UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-00649
Fidelity Puritan Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Margaret Carey, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | August 31 |
Date of reporting period: | February 29, 2024 |
Item 1.
Reports to Stockholders
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 6.2 | |
NVIDIA Corp. | 3.8 | |
Amazon.com, Inc. | 3.4 | |
Meta Platforms, Inc. Class A | 2.4 | |
Alphabet, Inc. Class C | 2.4 | |
Eaton Corp. PLC | 1.9 | |
Eli Lilly & Co. | 1.6 | |
MasterCard, Inc. Class A | 1.6 | |
Boston Scientific Corp. | 1.4 | |
Apple, Inc. | 1.4 | |
26.1 | ||
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
U.S. Treasury Obligations | 12.5 | |
Fannie Mae | 2.2 | |
Freddie Mac | 2.0 | |
Ginnie Mae | 1.5 | |
Uniform Mortgage Backed Securities | 1.5 | |
JPMorgan Chase & Co. | 0.6 | |
Morgan Stanley | 0.6 | |
Bank of America Corp. | 0.5 | |
BX Commercial Mortgage Trust | 0.4 | |
Citigroup, Inc. | 0.2 | |
22.0 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 19.5 | |
Financials | 15.7 | |
Industrials | 10.0 | |
Health Care | 8.7 | |
Consumer Discretionary | 7.8 | |
Communication Services | 7.3 | |
Energy | 2.7 | |
Materials | 2.5 | |
Consumer Staples | 1.5 | |
Real Estate | 1.2 | |
Utilities | 0.6 | |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.0)% |
Written options - (0.1)% |
Futures and Swaps - (0.6)% |
Common Stocks - 64.7% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 6.0% | |||
Entertainment - 1.0% | |||
LiveOne, Inc. (a)(b) | 354,306 | 573,976 | |
Netflix, Inc. (a) | 9,628 | 5,804,914 | |
PodcastOne, Inc. | 16,874 | 32,398 | |
Roblox Corp. (a) | 31,402 | 1,252,940 | |
Spotify Technology SA (a) | 4,765 | 1,221,794 | |
The Walt Disney Co. | 59,432 | 6,631,423 | |
TKO Group Holdings, Inc. | 3,409 | 285,436 | |
Universal Music Group NV | 33,989 | 1,026,142 | |
16,829,023 | |||
Interactive Media & Services - 4.8% | |||
Alphabet, Inc. Class C (a) | 277,695 | 38,816,207 | |
Meta Platforms, Inc. Class A | 80,390 | 39,401,551 | |
78,217,758 | |||
Media - 0.2% | |||
Comcast Corp. Class A | 71,132 | 3,048,006 | |
TOTAL COMMUNICATION SERVICES | 98,094,787 | ||
CONSUMER DISCRETIONARY - 7.0% | |||
Automobiles - 0.1% | |||
General Motors Co. | 41,686 | 1,708,292 | |
Broadline Retail - 3.4% | |||
Amazon.com, Inc. (a) | 310,666 | 54,913,322 | |
Etsy, Inc. (a) | 8,461 | 606,569 | |
55,519,891 | |||
Hotels, Restaurants & Leisure - 1.1% | |||
Airbnb, Inc. Class A (a) | 59,181 | 9,319,232 | |
Compass Group PLC | 23,773 | 652,298 | |
Domino's Pizza, Inc. | 2,628 | 1,178,264 | |
Draftkings Holdings, Inc. (a) | 8,746 | 378,877 | |
Hilton Worldwide Holdings, Inc. | 33,251 | 6,793,844 | |
18,322,515 | |||
Household Durables - 0.2% | |||
D.R. Horton, Inc. | 16,622 | 2,483,992 | |
Specialty Retail - 1.4% | |||
Abercrombie & Fitch Co. Class A (a) | 18,455 | 2,357,811 | |
Lowe's Companies, Inc. | 48,405 | 11,649,631 | |
Revolve Group, Inc. (a) | 4,012 | 87,983 | |
RH (a) | 793 | 217,599 | |
TJX Companies, Inc. | 84,987 | 8,425,611 | |
22,738,635 | |||
Textiles, Apparel & Luxury Goods - 0.8% | |||
Brunello Cucinelli SpA | 2,067 | 247,976 | |
Brunello Cucinelli SpA | 63,029 | 7,561,514 | |
Moncler SpA | 5,474 | 394,381 | |
NIKE, Inc. Class B | 18,418 | 1,914,183 | |
On Holding AG (a) | 2,707 | 94,799 | |
Ralph Lauren Corp. | 14,306 | 2,659,772 | |
12,872,625 | |||
TOTAL CONSUMER DISCRETIONARY | 113,645,950 | ||
CONSUMER STAPLES - 0.8% | |||
Beverages - 0.2% | |||
Monster Beverage Corp. | 40,368 | 2,385,749 | |
Consumer Staples Distribution & Retail - 0.3% | |||
Dollar Tree, Inc. (a) | 6,660 | 976,889 | |
Performance Food Group Co. (a) | 10,098 | 775,223 | |
Target Corp. | 14,909 | 2,279,884 | |
Walmart, Inc. | 21,027 | 1,232,392 | |
5,264,388 | |||
Household Products - 0.1% | |||
The Clorox Co. | 15,354 | 2,353,922 | |
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 13,111 | 1,948,032 | |
Kenvue, Inc. | 81,912 | 1,556,328 | |
L'Oreal SA | 182 | 86,936 | |
3,591,296 | |||
TOTAL CONSUMER STAPLES | 13,595,355 | ||
ENERGY - 1.3% | |||
Energy Equipment & Services - 0.9% | |||
Baker Hughes Co. Class A | 205,178 | 6,071,217 | |
Schlumberger Ltd. | 124,775 | 6,030,376 | |
TechnipFMC PLC | 130,750 | 2,835,968 | |
14,937,561 | |||
Oil, Gas & Consumable Fuels - 0.4% | |||
Canadian Natural Resources Ltd. | 17,581 | 1,224,705 | |
Hess Corp. | 8,361 | 1,218,616 | |
Imperial Oil Ltd. | 14,297 | 894,596 | |
Shell PLC ADR | 41,172 | 2,586,837 | |
5,924,754 | |||
TOTAL ENERGY | 20,862,315 | ||
FINANCIALS - 10.9% | |||
Banks - 1.7% | |||
Citigroup, Inc. | 22,009 | 1,221,279 | |
JPMorgan Chase & Co. | 47,279 | 8,796,731 | |
PNC Financial Services Group, Inc. | 24,733 | 3,640,698 | |
U.S. Bancorp | 106,768 | 4,479,985 | |
UniCredit SpA | 9,509 | 318,500 | |
Wells Fargo & Co. | 164,020 | 9,117,872 | |
27,575,065 | |||
Capital Markets - 3.6% | |||
Ares Management Corp. | 77,388 | 10,263,970 | |
BlackRock, Inc. Class A | 9,000 | 7,302,060 | |
Blue Owl Capital, Inc. Class A | 197,660 | 3,549,974 | |
Carlyle Group LP | 7,119 | 326,406 | |
Cboe Global Markets, Inc. | 16,906 | 3,245,952 | |
CME Group, Inc. | 31,417 | 6,922,736 | |
Deutsche Borse AG | 5,020 | 1,050,924 | |
Goldman Sachs Group, Inc. | 15,695 | 6,106,140 | |
Intercontinental Exchange, Inc. | 32,721 | 4,529,241 | |
KKR & Co. LP | 61,488 | 6,041,811 | |
London Stock Exchange Group PLC | 6,675 | 749,691 | |
Moody's Corp. | 7,387 | 2,802,776 | |
Morgan Stanley | 34,217 | 2,944,031 | |
Raymond James Financial, Inc. | 7,150 | 860,288 | |
UBS Group AG | 32,864 | 934,981 | |
XP, Inc. Class A | 25,374 | 599,841 | |
58,230,822 | |||
Consumer Finance - 0.2% | |||
American Express Co. | 5,002 | 1,097,539 | |
Capital One Financial Corp. | 17,957 | 2,471,063 | |
3,568,602 | |||
Financial Services - 3.9% | |||
Apollo Global Management, Inc. | 120,611 | 13,484,310 | |
Berkshire Hathaway, Inc. Class B (a) | 9,817 | 4,019,080 | |
Block, Inc. Class A (a) | 30,064 | 2,389,186 | |
FleetCor Technologies, Inc. (a) | 676 | 188,787 | |
Global Payments, Inc. | 31,393 | 4,071,672 | |
MasterCard, Inc. Class A | 54,730 | 25,983,615 | |
Visa, Inc. Class A | 47,891 | 13,535,912 | |
63,672,562 | |||
Insurance - 1.5% | |||
Arthur J. Gallagher & Co. | 17,697 | 4,316,829 | |
Chubb Ltd. | 27,271 | 6,863,293 | |
Globe Life, Inc. | 9,886 | 1,254,830 | |
Hartford Financial Services Group, Inc. | 48,772 | 4,674,308 | |
Marsh & McLennan Companies, Inc. | 17,389 | 3,517,273 | |
The Travelers Companies, Inc. | 21,709 | 4,796,821 | |
25,423,354 | |||
TOTAL FINANCIALS | 178,470,405 | ||
HEALTH CARE - 7.8% | |||
Biotechnology - 1.3% | |||
Alnylam Pharmaceuticals, Inc. (a) | 1,547 | 233,736 | |
Gilead Sciences, Inc. | 15,154 | 1,092,603 | |
Karuna Therapeutics, Inc. (a) | 2,147 | 674,094 | |
Legend Biotech Corp. ADR (a) | 16,028 | 1,044,384 | |
Moderna, Inc. (a) | 57,621 | 5,314,961 | |
Nuvalent, Inc. Class A (a) | 6,245 | 525,329 | |
Regeneron Pharmaceuticals, Inc. (a) | 12,700 | 12,269,343 | |
21,154,450 | |||
Health Care Equipment & Supplies - 2.2% | |||
Baxter International, Inc. | 28,583 | 1,169,616 | |
Boston Scientific Corp. (a) | 354,767 | 23,489,123 | |
Edwards Lifesciences Corp. (a) | 34,672 | 2,942,613 | |
Glaukos Corp. (a) | 16,524 | 1,463,861 | |
Intuitive Surgical, Inc. (a) | 11,346 | 4,375,018 | |
Stryker Corp. | 6,109 | 2,132,469 | |
35,572,700 | |||
Health Care Providers & Services - 1.3% | |||
Cardinal Health, Inc. | 7,977 | 893,264 | |
Centene Corp. (a) | 61,908 | 4,855,444 | |
CVS Health Corp. | 56,572 | 4,207,260 | |
UnitedHealth Group, Inc. | 24,926 | 12,303,474 | |
22,259,442 | |||
Life Sciences Tools & Services - 0.6% | |||
Agilent Technologies, Inc. | 20,584 | 2,827,418 | |
Bruker Corp. | 5,531 | 478,653 | |
Danaher Corp. | 19,385 | 4,907,119 | |
Thermo Fisher Scientific, Inc. | 2,059 | 1,174,001 | |
9,387,191 | |||
Pharmaceuticals - 2.4% | |||
Eli Lilly & Co. | 35,749 | 26,943,306 | |
Merck & Co., Inc. | 72,436 | 9,210,237 | |
Novo Nordisk A/S Series B | 28,557 | 3,408,726 | |
39,562,269 | |||
TOTAL HEALTH CARE | 127,936,052 | ||
INDUSTRIALS - 9.3% | |||
Aerospace & Defense - 1.5% | |||
BWX Technologies, Inc. | 1,414 | 142,574 | |
General Dynamics Corp. | 15,814 | 4,321,176 | |
Howmet Aerospace, Inc. | 34,964 | 2,326,854 | |
The Boeing Co. (a) | 72,364 | 14,741,994 | |
TransDigm Group, Inc. | 2,013 | 2,370,791 | |
23,903,389 | |||
Air Freight & Logistics - 0.2% | |||
FedEx Corp. | 15,203 | 3,785,091 | |
Building Products - 1.2% | |||
Carrier Global Corp. | 22,523 | 1,251,828 | |
Trane Technologies PLC | 63,084 | 17,787,795 | |
19,039,623 | |||
Commercial Services & Supplies - 0.2% | |||
ACV Auctions, Inc. Class A (a) | 11,908 | 211,367 | |
Cintas Corp. | 5,147 | 3,235,456 | |
Republic Services, Inc. | 778 | 142,841 | |
3,589,664 | |||
Construction & Engineering - 0.3% | |||
Fluor Corp. (a) | 122,262 | 4,499,242 | |
Electrical Equipment - 2.6% | |||
Eaton Corp. PLC | 106,681 | 30,830,809 | |
Hubbell, Inc. Class B | 12,896 | 4,909,120 | |
Nextracker, Inc. Class A | 71,132 | 4,000,464 | |
Prysmian SpA | 49,490 | 2,463,159 | |
42,203,552 | |||
Ground Transportation - 0.7% | |||
Lyft, Inc. (a) | 120,044 | 1,906,299 | |
Uber Technologies, Inc. (a) | 123,797 | 9,841,862 | |
11,748,161 | |||
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 97,811 | 15,345,568 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 25,062 | 8,369,706 | |
PACCAR, Inc. | 11,197 | 1,241,635 | |
Parker Hannifin Corp. | 3,486 | 1,866,579 | |
Pentair PLC | 15,807 | 1,229,627 | |
12,707,547 | |||
Passenger Airlines - 0.0% | |||
Alaska Air Group, Inc. (a) | 12,354 | 461,916 | |
Delta Air Lines, Inc. | 4,300 | 181,761 | |
643,677 | |||
Professional Services - 0.1% | |||
Equifax, Inc. | 4,108 | 1,123,908 | |
Leidos Holdings, Inc. | 6,831 | 873,412 | |
1,997,320 | |||
Trading Companies & Distributors - 0.8% | |||
Applied Industrial Technologies, Inc. | 3,520 | 668,413 | |
Ferguson PLC | 4,922 | 1,040,757 | |
United Rentals, Inc. | 11,580 | 8,028,067 | |
W.W. Grainger, Inc. | 2,708 | 2,636,130 | |
12,373,367 | |||
TOTAL INDUSTRIALS | 151,836,201 | ||
INFORMATION TECHNOLOGY - 19.0% | |||
Electronic Equipment, Instruments & Components - 0.7% | |||
Amphenol Corp. Class A | 53,264 | 5,818,559 | |
Flex Ltd. (a) | 53,500 | 1,506,025 | |
Jabil, Inc. | 26,814 | 3,863,629 | |
11,188,213 | |||
IT Services - 0.8% | |||
Accenture PLC Class A | 17,991 | 6,742,667 | |
Shopify, Inc. Class A (a) | 89,374 | 6,825,492 | |
X Holdings Corp. Class A (c)(d) | 4,690 | 125,927 | |
13,694,086 | |||
Semiconductors & Semiconductor Equipment - 7.3% | |||
Advanced Micro Devices, Inc. (a) | 44,196 | 8,509,056 | |
Applied Materials, Inc. | 9,223 | 1,859,541 | |
ASML Holding NV (depository receipt) | 11,292 | 10,746,371 | |
GlobalFoundries, Inc. (a) | 15,858 | 866,957 | |
Lam Research Corp. | 2,055 | 1,928,104 | |
Marvell Technology, Inc. | 250,522 | 17,952,407 | |
Micron Technology, Inc. | 30,084 | 2,725,911 | |
Monolithic Power Systems, Inc. | 1,349 | 971,334 | |
NVIDIA Corp. | 78,593 | 62,176,494 | |
NXP Semiconductors NV | 10,121 | 2,527,517 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 38,166 | 4,910,819 | |
Universal Display Corp. | 26,614 | 4,642,014 | |
119,816,525 | |||
Software - 8.8% | |||
Adobe, Inc. (a) | 17,084 | 9,571,824 | |
Autodesk, Inc. (a) | 8,682 | 2,241,432 | |
Dynatrace, Inc. (a) | 42,429 | 2,102,357 | |
Fair Isaac Corp. (a) | 1,322 | 1,678,821 | |
HubSpot, Inc. (a) | 4,013 | 2,483,285 | |
Intuit, Inc. | 4,637 | 3,073,821 | |
Microsoft Corp. | 242,514 | 100,313,481 | |
Rapid7, Inc. (a) | 8,820 | 516,676 | |
Salesforce, Inc. | 28,540 | 8,813,723 | |
Synopsys, Inc. (a) | 9,980 | 5,725,825 | |
UiPath, Inc. Class A (a) | 145,272 | 3,450,210 | |
Workday, Inc. Class A (a) | 5,252 | 1,547,554 | |
Zoom Video Communications, Inc. Class A (a) | 20,673 | 1,462,201 | |
142,981,210 | |||
Technology Hardware, Storage & Peripherals - 1.4% | |||
Apple, Inc. | 119,948 | 21,680,601 | |
Samsung Electronics Co. Ltd. (a) | 4,798 | 263,718 | |
21,944,319 | |||
TOTAL INFORMATION TECHNOLOGY | 309,624,353 | ||
MATERIALS - 2.2% | |||
Chemicals - 1.5% | |||
Linde PLC | 39,435 | 17,699,217 | |
Sherwin-Williams Co. | 20,913 | 6,943,743 | |
24,642,960 | |||
Construction Materials - 0.3% | |||
Martin Marietta Materials, Inc. | 7,441 | 4,298,740 | |
Vulcan Materials Co. | 4,163 | 1,106,734 | |
5,405,474 | |||
Containers & Packaging - 0.1% | |||
Ball Corp. | 23,602 | 1,511,000 | |
Metals & Mining - 0.3% | |||
Freeport-McMoRan, Inc. | 92,985 | 3,515,763 | |
Gold Fields Ltd. sponsored ADR | 52,770 | 688,121 | |
4,203,884 | |||
TOTAL MATERIALS | 35,763,318 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
Prologis, Inc. | 3,963 | 528,149 | |
Public Storage | 10,161 | 2,884,403 | |
Ventas, Inc. | 6,365 | 269,176 | |
3,681,728 | |||
Real Estate Management & Development - 0.1% | |||
Zillow Group, Inc. Class C (a) | 18,183 | 1,020,975 | |
TOTAL REAL ESTATE | 4,702,703 | ||
UTILITIES - 0.1% | |||
Electric Utilities - 0.1% | |||
Constellation Energy Corp. | 12,655 | 2,131,735 | |
Southern Co. | 5,997 | 403,298 | |
2,535,033 | |||
TOTAL COMMON STOCKS (Cost $740,362,440) | 1,057,066,472 | ||
Fixed-Income Funds - 34.5% | |||
Shares | Value ($) | ||
Fidelity High Income Central Fund (e) | 666,725 | 69,572,733 | |
Fidelity Investment Grade Bond Central Fund (e) | 5,087,956 | 493,684,349 | |
TOTAL FIXED-INCOME FUNDS (Cost $602,024,320) | 563,257,082 | ||
Other - 0.0% | |||
Shares | Value ($) | ||
Other - 0.0% | |||
Fidelity Private Credit Central Fund LLC (c)(f) (Cost $434,651) | 43,209 | 442,463 | |
Money Market Funds - 0.7% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (g) | 10,554,021 | 10,556,132 | |
Fidelity Securities Lending Cash Central Fund 5.39% (g)(h) | 29,572 | 29,575 | |
TOTAL MONEY MARKET FUNDS (Cost $10,585,706) | 10,585,707 | ||
TOTAL INVESTMENT IN SECURITIES - 99.9% (Cost $1,353,407,117) | 1,631,351,724 |
NET OTHER ASSETS (LIABILITIES) - 0.1% | 1,229,514 |
NET ASSETS - 100.0% | 1,632,581,238 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | 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 $568,390 or 0.0% of net assets. |
(d) | Level 3 security |
(e) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(f) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. |
(g) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(h) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
Fidelity Private Credit Central Fund LLC | 6/06/22 - 2/02/24 | 434,651 |
X Holdings Corp. Class A | 10/25/22 | 469,000 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 11,334,206 | 149,149,296 | 149,927,370 | 318,052 | - | - | 10,556,132 | 0.0% |
Fidelity High Income Central Fund | 64,331,981 | 7,385,994 | 3,221,476 | 2,611,678 | (95,352) | 1,171,586 | 69,572,733 | 4.9% |
Fidelity Investment Grade Bond Central Fund | 429,042,334 | 73,765,601 | 11,982,156 | 9,727,825 | (1,317,379) | 4,175,949 | 493,684,349 | 1.2% |
Fidelity Private Credit Central Fund LLC | 207,892 | 227,905 | - | 21,906 | - | 6,666 | 442,463 | 0.1% |
Fidelity Securities Lending Cash Central Fund 5.39% | 3,701,050 | 6,204,667 | 9,876,142 | 767 | - | - | 29,575 | 0.0% |
Total | 508,617,463 | 236,733,463 | 175,007,144 | 12,680,228 | (1,412,731) | 5,354,201 | 574,285,252 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 98,094,787 | 97,068,645 | 1,026,142 | - |
Consumer Discretionary | 113,645,950 | 112,993,652 | 652,298 | - |
Consumer Staples | 13,595,355 | 13,508,419 | 86,936 | - |
Energy | 20,862,315 | 20,862,315 | - | - |
Financials | 178,470,405 | 176,351,290 | 2,119,115 | - |
Health Care | 127,936,052 | 124,527,326 | 3,408,726 | - |
Industrials | 151,836,201 | 151,836,201 | - | - |
Information Technology | 309,624,353 | 309,498,426 | - | 125,927 |
Materials | 35,763,318 | 35,763,318 | - | - |
Real Estate | 4,702,703 | 4,702,703 | - | - |
Utilities | 2,535,033 | 2,535,033 | - | - |
Fixed-Income Funds | 563,257,082 | 563,257,082 | - | - |
Other | 442,463 | - | 442,463 | - |
Money Market Funds | 10,585,707 | 10,585,707 | - | - |
Total Investments in Securities: | 1,631,351,724 | 1,623,490,117 | 7,735,680 | 125,927 |
Statement of Assets and Liabilities | ||||
February 29, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $27,378) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $740,362,440) | $ | 1,057,066,472 | ||
Fidelity Central Funds (cost $613,044,677) | 574,285,252 | |||
Total Investment in Securities (cost $1,353,407,117) | $ | 1,631,351,724 | ||
Cash | 50,822 | |||
Foreign currency held at value (cost $6,273) | 6,273 | |||
Receivable for investments sold | 10,357,206 | |||
Receivable for fund shares sold | 1,248,457 | |||
Dividends receivable | 733,464 | |||
Distributions receivable from Fidelity Central Funds | 46,165 | |||
Other receivables | 4,004 | |||
Total assets | 1,643,798,115 | |||
Liabilities | ||||
Payable for investments purchased | $ | 10,325,111 | ||
Payable for fund shares redeemed | 434,130 | |||
Accrued management fee | 428,061 | |||
Collateral on securities loaned | 29,575 | |||
Total Liabilities | 11,216,877 | |||
Commitments and contingent liabilities (see Commitments note) | ||||
Net Assets | $ | 1,632,581,238 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,374,743,043 | ||
Total accumulated earnings (loss) | 257,838,195 | |||
Net Assets | $ | 1,632,581,238 | ||
Net Asset Value, offering price and redemption price per share ($1,632,581,238 ÷ 108,621,224 shares) | $ | 15.03 |
Statement of Operations | ||||
Six months ended February 29, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 4,201,690 | ||
Income from Fidelity Central Funds (including $767 from security lending) | 12,679,912 | |||
Total Income | 16,881,602 | |||
Expenses | ||||
Management fee | $ | 2,308,455 | ||
Independent trustees' fees and expenses | 3,510 | |||
Total expenses before reductions | 2,311,965 | |||
Expense reductions | (917) | |||
Total expenses after reductions | 2,311,048 | |||
Net Investment income (loss) | 14,570,554 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 5,418,000 | |||
Fidelity Central Funds | (1,412,731) | |||
Foreign currency transactions | 4,942 | |||
Capital gain distributions from Fidelity Central Funds | 316 | |||
Total net realized gain (loss) | 4,010,527 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 147,334,942 | |||
Fidelity Central Funds | 5,354,201 | |||
Assets and liabilities in foreign currencies | (16) | |||
Total change in net unrealized appreciation (depreciation) | 152,689,127 | |||
Net gain (loss) | 156,699,654 | |||
Net increase (decrease) in net assets resulting from operations | $ | 171,270,208 |
Statement of Changes in Net Assets | ||||
Six months ended February 29, 2024 (Unaudited) | Year ended August 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 14,570,554 | $ | 18,720,505 |
Net realized gain (loss) | 4,010,527 | (21,720,120) | ||
Change in net unrealized appreciation (depreciation) | 152,689,127 | 113,486,902 | ||
Net increase (decrease) in net assets resulting from operations | 171,270,208 | 110,487,287 | ||
Distributions to shareholders | (10,633,384) | (17,241,436) | ||
Share transactions | ||||
Proceeds from sales of shares | 246,883,051 | 590,724,615 | ||
Reinvestment of distributions | 10,633,384 | 17,241,436 | ||
Cost of shares redeemed | (169,436,478) | (148,653,415) | ||
Net increase (decrease) in net assets resulting from share transactions | 88,079,957 | 459,312,636 | ||
Total increase (decrease) in net assets | 248,716,781 | 552,558,487 | ||
Net Assets | ||||
Beginning of period | 1,383,864,457 | 831,305,970 | ||
End of period | $ | 1,632,581,238 | $ | 1,383,864,457 |
Other Information | ||||
Shares | ||||
Sold | 17,744,114 | 45,291,468 | ||
Issued in reinvestment of distributions | 795,006 | 1,403,797 | ||
Redeemed | (12,338,663) | (11,910,163) | ||
Net increase (decrease) | 6,200,457 | 34,785,102 | ||
Fidelity® Puritan® K6 Fund |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 13.51 | $ | 12.29 | $ | 14.69 | $ | 12.36 | $ | 10.26 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .14 | .24 | .20 | .16 | .16 | .03 | ||||||
Net realized and unrealized gain (loss) | 1.48 | 1.22 | (1.94) | 2.36 | 2.07 | .24 | ||||||
Total from investment operations | 1.62 | 1.46 | (1.74) | 2.52 | 2.23 | .27 | ||||||
Distributions from net investment income | (.10) | (.24) | (.18) | (.14) | (.13) | (.01) | ||||||
Distributions from net realized gain | - | - | (.47) | (.05) | - | - | ||||||
Total distributions | (.10) | (.24) | (.66) D | (.19) | (.13) | (.01) | ||||||
Net asset value, end of period | $ | 15.03 | $ | 13.51 | $ | 12.29 | $ | 14.69 | $ | 12.36 | $ | 10.26 |
Total Return E,F | 12.12% | 12.05% | (12.35)% | 20.55% | 21.95% | 2.65% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .32% I | .32% | .32% | .32% | .32% | .31% I,J | ||||||
Expenses net of fee waivers, if any | .32% I | .32% | .32% | .32% | .32% | .31% I,J | ||||||
Expenses net of all reductions | .32% I | .32% | .32% | .31% | .32% | .31% I,J | ||||||
Net investment income (loss) | 2.02% I | 1.95% | 1.46% | 1.17% | 1.48% | 1.62% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,632,581 | $ | 1,383,864 | $ | 831,306 | $ | 650,542 | $ | 371,252 | $ | 83,185 |
Portfolio turnover rate K | 55% I,L | 58% | 72% | 65% | 67% | 99% M |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity High Income Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. | Delayed Delivery & When Issued Securities Loans & Direct Debt Instruments Restricted Securities | Less than .005% |
Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps | Less than .005% |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $319,831,687 |
Gross unrealized depreciation | (44,818,415) |
Net unrealized appreciation (depreciation) | $275,013,272 |
Tax cost | $1,356,338,452 |
Short-term | $(27,396,104) |
Long-term | - |
Total capital loss carryforward | $(27,396,104) |
Investment to be Acquired | Commitment Amount | |
Fidelity Puritan K6 Fund | Fidelity Private Credit Central Fund LLC | $1,789,000 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Puritan K6 Fund | 387,297,319 | 414,738,818 |
Shares | Total Proceeds ($) | |
Fidelity Puritan K6 Fund | 8,340,754 | 116,893,548 |
Shares | Total Proceeds ($) | |
Fidelity Puritan K6 Fund | 1,245,767 | 15,422,345 |
Amount | |
Fidelity Puritan K6 Fund | $3,238 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Puritan K6 Fund | 7,632,470 | 10,035,572 | (2,009,824) |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Puritan K6 Fund | $77 | $399 | $27,378 |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2023 to February 29, 2024). |
Annualized Expense Ratio- A | Beginning Account Value September 1, 2023 | Ending Account Value February 29, 2024 | Expenses Paid During Period- C September 1, 2023 to February 29, 2024 | |||||||
Fidelity® Puritan® K6 Fund | .32% | |||||||||
Actual | $ 1,000 | $ 1,121.20 | $ 1.69 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.27 | $ 1.61 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 5.3 | |
NVIDIA Corp. | 3.3 | |
Apple, Inc. | 3.2 | |
Amazon.com, Inc. | 2.9 | |
Meta Platforms, Inc. Class A | 2.0 | |
Alphabet, Inc. Class A | 1.5 | |
Eli Lilly & Co. | 1.1 | |
JPMorgan Chase & Co. | 1.1 | |
Exxon Mobil Corp. | 1.0 | |
UnitedHealth Group, Inc. | 0.9 | |
22.3 | ||
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
U.S. Treasury Obligations | 15.0 | |
Fannie Mae | 2.6 | |
Freddie Mac | 2.5 | |
Ginnie Mae | 1.8 | |
Uniform Mortgage Backed Securities | 1.4 | |
JPMorgan Chase & Co. | 0.7 | |
Morgan Stanley | 0.6 | |
Bank of America Corp. | 0.4 | |
BX Commercial Mortgage Trust | 0.4 | |
Citigroup, Inc. | 0.3 | |
25.7 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 18.1 | |
Financials | 13.4 | |
Health Care | 8.4 | |
Consumer Discretionary | 7.1 | |
Communication Services | 6.6 | |
Industrials | 5.9 | |
Consumer Staples | 4.2 | |
Energy | 3.3 | |
Real Estate | 2.4 | |
Utilities | 1.8 | |
Materials | 1.5 | |
Quality Diversification (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.2)% |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.2)% |
Written options - (0.1)% |
Futures and Swaps - 0.2% |
Common Stocks - 61.8% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 5.7% | |||
Diversified Telecommunication Services - 0.3% | |||
AT&T, Inc. | 7,608,191 | 128,807 | |
Cellnex Telecom SA (a) | 382,200 | 13,818 | |
Liberty Global Ltd. Class C (b) | 521,645 | 9,677 | |
152,302 | |||
Entertainment - 1.0% | |||
Capcom Co. Ltd. | 200,900 | 8,079 | |
Netflix, Inc. (c) | 218,703 | 131,860 | |
Roku, Inc. Class A (c) | 132,239 | 8,355 | |
Sea Ltd. ADR (c) | 983,927 | 47,740 | |
Spotify Technology SA (c) | 67,359 | 17,272 | |
Take-Two Interactive Software, Inc. (c) | 77,273 | 11,354 | |
The Walt Disney Co. | 1,569,842 | 175,163 | |
TKO Group Holdings, Inc. | 447,547 | 37,473 | |
Ubisoft Entertainment SA (c) | 772,600 | 17,703 | |
454,999 | |||
Interactive Media & Services - 4.0% | |||
Alphabet, Inc.: | |||
Class A (c) | 4,994,716 | 691,568 | |
Class C (c) | 881,305 | 123,189 | |
Epic Games, Inc. (c)(d)(e) | 12,272 | 8,419 | |
Match Group, Inc. (c) | 818,365 | 29,494 | |
Meta Platforms, Inc. Class A | 1,831,778 | 897,809 | |
Snap, Inc. Class A (c) | 2,905,679 | 32,021 | |
1,782,500 | |||
Media - 0.3% | |||
Altice U.S.A., Inc. Class A (c) | 3,982,896 | 11,829 | |
Charter Communications, Inc. Class A (c) | 82,034 | 24,112 | |
Comcast Corp. Class A | 899,488 | 38,543 | |
Liberty Broadband Corp.: | |||
Class A (c) | 680,713 | 40,945 | |
Class C (c) | 32,075 | 1,930 | |
Paramount Global Class B | 163,700 | 1,807 | |
119,166 | |||
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. | 268,786 | 43,893 | |
TOTAL COMMUNICATION SERVICES | 2,552,860 | ||
CONSUMER DISCRETIONARY - 6.7% | |||
Automobile Components - 0.1% | |||
Adient PLC (c) | 699,432 | 23,739 | |
Aptiv PLC (c) | 303,600 | 24,133 | |
47,872 | |||
Automobiles - 0.6% | |||
Tesla, Inc. (c) | 1,455,491 | 293,835 | |
Broadline Retail - 2.9% | |||
Amazon.com, Inc. (c) | 7,425,368 | 1,312,508 | |
Etsy, Inc. (c) | 104,385 | 7,483 | |
1,319,991 | |||
Distributors - 0.1% | |||
LKQ Corp. | 628,500 | 32,864 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (c) | 258,300 | 40,675 | |
Booking Holdings, Inc. | 27,782 | 96,371 | |
Caesars Entertainment, Inc. (c) | 623,971 | 27,124 | |
Churchill Downs, Inc. | 368,072 | 44,857 | |
Domino's Pizza, Inc. | 89,352 | 40,061 | |
Flutter Entertainment PLC (c) | 106,400 | 22,974 | |
Marriott International, Inc. Class A | 344,047 | 85,967 | |
McDonald's Corp. | 267,689 | 78,240 | |
Red Rock Resorts, Inc. | 185,273 | 10,744 | |
Sweetgreen, Inc. Class A (c) | 72,795 | 927 | |
Yum! Brands, Inc. | 643,927 | 89,132 | |
537,072 | |||
Household Durables - 0.1% | |||
D.R. Horton, Inc. | 30,287 | 4,526 | |
Mohawk Industries, Inc. (c) | 177,098 | 21,007 | |
25,533 | |||
Leisure Products - 0.0% | |||
Brunswick Corp. | 147,800 | 12,918 | |
Specialty Retail - 1.2% | |||
Burlington Stores, Inc. (c) | 91,870 | 18,843 | |
Cazoo Group Ltd. (c)(d) | 193 | 1 | |
Cazoo Group Ltd.: | |||
warrants (c) | 209 | 0 | |
warrants (c) | 229 | 0 | |
warrants (c) | 253 | 0 | |
Foot Locker, Inc. | 233,513 | 8,040 | |
Lowe's Companies, Inc. | 682,534 | 164,265 | |
The Home Depot, Inc. | 339,900 | 129,369 | |
TJX Companies, Inc. | 1,822,342 | 180,667 | |
Valvoline, Inc. (c) | 531,858 | 22,678 | |
523,863 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
Levi Strauss & Co. Class A | 713,000 | 12,955 | |
NIKE, Inc. Class B | 953,068 | 99,052 | |
PVH Corp. | 378,293 | 51,701 | |
Tapestry, Inc. | 1,048,908 | 49,855 | |
213,563 | |||
TOTAL CONSUMER DISCRETIONARY | 3,007,511 | ||
CONSUMER STAPLES - 3.7% | |||
Beverages - 1.1% | |||
Boston Beer Co., Inc. Class A (c) | 52,140 | 16,066 | |
Brown-Forman Corp. Class B (non-vtg.) | 238,368 | 14,357 | |
Celsius Holdings, Inc. (c) | 63,882 | 5,214 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 251,693 | 62,551 | |
Diageo PLC | 398,761 | 14,909 | |
Keurig Dr. Pepper, Inc. | 1,153,306 | 34,495 | |
Monster Beverage Corp. | 1,145,319 | 67,688 | |
PepsiCo, Inc. | 630,762 | 104,290 | |
The Coca-Cola Co. | 2,970,480 | 178,288 | |
497,858 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 372,440 | 23,099 | |
BJ's Wholesale Club Holdings, Inc. (c) | 78,572 | 5,739 | |
Costco Wholesale Corp. | 316,031 | 235,092 | |
Dollar Tree, Inc. (c) | 61,588 | 9,034 | |
Maplebear, Inc. (NASDAQ) | 15,289 | 498 | |
Sprouts Farmers Market LLC (c) | 105,000 | 6,556 | |
Target Corp. | 371,011 | 56,735 | |
U.S. Foods Holding Corp. (c) | 651,520 | 33,091 | |
Walmart, Inc. | 2,652,963 | 155,490 | |
525,334 | |||
Food Products - 0.4% | |||
Freshpet, Inc. (b)(c) | 105,620 | 11,938 | |
Lamb Weston Holdings, Inc. | 230,221 | 23,531 | |
McCormick & Co., Inc. (non-vtg.) | 332,974 | 22,929 | |
Mondelez International, Inc. | 1,089,564 | 79,614 | |
The Hershey Co. | 150,489 | 28,280 | |
The J.M. Smucker Co. | 157,700 | 18,951 | |
185,243 | |||
Household Products - 0.7% | |||
Procter & Gamble Co. | 1,825,082 | 290,079 | |
Personal Care Products - 0.2% | |||
elf Beauty, Inc. (c) | 106,355 | 22,178 | |
Estee Lauder Companies, Inc. Class A | 246,052 | 36,558 | |
Kenvue, Inc. | 2,190,968 | 41,628 | |
Olaplex Holdings, Inc. (c) | 2,786,500 | 5,183 | |
105,547 | |||
Tobacco - 0.1% | |||
Altria Group, Inc. | 1,517,200 | 62,069 | |
TOTAL CONSUMER STAPLES | 1,666,130 | ||
ENERGY - 2.3% | |||
Energy Equipment & Services - 0.2% | |||
Expro Group Holdings NV (c) | 1,013,071 | 18,124 | |
Schlumberger Ltd. | 506,838 | 24,495 | |
Weatherford International PLC (c) | 320,600 | 32,897 | |
75,516 | |||
Oil, Gas & Consumable Fuels - 2.1% | |||
Africa Oil Corp. | 13,502,322 | 20,793 | |
Athabasca Oil Corp. (c) | 8,688,738 | 31,499 | |
Canadian Natural Resources Ltd. | 167,200 | 11,652 | |
Eco Atlantic Oil & Gas Ltd. (c) | 4,815,179 | 585 | |
Exxon Mobil Corp. | 4,348,841 | 454,541 | |
Galp Energia SGPS SA Class B | 1,550,100 | 24,410 | |
Hess Corp. | 137,368 | 20,021 | |
Imperial Oil Ltd. | 1,462,158 | 91,491 | |
Kosmos Energy Ltd. (c) | 3,479,718 | 21,365 | |
MEG Energy Corp. (c) | 3,565,214 | 76,314 | |
Phillips 66 Co. | 487,404 | 69,460 | |
Shell PLC ADR | 1,136,187 | 71,387 | |
Valero Energy Corp. | 486,452 | 68,813 | |
962,331 | |||
TOTAL ENERGY | 1,037,847 | ||
FINANCIALS - 8.3% | |||
Banks - 2.8% | |||
AIB Group PLC | 3,042,037 | 14,092 | |
Bank of America Corp. | 3,582,765 | 123,677 | |
Citigroup, Inc. | 2,172,187 | 120,535 | |
DNB Bank ASA | 1,020,740 | 20,439 | |
Eurobank Ergasias Services and Holdings SA (c) | 16,592,568 | 34,279 | |
HDFC Bank Ltd. | 707,698 | 11,955 | |
JPMorgan Chase & Co. | 2,604,900 | 484,668 | |
KeyCorp | 3,449,964 | 49,231 | |
M&T Bank Corp. | 333,784 | 46,643 | |
Pathward Financial, Inc. | 362,700 | 18,440 | |
Piraeus Financial Holdings SA (c) | 5,098,290 | 22,427 | |
PNC Financial Services Group, Inc. | 547,323 | 80,566 | |
Starling Bank Ltd. Series D (c)(d)(e) | 5,092,112 | 20,183 | |
Wells Fargo & Co. | 3,669,467 | 203,986 | |
1,251,121 | |||
Capital Markets - 1.6% | |||
Bank of New York Mellon Corp. | 1,283,749 | 72,005 | |
BlackRock, Inc. Class A | 119,548 | 96,994 | |
Brookfield Corp. Class A | 434,398 | 17,928 | |
Cboe Global Markets, Inc. | 169,239 | 32,494 | |
CME Group, Inc. | 335,947 | 74,026 | |
Interactive Brokers Group, Inc. | 239,049 | 25,989 | |
London Stock Exchange Group PLC | 166,599 | 18,711 | |
LPL Financial | 168,954 | 45,261 | |
MarketAxess Holdings, Inc. | 185,792 | 39,650 | |
Moody's Corp. | 181,173 | 68,741 | |
Morgan Stanley | 1,062,266 | 91,397 | |
StepStone Group, Inc. Class A | 535,510 | 18,598 | |
Tradeweb Markets, Inc. Class A | 186,611 | 19,747 | |
UBS Group AG | 1,955,469 | 55,633 | |
Virtu Financial, Inc. Class A | 613,539 | 11,074 | |
688,248 | |||
Consumer Finance - 0.2% | |||
Discover Financial Services | 423,353 | 51,099 | |
OneMain Holdings, Inc. | 471,386 | 22,264 | |
Shriram Transport Finance Co. Ltd. | 678,697 | 19,966 | |
93,329 | |||
Financial Services - 2.2% | |||
Apollo Global Management, Inc. | 1,052,860 | 117,710 | |
Berkshire Hathaway, Inc. Class A (c) | 79 | 48,708 | |
Block, Inc. Class A (c) | 1,980,828 | 157,416 | |
Corebridge Financial, Inc. | 440,378 | 10,935 | |
Fiserv, Inc. (c) | 555,301 | 82,890 | |
FleetCor Technologies, Inc. (c) | 119,327 | 33,324 | |
Global Payments, Inc. | 489,841 | 63,532 | |
Jumo World Holding Ltd. (d)(e) | 1,165,143 | 1,934 | |
Jumo World Ltd. (c)(e) | 1,163 | 0 | |
MasterCard, Inc. Class A | 143,577 | 68,165 | |
UWM Holdings Corp. Class A (b) | 2,130,054 | 13,590 | |
Visa, Inc. Class A | 1,300,015 | 367,436 | |
Voya Financial, Inc. | 273,676 | 18,708 | |
984,348 | |||
Insurance - 1.5% | |||
Arthur J. Gallagher & Co. | 361,993 | 88,301 | |
Chubb Ltd. | 473,074 | 119,059 | |
Direct Line Insurance Group PLC (c) | 9,870,362 | 25,168 | |
Everest Re Group Ltd. | 119,486 | 44,076 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 51,661 | 55,142 | |
Globe Life, Inc. | 189,599 | 24,066 | |
Hartford Financial Services Group, Inc. | 786,000 | 75,330 | |
Marsh & McLennan Companies, Inc. | 456,449 | 92,326 | |
Progressive Corp. | 499,431 | 94,672 | |
Prudential PLC | 850,306 | 8,378 | |
Unum Group | 897,807 | 44,397 | |
670,915 | |||
TOTAL FINANCIALS | 3,687,961 | ||
HEALTH CARE - 7.7% | |||
Biotechnology - 1.0% | |||
Cytokinetics, Inc. (c) | 74,500 | 5,382 | |
Gilead Sciences, Inc. | 1,929,572 | 139,122 | |
Moderna, Inc. (c) | 721,200 | 66,523 | |
Regeneron Pharmaceuticals, Inc. (c) | 206,872 | 199,857 | |
Vertex Pharmaceuticals, Inc. (c) | 64,324 | 27,064 | |
437,948 | |||
Health Care Equipment & Supplies - 1.9% | |||
Abbott Laboratories | 317,967 | 37,724 | |
Boston Scientific Corp. (c) | 5,138,280 | 340,206 | |
Intuitive Surgical, Inc. (c) | 395,498 | 152,504 | |
Penumbra, Inc. (c) | 162,324 | 38,133 | |
Shockwave Medical, Inc. (c) | 139,035 | 36,270 | |
Stryker Corp. | 743,129 | 259,404 | |
864,241 | |||
Health Care Providers & Services - 1.8% | |||
Acadia Healthcare Co., Inc. (c) | 404,200 | 33,730 | |
Cencora, Inc. | 796,858 | 187,740 | |
CVS Health Corp. | 1,106,658 | 82,302 | |
Surgery Partners, Inc. (c) | 2,275,456 | 70,607 | |
UnitedHealth Group, Inc. | 844,549 | 416,869 | |
791,248 | |||
Life Sciences Tools & Services - 0.4% | |||
10X Genomics, Inc. (c) | 224,097 | 10,452 | |
Danaher Corp. | 424,170 | 107,374 | |
Sartorius Stedim Biotech | 38,200 | 10,499 | |
Thermo Fisher Scientific, Inc. | 98,640 | 56,243 | |
184,568 | |||
Pharmaceuticals - 2.6% | |||
AstraZeneca PLC sponsored ADR | 1,792,007 | 114,975 | |
Eli Lilly & Co. | 650,201 | 490,043 | |
Indivior PLC (c) | 1,797,132 | 38,905 | |
Merck & Co., Inc. | 2,839,075 | 360,988 | |
Royalty Pharma PLC | 2,541,900 | 77,121 | |
UCB SA | 842,836 | 97,015 | |
1,179,047 | |||
TOTAL HEALTH CARE | 3,457,052 | ||
INDUSTRIALS - 5.6% | |||
Aerospace & Defense - 1.1% | |||
Howmet Aerospace, Inc. | 1,013,214 | 67,429 | |
Lockheed Martin Corp. | 296,575 | 127,005 | |
Northrop Grumman Corp. | 106,280 | 48,997 | |
RTX Corp. | 359,811 | 32,264 | |
Space Exploration Technologies Corp. Class A (c)(d)(e) | 117,000 | 11,349 | |
The Boeing Co. (c) | 640,388 | 130,460 | |
TransDigm Group, Inc. | 69,784 | 82,187 | |
499,691 | |||
Air Freight & Logistics - 0.1% | |||
FedEx Corp. | 177,471 | 44,185 | |
Building Products - 0.5% | |||
Trane Technologies PLC | 749,211 | 211,255 | |
Construction & Engineering - 0.1% | |||
Quanta Services, Inc. | 217,600 | 52,553 | |
Electrical Equipment - 0.6% | |||
AMETEK, Inc. | 977,621 | 176,148 | |
Eaton Corp. PLC | 419,280 | 121,172 | |
297,320 | |||
Ground Transportation - 0.9% | |||
CSX Corp. | 2,502,709 | 94,953 | |
Old Dominion Freight Lines, Inc. | 278,568 | 123,261 | |
Uber Technologies, Inc. (c) | 967,729 | 76,934 | |
Union Pacific Corp. | 382,706 | 97,089 | |
392,237 | |||
Industrial Conglomerates - 0.5% | |||
General Electric Co. | 1,344,702 | 210,970 | |
Machinery - 1.7% | |||
Caterpillar, Inc. | 358,909 | 119,861 | |
Deere & Co. | 95,398 | 34,825 | |
Dover Corp. | 758,003 | 125,359 | |
Fortive Corp. | 1,281,227 | 109,071 | |
Ingersoll Rand, Inc. | 1,683,240 | 153,730 | |
Parker Hannifin Corp. | 391,983 | 209,887 | |
752,733 | |||
Passenger Airlines - 0.0% | |||
Delta Air Lines, Inc. | 464,958 | 19,654 | |
Professional Services - 0.1% | |||
Dun & Bradstreet Holdings, Inc. | 2,736,357 | 28,841 | |
TOTAL INDUSTRIALS | 2,509,439 | ||
INFORMATION TECHNOLOGY - 17.7% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Amphenol Corp. Class A | 492,653 | 53,817 | |
IT Services - 0.7% | |||
Capgemini SA | 313,713 | 76,309 | |
EPAM Systems, Inc. (c) | 176,944 | 53,862 | |
Infosys Ltd. sponsored ADR | 789,872 | 15,766 | |
MongoDB, Inc. Class A (c) | 208,416 | 93,283 | |
Snowflake, Inc. (c) | 212,159 | 39,945 | |
Twilio, Inc. Class A (c) | 548,607 | 32,691 | |
311,856 | |||
Semiconductors & Semiconductor Equipment - 5.5% | |||
Advanced Micro Devices, Inc. (c) | 738,179 | 142,122 | |
ASML Holding NV (Netherlands) | 110,739 | 105,092 | |
Lattice Semiconductor Corp. (c) | 532,700 | 40,810 | |
Marvell Technology, Inc. | 1,190,881 | 85,339 | |
Micron Technology, Inc. | 2,137,772 | 193,704 | |
NVIDIA Corp. | 1,854,579 | 1,467,195 | |
NXP Semiconductors NV | 411,408 | 102,741 | |
ON Semiconductor Corp. (c) | 1,029,600 | 81,256 | |
Renesas Electronics Corp. | 2,721,278 | 44,964 | |
SolarEdge Technologies, Inc. (b)(c) | 779,263 | 52,343 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 5,818,000 | 127,332 | |
Teradyne, Inc. | 299,700 | 31,046 | |
2,473,944 | |||
Software - 8.1% | |||
Adobe, Inc. (c) | 498,395 | 279,241 | |
Autodesk, Inc. (c) | 374,436 | 96,668 | |
CCC Intelligent Solutions Holdings, Inc. (c)(d) | 253,848 | 2,973 | |
Elastic NV (c) | 314,981 | 42,148 | |
Five9, Inc. (c) | 518,825 | 31,648 | |
HubSpot, Inc. (c) | 144,203 | 89,234 | |
Intuit, Inc. | 278,573 | 184,663 | |
Microsoft Corp. | 5,705,610 | 2,360,070 | |
Salesforce, Inc. | 924,079 | 285,374 | |
Stripe, Inc. Class B (c)(d)(e) | 110,500 | 2,806 | |
Synopsys, Inc. (c) | 206,991 | 118,757 | |
Tenable Holdings, Inc. (c) | 585,642 | 28,205 | |
Workday, Inc. Class A (c) | 244,722 | 72,110 | |
3,593,897 | |||
Technology Hardware, Storage & Peripherals - 3.3% | |||
Apple, Inc. | 7,787,462 | 1,407,584 | |
Samsung Electronics Co. Ltd. (c) | 1,109,840 | 61,001 | |
1,468,585 | |||
TOTAL INFORMATION TECHNOLOGY | 7,902,099 | ||
MATERIALS - 1.4% | |||
Chemicals - 1.1% | |||
Air Products & Chemicals, Inc. | 114,550 | 26,809 | |
Cabot Corp. | 157,809 | 13,406 | |
Celanese Corp. Class A | 110,457 | 16,786 | |
Chemtrade Logistics Income Fund | 169,033 | 1,006 | |
Corteva, Inc. | 499,221 | 26,718 | |
Dow, Inc. | 764,100 | 42,698 | |
DuPont de Nemours, Inc. | 182,512 | 12,628 | |
Ecolab, Inc. | 195,000 | 43,844 | |
Element Solutions, Inc. | 296,100 | 6,958 | |
Koppers Holdings, Inc. | 103,500 | 5,860 | |
Linde PLC | 367,587 | 164,980 | |
LyondellBasell Industries NV Class A | 229,303 | 22,995 | |
Olin Corp. | 186,325 | 10,024 | |
Sherwin-Williams Co. | 89,300 | 29,650 | |
The Chemours Co. LLC | 646,042 | 12,708 | |
The Mosaic Co. | 333,000 | 10,376 | |
Tronox Holdings PLC | 977,771 | 14,373 | |
Westlake Corp. | 71,506 | 9,919 | |
471,738 | |||
Construction Materials - 0.1% | |||
Martin Marietta Materials, Inc. | 25,712 | 14,854 | |
Vulcan Materials Co. | 54,039 | 14,366 | |
29,220 | |||
Containers & Packaging - 0.0% | |||
Aptargroup, Inc. | 68,621 | 9,639 | |
Crown Holdings, Inc. | 35,973 | 2,756 | |
Greif, Inc. Class A | 143,621 | 9,258 | |
21,653 | |||
Metals & Mining - 0.2% | |||
First Quantum Minerals Ltd. | 1,037,076 | 9,819 | |
Franco-Nevada Corp. | 68,336 | 7,155 | |
Freeport-McMoRan, Inc. | 1,005,833 | 38,031 | |
Ivanhoe Mines Ltd. (c) | 941,539 | 10,011 | |
Newmont Corp. | 113,600 | 3,550 | |
Nucor Corp. | 189,200 | 36,383 | |
Teck Resources Ltd. Class B (b) | 165,300 | 6,351 | |
111,300 | |||
TOTAL MATERIALS | 633,911 | ||
REAL ESTATE - 1.4% | |||
Equity Real Estate Investment Trusts (REITs) - 1.4% | |||
American Tower Corp. | 337,709 | 67,157 | |
COPT Defense Properties (SBI) | 413,617 | 10,022 | |
Crown Castle, Inc. | 357,593 | 39,314 | |
CubeSmart | 405,675 | 17,691 | |
Digital Realty Trust, Inc. | 277,808 | 40,785 | |
Equinix, Inc. | 90,296 | 80,257 | |
Equity Lifestyle Properties, Inc. | 526,646 | 35,454 | |
Essex Property Trust, Inc. | 97,425 | 22,544 | |
Extra Space Storage, Inc. | 11,022 | 1,554 | |
Invitation Homes, Inc. | 1,098,525 | 37,427 | |
Mid-America Apartment Communities, Inc. | 148,433 | 18,655 | |
Omega Healthcare Investors, Inc. | 468,701 | 14,586 | |
Prologis, Inc. | 691,673 | 92,179 | |
Simon Property Group, Inc. | 368,947 | 54,656 | |
Sun Communities, Inc. | 145,100 | 19,409 | |
Ventas, Inc. | 534,337 | 22,597 | |
Welltower, Inc. | 557,873 | 51,414 | |
625,701 | |||
UTILITIES - 1.3% | |||
Electric Utilities - 1.1% | |||
American Electric Power Co., Inc. | 213,700 | 18,205 | |
Constellation Energy Corp. | 294,605 | 49,626 | |
Edison International | 720,447 | 49,005 | |
Entergy Corp. | 333,858 | 33,910 | |
Evergy, Inc. | 338,000 | 16,745 | |
Eversource Energy | 606,644 | 35,610 | |
Exelon Corp. | 324,400 | 11,626 | |
FirstEnergy Corp. | 849,419 | 31,097 | |
NextEra Energy, Inc. | 1,638,762 | 90,443 | |
NRG Energy, Inc. | 258,319 | 14,290 | |
PG&E Corp. | 3,874,489 | 64,665 | |
PPL Corp. | 1,171,416 | 30,890 | |
Southern Co. | 498,437 | 33,520 | |
Xcel Energy, Inc. | 113,500 | 5,980 | |
485,612 | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
The AES Corp. | 1,158,085 | 17,603 | |
Multi-Utilities - 0.2% | |||
NiSource, Inc. | 967,275 | 25,207 | |
Sempra | 971,834 | 68,611 | |
93,818 | |||
TOTAL UTILITIES | 597,033 | ||
TOTAL COMMON STOCKS (Cost $15,208,715) | 27,677,544 | ||
Preferred Stocks - 0.3% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 0.2% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (c)(d)(e) | 143,672 | 31,770 | |
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Circle Internet Financial Ltd. Series F (c)(d)(e) | 239,407 | 6,359 | |
INDUSTRIALS - 0.0% | |||
Aerospace & Defense - 0.0% | |||
ABL Space Systems: | |||
Series B(c)(d)(e) | 120,349 | 3,519 | |
Series B2(c)(d)(e) | 54,288 | 1,727 | |
5,246 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series A (c)(d)(e) | 49,193 | 5,595 | |
TOTAL INDUSTRIALS | 10,841 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Communications Equipment - 0.0% | |||
Astranis Space Technologies Corp. Series C (c)(d)(e) | 412,038 | 4,541 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
Astera Labs, Inc. Series C (c)(d)(e) | 473,600 | 10,050 | |
Xsight Labs Ltd. Series D (c)(d)(e) | 450,873 | 2,313 | |
12,363 | |||
Software - 0.1% | |||
Algolia, Inc. Series D (c)(d)(e) | 189,206 | 3,179 | |
Bolt Technology OU Series E (c)(d)(e) | 41,382 | 4,838 | |
Databricks, Inc.: | |||
Series G(c)(d)(e) | 30,576 | 2,509 | |
Series H(c)(d)(e) | 125,490 | 10,296 | |
Skyryse, Inc. Series B (c)(d)(e) | 332,947 | 6,762 | |
Stripe, Inc. Series H (c)(d)(e) | 135,605 | 3,443 | |
31,027 | |||
TOTAL INFORMATION TECHNOLOGY | 47,931 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS | 96,901 | ||
Nonconvertible Preferred Stocks - 0.1% | |||
FINANCIALS - 0.1% | |||
Financial Services - 0.1% | |||
Circle Internet Financial Ltd. Series E (c)(d)(e) | 467,381 | 12,414 | |
INDUSTRIALS - 0.0% | |||
Professional Services - 0.0% | |||
Checkr, Inc. Series E (c)(e) | 588,051 | 5,240 | |
INFORMATION TECHNOLOGY - 0.0% | |||
IT Services - 0.0% | |||
Gupshup, Inc. (c)(d)(e) | 403,701 | 4,530 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 22,184 | ||
TOTAL PREFERRED STOCKS (Cost $122,742) | 119,085 | ||
Nonconvertible Bonds - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (d)(e) (Cost $10,087) | 10,087 | 10,100 | |
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (f) (000s) | Value ($) (000s) | ||
U.S. Treasury Bills, yield at date of purchase 5.28% to 5.31% 4/25/24 to 5/30/24 (g) (Cost $20,935) | 21,200 | 20,935 | |
Fixed-Income Funds - 36.5% | |||
Shares | Value ($) (000s) | ||
Fidelity Investment Grade Bond Central Fund (h) (Cost $18,381,863) | 168,251,745 | 16,325,467 | |
Money Market Funds - 1.4% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.39% (i) | 572,649,875 | 572,764 | |
Fidelity Securities Lending Cash Central Fund 5.39% (i)(j) | 55,043,755 | 55,049 | |
TOTAL MONEY MARKET FUNDS (Cost $627,810) | 627,813 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $34,372,152) | 44,780,944 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 11,510 |
NET ASSETS - 100.0% | 44,792,454 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) (000s) | Value ($) (000s) | Unrealized Appreciation/ (Depreciation) ($) (000s) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 1,633 | Mar 2024 | 416,721 | 19,557 | 19,557 |
The notional amount of futures purchased as a percentage of Net Assets is 0.9% |
(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 $13,818,000 or 0.0% of net assets. |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Non-income producing |
(d) | 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 $171,610,000 or 0.4% of net assets. |
(e) | Level 3 security |
(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 $20,935,000. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
ABL Space Systems Series B | 3/24/21 | 5,420 |
ABL Space Systems Series B2 | 10/22/21 | 3,691 |
Algolia, Inc. Series D | 7/23/21 | 5,533 |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 10,087 |
Astera Labs, Inc. Series C | 8/24/21 | 3,184 |
Astranis Space Technologies Corp. Series C | 3/19/21 | 9,032 |
Beta Technologies, Inc. Series A | 4/09/21 | 3,604 |
Bolt Technology OU Series E | 1/03/22 | 10,751 |
ByteDance Ltd. Series E1 | 11/18/20 | 15,743 |
Cazoo Group Ltd. | 3/28/21 | 3,875 |
CCC Intelligent Solutions Holdings, Inc. | 2/02/21 | 2,538 |
Circle Internet Financial Ltd. Series E | 5/11/21 | 7,586 |
Circle Internet Financial Ltd. Series F | 5/09/22 | 10,089 |
Databricks, Inc. Series G | 2/01/21 | 1,808 |
Databricks, Inc. Series H | 8/31/21 | 9,222 |
Epic Games, Inc. | 3/29/21 | 10,861 |
Gupshup, Inc. | 6/08/21 | 9,231 |
Jumo World Holding Ltd. | 9/06/23 | 1,165 |
Skyryse, Inc. Series B | 10/21/21 | 8,217 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 4,914 |
Starling Bank Ltd. Series D | 6/18/21 | 9,104 |
Stripe, Inc. Class B | 5/18/21 | 4,434 |
Stripe, Inc. Series H | 3/15/21 - 5/25/23 | 5,441 |
Xsight Labs Ltd. Series D | 2/16/21 | 3,605 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 564,596 | 2,558,708 | 2,550,540 | 12,417 | - | - | 572,764 | 1.1% |
Fidelity Investment Grade Bond Central Fund | 15,060,318 | 1,166,623 | 9,945 | 314,792 | (215) | 108,686 | 16,325,467 | 41.0% |
Fidelity Securities Lending Cash Central Fund 5.39% | 36,233 | 371,002 | 352,186 | 138 | - | - | 55,049 | 0.2% |
Total | 15,661,147 | 4,096,333 | 2,912,671 | 327,347 | (215) | 108,686 | 16,953,280 | |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 2,584,630 | 2,530,623 | 13,818 | 40,189 |
Consumer Discretionary | 3,007,511 | 3,007,511 | - | - |
Consumer Staples | 1,666,130 | 1,666,130 | - | - |
Energy | 1,037,847 | 1,037,847 | - | - |
Financials | 3,706,734 | 3,606,361 | 59,483 | 40,890 |
Health Care | 3,457,052 | 3,457,052 | - | - |
Industrials | 2,525,520 | 2,498,090 | - | 27,430 |
Information Technology | 7,954,560 | 7,545,596 | 353,697 | 55,267 |
Materials | 633,911 | 633,911 | - | - |
Real Estate | 625,701 | 625,701 | - | - |
Utilities | 597,033 | 597,033 | - | - |
Corporate Bonds | 10,100 | - | - | 10,100 |
U.S. Government and Government Agency Obligations | 20,935 | - | 20,935 | - |
Fixed-Income Funds | 16,325,467 | 16,325,467 | - | - |
Money Market Funds | 627,813 | 627,813 | - | - |
Total Investments in Securities: | 44,780,944 | 44,159,135 | 447,933 | 173,876 |
Net Unrealized Depreciation on Unfunded Commitments | (204) | - | (204) | - |
Total | (204) | - | (204) | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 19,557 | 19,557 | - | - |
Total Assets | 19,557 | 19,557 | - | - |
Total Derivative Instruments: | 19,557 | 19,557 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
(Amounts in thousands) | Asset ($) | Liability ($) |
Equity Risk | ||
Futures Contracts (a) | 19,557 | 0 |
Total Equity Risk | 19,557 | 0 |
Total Value of Derivatives | 19,557 | 0 |
Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | February 29, 2024 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $54,633) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $15,362,479) | $ | 27,827,664 | ||
Fidelity Central Funds (cost $19,009,673) | 16,953,280 | |||
Total Investment in Securities (cost $34,372,152) | $ | 44,780,944 | ||
Foreign currency held at value (cost $1) | 1 | |||
Receivable for investments sold | 98,060 | |||
Receivable for fund shares sold | 32,140 | |||
Dividends receivable | 36,318 | |||
Interest receivable | 192 | |||
Distributions receivable from Fidelity Central Funds | 2,002 | |||
Receivable for daily variation margin on futures contracts | 1,858 | |||
Prepaid expenses | 28 | |||
Other receivables | 1,291 | |||
Total assets | 44,952,834 | |||
Liabilities | ||||
Payable to custodian bank | $ | 38 | ||
Payable for investments purchased | 66,629 | |||
Unrealized depreciation on unfunded commitments | 204 | |||
Payable for fund shares redeemed | 18,775 | |||
Accrued management fee | 13,693 | |||
Other affiliated payables | 4,067 | |||
Other payables and accrued expenses | 1,925 | |||
Collateral on securities loaned | 55,049 | |||
Total Liabilities | 160,380 | |||
Net Assets | $ | 44,792,454 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 33,700,544 | ||
Total accumulated earnings (loss) | 11,091,910 | |||
Net Assets | $ | 44,792,454 | ||
Net Asset Value and Maximum Offering Price | ||||
Balanced : | ||||
Net Asset Value, offering price and redemption price per share ($36,313,836 ÷ 1,289,113 shares) | $ | 28.17 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($8,478,618 ÷ 300,943 shares) | $ | 28.17 |
Statement of Operations | ||||
Amounts in thousands | Six months ended February 29, 2024 (Unaudited) | |||
Investment Income | ||||
Dividends | $ | 164,045 | ||
Interest | 589 | |||
Income from Fidelity Central Funds (including $138 from security lending) | 327,347 | |||
Total Income | 491,981 | |||
Expenses | ||||
Management fee | $ | 77,355 | ||
Transfer agent fees | 21,746 | |||
Accounting fees | 1,237 | |||
Custodian fees and expenses | 207 | |||
Independent trustees' fees and expenses | 106 | |||
Registration fees | 236 | |||
Audit | 112 | |||
Legal | 33 | |||
Interest | 48 | |||
Miscellaneous | 73 | |||
Total expenses before reductions | 101,153 | |||
Expense reductions | (1,779) | |||
Total expenses after reductions | 99,374 | |||
Net Investment income (loss) | 392,607 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $21) | 831,714 | |||
Redemptions in-kind | 7,687 | |||
Fidelity Central Funds | (215) | |||
Foreign currency transactions | 114 | |||
Futures contracts | 9,440 | |||
Total net realized gain (loss) | 848,740 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $822) | 2,907,840 | |||
Fidelity Central Funds | 108,686 | |||
Unfunded commitments | (204) | |||
Assets and liabilities in foreign currencies | (12) | |||
Futures contracts | 9,436 | |||
Total change in net unrealized appreciation (depreciation) | 3,025,746 | |||
Net gain (loss) | 3,874,486 | |||
Net increase (decrease) in net assets resulting from operations | $ | 4,267,093 |
Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended February 29, 2024 (Unaudited) | Year ended August 31, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 392,607 | $ | 660,824 |
Net realized gain (loss) | 848,740 | 991,942 | ||
Change in net unrealized appreciation (depreciation) | 3,025,746 | 2,581,420 | ||
Net increase (decrease) in net assets resulting from operations | 4,267,093 | 4,234,186 | ||
Distributions to shareholders | (1,062,484) | (2,942,116) | ||
Share transactions - net increase (decrease) | 532,912 | 423,615 | ||
Total increase (decrease) in net assets | 3,737,521 | 1,715,685 | ||
Net Assets | ||||
Beginning of period | 41,054,933 | 39,339,248 | ||
End of period | $ | 44,792,454 | $ | 41,054,933 |
Fidelity® Balanced Fund |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.16 | $ | 25.49 | $ | 32.24 | $ | 27.37 | $ | 23.54 | $ | 25.33 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .25 | .42 | .30 | .29 | .38 | .42 | ||||||
Net realized and unrealized gain (loss) | 2.43 | 2.17 | (4.09) | 6.17 | 4.49 | .08 | ||||||
Total from investment operations | 2.68 | 2.59 | (3.79) | 6.46 | 4.87 | .50 | ||||||
Distributions from net investment income | (.25) | (.41) | (.29) | (.29) | (.41) | (.40) | ||||||
Distributions from net realized gain | (.42) | (1.51) | (2.67) | (1.31) | (.62) | (1.89) | ||||||
Total distributions | (.67) | (1.92) | (2.96) | (1.59) C | (1.04) C | (2.29) | ||||||
Net asset value, end of period | $ | 28.17 | $ | 26.16 | $ | 25.49 | $ | 32.24 | $ | 27.37 | $ | 23.54 |
Total Return D,E | 10.53% | 11.60% | (12.80)% | 24.83% | 21.44% | 2.61% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .50% H | .51% | .50% | .51% | .52% | .53% | ||||||
Expenses net of fee waivers, if any | .49% H | .50% | .50% | .50% | .52% | .53% | ||||||
Expenses net of all reductions | .49% H | .50% | .50% | .50% | .51% | .53% | ||||||
Net investment income (loss) | 1.88% H | 1.70% | 1.05% | .98% | 1.57% | 1.82% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 36,314 | $ | 33,113 | $ | 31,647 | $ | 37,819 | $ | 28,805 | $ | 24,969 |
Portfolio turnover rate I | 26% H,J | 29% J | 36% J | 40% J | 95% J | 60% |
Fidelity® Balanced Fund Class K |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 26.17 | $ | 25.49 | $ | 32.24 | $ | 27.37 | $ | 23.55 | $ | 25.33 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .26 | .43 | .32 | .31 | .40 | .44 | ||||||
Net realized and unrealized gain (loss) | 2.43 | 2.19 | (4.09) | 6.17 | 4.48 | .09 | ||||||
Total from investment operations | 2.69 | 2.62 | (3.77) | 6.48 | 4.88 | .53 | ||||||
Distributions from net investment income | (.26) | (.42) | (.31) | (.31) | (.43) | (.42) | ||||||
Distributions from net realized gain | (.42) | (1.51) | (2.67) | (1.31) | (.62) | (1.89) | ||||||
Total distributions | (.69) C | (1.94) C | (2.98) | (1.61) C | (1.06) C | (2.31) | ||||||
Net asset value, end of period | $ | 28.17 | $ | 26.17 | $ | 25.49 | $ | 32.24 | $ | 27.37 | $ | 23.55 |
Total Return D,E | 10.53% | 11.72% | (12.73)% | 24.92% | 21.49% | 2.74% | ||||||
Ratios to Average Net Assets B,F,G | ||||||||||||
Expenses before reductions | .42% H | .43% | .43% | .43% | .44% | .45% | ||||||
Expenses net of fee waivers, if any | .42% H | .42% | .42% | .43% | .44% | .45% | ||||||
Expenses net of all reductions | .42% H | .42% | .42% | .43% | .43% | .44% | ||||||
Net investment income (loss) | 1.95% H | 1.78% | 1.12% | 1.06% | 1.65% | 1.91% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 8,479 | $ | 7,942 | $ | 7,692 | $ | 10,092 | $ | 9,033 | $ | 8,429 |
Portfolio turnover rate I | 26% H,J | 29% J | 36% J | 40% J | 95% J | 60% |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps | Less than .005% |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Balanced Fund | $1,127 |
Gross unrealized appreciation | $12,992,527 |
Gross unrealized depreciation | (2,615,008) |
Net unrealized appreciation (depreciation) | $10,377,519 |
Tax cost | $34,422,982 |
Investment to be Acquired | Shares | Commitment Amount | |
Fidelity Balanced Fund | Lions Gate Entertainment Corp. | 359 | $3,456 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Balanced Fund | 5,344,564 | 5,485,943 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Balanced Fund | 1,094 | 7,687 | 26,805 | Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Balanced Fund | 13,857 | 97,766 | 327,304 | Balanced, Class K |
% of Class-Level Average Net Assets | |
Balanced | .1190 |
Amount | % of Class-Level Average Net AssetsA | |
Balanced | $20,071 | .12 |
Class K | 1,675 | .04 |
$21,746 |
% of Average Net Assets | |
Fidelity Balanced Fund | .0059 |
% of Average Net Assets | |
Fidelity Balanced Fund | .01 |
Maximum Management Fee Rate % | |
Balanced | 0.47 |
Class K | 0.39 |
Amount | |
Fidelity Balanced Fund | $ 58 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Balanced Fund | Borrower | $ 312,318 | 5.57% | $48 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Balanced Fund | 204,199 | 380,503 | 28,922 |
Amount | |
Fidelity Balanced Fund | $32 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Balanced Fund | $15 | $3 | $- |
Six months ended February 29, 2024 | Year ended August 31, 2023 | |
Fidelity Balanced Fund | ||
Distributions to shareholders | ||
Balanced | $ 855,294 | $2,360,180 |
Class K | 207,190 | 581,936 |
Total | $1,062,484 | $2,942,116 |
Shares | Shares | Dollars | Dollars | |
Six months ended February 29, 2024 | Year ended August 31, 2023 | Six months ended February 29, 2024 | Year ended August 31, 2023 | |
Fidelity Balanced Fund | ||||
Balanced | ||||
Shares sold | 86,084 | 128,865 | $2,275,525 | $3,183,932 |
Reinvestment of distributions | 30,803 | 98,805 | 791,148 | 2,193,993 |
Shares redeemed | (93,497) | (203,664) | (2,460,917) | (4,945,165) |
Net increase (decrease) | 23,390 | 24,006 | $605,756 | $432,760 |
Class K | ||||
Shares sold | 18,094 | 33,384 | $478,441 | $818,833 |
Reinvestment of distributions | 8,068 | 26,192 | 207,190 | 581,936 |
Shares redeemed | (28,731) | (57,853) | (758,475) | (1,409,914) |
Net increase (decrease) | (2,569) | 1,723 | $(72,844) | $(9,145) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2023 to February 29, 2024). |
Annualized Expense Ratio- A | Beginning Account Value September 1, 2023 | Ending Account Value February 29, 2024 | Expenses Paid During Period- C September 1, 2023 to February 29, 2024 | |||||||
Fidelity® Balanced Fund | ||||||||||
Fidelity® Balanced Fund | .49% | |||||||||
Actual | $ 1,000 | $ 1,105.30 | $ 2.56 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.43 | $ 2.46 | |||||||
Class K ** | .42% | |||||||||
Actual | $ 1,000 | $ 1,105.30 | $ 2.20 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.77 | $ 2.11 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Balanced Fund | ||||||
Class K | .38% | |||||
Actual | $ 1.99 | |||||
Hypothetical- B | $ 1.91 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 6.1 | |
NVIDIA Corp. | 3.8 | |
Amazon.com, Inc. | 3.4 | |
Meta Platforms, Inc. Class A | 2.4 | |
Alphabet, Inc. Class C | 2.4 | |
Eaton Corp. PLC | 1.9 | |
Eli Lilly & Co. | 1.6 | |
MasterCard, Inc. Class A | 1.6 | |
Boston Scientific Corp. | 1.4 | |
Marvell Technology, Inc. | 1.4 | |
26.0 | ||
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
U.S. Treasury Obligations | 12.4 | |
Fannie Mae | 2.1 | |
Freddie Mac | 2.0 | |
Ginnie Mae | 1.5 | |
Uniform Mortgage Backed Securities | 1.5 | |
JPMorgan Chase & Co. | 0.6 | |
Morgan Stanley | 0.5 | |
Bank of America Corp. | 0.4 | |
BX Commercial Mortgage Trust | 0.4 | |
Citigroup, Inc. | 0.2 | |
21.6 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 19.8 | |
Financials | 15.5 | |
Industrials | 10.3 | |
Health Care | 8.6 | |
Consumer Discretionary | 7.8 | |
Communication Services | 7.4 | |
Energy | 2.7 | |
Materials | 2.5 | |
Consumer Staples | 1.5 | |
Real Estate | 1.2 | |
Utilities | 0.7 | |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.4)% |
Written options - (0.1)% |
Futures and Swaps - (0.6)% |
Common Stocks - 65.6% | |||
Shares | Value ($) (000s) | ||
COMMUNICATION SERVICES - 6.0% | |||
Entertainment - 1.0% | |||
LiveOne, Inc. (a)(b)(c) | 6,687,977 | 10,835 | |
Netflix, Inc. (a) | 173,270 | 104,468 | |
PodcastOne, Inc. (b) | 318,475 | 611 | |
Roblox Corp. (a) | 568,000 | 22,663 | |
Spotify Technology SA (a) | 83,324 | 21,365 | |
The Walt Disney Co. | 1,076,157 | 120,078 | |
TKO Group Holdings, Inc. | 61,600 | 5,158 | |
Universal Music Group NV | 621,863 | 18,774 | |
303,952 | |||
Interactive Media & Services - 4.8% | |||
Alphabet, Inc. Class C (a) | 5,029,955 | 703,087 | |
Meta Platforms, Inc. Class A | 1,455,629 | 713,447 | |
1,416,534 | |||
Media - 0.2% | |||
Comcast Corp. Class A | 1,286,614 | 55,131 | |
Vice Holding, Inc. (a)(d) | 1,498,461 | 0 | |
55,131 | |||
TOTAL COMMUNICATION SERVICES | 1,775,617 | ||
CONSUMER DISCRETIONARY - 7.1% | |||
Automobiles - 0.1% | |||
General Motors Co. | 803,000 | 32,907 | |
Neutron Holdings, Inc. (a)(d)(e) | 4,168,198 | 136 | |
33,043 | |||
Broadline Retail - 3.4% | |||
Amazon.com, Inc. (a) | 5,624,808 | 994,241 | |
Etsy, Inc. (a) | 177,900 | 12,754 | |
1,006,995 | |||
Hotels, Restaurants & Leisure - 1.1% | |||
Airbnb, Inc. Class A (a) | 1,065,920 | 167,850 | |
Compass Group PLC | 415,950 | 11,413 | |
Domino's Pizza, Inc. | 46,622 | 20,903 | |
Draftkings Holdings, Inc. (a) | 153,938 | 6,669 | |
Hilton Worldwide Holdings, Inc. | 598,146 | 122,213 | |
329,048 | |||
Household Durables - 0.2% | |||
Blu Investments LLC (a)(d)(e) | 14,988,638 | 5 | |
D.R. Horton, Inc. | 312,874 | 46,756 | |
46,761 | |||
Specialty Retail - 1.4% | |||
Abercrombie & Fitch Co. Class A (a) | 337,648 | 43,138 | |
Lowe's Companies, Inc. | 875,536 | 210,715 | |
Revolve Group, Inc. (a) | 208,749 | 4,578 | |
RH (a) | 20,230 | 5,551 | |
TJX Companies, Inc. | 1,537,214 | 152,399 | |
416,381 | |||
Textiles, Apparel & Luxury Goods - 0.9% | |||
Brunello Cucinelli SpA | 1,175,754 | 141,054 | |
Moncler SpA | 102,609 | 7,393 | |
NIKE, Inc. Class B | 332,037 | 34,509 | |
On Holding AG (a) | 53,249 | 1,865 | |
Ralph Lauren Corp. | 269,785 | 50,158 | |
Tory Burch LLC: | |||
Class A (d)(f) | 702,741 | 26,081 | |
Class B (a)(d)(e)(f) | 324,840 | 13,039 | |
274,099 | |||
TOTAL CONSUMER DISCRETIONARY | 2,106,327 | ||
CONSUMER STAPLES - 0.9% | |||
Beverages - 0.2% | |||
Monster Beverage Corp. | 730,968 | 43,200 | |
Consumer Staples Distribution & Retail - 0.3% | |||
Dollar Tree, Inc. (a) | 119,970 | 17,597 | |
Performance Food Group Co. (a) | 197,931 | 15,195 | |
Target Corp. | 260,879 | 39,894 | |
Walmart, Inc. | 384,747 | 22,550 | |
95,236 | |||
Household Products - 0.2% | |||
The Clorox Co. | 278,816 | 42,745 | |
Personal Care Products - 0.2% | |||
Estee Lauder Companies, Inc. Class A | 236,369 | 35,120 | |
Kenvue, Inc. | 1,483,221 | 28,181 | |
L'Oreal SA | 10,418 | 4,976 | |
68,277 | |||
TOTAL CONSUMER STAPLES | 249,458 | ||
ENERGY - 1.3% | |||
Energy Equipment & Services - 0.9% | |||
Baker Hughes Co. Class A | 3,707,589 | 109,708 | |
Schlumberger Ltd. | 2,259,310 | 109,192 | |
TechnipFMC PLC | 2,367,214 | 51,345 | |
270,245 | |||
Oil, Gas & Consumable Fuels - 0.4% | |||
Canadian Natural Resources Ltd. | 318,000 | 22,152 | |
Hess Corp. | 150,596 | 21,949 | |
Imperial Oil Ltd. | 258,900 | 16,200 | |
Shell PLC ADR | 734,600 | 46,155 | |
106,456 | |||
TOTAL ENERGY | 376,701 | ||
FINANCIALS - 11.1% | |||
Banks - 1.8% | |||
Citigroup, Inc. | 397,700 | 22,068 | |
JPMorgan Chase & Co. | 854,333 | 158,957 | |
PNC Financial Services Group, Inc. | 448,034 | 65,951 | |
Starling Bank Ltd. Series D (a)(d)(e) | 7,254,400 | 28,754 | |
U.S. Bancorp | 1,933,268 | 81,120 | |
UniCredit SpA | 172,000 | 5,761 | |
Wells Fargo & Co. | 2,969,967 | 165,100 | |
527,711 | |||
Capital Markets - 3.7% | |||
Ares Management Corp. | 1,401,264 | 185,850 | |
BlackRock, Inc. Class A | 162,956 | 132,213 | |
Blue Owl Capital, Inc. Class A | 3,575,197 | 64,211 | |
Carlyle Group LP | 128,900 | 5,910 | |
Cboe Global Markets, Inc. | 299,393 | 57,483 | |
CME Group, Inc. | 567,543 | 125,058 | |
Deutsche Borse AG | 91,841 | 19,227 | |
Goldman Sachs Group, Inc. | 288,748 | 112,337 | |
Intercontinental Exchange, Inc. | 584,961 | 80,970 | |
KKR & Co. LP | 1,113,366 | 109,399 | |
London Stock Exchange Group PLC | 133,676 | 15,014 | |
Moody's Corp. | 133,756 | 50,750 | |
Morgan Stanley | 616,846 | 53,073 | |
Raymond James Financial, Inc. | 129,662 | 15,601 | |
TulCo LLC (a)(d)(e)(f) | 42,857 | 32,783 | |
UBS Group AG | 632,727 | 18,001 | |
XP, Inc. Class A | 448,091 | 10,593 | |
1,088,473 | |||
Consumer Finance - 0.2% | |||
American Express Co. | 90,383 | 19,832 | |
Capital One Financial Corp. | 324,800 | 44,696 | |
64,528 | |||
Financial Services - 3.9% | |||
Apollo Global Management, Inc. | 2,181,572 | 243,900 | |
Berkshire Hathaway, Inc. Class B (a) | 174,609 | 71,485 | |
Block, Inc. Class A (a) | 543,800 | 43,216 | |
FleetCor Technologies, Inc. (a) | 12,200 | 3,407 | |
Global Payments, Inc. | 565,000 | 73,281 | |
MasterCard, Inc. Class A | 991,023 | 470,498 | |
New Moda LLC Class 1 (a)(d) | 62,880 | 22 | |
Visa, Inc. Class A | 870,246 | 245,966 | |
1,151,775 | |||
Insurance - 1.5% | |||
Arthur J. Gallagher & Co. | 318,503 | 77,692 | |
Chubb Ltd. | 490,637 | 123,479 | |
Globe Life, Inc. | 179,684 | 22,807 | |
Hartford Financial Services Group, Inc. | 877,797 | 84,128 | |
Marsh & McLennan Companies, Inc. | 314,876 | 63,690 | |
The Travelers Companies, Inc. | 387,886 | 85,707 | |
457,503 | |||
TOTAL FINANCIALS | 3,289,990 | ||
HEALTH CARE - 7.8% | |||
Biotechnology - 1.3% | |||
Alnylam Pharmaceuticals, Inc. (a) | 27,900 | 4,215 | |
Gilead Sciences, Inc. | 274,100 | 19,763 | |
Karuna Therapeutics, Inc. (a) | 38,810 | 12,185 | |
Legend Biotech Corp. ADR (a) | 281,480 | 18,341 | |
Moderna, Inc. (a) | 1,042,239 | 96,136 | |
Nuvalent, Inc. Class A (a) | 109,392 | 9,202 | |
Regeneron Pharmaceuticals, Inc. (a) | 229,722 | 221,932 | |
381,774 | |||
Health Care Equipment & Supplies - 2.2% | |||
Baxter International, Inc. | 516,454 | 21,133 | |
Boston Scientific Corp. (a) | 6,391,227 | 423,163 | |
Edwards Lifesciences Corp. (a) | 624,016 | 52,960 | |
Glaukos Corp. (a) | 298,563 | 26,450 | |
Intuitive Surgical, Inc. (a) | 204,192 | 78,736 | |
Stryker Corp. | 110,387 | 38,533 | |
640,975 | |||
Health Care Providers & Services - 1.3% | |||
Cardinal Health, Inc. | 138,852 | 15,549 | |
Centene Corp. (a) | 1,116,015 | 87,529 | |
CVS Health Corp. | 1,018,194 | 75,723 | |
UnitedHealth Group, Inc. | 451,324 | 222,774 | |
401,575 | |||
Health Care Technology - 0.0% | |||
Evolent Health, Inc. Class A (a) | 230,600 | 7,820 | |
Life Sciences Tools & Services - 0.6% | |||
Agilent Technologies, Inc. | 362,046 | 49,731 | |
Bruker Corp. | 99,980 | 8,652 | |
Danaher Corp. | 351,004 | 88,853 | |
Thermo Fisher Scientific, Inc. | 37,124 | 21,167 | |
168,403 | |||
Pharmaceuticals - 2.4% | |||
Eli Lilly & Co. | 647,321 | 487,873 | |
Merck & Co., Inc. | 1,311,630 | 166,774 | |
Novo Nordisk A/S Series B | 514,727 | 61,441 | |
716,088 | |||
TOTAL HEALTH CARE | 2,316,635 | ||
INDUSTRIALS - 9.4% | |||
Aerospace & Defense - 1.6% | |||
BWX Technologies, Inc. | 25,884 | 2,610 | |
General Dynamics Corp. | 281,754 | 76,989 | |
Howmet Aerospace, Inc. | 634,286 | 42,212 | |
Space Exploration Technologies Corp.: | |||
Class A (a)(d)(e) | 411,220 | 39,888 | |
Class C (a)(d)(e) | 56,070 | 5,439 | |
The Boeing Co. (a) | 1,308,893 | 266,648 | |
TransDigm Group, Inc. | 36,826 | 43,371 | |
477,157 | |||
Air Freight & Logistics - 0.2% | |||
FedEx Corp. | 274,996 | 68,466 | |
Building Products - 1.2% | |||
Carrier Global Corp. | 382,843 | 21,278 | |
Trane Technologies PLC | 1,135,389 | 320,146 | |
341,424 | |||
Commercial Services & Supplies - 0.2% | |||
ACV Auctions, Inc. Class A (a) | 166,000 | 2,947 | |
Cintas Corp. | 91,173 | 57,312 | |
Republic Services, Inc. | 13,641 | 2,504 | |
62,763 | |||
Construction & Engineering - 0.3% | |||
Fluor Corp. (a) | 2,193,051 | 80,704 | |
Electrical Equipment - 2.6% | |||
Eaton Corp. PLC | 1,920,053 | 554,895 | |
Hubbell, Inc. Class B | 233,936 | 89,052 | |
Nextracker, Inc. Class A | 1,268,299 | 71,329 | |
Prysmian SpA | 896,545 | 44,622 | |
759,898 | |||
Ground Transportation - 0.7% | |||
Lyft, Inc. (a) | 1,467,959 | 23,311 | |
Uber Technologies, Inc. (a) | 2,241,602 | 178,207 | |
201,518 | |||
Industrial Conglomerates - 0.9% | |||
General Electric Co. | 1,761,630 | 276,382 | |
Machinery - 0.8% | |||
Caterpillar, Inc. | 451,060 | 150,636 | |
PACCAR, Inc. | 198,214 | 21,980 | |
Parker Hannifin Corp. | 63,106 | 33,790 | |
Pentair PLC | 286,645 | 22,298 | |
228,704 | |||
Passenger Airlines - 0.0% | |||
Alaska Air Group, Inc. (a) | 226,028 | 8,451 | |
Delta Air Lines, Inc. | 64,963 | 2,746 | |
11,197 | |||
Professional Services - 0.1% | |||
Equifax, Inc. | 81,800 | 22,380 | |
Leidos Holdings, Inc. | 123,700 | 15,816 | |
38,196 | |||
Trading Companies & Distributors - 0.8% | |||
Applied Industrial Technologies, Inc. | 71,836 | 13,641 | |
Ferguson PLC | 86,329 | 18,254 | |
United Rentals, Inc. | 211,907 | 146,909 | |
W.W. Grainger, Inc. | 49,570 | 48,254 | |
227,058 | |||
TOTAL INDUSTRIALS | 2,773,467 | ||
INFORMATION TECHNOLOGY - 19.3% | |||
Electronic Equipment, Instruments & Components - 0.7% | |||
Amphenol Corp. Class A | 956,687 | 104,508 | |
Flex Ltd. (a) | 1,396,363 | 39,308 | |
Jabil, Inc. | 476,691 | 68,686 | |
212,502 | |||
IT Services - 0.8% | |||
Accenture PLC Class A | 323,666 | 121,304 | |
Shopify, Inc. Class A (a) | 1,614,899 | 123,330 | |
X Holdings Corp. Class A (d)(e) | 172,430 | 4,630 | |
249,264 | |||
Semiconductors & Semiconductor Equipment - 7.6% | |||
Advanced Micro Devices, Inc. (a) | 796,077 | 153,269 | |
Applied Materials, Inc. | 166,719 | 33,614 | |
ASML Holding NV (depository receipt) | 204,256 | 194,386 | |
GlobalFoundries, Inc. (a) | 301,091 | 16,461 | |
Lam Research Corp. | 37,758 | 35,426 | |
Marvell Technology, Inc. | 5,774,735 | 413,818 | |
Micron Technology, Inc. | 538,688 | 48,811 | |
Monolithic Power Systems, Inc. | 24,680 | 17,771 | |
NVIDIA Corp. | 1,421,555 | 1,124,621 | |
NXP Semiconductors NV | 176,967 | 44,194 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 690,334 | 88,825 | |
Universal Display Corp. | 479,774 | 83,682 | |
2,254,878 | |||
Software - 8.8% | |||
Adobe, Inc. (a) | 307,983 | 172,557 | |
Atom Tickets LLC (a)(d)(e)(f) | 2,580,511 | 0 | |
Autodesk, Inc. (a) | 156,243 | 40,337 | |
Dynatrace, Inc. (a) | 767,440 | 38,027 | |
Fair Isaac Corp. (a) | 24,194 | 30,724 | |
HubSpot, Inc. (a) | 72,513 | 44,872 | |
Intuit, Inc. | 83,926 | 55,634 | |
Microsoft Corp. | 4,386,490 | 1,814,432 | |
Rapid7, Inc. (a) | 159,716 | 9,356 | |
Salesforce, Inc. | 515,672 | 159,250 | |
Synopsys, Inc. (a) | 180,530 | 103,575 | |
UiPath, Inc. Class A (a) | 2,630,463 | 62,473 | |
Workday, Inc. Class A (a) | 94,517 | 27,850 | |
Zoom Video Communications, Inc. Class A (a) | 374,344 | 26,477 | |
2,585,564 | |||
Technology Hardware, Storage & Peripherals - 1.4% | |||
Apple, Inc. | 2,169,572 | 392,150 | |
Samsung Electronics Co. Ltd. (a) | 100,000 | 5,496 | |
397,646 | |||
TOTAL INFORMATION TECHNOLOGY | 5,699,854 | ||
MATERIALS - 2.2% | |||
Chemicals - 1.5% | |||
Linde PLC | 712,592 | 319,826 | |
Sherwin-Williams Co. | 378,267 | 125,596 | |
445,422 | |||
Construction Materials - 0.3% | |||
Martin Marietta Materials, Inc. | 138,143 | 79,807 | |
Vulcan Materials Co. | 90,000 | 23,927 | |
103,734 | |||
Containers & Packaging - 0.1% | |||
Ball Corp. | 423,882 | 27,137 | |
Metals & Mining - 0.3% | |||
Freeport-McMoRan, Inc. | 1,679,484 | 63,501 | |
Gold Fields Ltd. sponsored ADR (b) | 1,224,334 | 15,965 | |
79,466 | |||
TOTAL MATERIALS | 655,759 | ||
REAL ESTATE - 0.3% | |||
Equity Real Estate Investment Trusts (REITs) - 0.2% | |||
Prologis, Inc. | 71,600 | 9,542 | |
Public Storage | 184,000 | 52,232 | |
Ventas, Inc. | 115,000 | 4,863 | |
66,637 | |||
Real Estate Management & Development - 0.1% | |||
Zillow Group, Inc. Class C (a) | 329,230 | 18,486 | |
TOTAL REAL ESTATE | 85,123 | ||
UTILITIES - 0.2% | |||
Electric Utilities - 0.2% | |||
Constellation Energy Corp. | 228,909 | 38,560 | |
Southern Co. | 108,600 | 7,303 | |
45,863 | |||
TOTAL COMMON STOCKS (Cost $11,243,442) | 19,374,794 | ||
Preferred Stocks - 0.3% | |||
Shares | Value ($) (000s) | ||
Convertible Preferred Stocks - 0.3% | |||
COMMUNICATION SERVICES - 0.1% | |||
Interactive Media & Services - 0.1% | |||
ByteDance Ltd. Series E1 (a)(d)(e) | 145,676 | 32,213 | |
Reddit, Inc. Series E (a)(d)(e) | 28,500 | 834 | |
33,047 | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Textiles, Apparel & Luxury Goods - 0.0% | |||
Goop International Holdings, Inc.: | |||
Series C(a)(d)(e) | 1,881,874 | 10,953 | |
Series D(a)(d)(e) | 342,241 | 1,992 | |
12,945 | |||
HEALTH CARE - 0.0% | |||
Health Care Providers & Services - 0.0% | |||
Get Heal, Inc. Series B (a)(d)(e) | 8,512,822 | 14 | |
INDUSTRIALS - 0.2% | |||
Aerospace & Defense - 0.2% | |||
Space Exploration Technologies Corp. Series H (a)(d)(e) | 51,921 | 50,363 | |
TOTAL CONVERTIBLE PREFERRED STOCKS | 96,369 | ||
Nonconvertible Preferred Stocks - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
Series 1C(a)(d)(e) | 38,589,900 | 1,258 | |
Series 1D(a)(d)(e) | 40,824,742 | 1,331 | |
2,589 | |||
TOTAL PREFERRED STOCKS (Cost $66,156) | 98,958 | ||
Corporate Bonds - 0.0% | |||
Principal Amount (g) (000s) | Value ($) (000s) | ||
Convertible Bonds - 0.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Neutron Holdings, Inc.: | |||
4% 5/22/27(d)(e) | 1,371 | 1,857 | |
4% 6/12/27(d)(e) | 354 | 480 | |
2,337 | |||
Nonconvertible Bonds - 0.0% | |||
FINANCIALS - 0.0% | |||
Financial Services - 0.0% | |||
Ant International Co. Ltd. 3.55% 8/14/24 (d)(e) | 3,617 | 3,622 | |
TOTAL CORPORATE BONDS (Cost $5,342) | 5,959 | ||
Fixed-Income Funds - 33.8% | |||
Shares | Value ($) (000s) | ||
Fidelity High Income Central Fund (h) | 10,593,440 | 1,105,425 | |
Fidelity Investment Grade Bond Central Fund (h) | 91,622,224 | 8,890,104 | |
TOTAL FIXED-INCOME FUNDS (Cost $11,028,655) | 9,995,529 | ||
Other - 0.0% | |||
Shares | Value ($) (000s) | ||
Other - 0.0% | |||
Fidelity Private Credit Central Fund LLC (e)(i) (Cost $11,409) | 1,134,180 | 11,614 | |
Money Market Funds - 0.3% | |||
Shares | Value ($) (000s) | ||
Fidelity Cash Central Fund 5.39% (j) | 63,586,591 | 63,599 | |
Fidelity Securities Lending Cash Central Fund 5.39% (j)(k) | 12,869,258 | 12,871 | |
TOTAL MONEY MARKET FUNDS (Cost $76,470) | 76,470 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $22,431,474) | 29,563,324 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | (2,233) |
NET ASSETS - 100.0% | 29,561,091 |
(a) | Non-income producing |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Affiliated company |
(d) | Level 3 security |
(e) | 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 $241,205,000 or 0.8% of net assets. |
(f) | Investment is owned by a wholly-owned subsidiary (Subsidiary) that is treated as a corporation for U.S. tax purposes. |
(g) | Amount is stated in United States dollars unless otherwise noted. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. |
(j) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(k) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) (000s) |
Ant International Co. Ltd. 3.55% 8/14/24 | 8/14/23 | 3,617 |
Atom Tickets LLC | 8/15/17 | 15,000 |
Blu Investments LLC | 5/21/20 | 26 |
ByteDance Ltd. Series E1 | 11/18/20 | 15,962 |
Fidelity Private Credit Central Fund LLC | 6/06/22 - 2/02/24 | 11,409 |
Get Heal, Inc. Series B | 8/17/23 | 18 |
Goop International Holdings, Inc. Series C | 12/15/17 | 20,000 |
Goop International Holdings, Inc. Series D | 6/21/19 | 5,000 |
Neutron Holdings, Inc. | 2/04/21 | 42 |
Neutron Holdings, Inc. Series 1C | 7/03/18 - 1/25/19 | 7,056 |
Neutron Holdings, Inc. Series 1D | 7/03/18 - 1/25/19 | 9,900 |
Neutron Holdings, Inc. 4% 5/22/27 | 6/04/20 | 1,371 |
Neutron Holdings, Inc. 4% 6/12/27 | 6/12/20 | 354 |
Reddit, Inc. Series E | 5/18/21 | 1,211 |
Space Exploration Technologies Corp. Class A | 9/11/17 | 5,551 |
Space Exploration Technologies Corp. Class C | 9/11/17 | 757 |
Space Exploration Technologies Corp. Series H | 8/04/17 | 7,009 |
Starling Bank Ltd. Series D | 6/18/21 - 4/05/22 | 13,909 |
Tory Burch LLC Class A | 5/14/15 | 50,000 |
Tory Burch LLC Class B | 12/31/12 | 17,505 |
TulCo LLC | 8/24/17 - 12/14/17 | 15,000 |
X Holdings Corp. Class A | 10/25/22 | 17,243 |
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 ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 119,215 | 2,077,745 | 2,133,361 | 5,272 | - | - | 63,599 | 0.1% |
Fidelity High Income Central Fund | 1,251,032 | 46,620 | 209,887 | 46,620 | (17,286) | 34,946 | 1,105,425 | 77.7% |
Fidelity Investment Grade Bond Central Fund | 8,540,786 | 535,484 | 253,576 | 185,247 | (30,475) | 97,885 | 8,890,104 | 22.4% |
Fidelity Private Credit Central Fund LLC | 5,469 | 5,970 | - | 576 | - | 175 | 11,614 | 1.7% |
Fidelity Securities Lending Cash Central Fund 5.39% | 69,423 | 233,040 | 289,592 | 43 | - | - | 12,871 | 0.0% |
Total | 9,985,925 | 2,898,859 | 2,886,416 | 237,758 | (47,761) | 133,006 | 10,083,613 | |
Affiliate (Amounts in thousands) | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) |
LiveOne, Inc. | 14,374 | - | 34 | 907 | (27) | (3,478) | 10,835 |
Total | 14,374 | - | 34 | 907 | (27) | (3,478) | 10,835 |
Valuation Inputs at Reporting Date: | ||||
Description (Amounts in thousands) | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 1,808,664 | 1,756,843 | 18,774 | 33,047 |
Consumer Discretionary | 2,121,861 | 2,055,653 | 11,413 | 54,795 |
Consumer Staples | 249,458 | 244,482 | 4,976 | - |
Energy | 376,701 | 376,701 | - | - |
Financials | 3,289,990 | 3,188,429 | 40,002 | 61,559 |
Health Care | 2,316,649 | 2,255,194 | 61,441 | 14 |
Industrials | 2,823,830 | 2,728,140 | - | 95,690 |
Information Technology | 5,699,854 | 5,695,224 | - | 4,630 |
Materials | 655,759 | 655,759 | - | - |
Real Estate | 85,123 | 85,123 | - | - |
Utilities | 45,863 | 45,863 | - | - |
Corporate Bonds | 5,959 | - | - | 5,959 |
Fixed-Income Funds | 9,995,529 | 9,995,529 | - | - |
Other | 11,614 | - | 11,614 | - |
Money Market Funds | 76,470 | 76,470 | - | - |
Total Investments in Securities: | 29,563,324 | 29,159,410 | 148,220 | 255,694 |
Consolidated Statement of Assets and Liabilities | ||||
Amounts in thousands (except per-share amounts) | February 29, 2024 (Unaudited) | |||
Assets | ||||
Investment in securities, at value (including securities loaned of $13,163) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $11,294,560) | $ | 19,468,876 | ||
Fidelity Central Funds (cost $11,116,534) | 10,083,613 | |||
Other affiliated issuers (cost $20,380) | 10,835 | |||
Total Investment in Securities (cost $22,431,474) | $ | 29,563,324 | ||
Cash | 8 | |||
Restricted cash | 3,807 | |||
Foreign currency held at value (cost $1,449) | 1,446 | |||
Receivable for investments sold | 29,478 | |||
Receivable for fund shares sold | 13,579 | |||
Dividends receivable | 13,060 | |||
Interest receivable | 327 | |||
Distributions receivable from Fidelity Central Funds | 376 | |||
Prepaid expenses | 19 | |||
Other receivables | 1,074 | |||
Total assets | 29,626,498 | |||
Liabilities | ||||
Payable for investments purchased | $ | 23,853 | ||
Payable for fund shares redeemed | 15,642 | |||
Accrued management fee | 8,994 | |||
Other affiliated payables | 2,889 | |||
Other payables and accrued expenses | 1,148 | |||
Collateral on securities loaned | 12,881 | |||
Total Liabilities | 65,407 | |||
Commitments and contingent liabilities (see Commitments note) | ||||
Net Assets | $ | 29,561,091 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 21,701,827 | ||
Total accumulated earnings (loss) | 7,859,264 | |||
Net Assets | $ | 29,561,091 | ||
Net Asset Value and Maximum Offering Price | ||||
Puritan : | ||||
Net Asset Value, offering price and redemption price per share ($26,007,092 ÷ 1,049,345 shares) | $ | 24.78 | ||
Class K : | ||||
Net Asset Value, offering price and redemption price per share ($3,553,999 ÷ 143,537 shares) | $ | 24.76 |
Consolidated Statement of Operations | ||||
Amounts in thousands | Six months ended February 29, 2024 (Unaudited) | |||
Investment Income | ||||
Dividends (including $907 earned from affiliated issuers) | $ | 77,948 | ||
Interest | 3,935 | |||
Income from Fidelity Central Funds (including $43 from security lending) | 237,750 | |||
Total Income | 319,633 | |||
Expenses | ||||
Management fee | $ | 50,942 | ||
Transfer agent fees | 15,243 | |||
Accounting fees | 1,080 | |||
Custodian fees and expenses | 102 | |||
Independent trustees' fees and expenses | 70 | |||
Registration fees | 81 | |||
Audit | 119 | |||
Legal | 45 | |||
Interest | 33 | |||
Miscellaneous | 49 | |||
Total expenses before reductions | 67,764 | |||
Expense reductions | (1,815) | |||
Total expenses after reductions | 65,949 | |||
Net Investment income (loss) | 253,684 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of foreign taxes of $41) | 847,695 | |||
Redemptions in-kind | 42,229 | |||
Fidelity Central Funds | (47,761) | |||
Other affiliated issuers | (27) | |||
Foreign currency transactions | 28 | |||
Capital gain distributions from Fidelity Central Funds | 8 | |||
Total net realized gain (loss) | 842,172 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 1,968,445 | |||
Fidelity Central Funds | 133,006 | |||
Other affiliated issuers | (3,478) | |||
Assets and liabilities in foreign currencies | 3 | |||
Total change in net unrealized appreciation (depreciation) | 2,097,976 | |||
Net gain (loss) | 2,940,148 | |||
Net increase (decrease) in net assets resulting from operations | $ | 3,193,832 |
Consolidated Statement of Changes in Net Assets | ||||
Amount in thousands | Six months ended February 29, 2024 (Unaudited) | Year ended August 31, 2023 | ||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 253,684 | $ | 475,597 |
Net realized gain (loss) | 842,172 | 916,685 | ||
Change in net unrealized appreciation (depreciation) | 2,097,976 | 1,630,156 | ||
Net increase (decrease) in net assets resulting from operations | 3,193,832 | 3,022,438 | ||
Distributions to shareholders | (1,249,052) | (2,340,895) | ||
Share transactions - net increase (decrease) | (45,130) | (699,333) | ||
Total increase (decrease) in net assets | 1,899,650 | (17,790) | ||
Net Assets | ||||
Beginning of period | 27,661,441 | 27,679,231 | ||
End of period | $ | 29,561,091 | $ | 27,661,441 |
Fidelity® Puritan® Fund |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.18 | $ | 22.76 | $ | 29.62 | $ | 25.87 | $ | 22.17 | $ | 25.10 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .21 | .38 | .33 | .25 | .30 | .34 | ||||||
Net realized and unrealized gain (loss) | 2.45 | 1.98 | (3.57) | 4.79 | 4.35 | (.27) | ||||||
Total from investment operations | 2.66 | 2.36 | (3.24) | 5.04 | 4.65 | .07 | ||||||
Distributions from net investment income | (.21) | (.35) | (.39) C | (.25) | (.32) | (.36) | ||||||
Distributions from net realized gain | (.85) | (1.59) | (3.23) C | (1.04) | (.63) | (2.63) | ||||||
Total distributions | (1.06) | (1.94) | (3.62) | (1.29) | (.95) | (3.00) D | ||||||
Net asset value, end of period | $ | 24.78 | $ | 23.18 | $ | 22.76 | $ | 29.62 | $ | 25.87 | $ | 22.17 |
Total Return E,F | 12.12% | 12.00% | (12.30)% | 20.33% | 21.84% | 1.17% | ||||||
Ratios to Average Net Assets B,G,H | ||||||||||||
Expenses before reductions | .51% I | .51% | .50% | .51% | .52% | .53% | ||||||
Expenses net of fee waivers, if any | .49% I | .50% | .50% | .51% | .52% | .53% | ||||||
Expenses net of all reductions | .49% I | .50% | .50% | .50% | .52% | .53% | ||||||
Net investment income (loss) | 1.85% I | 1.76% | 1.31% | .93% | 1.33% | 1.58% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 26,007 | $ | 23,959 | $ | 23,519 | $ | 28,846 | $ | 24,168 | $ | 21,319 |
Portfolio turnover rate J | 49% I,K | 52% K | 62% K | 58% K | 55% K | 132% K |
Fidelity® Puritan® Fund Class K |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 23.16 | $ | 22.74 | $ | 29.60 | $ | 25.85 | $ | 22.15 | $ | 25.09 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) A,B | .22 | .40 | .35 | .27 | .32 | .36 | ||||||
Net realized and unrealized gain (loss) | 2.45 | 1.98 | (3.57) | 4.79 | 4.35 | (.28) | ||||||
Total from investment operations | 2.67 | 2.38 | (3.22) | 5.06 | 4.67 | .08 | ||||||
Distributions from net investment income | (.22) | (.37) | (.41) C | (.27) | (.34) | (.38) | ||||||
Distributions from net realized gain | (.85) | (1.59) | (3.23) C | (1.04) | (.63) | (2.63) | ||||||
Total distributions | (1.07) | (1.96) | (3.64) | (1.31) | (.97) | (3.02) D | ||||||
Net asset value, end of period | $ | 24.76 | $ | 23.16 | $ | 22.74 | $ | 29.60 | $ | 25.85 | $ | 22.15 |
Total Return E,F | 12.17% | 12.10% | (12.24)% | 20.43% | 21.97% | 1.22% | ||||||
Ratios to Average Net Assets A,G,H | ||||||||||||
Expenses before reductions | .43% I | .43% | .43% | .43% | .44% | .45% | ||||||
Expenses net of fee waivers, if any | .41% I | .42% | .42% | .43% | .44% | .45% | ||||||
Expenses net of all reductions | .41% I | .42% | .42% | .43% | .43% | .44% | ||||||
Net investment income (loss) | 1.92% I | 1.84% | 1.39% | 1.00% | 1.41% | 1.67% | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (in millions) | $ | 3,554 | $ | 3,702 | $ | 4,160 | $ | 5,659 | $ | 5,478 | $ | 5,662 |
Portfolio turnover rate J | 49% I,K | 52% K | 62% K | 58% K | 55% K | 132% K |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity High Income Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. | Delayed Delivery & When Issued Securities Loans & Direct Debt Instruments Restricted Securities | Less than .005% |
Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps | Less than .005% |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Fidelity Puritan Fund | $992 |
Gross unrealized appreciation | $8,409,421 |
Gross unrealized depreciation | (1,290,784) |
Net unrealized appreciation (depreciation) | $7,118,637 |
Tax cost | $22,444,687 |
Investment to be Acquired | Commitment Amount | |
Fidelity Puritan Fund | Fidelity Private Credit Central Fund LLC | $47,013 |
$ Amount | % of Net Assets | |
Fidelity Puritan Fund | 75,710 | .26 |
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. |
Purchases ($) | Sales ($) | |
Fidelity Puritan Fund | 6,724,541 | 7,589,882 |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Puritan Fund | 5,065 | 42,229 | 116,894 | Class K |
Shares | Total net realized gain or loss ($) | Total Proceeds ($) | Participating classes | |
Fidelity Puritan Fund | 710 | 4,410 | 15,422 | Class K |
% of Class-Level Average Net Assets | |
Puritan | 0.1210% |
Amount | % of Class-Level Average Net AssetsA | |
Puritan | $14,527 | .12 |
Class K | 716 | .04 |
$15,243 |
% of Average Net Assets | |
Fidelity Puritan Fund | 0.0077% |
% of Average Net Assets | |
Fidelity Puritan Fund | .01 |
Maximum Management Fee Rate % | |
Puritan | 0.47 |
Class K | 0.39 |
Amount | |
Fidelity Puritan Fund | $121 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Puritan Fund | Borrower | $107,181 | 5.57% | $33 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Puritan Fund | 273,927 | 320,654 | (12,433) |
Amount | |
Fidelity Puritan Fund | $22 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Puritan Fund | $5 | $- A | $- |
Six months ended February 29, 2024 | Year ended August 31, 2023 | |
Fidelity Puritan Fund | ||
Distributions to shareholders | ||
Puritan | $1,091,217 | $1,987,615 |
Class K | 157,835 | 353,280 |
Total | $1,249,052 | $2,340,895 |
Shares | Shares | Dollars | Dollars | |
Six months ended February 29, 2024 | Year ended August 31, 2023 | Six months ended February 29, 2024 | Year ended August 31, 2023 | |
Fidelity Puritan Fund | ||||
Puritan | ||||
Shares sold | 37,290 | 52,955 | $862,936 | $1,149,216 |
Reinvestment of distributions | 46,468 | 94,555 | 1,016,580 | 1,862,907 |
Shares redeemed | (67,878) | (147,229) | (1,550,799) | (3,168,970) |
Net increase (decrease) | 15,880 | 281 | $328,717 | $(156,847) |
Class K | ||||
Shares sold | 8,621 | 17,434 | $197,941 | $375,693 |
Reinvestment of distributions | 7,221 | 17,952 | 157,825 | 353,263 |
Shares redeemed | (32,160) | (58,447) | (729,613) | (1,271,442) |
Net increase (decrease) | (16,318) | (23,061) | $(373,847) | $(542,486) |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2023 to February 29, 2024). |
Annualized Expense Ratio- A | Beginning Account Value September 1, 2023 | Ending Account Value February 29, 2024 | Expenses Paid During Period- C September 1, 2023 to February 29, 2024 | |||||||
Fidelity® Puritan® Fund | ||||||||||
Fidelity® Puritan® Fund ** | .49% | |||||||||
Actual | $ 1,000 | $ 1,121.20 | $ 2.58 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.43 | $ 2.46 | |||||||
Class K ** | .41% | |||||||||
Actual | $ 1,000 | $ 1,121.70 | $ 2.16 | |||||||
Hypothetical-B | $ 1,000 | $ 1,022.82 | $ 2.06 | |||||||
Annualized Expense Ratio- A | Expenses Paid | |||||
Fidelity® Puritan® Fund | ||||||
Fidelity® Puritan® Fund | .46% | |||||
Actual | $ 2.43 | |||||
Hypothetical- B | $ 2.31 | |||||
Class K | .38% | |||||
Actual | $ 2.00 | |||||
Hypothetical- B | $ 1.91 | |||||
A Annualized expense ratio reflects expenses net of applicable fee waivers. | ||||||
B 5% return per year before expenses |
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Contents
Top Holdings (% of Fund's net assets) | ||
Microsoft Corp. | 5.4 | |
NVIDIA Corp. | 3.4 | |
Apple, Inc. | 3.2 | |
Amazon.com, Inc. | 3.0 | |
Meta Platforms, Inc. Class A | 2.0 | |
Alphabet, Inc. Class A | 1.4 | |
JPMorgan Chase & Co. | 1.1 | |
Eli Lilly & Co. | 1.1 | |
Exxon Mobil Corp. | 1.0 | |
UnitedHealth Group, Inc. | 0.9 | |
22.5 | ||
Top Bond Issuers (% of Fund's net assets) | ||
(with maturities greater than one year) | ||
U.S. Treasury Obligations | 15.1 | |
Fannie Mae | 2.6 | |
Freddie Mac | 2.5 | |
Ginnie Mae | 1.9 | |
Uniform Mortgage Backed Securities | 1.9 | |
JPMorgan Chase & Co. | 0.7 | |
Morgan Stanley | 0.6 | |
Bank of America Corp. | 0.4 | |
BX Commercial Mortgage Trust | 0.4 | |
Citigroup, Inc. | 0.4 | |
26.5 | ||
Market Sectors (% of Fund's net assets) | ||
Information Technology | 18.4 | |
Financials | 13.3 | |
Health Care | 8.5 | |
Consumer Discretionary | 7.2 | |
Communication Services | 6.5 | |
Industrials | 5.9 | |
Consumer Staples | 4.3 | |
Energy | 3.3 | |
Real Estate | 2.4 | |
Utilities | 1.8 | |
Materials | 1.5 | |
Quality Diversification (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.8)% |
Percentages shown as 0.0% may reflect amounts less than 0.05%. |
We have used ratings from Moody's Investors Service, Inc. Where Moody's® ratings are not available, we have used S&P® ratings. All ratings are as of the date indicated and do not reflect subsequent changes. |
Asset Allocation (% of Fund's net assets) |
Short-Term Investments and Net Other Assets (Liabilities) - (2.8)% |
Written options - (0.1)% |
Futures and Swaps - (0.3)% |
Common Stocks - 62.4% | |||
Shares | Value ($) | ||
COMMUNICATION SERVICES - 5.7% | |||
Diversified Telecommunication Services - 0.3% | |||
AT&T, Inc. | 309,294 | 5,236,347 | |
Cellnex Telecom SA (a) | 16,021 | 579,232 | |
Liberty Global Ltd. Class C (b) | 21,223 | 393,687 | |
6,209,266 | |||
Entertainment - 1.0% | |||
Capcom Co. Ltd. | 8,200 | 329,761 | |
Netflix, Inc. (c) | 8,924 | 5,380,458 | |
Roku, Inc. Class A (c) | 5,487 | 346,669 | |
Sea Ltd. ADR (c) | 39,230 | 1,903,440 | |
Spotify Technology SA (c) | 2,760 | 707,692 | |
Take-Two Interactive Software, Inc. (c) | 3,094 | 454,601 | |
The Walt Disney Co. | 63,863 | 7,125,834 | |
TKO Group Holdings, Inc. | 18,177 | 1,521,960 | |
Ubisoft Entertainment SA (c) | 31,975 | 732,642 | |
18,503,057 | |||
Interactive Media & Services - 4.0% | |||
Alphabet, Inc.: | |||
Class A (c) | 189,542 | 26,243,985 | |
Class C (c) | 49,715 | 6,949,163 | |
Epic Games, Inc. (c)(d)(e) | 182 | 124,863 | |
Match Group, Inc. (c) | 33,218 | 1,197,177 | |
Meta Platforms, Inc. Class A | 74,657 | 36,591,635 | |
Snap, Inc. Class A (c) | 117,956 | 1,299,875 | |
72,406,698 | |||
Media - 0.3% | |||
Altice U.S.A., Inc. Class A (c) | 189,818 | 563,759 | |
Charter Communications, Inc. Class A (c) | 3,304 | 971,145 | |
Comcast Corp. Class A | 36,558 | 1,566,510 | |
Liberty Broadband Corp.: | |||
Class A (c) | 28,470 | 1,712,471 | |
Class C (c) | 1,276 | 76,790 | |
Paramount Global Class B | 5,872 | 64,827 | |
4,955,502 | |||
Wireless Telecommunication Services - 0.1% | |||
T-Mobile U.S., Inc. | 10,910 | 1,781,603 | |
TOTAL COMMUNICATION SERVICES | 103,856,126 | ||
CONSUMER DISCRETIONARY - 6.8% | |||
Automobile Components - 0.1% | |||
Adient PLC (c) | 26,155 | 887,701 | |
Aptiv PLC (c) | 12,392 | 985,040 | |
1,872,741 | |||
Automobiles - 0.7% | |||
Tesla, Inc. (c) | 59,219 | 11,955,132 | |
Broadline Retail - 3.0% | |||
Amazon.com, Inc. (c) | 302,707 | 53,506,489 | |
Etsy, Inc. (c) | 4,553 | 326,405 | |
53,832,894 | |||
Distributors - 0.1% | |||
LKQ Corp. | 25,599 | 1,338,572 | |
Hotels, Restaurants & Leisure - 1.2% | |||
Airbnb, Inc. Class A (c) | 10,528 | 1,657,844 | |
Booking Holdings, Inc. | 1,133 | 3,930,184 | |
Caesars Entertainment, Inc. (c) | 25,448 | 1,106,225 | |
Churchill Downs, Inc. | 15,012 | 1,829,512 | |
Domino's Pizza, Inc. | 3,644 | 1,633,787 | |
Flutter Entertainment PLC (c) | 4,340 | 937,077 | |
Marriott International, Inc. Class A | 13,806 | 3,449,705 | |
McDonald's Corp. | 10,921 | 3,191,990 | |
Red Rock Resorts, Inc. | 7,557 | 438,230 | |
Sweetgreen, Inc. Class A (c) | 2,709 | 34,513 | |
Yum! Brands, Inc. | 26,257 | 3,634,494 | |
21,843,561 | |||
Household Durables - 0.0% | |||
D.R. Horton, Inc. | 1,332 | 199,054 | |
Mohawk Industries, Inc. (c) | 7,227 | 857,267 | |
1,056,321 | |||
Leisure Products - 0.0% | |||
Brunswick Corp. | 6,028 | 526,847 | |
Specialty Retail - 1.2% | |||
Burlington Stores, Inc. (c) | 3,769 | 773,022 | |
Cazoo Group Ltd. (c)(d) | 2 | 9 | |
Cazoo Group Ltd.: | |||
warrants (c) | 2 | 0 | |
warrants (c) | 2 | 0 | |
warrants (c) | 2 | 0 | |
Foot Locker, Inc. | 9,578 | 329,771 | |
Lowe's Companies, Inc. | 27,832 | 6,698,327 | |
The Home Depot, Inc. | 13,865 | 5,277,158 | |
TJX Companies, Inc. | 73,138 | 7,250,901 | |
Valvoline, Inc. (b)(c) | 21,395 | 912,283 | |
21,241,471 | |||
Textiles, Apparel & Luxury Goods - 0.5% | |||
Levi Strauss & Co. Class A | 28,941 | 525,858 | |
NIKE, Inc. Class B | 38,870 | 4,039,759 | |
PVH Corp. | 15,429 | 2,108,681 | |
Tapestry, Inc. | 42,780 | 2,033,333 | |
8,707,631 | |||
TOTAL CONSUMER DISCRETIONARY | 122,375,170 | ||
CONSUMER STAPLES - 3.8% | |||
Beverages - 1.1% | |||
Boston Beer Co., Inc. Class A (c) | 2,108 | 649,559 | |
Brown-Forman Corp. Class B (non-vtg.) | 9,656 | 581,581 | |
Celsius Holdings, Inc. (c) | 2,665 | 217,517 | |
Constellation Brands, Inc. Class A (sub. vtg.) | 10,248 | 2,546,833 | |
Diageo PLC | 16,106 | 602,192 | |
Keurig Dr. Pepper, Inc. | 46,958 | 1,404,514 | |
Monster Beverage Corp. | 46,633 | 2,756,010 | |
PepsiCo, Inc. | 25,682 | 4,246,262 | |
The Coca-Cola Co. | 120,948 | 7,259,299 | |
20,263,767 | |||
Consumer Staples Distribution & Retail - 1.2% | |||
Alimentation Couche-Tard, Inc. Class A (multi-vtg.) | 15,190 | 942,079 | |
BJ's Wholesale Club Holdings, Inc. (c) | 3,216 | 234,897 | |
Costco Wholesale Corp. | 12,867 | 9,571,633 | |
Dollar Tree, Inc. (c) | 2,507 | 367,727 | |
Maplebear, Inc. (NASDAQ) | 611 | 19,882 | |
Sprouts Farmers Market LLC (c) | 4,327 | 270,178 | |
Target Corp. | 15,054 | 2,302,058 | |
U.S. Foods Holding Corp. (c) | 26,572 | 1,349,592 | |
Walmart, Inc. | 108,018 | 6,330,935 | |
21,388,981 | |||
Food Products - 0.4% | |||
Freshpet, Inc. (b)(c) | 4,255 | 480,943 | |
Lamb Weston Holdings, Inc. | 9,364 | 957,094 | |
McCormick & Co., Inc. (non-vtg.) | 13,525 | 931,332 | |
Mondelez International, Inc. | 44,363 | 3,241,604 | |
The Hershey Co. | 6,127 | 1,151,386 | |
The J.M. Smucker Co. | 6,421 | 771,612 | |
7,533,971 | |||
Household Products - 0.7% | |||
Procter & Gamble Co. | 74,311 | 11,810,990 | |
Personal Care Products - 0.2% | |||
elf Beauty, Inc. (c) | 4,329 | 902,726 | |
Estee Lauder Companies, Inc. Class A | 10,004 | 1,486,394 | |
Kenvue, Inc. | 89,375 | 1,698,125 | |
Olaplex Holdings, Inc. (c) | 113,222 | 210,593 | |
4,297,838 | |||
Tobacco - 0.2% | |||
Altria Group, Inc. | 61,667 | 2,522,797 | |
TOTAL CONSUMER STAPLES | 67,818,344 | ||
ENERGY - 2.3% | |||
Energy Equipment & Services - 0.2% | |||
Expro Group Holdings NV (c) | 39,028 | 698,211 | |
Schlumberger Ltd. | 20,631 | 997,096 | |
Weatherford International PLC (c) | 13,050 | 1,339,061 | |
3,034,368 | |||
Oil, Gas & Consumable Fuels - 2.1% | |||
Africa Oil Corp. | 545,662 | 840,315 | |
Athabasca Oil Corp. (c) | 353,677 | 1,282,165 | |
Canadian Natural Resources Ltd. | 6,806 | 474,310 | |
Exxon Mobil Corp. | 177,023 | 18,502,444 | |
Galp Energia SGPS SA Class B | 63,126 | 994,061 | |
Hess Corp. | 5,594 | 815,326 | |
Imperial Oil Ltd. | 59,517 | 3,724,116 | |
Kosmos Energy Ltd. (c) | 141,640 | 869,670 | |
MEG Energy Corp. (c) | 147,671 | 3,160,920 | |
Phillips 66 Co. | 19,839 | 2,827,256 | |
Shell PLC ADR | 46,248 | 2,905,762 | |
Valero Energy Corp. | 19,801 | 2,801,049 | |
39,197,394 | |||
TOTAL ENERGY | 42,231,762 | ||
FINANCIALS - 8.3% | |||
Banks - 2.8% | |||
AIB Group PLC | 123,942 | 574,138 | |
Bank of America Corp. | 137,847 | 4,758,478 | |
Citigroup, Inc. | 88,675 | 4,920,576 | |
DNB Bank ASA | 41,112 | 823,215 | |
Eurobank Ergasias Services and Holdings SA (c) | 671,098 | 1,386,454 | |
HDFC Bank Ltd. | 28,042 | 473,722 | |
JPMorgan Chase & Co. | 110,350 | 20,531,721 | |
KeyCorp | 140,808 | 2,009,330 | |
M&T Bank Corp. | 13,656 | 1,908,289 | |
Pathward Financial, Inc. | 14,482 | 736,265 | |
Piraeus Financial Holdings SA (c) | 196,085 | 862,550 | |
PNC Financial Services Group, Inc. | 20,633 | 3,037,178 | |
Starling Bank Ltd. Series D (c)(d)(e) | 182,820 | 724,629 | |
Wells Fargo & Co. | 143,948 | 8,002,069 | |
50,748,614 | |||
Capital Markets - 1.6% | |||
Bank of New York Mellon Corp. | 55,758 | 3,127,466 | |
BlackRock, Inc. Class A | 4,929 | 3,999,095 | |
Brookfield Corp. Class A | 17,727 | 731,593 | |
Cboe Global Markets, Inc. | 6,951 | 1,334,592 | |
CME Group, Inc. | 13,696 | 3,017,914 | |
Interactive Brokers Group, Inc. | 9,741 | 1,059,042 | |
London Stock Exchange Group PLC | 6,810 | 764,854 | |
LPL Financial | 6,879 | 1,842,815 | |
MarketAxess Holdings, Inc. | 7,568 | 1,615,087 | |
Moody's Corp. | 6,976 | 2,646,834 | |
Morgan Stanley | 45,925 | 3,951,387 | |
StepStone Group, Inc. Class A | 21,437 | 744,507 | |
Tradeweb Markets, Inc. Class A | 7,600 | 804,232 | |
UBS Group AG | 79,501 | 2,261,803 | |
Virtu Financial, Inc. Class A | 25,127 | 453,542 | |
28,354,763 | |||
Consumer Finance - 0.2% | |||
Discover Financial Services | 17,814 | 2,150,150 | |
OneMain Holdings, Inc. | 15,737 | 743,259 | |
Shriram Transport Finance Co. Ltd. | 26,132 | 768,750 | |
3,662,159 | |||
Financial Services - 2.2% | |||
Apollo Global Management, Inc. | 43,191 | 4,828,754 | |
Berkshire Hathaway, Inc. Class A (c) | 3 | 1,849,683 | |
Block, Inc. Class A (c) | 82,104 | 6,524,805 | |
Corebridge Financial, Inc. | 17,903 | 444,531 | |
Fiserv, Inc. (c) | 24,929 | 3,721,152 | |
FleetCor Technologies, Inc. (c) | 4,905 | 1,369,819 | |
Global Payments, Inc. | 19,964 | 2,589,331 | |
MasterCard, Inc. Class A | 5,850 | 2,777,346 | |
Screaming Eagle Acquisition Corp. (c) | 70 | 746 | |
UWM Holdings Corp. Class A (b) | 88,222 | 562,856 | |
Visa, Inc. Class A | 52,270 | 14,773,593 | |
Voya Financial, Inc. | 10,992 | 751,413 | |
40,194,029 | |||
Insurance - 1.5% | |||
Arthur J. Gallagher & Co. | 16,361 | 3,990,939 | |
Chubb Ltd. | 19,396 | 4,881,391 | |
Direct Line Insurance Group PLC (c) | 387,832 | 988,912 | |
Everest Re Group Ltd. | 5,261 | 1,940,678 | |
Fairfax Financial Holdings Ltd. (sub. vtg.) | 2,102 | 2,243,625 | |
Globe Life, Inc. | 8,328 | 1,057,073 | |
Hartford Financial Services Group, Inc. | 32,169 | 3,083,077 | |
Marsh & McLennan Companies, Inc. | 18,493 | 3,740,579 | |
Progressive Corp. | 20,155 | 3,820,582 | |
Prudential PLC | 34,026 | 335,253 | |
Unum Group | 36,456 | 1,802,749 | |
27,884,858 | |||
TOTAL FINANCIALS | 150,844,423 | ||
HEALTH CARE - 7.8% | |||
Biotechnology - 1.0% | |||
Cytokinetics, Inc. (c) | 3,079 | 222,427 | |
Gilead Sciences, Inc. | 78,508 | 5,660,427 | |
Moderna, Inc. (c) | 29,349 | 2,707,152 | |
Regeneron Pharmaceuticals, Inc. (c) | 8,419 | 8,133,512 | |
Vertex Pharmaceuticals, Inc. (c) | 2,618 | 1,101,497 | |
17,825,015 | |||
Health Care Equipment & Supplies - 1.9% | |||
Abbott Laboratories | 12,939 | 1,535,083 | |
Boston Scientific Corp. (c) | 209,089 | 13,843,783 | |
Intuitive Surgical, Inc. (c) | 16,094 | 6,205,846 | |
Penumbra, Inc. (c) | 6,809 | 1,599,570 | |
Shockwave Medical, Inc. (c) | 5,688 | 1,483,829 | |
Stryker Corp. | 30,240 | 10,555,877 | |
35,223,988 | |||
Health Care Providers & Services - 1.8% | |||
Acadia Healthcare Co., Inc. (c) | 16,448 | 1,372,586 | |
Cencora, Inc. | 32,428 | 7,640,037 | |
CVS Health Corp. | 45,023 | 3,348,361 | |
Surgery Partners, Inc. (c) | 92,595 | 2,873,223 | |
UnitedHealth Group, Inc. | 34,367 | 16,963,551 | |
32,197,758 | |||
Life Sciences Tools & Services - 0.4% | |||
10X Genomics, Inc. (c) | 8,714 | 406,421 | |
Danaher Corp. | 17,261 | 4,369,450 | |
Sartorius Stedim Biotech | 1,526 | 419,417 | |
Thermo Fisher Scientific, Inc. | 4,014 | 2,288,703 | |
7,483,991 | |||
Pharmaceuticals - 2.7% | |||
AstraZeneca PLC sponsored ADR | 72,921 | 4,678,611 | |
Eli Lilly & Co. | 26,459 | 19,941,619 | |
Indivior PLC (c) | 73,071 | 1,581,874 | |
Merck & Co., Inc. | 115,529 | 14,689,512 | |
Royalty Pharma PLC | 103,440 | 3,138,370 | |
UCB SA | 34,445 | 3,964,799 | |
47,994,785 | |||
TOTAL HEALTH CARE | 140,725,537 | ||
INDUSTRIALS - 5.6% | |||
Aerospace & Defense - 1.1% | |||
Howmet Aerospace, Inc. | 41,240 | 2,744,522 | |
Lockheed Martin Corp. | 12,068 | 5,168,000 | |
Northrop Grumman Corp. | 4,326 | 1,994,373 | |
RTX Corp. | 14,641 | 1,312,858 | |
Space Exploration Technologies Corp. Class A (c)(d)(e) | 2,000 | 194,000 | |
The Boeing Co. (c) | 26,067 | 5,310,369 | |
TransDigm Group, Inc. | 2,844 | 3,349,493 | |
20,073,615 | |||
Air Freight & Logistics - 0.1% | |||
FedEx Corp. | 7,223 | 1,798,310 | |
Building Products - 0.5% | |||
Trane Technologies PLC | 30,490 | 8,597,265 | |
Construction & Engineering - 0.1% | |||
Quanta Services, Inc. | 8,859 | 2,139,537 | |
Electrical Equipment - 0.7% | |||
AMETEK, Inc. | 39,792 | 7,169,723 | |
Eaton Corp. PLC | 17,059 | 4,930,051 | |
12,099,774 | |||
Ground Transportation - 0.9% | |||
CSX Corp. | 101,864 | 3,864,720 | |
Old Dominion Freight Lines, Inc. | 11,338 | 5,016,838 | |
Uber Technologies, Inc. (c) | 39,390 | 3,131,505 | |
Union Pacific Corp. | 15,580 | 3,952,490 | |
15,965,553 | |||
Industrial Conglomerates - 0.5% | |||
General Electric Co. | 54,730 | 8,586,590 | |
Machinery - 1.7% | |||
Caterpillar, Inc. | 14,602 | 4,876,484 | |
Deere & Co. | 3,882 | 1,417,124 | |
Dover Corp. | 30,853 | 5,102,469 | |
Fortive Corp. | 52,150 | 4,439,530 | |
Ingersoll Rand, Inc. | 68,505 | 6,256,562 | |
Parker Hannifin Corp. | 15,957 | 8,544,176 | |
30,636,345 | |||
Passenger Airlines - 0.0% | |||
Delta Air Lines, Inc. | 18,923 | 799,875 | |
Professional Services - 0.0% | |||
Dun & Bradstreet Holdings, Inc. | 110,586 | 1,165,576 | |
TOTAL INDUSTRIALS | 101,862,440 | ||
INFORMATION TECHNOLOGY - 18.0% | |||
Electronic Equipment, Instruments & Components - 0.1% | |||
Amphenol Corp. Class A | 20,436 | 2,232,429 | |
IT Services - 0.7% | |||
Capgemini SA | 12,812 | 3,116,440 | |
EPAM Systems, Inc. (c) | 7,309 | 2,224,860 | |
Infosys Ltd. sponsored ADR | 30,846 | 615,686 | |
MongoDB, Inc. Class A (c) | 8,588 | 3,843,817 | |
Snowflake, Inc. (c) | 8,553 | 1,610,359 | |
Twilio, Inc. Class A (c) | 22,400 | 1,334,816 | |
12,745,978 | |||
Semiconductors & Semiconductor Equipment - 5.6% | |||
Advanced Micro Devices, Inc. (c) | 30,553 | 5,882,369 | |
ASML Holding NV (Netherlands) | 4,569 | 4,335,990 | |
Lattice Semiconductor Corp. (c) | 21,430 | 1,641,752 | |
Marvell Technology, Inc. | 45,688 | 3,274,002 | |
Micron Technology, Inc. | 88,335 | 8,004,034 | |
NVIDIA Corp. | 76,729 | 60,701,846 | |
NXP Semiconductors NV | 16,509 | 4,122,793 | |
ON Semiconductor Corp. (c) | 41,310 | 3,260,185 | |
Renesas Electronics Corp. | 113,601 | 1,877,039 | |
SolarEdge Technologies, Inc. (c) | 31,025 | 2,083,949 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 233,718 | 5,115,103 | |
Teradyne, Inc. | 12,043 | 1,247,534 | |
101,546,596 | |||
Software - 8.2% | |||
Adobe, Inc. (c) | 20,657 | 11,573,704 | |
Autodesk, Inc. (c) | 15,464 | 3,992,341 | |
CCC Intelligent Solutions Holdings, Inc. (c)(d) | 3,671 | 42,987 | |
Elastic NV (c) | 12,874 | 1,722,670 | |
Five9, Inc. (c) | 21,752 | 1,326,872 | |
HubSpot, Inc. (c) | 6,059 | 3,749,370 | |
Intuit, Inc. | 12,027 | 7,972,578 | |
Microsoft Corp. | 235,942 | 97,595,048 | |
Salesforce, Inc. | 38,253 | 11,813,291 | |
Stripe, Inc. Class B (c)(d)(e) | 1,800 | 45,702 | |
Synopsys, Inc. (c) | 8,837 | 5,070,052 | |
Tenable Holdings, Inc. (c) | 23,680 | 1,140,429 | |
Workday, Inc. Class A (c) | 10,014 | 2,950,725 | |
148,995,769 | |||
Technology Hardware, Storage & Peripherals - 3.4% | |||
Apple, Inc. | 322,315 | 58,258,436 | |
Samsung Electronics Co. Ltd. (c) | 43,681 | 2,400,891 | |
60,659,327 | |||
TOTAL INFORMATION TECHNOLOGY | 326,180,099 | ||
MATERIALS - 1.4% | |||
Chemicals - 1.0% | |||
Air Products & Chemicals, Inc. | 4,596 | 1,075,648 | |
Cabot Corp. | 6,331 | 537,818 | |
Celanese Corp. Class A | 4,438 | 674,443 | |
Chemtrade Logistics Income Fund | 5,282 | 31,447 | |
Corteva, Inc. | 20,027 | 1,071,845 | |
Dow, Inc. | 30,653 | 1,712,890 | |
DuPont de Nemours, Inc. | 7,322 | 506,609 | |
Ecolab, Inc. | 7,820 | 1,758,249 | |
Element Solutions, Inc. | 11,770 | 276,595 | |
Koppers Holdings, Inc. | 4,141 | 234,463 | |
Linde PLC | 14,734 | 6,612,914 | |
LyondellBasell Industries NV Class A | 9,199 | 922,476 | |
Olin Corp. | 7,499 | 403,446 | |
Sherwin-Williams Co. | 3,564 | 1,183,355 | |
The Chemours Co. LLC | 25,922 | 509,886 | |
The Mosaic Co. | 13,359 | 416,266 | |
Tronox Holdings PLC | 39,315 | 577,931 | |
Westlake Corp. | 2,877 | 399,069 | |
18,905,350 | |||
Construction Materials - 0.1% | |||
Martin Marietta Materials, Inc. | 1,001 | 578,288 | |
Vulcan Materials Co. | 2,168 | 576,363 | |
1,154,651 | |||
Containers & Packaging - 0.1% | |||
Aptargroup, Inc. | 2,758 | 387,389 | |
Crown Holdings, Inc. | 1,420 | 108,800 | |
Greif, Inc. Class A | 5,784 | 372,837 | |
869,026 | |||
Metals & Mining - 0.2% | |||
First Quantum Minerals Ltd. | 41,069 | 388,857 | |
Franco-Nevada Corp. | 2,729 | 285,719 | |
Freeport-McMoRan, Inc. | 40,351 | 1,525,671 | |
Ivanhoe Mines Ltd. (c) | 37,796 | 401,869 | |
Newmont Corp. | 4,520 | 141,250 | |
Nucor Corp. | 7,510 | 1,444,173 | |
Teck Resources Ltd. Class B | 6,607 | 253,841 | |
4,441,380 | |||
TOTAL MATERIALS | 25,370,407 | ||
REAL ESTATE - 1.4% | |||
Equity Real Estate Investment Trusts (REITs) - 1.4% | |||
Alexandria Real Estate Equities, Inc. | 565 | 70,472 | |
American Tower Corp. | 14,284 | 2,840,516 | |
COPT Defense Properties (SBI) | 14,751 | 357,417 | |
Crown Castle, Inc. | 15,263 | 1,678,014 | |
CubeSmart | 17,181 | 749,263 | |
Digital Realty Trust, Inc. | 11,341 | 1,664,972 | |
Equinix, Inc. | 3,682 | 3,272,635 | |
Equity Lifestyle Properties, Inc. | 21,864 | 1,471,884 | |
Essex Property Trust, Inc. | 3,107 | 718,960 | |
Extra Space Storage, Inc. | 546 | 76,970 | |
Invitation Homes, Inc. | 44,949 | 1,531,412 | |
Mid-America Apartment Communities, Inc. | 6,347 | 797,691 | |
Omega Healthcare Investors, Inc. | 19,040 | 592,525 | |
Prologis, Inc. | 28,841 | 3,843,640 | |
Simon Property Group, Inc. | 15,008 | 2,223,285 | |
Sun Communities, Inc. | 5,920 | 791,859 | |
Ventas, Inc. | 21,517 | 909,954 | |
Welltower, Inc. | 20,058 | 1,848,545 | |
25,440,014 | |||
UTILITIES - 1.3% | |||
Electric Utilities - 1.1% | |||
American Electric Power Co., Inc. | 8,696 | 740,812 | |
Constellation Energy Corp. | 11,667 | 1,965,306 | |
Edison International | 29,344 | 1,995,979 | |
Entergy Corp. | 13,589 | 1,380,235 | |
Evergy, Inc. | 12,128 | 600,821 | |
Eversource Energy | 25,064 | 1,471,257 | |
Exelon Corp. | 13,207 | 473,339 | |
FirstEnergy Corp. | 35,089 | 1,284,608 | |
NextEra Energy, Inc. | 66,736 | 3,683,160 | |
NRG Energy, Inc. | 10,498 | 580,749 | |
PG&E Corp. | 155,087 | 2,588,402 | |
PPL Corp. | 47,686 | 1,257,480 | |
Southern Co. | 22,441 | 1,509,157 | |
Xcel Energy, Inc. | 4,619 | 243,375 | |
19,774,680 | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
The AES Corp. | 47,857 | 727,426 | |
Multi-Utilities - 0.2% | |||
NiSource, Inc. | 39,922 | 1,040,367 | |
Sempra | 38,586 | 2,724,172 | |
3,764,539 | |||
TOTAL UTILITIES | 24,266,645 | ||
TOTAL COMMON STOCKS (Cost $775,457,303) | 1,130,970,967 | ||
Preferred Stocks - 0.1% | |||
Shares | Value ($) | ||
Convertible Preferred Stocks - 0.1% | |||
COMMUNICATION SERVICES - 0.0% | |||
Interactive Media & Services - 0.0% | |||
ByteDance Ltd. Series E1 (c)(d)(e) | 1,863 | 411,965 | |
INDUSTRIALS - 0.0% | |||
Aerospace & Defense - 0.0% | |||
ABL Space Systems: | |||
Series B(c)(d)(e) | 1,784 | 52,164 | |
Series B2(c)(d)(e) | 1,176 | 37,409 | |
89,573 | |||
Construction & Engineering - 0.0% | |||
Beta Technologies, Inc. Series A (c)(d)(e) | 731 | 83,144 | |
TOTAL INDUSTRIALS | 172,717 | ||
INFORMATION TECHNOLOGY - 0.1% | |||
Communications Equipment - 0.0% | |||
Astranis Space Technologies Corp. Series C (c)(d)(e) | 6,103 | 67,255 | |
Semiconductors & Semiconductor Equipment - 0.0% | |||
Astera Labs, Inc. Series C (c)(d)(e) | 9,300 | 197,346 | |
Xsight Labs Ltd. Series D (c)(d)(e) | 6,632 | 34,022 | |
231,368 | |||
Software - 0.1% | |||
Algolia, Inc. Series D (c)(d)(e) | 3,612 | 60,682 | |
Bolt Technology OU Series E (c)(d)(e) | 957 | 111,883 | |
Databricks, Inc.: | |||
Series G(c)(d)(e) | 444 | 36,430 | |
Series H(c)(d)(e) | 2,574 | 211,197 | |
Skyryse, Inc. Series B (c)(d)(e) | 7,300 | 148,263 | |
Stripe, Inc. Series H (c)(d)(e) | 2,037 | 51,719 | |
620,174 | |||
TOTAL INFORMATION TECHNOLOGY | 918,797 | ||
TOTAL CONVERTIBLE PREFERRED STOCKS | 1,503,479 | ||
Nonconvertible Preferred Stocks - 0.0% | |||
INDUSTRIALS - 0.0% | |||
Professional Services - 0.0% | |||
Checkr, Inc. Series E (c)(e) | 12,063 | 107,481 | |
INFORMATION TECHNOLOGY - 0.0% | |||
IT Services - 0.0% | |||
Gupshup, Inc. (c)(d)(e) | 3,298 | 37,004 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | 144,485 | ||
TOTAL PREFERRED STOCKS (Cost $1,791,443) | 1,647,964 | ||
U.S. Treasury Obligations - 0.0% | |||
Principal Amount (f) | Value ($) | ||
U.S. Treasury Bills, yield at date of purchase 5.3% to 5.31% 5/23/24 to 5/30/24 (g) (Cost $740,317) | 750,000 | 740,319 | |
Fixed-Income Funds - 36.6% | |||
Shares | Value ($) | ||
Fidelity High Income Central Fund (h) | 0 | 1 | |
Fidelity Investment Grade Bond Central Fund (h) | 6,844,990 | 664,169,377 | |
TOTAL FIXED-INCOME FUNDS (Cost $718,240,736) | 664,169,378 | ||
Money Market Funds - 0.9% | |||
Shares | Value ($) | ||
Fidelity Cash Central Fund 5.39% (i) | 13,656,231 | 13,658,962 | |
Fidelity Securities Lending Cash Central Fund 5.39% (i)(j) | 1,609,350 | 1,609,511 | |
TOTAL MONEY MARKET FUNDS (Cost $15,268,473) | 15,268,473 | ||
TOTAL INVESTMENT IN SECURITIES - 100.0% (Cost $1,511,498,272) | 1,812,797,101 |
NET OTHER ASSETS (LIABILITIES) - 0.0% | 609,877 |
NET ASSETS - 100.0% | 1,813,406,978 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount ($) | Value ($) | Unrealized Appreciation/ (Depreciation) ($) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Micro E-mini S&P 500 Index Contracts (United States) | 28 | Mar 2024 | 7,145,250 | 621,223 | 621,223 |
The notional amount of futures purchased as a percentage of Net Assets is 0.4% |
(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 $579,232 or 0.0% of net assets. |
(b) | Security or a portion of the security is on loan at period end. |
(c) | Non-income producing |
(d) | 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 $2,672,673 or 0.1% of net assets. |
(e) | Level 3 security |
(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 $740,319. |
(h) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. A complete unaudited schedule of portfolio holdings for each Fidelity Central Fund is filed with the SEC for the first and third quarters of each fiscal year on Form N-PORT and is available upon request or at the SEC's website at www.sec.gov. An unaudited holdings listing for the Fund, which presents direct holdings as well as the pro-rata share of securities and other investments held indirectly through its investment in underlying non-money market Fidelity Central Funds, is available at fidelity.com and/or institutional.fidelity.com, as applicable. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(i) | Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request. |
(j) | Investment made with cash collateral received from securities on loan. |
Additional information on each restricted holding is as follows: | ||
Security | Acquisition Date | Acquisition Cost ($) |
ABL Space Systems Series B | 3/24/21 | 80,344 |
ABL Space Systems Series B2 | 10/22/21 | 79,963 |
Algolia, Inc. Series D | 7/23/21 | 105,633 |
Astera Labs, Inc. Series C | 8/24/21 | 62,529 |
Astranis Space Technologies Corp. Series C | 3/19/21 | 133,783 |
Beta Technologies, Inc. Series A | 4/09/21 | 53,560 |
Bolt Technology OU Series E | 1/03/22 | 248,626 |
ByteDance Ltd. Series E1 | 11/18/20 | 204,137 |
Cazoo Group Ltd. | 3/28/21 | 57,000 |
CCC Intelligent Solutions Holdings, Inc. | 2/02/21 | 36,710 |
Databricks, Inc. Series G | 2/01/21 | 26,250 |
Databricks, Inc. Series H | 8/31/21 | 189,148 |
Epic Games, Inc. | 3/29/21 | 161,070 |
Gupshup, Inc. | 6/08/21 | 75,409 |
Skyryse, Inc. Series B | 10/21/21 | 180,164 |
Space Exploration Technologies Corp. Class A | 2/16/21 | 83,998 |
Starling Bank Ltd. Series D | 6/18/21 | 326,861 |
Stripe, Inc. Class B | 5/18/21 | 72,231 |
Stripe, Inc. Series H | 3/15/21 - 5/25/23 | 81,735 |
Xsight Labs Ltd. Series D | 2/16/21 | 53,029 |
Affiliate | Value, beginning of period ($) | Purchases ($) | Sales Proceeds ($) | Dividend Income ($) | Realized Gain (loss) ($) | Change in Unrealized appreciation (depreciation) ($) | Value, end of period ($) | % ownership, end of period |
Fidelity Cash Central Fund 5.39% | 23,108,138 | 152,148,242 | 161,597,418 | 641,209 | - | - | 13,658,962 | 0.0% |
Fidelity High Income Central Fund | - | 3 | 2 | - | - | - | 1 | 0.0% |
Fidelity Investment Grade Bond Central Fund | 587,007,125 | 72,111,845 | - | 12,718,720 | - | 5,050,407 | 664,169,377 | 1.7% |
Fidelity Securities Lending Cash Central Fund 5.39% | 1,008,450 | 13,812,728 | 13,211,667 | 4,984 | - | - | 1,609,511 | 0.0% |
Total | 611,123,713 | 238,072,818 | 174,809,087 | 13,364,913 | - | 5,050,407 | 679,437,851 | |
Valuation Inputs at Reporting Date: | ||||
Description | Total ($) | Level 1 ($) | Level 2 ($) | Level 3 ($) |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | 104,268,091 | 103,152,031 | 579,232 | 536,828 |
Consumer Discretionary | 122,375,170 | 122,375,170 | - | - |
Consumer Staples | 67,818,344 | 67,818,344 | - | - |
Energy | 42,231,762 | 42,231,762 | - | - |
Financials | 150,844,423 | 147,722,750 | 2,397,044 | 724,629 |
Health Care | 140,725,537 | 140,725,537 | - | - |
Industrials | 102,142,638 | 101,668,440 | - | 474,198 |
Information Technology | 327,135,900 | 311,689,825 | 14,444,572 | 1,001,503 |
Materials | 25,370,407 | 25,370,407 | - | - |
Real Estate | 25,440,014 | 25,440,014 | - | - |
Utilities | 24,266,645 | 24,266,645 | - | - |
U.S. Government and Government Agency Obligations | 740,319 | - | 740,319 | - |
Fixed-Income Funds | 664,169,378 | 664,169,378 | - | - |
Money Market Funds | 15,268,473 | 15,268,473 | - | - |
Total Investments in Securities: | 1,812,797,101 | 1,791,898,776 | 18,161,167 | 2,737,158 |
Net Unrealized Depreciation on Unfunded Commitments | (8,449) | - | (8,449) | - |
Total | (8,449) | - | (8,449) | - |
Derivative Instruments: Assets | ||||
Futures Contracts | 621,223 | 621,223 | - | - |
Total Assets | 621,223 | 621,223 | - | - |
Total Derivative Instruments: | 621,223 | 621,223 | - | - |
Primary Risk Exposure / Derivative Type | Value | |
Asset ($) | Liability ($) | |
Equity Risk | ||
Futures Contracts (a) | 621,223 | 0 |
Total Equity Risk | 621,223 | 0 |
Total Value of Derivatives | 621,223 | 0 |
Statement of Assets and Liabilities | ||||
February 29, 2024 (Unaudited) | ||||
Assets | ||||
Investment in securities, at value (including securities loaned of $1,581,858) - See accompanying schedule: | ||||
Unaffiliated issuers (cost $777,989,063) | $ | 1,133,359,250 | ||
Fidelity Central Funds (cost $733,509,209) | 679,437,851 | |||
Total Investment in Securities (cost $1,511,498,272) | $ | 1,812,797,101 | ||
Foreign currency held at value (cost $467) | 465 | |||
Receivable for investments sold | 3,948,363 | |||
Receivable for fund shares sold | 1,723,132 | |||
Dividends receivable | 1,446,787 | |||
Distributions receivable from Fidelity Central Funds | 94,505 | |||
Receivable for daily variation margin on futures contracts | 49,181 | |||
Other receivables | 4,335 | |||
Total assets | 1,820,063,869 | |||
Liabilities | ||||
Payable to custodian bank | $ | 48,814 | ||
Payable for investments purchased | 2,825,243 | |||
Unrealized depreciation on unfunded commitments | 8,449 | |||
Payable for fund shares redeemed | 1,677,204 | |||
Accrued management fee | 479,812 | |||
Other payables and accrued expenses | 7,858 | |||
Collateral on securities loaned | 1,609,511 | |||
Total Liabilities | 6,656,891 | |||
Net Assets | $ | 1,813,406,978 | ||
Net Assets consist of: | ||||
Paid in capital | $ | 1,531,254,477 | ||
Total accumulated earnings (loss) | 282,152,501 | |||
Net Assets | $ | 1,813,406,978 | ||
Net Asset Value, offering price and redemption price per share ($1,813,406,978 ÷ 122,561,259 shares) | $ | 14.80 |
Statement of Operations | ||||
Six months ended February 29, 2024 (Unaudited) | ||||
Investment Income | ||||
Dividends | $ | 6,564,067 | ||
Interest | 30,694 | |||
Income from Fidelity Central Funds (including $4,984 from security lending) | 13,364,913 | |||
Total Income | 19,959,674 | |||
Expenses | ||||
Management fee | $ | 2,665,909 | ||
Independent trustees' fees and expenses | 4,175 | |||
Interest | 801 | |||
Total expenses before reductions | 2,670,885 | |||
Expense reductions | (1,137) | |||
Total expenses after reductions | 2,669,748 | |||
Net Investment income (loss) | 17,289,926 | |||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers | 15,739,545 | |||
Foreign currency transactions | 3,156 | |||
Futures contracts | 1,175,249 | |||
Total net realized gain (loss) | 16,917,950 | |||
Change in net unrealized appreciation (depreciation) on: | ||||
Investment Securities: | ||||
Unaffiliated issuers (net of decrease in deferred foreign taxes of $37,372) | 137,533,739 | |||
Fidelity Central Funds | 5,050,407 | |||
Unfunded commitments | (8,449) | |||
Assets and liabilities in foreign currencies | 151 | |||
Futures contracts | 125,370 | |||
Total change in net unrealized appreciation (depreciation) | 142,701,218 | |||
Net gain (loss) | 159,619,168 | |||
Net increase (decrease) in net assets resulting from operations | $ | 176,909,094 |
Statement of Changes in Net Assets | ||||
Six months ended February 29, 2024 (Unaudited) | Year ended August 31, 2023 | |||
Increase (Decrease) in Net Assets | ||||
Operations | ||||
Net investment income (loss) | $ | 17,289,926 | $ | 26,492,751 |
Net realized gain (loss) | 16,917,950 | (24,679,278) | ||
Change in net unrealized appreciation (depreciation) | 142,701,218 | 172,647,639 | ||
Net increase (decrease) in net assets resulting from operations | 176,909,094 | 174,461,112 | ||
Distributions to shareholders | (15,454,114) | (46,423,529) | ||
Share transactions | ||||
Proceeds from sales of shares | 220,263,340 | 629,232,728 | ||
Reinvestment of distributions | 13,501,803 | 43,706,343 | ||
Cost of shares redeemed | (183,409,180) | (337,292,021) | ||
Net increase (decrease) in net assets resulting from share transactions | 50,355,963 | 335,647,050 | ||
Total increase (decrease) in net assets | 211,810,943 | 463,684,633 | ||
Net Assets | ||||
Beginning of period | 1,601,596,035 | 1,137,911,402 | ||
End of period | $ | 1,813,406,978 | $ | 1,601,596,035 |
Other Information | ||||
Shares | ||||
Sold | 16,181,182 | 51,105,312 | ||
Issued in reinvestment of distributions | 998,968 | 3,722,524 | ||
Redeemed | (13,276,349) | (27,015,596) | ||
Net increase (decrease) | 3,903,801 | 27,812,240 | ||
Fidelity® Balanced K6 Fund |
Six months ended (Unaudited) February 29, 2024 | Years ended August 31, 2023 | 2022 | 2021 | 2020 | 2019 A | |||||||
Selected Per-Share Data | ||||||||||||
Net asset value, beginning of period | $ | 13.50 | $ | 12.53 | $ | 14.97 | $ | 12.24 | $ | 10.23 | $ | 10.00 |
Income from Investment Operations | ||||||||||||
Net investment income (loss) B,C | .14 | .24 | .17 | .16 | .19 | .04 | ||||||
Net realized and unrealized gain (loss) | 1.29 | 1.20 | (1.98) | 2.87 | 1.97 | .20 | ||||||
Total from investment operations | 1.43 | 1.44 | (1.81) | 3.03 | 2.16 | .24 | ||||||
Distributions from net investment income | (.13) | (.22) | (.16) | (.14) | (.14) | (.01) | ||||||
Distributions from net realized gain | - | (.24) | (.47) | (.16) | (.01) | - | ||||||
Total distributions | (.13) | (.47) D | (.63) | (.30) | (.15) | (.01) | ||||||
Net asset value, end of period | $ | 14.80 | $ | 13.50 | $ | 12.53 | $ | 14.97 | $ | 12.24 | $ | 10.23 |
Total Return E,F | 10.67% | 12.09% | (12.52)% | 25.14% | 21.36% | 2.35% | ||||||
Ratios to Average Net Assets C,G,H | ||||||||||||
Expenses before reductions | .32% I | .32% | .32% | .32% | .32% | .32% I | ||||||
Expenses net of fee waivers, if any | .32% I | .32% | .32% | .32% | .32% | .32% I | ||||||
Expenses net of all reductions | .32% I | .32% | .32% | .32% | .31% | .32% I | ||||||
Net investment income (loss) | 2.08% I | 1.91% | 1.23% | 1.14% | 1.75% | 2.00% I | ||||||
Supplemental Data | ||||||||||||
Net assets, end of period (000 omitted) | $ | 1,813,407 | $ | 1,601,596 | $ | 1,137,911 | $ | 957,453 | $ | 426,979 | $ | 1,629 |
Portfolio turnover rate J | 24% I,K | 33% K | 38% K | 42% K | 76% K | 6% L |
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense RatioA |
Fidelity High Income Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income and may also seek capital appreciation by investing primarily in debt securities, preferred stocks, and convertible securities, with an emphasis on lower-quality debt securities. | Delayed Delivery & When Issued Securities Loans & Direct Debt Instruments Restricted Securities | Less than .005% |
Fidelity Investment Grade Bond Central Fund | Fidelity Management & Research Company LLC (FMR) | Seeks a high level of income by normally investing in investment-grade debt securities. | Delayed Delivery & When Issued Securities Futures Options Restricted Securities Swaps | Less than .005% |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
Gross unrealized appreciation | $375,202,785 |
Gross unrealized depreciation | (78,940,682) |
Net unrealized appreciation (depreciation) | $296,262,103 |
Tax cost | $1,515,913,775 |
Short-term | $(38,423,880) |
Investment to be Acquired | Shares | Commitment Amount | |
Fidelity Balanced K6 Fund | Lions Gate Entertainment Corp. | 14,849 | $142,996 |
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
Purchases ($) | Sales ($) | |
Fidelity Balanced K6 Fund | 232,100,783 | 197,059,172 |
Shares | Total Proceeds ($) | |
Fidelity Balanced K6 Fund | 2,102,228 | 26,805,478 |
Shares | Total Proceeds ($) | |
Fidelity Balanced K6 Fund | 26,952,681 | 327,304,143 |
Amount | |
Fidelity Balanced K6 Fund | $ 2,383 |
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity Balanced K6 Fund | Borrower | $ 5,184,000 | 5.57% | $801 |
Purchases ($) | Sales ($) | Realized Gain (Loss) ($) | |
Fidelity Balanced K6 Fund | 8,993,659 | 12,865,716 | 190,174 |
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Balanced K6 Fund | $523 | $51 | $- |
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (September 1, 2023 to February 29, 2024). |
Annualized Expense Ratio- A | Beginning Account Value September 1, 2023 | Ending Account Value February 29, 2024 | Expenses Paid During Period- C September 1, 2023 to February 29, 2024 | |||||||
Fidelity® Balanced K6 Fund | .32% | |||||||||
Actual | $ 1,000 | $ 1,106.70 | $ 1.68 | |||||||
Hypothetical-B | $ 1,000 | $ 1,023.27 | $ 1.61 | |||||||
- Highly liquid investments - cash or convertible to cash within three business days or less
- Moderately liquid investments - convertible to cash in three to seven calendar days
- Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments - cannot be sold or disposed of within seven calendar days
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Puritan Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Puritan Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that
material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 18.
Recovery of Erroneously Awarded Compensation
(a)
Not applicable.
(b)
Not applicable.
Item 19.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Fidelity Puritan Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | April 22, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer (Principal Executive Officer) | |
Date: | April 22, 2024 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer (Principal Financial Officer) | |
Date: | April 22, 2024 |