | |
Haemonetics Corp. 0% 3/1/26 | 270 | 225 | |
Insulet Corp. 0.375% 9/1/26 | 5,772 | 7,351 | |
Integra LifeSciences Holdings Corp. 0.5% 8/15/25 | 230 | 212 | |
LivaNova U.S.A., Inc. 3% 12/15/25 | 4,024 | 4,686 | |
Mesa Laboratories, Inc. 1.375% 8/15/25 | 1,437 | 1,267 | |
Nevro Corp. 2.75% 4/1/25 | 1,023 | 960 | |
Novocure Ltd. 0% 11/1/25 | 200 | 182 | |
Omnicell, Inc. 0.25% 9/15/25 | 2,491 | 2,939 | |
Tandem Diabetes Care, Inc. 1.5% 5/1/25 (b) | 5,947 | 5,375 | |
Varex Imaging Corp. 4% 6/1/25 | 190 | 228 | |
61,192 | |||
Health Care Providers & Services - 1.6% | |||
1Life Healthcare, Inc. 3% 6/15/25 | 4,349 | 4,240 | |
Accolade, Inc. 0.5% 4/1/26 | 9,966 | 7,263 | |
Brookdale Senior Living, Inc. 2% 10/15/26 (b) | 5,633 | 4,809 | |
Guardant Health, Inc. 0% 11/15/27 | 8,385 | 6,166 | |
Oak Street Health, Inc. 0% 3/15/26 | 9,275 | 7,230 | |
29,708 | |||
Health Care Technology - 0.3% | |||
Allscripts Healthcare Solutions, Inc. 0.875% 1/1/27 | 2,125 | 2,954 | |
Health Catalyst, Inc. 2.5% 4/15/25 | 1,647 | 1,449 | |
Teladoc Health, Inc. 1.25% 6/1/27 | 1,179 | 898 | |
5,301 | |||
Life Sciences Tools & Services - 0.8% | |||
Illumina, Inc. 0% 8/15/23 | 6,779 | 6,504 | |
Inotiv, Inc. 3.25% 10/15/27 (b) | 220 | 181 | |
Nanostring Technologies, Inc. 2.625% 3/1/25 | 1,826 | 1,478 | |
NeoGenomics, Inc. 1.25% 5/1/25 | 750 | 657 | |
Repligen Corp. 0.375% 7/15/24 | 2,430 | 4,817 | |
13,637 | |||
Pharmaceuticals - 0.0% | |||
Innoviva, Inc. 2.125% 3/15/28 (b) | 200 | 164 | |
TOTAL HEALTH CARE | 153,173 | ||
INDUSTRIALS - 7.9% | |||
Aerospace & Defense - 0.7% | |||
Parsons Corp. 0.25% 8/15/25 | 11,926 | 12,695 | |
Virgin Galactic Holdings, Inc. 2.5% 2/1/27 (b) | 253 | 164 | |
12,859 | |||
Air Freight & Logistics - 0.4% | |||
Air Transport Services Group, Inc. 1.125% 10/15/24 | 2,096 | 2,323 | |
Atlas Air Worldwide Holdings, Inc. 1.875% 6/1/24 | 2,880 | 4,771 | |
7,094 | |||
Airlines - 1.4% | |||
American Airlines Group, Inc. 6.5% 7/1/25 | 6,675 | 7,222 | |
JetBlue Airways Corp. 0.5% 4/1/26 | 8,341 | 6,281 | |
Southwest Airlines Co. 1.25% 5/1/25 | 9,910 | 12,383 | |
25,886 | |||
Construction & Engineering - 0.3% | |||
Granite Construction, Inc. 2.75% 11/1/24 | 5,766 | 6,418 | |
Electrical Equipment - 2.2% | |||
Array Technologies, Inc. 1% 12/1/28 (b) | 10,739 | 11,523 | |
Bloom Energy Corp. 2.5% 8/15/25 | 5,039 | 8,552 | |
Plug Power, Inc. 3.75% 6/1/25 | 1,585 | 8,864 | |
Stem, Inc. 0.5% 12/1/28 (b) | 8,464 | 6,881 | |
Sunrun, Inc. 0% 2/1/26 | 4,478 | 3,361 | |
39,181 | |||
Machinery - 1.7% | |||
Chart Industries, Inc. 1% 11/15/24 (b) | 2,248 | 7,437 | |
Desktop Metal, Inc. 6% 5/15/27 (b) | 1,250 | 2,438 | |
John Bean Technologies Corp. 0.25% 5/15/26 | 9,247 | 8,345 | |
Middleby Corp. 1% 9/1/25 | 4,330 | 5,371 | |
The Greenbrier Companies, Inc. 2.875% 4/15/28 | 8,820 | 7,550 | |
31,141 | |||
Professional Services - 0.8% | |||
FTI Consulting, Inc. 2% 8/15/23 | 2,604 | 4,169 | |
KBR, Inc. 2.5% 11/1/23 | 5,004 | 9,658 | |
Upwork, Inc. 0.25% 8/15/26 | 210 | 163 | |
13,990 | |||
Transportation Infrastructure - 0.4% | |||
Seaspan Corp. 3.75% 12/15/25 (b) | 5,859 | 6,943 | |
TOTAL INDUSTRIALS | 143,512 | ||
INFORMATION TECHNOLOGY - 25.5% | |||
Communications Equipment - 0.5% | |||
Lumentum Holdings, Inc.: | |||
0.25% 3/15/24 | 2,999 | 4,305 | |
0.5% 12/15/26 | 3,674 | 3,858 | |
0.5% 6/15/28(b) | 200 | 178 | |
8,341 | |||
Electronic Equipment & Components - 0.5% | |||
Insight Enterprises, Inc. 0.75% 2/15/25 | 4,484 | 6,224 | |
Par Technology Corp.: | |||
1.5% 10/15/27 | 211 | 167 | |
2.875% 4/15/26 | 1,750 | 1,929 | |
8,320 | |||
IT Services - 5.5% | |||
Affirm Holdings, Inc. 0% 11/15/26 (b) | 10,415 | 6,580 | |
Akamai Technologies, Inc.: | |||
0.125% 5/1/25 | 12,628 | 13,828 | |
0.375% 9/1/27 | 10,268 | 10,304 | |
BigCommerce Holdings, Inc. 0.25% 10/1/26 (b) | 11,347 | 8,337 | |
Block, Inc.: | |||
0% 5/1/26 | 4,309 | 3,559 | |
0.125% 3/1/25 | 3,347 | 3,309 | |
0.25% 11/1/27 | 2,795 | 2,158 | |
0.5% 5/15/23 | 2,761 | 3,071 | |
Cloudflare, Inc.: | |||
0% 8/15/26(b) | 185 | 151 | |
0.75% 5/15/25 | 1,438 | 2,579 | |
Digitalocean Holdings, Inc. 0% 12/1/26 (b) | 5,653 | 4,331 | |
Fastly, Inc. 0% 3/15/26 | 12,275 | 9,096 | |
MongoDB, Inc. 0.25% 1/15/26 | 6,049 | 9,948 | |
Okta, Inc.: | |||
0.125% 9/1/25 | 5,657 | 5,137 | |
0.375% 6/15/26 | 5,411 | 4,561 | |
Perficient, Inc. 0.125% 11/15/26 (b) | 4,337 | 3,467 | |
Repay Holdings Corp. 0% 2/1/26 (b) | 2,027 | 1,534 | |
Shift4 Payments, Inc. 0% 12/15/25 | 280 | 253 | |
Shopify, Inc. 0.125% 11/1/25 | 3,180 | 2,706 | |
Wix.com Ltd. 0% 8/15/25 | 6,188 | 5,198 | |
100,107 | |||
Semiconductors & Semiconductor Equipment - 2.7% | |||
Camtek Ltd. 0% 12/1/26 (b) | 1,600 | 1,310 | |
Enphase Energy, Inc.: | |||
0% 3/1/26 | 260 | 307 | |
0% 3/1/28 | 260 | 319 | |
0.25% 3/1/25 | 1,850 | 6,518 | |
onsemi: | |||
0% 5/1/27 | 7,673 | 10,988 | |
1.625% 10/15/23 | 3,612 | 12,010 | |
SMART Global Holdings, Inc. 2.25% 2/15/26 | 200 | 223 | |
SolarEdge Technologies, Inc. 0% 9/15/25 | 5,940 | 7,268 | |
Veeco Instruments, Inc. 3.75% 6/1/27 | 150 | 255 | |
Wolfspeed, Inc.: | |||
0.25% 2/15/28(b) | 2,170 | 2,458 | |
1.75% 5/1/26 | 3,331 | 8,233 | |
49,889 | |||
Software - 16.3% | |||
8x8, Inc. 0.5% 2/1/24 | 4,969 | 4,174 | |
Altair Engineering, Inc. 0.25% 6/1/24 | 3,124 | 3,818 | |
Avalara, Inc. 0.25% 8/1/26 | 3,525 | 3,389 | |
Bentley Systems, Inc. 0.125% 1/15/26 | 200 | 182 | |
Bill.Com Holdings, Inc.: | |||
0% 12/1/25 | 3,240 | 4,027 | |
0% 4/1/27(b) | 212 | 180 | |
BlackLine, Inc.: | |||
0% 3/15/26 | 4,471 | 3,805 | |
0.125% 8/1/24 | 2,579 | 2,883 | |
Box, Inc. 0% 1/15/26 | 7,633 | 8,786 | |
Cerence, Inc. 3% 6/1/25 | 1,133 | 1,046 | |
Ceridian HCM Holding, Inc. 0.25% 3/15/26 | 8,297 | 7,015 | |
Confluent, Inc. 0% 1/15/27 (b) | 6,363 | 4,753 | |
Coupa Software, Inc.: | |||
0.125% 6/15/25 | 9,464 | 8,016 | |
0.375% 6/15/26 | 18,045 | 14,219 | |
CyberArk Software Ltd. 0% 11/15/24 | 4,989 | 5,601 | |
Datadog, Inc. 0.125% 6/15/25 | 3,118 | 4,169 | |
DocuSign, Inc. 0% 1/15/24 | 7,965 | 7,459 | |
Dropbox, Inc.: | |||
0% 3/1/26 | 1,969 | 1,774 | |
0% 3/1/28 | 2,025 | 1,790 | |
Dye & Durham Ltd. 3.75% 3/1/26 (b)(d) | CAD | 257 | 152 |
Everbridge, Inc.: | |||
0% 3/15/26 | 5,786 | 5,133 | |
0.125% 12/15/24 | 2,704 | 2,515 | |
Five9, Inc. 0.5% 6/1/25 | 6,758 | 6,846 | |
Guidewire Software, Inc. 1.25% 3/15/25 | 2,797 | 2,642 | |
HubSpot, Inc. 0.375% 6/1/25 | 4,667 | 6,380 | |
InterDigital, Inc. 3.5% 6/1/27 (b) | 270 | 257 | |
LivePerson, Inc.: | |||
0% 12/15/26 | 16,401 | 11,502 | |
0.75% 3/1/24 | 4,606 | 4,247 | |
Mandiant, Inc.: | |||
0.875% 6/1/24 | 5,809 | 6,515 | |
1.625% 6/1/35 | 3,351 | 3,333 | |
New Relic, Inc. 0.5% 5/1/23 | 4,454 | 4,354 | |
Nutanix, Inc. 0% 1/15/23 | 351 | 345 | |
Pagerduty, Inc. 1.25% 7/1/25 | 1,647 | 1,636 | |
Palo Alto Networks, Inc.: | |||
0.375% 6/1/25 | 13,950 | 26,477 | |
0.75% 7/1/23 | 11,781 | 24,705 | |
Pegasystems, Inc. 0.75% 3/1/25 | 1,489 | 1,227 | |
Progress Software Corp. 1% 4/15/26 | 4,250 | 4,284 | |
Q2 Holdings, Inc. 0.75% 6/1/26 | 4,003 | 3,397 | |
Rapid7, Inc.: | |||
0.25% 3/15/27 | 5,133 | 4,414 | |
2.25% 5/1/25 | 6,828 | 7,910 | |
RingCentral, Inc.: | |||
0% 3/1/25 | 5,282 | 4,453 | |
0% 3/15/26 | 9,276 | 7,254 | |
SailPoint Technologies Holding, Inc. 0.125% 9/15/24 | 2,686 | 6,221 | |
Splunk, Inc.: | |||
0.5% 9/15/23 | 2,974 | 2,885 | |
1.125% 9/15/25 | 7,367 | 7,006 | |
1.125% 6/15/27 | 2,650 | 2,223 | |
Tyler Technologies, Inc. 0.25% 3/15/26 | 8,400 | 8,366 | |
Unity Software, Inc. 0% 11/15/26 (b) | 5,982 | 4,516 | |
Varonis Systems, Inc. 1.25% 8/15/25 | 4,104 | 4,625 | |
Verint Systems, Inc. 0.25% 4/15/26 | 1,780 | 1,744 | |
Veritone, Inc. 1.75% 11/15/26 (b) | 2,634 | 1,736 | |
Workday, Inc. 0.25% 10/1/22 | 7,870 | 8,787 | |
Workiva, Inc. 1.125% 8/15/26 | 5,983 | 6,557 | |
Zendesk, Inc. 0.625% 6/15/25 | 7,815 | 7,647 | |
Zscaler, Inc. 0.125% 7/1/25 | 4,680 | 5,876 | |
295,253 | |||
TOTAL INFORMATION TECHNOLOGY | 461,910 | ||
MATERIALS - 1.2% | |||
Chemicals - 0.5% | |||
Amyris, Inc. 1.5% 11/15/26 (b) | 6,055 | 3,103 | |
Danimer Scientific, Inc. 3.25% 12/15/26 (b) | 260 | 166 | |
Livent Corp. 4.125% 7/15/25 | 1,384 | 5,213 | |
8,482 | |||
Metals & Mining - 0.7% | |||
ATI, Inc. 3.5% 6/15/25 | 170 | 345 | |
MP Materials Corp. 0.25% 4/1/26 (b) | 4,414 | 4,588 | |
SSR Mining, Inc. 2.5% 4/1/39 | 4,636 | 4,819 | |
United States Steel Corp. 5% 11/1/26 | 1,847 | 3,439 | |
13,191 | |||
TOTAL MATERIALS | 21,673 | ||
REAL ESTATE - 2.1% | |||
Equity Real Estate Investment Trusts (REITs) - 1.8% | |||
Pebblebrook Hotel Trust 1.75% 12/15/26 | 6,682 | 6,324 | |
Porch Group, Inc. 0.75% 9/15/26 (b) | 20,346 | 11,363 | |
Summit Hotel Properties, Inc. 1.5% 2/15/26 | 8,047 | 7,142 | |
Uniti Fiber Holdings, Inc. 4% 6/15/24 (b) | 7,971 | 8,300 | |
33,129 | |||
Real Estate Management & Development - 0.3% | |||
Opendoor Technologies, Inc. 0.25% 8/15/26 (b) | 2,614 | 1,648 | |
Realogy Group LLC/Realogy Co-Issuer Corp. 0.25% 6/15/26 | 268 | 203 | |
Redfin Corp.: | |||
0% 10/15/25 | 1,710 | 1,086 | |
0.5% 4/1/27 | 2,913 | 1,465 | |
Zillow Group, Inc. 2.75% 5/15/25 | 187 | 181 | |
4,583 | |||
TOTAL REAL ESTATE | 37,712 | ||
UTILITIES - 0.5% | |||
Electric Utilities - 0.2% | |||
NRG Energy, Inc. 2.75% 6/1/48 | 2,734 | 3,068 | |
Independent Power and Renewable Electricity Producers - 0.3% | |||
NextEra Energy Partners LP 0% 6/15/24 (b) | 210 | 211 | |
Ormat Technologies, Inc. 2.5% 7/15/27 (b) | 1,700 | 2,050 | |
Sunnova Energy International, Inc.: | |||
0.25% 12/1/26 | 200 | 185 | |
2.625% 2/15/28(b) | 3,980 | 3,910 | |
6,356 | |||
TOTAL UTILITIES | 9,424 | ||
TOTAL CONVERTIBLE BONDS | 1,221,426 | ||
Nonconvertible Bonds - 2.8% | |||
COMMUNICATION SERVICES - 0.5% | |||
Media - 0.5% | |||
Gannett Holdings LLC 6% 11/1/26 (b) | 11,650 | 9,087 | |
CONSUMER DISCRETIONARY - 0.0% | |||
Auto Components - 0.0% | |||
Luminar Technologies, Inc. 1.25% 12/15/26 (b) | 260 | 178 | |
CONSUMER STAPLES - 0.6% | |||
Food & Staples Retailing - 0.2% | |||
Albertsons Companies LLC/Safeway, Inc./New Albertson's, Inc./Albertson's LLC: | |||
3.5% 3/15/29(b) | 755 | 620 | |
4.875% 2/15/30(b) | 2,445 | 2,141 | |
2,761 | |||
Tobacco - 0.4% | |||
Turning Point Brands, Inc. 5.625% 2/15/26 (b) | 9,153 | 8,122 | |
TOTAL CONSUMER STAPLES | 10,883 | ||
ENERGY - 0.7% | |||
Oil, Gas & Consumable Fuels - 0.7% | |||
Calumet Specialty Products Partners LP/Calumet Finance Corp. 11% 4/15/25 (b) | 10,400 | 10,891 | |
SFL Corp. Ltd. 7.25% 5/12/26 (b) | 2,800 | 2,727 | |
13,618 | |||
HEALTH CARE - 0.2% | |||
Health Care Providers & Services - 0.2% | |||
Community Health Systems, Inc. 6.125% 4/1/30 (b) | 5,025 | 3,114 | |
INDUSTRIALS - 0.6% | |||
Construction & Engineering - 0.3% | |||
Pike Corp. 5.5% 9/1/28 (b) | 6,950 | 5,746 | |
Marine - 0.3% | |||
Seaspan Corp. 5.5% 8/1/29 (b) | 6,300 | 5,188 | |
TOTAL INDUSTRIALS | 10,934 | ||
MATERIALS - 0.2% | |||
Metals & Mining - 0.2% | |||
ERO Copper Corp. 6.5% 2/15/30 (b) | 1,177 | 872 | |
Infrabuild Australia Pty Ltd. 12% 10/1/24 (b) | 2,065 | 1,948 | |
2,820 | |||
TOTAL NONCONVERTIBLE BONDS | 50,634 | ||
TOTAL CORPORATE BONDS (Cost $1,292,824) | 1,272,060 | ||
Common Stocks - 14.3% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 0.4% | |||
Media - 0.4% | |||
Gannett Co., Inc. (e)(f) | 3,123,469 | 7,246 | |
CONSUMER DISCRETIONARY - 1.0% | |||
Hotels, Restaurants & Leisure - 1.0% | |||
A&W Revenue Royalties Income Fund | 172,700 | 4,700 | |
Super Group SGHC Ltd. (e)(f) | 3,078,412 | 12,745 | |
17,445 | |||
CONSUMER STAPLES - 0.3% | |||
Food & Staples Retailing - 0.3% | |||
Albertsons Companies, Inc. | 166,200 | 4,572 | |
ENERGY - 7.8% | |||
Oil, Gas & Consumable Fuels - 7.8% | |||
Calumet Specialty Products Partners LP (e) | 624,506 | 10,816 | |
DHT Holdings, Inc. | 7,895,212 | 61,660 | |
Enviva, Inc. | 76,161 | 5,295 | |
Euronav NV (f) | 2,337,600 | 37,963 | |
Scorpio Tankers, Inc. | 383,833 | 15,967 | |
SFL Corp. Ltd. | 855,326 | 9,152 | |
140,853 | |||
HEALTH CARE - 0.5% | |||
Health Care Technology - 0.2% | |||
Change Healthcare, Inc. (e) | 125,639 | 3,087 | |
Pharmaceuticals - 0.3% | |||
Sanofi SA sponsored ADR | 137,700 | 5,650 | |
TOTAL HEALTH CARE | 8,737 | ||
INDUSTRIALS - 1.7% | |||
Electrical Equipment - 1.7% | |||
Babcock & Wilcox Enterprises, Inc. (e)(f) | 3,895,085 | 31,083 | |
MATERIALS - 2.6% | |||
Chemicals - 0.6% | |||
Corteva, Inc. | 88,200 | 5,418 | |
Nutrien Ltd. | 64,000 | 5,875 | |
11,293 | |||
Metals & Mining - 2.0% | |||
Agnico Eagle Mines Ltd. (United States) (f) | 217,900 | 8,980 | |
Barrick Gold Corp. | 616,300 | 9,152 | |
Newmont Corp. | 217,500 | 8,996 | |
Wheaton Precious Metals Corp. | 302,900 | 9,246 | |
36,374 | |||
TOTAL MATERIALS | 47,667 | ||
TOTAL COMMON STOCKS (Cost $241,152) | 257,603 | ||
Convertible Preferred Stocks - 13.7% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 1.5% | |||
Media - 0.2% | |||
Paramount Global Series A 5.75% | 73,360 | 2,810 | |
Wireless Telecommunication Services - 1.3% | |||
T-Mobile U.S., Inc. 5.25% (b)(e) | 20,150 | 24,010 | |
TOTAL COMMUNICATION SERVICES | 26,820 | ||
CONSUMER DISCRETIONARY - 0.5% | |||
Auto Components - 0.3% | |||
Aptiv PLC Series A, 5.50% | 54,600 | 5,927 | |
Internet & Direct Marketing Retail - 0.2% | |||
Chewy, Inc. 6.50% (b) | 4,850 | 4,118 | |
TOTAL CONSUMER DISCRETIONARY | 10,045 | ||
FINANCIALS - 4.1% | |||
Banks - 3.8% | |||
Bank of America Corp. 7.25% | 26,589 | 32,614 | |
Wells Fargo & Co. 7.50% | 29,443 | 36,657 | |
69,271 | |||
Capital Markets - 0.3% | |||
KKR & Co. LP Series C, 6.00% | 76,600 | 4,784 | |
TOTAL FINANCIALS | 74,055 | ||
HEALTH CARE - 1.9% | |||
Health Care Equipment & Supplies - 0.8% | |||
Becton, Dickinson & Co. 6.50% | 103,200 | 5,181 | |
Boston Scientific Corp. Series A, 5.50% | 85,500 | 9,018 | |
14,199 | |||
Life Sciences Tools & Services - 1.1% | |||
Danaher Corp. Series B, 5.00% | 14,350 | 20,164 | |
TOTAL HEALTH CARE | 34,363 | ||
INDUSTRIALS - 1.6% | |||
Construction & Engineering - 0.7% | |||
Fluor Corp. 6.50% | 9,800 | 12,881 | |
Machinery - 0.5% | |||
RBC Bearings, Inc. | 74,500 | 8,792 | |
Professional Services - 0.4% | |||
Clarivate Analytics PLC 5.00% | 134,700 | 6,693 | |
TOTAL INDUSTRIALS | 28,366 | ||
INFORMATION TECHNOLOGY - 0.0% | |||
IT Services - 0.0% | |||
Sabre Corp. Series A, 6.50% | 1,900 | 180 | |
MATERIALS - 0.3% | |||
Metals & Mining - 0.3% | |||
ArcelorMittal SA 5.50% | 96,600 | 5,449 | |
UTILITIES - 3.8% | |||
Electric Utilities - 2.7% | |||
American Electric Power Co., Inc. 6.125% | 96,600 | 5,280 | |
NextEra Energy, Inc.: | |||
5.279% | 338,000 | 17,546 | |
6.219% | 272,100 | 14,231 | |
PG&E Corp. | 103,500 | 11,773 | |
48,830 | |||
Gas Utilities - 0.4% | |||
UGI Corp. 7.125% | 84,700 | 7,675 | |
Independent Power and Renewable Electricity Producers - 0.7% | |||
The AES Corp. 6.875% | 122,400 | 11,876 | |
Multi-Utilities - 0.0% | |||
NiSource, Inc. 7.75% | 2,200 | 248 | |
TOTAL UTILITIES | 68,629 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $246,994) | 247,907 | ||
Money Market Funds - 3.1% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 2.33% (g) | 37,599,518 | 37,607 | |
Fidelity Securities Lending Cash Central Fund 2.34% (g)(h) | 18,821,413 | 18,823 | |
TOTAL MONEY MARKET FUNDS (Cost $56,430) | 56,430 | ||
TOTAL INVESTMENT IN SECURITIES - 101.4% (Cost $1,837,400) | 1,834,000 |
NET OTHER ASSETS (LIABILITIES) - (1.4)% | (25,539) |
NET ASSETS - 100.0% | 1,808,461 |
Currency Abbreviations
CAD | - | Canadian dollar |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) | Amount is stated in United States dollars unless otherwise noted. |
(b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $309,197,000 or 17.1% of net assets. |
(c) | Non-income producing - Security is in default. |
(d) | Level 3 security |
(e) | Non-income producing |
(f) | Security or a portion of the security is on loan at period end. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(h) | Investment made with cash collateral received from securities on loan. |
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate (Amounts in thousands) | Value, beginning of period ($) | 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 2.33% | 25,542 | 714,746 | 702,681 | 449 | - | - | 37,607 | 0.1% |
Fidelity Securities Lending Cash Central Fund 2.34% | 12,818 | 157,189 | 151,184 | 147 | - | - | 18,823 | 0.1% |
Total | 38,360 | 871,935 | 853,865 | 596 | - | - | 56,430 | |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Amount 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. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
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 vendor 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 vendors or from brokers who make markets in such securities.Corporate Bonds are valued by pricing vendors 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 vendors. For foreign debt securities, when significant market or security specific events arise, valuations may be determined in good faith in accordance with procedures adopted by the Board. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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