Quarterly Holdings Report
for
Fidelity Advisor® Balanced Fund
May 31, 2024
AIG-NPRT3-0724
1.797921.120
Common Stocks - 62.1% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 5.9% | |||
Diversified Telecommunication Services - 0.3% | |||
AT&T, Inc. | 1,367,000 | 24,907 | |
Cellnex Telecom SA (a) | 53,800 | 1,965 | |
Liberty Global Ltd. Class C | 90,669 | 1,548 | |
28,420 | |||
Entertainment - 1.0% | |||
Capcom Co. Ltd. | 69,400 | 1,280 | |
Lionsgate Studios Corp. (b) | 64,172 | 535 | |
Netflix, Inc. (c) | 39,287 | 25,207 | |
Roblox Corp. (c) | 67,300 | 2,263 | |
Roku, Inc. Class A (c) | 22,100 | 1,269 | |
Sea Ltd. ADR (c) | 175,900 | 11,877 | |
Spotify Technology SA (c) | 12,000 | 3,561 | |
Take-Two Interactive Software, Inc. (c) | 13,380 | 2,146 | |
The Walt Disney Co. | 261,425 | 27,165 | |
TKO Group Holdings, Inc. | 81,400 | 8,878 | |
Ubisoft Entertainment SA (c) | 132,400 | 3,238 | |
87,419 | |||
Interactive Media & Services - 4.3% | |||
Alphabet, Inc.: | |||
Class A | 891,140 | 153,722 | |
Class C | 222,220 | 38,657 | |
Bumble, Inc. (c) | 92,300 | 1,080 | |
Epic Games, Inc. (b)(c)(d) | 1,715 | 1,029 | |
Match Group, Inc. (c) | 44,400 | 1,360 | |
Meta Platforms, Inc. Class A | 329,075 | 153,622 | |
Pinterest, Inc. Class A (c) | 78,700 | 3,265 | |
Snap, Inc. Class A (c) | 519,230 | 7,799 | |
360,534 | |||
Media - 0.3% | |||
Altice U.S.A., Inc. Class A (c) | 1,671,545 | 4,145 | |
Charter Communications, Inc. Class A (c) | 15,100 | 4,336 | |
Comcast Corp. Class A | 161,626 | 6,470 | |
Ibotta, Inc. | 2,300 | 223 | |
Liberty Broadband Corp. Class A (c) | 120,501 | 6,536 | |
Paramount Global Class B | 29,300 | 349 | |
22,059 | |||
TOTAL COMMUNICATION SERVICES | 498,432 | ||
CONSUMER DISCRETIONARY - 6.3% | |||
Automobile Components - 0.1% | |||
Adient PLC (c) | 114,100 | 3,222 | |
Aptiv PLC (c) | 62,100 | 5,170 | |
8,392 | |||
Automobiles - 0.5% | |||
Tesla, Inc. (c) | 249,700 | 44,467 | |
Broadline Retail - 2.8% | |||
Amazon.com, Inc. (c) | 1,328,500 | 234,401 | |
Etsy, Inc. (c) | 45,500 | 2,888 | |
237,289 | |||
Distributors - 0.1% | |||
LKQ Corp. | 114,300 | 4,918 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (c) | 47,000 | 6,812 | |
Booking Holdings, Inc. | 5,100 | 19,259 | |
Caesars Entertainment, Inc. (c) | 94,500 | 3,360 | |
Churchill Downs, Inc. | 67,000 | 8,677 | |
Domino's Pizza, Inc. | 14,200 | 7,222 | |
Flutter Entertainment PLC (c) | 18,100 | 3,483 | |
Marriott International, Inc. Class A | 62,600 | 14,471 | |
McDonald's Corp. | 18,200 | 4,712 | |
Red Rock Resorts, Inc. | 48,700 | 2,496 | |
Restaurant Brands International, Inc. | 147,200 | 10,094 | |
Starbucks Corp. | 90,700 | 7,276 | |
Yum! Brands, Inc. | 117,100 | 16,093 | |
103,955 | |||
Household Durables - 0.1% | |||
D.R. Horton, Inc. | 6,000 | 887 | |
Mohawk Industries, Inc. (c) | 32,200 | 3,926 | |
4,813 | |||
Leisure Products - 0.0% | |||
Brunswick Corp. | 26,900 | 2,220 | |
Specialty Retail - 1.1% | |||
Burlington Stores, Inc. (c) | 16,700 | 4,009 | |
Cazoo Group Ltd. (b)(c) | 26 | 0 | |
Cazoo Group Ltd.: | |||
warrants (c) | 28 | 0 | |
warrants (c) | 31 | 0 | |
warrants (c) | 34 | 0 | |
Foot Locker, Inc. | 41,700 | 1,156 | |
Lowe's Companies, Inc. | 158,100 | 34,986 | |
The Home Depot, Inc. | 47,809 | 16,010 | |
TJX Companies, Inc. | 309,530 | 31,913 | |
Valvoline, Inc. (c) | 96,800 | 3,930 | |
92,004 | |||
Textiles, Apparel & Luxury Goods - 0.4% | |||
NIKE, Inc. Class B | 173,364 | 16,478 | |
PVH Corp. | 65,600 | 7,873 | |
Tapestry, Inc. | 190,800 | 8,298 | |
32,649 | |||
TOTAL CONSUMER DISCRETIONARY | 530,707 | ||
CONSUMER STAPLES - 3.8% | |||
Beverages - 1.2% | |||
Brown-Forman Corp. Class B (non-vtg.) | 53,200 | 2,440 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 41,300 | 10,334 | |
Diageo PLC | 43,564 | 1,467 | |
Keurig Dr. Pepper, Inc. | 435,100 | 14,902 | |
Monster Beverage Corp. (c) | 208,750 | 10,838 | |
PepsiCo, Inc. | 88,800 | 15,354 | |
The Coca-Cola Co. | 698,800 | 43,975 | |
99,310 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 67,700 | 3,951 | |
Costco Wholesale Corp. | 56,400 | 45,678 | |
Dollar Tree, Inc. (c) | 18,400 | 2,170 | |
Target Corp. | 54,100 | 8,448 | |
U.S. Foods Holding Corp. (c) | 114,972 | 6,074 | |
Walmart, Inc. | 488,300 | 32,111 | |
98,432 | |||
Food Products - 0.3% | |||
Lamb Weston Holdings, Inc. | 48,800 | 4,309 | |
McCormick & Co., Inc. (non-vtg.) | 60,700 | 4,384 | |
Mondelez International, Inc. | 127,200 | 8,717 | |
The J.M. Smucker Co. | 61,900 | 6,911 | |
24,321 | |||
Household Products - 0.7% | |||
Procter & Gamble Co. | 333,000 | 54,792 | |
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 50,400 | 6,217 | |
Kenvue, Inc. | 676,400 | 13,055 | |
19,272 | |||
Tobacco - 0.2% | |||
Philip Morris International, Inc. | 206,400 | 20,925 | |
TOTAL CONSUMER STAPLES | 317,052 | ||
ENERGY - 2.5% | |||
Energy Equipment & Services - 0.1% | |||
Expro Group Holdings NV (c) | 159,900 | 3,510 | |
Weatherford International PLC (c) | 56,200 | 6,763 | |
10,273 | |||
Oil, Gas & Consumable Fuels - 2.4% | |||
Africa Oil Corp. | 2,430,276 | 4,654 | |
Athabasca Oil Corp. (c) | 1,608,000 | 5,911 | |
Exxon Mobil Corp. | 812,191 | 95,238 | |
Galp Energia SGPS SA Class B | 403,600 | 8,487 | |
Hess Corp. | 53,700 | 8,275 | |
Imperial Oil Ltd. | 231,485 | 16,356 | |
Kosmos Energy Ltd. (c) | 444,400 | 2,711 | |
MEG Energy Corp. (c) | 625,300 | 13,575 | |
Phillips 66 Co. | 82,374 | 11,706 | |
Shell PLC ADR | 209,200 | 15,226 | |
Valero Energy Corp. | 97,700 | 15,353 | |
197,492 | |||
TOTAL ENERGY | 207,765 | ||
FINANCIALS - 8.2% | |||
Banks - 3.0% | |||
AIB Group PLC | 773,866 | 4,404 | |
Bank of America Corp. | 986,344 | 39,444 | |
Citigroup, Inc. | 333,674 | 20,791 | |
Citizens Financial Group, Inc. | 182,199 | 6,430 | |
Eurobank Ergasias Services and Holdings SA (c) | 3,054,272 | 6,677 | |
HDFC Bank Ltd. | 127,600 | 2,344 | |
JPMorgan Chase & Co. | 408,582 | 82,791 | |
KeyCorp | 578,079 | 8,307 | |
M&T Bank Corp. | 67,236 | 10,193 | |
Pathward Financial, Inc. | 63,545 | 3,388 | |
Piraeus Financial Holdings SA (c) | 864,400 | 3,396 | |
PNC Financial Services Group, Inc. | 99,080 | 15,594 | |
Starling Bank Ltd. Series D (b)(c)(d) | 659,301 | 2,663 | |
UMB Financial Corp. | 46,841 | 3,862 | |
Wells Fargo & Co. | 630,709 | 37,792 | |
248,076 | |||
Capital Markets - 1.7% | |||
Bank of New York Mellon Corp. | 168,394 | 10,038 | |
BlackRock, Inc. Class A | 13,917 | 10,744 | |
Cboe Global Markets, Inc. | 57,811 | 10,001 | |
Charles Schwab Corp. | 21,567 | 1,580 | |
CVC Capital Partners PLC (a) | 75,800 | 1,473 | |
Interactive Brokers Group, Inc. | 15,683 | 1,972 | |
Intercontinental Exchange, Inc. | 131,200 | 17,568 | |
London Stock Exchange Group PLC | 46,389 | 5,438 | |
LPL Financial | 30,289 | 8,669 | |
MarketAxess Holdings, Inc. | 44,982 | 8,948 | |
Moody's Corp. | 24,382 | 9,679 | |
Morgan Stanley | 287,334 | 28,113 | |
Northern Trust Corp. | 24,600 | 2,072 | |
State Street Corp. | 147,166 | 11,124 | |
StepStone Group, Inc. Class A | 115,464 | 4,958 | |
Tradeweb Markets, Inc. Class A | 46,574 | 5,077 | |
UBS Group AG | 208,617 | 6,651 | |
Virtu Financial, Inc. Class A | 119,017 | 2,618 | |
146,723 | |||
Consumer Finance - 0.2% | |||
Discover Financial Services | 106,067 | 13,010 | |
OneMain Holdings, Inc. | 72,677 | 3,570 | |
16,580 | |||
Financial Services - 1.9% | |||
Apollo Global Management, Inc. | 157,161 | 18,256 | |
Berkshire Hathaway, Inc. Class A (c) | 11 | 6,901 | |
Block, Inc. Class A (c) | 387,691 | 24,843 | |
Corpay, Inc. (c) | 48,063 | 12,865 | |
Fiserv, Inc. (c) | 96,461 | 14,446 | |
Global Payments, Inc. | 70,631 | 7,194 | |
Jumo World Holding Ltd. (b)(d) | 162,299 | 289 | |
Jumo World Ltd. (c)(d) | 162 | 0 | |
PayPal Holdings, Inc. (c) | 60,100 | 3,786 | |
UWM Holdings Corp. Class A (e) | 560,508 | 4,131 | |
Visa, Inc. Class A | 239,853 | 65,350 | |
Voya Financial, Inc. | 48,091 | 3,646 | |
161,707 | |||
Insurance - 1.4% | |||
Arthur J. Gallagher & Co. | 55,548 | 14,072 | |
Chubb Ltd. | 84,674 | 22,931 | |
Direct Line Insurance Group PLC | 1,439,276 | 3,953 | |
Everest Re Group Ltd. | 15,458 | 6,043 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 9,588 | 10,793 | |
Hartford Financial Services Group, Inc. | 137,559 | 14,230 | |
Marsh & McLennan Companies, Inc. | 92,530 | 19,207 | |
Progressive Corp. | 57,378 | 12,117 | |
Prudential PLC | 152,687 | 1,463 | |
Unum Group | 160,831 | 8,662 | |
113,471 | |||
TOTAL FINANCIALS | 686,557 | ||
HEALTH CARE - 7.7% | |||
Biotechnology - 0.8% | |||
Argenx SE ADR (c) | 14,300 | 5,306 | |
Exact Sciences Corp. (c) | 52,400 | 2,382 | |
Gilead Sciences, Inc. | 95,036 | 6,108 | |
Moderna, Inc. (c) | 130,800 | 18,646 | |
Regeneron Pharmaceuticals, Inc. (c) | 33,477 | 32,813 | |
Vertex Pharmaceuticals, Inc. (c) | 6,203 | 2,824 | |
68,079 | |||
Health Care Equipment & Supplies - 1.7% | |||
Boston Scientific Corp. (c) | 924,162 | 69,839 | |
Intuitive Surgical, Inc. (c) | 75,793 | 30,478 | |
Penumbra, Inc. (c) | 15,938 | 3,020 | |
Stryker Corp. | 127,293 | 43,418 | |
146,755 | |||
Health Care Providers & Services - 1.7% | |||
Cencora, Inc. | 139,668 | 31,645 | |
CVS Health Corp. | 18,839 | 1,123 | |
Elevance Health, Inc. | 55,292 | 29,774 | |
Surgery Partners, Inc. (c) | 407,005 | 11,233 | |
Tenet Healthcare Corp. (c) | 84,500 | 11,426 | |
UnitedHealth Group, Inc. | 112,761 | 55,858 | |
141,059 | |||
Life Sciences Tools & Services - 0.6% | |||
Danaher Corp. | 129,300 | 33,204 | |
Sartorius Stedim Biotech | 12,300 | 2,450 | |
Thermo Fisher Scientific, Inc. | 20,906 | 11,874 | |
47,528 | |||
Pharmaceuticals - 2.9% | |||
AstraZeneca PLC sponsored ADR | 320,568 | 25,011 | |
Eli Lilly & Co. | 120,341 | 98,721 | |
Indivior PLC (c) | 442,183 | 8,188 | |
Merck & Co., Inc. | 500,910 | 62,884 | |
Royalty Pharma PLC | 454,648 | 12,462 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (c) | 334,200 | 5,658 | |
UCB SA | 186,283 | 26,130 | |
239,054 | |||
TOTAL HEALTH CARE | 642,475 | ||
INDUSTRIALS - 5.6% | |||
Aerospace & Defense - 1.6% | |||
General Electric Co. | 240,198 | 39,666 | |
Howmet Aerospace, Inc. | 181,000 | 15,322 | |
Lockheed Martin Corp. | 52,930 | 24,895 | |
Northrop Grumman Corp. | 18,946 | 8,540 | |
RTX Corp. | 64,252 | 6,927 | |
Space Exploration Technologies Corp. Class A (b)(c)(d) | 16,000 | 1,552 | |
The Boeing Co. (c) | 114,382 | 20,315 | |
TransDigm Group, Inc. | 12,500 | 16,790 | |
134,007 | |||
Air Freight & Logistics - 0.1% | |||
FedEx Corp. | 31,700 | 8,051 | |
Building Products - 0.5% | |||
Trane Technologies PLC | 133,881 | 43,841 | |
Construction & Engineering - 0.1% | |||
Quanta Services, Inc. | 38,900 | 10,734 | |
Electrical Equipment - 0.8% | |||
AMETEK, Inc. | 174,632 | 29,614 | |
Eaton Corp. PLC | 74,900 | 24,930 | |
GE Vernova LLC | 60,049 | 10,563 | |
65,107 | |||
Ground Transportation - 0.7% | |||
CSX Corp. | 446,950 | 15,085 | |
Old Dominion Freight Lines, Inc. | 99,600 | 17,455 | |
Uber Technologies, Inc. (c) | 173,504 | 11,201 | |
Union Pacific Corp. | 68,400 | 15,925 | |
59,666 | |||
Machinery - 1.6% | |||
Caterpillar, Inc. | 64,113 | 21,704 | |
Deere & Co. | 17,000 | 6,371 | |
Dover Corp. | 135,400 | 24,889 | |
Fortive Corp. | 228,831 | 17,034 | |
Ingersoll Rand, Inc. | 300,700 | 27,980 | |
Parker Hannifin Corp. | 70,037 | 37,226 | |
135,204 | |||
Passenger Airlines - 0.1% | |||
Delta Air Lines, Inc. | 83,000 | 4,235 | |
Professional Services - 0.1% | |||
Dun & Bradstreet Holdings, Inc. | 564,520 | 5,414 | |
TOTAL INDUSTRIALS | 466,259 | ||
INFORMATION TECHNOLOGY - 17.9% | |||
IT Services - 0.5% | |||
Capgemini SA | 56,100 | 11,366 | |
EPAM Systems, Inc. (c) | 31,700 | 5,640 | |
MongoDB, Inc. Class A (c) | 39,400 | 9,301 | |
Snowflake, Inc. (c) | 38,200 | 5,202 | |
Twilio, Inc. Class A (c) | 96,900 | 5,562 | |
37,071 | |||
Semiconductors & Semiconductor Equipment - 6.9% | |||
Advanced Micro Devices, Inc. (c) | 114,200 | 19,060 | |
Alchip Technologies Ltd. | 9,000 | 802 | |
ASML Holding NV (Netherlands) | 25,900 | 24,780 | |
Astera Labs, Inc. | 9,500 | 613 | |
Astera Labs, Inc. (k) | 70,350 | 4,540 | |
Lattice Semiconductor Corp. (c) | 97,100 | 7,209 | |
Marvell Technology, Inc. | 212,100 | 14,595 | |
Micron Technology, Inc. | 371,887 | 46,486 | |
NVIDIA Corp. | 331,200 | 363,104 | |
NXP Semiconductors NV | 68,897 | 18,747 | |
ON Semiconductor Corp. (c) | 270,400 | 19,750 | |
Renesas Electronics Corp. | 488,800 | 9,007 | |
SolarEdge Technologies, Inc. (c) | 140,100 | 6,863 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 1,754,000 | 44,800 | |
580,356 | |||
Software - 7.5% | |||
Adobe, Inc. (c) | 97,300 | 43,275 | |
Autodesk, Inc. (c) | 73,300 | 14,777 | |
CCC Intelligent Solutions Holdings, Inc. (b)(c) | 34,443 | 385 | |
Elastic NV (c) | 66,796 | 6,950 | |
Five9, Inc. (c) | 149,300 | 6,981 | |
HubSpot, Inc. (c) | 25,700 | 15,704 | |
Intuit, Inc. | 49,000 | 28,246 | |
Microsoft Corp. | 1,063,100 | 441,325 | |
Salesforce, Inc. | 164,989 | 38,680 | |
Stripe, Inc. Class B (b)(c)(d) | 15,600 | 406 | |
Synopsys, Inc. (c) | 37,300 | 20,918 | |
Tenable Holdings, Inc. (c) | 101,900 | 4,299 | |
Workday, Inc. Class A (c) | 43,200 | 9,135 | |
631,081 | |||
Technology Hardware, Storage & Peripherals - 3.0% | |||
Apple, Inc. | 1,268,420 | 243,854 | |
Wiwynn Corp. | 74,000 | 5,649 | |
249,503 | |||
TOTAL INFORMATION TECHNOLOGY | 1,498,011 | ||
MATERIALS - 1.4% | |||
Chemicals - 1.0% | |||
Air Products & Chemicals, Inc. | 21,227 | 5,661 | |
Axalta Coating Systems Ltd. (c) | 133,420 | 4,748 | |
Cabot Corp. | 28,480 | 2,914 | |
Corteva, Inc. | 113,550 | 6,352 | |
Dow, Inc. | 180,240 | 10,387 | |
Ecolab, Inc. | 54,920 | 12,752 | |
Element Solutions, Inc. | 142,320 | 3,420 | |
Linde PLC | 64,953 | 28,288 | |
Olin Corp. | 33,702 | 1,812 | |
The Chemours Co. LLC | 143,480 | 3,561 | |
Tronox Holdings PLC | 160,060 | 3,171 | |
Westlake Corp. | 12,960 | 2,081 | |
85,147 | |||
Construction Materials - 0.1% | |||
Martin Marietta Materials, Inc. | 10,147 | 5,805 | |
Containers & Packaging - 0.0% | |||
Aptargroup, Inc. | 24,690 | 3,646 | |
Metals & Mining - 0.3% | |||
First Quantum Minerals Ltd. | 209,500 | 2,691 | |
Franco-Nevada Corp. | 21,950 | 2,701 | |
Freeport-McMoRan, Inc. | 159,178 | 8,393 | |
Ivanhoe Mines Ltd. (c) | 191,180 | 2,760 | |
Nucor Corp. | 37,600 | 6,349 | |
Teck Resources Ltd. Class B | 52,190 | 2,716 | |
25,610 | |||
TOTAL MATERIALS | 120,208 | ||
REAL ESTATE - 1.3% | |||
Equity Real Estate Investment Trusts (REITs) - 1.3% | |||
Alexandria Real Estate Equities, Inc. | 3,000 | 357 | |
American Tower Corp. | 65,200 | 12,762 | |
COPT Defense Properties (SBI) | 52,300 | 1,290 | |
Crown Castle, Inc. | 69,500 | 7,124 | |
CubeSmart | 96,000 | 4,062 | |
Digital Realty Trust, Inc. | 31,900 | 4,636 | |
Equinix, Inc. | 12,700 | 9,690 | |
Equity Lifestyle Properties, Inc. | 67,400 | 4,231 | |
Essex Property Trust, Inc. | 12,000 | 3,117 | |
Extra Space Storage, Inc. | 1,711 | 248 | |
Invitation Homes, Inc. | 238,700 | 8,304 | |
Mid-America Apartment Communities, Inc. | 26,100 | 3,490 | |
Omega Healthcare Investors, Inc. | 67,800 | 2,192 | |
Prologis, Inc. | 126,500 | 13,977 | |
Public Storage | 25,400 | 6,955 | |
Simon Property Group, Inc. | 64,200 | 9,714 | |
Sun Communities, Inc. | 26,500 | 3,127 | |
Terreno Realty Corp. | 31,000 | 1,754 | |
Ventas, Inc. | 98,700 | 4,961 | |
Welltower, Inc. | 92,900 | 9,631 | |
111,622 | |||
Real Estate Management & Development - 0.0% | |||
Digitalbridge Group, Inc. | 69,000 | 941 | |
TOTAL REAL ESTATE | 112,563 | ||
UTILITIES - 1.5% | |||
Electric Utilities - 1.1% | |||
American Electric Power Co., Inc. | 32,800 | 2,960 | |
Constellation Energy Corp. | 53,044 | 11,524 | |
Edison International | 128,800 | 9,898 | |
Entergy Corp. | 59,600 | 6,704 | |
Eversource Energy | 108,356 | 6,418 | |
FirstEnergy Corp. | 149,000 | 5,999 | |
NextEra Energy, Inc. | 292,600 | 23,414 | |
NRG Energy, Inc. | 47,400 | 3,839 | |
PG&E Corp. | 684,662 | 12,694 | |
PPL Corp. | 209,200 | 6,136 | |
Southern Co. | 82,700 | 6,628 | |
96,214 | |||
Independent Power and Renewable Electricity Producers - 0.1% | |||
The AES Corp. | 253,100 | 5,464 | |
Vistra Corp. | 65,400 | 6,480 | |
11,944 | |||
Multi-Utilities - 0.3% | |||
NiSource, Inc. | 173,100 | 5,030 | |
Public Service Enterprise Group, Inc. | 31,300 | 2,371 | |
Sempra | 172,948 | 13,322 | |
20,723 | |||
TOTAL UTILITIES | 128,881 | ||
TOTAL COMMON STOCKS (Cost $3,066,413) | 5,208,910 | ||
Preferred Stocks - 0.2% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 0.2% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (b)(c)(d) | 18,992 | 4,509 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (b)(c)(d) | 38,272 | 1,145 | |
INDUSTRIALS - 0.0% | |||
Aerospace & Defense - 0.0% | |||
ABL Space Systems: | |||
Series B(b)(c)(d) | 16,809 | 456 | |
Series B2(b)(c)(d) | 8,427 | 250 | |
706 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series A (b)(c)(d) | 6,703 | 740 | |
TOTAL INDUSTRIALS | 1,446 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Communications Equipment - 0.0% | |||
Astranis Space Technologies Corp. Series C (b)(c)(d) | 56,066 | 722 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
Xsight Labs Ltd. Series D (b)(c)(d) | 60,136 | 309 | |
Software - 0.1% | |||
Algolia, Inc. Series D (b)(c)(d) | 28,657 | 499 | |
Bolt Technology OU Series E (b)(c)(d) | 6,388 | 848 | |
Databricks, Inc.: | |||
Series G(b)(c)(d) | 4,077 | 321 | |
Series H(b)(c)(d) | 19,485 | 1,532 | |
Skyryse, Inc. Series B (b)(c)(d) | 50,800 | 1,033 | |
Stripe, Inc. Series H (b)(c)(d) | 18,549 | 482 | |
4,715 | |||
TOTAL INFORMATION TECHNOLOGY | 5,746 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS | 12,846 | ||
Nonconvertible Preferred Stocks - 0.0% | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series E (b)(c)(d) | 62,279 | 1,863 | |
INDUSTRIALS - 0.0% | |||
Professional Services - 0.0% | |||
Checkr, Inc. Series E (c)(d) | 91,236 | 742 | |
INFORMATION TECHNOLOGY - 0.0% | |||
IT Services - 0.0% | |||
Gupshup, Inc. (b)(c)(d) | 58,730 | 557 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 3,162 | ||
TOTAL PREFERRED STOCKS (Cost $17,390) | 16,008 | ||
Nonconvertible Bonds - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (b)(d) (Cost $941) | 941 | 941 | |
U.S. Treasury Obligations - 0.1% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
U.S. Treasury Bills, yield at date of purchase 5.26% to 5.32% 6/6/24 to 7/5/24 (g) (Cost $7,778) | 7,800 | 7,780 | |
Fixed-Income Funds - 35.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Investment Grade Bond Central Fund (h) (Cost $3,321,970) | 30,816,519 | 2,963,625 | |
Money Market Funds - 2.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.39% (i) | 187,964,375 | 188,002 | |
Fidelity Securities Lending Cash Central Fund 5.39% (i)(j) | 3,986,976 | 3,987 | |
TOTAL MONEY MARKET FUNDS (Cost $191,989) | 191,989 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $6,606,481) | 8,389,253 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (681) |
NET ASSETS - 100.0% | 8,388,572 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) (000s) | Value ($) (000s) | Unrealized Appreciation/ (Depreciation) ($) (000s) | |
Purchased | |||||
Equity Index Contracts | |||||
CME E-mini S&P 500 Index Contracts (United States) | 450 | Jun 2024 | 119,149 | 2,049 | 2,049 |
The notional amount of futures purchased as a percentage of Net Assets is 1.4% |
Any values shown as $0 in the Schedule of Investments may reflect amounts less than $500.
Legend
(a) | 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 $3,438,000 or 0.0% of net assets. |
(b) | Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $23,066,000 or 0.3% of net assets. |
(c) | Non-income producing |
(d) | Level 3 security |
(e) | Security or a portion of the security is on loan at period end. |
(f) | Amount is stated in United States dollars unless otherwise noted. |
(g) | 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 $5,353,000. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(i) | 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. |
(j) | Investment made with cash collateral received from securities on loan. |
(k) | Equity security is subject to lock-up or market standoff agreement. Fair value is based on the unadjusted market price of the equivalent equity security. As of period end, the total fair value of unadjusted equity securities subject to contractual sale restrictions is $4,540 and all restrictions are set to expire on or before September 30, 2024. Under normal market conditions, there are no circumstances that could cause the restrictions to lapse. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ABL Space Systems Series B | 3/24/21 | 757 |
ABL Space Systems Series B2 | 10/22/21 | 573 |
Algolia, Inc. Series D | 7/23/21 | 838 |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 941 |
Astranis Space Technologies Corp. Series C | 3/19/21 | 1,229 |
Beta Technologies, Inc. Series A | 4/09/21 | 491 |
Bolt Technology OU Series E | 1/03/22 | 1,660 |
ByteDance Ltd. Series E1 | 11/18/20 | 2,081 |
Cazoo Group Ltd. | 3/28/21 | 431 |
CCC Intelligent Solutions Holdings, Inc. | 2/02/21 | 344 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 1,011 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 1,613 |
Databricks, Inc. Series G | 2/01/21 | 241 |
Databricks, Inc. Series H | 8/31/21 | 1,432 |
Epic Games, Inc. | 3/29/21 | 1,518 |
Gupshup, Inc. | 6/08/21 | 1,343 |
Jumo World Holding Ltd. | 9/06/23 | 162 |
Lionsgate Studios Corp. | 12/22/23 | 618 |
Skyryse, Inc. Series B | 10/21/21 | 1,254 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 672 |
Starling Bank Ltd. Series D | 6/18/21 | 1,179 |
Stripe, Inc. Class B | 5/18/21 | 626 |
Stripe, Inc. Series H | 3/15/21 - 5/25/23 | 744 |
Xsight Labs Ltd. Series D | 2/16/21 | 481 |
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 5.39% | 177,072 | 1,107,798 | 1,096,871 | 6,508 | 3 | - | 188,002 | 0.4% |
Fidelity Investment Grade Bond Central Fund | 2,528,957 | 440,457 | - | 87,036 | - | (5,789) | 2,963,625 | 7.5% |
Fidelity Securities Lending Cash Central Fund 5.39% | 1,120 | 63,965 | 61,098 | 21 | - | - | 3,987 | 0.0% |
Total | 2,707,149 | 1,612,220 | 1,157,969 | 93,565 | 3 | (5,789) | 3,155,614 | |
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. Nonconvertible Bonds and U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. 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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